UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT 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)

John M. McCann, Esq.

TIAA-CREF Funds

8500 Andrew Carnegie Blvd

Charlotte, North Carolina 28262-8500

(Name and address of agent for service)

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

Date of fiscal year end: March 31

Date of reporting period: September 30, 2020

Item 1. Reports to Stockholders.

  TIAA-CREF Funds September 30, 2020

TIAA-CREF

Real Estate Securities Fund

The semiannual report contains the financial statements (unaudited).

	Institutional	Advisor	Premier	Retirement	Retail
Fund name	Class	Class	Class	Class	Class
Real Estate Securities Fund	TIREX	TIRHX	TRRPX	TRRSX	TCREX

Semiannual
Report

Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the TIAA-CREF Funds’ (the “Funds”) annual and semiannual shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports. Instead, they will be made available on TIAA’s website, TIAA.org, and you will be notified by mail each time a report is posted and provided with a website link to access the report.

If you have already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications from the Funds electronically anytime by either updating your account settings at TIAA.org/eDelivery, if you invest in the Funds directly or hold your Fund shares through a TIAA-affiliated financial intermediary, account or retirement plan (each, a “TIAA Account”), or by contacting your financial intermediary (such as a broker/dealer or bank) through which you hold Fund shares.

If you invest directly with the Funds or through a TIAA Account, you may elect to continue to receive all future shareholder reports in paper free of charge by updating your account settings at TIAA.org/eDelivery or by calling 800-842-2252 during regular business hours. If you invest through another financial intermediary, you can contact your financial intermediary to request that you continue receiving paper copies of your shareholder reports. Your election to receive reports in paper will apply to all funds held with the fund complex if you invest directly with the Funds or through a TIAA Account, or to all funds held through your financial intermediary.

Contents

Understanding this report	3
Letter to investors	4
Information for investors	6
Important information about expenses	7
About the Fund’s benchmark	8
Fund performance
Real Estate Securities Fund	9
Portfolio of investments	12
Financial statements (unaudited)
Statement of assets and liabilities	15
Statement of operations	16
Statements of changes in net assets	17
Financial highlights	20
Notes to financial statements	22
How to reach us	Inside back cover

Understanding this report

This semiannual report contains information about the Real Estate Securities Fund and describes the Fund’s results for the six months ended September 30, 2020. The report contains four main sections:

• A letter from Brad Finkle, Chief Operating Officer, Nuveen; President of the TIAA-CREF Funds and TIAA-CREF Life Funds.

• The Fund performance section compares the Fund’s investment returns with those of its benchmark index.

• The portfolio of investments lists the industries and types of securities in which the Fund had investments as of September 30, 2020.

• The financial statements provide detailed information about the operations and financial condition of the Fund.

The views and opinions expressed in this report are through the end of the period, as stated on the cover of this report. They are subject to change at any time based on a variety of factors. As such, they are not guarantees of future performance or investment results and should not be taken as investment advice. To see the risks of investing in the Fund, please read the latest prospectus.

As always, you should carefully consider the investment objectives, risks, charges and expenses of any fund before investing. For a prospectus that contains this and other important information, please visit our website at TIAA.org, or call 800-842-2252 for the Institutional, Advisor, Premier and Retirement classes or 800-223-1200 for the Retail Class. We urge you to read the prospectus carefully before investing.

TIAA-CREF Real Estate Securities Fund  ■  2020 Semiannual Report 3

Letter to investors

Real estate investment trusts (REITs) recorded strong results for the six months ended September 30, 2020, despite continued economic turbulence resulting from the COVID-19 pandemic. The economy contracted during the second calendar quarter of 2020 as efforts to contain the virus led to widespread business disruptions and restrictions on travel. The unemployment rate soared in April, though it declined in each subsequent month during the period. The Federal Reserve maintained the federal funds target rate at 0.00%–0.25%, and policymakers said the key short-term interest-rate measure would remain unchanged until the labor market showed further improvement and inflation rose above 2.0%.

• REITs, as measured by the FTSE Nareit All Equity REITs Index, gained 14.6% for the six months. Please see page 8 for the benchmark definition.

• Nearly all of the index’s 16 property sectors and subsectors advanced, with timber REITs posting the largest gain. Single-family homes and freestanding retail also advanced. However, office REITs posted a decline.

• The TIAA-CREF Real Estate Securities Fund (Institutional Class) posted strong gains and outperformed its benchmark, mostly due to favorable security selection.

REITs outperformed U.S. bonds, trailed equities

REITs are a unique asset class because they share some of the characteristics of both stocks and bonds. Similar to bonds, REIT prices can be sensitive to interest-rate fluctuations, and during the period, REITs benefited from aggressive action by the Fed in March to push short-term interest rates near zero. Similar to equities, REITs invest in individual companies, so their performance is also tied to the overall health of the U.S. economy. Equities were bolstered during the period by a general recovery in the stock market, following dramatic declines seen earlier in the year.

For the six-month period, the FTSE Nareit All Equity REITs Index surpassed the 3.5% gain of the broad U.S. investment-grade fixed-rate bond market, as measured by the Bloomberg Barclays U.S. Aggregate Bond Index. REITs also outpaced other sectors of the fixed-income market, such as high-yield bonds, which posted a higher return for the period. However, REITs trailed the 33.3% gain of the broad U.S. stock market, as represented by the Russell 3000^® Index.

4 2020 Semiannual Report  ■  TIAA-CREF Real Estate Securities Fund

Brad Finkle

Diversification and more in uncertain times

REITs have the potential to offer your portfolio several benefits, which may be particularly useful in the uncertain environment in which we currently find ourselves. They can add diversification, a well-established technique that spreads your investments among a variety of asset classes—not just stocks or bonds—to help limit the risk of being exposed to just one particular type of investment. Furthermore, REITs invest in a broad array of real estate property sectors, each with their own unique characteristics and supply/demand dynamics, which adds even more diversification. In addition, REITs are required by law to distribute at least 90% of their taxable income to investors in the form of dividends. As such, they generate current income, which is a valuable feature when rates decline or when markets are struggling. REITs also offer the potential for capital appreciation, which appeals to many investors in a growing economy or when markets are rising.

We cannot predict how interest rates will move in the future or which direction the financial markets will take next. However, we believe that a professionally managed mutual fund of REIT securities can play an integral role in a long-term financial plan, particularly when they are part of a broader portfolio containing stocks, bonds and other asset classes. Of course, diversification cannot guarantee against market losses.

As always, you can visit TIAA.org for more information on asset class performance. If you have any questions about your investment in the TIAA-CREF Real Estate Securities Fund, we encourage you to contact your financial advisor or call a TIAA financial consultant at 800-842-2252. We would be happy to assist you.

/s/ Brad Finkle
Brad Finkle

Chief Operating Officer, Nuveen

President of the TIAA-CREF Funds and TIAA-CREF Life Funds

TIAA-CREF Real Estate Securities Fund  ■  2020 Semiannual Report 5

Information for investors

Portfolio holdings

The complete portfolio of investments for the Real Estate Securities Fund begins on page 12 of this report. You can obtain a complete list of the holdings of the Real Estate Securities Fund (Schedule of Investments) as of the most recently completed fiscal quarter in the following ways:

• By visiting our website at TIAA.org; or

• By calling us at 800-842-2252 to request a copy, which will be provided free of charge.

You can also obtain a complete list of the Real Estate Securities Fund’s portfolio holdings as of the most recently completed fiscal quarter, and for prior quarter-ends, from our Securities and Exchange Commission (SEC) Form N-CSR and Form N-PORT filings. Form N-CSR filings are as of March 31 or September 30; Form N-PORT filings are as of December 31 or June 30. Copies of these forms are available:

• Through the Electronic Data Gathering and Retrieval System (EDGAR) on the SEC’s website at sec.gov; or

• From the SEC’s Office of Investor Education and Advocacy.

Call 202-551-8090 for more information.

Proxy voting

The Real Estate Securities Fund’s ownership of stock gives it the right to vote on proxy issues of companies in which it invests. A description of our proxy voting policies and procedures can be found on our website at TIAA.org or on the SEC’s website at sec.gov. You can also call us at 800-842-2252 to request a free copy. A report of how the Fund voted during the most recently completed twelve-month period ended June 30 can be found on our website or on Form N-PX at sec.gov.

Contacting TIAA

There are three easy ways to contact us: by email, using the Contact Us link at the top of our home page; by mail at TIAA, 730 Third Avenue, New York, NY 10017-3206; or by phone at 800-842-2252.

Fund management

The Real Estate Securities Fund is managed by a portfolio management team of Teachers Advisors, LLC. The members of this team are responsible for the day-to-day investment management of the Fund.

6 2020 Semiannual Report  ■  TIAA-CREF Real Estate Securities Fund

Important information about expenses

All shareholders of the TIAA-CREF Funds incur ongoing costs, including management fees and other fund expenses. They may also incur transactional costs for redemptions or account maintenance fees.

The expense example that appears in this report is intended to help you understand your ongoing costs only (in U.S. dollars) and does not reflect transactional costs. The example is designed to help you compare these ongoing costs with the ongoing costs of investing in other mutual funds.

The expenses shown do not include account maintenance fees, which may or may not be applicable, as described in the prospectus. If such fees were included, your total costs for investing in the Fund would be higher. Note also that shareholders of the TIAA-CREF Funds do not incur a sales charge for purchases, reinvested dividends or other distributions.

The example is based on an investment of $1,000 invested at the beginning of the six-month period and held for the entire period (April 1, 2020–September 30, 2020).

Actual expenses

The first line of the two lines listed for each share class in the table uses that class’ actual expenses and its actual rate of return. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the six-month period.

Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading “Expenses paid during period” to estimate the expenses you paid during the six-month period.

Hypothetical example for comparison purposes

The second line in each share class’ entry shows hypothetical account values and expenses based on the share class’ actual expense ratio for the six-month period and an assumed 5%-per-year rate of return before expenses. This was not the share class’ actual return.

This hypothetical example cannot be used to estimate the actual expenses you paid for the period, but rather allows you to compare the ongoing costs of investing in the Fund with the costs of other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of other mutual funds.

TIAA-CREF Real Estate Securities Fund  ■  2020 Semiannual Report 7

Important information about expenses

Expense example

Six months ended September 30, 2020

	Beginning			Ending			Expenses paid
	account value			account value			during period		*
Real Estate Securities Fund	(4/1/20		)	(9/30/20		)	(4/1/20–9/30/20		)
Actual return
Institutional Class	$	1,000.00		$	1,163.54		$	2.55
Advisor Class		1,000.00			1,162.77			3.25
Premier Class		1,000.00			1,163.24			3.36
Retirement Class		1,000.00			1,162.37			3.90
Retail Class		1,000.00			1,162.55			4.17
5% annual hypothetical return
Institutional Class		1,000.00			1,022.71			2.38
Advisor Class		1,000.00			1,022.06			3.04
Premier Class		1,000.00			1,021.96			3.14
Retirement Class		1,000.00			1,021.46			3.65
Retail Class		1,000.00			1,021.21			3.90

* “Expenses paid during period” is based on the Fund’s actual expense ratio for the most recent fiscal half-year, multiplied by the average account value over the six-month period, multiplied by 183/365. There were 183 days in the six months ended September 30, 2020. The Fund’s annualized six-month expense ratios for that period were 0.47% for the Institutional Class, 0.60% for the Advisor Class, 0.62% for the Premier Class, 0.72% for the Retirement Class and 0.77% for the Retail Class. The expense charges of one or more of the Fund’s share classes may reflect a waiver and/or reimbursement. Please see the prospectus for an explanation, including the date on which this reimbursement is scheduled to end. Without such waiver and/or reimbursement, the expenses of the affected share classes would be higher and their performance lower.

About the Fund’s benchmark

The FTSE Nareit All Equity REITs Index measures the performance of certain publicly traded real estate investment trusts in the United States that own, manage and lease investment-grade commercial real estate.

You cannot invest directly in any index. Index returns do not include a deduction for fees or expenses. For additional details about the benchmark index, please read the Fund’s latest prospectus.

FTSE International Limited (“FTSE”) © FTSE 2020. FTSE^® is a trademark of the London Stock Exchange Group companies and is used by FTSE International Limited under license. Nareit^® is a trademark of the National Association of Real Estate Investment Trusts (“Nareit”). All intellectual property rights in the Index vest in FTSE and Nareit. Neither FTSE nor its licensors accept any liability for any errors or omissions in the FTSE indices and/or FTSE ratings or underlying data. No further distribution of FTSE Data is permitted without FTSE’s express written consent.

8 2020 Semiannual Report  ■  TIAA-CREF Real Estate Securities Fund

Real Estate Securities Fund

Performance for the six months ended September 30, 2020

The Real Estate Securities Fund returned 16.35% for the Institutional Class, compared with the 14.59% return of its benchmark, the FTSE Nareit All Equity REITs Index. For the one-year period ended September 30, 2020, the Fund returned –5.93%, versus –12.15% for the index. The performance table shows returns for all share classes of the Fund.

Jolted by COVID-19, economy showed signs of improvement later in the period

The U.S. economy contracted sharply during the period, absorbing the impact of global measures to limit the spread of COVID-19. Real gross domestic product decreased by an annualized rate of 31.4% in the second quarter of 2020. As containment efforts restricted business and travel, the unemployment rate spiked to 14.7% in April 2020. However, the rate steadily declined through the rest of the period, falling to 7.9% by September. The Federal Reserve left historically low interest rates in place during the period, maintaining the federal funds target rate at 0.00%–0.25%. In September, policymakers indicated they will keep the key short-term interest-rate measure at this level as long as the unemployment rate remains elevated and inflation stays below 2.0%.

For the period, the FTSE Nareit All Equity REITs Index trailed the 33.26% return of the broad U.S. stock market, as measured by the Russell 3000^® Index, but it surpassed the 3.53% return of the broad U.S. investment-grade fixed-rate bond market, as represented by the Bloomberg Barclays U.S. Aggregate Bond Index.

Most sectors posted gains

Among the benchmark’s 16 property sectors and subsectors, nearly all were positive for the period. The largest gains were seen in the timber REITs (up 54.6%), single-family homes (up 27.4%) and freestanding retail (up 26.1%) sectors. The worst performer was the office sector (down 3.0%).

Fund advanced and surpassed its benchmark

For the six-month period, the Fund posted strong gains and outperformed its benchmark, mostly due to astute security selection. An out-of-benchmark allocation to technology service provider Megaport and an overweight position in residential leasing company Invitation Homes contributed most to the Fund’s relative performance, as both produced double-digit gains. Not owning residential REIT UDR was also beneficial.

These positive effects were partly offset by underweight positions in paper and forest products company Weyerhaeuser, which posted strong results during the period, Hudson Pacific Properties, an office property REIT, and Simon Property Group, a retail REIT.

TIAA-CREF Real Estate Securities Fund  ■  2020 Semiannual Report 9

Real Estate Securities Fund

Performance as of September 30, 2020

Real Estate Securities Fund		Total return						Average annual total return						Annual operating expenses*
	Inception date	6 months			1 year			5 years			10 years			gross			net
Institutional Class	10/1/02		16.35	%		–5.93	%		8.10	%		10.07	%		0.50	%		0.50	%
Advisor Class	12/4/15		16.28			–6.05			7.99	†		10.01	†		0.62			0.62
Premier Class	9/30/09		16.32			–6.03			7.94			9.90			0.65			0.65
Retirement Class	10/1/02		16.24			–6.10			7.84			9.79			0.75			0.75
Retail Class	10/1/02		16.25			–6.17			7.78			9.73			0.79			0.79
FTSE Nareit All Equity REITs Index	—		14.59			–12.15			6.61			9.20			—			—

The returns in this report show past performance, which is no guarantee of future results. The returns do not reflect taxes that a shareholder would pay on fund distributions or on the sale of fund shares. Returns and the principal value of your investment will fluctuate. Current performance may be higher or lower than that shown, and you may have a gain or a loss when you redeem your shares. For current performance information, including performance to the most recent month-end, please visit TIAA.org. Performance may reflect waivers or reimbursements of certain expenses. Absent these waivers or reimbursement arrangements, performance would be lower.

You cannot invest directly in any index. Index returns do not include a deduction for fees or expenses.

*

The gross and net annual operating expenses are taken from the Fund’s prospectus. The net annual operating expenses may at times reflect a contractual reimbursement of various expenses. The expense reimbursement will continue through at least July 31, 2021, unless changed with the approval of the Board of Trustees. Without these reimbursements, expenses would be higher and returns lower.

†

The performance shown for the Advisor Class that is prior to its inception date is based on the performance of the Institutional Class. The performance for these periods has not been restated to reflect the actual expenses of the Advisor Class. If these actual expenses had been reflected, the performance of the Advisor Class shown for these periods would have been different because the Advisor Class has different expenses than the Institutional Class.

10 2020 Semiannual Report  ■  TIAA-CREF Real Estate Securities Fund

Real Estate Securities Fund

Portfolio composition

Sector	% of net assets as of 9/30/2020
Specialized REITs	35.8
Residential REITs	17.9
Industrial REITs	15.0
Health care REITs	7.7
Retail REITs	6.6
Office REITs	5.2
Internet services & infrastructure	2.6
Hotel & resort REITs	1.7
Asset management & custody banks	1.3
Other diversified financial services	1.0
Casinos & gaming	0.9
Diversified REITs	0.9
Hotels, resorts & cruise lines	0.6
Short-term investments, other assets & liabilities, net	2.8
Total	100.0

Fund profile

	as of 9/30/2020
Net assets	$2.69 billion
Portfolio turnover rate*	11%
Number of holdings	74
Weighted median market capitalization	$19.33 billion
Price/earnings ratio (weighted
12-month trailing average)†	48.2

*	The portfolio turnover rate covers the six-month period from April 1, 2020–September 30, 2020, and is not annualized.
†	Price/earnings ratio is the price of a stock divided by its earnings per share for the past twelve-month period.

Holdings by company size

Market capitalization	% of equity investments as of 9/30/2020
More than $50 billion	28.0
More than $15 billion–$50 billion	28.9
More than $2 billion–$15 billion	41.8
$2 billion or less	1.3
Total	100.0

TIAA-CREF Real Estate Securities Fund  ■  2020 Semiannual Report 11

Portfolio of investments (unaudited)

Real Estate Securities Fund  ■  September 30, 2020

Shares		Company	Value
COMMON STOCKS—97.2%
ASSET MANAGEMENT & CUSTODY BANKS—1.3%
	450,000	iShares Dow Jones US Real Estate Index Fund	$	35,928,000
		TOTAL ASSET MANAGEMENT & CUSTODY BANKS		35,928,000
CASINOS & GAMING—0.9%
	170,000	Las Vegas Sands Corp		7,932,200
	500,000	MGM Resorts International		10,875,000
	85,000	Wynn Resorts Ltd		6,103,850
		TOTAL CASINOS & GAMING		24,911,050
DIVERSIFIED REITS—0.9%
	110,000	Essential Properties Realty Trust, Inc		2,015,200
	500,000	STORE Capital Corp		13,715,000
	135,000	WP Carey, Inc		8,796,600
		TOTAL DIVERSIFIED REITS		24,526,800
HEALTH CARE REITS—7.7%
	325,000	Healthcare Trust of America, Inc		8,450,000
	1,800,000	Healthpeak Properties Inc		48,870,000
	500,000	Medical Properties Trust, Inc		8,815,000
	575,000	Omega Healthcare Investors, Inc		17,215,500
	850,000	Sabra Healthcare REIT, Inc		11,717,250
	1,100,000	Ventas, Inc		46,156,000
	1,200,000	Welltower, Inc		66,108,000
		TOTAL HEALTH CARE REITS		207,331,750
HOTEL & RESORT REITS—1.7%
	1,350,000	Host Hotels and Resorts, Inc		14,566,500
	575,000	MGM Growth Properties LLC		16,088,500
	1,300,000	Park Hotels & Resorts, Inc		12,987,000
	200,000	Pebblebrook Hotel Trust		2,506,000
		TOTAL HOTEL & RESORT REITS		46,148,000
HOTELS, RESORTS & CRUISE LINES—0.6%
	100,000	Hilton Worldwide Holdings, Inc		8,532,000
	70,000	Marriott International, Inc (Class A)		6,480,600
		TOTAL HOTELS, RESORTS & CRUISE LINES		15,012,600
INDUSTRIAL REITS—15.0%
	820,000	Americold Realty Trust		29,315,000
	800,000	Duke Realty Corp		29,520,000
	175,000	EastGroup Properties, Inc		22,632,750
	1,950,000	Prologis, Inc		196,209,000
	1,950,000	Rexford Industrial Realty, Inc		89,232,000
	700,000	Terreno Realty Corp		38,332,000
		TOTAL INDUSTRIAL REITS		405,240,750

12 2020 Semiannual Report  ■  TIAA-CREF Real Estate Securities Fund See notes to financial statements

Portfolio of investments (unaudited)	continued
Real Estate Securities Fund  ■  September 30, 2020

Shares			Company	Value
INTERNET SERVICES & INFRASTRUCTURE—2.6%
	425,000	*	GDS Holdings Ltd (ADR)	$	34,777,750
	1,900,000	*	Megaport Ltd		22,037,397
	1,600,000	*	NEXTDC Ltd		14,198,573
			TOTAL INTERNET SERVICES & INFRASTRUCTURE		71,013,720
OFFICE REITS—5.2%
	415,000		Alexandria Real Estate Equities, Inc		66,400,000
	355,000		Boston Properties, Inc		28,506,500
	200,000		Highwoods Properties, Inc		6,714,000
	240,000		Kilroy Realty Corp		12,470,400
	300,000		SL Green Realty Corp		13,911,000
	325,000		Vornado Realty Trust		10,955,750
			TOTAL OFFICE REITS		138,957,650
OTHER DIVERSIFIED FINANCIAL SERVICES—1.0%
	350,000		Vanguard REIT ETF		27,636,000
			TOTAL OTHER DIVERSIFIED FINANCIAL SERVICES		27,636,000
RESIDENTIAL REITS—17.9%
	1,550,000		American Homes 4 Rent		44,144,000
	265,000		AvalonBay Communities, Inc		39,575,100
	230,000		Camden Property Trust		20,465,400
	1,450,000		Equity Lifestyle Properties, Inc		88,885,000
	820,000		Equity Residential		42,090,600
	85,000		Essex Property Trust, Inc		17,067,150
	2,825,000		Invitation Homes, Inc		79,071,750
	430,000		Mid-America Apartment Communities, Inc		49,858,500
	715,000		Sun Communities, Inc		100,536,150
			TOTAL RESIDENTIAL REITS		481,693,650
RETAIL REITS—6.6%
	425,000		Agree Realty Corp		27,047,000
	400,000		Brixmor Property Group, Inc		4,676,000
	425,000		Kimco Realty Corp		4,785,500
	300,000		Macerich Co		2,037,000
	750,000		Realty Income Corp		45,562,500
	825,000		Regency Centers Corp		31,366,500
	730,000		Simon Property Group, Inc		47,216,400
	800,000		SITE Centers Corp		5,760,000
	150,000		Spirit Realty Capital, Inc		5,062,500
	100,000		Taubman Centers, Inc		3,329,000
			TOTAL RETAIL REITS		176,842,400

See notes to financial statements TIAA-CREF Real Estate Securities Fund  ■  2020 Semiannual Report 13

Portfolio of investments (unaudited)	concluded
Real Estate Securities Fund  ■  September 30, 2020

Shares			Company				Value
SPECIALIZED REITS—35.8%
	1,000,000		American Tower Corp				$	241,730,000
	730,000		Crown Castle International Corp					121,545,000
	250,000		CyrusOne, Inc					17,507,500
	545,000		Digital Realty Trust, Inc					79,984,200
	228,000		Equinix, Inc					173,309,640
	290,000		Extra Space Storage, Inc					31,027,100
	1,012,489		Gaming and Leisure Properties, Inc					37,391,219
	130,000		Lamar Advertising Co					8,602,100
	280,000		Outfront Media, Inc					4,074,000
	270,000		Public Storage, Inc					60,134,400
	135,000		QTS Realty Trust, Inc					8,507,700
	265,000		SBA Communications Corp					84,397,200
	425,000		Uniti Group, Inc					4,477,375
	1,775,000		VICI Properties, Inc					41,481,750
	1,750,000		Weyerhaeuser Co					49,910,000
			TOTAL SPECIALIZED REITS					964,079,184
			TOTAL COMMON STOCKS (Cost $1,897,519,357)					2,619,321,554
Principal			Issuer	Rate		Maturity date
SHORT-TERM INVESTMENTS—2.5%
GOVERNMENT AGENCY DEBT—0.9%
$	14,651,000		Federal Home Loan Bank (FHLB)	0.075–0.105	%	10/23/20		14,650,463
	10,000,000		FHLB	0.075		11/03/20		9,999,358
			TOTAL GOVERNMENT AGENCY DEBT					24,649,821
REPURCHASE AGREEMENT—0.5%
	13,545,000	r	Fixed Income Clearing Corp (FICC)	0.070		10/1/20		13,545,000
			TOTAL REPURCHASE AGREEMENT					13,545,000
TREASURY DEBT—1.1%
	28,685,000		United States Treasury Bill	0.081		10/06/20		28,684,731
			TOTAL TREASURY DEBT					28,684,731
			TOTAL SHORT-TERM INVESTMENTS (Cost $66,879,239)					66,879,552
			TOTAL INVESTMENTS—99.7% (Cost $1,964,398,596)					2,686,201,106
			OTHER ASSETS & LIABILITIES, NET—0.3%					8,529,196
			NET ASSETS—100.0%				$	2,694,730,302

Abbreviation(s):

ADR	American Repository Receipts
ETF	Exchange Traded Funds
REIT	Real Estate Investment Trust
*  Non-income producing
r	Agreement with Fixed Income Clearing Corporation, 0.070% dated 9/30/20 to be repurchased at $13,545,000 on 10/01/20, collateralized by U.S. Treasury Notes valued at $13,815,915.

14 2020 Semiannual Report  ■  TIAA-CREF Real Estate Securities Fund See notes to financial statements

Statement of assets and liabilities (unaudited)

Real Estate Securities Fund  ■  September 30, 2020

ASSETS
Portfolio investments, at value†	$	2,686,201,106
Cash		503,563
Receivable from Fund shares sold		2,115,225
Dividends and interest receivable		7,833,794
Due from affiliates		55,721
Other		288,593
Total assets		2,696,998,002
LIABILITIES
Management fees payable		1,054,653
Service agreement fee payable		105,324
Distribution fee payable		68,639
Due to affiliates		22,276
Payable for Fund shares redeemed		681,259
Payable for trustee compensation		187,252
Accrued expenses and other payables		148,297
Total liabilities		2,267,700
NET ASSETS	$	2,694,730,302
NET ASSETS CONSIST OF:
Paid-in-capital	$	2,093,268,541
Total distributable earnings (loss)		601,461,761
Net Assets	$	2,694,730,302
INSTITUTIONAL CLASS:
Net assets	$	1,844,084,941
Outstanding shares of beneficial interest, unlimited shares authorized ($.0001 par value)		112,552,616
Net asset value per share	$	16.38
ADVISOR CLASS:
Net Assets	$	49,489,571
Outstanding shares of beneficial interest, unlimited shares authorized ($.0001 par value)		3,018,924
Net asset value per share	$	16.39
PREMIER CLASS:
Net assets	$	43,434,316
Outstanding shares of beneficial interest, unlimited shares authorized ($.0001 par value)		2,648,401
Net asset value per share	$	16.40
RETIREMENT CLASS:
Net assets	$	452,121,538
Outstanding shares of beneficial interest, unlimited shares authorized ($.0001 par value)		26,378,624
Net asset value per share	$	17.14
RETAIL CLASS:
Net assets	$	305,599,936
Outstanding shares of beneficial interest, unlimited shares authorized ($.0001 par value)		18,808,358
Net asset value per share	$	16.25
†   Portfolio investments, cost	$	1,964,398,596

See notes to financial statements TIAA-CREF Real Estate Securities Fund  ■  2020 Semiannual Report 15

Statement of operations (unaudited)

Real Estate Securities Fund  ■  For the period ended September 30, 2020

INVESTMENT INCOME
Dividends	$	29,606,399
Payment from affiliate		196,368
Interest		30,712
Total income		29,833,479
EXPENSES
Management fees		6,003,430
Shareholder servicing — Institutional Class		3,731
Shareholder servicing — Advisor Class		22,685
Shareholder servicing — Premier Class		116
Shareholder servicing — Retirement Class		555,868
Shareholder servicing — Retail Class		70,235
Distribution fees — Premier Class		33,041
Distribution fees — Retail Class		368,908
Administrative service fees		31,970
Trustee fees and expenses		18,091
Other expenses		170,861
Total expenses		7,278,936
Less: Fee waiver by investment adviser and Nuveen Securities		(268,972	)
Net expenses		7,009,964
Net investment income (loss)		22,823,515
NET REALIZED AND UNREALIZED GAIN (LOSS) ON TOTAL INVESTMENTS
Realized gain (loss):
Portfolio investments		(41,836,979	)
Foreign currency transactions		10,961
Net realized gain (loss) on total investments		(41,826,018	)
Net change in unrealized appreciation (depreciation) on total investments		377,181,919
Net realized and unrealized gain (loss) on total investments		335,355,901
Net increase (decrease) in net assets from operations	$	358,179,416

16 2020 Semiannual Report  ■  TIAA-CREF Real Estate Securities Fund See notes to financial statements

Statements of changes in net assets

Real Estate Securities Fund  ■  For the period or year ended

		September 30, 2020				March 31, 2020
			(unaudited)
OPERATIONS
Net investment income (loss)			$	22,823,515			$	49,063,106
Net realized gain (loss) on total investments				(41,826,018	)			17,076,313
Net change in unrealized appreciation (depreciation) on total investments				377,181,919				(317,323,031	)
Net increase (decrease) in net assets from operations				358,179,416				(251,183,612	)
DISTRIBUTIONS TO SHAREHOLDERS
	Institutional Class			(16,748,691	)			(112,689,391	)
	Advisor Class			(347,510	)			(1,424,454	)
	Premier Class			(365,357	)			(3,714,969	)
	Retirement Class			(3,492,425	)			(28,450,093	)
	Retail Class			(2,402,504	)			(19,101,670	)
Total distributions				(23,356,487	)			(165,380,577	)
SHAREHOLDER TRANSACTIONS
Subscriptions:	Institutional Class			323,893,246				463,216,863
	Advisor Class			34,875,488				40,647,619
	Premier Class			5,229,156				11,494,447
	Retirement Class			12,486,758				77,265,402
	Retail Class			38,106,504				111,171,217
Reinvestments of distributions:	Institutional Class			16,113,006				106,877,507
	Advisor Class			344,945				1,409,599
	Premier Class			365,269				3,714,317
	Retirement Class			3,492,425				28,449,867
	Retail Class			2,285,455				18,220,255
Redemptions:	Institutional Class			(150,067,320	)			(450,403,787	)
	Advisor Class			(11,037,417	)			(20,909,263	)
	Premier Class			(12,545,044	)			(42,211,656	)
	Retirement Class			(23,303,695	)			(54,545,829	)
	Retail Class			(38,822,544	)			(62,838,783	)
Net increase (decrease) from shareholder transactions				201,416,232				231,557,775
Net increase (decrease) in net assets				536,239,161				(185,006,414	)
NET ASSETS
Beginning of period				2,158,491,141				2,343,497,555
End of period			$	2,694,730,302			$	2,158,491,141

See notes to financial statements TIAA-CREF Real Estate Securities Fund  ■  2020 Semiannual Report 17

Statements of changes in net assets	concluded
Real Estate Securities Fund  ■  For the period or year ended

		September 30, 2020			March 31, 2020
		(unaudited)
CHANGE IN FUND SHARES
Shares sold:	Institutional Class		20,314,348			25,925,346
	Advisor Class		2,181,679			2,330,756
	Premier Class		333,664			653,541
	Retirement Class		747,876			4,153,421
	Retail Class		2,394,980			6,284,808
Shares reinvested:	Institutional Class		987,364			6,245,330
	Advisor Class		21,100			82,676
	Premier Class		22,365			215,881
	Retirement Class		204,672			1,588,105
	Retail Class		141,296			1,073,178
Shares redeemed:	Institutional Class		(9,409,704	)		(25,249,177	)
	Advisor Class		(709,462	)		(1,205,588	)
	Premier Class		(803,468	)		(2,366,418	)
	Retirement Class		(1,408,111	)		(3,058,627	)
	Retail Class		(2,460,154	)		(3,767,729	)
Net increase (decrease) from shareholder transactions			12,558,445			12,905,503

18 2020 Semiannual Report  ■  TIAA-CREF Real Estate Securities Fund See notes to financial statements

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TIAA-CREF Real Estate Securities Fund  ■  2020 Semiannual Report 19

Financial highlights

Real Estate Securities Fund

	Selected per share data																												Ratios and supplemental data
			Gain (loss) from investment operations
						Net realized																										Ratios to average net assets
For the	Net asset		Net			& unrealized			Total gain			Less distributions from						Total			Net asset					Total return			Net assets									Net			Net investment
period or year ended	value, beginning of period		investment income (loss		)a	gain (loss on total investments		)	(loss) from investment operations			Net investment income			Net realized gains			dividends and distributions			value, end of period		Total return			excluding payment from affiliates		u	at end of period (in thousands		)	Gross expense			Net expense			investment income (loss		)		income (loss excluding payments from affiliates		)   u	Portfolio turnover rate
Institutional Class
9/30/20#	$	14.21	$	0.15		$	2.17		$	2.32		$	(0.15	)	$	—		$	(0.15	)	$	16.38		16.35	%b		16.34	%b	$	1,844,085			0.49	%c		0.47	%c		1.90	%c			1.88	%c		11	%b
3/31/20		16.88		0.35			(1.89	)		(1.54	)		(0.33	)		(0.80	)		(1.13	)		14.21		(10.16	)		(10.17	)		1,430,143			0.50			0.50			1.95				1.94			39
3/31/19		14.65		0.33			2.40			2.73			(0.36	)		(0.14	)		(0.50	)		16.88		18.91			18.90			1,582,056			0.51			0.51			2.13				2.12			34
3/31/18		15.31		0.32			0.26			0.58			(0.28	)		(0.96	)		(1.24	)		14.65		3.45			3.44			1,298,830			0.51			0.51			2.08				2.07			30
3/31/17		15.44		0.27			0.15			0.42			(0.32	)		(0.23	)		(0.55	)		15.31		2.82			2.79			1,448,714			0.51			0.50			1.79				1.76			52
3/31/16		15.92		0.36			0.15			0.51			(0.34	)		(0.65	)		(0.99	)		15.44		3.76			3.76			1,288,020			0.51			0.47			2.44				2.44			33
Advisor Class
9/30/20#		14.22		0.14			2.17			2.31			(0.14	)		—			(0.14	)		16.39		16.28	b		16.27	b		49,490			0.62	c		0.60	c		1.73	c			1.72	c		11	b
3/31/20		16.89		0.32			(1.88	)		(1.56	)		(0.31	)		(0.80	)		(1.11	)		14.22		(10.27	)		(10.28	)		21,689			0.62			0.62			1.79				1.78			39
3/31/19		14.66		0.18			2.54			2.72			(0.35	)		(0.14	)		(0.49	)		16.89		18.76			18.75			5,366			0.64			0.64			1.19				1.18			34
3/31/18		15.32		0.31			0.25			0.56			(0.26	)		(0.96	)		(1.22	)		14.66		3.31			3.30			1,235			0.65			0.65			1.98				1.98			30
3/31/17		15.44		0.18			0.24			0.42			(0.31	)		(0.23	)		(0.54	)		15.32		2.82			2.80			579			0.56			0.56			1.20				1.18			52
3/31/16‡		15.38		0.11			0.80			0.91			(0.20	)		(0.65	)		(0.85	)		15.44		6.37	b		6.37	b		107			0.73	c		0.61	c		2.47	c			2.47	c		33
Premier Class
9/30/20#		14.22		0.14			2.18			2.32			(0.14	)		—			(0.14	)		16.40		16.32	b		16.31	b		43,434			0.64	c		0.62	c		1.70	c			1.68	c		11	b
3/31/20		16.89		0.32			(1.88	)		(1.56	)		(0.31	)		(0.80	)		(1.11	)		14.22		(10.31	)		(10.32	)		44,026			0.65			0.65			1.80				1.79			39
3/31/19		14.66		0.30			2.41			2.71			(0.34	)		(0.14	)		(0.48	)		16.89		18.72			18.71			77,572			0.66			0.66			1.97				1.96			34
3/31/18		15.32		0.30			0.25			0.55			(0.25	)		(0.96	)		(1.21	)		14.66		3.28			3.27			79,281			0.66			0.66			1.94				1.94			30
3/31/17		15.44		0.25			0.16			0.41			(0.30	)		(0.23	)		(0.53	)		15.32		2.73			2.70			94,236			0.66			0.65			1.66				1.63			52
3/31/16		15.93		0.34			0.14			0.48			(0.32	)		(0.65	)		(0.97	)		15.44		3.54			3.54			85,298			0.66			0.61			2.31				2.31			33
Retirement Class
9/30/20#		14.86		0.14			2.27			2.41			(0.13	)		—			(0.13	)		17.14		16.24	b		16.23	b		452,122			0.74	c		0.72	c		1.63	c			1.62	c		11	b
3/31/20		17.60		0.32			(1.97	)		(1.65	)		(0.29	)		(0.80	)		(1.09	)		14.86		(10.39	)		(10.40	)		398,674			0.75			0.75			1.70				1.69			39
3/31/19		15.25		0.30			2.51			2.81			(0.32	)		(0.14	)		(0.46	)		17.60		18.67			18.66			424,963			0.76			0.76			1.88				1.87			34
3/31/18		15.90		0.30			0.25			0.55			(0.24	)		(0.96	)		(1.20	)		15.25		3.12			3.11			350,291			0.76			0.76			1.85				1.84			30
3/31/17		16.00		0.25			0.16			0.41			(0.28	)		(0.23	)		(0.51	)		15.90		2.66			2.63			335,327			0.76			0.75			1.58				1.55			52
3/31/16		16.47		0.34			0.14			0.48			(0.30	)		(0.65	)		(0.95	)		16.00		3.42			3.42			317,204			0.76			0.72			2.19				2.19			33
Retail Class
9/30/20#		14.09		0.13			2.16			2.29			(0.13	)		—			(0.13	)		16.25		16.25	b		16.24	b		305,600			0.79	c		0.77	c		1.58	c			1.57	c		11	b
3/31/20		16.74		0.29			(1.86	)		(1.57	)		(0.28	)		(0.80	)		(1.08	)		14.09		(10.41	)		(10.42	)		263,960			0.79			0.79			1.66				1.65			39
3/31/19		14.54		0.28			2.38			2.66			(0.32	)		(0.14	)		(0.46	)		16.74		18.50			18.49			253,540			0.81			0.81			1.86				1.85			34
3/31/18		15.21		0.28			0.24			0.52			(0.23	)		(0.96	)		(1.19	)		14.54		3.09			3.08			223,112			0.81			0.81			1.79				1.78			30
3/31/17		15.33		0.24			0.14			0.38			(0.27	)		(0.23	)		(0.50	)		15.21		2.59			2.56			225,844			0.82			0.81			1.55				1.52			52
3/31/16		15.82		0.32			0.14			0.46			(0.30	)		(0.65	)		(0.95	)		15.33		3.40			3.40			234,588			0.82			0.77			2.15				2.15			33

#	Unaudited
‡	Advisor Class commenced operations on December 4, 2015.
a	Based on average shares outstanding.
b	The percentages shown for this period are not annualized.
c	The percentages shown for this period are annualized.
u	Income reflects voluntary compensation from Advisors in amounts that approximate a portion of the cost of research services obtained from broker-dealers and research providers if Advisors had purchased the research services directly. The total return and net investment income ratio displayed excludes this item.

20 2020 Semiannual Report  ■  TIAA-CREF Real Estate Securities Fund See notes to financial statements See notes to financial statements TIAA-CREF Real Estate Securities Fund  ■  2020 Semiannual Report 21

Notes to financial statements (unaudited)

Real Estate Securities Fund

Note 1—organization

The TIAA-CREF Real Estate Securities 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 (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”), as an open-end management investment company.

Teachers Advisors, LLC (“Advisors”), a wholly owned indirect subsidiary of Teachers Insurance and Annuity Association of America (“TIAA”), is registered with the SEC as an investment adviser and provides investment management services for the Fund.

The Fund offers its shares, without a sales load, through its principal underwriter, Nuveen Securities, LLC (“Nuveen Securities”), which is a wholly owned indirect subsidiary of TIAA.

The Fund offers five share classes: Institutional Class, Advisor Class, Premier Class, Retirement Class and Retail Class shares. Each class differs by the allocation of class-specific expenses and voting rights in matters affecting a single class.

Note 2—significant accounting policies

The accompanying financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”), which may require the use of estimates made by management and the evaluation of subsequent events. 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 Net Asset Value (“NAV”) for financial reporting purposes may differ from the NAV for processing transactions. The NAV for financial reporting purposes includes security and shareholder transactions through the date of the report. Total return is computed based on the NAV used for processing transactions. The following is a summary of the significant accounting policies consistently followed by the Fund.

Investments and investment income: Securities transactions are accounted for as of the trade date for financial reporting purposes. Interest income is recorded on an accrual basis and includes accretion of discounts and amortization of premiums. Dividend income is recorded on the ex-dividend date. Foreign dividend income is recorded on the ex-dividend date or as soon as possible after the Fund determines the existence of a dividend declaration. Realized gains and losses on securities transactions are based upon the specific identification method. Distributions received on securities that represent a return of capital or capital gains are recorded as a reduction of cost of investments and/or as a realized gain. The Fund estimates the components of distributions received that may be considered return of capital distributions or capital gain distributions.

22 2020 Semiannual Report  ■  TIAA-CREF Real Estate Securities Fund

Multiclass operations and allocations: Income, expenses, realized gains and losses and unrealized appreciation and depreciation of the Fund are allocated on a pro rata basis to each class of shares, except for service agreement fees, distribution fees and transfer agency fees and expenses, which are unique to each class of shares. Most expenses of the Trust can be directly attributed to a fund. Expenses that cannot be directly attributed are allocated to each fund in the Trust based upon the average net assets of each fund.

Distributions to shareholders: Distributions to shareholders are recorded on the ex-dividend date. The amount, character and timing of distributions are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP.

Foreign currency transactions and translation: The books and records of the Fund are maintained in U.S. dollars. Assets, including investments, and liabilities denominated in foreign currencies are translated into U.S. dollars at the end of each day. Purchases and sales of securities, income, and expenses are translated into U.S. dollars at the prevailing exchange rate on the respective dates of the transactions.

Net realized foreign currency gains and losses resulting from changes in exchange rates associated with (i) foreign currency, (ii) investments and (iii) derivatives include foreign currency gains and losses between trade date and settlement date of the transactions, foreign currency transactions, and the difference between the amounts of interest and dividends recorded on the books of the Fund and the amounts actually received and are recognized as a component of “Net realized gain (loss) on total investments” on the Statement of operations, when applicable.

The unrealized gains and losses resulting from changes in foreign currency exchange rates and changes in foreign exchange rates associated with (i) investments and (ii) other assets and liabilities are recognized as a component of “Net change in unrealized appreciation (depreciation) on total investments” on the Statement of operations, when applicable.

Trustee compensation: The Fund pays the members of the Board of Trustees (“Board”), all of whom are independent, certain remuneration for their services, plus travel and other expenses. Trustees may elect to participate in a deferred compensation plan and defer all or a portion of their compensation. In addition, trustees participate in a long-term compensation plan. Amounts deferred are retained by the Fund until paid. Amounts payable to the trustees for compensation are included separately in the accompanying Statement of assets and liabilities. Trustees’ fees, including any deferred and long-term compensation incurred, are reflected in the Statement of operations.

Indemnification: Under the Trust’s organizational documents, its officers and directors are indemnified against certain liabilities arising out of the performance of their duties to the Trust. In addition, in the normal course of business, the Trust enters into contracts that provide general indemnifications to other parties. The Trust’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Trust that have not yet occurred.

TIAA-CREF Real Estate Securities Fund  ■  2020 Semiannual Report 23

Notes to financial statements (unaudited)

However, the Trust has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

Other matters: The outbreak of the novel coronavirus (“COVID-19”) and subsequent global pandemic began significantly impacting the U.S. and global financial markets and economies during the calendar quarter ended March 31, 2020. The worldwide spread of COVID-19 has created significant uncertainty in the global economy. The duration and extent of COVID-19 over the long term cannot be reasonably estimated at this time. The ultimate impact of COVID-19 and the extent to which COVID-19 impacts the Fund’s normal course of business, results of operations, investments, and cash flows will depend on future developments, which are highly uncertain and difficult to predict. Management continues to monitor and evaluate this situation.

Note 3—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:

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

24 2020 Semiannual Report  ■  TIAA-CREF Real Estate Securities Fund

continued

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

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.

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

The following table summarizes the market value of the Fund’s investments as of September 30, 2020, based on the inputs used to value them:

	Level 1		Level 2		Level 3		Total
Equity investments:
Internet services & infrastructure	$	34,777,750	$	36,235,970	$	—	$	71,013,720
All other equity investments*		2,548,307,834		—		—		2,548,307,834
Short-term investments		—		66,879,552		—		66,879,552
Total	$	2,583,085,584	$	103,115,522	$	—	$	2,686,201,106

* For detailed categories, see the accompanying Portfolio of investments.

Note 4—investments

Repurchase Agreements: In connection with transactions in repurchase agreements, it is the Fund’s policy that its custodian take possession of the underlying collateral securities, the fair value of which exceeds the principal amount of the repurchase transaction, including accrued interest, at all times. If the counterparty defaults, and the fair value of the collateral declines, realization of the collateral may be delayed or limited.

TIAA-CREF Real Estate Securities Fund  ■  2020 Semiannual Report 25

Notes to financial statements (unaudited)

Purchases and sales: Purchases and sales of securities (other than short-term instruments) for the Fund for the period ended September 30, 2020 were as follows:

Non-U.S. government purchases	Non-U.S. government sales
$466,808,826	$267,539,409

Note 5—income tax and other tax matters

Income taxes: The Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“Code”) and will not be subject to income taxes to the extent that the Fund distributes all taxable income each year and complies with various other Code requirements. The Fund files income tax returns in U.S. federal and applicable state and local jurisdictions. The Fund’s federal income tax returns are generally subject to examination for a period of three fiscal years after being filed. State and local tax returns may be subject to examination for an additional period of time depending on the jurisdiction. Management has analyzed the Fund’s tax positions taken for all open federal income tax years and has concluded that no provision for federal income tax is required in the Fund’s financial statements.

The timing and character of income and capital gain distributions are determined in accordance with income tax regulations, which may differ from U.S. GAAP. Reclassifications are made to the Fund’s capital accounts for permanent tax differences to reflect income and gains available for distribution (or available capital loss carryforwards) under income tax regulations.

Foreign taxes: The Fund may be subject to foreign taxes on income, gains on investments or currency repatriation, a portion of which may be recoverable. The Fund will accrue such taxes and recoveries as applicable, based upon the current interpretation of tax rules and regulations that exist in the markets in which the Fund invests.

Net unrealized appreciation (depreciation): At September 30, 2020, 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:

Tax cost	Gross unrealized appreciation	Gross unrealized (depreciation	)	Net unrealized appreciation (depreciation	)
$2,010,188,312	$789,530,973	$(113,518,179	)	$676,012,794

26 2020 Semiannual Report  ■  TIAA-CREF Real Estate Securities Fund

continued

For purposes of this disclosure, tax cost generally includes the cost of portfolio investments as well as up-front 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.

Distributions to shareholders: The tax character of distributions paid to shareholders during the year ended March 31, 2020 was as follows:

	Ordinary income	Long-term capital gains	Total
3/31/2020	$65,151,969	$100,228,608	$165,380,577

The tax character of the fiscal year 2021 distributions will be determined at the end of the fiscal year.

Note 6—investment adviser and other transactions with affiliates

Under the terms of its Investment Management Agreement, the Fund pays Advisors a monthly fee based on the annual rate of between 0.35% and 0.50% of the Fund’s average daily net assets for the management of the Fund’s investment portfolio. The investment management fee effective rate is 0.48% as of September 30, 2020. Effective May 1, 2020, Advisors agreed to voluntarily waive a portion of the investment management fee. The investment management fee after the waiver was between 0.325% and 0.475%. This waiver is voluntary in nature and can be discontinued at any time without prior notice to shareholders upon Board approval. The fee range represents a breakpoint schedule that reduces investment management fees as the Fund’s net assets increase. The Fund has entered into an Administrative Service Agreement with Advisors under which the Fund pays Advisors for its costs in providing certain administrative and compliance services to the Fund.

Under the terms of a Retirement Class Service Agreement, the Retirement Class of the Fund pays Advisors a monthly fee based on the annual rate of 0.25% of the Fund’s average daily net assets attributable to Retirement Class shares of the Fund for providing certain administrative costs associated with the maintenance of Retirement Class shares on retirement plan or other platforms. Substantially all of the Retirement Class shareholder servicing fees reported on the Statement of operations are paid to Advisors under the Service Agreement.

Under the terms of a distribution Rule 12b-1 plan, the Retail Class of the Fund compensates Nuveen Securities for providing distribution, promotional and/or shareholder services to the Retail Class of the Fund at the annual rate of 0.25% of the average daily net assets attributable to the Fund’s Retail Class. The Premier Class of the Fund is subject to a distribution Rule 12b-1 plan that compensates Nuveen Securities for providing distribution, promotional and/or shareholder services to the Premier Class of the Fund at the annual rate of 0.15% of the average daily net assets attributable to the Fund’s Premier Class.

Advisors has agreed to reimburse the Fund if its total expense ratio (excluding interest, taxes, brokerage commissions and other transactional expenses, acquired

TIAA-CREF Real Estate Securities Fund  ■  2020 Semiannual Report 27

Notes to financial statements (unaudited)

fund fees and expenses and extraordinary expenses) exceeds 0.545% of average daily net assets for the Institutional Class shares; 0.695% of average daily net assets for the Advisor Class shares; 0.695% of average daily net assets for the Premier Class shares; 0.795% of average daily net assets for the Retirement Class shares; and 0.935% of the average daily net assets for the Retail Class shares. The expense reimbursement arrangements will continue through at least July 31, 2021, unless changed with approval of the Board. Prior to May 1, 2020 the expense caps were 0.57% for the Institutional Class, 0.72% for the Advisor Class, 0.72% for the Premier Class, 0.82% for the Retirement Class, and 0.96% for the Retail Class.

Income, reflected in Payment from affiliate on the Statement of operations, reflects voluntary compensation from Advisors in amounts that approximate a portion of the cost of research services obtained from broker-dealers and research providers if Advisors had purchased the research services directly.

At September 30, 2020, TIAA Access, a registered separate account of TIAA, owned 12% of the Fund’s shares.

TIAA-CREF Tuition Financing, Inc. (“TFI”), a wholly owned direct subsidiary of TIAA, is a registered investment adviser that provides program management services to multiple qualified tuition programs formed under Section 529 of the Internal Revenue Code (“529 Plans”). These 529 Plans, each of which operates independently, invest a portion of their assets in the Fund. As of September 30, 2020, one 529 Plan owned 10% of the Real Estate Securities Fund.

Companies in which the Fund holds 5% or more of the outstanding voting shares are considered “affiliated companies” of the Fund, pursuant to the 1940 Act. As of September 30, 2020, there were no affiliated investments.

Note 7—inter-fund lending program

Pursuant to an exemptive order issued by the SEC, the Fund may participate in an inter-fund lending program. This program allows the Fund to lend cash to and/or borrow cash from certain other affiliated Funds for temporary purposes, (e.g., to satisfy redemption requests or to cover unanticipated cash shortfalls). The program is subject to a number of conditions, including the requirement that the Fund may not borrow or lend money under the program unless it receives a more favorable interest rate than is available from a bank or other financial institution for a comparable transaction. In addition, the Fund may participate in the program only if its participation is consistent with the Fund’s investment policies and limitations and authorized by its portfolio manager(s). During the period ended September 30, 2020, there were no inter-fund borrowing or lending transactions.

Note 8—line of credit

The Fund participates in a $1 billion unsecured revolving credit facility that can be used for temporary purposes, including, without limitation, the funding of shareholder

28 2020 Semiannual Report  ■  TIAA-CREF Real Estate Securities Fund

concluded

redemptions. The current facility was entered into on June 16, 2020 expiring on June 15, 2021, replacing the previous facility, which expired June 2020. Certain affiliated accounts and mutual funds, each of which is managed by Advisors, or an affiliate of Advisors, also participate in this facility. An annual commitment fee for the credit facility is borne by the participating accounts and mutual funds on a pro rata basis. Interest associated with any borrowing under the facility is charged to the borrowing accounts or mutual funds at a specified rate of interest. The Fund is not liable for borrowings under the facility by other affiliated accounts or mutual funds. For the period ended September 30, 2020, there were no borrowings under this credit facility by the Fund.

TIAA-CREF Real Estate Securities Fund  ■  2020 Semiannual Report 29

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How to reach us

Websites

TIAA.org

nuveen.com

Automated telephone service

800-842-2252

24 hours a day, 7 days a week

For the hearing- or speech-impaired

800-842-2755

8 a.m. to 10 p.m. (ET), Monday–Friday

You should carefully consider the investment objectives, risks, charges and expenses of any fund before investing. For a prospectus that contains this and other information, please visit TIAA.org, or call 800-842-2252 for the Institutional, Advisor, Premier and Retirement classes or 800-223-1200 for the Retail Class. Please read the prospectus carefully before investing. Investment, insurance and annuity products are not Federal Deposit Insurance Corporation (FDIC) insured, are not bank guaranteed, are not bank deposits, are not insured by any federal government agency, are not a condition to any banking service or activity, and may lose value. Nuveen, a subsidiary of TIAA, provides investment advice and portfolio management services through a dozen affiliated registered investment advisers. Nuveen Securities, LLC and TIAA-CREF Individual & Institutional Services, LLC, members FINRA, distribute securities products.

This material is for informational or educational purposes only and does not constitute fiduciary investment advice under ERISA, a securities recommendation under all securities laws, or an insurance product recommendation under state insurance laws or regulations. This material does not take into account any specific objectives or circumstances of any particular investor, or suggest any specific course of action. Investment decisions should be made based on the investor’s own objectives and circumstances.

©2020 Teachers Insurance and Annuity Association of America—College Retirement Equities Fund, 730 Third Avenue, New York, NY 10017-3206

  730 Third Avenue New York, NY 10017-3206 PRESORTED STANDARD   U.S. POSTAGE   PAID   TIAA

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TIAA-CREF
Funds September 30,
2020

TIAA-CREF

Fixed-Income Funds

The semiannual report contains the financial statements (unaudited).

Fund name	Institutional Class	Advisor Class	Premier Class	Retirement Class	Retail Class	Class W
Bond Index Fund	TBIIX	TBIAX	TBIPX	TBIRX	TBILX	TBIWX
Core Bond Fund (formerly Bond Fund)	TIBDX	TIBHX	TIDPX	TIDRX	TIORX	TBBWX
Core Impact Bond Fund (formerly Social Choice Bond Fund)	TSBIX	TSBHX	TSBPX	TSBBX	TSBRX	—
Core Plus Bond Fund (formerly Bond Plus Fund)	TIBFX	TCBHX	TBPPX	TCBRX	TCBPX	TCBWX
5–15 Year Laddered Tax-Exempt Bond Fund	TITIX	TIXHX	—	—	TIXRX	—
Green Bond Fund	TGRNX	TGRKX	TGRLX	TGRMX	TGROX	—
High-Yield Fund	TIHYX	TIHHX	TIHPX	TIHRX	TIYRX	TIHWX
Inflation-Linked Bond Fund	TIILX	TIIHX	TIKPX	TIKRX	TCILX	TIIWX
Short Duration Impact Bond Fund	TSDJX	TSDHX	TSDFX	TSDDX	TSDBX	—
Short-Term Bond Fund	TISIX	TCTHX	TSTPX	TISRX	TCTRX	TCTWX
Short-Term Bond Index Fund	TNSHX	TTBHX	TPSHX	TESHX	TRSHX	TTBWX
Money Market Fund	TCIXX	TMHXX	TPPXX	TIEXX	TIRXX	—

Semiannual Report

Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the TIAA-CREF Funds’ (the “Funds”) annual and semiannual shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports. Instead, they will be made available on TIAA’s website, TIAA.org, and you will be notified by mail each time a report is posted and provided with a website link to access the report.

If you have already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications from the Funds electronically anytime by either updating your account settings at TIAA.org/eDelivery, if you invest in the Funds directly or hold your Fund shares through a TIAA-affiliated financial intermediary, account or retirement plan (each, a “TIAA Account”), or by contacting your financial intermediary (such as a broker/dealer or bank) through which you hold Fund shares.

If you invest directly with the Funds or through a TIAA Account, you may elect to continue to receive all future shareholder reports in paper free of charge by updating your account settings at TIAA.org/eDelivery or by calling 800-842-2252 during regular business hours. If you invest through another financial intermediary, you can contact your financial intermediary to request that you continue receiving paper copies of your shareholder reports. Your election to receive reports in paper will apply to all funds held with the fund complex if you invest directly with the Funds or through a TIAA Account, or to all funds held through your financial intermediary.

Contents

Understanding this report	3
Letter to investors	4
Market monitor	6
Information for investors	7
About the funds’ benchmarks	8
Important information about expenses	9
Fund performance
Bond Index Fund	10
Core Bond Fund	12
Core Impact Bond Fund	14
Core Plus Bond Fund	16
5–15 Year Laddered Tax-Exempt Bond Fund	18
Green Bond Fund	20
High-Yield Fund	22
Inflation-Linked Bond Fund	24
Short Duration Impact Bond Fund	26
Short-Term Bond Fund	28
Short-Term Bond Index Fund	30
Money Market Fund	32
Summary portfolios of investments	34
Financial statements (unaudited)
Statements of assets and liabilities	62
Statements of operations	66
Statements of changes in net assets	68
Financial highlights	76
Notes to financial statements	89
How to reach us	Inside back cover

Understanding this report

For the purposes of this report, “TIAA-CREF Funds” refers only to the TIAA-CREF Fixed-Income Funds listed on the cover of this report.

This semiannual report contains information about certain TIAA-CREF Funds and describes their results for the six months ended September 30, 2020. The report contains four main sections:

• A letter from Brad Finkle, President of TIAA-CREF Funds, TIAA-CREF Life Funds and TIAA Investments.

• The fund performance section compares each fund’s investment returns with those of its benchmark index.

• The summary portfolios of investments list the issuers, industries and types of securities in which each fund had investments as of September 30, 2020.

• The financial statements provide detailed information about the operations and financial condition of each fund.

The views and opinions expressed in this report are through the end of the period, as stated on the cover of this report. They are subject to change at any time based on a variety of factors. As such, they are not guarantees of future performance or investment results and should not be taken as investment advice. To see the risks of investing in any fund, please read the latest prospectus.

As always, you should carefully consider the investment objectives, risks, charges and expenses of any fund before investing. For a prospectus that contains this and other important information, please visit our website at TIAA.org, or call 800-842-2252 for the Institutional, Advisor, Premier and Retirement classes or 800-223-1200 for the Retail Class. We urge you to read the prospectus carefully before investing.

TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 3

Brad Finkle

Letter to investors

The U.S. bond market produced solid results for the six months ended September 30, 2020—a difficult time dominated by the impact of the COVID-19 pandemic. Despite the turmoil, however, every major fixed-income sector posted gains for the period. All eleven TIAA-CREF Fixed-Income Funds, as well as the Money Market Fund, recorded positive results.

• The broad U.S. bond market, as measured by the Bloomberg Barclays U.S. Aggregate Bond Index, returned 3.5% for the period.

• Institutional Class returns for seven of the eleven fixed-income funds and the Money Market Fund exceeded the performances of their respective benchmarks. Please see page 8 for benchmark definitions.

• Of the four remaining fixed-income funds, two index funds and the Inflation-Linked Bond Fund modestly trailed their benchmarks, while the High-Yield Fund, which recorded a strong gain, also lagged its benchmark.

Bond market advanced amid economic turbulence

The U.S. economy was hit hard by COVID-19 and global efforts to limit the spread of the pandemic. The economy contracted sharply in the second calendar quarter of 2020, and the unemployment rate soared in April, though it declined in each subsequent month during the period. The price of crude oil, one indicator of economic demand, rebounded from steep declines during the period. The Federal Reserve maintained the federal funds target rate at 0.00%–0.25%. Policymakers said they intended to leave the key short-term interest-rate measure unchanged until unemployment declined further and inflation increased above 2.0%.

All fixed-income sectors advanced for the six months. The performance of the Bloomberg Barclays U.S. Aggregate Bond Index reflected solid gains generated by longer-term, higher-quality securities. High-yield bonds performed best with double-digit returns. Municipal bonds and U.S. Treasury inflation-protected securities were also strong performers. Short-term securities posted more modest gains.

All TIAA-CREF Funds posted gains

All of the TIAA-CREF Fixed-Income Funds generated positive returns for the six-month period. Performance for the Institutional Class ranged from 1.3% for the Short-Term Bond Index Fund to 13.1% for the High-Yield Fund.

The High-Yield Fund’s gain lagged its benchmark, the ICE BofA BB-B U.S. Cash Pay High Yield Constrained Index, due to certain positions that did not perform as anticipated.

The Green Bond Fund returned 9.2% and significantly outperformed its benchmark—the Bloomberg Barclays MSCI U.S. Green Bond Index—helped by out-of-benchmark holdings in asset-backed securities and municipal bonds.

Three funds handily outpaced their shared benchmark, the Bloomberg Barclays U.S. Aggregate Bond Index. The Core Plus Bond Fund (formerly the Bond Plus Fund) advanced 8.0%, more than doubling the 3.5% return of the benchmark; the Core Bond Fund (formerly the Bond Fund) gained 7.0%; and the Core Impact Bond Fund (formerly the Social Choice Bond Fund) returned 6.8%. Overweight positions in the corporate bond sector helped all three funds achieve this superior relative performance.

4 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

The Bond Index Fund returned 3.3% to modestly underperform the same benchmark, primarily due to the effect of expenses.

The Inflation-Linked Bond Fund gained 6.0% but fell short of its benchmark, the Bloomberg Barclays U.S. Treasury Inflation Protected Securities (TIPS) 1–10 Year Index—also mostly due to the effect of expenses. The 5–15 Year Laddered Tax-Exempt Bond Fund, helped by holdings in the transportation sector, returned 4.4% to outperform its benchmark.

Both the Short Duration Impact Bond Fund, which gained 5.8%, and the Short-Term Bond Fund, which advanced 3.6%, exceeded the performance of their shared benchmark, the Bloomberg Barclays U.S. 1–3 Year Government/Credit Bond Index. The Short-Term Bond Index Fund’s gain fell short of the same benchmark, mostly due to the effect of expenses.

The Money Market Fund gained 0.09%, exceeding the 0.02% return of the iMoneyNet Money Fund Averages™—All Government.

A detailed overview of the fixed-income markets during the period appears in our Market Monitor on page 6. A discussion of each fund and its relative performance begins on page 10.

Maintaining a long-term perspective

We will surely look back on 2020 as a challenging year that disrupted public health and financial markets worldwide. While the economic outlook is still uncertain, we have seen progress since the pandemic’s initial shock last spring. Financial markets have stabilized somewhat, and most have performed well off of their March 2020 lows. Though it’s difficult to predict what lies ahead, we believe investors would be well advised to take a step back, try to maintain a long-term perspective and stick with their financial plans as they strive to achieve their financial goals.

A diversified portfolio that includes professionally managed fixed-income mutual funds may be a prudent way to help long-term investors navigate the inevitable ups and downs of markets in the years ahead. (Diversification cannot guarantee against market losses.)

If you need assistance or have any questions about your TIAA-CREF fixed-income portfolio, we encourage you to reach out to your financial advisor or call a TIAA financial consultant at 800-842-2252. You may also reach us at TIAA.org. As always, we stand ready to help.

/s/ Brad Finkle
Brad Finkle

Chief Operating Officer, Nuveen
President of the TIAA-CREF Funds and TIAA-CREF Life Funds

TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 5

Market monitor

Bond markets advanced while economy struggled with COVID-19

Fixed-income markets generated gains for the six months—a period during which the global economy was staggered by COVID-19 and efforts to fight the virus. The U.S. economy contracted as emergency measures severely restricted business operations and limited travel. The unemployment rate soared early in the period but steadily receded in later months. Interest rates remained at historically low levels. The Federal Reserve, which had made two deep short-term interest-rate cuts in March 2020, maintained those levels throughout the period. Policymakers indicated near-zero rates would remain in place until specific signs of economic recovery had been observed. Investment-grade fixed-rate bonds, as represented by the Bloomberg Barclays U.S. Aggregate Bond Index, gained 3.5% for the six months.

In this environment of historically low interest rates, high-yield securities appealed to investors willing to take on additional risk for potentially greater yields. U.S. high-yield bonds, as represented by the ICE BofA BB-B U.S. Cash Pay High Yield Constrained Index, returned 14.2% for the period. The Bloomberg Barclays U.S. Treasury Inflation Protected Securities (TIPS) 1–10 Year Index gained 6.4%. Municipal bonds, as measured by the Bloomberg Barclays 10-Year Municipal Bond Index, advanced 4.2%, while the Bloomberg Barclays U.S. 1–3 Year Government/Credit Bond Index returned 1.4%.

High yield outperformed as all bond sectors advanced

Performance for the six months ended September 30, 2020

Source: U.S. investment grade: Bloomberg Barclays U.S. Aggregate Bond Index; Short term: Bloomberg Barclays U.S. 1–3 Year Government/Credit Index; Municipals: Bloomberg Barclays 10-Year Municipal Bond Index; Inflation protected: Bloomberg Barclays U.S. TIPS 1-10 Years Index; Corporate high yield: ICE BofA BB-B U.S. Cash Pay High Yield Constrained Index. As of September 30, 2020.

Economy hit hard, then showed signs of recovery

Real gross domestic product (GDP), which measures the value of all goods and services produced in the United States, declined by an annualized rate of 31.4% during the second quarter of 2020. Nearly all forms of business and economic activities were temporarily restricted as state and local governments responded to the health crisis. Federal government spending was one of the economy’s rare growth sectors during the quarter.

The unemployment rate vaulted to 14.7% in April but declined in every subsequent month of the period, reaching 7.9% in September. Core inflation, which includes all items except food and energy, rose 1.7% for the twelve months ended September 2020. The price of West Texas Intermediate crude oil, which had fallen sharply before the period began, rebounded from $20 per barrel on April 1, 2020, to $40 by September 30, 2020. The U.S. dollar lost ground against other major currencies during the period.

The broad U.S. stock market, as measured by the Russell 3000^® Index, staged a powerful recovery from steep earlier setbacks and gained 33.3% for the period. Yields on U.S. Treasury securities of most maturities remained within a narrow range over the six months.

Fed held rates steady, bought bonds to support markets

Over the period, the Fed left short-term interest rates unchanged and indicated it would maintain a highly accommodative monetary policy until the economy showed clear signs of recovery. The federal funds target rate, a key short-term interest-rate measure, remained at 0.00%–0.25% throughout the period. The Fed said in September it did not expect to increase the rate before it saw evidence of a stronger labor market and inflation that was trending “moderately” above its previous 2.0% target for “some time.” Among 17 policymakers who provided interest-rate projections, all believed that short-term rates would remain unchanged through 2021, and 13 anticipated no change through 2023. During the period, the Fed also supported credit markets with programs to purchase U.S. Treasuries, mortgage-backed securities and corporate debt.

The European Central Bank left interest rates unchanged during the period. In June, the ECB increased a bond-buying stimulus program launched three months earlier to provide additional emergency support. The Bank of England maintained its benchmark interest rate at 0.10% during the period. It also increased its bond-buying program in June 2020.

6 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

Information for investors

Portfolio holdings

Securities and Exchange Commission (SEC) rules allow investment companies to list the top holdings of each fund in their annual and semiannual reports instead of providing complete portfolio listings. The TIAA-CREF Funds also file complete portfolio listings with the SEC, and they are available to the public.

You can obtain a complete list of the TIAA-CREF Funds’ holdings (Schedules of Investments) as of the most recently completed fiscal quarter in the following ways:

● By visiting our website at TIAA.org; or

● By calling us at 800-842-2252 to request a copy, which will be provided free of charge.

You can also obtain a complete list of the TIAA-CREF Funds’ portfolio holdings as of the most recently completed fiscal quarter, and for prior quarter-ends, from our SEC Form N-CSR and Form N-PORT or Form N-MFP (for money market products only) filings. Form N-CSR filings are as of March 31 or September 30; Form N-PORT or Form N-MFP filings are as of December 31 or June 30. Copies of these forms are available:

● Through the Electronic Data Gathering and Retrieval System (EDGAR) on the SEC’s website at sec.gov; or

● From the SEC’s Office of Investor Education and Advocacy. Call 202-551-8090 for more information.

Proxy voting

In certain market conditions, the investment portfolio of a fixed-income fund may include shares of common or preferred stock. If that should occur, TIAA-CREF Funds’ ownership of stock would give it the right to vote on proxy issues of companies in which it invests. A description of our proxy voting policies and procedures can be found on our website at TIAA.org or on the SEC’s website at sec.gov. You can also call us at 800-842-2252 to request a free copy. A report of how the funds voted during the most recently completed twelve-month period ended June 30 can be found on our website or on Form N-PX at sec.gov.

Contacting TIAA

There are three easy ways to contact us: by email, using the Contact Us link at the top of our home page; by mail at TIAA, 730 Third Avenue, New York, NY 10017-3206; or by phone at 800-842-2252.

Fund management

The TIAA-CREF Funds are managed by the portfolio management teams of Teachers Advisors, LLC. The members of these teams are responsible for the day-to-day investment management of the funds.

TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 7

About the funds’ benchmarks

The Bloomberg Barclays U.S. Aggregate Bond Index measures the performance of the domestic investment-grade fixed-rate bond market, including government and corporate securities, agency mortgage pass-through securities, asset-backed securities and commercial mortgage-backed securities.

The Bloomberg Barclays U.S. 1–3 Year Government/Credit Bond Index measures the performance of U.S. Treasury and agency securities and corporate bonds with 1- to 3-year maturities.

The ICE BofA BB-B U.S. Cash Pay High Yield Constrained Index measures the performance of bond securities that pay interest in cash and have a credit rating of BB or B. ICE BofA uses a composite of Fitch Ratings, Moody’s and Standard & Poor’s credit ratings in selecting bonds for this index. These ratings measure the risk that the bond issuer will fail to pay interest or to repay principal in full. The index is market weighted, so that larger bond issues have a greater effect on the index’s return. However, the representation of any single bond issuer is restricted to a maximum of 2% of the total index.

The Bloomberg Barclays 10-Year Municipal Bond Index measures the performance of intermediate- and longer-term tax-exempt bonds. Bonds in the index must be rated investment grade (Baa3/BBB- or higher), have an outstanding par value of at least $7 million and be issued as part of a transaction of at least $75 million.

The Bloomberg Barclays U.S. Treasury Inflation Protected Securities (TIPS) 1–10 Year Index measures the performance of fixed-income securities with maturities between 1 and 10 years that are adjusted for inflation, as measured by the Consumer Price Index for All Urban Consumers (CPI-U).

The Bloomberg Barclays MSCI U.S. Green Bond Index measures the performance of the U.S. market for fixed-income securities issued to fund projects with direct environmental benefits.

You cannot invest directly in any index. Index returns do not include a deduction for fees or expenses. For additional details about the benchmark indexes, please read the funds’ latest prospectus.

Source: Bloomberg Index Services Limited. BLOOMBERG^® is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively, “Bloomberg”). BARCLAYS^® is a trademark and service mark of Barclays Bank Plc (collectively with its affiliates, “Barclays”), used under license. Bloomberg or Bloomberg’s licensors, including Barclays, own all proprietary rights in the Bloomberg Barclays Indices. Neither Bloomberg nor Barclays approves or endorses this material, or guarantees the accuracy or completeness of any information herein, or makes any warranty, express or implied, as to the results to be obtained therefrom and, to the maximum extent allowed by law, neither shall have any liability or responsibility for injury or damages arising in connection therewith.

Source: ICE Data Indices, LLC (“ICE DATA”), is used with permission. ICE DATA, ITS AFFILIATES AND THEIR RESPECTIVE THIRD PARTY SUPPLIERS DISCLAIM ANY AND ALL WARRANTIES AND REPRESENTATIONS, EXPRESS AND/OR IMPLIED, INCLUDING ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE, INCLUDING THE INDICES, INDEX DATA AND ANY DATA INCLUDED IN, RELATED TO, OR DERIVED THEREFROM. NEITHER ICE DATA, ITS AFFILIATES NOR THEIR RESPECTIVE THIRD PARTY PROVIDERS SHALL BE SUBJECT TO ANY DAMAGES OR LIABILITY WITH RESPECT TO THE ADEQUACY, ACCURACY, TIMELINESS OR COMPLETENESS OF THE INDICES OR THE INDEX DATA OR ANY COMPONENT THEREOF, AND THE INDICES AND INDEX DATA AND ALL COMPONENTS THEREOF ARE PROVIDED ON AN “AS IS” BASIS AND YOUR USE IS AT YOUR OWN RISK. ICE DATA, ITS AFFILIATES AND THEIR RESPECTIVE THIRD PARTY SUPPLIERS DO NOT SPONSOR, ENDORSE, OR RECOMMEND TIAA-CREF FUNDS, OR ANY OF ITS PRODUCTS OR SERVICES.

8 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

Important information about expenses

All shareholders of the TIAA-CREF Funds incur ongoing costs, including management fees and other fund expenses. They may also incur transactional costs for redemptions or account maintenance fees.

The expense examples that appear in this report are intended to help you understand your ongoing costs only (in U.S. dollars) and do not reflect transactional costs. The examples are designed to help you compare these ongoing costs with the ongoing costs of investing in other mutual funds.

The expenses shown do not include account maintenance fees, which may or may not be applicable, as described in the prospectus. If such fees were included, your total costs for investing in the funds would be higher. Note also that shareholders of the TIAA-CREF Funds do not incur a sales charge for purchases, reinvested dividends or other distributions.

The examples are based on an investment of $1,000 invested at the beginning of the six-month period and held for the entire period (April 1, 2020–September 30, 2020).

Actual expenses

The first section in each table uses the Fund’s actual expenses and its actual rate of return. You may use the information in this section, together with the amount you invested, to estimate the expenses that you paid over the six-month period.

Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading “Expenses paid during period” to estimate the expenses you paid during the six-month period. Some funds have a contractual fee reimbursement. Had these not been in effect, fund expenses would have been higher.

Hypothetical example for comparison purposes

The second section in each table shows hypothetical account values and expenses based on the Fund’s actual expense ratio for each share class for the six-month period and an assumed 5%-per-year rate of return before expenses. This was not the share class’ actual return.

This hypothetical example cannot be used to estimate the actual expenses you paid for the period, but rather allows you to compare the ongoing costs of investing in the Fund with the costs of other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of other mutual funds.

TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 9

Bond Index Fund

Expense example

Six months ended September 30, 2020

Bond Index Fund	Beginning account value (4/1/20)	Ending account value (9/30/20)	Expenses paid during period* (4/1/20– 9/30/20)
Actual return
Institutional Class	$1,000.00	$1,033.33	$0.56
Advisor Class	1,000.00	1,032.77	1.12
Premier Class	1,000.00	1,033.46	1.33
Retirement Class	1,000.00	1,032.04	1.83
Retail Class	1,000.00	1,032.62	2.14
Class W	1,000.00	1,033.87	0.00
5% annual hypothetical return
Institutional Class	1,000.00	1,024.52	0.56
Advisor Class	1,000.00	1,023.97	1.12
Premier Class	1,000.00	1,023.76	1.32
Retirement Class	1,000.00	1,023.26	1.83
Retail Class	1,000.00	1,022.96	2.13
Class W	1,000.00	1,025.07	0.00

* “Expenses paid during period” is based on the Fund’s actual expense ratio for the most recent fiscal half-year, multiplied by the average account value over the six-month period, multiplied by 183/365. There were 183 days in the six months ended September 30, 2020. The Fund’s annualized six-month expense ratios for that period were 0.11% for the Institutional Class, 0.22% for the Advisor Class, 0.26% for the Premier Class, 0.36% for the Retirement Class, 0.42% for the Retail Class and 0.00% for Class W. The expense charges of one or more of the Fund’s share classes may reflect a waiver and/or reimbursement. Please see the prospectus for an explanation, including the date on which this reimbursement is scheduled to end. Without such waiver and/or reimbursement, the expenses of the affected share classes would be higher and their performance lower.

For more information about this expense example, please see page 9.

Portfolio composition

Sector	% of net assets as of 9/30/2020
U.S. Treasury securities	36.5
Mortgage-backed securities	26.8
Corporate bonds	22.9
Foreign government & corporate bonds denominated in U.S. dollars	8.3
Commercial mortgage-backed securities	2.0
U.S. agency securities	1.4
Municipal bonds	0.9
Asset-backed securities	0.7
Short-term investments, other assets & liabilities, net	0.5
Total	100.0

Performance for the six months ended September 30, 2020

The Bond Index Fund returned 3.33% for the Institutional Class, compared with the 3.53% return of its benchmark, the Bloomberg Barclays U.S. Aggregate Bond Index. For the one-year period ended September 30, 2020, the Fund returned 6.79%, versus 6.98% for the index. The performance table shows returns for all share classes of the Fund.

Jolted by COVID-19, economy showed signs of improvement later in the period

The U.S. economy contracted sharply during the period, absorbing the impact of global measures to limit the spread of the COVID-19 pandemic. Real gross domestic product decreased by an annualized rate of 31.4% in the second quarter of 2020. As containment efforts restricted commercial operations, retail business and travel, the unemployment rate spiked to 14.7% in April 2020. However, the rate steadily declined through the rest of the period, falling to 7.9% by September. Core inflation, which measures all items except food and energy, rose 1.7% over the twelve months ended September 2020. Crude oil prices climbed from $20 to $40 per barrel during the six-month period.

The Federal Reserve left historically low interest rates in place during the period, maintaining the federal funds target rate at 0.00%–0.25%. In September, policymakers indicated they will keep the key short-term interest-rate measure at this level as long as the unemployment rate remains elevated and inflation stays below 2.0%.

All major segments of the fixed-income market produced gains for the period. The Bloomberg Barclays U.S. Aggregate Bond Index, a broad measure of the U.S. investment-grade fixed-rate bond market, advanced. High-yield bonds performed best, followed by U.S. Treasury inflation-protected securities (TIPS) and municipal bonds. Shorter-term bonds recorded the smallest advance.

Corporate bonds led benchmark’s performance, Treasuries underperformed

All of the sectors within the Bloomberg Barclays U.S. Aggregate Bond Index posted positive returns for the six months. Corporate bonds—the second-largest sector in the index at 26.8%—had the strongest performance, with a return of 10.7%. U.S. Treasuries, the largest sector at period-end at 37.8%, returned just 0.6%. Mortgage-backed securities (MBS), the third-largest sector in the index with a weighting of 26.0%, also had a small gain of 0.8%. Smaller sectors, including commercial mortgage-backed securities, government credit securities and government agency securities, also delivered solid gains, returning 5.7%, 5.5% and 2.7%, respectively.

Fund trailed its benchmark

The Fund underperformed its benchmark for the six-month period. The Fund’s return includes a deduction for expenses, while the benchmark’s does not. The Fund seeks to maintain the overall characteristics of its benchmark. The Fund’s managers invest in the same sectors that are included in the benchmark and closely match the benchmark’s weightings and maturities. During the period, this portfolio had sector returns that were similar to its benchmark, enabling it to resemble the index’s performance.

Throughout the period, the Fund’s managers kept the Fund’s duration—a measure of its sensitivity to interest-rate changes—close to that of its benchmark. This strategy helped the Fund’s risk and reward characteristics to more closely resemble those of its benchmark.

10 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

Performance as of September 30, 2020

Bond Index Fund		Total return						Average annual total return						Annual operating expenses*
	Inception date	6 months			1 year			5 years			10 years			gross			net
Institutional Class	9/14/09		3.33	%		6.79	%		4.01	%		3.47	%		0.11	%		0.11	%
Advisor Class	12/4/15		3.28			6.68			3.91	†		3.42	†		0.22			0.22
Premier Class	9/30/09		3.35			6.63			3.85			3.33			0.27			0.27
Retirement Class	9/14/09		3.20			6.43			3.75			3.21			0.37			0.37
Retail Class	9/14/09		3.26			6.45			3.69			3.14			0.43			0.43
Class W	9/28/18		3.39			6.91			4.05	†		3.49	†		0.11			0.00
Bloomberg Barclays U.S. Aggregate Bond Index	—		3.53			6.98			4.18			3.64			—			—

The returns in this report show past performance, which is no guarantee of future results. The returns do not reflect taxes that a shareholder would pay on fund distributions or on the sale of fund shares. Returns and the principal value of your investment will fluctuate. Current performance may be higher or lower than that shown, and you may have a gain or a loss when you redeem your shares. For current performance and 30-day SEC yield information, including performance to the most recent month-end, please visit TIAA.org. Performance may reflect waivers or reimbursements of certain expenses. Absent these waivers or reimbursement arrangements, performance would be lower.

You cannot invest directly in any index. Index returns do not include a deduction for fees or expenses.

*

The gross and net annual operating expenses are taken from the Fund’s prospectus. The net annual operating expenses may at times reflect a contractual reimbursement of various expenses. The expense reimbursement will continue through at least July 31, 2021, unless changed with the approval of the Board of Trustees. Without these reimbursements, expenses would be higher and returns lower.

†

The performance shown for the Advisor Class and Class W that is prior to their respective inception dates is based on the performance of the Institutional Class. The performance for these periods has not been restated to reflect the actual expenses of the Advisor Class and Class W. If these actual expenses had been reflected, the performance of these two classes shown for these periods would have been different because the Advisor Class and Class W have different expenses than the Institutional Class.

Holdings by maturity

% of fixed-income investments (excluding short-term investments) as of 9/30/2020
Less than 1 year	1.3
1–3 years	26.7
3–5 years	32.6
5–10 years	19.5
Over 10 years	19.9
Total	100.0

Holdings by credit quality

% of fixed-income investments (excluding short-term investments) as of 9/30/2020
U.S. Treasury & U.S. agency securities*	64.8
Aaa/AAA	4.8
Aa/AA	3.6
A/A	12.2
Baa/BBB	14.6
Total	100.0

* These securities are guaranteed by the full faith and credit of the U.S. government.

Credit quality ratings are based on the Bloomberg Barclays methodology, which uses the median rating of those compiled by the Moody’s, Standard & Poor’s and Fitch ratings agencies. If ratings are available from only two of these agencies, the lower rating is used. When only one rating is available, that one is used. These ratings are subject to change without notice.

Fund profile

	as of 9/30/2020
Net assets	$17.50 billion
Portfolio turnover rate*	20%
Number of issues	7,597
Option-adjusted duration‡	6.14 years
Average maturity§	8.15 years

*	The portfolio turnover rate covers the six-month period from April 1, 2020–September 30, 2020, and is not annualized.
‡	Option-adjusted duration estimates how much the value of a bond portfolio would be affected by a change in prevailing interest rates, taking into account the options embedded in the individual securities. The longer a portfolio’s duration, the more sensitive it is to changes in interest rates.
§	Average maturity is a simple average of the maturities of all the bonds in a fund’s portfolio. The maturity of a bond is the amount of time until the bond’s principal becomes due or payable.

TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 11

Core Bond Fund

Expense example

Six months ended September 30, 2020

Core Bond Fund	Beginning account value (4/1/20)	Ending account value (9/30/20)	Expenses paid during period* (4/1/20– 9/30/20)
Actual return
Institutional Class	$1,000.00	$1,070.10	$1.50
Advisor Class	1,000.00	1,069.32	2.18
Premier Class	1,000.00	1,069.24	2.28
Retirement Class	1,000.00	1,068.63	2.80
Retail Class	1,000.00	1,067.52	3.01
Class W	1,000.00	1,071.63	0.00
5% annual hypothetical return
Institutional Class	1,000.00	1,023.61	1.47
Advisor Class	1,000.00	1,022.96	2.13
Premier Class	1,000.00	1,022.86	2.23
Retirement Class	1,000.00	1,022.36	2.74
Retail Class	1,000.00	1,022.16	2.94
Class W	1,000.00	1,025.07	0.00

* “Expenses paid during period” is based on the Fund’s actual expense ratio for the most recent fiscal half-year, multiplied by the average account value over the six-month period, multiplied by 183/365. There were 183 days in the six months ended September 30, 2020. The Fund’s annualized six-month expense ratios for that period were 0.29% for the Institutional Class, 0.42% for the Advisor Class, 0.44% for the Premier Class, 0.54% for the Retirement Class, 0.58% for the Retail Class and 0.00% for Class W. The expense charges of one or more of the Fund’s share classes may reflect a waiver and/or reimbursement. Please see the prospectus for an explanation, including the date on which this reimbursement is scheduled to end. Without such waiver and/or reimbursement, the expenses of the affected share classes would be higher and their performance lower.

For more information about this expense example, please see page 9.

Portfolio composition

Sector	% of net assets as of 9/30/2020
Corporate bonds	33.8
Mortgage-backed securities	23.1
Foreign government & corporate bonds denominated in U.S. dollars	12.9
U.S. Treasury securities	7.8
Commercial mortgage-backed securities	7.1
Asset-backed securities	6.1
Municipal bonds	3.7
Bank loan obligations	1.8
U.S. agency securities	0.3
Short-term investments, other assets & liabilities, net	3.4
Total	100.0

Performance for the six months ended September 30, 2020

The Core Bond Fund (formerly the Bond Fund) returned 7.01% for the Institutional Class, compared with the 3.53% return of its benchmark, the Bloomberg Barclays U.S. Aggregate Bond Index. For the one-year period ended September 30, 2020, the Fund returned 6.28%, versus 6.98% for the index. The performance table shows returns for all share classes of the Fund.

Jolted by COVID-19, economy showed signs of improvement later in the period

The U.S. economy contracted sharply during the period, absorbing the impact of global measures to limit the spread of the COVID-19 pandemic. Real gross domestic product decreased by an annualized rate of 31.4% in the second quarter of 2020. As containment efforts restricted commercial operations, retail business and travel, the unemployment rate spiked to 14.7% in April 2020. However, the rate steadily declined through the rest of the period, falling to 7.9% by September. Core inflation, which measures all items except food and energy, rose 1.7% over the twelve months ended September 2020. Crude oil prices, which fell steeply in the early stages of the pandemic, climbed from $20 to $40 per barrel during the six-month period.

The Federal Reserve left historically low interest rates in place during the period, maintaining the federal funds target rate at 0.00%–0.25%. In September, policymakers indicated they will keep the key short-term interest-rate measure at this level as long as the unemployment rate remains elevated and inflation stays below 2.0%.

All major segments of the fixed-income market produced gains for the period. The Bloomberg Barclays U.S. Aggregate Bond Index, a broad measure of the U.S. investment-grade fixed-rate bond market, advanced. High-yield bonds performed best, with double-digit returns, followed by U.S. Treasury inflation-protected securities (TIPS) and municipal bonds. Shorter-term bonds recorded the smallest advance.

Corporate bonds led benchmark’s performance, Treasuries underperformed

All of the sectors within the Bloomberg Barclays U.S. Aggregate Bond Index posted positive returns for the six months. Corporate bonds—the second-largest sector in the index at 26.8%—had the strongest performance, with a return of 10.7%. U.S. Treasuries, which was the largest sector at period-end, making up 37.8% of the index, returned just 0.6%. Treasuries rallied early in the period but were overshadowed by higher-yielding sectors (especially corporates) in the ensuing months. Mortgage-backed securities (MBS), the third-largest sector in the index with a weighting of 26.0%, also had a small gain of 0.8%. Smaller sectors, including commercial mortgage-backed securities (CMBS), government credit securities and government agency securities, also delivered solid gains, returning 5.7%, 5.5% and 2.7%, respectively.

Fund surpassed its benchmark

The Fund outperformed its benchmark by a solid margin for the six-month period, primarily due to a significant overweight position in the strong-performing corporate bond sector. The Fund’s overweight positions in asset-backed securities and CMBS made the next-largest contributions, respectively, followed by an underweight in MBS.

Yield curve positioning within U.S. Treasuries—how the Fund was invested across different maturities in this sector—detracted most from relative performance.

12 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

Performance as of September 30, 2020

Core Bond Fund								Average annual						Annual operating
		Total return						total return						expenses*
	Inception
	date	6 months			1 year			5 years			10 years			gross			net
Institutional Class	7/1/99		7.01	%		6.28	%		4.58	%		4.15	%		0.30	%		0.30	%
Advisor Class	12/4/15		6.93			6.23			4.51	†		4.11	†		0.43			0.43
Premier Class	9/30/09		6.92			6.22			4.43			3.99			0.45			0.45
Retirement Class	3/31/06		6.86			6.14			4.33			3.89			0.55			0.55
Retail Class	3/31/06		6.75			6.01			4.27			3.84			0.59			0.59
Class W	9/28/18		7.16			6.59			4.70	†		4.21	†		0.30			0.00
Bloomberg Barclays U.S. Aggregate Bond Index	—		3.53			6.98			4.18			3.64			—			—

The returns in this report show past performance, which is no guarantee of future results. The returns do not reflect taxes that a shareholder would pay on fund distributions or on the sale of fund shares. Returns and the principal value of your investment will fluctuate. Current performance may be higher or lower than that shown, and you may have a gain or a loss when you redeem your shares. For current performance and 30-day SEC yield information, including performance to the most recent month-end, please visit TIAA.org. Performance may reflect waivers or reimbursements of certain expenses. Absent these waivers or reimbursement arrangements, performance would be lower.

You cannot invest directly in any index. Index returns do not include a deduction for fees or expenses.

*

The gross and net annual operating expenses are taken from the Fund’s prospectus. The net annual operating expenses may at times reflect a contractual reimbursement of various expenses. The expense reimbursement will continue through at least July 31, 2021, unless changed with the approval of the Board of Trustees. Without these reimbursements, expenses would be higher and returns lower.

†

The performance shown for the Advisor Class and Class W that is prior to their respective inception dates is based on the performance of the Institutional Class. The performance for these periods has not been restated to reflect the actual expenses of the Advisor Class and Class W. If these actual expenses had been reflected, the performance of these two classes shown for these periods would have been different because the Advisor Class and Class W have different expenses than the Institutional Class.

Holdings by maturity
% of fixed-income investments
(excluding short-term investments)
as of 9/30/2020
Less than 1 year	2.3
1–3 years	19.0
3–5 years	27.0
5–10 years	34.5
Over 10 years	17.2
Total	100.0

Holdings by credit quality
% of fixed-income investments
(excluding short-term investments)
as of 9/30/2020
U.S. Treasury & U.S. agency securities*	31.3
Aaa/AAA	8.4
Aa/AA	7.2
A/A	17.6
Baa/BBB	27.1
Ba/BB	3.7
B/B	2.6
Below B/B	0.4
Non-rated	1.7
Total	100.0

* These securities are guaranteed by the full faith and credit of the U.S. government.

Credit quality ratings are based on the Bloomberg Barclays methodology, which uses the median rating of those compiled by the Moody’s, Standard & Poor’s and Fitch ratings agencies. If ratings are available from only two of these agencies, the lower rating is used. When only one rating is available, that one is used. These ratings are subject to change without notice.

Fund profile

	as of 9/30/2020
Net assets	$7.59 billion
Portfolio turnover rate*	94%
Portfolio turnover rate, excluding mortgage dollar-roll transactions*	53%
Number of issues	1,961
Option-adjusted duration‡	5.92 years
Average maturity§	7.87 years

*	The portfolio turnover rate covers the six-month period from April 1, 2020–September 30, 2020, and is not annualized.
‡	Option-adjusted duration estimates how much the value of a bond portfolio would be affected by a change in prevailing interest rates, taking into account the options embedded in the individual securities. The longer a portfolio’s duration, the more sensitive it is to changes in interest rates.
§	Average maturity is a simple average of the maturities of all the bonds in a fund’s portfolio. The maturity of a bond is the amount of time until the bond’s principal becomes due or payable.

TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 13

Core Impact Bond Fund

Expense example
Six months ended September 30, 2020
			Expenses
			paid
	Beginning	Ending	during
	account	account	period*
Core Impact Bond Fund	value (4/1/20)	value (9/30/20)	(4/1/20– 9/30/20)
Actual return
Institutional Class	$1,000.00	$1,067.98	$1.81
Advisor Class	1,000.00	1,066.53	2.23
Premier Class	1,000.00	1,066.10	2.64
Retirement Class	1,000.00	1,066.66	3.11
Retail Class	1,000.00	1,066.65	3.16
5% annual hypothetical return
Institutional Class	1,000.00	1,023.31	1.78
Advisor Class	1,000.00	1,022.91	2.18
Premier Class	1,000.00	1,022.51	2.59
Retirement Class	1,000.00	1,022.06	3.04
Retail Class	1,000.00	1,022.01	3.09

* “Expenses paid during period” is based on the Fund’s actual expense ratio for the most recent fiscal half-year, multiplied by the average account value over the six-month period, multiplied by 183/365. There were 183 days in the six months ended September 30, 2020. The Fund’s annualized six-month expense ratios for that period were 0.35% for the Institutional Class, 0.43% for the Advisor Class, 0.51% for the Premier Class, 0.60% for the Retirement Class and 0.61% for the Retail Class. The expense charges of one or more of the Fund’s share classes may reflect a waiver and/or reimbursement. Please see the prospectus for an explanation, including the date on which this reimbursement is scheduled to end. Without such waiver and/or reimbursement, the expenses of the affected share classes would be higher and their performance lower.

For more information about this expense example, please see page 9.

Portfolio composition

% of net assets
Sector	as of 9/30/2020
Corporate bonds	28.4
Mortgage-backed securities	22.9
Foreign government & corporate bonds denominated in U.S. dollars	18.7
U.S. Treasury securities	8.9
Municipal bonds	7.4
Commercial mortgage-backed securities	4.6
U.S. agency securities	3.9
Asset-backed securities	3.3
Bank loan obligations	0.1
Preferred stock	0.7
Short-term investments, other assets & liabilities, net	1.1
Total	100.0

Performance for the six months ended September 30, 2020

The Core Impact Bond Fund (formerly the Social Choice Bond Fund) returned 6.80% for the Institutional Class, compared with the 3.53% return of its benchmark, the Bloomberg Barclays U.S. Aggregate Bond Index. For the one-year period ended September 30, 2020, the Fund returned 6.03%, versus 6.98% for the index. The Fund utilizes certain environmental, social and governance criteria, while the benchmark does not. The performance table shows returns for all share classes of the Fund.

Jolted by COVID-19, economy showed signs of improvement later in the period

The U.S. economy contracted sharply during the period, absorbing the impact of global measures to limit the spread of the COVID-19 pandemic. Real gross domestic product decreased by an annualized rate of 31.4% in the second quarter of 2020. As containment efforts restricted commercial operations, retail business and travel, the unemployment rate spiked to 14.7% in April 2020. However, the rate steadily declined through the rest of the period, falling to 7.9% by September. Core inflation, which measures all items except food and energy, rose 1.7% over the twelve months ended September 2020. Crude oil prices, which fell steeply in the early stages of the pandemic, climbed from $20 to $40 per barrel during the six-month period.

The Federal Reserve left historically low interest rates in place during the period, maintaining the federal funds target rate at 0.00%–0.25%. In September, policymakers indicated they will keep the key short-term interest-rate measure at this level as long as the unemployment rate remains elevated and inflation stays below 2.0%.

All major segments of the fixed-income market produced gains for the period. The Bloomberg Barclays U.S. Aggregate Bond Index, a broad measure of the U.S. investment-grade fixed-rate bond market, advanced. High-yield bonds performed best, with double-digit returns, followed by U.S. Treasury inflation-protected securities (TIPS) and municipal bonds. Shorter-term bonds recorded the smallest advance.

Corporate bonds led benchmark’s performance, Treasuries underperformed

All of the sectors within the Bloomberg Barclays U.S. Aggregate Bond Index posted positive returns for the six months. Corporate bonds—the second-largest sector in the index at 26.8%—had the best performance with a return of 10.7%. U.S. Treasuries, the largest sector at period-end at 37.8% of the index, returned just 0.6%. Mortgage-backed securities, the third-largest sector comprising 26.0% of the index, trailed the benchmark’s return with a gain of 0.8%. Commercial mortgage-backed securities (CMBS), government credit securities and government agency securities also delivered solid gains, returning 5.7%, 5.5% and 2.7%, respectively.

Fund substantially outpaced its benchmark

The Fund outperformed its benchmark for the period, primarily due to an overweight position in the strong-performing corporate bond sector. Fund positions in the CMBS, asset-backed securities and municipal bond sectors were the next-largest contributors. An overweight position in the government agency sector was also beneficial.

Yield curve positioning within U.S. Treasuries—how the Fund was invested across different maturities in this sector—detracted most from relative performance.

14 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

Performance as of September 30, 2020

Core Impact Bond Fund								Average annual						Annual operating
		Total return						total return						expenses*
	Inception										since
	date	6 months			1 year			5 years			inception			gross			net
Institutional Class	9/21/12		6.80	%		6.03	%		4.38	%		4.02	%		0.36	%		0.36	%
Advisor Class	12/4/15		6.65			5.83			4.28	†		3.96	†		0.46			0.46
Premier Class	9/21/12		6.61			5.75			4.21			3.86			0.53			0.53
Retirement Class	9/21/12		6.67			5.66			4.12			3.76			0.61			0.61
Retail Class	9/21/12		6.66			5.65			4.10			3.71			0.64			0.64
Bloomberg Barclays U.S. Aggregate Bond Index	—		3.53			6.98			4.18			3.28	‡		—			—

The returns in this report show past performance, which is no guarantee of future results. The returns do not reflect taxes that a shareholder would pay on fund distributions or on the sale of fund shares. Returns and the principal value of your investment will fluctuate. Current performance may be higher or lower than that shown, and you may have a gain or a loss when you redeem your shares. For current performance and 30-day SEC yield information, including performance to the most recent month-end, please visit TIAA.org. Performance may reflect waivers or reimbursements of certain expenses. Absent these waivers or reimbursement arrangements, performance would be lower.

You cannot invest directly in any index. Index returns do not include a deduction for fees or expenses.

*	The gross and net annual operating expenses are taken from the Fund’s prospectus. The net annual operating expenses may at times reflect a contractual reimbursement of various expenses. The expense reimbursement will continue through at least July 31, 2021, unless changed with the approval of the Board of Trustees. Without these reimbursements, expenses would be higher and returns lower.
†	The performance shown for the Advisor Class that is prior to its inception date is based on the performance of the Institutional Class. The performance for these periods has not been restated to reflect the actual expenses of the Advisor Class. If these actual expenses had been reflected, the performance of the Advisor Class shown for these periods would have been different because the Advisor Class has different expenses than the Institutional Class.
‡	Performance is calculated from the inception date of the Institutional Class.

Holdings by maturity
% of fixed-income investments
(excluding short-term investments)
as of 9/30/2020
Less than 1 year	2.7
1–3 years	22.8
3–5 years	23.7
5–10 years	29.3
Over 10 years	21.5
Total	100.0

Holdings by credit quality
% of fixed-income investments
(excluding short-term investments)
as of 9/30/2020
U.S. Treasury & U.S. agency securities*	35.6
Aaa/AAA	8.4
Aa/AA	11.0
A/A	19.1
Baa/BBB	18.4
Ba/BB	3.8
B/B	0.3
Non-rated	3.4
Total	100.0

* These securities are guaranteed by the full faith and credit of the U.S. government.

Credit quality ratings are based on the Bloomberg Barclays methodology, which uses the median rating of those compiled by the Moody’s, Standard & Poor’s and Fitch ratings agencies. If ratings are available from only two of these agencies, the lower rating is used. When only one rating is available, that one is used. These ratings are subject to change without notice.

Fund profile

	as of 9/30/2020
Net assets	$5.80 billion
Portfolio turnover rate*	149%
Portfolio turnover rate, excluding mortgage dollar-roll transactions*	116%
Number of issues	977
Option-adjusted duration‡	6.28 years
Average maturity§	8.91 years

*	The portfolio turnover rate covers the six-month period from April 1, 2020–September 30, 2020, and is not annualized.
‡	Option-adjusted duration estimates how much the value of a bond portfolio would be affected by a change in prevailing interest rates, taking into account the options embedded in the individual securities. The longer a portfolio’s duration, the more sensitive it is to changes in interest rates.
§	Average maturity is a simple average of the maturities of all the bonds in a fund’s portfolio. The maturity of a bond is the amount of time until the bond’s principal becomes due or payable.

TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 15

Core Plus Bond Fund

Expense example
Six months ended September 30, 2020
			Expenses
			paid
	Beginning	Ending	during
	account	account	period*
Core Plus	value	value	(4/1/20–
Bond Fund	(4/1/20)	(9/30/20)	9/30/20)
Actual return
Institutional Class	$1,000.00	$1,079.64	$1.51
Advisor Class	1,000.00	1,079.18	1.93
Premier Class	1,000.00	1,078.83	2.29
Retirement Class	1,000.00	1,077.20	2.81
Retail Class	1,000.00	1,077.84	3.13
Class W	1,000.00	1,081.21	0.00
5% annual hypothetical return
Institutional Class	1,000.00	1,023.61	1.47
Advisor Class	1,000.00	1,023.21	1.88
Premier Class	1,000.00	1,022.86	2.23
Retirement Class	1,000.00	1,022.36	2.74
Retail Class	1,000.00	1,022.06	3.04
Class W	1,000.00	1,025.07	0.00

* “Expenses paid during period” is based on the Fund’s actual expense ratio for the most recent fiscal half-year, multiplied by the average account value over the six-month period, multiplied by 183/365. There were 183 days in the six months ended September 30, 2020. The Fund’s annualized six-month expense ratios for that period were 0.29% for the Institutional Class, 0.37% for the Advisor Class, 0.44% for the Premier Class, 0.54% for the Retirement Class, 0.60% for the Retail Class and 0.00% for Class W. The expense charges of one or more of the Fund’s share classes may reflect a waiver and/or reimbursement. Please see the prospectus for an explanation, including the date on which this reimbursement is scheduled to end. Without such waiver and/or reimbursement, the expenses of the affected share classes would be higher and their performance lower.

For more information about this expense example, please see page 9.

Portfolio composition

% of net assets
Sector	as of 9/30/2020
Corporate bonds	32.8
Mortgage-backed securities	24.1
Foreign government & corporate bonds denominated in U.S. dollars	13.7
Commercial mortgage-backed securities	7.9
Asset-backed securities	6.5
U.S. Treasury securities	4.8
Municipal bonds	4.5
Bank loan obligations	2.0
Preferred stock	0.2
Short-term investments, other assets & liabilities, net	3.5
Total	100.0

Performance for the six months ended September 30, 2020

The Core Plus Bond Fund (formerly the Bond Plus Fund) returned 7.96% for the Institutional Class, compared with the 3.53% return of its benchmark, the Bloomberg Barclays U.S. Aggregate Bond Index. For the one-year period ended September 30, 2020, the Fund returned 5.92%, versus 6.98% for the index. The performance table shows returns for all share classes of the Fund.

Jolted by COVID-19, economy showed signs of improvement later in the period

The U.S. economy contracted sharply during the period, absorbing the impact of global measures to limit the spread of the COVID-19 pandemic. Real gross domestic product decreased by an annualized rate of 31.4% in the second quarter of 2020. As containment efforts restricted commercial operations, retail business and travel, the unemployment rate spiked to 14.7% in April 2020. However, the rate steadily declined through the rest of the period, falling to 7.9% by September. Core inflation, which measures all items except food and energy, rose 1.7% over the twelve months ended September 2020. Crude oil prices, which fell steeply in the early stages of the pandemic, climbed from $20 to $40 per barrel during the six-month period.

The Federal Reserve left historically low interest rates in place during the period, maintaining the federal funds target rate at 0.00%–0.25%. In September, policymakers indicated they will keep the key short-term interest-rate measure at this level as long as the unemployment rate remains elevated and inflation stays below 2.0%.

All major segments of the fixed-income market produced gains for the period. The Bloomberg Barclays U.S. Aggregate Bond Index, a broad measure of the U.S. investment-grade fixed-rate bond market, advanced. High-yield bonds performed best, with double-digit returns, followed by U.S. Treasury inflation-protected securities (TIPS) and municipal bonds. Shorter-term bonds recorded the smallest advance.

Corporate bonds led benchmark’s performance, Treasuries underperformed

All of the sectors within the Bloomberg Barclays U.S. Aggregate Bond Index posted positive returns for the six months. Corporate bonds—the second-largest sector in the index at 26.8%—had the strongest performance, with a return of 10.7%. U.S. Treasuries, which was the largest sector at period-end, making up 37.8% of the index, returned just 0.6%. Treasuries rallied early in the period but were overshadowed by higher-yielding sectors (especially corporates) in the ensuing months. Mortgage-backed securities (MBS), the third-largest sector in the index with a weighting of 26.0%, also had a small gain of 0.8%. Smaller sectors, including commercial mortgage-backed securities (CMBS), government credit securities and government agency securities, also delivered solid gains, returning 5.7%, 5.5% and 2.7%, respectively.

Fund strongly outperformed its benchmark

For the six-month period, the Fund’s return was more than double that of its benchmark, primarily due to a significant overweight position in the strong-performing corporate bond sector. The Fund’s overweight positions in asset-backed securities and CMBS made the next-largest contributions, respectively, followed by an underweight in MBS.

Yield curve positioning within U.S. Treasuries—how the Fund was invested across different maturities in this sector—detracted most from relative performance.

16 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

Performance as of September 30, 2020

Core Plus Bond Fund								Average annual						Annual operating
		Total return						total return						expenses*
	Inception
	date	6 months			1 year			5 years			10 years			gross			net
Institutional Class	3/31/06		7.96	%		5.92	%		4.66	%		4.36	%		0.30	%		0.30	%
Advisor Class	12/4/15		7.92			5.94			4.61	†		4.34	†		0.38			0.38
Premier Class	9/30/09		7.88			5.86			4.53			4.21			0.45			0.45
Retirement Class	3/31/06		7.72			5.66			4.40			4.10			0.55			0.55
Retail Class	3/31/06		7.78			5.59			4.33			4.04			0.61			0.61
Class W	9/28/18		8.12			6.24			4.78	†		4.42	†		0.30			0.00
Bloomberg Barclays U.S. Aggregate Bond Index	—		3.53			6.98			4.18			3.64			—			—

The returns in this report show past performance, which is no guarantee of future results. The returns do not reflect taxes that a shareholder would pay on fund distributions or on the sale of fund shares. Returns and the principal value of your investment will fluctuate. Current performance may be higher or lower than that shown, and you may have a gain or a loss when you redeem your shares. For current performance and 30-day SEC yield information, including performance to the most recent month-end, please visit TIAA.org. Performance may reflect waivers or reimbursements of certain expenses. Absent these waivers or reimbursement arrangements, performance would be lower.

You cannot invest directly in any index. Index returns do not include a deduction for fees or expenses.

*

The gross and net annual operating expenses are taken from the Fund’s prospectus. The net annual operating expenses may at times reflect a contractual reimbursement of various expenses. The expense reimbursement will continue through at least July 31, 2021, unless changed with the approval of the Board of Trustees. Without these reimbursements, expenses would be higher and returns lower.

†

The performance shown for the Advisor Class and Class W that is prior to their respective inception dates is based on the performance of the Institutional Class. The performance for these periods has not been restated to reflect the actual expenses of the Advisor Class and Class W. If these actual expenses had been reflected, the performance of these two classes shown for these periods would have been different because the Advisor Class and Class W have different expenses than the Institutional Class.

Holdings by maturity
% of fixed-income investments
(excluding short-term investments)
as of 9/30/2020
Less than 1 year	3.3
1–3 years	17.6
3–5 years	30.7
5–10 years	32.0
Over 10 years	16.4
Total	100.0

Holdings by credit quality
% of fixed-income investments
(excluding short-term investments)
as of 9/30/2020
U.S. Treasury & U.S. agency securities*	28.4
Aaa/AAA	6.1
Aa/AA	6.8
A/A	16.4
Baa/BBB	25.3
Ba/BB	8.4
B/B	4.9
Below B/B	0.9
Non-rated	2.8
Total	100.0

* These securities are guaranteed by the full faith and credit of the U.S. government.

Credit quality ratings are based on the Bloomberg Barclays methodology, which uses the median rating of those compiled by the Moody’s, Standard & Poor’s and Fitch ratings agencies. If ratings are available from only two of these agencies, the lower rating is used. When only one rating is available, that one is used. These ratings are subject to change without notice.

Fund profile

	as of 9/30/2020
Net assets	$5.30 billion
Portfolio turnover rate*	60%
Portfolio turnover rate, excluding mortgage dollar-roll transactions*	30%
Number of issues	1,874
Option-adjusted duration‡	5.55 years
Average maturity§	7.58 years

*	The portfolio turnover rate covers the six-month period from April 1, 2020–September 30, 2020, and is not annualized.
‡	Option-adjusted duration estimates how much the value of a bond portfolio would be affected by a change in prevailing interest rates, taking into account the options embedded in the individual securities. The longer a portfolio’s duration, the more sensitive it is to changes in interest rates.
§	Average maturity is a simple average of the maturities of all the bonds in a fund’s portfolio. The maturity of a bond is the amount of time until the bond’s principal becomes due or payable.

TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 17

5–15 Year Laddered Tax-Exempt Bond Fund

Expense example
Six months ended September 30, 2020
			Expenses
			paid
5–15 Year	Beginning	Ending	during
Laddered	account	account	period*
Tax-Exempt	value	value	(4/1/20–
Bond Fund	(4/1/20)	(9/30/20)	9/30/20)
Actual return
Institutional Class	$1,000.00	$1,044.06	$1.54
Advisor Class	1,000.00	1,042.65	1.95
Retail Class	1,000.00	1,042.59	2.97
5% annual hypothetical return
Institutional Class	1,000.00	1,023.56	1.52
Advisor Class	1,000.00	1,023.16	1.93
Retail Class	1,000.00	1,022.16	2.94

* “Expenses paid during period” is based on the Fund’s actual expense ratio for the most recent fiscal half-year, multiplied by the average account value over the six-month period, multiplied by 183/365. There were 183 days in the six months ended September 30, 2020. The Fund’s annualized six-month expense ratios for that period were 0.30% for the Institutional Class, 0.38% for the Advisor Class and 0.58% for the Retail Class. The expense charges of one or more of the Fund’s share classes may reflect a waiver and/or reimbursement. Please see the prospectus for an explanation, including the date on which this reimbursement is scheduled to end. Without such waiver and/or reimbursement, the expenses of the affected share classes would be higher and their performance lower.

For more information about this expense example, please see page 9.

Portfolio composition

Sector	% of net assets as of 9/30/2020
Municipal bonds	97.0
Short-term investments,
other assets & liabilities, net	3.0
Total	100.0

Performance for the six months ended September 30, 2020

The 5–15 Year Laddered Tax-Exempt Bond Fund returned 4.41% for the Institutional Class, compared with the 4.19% return of its benchmark, the Bloomberg Barclays 10-Year Municipal Bond Index. For the one-year period ended September 30, 2020, the Fund returned 2.66%, versus 4.59% for the index. The performance table shows returns for all the share classes of the Fund.

Jolted by COVID-19, economy showed signs of improvement later in the period

The U.S. economy contracted sharply during the period, absorbing the impact of global measures to limit the spread of the COVID-19 pandemic. Real gross domestic product decreased by an annualized rate of 31.4% in the second quarter of 2020. As containment efforts restricted commercial operations, retail business and travel, the unemployment rate spiked to 14.7% in April 2020. However, the rate steadily declined through the rest of the period, falling to 7.9% by September. Core inflation, which measures all items except food and energy, rose 1.7% over the twelve months ended September 2020. Crude oil prices, which fell steeply in the early stages of the pandemic, climbed from $20 to $40 per barrel during the six-month period.

The Federal Reserve left historically low interest rates in place during the period, maintaining the federal funds target rate at 0.00%–0.25%. In September, policymakers indicated they will keep the key short-term interest-rate measure at this level as long as the unemployment rate remains elevated and inflation stays below 2.0%.

All major segments of the fixed-income market produced gains for the period. The Bloomberg Barclays U.S. Aggregate Bond Index, a broad measure of the U.S. investment-grade fixed-rate bond market, advanced. High-yield bonds performed best, with double-digit returns, followed by U.S. Treasury inflation-protected securities (TIPS) and municipal bonds. Shorter-term bonds recorded the smallest advance.

All sectors in the benchmark advanced

All of the sectors in the Bloomberg Barclays 10-Year Municipal Bond Index generated gains for the six-month period. The industrial revenue sector produced the strongest return with an advance of 6.1%. The leasing sector was the next-best performer with a gain of 5.5%, followed by the health care sector’s return of 4.6%. State general obligations (GOs), the index’s largest sector by market capitalization at period-end, gained 4.1%. Local GOs, the second-largest sector, also returned 4.1%, as did transportation, the index’s third-largest component.

On September 30, 2020, higher-rated 10-year AAA municipal bonds yielded 0.83%, compared with a 0.69% yield on the 10-year U.S. Treasury bond. New municipal issuance during the six-month period was $248 billion, up from $240 billion for the prior six months, from November 1, 2019, through March 31, 2020.

Fund outpaced its benchmark

For the six-month period, the Fund outperformed its benchmark, primarily due to positions in the transportation sector. Fund holdings in the industrial revenue, leasing and local GO sectors also contributed to its relative performance. Conversely, Fund positions in the state GO category detracted most, followed by holdings in the water and sewer and special tax sectors.

18 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

Performance as of September 30, 2020

5–15 Year Laddered Tax- Exempt Bond Fund		Total return						Average annual total return						Annual operating expenses*
	Inception date	6 months			1 year			5 years			10 years			gross			net
Institutional Class	3/31/06		4.41	%		2.66	%		3.37	%		3.29	%		0.33	%		0.30	%
Advisor Class	12/4/15		4.27			2.48			3.31	†		3.26	†		0.43			0.40
Retail Class	3/31/06		4.26			2.37			3.09			3.01			0.61			0.58
Bloomberg Barclays 10-Year Municipal Bond Index	—		4.19			4.59			4.01			4.22			—			—

The returns in this report show past performance, which is no guarantee of future results. The returns do not reflect taxes that a shareholder would pay on fund distributions or on the sale of fund shares. Returns and the principal value of your investment will fluctuate. Current performance may be higher or lower than that shown, and you may have a gain or a loss when you redeem your shares. For current performance and 30-day SEC yield information, including performance to the most recent month-end, please visit TIAA.org. Performance may reflect waivers or reimbursements of certain expenses. Absent these waivers or reimbursement arrangements, performance would be lower.

You cannot invest directly in any index. Index returns do not include a deduction for fees or expenses.

*

The gross and net annual operating expenses are taken from the Fund’s prospectus. The net annual operating expenses may at times reflect a contractual reimbursement of various expenses. The expense reimbursement will continue through at least July 31, 2021, unless changed with the approval of the Board of Trustees. Without these reimbursements, expenses would be higher and returns lower.

†

The performance shown for the Advisor Class that is prior to its inception date is based on the performance of the Institutional Class. The performance for these periods has not been restated to reflect the actual expenses of the Advisor Class. If these actual expenses had been reflected, the performance of the Advisor Class shown for these periods would have been different because the Advisor Class has different expenses than the Institutional Class.

Holdings by maturity

% of fixed-income investments (excluding short-term investments) as of 9/30/2020
Less than 1 year	0.6
1–3 years	2.4
3–5 years	9.6
5–10 years	45.9
Over 10 years	41.5
Total	100.0

Holdings by credit quality

% of fixed-income investments (excluding short-term investments) as of 9/30/2020
Aaa/AAA	0.9
Aa/AA	20.7
A/A	50.2
Baa/BBB	20.0
Ba/BB	3.4
B/B	0.8
Non-rated	4.0
Total	100.0

Credit quality ratings are based on the Bloomberg Barclays methodology, which uses the median rating of those compiled by the Moody’s, Standard & Poor’s and Fitch ratings agencies. If ratings are available from only two of these agencies, the lower rating is used. When only one rating is available, that one is used. These ratings are subject to change without notice.

Fund profile

	as of 9/30/2020
Net assets	$278.50 million
Portfolio turnover rate*	12%
Number of issues	233
Option-adjusted duration‡	5.85 years
Average maturity§	9.46 years

*	The portfolio turnover rate covers the six-month period from April 1, 2020–September 30, 2020, and is not annualized.
‡	Option-adjusted duration estimates how much the value of a bond portfolio would be affected by a change in prevailing interest rates, taking into account the options embedded in the individual securities. The longer a portfolio’s duration, the more sensitive it is to changes in interest rates.
§	Average maturity is a simple average of the maturities of all the bonds in a fund’s portfolio. The maturity of a bond is the amount of time until the bond’s principal becomes due or payable.

TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 19

Green Bond Fund

Expense example

Six months ended September 30, 2020

			Expenses
			paid
	Beginning	Ending	during
	account	account	period*
	value	value	(4/1/20–
Green Bond Fund	(4/1/20)	(9/30/20)	9/30/20)
Actual return
Institutional Class	$1,000.00	$1,091.78	$2.36
Advisor Class	1,000.00	1,091.74	2.41
Premier Class	1,000.00	1,091.24	2.88
Retirement Class	1,000.00	1,091.23	2.88
Retail Class	1,000.00	1,090.29	3.83
5% annual hypothetical return
Institutional Class	1,000.00	1,022.81	2.28
Advisor Class	1,000.00	1,022.76	2.33
Premier Class	1,000.00	1,022.31	2.79
Retirement Class	1,000.00	1,022.31	2.79
Retail Class	1,000.00	1,021.41	3.70

* “Expenses paid during period” is based on the Fund’s actual expense ratio for the most recent fiscal half-year, multiplied by the average account value over the six-month period, multiplied by 183/365. There were 183 days in the six months ended September 30, 2020. The Fund’s annualized six-month expense ratios for that period were 0.45% for the Institutional Class, 0.46% for the Advisor Class, 0.55% for the Premier Class, 0.55% for the Retirement Class and 0.73% for the Retail Class. The expense charges of one or more of the Fund’s share classes may reflect a waiver and/or reimbursement. Please see the prospectus for an explanation, including the date on which this reimbursement is scheduled to end. Without such waiver and/or reimbursement, the expenses of the affected share classes would be higher and their performance lower.

For more information about this expense example, please see page 9.

Portfolio composition

Sector	% of net assets as of 9/30/2020
Corporate bonds		32.3
Foreign government & corporate bonds denominated in U.S. dollars		25.6
Municipal bonds		12.8
Asset-backed securities		10.9
Commercial mortgage-backed securities		7.4
U.S. agency securities		3.8
Bank loan obligations		1.0
Preferred stock		3.1
Short-term investments, other assets & liabilities, net		3.1
Total		100.0

Performance for the six months ended September 30, 2020

The Green Bond Fund returned 9.18% for the Institutional Class, compared with the 6.13% return of its benchmark, the Bloomberg Barclays MSCI U.S. Green Bond Index. For the one-year period ended September 30, 2020, the Fund returned 6.64%, versus 7.43% for the index. The performance table shows returns for all share classes of the Fund.

Jolted by COVID-19, economy showed signs of improvement later in the period

The U.S. economy contracted sharply during the period, absorbing the impact of global measures to limit the spread of the COVID-19 pandemic. Real gross domestic product decreased by an annualized rate of 31.4% in the second quarter of 2020. As containment efforts restricted commercial operations, retail business and travel, the unemployment rate spiked to 14.7% in April 2020. However, the rate steadily declined through the rest of the period, falling to 7.9% by September. Core inflation, which measures all items except food and energy, rose 1.7% over the twelve months ended September 2020. Crude oil prices, which fell steeply in the early stages of the pandemic, climbed from $20 to $40 per barrel during the six-month period.

The Federal Reserve left historically low interest rates in place during the period, maintaining the federal funds target rate at 0.00%–0.25%. In September, policymakers indicated they will keep the key short-term interest-rate measure at this level as long as the unemployment rate remains elevated and inflation stays below 2.0%.

All major segments of the fixed-income market produced gains for the period. The Bloomberg Barclays U.S. Aggregate Bond Index, a broad measure of the U.S. investment-grade fixed-rate bond market, advanced. High-yield bonds performed best, with double-digit returns, followed by U.S. Treasury inflation-protected securities (TIPS) and municipal bonds. Shorter-term bonds recorded the smallest advance.

Corporate bond sector drove the benchmark’s performance

All of the sectors within the Bloomberg Barclays MSCI U.S. Green Bond Index posted positive returns for the six months. Corporate bonds, the largest sector in the index with a weighting of 52.7% at period-end, had the highest return at 9.1%. Despite struggling earlier in the period in the wake of the COVID-19 pandemic, corporate bonds rebounded sharply, helped by support from the Fed. Government credit securities, the index’s second-largest sector with a weighting of 29.1%, gained 3.3%. Government agency bonds, the benchmark’s third-largest sector at 16.6%, advanced 2.8%. Commercial mortgage-backed securities (CMBS), which represented just 0.5% of the index, returned 4.1%.

Fund advanced and surpassed its benchmark

The Fund posted strong gains and significantly surpassed its benchmark for the six-month period. The Fund’s out-of-benchmark holdings in asset-backed securities and municipal bonds, along with an overweight position in CMBS, contributed most to its relative performance versus the index. The Fund’s holdings in the strong-performing corporate bond sector were also beneficial.

By contrast, the Fund’s holdings of government credit and government agency securities held back its relative performance for the period.

20 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

Performance as of September 30, 2020

Green Bond Fund		Total return						Average annual total return			Annual operating expenses*
	Inception							since
	date	6 months			1 year			inception			gross			net
Institutional Class	11/16/18		9.18	%		6.64	%		9.09	%		1.21	%		0.45	%
Advisor Class	11/16/18		9.17			6.63			9.06			1.31			0.55
Premier Class	11/16/18		9.12			6.51			8.95			1.37			0.60
Retirement Class	11/16/18		9.12			6.50			8.93			1.47			0.70
Retail Class	11/16/18		9.03			6.35			8.81			1.59			0.80
Bloomberg Barclays MSCI U.S. Green Bond Index	—		6.13			7.43			10.03	‡		—			—

The returns in this report show past performance, which is no guarantee of future results. The returns do not reflect taxes that a shareholder would pay on fund distributions or on the sale of fund shares. Returns and the principal value of your investment will fluctuate. Current performance may be higher or lower than that shown, and you may have a gain or a loss when you redeem your shares. For current performance and 30-day SEC yield information, including performance to the most recent month-end, please visit TIAA.org. Performance may reflect waivers or reimbursements of certain expenses. Absent these waivers or reimbursement arrangements, performance would be lower.

You cannot invest directly in any index. Index returns do not include a deduction for fees or expenses.

*	The gross and net annual operating expenses are taken from the Fund’s prospectus. The net annual operating expenses may at times reflect a contractual reimbursement of various expenses. The expense reimbursement will continue through at least July 31, 2021, unless changed with the approval of the Board of Trustees. Without these reimbursements, expenses would be higher and returns lower.
‡	Performance is calculated from the inception date of the Institutional Class.

Holdings by maturity

% of fixed-income investments (excluding short-term investments) as of 9/30/2020
Less than 1 year	2.5
1–3 years	17.5
3–5 years	20.4
5–10 years	35.1
Over 10 years	24.5
Total	100.0

Holdings by credit quality

% of fixed-income investments (excluding short-term investments) as of 9/30/2020
U.S. Treasury & U.S. agency securities*	3.9
Aaa/AAA	15.8
Aa/AA	14.7
A/A	28.8
Baa/BBB	15.5
Ba/BB	8.7
B/B	0.5
Non-rated	12.1
Total	100.0

* These securities are guaranteed by the full faith and credit of the U.S. government.

Credit quality ratings are based on the Bloomberg Barclays methodology, which uses the median rating of those compiled by the Moody’s, Standard & Poor’s and Fitch ratings agencies. If ratings are available from only two of these agencies, the lower rating is used. When only one rating is available, that one is used. These ratings are subject to change without notice.

Fund profile

	as of 9/30/2020
Net assets	$42.32 million
Portfolio turnover rate*	22%
Number of issues	127
Option-adjusted duration‡	6.43 years
Average maturity§	9.53 years

*	The portfolio turnover rate covers the six-month period from April 1, 2020–September 30, 2020, and is not annualized.
‡	Option-adjusted duration estimates how much the value of a bond portfolio would be affected by a change in prevailing interest rates, taking into account the options embedded in the individual securities. The longer a portfolio’s duration, the more sensitive it is to changes in interest rates.
§	Average maturity is a simple average of the maturities of all the bonds in a fund’s portfolio. The maturity of a bond is the amount of time until the bond’s principal becomes due or payable.

TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 21

High-Yield Fund

Expense example

Six months ended September 30, 2020

			Expenses
			paid
	Beginning	Ending	during
	account	account	period*
	value	value	(4/1/20–
High-Yield Fund	(4/1/20)	(9/30/20)	9/30/20)
Actual return
Institutional Class	$1,000.00	$1,131.13	$1.82
Advisor Class	1,000.00	1,130.72	2.30
Premier Class	1,000.00	1,130.17	2.62
Retirement Class	1,000.00	1,129.74	3.15
Retail Class	1,000.00	1,130.34	3.36
Class W	1,000.00	1,133.04	0.00
5% annual hypothetical return
Institutional Class	1,000.00	1,023.36	1.72
Advisor Class	1,000.00	1,022.91	2.18
Premier Class	1,000.00	1,022.61	2.48
Retirement Class	1,000.00	1,022.11	2.99
Retail Class	1,000.00	1,021.91	3.19
Class W	1,000.00	1,025.07	0.00

* “Expenses paid during period” is based on the Fund’s actual expense ratio for the most recent fiscal half-year, multiplied by the average account value over the six-month period, multiplied by 183/365. There were 183 days in the six months ended September 30, 2020. The Fund’s annualized six-month expense ratios for that period were 0.34% for the Institutional Class, 0.43% for the Advisor Class, 0.49% for the Premier Class, 0.59% for the Retirement Class, 0.63% for the Retail Class and 0.00% for Class W. The expense charges of one or more of the Fund’s share classes may reflect a waiver and/or reimbursement. Please see the prospectus for an explanation, including the date on which this reimbursement is scheduled to end. Without such waiver and/or reimbursement, the expenses of the affected share classes would be higher and their performance lower.

For more information about this expense example, please see page 9.

Portfolio composition

Sector	% of net assets as of 9/30/2020
Corporate bonds	79.5
Foreign government & corporate bonds denominated in U.S. dollars	10.2
Bank loan obligations	5.8
Common stocks & rights	0.1
Short-term investments, other assets & liabilities, net	4.4
Total	100.0

Performance for the six months ended September 30, 2020

The High-Yield Fund returned 13.11% for the Institutional Class, compared with the 14.17% return of its benchmark, the ICE BofA BB-B U.S. Cash Pay High Yield Constrained Index. For the one-year period ended September 30, 2020, the Fund returned 0.13%, versus 3.21% for the index. The performance table shows returns for all share classes of the Fund.

Jolted by COVID-19, economy showed signs of improvement later in the period

The U.S. economy contracted sharply during the period, absorbing the impact of global measures to limit the spread of COVID-19. As containment efforts restricted business and travel, the unemployment rate spiked to 14.7% in April 2020 but then declined, falling to 7.9% by September. Core inflation, which measures all items except food and energy, rose 1.7% over the twelve months ended September 2020. Crude oil prices, which fell steeply in the early stages of the pandemic, climbed from $20 to $40 per barrel. The movement of oil prices can be influential due to the large representation of energy companies in the high-yield sector.

The Federal Reserve left historically low interest rates in place during the period, maintaining the federal funds target rate at 0.00%–0.25%. In September, policymakers indicated they will keep the key short-term interest-rate measure at this level as long as the unemployment rate remains elevated and inflation stays below 2.0%.

For the six-month period, high-yield bonds surpassed the 3.53% return of the broad U.S. investment-grade fixed-rate bond market, as measured by the Bloomberg Barclays U.S. Aggregate Bond Index.

Most sectors posted gains

For the six months, most high-yield bond sectors posted strong gains. Energy exploration & production, the benchmark’s largest sector on September 30, 2020, was the best performer, advancing 50.5%. The worst performer was air transportation, returning –6.5%.

High-yield bonds posted positive results across all credit quality tiers for the six months as investors gravitated toward riskier asset classes. Lower-quality bonds (those rated “CCC” and below) performed best at 19.1%. Bonds rated “B” and “BB” both returned 14.3%. New high-yield debt issuance totaled nearly $264 billion for the six months, up substantially from the $131 billion for the same period in 2019, as volumes were particularly sizable in June and August. The U.S. issuer-weighted speculative grade default rate rose to 8.5% on September 30, 2020, from 3.4% (revised from 3.2%) a year earlier, according to Moody’s Investors Service.

Fund trailed its benchmark

For the six-month period, the Fund advanced but trailed its benchmark as certain investment decisions did not perform as anticipated. An underweight allocation to the energy exploration & production sector detracted most, as it benefited from a rise in oil prices. The next-largest detractors were an overweight position in media company CCO Holdings, an out-of-benchmark allocation to entertainment firm CDS US Intermediate and an overweight position in energy company Transocean Guardian.

On the positive side, the Fund was helped by overweight positions in energy companies USA Compression Partners and Range Resources as these investments benefited from higher oil prices during the period. An out-of-benchmark position in auto parts maker IHO Verwaltungs also contributed.

22 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

Performance as of September 30, 2020

High-Yield Fund		Total return						Average annual total return						Annual operating expenses*
	Inception date	6 months			1 year			5 years			10 years			gross			net
Institutional Class	3/31/06		13.11	%		0.13	%		5.79	%		5.81	%		0.36	%		0.36	%
Advisor Class	12/4/15		13.07			–0.08			5.67	†		5.75	†		0.47			0.47
Premier Class	9/30/09		13.02			–0.11			5.63			5.66			0.51			0.51
Retirement Class	3/31/06		12.97			–0.22			5.51			5.55			0.61			0.61
Retail Class	3/31/06		13.03			–0.23			5.50			5.53			0.64			0.64
Class W	9/28/18		13.30			0.48			5.93	†		5.88	†		0.36			0.00
ICE BofA BB-B U.S. Cash Pay High Yield Constrained Index	—		14.17			3.21			6.61			6.29			—			—

The returns in this report show past performance, which is no guarantee of future results. The returns do not reflect taxes that a shareholder would pay on fund distributions or on the sale of fund shares. Returns and the principal value of your investment will fluctuate. Current performance may be higher or lower than that shown, and you may have a gain or a loss when you redeem your shares. For current performance and 30-day SEC yield information, including performance to the most recent month-end, please visit TIAA.org. Performance may reflect waivers or reimbursements of certain expenses. Absent these waivers or reimbursement arrangements, performance would be lower.

You cannot invest directly in any index. Index returns do not include a deduction for fees or expenses.

*

The gross and net annual operating expenses are taken from the Fund’s prospectus. The net annual operating expenses may at times reflect a contractual reimbursement of various expenses. The expense reimbursement will continue through at least July 31, 2021, unless changed with the approval of the Board of Trustees. Without these reimbursements, expenses would be higher and returns lower.

†

The performance shown for the Advisor Class and Class W that is prior to their respective inception dates is based on the performance of the Institutional Class. The performance for these periods has not been restated to reflect the actual expenses of the Advisor Class and Class W. If these actual expenses had been reflected, the performance of these two classes shown for these periods would have been different because the Advisor Class and Class W have different expenses than the Institutional Class.

Holdings by maturity

% of fixed-income investments (excluding short-term investments) as of 9/30/2020
Less than 1 year	0.4
1–3 years	8.1
3–5 years	29.7
5–10 years	54.6
Over 10 years	7.2
Total	100.0

Holdings by credit quality

% of fixed-income investments (excluding short-term investments) as of 9/30/2020
Baa/BBB	2.8
Ba/BB	47.8
B/B	40.9
Below B/B	5.9
Non-rated	2.6
Total	100.0

Credit quality ratings are based on the ICE BofA Index composite ratings methodology, which is a simple average of ratings from Moody’s, Standard & Poor’s and Fitch. If only two of the designated agencies rate a bond, the composite rating is based on an average of the two. Likewise, if only one of the designated agencies rates a bond, the composite rating is based on that one rating.

Fund profile

	as of 9/30/2020
Net assets	$3.73 billion
Portfolio turnover rate*	39%
Number of issues	476
Option-adjusted duration‡	3.79 years
Average maturity§	6.06 years

*	The portfolio turnover rate covers the six-month period from April 1, 2020–September 30, 2020, and is not annualized.
‡	Option-adjusted duration estimates how much the value of a bond portfolio would be affected by a change in prevailing interest rates, taking into account the options embedded in the individual securities. The longer a portfolio’s duration, the more sensitive it is to changes in interest rates.
§	Average maturity is a simple average of the maturities of all the bonds in a fund’s portfolio. The maturity of a bond is the amount of time until the bond’s principal becomes due or payable.

TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 23

Inflation-Linked Bond Fund

Expense example

Six months ended September 30, 2020

			Expenses
			paid
	Beginning	Ending	during
	account	account	period*
Inflation-Linked	value	value	(4/1/20–
Bond Fund	(4/1/20)	(9/30/20)	9/30/20)
Actual return
Institutional Class	$1,000.00	$1,060.25	$1.19
Advisor Class	1,000.00	1,059.71	1.65
Premier Class	1,000.00	1,059.61	1.96
Retirement Class	1,000.00	1,059.32	2.48
Retail Class	1,000.00	1,058.32	2.84
Class W	1,000.00	1,061.44	0.00
5% annual hypothetical return
Institutional Class	1,000.00	1,023.92	1.17
Advisor Class	1,000.00	1,023.46	1.62
Premier Class	1,000.00	1,023.16	1.93
Retirement Class	1,000.00	1,022.66	2.43
Retail Class	1,000.00	1,022.31	2.79
Class W	1,000.00	1,025.07	0.00

* “Expenses paid during period” is based on the Fund’s actual expense ratio for the most recent fiscal half-year, multiplied by the average account value over the six-month period, multiplied by 183/365. There were 183 days in the six months ended September 30, 2020. The Fund’s annualized six-month expense ratios for that period were 0.23% for the Institutional Class, 0.32% for the Advisor Class, 0.38% for the Premier Class, 0.48% for the Retirement Class, 0.55% for the Retail Class and 0.00% for Class W. The expense charges of one or more of the Fund’s share classes may reflect a waiver and/or reimbursement. Please see the prospectus for an explanation, including the date on which this reimbursement is scheduled to end. Without such waiver and/or reimbursement, the expenses of the affected share classes would be higher and their performance lower.

For more information about this expense example, please see page 9.

Portfolio composition

Sector	% of net assets as of 9/30/2020
U.S. Treasury securities	95.3
Mortgage-backed securities	2.9
U.S. agency securities	1.1
Foreign government & corporate bonds denominated in U.S. dollars	0.1
Short-term investments, other assets & liabilities, net	0.6
Total	100.0

Performance for the six months ended September 30, 2020

The Inflation-Linked Bond Fund returned 6.03% for the Institutional Class, compared with the 6.36% return of its benchmark, the Bloomberg Barclays U.S. Treasury Inflation Protected Securities (TIPS) 1–10 Year Index. For the one-year period ended September 30, 2020, the Fund returned 7.40%, versus 7.75% for the index. The performance table shows returns for all share classes of the Fund.

Jolted by COVID-19, economy showed signs of improvement later in the period

The U.S. economy contracted sharply during the period, absorbing the impact of global measures to limit the spread of the COVID-19 pandemic. Real gross domestic product decreased by an annualized rate of 31.4% in the second quarter of 2020. As containment efforts restricted commercial operations, retail business and travel, the unemployment rate spiked to 14.7% in April 2020. However, the rate steadily declined through the rest of the period, falling to 7.9% by September. Core inflation, which measures all items except food and energy, rose 1.7% over the twelve months ended September 2020. Crude oil prices, which fell steeply in the early stages of the pandemic, climbed from $20 to $40 per barrel during the six-month period.

The Federal Reserve left historically low interest rates in place during the period, maintaining the federal funds target rate at 0.00%–0.25%. In September, policymakers indicated they will keep the key short-term interest-rate measure at this level as long as the unemployment rate remains elevated and inflation stays below 2.0%.

All major segments of the fixed-income market produced gains for the period. The Bloomberg Barclays U.S. Aggregate Bond Index, a broad measure of the U.S. investment-grade fixed-rate bond market, advanced. High-yield bonds performed best, with double-digit returns, followed by U.S. Treasury inflation-protected securities (TIPS) and municipal bonds. Shorter-term bonds recorded the smallest advance.

Inflation-protected bonds, as measured by the TIPS 1–10 Year index, posted strong results for the period and outperformed the Bloomberg Barclays U.S. Aggregate Bond Index.

Fund trailed its benchmark

While the Fund posted gains for the six-month period, its return trailed that of its benchmark, primarily due to the effect of expenses. The Fund was slightly underweighted in U.S. Treasuries, which detracted somewhat from its relative performance versus the benchmark. On the positive side, the Fund’s out-of-benchmark position in the mortgage-backed securities sector helped its performance relative to the benchmark.

During the period, the Fund’s portfolio managers aligned the Fund’s duration—a measure of the Fund’s sensitivity to interest-rate changes—close to that of the TIPS 1–10 Year index. This investment strategy helped the Fund’s risk and reward characteristics to remain in line with those of its benchmark.

24 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

Performance as of September 30, 2020

Inflation-Linked Bond Fund								Average annual						Annual operating
		Total return						total return						expenses*
	Inception
	date	6 months			1 year			5 years			10 years			gross			net
Institutional Class	10/1/02		6.03	%		7.40	%		3.40	%		2.85	%		0.26	%		0.26	%
Advisor Class	12/4/15		5.97			7.39			3.33	†		2.81	†		0.34			0.34
Premier Class	9/30/09		5.96			7.25			3.25			2.68			0.41			0.41
Retirement Class	3/31/06		5.93			7.25			3.15			2.59			0.51			0.51
Retail Class	10/1/02		5.83			7.07			3.08			2.54			0.57			0.57
Class W	9/28/18		6.14			7.64			3.50	†		2.90	†		0.26			0.00
Bloomberg Barclays U.S. Treasury Inflation Protected Securities (TIPS) 1–10 Year Index	—		6.36			7.75			3.66			2.72			—			—

The returns in this report show past performance, which is no guarantee of future results. The returns do not reflect taxes that a shareholder would pay on fund distributions or on the sale of fund shares. Returns and the principal value of your investment will fluctuate. Current performance may be higher or lower than that shown, and you may have a gain or a loss when you redeem your shares. For current performance and 30-day SEC yield information, including performance to the most recent month-end, please visit TIAA.org. Performance may reflect waivers or reimbursements of certain expenses. Absent these waivers or reimbursement arrangements, performance would be lower.

You cannot invest directly in any index. Index returns do not include a deduction for fees or expenses.

*

The gross and net annual operating expenses are taken from the Fund’s prospectus. The net annual operating expenses may at times reflect a contractual reimbursement of various expenses. The expense reimbursement will continue through at least July 31, 2021, unless changed with the approval of the Board of Trustees. Without these reimbursements, expenses would be higher and returns lower.

†

The performance shown for the Advisor Class and Class W that is prior to their respective inception dates is based on the performance of the Institutional Class. The performance for these periods has not been restated to reflect the actual expenses of the Advisor Class and Class W. If these actual expenses had been reflected, the performance of these two classes shown for these periods would have been different because the Advisor Class and Class W have different expenses than the Institutional Class.

Holdings by maturity
% of fixed-income investments
(excluding short-term investments)
as of 9/30/2020
Less than 1 year	0.5
1–3 years	24.2
3–5 years	27.1
5–10 years	46.1
Over 10 years	2.1
Total	100.0
Holdings by credit quality
% of fixed-income investments
(excluding short-term investments)
as of 9/30/2020
U.S. Treasury & U.S. agency securities*	99.5
Aa/AA	0.2
Non-rated	0.3
Total	100.0

* These securities are guaranteed by the full faith and credit of the U.S. government.

Credit quality ratings are based on the Bloomberg Barclays methodology, which uses the median rating of those compiled by the Moody’s, Standard & Poor’s and Fitch ratings agencies. If ratings are available from only two of these agencies, the lower rating is used. When only one rating is available, that one is used. These ratings are subject to change without notice.

Fund profile

	as of 9/30/2020
Net assets	$3.36 billion
Portfolio turnover rate*	11%
Number of issues	49
Option-adjusted duration‡	4.97 years
Average maturity§	5.18 years

*	The portfolio turnover rate covers the six-month period from April 1, 2020–September 30, 2020, and is not annualized.
‡	Option-adjusted duration estimates how much the value of a bond portfolio would be affected by a change in prevailing interest rates, taking into account the options embedded in the individual securities. The longer a portfolio’s duration, the more sensitive it is to changes in interest rates.
§	Average maturity is a simple average of the maturities of all the bonds in a fund’s portfolio. The maturity of a bond is the amount of time until the bond’s principal becomes due or payable.

TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 25

Short Duration Impact Bond Fund

Expense example

Six months ended September 30, 2020

Short Duration Impact Bond Fund	Beginning account value (4/1/20)	Ending account value (9/30/20)	Expenses paid during period* (4/1/20– 9/30/20)
Actual return
Institutional Class	$1,000.00	$1,058.41	$1.81
Advisor Class	1,000.00	1,058.40	1.81
Premier Class	1,000.00	1,057.62	2.58
Retirement Class	1,000.00	1,057.10	3.09
Retail Class	1,000.00	1,057.10	3.09
5% annual hypothetical return
Institutional Class	1,000.00	1,023.31	1.78
Advisor Class	1,000.00	1,023.31	1.78
Premier Class	1,000.00	1,022.56	2.54
Retirement Class	1,000.00	1,022.06	3.04
Retail Class	1,000.00	1,022.06	3.04

* “Expenses paid during period” is based on the Fund’s actual expense ratio for the most recent fiscal half-year, multiplied by the average account value over the six-month period, multiplied by 183/365. There were 183 days in the six months ended September 30, 2020. The Fund’s annualized six-month expense ratios for that period were 0.35% for the Institutional Class, 0.35% for the Advisor Class, 0.50% for the Premier Class, 0.60% for the Retirement Class and 0.60% for the Retail Class. The expense charges of one or more of the Fund’s share classes may reflect a waiver and/or reimbursement. Please see the prospectus for an explanation, including the date on which this reimbursement is scheduled to end. Without such waiver and/or reimbursement, the expenses of the affected share classes would be higher and their performance lower.

For more information about this expense example, please see page 9.

Portfolio composition

	% of net assets
Sector	as of 9/30/2020
Corporate bonds	26.8
Foreign government & corporate bonds denominated in U.S. dollars	24.4
U.S. Treasury securities	14.9
Asset-backed securities	10.4
U.S. agency securities	6.5
Municipal bonds	6.0
Commercial mortgage-backed securities	5.2
Mortgage-backed securities	2.6
Bank loan obligations	1.4
Short-term investments, other assets & liabilities, net	1.8
Total	100.0

Performance for the six months ended September 30, 2020

The Short Duration Impact Bond Fund returned 5.84% for the Institutional Class, compared with the 1.41% return of its benchmark, the Bloomberg Barclays U.S. 1–3 Year Government/Credit Index. For the one-year period ended September 30, 2020, the Fund returned 4.08%, versus 3.73% for the index. The performance table shows returns for all share classes of the Fund.

Jolted by COVID-19, economy showed signs of improvement later in the period

The U.S. economy contracted sharply during the period, absorbing the impact of global measures to limit the spread of the COVID-19 pandemic. Real gross domestic product decreased by an annualized rate of 31.4% in the second quarter of 2020. As containment efforts restricted commercial operations, retail business and travel, the unemployment rate spiked to 14.7% in April 2020. However, the rate steadily declined through the rest of the period, falling to 7.9% by September. Core inflation, which measures all items except food and energy, rose 1.7% over the twelve months ended September 2020. Crude oil prices, which fell steeply in the early stages of the pandemic, climbed from $20 to $40 per barrel during the six-month period.

The Federal Reserve left historically low interest rates in place during the period, maintaining the federal funds target rate at 0.00%–0.25%. In September, policymakers indicated they will keep the key short-term interest-rate measure at this level as long as the unemployment rate remains elevated and inflation stays below 2.0%.

All major segments of the fixed-income market produced gains for the period. The Bloomberg Barclays U.S. Aggregate Bond Index, a broad measure of the U.S. investment-grade fixed-rate bond market, advanced. High-yield bonds performed best, with double-digit returns, followed by U.S. Treasury inflation-protected securities (TIPS) and municipal bonds. Shorter-term bonds recorded the smallest advance.

Corporate bonds drove the benchmark’s performance

All of the sectors in the benchmark posted positive returns for the six-month period. Corporate bonds—the second-largest sector with a weighting of 23.6%—was the index’s best-performing component with a return of 4.7%. Government credit securities and government agency bonds both trailed the benchmark’s return with gains of 1.1% and 0.9%, respectively. Short-term Treasuries, by far the benchmark’s largest sector with a weighting of 65.5%, underperformed with a meager gain of just 0.3%.

Fund substantially outperformed its benchmark

The Fund outpaced its benchmark for the period, primarily due to an overweight position in the strong-performing corporate bond sector. Out-of-benchmark allocations to asset-backed securities and commercial mortgage-backed securities were the next-largest contributors. Overweight positions in government agency bonds and government credit securities were also beneficial.

Although the Fund had a substantial underweight position in short-term U.S. Treasuries, which was beneficial, unfavorable yield curve positioning—how the Fund was invested across different maturities in this sector—caused it to detract from the Fund’s relative return.

26 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

Performance as of September 30, 2020

Short Duration Impact Bond Fund		Total return						Average annual total return			Annual operating expenses*
	Inception							since
	date	6 months			1 year			inception			gross			net
Institutional Class	11/16/18		5.84	%		4.08	%		4.77	%		1.18	%		0.35	%
Advisor Class	11/16/18		5.84			4.08			4.74			1.28			0.45
Premier Class	11/16/18		5.76			3.93			4.61			1.34			0.50
Retirement Class	11/16/18		5.71			3.82			4.51			1.43			0.60
Retail Class	11/16/18		5.71			3.70			4.45			1.61			0.70
Bloomberg Barclays U.S. 1–3 Year Government/Credit Bond Index	—		1.41			3.73			4.30	‡		—			—

The returns in this report show past performance, which is no guarantee of future results. The returns do not reflect taxes that a shareholder would pay on fund distributions or on the sale of fund shares. Returns and the principal value of your investment will fluctuate. Current performance may be higher or lower than that shown, and you may have a gain or a loss when you redeem your shares. For current performance and 30-day SEC yield information, including performance to the most recent month-end, please visit TIAA.org. Performance may reflect waivers or reimbursements of certain expenses. Absent these waivers or reimbursement arrangements, performance would be lower.

You cannot invest directly in any index. Index returns do not include a deduction for fees or expenses.

*	The gross and net annual operating expenses are taken from the Fund’s prospectus. The net annual operating expenses may at times reflect a contractual reimbursement of various expenses. The expense reimbursement will continue through at least July 31, 2021, unless changed with the approval of the Board of Trustees. Without these reimbursements, expenses would be higher and returns lower.
‡	Performance is calculated from the inception date of the Institutional Class.

Holdings by maturity
% of fixed-income investments
(excluding short-term investments)
as of 9/30/2020
Less than 1 year	17.1
1–3 years	38.5
3–5 years	34.2
5–10 years	9.9
Over 10 years	0.3
Total	100.0
Holdings by credit quality
% of fixed-income investments
(excluding short-term investments)
as of 9/30/2020
U.S. Treasury & U.S. agency securities*	23.8
Aaa/AAA	11.9
Aa/AA	11.0
A/A	15.0
Baa/BBB	23.0
Ba/BB	4.0
B/B	0.2
Non-rated	11.1
Total	100.0

* These securities are guaranteed by the full faith and credit of the U.S. government.

Credit quality ratings are based on the Bloomberg Barclays methodology, which uses the median rating of those compiled by the Moody’s, Standard & Poor’s and Fitch ratings agencies. If ratings are available from only two of these agencies, the lower rating is used. When only one rating is available, that one is used. These ratings are subject to change without notice.

Fund profile

	as of 9/30/2020
Net assets	$31.26 million
Portfolio turnover rate*	75%
Number of issues	103
Option-adjusted duration‡	2.46 years
Average maturity§	2.98 years

*	The portfolio turnover rate covers the six-month period from April 1, 2020–September 30, 2020, and is not annualized.
‡	Option-adjusted duration estimates how much the value of a bond portfolio would be affected by a change in prevailing interest rates, taking into account the options embedded in the individual securities. The longer a portfolio’s duration, the more sensitive it is to changes in interest rates.
§	Average maturity is a simple average of the maturities of all the bonds in a fund’s portfolio. The maturity of a bond is the amount of time until the bond’s principal becomes due or payable.

TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 27

Short-Term Bond Fund

Expense example

Six months ended September 30, 2020

Short-Term Bond Fund	Beginning account value (4/1/20)	Ending account value (9/30/20)	Expenses paid during period* (4/1/20– 9/30/20)
Actual return
Institutional Class	$1,000.00	$1,036.01	$1.38
Advisor Class	1,000.00	1,035.61	1.79
Premier Class	1,000.00	1,035.21	2.14
Retirement Class	1,000.00	1,034.70	2.65
Retail Class	1,000.00	1,034.44	2.91
Class W	1,000.00	1,037.38	0.00
5% annual hypothetical return
Institutional Class	1,000.00	1,023.71	1.37
Advisor Class	1,000.00	1,023.31	1.78
Premier Class	1,000.00	1,022.96	2.13
Retirement Class	1,000.00	1,022.46	2.64
Retail Class	1,000.00	1,022.21	2.89
Class W	1,000.00	1,025.07	0.00

* “Expenses paid during period” is based on the Fund’s actual expense ratio for the most recent fiscal half-year, multiplied by the average account value over the six-month period, multiplied by 183/365. There were 183 days in the six months ended September 30, 2020. The Fund’s annualized six-month expense ratios for that period were 0.27% for the Institutional Class, 0.35% for the Advisor Class, 0.42% for the Premier Class, 0.52% for the Retirement Class, 0.57% for the Retail Class and 0.00% for Class W. The expense charges of one or more of the Fund’s share classes may reflect a waiver and/or reimbursement. Please see the prospectus for an explanation, including the date on which this reimbursement is scheduled to end. Without such waiver and/or reimbursement, the expenses of the affected share classes would be higher and their performance lower.

For more information about this expense example, please see page 9.

Portfolio composition

	% of net assets
Sector	as of 9/30/2020
Foreign government & corporate bonds denominated in U.S. dollars	25.4
Corporate bonds	21.4
U.S. Treasury securities	18.1
Mortgage-backed securities	12.0
Asset-backed securities	8.5
Commercial mortgage-backed securities	6.0
U.S. agency securities	2.5
Municipal bonds	2.1
Bank loan obligations	1.7
Short-term investments, other assets & liabilities, net	2.3
Total	100.0

Performance for the six months ended September 30, 2020

The Short-Term Bond Fund returned 3.60% for the Institutional Class, compared with the 1.41% return of its benchmark, the Bloomberg Barclays U.S. 1–3 Year Government/Credit Bond Index. For the one-year period ended September 30, 2020, the Fund returned 3.28%, versus 3.73% for the index. The performance table shows returns for all share classes of the Fund.

Jolted by COVID-19, economy showed signs of improvement later in the period

The U.S. economy contracted sharply during the period, absorbing the impact of global measures to limit the spread of the COVID-19 pandemic. Real gross domestic product decreased by an annualized rate of 31.4% in the second quarter of 2020. As containment efforts restricted commercial operations, retail business and travel, the unemployment rate spiked to 14.7% in April 2020. However, the rate steadily declined through the rest of the period, falling to 7.9% by September. Core inflation, which measures all items except food and energy, rose 1.7% over the twelve months ended September 2020. Crude oil prices, which fell steeply in the early stages of the pandemic, climbed from $20 to $40 per barrel during the six-month period.

The Federal Reserve left historically low interest rates in place during the period, maintaining the federal funds target rate at 0.00%–0.25%. In September, policymakers indicated they will keep the key short-term interest-rate measure at this level as long as the unemployment rate remains elevated and inflation stays below 2.0%.

All major segments of the fixed-income market produced gains for the period. The Bloomberg Barclays U.S. Aggregate Bond Index, a broad measure of the U.S. investment-grade fixed-rate bond market, advanced. High-yield bonds performed best, with double-digit returns, followed by U.S. Treasury inflation-protected securities (TIPS) and municipal bonds. Shorter-term bonds recorded the smallest advance.

Corporate bonds drove the benchmark’s performance

All of the sectors in the benchmark posted positive returns for the six-month period. Corporate bonds—the second-largest sector with a weighting of 23.6%—was the index’s best-performing component with a return of 4.7%. Government credit securities and government agency bonds both trailed the benchmark’s return with gains of 1.1% and 0.9%, respectively. Short-term Treasuries, by far the benchmark’s largest sector with a weighting of 65.5%, underperformed with a meager gain of just 0.3%.

Fund substantially outpaced its benchmark

The Fund outperformed its benchmark for the period, primarily due to favorable positioning in several sectors. Of particular note, the Fund’s out-of-benchmark allocation to asset-backed securities made the largest contribution to its relative return. Fund positions in the mortgage-backed securities and commercial mortgage-backed securities sectors—also not in the benchmark—were the next-largest contributors. An overweight position in the strong-performing corporate bond sector was also beneficial.

Although the Fund had a substantial underweight position in short-term U.S. Treasuries, which was beneficial, unfavorable yield curve positioning—how the Fund was invested across different maturities—within this sector caused it to detract from the Fund’s relative return.

28 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

Performance as of September 30, 2020

Short-Term Bond Fund		Total return						Average annual total return						Annual operating expenses*
	Inception date	6 months			1 year			5 years			10 years			gross			net
Institutional Class	3/31/06		3.60	%		3.28	%		2.46	%		2.05	%		0.27	%		0.27	%
Advisor Class	12/4/15		3.56			3.10			2.38	†		2.01	†		0.35			0.35
Premier Class	9/30/09		3.52			3.13			2.30			1.91			0.42			0.42
Retirement Class	3/31/06		3.47			3.02			2.20			1.80			0.52			0.52
Retail Class	3/31/06		3.44			2.97			2.16			1.75			0.57			0.57
Class W	9/28/18		3.74			3.55			2.56	†		2.11	†		0.27			0.00
Bloomberg Barclays U.S. 1–3 Year Government/Credit Bond Index	—		1.41			3.73			2.09			1.57			—			—

The returns in this report show past performance, which is no guarantee of future results. The returns do not reflect taxes that a shareholder would pay on fund distributions or on the sale of fund shares. Returns and the principal value of your investment will fluctuate. Current performance may be higher or lower than that shown, and you may have a gain or a loss when you redeem your shares. For current performance and 30-day SEC yield information, including performance to the most recent month-end, please visit TIAA.org. Performance may reflect waivers or reimbursements of certain expenses. Absent these waivers or reimbursement arrangements, performance would be lower.

You cannot invest directly in any index. Index returns do not include a deduction for fees or expenses.

*

The gross and net annual operating expenses are taken from the Fund’s prospectus. The net annual operating expenses may at times reflect a contractual reimbursement of various expenses. The expense reimbursement will continue through at least July 31, 2021, unless changed with the approval of the Board of Trustees. Without these reimbursements, expenses would be higher and returns lower.

†

The performance shown for the Advisor Class and Class W that is prior to their respective inception dates is based on the performance of the Institutional Class. The performance for these periods has not been restated to reflect the actual expenses of the Advisor Class and Class W. If these actual expenses had been reflected, the performance of these two classes shown for these periods would have been different because the Advisor Class and Class W have different expenses than the Institutional Class.

Holdings by maturity
% of fixed-income investments
(excluding short-term investments)
as of 9/30/2020
Less than 1 year	17.7
1–3 years	50.3
3–5 years	20.3
5–10 years	11.1
Over 10 years	0.6
Total	100.0
Holdings by credit quality
% of fixed-income investments
(excluding short-term investments)
as of 9/30/2020
U.S. Treasury & U.S. agency securities*	30.7
Aaa/AAA	12.3
Aa/AA	13.8
A/A	16.5
Baa/BBB	18.1
Ba/BB	4.0
B/B	1.0
Below B/B	0.8
Non-rated	2.8
Total	100.0

* These securities are guaranteed by the full faith and credit of the U.S. government.

Credit quality ratings are based on the Bloomberg Barclays methodology, which uses the median rating of those compiled by the Moody’s, Standard & Poor’s and Fitch ratings agencies. If ratings are available from only two of these agencies, the lower rating is used. When only one rating is available, that one is used. These ratings are subject to change without notice.

Fund profile
	as of 9/30/2020
Net assets	$2.07 billion
Portfolio turnover rate*	91%
Portfolio turnover rate, excluding mortgage dollar-roll transactions*	90%
Number of issues	484
Option-adjusted duration‡	2.14 years
Average maturity§	2.48 years

*	The portfolio turnover rate covers the six-month period from April 1, 2020–September 30, 2020, and is not annualized.
‡	Option-adjusted duration estimates how much the value of a bond portfolio would be affected by a change in prevailing interest rates, taking into account the options embedded in the individual securities. The longer a portfolio’s duration, the more sensitive it is to changes in interest rates.
§	Average maturity is a simple average of the maturities of all the bonds in a fund’s portfolio. The maturity of a bond is the amount of time until the bond’s principal becomes due or payable.

TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 29

Short-Term Bond Index Fund

Expense example

Six months ended September 30, 2020

Short-Term Bond Index Fund	Beginning account value (4/1/20)	Ending account value (9/30/20)	Expenses paid during period* (4/1/20– 9/30/20)
Actual return
Institutional Class	$1,000.00	$1,013.06	$0.50
Advisor Class	1,000.00	1,012.36	1.21
Premier Class	1,000.00	1,013.27	1.31
Retirement Class	1,000.00	1,011.79	1.77
Retail Class	1,000.00	1,011.37	2.22
Class W	1,000.00	1,013.58	0.00
5% annual hypothetical return
Institutional Class	1,000.00	1,024.57	0.51
Advisor Class	1,000.00	1,023.87	1.22
Premier Class	1,000.00	1,023.76	1.32
Retirement Class	1,000.00	1,023.31	1.78
Retail Class	1,000.00	1,022.86	2.23
Class W	1,000.00	1,025.07	0.00

* “Expenses paid during period” is based on the Fund’s actual expense ratio for the most recent fiscal half-year, multiplied by the average account value over the six-month period, multiplied by 183/365. There were 183 days in the six months ended September 30, 2020. The Fund’s annualized six-month expense ratios for that period were 0.10% for the Institutional Class, 0.24% for the Advisor Class, 0.26% for the Premier Class, 0.35% for the Retirement Class, 0.44% for the Retail Class and 0.00% for Class W. The expense charges of one or more of the Fund’s share classes may reflect a waiver and/or reimbursement. Please see the prospectus for an explanation, including the date on which this reimbursement is scheduled to end. Without such waiver and/or reimbursement, the expenses of the affected share classes would be higher and their performance lower.

For more information about this expense example, please see page 9.

Portfolio composition
	% of net assets
Sector	as of 9/30/2020
U.S. Treasury securities	64.3
Corporate bonds	18.7
Foreign government & corporate bonds denominated in U.S. dollars	12.9
U.S. agency securities	3.4
Mortgage-backed securities	0.3
Short-term investments, other assets & liabilities, net	0.4
Total	100.0

Performance for the six months ended September 30, 2020

The Short-Term Bond Index Fund returned 1.31% for the Institutional Class, compared with the 1.41% return of its benchmark, the Bloomberg Barclays U.S. 1–3 Year Government/Credit Bond Index. For the one-year period ended September 30, 2020, the Fund returned 3.60%, versus 3.73% for the index. The performance table shows returns for all share classes of the Fund.

Jolted by COVID-19, economy showed signs of improvement later in the period

The U.S. economy contracted sharply during the period, absorbing the impact of global measures to limit the spread of the COVID-19 pandemic. Real gross domestic product decreased by an annualized rate of 31.4% in the second quarter of 2020. As containment efforts restricted commercial operations, retail business and travel, the unemployment rate spiked to 14.7% in April 2020. However, the rate steadily declined through the rest of the period, falling to 7.9% by September. Core inflation, which measures all items except food and energy, rose 1.7% over the twelve months ended September 2020.

The Federal Reserve left historically low interest rates in place during the period, maintaining the federal funds target rate at 0.00%–0.25%. In September, policymakers indicated they will keep the key short-term interest-rate measure at this level as long as the unemployment rate remains elevated and inflation stays below 2.0%.

All major segments of the fixed-income market produced gains for the period. The Bloomberg Barclays U.S. Aggregate Bond Index, a broad measure of the U.S. investment-grade fixed-rate bond market, advanced. High-yield bonds performed best, with double-digit returns, followed by U.S. Treasury inflation-protected securities (TIPS) and municipal bonds. Shorter-term bonds recorded the smallest advance.

Corporate bonds drove the benchmark’s performance

All of the sectors in the benchmark posted positive returns for the six-month period. Corporate bonds—the second-largest sector with a weighting of 23.6%—was the index’s best-performing component with a return of 4.7%. Government credit securities and government agency bonds both trailed the benchmark’s return with gains of 1.1% and 0.9%, respectively. Short-term Treasuries, by far the benchmark’s largest sector with a weighting of 65.5%, underperformed with a meager gain of just 0.3%.

Fund advanced but trailed its benchmark

For the six months, the Fund underperformed its benchmark. The Fund’s return includes a deduction for expenses, while the benchmark’s does not.

The Fund seeks to maintain the overall characteristics of its benchmark. The Fund’s managers invest in the same sectors that are included in the benchmark and closely match the benchmark’s weightings and maturities. At times, the Fund may also invest in securities not held in the index, but which have investment characteristics that are similar to securities held in the index. During the period, this portfolio had sector returns that were similar to its benchmark, enabling it to resemble the index’s performance.

Throughout the period, the Fund’s managers kept the Fund’s duration—a measure of its sensitivity to interest-rate changes—close to that of its benchmark. This strategy helped the Fund’s risk and reward characteristics to more closely resemble those of its benchmark.

30 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

Performance as of September 30, 2020

Short-Term Bond Index Fund		Total return						Average annual total return						Annual operating expenses*
	Inception date	6 months			1 year			5 years			since inception			gross			net
Institutional Class	8/7/15		1.31	%		3.60	%		1.93	%		1.94	%		0.13	%		0.12	%
Advisor Class	12/4/15		1.24			3.45			1.82	†		1.83	†		0.27			0.26
Premier Class	8/7/15		1.33			3.54			1.78			1.78			0.28			0.27
Retirement Class	8/7/15		1.18			3.34			1.68			1.68			0.38			0.37
Retail Class	8/7/15		1.14			3.22			1.59			1.59			0.50			0.47
Class W	9/28/18		1.36			3.71			1.97	†		1.98	†		0.13			0.00
Bloomberg Barclays U.S. 1–3 Year Government/ Credit Bond Index	—		1.41			3.73			2.09			2.10	‡		—			—

The returns in this report show past performance, which is no guarantee of future results. The returns do not reflect taxes that a shareholder would pay on fund distributions or on the sale of fund shares. Returns and the principal value of your investment will fluctuate. Current performance may be higher or lower than that shown, and you may have a gain or a loss when you redeem your shares. For current performance and 30-day SEC yield information, including performance to the most recent month-end, please visit TIAA.org. Performance may reflect waivers or reimbursements of certain expenses. Absent these waivers or reimbursement arrangements, performance would be lower.

You cannot invest directly in any index. Index returns do not include a deduction for fees or expenses.

*	The gross and net annual operating expenses are taken from the Fund’s prospectus. The net annual operating expenses may at times reflect a contractual reimbursement of various expenses. The expense reimbursement will continue through at least July 31, 2021, unless changed with the approval of the Board of Trustees. Without these reimbursements, expenses would be higher and returns lower.
†	The performance shown for the Advisor Class and Class W that is prior to their respective inception dates is based on the performance of the Institutional Class. The performance for these periods has not been restated to reflect the actual expenses of the Advisor Class and Class W. If these actual expenses had been reflected, the performance of these two classes shown for these periods would have been different because the Advisor Class and Class W have different expenses than the Institutional Class.
‡	Performance is calculated from the inception date of the Institutional Class.

Holdings by maturity
% of fixed-income investments
(excluding short-term investments)
as of 9/30/2020
Less than 1 year	2.6
1–3 years	95.2
3–5 years	1.6
5–10 years	0.6
Total	100.0
Holdings by credit quality
% of fixed-income investments
(excluding short-term investments)
as of 9/30/2020
U.S. Treasury & U.S. agency securities*	67.2
Aaa/AAA	5.4
Aa/AA	4.7
A/A	12.7
Baa/BBB	10.0
Total	100.0

* These securities are guaranteed by the full faith and credit of the U.S. government.

Credit quality ratings are based on the Bloomberg Barclays methodology, which uses the median rating of those compiled by the Moody’s, Standard & Poor’s and Fitch ratings agencies. If ratings are available from only two of these agencies, the lower rating is used. When only one rating is available, that one is used. These ratings are subject to change without notice.

Fund profile

	as of 9/30/2020
Net assets	$849.49 million
Portfolio turnover rate*	27%
Number of issues	731
Option-adjusted duration‡	1.91 years
Average maturity§	1.96 years

*	The portfolio turnover rate covers the six-month period from April 1, 2020–September 30, 2020, and is not annualized.
‡	Option-adjusted duration estimates how much the value of a bond portfolio would be affected by a change in prevailing interest rates, taking into account the options embedded in the individual securities. The longer a portfolio’s duration, the more sensitive it is to changes in interest rates.
§	Average maturity is a simple average of the maturities of all the bonds in a fund’s portfolio. The maturity of a bond is the amount of time until the bond’s principal becomes due or payable.

TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 31

Money Market Fund

Expense example

Six months ended September 30, 2020

Money Market Fund	Beginning account value (4/1/20)	Ending account value (9/30/20)	Expenses paid during period* (4/1/20– 9/30/20)
Actual return
Institutional Class	$1,000.00	$1,000.90	$0.60
Advisor Class	1,000.00	1,001.47	0.10
Premier Class	1,000.00	1,000.39	1.10
Retirement Class	1,000.00	1,000.41	1.15
Retail Class	1,000.00	1,000.18	1.35
5% annual hypothetical return
Institutional Class	1,000.00	1,024.47	0.61
Advisor Class	1,000.00	1,024.97	0.10
Premier Class	1,000.00	1,023.97	1.12
Retirement Class	1,000.00	1,023.92	1.17
Retail Class	1,000.00	1,023.71	1.37

* “Expenses paid during period” is based on the Fund’s actual expense ratio for the most recent fiscal half-year, multiplied by the average account value over the six-month period, multiplied by 183/365. There were 183 days in the six months ended September 30, 2020. The Fund’s annualized six-month expense ratios for that period were 0.12% for the Institutional Class, 0.02% for the Advisor Class, 0.22% for the Premier Class, 0.23% for the Retirement Class and 0.27% for the Retail Class. The expense charges of one or more of the Fund’s share classes may reflect a waiver and/or reimbursement. Please see the prospectus for an explanation, including the date on which this reimbursement is scheduled to end. Without such waiver and/or reimbursement, the expenses of the affected share classes would be higher and their performance lower.

For more information about this expense example, please see page 9.

Portfolio composition

	% of net assets
Sector	as of 9/30/2020
U.S. Treasury securities*	52.1
Floating-rate securities, government*	31.8
U.S. government agency securities*	16.2
Other assets & liabilities, net	–0.1
Total	100.0

* These securities are guaranteed by the full faith and credit of the U.S. government.

Performance for the six months ended September 30, 2020

The Money Market Fund returned 0.09% for the Institutional Class, compared with the 0.02% return of the iMoneyNet Money Fund Averages™—All Government, a simple average of over 500 money market funds that invest in short-term U.S. government securities. The iMoneyNet average is not an index, and its return reflects the deduction of expenses charged by the funds included in the average. For the one-year period ended September 30, 2020, the Fund returned 0.85%, versus 0.61% for the iMoneyNet average. The performance table shows returns for all share classes of the Fund.

Jolted by COVID-19, economy showed signs of improvement later in the period

The U.S. economy contracted sharply during the period, absorbing the impact of global measures to limit the spread of the COVID-19 pandemic. Real gross domestic product decreased by an annualized rate of 31.4% in the second quarter of 2020. As containment efforts restricted commercial operations, retail business and travel, the unemployment rate spiked to 14.7% in April 2020. However, the rate steadily declined through the rest of the period, falling to 7.9% by September. Core inflation, which measures all items except food and energy, rose 1.7% over the twelve months ended September 2020. Crude oil prices, which fell steeply in the early stages of the pandemic, climbed from $20 to $40 per barrel during the six-month period.

The Federal Reserve left historically low interest rates in place during the period, maintaining the federal funds target rate at 0.00%–0.25%. In September, policymakers indicated they will keep the key short-term interest-rate measure at this level as long as the unemployment rate remains elevated and inflation stays below 2.0%.

The Fed’s actions kept yields on the short-term government securities in which the Fund invests at near-zero levels. The “secured overnight financing rate” (SOFR)—a key indicator of short-term government money market rates—rose slightly from 0.01% on April 1, 2020, to 0.08% on September 30, 2020.

Early investment surge abated during the period

Due to extreme equity and bond market volatility at the beginning of the period, government-only money market funds initially attracted significant assets as investors sought the quality and relative safety of these investments. This large influx of money into the Fund was subsequently invested in the current low-rate environment, resulting in a decline in the portfolio yield, which is likely to persist for the foreseeable future. As the period progressed and markets recovered, investors felt more confident about the prospects of riskier asset classes, and the Fund’s assets declined slightly.

Fund outperformed the iMoneyNet average

For the period, the return of the Money Market Fund surpassed that of the iMoneyNet government fund average. In pursuit of additional yield, management continued its strategy of holding higher-yielding floating-rate government agency paper, which was beneficial. As of September 29, 2020, the Fund’s weighted average maturity was 42 days, versus 44 days for the iMoneyNet government fund average. iMoneyNet releases their data on a weekly basis, and September 29 was the last date of release for the month.

32 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

Performance as of September 30, 2020

Money Market Fund		Total return						Average annual total return						Annual operating expenses*
	Inception date		6 months		1 year				5 years		10 years				gross		net
Institutional Class	7/1/99		0.09	%		0.85	%		1.06	%		0.54	%		0.13	%		0.13	%
Advisor Class	12/4/15		0.15			0.96			1.06	†		0.54	†		0.23			0.23
Premier Class	9/30/09		0.04			0.72			0.92			0.46			0.28			0.28
Retirement Class	3/31/06		0.04			0.73			0.87			0.44			0.38			0.38
Retail Class	3/31/06		0.02			0.61			0.77			0.38			0.47			0.47
iMoneyNet Money Fund Averages™—All Government§	—		0.02			0.61			0.80			0.41			—			—

The returns in this report show past performance, which is no guarantee of future results. The returns do not reflect taxes that a shareholder would pay on fund distributions or on the sale of fund shares. Returns and the principal value of your investment will fluctuate. Current performance may be higher or lower than that shown, and you may have a gain or a loss when you redeem your shares. For current performance information, including performance to the most recent month-end, please visit TIAA.org. Performance may reflect waivers or reimbursements of certain expenses. Absent these waivers or reimbursement arrangements, the 7-day current and effective annualized yields and total returns would have been lower.

You could lose money by investing in this Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. The Fund’s sponsor has no legal obligation to provide support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time. For a detailed discussion of risk, please see the prospectus. The current yield more closely reflects current earnings than does the total return.

*	The gross and net annual operating expenses are taken from the Fund’s prospectus. The net annual operating expenses may at times reflect a contractual reimbursement of various expenses. The expense reimbursement will continue through at least July 31, 2021, unless changed with the approval of the Board of Trustees. Without these reimbursements, expenses would be higher and returns lower.
†	The performance shown for the Advisor Class that is prior to its inception date is based on the performance of the Institutional Class. The performance for these periods has not been restated to reflect the actual expenses of the Advisor Class. If these actual expenses had been reflected, the performance of the Advisor Class shown for these periods would have been different because the Advisor Class has different expenses than the Institutional Class.
§	The iMoneyNet Money Fund Averages—All Government is a simple average of over 500 money market funds that invest in U.S. Treasuries, U.S. Agencies, repurchase agreements and government-backed floating-rate notes. You cannot invest directly in it.

Net annualized yield

(for the 7 days ended September 29, 2020)^‡

	Current			Effective
	yield			yield
Money Market Fund
Institutional Class		0.04	%		0.04	%
Advisor Class		0.03			0.03
Premier Class		0.00			0.00
Retirement Class		0.00			0.00
Retail Class		0.00			0.00
iMoneyNet Money Fund Averages™—All Government§		0.01			0.01

The current yield more closely reflects current earnings than does the total return.

^‡ Typically, iMoneyNet reports its 7-day yields as of Tuesday of each week.

Fund profile

	as of 9/30/2020
Net assets	$2.00 billion
Number of issues	101

TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 33

Summary portfolio of investments (unaudited)

Bond Index Fund  ■  September 30, 2020

Principal		Issuer	Value		% of net assets
BONDS
CORPORATE BONDS
AUTOMOBILES & COMPONENTS			$	16,663,225		0.1	%
BANKS
		Bank of America Corp
$	96,490,000	0.981%–6.110%, 01/23/22–03/20/51		106,702,458		0.6
		Other		585,372,774		3.3
				692,075,232		3.9
CAPITAL GOODS				235,678,001		1.4
COMMERCIAL & PROFESSIONAL SERVICES				29,623,038		0.2
CONSUMER DURABLES & APPAREL				22,949,676		0.1
CONSUMER SERVICES				99,871,236		0.5
DIVERSIFIED FINANCIALS				529,917,740		3.0
ENERGY				389,849,030		2.2
FOOD & STAPLES RETAILING				56,119,525		0.3
FOOD, BEVERAGE & TOBACCO				213,766,331		1.3
HEALTH CARE EQUIPMENT & SERVICES				237,884,855		1.4
HOUSEHOLD & PERSONAL PRODUCTS				25,535,628		0.2
INSURANCE				149,939,230		0.9
MATERIALS				133,961,382		0.7
MEDIA & ENTERTAINMENT				216,188,517		1.3
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES				282,642,283		1.7
REAL ESTATE				176,002,761		1.1
RETAILING				125,315,186		0.6
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT				87,359,449		0.5
SOFTWARE & SERVICES				193,260,797		1.1
TECHNOLOGY HARDWARE & EQUIPMENT				132,237,718		0.7
TELECOMMUNICATION SERVICES				215,897,213		1.2
TRANSPORTATION				140,520,306		0.8
UTILITIES				404,145,769		2.2
TOTAL CORPORATE BONDS (Cost $4,360,303,044)				4,807,404,128		27.4
GOVERNMENT BONDS
AGENCY SECURITIES				236,648,328		1.4
FOREIGN GOVERNMENT BONDS				660,319,782		3.8
MORTGAGE BACKED
		Federal Home Loan Mortgage Corp (FHLMC)
	143,663,046	0.250%–4.058%, 08/24/23–04/01/50		152,867,482		0.9
		Federal Home Loan Mortgage Corp Gold (FGLMC)
	804,095,978	2.500%–8.000%, 12/01/20–05/01/49		858,034,079		4.8

Principal		Issuer	Value		% of net assets
MORTGAGE BACKED—continued
		Federal National Mortgage Association (FNMA)
$	76,411,243	2.000%, 09/01/35	$	79,443,349		0.5	%
	52,559,464	3.000%, 11/01/46		55,248,764		0.3
	59,854,435	3.000%, 01/01/47		62,917,887		0.4
	58,708,433	3.000%, 05/01/50		61,500,426		0.4
	123,077,353	2.500%, 09/01/50		129,189,257		0.7
	100,000,000	2.000%, 10/01/50		103,394,445		0.6
	269,500,000	2.500%, 10/01/50		282,883,111		1.6
	1,620,014,237	0.250%–8.000%, 11/01/20–07/01/55		1,728,182,505		9.9
		Government National Mortgage Association (GNMA)
	57,983,203	2.000%, 08/20/50		60,278,166		0.4
	99,266,149	3.000%, 08/20/50		104,899,753		0.6
	946,636,313	2.500%–8.500%, 01/20/24–09/20/50		1,010,642,458		5.7
		Other		1,999,285		0.0
				4,691,480,967		26.8
MUNICIPAL BONDS				158,177,434		0.9
U.S. TREASURY SECURITIES
		United States Treasury Bond
	179,483,000	3.500%, 02/15/39		251,949,261		1.4
	44,850,000	4.375%, 11/15/39		70,072,869		0.4
	48,300,000	3.125%, 11/15/41		65,265,375		0.4
	45,000,000	2.750%, 11/15/47		58,477,149		0.3
	48,500,000	3.125%, 05/15/48		67,426,367		0.4
	82,500,000	3.000%, 02/15/49		112,773,632		0.6
	469,485,000	2.250%–5.000%, 02/15/36–11/15/49		647,798,824		3.8
		United States Treasury Note
	72,000,000	1.875%, 04/30/22		73,974,375		0.4
	65,000,000	2.000%, 10/31/22		67,518,750		0.4
	108,000,000	2.000%, 11/30/22		112,336,875		0.6
	60,000,000	2.625%, 02/28/23		63,583,594		0.4
	80,000,000	2.500%, 03/31/23		84,696,875		0.5
	80,000,000	2.750%, 05/31/23		85,518,750		0.5
	91,500,000	2.625%, 06/30/23		97,694,121		0.6
	80,000,000	2.750%, 07/31/23		85,853,125		0.5
	116,000,000	2.750%, 08/31/23		124,713,594		0.7
	65,000,000	2.875%, 11/30/23		70,537,695		0.4
	55,000,000	2.625%, 12/31/23		59,352,734		0.3
	129,300,000	2.500%, 01/31/24		139,260,141		0.8
	70,000,000	2.375%, 02/29/24		75,217,188		0.4
	325,000,000	2.125%, 03/31/24		346,950,195		2.0
	174,000,000	2.250%, 04/30/24		186,764,532		1.1
	111,500,000	2.000%, 05/31/24		118,830,254		0.7
	152,000,000	1.750%, 06/30/24		160,799,374		0.9
	212,000,000	1.750%, 07/31/24		224,504,689		1.3
	81,000,000	1.500%, 09/30/24		85,135,430		0.5
	90,500,000	1.500%, 10/31/24		95,191,153		0.5
	61,900,000	1.500%, 11/30/24		65,164,258		0.4
	75,000,000	1.750%, 12/31/24		79,810,547		0.5
	73,000,000	0.500%, 03/31/25		73,826,953		0.4
	134,000,000	0.250%, 06/30/25		133,916,250		0.8
	110,000,000	0.250%, 07/31/25		109,896,875		0.6
	50,000,000	2.250%, 03/31/26		55,222,656		0.3
	71,000,000	1.625%, 09/30/26		76,255,664		0.4
	89,500,000	1.750%, 12/31/26		96,988,633		0.6
	48,800,000	2.750%, 02/15/28		56,764,312		0.3
	66,000,000	2.875%, 05/15/28		77,647,969		0.4
	85,000,000	3.125%, 11/15/28		102,381,836		0.6
	50,000,000	2.625%, 02/15/29		58,390,625		0.3
	92,000,000	2.375%, 05/15/29		105,853,906		0.6
	117,000,000	1.500%, 02/15/30		126,195,469		0.7

34 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements

Summary portfolio of investments(unaudited) concluded

Bond Index Fund  ■  September 30, 2020

Principal		Issuer	Value			% of net assets
U.S. TREASURY SECURITIES—continued
$	57,000,000	1.000%, 05/15/40	$	56,100,469			0.3	%
	1,444,484,100	0.250%–8.000%, 07/31/21–08/15/50		1,494,397,390			8.5
				6,401,010,733			36.5
		TOTAL GOVERNMENT BONDS (Cost $11,366,195,222)		12,147,637,244			69.4
STRUCTURED ASSETS
ASSET BACKED				115,517,236			0.7
OTHER MORTGAGE BACKED				344,047,792			2.0
		TOTAL STRUCTURED ASSETS (Cost $434,541,609)		459,565,028			2.7
		TOTAL BONDS (Cost $16,161,040,232)		17,414,606,400			99.5
SHORT-TERM INVESTMENTS
GOVERNMENT AGENCY DEBT				189,754,607			1.1
REPURCHASE AGREEMENT				9,965,000			0.1
TREASURY DEBT				217,000,818			1.2
		TOTAL SHORT-TERM INVESTMENTS (Cost $416,719,380)		416,720,425			2.4
		TOTAL PORTFOLIO (Cost $16,577,759,612)		17,831,326,825			101.9
		OTHER ASSETS & LIABILITIES, NET		(329,072,468	)		(1.9	)
		NET ASSETS	$	17,502,254,357			100.0	%

“Other” securities represent the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent 1% or less of net assets.

At 9/30/20, the aggregate value of securities exempt from registration under Rule 144(A) of the Securities Act of 1933, as amended, amounted to $159,989,711 or 0.9% of net assets. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers.

For ease of presentation, a number of classification categories have been grouped together in the Summary portfolio of investments. Note that the Fund uses more specific categories in following its investment limitations on investment concentrations.

See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 35

Summary portfolio of investments (unaudited)

Core Bond Fund  ■  September 30, 2020

Principal		Issuer	Value		% of net assets
BANK LOAN OBLIGATIONS
AUTOMOBILES & COMPONENTS			$	1,939,207		0.0	%
CAPITAL GOODS				5,910,824		0.1
COMMERCIAL & PROFESSIONAL SERVICES				17,184,455		0.2
CONSUMER DURABLES & APPAREL				1,009,516		0.0
CONSUMER SERVICES				9,299,061		0.1
DIVERSIFIED FINANCIALS				1,943,145		0.0
ENERGY				3,849,736		0.1
FOOD, BEVERAGE & TOBACCO				2,804,592		0.0
HEALTH CARE EQUIPMENT & SERVICES				16,146,089		0.2
INSURANCE				8,918,073		0.1
MATERIALS				16,145,775		0.2
MEDIA & ENTERTAINMENT				10,740,704		0.2
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES				9,952,459		0.1
REAL ESTATE				1,649,027		0.0
RETAILING				1,201,009		0.0
SOFTWARE & SERVICES				6,167,341		0.1
TECHNOLOGY HARDWARE & EQUIPMENT				7,595,207		0.1
TELECOMMUNICATION SERVICES				3,838,951		0.1
TRANSPORTATION				5,811,076		0.1
UTILITIES				7,569,216		0.1
		TOTAL BANK LOAN OBLIGATIONS (Cost $143,252,441)		139,675,463		1.8
BONDS
CORPORATE BONDS
AUTOMOBILES & COMPONENTS				29,369,972		0.4
BANKS
		Bank of America Corp
$	26,650,000	2.496%, 02/13/31		27,779,665		0.4
	121,690,000	0.981%–6.250%, 03/05/24–09/17/69		130,781,419		1.7
		Citigroup, Inc
	32,075,000	2.666%, 01/29/31		33,735,900		0.4
		JPMorgan Chase & Co
	105,465,000	2.301%–5.000%, 09/10/24–02/01/69		116,808,614		1.5
		Other		315,428,853		4.2
				624,534,451		8.2
CAPITAL GOODS				90,275,588		1.2
COMMERCIAL & PROFESSIONAL SERVICES				28,088,932		0.4
CONSUMER DURABLES & APPAREL				1,925,674		0.0
CONSUMER SERVICES				33,453,618		0.4
DIVERSIFIED FINANCIALS				289,381,281		3.9
ENERGY				252,104,511		3.4
FOOD & STAPLES RETAILING				56,321,540		0.7

Principal		Issuer	Value		% of net assets
FOOD, BEVERAGE & TOBACCO			$	125,538,472		1.7	%
HEALTH CARE EQUIPMENT & SERVICES				139,437,799		1.8
HOUSEHOLD & PERSONAL PRODUCTS				1,535,553		0.0
INSURANCE				106,566,416		1.4
MATERIALS				105,651,651		1.5
MEDIA & ENTERTAINMENT
		Comcast Corp
$	73,955,000	1.500%–4.700%, 10/15/25–08/15/52		81,957,715		1.1
		Other		128,119,621		1.7
				210,077,336		2.8
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES				145,223,851		1.9
REAL ESTATE				165,733,515		2.2
RETAILING				42,928,749		0.6
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT				37,611,722		0.5
SOFTWARE & SERVICES				88,248,398		1.1
TECHNOLOGY HARDWARE & EQUIPMENT				76,136,545		1.0
TELECOMMUNICATION SERVICES
		AT&T, Inc
	83,241,000	2.250%–4.500%, 06/30/22–09/15/59		88,584,201		1.2
		Verizon Communications, Inc
	25,000,000	3.150%, 03/22/30		28,231,961		0.4
		Other		90,544,189		1.1
				207,360,351		2.7
TRANSPORTATION				72,667,623		1.0
	UTILITIES			287,923,159		3.7
		TOTAL CORPORATE BONDS (Cost $3,026,240,099)		3,218,096,707		42.5
GOVERNMENT BONDS
AGENCY SECURITIES				29,382,374		0.4
FOREIGN GOVERNMENT BONDS				226,682,134		3.0
MORTGAGE BACKED
		Federal Home Loan Mortgage Corp (FHLMC)
	41,623,749	4.000%, 09/01/49		45,917,994		0.6
		Federal Home Loan Mortgage Corp Gold (FGLMC)
	23,471,654	3.500%, 10/01/45		25,890,682		0.3
	27,702,763	3.500%, 08/01/46		30,526,348		0.4
	138,318,722	3.000%–8.000%, 01/01/31–08/01/48		151,804,776		2.0
		Federal National Mortgage Association (FNMA)
	34,000,000	2.500%, 10/25/32		35,498,125		0.5
	49,000,000	2.000%, 10/25/35		50,914,062		0.7
	29,612,147	4.000%, 09/01/47		31,703,738		0.4
	24,273,448	4.000%, 12/01/47		27,019,903		0.4
	24,632,397	3.000%, 02/25/48		26,180,928		0.4
	34,746,407	3.500%, 03/01/48		36,745,716		0.5
	107,000,000	2.500%, 10/01/50		112,313,517		1.5
	38,000,000	2.000%, 10/25/50		39,282,500		0.5
	80,000,000	3.000%, 10/25/50		83,803,125		1.1
	59,000,000	2.000%, 11/25/50		60,845,466		0.8
	74,000,000	2.500%, 11/25/50		77,453,559		1.0
	111,000,000	3.000%, 11/25/50		116,302,852		1.5
	297,844,450	0.000%–8.000%, 07/01/24–08/01/49		311,667,405		4.2

36 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements

Summary portfolio of investments(unaudited) continued

Core Bond Fund  ■  September 30, 2020

Principal		Issuer	Value		% of net assets
MORTGAGE BACKED—continued
		Government National Mortgage Association (GNMA)
$	138,000,000	3.000%, 10/20/46	$	144,490,312		1.9	%
	35,000,000	2.000%, 10/20/50		36,356,250		0.5
	52,000,000	2.500%, 10/20/50		54,396,875		0.7
		Other		84,206,471		1.0
				1,583,320,604		20.9
MUNICIPAL BONDS				283,566,240		3.7
U.S. TREASURY SECURITIES
		United States Treasury Bond
	46,875,000	3.500%, 02/15/39		65,800,781		0.9
	42,835,000	2.750%, 11/15/47		55,663,748		0.7
	55,445,000	3.000%, 02/15/48		75,346,723		1.0
	46,841,000	3.375%, 11/15/48		68,151,825		0.9
		United States Treasury Note
	38,610,000	0.250%, 09/30/25		38,558,721		0.5
	100,000,000	0.375%, 09/30/27		99,328,125		1.3
	37,625,000	0.625%, 08/15/30		37,407,480		0.5
	44,875,000	1.375%, 08/15/50		43,907,383		0.6
		Other		111,155,242		1.4
				595,320,028		7.8
		TOTAL GOVERNMENT BONDS (Cost $2,572,549,712)		2,718,271,380		35.8
STRUCTURED ASSETS
ASSET BACKED
		Chase Issuance Trust
		Series–2020 A1 (Class A1)
	30,105,000	1.530%, 01/15/25		30,962,860		0.4
		Other		522,788,319		6.9
				553,751,179		7.3
OTHER MORTGAGE BACKED
		COMM Mortgage Trust
	90,995,047	g,i 2.853%–5.463%, 10/10/29–08/15/57		95,416,693		1.3
		Other		605,746,676		8.0
				701,163,369		9.3
		TOTAL STRUCTURED ASSETS (Cost $1,239,015,718)		1,254,914,548		16.6
		TOTAL BONDS (Cost $6,837,805,674)		7,191,282,635		94.9
SHORT-TERM INVESTMENTS
GOVERNMENT AGENCY DEBT
		Federal Home Loan Bank (FHLB)
	50,012,000	0.095%–0.115%, 10/21/20		50,010,333		0.7
	30,429,000	0.090%–0.108%, 11/13/20		30,426,456		0.4
	42,160,000	0.085%–0.100%, 12/02/20		42,153,465		0.6
	38,745,000	0.110%, 02/12/21		38,730,578		0.5
	26,326,000	0.110%–0.120%, 03/05/21		26,314,665		0.3
	177,628,000	0.080%–0.115%, 10/07/20–03/03/21		177,602,703		2.3
		Federal National Mortgage Association (FNMA)
	25,000,000	0.133%, 10/07/20		24,999,750		0.3
		Other		45,597,476		0.6
				435,835,426		5.7

Principal			Issuer	Value			% of net assets
REPURCHASE AGREEMENT
			Fixed Income Clearing Corp (FICC)
$	73,945,000	r	0.070%, 10/01/20	$	73,945,000			1.0	%
					73,945,000			1.0
TREASURY DEBT
			United States Cash Management Bill
	31,350,000		0.121%, 11/03/20		31,347,333			0.4
	51,335,000		0.097%–0.103%, 12/01/20		51,326,932			0.7
	30,000,000		0.093%, 12/08/20		29,991,783			0.4
	28,150,000		0.108%, 12/15/20		28,143,842			0.4
	34,000,000		0.116%, 12/22/20		33,993,417			0.4
	30,300,000		0.091%, 01/12/21		30,293,498			0.4
			United States Treasury Bill
	50,000,000		0.130%, 10/08/20		49,999,368			0.7
	32,375,000		0.100%, 10/22/20		32,373,348			0.4
	42,570,000		0.090%, 11/27/20		42,563,260			0.6
	45,893,000		0.089%–0.110%, 12/03/20		45,884,969			0.6
	55,000,000		0.100%–0.115%, 12/31/20		54,985,402			0.7
	72,645,000		0.095%–0.098%, 01/21/21		72,621,269			0.9
	74,500,000		0.106%, 03/25/21		74,459,257			1.0
			Other		112,088,784			1.5
					690,072,462			9.1
			TOTAL SHORT-TERM INVESTMENTS (Cost $1,199,804,840)		1,199,852,888			15.8
			TOTAL PORTFOLIO (Cost $8,180,862,955)		8,530,810,986			112.4
			OTHER ASSETS & LIABILITIES, NET		(942,396,744	)		(12.4	)
			NET ASSETS	$	7,588,414,242			100.0	%

g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933, as amended. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 9/30/20, the aggregate value of these securities, including those in “Other,” is $1,452,477,170 or 19.1% of net assets.
i	Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.
r	Agreement with Fixed Income Clearing Corporation, 0.070% dated 9/30/20 to be repurchased at $73,945,000 on 10/1/20, collateralized by U.S. Treasury Notes valued at $75,423,955.

“Other” securities represent the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent 1% or less of net assets.

For ease of presentation, a number of classification categories have been grouped together in the Summary portfolio of investments. Note that the Fund uses more specific categories in following its investment limitations on investment concentrations.

See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 37

Summary portfolio of investments(unaudited) concluded

Core Bond Fund  ■  September 30, 2020

Forward foreign currency contracts outstanding as of September 30, 2020 were as follows:

Currency to be purchased	Receive	Currency to be sold	Deliver	Counterparty	Settlement date	Unrealized appreciation (depreciation	)
$	3,352,578	EUR	2,817,790	Citibank, N.A.	11/18/20	$45,514

Abbreviation(s):

EUR Euro

Centrally cleared credit default swap contracts outstanding as of September 30, 2020 were as follows:

PURCHASED

Reference entity	Terms of payments to be paid	Terms of payments to be received	Counterparty	Maturity date	Notional amount	*	Variation margin		Unrealized appreciation (depreciation	)
CDX-NAHYS35V1-5Y	5.000%	Credit event as specified in contract	Citigroup Global Markets, Inc	12/20/25	50,000,000		$(74,944	)	$(208,144	)

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

38 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements

Summary portfolio of investments (unaudited)

Core Impact Bond Fund  ■  September 30, 2020

Principal			Issuer	Value		% of net assets
BANK LOAN OBLIGATIONS
TRANSPORTATION				$	2,320,852		0.0	%
UTILITIES					5,158,440		0.1
			TOTAL BANK LOAN OBLIGATIONS(Cost $7,427,063)		7,479,292		0.1
BONDS
CORPORATE BONDS
AUTOMOBILES & COMPONENTS					67,197,596		1.2
BANKS
			BPCE S.A.
$	21,400,000	g	1.652%, 10/06/26		21,403,622		0.4
			Other		408,235,162		7.1
					429,638,784		7.5
CAPITAL GOODS					119,140,569		2.0
COMMERCIAL & PROFESSIONAL SERVICES					783,544		0.0
CONSUMER DURABLES & APPAREL					9,498,561		0.2
CONSUMER SERVICES					76,881,455		1.3
DIVERSIFIED FINANCIALS					207,269,916		3.6
ENERGY					163,514,114		2.8
FOOD & STAPLES RETAILING					5,544,134		0.1
FOOD, BEVERAGE & TOBACCO					37,438,125		0.7
HEALTH CARE EQUIPMENT & SERVICES					26,418,165		0.5
HOUSEHOLD & PERSONAL PRODUCTS					29,062,032		0.5
INSURANCE					118,371,331		2.0
MATERIALS					158,422,785		2.7
MEDIA & ENTERTAINMENT					42,152,229		0.7
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES					140,513,150		2.4
REAL ESTATE					115,415,110		2.0
RETAILING					51,604,495		0.9
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT					17,008,304		0.3
SOFTWARE & SERVICES					44,952,950		0.8
TECHNOLOGY HARDWARE & EQUIPMENT					6,483,728		0.1
TRANSPORTATION					93,724,331		1.6
UTILITIES					407,825,025		7.0
			TOTAL CORPORATE BONDS (Cost $2,255,946,441)		2,368,860,433		40.9
GOVERNMENT BONDS
AGENCY SECURITIES
			Federal Home Loan Mortgage Corp (FHLMC)
	23,000,000		0.375%, 05/05/23		23,097,091		0.4
			Overseas Private Investment Corp (OPIC)
	71,997,132		0.000%–4.140%, 07/17/21–07/15/38		80,017,531		1.4
			Other		124,307,394		2.1
					227,422,016		3.9

Principal			Issuer	Value		% of net assets
FOREIGN GOVERNMENT BONDS
			Caisse d’Amortissement de la Dette Sociale
$	20,000,000	g	0.375%, 09/23/25	$	19,861,600		0.3	%
			Other		311,444,680		5.4
					331,306,280		5.7
MORTGAGE BACKED
			Federal Home Loan Mortgage Corp (FHLMC)
	18,700,000		0.250%, 08/24/23		18,701,622		0.3
	39,317,653		4.000%, 06/01/48		43,020,286		0.8
	60,155,357		0.250%–9.676%, 09/08/23–11/01/49		64,167,582		1.1
			Federal Home Loan Mortgage Corp Gold (FGLMC)
	18,826,430		3.500%, 03/01/48		20,583,619		0.4
			Federal National Mortgage Association (FNMA)
	43,000,000		2.500%, 10/25/32		44,894,687		0.8
	52,000,000		2.000%, 10/25/35		54,031,250		0.9
	28,954,544		3.500%, 03/01/48		30,620,589		0.5
	18,103,243		3.500%, 04/01/48		19,137,868		0.3
	77,000,000		2.500%, 10/01/50		80,823,746		1.4
	37,000,000		2.000%, 10/25/50		38,248,750		0.7
	67,000,000		3.000%, 10/25/50		70,185,117		1.2
	54,000,000		2.000%, 11/25/50		55,689,071		1.0
	75,000,000		2.500%, 11/25/50		78,500,228		1.4
	81,000,000		3.000%, 11/25/50		84,869,649		1.5
	233,636,873		0.000%–5.802%, 07/10/23–08/01/49		247,021,103		4.2
			Government National Mortgage Association (GNMA)
	107,000,000		3.000%, 10/20/46		112,032,344		1.9
	62,000,000		2.000%, 10/20/50		64,402,500		1.1
	69,000,000		2.500%, 10/20/50		72,180,469		1.3
			Other		72,280,440		1.1
					1,271,390,920		21.9
MUNICIPAL BONDS
			Chicago Metropolitan Water Reclamation
			District-Greater Chicago
	16,465,000		5.720%, 12/01/38		23,706,801		0.4
			Grant County Public Utility District No 2
	20,000,000		2.918%, 01/01/40		20,792,000		0.4
			Other		386,468,258		6.6
					430,967,059		7.4
U.S. TREASURY SECURITIES
			United States Treasury Inflation Indexed Bonds
	20,543,200	k	0.500%, 04/15/24		21,807,356		0.4
			United States Treasury Note
	34,600,000		0.125%, 08/31/22		34,590,539		0.6
	40,488,000		0.125%, 09/15/23		40,450,042		0.7
	40,557,000		0.250%, 09/30/25		40,503,135		0.7
	155,157,000		0.625%, 08/15/30		154,259,999		2.7
	185,621,000		1.250%, 05/15/50		175,904,901		3.0
			Other		46,663,768		0.8
					514,179,740		8.9
			TOTAL GOVERNMENT BONDS (Cost $2,706,908,217)		2,775,266,015		47.8

See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 39

Summary portfolio of investments (unaudited)	concluded
Core Impact Bond Fund  ■  September 30, 2020

	Principal	Issuer		Value	% of net assets
STRUCTURED ASSETS
ASSET BACKED			$	218,250,259	3.8	%
OTHER MORTGAGE BACKED				324,840,151	5.6
		TOTAL STRUCTURED ASSETS (Cost $536,382,268)		543,090,410	9.4
		TOTAL BONDS (Cost $5,499,236,981)		5,687,216,858	98.1
Shares		Company
PREFERRED STOCKS
REAL ESTATE				20,351,650	0.3
UTILITIES				20,720,980	0.4
		TOTAL PREFERRED STOCKS (Cost $47,325,000)		41,072,630	0.7
Principal		Issuer
SHORT-TERM INVESTMENTS
GOVERNMENT AGENCY DEBT
$	38,906,000	Federal Home Loan Bank (FHLB) 0.085%–0.130%, 10/07/20		38,905,611	0.7
	25,000,000	0.095%, 10/20/20		24,999,208	0.4
	20,460,000	0.060%–0.070%, 10/21/20		20,459,318	0.4
	26,450,000	0.090%–0.100%, 10/23/20		26,449,030	0.5
	50,000,000	0.080%–0.090%, 10/26/20		49,997,917	0.9
	23,493,000	0.070%–0.110%, 11/06/20		23,491,356	0.4
	19,985,000	0.080%–0.090%, 11/20/20		19,983,057	0.3
	23,600,000	0.095%, 11/25/20		23,597,476	0.4
	23,375,000	0.105%, 12/10/20		23,370,909	0.4
	25,000,000	0.105%, 03/26/21		24,987,778	0.4
		Other		40,788,266	0.7
				317,029,926	5.5

Principal		Issuer	Value			% of net assets
TREASURY DEBT
$	51,960,000	United States Cash Management Bill 0.065%–0.081%, 10/13/20	$	51,958,809			0.9
	30,000,000	0.115%, 11/03/20		29,997,448			0.5
	39,225,000	0.106%, 11/10/20		39,221,404			0.7
	29,600,000	0.082%, 11/17/20		29,596,329			0.5
	61,270,000	0.110%–0.116%, 12/22/20		61,258,138			1.1
	20,000,000	0.106%, 01/05/21		19,994,933			0.3
	47,100,000	0.101%–0.116%, 01/19/21		47,084,889			0.8
		United States Treasury Bill
	36,265,000	0.127%–0.140%, 10/01/20		36,265,000			0.6
	50,000,000	0.081%, 10/06/20		49,999,531			0.9
	24,095,000	0.083%–0.110%, 10/22/20		24,093,770			0.4
	20,000,000	0.075%, 11/19/20		19,997,550			0.4
	51,907,000	0.089%–0.096%, 12/03/20		51,897,916			0.9
	29,770,000	0.115%, 12/31/20		29,762,098			0.5
		Other		17,672,393			0.3
				508,800,208			8.8
		TOTAL SHORT-TERM INVESTMENTS (Cost $825,817,251)		825,830,134			14.3
		TOTAL PORTFOLIO (Cost $6,379,806,295)		6,561,598,914			113.2
		OTHER ASSETS & LIABILITIES, NET		(763,000,063	)		(13.2	)
		NET ASSETS	$	5,798,598,851			100.0	%

g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933, as amended. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 9/30/20, the aggregate value of these securities, including those in “Other,” is $1,302,887,495 or 22.5% of net assets.
k	Principal amount for interest accrual purposes is periodically adjusted based on changes in the Consumer Price Index.

“Other” securities represent the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent 1% or less of net assets.

For ease of presentation, a number of classification categories have been grouped together in the Summary portfolio of investments. Note that the Fund uses more specific categories in following its investment limitations on investment concentrations.

Forward foreign currency contracts outstanding as of September 30, 2020 were as follows:

Currency to be purchased	Receive	Currency to be sold	Deliver	Counterparty	Settlement date		Unrealized appreciation (depreciation		)
$	2,904,040	EUR	2,471,223	BANK OF AMERICA, N.A.		11/30/20	$	2,998

Abbreviation(s):

EUR Euro

40 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements

Summary portfolio of investments (unaudited)

Core Plus Bond Fund  ■  September 30, 2020

Principal		Issuer	Value		% of net assets
BANK LOAN OBLIGATIONS
AUTOMOBILES & COMPONENTS			$	2,877,247		0.0	%
CAPITAL GOODS				3,869,955		0.1
COMMERCIAL & PROFESSIONAL SERVICES				15,318,896		0.3
CONSUMER DURABLES & APPAREL				491,192		0.0
CONSUMER SERVICES				8,427,440		0.2
DIVERSIFIED FINANCIALS				728,725		0.0
ENERGY				1,463,902		0.0
FOOD, BEVERAGE & TOBACCO				575,358		0.0
HEALTH CARE EQUIPMENT & SERVICES				9,866,692		0.2
INSURANCE				5,724,239		0.1
MATERIALS				9,717,373		0.2
MEDIA & ENTERTAINMENT				10,020,122		0.2
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES				4,958,989		0.1
REAL ESTATE				1,205,023		0.0
RETAILING				6,163,568		0.1
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT				664,091		0.0
SOFTWARE & SERVICES				3,116,714		0.1
TECHNOLOGY HARDWARE & EQUIPMENT				4,663,830		0.1
TELECOMMUNICATION SERVICES				4,682,392		0.1
TRANSPORTATION				5,126,981		0.1
UTILITIES				5,229,689		0.1
		TOTAL BANK LOAN OBLIGATIONS (Cost $108,135,729)		104,892,418		2.0
BONDS
CORPORATE BONDS
AUTOMOBILES & COMPONENTS				38,819,123		0.7
BANKS
$	20,250,000	Bank of America Corp 2.496%, 02/13/31		21,108,376		0.4
	56,519,000	0.981%–6.300%, 08/01/25–09/17/69		61,074,069		1.2
	62,265,000	Citigroup, Inc 1.678%–6.300%, 05/15/24–03/12/69		67,213,156		1.3
	13,880,000	JPMorgan Chase & Co 3.702%, 05/06/30		15,920,056		0.3
	23,900,000	Wells Fargo Bank NA 2.082%, 09/09/22		24,238,424		0.5
		Other		228,088,605		4.2
				417,642,686		7.9
CAPITAL GOODS				53,384,112		1.0
COMMERCIAL & PROFESSIONAL SERVICES				40,962,247		0.8
CONSUMER DURABLES & APPAREL				6,810,793		0.1
CONSUMER SERVICES				38,619,589		0.7

Principal		Issuer	Value		% of net assets
DIVERSIFIED FINANCIALS			$	257,296,816		4.8	%
ENERGY				185,661,589		3.5
FOOD & STAPLES RETAILING				26,204,258		0.5
FOOD, BEVERAGE & TOBACCO				79,068,061		1.4
HEALTH CARE EQUIPMENT & SERVICES				109,498,238		2.1
HOUSEHOLD & PERSONAL PRODUCTS				3,440,221		0.1
INSURANCE				65,869,399		1.3
MATERIALS				102,341,760		1.9
MEDIA & ENTERTAINMENT
	$43,555,000	Comcast Corp 1.500%–6.400%, 04/15/24–08/15/52		48,059,720		0.9
		Other		95,716,867		1.8
				143,776,587		2.7
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES				89,412,973		1.7
REAL ESTATE				84,148,038		1.6
RETAILING				36,096,950		0.6
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT				26,823,367		0.5
SOFTWARE & SERVICES				49,011,968		1.0
TECHNOLOGY HARDWARE & EQUIPMENT				42,625,070		0.7
TELECOMMUNICATION SERVICES
	40,937,000	AT&T, Inc 3.300%–4.500%, 01/15/26–09/15/59		45,261,792		0.9
		Other		79,743,835		1.5
				125,005,627		2.4
TRANSPORTATION				50,399,646		1.0
UTILITIES				186,150,188		3.5
		TOTAL CORPORATE BONDS (Cost $2,135,701,050)		2,259,069,306		42.5
GOVERNMENT BONDS
AGENCY SECURITIES				2,744,036		0.1
FOREIGN GOVERNMENT BONDS				169,629,187		3.2
MORTGAGE BACKED
	73,234,754	Federal Home Loan Mortgage Corp (FHLMC) 3.000%, 11/01/49		77,901,472		1.5
	18,661,958	Federal Home Loan Mortgage Corp Gold (FGLMC) 3.500%, 08/01/46		20,564,065		0.4
	28,216,512	3.000%, 02/01/47		29,595,365		0.6
	31,233,783	3.500%, 03/01/48		34,149,029		0.6
	18,974,924	4.500%, 08/01/48		20,983,753		0.4
	26,000,000	Federal National Mortgage Association (FNMA) 2.000%, 10/25/35		27,015,625		0.5
	14,021,526	3.000%, 05/01/40		14,715,556		0.3
	30,196,888	3.000%, 11/01/46		31,741,967		0.6
	32,140,430	3.500%, 01/01/47		34,026,893		0.6
	32,208,558	4.000%, 09/01/47		34,483,541		0.7
	18,957,805	3.500%, 01/01/48		20,969,661		0.4
	18,585,099	3.000%, 02/25/48		19,753,463		0.4
	70,000,000	2.500%, 10/01/50		73,476,133		1.4

See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 41

Summary portfolio of investments (unaudited)	continued
Core Plus Bond Fund  ■  September 30, 2020

Principal			Issuer	Value		% of net assets
MORTGAGE BACKED—continued
$	26,000,000		2.000%, 10/25/50	$	26,877,500		0.5	%
	54,000,000		2.000%, 11/25/50		55,689,071		1.1
	70,000,000		2.500%, 11/25/50		73,266,880		1.4
	30,000,000		3.000%, 11/25/50		31,433,203		0.6
	227,649,130		0.000%–9.000%, 10/25/21–08/01/49		238,683,588		4.4
	66,000,000		Government National Mortgage Association (GNMA) 3.000%, 10/20/46		69,104,062		1.3
	44,000,000		2.000%, 10/20/50		45,705,000		0.9
	42,000,000		2.500%, 10/20/50		43,935,938		0.8
			Other		101,308,085		1.9
					1,125,379,850		21.3
MUNICIPAL BONDS					239,431,301		4.5
U.S. TREASURY SECURITIES
	21,860,800	k	United States Treasury Inflation Indexed Bonds 0.125%, 04/15/21		21,954,733		0.4
	90,000,000		United States Treasury Note 1.125%, 08/15/40		88,312,500		1.7
	95,407,000		1.250%, 05/15/50		90,413,040		1.7
	18,600,000		1.375%, 08/15/50		18,198,937		0.3
			Other		37,485,399		0.7
					256,364,609		4.8
			TOTAL GOVERNMENT BONDS (Cost $1,748,320,192)		1,793,548,983		33.9
STRUCTURED ASSETS
ASSET BACKED					376,359,047		7.1
OTHER MORTGAGE BACKED
	13,907,213	g,i	BX Commercial Mortgage Trust Series–2019 XL (Class A) 1.072%, 10/15/36		13,903,037		0.3
	20,000,000	g	COMM Mortgage Trust  Series–2012 CR2 (Class A3) 2.841%, 08/15/45		20,467,084		0.4
	69,080,577	g,i	2.972%–5.463%, 03/10/46–05/10/51		69,941,346		1.3
	14,346,000	i	GS Mortgage Securities Corp II Series–2018 GS9 (Class AAB) 3.978%, 03/10/51		16,219,668		0.3
	12,304,000		Morgan Stanley Bank of America Merrill Lynch Trust Series–2015 C20 (Class A4) 3.249%, 02/15/48		13,323,988		0.3
			Other		436,521,809		8.2
					570,376,932		10.8
			TOTAL STRUCTURED ASSETS (Cost $942,732,004)		946,735,979		17.9
			TOTAL BONDS (Cost $4,826,753,275)		4,999,354,268		94.4
Shares			Company
COMMON STOCKS
ENERGY					566,588		0.0
RETAILING					1,108		0.0
			TOTAL COMMON STOCKS (Cost $1,704,219)		567,696		0.0

Shares			Company	Value			% of net assets
PREFERRED STOCKS
BANKS				$	5,338,000			0.1	%
DIVERSIFIED FINANCIALS					3,916,833			0.1
			TOTAL PREFERRED STOCKS (Cost $8,844,409)		9,254,833			0.2
Principal			Issuer
SHORT-TERM INVESTMENTS
GOVERNMENT AGENCY DEBT
$	25,000,000		Federal Agricultural Mortgage Corp (FAMC) 0.080%, 10/21/20		24,999,167			0.5
	17,595,000		Federal Home Loan Bank (FHLB) 0.075%–0.095%, 10/09/20		17,594,765			0.3
	31,000,000		0.095%–0.100%, 10/20/20		30,999,018			0.6
	39,208,000		0.090%–0.095%, 10/28/20		39,206,236			0.7
	45,534,000		0.090%, 10/30/20		45,531,799			0.9
	18,101,000		0.090%, 11/13/20		18,099,487			0.3
	29,420,000		0.090%, 11/23/20		29,416,968			0.5
	20,675,000		0.105%, 12/10/20		20,671,382			0.4
	24,242,000		0.110%, 03/17/21		24,230,754			0.5
	20,000,000		Federal National Mortgage Association (FNMA) 0.200%, 10/16/20		19,999,500			0.4
			Other		36,436,340			0.8
					307,185,416			5.9
REPURCHASE AGREEMENT
	58,155,000	r	Fixed Income Clearing Corp (FICC) 0.070%, 10/01/20		58,155,000			1.1
					58,155,000			1.1
TREASURY DEBT
	15,000,000		United States Cash Management Bill 0.115%, 11/03/20		14,998,724			0.3
	27,995,000		0.093%, 11/17/20		27,991,528			0.5
	33,000,000		0.116%, 12/22/20		32,993,611			0.6
	37,055,000		United States Treasury Bill 0.090%–0.130%, 10/15/20		37,053,811			0.7
	36,080,000		0.103%–0.106%, 10/22/20		36,078,159			0.7
	37,774,000		0.082%–0.083%, 11/05/20		37,770,603			0.7
	43,640,000		0.091%, 12/03/20		43,632,363			0.8
	50,959,000		0.095%–0.115%, 12/31/20		50,945,474			1.0
			Other		12,116,889			0.2
					293,581,162			5.5
			TOTAL SHORT-TERM INVESTMENTS (Cost $658,910,854)		658,921,578			12.5
			TOTAL PORTFOLIO (Cost $5,604,348,486)		5,772,990,793			109.0
			OTHER ASSETS & LIABILITIES, NET		(475,327,099	)		(9.0	)
			NET ASSETS	$	5,297,663,694			100.0	%

42 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements

Summary portfolio of investments (unaudited)	concluded
Core Plus Bond Fund  ■  September 30, 2020

g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933, as amended. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 9/30/20, the aggregate value of these securities, including those in “Other,” is $1,322,608,536 or 25.0% of net assets.
i	Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.
k	Principal amount for interest accrual purposes is periodically adjusted based on changes in the Consumer Price Index.
r	Agreement with Fixed Income Clearing Corporation, 0.070% dated 9/30/20 to be repurchased at $58,155,000 on 10/1/20, collateralized by U.S. Treasury Notes valued at $59,318,106.

“Other” securities represent the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent 1% or less of net assets.

For ease of presentation, a number of classification categories have been grouped together in the Summary portfolio of investments. Note that the Fund uses more specific categories in following its investment limitations on investment concentrations.

Futures contracts outstanding as of September 30, 2020 were as follows:

	Number of long (short		)								Unrealized appreciation
Description	contracts			Expiration date	Notional amount			Value			(depreciation		)
US 5 Year Note (CBT)		(929	)	12/31/20		$(116,918,899	)		$(117,083,031	)		$(164,132	)

Forward foreign currency contracts outstanding as of September 30, 2020 were as follows:

Currency to be purchased	Receive		Currency to be sold	Deliver		Counterparty	Settlement date	Unrealized appreciation (depreciation		)
$		1,564,538	EUR		1,314,970	CITIBANK N.A.	11/18/20		$  21,240

Abbreviation(s):

EUR Euro

See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 43

Summary portfolio of investments(unaudited)

5–15 Year Laddered Tax-Exempt Bond Fund  ■  September 30, 2020

Principal		Issuer	Value		% of net assets
LONG-TERM MUNICIPAL BONDS
ALABAMA
		Lower Alabama Gas District
$	2,900,000	4.000%, 12/01/50	$	3,321,254		1.2	%
		Other		3,289,208		1.1
				6,610,462		2.3
ALASKA
		Borough of Matanuska-Susitna AK
	2,570,000	5.000%, 09/01/25		3,056,090		1.1
		Other		592,710		0.2
				3,648,800		1.3
ARIZONA
		Chandler Industrial Development Authority
	2,000,000	5.000%, 06/01/49		2,308,180		0.8
		Other		470,165		0.2
				2,778,345		1.0
ARKANSAS				2,269,180		0.9
CALIFORNIA
		California Health Facilities Financing Authority
	1,510,000	5.000%, 09/01/33		1,788,187		0.6
		City of Los Angeles Department of Airports
	2,000,000	5.000%, 05/15/27		2,416,100		0.9
		Other		4,257,997		1.6
				8,462,284		3.1
COLORADO
		City & County of Denver CO Airport System Revenue
	1,500,000	5.000%, 11/15/30		1,834,035		0.7
		Other		1,942,295		0.7
				3,776,330		1.4
CONNECTICUT
		City of Bridgeport CT
	1,900,000	5.000%, 06/01/34		2,277,188		0.8
		University of Connecticut
	2,000,000	5.000%, 03/15/28		2,401,980		0.9
		Other		7,496,320		2.7
				12,175,488		4.4
DISTRICT OF COLUMBIA				1,186,463		0.4
FLORIDA
		Escambia County Health Facilities Authority
	3,000,000	5.000%, 08/15/32		3,713,160		1.3
		Miami-Dade County Expressway Authority
	1,375,000	5.000%, 07/01/31		1,651,870		0.6
		Port St. Lucie Community Redevelopment Agency
	2,180,000	5.000%, 01/01/26		2,662,020		1.0
		Other		7,212,156		2.6
				15,239,206		5.5

Principal		Issuer	Value		% of net assets
GEORGIA
		Brookhaven Development Authority
$	1,250,000	5.000%, 07/01/27	$	1,594,400		0.6	%
		Other		8,078,540		2.8
				9,672,940		3.4
GUAM				470,806		0.2
HAWAII
		City & County of Honolulu HI
	1,275,000	5.000%, 09/01/27		1,652,910		0.6
		Other		2,381,350		0.8
				4,034,260		1.4
ILLINOIS
		Chicago Board of Education
	1,500,000	5.000%, 12/01/26		1,685,880		0.6
		Chicago Midway International Airport
	2,000,000	5.000%, 01/01/26		2,370,700		0.9
		City of Chicago IL
	3,250,000	5.000%, 01/01/28		3,512,047		1.3
		City of Chicago IL Wastewater Transmission Revenue
	1,500,000	5.000%, 01/01/22		1,581,480		0.6
		City of Chicago IL, GO
	1,500,000	5.500%, 01/01/35		1,574,970		0.6
		County of Cook IL
	1,750,000	5.000%, 11/15/31		2,075,395		0.7
		Metropolitan Water Reclamation District of
		Greater Chicago
	2,000,000	5.000%, 12/01/30		2,453,260		0.9
		Sales Tax Securitization Corp
	1,500,000	5.000%, 01/01/30		1,799,340		0.6
		State of Illinois
	2,000,000	5.000%, 06/01/28		2,157,100		0.8
		Wheaton College
	2,000,000	0.900%, 10/01/35		2,000,000		0.7
		Other		15,905,118		5.5
				37,115,290		13.2
INDIANA
		City of Whiting IN
	1,365,000	5.000%, 12/01/44		1,668,849		0.6
				1,668,849		0.6
IOWA				598,951		0.2
KENTUCKY
		Kentucky Turnpike Authority
	2,000,000	5.000%, 07/01/26		2,439,840		0.9
		Other		2,962,525		1.0
				5,402,365		1.9
LOUISIANA				4,340,228		1.6
MAINE				412,500		0.2
MARYLAND
		County of Baltimore MD
	2,000,000	4.000%, 01/01/29		2,307,320		0.8
				2,307,320		0.8

44 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements

Summary portfolio of investments(unaudited) continued

5–15 Year Laddered Tax-Exempt Bond Fund  ■  September 30, 2020

Principal		Issuer	Value		% of net assets
MASSACHUSETTS			$	607,650		0.2	%
MICHIGAN
		Michigan Finance Authority
$	2,000,000	5.000%, 04/01/25		2,369,240		0.9
	2,000,000	5.000%, 11/15/28		2,450,400		0.9
	1,650,000	5.000%, 07/01/44		1,787,462		0.6
		State of Michigan Trunk Line Revenue
	1,750,000	5.000%, 11/15/30		2,408,070		0.9
		Other		2,033,166		0.8
				11,048,338		4.1
MINNESOTA				2,613,616		0.9
MISSISSIPPI				5,118,154		1.8
MISSOURI
		St. Louis Municipal Finance Corp
	1,745,000	5.000%, 02/15/26		2,054,214		0.7
		Other		5,031,578		1.7
				7,085,792		2.4
NATIONAL				1,000,000		0.4
NEBRASKA				272,670		0.1
NEVADA				1,185,100		0.4
NEW JERSEY
		New Jersey Economic Development Authority
	3,500,000	5.000%, 11/01/35		4,045,265		1.5
		New Jersey Transportation Trust Fund Authority
	5,000,000	5.000%, 06/15/34		5,766,850		2.1
		Other		4,969,550		1.7
				14,781,665		5.3
NEW YORK
		New York State Dormitory Authority
	1,750,000	5.000%, 07/01/33		2,018,135		0.7
		Port Authority of New York & New Jersey
	1,500,000	5.000%, 07/15/31		1,934,955		0.7
		Other		13,128,403		4.8
				17,081,493		6.2
NORTH CAROLINA
		County of Duplin NC
	1,355,000	5.000%, 04/01/27		1,637,626		0.6
		Other		3,042,479		1.0
				4,680,105		1.6
NORTH DAKOTA				1,058,500		0.4
OHIO
		County of Miami OH
	1,500,000	5.000%, 08/01/32		1,871,805		0.7
		Other		5,020,952		1.8
				6,892,757		2.5

Principal			Issuer	Value		% of net assets
OKLAHOMA
			Oklahoma Development Finance Authority
$	1,500,000		5.250%, 08/15/48	$	1,742,235		0.6	%
			Other		917,505		0.3
					2,659,740		0.9
OREGON
			Oregon State Business Development Commission
	3,000,000	†,g,q	6.500%, 04/01/31		1,945,470		0.7
			Other		2,540,526		1.0
					4,485,996		1.7
PENNSYLVANIA
			Pennsylvania Economic Development Financing Authority
	2,000,000		5.000%, 12/31/25		2,360,700		0.9
			School District of the City of Erie
	1,500,000		5.000%, 04/01/28		1,926,285		0.7
			Other		8,780,649		3.2
					13,067,634		4.8
RHODE ISLAND					1,017,159		0.4
SOUTH CAROLINA					887,746		0.3
SOUTH DAKOTA					565,700		0.2
TENNESSEE
			Metropolitan Nashville Airport Authority
	2,305,000		5.000%, 07/01/35		2,854,028		1.0
			Other		860,828		0.3
					3,714,856		1.3
TEXAS
			City of El Paso TX Airport Revenue
	2,000,000		5.000%, 08/15/28		2,464,740		0.9
			City of Houston TX
	1,970,000		5.000%, 03/01/32		2,436,673		0.9
			City of Houston TX Combined Utility System Revenue
	4,000,000		5.000%, 11/15/29		5,426,800		2.0
			City of Lubbock TX
	1,500,000		5.000%, 02/15/25		1,799,115		0.6
			Texas Municipal Gas Acquisition & Supply Corp III
	1,545,000		5.000%, 12/15/32		1,649,983		0.6
			Texas Private Activity Bond Surface
			Transportation Corp
	2,500,000		5.000%, 12/31/35		3,087,000		1.1
			Other		17,573,618		6.3
					34,437,929		12.4
UTAH					3,004,518		1.1
VIRGIN ISLANDS
			Virgin Islands Public Finance Authority
	2,000,000	g	5.000%, 09/01/25		2,312,780		0.8
	2,500,000	g	5.000%, 09/01/33		2,783,950		1.0
					5,096,730		1.8

See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 45

Summary portfolio of investments (unaudited) concluded

5–15 Year Laddered Tax-Exempt Bond Fund  ■  September 30, 2020

Principal	Issuer	Value		% of net assets
WASHINGTON		$	1,791,990		0.6	%
WEST VIRGINIA			3,717,365		1.3
	TOTAL LONG-TERM MUNICIPAL BONDS (Cost $257,766,661)		270,043,270		97.0
	TOTAL PORTFOLIO (Cost $257,766,661)		270,043,270		97.0
	OTHER ASSETS & LIABILITIES, NET		8,452,855		3.0
	NET ASSETS	$	278,496,125		100.0	%

Abbreviation(s):
GO	General Obligation
†	Security is categorized as Level 3 in the fair value hierarchy.
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933, as amended. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 9/30/20, the aggregate value of these securities, including those in “Other,” is $11,115,011 or 4.0% of net assets.
q	In default

“Other” securities represent the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent 1% or less of net assets.

For ease of presentation, a number of classification categories have been grouped together in the Summary portfolio of investments. Note that the Fund uses more specific categories in following its investment limitations on investment concentrations.

46 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements

Summary portfolio of investments (unaudited)

Green Bond Fund  ■  September 30, 2020

Principal				Issuer	Value		% of net assets
BANK LOAN OBLIGATIONS
UTILITIES
				ExGen Renewables IV LLC
$	425,561	i		4.000%, 11/28/24, LIBOR 3 M + 3.000%	$	424,365		1.0	%
						424,365		1.0
			TOTAL BANK LOAN OBLIGATIONS (Cost $422,452)			424,365		1.0
BONDS
CORPORATE BONDS
	BANKS
				Bank of America Corp
	475,000			2.456%, 10/22/25		500,894		1.2
				Citigroup, Inc
	500,000			1.678%, 05/15/24		512,175		1.2
				HSBC Holdings plc
	500,000			3.033%, 11/22/23		521,535		1.2
				ING Groep NV
	450,000	g		1.400%, 07/01/26		455,033		1.1
				Other		1,244,448		2.9
						3,234,085		7.6
CAPITAL GOODS
				Xylem, Inc
	375,000			1.950%–2.250%, 01/30/28–01/30/31		393,217		1.0
				Other		519,915		1.2
						913,132		2.2
CONSUMER SERVICES						528,250		1.3
DIVERSIFIED FINANCIALS						250,074		0.6
FOOD & STAPLES RETAILING						252,006		0.6
FOOD, BEVERAGE & TOBACCO						268,078		0.6
HEALTH CARE EQUIPMENT & SERVICES
				Kaiser Foundation Hospitals
	400,000			3.150%, 05/01/27		447,832		1.1
						447,832		1.1
MATERIALS
				Inversiones CMPC S.A.
	525,000	g		4.375%, 04/04/27		584,724		1.4
				Other		542,048		1.3
						1,126,772		2.7
MEDIA & ENTERTAINMENT						640,593		1.5
REAL ESTATE
				Alexandria Real Estate Equities, Inc
	500,000			4.000%, 01/15/24		549,794		1.3
				HAT Holdings I LLC
	275,000	g		5.250%, 07/15/24		286,569		0.7
	500,000			3.750%–6.000%, 04/15/25–09/15/30		516,950		1.2
				Other		247,658		0.6
						1,600,971		3.8
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT						273,480		0.6

Principal				Issuer	Value		% of net assets
TECHNOLOGY HARDWARE & EQUIPMENT
				Apple, Inc
$	500,000			3.000%, 06/20/27	$	563,803		1.3	%
						563,803		1.3
UTILITIES
				Avangrid, Inc
	600,000			3.200%, 04/15/25		660,237		1.6
				Azure Power Energy Ltd
	500,000	g		5.500%, 11/03/22		509,366		1.2
				Clearway Energy Operating LLC
	300,000	g		4.750%, 03/15/28		311,250		0.7
				DTE Electric Co
	250,000			4.050%, 05/15/48		314,683		0.7
				Electricite de France S.A.
	250,000	g		3.625%, 10/13/25		279,926		0.7
				Georgia Power Co
	500,000			3.250%, 04/01/26		554,028		1.3
				MidAmerican Energy Co
	600,000			3.650%, 08/01/48		706,953		1.7
				NorthWestern Corp
	250,000			4.176%, 11/15/44		293,259		0.7
				Public Service Co of Colorado
	529,000			3.700%, 06/15/28		617,032		1.5
	250,000			3.200%, 03/01/50		283,709		0.7
				Southwestern Public Service Co
	500,000			3.750%, 06/15/49		588,860		1.4
	500,000			3.150%, 05/01/50		537,919		1.3
				Topaz Solar Farms LLC
	261,520	g		4.875%, 09/30/39		289,120		0.7
				Westar Energy, Inc
	750,000			2.550%, 07/01/26		812,678		1.9
				Other		2,705,883		6.3
						9,464,903		22.4
			TOTAL CORPORATE BONDS (Cost $18,273,043)			19,563,979		46.3
GOVERNMENT BONDS
AGENCY SECURITIES
				Overseas Private Investment Corp (OPIC)
	236,800			3.590%, 06/15/35		279,939		0.7
	736,800			1.790%–3.050%, 10/15/29–06/15/35		805,768		1.9
				United States International Development Finance Corp
	500,000			1.050%–1.630%, 10/15/29–07/15/38		513,093		1.2
						1,598,800		3.8
FOREIGN GOVERNMENT BONDS
				Asian Development Bank
	579,000			1.750%, 08/14/26		618,800		1.5
	250,000			3.125%, 09/26/28		296,711		0.7
				Chile Government International Bond
	250,000			3.500%, 01/25/50		285,000		0.7
				International Bank for Reconstruction & Development
	500,000			2.125%, 03/03/25		537,526		1.3
	500,000			3.125%, 11/20/25		567,278		1.3
				Perusahaan Penerbit SBSN Indonesia III
	300,000	g		3.750%, 03/01/23		318,390		0.7
				Other		1,499,160		3.5
						4,122,865		9.7

See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 47

Summary portfolio of investments(unaudited) concluded

Green Bond Fund  ■  September 30, 2020

Principal				Issuer	Value		% of net assets
MUNICIPAL BONDS
				City of Austin TX Electric Utility Revenue
$	360,000			2.677%, 11/15/25	$	395,579		0.9	%
				City of Cleveland OH Income Tax Revenue
	300,000			3.072%, 10/01/41		303,054		0.7
				Grant County Public Utility District No 2
	600,000			1.544%, 01/01/23		614,442		1.5
				Metropolitan Transportation Authority
	500,000			5.175%, 11/15/49		545,905		1.3
				Mount Shasta Public Financing Authority
	875,000			2.625%–3.000%, 08/01/35–08/01/39		932,114		2.1
				Ohio Air Quality Development Authority
	500,000	g		4.500%, 01/15/48		534,545		1.3
				State of California
	500,000	i		0.937%, 04/01/47, LIBOR 1 M + 0.780%		499,695		1.2
				Warm Springs Reservation Confederated Tribe
	500,000	g		2.800%, 11/01/22		510,035		1.2
				Other		1,091,220		2.6
						5,426,589		12.8
			TOTAL GOVERNMENT BONDS (Cost $10,558,409)			11,148,254		26.3
STRUCTURED ASSETS
ASSET BACKED
				HERO Funding Trust
				Series–2016 3A (Class A2)
	356,339	g		3.910%, 09/20/42		368,147		0.9
				Series–2017 3A (Class A2)
	442,678	g		3.950%, 09/20/48		464,209		1.1
	980,989	g		2.720%–4.460%, 09/20/41–09/20/57		1,013,936		2.4
				Sunrun Atlas Issuer LLC
				Series–2019 2 (Class A)
	491,441	g		3.610%, 02/01/55		514,790		1.2
				Sunrun Callisto Issuer LLC
				Series–2019 1A (Class A)
	446,153	g		3.980%, 06/30/54		457,211		1.1
				Tesla Auto Lease Trust
				Series–2018 B (Class A)
	502,371	g		3.710%, 08/20/21		507,088		1.2
	954,645	g		0.780%–2.200%, 04/20/22–12/20/23		971,593		2.3
				Other		1,100,443		2.6
						5,397,417		12.8
OTHER MORTGAGE BACKED
				COMM Mortgage Trust
				Series–2015 3BP (Class A)
	500,000	g		3.178%, 02/10/35		535,983		1.3
				CPT Mortgage Trust
				Series–2019 CPT (Class A)
	500,000	g		2.865%, 11/13/39		544,260		1.3
				Manhattan West
				Series–2020 1MW (Class B)
	500,000	g,i		2.413%, 09/10/39		511,987		1.2

Principal				Issuer	Value			% of net assets
OTHER MORTGAGE BACKED—continued
				One Bryant Park Trust
				Series–2019 OBP (Class A)
$	500,000	g		2.516%, 09/15/54	$	531,678			1.3	%
				Other		1,023,595			2.3
						3,147,503			7.4
			TOTAL STRUCTURED ASSETS (Cost $8,289,940)			8,544,920			20.2
				TOTAL BONDS (Cost $37,121,392)		39,257,153			92.8
Shares				Company
PREFERRED STOCKS
REAL ESTATE						377,000			0.9
UTILITIES
	20,000	*		Brookfield Infrastructure Partners LP		515,000			1.2
	16,000			Brookfield Renewable Partners LP		420,960			1.0
						935,960			2.2
			TOTAL PREFERRED STOCKS (Cost $1,400,000)			1,312,960			3.1
Principal				Issuer
SHORT-TERM INVESTMENTS
REPURCHASE AGREEMENT
				Fixed Income Clearing Corp (FICC)
$	2,120,000	r		0.070%, 10/01/20		2,120,000			5.0
						2,120,000			5.0
			TOTAL SHORT-TERM INVESTMENTS (Cost $2,120,000)			2,120,000			5.0
			TOTAL PORTFOLIO (Cost $41,063,844)			43,114,478			101.9
				OTHER ASSETS & LIABILITIES, NET		(790,712	)		(1.9	)
				NET ASSETS	$	42,323,766			100.0	%

Abbreviation(s):

LIBOR	London Interbank Offered Rate
M	Month

*	Non-income producing
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933, as amended. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 9/30/20, the aggregate value of these securities, including those in “Other,” is $17,020,297 or 40.2% of net assets.
i	Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.
r	Agreement with Fixed Income Clearing Corporation, 0.070% dated 9/30/20 to be repurchased at $2,120,000 on 10/1/20, collateralized by U.S. Treasury Notes valued at $2,162,494.

“Other” securities represent the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent 1% or less of net assets.

For ease of presentation, a number of classification categories have been grouped together in the Summary portfolio of investments. Note that the Fund uses more specific categories in following its investment limitations on investment concentrations.

48 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements

Summary portfolio of investments (unaudited)

High-Yield Fund  ■  September 30, 2020

Principal				Issuer	Value		% of net assets
BANK LOAN OBLIGATIONS
AUTOMOBILES & COMPONENTS					$	11,208,841		0.3	%
CAPITAL GOODS						21,866,437		0.6
COMMERCIAL & PROFESSIONAL SERVICES						33,466,775		0.9
CONSUMER SERVICES						1,991,250		0.0
ENERGY						12,854,938		0.3
HEALTH CARE EQUIPMENT & SERVICES
				RegionalCare Hospital Partners Holdings, Inc
$	18,648,659	i		3.897%, 11/16/25, LIBOR 1 M + 3.750%		18,089,199		0.5
				Other		17,604,394		0.5
						35,693,593		1.0
HOUSEHOLD & PERSONAL PRODUCTS						9,922,800		0.3
INSURANCE						24,896,708		0.7
MEDIA & ENTERTAINMENT						8,219,817		0.2
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						17,844,310		0.5
REAL ESTATE						4,252,636		0.1
RETAILING						19,014,297		0.5
SOFTWARE & SERVICES						12,542,986		0.3
UTILITIES						3,038,076		0.1
			TOTAL BANK LOAN OBLIGATIONS (Cost $233,207,906)			216,813,464		5.8
BONDS
CORPORATE BONDS
AUTOMOBILES & COMPONENTS
				Gates Global LLC
	22,075,000	g		6.250%, 01/15/26		22,682,063		0.6
				Goodyear Tire & Rubber Co
	25,000,000			9.500%, 05/31/25		27,125,750		0.7
				IHO Verwaltungs GmbH
	19,800,000	g,o		6.375%, 05/15/29		21,087,000		0.6
				Other		94,415,678		2.6
						165,310,491		4.5
CAPITAL GOODS
				H&E Equipment Services, Inc
	15,500,000			5.625%, 09/01/25		16,158,750		0.4
				Other		120,651,936		3.3
						136,810,686		3.7
COMMERCIAL & PROFESSIONAL SERVICES
				Prime Security Services Borrower LLC
	25,075,000	g		5.750%, 04/15/26		26,814,704		0.7
	18,100,000	g		6.250%, 01/15/28		18,326,250		0.5
				Other		125,578,994		3.4
						170,719,948		4.6

Principal			Issuer	Value		% of net assets
CONSUMER DURABLES & APPAREL
			Mattel, Inc
$	18,050,000	g	6.750%, 12/31/25	$	19,042,750		0.5	%
			Other		58,840,635		1.6
					77,883,385		2.1
CONSUMER SERVICES
			Live Nation Entertainment, Inc
	16,425,000	g	6.500%, 05/15/27		17,726,517		0.5
			Other		149,622,977		4.0
					167,349,494		4.5
DIVERSIFIED FINANCIALS
			Ford Motor Credit Co LLC
	25,400,000		4.063%, 11/01/24		25,368,250		0.7
			Other		136,579,012		3.6
					161,947,262		4.3
ENERGY
			Leviathan Bond Ltd
	38,000,000		5.750%–6.750%, 06/30/23–06/30/30		39,237,590		1.0
			Occidental Petroleum Corp
	17,875,000		6.375%, 09/01/28		16,546,888		0.4
	79,235,000		2.700%–8.875%, 02/15/22–09/15/36		75,322,981		1.9
			Targa Resources Partners LP
	39,475,000		4.875%–6.500%, 02/01/25–02/01/31		39,400,154		1.2
			USA Compression Partners LP
	18,000,000		6.875%, 04/01/26		17,842,500		0.5
			Other		369,225,732		9.9
					557,575,845		14.9
FOOD & STAPLES RETAILING					41,191,513		1.1
FOOD, BEVERAGE & TOBACCO
			Kraft Heinz Foods Co
	22,775,000	g	3.875%, 05/15/27		24,259,930		0.7
	17,275,000	g	4.250%, 03/01/31		18,940,316		0.5
			Other		27,707,574		0.7
					70,907,820		1.9
HEALTH CARE EQUIPMENT & SERVICES
			Centene Corp
	15,682,000		4.750%, 01/15/25		16,117,960		0.4
	22,050,000		3.375%, 02/15/30		22,876,875		0.6
			CHS/Community Health Systems, Inc
	40,125,000		6.250%–8.625%, 03/31/23–12/15/27		39,148,300		1.1
			DaVita, Inc
	17,815,000	g	4.625%, 06/01/30		18,285,316		0.5
	18,750,000	g	3.750%, 02/15/31		18,066,562		0.5
			HCA, Inc
	33,350,000		5.375%, 02/01/25		36,518,250		1.0
			Tenet Healthcare Corp
	23,125,000		4.625%, 07/15/24		23,182,813		0.6
	17,050,000	g	6.125%, 10/01/28		16,602,438		0.4
			Other		100,612,205		2.7
					291,410,719		7.8

See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 49

Summary portfolio of investments(unaudited) continued

High-Yield Fund  ■  September 30, 2020

Principal			Issuer	Value		% of net assets
MATERIALS
			Freeport-McMoRan, Inc
$	14,250,000		5.450%, 03/15/43	$	15,821,205		0.4	%
			Nova Chemicals Corp
	30,000,000	g	4.875%, 06/01/24		29,784,750		0.8
			OCI NV
	16,000,000	g	6.625%, 04/15/23		16,544,000		0.4
			Other		236,562,960		6.4
					298,712,915		8.0
MEDIA & ENTERTAINMENT
			CCO Holdings LLC
	19,025,000	g	4.250%, 02/01/31		19,708,023		0.5
			CSC Holdings LLC
	14,250,000	g	7.500%, 04/01/28		15,742,402		0.4
	27,600,000	g	4.625%, 12/01/30		27,730,548		0.7
	23,400,000	g	3.375%, 02/15/31		22,657,050		0.6
			DISH DBS Corp
	17,400,000		7.375%, 07/01/28		17,922,000		0.5
			Sirius XM Radio, Inc
	19,775,000	g	4.125%, 07/01/30		20,265,222		0.5
			Other		207,213,734		5.6
					331,238,979		8.8
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES
			Horizon Pharma USA, Inc
	14,600,000	g	5.500%, 08/01/27		15,494,250		0.4
			VRX Escrow Corp
	15,100,000	g	6.125%, 04/15/25		15,458,625		0.4
			Other		56,866,314		1.6
					87,819,189		2.4
REAL ESTATE					74,250,834		2.1
RETAILING
			PetSmart, Inc
	22,800,000	g	7.125%, 03/15/23		22,999,500		0.6
	21,000,000	g	8.875%, 06/01/25		21,786,450		0.6
			Staples, Inc
	31,700,000	g	10.750%, 04/15/27		25,419,438		0.7
			Other		104,409,196		2.8
					174,614,584		4.7
SOFTWARE & SERVICES
			Refinitiv US Holdings, Inc
	16,475,000	g	6.250%, 05/15/26		17,587,062		0.5
			Other		59,420,021		1.5
					77,007,083		2.0
TECHNOLOGY HARDWARE & EQUIPMENT
			CommScope Technologies LLC
	17,453,000	g	6.000%, 06/15/25		17,689,488		0.5
			Other		49,943,977		1.3
					67,633,465		1.8
TELECOMMUNICATION SERVICES
			Altice France S.A.
	19,150,000	g	7.375%, 05/01/26		20,067,285		0.5
			Avaya, Inc
	16,775,000	g	6.125%, 09/15/28		17,131,469		0.5

Principal				Issuer	Value			% of net assets
TELECOMMUNICATION SERVICES—continued
				CenturyLink, Inc
$	17,300,000			5.800%, 03/15/22	$	17,905,500			0.5	%
	16,400,000			7.500%, 04/01/24		18,361,440			0.5
				Front Range BidCo, Inc
	16,600,000	g		4.000%, 03/01/27		16,338,135			0.4
				T-Mobile USA, Inc
	22,000,000			5.125%, 04/15/25		22,481,140			0.6
				Other		108,303,543			2.9
						220,588,512			5.9
TRANSPORTATION
				Delta Air Lines, Inc
	14,206,000	g		7.000%, 05/01/25		15,595,631			0.4
				Mileage Plus Holdings LLC
	19,450,000	g		6.500%, 06/20/27		20,252,312			0.5
				Other		24,452,743			0.7
						60,300,686			1.6
UTILITIES
				Calpine Corp
	17,125,000	g		5.250%, 06/01/26		17,811,199			0.5
				Pacific Gas and Electric Co
	30,950,000			3.500%, 08/01/50		27,881,428			0.7
				Other		66,076,927			1.8
						111,769,554			3.0
			TOTAL CORPORATE BONDS (Cost $3,317,693,995)			3,345,042,964			89.7
			TOTAL BONDS (Cost $3,317,693,995)			3,345,042,964			89.7
Shares				Company
COMMON STOCKS
ENERGY						3,798,490			0.1
			TOTAL COMMON STOCKS (Cost $10,719,600)			3,798,490			0.1
	Principal			Issuer
SHORT-TERM INVESTMENTS
GOVERNMENT AGENCY DEBT
$	48,619,000			Federal Home Loan Bank (FHLB)0.075%, 10/23/20		48,617,217			1.2
						48,617,217			1.2
TREASURY DEBT
				United States Cash Management Bill
	74,273,000			0.065%–0.070%, 10/13/20		74,271,298			2.0
	55,285,000			0.115%, 11/03/20		55,280,297			1.5
						129,551,595			3.5
			TOTAL SHORT-TERM INVESTMENTS (Cost $178,167,272)			178,168,812			4.7
			TOTAL PORTFOLIO (Cost $3,739,788,773)			3,743,823,730			100.3
			OTHER ASSETS & LIABILITIES, NET			(12,513,486	)		(0.3	)
			NET ASSETS		$	3,731,310,244			100.0	%

50 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements

Summary portfolio of investments(unaudited) concluded

High-Yield Fund  ■  September 30, 2020

Abbreviation(s):

LIBOR	London Interbank Offered Rate
M	Month

g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933, as amended. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 9/30/20, the aggregate value of these securities, including those in “Other,” is $2,112,529,797 or 56.6% of net assets.
i	Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.
o	Payment in Kind Bond.

“Other” securities represent the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent 1% or less of net assets.

For ease of presentation, a number of classification categories have been grouped together in the Summary portfolio of investments. Note that the Fund uses more specific categories in following its investment limitations on investment concentrations.

See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 51

Portfolio of investments (unaudited)

Inflation-Linked Bond Fund  ■  September 30, 2020

Principal			Issuer	Value		% of net assets
BONDS
GOVERNMENT BONDS
AGENCY SECURITIES
			Crowley Conro LLC
$	3,931,358		4.181%, 08/15/43	$	4,706,124		0.2	%
			HNA LLC
	1,877,980		2.369%, 09/18/27		1,988,648		0.1
			Montefiore Medical Center
	9,245,000		2.895%, 04/20/32		10,024,074		0.3
			Private Export Funding Corp (PEFCO)
	3,000,000		3.250%, 06/15/25		3,352,378		0.1
			Reliance Industries Ltd
	3,618,421		2.444%, 01/15/26		3,800,964		0.1
			Ukraine Government AID International Bonds
	15,000,000		1.471%, 09/29/21		15,186,680		0.4
					39,058,868		1.2
MORTGAGE BACKED
			Federal Home Loan Bank (FHLB)
	8,000,000		0.375%, 09/04/25		7,997,142		0.2
			Government National Mortgage Association (GNMA)
	11,062,224		3.600%, 09/15/31		12,244,827		0.4
	5,538,955		3.700%, 10/15/33		6,115,540		0.2
	724,335		2.490%, 06/15/35		767,200		0.0
	1,599,518		3.380%, 07/15/35		1,747,423		0.1
	1,505,961		3.870%, 10/15/36		1,675,769		0.1
	5,456,707		3.940%, 03/15/37		6,138,226		0.2
	20,295,401		1.730%, 07/15/37		20,878,846		0.6
	22,765,044		4.250%, 09/15/38		24,717,299		0.7
	13,744,711		2.750%, 01/15/45		14,964,144		0.4
					97,246,416		2.9
U.S. TREASURY SECURITIES
			United States Treasury Inflation Indexed Bonds
	131,640,435	k	0.125%, 01/15/22		133,710,173		4.0
	115,869,306	k	0.125%, 04/15/22		117,903,807		3.5
	130,270,773	k	0.125%, 07/15/22		133,624,228		4.0
	136,941,095	k	0.125%, 01/15/23		141,089,447		4.2
	128,281,620	k	0.625%, 04/15/23		134,154,513		4.0
	140,817,270	k	0.375%, 07/15/23		147,679,362		4.4
	133,253,405	k	0.625%, 01/15/24		141,579,141		4.2
	105,689,628	k	0.500%, 04/15/24		112,193,394		3.3
	120,808,645	k	0.125%, 07/15/24		127,776,377		3.8
	98,446,725	k	0.125%, 10/15/24		104,476,587		3.1
	134,323,878	k	0.250%, 01/15/25		143,266,560		4.3
	104,935,593	k	2.375%, 01/15/25		121,784,724		3.6
	15,043,950	k	0.125%, 04/15/25		16,007,507		0.5
	75,567,462	k	0.375%, 07/15/25		82,018,738		2.3
	118,603,934	k	0.625%, 01/15/26		130,705,242		3.9
	64,074,555	k	2.000%, 01/15/26		75,461,554		2.3
	95,246,498	k	0.125%, 07/15/26		103,247,576		3.1
	110,729,430	k	0.375%, 01/15/27		121,799,490		3.6
	45,292,427	k	2.375%, 01/15/27		55,834,416		1.7
	86,914,592	k	0.375%, 07/15/27		96,583,841		2.9
	137,686,464	k	0.500%, 01/15/28		154,450,866		4.6
	68,037,318	k	1.750%, 01/15/28		82,833,663		2.5
	52,597,898	k	3.625%, 04/15/28		72,087,885		2.2
	67,979,816	k	0.750%, 07/15/28		78,281,237		2.3
	104,032,344	k	0.875%, 01/15/29		121,113,697		3.6
	41,368,281	k	2.500%, 01/15/29		54,011,462		1.6
	117,499,358	k	3.875%, 04/15/29		168,838,774		5.0

Principal			Issuer	Value		% of net assets
U.S. TREASURY SECURITIES–continued
$	76,969,760	k	0.250%, 07/15/29	$	86,049,786		2.6	%
	25,172,250	k	0.125%, 01/15/30		27,798,293		0.8
	54,564,830	k	0.125%, 07/15/30		60,623,089		1.8
	35,757,260	k	3.375%, 04/15/32		54,214,850		1.6
					3,201,200,279		95.3
		TOTAL GOVERNMENT BONDS (Cost $3,069,412,471)			3,337,505,563		99.4
		TOTAL BONDS (Cost $3,069,412,471)			3,337,505,563		99.4
SHORT-TERM INVESTMENTS
GOVERNMENT AGENCY DEBT
			Federal Home Loan Bank (FHLB)
	7,855,000		0.090%, 10/30/20		7,854,620		0.2
					7,854,620		0.2
REPURCHASE AGREEMENT
			Fixed Income Clearing Corp (FICC)
	9,270,000	r	0.070%, 10/01/20		9,270,000		0.3
					9,270,000		0.3
		TOTAL SHORT-TERM INVESTMENTS (Cost $17,124,430)			17,124,620		0.5
		TOTAL PORTFOLIO (Cost $3,086,536,901)			3,354,630,183		99.9
		OTHER ASSETS & LIABILITIES, NET			1,840,111		0.1
		NET ASSETS		$	3,356,470,294		100.0	%

k	Principal amount for interest accrual purposes is periodically adjusted based on changes in the Consumer Price Index.
r	Agreement with Fixed Income Clearing Corporation, 0.070% dated 9/30/20 to be repurchased at $9,270,000 on 10/1/20, collateralized by U.S. Treasury Notes valued at $9,455,487.

“Other” securities represent the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent 1% or less of net assets.

For ease of presentation, a number of classification categories have been grouped together in the Summary portfolio of investments. Note that the Fund uses more specific categories in following its investment limitations on investment concentrations.

52 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements

Summary portfolio of investments (unaudited)

Short Duration Impact Bond Fund  ■  September 30, 2020

Principal			Issuer	Value		% of net assets
BANK LOAN OBLIGATIONS
UTILITIES
			ExGen Renewables IV LLC
$	425,561	i	4.000%, 11/28/24, LIBOR 3 M + 3.000%	$	424,366		1.4	%
					424,366		1.4
		TOTAL BANK LOAN OBLIGATIONS (Cost $422,452)			424,366		1.4
BONDS
CORPORATE BONDS
AUTOMOBILES & COMPONENTS
			Harley-Davidson Financial Services, Inc
	250,000	g	4.050%, 02/04/22		258,351		0.8
					258,351		0.8
BANKS
			BNP Paribas S.A.
	250,000	g	2.219%, 06/09/26		257,817		0.8
			HSBC Holdings plc
	500,000		3.033%, 11/22/23		521,536		1.7
			ING Groep NV
	450,000	g	1.400%, 07/01/26		455,033		1.5
			Lloyds Banking Group plc
	250,000		4.500%, 11/04/24		272,911		0.9
			M&T Bank Corp
	500,000	i	0.925%, 07/26/23, LIBOR 3 M + 0.680%		504,149		1.6
			UniCredit S.p.A
	350,000	g	2.569%, 09/22/26		345,690		1.1
			USAA Capital Corp
	400,000	g	1.500%, 05/01/23		410,172		1.3
			Other		1,017,703		3.2
					3,785,011		12.1
CAPITAL GOODS
			CNH Industrial Capital LLC
	500,000		4.200%, 01/15/24		537,135		1.7
			Other		254,824		0.8
					791,959		2.5
CONSUMER SERVICES
			Nature Conservancy
	260,000	i	1.331%, 02/01/24, LIBOR 3 M + 1.080%		258,141		0.8
					258,141		0.8
DIVERSIFIED FINANCIALS
			NongHyup Bank
	260,000	g	1.250%, 07/20/25		262,244		0.9
			UBS Group AG.
	350,000	g	1.008%, 07/30/24		350,765		1.1
			Other		939,178		3.0
					1,552,187		5.0
ENERGY
			Aker BP ASA
	500,000	g	2.875%, 01/15/26		495,056		1.6
			Other		415,410		1.3
					910,466		2.9

Principal			Issuer	Value		% of net assets
INSURANCE
			Prudential Financial, Inc
$	250,000		1.500%, 03/10/26	$	260,369		0.8	%
					260,369		0.8
MATERIALS
			DuPont de Nemours, Inc
	275,000		2.169%, 05/01/23		277,559		0.9
					277,559		0.9
MEDIA & ENTERTAINMENT
			Mosaic Solar Loan Trust Series 0-2020 2A (Class A)
	500,000	g	1.440%, 08/20/46		496,234		1.6
			Other		374,895		1.2
					871,129		2.8
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES
			AbbVie, Inc
	500,000	g,i	0.897%, 11/21/22, LIBOR 3 M + 0.650%		502,294		1.6
					502,294		1.6
REAL ESTATE
			Alexandria Real Estate Equities, Inc
	500,000		4.000%, 01/15/24		549,794		1.8
			Other		104,207		0.3
					654,001		2.1
SOFTWARE & SERVICES
			Microsoft Corp
	500,000		2.400%, 02/06/22		513,843		1.6
					513,843		1.6
TRANSPORTATION
			Delta Air Lines, Inc
	250,000		7.375%, 01/15/26		262,032		0.8
	300,000		2.500%, 06/10/28		269,450		0.9
			Other		241,546		0.8
					773,028		2.5
UTILITIES
			Avangrid, Inc
	300,000		3.200%, 04/15/25		330,119		1.1
			Eversource Energy
	300,000		0.800%, 08/15/25		298,432		1.0
			Hanwha Energy USA Holdings Corp
	250,000	g	2.375%, 07/30/22		256,946		0.8
			Korea Hydro & Nuclear Power Co Ltd
	300,000	g	3.750%, 07/25/23		325,224		1.0
			National Fuel Gas Co
	250,000		4.900%, 12/01/21		258,818		0.8
	300,000		5.500%, 01/15/26		327,419		1.1
			Other		254,683		0.8
					2,051,641		6.6
			TOTAL CORPORATE BONDS (Cost $13,153,497)		13,459,979		43.0

See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 53

Summary portfolio of investments(unaudited)	concluded
Short Duration Impact Bond Fund  ■  September 30, 2020

Principal			Issuer	Value		% of net assets
GOVERNMENT BONDS
AGENCY SECURITIES
			Federal Home Loan Mortgage Corp (FHLMC)
$	250,000		1.500%, 02/12/25	$	262,066		0.8	%
			NCUA Guaranteed Notes
	500,000		3.450%, 06/12/21		508,344		1.6
			Overseas Private Investment Corp (OPIC)
	250,000		1.790%, 10/15/29		263,644		0.9
			US Department of Housing and Urban Development (HUD)
	250,000		2.618%, 08/01/23		265,978		0.9
			Other		732,824		2.3
					2,032,856		6.5
FOREIGN GOVERNMENT BONDS
			European Stability Mechanism
	500,000	g	1.375%, 09/11/24		519,331		1.7
			International Development Association
	500,000	g	2.750%, 04/24/23		531,026		1.7
			Nederlandse Waterschapsbank NV
	250,000	g	1.750%, 01/15/25		263,510		0.8
			Perusahaan Penerbit SBSN Indonesia III
	500,000	g	3.750%, 03/01/23		530,650		1.7
			Other		986,752		3.2
					2,831,269		9.1
MORTGAGE BACKED
			Federal National Mortgage Association (FNMA)
	500,000		0.250%, 07/10/23		499,841		1.6
					499,841		1.6
MUNICIPAL BONDS
			Sustainable Energy Utility, Inc
	425,000		1.550%, 09/15/21		426,148		1.4
			Warm Springs Reservation Confederated Tribe
	450,000		2.550%–3.050%, 11/01/20–11/01/24		458,993		1.5
			Other		980,524		3.1
					1,865,665		6.0
U.S. TREASURY SECURITIES
			United States Treasury Note
	400,000		2.500%, 01/31/21		403,094		1.3
	285,000		1.625%, 12/31/21		290,210		0.9
	860,000		0.125%, 06/30/22		859,799		2.8
	910,000		0.125%, 08/31/22		909,751		2.9
	285,000		0.125%, 09/15/23		284,733		0.9
	1,500,000		2.625%, 12/31/23		1,618,711		5.2
			Other		298,260		0.9
					4,664,558		14.9
		TOTAL GOVERNMENT BONDS (Cost $11,582,010)			11,894,189		38.1
STRUCTURED ASSETS
ASSET BACKED
			HERO Funding Trust Series–2016 3A (Class A2)
	356,339	g	3.910%, 09/20/42		368,147		1.2

Principal			Issuer	Value		% of net assets
ASSET BACKED–continued
$	463,777	g	2.720%–4.050%, 09/20/41–09/20/57	$	472,632		1.5	%
			Sunrun Atlas Issuer LLC
			Series–2019 2 (Class A)
	491,441	g	3.610%, 02/01/55		514,790		1.6
			Sunrun Callisto Issuer LLC
			Series–2019 1A (Class A)
	446,153	g	3.980%, 06/30/54		457,211		1.5
			Tesla Auto Lease Trust
			Series–2019 A (Class A4)
	250,000	g	2.200%, 11/21/22		256,941		0.8
			Other		910,522		2.9
					2,980,243		9.5
OTHER MORTGAGE BACKED
			GRACE Mortgage Trust
			Series–2014 GRCE (Class A)
	275,000	g	3.369%, 06/10/28		276,672		0.9
			Natixis Commercial Mortgage Securities Trust
	500,000	g,i	1.652%–4.402%, 07/15/36–07/15/36		477,769		1.5
			Other		1,177,550		3.8
					1,931,991		6.2
		TOTAL STRUCTURED ASSETS (Cost $4,894,764)			4,912,234		15.7
		TOTAL BONDS (Cost $29,630,271)			30,266,402		96.8
SHORT-TERM INVESTMENTS
REPURCHASE AGREEMENT
			Fixed Income Clearing Corp (FICC)
	535,000	r	0.070%, 10/01/20		535,000		1.7
					535,000		1.7
		TOTAL SHORT-TERM INVESTMENTS (Cost $535,000)			535,000		1.7
		TOTAL PORTFOLIO (Cost $30,587,723)			31,225,768		99.9
		OTHER ASSETS & LIABILITIES, NET			29,447		0.1
		NET ASSETS		$	31,255,215		100.0	%

Abbreviation(s):

LIBOR	London Interbank Offered Rate
M	Month
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933, as amended. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 9/30/20, the aggregate value of these securities, including those in “Other,” is $13,343,208 or 42.7% of net assets.
i	Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.
r	Agreement with Fixed Income Clearing Corporation, 0.070% dated 9/30/20 to be repurchased at $535,000 on 10/1/20, collateralized by U.S. Treasury Notes valued at $545,718.

“Other” securities represent the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent 1% or less of net assets.

For ease of presentation, a number of classification categories have been grouped together in the Summary portfolio of investments. Note that the Fund uses more specific categories in following its investment limitations on investment concentrations.

54 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements

Summary portfolio of investments (unaudited)

Short-Term Bond Fund  ■  September 30, 2020

Principal			Issuer	Value		% of net assets
BANK LOAN OBLIGATIONS
CAPITAL GOODS				$	1,999,510		0.1	%
COMMERCIAL & PROFESSIONAL SERVICES					355,130		0.0
CONSUMER SERVICES					4,774,668		0.2
DIVERSIFIED FINANCIALS					1,479,945		0.1
HEALTH CARE EQUIPMENT & SERVICES					1,575,457		0.1
MATERIALS					1,774,985		0.1
MEDIA & ENTERTAINMENT					7,543,000		0.4
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES					2,928,570		0.1
SOFTWARE & SERVICES					3,813,317		0.2
TECHNOLOGY HARDWARE & EQUIPMENT					4,297,978		0.2
TELECOMMUNICATION SERVICES					995,984		0.1
TRANSPORTATION					3,002,929		0.1
UTILITIES					559,603		0.0
		TOTAL BANK LOAN OBLIGATIONS (Cost $36,302,823)			35,101,076		1.7
BONDS
CORPORATE BONDS
BANKS
			Bank of America Corp
$	10,000,000		2.328%, 10/01/21		10,000,000		0.5
	10,000,000		3.550%, 03/05/24		10,651,470		0.5
	10,000,000		1.486%, 05/19/24		10,171,183		0.5
			Citigroup, Inc
	9,000,000		2.876%, 07/24/23		9,338,414		0.5
	15,000,000		1.678%, 05/15/24		15,365,240		0.7
			Dexia Credit Local S.A.
	10,000,000	g	2.875%, 01/29/22		10,321,507		0.5
			HSBC Bank Canada
	16,000,000	g	1.650%, 09/10/22		16,374,369		0.8
			JPMorgan Chase & Co
	10,000,000		2.776%, 04/25/23		10,341,007		0.5
	12,000,000		1.514%, 06/01/24		12,259,579		0.6
			Other		157,328,074		7.5
					262,150,843		12.6
CAPITAL GOODS					23,059,497		1.1
COMMERCIAL & PROFESSIONAL SERVICES					2,096,250		0.1
CONSUMER DURABLES & APPAREL					3,228,000		0.2
CONSUMER SERVICES					2,132,220		0.1
DIVERSIFIED FINANCIALS
			Federation des Caisses Desjardins du Quebec
	16,800,000	g	1.950%, 09/26/22		17,310,136		0.8
			Other		113,994,619		5.6
					131,304,755		6.4
ENERGY					42,711,914		2.0
FOOD & STAPLES RETAILING					7,226,581		0.3

Principal			Issuer	Value		% of net assets
FOOD, BEVERAGE & TOBACCO				$	20,597,808		1.0	%
HEALTH CARE EQUIPMENT & SERVICES					11,967,816		0.6
INSURANCE					7,127,294		0.3
MATERIALS					24,938,644		1.2
MEDIA & ENTERTAINMENT					16,290,451		0.8
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES
			AbbVie, Inc
$	18,000,000	g	2.300%, 11/21/22		18,626,220		0.9
			Other		22,042,172		1.0
					40,668,392		1.9
REAL ESTATE					10,367,619		0.5
RETAILING					1,688,874		0.1
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT					5,798,671		0.3
SOFTWARE & SERVICES					10,711,512		0.6
TECHNOLOGY HARDWARE & EQUIPMENT					3,329,943		0.2
TELECOMMUNICATION SERVICES					24,766,419		1.2
TRANSPORTATION					6,332,488		0.4
UTILITIES
			WEC Energy Group, Inc
	12,020,000		0.550%, 09/15/23		12,050,662		0.6
			Xcel Energy, Inc
	13,950,000		0.500%, 10/15/23		13,934,871		0.7
			Other		20,315,843		0.9
					46,301,376		2.2
		TOTAL CORPORATE BONDS (Cost $690,357,985)			704,797,367		34.1
GOVERNMENT BONDS
AGENCY SECURITIES
			Iraq Government AID International Bond
	24,000,000		2.149%, 01/18/22		24,609,747		1.2
			Ukraine Government AID International Bonds
	15,000,000		1.471%, 09/29/21		15,186,680		0.7
			Other		30,885,284		1.5
					70,681,711		3.4
FOREIGN GOVERNMENT BONDS
			CDP Financial, Inc
	10,000,000	g	0.875%, 06/10/25		10,116,736		0.5
			International Development Association
	8,900,000	g	2.750%, 04/24/23		9,452,269		0.5
			Kommunalbanken AS.
	10,000,000	g	0.375%, 09/11/25		9,950,100		0.5
			Landwirtschaftliche Rentenbank
	16,000,000		0.875%, 09/03/30		15,992,160		0.8
			Ontario Teachers’ Finance Trust
	15,000,000	g	1.625%, 09/12/24		15,605,991		0.7
			Other		175,033,449		8.4
					236,150,705		11.4

See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 55

Summary portfolio of investments(unaudited)	continued
Short-Term Bond Fund  ■  September 30, 2020

Principal			Issuer	Value		% of net assets
MORTGAGE BACKED
			Federal Home Loan Mortgage Corp (FHLMC)
$	16,250,000		0.250%, 09/08/23	$	16,260,187		0.8	%
			Federal National Mortgage Association (FNMA)
	15,000,000		0.250%, 07/10/23		14,995,231		0.7
	20,000,000		0.500%, 06/17/25		20,058,311		1.0
	13,000,000		2.000%, 10/25/35		13,507,813		0.7
			Government National Mortgage Association (GNMA)
	20,295,401		1.730%, 07/15/37		20,878,846		1.0
	22,765,044		4.250%, 09/15/38		24,717,299		1.2
			Other		17,504,298		0.8
					127,921,985		6.2
MUNICIPAL BONDS
			City of New York NY
	19,755,000		2.280%, 08/01/25		20,797,669		1.0
			Massachusetts Water Resources Authority
	10,000,000		2.083%, 08/01/25		10,639,400		0.5
			Other		11,620,860		0.6
					43,057,929		2.1
U.S. TREASURY SECURITIES
			United States Treasury Note
	48,010,000		1.750%, 07/31/21		48,647,633		2.3
	59,505,000		1.500%, 09/30/21		60,299,950		2.9
	27,750,000		1.625%, 12/31/21		28,257,305		1.4
	21,290,000		0.125%, 06/30/22		21,285,010		1.0
	100,564,000		0.125%, 09/15/23		100,469,721		4.9
	57,615,000		0.250%, 09/30/25		57,538,480		2.8
	31,000,000		1.875%, 07/31/26		33,704,023		1.6
	20,000,000		0.500%, 05/31/27		20,080,469		1.0
			Other		4,998,633		0.2
					375,281,224		18.1
		TOTAL GOVERNMENT BONDS (Cost $835,868,483)			853,093,554		41.2
STRUCTURED ASSETS
ASSET BACKED
			CF Hippolyta LLC
			Series - 2020 1 (Class A1)
	10,650,000	g	1.690%, 07/15/60		10,768,422		0.5
			Domino’s Pizza Master Issuer LLC
			Series - 2017 1A (Class A2II)
	14,587,500	g	3.082%, 07/25/47		14,617,259		0.7
			Invitation Homes Trust
			Series - 2018 SFR3 (Class A)
	9,188,090	g,i	1.151%, 07/17/37		9,189,544		0.4
			TES LLC
			Series - 2017 1A (Class A)
	9,019,111	g	4.330%, 10/20/47		9,199,166		0.4
			Verizon Owner Trust
			Series - 2018 A (Class B)
	10,905,000		3.380%, 04/20/23		11,309,404		0.5
			Series - 2019 A (Class B)
	9,000,000		3.020%, 09/20/23		9,326,733		0.5
			Series - 2020 B (Class B)
	17,500,000		0.680%, 02/20/25		17,491,469		0.8
			Other		100,186,069		5.0
					182,088,066		8.8

Principal			Issuer	Value			% of net assets
OTHER MORTGAGE BACKED
			Connecticut Avenue Securities
$	25,164,069	g,i	0.898%–3.148%, 05/25/24–01/25/40	$	23,835,972			1.2	%
			Credit Suisse Commercial Mortgage Trust
			Series - 2007 C2 (Class C)
	12,000,000	g,i	5.896%, 01/15/49		14,251,440			0.7
			Sequoia Mortgage Trust
			Series - 2018 3 (Class A4)
	16,111,278	g,i	3.500%, 03/25/48		16,149,760			0.8
			Series - 2020 1 (Class A4)
	10,171,816	g,i	3.500%, 02/25/50		10,308,388			0.5
			Other		181,596,234			8.7
					246,141,794			11.9
		TOTAL STRUCTURED ASSETS (Cost $431,768,841)			428,229,860			20.7
		TOTAL BONDS (Cost $1,957,995,309)			1,986,120,781			96.0
SHORT-TERM INVESTMENTS
GOVERNMENT AGENCY DEBT
			Federal Home Loan Bank (FHLB)
	15,565,000		0.075%–0.100%, 10/14/20		15,564,663			0.7
	14,480,000		0.085%–0.090%, 11/02/20		14,479,099			0.7
	18,612,000		0.105%, 11/04/20		18,610,769			0.9
					48,654,531			2.3
REPURCHASE AGREEMENT					3,680,000			0.2
TREASURY DEBT
			United States Treasury Bill
	10,000,000		0.079%, 11/05/20		9,999,101			0.5
					9,999,101			0.5
		TOTAL SHORT-TERM INVESTMENTS (Cost $62,332,814)			62,333,632			3.0
		TOTAL PORTFOLIO (Cost $2,056,630,946)			2,083,555,489			100.7
		OTHER ASSETS & LIABILITIES, NET			(15,357,952	)		(0.7	)
		NET ASSETS		$	2,068,197,537			100.0	%

g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933, as amended. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 9/30/20, the aggregate value of these securities, including those in “Other,” is $686,593,896 or 33.2% of net assets.
i	Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.

“Other” securities represent the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent 1% or less of net assets.

For ease of presentation, a number of classification categories have been grouped together in the Summary portfolio of investments. Note that the Fund uses more specific categories in following its investment limitations on investment concentrations.

56 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements

Summary portfolio of investments(unaudited) concluded

Short-Term Bond Fund  ■  September 30, 2020

Futures contracts outstanding as of September 30, 2020 were as follows:

	Number of										Unrealized
	long (short		)								appreciation
Description	contracts			Expiration date	Notional amount			Value			(depreciation		)
US Long Bond (CBT)		(40	)	12/21/20	$	(7,037,490	)	$	(7,051,250	)	$	(13,760	)
US 10 Year Note (CBT)		(420	)	12/21/20		(58,357,848	)		(58,603,125	)		(245,277	)
Total		(460	)		$	(65,395,338	)	$	(65,654,375	)	$	(259,037	)

See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 57

Summary portfolio of investments (unaudited)

Short-Term Bond Index Fund  ■  September 30, 2020

Principal		Issuer		Value		% of net assets
BONDS
CORPORATE BONDS
AUTOMOBILES & COMPONENTS				$	478,136	0.1	%
BANKS
$	1,950,000		Bank of America Corp 2.881%, 04/24/23		2,016,450	0.3
			Other		51,691,523	6.1
					53,707,973	6.4
CAPITAL GOODS					12,288,574	1.5
COMMERCIAL & PROFESSIONAL SERVICES					901,374	0.1
CONSUMER DURABLES & APPAREL					750,270	0.0
CONSUMER SERVICES					2,261,648	0.3
DIVERSIFIED FINANCIALS					42,618,872	4.9
ENERGY					13,786,693	1.6
FOOD & STAPLES RETAILING					1,527,735	0.2
FOOD, BEVERAGE & TOBACCO					9,457,282	1.0
HEALTH CARE EQUIPMENT & SERVICES					6,697,945	0.9
HOUSEHOLD & PERSONAL PRODUCTS					1,291,099	0.2
INSURANCE					3,049,795	0.3
MATERIALS					3,110,612	0.3
MEDIA & ENTERTAINMENT					4,013,609	0.5
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES					12,219,860	1.4
REAL ESTATE					3,369,920	0.4
RETAILING					4,854,964	0.6
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT					1,673,820	0.2
SOFTWARE & SERVICES					7,714,607	1.0
TECHNOLOGY HARDWARE & EQUIPMENT					5,491,952	0.7
TELECOMMUNICATION SERVICES					1,193,201	0.1
TRANSPORTATION					4,037,226	0.5
UTILITIES					11,740,223	1.4
		TOTAL CORPORATE BONDS (Cost $204,331,239)			208,237,390	24.5
GOVERNMENT BONDS
AGENCY SECURITIES
			Federal Farm Credit Bank (FFCB)
	2,801,000		0.470%, 01/22/24		2,801,154	0.4
			Federal Home Loan Bank (FHLB)
	3,000,000		3.000%, 10/12/21		3,088,748	0.4
			Federal Home Loan Mortgage Corp (FHLMC)
	2,500,000		2.375%, 01/13/22		2,571,739	0.3
	2,500,000		0.375%, 04/20/23		2,513,045	0.3
			Federal National Mortgage Association (FNMA)
	4,500,000		0.250%, 05/22/23		4,502,912	0.5
			Other		12,740,063	1.5
					28,217,661	3.4

Principal			Issuer		Value		% of net assets
FOREIGN GOVERNMENT BONDS
				Asian Development Bank
$	2,500,000			1.875%, 07/19/22	$	2,573,203	0.3	%
				European Investment Bank
	2,750,000			1.375%, 09/06/22		2,810,687	0.3
	2,707,000			1.375%, 05/15/23		2,787,698	0.3
				International Bank for Reconstruction & Development
	2,000,000			1.625%, 02/10/22		2,037,669	0.2
				Kreditanstalt fuer Wiederaufbau
	2,000,000			1.750%, 08/22/22		2,057,696	0.2
	5,100,000			1.625%, 02/15/23		5,265,957	0.6
				Other		43,452,642	5.2
						60,985,552	7.1
MORTGAGE BACKED						2,900,299	0.3
MUNICIPAL BONDS						284,012	0.0
U.S. TREASURY SECURITIES
				United States Treasury Note
	7,000,000			1.500%, 09/30/21		7,093,516	0.8
	9,000,000			2.875%, 10/15/21		9,254,531	1.1
	12,000,000			1.500%, 10/31/21		12,175,313	1.4
	17,750,000			2.875%, 11/15/21		18,289,434	2.2
	25,200,000			1.500%, 11/30/21		25,591,781	3.0
	14,250,000			2.625%, 12/15/21		14,674,160	1.7
	20,850,000			1.625%, 12/31/21		21,231,164	2.5
	20,900,000			2.500%, 01/15/22		21,534,348	2.5
	2,150,000			1.375%, 01/31/22		2,185,105	0.3
	3,000,000			2.500%, 02/15/22		3,097,031	0.4
	10,000,000			2.375%, 03/15/22		10,325,000	1.2
	4,750,000			0.375%, 03/31/22		4,765,957	0.6
	12,000,000			2.250%, 04/15/22		12,387,656	1.5
	24,000,000			0.125%, 04/30/22		23,997,187	2.8
	18,000,000			2.125%, 05/15/22		18,577,266	2.2
	2,500,000			0.125%, 05/31/22		2,499,414	0.3
	14,000,000			1.750%, 06/15/22		14,382,812	1.7
	18,500,000			0.125%, 06/30/22		18,495,664	2.2
	20,000,000			1.750%, 07/15/22		20,573,438	2.4
	7,800,000			0.125%, 07/31/22		7,798,477	0.9
	13,000,000			1.500%, 08/15/22		13,331,094	1.6
	28,500,000			0.125%, 08/31/22		28,492,207	3.4
	10,000,000			1.500%, 09/15/22		10,266,016	1.2
	15,000,000			0.125%, 09/30/22		14,998,242	1.8
	17,400,000			1.375%, 10/15/22		17,837,039	2.1
	20,000,000			1.625%, 11/15/22		20,625,781	2.4
	23,000,000			1.625%, 12/15/22		23,751,992	2.8
	22,000,000			1.500%, 01/15/23		22,678,906	2.7
	12,000,000			1.375%, 02/15/23		12,347,813	1.5
	21,500,000			0.250%, 04/15/23		21,553,750	2.5
	21,500,000			0.125%, 05/15/23		21,484,883	2.5
	18,000,000			0.250%, 06/15/23		18,045,000	2.1
	17,600,000			0.125%, 07/15/23		17,583,500	2.1
	16,500,000			0.125%, 08/15/23		16,483,242	1.9
	6,000,000			0.125%, 09/15/23		5,994,375	0.7
	5,000,000			0.250%, 08/31/25		4,994,922	0.6
	5,000,000			0.250%, 09/30/25		4,993,359	0.6
				Other		1,059,727	0.1
						545,451,102	64.3
		TOTAL GOVERNMENT BONDS (Cost $627,924,313)				637,838,626	75.1
		TOTAL BONDS (Cost $832,255,572)				846,076,016	99.6

58 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements

Summary portfolio of investments (unaudited) concluded

Short-Term Bond Index Fund  ■  September 30, 2020

Principal			Issuer	Value			% of net assets
SHORT-TERM INVESTMENTS
REPURCHASE AGREEMENT
			Fixed Income Clearing Corp (FICC)
$	7,210,000	r	0.070%, 10/01/20	$	7,210,000		0.8	%
					7,210,000		0.8
		TOTAL SHORT-TERM INVESTMENTS (Cost $7,210,000)			7,210,000		0.8
		TOTAL PORTFOLIO (Cost $839,465,572)			853,286,016		100.4
		OTHER ASSETS & LIABILITIES, NET			(3,797,960	)	(0.4	)
		NET ASSETS		$	849,488,056		100.0	%

r Agreement with Fixed Income Clearing Corporation, 0.070% dated 9/30/20 to be repurchased at $7,210,000 on 10/1/20, collateralized by U.S. Treasury Notes valued at $7,354,275.

“Other” securities represent the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent 1% or less of net assets.

At 9/30/20, the aggregate value of securities exempt from registration under Rule 144(A) of the Securities Act of 1933, as amended, amounted to $4,982,481 or 0.6% of net assets. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers.

For ease of presentation, a number of classification categories have been grouped together in the Summary portfolio of investments. Note that the Fund uses more specific categories in following its investment limitations on investment concentrations.

See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 59

Summary portfolio of investments (unaudited)

Money Market Fund  ■  September 30, 2020

Principal			Issuer	Value		% of net assets
SHORT-TERM INVESTMENTS
GOVERNMENT AGENCY DEBT
			Federal Agricultural Mortgage Corp (FAMC)
$	26,250,000		0.020%, 11/02/20–12/15/20	$	26,236,863	1.3	%
			Federal Home Loan Bank (FHLB)
	50,000,000		0.010%, 10/16/20		49,997,469	2.5
	27,400,000		0.010%, 10/23/20		27,398,242	1.4
	25,000,000		0.010%, 10/26/20		24,997,222	1.2
	29,490,000		0.010%, 11/04/20		29,487,493	1.5
	24,678,000		0.010%, 12/18/20		24,668,699	1.2
	44,001,000		0.010%, 12/28/20		43,991,320	2.2
	20,172,000		0.010%, 02/05/21		20,164,172	1.0
	16,000,000		0.010%, 03/17/21		15,991,836	0.8
	61,734,000		0.010%–0.095%, 10/07/20–01/20/21		61,724,579	3.1
					324,657,895	16.2
TREASURY DEBT
			United States Cash Management Bill
	52,043,000		0.010%, 10/13/20		52,040,902	2.6
	50,227,000		0.010%, 10/27/20		50,223,683	2.5
	68,079,000		0.010%, 11/03/20		68,073,188	3.4
	24,757,000		0.010%, 11/10/20		24,754,491	1.2
	34,449,000		0.010%, 11/17/20		34,443,684	1.7
	21,660,000		0.010%, 11/24/20		21,656,572	1.1
	45,842,000		0.010%, 12/01/20		45,832,161	2.3
	38,527,000		0.010%, 12/08/20		38,519,708	1.9
	53,918,000		0.010%, 12/15/20		53,906,287	2.7
	42,865,000		0.010%, 12/22/20		42,854,454	2.1
	37,454,000		0.010%, 12/29/20		37,442,764	1.9
	32,390,000		0.010%, 01/05/21		32,381,800	1.6
	23,500,000		0.010%, 02/23/21		23,490,933	1.2
			United States Treasury Bill
	20,890,000		0.010%, 10/06/20		20,889,587	1.1
	23,684,000		0.010%, 10/08/20		23,683,353	1.2
	42,867,000		0.010%, 10/15/20		42,864,615	2.1
	22,185,000		0.010%, 10/20/20		22,183,525	1.1
	22,780,000		0.010%, 10/22/20		22,778,498	1.1
	30,019,000		0.010%, 10/29/20		30,015,684	1.5
	55,000,000		0.010%, 11/19/20		54,992,514	2.8
	87,776,000		0.010%, 12/03/20		87,760,528	4.4
	35,949,000		0.010%, 12/10/20		35,941,731	1.8
	33,325,000		0.010%, 12/17/20		33,317,782	1.7
	29,739,000		0.010%, 12/31/20		29,731,538	1.5
	17,080,000		0.010%, 01/14/21		17,075,422	0.9
	20,000,000		0.010%, 03/25/21		19,989,014	1.0
	58,635,000		0.060%, 10/01/20–03/18/21		58,623,826	2.9
			Other		14,995,815	0.8
					1,040,464,059	52.1
VARIABLE RATE SECURITIES
			Federal Agricultural Mortgage Corp (FAMC)
	25,000,000	i	0.130%, 11/09/20, SOFR + 0.060%		25,000,000	1.3
	20,000,000	i	0.186%, 12/21/20, LIBOR 1 M + 0.030%		20,000,000	1.0
	25,000,000	i	0.350%, 03/23/21, SOFR + 0.280%		25,000,000	1.3
	41,250,000	i	0.140%–0.276%, 10/01/20–02/08/21, SOFR + 0.070%–LIBOR 1 M + 0.120%		41,251,545	2.0
			Federal Farm Credit Bank (FFCB)
	22,500,000	i	0.210%, 12/28/20, US Treasury Bill 3 M + 0.110%		22,497,807	1.1
	25,000,000	i	0.360%, 04/23/21, SOFR + 0.290%		25,000,000	1.3
	56,500,000	i	0.110%–0.260%, 01/14/21–08/11/22, SOFR + 0.040%–US Treasury Bill 3 M + 0.160%		56,499,851	2.9

Principal			Issuer	Value			% of net assets
VARIABLE RATE SECURITIES–continued
			Federal Home Loan Bank (FHLB)
$	20,000,000	i	0.190%, 12/11/20, SOFR + 0.120%	$	20,000,000		1.0	%
	20,000,000	i	0.310%, 12/24/20, SOFR + 0.240%		20,000,000		1.0
	25,000,000	i	0.221%, 01/11/21, LIBOR 1 M + 0.070%		25,000,000		1.2
	20,000,000	i	0.350%, 03/25/21, SOFR + 0.280%		20,000,000		1.0
	47,500,000	i	0.300%, 04/13/21, SOFR + 0.230%		47,500,000		2.4
	25,000,000	i	0.170%, 07/09/21, SOFR + 0.100%		25,000,000		1.2
	25,000,000	i	0.190%, 10/13/21, SOFR + 0.120%		25,000,000		1.2
	135,500,000	i	0.075%–0.200%, 10/02/20–05/26/22, SOFR + 0.005%–SOFR + 0.130%		135,500,000		6.8
			Federal Home Loan Mortgage Corp (FHLMC)
	25,000,000	i	0.100%–0.310%, 02/24/21–08/19/22, SOFR + 0.030%–SOFR + 0.240%		25,000,000		1.3
			Federal National Mortgage Association (FNMA)
	20,000,000	i	0.350%, 04/26/21, SOFR + 0.280%		20,000,000		1.0
	44,500,000	i	0.120%–0.390%, 10/30/20–10/22/21, SOFR + 0.050%–SOFR + 0.320%		44,500,000		2.2
			Other		11,999,493		0.6
					634,748,696		31.8
		TOTAL SHORT-TERM INVESTMENTS (Cost $1,999,870,650)			1,999,870,650		100.1
		TOTAL PORTFOLIO (Cost $1,999,870,650)			1,999,870,650		100.1
		OTHER ASSETS & LIABILITIES, NET			(1,077,127	)	(0.1	)
		NET ASSETS		$	1,998,793,523		100.0	%

Abbreviation(s):

LIBOR	London Interbank Offered Rate
M	Month
SOFR	Secure Overnight Financing Rate

i Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.

“Other” securities represent the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent 1% or less of net assets.

For ease of presentation, a number of classification categories have been grouped together in the Summary portfolio of investments. Note that the Fund uses more specific categories in following its investment limitations on investment concentrations.

60 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements

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TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 61

Statements of assets and liabilities (unaudited)

TIAA-CREF Funds  ■  September 30, 2020

		Bond Index Fund		Core Bond Fund		Core Impact Bond Fund		Core Plus Bond Fund		5–15 Year Laddered Tax-Exempt Bond Fund		Green Bond Fund		High-Yield Fund			Inflation-Linked Bond Fund		Short Duration Impact Bond Fund		Short-Term Bond Fund		Short-Term Bond Index Fund		Money Market Fund
ASSETS
Portfolio investments, at value†		$	17,831,326,825	$	8,530,810,986	$	6,561,598,914	$	5,772,990,793	$	270,043,270	$	43,114,478	$	3,743,823,730		$	3,354,630,183	$	31,225,768	$	2,083,555,489	$	853,286,016	$	1,999,870,650
Cash§			131,837		24,849,646		14,085,268		12,477,557		4,964,462		—		465,283			3,824		4,148		1,784,832		1,214		641
Receivable from securities transactions			103,076,390		42,063,322		35,017,958		5,944,013		—		607,479		22,204,129			23,386,655		503,930		157,695		20,804,539		—
Receivable for delayed delivery securities			—		458,042,653		369,746,726		328,808,472		—		—		20,571,339			—		—		—		—		—
Receivable from Fund shares sold			6,589,267		4,359,771		10,788,437		1,632,773		647,758		3,300		2,768,292			3,254,215		19,230		2,050,937		873,175		2,391,724
Dividends and interest receivable			86,137,595		38,991,060		29,940,625		30,407,767		3,137,967		289,292		52,092,746			7,601,506		154,552		7,446,041		3,530,903		192,342
Due from affiliates			590,279		968,073		—		626,758		—		—		191,159			321,200		—		166,727		33,071		160,205
Unrealized appreciation on forward foreign currency contracts			—		45,514		2,998		21,240		—		—		—			—		—		—		—		—
Other			639,914		376,075		104,806		268,913		52,564		527		—			236,172		479		139,861		15,482		—
Total assets			18,028,492,107		9,100,507,100		7,021,285,732		6,153,178,286		278,846,021		44,015,076		3,842,116,678			3,389,433,755		31,908,107		2,095,301,582		878,544,400		2,002,615,562
LIABILITIES
Management fees payable			1,449,919		1,742,272		1,570,066		1,238,995		57,120		13,556		1,084,115			660,928		7,667		417,080		48,672		166,526
Service agreement fees payable			118,729		251,224		336,593		125,493		100		2,231		65,814			68,062		816		66,582		24,712		73,578
Distribution fees payable			11,085		25,100		58,605		65,187		55,600		1,049		60,759			32,417		431		35,862		1,003		104,509
Due to affiliates			71,853		39,161		30,768		32,375		30,129		40,131		28,262			28,153		33,963		23,106		19,186		21,402
Overdraft payable			—		—		—		—		—		108,761		—			—		—		—		—		—
Payable for securities transactions			76,481,632		128,069,519		70,736,382		25,038,414		—		1,152,335		14,000,000			21,382,511		496,234		—		24,065,904		—
Payable for delayed delivery securities			348,755,532		1,319,213,543		1,143,150,133		786,743,178		—		249,748		80,212,313			—		—		18,521,575		749,618		—
Payable for Fund shares redeemed			84,234,761		52,440,923		4,578,759		33,001,864		23,956		2,969		10,734,355			10,359,545		1,382		5,629,774		3,297,973		3,320,553
Income distribution payable			14,020,125		9,584,849		1,959,314		8,557,528		35,799		53,992		4,002,059			—		43,449		1,782,174		772,387		2,622
Payable for variation margin on open futures contracts			—		—		—		161,884		—		—		—			—		—		257,969		—		—
Payable for variation margin on centrally cleared swap contracts			—		74,944		—		—		—		—		—			—		—		—		—		—
Payable for trustee compensation			657,105		398,784		110,091		282,358		52,840		550		285,249			239,705		503		153,314		16,081		2,609
Accrued expenses and other payables			437,009		252,539		156,170		267,316		94,352		65,988		333,508			192,140		68,447		216,609		60,808		130,240
Total liabilities			526,237,750		1,512,092,858		1,222,686,881		855,514,592		349,896		1,691,310		110,806,434			32,963,461		652,892		27,104,045		29,056,344		3,822,039
NET ASSETS		$	17,502,254,357	$	7,588,414,242	$	5,798,598,851	$	5,297,663,694	$	278,496,125	$	42,323,766	$	3,731,310,244		$	3,356,470,294	$	31,255,215	$	2,068,197,537	$	849,488,056	$	1,998,793,523
NET ASSETS CONSIST OF:
Paid-in-capital		$	16,124,908,948	$	7,110,396,152	$	5,481,394,673	$	5,040,827,843	$	265,702,056	$	39,545,963	$	4,034,181,751		$	3,076,827,028	$	30,358,074	$	2,046,645,573	$	833,920,944	$	1,998,752,520
Total distributable earnings (loss)			1,377,345,409		478,018,090		317,204,178		256,835,851		12,794,069		2,777,803		(302,871,507	)		279,643,266		897,141		21,551,964		15,567,112		41,003
NET ASSETS		$	17,502,254,357	$	7,588,414,242	$	5,798,598,851	$	5,297,663,694	$	278,496,125	$	42,323,766	$	3,731,310,244		$	3,356,470,294	$	31,255,215	$	2,068,197,537	$	849,488,056	$	1,998,793,523
†	Portfolio investments, cost	$	16,577,759,612	$	8,180,862,955	$	6,379,806,295	$	5,604,348,486	$	257,766,661	$	41,063,844	$	3,739,788,773		$	3,086,536,901	$	30,587,723	$	2,056,630,946	$	839,465,572	$	1,999,870,650
§	Includes cash collateral for mortgage dollar rolls of	$	—	$	17,350,000	$	9,927,560	$	9,600,000	$	—	$	—	$	—		$	—	$	—	$	—	$	—	$	—

62 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 63

Statements of assets and liabilities (unaudited) concluded

TIAA-CREF Funds  ■  September 30, 2020

	Bond Index Fund		Core Bond Fund		Core Impact Bond Fund		Core Plus Bond Fund		5–15 Year Laddered Tax-Exempt Bond Fund		Green Bond Fund		High-Yield Fund		Inflation-Linked Bond Fund		Short Duration Impact Bond Fund		Short-Term Bond Fund		Short-Term Bond Index Fund		Money Market Fund
INSTITUTIONAL CLASS:
Net assets	$	9,425,395,225	$	2,231,496,452	$	3,703,550,197	$	1,581,086,822	$	6,661,632	$	23,656,996	$	2,594,326,898	$	1,367,812,537	$	23,556,250	$	702,334,668	$	68,905,193	$	1,027,220,971
Outstanding shares of beneficial interest, unlimited shares authorized ($.0001 par value)		808,389,312		201,366,089		336,722,536		143,105,211		614,485		2,148,797		281,820,602		112,176,733		2,282,895		66,967,474		6,772,257		1,027,193,074
Net asset value per share	$	11.66	$	11.08	$	11.00	$	11.05	$	10.84	$	11.01	$	9.21	$	12.19	$	10.32	$	10.49	$	10.17	$	1.00
ADVISOR CLASS:
Net assets	$	25,934,908	$	745,060,458	$	1,260,262,158	$	213,142,800	$	735,286	$	1,219,157	$	6,242,776	$	134,413,697	$	1,083,158	$	184,640,630	$	1,588,433	$	1,167,306
Outstanding shares of beneficial interest, unlimited shares authorized ($.0001 par value)		2,224,080		67,188,281		114,518,109		19,275,383		67,866		110,740		678,732		11,021,699		104,975		17,612,203		156,115		1,167,254
Net asset value per share	$	11.66	$	11.09	$	11.00	$	11.06	$	10.83	$	11.01	$	9.20	$	12.20	$	10.32	$	10.48	$	10.17	$	1.00
PREMIER CLASS:
Net assets	$	28,500,052	$	14,603,905	$	33,891,430	$	9,753,565	$	—	$	1,100,946	$	21,041,615	$	7,993,368	$	1,031,867	$	5,137,814	$	775,686	$	280,718,359
Outstanding shares of beneficial interest, unlimited shares authorized ($.0001 par value)		2,444,592		1,317,137		3,079,803		882,894		—		100,000		2,282,843		656,683		100,000		489,447		76,291		280,709,663
Net asset value per share	$	11.66	$	11.09	$	11.00	$	11.05	$	—	$	11.01	$	9.22	$	12.17	$	10.32	$	10.50	$	10.17	$	1.00
RETIREMENT CLASS:
Net assets	$	561,303,732	$	231,707,316	$	534,432,451	$	434,660,674	$	—	$	11,710,587	$	314,644,973	$	187,638,702	$	4,059,909	$	145,622,391	$	121,769,174	$	360,193,924
Outstanding shares of beneficial interest, unlimited shares authorized ($.0001 par value)		48,119,522		20,530,945		48,579,147		39,292,538		—		1,063,633		34,168,443		15,272,542		393,419		13,869,247		11,968,723		360,184,916
Net asset value per share	$	11.66	$	11.29	$	11.00	$	11.06	$	—	$	11.01	$	9.21	$	12.29	$	10.32	$	10.50	$	10.17	$	1.00
RETAIL CLASS:
Net assets	$	36,629,034	$	112,544,188	$	266,462,615	$	309,763,925	$	271,099,207	$	4,636,080	$	278,525,304	$	152,460,001	$	1,524,031	$	170,928,901	$	4,398,436	$	329,492,963
Outstanding shares of beneficial interest, unlimited shares authorized ($.0001 par value)		3,139,759		9,982,101		24,241,673		27,982,835		24,982,503		421,041		30,121,282		12,833,577		147,697		16,286,209		432,393		329,472,640
Net asset value per share	$	11.67	$	11.27	$	10.99	$	11.07	$	10.85	$	11.01	$	9.25	$	11.88	$	10.32	$	10.50	$	10.17	$	1.00
CLASS W:
Net assets	$	7,424,491,406	$	4,253,001,923	$	—	$	2,749,255,908	$	—	$	—	$	516,528,678	$	1,506,151,989	$	—	$	859,533,133	$	652,051,134	$	—
Outstanding shares of beneficial interest, unlimited shares authorized ($.0001 par value)		636,690,710		383,729,067		—		248,830,742		—		—		56,106,090		123,519,938		—		81,959,437		64,086,195		—
Net asset value per share	$	11.66	$	11.08	$	—	$	11.05	$	—	$	—	$	9.21	$	12.19	$	—	$	10.49	$	10.17	$	—

64 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 65

Statements of operations (unaudited)

TIAA-CREF Funds  ■  For the year ended September 30, 2020

		Bond Index Fund			Core Bond Fund			Core Impact Bond Fund			Core Plus Bond Fund			5–15 Year Laddered Tax-Exempt Bond Fund			Green Bond Fund			High-Yield Fund			Inflation-Linked Bond Fund			Short Duration Impact Bond Fund			Short-Term Bond Fund			Short-Term Bond Index Fund			Money Market Fund
INVESTMENT INCOME
Interest*		$	198,103,839		$	96,854,794		$	65,646,876		$	77,973,421		$	3,488,745		$	572,629		$	100,792,726		$	21,124,362		$	390,815		$	20,597,336		$	6,573,977		$	3,327,148
Dividends			—			—			1,111,141			265,601			—			25,992			1,994,298			—			—			—			—			—
Total income			198,103,839			96,854,794			66,758,017			78,239,022			3,488,745			598,621			102,787,024			21,124,362			390,815			20,597,336			6,573,977			3,327,148
EXPENSES
Management fees			8,550,187			9,958,641			8,948,368			7,051,996			342,515			75,598			6,184,304			4,042,887			45,415			2,388,215			270,953			1,078,502
Shareholder servicing – Institutional Class			3,989			1,386			19,906			1,897			40			25			3,401			1,352			23			646			240			444
Shareholder servicing – Advisor Class			12,094			579,576			452,086			79,952			305			43			2,581			64,613			16			76,707			747			—
Shareholder servicing – Premier Class			36			27			2,088			19			—			12			30			18			12			14			18			4,174
Shareholder servicing – Retirement Class			635,975			282,113			674,048			517,167			—			10,778			389,214			235,689			4,586			163,803			133,060			443,821
Shareholder servicing – Retail Class			10,096			22,889			16,214			94,503			35,640			1,669			61,101			54,554			796			43,501			1,597			139,774
Shareholder servicing – Class W			2,390			1,349			—			966			—			—			355			624			—			329			336			—
Distribution fees – Premier Class			20,512			10,652			24,987			7,226			—			816			15,747			5,319			768			3,957			556			291,322
Distribution fees – Retail Class			42,285			138,357			316,802			386,491			333,983			4,683			350,495			188,294			1,699			216,783			4,846			419,028
Trustee fees and expenses			127,736			52,076			39,124			36,029			2,040			253			25,773			25,643			212			14,117			5,555			16,135
Administrative service fees			113,131			59,133			48,991			48,077			14,342			20,611			40,966			41,645			20,574			32,804			28,110			32,940
Custody and accounting fees			92,062			59,646			35,836			37,642			10,206			9,636			19,287			16,943			10,099			14,111			12,452			29,063
Professional fees			63,844			33,971			24,836			32,039			16,172			20,466			31,976			23,735			21,362			26,726			25,961			20,597
Registration fees			57,633			62,274			77,529			44,929			28,370			17,610			66,327			44,009			17,531			46,662			39,394			63,119
Other expenses			19,887			39,160			282,832			38,019			18,507			18,006			110,341			61,769			25,113			61,788			16,739			98,702
Total expenses			9,751,857			11,301,250			10,963,647			8,376,952			802,120			180,206			7,301,898			4,807,094			148,206			3,090,163			540,564			2,637,621
Less: Expenses reimbursed by the investment adviser			(3,570,318	)		(5,629,676	)		—			(3,688,149	)		(20,179	)		(85,038	)		(857,455	)		(1,613,478	)		(88,148	)		(1,046,203	)		(305,689	)		(681,635	)
Fee waiver by investment adviser and Nuveen Securities§			—			—			—			—			—			—			(260,586	)		(338,476	)		—			—			—			—
Net expenses			6,181,539			5,671,574			10,963,647			4,688,803			781,941			95,168			6,183,857			2,855,140			60,058			2,043,960			234,875			1,955,986
Net investment income (loss)			191,922,300			91,183,220			55,794,370			73,550,219			2,706,804			503,453			96,603,167			18,269,222			330,757			18,553,376			6,339,102			1,371,162
NET REALIZED AND UNREALIZED GAIN (LOSS) ON TOTAL INVESTMENTS
Realized gain (loss):
Portfolio investments**			88,459,387			78,965,818			106,254,310			67,540,229			(330,383	)		621,307			(90,949,074	)		10,126,326			231,604			5,707,346			3,130,564			16,288
Futures contracts			—			17,246			—			424,653			—			—			—			—			—			(1,034,956	)		—			—
Forward foreign currency contracts			—			(460,535	)		(415,711	)		(544,993	)		—			—			—			—			—			—			—			—
Swap contracts			—			2,177,380			—			(390,689	)		—			—			(40,129	)		—			—			—			—			—
Foreign currency transactions			—			91,289			110,783			90,012			—			—			—			—			—			—			—			—
Net realized gain (loss) on total investments			88,459,387			80,791,198			105,949,382			67,119,212			(330,383	)		621,307			(90,989,203	)		10,126,326			231,604			4,672,390			3,130,564			16,288
Change in unrealized appreciation (depreciation) on:
Portfolio investments			275,693,798			294,640,798			174,706,278			226,076,826			9,014,312			1,980,337			428,805,622			170,643,804			1,107,935			43,419,895			166,412			—
Futures contracts			—			(15,514	)		—			(618,967	)		—			—			—			—			—			710,219			—			—
Forward foreign currency contracts			—			81,226			40,755			70,572			—			—			—			—			—			—			—			—
Swap contracts			—			(645,508	)		—			—			—			—			—			—			—			—			—			—
Translation of assets (other than portfolio investments) and liabilities denominated in foreign currencies			—			16,797			(3,342	)		12,748			—			—			—			—			—			—			—			—
Net change in unrealized appreciation (depreciation) on total investments and from affiliated investments			275,693,798			294,077,799			174,743,691			225,541,179			9,014,312			1,980,337			428,805,622			170,643,804			1,107,935			44,130,114			166,412			—
Net realized and unrealized gain (loss)on total investments			364,153,185			374,868,997			280,693,073			292,660,391			8,683,929			2,601,644			337,816,419			180,770,130			1,339,539			48,802,504			3,296,976			16,288
Net increase (decrease) in net assets from operations		$	556,075,485		$	466,052,217		$	336,487,443		$	366,210,610		$	11,390,733		$	3,105,097		$	434,419,586		$	199,039,352		$	1,670,296		$	67,355,880		$	9,636,078		$	1,387,450
*	Net of foreign withholding taxes of	$	(138	)	$	147,039		$	9,747		$	7,960		$	—		$	254		$	—		$	—		$	—		$	(60	)	$	587		$	—
**	Includes net realized gain (loss) from securities sold to affiliates of	$	—		$	—		$	—		$	5,411		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
§	As described in Note 1, TPIS merged into Nuveen Securities, LLC on September 30, 2019.

66 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 67

Statements of changes in net assets

TIAA-CREF Funds  ■  For the period or year ended

			Bond Index Fund						Core Bond Fund						Core Impact Bond Fund						Core Plus Bond Fund						5–15 Year Laddered Tax-Exempt Bond Fund						Green Bond Fund
			September 30,			March 31,			September 30,			March 31,			September 30,			March 31,			September 30,			March 31,			September 30,			March 31,			September 30,			March 31,
			2020			2020			2020			2020			2020			2020			2020			2020			2020			2020			2020			2020
			(unaudited)						(unaudited)						(unaudited)						(unaudited)						(unaudited)						(unaudited)
OPERATIONS
Net investment income (loss)		$	191,922,300		$	426,699,181		$	91,183,220		$	206,216,727		$	55,794,370		$	111,031,689		$	73,550,219		$	151,004,336		$	2,706,804		$	6,079,693		$	503,453		$	941,056
Net realized gain (loss) on total investments			88,459,387			79,162,493			80,791,198			116,527,146			105,949,382			73,921,740			67,119,212			91,375,019			(330,383	)		1,197,718			621,307			252,339
Net change in unrealized appreciation (depreciation) on total investments			275,693,798			896,860,957			294,077,799			9,041,471			174,743,691			(33,488,210	)		225,541,179			(77,991,557	)		9,014,312			(2,288,242	)		1,980,337			(662,145	)
Net increase (decrease) in net assets from operations			556,075,485			1,402,722,631			466,052,217			331,785,344			336,487,443			151,465,219			366,210,610			164,387,798			11,390,733			4,989,169			3,105,097			531,250
DISTRIBUTIONS TO SHAREHOLDERS
	Institutional Class		(107,484,064	)		(265,359,219	)		(24,075,663	)		(46,734,172	)		(36,568,761	)		(91,443,600	)		(21,023,617	)		(41,371,056	)		(68,206	)		(180,158	)		(310,994	)		(890,091	)
	Advisor Class		(231,899	)		(183,950	)		(9,733,136	)		(26,116,084	)		(11,256,676	)		(27,654,075	)		(2,950,301	)		(5,513,588	)		(7,898	)		(15,969	)		(15,600	)		(43,103	)
	Premier Class		(282,865	)		(611,330	)		(160,571	)		(394,913	)		(327,497	)		(1,146,121	)		(128,696	)		(314,466	)		—			—			(14,047	)		(40,562	)
	Retirement Class		(5,004,319	)		(8,297,462	)		(2,439,041	)		(5,393,901	)		(5,076,597	)		(16,708,206	)		(5,312,728	)		(11,714,337	)		—			—			(110,555	)		(149,650	)
	Retail Class		(322,475	)		(562,993	)		(1,176,461	)		(2,740,822	)		(2,366,008	)		(6,418,614	)		(3,883,724	)		(8,036,493	)		(2,632,059	)		(6,518,916	)		(44,901	)		(81,594	)
	Class W		(79,380,013	)		(151,945,788	)		(52,934,707	)		(122,216,339	)		—			—			(39,169,536	)		(81,104,619	)		—			—			—			—
Total distributions			(192,705,635	)		(426,960,742	)		(90,519,579	)		(203,596,231	)		(55,595,539	)		(143,370,616	)		(72,468,602	)		(148,054,559	)		(2,708,163	)		(6,715,043	)		(496,097	)		(1,205,000	)
SHAREHOLDER TRANSACTIONS
Subscriptions:	Institutional Class		1,185,505,835			5,490,275,796			534,705,008			1,301,445,537			726,721,463			1,856,656,914			220,364,357			449,751,913			2,585,522			5,435,806			360,837			380,454
	Advisor Class		11,390,989			18,130,840			73,652,492			186,995,009			384,091,706			683,834,162			15,515,603			51,442,418			10,000			787,190			66,800			59,981
	Premier Class		4,597,042			9,293,152			1,448,772			2,086,674			8,803,897			10,764,178			656,004			4,428,363			—			—			—			—
	Retirement Class		110,461,753			207,108,501			18,893,618			47,033,782			9,028,577			84,616,901			36,029,473			28,148,084			—			—			5,303,076			6,489,787
	Retail Class		10,105,320			11,778,140			7,580,898			15,115,712			57,098,944			104,565,465			12,574,524			21,811,213			7,470,766			26,985,778			2,193,998			2,540,415
	Class W		1,834,359,107			2,292,367,122			858,160,707			1,158,055,113			—			—			527,373,161			526,319,799			—			—			—			—
Reinvestments of distributions:	Institutional Class		104,708,297			261,395,644			19,353,440			36,209,779			28,469,951			70,402,889			11,248,648			21,472,595			66,007			169,400			4,407			4,939
	Advisor Class		230,751			181,359			9,221,734			24,982,508			6,441,798			13,477,226			1,371,320			2,667,923			6,811			13,338			480			278
	Premier Class		282,865			611,330			155,883			389,814			259,617			1,061,755			127,553			310,891			—			—			—			—
	Retirement Class		5,004,014			8,295,590			2,438,713			5,393,098			5,076,062			16,689,375			5,312,714			11,711,291			—			—			96,514			109,270
	Retail Class		311,746			544,816			1,108,545			2,565,717			2,287,668			6,138,611			3,629,429			7,467,554			2,410,819			5,967,218			31,091			40,889
	Class W		—			—			—			—			—			—			—			—			—			—			—			—
Fund reorganization:	Institutional Class		—			—			—			60,267,084			—			—			—			73,135,010			—			—			—			—
	Advisor Class		—			—			—			49,145,762			—			—			—			200,871,633			—			—			—			—
	Retail Class		—			—			—			17,743,335			—			—			—			54,628,226			—			—			—			—
Redemptions:	Institutional Class		(2,138,915,481	)		(2,765,152,186	)		(179,671,264	)		(634,579,619	)		(455,537,605	)		(665,978,746	)		(123,202,287	)		(352,405,136	)		(1,162,276	)		(5,553,151	)		(243,844	)		(30,224	)
	Advisor Class		(3,071,537	)		(2,948,765	)		(293,344,148	)		(304,273,247	)		(115,995,586	)		(321,710,883	)		(28,394,791	)		(77,011,082	)		(268,041	)		(31,079	)		(158	)		(11,130	)
	Premier Class		(2,872,448	)		(6,829,307	)		(1,448,399	)		(3,844,290	)		(7,806,354	)		(18,488,933	)		(1,053,532	)		(6,089,997	)		—			—			—			—
	Retirement Class		(13,649,431	)		(44,889,881	)		(10,645,675	)		(44,219,481	)		(36,046,310	)		(47,197,376	)		(26,266,722	)		(83,387,505	)		—			—			(674,829	)		(1,457,080	)
	Retail Class		(4,085,854	)		(5,627,595	)		(8,512,726	)		(23,281,135	)		(39,737,124	)		(50,543,751	)		(24,010,153	)		(42,086,558	)		(11,695,877	)		(32,891,370	)		(645,448	)		(1,072,003	)
	Class W		(525,439,642	)		(1,244,045,335	)		(424,264,788	)		(1,355,429,151	)		—			—			(193,936,003	)		(637,053,007	)		—			—			—			—
Net increase (decrease) from shareholder transactions			578,923,326			4,230,489,221			608,832,810			541,802,001			573,156,704			1,744,287,787			437,339,298			256,133,628			(576,269	)		883,130			6,492,924			7,055,576
Net increase (decrease) in net assets			942,293,176			5,206,251,110			984,365,448			669,991,114			854,048,608			1,752,382,390			731,081,306			272,466,867			8,106,301			(842,744	)		9,101,924			6,381,826
NET ASSETS
Beginning of period			16,559,961,181			11,353,710,071			6,604,048,794			5,934,057,680			4,944,550,243			3,192,167,853			4,566,582,388			4,294,115,521			270,389,824			271,232,568			33,221,842			26,840,016
End of period		$	17,502,254,357		$	16,559,961,181		$	7,588,414,242		$	6,604,048,794		$	5,798,598,851		$	4,944,550,243		$	5,297,663,694		$	4,566,582,388		$	278,496,125		$	270,389,824		$	42,323,766		$	33,221,842

68 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 69

Statements of changes in net assets	continued
TIAA-CREF Funds  ■  For the period or year ended

		Bond Index Fund				Core Bond Fund				Core Impact Bond Fund				Core Plus Bond Fund				5–15 Year Laddered Tax-Exempt Bond Fund				Green Bond Fund
		September 30,		March 31,		September 30,		March 31,		September 30,		March 31,		September 30,		March 31,		September 30,		March 31,		September 30,		March 31,
		2020		2020		2020		2020		2020		2020		2020		2020		2020		2020		2020		2020
		(unaudited)				(unaudited)				(unaudited)				(unaudited)				(unaudited)				(unaudited)
CHANGE IN FUND SHARES
Shares sold:	Institutional Class	101,769,586		505,684,309		48,769,780		124,501,386		66,779,547		175,262,612		20,201,783		42,342,394		247,281		504,123		32,640		35,374
	Advisor Class	978,506		1,630,998		6,741,040		17,563,405		35,340,515		64,510,714		1,430,910		4,827,676		931		71,964		6,095		5,609
	Premier Class	394,507		840,845		133,124		196,969		811,583		1,012,967		59,830		416,803		—		—		—		—
	Retirement Class	9,478,954		18,643,496		1,696,967		4,314,914		826,289		8,073,731		3,278,323		2,637,017		—		—		485,544		605,385
	Retail Class	865,384		1,051,210		676,342		1,397,774		5,268,582		9,879,563		1,165,076		2,041,882		695,769		2,498,176		201,799		239,009
	Class W	157,415,682		207,099,777		78,241,350		109,382,527		—		—		48,371,718		49,564,623		—		—		—		—
Shares reinvested:	Institutional Class	8,979,045		23,443,172		1,761,203		3,401,988		2,613,402		6,638,919		1,029,485		2,013,996		6,158		15,654		405		467
	Advisor Class	19,768		16,067		839,375		2,350,698		590,937		1,269,271		125,503		249,213		638		1,233		44		26
	Premier Class	24,247		54,849		14,180		36,687		23,832		100,205		11,682		29,190		—		—		—		—
	Retirement Class	428,742		742,839		217,995		498,371		466,185		1,574,565		485,833		1,098,552		—		—		8,825		10,306
	Retail Class	26,705		48,851		99,212		237,254		210,207		579,508		331,794		699,175		225,367		552,056		2,843		3,852
	Class W	—		—		—		—		—		—		—		—		—		—		—		—
Shares from fund reorganization:	Institutional Class	—		—		—		5,766,628		—		—		—		6,969,704		—		—		—		—
	Advisor Class	—		—		—		4,699,093		—		—		—		19,126,135		—		—		—		—
	Retail Class	—		—		—		1,668,644		—		—		—		5,195,855		—		—		—		—
Shares redeemed:	Institutional Class	(183,966,949	)	(246,335,156	)	(16,487,813	)	(59,098,905	)	(42,252,968	)	(63,022,539	)	(11,423,627	)	(32,476,032	)	(109,974	)	(531,387	)	(22,601	)	(3,043	)
	Advisor Class	(264,992	)	(262,054	)	(26,833,583	)	(28,823,372	)	(10,698,920	)	(30,344,713	)	(2,622,353	)	(7,239,390	)	(25,724	)	(2,818	)	(15	)	(1,019	)
	Premier Class	(247,754	)	(608,790	)	(135,108	)	(359,360	)	(717,347	)	(1,730,347	)	(97,088	)	(571,621	)	—		—		—		—
	Retirement Class	(1,171,687	)	(4,038,095	)	(953,118	)	(4,106,297	)	(3,324,515	)	(4,476,301	)	(2,432,667	)	(7,888,268	)	—		—		(62,423	)	(140,854	)
	Retail Class	(349,901	)	(503,313	)	(767,085	)	(2,161,476	)	(3,671,929	)	(4,801,471	)	(2,209,168	)	(3,968,785	)	(1,099,014	)	(3,073,407	)	(59,011	)	(103,241	)
	Class W	(45,311,116	)	(110,397,101	)	(39,297,114	)	(128,181,424	)	—		—		(18,063,644	)	(59,926,625	)	—		—		—		—
Net increase (decrease) from shareholder transactions		49,068,727		397,111,904		54,716,747		53,285,504		52,265,400		164,526,684		39,643,390		25,141,494		(58,568	)	35,594		594,145		651,871

70 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 71

Statements of changes in net assets	continued
TIAA-CREF Funds  ■  For the period or year ended

			High-Yield Fund						Inflation-Linked Bond Fund						Short Duration Impact Bond Fund						Short-Term Bond Fund						Short-Term Bond Index Fund						Money Market Fund
			September 30,			March 31,			September 30,			March 31,			September 30,			March 31,			September 30,			March 31,			September 30,			March 31,			September 30,			March 31,
			2020			2020			2020			2020			2020			2020			2020			2020			2020			2020			2020			2020
			(unaudited)						(unaudited)						(unaudited)						(unaudited)						(unaudited)						(unaudited)
OPERATIONS
Net investment income (loss)		$	96,603,167		$	213,407,740		$	18,269,222		$	87,250,770		$	330,757		$	764,756		$	18,553,376		$	57,671,522		$	6,339,102		$	13,802,460		$	1,371,162		$	25,743,869
Net realized gain (loss) on total investments			(90,989,203	)		(81,312,513	)		10,126,326			(5,983,205	)		231,604			135,821			4,672,390			9,925,521			3,130,564			1,423,659			16,288			33,150
Net change in unrealized appreciation (depreciation) on total investments			428,805,622			(400,276,400	)		170,643,804			68,916,329			1,107,935			(651,913	)		44,130,114			(16,722,758	)		166,412			12,013,817			—			—
Net increase (decrease) in net assets from operations			434,419,586			(268,181,173	)		199,039,352			150,183,894			1,670,296			248,664			67,355,880			50,874,285			9,636,078			27,239,936			1,387,450			25,777,019
DISTRIBUTIONS TO SHAREHOLDERS
	Institutional Class		(66,907,871	)		(156,775,764	)		(4,973,475	)		(33,779,302	)		(259,312	)		(742,680	)		(6,122,447	)		(21,580,011	)		(483,467	)		(1,137,079	)		(989,185	)		(13,826,085	)
	Advisor Class		(139,403	)		(598,508	)		(446,630	)		(2,868,106	)		(11,908	)		(33,334	)		(1,643,889	)		(3,997,186	)		(7,889	)		(16,334	)		(1,773	)		(35,729	)
	Premier Class		(540,621	)		(1,371,443	)		(22,430	)		(59,211	)		(10,690	)		(31,827	)		(45,064	)		(138,286	)		(5,333	)		(14,976	)		(180,624	)		(3,329,337	)
	Retirement Class		(7,862,042	)		(19,700,573	)		(455,515	)		(3,627,124	)		(36,272	)		(68,395	)		(1,048,105	)		(2,927,141	)		(712,211	)		(1,307,867	)		(138,984	)		(3,880,553	)
	Retail Class		(7,022,627	)		(17,297,682	)		(329,190	)		(2,470,621	)		(13,496	)		(32,246	)		(1,354,098	)		(3,989,884	)		(24,351	)		(54,871	)		(61,320	)		(4,671,118	)
	Class W		(14,188,985	)		(16,961,016	)		(6,944,012	)		(29,288,645	)		—			—			(8,407,244	)		(25,047,525	)		(5,104,837	)		(11,272,600	)		—			—
Total distributions			(96,661,549	)		(212,704,986	)		(13,171,252	)		(72,093,009	)		(331,678	)		(908,482	)		(18,620,847	)		(57,680,033	)		(6,338,088	)		(13,803,727	)		(1,371,886	)		(25,742,822	)
SHAREHOLDER TRANSACTIONS
Subscriptions:	Institutional Class		653,286,655			953,544,394			111,150,134			370,872,285			403,867			1,864,571			141,617,094			316,381,053			16,867,770			23,681,868			221,718,992			711,438,174
	Advisor Class		5,218,675			10,546,605			22,833,666			34,417,666			85,467			117,000			48,041,847			31,669,297			1,085,890			32,688			87,323			1,814,498
	Premier Class		1,607,603			17,953,706			5,108,486			494,218			—			—			1,631,057			1,228,125			148,013			469,631			162,398,315			770,453,136
	Retirement Class		12,207,435			34,167,269			4,525,350			7,678,913			974,359			2,612,800			42,055,021			35,095,731			44,523,845			33,890,532			118,648,268			251,414,975
	Retail Class		25,162,611			76,570,048			12,931,661			28,304,167			241,257			401,322			5,173,802			11,194,452			1,574,041			1,127,424			66,835,056			176,250,137
	Class W		187,622,046			226,932,938			268,097,137			334,044,122			—			—			167,891,290			196,819,835			162,151,090			204,033,031			—			—
Reinvestments of distributions:	Institutional Class		57,923,578			139,449,157			4,771,138			32,467,835			18,692			42,274			4,323,143			16,974,392			483,384			1,136,856			986,433			13,820,523
	Advisor Class		130,372			569,031			173,787			1,084,423			466			—			691,898			1,292,012			7,137			14,254			1,647			33,881
	Premier Class		540,261			1,369,665			22,430			59,210			—			—			45,064			137,957			3,483			9,807			162,176			2,923,593
	Retirement Class		7,861,630			19,699,391			455,515			3,627,104			26,090			37,542			1,048,105			2,926,726			712,125			1,307,668			138,982			3,880,484
	Retail Class		6,565,997			16,058,947			291,723			2,132,293			3,261			2,131			1,248,560			3,685,718			23,830			53,229			60,328			4,587,321
	Class W		—			55			—			—			—			—			—			—			—			—			—			—
Fund reorganization:	Institutional Class		—			—			—			80,898,466			—			—			—			58,675,190			—			—			—			—
	Advisor Class		—			—			—			347,105,669			—			—			—			260,350,375			—			—			—			—
	Retail Class		—			—			—			63,629,612			—			—			—			92,170,171			—			—			—			—
Redemptions:	Institutional Class		(630,456,065	)		(1,565,459,484	)		(525,372,451	)		(464,145,376	)		(8,070	)		(1,889,649	)		(76,457,052	)		(680,708,184	)		(3,456,786	)		(15,141,855	)		(284,909,328	)		(340,184,651	)
	Advisor Class		(4,298,525	)		(19,433,750	)		(38,074,154	)		(245,631,580	)		(35,749	)		(117,116	)		(38,022,482	)		(130,337,661	)		(151,684	)		(285,826	)		(146,315	)		(2,050,015	)
	Premier Class		(2,440,047	)		(29,342,822	)		(541,965	)		(1,052,865	)		—			—			(864,380	)		(5,687,013	)		—			(513,378	)		(323,220,137	)		(360,216,040	)
	Retirement Class		(29,133,834	)		(99,064,417	)		(16,258,368	)		(50,079,336	)		(358,844	)		(399,064	)		(13,400,438	)		(34,871,830	)		(7,116,186	)		(5,546,960	)		(89,558,645	)		(135,300,369	)
	Retail Class		(48,691,112	)		(105,725,044	)		(17,974,492	)		(49,560,761	)		(12,190	)		(261,755	)		(13,188,107	)		(44,004,518	)		(330,159	)		(779,386	)		(69,459,034	)		(158,241,194	)
	Class W		(96,907,186	)		(101,632,859	)		(89,012,242	)		(241,266,373	)		—			—			(62,717,641	)		(300,990,048	)		(45,017,591	)		(78,395,800	)		—			—
Net increase (decrease) from shareholder transactions			146,200,094			(423,797,170	)		(256,872,645	)		255,079,692			1,338,606			2,410,056			209,116,781			(167,998,220	)		171,508,202			165,093,783			(196,255,939	)		940,624,453
Net increase (decrease) in net assets			483,958,131			(904,683,329	)		(71,004,545	)		333,170,577			2,677,224			1,750,238			257,851,814			(174,803,968	)		174,806,192			178,529,992			(196,240,375	)		940,658,650
NET ASSETS
Beginning of period			3,247,352,113			4,152,035,442			3,427,474,839			3,094,304,262			28,577,991			26,827,753			1,810,345,723			1,985,149,691			674,681,864			496,151,872			2,195,033,898			1,254,375,248
End of period		$	3,731,310,244		$	3,247,352,113		$	3,356,470,294		$	3,427,474,839		$	31,255,215		$	28,577,991		$	2,068,197,537		$	1,810,345,723		$	849,488,056		$	674,681,864		$	1,998,793,523		$	2,195,033,898

72 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 73

Statements of changes in net assets	concluded
TIAA-CREF Funds  ■  For the period or year ended

		High-Yield Fund				Inflation-Linked Bond Fund				Short Duration Impact Bond Fund				Short-Term Bond Fund				Short-Term Bond Index Fund				Money Market Fund
		September 30,		March 31,		September 30,		March 31,		September 30,		March 31,		September 30,		March 31,		September 30,		March 31,		September 30,		March 31,
		2020		2020		2020		2020		2020		2020		2020		2020		2020		2020		2020		2020
		(unaudited)				(unaudited)				(unaudited)				(unaudited)				(unaudited)				(unaudited)
CHANGE IN FUND SHARES
Shares sold:	Institutional Class	72,047,007		98,427,976		9,308,506		32,168,942		39,559		184,073		13,242,787		30,574,618		1,657,401		2,368,426		221,718,990		711,438,174
	Advisor Class	578,405		1,088,094		1,908,935		2,980,603		8,420		11,550		4,635,599		3,077,699		106,572		3,269		87,323		1,814,498
	Premier Class	177,801		1,850,883		434,332		43,148		—		—		157,411		118,364		14,568		46,947		162,398,315		770,453,136
	Retirement Class	1,350,080		3,528,411		375,432		665,136		95,366		257,557		4,025,500		3,387,443		4,374,225		3,390,855		118,648,268		251,414,975
	Retail Class	2,783,053		7,900,851		1,112,085		2,531,468		23,534		39,814		497,393		1,079,271		154,710		112,685		66,835,057		176,250,137
	Class W	21,289,190		25,589,539		22,437,019		29,083,259		—		—		16,108,988		19,027,349		15,924,478		20,431,018		—		—
Shares reinvested:	Institutional Class	6,396,202		14,549,599		397,301		2,839,344		1,824		4,164		414,284		1,637,492		47,460		113,584		986,433		13,820,523
	Advisor Class	14,396		59,101		14,476		94,594		45		—		66,314		124,574		700		1,425		1,647		33,881
	Premier Class	59,624		142,733		1,872		5,185		—		—		4,314		13,302		342		980		162,176		2,923,593
	Retirement Class	868,710		2,055,121		37,702		314,659		2,546		3,700		100,303		281,999		69,917		130,614		138,982		3,880,484
	Retail Class	722,578		1,669,228		24,981		191,224		318		211		119,629		355,163		2,340		5,320		60,328		4,587,321
	Class W	—		6		—		—		—		—		—		—		—		—		—		—
Shares from fund reorganization:	Institutional Class	—		—		—		7,107,836		—		—		—		5,669,326		—		—		—		—
	Advisor Class	—		—		—		30,491,317		—		—		—		25,162,252		—		—		—		—
	Retail Class	—		—		—		5,734,468		—		—		—		8,898,176		—		—		—		—
Shares redeemed:	Institutional Class	(69,705,824	)	(163,217,798	)	(44,132,684	)	(40,319,460	)	(787	)	(187,450	)	(7,004,717	)	(65,306,829	)	(339,656	)	(1,514,286	)	(284,909,328	)	(340,184,650	)
	Advisor Class	(473,273	)	(2,037,439	)	(3,185,439	)	(21,309,409	)	(3,490	)	(11,550	)	(3,651,041	)	(12,568,632	)	(14,892	)	(28,539	)	(146,315	)	(2,050,015	)
	Premier Class	(270,181	)	(3,060,252	)	(45,824	)	(91,940	)	—		—		(82,428	)	(548,782	)	—		(50,791	)	(323,220,137	)	(360,216,040	)
	Retirement Class	(3,244,924	)	(10,475,887	)	(1,356,617	)	(4,330,693	)	(35,069	)	(39,245	)	(1,284,609	)	(3,368,106	)	(698,454	)	(554,513	)	(89,558,645	)	(135,300,368	)
	Retail Class	(5,412,021	)	(11,160,257	)	(1,552,779	)	(4,416,306	)	(1,192	)	(25,915	)	(1,266,851	)	(4,252,428	)	(32,438	)	(77,844	)	(69,459,034	)	(158,241,194	)
	Class W	(10,503,200	)	(10,481,975	)	(7,434,860	)	(20,867,113	)	—		—		(6,058,595	)	(29,079,631	)	(4,429,237	)	(7,795,300	)	—		—
Net increase (decrease) from shareholder transactions		16,677,623		(43,572,066	)	(21,655,562	)	22,916,262		131,074		236,909		20,024,281		(15,717,380	)	16,838,036		16,583,850		(196,255,940	)	940,624,455

74 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 75

Financial highlights

TIAA-CREF Funds

			Selected per share data
					Gain (loss) from investment operations
	For the		Net asset		Net			Net realized and			Total gain			Less distributions from						Total			Net asset
	period or year ended		value, beginning of period		investment income (loss		)a	unrealized gain (loss) on total investments			(loss) from investment operations			Net investment income			Net realized gains			dividends and distributions			value, end of period
BOND INDEX FUND
Institutional Class:	9/30/20	#		$11.40		$0.13			$ 0.26			$ 0.39			$(0.13	)		$    —			$(0.13	)		$11.66
	3/31/20			10.76		0.29			0.64			0.93			(0.29	)		—			(0.29	)		11.40
	3/31/19			10.58		0.29			0.18			0.47			(0.29	)		—			(0.29	)		10.76
	3/31/18			10.75		0.26			(0.17	)		0.09			(0.26	)		(0.00	)		(0.26	)		10.58
	3/31/17			10.98		0.25			(0.23	)		0.02			(0.25	)		—			(0.25	)		10.75
	3/31/16			11.03		0.25			(0.03	)		0.22			(0.25	)		(0.02	)		(0.27	)		10.98
Advisor Class:	9/30/20	#		11.41		0.12			0.25			0.37			(0.12	)		—			(0.12	)		11.66
	3/31/20			10.76		0.27			0.66			0.93			(0.28	)		—			(0.28	)		11.41
	3/31/19			10.59		0.28			0.17			0.45			(0.28	)		—			(0.28	)		10.76
	3/31/18			10.76		0.25			(0.17	)		0.08			(0.25	)		(0.00	)		(0.25	)		10.59
	3/31/17			10.98		0.25			(0.22	)		0.03			(0.25	)		—			(0.25	)		10.76
	3/31/16	‡		10.77		0.08			0.23			0.31			(0.08	)		(0.02	)		(0.10	)		10.98
Premier Class:	9/30/20	#		11.40		0.12			0.26			0.38			(0.12	)		—			(0.12	)		11.66
	3/31/20			10.76		0.27			0.64			0.91			(0.27	)		—			(0.27	)		11.40
	3/31/19			10.58		0.27			0.18			0.45			(0.27	)		—			(0.27	)		10.76
	3/31/18			10.75		0.25			(0.17	)		0.08			(0.25	)		(0.00	)		(0.25	)		10.58
	3/31/17			10.98		0.23			(0.23	)		0.00			(0.23	)		—			(0.23	)		10.75
	3/31/16			11.03		0.23			(0.03	)		0.20			(0.23	)		(0.02	)		(0.25	)		10.98
Retirement Class:	9/30/20	#		11.41		0.11			0.26			0.37			(0.12	)		—			(0.12	)		11.66
	3/31/20			10.77		0.26			0.64			0.90			(0.26	)		—			(0.26	)		11.41
	3/31/19			10.59		0.26			0.18			0.44			(0.26	)		—			(0.26	)		10.77
	3/31/18			10.75		0.24			(0.16	)		0.08			(0.24	)		(0.00	)		(0.24	)		10.59
	3/31/17			10.98		0.22			(0.23	)		(0.01	)		(0.22	)		—			(0.22	)		10.75
	3/31/16			11.04		0.22			(0.04	)		0.18			(0.22	)		(0.02	)		(0.24	)		10.98
Retail Class:	9/30/20	#		11.41		0.11			0.26			0.37			(0.11	)		—			(0.11	)		11.67
	3/31/20			10.77		0.25			0.64			0.89			(0.25	)		—			(0.25	)		11.41
	3/31/19			10.59		0.26			0.18			0.44			(0.26	)		—			(0.26	)		10.77
	3/31/18			10.75		0.23			(0.16	)		0.07			(0.23	)		(0.00	)		(0.23	)		10.59
	3/31/17			10.98		0.21			(0.23	)		(0.02	)		(0.21	)		—			(0.21	)		10.75
	3/31/16			11.04		0.21			(0.04	)		0.17			(0.21	)		(0.02	)		(0.23	)		10.98
Class W:	9/30/20	#		11.41		0.13			0.26			0.39			(0.14	)		—			(0.14	)		11.66
	3/31/20			10.76		0.30			0.65			0.95			(0.30	)		—			(0.30	)		11.41
	3/31/19	††		10.43		0.16			0.32			0.48			(0.15	)		—			(0.15	)		10.76
CORE BOND FUND
Institutional Class:	9/30/20	#		10.48		0.13			0.60			0.73			(0.13	)		—			(0.13	)		11.08
	3/31/20			10.29		0.30			0.19			0.49			(0.30	)		—			(0.30	)		10.48
	3/31/19			10.18		0.32			0.11			0.43			(0.32	)		—			(0.32	)		10.29
	3/31/18			10.30		0.31			(0.12	)		0.19			(0.30	)		(0.01	)		(0.31	)		10.18
	3/31/17			10.45		0.29			(0.05	)		0.24			(0.29	)		(0.10	)		(0.39	)		10.30
	3/31/16			10.65		0.28			(0.07	)		0.21			(0.28	)		(0.13	)		(0.41	)		10.45
Advisor Class:	9/30/20	#		10.49		0.13			0.60			0.73			(0.13	)		—			(0.13	)		11.09
	3/31/20			10.30		0.29			0.19			0.48			(0.29	)		—			(0.29	)		10.49
	3/31/19			10.18		0.31			0.12			0.43			(0.31	)		—			(0.31	)		10.30
	3/31/18			10.30		0.30			(0.11	)		0.19			(0.30	)		(0.01	)		(0.31	)		10.18
	3/31/17			10.46		0.29			(0.06	)		0.23			(0.29	)		(0.10	)		(0.39	)		10.30
	3/31/16	‡		10.39		0.09			0.20			0.29			(0.09	)		(0.13	)		(0.22	)		10.46
Premier Class:	9/30/20	#		10.49		0.13			0.59			0.72			(0.12	)		—			(0.12	)		11.09
	3/31/20			10.30		0.29			0.18			0.47			(0.28	)		—			(0.28	)		10.49
	3/31/19			10.18		0.31			0.12			0.43			(0.31	)		—			(0.31	)		10.30
	3/31/18			10.30		0.29			(0.11	)		0.18			(0.29	)		(0.01	)		(0.30	)		10.18
	3/31/17			10.46		0.27			(0.06	)		0.21			(0.27	)		(0.10	)		(0.37	)		10.30
	3/31/16			10.66		0.27			(0.07	)		0.20			(0.27	)		(0.13	)		(0.40	)		10.46
Retirement Class:	9/30/20	#		10.67		0.12			0.62			0.74			(0.12	)		—			(0.12	)		11.29
	3/31/20			10.48		0.28			0.19			0.47			(0.28	)		—			(0.28	)		10.67
	3/31/19			10.36		0.30			0.12			0.42			(0.30	)		—			(0.30	)		10.48
	3/31/18			10.49		0.28			(0.12	)		0.16			(0.28	)		(0.01	)		(0.29	)		10.36
	3/31/17			10.64		0.27			(0.05	)		0.22			(0.27	)		(0.10	)		(0.37	)		10.49
	3/31/16			10.84		0.26			(0.07	)		0.19			(0.26	)		(0.13	)		(0.39	)		10.64
Retail Class:	9/30/20	#		10.66		0.12			0.61			0.73			(0.12	)		—			(0.12	)		11.27
	3/31/20			10.47		0.28			0.18			0.46			(0.27	)		—			(0.27	)		10.66
	3/31/19			10.35		0.30			0.12			0.42			(0.30	)		—			(0.30	)		10.47
	3/31/18			10.48		0.28			(0.12	)		0.16			(0.28	)		(0.01	)		(0.29	)		10.35
	3/31/17			10.63		0.26			(0.05	)		0.21			(0.26	)		(0.10	)		(0.36	)		10.48
	3/31/16			10.83		0.26			(0.08	)		0.18			(0.25	)		(0.13	)		(0.38	)		10.63
Class W:	9/30/20	#		10.48		0.15			0.60			0.75			(0.15	)		—			(0.15	)		11.08
	3/31/20			10.29		0.33			0.19			0.52			(0.33	)		—			(0.33	)		10.48
	3/31/19	††		10.00		0.18			0.29			0.47			(0.18	)		—			(0.18	)		10.29

76 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements

						Ratios and supplemental data
	For the period					Net assets at			Ratios to average net assets									Portfolio			Portfolio turnover rate excluding
	or year ended		Total return			end of period (in thousands		)	Gross expenses			Net expenses			Net investment income (loss)			turnover rate			mortgage dollar rolls
BOND INDEX FUND
Institutional Class:	9/30/20	#		3.33	%b		$  9,425,395			0.11	%c		0.11	%c		2.21	%c		20	%		20	%
	3/31/20			8.83			10,054,559			0.11			0.11			2.61			32			32
	3/31/19			4.55			6,445,380			0.11			0.11			2.75			20			20
	3/31/18			0.89			9,558,420			0.12			0.12			2.45			15			15
	3/31/17			0.15			7,372,654			0.12			0.12			2.27			14			14
	3/31/16			1.99			6,115,247			0.12			0.12			2.28			22			22
Advisor Class:	9/30/20	#		3.28	b		25,935			0.22	c		0.22	c		2.10	c		20			20
	3/31/20			8.73			17,005			0.22			0.22			2.48			32			32
	3/31/19			4.33			1,139			0.22			0.22			2.74			20			20
	3/31/18			0.78			282			0.20			0.20			2.30			15			15
	3/31/17			0.22			4,636			0.18			0.18			2.36			14			14
	3/31/16	‡		2.84	b		102			0.34	c		0.27	c		2.23	c		22			22
Premier Class:	9/30/20	#		3.35	b		28,500			0.26	c		0.26	c		2.06	c		20			20
	3/31/20			8.58			25,927			0.27			0.27			2.46			32			32
	3/31/19			4.39			21,379			0.26			0.26			2.61			20			20
	3/31/18			0.74			33,640			0.27			0.27			2.30			15			15
	3/31/17			0.00			30,001			0.27			0.27			2.10			14			14
	3/31/16			1.84			52,687			0.27			0.27			2.13			22			22
Retirement Class:	9/30/20	#		3.20	b		561,304			0.36	c		0.36	c		1.96	c		20			20
	3/31/20			8.46			449,368			0.37			0.37			2.36			32			32
	3/31/19			4.29			258,787			0.36			0.36			2.53			20			20
	3/31/18			0.73			179,875			0.37			0.37			2.20			15			15
	3/31/17			(0.10	)		139,123			0.37			0.37			2.02			14			14
	3/31/16			1.64			120,858			0.37			0.37			2.03			22			22
Retail Class:	9/30/20	#		3.26	b		36,629			0.42	c		0.42	c		1.90	c		20			20
	3/31/20			8.39			29,641			0.43			0.43			2.29			32			32
	3/31/19			4.20			21,544			0.44			0.44			2.43			20			20
	3/31/18			0.66			20,927			0.44			0.44			2.12			15			15
	3/31/17			(0.18	)		21,467			0.44			0.44			1.94			14			14
	3/31/16			1.55			21,540			0.46			0.46			1.94			22			22
Class W:	9/30/20	#		3.39	b		7,424,491			0.11	c		0.00	c		2.31	c		20			20
	3/31/20			8.96			5,983,462			0.11			0.00			2.72			32			32
	3/31/19	††		4.69	b		4,605,482			0.11	c		0.00	c		2.97	c		20			20
CORE BOND FUND
Institutional Class:	9/30/20	#		7.01	b		2,231,496			0.29	c		0.29	c		2.43	c		94			53
	3/31/20			4.75			1,753,879			0.30			0.30			2.86			133			125
	3/31/19			4.38			954,430			0.30			0.30			3.16			138			125
	3/31/18			1.83			4,343,864			0.30			0.30			2.95			155			130
	3/31/17			2.29			3,777,813			0.31			0.31			2.75			277			179
	3/31/16			2.05			2,729,221			0.31			0.31			2.72			309			166
Advisor Class:	9/30/20	#		6.93	b		745,060			0.42	c		0.42	c		2.30	c		94			53
	3/31/20			4.61			906,706			0.43			0.43			2.73			133			125
	3/31/19			4.37			933,420			0.44			0.44			3.15			138			125
	3/31/18			1.74			5,148			0.38			0.38			2.95			155			130
	3/31/17			2.28			210			0.33			0.33			2.74			277			179
	3/31/16	‡		2.71	b		102			0.53	c		0.46	c		2.78	c		309			166
Premier Class:	9/30/20	#		6.92	b		14,604			0.44	c		0.44	c		2.28	c		94			53
	3/31/20			4.60			13,685			0.45			0.45			2.71			133			125
	3/31/19			4.32			14,729			0.45			0.45			3.05			138			125
	3/31/18			1.67			25,584			0.45			0.45			2.79			155			130
	3/31/17			2.04			27,651			0.46			0.46			2.60			277			179
	3/31/16			1.89			30,009			0.46			0.46			2.59			309			166
Retirement Class:	9/30/20	#		6.86	b		231,707			0.54	c		0.54	c		2.18	c		94			53
	3/31/20			4.56			208,899			0.55			0.55			2.61			133			125
	3/31/19			4.20			197,645			0.55			0.55			2.98			138			125
	3/31/18			1.49			213,497			0.55			0.55			2.69			155			130
	3/31/17			2.04			224,159			0.56			0.56			2.50			277			179
	3/31/16			1.80			234,458			0.56			0.56			2.45			309			166
Retail Class:	9/30/20	#		6.75	b		112,544			0.58	c		0.58	c		2.14	c		94			53
	3/31/20			4.52			106,363			0.59			0.59			2.57			133			125
	3/31/19			4.16			92,455			0.60			0.60			2.93			138			125
	3/31/18			1.45			97,066			0.60			0.60			2.65			155			130
	3/31/17			1.99			90,587			0.61			0.61			2.45			277			179
	3/31/16			1.75			79,566			0.62			0.62			2.41			309			166
Class W:	9/30/20	#		7.16	b		4,253,002			0.29	c		0.00	c		2.72	c		94			53
	3/31/20			5.06			3,614,517			0.30			0.00			3.16			133			125
	3/31/19	††		4.77	b		3,741,378			0.30	c		0.00	c		3.64	c		138			125

See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 77

Financial highlights

TIAA-CREF Funds

			Selected per share data
					Gain (loss) from investment operations
	For the		Net asset		Net			Net realized and			Total gain		Less distributions from						Total			Net asset
	period or year ended		value, beginning of period		investment income (loss		)a	unrealized gain (loss) on total investments			(loss) from investment operations		Net investment income			Net realized gains			dividends and distributions			value, end of period
CORE IMPACT BOND FUND
Institutional Class:	9/30/20	#		$10.41		$0.12			$ 0.59			$0.71		$(0.12	)		$     —			$(0.12	)		$11.00
	3/31/20			10.28		0.28			0.20			0.48		(0.28	)		(0.07	)		(0.35	)		10.41
	3/31/19			10.14		0.30			0.14			0.44		(0.30	)		—			(0.30	)		10.28
	3/31/18			10.18		0.27			(0.05	)		0.22		(0.26	)		—			(0.26	)		10.14
	3/31/17			10.32		0.24			(0.06	)		0.18		(0.25	)		(0.07	)		(0.32	)		10.18
	3/31/16			10.45		0.26			(0.09	)		0.17		(0.26	)		(0.04	)		(0.30	)		10.32
Advisor Class:	9/30/20	#		10.42		0.11			0.58			0.69		(0.11	)		—			(0.11	)		11.00
	3/31/20			10.29		0.27			0.20			0.47		(0.27	)		(0.07	)		(0.34	)		10.42
	3/31/19			10.15		0.30			0.14			0.44		(0.30	)		—			(0.30	)		10.29
	3/31/18			10.19		0.26			(0.05	)		0.21		(0.25	)		—			(0.25	)		10.15
	3/31/17			10.32		0.21			(0.03	)		0.18		(0.24	)		(0.07	)		(0.31	)		10.19
	3/31/16	‡		10.20		0.08			0.16			0.24		(0.08	)		(0.04	)		(0.12	)		10.32
Premier Class:	9/30/20	#		10.42		0.11			0.58			0.69		(0.11	)		—			(0.11	)		11.00
	3/31/20			10.29		0.27			0.20			0.47		(0.27	)		(0.07	)		(0.34	)		10.42
	3/31/19			10.15		0.28			0.14			0.42		(0.28	)		—			(0.28	)		10.29
	3/31/18			10.19		0.25			(0.05	)		0.20		(0.24	)		—			(0.24	)		10.15
	3/31/17			10.31		0.23			(0.04	)		0.19		(0.24	)		(0.07	)		(0.31	)		10.19
	3/31/16			10.45		0.25			(0.11	)		0.14		(0.24	)		(0.04	)		(0.28	)		10.31
Retirement Class:	9/30/20	#		10.41		0.10			0.59			0.69		(0.10	)		—			(0.10	)		11.00
	3/31/20			10.29		0.26			0.19			0.45		(0.26	)		(0.07	)		(0.33	)		10.41
	3/31/19			10.14		0.28			0.15			0.43		(0.28	)		—			(0.28	)		10.29
	3/31/18			10.19		0.24			(0.06	)		0.18		(0.23	)		—			(0.23	)		10.14
	3/31/17			10.32		0.22			(0.05	)		0.17		(0.23	)		(0.07	)		(0.30	)		10.19
	3/31/16			10.45		0.23			(0.09	)		0.14		(0.23	)		(0.04	)		(0.27	)		10.32
Retail Class:	9/30/20	#		10.40		0.10			0.59			0.69		(0.10	)		—			(0.10	)		10.99
	3/31/20			10.28		0.25			0.19			0.44		(0.25	)		(0.07	)		(0.32	)		10.40
	3/31/19			10.14		0.27			0.14			0.41		(0.27	)		—			(0.27	)		10.28
	3/31/18			10.18		0.24			(0.05	)		0.19		(0.23	)		—			(0.23	)		10.14
	3/31/17			10.31		0.22			(0.06	)		0.16		(0.22	)		(0.07	)		(0.29	)		10.18
	3/31/16			10.45		0.23			(0.10	)		0.13		(0.23	)		(0.04	)		(0.27	)		10.31
CORE PLUS BOND FUND
Institutional Class:	9/30/20	#		10.38		0.16			0.66			0.82		(0.15	)		—			(0.15	)		11.05
	3/31/20			10.35		0.32			0.03			0.35		(0.32	)		—			(0.32	)		10.38
	3/31/19			10.24		0.35			0.10			0.45		(0.34	)		—			(0.34	)		10.35
	3/31/18			10.36		0.33			(0.11	)		0.22		(0.33	)		(0.01	)		(0.34	)		10.24
	3/31/17			10.47		0.33			(0.02	)		0.31		(0.32	)		(0.10	)		(0.42	)		10.36
	3/31/16			10.75		0.32			(0.16	)		0.16		(0.32	)		(0.12	)		(0.44	)		10.47
Advisor Class:	9/30/20	#		10.39		0.15			0.67			0.82		(0.15	)		—			(0.15	)		11.06
	3/31/20			10.36		0.31			0.03			0.34		(0.31	)		—			(0.31	)		10.39
	3/31/19			10.25		0.34			0.11			0.45		(0.34	)		—			(0.34	)		10.36
	3/31/18			10.37		0.32			(0.11	)		0.21		(0.32	)		(0.01	)		(0.33	)		10.25
	3/31/17			10.48		0.30			0.01			0.31		(0.32	)		(0.10	)		(0.42	)		10.37
	3/31/16	‡		10.45		0.10			0.15			0.25		(0.10	)		(0.12	)		(0.22	)		10.48
Premier Class:	9/30/20	#		10.38		0.15			0.67			0.82		(0.15	)		—			(0.15	)		11.05
	3/31/20			10.35		0.31			0.02			0.33		(0.30	)		—			(0.30	)		10.38
	3/31/19			10.24		0.33			0.11			0.44		(0.33	)		—			(0.33	)		10.35
	3/31/18			10.36		0.32			(0.12	)		0.20		(0.31	)		(0.01	)		(0.32	)		10.24
	3/31/17			10.47		0.31			(0.01	)		0.30		(0.31	)		(0.10	)		(0.41	)		10.36
	3/31/16			10.75		0.30			(0.16	)		0.14		(0.30	)		(0.12	)		(0.42	)		10.47
Retirement Class:	9/30/20	#		10.40		0.14			0.66			0.80		(0.14	)		—			(0.14	)		11.06
	3/31/20			10.37		0.30			0.02			0.32		(0.29	)		—			(0.29	)		10.40
	3/31/19			10.26		0.32			0.11			0.43		(0.32	)		—			(0.32	)		10.37
	3/31/18			10.37		0.31			(0.11	)		0.20		(0.30	)		(0.01	)		(0.31	)		10.26
	3/31/17			10.49		0.30			(0.02	)		0.28		(0.30	)		(0.10	)		(0.40	)		10.37
	3/31/16			10.76		0.29			(0.15	)		0.14		(0.29	)		(0.12	)		(0.41	)		10.49
Retail Class:	9/30/20	#		10.40		0.14			0.67			0.81		(0.14	)		—			(0.14	)		11.07
	3/31/20			10.38		0.29			0.01			0.30		(0.28	)		—			(0.28	)		10.40
	3/31/19			10.26		0.32			0.11			0.43		(0.31	)		—			(0.31	)		10.38
	3/31/18			10.38		0.30			(0.11	)		0.19		(0.30	)		(0.01	)		(0.31	)		10.26
	3/31/17			10.49		0.30			(0.02	)		0.28		(0.29	)		(0.10	)		(0.39	)		10.38
	3/31/16			10.77		0.29			(0.17	)		0.12		(0.28	)		(0.12	)		(0.40	)		10.49
Class W:	9/30/20	#		10.38		0.17			0.67			0.84		(0.17	)		—			(0.17	)		11.05
	3/31/20			10.36		0.36			0.01			0.37		(0.35	)		—			(0.35	)		10.38
	3/31/19	††		10.07		0.19			0.29			0.48		(0.19	)		—			(0.19	)		10.36

78 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements

continued

						Ratios and supplemental data
	For the period					Net assets at			Ratios to average net assets									Portfolio			Portfolio turnover rate excluding
	or year ended		Total return			end of period (in thousands		)	Gross expenses			Net expenses			Net investment income (loss)			turnover rate			mortgage dollar rolls
CORE IMPACT BOND FUND
Institutional Class:	9/30/20	#		6.80	%b		$ 3,703,550			0.35	%c		0.35	%c		2.13	%c		149	%		116	%
	3/31/20			4.74			3,223,141			0.36			0.36			2.68			115	f		110	f
	3/31/19			4.47			1,961,314			0.37			0.37			3.02			90			82
	3/31/18			2.14			1,203,023			0.39			0.39			2.61			112			89
	3/31/17			1.73			618,298			0.40			0.40			2.36			182			115
	3/31/16			1.64			377,577			0.41			0.40			2.50			107			107
Advisor Class:	9/30/20	#		6.65	b		1,260,262			0.43	c		0.43	c		2.04	c		149			116
	3/31/20			4.64			930,083			0.46			0.46			2.58			115	f		110	f
	3/31/19			4.39			554,143			0.44			0.44			2.97			90			82
	3/31/18			2.09			239,374			0.44			0.44			2.55			112			89
	3/31/17			1.68			113,376			0.53			0.52			2.13			182			115
	3/31/16	‡		2.40	b		102			0.63	c		0.55	c		2.53	c		107			107
Premier Class:	9/30/20	#		6.61	b		33,891			0.51	c		0.51	c		1.97	c		149			116
	3/31/20			4.57			30,850			0.53			0.53			2.51			115	f		110	f
	3/31/19			4.28			36,827			0.55			0.55			2.84			90			82
	3/31/18			1.99			30,079			0.54			0.54			2.44			112			89
	3/31/17			1.78			17,334			0.55			0.55			2.24			182			115
	3/31/16			1.39			29,475			0.56			0.55			2.43			107			107
Retirement Class:	9/30/20	#		6.67	b		534,432			0.60	c		0.60	c		1.89	c		149			116
	3/31/20			4.38			527,044			0.61			0.61			2.43			115	f		110	f
	3/31/19			4.31			467,437			0.62			0.62			2.77			90			82
	3/31/18			1.79			364,848			0.64			0.64			2.34			112			89
	3/31/17			1.58			263,594			0.65			0.65			2.12			182			115
	3/31/16			1.39			223,415			0.66			0.65			2.28			107			107
Retail Class:	9/30/20	#		6.66	b		266,463			0.61	c		0.61	c		1.87	c		149			116
	3/31/20			4.35			233,432			0.64			0.64			2.40			115	f		110	f
	3/31/19			4.18			172,447			0.65			0.65			2.72			90			82
	3/31/18			1.88			176,995			0.65			0.65			2.33			112			89
	3/31/17			1.56			107,219			0.67			0.67			2.10			182			115
	3/31/16			1.26			72,933			0.69			0.68			2.23			107			107
CORE PLUS BOND FUND
Institutional Class:	9/30/20	#		7.96	b		1,581,087			0.29	c		0.29	c		2.86	c		60			30
	3/31/20			3.31			1,383,899			0.30			0.30			3.04			94	f		85	f
	3/31/19			4.56			1,185,094			0.30			0.30			3.39			106			90
	3/31/18			2.07			3,434,043			0.30			0.30			3.19			156			116
	3/31/17			3.02			2,921,905			0.31			0.31			3.12			246			154
	3/31/16			1.56			2,449,009			0.31			0.31			3.05			293			172
Advisor Class:	9/30/20	#		7.92	b		213,143			0.37	c		0.37	c		2.79	c		60			30
	3/31/20			3.24			211,366			0.38			0.38			2.93			94	f		85	f
	3/31/19			4.51			35,007			0.35			0.35			3.39			106			90
	3/31/18			1.99			24,604			0.37			0.37			3.17			156			116
	3/31/17			2.98			1,658			0.40			0.40			2.98			246			154
	3/31/16	‡		2.46	b		102			0.53	c		0.46	c		3.06	c		293			172
Premier Class:	9/30/20	#		7.88	b		9,754			0.44	c		0.44	c		2.71	c		60			30
	3/31/20			3.16			9,431			0.45			0.45			2.89			94	f		85	f
	3/31/19			4.41			10,707			0.45			0.45			3.25			106			90
	3/31/18			1.92			22,115			0.46			0.46			3.02			156			116
	3/31/17			2.87			41,849			0.46			0.46			2.97			246			154
	3/31/16			1.41			26,983			0.46			0.46			2.92			293			172
Retirement Class:	9/30/20	#		7.72	b		434,661			0.54	c		0.54	c		2.61	c		60			30
	3/31/20			3.06			394,611			0.55			0.55			2.79			94	f		85	f
	3/31/19			4.30			436,641			0.55			0.55			3.18			106			90
	3/31/18			1.92			426,965			0.55			0.55			2.94			156			116
	3/31/17			2.67			333,416			0.56			0.56			2.87			246			154
	3/31/16			1.41			198,216			0.56			0.56			2.80			293			172
Retail Class:	9/30/20	#		7.78	b		309,764			0.60	c		0.60	c		2.55	c		60			30
	3/31/20			2.90			298,496			0.61			0.61			2.73			94	f		85	f
	3/31/19			4.33			256,549			0.62			0.62			3.11			106			90
	3/31/18			1.75			264,757			0.62			0.62			2.87			156			116
	3/31/17			2.69			263,847			0.63			0.63			2.80			246			154
	3/31/16			1.25			264,536			0.63			0.63			2.73			293			172
Class W:	9/30/20	#		8.12	b		2,749,256			0.29	c		0.00	c		3.15	c		60			30
	3/31/20			3.52			2,268,780			0.30			0.00			3.34			94	f		85	f
	3/31/19	††		4.82	b		2,370,116			0.31	c		0.00	c		3.84	c		106			90

See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 79

Financial highlights

TIAA-CREF Funds

			Selected per share data
					Gain (loss) from investment operations
	For the		Net asset		Net			Net realized and			Total gain			Less distributions from						Total			Net asset
	period or year ended		value, beginning of period		investment income (loss		)a	unrealized gain (loss) on total investments			(loss) from investment operations			Net investment income			Net realized gains			dividends and distributions			value, end of period
5–15 YEAR LADDERED TAX-EXEMPT BOND FUND
Institutional Class:	9/30/20	#		$10.50		$0.12			$ 0.34			$ 0.46			$(0.12	)		$    —			$(0.12	)		$10.84
	3/31/20			10.55		0.26			(0.03	)		0.23			(0.26	)		(0.02	)		(0.28	)		10.50
	3/31/19			10.26		0.27			0.30			0.57			(0.27	)		(0.01	)		(0.28	)		10.55
	3/31/18			10.25		0.24			0.01			0.25			(0.24	)		(0.00	)d		(0.24	)		10.26
	3/31/17			10.72		0.22			(0.29	)		(0.07	)		(0.23	)		(0.17	)		(0.40	)		10.25
	3/31/16			10.82		0.22			0.06			0.28			(0.22	)		(0.16	)		(0.38	)		10.72
Advisor Class:	9/30/20	#		10.50		0.12			0.33			0.45			(0.12	)		—			(0.12	)		10.83
	3/31/20			10.55		0.25			(0.02	)		0.23			(0.26	)		(0.02	)		(0.28	)		10.50
	3/31/19			10.26		0.26			0.30			0.56			(0.26	)		(0.01	)		(0.27	)		10.55
	3/31/18			10.25		0.24			0.01			0.25			(0.24	)		(0.00	)d		(0.24	)		10.26
	3/31/17			10.72		0.23			(0.30	)		(0.07	)		(0.23	)		(0.17	)		(0.40	)		10.25
	3/31/16	‡		10.75		0.07			0.13			0.20			(0.07	)		(0.16	)		(0.23	)		10.72
Retail Class:	9/30/20	#		10.51		0.11			0.34			0.45			(0.11	)		—			(0.11	)		10.85
	3/31/20			10.56		0.23			(0.03	)		0.20			(0.23	)		(0.02	)		(0.25	)		10.51
	3/31/19			10.27		0.24			0.30			0.54			(0.24	)		(0.01	)		(0.25	)		10.56
	3/31/18			10.26		0.21			0.01			0.22			(0.21	)		(0.00	)d		(0.21	)		10.27
	3/31/17			10.73		0.20			(0.30	)		(0.10	)		(0.20	)		(0.17	)		(0.37	)		10.26
	3/31/16			10.84		0.19			0.05			0.24			(0.19	)		(0.16	)		(0.35	)		10.73
GREEN BOND FUND
Institutional Class:	9/30/20	#		10.22		0.15			0.79			0.94			(0.15	)		—			(0.15	)		11.01
	3/31/20			10.33		0.33			(0.02	)		0.31			(0.33	)		(0.09	)		(0.42	)		10.22
	3/31/19	§		10.00		0.14			0.33			0.47			(0.14	)		—			(0.14	)		10.33
Advisor Class:	9/30/20	#		10.22		0.15			0.79			0.94			(0.15	)		—			(0.15	)		11.01
	3/31/20			10.33		0.33			(0.02	)		0.31			(0.33	)		(0.09	)		(0.42	)		10.22
	3/31/19	§		10.00		0.13			0.33			0.46			(0.13	)		—			(0.13	)		10.33
Premier Class:	9/30/20	#		10.22		0.14			0.79			0.93			(0.14	)		—			(0.14	)		11.01
	3/31/20			10.33		0.32			(0.02	)		0.30			(0.32	)		(0.09	)		(0.41	)		10.22
	3/31/19	§		10.00		0.13			0.33			0.46			(0.13	)		—			(0.13	)		10.33
Retirement Class:	9/30/20	#		10.22		0.14			0.79			0.93			(0.14	)		—			(0.14	)		11.01
	3/31/20			10.33		0.31			(0.01	)		0.30			(0.32	)		(0.09	)		(0.41	)		10.22
	3/31/19	§		10.00		0.13			0.33			0.46			(0.13	)		—			(0.13	)		10.33
Retail Class:	9/30/20	#		10.22		0.13			0.79			0.92			(0.13	)		—			(0.13	)		11.01
	3/31/20			10.33		0.30			(0.01	)		0.29			(0.31	)		(0.09	)		(0.40	)		10.22
	3/31/19	§		10.00		0.13			0.33			0.46			(0.13	)		—			(0.13	)		10.33

80 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements

continued

						Ratios and supplemental data
	For the period					Net assets at			Ratios to average net assets									Portfolio
	or year ended		Total return			end of period (in thousands		)	Gross expenses			Net expenses			Net investment income (loss)			turnover rate
5–15 YEAR LADDERED TAX-EXEMPT BOND FUND
Institutional Class:	9/30/20	#		4.41	%b		$   6,662			0.32	%c		0.30	%c		2.24	%c		12	%
	3/31/20			2.21			4,946			0.33			0.30			2.43			21
	3/31/19			5.64			5,091			0.35			0.31			2.71			43
	3/31/18			2.48			1,401			0.38			0.35			2.31			29
	3/31/17			(0.63	)		2,418			0.37			0.35			2.04			59
	3/31/16			2.60			49,799			0.36			0.35			2.03			110
Advisor Class:	9/30/20	#		4.27	b		735			0.40	c		0.38	c		2.15	c		12
	3/31/20			2.14			966			0.41			0.38			2.36			21
	3/31/19			5.58			228			0.41			0.38			2.58			43
	3/31/18			2.49			100			0.37			0.34			2.34			29
	3/31/17			(0.63	)		99			0.38			0.36			2.15			59
	3/31/16	‡		1.85	b		101			0.58	c		0.50	c		2.00	c		110
Retail Class:	9/30/20	#		4.26	b		271,099			0.59	c		0.58	c		1.97	c		12
	3/31/20			1.93			264,478			0.61			0.58			2.17			21
	3/31/19			5.34			265,913			0.63			0.60			2.34			43
	3/31/18			2.20			266,695			0.65			0.62			2.06			29
	3/31/17			(0.90	)		281,643			0.65			0.63			1.87			59
	3/31/16			2.22			296,355			0.63			0.63			1.75			110
GREEN BOND FUND
Institutional Class:	9/30/20	#		9.18	b		23,657			0.86	c		0.45	c		2.72	c		22
	3/31/20			2.94			21,857			1.21			0.45			3.15			37
	3/31/19	§		4.71	b		21,751			2.99	c		0.45	c		3.68	c		31	b
Advisor Class:	9/30/20	#		9.17	b		1,219			0.87	c		0.46	c		2.71	c		22
	3/31/20			2.93			1,069			1.22			0.46			3.14			37
	3/31/19	§		4.66	b		1,033			3.37	c		0.60	c		3.53	c		31	b
Premier Class:	9/30/20	#		9.12	b		1,101			1.01	c		0.55	c		2.62	c		22
	3/31/20			2.79			1,022			1.37			0.60			3.00			37
	3/31/19	§		4.66	b		1,033			3.52	c		0.60	c		3.53	c		31	b
Retirement Class:	9/30/20	#		9.12	b		11,711			1.11	c		0.55	c		2.62	c		22
	3/31/20			2.77			6,457			1.47			0.62			2.96			37
	3/31/19	§		4.65	b		1,620			3.54	c		0.62	c		3.60	c		31	b
Retail Class:	9/30/20	#		9.03	b		4,636			1.20	c		0.73	c		2.44	c		22
	3/31/20			2.69			2,816			1.59			0.71			2.87			37
	3/31/19	§		4.62	b		1,403			3.92	c		0.71	c		3.50	c		31	b

See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 81

Financial highlights

TIAA-CREF Funds

			Selected per share data
					Gain (loss) from investment operations
	For the		Net asset		Net			Net realized and			Total gain			Less distributions from					Total			Net asset
	period		value,		investment			unrealized gain			(loss) from			Net			Net		dividends			value,
	or year		beginning		income			(loss) on total			investment			investment			realized		and			end of
	ended		of period		(loss		)a	investments			operations			income			gains		distributions			period
HIGH-YIELD FUND
Institutional Class:	9/30/20	#	$	8.36	$	0.24		$	0.85		$	1.09			$(0.24	)	$	—		$(0.24	)	$	9.21
	3/31/20			9.61		0.54			(1.25	)		(0.71	)		(0.54	)		—		(0.54	)		8.36
	3/31/19			9.56		0.56			0.05			0.61			(0.56	)		—		(0.56	)		9.61
	3/31/18			9.80		0.51			(0.24	)		0.27			(0.51	)		—		(0.51	)		9.56
	3/31/17			9.02		0.56			0.78			1.34			(0.56	)		—		(0.56	)		9.80
	3/31/16			9.94		0.55			(0.92	)		(0.37	)		(0.55	)		—		(0.55	)		9.02
Advisor Class:	9/30/20	#		8.35		0.23			0.85			1.08			(0.23	)		—		(0.23	)		9.20
	3/31/20			9.60		0.53			(1.25	)		(0.72	)		(0.53	)		—		(0.53	)		8.35
	3/31/19			9.56		0.55			0.03			0.58			(0.54	)		—		(0.54	)		9.60
	3/31/18			9.80		0.49			(0.23	)		0.26			(0.50	)		—		(0.50	)		9.56
	3/31/17			9.01		0.53			0.81			1.34			(0.55	)		—		(0.55	)		9.80
	3/31/16	‡		9.17		0.18			(0.16	)		0.02			(0.18	)		—		(0.18	)		9.01
Premier Class:	9/30/20	#		8.37		0.23			0.85			1.08			(0.23	)		—		(0.23	)		9.22
	3/31/20			9.62		0.53			(1.25	)		(0.72	)		(0.53	)		—		(0.53	)		8.37
	3/31/19			9.57		0.54			0.05			0.59			(0.54	)		—		(0.54	)		9.62
	3/31/18			9.81		0.49			(0.24	)		0.25			(0.49	)		—		(0.49	)		9.57
	3/31/17			9.02		0.54			0.79			1.33			(0.54	)		—		(0.54	)		9.81
	3/31/16			9.94		0.53			(0.91	)		(0.38	)		(0.54	)		—		(0.54	)		9.02
Retirement Class:	9/30/20	#		8.36		0.23			0.85			1.08			(0.23	)		—		(0.23	)		9.21
	3/31/20			9.61		0.52			(1.25	)		(0.73	)		(0.52	)		—		(0.52	)		8.36
	3/31/19			9.57		0.53			0.04			0.57			(0.53	)		—		(0.53	)		9.61
	3/31/18			9.81		0.48			(0.24	)		0.24			(0.48	)		—		(0.48	)		9.57
	3/31/17			9.02		0.53			0.79			1.32			(0.53	)		—		(0.53	)		9.81
	3/31/16			9.94		0.52			(0.91	)		(0.39	)		(0.53	)		—		(0.53	)		9.02
Retail Class:	9/30/20	#		8.39		0.23			0.86			1.09			(0.23	)		—		(0.23	)		9.25
	3/31/20			9.65		0.52			(1.26	)		(0.74	)		(0.52	)		—		(0.52	)		8.39
	3/31/19			9.61		0.53			0.04			0.57			(0.53	)		—		(0.53	)		9.65
	3/31/18			9.85		0.48			(0.24	)		0.24			(0.48	)		—		(0.48	)		9.61
	3/31/17			9.06		0.53			0.79			1.32			(0.53	)		—		(0.53	)		9.85
	3/31/16			9.98		0.52			(0.91	)		(0.39	)		(0.53	)		—		(0.53	)		9.06
Class W	:9/30/20	#		8.36		0.25			0.85			1.10			(0.25	)		—		(0.25	)		9.21
	3/31/20			9.61		0.57			(1.25	)		(0.68	)		(0.57	)		—		(0.57	)		8.36
	3/31/19	††		9.66		0.30			(0.05	)		0.25			(0.30	)		—		(0.30	)		9.61
INFLATION-LINKED BOND FUND
Institutional Class:	9/30/20	#		11.54		0.06			0.63			0.69			(0.04	)		—		(0.04	)		12.19
	3/31/20			11.29		0.29			0.20			0.49			(0.24	)		—		(0.24	)		11.54
	3/31/19			11.28		0.24			0.05			0.29			(0.28	)		—		(0.28	)		11.29
	3/31/18			11.48		0.23			(0.20	)		0.03			(0.23	)		—		(0.23	)		11.28
	3/31/17			11.53		0.27			(0.14	)		0.13			(0.18	)		—		(0.18	)		11.48
	3/31/16			11.52		0.16			(0.11	)		0.05			(0.04	)		—		(0.04	)		11.53
Advisor Class:	9/30/20	#		11.55		0.06			0.63			0.69			(0.04	)		—		(0.04	)		12.20
	3/31/20			11.29		0.21			0.28			0.49			(0.23	)		—		(0.23	)		11.55
	3/31/19			11.28		0.16			0.12			0.28			(0.27	)		—		(0.27	)		11.29
	3/31/18			11.48		0.21			(0.20	)		0.01			(0.21	)		—		(0.21	)		11.28
	3/31/17			11.53		0.30			(0.18	)		0.12			(0.17	)		—		(0.17	)		11.48
	3/31/16	‡		11.24		(0.04	)		0.37			0.33			(0.04	)		—		(0.04	)		11.53
Premier Class:	9/30/20	#		11.52		0.06			0.63			0.69			(0.04	)		—		(0.04	)		12.17
	3/31/20			11.26		0.28			0.20			0.48			(0.22	)		—		(0.22	)		11.52
	3/31/19			11.25		0.21			0.06			0.27			(0.26	)		—		(0.26	)		11.26
	3/31/18			11.45		0.22			(0.21	)		0.01			(0.21	)		—		(0.21	)		11.25
	3/31/17			11.50		0.25			(0.14	)		0.11			(0.16	)		—		(0.16	)		11.45
	3/31/16			11.49		0.12			(0.09	)		0.03			(0.02	)		—		(0.02	)		11.50
Retirement Class:	9/30/20	#		11.63		0.05			0.64			0.69			(0.03	)		—		(0.03	)		12.29
	3/31/20			11.36		0.28			0.19			0.47			(0.20	)		—		(0.20	)		11.63
	3/31/19			11.36		0.17			0.09			0.26			(0.26	)		—		(0.26	)		11.36
	3/31/18			11.56		0.21			(0.21	)		—			(0.20	)		—		(0.20	)		11.36
	3/31/17			11.61		0.24			(0.14	)		0.10			(0.15	)		—		(0.15	)		11.56
	3/31/16			11.60		0.14			(0.11	)		0.03			(0.02	)		—		(0.02	)		11.61
Retail Class:	9/30/20	#		11.25		0.04			0.62			0.66			(0.03	)		—		(0.03	)		11.88
	3/31/20			10.99		0.23			0.23			0.46			(0.20	)		—		(0.20	)		11.25
	3/31/19			11.00		0.16			0.08			0.24			(0.25	)		—		(0.25	)		10.99
	3/31/18			11.20		0.19			(0.20	)		(0.01	)		(0.19	)		—		(0.19	)		11.00
	3/31/17			11.25		0.23			(0.14	)		0.09			(0.14	)		—		(0.14	)		11.20
	3/31/16			11.24		0.14			(0.12	)		0.02			(0.01	)		—		(0.01	)		11.25
Class W:	9/30/20	#		11.54		0.08			0.63			0.71			(0.06	)		—		(0.06	)		12.19
	3/31/20			11.29		0.31			0.21			0.52			(0.27	)		—		(0.27	)		11.54
	3/31/19	††		11.13		0.02			0.26			0.28			(0.12	)		—		(0.12	)		11.29

82 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements

continued

						Ratios and supplemental data
	For the
	period					Net assets at			Ratios to average net assets									Portfolio
	or year					end of period			Gross			Net			Net investment			turnover
	ended		Total return			(in thousands		)	expenses			expenses			income (loss		)	rate
HIGH-YIELD FUND
Institutional Class:	9/30/20	#		13.11	%b	$	2,594,327			0.35	%c		0.34	%c		5.28	%c		39	%
	3/31/20			(7.96	)		2,281,685			0.36			0.35			5.63			42
	3/31/19			6.58			3,105,793			0.36			0.36			5.86			45
	3/31/18			2.72			2,844,390			0.36			0.36			5.19			40
	3/31/17			15.24			2,417,175			0.36			0.36			5.81			52
	3/31/16			(3.84	)		2,253,957			0.36			0.36			5.86			50
Advisor Class:	9/30/20	#		13.07	b		6,243			0.45	c		0.43	c		5.14	c		39
	3/31/20			(8.08	)		4,669			0.47			0.47			5.50			42
	3/31/19			6.34			13,910			0.47			0.47			5.80			45
	3/31/18			2.62			5,199			0.46			0.46			5.03			40
	3/31/17			15.17			5,133			0.43			0.43			5.55			52
	3/31/16	‡		0.23	b		102			0.58	c		0.51	c		6.31	c		50
Premier Class:	9/30/20	#		13.02	b		21,042			0.50	c		0.49	c		5.15	c		39
	3/31/20			(8.09	)		19,372			0.51			0.50			5.49			42
	3/31/19			6.41			32,528			0.51			0.51			5.54			45
	3/31/18			2.57			130,399			0.51			0.51			5.02			40
	3/31/17			15.06			144,573			0.51			0.51			5.64			52
	3/31/16			(3.87	)		73,106			0.51			0.51			5.80			50
Retirement Class:	9/30/20	#		12.97	b		314,645			0.60	c		0.59	c		5.05	c		39
	3/31/20			(8.19	)		294,164			0.61			0.60			5.39			42
	3/31/19			6.20			385,205			0.61			0.61			5.60			45
	3/31/18			2.47			418,842			0.61			0.61			4.93			40
	3/31/17			14.95			361,397			0.61			0.61			5.55			52
	3/31/16			(3.97	)		248,713			0.61			0.61			5.61			50
Retail Class:	9/30/20	#		13.03	b		278,525			0.65	c		0.63	c		5.01	c		39
	3/31/20			(8.27	)		268,804			0.64			0.63			5.35			42
	3/31/19			6.17			324,373			0.63			0.63			5.55			45
	3/31/18			2.47			623,780			0.62			0.62			4.91			40
	3/31/17			15.01			620,629			0.63			0.63			5.53			52
	3/31/16			(4.06	)		441,569			0.63			0.63			5.55			50
Class W:	9/30/20	#		13.30	b		516,529			0.35	c		0.00	c		5.60	c		39
	3/31/20			(7.64	)		378,659			0.36			0.00			6.00			42
	3/31/19	††		2.69	b		290,227			0.36	c		0.00	c		6.38	c		45
INFLATION-LINKED BOND FUND
Institutional Class:	9/30/20	#		6.03	b		1,367,813			0.25	c		0.23	c		0.91	c		11
	3/31/20			4.36			1,692,282			0.26			0.24			2.56			26
	3/31/19			2.67			1,634,250			0.26			0.26			2.12			21
	3/31/18			0.23			2,542,095			0.26			0.26			2.05			17
	3/31/17			1.12			2,163,413			0.26			0.26			2.31			28
	3/31/16			0.41			1,903,233			0.27			0.27			1.45			27
Advisor Class:	9/30/20	#		5.97	b		134,414			0.34	c		0.32	c		0.92	c		11
	3/31/20			4.38			141,821			0.34			0.32			1.79			26
	3/31/19			2.52			300			0.36			0.36			1.47			21
	3/31/18			0.12			270			0.42			0.41			1.88			17
	3/31/17			1.08			225			0.28			0.28			2.62			28
	3/31/16	‡		2.90	b		103			0.48	c		0.42	c		(1.16	)c		27
Premier Class:	9/30/20	#		5.96	b		7,993			0.40	c		0.38	c		0.93	c		11
	3/31/20			4.26			3,068			0.41			0.39			2.42			26
	3/31/19			2.44			3,490			0.41			0.41			1.86			21
	3/31/18			0.08			10,811			0.41			0.41			1.90			17
	3/31/17			0.97			11,361			0.41			0.41			2.20			28
	3/31/16			0.31			10,486			0.42			0.42			1.10			27
Retirement Class:	9/30/20	#		5.93	b		187,639			0.50	c		0.48	c		0.78	c		11
	3/31/20			4.18			188,609			0.51			0.49			2.37			26
	3/31/19			2.31			222,321			0.51			0.51			1.50			21
	3/31/18			(0.03	)		231,263			0.51			0.51			1.81			17
	3/31/17			0.84			235,188			0.57			0.55			2.07			28
	3/31/16			0.22			217,000			0.52			0.52			1.20			27
Retail Class:	9/30/20	#		5.83	b		152,460			0.57	c		0.55	c		0.75	c		11
	3/31/20			4.07			149,027			0.57			0.55			2.06			26
	3/31/19			2.32			101,245			0.58			0.58			1.46			21
	3/31/18			(0.14	)		110,279			0.59			0.59			1.70			17
	3/31/17			0.83			121,954			0.58			0.58			2.03			28
	3/31/16			0.18			125,137			0.58			0.58			1.27			27
Class W:	9/30/20	#		6.14	b		1,506,152			0.25	c		0.00	c		1.35	c		11
	3/31/20			4.67			1,252,667			0.26			0.00			2.70			26
	3/31/19	††		2.56	b		1,132,698			0.26	c		0.00	c		0.31	c		21

See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 83

Financial highlights

TIAA-CREF Funds

			Selected per share data
					Gain (loss) from investment operations
	For the		Net asset		Net			Net realized and			Total gain		Less distributions from						Total			Net asset
	period		value,		investment			unrealized gain			(loss) from		Net			Net			dividends			value,
	or year		beginning		income			(loss) on total			investment		investment			realized			and			end of
	ended		of period		(loss		)a	investments			operations		income			gains			distributions			period
SHORT DURATION IMPACT BOND FUND
Institutional Class:	9/30/20	#	$	9.86	$	0.11		$	0.46			$0.57		$(0.11	)	$	—			$(0.11	)	$	10.32
	3/31/20			10.08		0.28			(0.17	)		0.11		(0.28	)		(0.05	)		(0.33	)		9.86
	3/31/19	§		10.00		0.12			0.08			0.20		(0.12	)		—			(0.12	)		10.08
Advisor Class:	9/30/20	#		9.86		0.11			0.46			0.57		(0.11	)		—			(0.11	)		10.32
	3/31/20			10.08		0.28			(0.17	)		0.11		(0.28	)		(0.05	)		(0.33	)		9.86
	3/31/19	§		10.00		0.11			0.08			0.19		(0.11	)		—			(0.11	)		10.08
Premier Class:	9/30/20	#		9.86		0.11			0.46			0.57		(0.11	)		—			(0.11	)		10.32
	3/31/20			10.08		0.27			(0.17	)		0.10		(0.27	)		(0.05	)		(0.32	)		9.86
	3/31/19	§		10.00		0.11			0.08			0.19		(0.11	)		—			(0.11	)		10.08
Retirement Class:	9/30/20	#		9.86		0.10			0.46			0.56		(0.10	)		—			(0.10	)		10.32
	3/31/20			10.08		0.25			(0.16	)		0.09		(0.26	)		(0.05	)		(0.31	)		9.86
	3/31/19	§		10.00		0.11			0.08			0.19		(0.11	)		—			(0.11	)		10.08
Retail Class:	9/30/20	#		9.86		0.10			0.46			0.56		(0.10	)		—			(0.10	)		10.32
	3/31/20			10.08		0.25			(0.17	)		0.08		(0.25	)		(0.05	)		(0.30	)		9.86
	3/31/19	§		10.00		0.11			0.08			0.19		(0.11	)		—			(0.11	)		10.08
SHORT-TERM BOND FUND
Institutional Class:	9/30/20	#		10.22		0.10			0.27			0.37		(0.10	)		—			(0.10	)		10.49
	3/31/20			10.29		0.27			(0.07	)		0.20		(0.27	)		—			(0.27	)		10.22
	3/31/19			10.25		0.26			0.04			0.30		(0.26	)		—			(0.26	)		10.29
	3/31/18			10.34		0.20			(0.08	)		0.12		(0.20	)		(0.01	)		(0.21	)		10.25
	3/31/17			10.34		0.19			—			0.19		(0.19	)		(0.00	)d		(0.19	)		10.34
	3/31/16			10.39		0.17			(0.05	)		0.12		(0.17	)		(0.00	)d		(0.17	)		10.34
Advisor Class:	9/30/20	#		10.21		0.09			0.27			0.36		(0.09	)		—			(0.09	)		10.48
	3/31/20			10.29		0.26			(0.08	)		0.18		(0.26	)		—			(0.26	)		10.21
	3/31/19			10.24		0.27			0.03			0.30		(0.25	)		—			(0.25	)		10.29
	3/31/18			10.34		0.20			(0.09	)		0.11		(0.20	)		(0.01	)		(0.21	)		10.24
	3/31/17			10.33		0.19			0.01			0.20		(0.19	)		(0.00	)d		(0.19	)		10.34
	3/31/16	‡		10.31		0.05			0.02			0.07		(0.05	)		(0.00	)d		(0.05	)		10.33
Premier Class:	9/30/20	#		10.23		0.09			0.27			0.36		(0.09	)		—			(0.09	)		10.50
	3/31/20			10.30		0.26			(0.07	)		0.19		(0.26	)		—			(0.26	)		10.23
	3/31/19			10.26		0.25			0.04			0.29		(0.25	)		—			(0.25	)		10.30
	3/31/18			10.35		0.18			(0.07	)		0.11		(0.19	)		(0.01	)		(0.20	)		10.26
	3/31/17			10.35		0.17			—			0.17		(0.17	)		(0.00	)d		(0.17	)		10.35
	3/31/16			10.40		0.16			(0.05	)		0.11		(0.16	)		(0.00	)d		(0.16	)		10.35
Retirement Class:	9/30/20	#		10.23		0.08			0.27			0.35		(0.08	)		—			(0.08	)		10.50
	3/31/20			10.30		0.25			(0.07	)		0.18		(0.25	)		—			(0.25	)		10.23
	3/31/19			10.26		0.24			0.04			0.28		(0.24	)		—			(0.24	)		10.30
	3/31/18			10.35		0.17			(0.07	)		0.10		(0.18	)		(0.01	)		(0.19	)		10.26
	3/31/17			10.35		0.16			—			0.16		(0.16	)		(0.00	)d		(0.16	)		10.35
	3/31/16			10.40		0.15			(0.05	)		0.10		(0.15	)		(0.00	)d		(0.15	)		10.35
Retail Class:	9/30/20	#		10.23		0.08			0.27			0.35		(0.08	)		—			(0.08	)		10.50
	3/31/20			10.30		0.24			(0.07	)		0.17		(0.24	)		—			(0.24	)		10.23
	3/31/19			10.26		0.23			0.04			0.27		(0.23	)		—			(0.23	)		10.30
	3/31/18			10.35		0.17			(0.08	)		0.09		(0.17	)		(0.01	)		(0.18	)		10.26
	3/31/17			10.34		0.16			0.01			0.17		(0.16	)		(0.00	)d		(0.16	)		10.35
	3/31/16			10.40		0.14			(0.06	)		0.08		(0.14	)		(0.00	)d		(0.14	)		10.34
Class W:	9/30/20	#		10.22		0.11			0.27			0.38		(0.11	)		—			(0.11	)		10.49
	3/31/20			10.29		0.30			(0.07	)		0.23		(0.30	)		—			(0.30	)		10.22
	3/31/19	††		10.20		0.15			0.09			0.24		(0.15	)		—			(0.15	)		10.29

84 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements

continued

						Ratios and supplemental data
																					Portfolio
	For the																				turnover rate
	period					Net assets at			Ratios to average net assets									Portfolio			excluding
	or year					end of period			Gross			Net			Net investment			turnover			mortgage
	ended		Total return			(in thousands		)	expenses			expenses			income (loss		)	rate			dollar rolls
SHORT DURATION IMPACT BOND FUND
Institutional Class:	9/30/20	#		5.84	%b	$	23,556			0.93	%c		0.35	%c		2.23	%c		75	%		75	%
	3/31/20			1.08			22,112			1.18			0.35			2.77			103			103
	3/31/19	§		1.99	b		22,599			2.89	c		0.35	c		3.17	c		39	b		39	b
Advisor Class:	9/30/20	#		5.84	b		1,083			0.93	c		0.35	c		2.23	c		75			75
	3/31/20			1.07			986			1.18			0.35			2.77			103			103
	3/31/19	§		1.93	b		1,008			3.27	c		0.50	c		3.01	c		39	b		39	b
Premier Class:	9/30/20	#		5.76	b		1,032			1.08	c		0.50	c		2.08	c		75			75
	3/31/20			0.93			986			1.34			0.50			2.62			103			103
	3/31/19	§		1.93	b		1,008			3.42	c		0.50	c		3.01	c		39	b		39	b
Retirement Class:	9/30/20	#		5.71	b		4,060			1.18	c		0.60	c		1.98	c		75			75
	3/31/20			0.83			3,260			1.43			0.60			2.51			103			103
	3/31/19	§		1.90	b		1,095			3.50	c		0.60	c		2.91	c		39	b		39	b
Retail Class:	9/30/20	#		5.71	b		1,524			1.29	c		0.60	c		1.98	c		75			75
	3/31/20			0.74			1,233			1.61			0.68			2.44			103			103
	3/31/19	§		1.87	b		1,118			3.85	c		0.68	c		2.84	c		39	b		39	b
SHORT-TERM BOND FUND
Institutional Class:	9/30/20	#		3.60	b		702,335			0.27	c		0.27	c		1.85	c		91			90
	3/31/20			1.95			616,292			0.27			0.27			2.63			139			139
	3/31/19			2.99			902,950			0.27			0.27			2.52			118			118
	3/31/18			1.14			1,462,512			0.27			0.27			1.95			77			77
	3/31/17			1.84			1,606,917			0.27			0.27			1.81			103			103
	3/31/16			1.18			1,282,105			0.27			0.27			1.66			93			93
Advisor Class:	9/30/20	#		3.56	b		184,641			0.35	c		0.35	c		1.77	c		91			90
	3/31/20			1.76			169,158			0.35			0.35			2.51			139			139
	3/31/19			3.00			7,875			0.40			0.40			2.72			118			118
	3/31/18			1.02			286			0.29			0.29			1.98			77			77
	3/31/17			1.94			100			0.28			0.28			1.81			103			103
	3/31/16	‡		0.72	b		100			0.50	c		0.43	c		1.62	c		93			93
Premier Class:	9/30/20	#		3.52	b		5,138			0.42	c		0.42	c		1.70	c		91			90
	3/31/20			1.80			4,195			0.42			0.42			2.50			139			139
	3/31/19			2.83			8,522			0.42			0.42			2.39			118			118
	3/31/18			0.99			11,705			0.42			0.42			1.78			77			77
	3/31/17			1.69			14,966			0.42			0.42			1.66			103			103
	3/31/16			1.03			11,709			0.42			0.42			1.51			93			93
Retirement Class:	9/30/20	#		3.47	b		145,622			0.52	c		0.52	c		1.59	c		91			90
	3/31/20			1.70			112,810			0.52			0.52			2.37			139			139
	3/31/19			2.73			110,523			0.52			0.52			2.31			118			118
	3/31/18			0.89			100,591			0.52			0.52			1.69			77			77
	3/31/17			1.59			107,016			0.52			0.52			1.57			103			103
	3/31/16			0.93			97,057			0.52			0.52			1.41			93			93
Retail Class:	9/30/20	#		3.44	b		170,929			0.57	c		0.57	c		1.55	c		91			90
	3/31/20			1.65			173,174			0.57			0.57			2.31			139			139
	3/31/19			2.67			111,808			0.58			0.58			2.24			118			118
	3/31/18			0.84			126,010			0.57			0.57			1.65			77			77
	3/31/17			1.62			130,393			0.58			0.58			1.50			103			103
	3/31/16			0.78			138,591			0.58			0.58			1.35			93			93
Class W:	9/30/20	#		3.74	b		859,533			0.27	c		0.00	c		2.11	c		91			90
	3/31/20			2.22			734,717			0.27			0.00			2.90			139			139
	3/31/19	††		2.38	b		843,472			0.27	c		0.00	c		2.96	c		118			118

See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 85

Financial highlights

TIAA-CREF Funds

			Selected per share data
					Gain (loss) from investment operations
	For the		Net asset		Net			Net realized and			Total gain			Less distributions from						Total			Net asset
	period		value,		investment			unrealized gain			(loss) from			Net			Net			dividends			value,
	or year		beginning		income			(loss) on total			investment			investment			realized			and			end of
	ended		of period		(loss		)a	investments			operations			income			gains			distributions			period
SHORT-TERM BOND INDEX FUND
Institutional Class:	9/30/20	#	$	10.12	$	0.08		$	0.05		$	0.13			$(0.08	)	$	—			$(0.08	)	$	10.17
	3/31/20			9.91		0.22			0.21			0.43			(0.22	)		—			(0.22	)		10.12
	3/31/19			9.84		0.20			0.08			0.28			(0.21	)		—			(0.21	)		9.91
	3/31/18			9.97		0.14			(0.13	)		0.01			(0.14	)		—			(0.14	)		9.84
	3/31/17			10.03		0.10			(0.06	)		0.04			(0.10	)		—			(0.10	)		9.97
	3/31/16	^		10.00		0.05			0.03			0.08			(0.05	)		(0.00	)d		(0.05	)		10.03
Advisor Class:	9/30/20	#		10.12		0.07			0.05			0.12			(0.07	)		—			(0.07	)		10.17
	3/31/20			9.91		0.21			0.21			0.42			(0.21	)		—			(0.21	)		10.12
	3/31/19			9.84		0.20			0.07			0.27			(0.20	)		—			(0.20	)		9.91
	3/31/18			9.97		0.13			(0.13	)		—			(0.13	)		—			(0.13	)		9.84
	3/31/17			10.03		0.10			(0.06	)		0.04			(0.10	)		—			(0.10	)		9.97
	3/31/16	‡		9.97		0.02			0.06			0.08			(0.02	)		(0.00	)d		(0.02	)		10.03
Premier Class:	9/30/20	#		10.12		0.07			0.05			0.12			(0.07	)		—			(0.07	)		10.17
	3/31/20			9.90		0.21			0.22			0.43			(0.21	)		—			(0.21	)		10.12
	3/31/19			9.83		0.20			0.07			0.27			(0.20	)		—			(0.20	)		9.90
	3/31/18			9.97		0.13			(0.14	)		(0.01	)		(0.13	)		—			(0.13	)		9.83
	3/31/17			10.03		0.09			(0.06	)		0.03			(0.09	)		—			(0.09	)		9.97
	3/31/16	^		10.00		0.04			0.03			0.07			(0.04	)		(0.00	)d		(0.04	)		10.03
Retirement Class:	9/30/20	#		10.12		0.07			0.05			0.12			(0.07	)		—			(0.07	)		10.17
	3/31/20			9.91		0.19			0.22			0.41			(0.20	)		—			(0.20	)		10.12
	3/31/19			9.84		0.19			0.07			0.26			(0.19	)		—			(0.19	)		9.91
	3/31/18			9.97		0.12			(0.13	)		(0.01	)		(0.12	)		—			(0.12	)		9.84
	3/31/17			10.03		0.08			(0.06	)		0.02			(0.08	)		—			(0.08	)		9.97
	3/31/16	^		10.00		0.04			0.03			0.07			(0.04	)		(0.00	)d		(0.04	)		10.03
Retail Class:	9/30/20	#		10.12		0.06			0.05			0.11			(0.06	)		—			(0.06	)		10.17
	3/31/20			9.91		0.19			0.21			0.40			(0.19	)		—			(0.19	)		10.12
	3/31/19			9.84		0.18			0.07			0.25			(0.18	)		—			(0.18	)		9.91
	3/31/18			9.97		0.11			(0.13	)		(0.02	)		(0.11	)		—			(0.11	)		9.84
	3/31/17			10.03		0.07			(0.06	)		0.01			(0.07	)		—			(0.07	)		9.97
	3/31/16	^		10.00		0.03			0.03			0.06			(0.03	)		(0.00	)d		(0.03	)		10.03
Class W:	9/30/20	#		10.12		0.09			0.05			0.14			(0.09	)		—			(0.09	)		10.17
	3/31/20			9.91		0.23			0.21			0.44			(0.23	)		—			(0.23	)		10.12
	3/31/19	††		9.80		0.12			0.11			0.23			(0.12	)		—			(0.12	)		9.91
MONEY MARKET FUND
Institutional Class:	9/30/20	#		1.00		0.00	d		—			0.00	d		0.00	d		—			0.00	d		1.00
	3/31/20			1.00		0.02			—			0.02			(0.02	)		—			(0.02	)		1.00
	3/31/19			1.00		0.02			—			0.02			(0.02	)		—			(0.02	)		1.00
	3/31/18			1.00		0.01			—			0.01			(0.01	)		—			(0.01	)		1.00
	3/31/17			1.00		0.00	d		—			0.00	d		0.00	d		—			0.00	d		1.00
	3/31/16			1.00		0.00	d		—			0.00	d		0.00	d		—			0.00	d		1.00
Advisor Class:	9/30/20	#		1.00		0.00	d		—			0.00	d		0.00	d		—			0.00	d		1.00
	3/31/20			1.00		0.02			—			0.02			(0.02	)		—			(0.02	)		1.00
	3/31/19			1.00		0.02			—			0.02			(0.02	)		—			(0.02	)		1.00
	3/31/18			1.00		0.01			—			0.01			(0.01	)		—			(0.01	)		1.00
	3/31/17			1.00		0.00	d		—			0.00	d		0.00	d		—			0.00	d		1.00
	3/31/16	‡		1.00		0.00	d		—			0.00	d		0.00	d		—			0.00	d		1.00
Premier Class:	9/30/20	#		1.00		0.00	d		—			0.00	d		0.00	d		—			0.00	d		1.00
	3/31/20			1.00		0.02			—			0.02			(0.02	)		—			(0.02	)		1.00
	3/31/19			1.00		0.02			—			0.02			(0.02	)		—			(0.02	)		1.00
	3/31/18			1.00		0.01			—			0.01			(0.01	)		—			(0.01	)		1.00
	3/31/17			1.00		0.00	d		—			0.00	d		0.00	d		—			0.00	d		1.00
	3/31/16			1.00		—			—			—			—			—			—			1.00
Retirement Class:	9/30/20	#		1.00		0.00	d		—			0.00	d		0.00	d		—			0.00	d		1.00
	3/31/20			1.00		0.02			—			0.02			(0.02	)		—			(0.02	)		1.00
	3/31/19			1.00		0.02			—			0.02			(0.02	)		—			(0.02	)		1.00
	3/31/18			1.00		0.01			—			0.01			(0.01	)		—			(0.01	)		1.00
	3/31/17			1.00		0.00	d		—			0.00	d		0.00	d		—			0.00	d		1.00
	3/31/16			1.00		—			—			—			—			—			—			1.00
Retail Class:	9/30/20	#		1.00		0.00	d		—			0.00	d		0.00	d		—			0.00	d		1.00
	3/31/20			1.00		0.02			—			0.02			(0.02	)		—			(0.02	)		1.00
	3/31/19			1.00		0.02			—			0.02			(0.02	)		—			(0.02	)		1.00
	3/31/18			1.00		0.01			—			0.01			(0.01	)		—			(0.01	)		1.00
	3/31/17			1.00		0.00	d		—			0.00	d		0.00	d		—			0.00	d		1.00
	3/31/16			1.00		—			—			—			—			—			—			1.00

86 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements

continued

						Ratios and supplemental data
	For the
	period					Net assets at			Ratios to average net assets									Portfolio
	or year					end of period			Gross			Net			Net investment			turnover
	ended		Total return			(in thousands		)	expenses			expenses			income (loss		)	rate
SHORT-TERM BOND INDEX FUND
Institutional Class:	9/30/20	#		1.31	%b	$	68,905			0.10	%c		0.10	%c		1.60	%c		27	%
	3/31/20			4.41			54,735			0.13			0.12			2.21			66
	3/31/19			2.92			43,990			0.15			0.06			2.05			61
	3/31/18			0.11			328,156			0.18			0.08			1.45			57
	3/31/17			0.44			165,909			0.25			0.12			1.05			61
	3/31/16	^		0.85	b		106,153			0.45	c		0.12	c		0.85	c		53	b
Advisor Class:	9/30/20	#		1.24	b		1,588			0.24	c		0.24	c		1.42	c		27
	3/31/20			4.25			645			0.27			0.27			2.09			66
	3/31/19			2.78			868			0.29			0.23			2.08			61
	3/31/18			(0.03	)		496			0.38			0.22			1.32			57
	3/31/17			0.44			171			0.25			0.12			1.05			61
	3/31/16	‡		0.85	b		101			0.67	c		0.27	c		0.77	c		53	b
Premier Class:	9/30/20	#		1.33	b		776			0.26	c		0.26	c		1.44	c		27
	3/31/20			4.25			621			0.28			0.27			2.06			66
	3/31/19			2.77			636			0.31			0.24			2.02			61
	3/31/18			(0.14	)		643			0.34			0.23			1.28			57
	3/31/17			0.28			362			0.41			0.27			0.85			61
	3/31/16	^		0.75	b		1,003			0.84	c		0.27	c		0.69	c		53	b
Retirement Class:	9/30/20	#		1.18	b		121,769			0.35	c		0.35	c		1.34	c		27
	3/31/20			4.15			83,232			0.38			0.37			1.96			66
	3/31/19			2.66			52,082			0.40			0.34			1.96			61
	3/31/18			(0.14	)		26,749			0.43			0.33			1.22			57
	3/31/17			0.19			10,687			0.50			0.37			0.80			61
	3/31/16	^		0.69	b		4,975			0.80	c		0.37	c		0.63	c		53	b
Retail Class:	9/30/20	#		1.14	b		4,398			0.44	c		0.44	c		1.26	c		27
	3/31/20			4.05			3,115			0.50			0.47			1.87			66
	3/31/19			2.56			2,652			0.58			0.44			1.84			61
	3/31/18			(0.24	)		1,990			0.64			0.44			1.06			57
	3/31/17			0.13			1,935			0.55			0.42			0.73			61
	3/31/16	^		0.62	b		1,742			1.02	c		0.47	c		0.50	c		53	b
Class W:	9/30/20	#		1.36	b		652,051			0.10	c		0.00	c		1.70	c		27
	3/31/20			4.53			532,333			0.13			0.00			2.33			66
	3/31/19	††		2.36	b		395,924			0.14	c		0.00	c		2.46	c		61	b
MONEY MARKET FUND
Institutional Class:	9/30/20	#		0.09	b		1,027,221			0.12	c		0.12	c		0.18	c		—
	3/31/20			1.87			1,089,417			0.13			0.13			1.83			—
	3/31/19			1.98			704,326			0.14			0.14			1.99			—
	3/31/18			0.96			487,762			0.15			0.15			0.95			—
	3/31/17			0.34			458,837			0.14			0.14			0.35			—
	3/31/16			0.09			339,325			0.14			0.14			0.09			—
Advisor Class:	9/30/20	#		0.15	b		1,167			0.02	c		0.02	c		0.29	c		—
	3/31/20			1.86			1,225			0.17			0.17			1.79			—
	3/31/19			1.94			1,426			0.23			0.23			2.14			—
	3/31/18			1.04			100			0.06			0.06			1.03			—
	3/31/17			0.29			100			0.19			0.19			0.29			—
	3/31/16	‡		0.02	b		100			0.36	c		0.29	c		0.08	c		—
Premier Class:	9/30/20	#		0.04	b		280,718			0.28	c		0.22	c		0.09	c		—
	3/31/20			1.73			441,375			0.28			0.28			1.51			—
	3/31/19			1.83			28,209			0.29			0.28			1.82			—
	3/31/18			0.80			44,548			0.29			0.29			0.82			—
	3/31/17			0.19			32,044			0.29			0.29			0.19			—
	3/31/16			0.00			25,222			0.29			0.24			0.00			—
Retirement Class:	9/30/20	#		0.04	b		360,194			0.37	c		0.23	c		0.08	c		—
	3/31/20			1.72			330,963			0.38			0.28			1.68			—
	3/31/19			1.83			210,963			0.39			0.29			1.86			—
	3/31/18			0.70			126,187			0.40			0.40			0.71			—
	3/31/17			0.09			109,765			0.39			0.39			0.09			—
	3/31/16			0.00			94,131			0.39			0.23			0.00			—
Retail Class:	9/30/20	#		0.02	b		329,493			0.46	c		0.27	c		0.04	c		—
	3/31/20			1.54			332,054			0.47			0.46			1.53			—
	3/31/19			1.66			309,452			0.48			0.45			1.65			—
	3/31/18			0.62			303,155			0.48			0.48			0.61			—
	3/31/17			0.03			318,718			0.49			0.45			0.03			—
	3/31/16			0.00			344,809			0.48			0.22			0.00			—

See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 87

Financial highlights concluded

TIAA-CREF Funds

#	Unaudited
^	The Fund commenced operations on August 7, 2015.
§	The Fund commenced operations on November 16, 2018.
‡	The Advisor Class commenced operations on December 4, 2015.
††	Class W commenced operations on September 28, 2018.
a	Based on average shares outstanding.
b	The percentages shown for this period are not annualized.
c	The percentages shown for this period are annualized.
d	Amount represents less than $0.01 per share.
f	Does not include in-kind transactions.

88 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements

Notes to financial statements

TIAA-CREF Funds

Note 1—organization

TIAA-CREF Funds (the “Trust”) is a Delaware statutory trust that is registered with the U.S. Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”), as an open-end management investment company. The following are the TIAA-CREF Funds included in this report: Bond Index Fund, Core Bond Fund, Core Impact Bond Fund, Core Plus Bond Fund, 5–15 Year Laddered Tax-Exempt Bond Fund, Green Bond Fund, High-Yield Fund, Inflation-Linked Bond Fund, Short Duration Impact Bond Fund, Short-Term Bond Fund, Short-Term Bond Index Fund, and the Money Market Fund (collectively the “Funds” or individually, the “Fund”). Effective March 1, 2020, Bond Fund, Bond Plus Fund, and Social Choice Bond Fund changed their names to Core Bond Fund, Core Plus Bond Fund, and Core Impact Bond Fund, respectively.

Teachers Advisors, LLC (“Advisors”), a wholly owned indirect subsidiary of Teachers Insurance and Annuity Association of America (“TIAA”), is registered with the SEC as an investment adviser and provides investment management services for the Funds.

The Funds offer their shares, without a sales load, through their principal underwriter, Nuveen Securities, LLC (“Nuveen Securities”), which is a wholly owned indirect subsidiary of TIAA.

The Funds offer up to six share classes, although any one Fund may not necessarily offer all six classes. The Funds may offer Institutional Class, Advisor Class, Premier Class, Retirement Class, Retail Class and Class W shares. Each class differs by the allocation of class-specific expenses and voting rights in matters affecting a single class.

Note 2—significant accounting policies

The accompanying financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”), which may require the use of estimates made by management and the evaluation of subsequent events. 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 net asset value (“NAV”) for financial reporting purposes may differ from the NAV for processing transactions. The NAV for financial reporting purposes includes security and shareholder transactions through the date of the report. Total return is computed based on the NAV used for processing transactions. The following is a summary of the significant accounting policies consistently followed by the Funds.

Investments and investment income: Securities transactions are accounted for as of the trade date for financial reporting purposes. Interest income is recorded on an accrual basis and includes accretion of discounts and amortization of premiums. Dividend income is recorded on the ex-dividend date. Foreign dividend income is recorded on the ex-dividend date or as soon as possible after the Funds determine the existence of a dividend declaration. Realized gains and losses on securities transactions are based upon the specific identification method.

Distributions received on securities that represent a return of capital or capital gains are recorded as a reduction of cost of investments and/or as a realized gain. The Funds estimate the components of distributions received that may be considered return of capital distributions or capital gain distributions.

Multiclass operations and allocations: Income, expenses, realized gains and losses and unrealized appreciation and depreciation of a Fund are allocated on a pro rata basis to each class of shares, except for service agreement fees, distribution fees and transfer agency fees and expenses, which are unique to each class of shares. Most expenses of the Trust can be directly attributed to a fund. Expenses that cannot be directly attributed are allocated to each fund in the Trust based upon the average net assets of each fund.

Distributions to shareholders: Distributions to shareholders are recorded on the ex-dividend date. The amount, character and timing of distributions are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP.

Foreign currency transactions and translation: The books and records of the Funds are maintained in U.S. dollars. Assets, including investments, and liabilities denominated in foreign currencies are translated into U.S. dollars at the end of each day. Purchases and sales of securities, income and expenses are translated into U.S. dollars at the prevailing exchange rate on the respective dates of the transactions.

Net realized foreign currency gains and losses resulting from changes in exchange rates associated with (i) foreign currency, (ii) investments and (iii) derivatives include foreign currency gains and losses between trade date and settlement date of the transactions, foreign currency transactions, and the difference between the amounts of interest and dividends recorded on the books of the Funds and the amounts actually received and are recognized as a component of “Net realized gain (loss) on total investments” on the Statements of operations, when applicable.

The unrealized gains and losses resulting from changes in foreign currency exchange rates and changes in foreign exchange rates associated with (i) investments and (ii) other assets and liabilities are recognized as a component of “Net change in unrealized appreciation (depreciation) on total investments and from affiliated investments” on the Statements of operations, when applicable. The unrealized gains and losses resulting from changes in foreign exchange rates associated with investments in derivatives are recognized as a component of the respective derivative’s related “Change in net unrealized appreciation (depreciation)” on the Statements of operations, when applicable.

Trustee compensation: The Funds pay the members of the Board of Trustees (“Board”), all of whom are independent, certain remuneration for their services, plus travel and other expenses. Trustees may elect to participate in a deferred compensation plan and defer all or a portion of their compensation. In addition, trustees participate in a long-term compensation plan. Amounts deferred are retained by the Funds until paid. Amounts payable to the trustees for compensation are included separately in the accompanying Statements of assets and liabilities. Trustees’ fees, including any deferred and long-term compensation incurred, are reflected in the Statements of operations.

TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 89

Notes to financial statements

Indemnification: Under the Trust’s organizational documents, its officers and directors are indemnified against certain liabilities arising out of the performance of their duties to the Trust. In addition, in the normal course of business, the Trust enters into contracts that provide general indemnifications to other parties. The Trust’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Trust that have not yet occurred. However, the Trust has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

Other matters: The outbreak of the novel coronavirus (“COVID-19”) and subsequent global pandemic began significantly impacting the U.S. and global financial markets and economies during the calendar quarter ended March 31, 2020. The worldwide spread of COVID-19 has created significant uncertainty in the global economy. The duration and extent of COVID-19 over the long term cannot be reasonably estimated at this time. The ultimate impact of COVID-19 and the extent to which COVID-19 impacts the Funds’ normal course of business, results of operations, investments, and cash flows will depend on future developments, which are highly uncertain and difficult to predict. Management continues to monitor and evaluate this situation.

New accounting pronouncements: In March 2020, FASB issued ASU 2020-04, Reference Rate Reform: Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The main objective of the new guidance is to provide relief to companies that will be impacted by the expected change in benchmark interest rates at the end of 2021, when participating banks will no longer be required to submit London Interbank Offered Rate (LIBOR) quotes by the UK Financial Conduct Authority (FCA). The new guidance allows companies to, provided the only changes to existing contracts are a change to an approved benchmark interest rate, account for modifications as a continuance of the existing contract without additional analysis. For new and existing contracts, the Accounts may elect to apply the optional expedients as of March 12, 2020 through December 31, 2022. Management has not yet elected to apply the optional expedients, but is currently assessing the impact of the ASU’s adoption to the Accounts’ financial statements and various filings.

Note 3—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)

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

Debt securities: Debt securities will generally be valued using prices provided by a pricing service that may employ various

indications of value including but not limited to broker-dealer quotations. Certain debt securities, other than money market instruments, are valued based on the most recent bid price or the equivalent quoted yield for such securities (or those of comparable maturity, quality and type). Debt securities are generally categorized as Level 2 of the fair value hierarchy; in instances where prices, yields or any other key inputs are unobservable, they are categorized as Level 3 of the hierarchy.

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

The Money Market Fund: The Money Market Fund’s portfolio securities are valued on an amortized cost basis. Money Market investments are generally categorized as Level 2 of the fair value hierarchy.

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.

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

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

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

Any portfolio security for which market quotations are not readily available or for which the above valuation procedures are deemed not to reflect fair value are valued at fair value, as determined in good faith using procedures approved by the Board. To the extent the inputs are observable and timely, the values would be categorized as Level 2 of the fair value hierarchy; otherwise they would be categorized as Level 3. As of September 30, 2020, 100% of the value of investments in the Bond Index Fund, Inflation-Linked Bond Fund, Short Duration Impact Bond Fund, Short-Term Bond Index Fund, and Money Market Fund were valued based on Level 2 inputs.

90 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

continued

The following table summarizes the market value of the Funds’ investments as of September 30, 2020, based on the inputs used to value them:

Fund	Level 1			Level 2			Level 3		Total
Core Bond
Bank loan obligations	$	–		$	139,675,463		$	–	$	139,675,463
Corporate bonds		–			3,216,047,457			2,049,250		3,218,096,707
Government bonds		–			2,717,296,365			975,015		2,718,271,380
Structured assets		–			1,236,894,100			18,020,448		1,254,914,548
Short-term investments		–			1,199,852,888			–		1,199,852,888
Forward foreign currency contracts**		–			45,514			–		45,514
Credit default swap contracts**		–			(208,144	)		–		(208,144	)
Total	$	–		$	8,509,603,643		$	21,044,713	$	8,530,648,356
Core Impact Bond
Bank loan obligations	$	–		$	7,479,292		$	–	$	7,479,292
Corporate bonds		–			2,368,860,433			–		2,368,860,433
Government bonds		–			2,770,409,697			4,856,318		2,775,266,015
Structured assets		–			536,715,699			6,374,711		543,090,410
Preferred stocks		41,072,630			–			–		41,072,630
Short-term investments		–			825,830,134			–		825,830,134
Forward foreign currency contracts**		–			2,998			–		2,998
Total	$	41,072,630		$	6,509,298,253		$	11,231,029	$	6,561,601,912
Core Plus Bond
Bank loan obligations	$	–		$	104,892,418		$	–	$	104,892,418
Corporate bonds		–			2,256,765,782			2,303,524		2,259,069,306
Government bonds		–			1,789,331,518			4,217,465		1,793,548,983
Structured assets		–			938,174,168			8,561,811		946,735,979
Common stocks		566,572			–			1,124		567,696
Preferred stocks		9,254,833			–			–		9,254,833
Short-term investments		–			658,921,578			–		658,921,578
Futures contracts**		(164,132	)		–			–		(164,132	)
Forward foreign currency contracts**		–			21,240			–		21,240
Total	$	9,657,273		$	5,748,106,704		$	15,083,924	$	5,772,847,901
5–15 Year Laddered Tax-Exempt Bond
Long-term municipal bonds	$	–		$	267,685,300		$	2,357,970	$	270,043,270
Total	$	–		$	267,685,300		$	2,357,970	$	270,043,270
Green Bond
Bank loan obligations	$	–		$	424,365		$	–	$	424,365
Corporate bonds		–			19,563,979			–		19,563,979
Government bonds		–			11,148,254			–		11,148,254
Structured assets		–			8,544,920			–		8,544,920
Preferred stocks		1,312,960			–			–		1,312,960
Short-term investments		–			2,120,000			–		2,120,000
Total	$	1,312,960		$	41,801,518		$	–	$	43,114,478
High-Yield
Bank loan obligations	$	–		$	216,813,464		$	–	$	216,813,464
Corporate bonds		–			3,344,205,380			837,584		3,345,042,964
Common stocks		3,798,410			–			80		3,798,490
Short-term investments		–			178,168,812			–		178,168,812
Total	$	3,798,410		$	3,739,187,656		$	837,664	$	3,743,823,730
Short-Term Bond
Bank loan obligations	$	–		$	35,101,076		$	–	$	35,101,076
Corporate bonds		–			704,797,367			–		704,797,367
Government bonds		–			853,093,554			–		853,093,554
Structured assets		–			422,722,837			5,507,023		428,229,860
Short-term investments		–			62,333,632			–		62,333,632
Futures contracts**		(259,037	)		–			–		(259,037	)
Total	$	(259,037	)	$	2,078,048,466		$	5,507,023	$	2,083,296,452

** Derivative instruments are not reflected in the market value of portfolio investments.

TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 91

Notes to financial statements

Note 4—investments

Mortgage dollar roll transactions: Some of the Funds may enter into mortgage dollar rolls in which a Fund sells mortgage securities for delivery in the current month, realizing a gain (loss), and simultaneously contracts to repurchase similar securities on a specified future date. During the roll period, a Fund forgoes principal and interest paid on the securities. The Fund is compensated by the interest earned on the cash proceeds of the initial sale and by the lower repurchase price at the future date. The difference between the sales proceeds and the repurchase price is recorded as a realized gain or loss.

Repurchase agreements: In connection with transactions in repurchase agreements, it is the Fund’s policy that its custodian take possession of the underlying collateral securities, the fair value of which exceeds the principal amount of the repurchase transaction, including accrued interest, at all times. If the counterparty defaults, and the fair value of the collateral declines, realization of the collateral may be delayed or limited.

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, as amended. The risk of investing in such securities is generally greater than the risk of investing in securities that are widely held and publicly traded.

Securities purchased on a when-issued or delayed-delivery basis: The Funds may purchase securities on a when-issued or delayed-delivery basis. Securities purchased or sold on a when-issued or delayed-delivery basis may have extended settlement periods; interest income is not accrued until settlement date. Any securities so purchased are subject to market fluctuation during this period. The Funds have segregated securities in their portfolios with a current value at least equal to the amount of the when-issued /delayed delivery purchase commitments.

Treasury inflation-protected securities: The Funds (other than the Money Market Fund) may invest in Treasury Inflation-Protected Securities, specially structured bonds in which the principal amount is adjusted periodically to keep pace with inflation, as measured by the U.S. Consumer Price Index. The adjustments for interest income due to inflation or deflation are reflected in interest income in the Statements of operations.

Zero coupon securities: A zero coupon security does not pay a regular interest coupon to its holders during the life of the security. Income to the holder of the security comes from accretion of the difference between the original purchase price of the security at issuance and the par value of the security at maturity and is effectively paid at maturity. The market prices of zero coupon securities generally are more volatile than the market prices of securities that pay interest periodically.

Purchases and sales: Purchases and sales of securities (other than short-term instruments) for all of the Funds for the period ended September 30, 2020 were as follows:

	Non-U.S.		U.S.		Non-U.S.		U.S.
	government		government		government		government
Fund	purchases		purchases		sales		sales
Bond Index	$	1,217,781,561	$	3,842,399,321	$	859,471,990	$	2,568,956,549
Core Bond		1,466,493,626		6,097,049,973		1,208,191,314		5,160,436,904
Core Impact Bond		1,889,546,161		6,719,448,442		2,414,435,534		5,481,174,186
Core Plus Bond		1,019,736,775		2,499,857,291		633,137,429		2,227,922,803
5–15 Year Laddered Tax-Exempt Bond		32,380,652		–		32,562,027		–
Green Bond		13,797,723		1,201,320		6,863,211		1,203,962
High-Yield		1,717,290,760		–		1,335,338,354		–
Inflation-Linked Bond		45,428		397,986,617		3,315,000		617,158,126
Short Duration Impact Bond		15,372,479		9,049,699		15,782,518		6,366,186
Short-Term Bond		503,837,644		1,486,811,487		368,072,048		1,338,217,798
Short-Term Bond Index		130,842,383		252,325,272		68,643,165		141,685,567

Note 5—derivative investments

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

At September 30, 2020, the following Funds have invested in derivative contracts which are reflected in the Statements of assets and liabilities as follows:

	Asset derivatives			Liabilities derivatives
		Fair value			Fair value
Derivative contracts	Location		amount	Location		amount
Core Bond Fund
Foreign-exchange contracts	Forward foreign currency contracts	$	45,514
Credit contracts				Credit default swap contracts*	$	(74,944	)
Core Impact Bond Fund
Foreign-exchange contracts	Forward foreign currency contracts		2,998
Core Plus Bond Fund
Interest-rate contracts				Futures contracts*		(161,884	)
Foreign-exchange contracts	Forward foreign currency contracts		21,240
Short-Term Bond Fund
Interest-rate contracts				Futures contracts*		(257,969	)

* The fair value presented includes cumulative gain (loss) on open futures contracts and centrally cleared swap contracts; however, the value reflected on the accompanying Statements of assets and liabilities is only the receivable or payable for variation margin on open futures and swap contracts.

92 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

continued

For the period ended September 30, 2020, the effect of derivative contracts on the Funds’ Statements of operations was as follows:

					Change in
					unrealized
		Realized			appreciation
Derivative contracts	Location	gain (loss		)	(depreciation		)
Core Bond Fund
Interest-rate contracts	Futures contracts	$	17,246		$	(15,514	)
Foreign-exchange contracts	Forward foreign currency contracts		(460,535	)		81,226
Credit contracts	Swap contracts		2,177,380			(645,508	)
Core Impact Bond Fund
Foreign-exchange contracts	Forward foreign currency contracts		(415,711	)		40,755
Core Plus Bond Fund
Interest-rate contracts	Futures contracts		424,653			(618,967	)
Foreign-exchange contracts	Forward foreign currency contracts		(544,993	)		70,572
Credit contracts	Swap contracts		(390,689	)		–
High-Yield Fund
Credit contracts	Swap contracts		(40,129	)		–
Short-Term Bond Fund
Interest-rate contracts	Futures contracts		(1,034,956	)		710,219

Futures contracts: Certain Funds are subject to interest rate and foreign exchange risk in the normal course of pursuing their investment objectives. The Funds use futures contracts to manage exposure to the bond and foreign exchange markets and to fluctuations in interest and foreign exchange rates. Buying futures contracts tends to increase exposure to the underlying instrument/index, while selling futures contracts tends to decrease exposure to the underlying instrument/index or hedge other investments. Initial margin deposits are made upon entering into a futures contract, and variation margin receipts or payments are settled daily reflecting changes in the value of the futures contracts. Daily changes in the value of such contracts are reflected in net unrealized gains and losses. Gains or losses are realized upon the expiration or closing of the futures contracts or if the counterparties do not perform in accordance with contractual provisions. With futures contracts, there is minimal counterparty credit risk to the Funds since futures contracts are exchange-traded and the exchange’s clearinghouse, as counterparty to all exchange-traded funds, guarantees the futures contracts against default. During the period ended September 30, 2020, the Core Plus Bond Fund and Short-Term Bond Fund had exposure to futures contracts, based on underlying notional values, generally between 0% and 5% of net assets. The futures contracts outstanding as of September 30, 2020 are disclosed in the Summary portfolio of investments and the full Schedules of investments.

Forward foreign currency contracts: Certain Funds are subject to foreign exchange risk in the normal course of pursuing their investment objectives. The Funds use forward foreign currency contracts (“forwards”), including non-deliverable forwards (“NDFs”), to, among other things, hedge portfolio currency risk and to facilitate transactions in securities denominated in foreign currencies. Forwards are over-the counter (“OTC”) commitments that involve an obligation to purchase or sell a fixed amount of a specific currency on a future date at a locked exchange rate. NDFs allow hedging of currencies where

government regulations restrict foreign access to local currency or the parties want to compensate for risk without a physical exchange of funds. Forwards are marked-to-market daily at the applicable foreign exchange rate, and any resulting unrealized gains or losses are recorded as appreciation or depreciation in the Statements of assets and liabilities. The Funds realize gains and losses at the time the forward is closed. Realized and unrealized gains and losses are included in the Statements of operations. Risks may arise upon entering into these contracts from the potential inability of counterparties to meet the terms of their contracts; from unanticipated movements in the value of a foreign currency relative to the U.S. dollar; and that losses may exceed amounts recognized on the Statements of assets and liabilities. During the period ended September 30, 2020, the Core Bond Fund, Core Impact Bond Fund, and Core Plus Bond Fund had exposure to forwards contracts, based on underlying notional values, generally between 0% and 1% of net assets. The forward contracts outstanding as of September 30, 2020 are disclosed in the Summary portfolio of investments and the full Schedules of investments.

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

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

The value of a bilateral swap included in net assets is the unrealized gain or loss of the contract plus or minus any unamortized premiums paid or received, respectively. Appreciated swaps and premiums paid are reflected as assets, while depreciated swaps and premiums received are reflected as liabilities on the Statements of assets and liabilities.

TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 93

Notes to financial statements

Centrally cleared swaps initial margin deposits are made, and variation margin payments are made or received reflecting daily changes in the value of the swap contract. The daily fluctuation in fair value is accounted for as a variation margin receivable or payable on the Statements of assets and liabilities.

Under the terms of the credit default swap contracts, the Funds receive or make quarterly payments based on a payment rate on a fixed notional amount. These payments are recorded as a realized gain or loss in the Statements of operations. Payments received or made as a result of a credit event or termination of the contract are recognized as realized gains or losses. Daily changes in the value of such contracts are reflected in net unrealized gains and losses.

The Funds (other than the Money Market Fund) invest in credit default swaps to hedge or manage the risks associated with assets held in the Funds and/or to facilitate the implementation of portfolio strategies to seek to increase the total return. During the period ended September 30, 2020, the Core Bond Fund, and High-Yield Fund had exposure to credit default swap contracts, based on underlying notional values, generally between 0% and 1% of net assets. The credit default swap contracts outstanding as of September 30, 2020 are disclosed in the Summary portfolio of investments and the full Schedule of investments.

Note 6—income tax and other tax matters

Income taxes: Each Fund is treated separately for income tax purposes. The Funds intend to continue to qualify as regulated investment companies under Subchapter M of the Internal Revenue Code (“Code”) and will not be subject to income taxes to the extent that they distribute all taxable income each year and comply with various other Code requirements. The Funds file income tax returns in U.S. federal and applicable state and local jurisdictions. A fund’s federal income tax returns are generally subject to examination for a period of three fiscal years after being filed. State and local tax returns may be subject to examination for an additional period of time depending on the jurisdiction. Management has analyzed the Funds’ tax positions taken for all open federal income tax years and has concluded that no provision for federal income tax is required in the Funds’ financial statements.

The timing and character of income and capital gain distributions are determined in accordance with income tax regulations, which may differ from U.S. GAAP. Reclassifications are made to a Fund’s capital accounts for permanent tax differences to reflect income and gains available for distribution (or available capital loss carryforwards) under income tax regulations.

Foreign taxes: The Funds may be subject to foreign taxes on income, gains on investments or currency repatriation, a portion of which may be recoverable. The Funds will accrue such taxes and recoveries as applicable, based upon the current interpretation of tax rules and regulations that exist in the markets in which the Funds invest.

Net unrealized appreciation (depreciation): At September 30, 2020, 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:

								Net
			Gross		Gross			unrealized
	Tax		unrealized		unrealized			appreciation
Fund	cost		appreciation		(depreciation		)	(depreciation		)
Bond Index	$	16,583,464,968	$	1,267,234,589	$	(19,372,732	)	$	1,247,861,857
Core Bond		8,187,240,798		394,445,576		(51,038,018	)		343,407,558
Core Impact Bond		6,381,593,725		214,715,836		(34,707,649	)		180,008,187
Core Plus Bond		5,607,107,522		225,650,492		(59,910,113	)		165,740,379
5–15 Year Laddered Tax-Exempt Bond		257,766,661		14,752,752		(2,476,143	)		12,276,609
Green Bond		41,063,844		2,276,562		(225,928	)		2,050,634
High-Yield		3,744,162,857		120,495,556		(120,834,683	)		(339,127	)
Inflation-Linked Bond		3,086,926,687		268,339,526		(636,030	)		267,703,496
Short Duration Impact Bond		30,587,723		760,868		(122,823	)		638,045
Short-Term Bond		2,063,928,461		36,245,889		(16,877,898	)		19,367,991
Short-Term Bond Index		839,536,653		13,934,316		(184,953	)		13,749,363

For purposes of this disclosure, tax cost generally includes the cost of portfolio investments as well as up-front 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.

Distributions to shareholders: The tax character of distributions paid to shareholders during the year ended March 31, 2020 was as follows:

	Ordinary		Long-term
Fund	income		capital gains		Total
Bond Index	$	426,960,742	$	–	$	426,960,742
Core Bond		203,596,231		–		203,596,231
Core Impact Bond		141,039,553		2,331,063		143,370,616
Core Plus Bond		148,054,559		–		148,054,559
5–15 Year Laddered Tax-Exempt Bond*		6,414,050		300,993		6,715,043
Green Bond		1,205,000		–		1,205,000
High-Yield		212,704,986		–		212,704,986
Inflation-Linked Bond		72,093,009		–		72,093,009
Short Duration Impact Bond		908,482		–		908,482
Short-Term Bond		57,680,033		–		57,680,033
Short-Term Bond Index		13,803,727		–		13,803,727
Money Market		25,742,822		–		25,742,822

* Includes ordinary income which will not be taxable for federal income tax purposes in 2020 of $5,957,902.

The tax character of the fiscal year 2021 distributions will be determined at the end of the fiscal year.

Note 7—investment adviser and other transactions with affiliates

Under the terms of the Investment Management Agreement with respect to each Fund, Advisors provides asset management services to the Fund for an annual fee, payable monthly. The Funds have entered into an Administrative Service Agreement with Advisors under which the Funds pay Advisors for its costs in providing certain administrative and compliance services to the Funds.

Under the terms of a Retirement Class Service Agreement with respect to each Fund, the Retirement Class of the Fund incurs an annual fee, payable monthly to Advisors, for certain administrative costs associated with the maintenance of

94 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

continued

Retirement Class shares on retirement plan or other platforms. Substantially all of the Retirement Class shareholder servicing fees reported on the Statements of operations are paid to Advisors under the Service Agreement.

Under the terms of a distribution Rule 12b-1 plan, the Retail Class of each Fund compensates Nuveen Securities for providing distribution, promotional and/or shareholder services to the Retail Class of the Fund at the annual rate of 0.25% of the average daily net assets attributable to the Fund’s Retail Class. The Premier Class of each Fund is subject to a distribution Rule 12b-1 plan that compensates Nuveen Securities for providing distribution, promotional and/or shareholder services to the Premier Class of the Fund at the annual rate of 0.15% of the average daily net assets attributable to the Fund’s Premier Class.

Advisors has contractually agreed to waive and/or reimburse Class W’s shares’ Management fees and Other expenses

(excluding interest, taxes, brokerage commissions or other transactional expenses, acquired fund fees and expenses, trustee expenses and extraordinary expenses) in their entirety. Advisors expects this waiver and/or reimbursement to remain in effect indefinitely, unless changed or terminated with approval of the Board of Trustees. The Management fees and Other expenses of Class W shares that have been waived by Advisors may be incurred directly or indirectly, all or in part, by investors in Class W shares.

Advisors has agreed to reimburse each Fund if its total expense ratio (excluding interest, taxes, brokerage commissions and other transactional expenses, acquired fund fees and expenses and extraordinary expenses) exceeds certain percentages. As of September 30, 2020, the investment management fee, service agreement fee, distribution fee and maximum expense amounts (after waivers and reimbursements) are equal to the following noted annual percentage of average daily net assets for each class:

	Investment management fee range			Investment management fee-effective rate			Service agreement fee			Distribution fee						Maximum expense amounts‡
							Retirement			Premier			Retail			Institutional			Advisor			Premier			Retirement			Retail			Class
Fund							Class			Class			Class			Class			Class			Class			Class			Class			W		§
Bond Index		0.10	%		0.10	%		0.25	%		0.15	%		0.25	%		0.13	%		0.28	%		0.28	%		0.38	%		0.48	%		0.13	%
Core Bond*		0.25–0.30			0.28			0.25			0.15			0.25			0.35			0.50			0.50			0.60			0.70			0.35
Core Impact Bond*		0.30–0.35			0.33			0.25			0.15			0.25			0.40			0.55			0.55			0.65			0.75			–
Core Plus Bond*		0.25–0.30			0.28			0.25			0.15			0.25			0.35			0.50			0.50			0.60			0.70			0.35
5–15 Year Laddered Tax-Exempt Bond*		0.20–0.25			0.25			–			–			0.25			0.30			0.45			–			–			0.65			–
Green Bond*		0.35–0.40			0.40			0.25			0.15			0.25			0.45			0.60			0.60	a		0.70	a		0.80	a		–
High-Yield*		0.30–0.35			0.34			0.25			0.15			0.25			0.40	b		0.55	b		0.55	b		0.65	b		0.75	b		0.40	b
Inflation-Linked Bond*		0.20–0.25			0.24			0.25			0.15			0.25			0.30	c		0.45	c		0.45	c		0.55	c		0.65	c		0.30	c
Short Duration Impact Bond*		0.25–0.30			0.30			0.25			0.15			0.25			0.35			0.50			0.50			0.60			0.70	d		–
Short-Term Bond*		0.20–0.25			0.25			0.25			0.15			0.25			0.30			0.45			0.45			0.55			0.65			0.30
Short-Term Bond Index		0.07			0.07			0.25			0.15			0.25			0.12			0.27			0.27			0.37			0.47			0.12
Money Market		0.10			0.10			0.25			0.15			0.25			0.15			0.30			0.30	e		0.40	e		0.50	e		0.15

*	These Funds are subject to a breakpoint schedule on their investment management fees, which reduces these fees as the Fund’s net assets increase.
‡	Maximum expense amounts reflect all expenses excluding interest, taxes, brokerage commissions or other transactional expenses, Acquired fund fees and expenses and extraordinary expenses. The expense reimbursement arrangements will continue through at least July 31, 2021. The reimbursement arrangements can only be changed with the approval of the Board of Trustees.
§	Advisors has contractually agreed to waive and/or reimburse Class W’s Management fees and Other expenses (excluding interest, taxes, brokerage commissions or other transactional expenses, Acquired fund fees and expenses, Trustee expenses and extraordinary expenses) in their entirety. Advisors expects this waiver and/or reimbursement to remain in effect indefinitely, unless changed or terminated with approval of the Board of Trustees.
a	Effective August 1, 2020, Advisors agreed to voluntarily waive a portion of the expense cap for the Green Bond Fund Premier, Retirement and Retail Classes. The expense caps are 0.54% for the Premier Class, 0.54% for the Retirement Class and 0.73% for the Retail Class. This waiver is voluntary in nature and can be discontinued at any time without prior notice to shareholders upon Board approval.
b	Effective August 1, 2020, Advisors agreed to voluntarily waive a portion of the expense cap for the High-Yield Fund Institutional, Advisor, Premier, Retirement, Retail and Class W Classes. The expense caps are 0.385% for the Institutional Class, 0.535% for the Advisor Class, 0.535% for the Premier Class, 0.635% for the Retirement Class, 0.735% for the Retail Class and 0.385% for the Class W Class. This waiver is voluntary in nature and can be discontinued at any time without prior notice to shareholders upon Board approval.
c	Effective August 1, 2020, Advisors agreed to voluntarily waive a portion of the expense cap for the Inflation-Linked Bond Fund Institutional, Advisor, Premier, Retirement, Retail and Class W Classes. The expense caps are 0.28% for the Institutional Class, 0.43% for the Advisor Class, 0.43% for the Premier Class, 0.53% for the Retirement Class, 0.63 for the Retail Class and 0.28% for the Class W Class. This waiver is voluntary in nature and can be discontinued at any time without prior notice to shareholders upon Board approval.
d	Effective August 1, 2020, Advisors agreed to voluntarily waive a portion of the expense cap for the Short Duration Impact Bond Fund Retail Class. The expense cap is 0.585% for the Retail Class. This waiver is voluntary in nature and can be discontinued at any time without prior notice to shareholders upon Board approval.
e	Effective August 1, 2020, Advisors agreed to voluntarily waive a portion of the expense cap for the Money Market Fund Premier, Retirement and Retail Classes. The expense caps are 0.27% for the Premier Class, 0.27% for the Retirement Class and 0.43% for the Retail Class. This waiver is voluntary in nature and can be discontinued at any time without prior notice to shareholders upon Board approval.

TIAA-CREF Funds: Fixed-Income Funds  ■  2020 Semiannual Report 95

Notes to financial statements concluded

Income, reflected in Payment from affiliate on the Statements of operations, reflects voluntary compensation from Advisors in amounts that approximate a portion of the cost of research services obtained from broker-dealers and research providers if Advisors had purchased the research services directly. The Funds may purchase or sell investment securities in transactions with affiliated entities under procedures adopted by the Board, pursuant to the 1940 Act. These transactions are effected at market rates without incurring broker commissions.

For period ended September 30, 2020, the Funds engaged in the following security transactions with affiliated entities:

					Realized
Fund	Purchases		Sales		gain (loss)
Bond Plus	$	–	$	505,361	$	5,411
Core Impact Bond		5,028,345		–		–
Short Duration Impact Bond		252,681		–		-
Green Bond Fund		252,681		–		–

A registered separate account of TIAA (collectively “TIAA Access”) has various sub-accounts that invest in the Funds, and certain funds with the Trust also make investments in the Funds. The following is the percentage of the Funds’ shares owned by TIAA and other funds within the Trust as of September 30, 2020:

TIAA-CREF

TIAA-CREF

TIAA-CREF

TIAA-CREF

Lifecycle

Lifecycle

Lifestyle

Managed

Underlying Fund

TIAA

Funds

Index Funds

Funds

Allocation Fund

TIAA Access

Total

Bond Index

–

%

–

%

42

%

–

%

–

%

1

%

43

%

Core Bond

–

56

–

1

–

–

57

Core Plus Bond

–

52

–

7

7

2

68

Green Bond

65

–

–

–

–

–

65

High-Yield

–

14

–

–

–

4

18

Inflation-Linked Bond

–

25

19

–

–

–

44

Short Duration Impact Bond

83

–

–

–

–

–

83

Short-Term Bond

–

42

–

5

–

2

49

Short-Term Bond Index

–

–

76

–

–

–

76

Money Market

–

–

–

–

–

3

3

TIAA-CREF Tuition Financing, Inc. (“TFI”), a wholly owned direct subsidiary of TIAA, is a registered investment adviser that provides program management services to multiple qualified tuition programs formed under Section 529 of the Internal Revenue Code (“529 Plans”). These 529 Plans, each of which operates independently, invest a portion of their assets in the Funds. As of September 30, 2020, one 529 Plans owned 7% of the Bond Index Fund; one 529 Plan owned 5% of the High-Yield Fund; three 529 Plans owned 11%, 5%, and 5%, respectively, of the Inflation-Linked Bond Fund.

Note 8—inter-fund lending program

Pursuant to an exemptive order issued by the SEC, the Funds may participate in an inter-fund lending program. This program allows the Funds to lend cash to and/or borrow cash from certain other affiliated Funds for temporary purposes, (e.g., to satisfy redemption requests or to cover unanticipated cash shortfalls). The program is subject to a number of conditions, including the requirement that no Fund may borrow or lend money under the program unless it receives a more favorable interest rate than is available from a bank or other financial institution for a comparable transaction. In addition, a Fund may participate in the program only if its participation is consistent

with the Fund’s investment policies and limitations and authorized by its portfolio manager(s). During the period ended September 30, 2020, there were no inter-fund borrowing or lending transactions.

Note 9—line of credit

The Funds (other than the Money Market Fund) participate in a $1 billion unsecured revolving credit facility that can be used for temporary purposes, including, without limitation, the funding of shareholder redemptions. The current facility was entered into on June 16, 2020 expiring on June 15, 2021, replacing the previous $1.25 billion facility, which expired June 2020. Certain affiliated accounts and mutual funds, each of which is managed by Advisors, or an affiliate of Advisors, also participate in this facility. An annual commitment fee for the credit facility is borne by the participating accounts and mutual funds on a pro rata basis. Interest associated with any borrowing under the facility is charged to the borrowing accounts or mutual funds at a specified rate of interest. The Funds are not liable for borrowings under the facility by other affiliated accounts or mutual funds. For the period ended September 30, 2020, there were no borrowings under this credit facility by the Funds.

96 2020 Semiannual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

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How to reach us

Websites

TIAA.org

nuveen.com

Automated telephone service

800-842-2252

24 hours a day, 7 days a week

For the hearing- or speech-impaired

800-842-2755

8 a.m. to 10 p.m. (ET), Monday–Friday

You should carefully consider the investment objectives, risks, charges and expenses of any fund before investing. For a prospectus that contains this and other information, please visit TIAA.org, or call 800-842-2252 for the Institutional, Advisor, Premier and Retirement classes or 800-223-1200 for the Retail Class. Please read the prospectus carefully before investing. Investment, insurance and annuity products are not Federal Deposit Insurance Corporation (FDIC) insured, are not bank guaranteed, are not bank deposits, are not insured by any federal government agency, are not a condition to any banking service or activity, and may lose value. Nuveen, a subsidiary of TIAA, provides investment advice and portfolio management services through a dozen affiliated registered

investment advisers. Nuveen Securities, LLC and TIAA-CREF Individual  & Institutional Services, LLC, members FINRA, distribute securities products.

This material is for informational or educational purposes only and does not constitute fiduciary investment advice under ERISA, a securities recommendation under all securities laws, or an insurance product recommendation under state insurance laws or regulations. This material does not take into account any specific objectives or circumstances of any particular investor, or suggest any specific course of action. Investment decisions should be made based on the investor’s own objectives and circumstances.

©2020 Teachers Insurance and Annuity Association of America—College Retirement Equities Fund, 730 Third Avenue, New York, NY 10017-3206

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Item 2. Code of Conduct.

Not Applicable.

Item 3. Audit Committee Financial Expert.

Not Applicable.

Item 4. Principal Accountant Fees and Services.

Not Applicable.

Item 5. Audit Committee of Listed Registrants.

Not Applicable.

Item 6. Schedule of Investments.

TIAA-CREF FUNDS – Bond Index Fund

TIAA-CREF FUNDS

BOND INDEX FUND

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2020

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
BONDS - 99.5%
CORPORATE BONDS - 27.4%
AUTOMOBILES & COMPONENTS - 0.1%
$	250,000	Aptiv plc		4.250	%	01/15/26	$	286,034
	100,000	Aptiv plc		4.350		03/15/29		112,780
	100,000	Aptiv plc		4.400		10/01/46		97,727
	575,000	Aptiv plc		5.400		03/15/49		649,939
	200,000	BorgWarner, Inc		3.375		03/15/25		216,438
	150,000	BorgWarner, Inc		2.650		07/01/27		158,210
	200,000	BorgWarner, Inc		4.375		03/15/45		236,556
	600,000	Delphi Corp		4.150		03/15/24		659,248
	125,000	General Motors Co		4.875		10/02/23		136,154
	500,000	General Motors Co		5.400		10/02/23		551,155
	500,000	General Motors Co		6.125		10/01/25		580,711
	500,000	General Motors Co		4.200		10/01/27		535,599
	500,000	General Motors Co		6.800		10/01/27		607,636
	700,000	General Motors Co		5.000		10/01/28		787,232
	900,000	General Motors Co		6.600		04/01/36		1,093,952
	700,000	General Motors Co		5.150		04/01/38		742,292
	150,000	General Motors Co		6.250		10/02/43		177,454
	175,000	General Motors Co		5.200		04/01/45		188,227
	350,000	General Motors Co		6.750		04/01/46		430,977
	500,000	General Motors Co		5.400		04/01/48		552,456
	900,000	General Motors Co		5.950		04/01/49		1,052,595
	175,000	Harley-Davidson, Inc		3.500		07/28/25		184,768
	200,000	Harley-Davidson, Inc		4.625		07/28/45		215,522
	800,000	Lear Corp		3.800		09/15/27		843,902
	400,000	Lear Corp		4.250		05/15/29		432,340
	500,000	Lear Corp		3.500		05/30/30		511,429
	550,000	Lear Corp		5.250		05/15/49		594,396
	300,000	Magna International, Inc		3.625		06/15/24		330,356
	600,000	Magna International, Inc		4.150		10/01/25		684,518
	175,000	Magna International, Inc		2.450		06/15/30		184,280
	500,000	Toyota Motor Corp		2.157		07/02/22		515,348
	300,000	Toyota Motor Corp		3.419		07/20/23		324,664
	750,000	Toyota Motor Corp		2.358		07/02/24		801,698
	300,000	Toyota Motor Corp		3.669		07/20/28		353,435
	750,000	Toyota Motor Corp		2.760		07/02/29		833,197
		TOTAL AUTOMOBILES & COMPONENTS						16,663,225
BANKS - 3.9%
	350,000	Banco Bilbao Vizcaya Argentaria S.A.		3.000		10/20/20		350,466
	1,000,000	Banco Bilbao Vizcaya Argentaria S.A.		0.875		09/18/23		998,813
	1,000,000	Banco Bilbao Vizcaya Argentaria S.A.		1.125		09/18/25		992,974
	600,000	Banco Santander S.A.		3.500		04/11/22		622,329
	800,000	Banco Santander S.A.		3.125		02/23/23		837,953
	1,200,000	Banco Santander S.A.		3.848		04/12/23		1,281,351

1

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	800,000	Banco Santander S.A.		2.706	%	06/27/24	$	847,145
	600,000	Banco Santander S.A.		2.746		05/28/25		630,498
	400,000	Banco Santander S.A.		5.179		11/19/25		454,652
	600,000	Banco Santander S.A.		4.250		04/11/27		680,760
	675,000	Banco Santander S.A.		3.800		02/23/28		741,780
	1,800,000	Banco Santander S.A.		4.379		04/12/28		2,041,636
	600,000	Banco Santander S.A.		3.306		06/27/29		652,225
	400,000	Banco Santander S.A.		3.490		05/28/30		435,106
	850,000	Bancolombia S.A.		3.000		01/29/25		851,377
	3,000,000	Bank of America Corp		2.738		01/23/22		3,021,162
	1,200,000	Bank of America Corp		2.816		07/21/23		1,246,045
	3,500,000	Bank of America Corp		4.125		01/22/24		3,876,005
	1,475,000	Bank of America Corp		4.200		08/26/24		1,642,347
	10,300,000	Bank of America Corp		3.458		03/15/25		11,162,914
	3,550,000	Bank of America Corp		3.950		04/21/25		3,942,066
	3,000,000	Bank of America Corp		0.981		09/25/25		2,999,272
	3,000,000	Bank of America Corp		3.093		10/01/25		3,234,322
	725,000	Bank of America Corp		2.456		10/22/25		764,522
	4,000,000	Bank of America Corp		3.366		01/23/26		4,358,323
	3,000,000	Bank of America Corp		2.015		02/13/26		3,113,260
	5,000,000	Bank of America Corp		1.319		06/19/26		5,030,127
	7,800,000	Bank of America Corp		3.559		04/23/27		8,713,308
	2,000,000	Bank of America Corp		3.593		07/21/28		2,241,447
	5,690,000	Bank of America Corp		3.419		12/20/28		6,337,806
	1,250,000	Bank of America Corp		3.970		03/05/29		1,433,369
	1,400,000	Bank of America Corp		4.271		07/23/29		1,640,505
	3,075,000	Bank of America Corp		3.974		02/07/30		3,573,667
	1,675,000	Bank of America Corp		3.194		07/23/30		1,850,587
	1,050,000	Bank of America Corp		2.884		10/22/30		1,133,351
	4,000,000	Bank of America Corp		2.496		02/13/31		4,169,556
	1,750,000	Bank of America Corp		2.592		04/29/31		1,847,976
	3,000,000	Bank of America Corp		1.898		07/23/31		2,986,800
	1,500,000	Bank of America Corp		6.110		01/29/37		2,116,287
	4,500,000	Bank of America Corp		4.078		04/23/40		5,357,151
	6,000,000	Bank of America Corp		2.676		06/19/41		6,119,517
	1,500,000	Bank of America Corp		5.000		01/21/44		2,073,072
	2,800,000	Bank of America Corp		4.443		01/20/48		3,623,944
	3,000,000	Bank of America Corp		3.946		01/23/49		3,645,128
	1,250,000	Bank of America Corp		4.330		03/15/50		1,595,205
	1,500,000	Bank of America Corp		4.083		03/20/51		1,853,417
	550,000	Bank of America NA		3.335		01/25/23		570,705
	1,000,000	Bank of Nova Scotia		1.875		04/26/21		1,009,120
	1,000,000	Bank of Nova Scotia		2.000		11/15/22		1,032,630
	375,000	Bank of Nova Scotia		2.375		01/18/23		390,567
	750,000	Bank of Nova Scotia		1.950		02/01/23		775,109
	750,000	Bank of Nova Scotia		1.625		05/01/23		769,232
	1,000,000	Bank of Nova Scotia		0.550		09/15/23		998,301
	750,000	Bank of Nova Scotia		2.200		02/03/25		791,440
	2,000,000	Bank of Nova Scotia		1.300		06/11/25		2,038,348
	1,550,000	Bank of Nova Scotia		4.500		12/16/25		1,795,095
	1,000,000	Bank of Nova Scotia		2.700		08/03/26		1,094,980
	1,500,000	Barclays Bank plc		2.650		01/11/21		1,506,093
	2,000,000	Barclays Bank plc		1.700		05/12/22		2,032,724
	2,000,000	Barclays plc		3.200		08/10/21		2,046,111

2

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	1,500,000		Barclays plc		3.684	%	01/10/23	$	1,546,280
	1,500,000		Barclays plc		4.610		02/15/23		1,570,024
	525,000		Barclays plc		4.338		05/16/24		563,575
	200,000		Barclays plc		4.375		09/11/24		214,353
	1,425,000		Barclays plc		3.650		03/16/25		1,536,892
	2,750,000		Barclays plc		3.932		05/07/25		2,961,087
	975,000		Barclays plc		4.375		01/12/26		1,092,309
	2,000,000		Barclays plc		2.852		05/07/26		2,076,397
	800,000		Barclays plc		5.200		05/12/26		886,994
	700,000		Barclays plc		4.337		01/10/28		779,137
	1,975,000		Barclays plc		4.836		05/09/28		2,121,357
	1,500,000		Barclays plc		4.972		05/16/29		1,752,896
	1,000,000		Barclays plc		5.088		06/20/30		1,126,900
	2,000,000		Barclays plc		2.645		06/24/31		1,994,741
	750,000		Barclays plc		3.564		09/23/35		737,767
	775,000		Barclays plc		5.250		08/17/45		1,021,336
	575,000		Barclays plc		4.950		01/10/47		735,495
	500,000		BBVA USA		3.500		06/11/21		509,059
	500,000		BBVA USA		2.875		06/29/22		515,157
	1,000,000		BBVA USA		2.500		08/27/24		1,039,933
	500,000		BBVA USA		3.875		04/10/25		536,372
	675,000		BNP Paribas S.A.		3.250		03/03/23		720,531
	1,350,000		BNP Paribas S.A.		4.250		10/15/24		1,493,211
	1,100,000	g	BNP Paribas S.A.		1.904		09/30/28		1,094,958
	400,000		BPCE S.A.		2.750		12/02/21		411,257
	1,025,000		BPCE S.A.		4.000		04/15/24		1,135,251
	300,000		BPCE S.A.		3.375		12/02/26		336,471
	500,000		Canadian Imperial Bank of Commerce		2.550		06/16/22		518,955
	800,000		Canadian Imperial Bank of Commerce		0.950		06/23/23		807,324
	1,000,000		Canadian Imperial Bank of Commerce		2.606		07/22/23		1,036,330
	500,000		Canadian Imperial Bank of Commerce		3.500		09/13/23		543,163
	750,000		Canadian Imperial Bank of Commerce		3.100		04/02/24		808,898
	1,000,000		Canadian Imperial Bank of Commerce		2.250		01/28/25		1,054,485
	3,000,000		CitiBank NA		2.844		05/20/22		3,046,002
	2,000,000		CitiBank NA		3.650		01/23/24		2,191,129
	1,250,000		Citigroup, Inc		2.350		08/02/21		1,271,059
	100,000		Citigroup, Inc		2.900		12/08/21		102,735
	3,000,000		Citigroup, Inc		4.500		01/14/22		3,152,810
	425,000		Citigroup, Inc		2.312		11/04/22		433,292
	800,000		Citigroup, Inc		3.142		01/24/23		825,355
	4,600,000		Citigroup, Inc		3.500		05/15/23		4,905,120
	1,400,000		Citigroup, Inc		2.876		07/24/23		1,452,642
	1,500,000		Citigroup, Inc		4.044		06/01/24		1,620,602
	500,000		Citigroup, Inc		4.000		08/05/24		549,446
	7,500,000		Citigroup, Inc		3.352		04/24/25		8,113,135
	1,000,000		Citigroup, Inc		3.700		01/12/26		1,123,258
	750,000		Citigroup, Inc		4.600		03/09/26		858,557
	1,100,000		Citigroup, Inc		4.300		11/20/26		1,259,078
	1,500,000		Citigroup, Inc		4.450		09/29/27		1,737,483
	1,000,000		Citigroup, Inc		3.668		07/24/28		1,122,472
	2,025,000		Citigroup, Inc		4.125		07/25/28		2,327,783
	4,000,000		Citigroup, Inc		4.075		04/23/29		4,598,525
	1,750,000		Citigroup, Inc		3.980		03/20/30		2,016,205

3

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	1,500,000		Citigroup, Inc		2.976	%	11/05/30	$	1,621,655
	5,000,000		Citigroup, Inc		2.666		01/29/31		5,258,909
	6,000,000		Citigroup, Inc		2.572		06/03/31		6,306,525
	175,000		Citigroup, Inc		6.625		06/15/32		244,849
	750,000		Citigroup, Inc		3.878		01/24/39		880,856
	325,000		Citigroup, Inc		8.125		07/15/39		566,573
	350,000		Citigroup, Inc		5.875		01/30/42		511,881
	400,000		Citigroup, Inc		6.675		09/13/43		614,327
	125,000		Citigroup, Inc		5.300		05/06/44		166,661
	675,000		Citigroup, Inc		4.650		07/30/45		880,704
	3,075,000		Citigroup, Inc		4.750		05/18/46		3,871,477
	5,075,000		Citigroup, Inc		4.650		07/23/48		6,657,881
	150,000		Citizens Bank NA		2.550		05/13/21		151,774
	925,000		Citizens Bank NA		3.250		02/14/22		958,629
	350,000		Citizens Bank NA		2.650		05/26/22		361,660
	500,000		Citizens Bank NA		3.700		03/29/23		535,596
	350,000		Citizens Bank NA		2.250		04/28/25		371,709
	250,000		Citizens Bank NA		3.750		02/18/26		286,847
	100,000		Citizens Financial Group, Inc		2.375		07/28/21		101,445
	500,000		Citizens Financial Group, Inc		2.850		07/27/26		551,549
	200,000		Citizens Financial Group, Inc		2.500		02/06/30		211,911
	450,000		Citizens Financial Group, Inc		3.250		04/30/30		496,400
	850,000	g	Citizens Financial Group, Inc		2.638		09/30/32		846,878
	500,000		Comerica Bank		2.500		07/23/24		531,614
	200,000		Comerica Bank		4.000		07/27/25		221,031
	625,000		Comerica, Inc		3.700		07/31/23		676,906
	550,000		Comerica, Inc		4.000		02/01/29		626,893
	925,000		Cooperatieve Rabobank UA		2.750		01/10/22		953,643
	1,500,000		Cooperatieve Rabobank UA		3.875		02/08/22		1,571,213
	575,000		Cooperatieve Rabobank UA		3.950		11/09/22		610,939
	425,000		Cooperatieve Rabobank UA		4.625		12/01/23		472,655
	2,050,000		Cooperatieve Rabobank UA		3.375		05/21/25		2,304,794
	600,000		Cooperatieve Rabobank UA		4.375		08/04/25		679,891
	2,700,000		Cooperatieve Rabobank UA		3.750		07/21/26		3,006,353
	550,000		Cooperatieve Rabobank UA		5.250		05/24/41		807,514
	400,000		Cooperatieve Rabobank UA		5.750		12/01/43		572,838
	1,600,000		Cooperatieve Rabobank UA		5.250		08/04/45		2,176,723
	300,000		Discover Bank		3.200		08/09/21		306,033
	1,300,000		Discover Bank		3.350		02/06/23		1,375,086
	1,350,000		Discover Bank		4.200		08/08/23		1,477,154
	1,000,000		Discover Bank		2.450		09/12/24		1,054,836
	200,000		Discover Bank		4.250		03/13/26		227,560
	1,125,000		Discover Bank		3.450		07/27/26		1,231,238
	300,000		Discover Bank		4.682		08/09/28		314,502
	350,000		Discover Bank		4.650		09/13/28		411,703
	325,000		Discover Bank		2.700		02/06/30		339,846
	200,000		Fifth Third Bancorp		3.500		03/15/22		208,283
	750,000		Fifth Third Bancorp		2.600		06/15/22		775,351
	450,000		Fifth Third Bancorp		4.300		01/16/24		496,235
	675,000		Fifth Third Bancorp		3.650		01/25/24		735,692
	1,000,000		Fifth Third Bancorp		2.375		01/28/25		1,058,838
	300,000		Fifth Third Bancorp		2.550		05/05/27		322,862
	500,000		Fifth Third Bancorp		3.950		03/14/28		581,863
	140,000		Fifth Third Bancorp		8.250		03/01/38		228,205

4

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	650,000	Fifth Third Bank		3.350	%	07/26/21	$	664,486
	200,000	Fifth Third Bank		2.875		10/01/21		204,690
	500,000	Fifth Third Bank		1.800		01/30/23		514,295
	300,000	Fifth Third Bank		3.950		07/28/25		343,089
	2,400,000	Fifth Third Bank		3.850		03/15/26		2,737,317
	1,000,000	Fifth Third Bank		2.250		02/01/27		1,069,627
	500,000	First Citizens BancShares, Inc		3.375		03/15/30		495,011
	500,000	First Horizon Bank		5.750		05/01/30		564,507
	200,000	First Horizon National Corp		3.500		12/15/20		200,680
	500,000	First Horizon National Corp		3.550		05/26/23		526,110
	500,000	First Horizon National Corp		4.000		05/26/25		543,491
	2,200,000	First Republic Bank		2.500		06/06/22		2,268,432
	500,000	First Republic Bank		1.912		02/12/24		513,879
	175,000	First Republic Bank		4.375		08/01/46		211,563
	550,000	FNB Corp		2.200		02/24/23		554,873
	33,000	HSBC Bank USA NA		7.000		01/15/39		48,681
	650,000	HSBC Holdings plc		4.000		03/30/22		682,527
	600,000	HSBC Holdings plc		3.033		11/22/23		625,843
	2,625,000	HSBC Holdings plc		4.250		03/14/24		2,815,559
	2,325,000	HSBC Holdings plc		3.950		05/18/24		2,491,103
	450,000	HSBC Holdings plc		4.250		08/18/25		488,906
	2,000,000	HSBC Holdings plc		2.633		11/07/25		2,083,255
	1,875,000	HSBC Holdings plc		4.300		03/08/26		2,115,220
	825,000	HSBC Holdings plc		1.645		04/18/26		822,675
	2,475,000	HSBC Holdings plc		3.900		05/25/26		2,735,039
	1,500,000	HSBC Holdings plc		2.099		06/04/26		1,517,623
	1,100,000	HSBC Holdings plc		4.292		09/12/26		1,224,881
	450,000	HSBC Holdings plc		4.375		11/23/26		496,291
	3,925,000	HSBC Holdings plc		4.041		03/13/28		4,335,804
	5,000,000	HSBC Holdings plc		2.013		09/22/28		4,946,531
	2,775,000	HSBC Holdings plc		4.583		06/19/29		3,189,602
	4,000,000	HSBC Holdings plc		3.973		05/22/30		4,475,320
	3,000,000	HSBC Holdings plc		2.848		06/04/31		3,104,047
	750,000	HSBC Holdings plc		2.357		08/18/31		742,305
	300,000	HSBC Holdings plc		6.500		05/02/36		403,012
	2,700,000	HSBC Holdings plc		6.500		09/15/37		3,661,432
	200,000	HSBC Holdings plc		6.800		06/01/38		280,786
	550,000	HSBC Holdings plc		6.100		01/14/42		787,282
	1,175,000	HSBC Holdings plc		5.250		03/14/44		1,485,216
	1,250,000	HSBC USA, Inc		3.500		06/23/24		1,349,049
	400,000	Huntington Bancshares, Inc		2.300		01/14/22		408,697
	1,000,000	Huntington Bancshares, Inc		2.625		08/06/24		1,064,922
	500,000	Huntington Bancshares, Inc		4.000		05/15/25		569,600
	1,000,000	Huntington Bancshares, Inc		2.550		02/04/30		1,044,293
	300,000	Huntington National Bank		3.125		04/01/22		311,516
	375,000	Huntington National Bank		1.800		02/03/23		385,383
	1,300,000	Industrial & Commercial Bank of China Ltd		2.905		11/13/20		1,302,959
	300,000	Industrial & Commercial Bank of China Ltd		2.635		05/26/21		303,011
	250,000	Industrial & Commercial Bank of China Ltd		2.452		10/20/21		253,708
	4,750,000	Industrial & Commercial Bank of China Ltd		3.538		11/08/27		5,267,021
	750,000	ING Groep NV		3.150		03/29/22		778,278
	1,200,000	ING Groep NV		4.100		10/02/23		1,315,811
	575,000	ING Groep NV		3.550		04/09/24		626,108

5

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	1,250,000	ING Groep NV		3.950	%	03/29/27	$	1,431,690
	500,000	ING Groep NV		4.550		10/02/28		603,834
	825,000	ING Groep NV		4.050		04/09/29		967,896
	800,000	JPMorgan Chase & Co		3.250		09/23/22		845,512
	3,150,000	JPMorgan Chase & Co		2.972		01/15/23		3,251,167
	3,075,000	JPMorgan Chase & Co		3.200		01/25/23		3,266,888
	2,100,000	JPMorgan Chase & Co		3.207		04/01/23		2,181,963
	500,000	JPMorgan Chase & Co		3.375		05/01/23		533,673
	625,000	JPMorgan Chase & Co		2.700		05/18/23		659,974
	475,000	JPMorgan Chase & Co		3.875		02/01/24		523,946
	4,400,000	JPMorgan Chase & Co		3.559		04/23/24		4,719,783
	1,525,000	JPMorgan Chase & Co		3.625		05/13/24		1,683,054
	2,000,000	JPMorgan Chase & Co		1.514		06/01/24		2,043,263
	1,575,000	JPMorgan Chase & Co		3.797		07/23/24		1,706,046
	2,675,000	JPMorgan Chase & Co		3.875		09/10/24		2,958,784
	3,000,000	JPMorgan Chase & Co		0.653		09/16/24		3,000,907
	975,000	JPMorgan Chase & Co		4.023		12/05/24		1,072,223
	625,000	JPMorgan Chase & Co		3.125		01/23/25		681,662
	1,200,000	JPMorgan Chase & Co		3.220		03/01/25		1,289,708
	2,125,000	JPMorgan Chase & Co		3.900		07/15/25		2,403,202
	2,000,000	JPMorgan Chase & Co		2.301		10/15/25		2,103,867
	2,000,000	JPMorgan Chase & Co		2.005		03/13/26		2,076,515
	3,125,000	JPMorgan Chase & Co		3.300		04/01/26		3,462,230
	2,000,000	JPMorgan Chase & Co		2.083		04/22/26		2,088,873
	1,450,000	JPMorgan Chase & Co		3.200		06/15/26		1,607,908
	1,000,000	JPMorgan Chase & Co		2.950		10/01/26		1,100,192
	1,350,000	JPMorgan Chase & Co		4.125		12/15/26		1,571,368
	2,450,000	JPMorgan Chase & Co		3.960		01/29/27		2,794,060
	250,000	JPMorgan Chase & Co		4.250		10/01/27		290,963
	325,000	JPMorgan Chase & Co		3.625		12/01/27		363,613
	1,375,000	JPMorgan Chase & Co		3.782		02/01/28		1,554,451
	425,000	JPMorgan Chase & Co		3.540		05/01/28		475,971
	6,000,000	JPMorgan Chase & Co		2.182		06/01/28		6,257,504
	2,050,000	JPMorgan Chase & Co		4.203		07/23/29		2,425,060
	1,750,000	JPMorgan Chase & Co		4.452		12/05/29		2,103,427
	4,500,000	JPMorgan Chase & Co		3.702		05/06/30		5,161,401
	2,000,000	JPMorgan Chase & Co		2.522		04/22/31		2,128,786
	1,425,000	JPMorgan Chase & Co		2.956		05/13/31		1,523,196
	1,000,000	JPMorgan Chase & Co		3.882		07/24/38		1,177,181
	958,000	JPMorgan Chase & Co		5.500		10/15/40		1,370,586
	2,000,000	JPMorgan Chase & Co		3.109		04/22/41		2,178,161
	1,000,000	JPMorgan Chase & Co		5.625		08/16/43		1,438,268
	1,800,000	JPMorgan Chase & Co		4.950		06/01/45		2,428,189
	2,050,000	JPMorgan Chase & Co		4.260		02/22/48		2,574,199
	1,000,000	JPMorgan Chase & Co		4.032		07/24/48		1,214,505
	4,500,000	JPMorgan Chase & Co		3.964		11/15/48		5,423,717
	1,750,000	JPMorgan Chase & Co		3.897		01/23/49		2,104,633
	2,000,000	JPMorgan Chase & Co		3.109		04/22/51		2,116,536
	750,000	JPMorgan Chase & Co		6.000		N/A‡		768,750
	500,000	KeyBank NA		2.500		11/22/21		512,244
	500,000	KeyBank NA		3.300		02/01/22		519,662
	300,000	KeyBank NA		3.180		05/22/22		312,441
	300,000	KeyBank NA		2.400		06/09/22		309,871
	625,000	KeyBank NA		2.300		09/14/22		647,868

6

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	425,000	KeyBank NA		1.250	%	03/10/23	$	432,822
	750,000	KeyBank NA		3.300		06/01/25		837,526
	300,000	KeyBank NA		3.400		05/20/26		336,220
	250,000	KeyBank NA		3.900		04/13/29		285,103
	200,000	KeyCorp		4.150		10/29/25		229,959
	850,000	KeyCorp		2.250		04/06/27		899,036
	500,000	KeyCorp		4.100		04/30/28		586,214
	1,000,000	KeyCorp		2.550		10/01/29		1,062,357
	1,000,000	Lloyds Bank plc		2.250		08/14/22		1,029,975
	575,000	Lloyds Banking Group plc		3.000		01/11/22		591,596
	1,000,000	Lloyds Banking Group plc		2.858		03/17/23		1,027,951
	300,000	Lloyds Banking Group plc		1.326		06/15/23		302,174
	1,175,000	Lloyds Banking Group plc		2.907		11/07/23		1,221,220
	1,800,000	Lloyds Banking Group plc		3.900		03/12/24		1,959,100
	2,750,000	Lloyds Banking Group plc		4.500		11/04/24		3,002,025
	1,375,000	Lloyds Banking Group plc		4.450		05/08/25		1,554,946
	325,000	Lloyds Banking Group plc		4.582		12/10/25		357,530
	225,000	Lloyds Banking Group plc		4.650		03/24/26		250,424
	500,000	Lloyds Banking Group plc		3.750		01/11/27		556,199
	2,700,000	Lloyds Banking Group plc		4.375		03/22/28		3,130,488
	700,000	Lloyds Banking Group plc		4.550		08/16/28		824,703
	1,825,000	Lloyds Banking Group plc		3.574		11/07/28		1,998,402
	1,150,000	Lloyds Banking Group plc		4.344		01/09/48		1,348,700
	300,000	M&T Bank Corp		3.550		07/26/23		325,092
	500,000	Manufacturers & Traders Trust Co		2.500		05/18/22		516,949
	1,100,000	Manufacturers & Traders Trust Co		2.900		02/06/25		1,199,813
	710,000	Mitsubishi UFJ Financial Group, Inc		2.950		03/01/21		717,735
	1,300,000	Mitsubishi UFJ Financial Group, Inc		3.535		07/26/21		1,333,154
	276,000	Mitsubishi UFJ Financial Group, Inc		2.190		09/13/21		280,769
	400,000	Mitsubishi UFJ Financial Group, Inc		2.998		02/22/22		413,346
	1,375,000	Mitsubishi UFJ Financial Group, Inc		3.218		03/07/22		1,426,940
	1,000,000	Mitsubishi UFJ Financial Group, Inc		2.623		07/18/22		1,036,414
	975,000	Mitsubishi UFJ Financial Group, Inc		2.665		07/25/22		1,011,498
	1,925,000	Mitsubishi UFJ Financial Group, Inc		3.455		03/02/23		2,049,282
	1,175,000	Mitsubishi UFJ Financial Group, Inc		3.761		07/26/23		1,271,853
	1,000,000	Mitsubishi UFJ Financial Group, Inc		2.801		07/18/24		1,067,490
	1,000,000	Mitsubishi UFJ Financial Group, Inc		0.848		09/15/24		1,000,302
	2,000,000	Mitsubishi UFJ Financial Group, Inc		2.193		02/25/25		2,094,301
	1,625,000	Mitsubishi UFJ Financial Group, Inc		3.777		03/02/25		1,814,647
	1,500,000	Mitsubishi UFJ Financial Group, Inc		1.412		07/17/25		1,518,503
	207,000	Mitsubishi UFJ Financial Group, Inc		3.850		03/01/26		236,160
	225,000	Mitsubishi UFJ Financial Group, Inc		2.757		09/13/26		243,515
	650,000	Mitsubishi UFJ Financial Group, Inc		3.677		02/22/27		735,592
	700,000	Mitsubishi UFJ Financial Group, Inc		3.287		07/25/27		777,483
	1,000,000	Mitsubishi UFJ Financial Group, Inc		3.961		03/02/28		1,154,194
	300,000	Mitsubishi UFJ Financial Group, Inc		4.050		09/11/28		349,575
	1,250,000	Mitsubishi UFJ Financial Group, Inc		3.741		03/07/29		1,434,669
	1,000,000	Mitsubishi UFJ Financial Group, Inc		3.195		07/18/29		1,102,950
	1,500,000	Mitsubishi UFJ Financial Group, Inc		2.559		02/25/30		1,575,568
	1,250,000	Mitsubishi UFJ Financial Group, Inc		2.048		07/17/30		1,262,138
	300,000	Mitsubishi UFJ Financial Group, Inc		4.286		07/26/38		370,789
	500,000	Mitsubishi UFJ Financial Group, Inc		4.153		03/07/39		604,872
	1,425,000	Mitsubishi UFJ Financial Group, Inc		3.751		07/18/39		1,643,458

7

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	2,000,000	Mizuho Financial Group, Inc		2.601	%	09/11/22	$	2,076,433
	700,000	Mizuho Financial Group, Inc		3.549		03/05/23		747,764
	1,750,000	Mizuho Financial Group, Inc		1.241		07/10/24		1,763,616
	2,000,000	Mizuho Financial Group, Inc		0.849		09/08/24		1,994,030
	500,000	Mizuho Financial Group, Inc		2.555		09/13/25		525,412
	500,000	Mizuho Financial Group, Inc		2.226		05/25/26		519,639
	950,000	Mizuho Financial Group, Inc		2.839		09/13/26		1,039,473
	200,000	Mizuho Financial Group, Inc		3.663		02/28/27		223,241
	600,000	Mizuho Financial Group, Inc		3.170		09/11/27		654,538
	725,000	Mizuho Financial Group, Inc		4.018		03/05/28		841,914
	625,000	Mizuho Financial Group, Inc		4.254		09/11/29		730,860
	1,000,000	Mizuho Financial Group, Inc		3.153		07/16/30		1,093,699
	500,000	Mizuho Financial Group, Inc		2.869		09/13/30		536,040
	500,000	Mizuho Financial Group, Inc		2.591		05/25/31		524,304
	1,000,000	Mizuho Financial Group, Inc		2.201		07/10/31		1,010,725
	1,000,000	Mizuho Financial Group, Inc		1.979		09/08/31		989,456
	225,000	MUFG Americas Holdings Corp		3.500		06/18/22		235,801
	160,000	MUFG Americas Holdings Corp		3.000		02/10/25		172,798
	1,000,000	MUFG Union Bank NA		3.150		04/01/22		1,037,854
	1,000,000	MUFG Union Bank NA		2.100		12/09/22		1,033,158
	300,000	National Australia Bank Ltd		2.625		01/14/21		302,079
	500,000	National Australia Bank Ltd		3.700		11/04/21		517,766
	925,000	National Australia Bank Ltd		2.800		01/10/22		954,573
	450,000	National Australia Bank Ltd		2.500		05/22/22		466,587
	1,000,000	National Australia Bank Ltd		1.875		12/13/22		1,032,766
	625,000	National Australia Bank Ltd		3.000		01/20/23		661,505
	500,000	National Australia Bank Ltd		2.875		04/12/23		529,133
	300,000	National Australia Bank Ltd		3.375		01/14/26		339,320
	750,000	National Australia Bank Ltd		2.500		07/12/26		817,906
	1,000,000	National Bank of Canada		2.100		02/01/23		1,033,760
	800,000	Natwest Group plc		3.032		11/28/35		768,464
	300,000	People’s United Bank NA		4.000		07/15/24		320,547
	100,000	People’s United Financial, Inc		3.650		12/06/22		105,508
	850,000	PNC Bank NA		2.550		12/09/21		871,570
	1,075,000	PNC Bank NA		2.625		02/17/22		1,107,504
	1,750,000	PNC Bank NA		2.450		07/28/22		1,812,876
	1,025,000	PNC Bank NA		2.700		11/01/22		1,070,736
	1,000,000	PNC Bank NA		2.028		12/09/22		1,018,716
	750,000	PNC Bank NA		2.950		01/30/23		789,596
	250,000	PNC Bank NA		3.800		07/25/23		272,389
	600,000	PNC Bank NA		2.950		02/23/25		654,270
	550,000	PNC Bank NA		3.250		06/01/25		611,047
	500,000	PNC Bank NA		3.100		10/25/27		557,068
	500,000	PNC Bank NA		3.250		01/22/28		561,279
	903,000	PNC Bank NA		4.050		07/26/28		1,055,656
	475,000	PNC Bank NA		2.700		10/22/29		513,800
	500,000	PNC Financial Services Group, Inc		3.500		01/23/24		544,827
	300,000	PNC Financial Services Group, Inc		3.900		04/29/24		330,380
	500,000	PNC Financial Services Group, Inc		2.200		11/01/24		529,591
	1,500,000	PNC Financial Services Group, Inc		2.600		07/23/26		1,637,470
	300,000	PNC Financial Services Group, Inc		3.150		05/19/27		333,395
	1,575,000	PNC Financial Services Group, Inc		3.450		04/23/29		1,811,767
	1,000,000	PNC Financial Services Group, Inc		2.550		01/22/30		1,085,349
	150,000	PNC Financial Services Group, Inc (Step Bond)		2.854		11/09/22		157,350

8

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	300,000	Regions Bank		6.450	%	06/26/37	$	414,724
	850,000	Regions Financial Corp		2.750		08/14/22		883,715
	2,075,000	Regions Financial Corp		3.800		08/14/23		2,249,616
	225,000	Regions Financial Corp		2.250		05/18/25		237,317
	500,000	Royal Bank of Canada		2.100		10/14/20		500,297
	750,000	Royal Bank of Canada		2.300		03/22/21		757,163
	1,600,000	Royal Bank of Canada		2.750		02/01/22		1,652,511
	1,000,000	Royal Bank of Canada		2.800		04/29/22		1,037,392
	1,000,000	Royal Bank of Canada		1.950		01/17/23		1,033,530
	500,000	Royal Bank of Canada		1.600		04/17/23		513,086
	850,000	Royal Bank of Canada		3.700		10/05/23		928,200
	1,000,000	Royal Bank of Canada		2.550		07/16/24		1,069,590
	750,000	Royal Bank of Canada		2.250		11/01/24		794,823
	1,000,000	Royal Bank of Canada		1.150		06/10/25		1,012,692
	1,000,000	Royal Bank of Canada		4.650		01/27/26		1,180,127
	4,000,000	Royal Bank of Scotland Group plc		3.498		05/15/23		4,142,552
	1,275,000	Royal Bank of Scotland Group plc		3.875		09/12/23		1,369,299
	175,000	Royal Bank of Scotland Group plc		6.000		12/19/23		196,981
	1,100,000	Royal Bank of Scotland Group plc		2.359		05/22/24		1,128,590
	175,000	Royal Bank of Scotland Group plc		5.125		05/28/24		192,109
	700,000	Royal Bank of Scotland Group plc		4.519		06/25/24		754,427
	750,000	Royal Bank of Scotland Group plc		4.269		03/22/25		815,169
	750,000	Royal Bank of Scotland Group plc		4.800		04/05/26		866,864
	300,000	Royal Bank of Scotland Group plc		3.073		05/22/28		315,090
	1,000,000	Royal Bank of Scotland Group plc		4.892		05/18/29		1,162,542
	750,000	Royal Bank of Scotland Group plc		3.754		11/01/29		776,510
	3,000,000	Royal Bank of Scotland Group plc		5.076		01/27/30		3,575,343
	1,500,000	Royal Bank of Scotland Group plc		4.445		05/08/30		1,734,817
	1,200,000	Santander Holdings USA, Inc		3.400		01/18/23		1,256,279
	375,000	Santander Holdings USA, Inc		3.500		06/07/24		402,165
	1,000,000	Santander Holdings USA, Inc		3.450		06/02/25		1,067,155
	775,000	Santander Holdings USA, Inc		4.500		07/17/25		859,488
	1,850,000	Santander Holdings USA, Inc		3.244		10/05/26		1,979,149
	650,000	Santander Holdings USA, Inc		4.400		07/13/27		715,616
	600,000	Santander UK Group Holdings plc		2.875		10/16/20		600,576
	200,000	Santander UK Group Holdings plc		3.125		01/08/21		201,421
	1,775,000	Santander UK Group Holdings plc		3.571		01/10/23		1,831,108
	775,000	Santander UK Group Holdings plc		3.373		01/05/24		809,922
	725,000	Santander UK Group Holdings plc		4.796		11/15/24		798,612
	1,000,000	Santander UK Group Holdings plc		1.532		08/21/26		983,643
	500,000	Santander UK Group Holdings plc		3.823		11/03/28		554,609
	750,000	Santander UK plc		3.400		06/01/21		765,359
	400,000	Santander UK plc		3.750		11/15/21		414,065
	775,000	Santander UK plc		4.000		03/13/24		855,345
	1,000,000	Santander UK plc		2.875		06/18/24		1,067,312
	350,000	Shinhan Bank Co Ltd		3.875		12/07/26		358,969
	400,000	Skandinaviska Enskilda Banken AB		1.875		09/13/21		406,004
	900,000	Skandinaviska Enskilda Banken AB		2.800		03/11/22		930,492
	300,000	Sumitomo Mitsui Banking Corp		2.450		10/20/20		300,333
	500,000	Sumitomo Mitsui Banking Corp		3.200		07/18/22		523,856
	800,000	Sumitomo Mitsui Banking Corp		3.000		01/18/23		841,675
	300,000	Sumitomo Mitsui Banking Corp		3.950		01/10/24		329,516
	500,000	Sumitomo Mitsui Banking Corp		3.400		07/11/24		544,281

9

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	250,000	Sumitomo Mitsui Banking Corp		3.650	%	07/23/25	$	280,721
	425,000	Sumitomo Mitsui Financial Group, Inc		2.442		10/19/21		434,168
	425,000	Sumitomo Mitsui Financial Group, Inc		2.846		01/11/22		437,661
	925,000	Sumitomo Mitsui Financial Group, Inc		2.784		07/12/22		961,218
	1,650,000	Sumitomo Mitsui Financial Group, Inc		2.778		10/18/22		1,722,055
	1,725,000	Sumitomo Mitsui Financial Group, Inc		3.102		01/17/23		1,821,104
	900,000	Sumitomo Mitsui Financial Group, Inc		3.748		07/19/23		975,153
	1,000,000	Sumitomo Mitsui Financial Group, Inc		2.448		09/27/24		1,056,705
	3,725,000	Sumitomo Mitsui Financial Group, Inc		1.474		07/08/25		3,792,678
	1,300,000	Sumitomo Mitsui Financial Group, Inc		3.784		03/09/26		1,478,558
	700,000	Sumitomo Mitsui Financial Group, Inc		3.010		10/19/26		771,610
	725,000	Sumitomo Mitsui Financial Group, Inc		3.446		01/11/27		806,692
	775,000	Sumitomo Mitsui Financial Group, Inc		3.364		07/12/27		862,170
	500,000	Sumitomo Mitsui Financial Group, Inc		3.352		10/18/27		550,115
	675,000	Sumitomo Mitsui Financial Group, Inc		3.544		01/17/28		755,796
	750,000	Sumitomo Mitsui Financial Group, Inc		3.944		07/19/28		865,377
	500,000	Sumitomo Mitsui Financial Group, Inc		4.306		10/16/28		593,976
	1,500,000	Sumitomo Mitsui Financial Group, Inc		3.040		07/16/29		1,633,072
	500,000	Sumitomo Mitsui Financial Group, Inc		3.202		09/17/29		541,828
	1,000,000	Sumitomo Mitsui Financial Group, Inc		2.724		09/27/29		1,060,675
	1,500,000	Sumitomo Mitsui Financial Group, Inc		2.750		01/15/30		1,603,158
	1,500,000	Sumitomo Mitsui Financial Group, Inc		2.130		07/08/30		1,523,095
	1,000,000	Sumitomo Mitsui Financial Group, Inc		2.142		09/23/30		984,343
	300,000	SVB Financial Group		3.125		06/05/30		334,744
	1,000,000	Svenska Handelsbanken AB		1.875		09/07/21		1,014,760
	889,000	Svenska Handelsbanken AB		3.900		11/20/23		982,916
	1,250,000	Synchrony Bank		3.650		05/24/21		1,268,937
	475,000	Synchrony Bank		3.000		06/15/22		490,459
	500,000	Synovus Bank		2.289		02/10/23		506,027
	300,000	Synovus Financial Corp		3.125		11/01/22		307,875
	1,000,000	Toronto-Dominion Bank		0.750		06/12/23		1,005,727
	500,000	Toronto-Dominion Bank		3.500		07/19/23		542,764
	1,000,000	Toronto-Dominion Bank		0.450		09/11/23		998,083
	1,525,000	Toronto-Dominion Bank		3.250		03/11/24		1,652,470
	1,250,000	Toronto-Dominion Bank		2.650		06/12/24		1,337,182
	1,000,000	Toronto-Dominion Bank		1.150		06/12/25		1,016,017
	1,000,000	Toronto-Dominion Bank		0.750		09/11/25		997,012
	1,000,000	Toronto-Dominion Bank		3.625		09/15/31		1,123,422
	300,000	Truist Bank		3.525		10/26/21		300,604
	1,100,000	Truist Bank		2.625		01/15/22		1,130,455
	750,000	Truist Bank		2.800		05/17/22		778,143
	1,450,000	Truist Bank		2.450		08/01/22		1,502,077
	300,000	Truist Bank		3.502		08/02/22		307,649
	500,000	Truist Bank		3.000		02/02/23		526,756
	750,000	Truist Bank		1.250		03/09/23		763,440
	1,000,000	Truist Bank		3.200		04/01/24		1,084,399
	500,000	Truist Bank		3.689		08/02/24		542,826
	750,000	Truist Bank		2.150		12/06/24		793,971
	1,000,000	Truist Bank		1.500		03/10/25		1,030,903
	500,000	Truist Bank		3.625		09/16/25		563,940
	200,000	Truist Bank		4.050		11/03/25		231,398
	375,000	Truist Bank		3.300		05/15/26		420,450
	500,000	Truist Bank		3.800		10/30/26		578,057
	750,000	Truist Bank		2.636		09/17/29		778,059

10

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	475,000	Truist Bank		2.250	%	03/11/30	$	488,976
	750,000	Truist Financial Corp		3.200		09/03/21		768,359
	225,000	Truist Financial Corp		2.700		01/27/22		231,572
	200,000	Truist Financial Corp		3.950		03/22/22		209,720
	1,150,000	Truist Financial Corp		2.750		04/01/22		1,187,984
	500,000	Truist Financial Corp		3.050		06/20/22		521,514
	750,000	Truist Financial Corp		2.200		03/16/23		780,219
	775,000	Truist Financial Corp		3.750		12/06/23		848,997
	1,000,000	Truist Financial Corp		2.500		08/01/24		1,064,293
	825,000	Truist Financial Corp		2.850		10/26/24		893,851
	900,000	Truist Financial Corp		4.000		05/01/25		1,023,080
	975,000	Truist Financial Corp		3.700		06/05/25		1,104,633
	750,000	Truist Financial Corp		1.200		08/05/25		763,387
	1,000,000	Truist Financial Corp		1.125		08/03/27		996,622
	500,000	Truist Financial Corp		3.875		03/19/29		573,338
	750,000	Truist Financial Corp		1.950		06/05/30		770,770
	4,075,000	US Bancorp		2.625		01/24/22		4,191,146
	250,000	US Bancorp		3.000		03/15/22		259,318
	450,000	US Bancorp		2.950		07/15/22		469,862
	125,000	US Bancorp		3.700		01/30/24		137,220
	1,225,000	US Bancorp		3.375		02/05/24		1,332,651
	2,225,000	US Bancorp		3.600		09/11/24		2,464,390
	125,000	US Bancorp		3.950		11/17/25		144,251
	750,000	US Bancorp		3.100		04/27/26		833,028
	700,000	US Bancorp		2.375		07/22/26		762,671
	1,175,000	US Bancorp		3.150		04/27/27		1,325,530
	750,000	US Bancorp		3.900		04/26/28		895,073
	600,000	US Bancorp		3.000		07/30/29		666,266
	325,000	US Bank NA		3.450		11/16/21		335,780
	1,400,000	US Bank NA		2.850		01/23/23		1,475,954
	1,250,000	US Bank NA		3.400		07/24/23		1,349,488
	750,000	US Bank NA		2.800		01/27/25		814,718
	125,000	Wachovia Corp		5.500		08/01/35		165,959
	200,000	Webster Financial Corp		4.100		03/25/29		217,873
	1,300,000	Wells Fargo Bank NA		3.625		10/22/21		1,340,417
	2,000,000	Wells Fargo Bank NA		2.897		05/27/22		2,031,414
	1,000,000	Wells Fargo Bank NA		2.082		09/09/22		1,014,160
	250,000	Wells Fargo Bank NA		6.600		01/15/38		366,240
	650,000	Westpac Banking Corp		2.800		01/11/22		670,705
	925,000	Westpac Banking Corp		2.500		06/28/22		960,525
	300,000	Westpac Banking Corp		2.750		01/11/23		316,341
	1,150,000	Westpac Banking Corp		3.650		05/15/23		1,244,137
	750,000	Westpac Banking Corp		3.300		02/26/24		813,219
	2,000,000	Westpac Banking Corp		2.350		02/19/25		2,133,898
	1,000,000	Westpac Banking Corp		2.850		05/13/26		1,106,398
	675,000	Westpac Banking Corp		2.700		08/19/26		739,865
	850,000	Westpac Banking Corp		3.350		03/08/27		975,498
	725,000	Westpac Banking Corp		3.400		01/25/28		834,579
	1,000,000	Westpac Banking Corp		2.894		02/04/30		1,036,160
	950,000	Westpac Banking Corp		4.322		11/23/31		1,074,345
	600,000	Westpac Banking Corp		4.110		07/24/34		674,127
	900,000	Westpac Banking Corp		4.421		07/24/39		1,102,889
	400,000	Zions Bancorp NA		3.250		10/29/29		400,052
		TOTAL BANKS						692,075,232

11

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
CAPITAL GOODS - 1.4%
$	500,000		3M Co		3.000	%	09/14/21	$	512,112
	625,000		3M Co		2.750		03/01/22		645,789
	500,000		3M Co		1.750		02/14/23		516,964
	300,000		3M Co		2.250		03/15/23		313,699
	600,000		3M Co		3.250		02/14/24		653,664
	1,000,000		3M Co		2.000		02/14/25		1,060,919
	1,200,000		3M Co		3.000		08/07/25		1,335,630
	675,000		3M Co		2.875		10/15/27		749,180
	925,000		3M Co		3.625		09/14/28		1,075,446
	500,000		3M Co		3.375		03/01/29		575,419
	1,000,000		3M Co		2.375		08/26/29		1,082,261
	200,000		3M Co		3.125		09/19/46		218,276
	300,000		3M Co		3.625		10/15/47		355,391
	1,150,000		3M Co		4.000		09/14/48		1,451,859
	875,000		3M Co		3.250		08/26/49		985,724
	820,000		3M Co		3.700		04/15/50		981,199
	500,000		ABB Finance USA, Inc		2.875		05/08/22		519,939
	1,100,000		ABB Finance USA, Inc		3.375		04/03/23		1,177,047
	300,000		ABB Finance USA, Inc		3.800		04/03/28		356,357
	650,000		ABB Finance USA, Inc		4.375		05/08/42		837,600
	200,000		Air Lease Corp		2.500		03/01/21		201,204
	200,000		Air Lease Corp		3.875		04/01/21		201,951
	200,000		Air Lease Corp		3.375		06/01/21		202,385
	625,000		Air Lease Corp		3.500		01/15/22		641,169
	500,000		Air Lease Corp		3.750		02/01/22		510,173
	400,000		Air Lease Corp		2.625		07/01/22		404,844
	575,000		Air Lease Corp		2.250		01/15/23		576,198
	200,000		Air Lease Corp		2.750		01/15/23		204,021
	750,000		Air Lease Corp		3.875		07/03/23		781,211
	750,000		Air Lease Corp		2.300		02/01/25		736,434
	750,000		Air Lease Corp		3.375		07/01/25		765,698
	500,000		Air Lease Corp		2.875		01/15/26		491,241
	1,000,000		Air Lease Corp		3.750		06/01/26		1,017,243
	500,000		Air Lease Corp		3.625		04/01/27		494,544
	200,000		Air Lease Corp		3.625		12/01/27		198,633
	300,000		Air Lease Corp		4.625		10/01/28		310,923
	500,000		Air Lease Corp		3.250		10/01/29		474,704
	750,000		Air Lease Corp		3.000		02/01/30		698,081
	500,000		Aircastle Ltd		5.125		03/15/21		507,301
	200,000		Aircastle Ltd		4.400		09/25/23		198,492
	1,000,000		Aircastle Ltd		4.125		05/01/24		985,453
	500,000		Aircastle Ltd		4.250		06/15/26		462,332
	500,000		Allegion plc		3.500		10/01/29		547,017
	100,000		Carlisle Cos, Inc		3.750		11/15/22		104,991
	200,000		Carlisle Cos, Inc		3.500		12/01/24		219,203
	500,000		Carlisle Cos, Inc		3.750		12/01/27		569,269
	1,000,000		Carlisle Cos, Inc		2.750		03/01/30		1,062,253
	775,000	g	Carrier Global Corp		1.923		02/15/23		797,352
	2,000,000	g	Carrier Global Corp		2.493		02/15/27		2,090,162
	1,100,000	g	Carrier Global Corp		2.722		02/15/30		1,148,637
	150,000	g	Carrier Global Corp		2.700		02/15/31		156,161

12

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	2,000,000	g	Carrier Global Corp		3.377	%	04/05/40	$	2,087,397
	900,000	g	Carrier Global Corp		3.577		04/05/50		949,584
	1,950,000		Caterpillar Financial Services Corp		2.950		02/26/22		2,022,439
	1,000,000		Caterpillar Financial Services Corp		1.900		09/06/22		1,028,191
	300,000		Caterpillar Financial Services Corp		3.450		05/15/23		323,284
	1,250,000		Caterpillar Financial Services Corp		0.650		07/07/23		1,255,069
	1,000,000		Caterpillar Financial Services Corp		0.450		09/14/23		999,969
	1,000,000		Caterpillar Financial Services Corp		2.850		05/17/24		1,078,912
	1,000,000		Caterpillar Financial Services Corp		1.450		05/15/25		1,032,812
	500,000		Caterpillar Financial Services Corp		2.400		08/09/26		545,728
	1,000,000		Caterpillar Financial Services Corp		1.100		09/14/27		1,003,082
	2,775,000		Caterpillar, Inc		3.400		05/15/24		3,033,335
	500,000		Caterpillar, Inc		2.600		09/19/29		550,116
	1,500,000		Caterpillar, Inc		2.600		04/09/30		1,645,864
	225,000		Caterpillar, Inc		5.200		05/27/41		315,584
	2,363,000		Caterpillar, Inc		3.803		08/15/42		2,884,660
	300,000		Caterpillar, Inc		4.300		05/15/44		389,331
	750,000		Caterpillar, Inc		3.250		09/19/49		835,199
	750,000		Caterpillar, Inc		3.250		04/09/50		840,300
	1,300,000		CNH Industrial Capital LLC		3.875		10/15/21		1,335,352
	225,000		CNH Industrial Capital LLC		1.950		07/02/23		228,651
	300,000		CNH Industrial Capital LLC		4.200		01/15/24		322,281
	1,000,000		CNH Industrial Capital LLC		1.875		01/15/26		998,403
	500,000		CNH Industrial NV		3.850		11/15/27		540,285
	200,000		Crane Co		4.200		03/15/48		209,625
	300,000		CRH America, Inc		5.750		01/15/21		304,437
	200,000		Cummins, Inc		3.650		10/01/23		217,567
	500,000		Cummins, Inc		0.750		09/01/25		503,275
	1,000,000		Cummins, Inc		1.500		09/01/30		993,990
	200,000		Cummins, Inc		4.875		10/01/43		272,947
	750,000		Cummins, Inc		2.600		09/01/50		733,792
	350,000		Deere & Co		2.600		06/08/22		361,530
	218,000		Deere & Co		5.375		10/16/29		288,567
	1,025,000		Deere & Co		3.900		06/09/42		1,306,366
	500,000		Deere & Co		2.875		09/07/49		534,901
	1,000,000		Deere & Co		3.750		04/15/50		1,240,125
	825,000		Dover Corp		3.150		11/15/25		909,551
	100,000		Dover Corp		2.950		11/04/29		109,289
	100,000		Dover Corp		5.375		03/01/41		128,578
	2,200,000		Eaton Corp		2.750		11/02/22		2,305,474
	200,000		Eaton Corp		3.103		09/15/27		223,040
	150,000		Eaton Corp		4.000		11/02/32		181,068
	925,000		Eaton Corp		4.150		11/02/42		1,139,634
	200,000		Eaton Corp		3.915		09/15/47		236,554
	350,000		Emerson Electric Co		2.625		02/15/23		366,663
	200,000		Emerson Electric Co		3.150		06/01/25		220,356
	1,000,000		Emerson Electric Co		0.875		10/15/26		995,348
	500,000		Emerson Electric Co		1.800		10/15/27		521,346
	750,000		Emerson Electric Co		1.950		10/15/30		776,724
	200,000		Emerson Electric Co		5.250		11/15/39		273,286
	500,000		Emerson Electric Co		2.750		10/15/50		507,344
	150,000		Flowserve Corp		3.500		09/15/22		156,496
	200,000		Flowserve Corp		4.000		11/15/23		209,920
	500,000		Flowserve Corp		3.500		10/01/30		495,450

13

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	500,000		Fortive Corp		2.350	%	06/15/21	$	505,782
	875,000		Fortive Corp		3.150		06/15/26		966,640
	250,000		Fortive Corp		4.300		06/15/46		294,719
	600,000		Fortune Brands Home & Security, Inc		4.000		09/21/23		656,074
	200,000		Fortune Brands Home & Security, Inc		4.000		06/15/25		227,032
	1,000,000		Fortune Brands Home & Security, Inc		3.250		09/15/29		1,106,223
	200,000		GATX Corp		4.350		02/15/24		218,500
	500,000		GATX Corp		3.250		09/15/26		542,591
	200,000		GATX Corp		3.500		03/15/28		218,319
	200,000		GATX Corp		4.550		11/07/28		234,246
	425,000		GATX Corp		4.700		04/01/29		507,665
	500,000		GATX Corp		4.000		06/30/30		575,587
	225,000		GATX Corp		5.200		03/15/44		285,610
	325,000		General Dynamics Corp		2.250		11/15/22		336,850
	825,000		General Dynamics Corp		3.375		05/15/23		886,624
	300,000		General Dynamics Corp		1.875		08/15/23		311,216
	1,200,000		General Dynamics Corp		2.375		11/15/24		1,283,491
	975,000		General Dynamics Corp		3.500		05/15/25		1,092,149
	750,000		General Dynamics Corp		3.750		05/15/28		880,726
	225,000		General Dynamics Corp		3.600		11/15/42		264,484
	1,950,000		General Dynamics Corp		4.250		04/01/50		2,540,874
	919,000		General Electric Co		3.150		09/07/22		959,730
	2,350,000		General Electric Co		2.700		10/09/22		2,433,142
	300,000		General Electric Co		3.100		01/09/23		314,802
	250,000		General Electric Co		3.375		03/11/24		268,314
	5,503,000		General Electric Co		3.450		05/15/24		5,904,350
	1,102,000		General Electric Co		6.750		03/15/32		1,385,280
	250,000		General Electric Co		5.875		01/14/38		291,380
	100,000		General Electric Co		6.875		01/10/39		127,926
	750,000		General Electric Co		4.250		05/01/40		762,987
	2,875,000		General Electric Co		4.125		10/09/42		2,909,165
	1,500,000		General Electric Co		4.350		05/01/50		1,526,192
	100,000		Hexcel Corp		3.950		02/15/27		107,963
	900,000		Honeywell International, Inc		1.850		11/01/21		914,211
	1,000,000		Honeywell International, Inc		0.483		08/19/22		1,001,580
	500,000		Honeywell International, Inc		3.350		12/01/23		545,032
	2,300,000		Honeywell International, Inc		1.350		06/01/25		2,370,155
	1,700,000		Honeywell International, Inc		2.500		11/01/26		1,869,168
	950,000		Honeywell International, Inc		1.950		06/01/30		998,980
	782,000		Honeywell International, Inc		3.812		11/21/47		981,735
	575,000		Honeywell International, Inc		2.800		06/01/50		611,850
	100,000		Hubbell, Inc		3.625		11/15/22		105,595
	200,000		Hubbell, Inc		3.350		03/01/26		216,036
	500,000		Hubbell, Inc		3.150		08/15/27		532,108
	200,000		Hubbell, Inc		3.500		02/15/28		217,658
	500,000	g	Huntington Ingalls Industries, Inc		3.844		05/01/25		549,289
	400,000		Huntington Ingalls Industries, Inc		3.483		12/01/27		437,662
	500,000	g	Huntington Ingalls Industries, Inc		4.200		05/01/30		573,349
	200,000		IDEX Corp		4.200		12/15/21		207,062
	500,000		IDEX Corp		3.000		05/01/30		549,969
	1,000,000		Illinois Tool Works, Inc		2.650		11/15/26		1,108,691
	200,000		Illinois Tool Works, Inc		4.875		09/15/41		270,921
	1,000,000		Illinois Tool Works, Inc		3.900		09/01/42		1,245,134

14

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	300,000	Ingersoll-Rand Global Holding Co Ltd		2.900	%	02/21/21	$	302,880
	300,000	Ingersoll-Rand Global Holding Co Ltd		4.250		06/15/23		330,073
	400,000	Ingersoll-Rand Global Holding Co Ltd		3.750		08/21/28		459,393
	200,000	Ingersoll-Rand Global Holding Co Ltd		5.750		06/15/43		276,358
	450,000	Ingersoll-Rand Global Holding Co Ltd		4.300		02/21/48		536,118
	600,000	Ingersoll-Rand Luxembourg Finance S.A.		3.550		11/01/24		662,637
	100,000	Ingersoll-Rand Luxembourg Finance S.A.		3.500		03/21/26		111,838
	1,000,000	Ingersoll-Rand Luxembourg Finance S.A.		3.800		03/21/29		1,171,736
	300,000	Ingersoll-Rand Luxembourg Finance S.A.		4.500		03/21/49		378,052
	300,000	John Deere Capital Corp		3.125		09/10/21		308,143
	200,000	John Deere Capital Corp		3.150		10/15/21		205,786
	600,000	John Deere Capital Corp		2.650		01/06/22		617,852
	500,000	John Deere Capital Corp		3.200		01/10/22		517,927
	2,700,000	John Deere Capital Corp		2.950		04/01/22		2,805,655
	200,000	John Deere Capital Corp		1.950		06/13/22		205,517
	400,000	John Deere Capital Corp		2.150		09/08/22		413,528
	200,000	John Deere Capital Corp		2.700		01/06/23		210,145
	1,425,000	John Deere Capital Corp		2.800		03/06/23		1,509,308
	250,000	John Deere Capital Corp		1.200		04/06/23		254,886
	300,000	John Deere Capital Corp		3.450		06/07/23		324,343
	1,000,000	John Deere Capital Corp		0.700		07/05/23		1,008,309
	200,000	John Deere Capital Corp		3.650		10/12/23		219,748
	750,000	John Deere Capital Corp		3.450		01/10/24		819,504
	500,000	John Deere Capital Corp		2.600		03/07/24		534,513
	850,000	John Deere Capital Corp		2.650		06/24/24		914,721
	500,000	John Deere Capital Corp		2.050		01/09/25		529,801
	125,000	John Deere Capital Corp		3.400		09/11/25		141,157
	500,000	John Deere Capital Corp		2.250		09/14/26		542,859
	250,000	John Deere Capital Corp		1.750		03/09/27		261,180
	200,000	John Deere Capital Corp		2.800		09/08/27		222,048
	200,000	John Deere Capital Corp		3.050		01/06/28		222,542
	500,000	John Deere Capital Corp		2.800		07/18/29		557,832
	500,000	John Deere Capital Corp		2.450		01/09/30		543,334
	474,000	Johnson Controls International plc		3.900		02/14/26		538,927
	325,000	Johnson Controls International plc		1.750		09/15/30		327,732
	207,000	Johnson Controls International plc		6.000		01/15/36		273,873
	35,000	Johnson Controls International plc		5.125		09/14/45		46,102
	300,000	Johnson Controls International plc		4.500		02/15/47		375,047
	280,000	Johnson Controls International plc (Step Bond)		3.625		07/02/24		304,746
	325,000	Johnson Controls International plc (Step Bond)		4.625		07/02/44		405,523
	72,000	Johnson Controls International plc (Step Bond)		4.950		07/02/64		92,892
	150,000	Kennametal, Inc		3.875		02/15/22		154,992
	200,000	Kennametal, Inc		4.625		06/15/28		223,177
	125,000	KLA-Tencor Corp		4.650		11/01/24		142,715
	300,000	KLA-Tencor Corp		4.100		03/15/29		359,971
	500,000	KLA-Tencor Corp		5.000		03/15/49		667,728
	300,000	L3Harris Technologies, Inc		4.950		02/15/21		301,634
	475,000	L3Harris Technologies, Inc		3.850		06/15/23		514,230
	52,000	L3Harris Technologies, Inc		3.950		05/28/24		57,276
	600,000	L3Harris Technologies, Inc		3.850		12/15/26		689,799
	1,275,000	L3Harris Technologies, Inc		4.400		06/15/28		1,520,223
	625,000	L3Harris Technologies, Inc		4.400		06/15/28		745,207
	175,000	L3Harris Technologies, Inc		2.900		12/15/29		190,979
	300,000	L3Harris Technologies, Inc		4.854		04/27/35		394,795

15

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	600,000		L3Harris Technologies, Inc		5.054	%	04/27/45	$	812,982
	100,000		Legrand France S.A.		8.500		02/15/25		132,379
	100,000		Lennox International, Inc		3.000		11/15/23		105,455
	100,000		Lennox International, Inc		1.350		08/01/25		100,728
	100,000		Lennox International, Inc		1.700		08/01/27		99,929
	500,000		Lockheed Martin Corp		3.100		01/15/23		530,165
	300,000		Lockheed Martin Corp		2.900		03/01/25		327,204
	2,200,000		Lockheed Martin Corp		3.550		01/15/26		2,503,203
	150,000		Lockheed Martin Corp		1.850		06/15/30		156,024
	300,000		Lockheed Martin Corp		3.600		03/01/35		359,779
	500,000		Lockheed Martin Corp		4.500		05/15/36		634,705
	1,833,000		Lockheed Martin Corp		4.070		12/15/42		2,285,337
	275,000		Lockheed Martin Corp		3.800		03/01/45		326,950
	200,000		Lockheed Martin Corp		4.700		05/15/46		271,969
	150,000		Lockheed Martin Corp		2.800		06/15/50		155,811
	1,894,000		Lockheed Martin Corp		4.090		09/15/52		2,432,761
	1,000,000		Masco Corp		4.450		04/01/25		1,142,808
	200,000		Masco Corp		3.500		11/15/27		223,660
	500,000		Masco Corp		2.000		10/01/30		499,276
	700,000		Masco Corp		4.500		05/15/47		816,718
	400,000		Northrop Grumman Corp		3.250		08/01/23		432,236
	1,000,000		Northrop Grumman Corp		2.930		01/15/25		1,087,853
	300,000		Northrop Grumman Corp		3.200		02/01/27		335,153
	1,775,000		Northrop Grumman Corp		3.250		01/15/28		1,993,355
	425,000		Northrop Grumman Corp		4.400		05/01/30		522,478
	100,000		Northrop Grumman Corp		5.050		11/15/40		133,828
	700,000		Northrop Grumman Corp		4.750		06/01/43		909,943
	300,000		Northrop Grumman Corp		3.850		04/15/45		349,982
	2,450,000		Northrop Grumman Corp		4.030		10/15/47		2,970,296
	1,000,000		Northrop Grumman Corp		5.250		05/01/50		1,431,259
	100,000		Oshkosh Corp		3.100		03/01/30		105,844
	1,000,000		Otis Worldwide Corp		2.056		04/05/25		1,050,360
	1,000,000		Otis Worldwide Corp		2.293		04/05/27		1,063,084
	525,000		Otis Worldwide Corp		2.565		02/15/30		563,855
	500,000		Otis Worldwide Corp		3.112		02/15/40		535,128
	450,000		Otis Worldwide Corp		3.362		02/15/50		494,662
	250,000		Parker-Hannifin Corp		3.500		09/15/22		264,300
	200,000		Parker-Hannifin Corp		2.700		06/14/24		214,090
	300,000		Parker-Hannifin Corp		3.300		11/21/24		329,034
	650,000		Parker-Hannifin Corp		3.250		03/01/27		719,238
	1,825,000		Parker-Hannifin Corp		3.250		06/14/29		2,042,651
	200,000		Parker-Hannifin Corp		4.200		11/21/34		244,109
	200,000		Parker-Hannifin Corp		4.450		11/21/44		244,761
	750,000		Parker-Hannifin Corp		4.100		03/01/47		900,069
	225,000		Parker-Hannifin Corp		4.000		06/14/49		269,990
	1,150,000		Precision Castparts Corp		2.500		01/15/23		1,199,295
	775,000		Precision Castparts Corp		3.250		06/15/25		858,371
	400,000		Precision Castparts Corp		4.200		06/15/35		499,220
	100,000		Precision Castparts Corp		3.900		01/15/43		115,414
	1,000,000		Quanta Services, Inc		2.900		10/01/30		1,020,844
	625,000	g	Raytheon Technologies Corp		2.800		03/15/22		644,364
	3,875,000	g	Raytheon Technologies Corp		2.500		12/15/22		4,019,968
	500,000	g	Raytheon Technologies Corp		3.200		03/15/24		536,653

16

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	300,000	g	Raytheon Technologies Corp		3.150	%	12/15/24	$	324,025
	1,325,000	g	Raytheon Technologies Corp		3.500		03/15/27		1,489,590
	200,000	g	Raytheon Technologies Corp		7.200		08/15/27		270,066
	1,500,000		Raytheon Technologies Corp		2.250		07/01/30		1,575,379
	100,000	g	Raytheon Technologies Corp		4.700		12/15/41		123,082
	125,000	g	Raytheon Technologies Corp		4.800		12/15/43		157,830
	150,000	g	Raytheon Technologies Corp		4.200		12/15/44		169,672
	700,000	g	Raytheon Technologies Corp		4.350		04/15/47		873,588
	500,000		Raytheon Technologies Corp		3.125		07/01/50		533,590
	400,000		Rockwell Automation, Inc		3.500		03/01/29		464,694
	400,000		Rockwell Automation, Inc		4.200		03/01/49		524,747
	200,000		Roper Technologies, Inc		3.000		12/15/20		200,604
	550,000		Roper Technologies, Inc		2.800		12/15/21		563,898
	500,000		Roper Technologies, Inc		3.650		09/15/23		543,398
	500,000		Roper Technologies, Inc		2.350		09/15/24		528,749
	750,000		Roper Technologies, Inc		1.000		09/15/25		751,883
	1,100,000		Roper Technologies, Inc		3.800		12/15/26		1,269,195
	750,000		Roper Technologies, Inc		1.400		09/15/27		757,197
	300,000		Roper Technologies, Inc		4.200		09/15/28		357,924
	500,000		Roper Technologies, Inc		2.950		09/15/29		550,015
	475,000		Roper Technologies, Inc		2.000		06/30/30		484,209
	750,000		Roper Technologies, Inc		1.750		02/15/31		748,128
	200,000		Snap-on, Inc		3.250		03/01/27		220,216
	200,000		Snap-on, Inc		4.100		03/01/48		243,151
	500,000		Snap-on, Inc		3.100		05/01/50		521,705
	250,000		Stanley Black & Decker, Inc		3.400		12/01/21		256,740
	600,000		Stanley Black & Decker, Inc		2.900		11/01/22		629,883
	500,000		Stanley Black & Decker, Inc		3.400		03/01/26		560,251
	300,000		Stanley Black & Decker, Inc		4.250		11/15/28		364,349
	1,000,000		Stanley Black & Decker, Inc		2.300		03/15/30		1,070,195
	100,000		Stanley Black & Decker, Inc		5.200		09/01/40		136,422
	425,000		Stanley Black & Decker, Inc		4.850		11/15/48		596,019
	450,000		Stanley Black & Decker, Inc		4.000		03/15/60		467,696
	150,000		Textron, Inc		4.000		03/15/26		165,079
	500,000		Textron, Inc		3.650		03/15/27		545,555
	100,000		Textron, Inc		3.375		03/01/28		107,920
	750,000		Textron, Inc		3.900		09/17/29		840,898
	500,000		Textron, Inc		3.000		06/01/30		526,272
	300,000		Textron, Inc		2.450		03/15/31		296,830
	250,000		Timken Co		3.875		09/01/24		265,970
	200,000		Timken Co		4.500		12/15/28		221,597
	100,000		Trimble, Inc		4.150		06/15/23		107,760
	625,000		Trimble, Inc		4.900		06/15/28		737,147
	52,000		United Technologies Corp		3.650		08/16/23		56,179
	1,250,000		United Technologies Corp		3.950		08/16/25		1,421,022
	725,000		United Technologies Corp		3.125		05/04/27		803,322
	2,550,000		United Technologies Corp		4.125		11/16/28		3,017,713
	250,000		United Technologies Corp		6.125		07/15/38		360,969
	750,000		United Technologies Corp		4.450		11/16/38		922,021
	200,000		United Technologies Corp		5.700		04/15/40		281,678
	2,150,000		United Technologies Corp		4.500		06/01/42		2,709,323
	1,650,000		United Technologies Corp		4.150		05/15/45		1,971,416
	3,325,000		United Technologies Corp		4.625		11/16/48		4,323,411
	200,000		Valmont Industries, Inc		5.000		10/01/44		220,621

17

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	200,000		Valmont Industries, Inc		5.250	%	10/01/54	$	216,381
	600,000		Wabtec Corp		4.400		03/15/24		651,515
	300,000		Wabtec Corp		3.450		11/15/26		318,446
	875,000		Wabtec Corp		4.950		09/15/28		1,021,396
	500,000		Westinghouse Air Brake Technologies Corp		3.200		06/15/25		526,785
	750,000		WW Grainger, Inc		1.850		02/15/25		785,433
	800,000		WW Grainger, Inc		4.600		06/15/45		1,029,474
	200,000		WW Grainger, Inc		3.750		05/15/46		224,869
	125,000		WW Grainger, Inc		4.200		05/15/47		152,326
	300,000		Xylem, Inc		4.875		10/01/21		313,116
	775,000		Xylem, Inc		3.250		11/01/26		864,222
	225,000		Xylem, Inc		1.950		01/30/28		234,297
	150,000		Xylem, Inc		2.250		01/30/31		158,920
	100,000		Xylem, Inc		4.375		11/01/46		117,563
			TOTAL CAPITAL GOODS						235,678,001
COMMERCIAL & PROFESSIONAL SERVICES - 0.2%
	750,000		BayCare Health System, Inc		3.831		11/15/50		918,953
	225,000	g	Daimler Finance North America LLC		3.650		02/22/24		244,306
	925,000		Daimler Finance North America LLC		8.500		01/18/31		1,431,800
	675,000		Equifax, Inc		2.300		06/01/21		682,842
	200,000		Equifax, Inc		3.600		08/15/21		205,248
	200,000		Equifax, Inc		3.300		12/15/22		209,822
	200,000		Equifax, Inc		3.950		06/15/23		216,366
	750,000		Equifax, Inc		2.600		12/01/24		800,448
	125,000		Equifax, Inc		2.600		12/15/25		133,799
	100,000		Equifax, Inc		3.100		05/15/30		108,873
	600,000		IHS Markit Ltd		4.125		08/01/23		652,500
	250,000		IHS Markit Ltd		3.625		05/01/24		270,225
	100,000		IHS Markit Ltd		4.750		08/01/28		118,959
	1,050,000		IHS Markit Ltd		4.250		05/01/29		1,218,084
	500,000	g	Leidos, Inc		2.950		05/15/23		525,340
	500,000	g	Leidos, Inc		3.625		05/15/25		554,575
	100,000	g	Leidos, Inc		4.375		05/15/30		117,028
	100,000		Partners Healthcare System, Inc		3.765		07/01/48		118,735
	750,000		Partners Healthcare System, Inc		3.192		07/01/49		808,820
	100,000		Partners Healthcare System, Inc		4.117		07/01/55		124,718
	1,000,000		Partners Healthcare System, Inc		3.342		07/01/60		1,095,117
	725,000		RELX Capital, Inc		3.500		03/16/23		771,020
	625,000		RELX Capital, Inc		4.000		03/18/29		734,727
	100,000		RELX Capital, Inc		3.000		05/22/30		109,352
	250,000		Republic Services, Inc		3.550		06/01/22		260,799
	750,000		Republic Services, Inc		3.200		03/15/25		824,716
	900,000		Republic Services, Inc		2.900		07/01/26		995,059
	100,000		Republic Services, Inc		3.375		11/15/27		113,492
	500,000		Republic Services, Inc		2.300		03/01/30		530,626
	1,000,000		Republic Services, Inc		1.450		02/15/31		985,423
	1,000,000		Republic Services, Inc		3.050		03/01/50		1,047,385
	300,000		Steelcase, Inc		5.125		01/18/29		336,072
	600,000		Thomson Reuters Corp		4.300		11/23/23		656,896
	1,200,000		Thomson Reuters Corp		3.350		05/15/26		1,319,540
	145,000		Thomson Reuters Corp		5.850		04/15/40		194,197
	200,000		Thomson Reuters Corp		5.650		11/23/43		260,404

18

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	200,000	Verisk Analytics, Inc		5.800	%	05/01/21	$	205,998
	500,000	Verisk Analytics, Inc		4.000		06/15/25		570,377
	850,000	Verisk Analytics, Inc		4.125		03/15/29		1,001,814
	300,000	Verisk Analytics, Inc		5.500		06/15/45		415,700
	200,000	Verisk Analytics, Inc		3.625		05/15/50		227,532
	750,000	Waste Connections, Inc		3.500		05/01/29		853,403
	500,000	Waste Connections, Inc		2.600		02/01/30		537,394
	500,000	Waste Connections, Inc		3.050		04/01/50		521,810
	310,000	Waste Management, Inc		4.600		03/01/21		312,224
	850,000	Waste Management, Inc		2.900		09/15/22		885,866
	100,000	Waste Management, Inc		2.400		05/15/23		104,473
	1,000,000	Waste Management, Inc		3.500		05/15/24		1,093,954
	1,225,000	Waste Management, Inc		3.150		11/15/27		1,369,748
	234,000	Waste Management, Inc		3.900		03/01/35		283,117
	325,000	Waste Management, Inc		4.100		03/01/45		396,943
	900,000	Waste Management, Inc		4.150		07/15/49		1,146,419
		TOTAL COMMERCIAL & PROFESSIONAL SERVICES						29,623,038
CONSUMER DURABLES & APPAREL - 0.1%
	300,000	Coach, Inc		3.000		07/15/22		303,042
	700,000	Coach, Inc		4.125		07/15/27		688,653
	200,000	DR Horton, Inc		2.550		12/01/20		200,676
	500,000	DR Horton, Inc		4.375		09/15/22		530,342
	750,000	DR Horton, Inc		2.500		10/15/24		793,818
	500,000	DR Horton, Inc		2.600		10/15/25		536,094
	1,000,000	DR Horton, Inc		1.400		10/15/27		993,306
	200,000	Hasbro, Inc		3.150		05/15/21		202,173
	750,000	Hasbro, Inc		3.550		11/19/26		797,010
	775,000	Hasbro, Inc		3.500		09/15/27		806,884
	1,000,000	Hasbro, Inc		3.900		11/19/29		1,049,232
	100,000	Hasbro, Inc		6.350		03/15/40		117,781
	200,000	Hasbro, Inc		5.100		05/15/44		207,979
	200,000	Leggett & Platt, Inc		3.400		08/15/22		208,133
	475,000	Leggett & Platt, Inc		3.500		11/15/27		501,755
	350,000	Leggett & Platt, Inc		4.400		03/15/29		387,999
	100,000	Mohawk Industries, Inc		3.850		02/01/23		106,137
	750,000	Mohawk Industries, Inc		3.625		05/15/30		821,062
	300,000	NIKE, Inc		2.250		05/01/23		313,794
	650,000	NIKE, Inc		2.375		11/01/26		706,093
	300,000	NIKE, Inc		3.625		05/01/43		350,382
	825,000	NIKE, Inc		3.875		11/01/45		1,025,306
	200,000	NIKE, Inc		3.375		11/01/46		225,752
	2,440,000	NIKE, Inc		3.375		03/27/50		2,819,984
	150,000	NVR, Inc		3.950		09/15/22		158,462
	1,000,000	NVR, Inc		3.000		05/15/30		1,079,116
	1,000,000	Ralph Lauren Corp		1.700		06/15/22		1,017,929
	200,000	Ralph Lauren Corp		3.750		09/15/25		224,345
	1,000,000	Ralph Lauren Corp		2.950		06/15/30		1,043,364
	300,000	VF Corp		2.050		04/23/22		307,540
	400,000	VF Corp		2.400		04/23/25		424,218
	1,000,000	VF Corp		2.800		04/23/27		1,091,789
	200,000	VF Corp		2.950		04/23/30		217,598
	150,000	Whirlpool Corp		4.700		06/01/22		159,353
	100,000	Whirlpool Corp		3.700		03/01/23		106,694

19

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	100,000	Whirlpool Corp		4.000	%	03/01/24	$	109,842
	925,000	Whirlpool Corp		4.750		02/26/29		1,122,385
	200,000	Whirlpool Corp		4.500		06/01/46		235,925
	775,000	Whirlpool Corp		4.600		05/15/50		957,729
		TOTAL CONSUMER DURABLES & APPAREL						22,949,676
CONSUMER SERVICES - 0.5%
	14,500,000	Anheuser-Busch Cos LLC		3.650		02/01/26		16,205,368
	3,150,000	Anheuser-Busch Cos LLC		4.700		02/01/36		3,799,912
	11,375,000	Anheuser-Busch Cos LLC		4.900		02/01/46		14,100,313
	300,000	Board of Trustees of The Leland Stanford Junior University		3.647		05/01/48		368,843
	100,000	Children’s Hospital Corp		4.115		01/01/47		124,319
	1,000,000	Children’s Hospital Corp		2.585		02/01/50		981,046
	500,000	Choice Hotels International, Inc		3.700		12/01/29		529,445
	600,000	Cintas Corp No 2		2.900		04/01/22		620,625
	675,000	Cintas Corp No 2		3.700		04/01/27		777,791
	500,000	CommonSpirit Health		2.950		11/01/22		521,412
	750,000	CommonSpirit Health		2.760		10/01/24		786,968
	1,000,000	CommonSpirit Health		3.347		10/01/29		1,059,351
	300,000	CommonSpirit Health		4.350		11/01/42		325,584
	750,000	CommonSpirit Health		3.817		10/01/49		818,658
	715,000	CommonSpirit Health		4.187		10/01/49		759,085
	200,000	Darden Restaurants, Inc		3.850		05/01/27		211,679
	300,000	Darden Restaurants, Inc		4.550		02/15/48		298,078
	500,000	Emory University		2.143		09/01/30		523,565
	500,000	Emory University		2.969		09/01/50		546,546
	200,000	Hyatt Hotels Corp		3.375		07/15/23		204,886
	100,000	Hyatt Hotels Corp		5.375		04/23/25		107,635
	100,000	Hyatt Hotels Corp		4.850		03/15/26		107,562
	200,000	Hyatt Hotels Corp		4.375		09/15/28		206,255
	100,000	Hyatt Hotels Corp		5.750		04/23/30		114,757
	750,000	Johns Hopkins University		2.813		01/01/60		792,517
	1,000,000	Las Vegas Sands Corp		3.200		08/08/24		1,012,941
	500,000	Las Vegas Sands Corp		2.900		06/25/25		498,296
	625,000	Las Vegas Sands Corp		3.500		08/18/26		633,196
	750,000	Las Vegas Sands Corp		3.900		08/08/29		750,218
	500,000	Leland Stanford Junior University		1.289		06/01/27		507,335
	1,000,000	Leland Stanford Junior University		2.413		06/01/50		1,009,232
	300,000	Marriott International, Inc		2.875		03/01/21		301,863
	200,000	Marriott International, Inc		3.125		10/15/21		202,710
	300,000	Marriott International, Inc		4.150		12/01/23		315,501
	300,000	Marriott International, Inc		3.600		04/15/24		308,455
	125,000	Marriott International, Inc		5.750		05/01/25		139,374
	1,250,000	Marriott International, Inc		4.000		04/15/28		1,278,471
	300,000	Marriott International, Inc		4.650		12/01/28		319,971
	400,000	Marriott International, Inc		4.625		06/15/30		428,039
	1,500,000	Marriott International, Inc		3.500		10/15/32		1,478,728
	1,000,000	Massachusetts Institute of Technology		2.294		07/01/51		997,907
	750,000	Massachusetts Institute of Technology		5.600		07/01/11		1,292,802
	200,000	Massachusetts Institute of Technology		4.678		07/01/14		287,993
	300,000	Massachusetts Institute of Technology		3.885		07/01/16		376,456
	650,000	McDonald’s Corp		3.350		04/01/23		693,944

20

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	150,000	McDonald’s Corp		1.450	%	09/01/25	$	154,436
	2,950,000	McDonald’s Corp		3.700		01/30/26		3,358,990
	300,000	McDonald’s Corp		3.500		03/01/27		339,553
	775,000	McDonald’s Corp		3.800		04/01/28		901,231
	1,250,000	McDonald’s Corp		2.625		09/01/29		1,355,772
	500,000	McDonald’s Corp		2.125		03/01/30		519,915
	2,225,000	McDonald’s Corp		4.700		12/09/35		2,842,759
	250,000	McDonald’s Corp		6.300		10/15/37		372,869
	100,000	McDonald’s Corp		6.300		03/01/38		149,283
	250,000	McDonald’s Corp		4.600		05/26/45		309,501
	1,275,000	McDonald’s Corp		4.875		12/09/45		1,651,987
	725,000	McDonald’s Corp		4.450		03/01/47		898,521
	625,000	McDonald’s Corp		4.450		09/01/48		775,692
	1,825,000	McDonald’s Corp		3.625		09/01/49		2,038,533
	1,350,000	McDonald’s Corp		4.200		04/01/50		1,639,326
	750,000	Northeastern University		2.894		10/01/50		778,876
	200,000	Northwestern University		3.868		12/01/48		247,112
	750,000	Northwestern University		2.640		12/01/50		775,503
	200,000	Northwestern University		3.662		12/01/57		248,988
	1,000,000	President & Fellows of Harvard College		2.517		10/15/50		1,035,542
	750,000	President and Fellows of Harvard College		3.619		10/01/37		908,691
	200,000	President and Fellows of Harvard College		3.150		07/15/46		227,132
	200,000	President and Fellows of Harvard College		3.300		07/15/56		241,851
	1,250,000	Sands China Ltd		4.600		08/08/23		1,332,637
	2,800,000	Sands China Ltd		5.125		08/08/25		3,054,716
	1,100,000	Sands China Ltd		5.400		08/08/28		1,223,662
	200,000	Starbucks Corp		2.100		02/04/21		200,931
	200,000	Starbucks Corp		2.700		06/15/22		206,817
	525,000	Starbucks Corp		3.850		10/01/23		571,613
	175,000	Starbucks Corp		2.450		06/15/26		189,616
	500,000	Starbucks Corp		2.000		03/12/27		528,630
	750,000	Starbucks Corp		3.500		03/01/28		853,140
	650,000	Starbucks Corp		4.000		11/15/28		765,095
	750,000	Starbucks Corp		3.550		08/15/29		860,124
	500,000	Starbucks Corp		2.250		03/12/30		518,917
	1,500,000	Starbucks Corp		2.550		11/15/30		1,586,388
	200,000	Starbucks Corp		4.300		06/15/45		235,049
	200,000	Starbucks Corp		3.750		12/01/47		217,447
	650,000	Starbucks Corp		4.500		11/15/48		793,213
	1,000,000	Starbucks Corp		4.450		08/15/49		1,212,392
	500,000	Starbucks Corp		3.350		03/12/50		511,874
	1,000,000	Starbucks Corp		3.500		11/15/50		1,055,703
	200,000	Trinity Acquisition plc		3.500		09/15/21		204,906
	200,000	Trinity Acquisition plc		4.400		03/15/26		230,902
	500,000	Trustees of Boston College		3.129		07/01/52		559,735
	100,000	Trustees of Boston University		4.061		10/01/48		131,032
	1,000,000	Trustees of Princeton University		2.516		07/01/50		1,046,048
	200,000	Wesleyan University		4.781		07/01/16		255,229
	500,000	Yale University		0.873		04/15/25		503,672
	750,000	Yale University		1.482		04/15/30		758,407
	750,000	Yale University		2.402		04/15/50		765,646
		TOTAL CONSUMER SERVICES						99,871,236

21

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
DIVERSIFIED FINANCIALS - 3.0%
$	1,083,000	AerCap Ireland Capital DAC		5.000	%	10/01/21	$	1,116,231
	300,000	AerCap Ireland Capital DAC		4.450		12/16/21		306,511
	800,000	AerCap Ireland Capital DAC		3.950		02/01/22		809,901
	200,000	AerCap Ireland Capital DAC		3.300		01/23/23		200,676
	300,000	AerCap Ireland Capital DAC		4.125		07/03/23		306,088
	1,500,000	AerCap Ireland Capital DAC		4.500		09/15/23		1,545,355
	600,000	AerCap Ireland Capital DAC		4.875		01/16/24		621,284
	1,000,000	AerCap Ireland Capital DAC		3.150		02/15/24		991,586
	750,000	AerCap Ireland Capital DAC		2.875		08/14/24		722,157
	1,675,000	AerCap Ireland Capital DAC		3.500		01/15/25		1,631,356
	300,000	AerCap Ireland Capital DAC		4.450		10/01/25		300,929
	500,000	AerCap Ireland Capital DAC		4.450		04/03/26		497,962
	250,000	AerCap Ireland Capital DAC		3.650		07/21/27		228,887
	1,000,000	AerCap Ireland Capital DAC		4.625		10/15/27		969,822
	200,000	AerCap Ireland Capital DAC		3.875		01/23/28		184,251
	200,000	Affiliated Managers Group, Inc		4.250		02/15/24		220,314
	1,000,000	Affiliated Managers Group, Inc		3.300		06/15/30		1,068,582
	20,000	Ahold Finance USA LLC		6.875		05/01/29		28,297
	1,000,000	Ally Financial, Inc		4.125		02/13/22		1,037,501
	1,000,000	Ally Financial, Inc		3.050		06/05/23		1,039,054
	1,000,000	Ally Financial, Inc		1.450		10/02/23		997,508
	500,000	Ally Financial, Inc		5.800		05/01/25		575,696
	2,000,000	Ally Financial, Inc		8.000		11/01/31		2,736,458
	200,000	American Express Co		3.700		11/05/21		206,557
	1,050,000	American Express Co		2.500		08/01/22		1,087,292
	175,000	American Express Co		2.650		12/02/22		183,315
	5,000,000	American Express Co		3.400		02/27/23		5,322,535
	2,000,000	American Express Co		3.700		08/03/23		2,166,354
	750,000	American Express Co		3.000		10/30/24		813,558
	1,000,000	American Express Co		4.200		11/06/25		1,157,585
	2,500,000	American Express Co		3.125		05/20/26		2,787,143
	525,000	American Express Co		4.050		12/03/42		659,782
	1,050,000	American Express Credit Corp		2.700		03/03/22		1,083,156
	450,000	American Honda Finance Corp		1.650		07/12/21		454,580
	375,000	American Honda Finance Corp		1.700		09/09/21		379,453
	950,000	American Honda Finance Corp		3.375		12/10/21		982,567
	1,000,000	American Honda Finance Corp		1.950		05/20/22		1,024,746
	325,000	American Honda Finance Corp		1.994		01/10/23		335,930
	1,250,000	American Honda Finance Corp		0.875		07/07/23		1,260,193
	300,000	American Honda Finance Corp		3.450		07/14/23		323,411
	750,000	American Honda Finance Corp		0.650		09/08/23		749,739
	500,000	American Honda Finance Corp		3.625		10/10/23		544,512
	300,000	American Honda Finance Corp		3.550		01/12/24		327,299
	200,000	American Honda Finance Corp		2.900		02/16/24		213,927
	1,000,000	American Honda Finance Corp		2.400		06/27/24		1,058,659
	500,000	American Honda Finance Corp		2.150		09/10/24		526,057
	1,000,000	American Honda Finance Corp		1.200		07/08/25		1,007,280
	750,000	American Honda Finance Corp		1.000		09/10/25		748,721
	100,000	American Honda Finance Corp		2.300		09/09/26		106,616
	1,000,000	American Honda Finance Corp		2.350		01/08/27		1,067,329
	500,000	American Honda Finance Corp		3.500		02/15/28		566,979
	150,000	Ameriprise Financial, Inc		3.000		03/22/22		155,640
	875,000	Ameriprise Financial, Inc		4.000		10/15/23		966,684

22

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	300,000		Ameriprise Financial, Inc		3.700	%	10/15/24	$	334,731
	125,000		Ameriprise Financial, Inc		3.000		04/02/25		136,700
	200,000		Ameriprise Financial, Inc		2.875		09/15/26		219,647
	1,000,000		Andrew W Mellon Foundation		0.947		08/01/27		1,000,224
	200,000		Ares Capital Corp		3.625		01/19/22		205,783
	600,000		Ares Capital Corp		3.500		02/10/23		615,827
	850,000		Ares Capital Corp		4.200		06/10/24		885,303
	500,000		Ares Capital Corp		4.250		03/01/25		518,342
	500,000		Ares Capital Corp		3.250		07/15/25		496,792
	1,200,000		Ares Capital Corp		3.875		01/15/26		1,223,766
	750,000		Australia & New Zealand Banking Group Ltd		2.550		11/23/21		769,560
	300,000		Australia & New Zealand Banking Group Ltd		2.625		05/19/22		311,351
	550,000		Australia & New Zealand Banking Group Ltd		2.625		11/09/22		576,521
	1,000,000		Australia & New Zealand Banking Group Ltd		2.050		11/21/22		1,034,799
	525,000		Australia & New Zealand Banking Group Ltd		3.700		11/16/25		599,608
	350,000		AXA Equitable Holdings, Inc		3.900		04/20/23		376,078
	1,375,000		AXA Equitable Holdings, Inc		4.350		04/20/28		1,565,638
	975,000		AXA Equitable Holdings, Inc		5.000		04/20/48		1,150,161
	1,500,000		Bank of Montreal		2.900		03/26/22		1,556,153
	850,000		Bank of Montreal		2.350		09/11/22		883,544
	1,000,000		Bank of Montreal		2.050		11/01/22		1,034,219
	350,000		Bank of Montreal		2.550		11/06/22		365,554
	1,425,000		Bank of Montreal		3.300		02/05/24		1,543,545
	1,000,000		Bank of Montreal		2.500		06/28/24		1,062,949
	750,000		Bank of Montreal		1.850		05/01/25		782,102
	750,000		Bank of Montreal		4.338		10/05/28		807,226
	425,000		Bank of Montreal		3.803		12/15/32		473,452
	750,000		Bank of Montreal		4.800		N/A‡		759,375
	500,000		Bank of New York Mellon Corp		3.550		09/23/21		514,468
	925,000		Bank of New York Mellon Corp		2.600		02/07/22		951,723
	375,000		Bank of New York Mellon Corp		1.950		08/23/22		386,453
	750,000		Bank of New York Mellon Corp		1.850		01/27/23		773,815
	2,625,000		Bank of New York Mellon Corp		2.950		01/29/23		2,764,937
	1,025,000		Bank of New York Mellon Corp		3.500		04/28/23		1,104,817
	825,000		Bank of New York Mellon Corp		2.200		08/16/23		865,708
	350,000		Bank of New York Mellon Corp		3.650		02/04/24		384,042
	800,000		Bank of New York Mellon Corp		3.250		09/11/24		876,973
	1,750,000		Bank of New York Mellon Corp		2.100		10/24/24		1,852,465
	500,000		Bank of New York Mellon Corp		3.000		02/24/25		548,154
	725,000		Bank of New York Mellon Corp		1.600		04/24/25		752,658
	500,000		Bank of New York Mellon Corp		2.800		05/04/26		553,038
	500,000		Bank of New York Mellon Corp		2.450		08/17/26		546,597
	800,000		Bank of New York Mellon Corp		3.250		05/16/27		908,793
	1,000,000		Bank of New York Mellon Corp		3.400		01/29/28		1,155,763
	600,000		Bank of New York Mellon Corp		3.850		04/28/28		724,612
	400,000		Bank of New York Mellon Corp		3.300		08/23/29		458,240
	1,325,000		Berkshire Hathaway, Inc		2.750		03/15/23		1,395,662
	2,400,000		Berkshire Hathaway, Inc		3.125		03/15/26		2,678,716
	800,000		Berkshire Hathaway, Inc		4.500		02/11/43		1,053,485
	250,000		BGC Partners, Inc		5.375		07/24/23		265,486
	500,000		BGC Partners, Inc		3.750		10/01/24		501,953
	750,000	g	BGC Partners, Inc		4.375		12/15/25		765,000
	5,325,000		BlackRock, Inc		3.375		06/01/22		5,590,908
	500,000		BlackRock, Inc		3.500		03/18/24		550,919

23

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	850,000	BlackRock, Inc		3.250	%	04/30/29	$	982,122
	450,000	BlackRock, Inc		1.900		01/28/31		466,621
	200,000	Block Financial LLC		5.500		11/01/22		213,485
	200,000	Block Financial LLC		5.250		10/01/25		223,932
	750,000	Block Financial LLC		3.875		08/15/30		753,393
	300,000	Brookfield Asset Management, Inc		4.000		01/15/25		336,405
	1,000,000	Brookfield Finance LLC		3.450		04/15/50		982,368
	550,000	Brookfield Finance, Inc		4.000		04/01/24		605,154
	200,000	Brookfield Finance, Inc		4.250		06/02/26		229,181
	300,000	Brookfield Finance, Inc		3.900		01/25/28		333,910
	600,000	Brookfield Finance, Inc		4.850		03/29/29		713,976
	300,000	Brookfield Finance, Inc		4.350		04/15/30		349,141
	725,000	Brookfield Finance, Inc		4.700		09/20/47		845,586
	1,000,000	Brookfield Finance, Inc		3.500		03/30/51		978,477
	275,000	Capital One Bank USA NA		3.375		02/15/23		290,617
	2,250,000	Capital One Financial Corp		3.050		03/09/22		2,324,165
	1,925,000	Capital One Financial Corp		3.200		01/30/23		2,032,069
	500,000	Capital One Financial Corp		2.600		05/11/23		523,228
	150,000	Capital One Financial Corp		3.500		06/15/23		160,465
	300,000	Capital One Financial Corp		3.900		01/29/24		326,497
	750,000	Capital One Financial Corp		3.300		10/30/24		812,757
	125,000	Capital One Financial Corp		3.200		02/05/25		135,016
	625,000	Capital One Financial Corp		4.250		04/30/25		708,919
	850,000	Capital One Financial Corp		4.200		10/29/25		942,155
	700,000	Capital One Financial Corp		3.750		07/28/26		760,975
	1,075,000	Capital One Financial Corp		3.750		03/09/27		1,193,062
	1,000,000	Capital One Financial Corp		3.650		05/11/27		1,103,171
	2,700,000	Capital One Financial Corp		3.800		01/31/28		3,015,982
	450,000	CBOE Holdings, Inc		3.650		01/12/27		511,446
	500,000	Celanese US Holdings LLC		4.625		11/15/22		537,692
	200,000	Celanese US Holdings LLC		3.500		05/08/24		215,230
	425,000	Charles Schwab Corp		2.650		01/25/23		445,581
	300,000	Charles Schwab Corp		3.550		02/01/24		327,683
	200,000	Charles Schwab Corp		3.000		03/10/25		218,692
	1,250,000	Charles Schwab Corp		3.850		05/21/25		1,416,024
	500,000	Charles Schwab Corp		3.200		03/02/27		560,281
	200,000	Charles Schwab Corp		3.200		01/25/28		224,963
	300,000	Charles Schwab Corp		4.000		02/01/29		359,724
	1,000,000	Charles Schwab Corp		3.250		05/22/29		1,148,287
	350,000	CME Group, Inc		3.000		09/15/22		367,481
	475,000	CME Group, Inc		3.000		03/15/25		519,744
	500,000	CME Group, Inc		3.750		06/15/28		585,196
	400,000	CME Group, Inc		5.300		09/15/43		592,895
	500,000	CME Group, Inc		4.150		06/15/48		662,527
	2,000,000	Credit Suisse AG.		2.100		11/12/21		2,037,656
	2,000,000	Credit Suisse AG.		1.000		05/05/23		2,020,760
	2,900,000	Credit Suisse AG.		3.625		09/09/24		3,209,806
	500,000	Credit Suisse AG.		2.950		04/09/25		545,770
	1,275,000	Credit Suisse Group Funding Guernsey Ltd		3.800		06/09/23		1,371,111
	2,300,000	Credit Suisse Group Funding Guernsey Ltd		3.750		03/26/25		2,548,147
	2,750,000	Credit Suisse Group Funding Guernsey Ltd		4.550		04/17/26		3,204,097
	1,250,000	Credit Suisse Group Funding Guernsey Ltd		4.875		05/15/45		1,642,360
	2,000,000	Deutsche Bank AG.		3.150		01/22/21		2,012,187

24

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	500,000	Deutsche Bank AG.		4.250	%	02/04/21	$	505,307
	500,000	Deutsche Bank AG.		3.375		05/12/21		506,680
	400,000	Deutsche Bank AG.		3.300		11/16/22		413,628
	750,000	Deutsche Bank AG.		3.950		02/27/23		787,721
	525,000	Deutsche Bank AG.		3.700		05/30/24		549,977
	1,000,000	Deutsche Bank AG.		2.222		09/18/24		1,006,564
	1,000,000	Deutsche Bank AG.		3.961		11/26/25		1,062,719
	1,800,000	Deutsche Bank AG.		4.100		01/13/26		1,907,941
	825,000	Deutsche Bank AG.		3.547		09/18/31		829,025
	2,575,000	Diageo Investment Corp		2.875		05/11/22		2,676,387
	100,000	Diageo Investment Corp		4.250		05/11/42		123,455
	100,000	Discover Financial Services		5.200		04/27/22		106,744
	700,000	Discover Financial Services		3.950		11/06/24		770,108
	200,000	Discover Financial Services		4.500		01/30/26		228,136
	350,000	Discover Financial Services		4.100		02/09/27		387,965
	475,000	E*TRADE Financial Corp		2.950		08/24/22		494,829
	200,000	E*TRADE Financial Corp		3.800		08/24/27		224,726
	300,000	E*TRADE Financial Corp		4.500		06/20/28		351,615
	300,000	Eaton Vance Corp		3.625		06/15/23		321,737
	200,000	Eaton Vance Corp		3.500		04/06/27		222,802
	750,000	Ford Foundation		2.415		06/01/50		768,430
	525,000	Ford Foundation		2.815		06/01/70		545,886
	150,000	Franklin Resources, Inc		2.800		09/15/22		156,622
	200,000	Franklin Resources, Inc		2.850		03/30/25		218,651
	750,000	FS KKR Capital Corp		4.125		02/01/25		745,158
	2,852,000	GE Capital International Funding Co		2.342		11/15/20		2,858,382
	5,768,000	GE Capital International Funding Co		3.373		11/15/25		6,151,204
	8,444,000	GE Capital International Funding Co		4.418		11/15/35		8,923,969
	2,000,000	General Motors Financial Co, Inc		3.550		04/09/21		2,027,381
	875,000	General Motors Financial Co, Inc		3.200		07/06/21		888,231
	575,000	General Motors Financial Co, Inc		4.200		11/06/21		593,696
	1,000,000	General Motors Financial Co, Inc		3.450		01/14/22		1,025,567
	2,700,000	General Motors Financial Co, Inc		3.450		04/10/22		2,775,791
	525,000	General Motors Financial Co, Inc		3.150		06/30/22		539,272
	850,000	General Motors Financial Co, Inc		3.550		07/08/22		879,032
	300,000	General Motors Financial Co, Inc		3.250		01/05/23		310,029
	1,125,000	General Motors Financial Co, Inc		3.700		05/09/23		1,175,546
	725,000	General Motors Financial Co, Inc		4.150		06/19/23		768,430
	650,000	General Motors Financial Co, Inc		5.100		01/17/24		710,845
	725,000	General Motors Financial Co, Inc		3.950		04/13/24		766,974
	1,500,000	General Motors Financial Co, Inc		3.500		11/07/24		1,575,547
	125,000	General Motors Financial Co, Inc		4.000		01/15/25		133,570
	1,000,000	General Motors Financial Co, Inc		2.900		02/26/25		1,030,244
	5,175,000	General Motors Financial Co, Inc		4.350		04/09/25		5,612,906
	500,000	General Motors Financial Co, Inc		2.750		06/20/25		512,160
	450,000	General Motors Financial Co, Inc		4.300		07/13/25		489,637
	275,000	General Motors Financial Co, Inc		5.250		03/01/26		309,324
	525,000	General Motors Financial Co, Inc		4.000		10/06/26		563,384
	1,400,000	General Motors Financial Co, Inc		4.350		01/17/27		1,520,546
	1,000,000	General Motors Financial Co, Inc		2.700		08/20/27		995,445
	1,100,000	General Motors Financial Co, Inc		3.850		01/05/28		1,161,757
	2,400,000	General Motors Financial Co, Inc		5.650		01/17/29		2,801,681
	1,500,000	General Motors Financial Co, Inc		3.600		06/21/30		1,546,567
	500,000	Goldman Sachs BDC, Inc		3.750		02/10/25		524,815

25

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	1,300,000	Goldman Sachs Group, Inc		5.250	%	07/27/21	$	1,350,677
	675,000	Goldman Sachs Group, Inc		2.350		11/15/21		676,544
	5,625,000	Goldman Sachs Group, Inc		5.750		01/24/22		6,004,309
	1,350,000	Goldman Sachs Group, Inc		3.000		04/26/22		1,369,468
	2,275,000	Goldman Sachs Group, Inc		3.625		01/22/23		2,431,728
	5,425,000	Goldman Sachs Group, Inc		3.200		02/23/23		5,742,703
	2,575,000	Goldman Sachs Group, Inc		3.625		02/20/24		2,796,080
	2,025,000	Goldman Sachs Group, Inc		4.000		03/03/24		2,226,921
	425,000	Goldman Sachs Group, Inc		3.850		07/08/24		466,895
	600,000	Goldman Sachs Group, Inc		3.500		01/23/25		658,203
	250,000	Goldman Sachs Group, Inc		3.500		04/01/25		275,837
	1,100,000	Goldman Sachs Group, Inc		3.750		05/22/25		1,222,307
	2,375,000	Goldman Sachs Group, Inc		3.272		09/29/25		2,570,839
	575,000	Goldman Sachs Group, Inc		4.250		10/21/25		653,252
	1,125,000	Goldman Sachs Group, Inc		3.750		02/25/26		1,265,916
	425,000	Goldman Sachs Group, Inc		3.500		11/16/26		469,620
	125,000	Goldman Sachs Group, Inc		5.950		01/15/27		153,853
	3,950,000	Goldman Sachs Group, Inc		3.850		01/26/27		4,438,291
	4,475,000	Goldman Sachs Group, Inc		3.691		06/05/28		5,017,098
	8,525,000	Goldman Sachs Group, Inc		3.814		04/23/29		9,703,138
	550,000	Goldman Sachs Group, Inc		4.223		05/01/29		640,572
	2,500,000	Goldman Sachs Group, Inc		2.600		02/07/30		2,637,942
	900,000	Goldman Sachs Group, Inc		6.750		10/01/37		1,302,260
	925,000	Goldman Sachs Group, Inc		4.017		10/31/38		1,077,426
	4,525,000	Goldman Sachs Group, Inc		4.411		04/23/39		5,507,918
	2,475,000	Goldman Sachs Group, Inc		6.250		02/01/41		3,694,564
	1,225,000	Goldman Sachs Group, Inc		4.800		07/08/44		1,600,188
	1,650,000	Goldman Sachs Group, Inc		5.150		05/22/45		2,143,829
	200,000	Goldman Sachs Group, Inc		4.750		10/21/45		262,566
	300,000	Intercontinental Exchange, Inc		2.350		09/15/22		310,460
	1,000,000	Intercontinental Exchange, Inc		0.700		06/15/23		1,002,396
	300,000	Intercontinental Exchange, Inc		3.450		09/21/23		324,686
	350,000	Intercontinental Exchange, Inc		4.000		10/15/23		383,951
	825,000	Intercontinental Exchange, Inc		3.750		12/01/25		931,588
	1,000,000	Intercontinental Exchange, Inc		3.100		09/15/27		1,104,676
	500,000	Intercontinental Exchange, Inc		3.750		09/21/28		578,320
	1,500,000	Intercontinental Exchange, Inc		2.100		06/15/30		1,550,238
	1,000,000	Intercontinental Exchange, Inc		1.850		09/15/32		994,761
	775,000	Intercontinental Exchange, Inc		2.650		09/15/40		771,075
	575,000	Intercontinental Exchange, Inc		4.250		09/21/48		712,985
	1,000,000	Intercontinental Exchange, Inc		3.000		06/15/50		1,048,453
	1,000,000	Intercontinental Exchange, Inc		3.000		09/15/60		1,010,780
	600,000	International Lease Finance Corp		5.875		08/15/22		641,996
	125,000	Invesco Finance plc		3.125		11/30/22		131,789
	200,000	Invesco Finance plc		4.000		01/30/24		218,646
	800,000	Invesco Finance plc		3.750		01/15/26		899,072
	200,000	Invesco Finance plc		5.375		11/30/43		248,901
	300,000	Janus Capital Group, Inc		4.875		08/01/25		343,302
	500,000	Jefferies Group LLC		6.875		04/15/21		516,194
	1,000,000	Jefferies Group LLC		4.850		01/15/27		1,135,760
	600,000	Jefferies Group LLC		6.450		06/08/27		731,137
	1,000,000	Jefferies Group LLC		4.150		01/23/30		1,125,986
	1,000,000	Jefferies Group LLC		2.750		10/15/32		989,680

26

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	150,000		Lazard Group LLC		3.750	%	02/13/25	$	162,564
	200,000		Lazard Group LLC		3.625		03/01/27		215,918
	325,000		Lazard Group LLC		4.500		09/19/28		375,756
	425,000		Lazard Group LLC		4.375		03/11/29		487,579
	400,000		Legg Mason, Inc		5.625		01/15/44		552,812
	200,000		Moody’s Corp		2.625		01/15/23		209,076
	1,200,000		Moody’s Corp		3.250		01/15/28		1,357,401
	300,000		Moody’s Corp		4.250		02/01/29		359,103
	200,000		Moody’s Corp		5.250		07/15/44		273,597
	300,000		Moody’s Corp		4.875		12/17/48		398,531
	750,000		Moody’s Corp		3.250		05/20/50		801,005
	4,275,000		Morgan Stanley		2.750		05/19/22		4,430,157
	2,850,000		Morgan Stanley		4.875		11/01/22		3,081,074
	475,000		Morgan Stanley		3.750		02/25/23		509,853
	3,175,000		Morgan Stanley		4.100		05/22/23		3,431,717
	5,350,000		Morgan Stanley		3.737		04/24/24		5,757,115
	4,092,000		Morgan Stanley		3.700		10/23/24		4,535,371
	1,025,000		Morgan Stanley		2.720		07/22/25		1,088,816
	500,000		Morgan Stanley		4.000		07/23/25		564,177
	950,000		Morgan Stanley		5.000		11/24/25		1,114,317
	575,000		Morgan Stanley		3.875		01/27/26		655,365
	500,000		Morgan Stanley		3.125		07/27/26		551,963
	400,000		Morgan Stanley		4.350		09/08/26		462,340
	2,750,000		Morgan Stanley		3.625		01/20/27		3,106,443
	1,975,000		Morgan Stanley		3.950		04/23/27		2,231,185
	1,575,000		Morgan Stanley		3.591		07/22/28		1,770,500
	4,850,000		Morgan Stanley		3.772		01/24/29		5,522,894
	3,475,000		Morgan Stanley		4.431		01/23/30		4,156,555
	5,000,000		Morgan Stanley		2.699		01/22/31		5,338,000
	500,000		Morgan Stanley		3.622		04/01/31		570,899
	150,000		Morgan Stanley		7.250		04/01/32		225,781
	725,000		Morgan Stanley		3.971		07/22/38		857,741
	2,675,000		Morgan Stanley		4.457		04/22/39		3,337,083
	275,000		Morgan Stanley		6.375		07/24/42		427,814
	175,000		Morgan Stanley		4.300		01/27/45		221,757
	3,200,000		Morgan Stanley		4.375		01/22/47		4,126,076
	900,000		Morgan Stanley		5.597		03/24/51		1,354,246
	250,000		NASDAQ, Inc		4.250		06/01/24		279,090
	400,000		NASDAQ, Inc		3.850		06/30/26		454,665
	500,000		NASDAQ, Inc		3.250		04/28/50		520,936
	350,000		National Rural Utilities Cooperative Finance Corp		3.050		02/15/22		360,174
	500,000		National Rural Utilities Cooperative Finance Corp		2.400		04/25/22		514,899
	500,000		National Rural Utilities Cooperative Finance Corp		2.300		09/15/22		517,771
	200,000		National Rural Utilities Cooperative Finance Corp		2.700		02/15/23		209,706
	200,000		National Rural Utilities Cooperative Finance Corp		3.400		11/15/23		216,447
	300,000		National Rural Utilities Cooperative Finance Corp		2.950		02/07/24		322,381
	400,000		National Rural Utilities Cooperative Finance Corp		2.850		01/27/25		435,459
	200,000		National Rural Utilities Cooperative Finance Corp		3.250		11/01/25		223,479
	1,000,000		National Rural Utilities Cooperative Finance Corp		3.400		02/07/28		1,153,038
	200,000		National Rural Utilities Cooperative Finance Corp		3.900		11/01/28		237,873
	300,000		National Rural Utilities Cooperative Finance Corp		3.700		03/15/29		352,004
	1,000,000		National Rural Utilities Cooperative Finance Corp		2.400		03/15/30		1,089,519
	1,000,000	h	National Rural Utilities Cooperative Finance Corp		1.350		03/15/31		994,943
	500,000		National Rural Utilities Cooperative Finance Corp		4.750		04/30/43		515,016

27

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	200,000	National Rural Utilities Cooperative Finance Corp		5.250	%	04/20/46	$	216,150
	200,000	National Rural Utilities Cooperative Finance Corp		4.400		11/01/48		261,683
	550,000	National Rural Utilities Cooperative Finance Corp		4.300		03/15/49		712,824
	300,000	Navient Solutions LLC		0.000		10/03/22		294,737
	1,500,000	Nomura Holdings, Inc		2.648		01/16/25		1,579,292
	1,000,000	Nomura Holdings, Inc		1.851		07/16/25		1,018,053
	1,500,000	Nomura Holdings, Inc		3.103		01/16/30		1,591,853
	500,000	Nomura Holdings, Inc		2.679		07/16/30		514,624
	350,000	Northern Trust Corp		2.375		08/02/22		363,131
	625,000	Northern Trust Corp		3.950		10/30/25		723,730
	500,000	Northern Trust Corp		3.650		08/03/28		590,717
	500,000	Northern Trust Corp		3.150		05/03/29		569,868
	700,000	Northern Trust Corp		1.950		05/01/30		728,205
	100,000	Northern Trust Corp		3.375		05/08/32		109,309
	375,000	Oesterreichische Kontrollbank AG.		2.875		09/07/21		384,127
	500,000	Oesterreichische Kontrollbank AG.		2.375		10/01/21		510,534
	750,000	Oesterreichische Kontrollbank AG.		2.625		01/31/22		773,531
	1,200,000	Oesterreichische Kontrollbank AG.		1.625		09/17/22		1,231,515
	750,000	Oesterreichische Kontrollbank AG.		2.875		03/13/23		796,975
	1,350,000	Oesterreichische Kontrollbank AG.		3.125		11/07/23		1,466,098
	1,500,000	Oesterreichische Kontrollbank AG.		1.500		02/12/25		1,571,310
	2,000,000	Oesterreichische Kontrollbank AG.		0.375		09/17/25		1,991,138
	475,000	ORIX Corp		2.900		07/18/22		491,699
	500,000	ORIX Corp		4.050		01/16/24		547,485
	500,000	ORIX Corp		3.250		12/04/24		541,984
	200,000	ORIX Corp		3.700		07/18/27		225,630
	500,000	Owl Rock Capital Corp		4.000		03/30/25		504,500
	500,000	Owl Rock Capital Corp		3.750		07/22/25		498,352
	1,000,000	Owl Rock Capital Corp		4.250		01/15/26		1,012,808
	300,000	PACCAR Financial Corp		2.850		03/01/22		310,497
	750,000	PACCAR Financial Corp		2.650		05/10/22		777,242
	200,000	PACCAR Financial Corp		2.000		09/26/22		206,198
	500,000	PACCAR Financial Corp		2.650		04/06/23		527,052
	500,000	PACCAR Financial Corp		0.800		06/08/23		503,501
	200,000	PACCAR Financial Corp		3.400		08/09/23		215,773
	2,000,000	PACCAR Financial Corp		0.350		08/11/23		1,996,964
	300,000	PACCAR Financial Corp		2.150		08/15/24		316,921
	600,000	Raymond James Financial, Inc		3.625		09/15/26		691,421
	425,000	Raymond James Financial, Inc		4.950		07/15/46		548,530
	300,000	S&P Global, Inc		4.000		06/15/25		343,584
	500,000	S&P Global, Inc		2.500		12/01/29		544,187
	500,000	S&P Global, Inc		1.250		08/15/30		491,551
	500,000	S&P Global, Inc		3.250		12/01/49		569,914
	500,000	S&P Global, Inc		2.300		08/15/60		447,757
	436,000	Shire Acquisitions Investments Ireland DAC		2.400		09/23/21		443,870
	3,125,000	Shire Acquisitions Investments Ireland DAC		2.875		09/23/23		3,316,980
	1,400,000	Shire Acquisitions Investments Ireland DAC		3.200		09/23/26		1,556,304
	500,000	State Street Corp		2.653		05/15/23		517,643
	2,150,000	State Street Corp		3.100		05/15/23		2,291,732
	300,000	State Street Corp		3.776		12/03/24		328,343
	750,000	State Street Corp		3.300		12/16/24		830,482
	375,000	State Street Corp		3.550		08/18/25		424,810
	1,000,000	State Street Corp		2.354		11/01/25		1,058,317

28

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	500,000	g	State Street Corp		2.901	%	03/30/26	$	543,381
	650,000		State Street Corp		2.650		05/19/26		711,637
	300,000		State Street Corp		4.141		12/03/29		363,191
	750,000		State Street Corp		2.400		01/24/30		817,054
	500,000		State Street Corp		3.031		11/01/34		544,657
	200,000		Stifel Financial Corp		3.500		12/01/20		200,670
	100,000		Stifel Financial Corp		4.250		07/18/24		112,351
	550,000		Synchrony Financial		2.850		07/25/22		566,499
	500,000		Synchrony Financial		4.375		03/19/24		541,042
	250,000		Synchrony Financial		4.250		08/15/24		271,619
	600,000		Synchrony Financial		4.500		07/23/25		662,207
	300,000		Synchrony Financial		3.700		08/04/26		319,696
	900,000		Synchrony Financial		3.950		12/01/27		968,027
	500,000		Synchrony Financial		5.150		03/19/29		577,671
	300,000		Syngenta Finance NV		3.125		03/28/22		305,460
	425,000		TD Ameritrade Holding Corp		2.950		04/01/22		439,321
	300,000		TD Ameritrade Holding Corp		3.750		04/01/24		331,096
	350,000		TD Ameritrade Holding Corp		3.625		04/01/25		392,483
	525,000		TD Ameritrade Holding Corp		3.300		04/01/27		589,057
	500,000		TD Ameritrade Holding Corp		2.750		10/01/29		553,308
	500,000		Toyota Motor Credit Corp		3.400		09/15/21		514,580
	1,000,000		Toyota Motor Credit Corp		1.800		10/07/21		1,014,248
	1,750,000		Toyota Motor Credit Corp		2.600		01/11/22		1,801,354
	300,000		Toyota Motor Credit Corp		2.800		07/13/22		312,836
	2,250,000		Toyota Motor Credit Corp		0.450		07/22/22		2,254,587
	500,000		Toyota Motor Credit Corp		2.150		09/08/22		517,140
	500,000		Toyota Motor Credit Corp		2.700		01/11/23		524,475
	1,000,000		Toyota Motor Credit Corp		0.500		08/14/23		1,000,241
	500,000		Toyota Motor Credit Corp		3.450		09/20/23		542,800
	400,000		Toyota Motor Credit Corp		3.350		01/08/24		434,604
	1,000,000		Toyota Motor Credit Corp		2.000		10/07/24		1,046,952
	3,000,000		Toyota Motor Credit Corp		1.800		02/13/25		3,133,689
	1,500,000		Toyota Motor Credit Corp		3.400		04/14/25		1,669,814
	1,000,000		Toyota Motor Credit Corp		1.150		08/13/27		998,360
	300,000		Toyota Motor Credit Corp		3.050		01/11/28		336,255
	400,000		Toyota Motor Credit Corp		3.650		01/08/29		468,595
	650,000		Toyota Motor Credit Corp		2.150		02/13/30		684,573
	225,000		Toyota Motor Credit Corp		3.375		04/01/30		259,069
	300,000		Unilever Capital Corp		1.375		07/28/21		302,725
	625,000		Unilever Capital Corp		3.000		03/07/22		648,852
	625,000		Unilever Capital Corp		2.200		05/05/22		642,747
	500,000		Unilever Capital Corp		3.125		03/22/23		533,405
	750,000		Unilever Capital Corp		0.375		09/14/23		751,302
	300,000		Unilever Capital Corp		3.250		03/07/24		326,493
	1,100,000		Unilever Capital Corp		2.600		05/05/24		1,178,004
	500,000		Unilever Capital Corp		3.375		03/22/25		558,637
	450,000		Unilever Capital Corp		3.100		07/30/25		501,023
	225,000		Unilever Capital Corp		2.000		07/28/26		240,478
	800,000		Unilever Capital Corp		2.900		05/05/27		892,172
	1,150,000		Unilever Capital Corp		3.500		03/22/28		1,334,485
	1,000,000		Unilever Capital Corp		2.125		09/06/29		1,057,439
	175,000		Unilever Capital Corp		1.375		09/14/30		176,104
	430,000		Unilever Capital Corp		5.900		11/15/32		632,240
	200,000		Voya Financial, Inc		3.125		07/15/24		215,606

29

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	550,000	Voya Financial, Inc		3.650	%	06/15/26	$	623,183
	200,000	Voya Financial, Inc		5.700		07/15/43		267,877
	200,000	Voya Financial, Inc		4.800		06/15/46		243,496
	450,000	Wells Fargo & Co		2.550		12/07/20		451,818
	1,900,000	Wells Fargo & Co		2.625		07/22/22		1,970,973
	1,375,000	Wells Fargo & Co		3.450		02/13/23		1,457,146
	800,000	Wells Fargo & Co		4.125		08/15/23		871,460
	334,000	Wells Fargo & Co		4.480		01/16/24		370,102
	1,350,000	Wells Fargo & Co		3.750		01/24/24		1,466,591
	825,000	Wells Fargo & Co		1.654		06/02/24		840,164
	2,700,000	Wells Fargo & Co		3.300		09/09/24		2,943,482
	4,100,000	Wells Fargo & Co		3.000		02/19/25		4,424,145
	1,125,000	Wells Fargo & Co		3.550		09/29/25		1,250,865
	2,000,000	Wells Fargo & Co		2.406		10/30/25		2,095,387
	1,500,000	Wells Fargo & Co		2.164		02/11/26		1,557,051
	3,350,000	Wells Fargo & Co		3.000		04/22/26		3,643,707
	1,000,000	Wells Fargo & Co		2.188		04/30/26		1,038,564
	1,250,000	Wells Fargo & Co		4.100		06/03/26		1,407,364
	2,575,000	Wells Fargo & Co		3.000		10/23/26		2,810,814
	1,500,000	Wells Fargo & Co		3.196		06/17/27		1,628,177
	1,200,000	Wells Fargo & Co		4.300		07/22/27		1,372,144
	3,625,000	Wells Fargo & Co		3.584		05/22/28		4,055,985
	2,000,000	Wells Fargo & Co		2.393		06/02/28		2,085,761
	6,175,000	Wells Fargo & Co		4.150		01/24/29		7,255,687
	3,950,000	Wells Fargo & Co		2.879		10/30/30		4,213,113
	3,000,000	Wells Fargo & Co		2.572		02/11/31		3,136,643
	5,000,000	Wells Fargo & Co		4.478		04/04/31		6,060,183
	264,000	Wells Fargo & Co		5.375		02/07/35		360,933
	7,025,000	Wells Fargo & Co		3.068		04/30/41		7,288,768
	1,050,000	Wells Fargo & Co		5.375		11/02/43		1,384,846
	1,468,000	Wells Fargo & Co		5.606		01/15/44		1,988,365
	475,000	Wells Fargo & Co		4.650		11/04/44		576,308
	1,500,000	Wells Fargo & Co		3.900		05/01/45		1,750,190
	950,000	Wells Fargo & Co		4.900		11/17/45		1,202,918
	3,250,000	Wells Fargo & Co		4.400		06/14/46		3,864,026
	1,975,000	Wells Fargo & Co		4.750		12/07/46		2,463,554
	500,000	Wells Fargo & Co		5.013		04/04/51		679,193
		TOTAL DIVERSIFIED FINANCIALS						529,917,740
ENERGY - 2.2%
	925,000	Baker Hughes a GE Co LLC		2.773		12/15/22		967,127
	875,000	Baker Hughes a GE Co LLC		3.337		12/15/27		929,387
	1,000,000	Baker Hughes a GE Co LLC		3.138		11/07/29		1,042,732
	500,000	Baker Hughes a GE Co LLC		4.486		05/01/30		568,883
	800,000	Baker Hughes a GE Co LLC		5.125		09/15/40		946,679
	875,000	Baker Hughes a GE Co LLC		4.080		12/15/47		873,058
	200,000	Boardwalk Pipelines LP		3.375		02/01/23		205,339
	475,000	Boardwalk Pipelines LP		5.950		06/01/26		552,906
	450,000	Boardwalk Pipelines LP		4.450		07/15/27		484,392
	500,000	Boardwalk Pipelines LP		4.800		05/03/29		544,552
	1,000,000	Boardwalk Pipelines LP		3.400		02/15/31		979,459
	150,000	BP Capital Markets America, Inc		4.742		03/11/21		152,857
	1,525,000	BP Capital Markets America, Inc		3.245		05/06/22		1,591,960

30

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	175,000	BP Capital Markets America, Inc		2.520	%	09/19/22	$	180,996
	1,000,000	BP Capital Markets America, Inc		2.937		04/06/23		1,057,640
	550,000	BP Capital Markets America, Inc		2.750		05/10/23		579,792
	800,000	BP Capital Markets America, Inc		3.790		02/06/24		877,176
	2,025,000	BP Capital Markets America, Inc		3.224		04/14/24		2,183,594
	1,000,000	BP Capital Markets America, Inc		3.194		04/06/25		1,099,676
	700,000	BP Capital Markets America, Inc		3.796		09/21/25		791,323
	1,800,000	BP Capital Markets America, Inc		3.410		02/11/26		2,009,054
	150,000	BP Capital Markets America, Inc		3.119		05/04/26		165,673
	200,000	BP Capital Markets America, Inc		3.017		01/16/27		219,649
	500,000	BP Capital Markets America, Inc		3.588		04/14/27		560,492
	750,000	BP Capital Markets America, Inc		3.937		09/21/28		873,053
	1,300,000	BP Capital Markets America, Inc		4.234		11/06/28		1,540,556
	1,000,000	BP Capital Markets America, Inc		1.749		08/10/30		991,682
	2,000,000	BP Capital Markets America, Inc		3.000		02/24/50		1,902,083
	950,000	BP Capital Markets America, Inc		2.772		11/10/50		868,657
	550,000	BP Capital Markets plc		3.062		03/17/22		571,287
	1,225,000	BP Capital Markets plc		2.500		11/06/22		1,273,998
	700,000	BP Capital Markets plc		3.994		09/26/23		768,420
	925,000	BP Capital Markets plc		3.814		02/10/24		1,016,637
	675,000	BP Capital Markets plc		3.535		11/04/24		745,246
	675,000	BP Capital Markets plc		3.506		03/17/25		751,792
	925,000	BP Capital Markets plc		3.279		09/19/27		1,026,390
	300,000	BP Capital Markets plc		3.723		11/28/28		345,486
	575,000	Burlington Resources Finance Co		7.200		08/15/31		829,738
	200,000	Burlington Resources Finance Co		7.400		12/01/31		295,980
	600,000	Canadian Natural Resources Ltd		2.950		01/15/23		623,940
	600,000	Canadian Natural Resources Ltd		3.800		04/15/24		643,997
	700,000	Canadian Natural Resources Ltd		3.900		02/01/25		758,762
	750,000	Canadian Natural Resources Ltd		2.050		07/15/25		765,138
	1,125,000	Canadian Natural Resources Ltd		3.850		06/01/27		1,211,912
	750,000	Canadian Natural Resources Ltd		2.950		07/15/30		754,532
	1,625,000	Canadian Natural Resources Ltd		6.250		03/15/38		1,927,126
	800,000	Canadian Natural Resources Ltd		4.950		06/01/47		888,392
	400,000	Chevron Corp		2.411		03/03/22		410,352
	300,000	Chevron Corp		2.498		03/03/22		308,753
	1,050,000	Chevron Corp		2.355		12/05/22		1,089,954
	750,000	Chevron Corp		1.141		05/11/23		764,453
	500,000	Chevron Corp		2.566		05/16/23		527,522
	400,000	Chevron Corp		3.191		06/24/23		427,612
	425,000	Chevron Corp		2.895		03/03/24		456,249
	750,000	Chevron Corp		1.554		05/11/25		777,013
	400,000	Chevron Corp		3.326		11/17/25		449,770
	2,475,000	Chevron Corp		2.954		05/16/26		2,757,299
	225,000	Chevron Corp		1.995		05/11/27		237,856
	600,000	Chevron Corp		2.236		05/11/30		636,251
	375,000	Chevron Corp		2.978		05/11/40		404,082
	1,000,000	Chevron Corp		3.078		05/11/50		1,068,847
	500,000	Cimarex Energy Co		4.375		06/01/24		536,580
	525,000	Cimarex Energy Co		3.900		05/15/27		528,865
	300,000	Cimarex Energy Co		4.375		03/15/29		310,224
	775,000	Columbia Pipeline Group, Inc		4.500		06/01/25		893,756
	300,000	Columbia Pipeline Group, Inc		5.800		06/01/45		390,402
	825,000	Concho Resources, Inc		3.750		10/01/27		889,371

31

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	950,000	Concho Resources, Inc		4.300	%	08/15/28	$	1,050,186
	125,000	Concho Resources, Inc		2.400		02/15/31		119,444
	400,000	Concho Resources, Inc		4.875		10/01/47		441,093
	700,000	Concho Resources, Inc		4.850		08/15/48		774,289
	2,800,000	ConocoPhillips Co		4.950		03/15/26		3,343,104
	77,000	ConocoPhillips Co		4.150		11/15/34		85,542
	250,000	ConocoPhillips Co		5.900		05/15/38		343,298
	1,585,000	ConocoPhillips Co		6.500		02/01/39		2,315,055
	300,000	ConocoPhillips Co		4.300		11/15/44		359,346
	1,650,000	ConocoPhillips Co		5.950		03/15/46		2,415,353
	925,000	ConocoPhillips Holding Co		6.950		04/15/29		1,282,838
	885,000	Devon Energy Corp		5.600		07/15/41		890,903
	700,000	Devon Energy Corp		4.750		05/15/42		649,166
	1,100,000	Devon Energy Corp		5.000		06/15/45		1,042,259
	600,000	Diamondback Energy, Inc		2.875		12/01/24		607,394
	750,000	Diamondback Energy, Inc		4.750		05/31/25		808,896
	425,000	Diamondback Energy, Inc		3.250		12/01/26		425,529
	1,000,000	Diamondback Energy, Inc		3.500		12/01/29		964,150
	725,000	Ecopetrol S.A.		5.875		09/18/23		797,500
	1,000,000	Ecopetrol S.A.		4.125		01/16/25		1,048,760
	975,000	Ecopetrol S.A.		5.375		06/26/26		1,077,375
	1,550,000	Ecopetrol S.A.		6.875		04/29/30		1,856,125
	200,000	Ecopetrol S.A.		7.375		09/18/43		250,502
	1,725,000	Ecopetrol S.A.		5.875		05/28/45		1,880,250
	300,000	El Paso Corp		7.750		01/15/32		417,113
	300,000	Enable Midstream Partners LP		3.900		05/15/24		295,342
	200,000	Enable Midstream Partners LP		4.400		03/15/27		192,043
	1,250,000	Enable Midstream Partners LP		4.950		05/15/28		1,225,042
	500,000	Enable Midstream Partners LP		4.150		09/15/29		463,274
	100,000	Enable Midstream Partners LP		5.000		05/15/44		83,727
	1,200,000	Enbridge Energy Partners LP		5.875		10/15/25		1,436,643
	300,000	Enbridge Energy Partners LP		5.500		09/15/40		357,020
	200,000	Enbridge Energy Partners LP		7.375		10/15/45		292,323
	800,000	Enbridge, Inc		2.900		07/15/22		830,309
	300,000	Enbridge, Inc		4.000		10/01/23		324,749
	250,000	Enbridge, Inc		2.500		01/15/25		263,391
	100,000	Enbridge, Inc		4.250		12/01/26		114,670
	100,000	Enbridge, Inc		3.700		07/15/27		111,198
	500,000	Enbridge, Inc		3.125		11/15/29		531,262
	300,000	Enbridge, Inc		4.500		06/10/44		338,361
	925,000	Enbridge, Inc		5.500		12/01/46		1,214,432
	1,000,000	Enbridge, Inc		4.000		11/15/49		1,051,004
	500,000	Enbridge, Inc		6.250		03/01/78		507,500
	500,000	Energy Transfer Operating LP		4.650		06/01/21		507,835
	450,000	Energy Transfer Operating LP		5.200		02/01/22		465,949
	525,000	Energy Transfer Operating LP		3.600		02/01/23		539,572
	200,000	Energy Transfer Operating LP		4.200		09/15/23		210,745
	500,000	Energy Transfer Operating LP		4.900		02/01/24		533,024
	2,775,000	Energy Transfer Operating LP		4.500		04/15/24		2,938,939
	825,000	Energy Transfer Operating LP		4.050		03/15/25		866,881
	400,000	Energy Transfer Operating LP		2.900		05/15/25		402,081
	325,000	Energy Transfer Operating LP		4.750		01/15/26		346,306
	250,000	Energy Transfer Operating LP		4.200		04/15/27		258,470

32

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	350,000	Energy Transfer Operating LP		4.950	%	06/15/28	$	370,467
	2,600,000	Energy Transfer Operating LP		5.250		04/15/29		2,795,789
	625,000	Energy Transfer Operating LP		3.750		05/15/30		604,921
	400,000	Energy Transfer Operating LP		4.900		03/15/35		390,673
	500,000	Energy Transfer Operating LP		5.800		06/15/38		491,809
	140,000	Energy Transfer Operating LP		7.500		07/01/38		163,297
	650,000	Energy Transfer Operating LP		6.500		02/01/42		673,572
	200,000	Energy Transfer Operating LP		5.150		02/01/43		182,779
	200,000	Energy Transfer Operating LP		5.950		10/01/43		197,292
	550,000	Energy Transfer Operating LP		5.150		03/15/45		497,127
	625,000	Energy Transfer Operating LP		6.125		12/15/45		626,159
	500,000	Energy Transfer Operating LP		5.300		04/15/47		463,546
	1,025,000	Energy Transfer Operating LP		6.000		06/15/48		1,029,177
	2,750,000	Energy Transfer Operating LP		6.250		04/15/49		2,829,864
	2,175,000	Energy Transfer Operating LP		5.000		05/15/50		1,996,587
	900,000	Enterprise Products Operating LLC		2.800		02/15/21		908,093
	100,000	Enterprise Products Operating LLC		2.850		04/15/21		101,113
	300,000	Enterprise Products Operating LLC		3.500		02/01/22		311,637
	400,000	Enterprise Products Operating LLC		4.050		02/15/22		419,366
	250,000	Enterprise Products Operating LLC		3.350		03/15/23		264,561
	950,000	Enterprise Products Operating LLC		3.900		02/15/24		1,036,122
	225,000	Enterprise Products Operating LLC		3.750		02/15/25		249,593
	450,000	Enterprise Products Operating LLC		3.700		02/15/26		504,587
	3,065,000	Enterprise Products Operating LLC		3.950		02/15/27		3,509,959
	725,000	Enterprise Products Operating LLC		4.150		10/16/28		846,928
	450,000	Enterprise Products Operating LLC		3.125		07/31/29		490,117
	250,000	Enterprise Products Operating LLC		2.800		01/31/30		264,664
	480,000	Enterprise Products Operating LLC		6.125		10/15/39		612,884
	175,000	Enterprise Products Operating LLC		5.950		02/01/41		220,422
	525,000	Enterprise Products Operating LLC		4.850		08/15/42		593,910
	325,000	Enterprise Products Operating LLC		4.450		02/15/43		350,201
	1,775,000	Enterprise Products Operating LLC		4.850		03/15/44		2,015,648
	775,000	Enterprise Products Operating LLC		5.100		02/15/45		900,845
	500,000	Enterprise Products Operating LLC		4.900		05/15/46		562,722
	675,000	Enterprise Products Operating LLC		4.250		02/15/48		715,682
	2,475,000	Enterprise Products Operating LLC		4.800		02/01/49		2,848,367
	950,000	Enterprise Products Operating LLC		4.200		01/31/50		1,008,633
	775,000	Enterprise Products Operating LLC		3.700		01/31/51		763,300
	1,000,000	Enterprise Products Operating LLC		3.200		02/15/52		903,994
	200,000	Enterprise Products Operating LLC		4.950		10/15/54		233,363
	625,000	Enterprise Products Operating LLC		3.950		01/31/60		613,685
	200,000	Enterprise Products Operating LLC		4.875		08/16/77		174,202
	700,000	Enterprise Products Operating LLC		5.250		08/16/77		667,289
	400,000	Enterprise Products Operating LLC		5.375		02/15/78		356,000
	440,000	EOG Resources, Inc		4.100		02/01/21		445,517
	1,025,000	EOG Resources, Inc		2.625		03/15/23		1,067,719
	475,000	EOG Resources, Inc		4.150		01/15/26		543,861
	500,000	EOG Resources, Inc		4.375		04/15/30		588,772
	200,000	EOG Resources, Inc		3.900		04/01/35		223,886
	200,000	EOG Resources, Inc		5.100		01/15/36		230,595
	500,000	EOG Resources, Inc		4.950		04/15/50		613,055
	300,000	Equinor ASA		2.900		11/08/20		300,762
	500,000	Equinor ASA		2.750		11/10/21		511,440
	925,000	Equinor ASA		2.450		01/17/23		967,243

33

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	475,000	Equinor ASA		2.650	%	01/15/24	$	505,976
	450,000	Equinor ASA		3.700		03/01/24		496,960
	500,000	Equinor ASA		3.250		11/10/24		549,974
	500,000	Equinor ASA		2.875		04/06/25		543,424
	400,000	Equinor ASA		1.750		01/22/26		414,867
	500,000	Equinor ASA		3.000		04/06/27		550,613
	1,500,000	Equinor ASA		3.625		09/10/28		1,744,137
	300,000	Equinor ASA		3.125		04/06/30		336,543
	1,175,000	Equinor ASA		2.375		05/22/30		1,241,729
	300,000	Equinor ASA		3.625		04/06/40		343,071
	200,000	Equinor ASA		5.100		08/17/40		269,289
	400,000	Equinor ASA		4.250		11/23/41		479,427
	300,000	Equinor ASA		3.950		05/15/43		349,165
	1,300,000	Equinor ASA		4.800		11/08/43		1,672,353
	750,000	Equinor ASA		3.250		11/18/49		797,756
	1,300,000	Equinor ASA		3.700		04/06/50		1,487,776
	675,000	Exxon Mobil Corp		2.397		03/06/22		692,922
	350,000	Exxon Mobil Corp		1.902		08/16/22		360,367
	1,350,000	Exxon Mobil Corp		2.726		03/01/23		1,419,673
	750,000	Exxon Mobil Corp		1.571		04/15/23		771,377
	175,000	Exxon Mobil Corp		3.176		03/15/24		189,284
	1,000,000	Exxon Mobil Corp		2.019		08/16/24		1,051,593
	850,000	Exxon Mobil Corp		2.709		03/06/25		918,518
	1,500,000	Exxon Mobil Corp		2.992		03/19/25		1,642,751
	4,177,000	Exxon Mobil Corp		3.043		03/01/26		4,608,713
	1,000,000	Exxon Mobil Corp		2.275		08/16/26		1,072,860
	750,000	Exxon Mobil Corp		3.294		03/19/27		845,720
	1,000,000	Exxon Mobil Corp		2.440		08/16/29		1,073,135
	750,000	Exxon Mobil Corp		3.482		03/19/30		865,195
	750,000	Exxon Mobil Corp		2.610		10/15/30		808,966
	1,000,000	Exxon Mobil Corp		2.995		08/16/39		1,055,987
	1,750,000	Exxon Mobil Corp		4.227		03/19/40		2,140,447
	500,000	Exxon Mobil Corp		3.567		03/06/45		549,230
	1,225,000	Exxon Mobil Corp		4.114		03/01/46		1,451,576
	1,400,000	Exxon Mobil Corp		3.095		08/16/49		1,428,192
	2,100,000	Exxon Mobil Corp		4.327		03/19/50		2,610,023
	1,500,000	Exxon Mobil Corp		3.452		04/15/51		1,643,813
	200,000	Gulf South Pipeline Co LP		4.000		06/15/22		205,339
	7,000	Halliburton Co		3.500		08/01/23		7,416
	187,000	Halliburton Co		3.800		11/15/25		202,562
	1,000,000	Halliburton Co		2.920		03/01/30		981,085
	500,000	Halliburton Co		4.850		11/15/35		528,392
	125,000	Halliburton Co		6.700		09/15/38		150,031
	125,000	Halliburton Co		7.450		09/15/39		160,673
	750,000	Halliburton Co		4.750		08/01/43		737,147
	2,825,000	Halliburton Co		5.000		11/15/45		2,891,868
	200,000	Helmerich & Payne, Inc		4.650		03/15/25		220,182
	200,000	Hess Corp		3.500		07/15/24		204,568
	2,100,000	Hess Corp		4.300		04/01/27		2,190,828
	200,000	Hess Corp		6.000		01/15/40		221,136
	1,190,000	Hess Corp		5.600		02/15/41		1,285,577
	900,000	Hess Corp		5.800		04/01/47		984,872
	500,000	HollyFrontier Corp		2.625		10/01/23		501,307

34

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	200,000	HollyFrontier Corp		5.875	%	04/01/26	$	219,081
	500,000	HollyFrontier Corp		4.500		10/01/30		484,053
	500,000	Husky Energy, Inc		4.000		04/15/24		530,550
	825,000	Husky Energy, Inc		4.400		04/15/29		860,161
	130,000	Husky Energy, Inc		6.800		09/15/37		160,985
	525,000	Kinder Morgan Energy Partners LP		3.950		09/01/22		553,251
	300,000	Kinder Morgan Energy Partners LP		4.150		02/01/24		328,177
	500,000	Kinder Morgan Energy Partners LP		4.250		09/01/24		552,776
	300,000	Kinder Morgan Energy Partners LP		6.950		01/15/38		392,047
	535,000	Kinder Morgan Energy Partners LP		6.500		09/01/39		673,096
	400,000	Kinder Morgan Energy Partners LP		4.700		11/01/42		432,052
	500,000	Kinder Morgan Energy Partners LP		5.000		03/01/43		556,829
	400,000	Kinder Morgan Energy Partners LP		5.500		03/01/44		468,348
	200,000	Kinder Morgan Energy Partners LP		5.400		09/01/44		231,724
	2,525,000	Kinder Morgan, Inc		4.300		06/01/25		2,840,963
	2,825,000	Kinder Morgan, Inc		4.300		03/01/28		3,211,705
	450,000	Kinder Morgan, Inc		2.000		02/15/31		432,179
	3,300,000	Kinder Morgan, Inc		5.300		12/01/34		3,887,288
	1,600,000	Kinder Morgan, Inc		5.550		06/01/45		1,901,898
	2,325,000	Kinder Morgan, Inc		5.200		03/01/48		2,719,064
	500,000	Kinder Morgan, Inc		3.250		08/01/50		451,542
	900,000	Magellan Midstream Partners LP		5.000		03/01/26		1,048,973
	475,000	Magellan Midstream Partners LP		3.250		06/01/30		509,431
	225,000	Magellan Midstream Partners LP		4.250		09/15/46		236,430
	425,000	Magellan Midstream Partners LP		4.200		10/03/47		441,703
	525,000	Magellan Midstream Partners LP		4.850		02/01/49		608,584
	500,000	Magellan Midstream Partners LP		3.950		03/01/50		511,399
	1,150,000	Marathon Oil Corp		2.800		11/01/22		1,177,934
	300,000	Marathon Oil Corp		3.850		06/01/25		307,907
	1,475,000	Marathon Oil Corp		4.400		07/15/27		1,466,600
	505,000	Marathon Oil Corp		6.600		10/01/37		519,296
	600,000	Marathon Oil Corp		5.200		06/01/45		561,995
	250,000	Marathon Petroleum Corp		3.400		12/15/20		250,778
	250,000	Marathon Petroleum Corp		5.125		03/01/21		254,343
	500,000	Marathon Petroleum Corp		4.500		05/01/23		539,885
	2,175,000	Marathon Petroleum Corp		3.625		09/15/24		2,329,216
	500,000	Marathon Petroleum Corp		4.700		05/01/25		564,372
	200,000	Marathon Petroleum Corp		3.800		04/01/28		217,141
	800,000	Marathon Petroleum Corp		6.500		03/01/41		974,737
	450,000	Marathon Petroleum Corp		4.750		09/15/44		468,842
	250,000	Marathon Petroleum Corp		5.850		12/15/45		283,573
	600,000	Marathon Petroleum Corp		4.500		04/01/48		606,861
	200,000	Marathon Petroleum Corp		5.000		09/15/54		205,321
	200,000	MPLX LP		3.500		12/01/22		209,598
	175,000	MPLX LP		3.375		03/15/23		184,386
	1,000,000	MPLX LP		4.875		12/01/24		1,116,997
	2,500,000	MPLX LP		4.875		06/01/25		2,833,741
	800,000	MPLX LP		1.750		03/01/26		798,182
	100,000	MPLX LP		4.125		03/01/27		110,409
	150,000	MPLX LP		4.250		12/01/27		168,547
	475,000	MPLX LP		4.000		03/15/28		518,297
	1,200,000	MPLX LP		4.800		02/15/29		1,377,575
	1,125,000	MPLX LP		2.650		08/15/30		1,102,324
	975,000	MPLX LP		4.500		04/15/38		996,641

35

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	375,000	MPLX LP		5.200	%	03/01/47	$	402,165
	700,000	MPLX LP		5.200		12/01/47		765,565
	825,000	MPLX LP		4.700		04/15/48		834,327
	850,000	MPLX LP		5.500		02/15/49		949,715
	1,100,000	MPLX LP		4.900		04/15/58		1,113,820
	500,000	National Oilwell Varco, Inc		3.600		12/01/29		484,929
	800,000	National Oilwell Varco, Inc		3.950		12/01/42		703,483
	935,000	Nexen, Inc		6.400		05/15/37		1,378,957
	750,000	Noble Energy, Inc		3.900		11/15/24		820,481
	1,000,000	Noble Energy, Inc		3.250		10/15/29		1,105,024
	875,000	Noble Energy, Inc		6.000		03/01/41		1,211,870
	450,000	Noble Energy, Inc		5.250		11/15/43		595,498
	175,000	Noble Energy, Inc		5.050		11/15/44		226,658
	200,000	Noble Energy, Inc		4.950		08/15/47		261,698
	1,000,000	Noble Energy, Inc		4.200		10/15/49		1,191,410
	175,000	ONEOK, Inc		2.750		09/01/24		179,213
	100,000	ONEOK, Inc		5.850		01/15/26		114,985
	1,300,000	ONEOK, Inc		4.000		07/13/27		1,352,828
	725,000	ONEOK, Inc		4.550		07/15/28		768,008
	325,000	ONEOK, Inc		4.350		03/15/29		339,107
	500,000	ONEOK, Inc		3.400		09/01/29		490,454
	500,000	ONEOK, Inc		3.100		03/15/30		481,048
	175,000	ONEOK, Inc		6.350		01/15/31		203,577
	675,000	ONEOK, Inc		4.950		07/13/47		640,748
	1,350,000	ONEOK, Inc		5.200		07/15/48		1,299,103
	1,000,000	ONEOK, Inc		4.450		09/01/49		879,731
	500,000	ONEOK, Inc		4.500		03/15/50		441,695
	300,000	ONEOK, Inc		7.150		01/15/51		355,864
	75,000	Petroleos Mexicanos		1.700		12/20/22		76,062
	75,000	Petroleos Mexicanos		2.000		12/20/22		76,362
	925,000	Phillips 66		4.300		04/01/22		975,533
	500,000	Phillips 66		3.700		04/06/23		535,196
	1,000,000	Phillips 66		3.850		04/09/25		1,110,692
	1,000,000	Phillips 66		3.900		03/15/28		1,128,693
	738,000	Phillips 66		4.650		11/15/34		880,649
	125,000	Phillips 66		5.875		05/01/42		164,394
	2,375,000	Phillips 66		4.875		11/15/44		2,817,835
	500,000	Phillips 66 Partners LP		2.450		12/15/24		514,323
	100,000	Phillips 66 Partners LP		3.550		10/01/26		105,477
	675,000	Phillips 66 Partners LP		3.750		03/01/28		703,397
	500,000	Phillips 66 Partners LP		3.150		12/15/29		493,109
	425,000	Phillips 66 Partners LP		4.680		02/15/45		432,441
	350,000	Phillips 66 Partners LP		4.900		10/01/46		362,962
	200,000	Pioneer Natural Resources Co		4.450		01/15/26		231,259
	1,500,000	Pioneer Natural Resources Co		1.900		08/15/30		1,407,320
	700,000	Plains All American Pipeline LP		5.000		02/01/21		702,558
	200,000	Plains All American Pipeline LP		2.850		01/31/23		203,571
	400,000	Plains All American Pipeline LP		3.850		10/15/23		418,615
	575,000	Plains All American Pipeline LP		3.600		11/01/24		593,100
	1,025,000	Plains All American Pipeline LP		4.650		10/15/25		1,101,089
	2,075,000	Plains All American Pipeline LP		4.500		12/15/26		2,213,602
	1,450,000	Plains All American Pipeline LP		3.550		12/15/29		1,401,961
	1,000,000	Plains All American Pipeline LP		3.800		09/15/30		968,829

36

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	100,000		Plains All American Pipeline LP		6.650	%	01/15/37	$	108,701
	250,000		Plains All American Pipeline LP		5.150		06/01/42		235,571
	300,000		Plains All American Pipeline LP		4.700		06/15/44		267,964
	300,000		Plains All American Pipeline LP		4.900		02/15/45		273,318
	375,000		Regency Energy Partners LP		5.875		03/01/22		391,397
	175,000		Sabine Pass Liquefaction LLC		6.250		03/15/22		185,703
	675,000		Sabine Pass Liquefaction LLC		5.625		04/15/23		739,332
	690,000		Sabine Pass Liquefaction LLC		5.750		05/15/24		781,104
	1,775,000		Sabine Pass Liquefaction LLC		5.625		03/01/25		2,029,254
	275,000		Sabine Pass Liquefaction LLC		5.875		06/30/26		325,115
	2,675,000		Sabine Pass Liquefaction LLC		5.000		03/15/27		3,009,695
	550,000		Sabine Pass Liquefaction LLC		4.200		03/15/28		596,687
	1,500,000	g	Sabine Pass Liquefaction LLC		4.500		05/15/30		1,688,218
	1,000,000		Schlumberger Investment S.A.		3.650		12/01/23		1,076,832
	1,500,000		Schlumberger Investment S.A.		2.650		06/26/30		1,517,958
	950,000		Shell International Finance BV		1.750		09/12/21		963,303
	575,000		Shell International Finance BV		2.375		08/21/22		596,768
	500,000		Shell International Finance BV		2.250		01/06/23		520,239
	350,000		Shell International Finance BV		3.400		08/12/23		378,763
	1,000,000		Shell International Finance BV		0.375		09/15/23		996,098
	500,000		Shell International Finance BV		2.375		04/06/25		533,253
	5,075,000		Shell International Finance BV		3.250		05/11/25		5,613,083
	2,075,000		Shell International Finance BV		2.875		05/10/26		2,296,734
	925,000		Shell International Finance BV		2.500		09/12/26		1,007,914
	1,225,000		Shell International Finance BV		3.875		11/13/28		1,430,737
	1,500,000		Shell International Finance BV		2.375		11/07/29		1,585,208
	1,500,000		Shell International Finance BV		2.750		04/06/30		1,639,126
	500,000		Shell International Finance BV		4.125		05/11/35		601,542
	350,000		Shell International Finance BV		6.375		12/15/38		519,899
	100,000		Shell International Finance BV		5.500		03/25/40		139,996
	1,200,000		Shell International Finance BV		4.550		08/12/43		1,492,115
	2,025,000		Shell International Finance BV		4.375		05/11/45		2,466,087
	650,000		Shell International Finance BV		4.000		05/10/46		756,289
	3,180,000		Shell International Finance BV		3.750		09/12/46		3,553,787
	1,500,000		Shell International Finance BV		3.125		11/07/49		1,544,517
	1,500,000		Shell International Finance BV		3.250		04/06/50		1,572,894
	200,000		Spectra Energy Partners LP		4.750		03/15/24		222,697
	400,000		Spectra Energy Partners LP		3.500		03/15/25		436,838
	1,100,000		Spectra Energy Partners LP		3.375		10/15/26		1,209,501
	200,000		Spectra Energy Partners LP		5.950		09/25/43		249,155
	600,000		Spectra Energy Partners LP		4.500		03/15/45		680,689
	500,000		Suncor Energy, Inc		2.800		05/15/23		524,140
	1,775,000		Suncor Energy, Inc		3.600		12/01/24		1,932,515
	500,000		Suncor Energy, Inc		3.100		05/15/25		537,021
	250,000		Suncor Energy, Inc		6.800		05/15/38		326,580
	1,625,000		Suncor Energy, Inc		6.500		06/15/38		2,077,449
	1,550,000		Suncor Energy, Inc		4.000		11/15/47		1,591,018
	200,000		Sunoco Logistics Partners Operations LP		4.400		04/01/21		202,934
	1,181,000		Sunoco Logistics Partners Operations LP		3.450		01/15/23		1,202,340
	300,000		Sunoco Logistics Partners Operations LP		4.250		04/01/24		314,746
	200,000		Sunoco Logistics Partners Operations LP		5.950		12/01/25		228,232
	400,000		Sunoco Logistics Partners Operations LP		3.900		07/15/26		411,369
	100,000		Sunoco Logistics Partners Operations LP		6.100		02/15/42		99,886
	300,000		Sunoco Logistics Partners Operations LP		5.300		04/01/44		278,072

37

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	200,000		Sunoco Logistics Partners Operations LP		5.350	%	05/15/45	$	185,630
	1,225,000		Sunoco Logistics Partners Operations LP		5.400		10/01/47		1,154,656
	100,000		TechnipFMC plc		3.450		10/01/22		103,464
	300,000		Total Capital Canada Ltd		2.750		07/15/23		318,776
	1,150,000		Total Capital International S.A.		2.875		02/17/22		1,188,756
	1,675,000		Total Capital International S.A.		2.700		01/25/23		1,758,124
	750,000		Total Capital International S.A.		3.700		01/15/24		822,350
	450,000		Total Capital International S.A.		3.750		04/10/24		497,051
	500,000		Total Capital International S.A.		2.434		01/10/25		532,340
	900,000		Total Capital International S.A.		3.455		02/19/29		1,033,930
	1,300,000		Total Capital International S.A.		2.829		01/10/30		1,436,462
	775,000		Total Capital International S.A.		2.986		06/29/41		807,344
	500,000		Total Capital International S.A.		3.461		07/12/49		544,866
	1,500,000		Total Capital International S.A.		3.127		05/29/50		1,549,300
	1,000,000		Total Capital International S.A.		3.386		06/29/60		1,046,023
	100,000		Total Capital S.A.		4.125		01/28/21		101,229
	1,125,000		Total Capital S.A.		3.883		10/11/28		1,328,256
	600,000		TransCanada PipeLines Ltd		3.800		10/01/20		600,000
	325,000		TransCanada PipeLines Ltd		2.500		08/01/22		335,151
	1,225,000		TransCanada PipeLines Ltd		4.875		01/15/26		1,441,070
	1,000,000		TransCanada PipeLines Ltd		4.100		04/15/30		1,152,527
	1,925,000		TransCanada PipeLines Ltd		4.625		03/01/34		2,271,408
	100,000		TransCanada PipeLines Ltd		6.200		10/15/37		135,082
	500,000		TransCanada PipeLines Ltd		4.750		05/15/38		589,089
	200,000		TransCanada PipeLines Ltd		7.625		01/15/39		303,975
	125,000		TransCanada PipeLines Ltd		6.100		06/01/40		165,692
	1,200,000		TransCanada PipeLines Ltd		5.000		10/16/43		1,423,333
	750,000		TransCanada PipeLines Ltd		4.875		05/15/48		927,997
	1,425,000		TransCanada PipeLines Ltd		5.100		03/15/49		1,817,527
	700,000		Transcontinental Gas Pipe Line Co LLC		7.850		02/01/26		906,522
	1,200,000		Transcontinental Gas Pipe Line Co LLC		4.000		03/15/28		1,337,191
	500,000	g	Transcontinental Gas Pipe Line Co LLC		3.250		05/15/30		540,075
	850,000		Transcontinental Gas Pipe Line Co LLC		4.600		03/15/48		966,894
	500,000	g	Transcontinental Gas Pipe Line Co LLC		3.950		05/15/50		515,856
	5,525,000		Vale Overseas Ltd		6.250		08/10/26		6,533,312
	1,000,000		Vale Overseas Ltd		3.750		07/08/30		1,029,000
	150,000		Vale Overseas Ltd		8.250		01/17/34		211,425
	1,164,000		Vale Overseas Ltd		6.875		11/21/36		1,511,745
	500,000		Valero Energy Corp		2.700		04/15/23		518,771
	750,000		Valero Energy Corp		1.200		03/15/24		746,817
	825,000		Valero Energy Corp		3.650		03/15/25		892,716
	1,250,000		Valero Energy Corp		2.850		04/15/25		1,309,348
	675,000		Valero Energy Corp		3.400		09/15/26		725,170
	750,000		Valero Energy Corp		2.150		09/15/27		744,958
	500,000		Valero Energy Corp		4.350		06/01/28		561,446
	2,075,000		Valero Energy Corp		4.000		04/01/29		2,277,182
	455,000		Valero Energy Corp		7.500		04/15/32		616,930
	850,000		Valero Energy Corp		6.625		06/15/37		1,067,727
	300,000		Valero Energy Corp		4.900		03/15/45		333,314
	200,000		Valero Energy Partners LP		4.375		12/15/26		224,195
	300,000		Valero Energy Partners LP		4.500		03/15/28		335,853
	600,000		Williams Partners LP		4.000		11/15/21		617,879
	1,000,000		Williams Partners LP		3.600		03/15/22		1,034,544

38

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	2,375,000	Williams Partners LP		3.350	%	08/15/22	$	2,466,149
	300,000	Williams Partners LP		4.500		11/15/23		328,469
	150,000	Williams Partners LP		3.900		01/15/25		163,997
	925,000	Williams Partners LP		4.000		09/15/25		1,023,709
	1,300,000	Williams Partners LP		3.750		06/15/27		1,425,884
	300,000	Williams Partners LP		6.300		04/15/40		370,379
	300,000	Williams Partners LP		5.800		11/15/43		352,618
	300,000	Williams Partners LP		5.400		03/04/44		336,273
	1,000,000	Williams Partners LP		4.900		01/15/45		1,067,471
	225,000	Williams Partners LP		5.100		09/15/45		252,316
	1,700,000	Williams Partners LP		4.850		03/01/48		1,908,173
		TOTAL ENERGY						389,849,030
FOOD & STAPLES RETAILING - 0.3%
	1,300,000	Costco Wholesale Corp		2.300		05/18/22		1,341,183
	400,000	Costco Wholesale Corp		2.750		05/18/24		432,531
	625,000	Costco Wholesale Corp		3.000		05/18/27		700,308
	475,000	Costco Wholesale Corp		1.375		06/20/27		486,269
	725,000	Costco Wholesale Corp		1.600		04/20/30		738,530
	1,800,000	Costco Wholesale Corp		1.750		04/20/32		1,845,193
	69,000	Delhaize Group S.A.		5.700		10/01/40		97,547
	200,000	Kroger Co		2.950		11/01/21		205,129
	200,000	Kroger Co		3.400		04/15/22		207,437
	2,525,000	Kroger Co		2.800		08/01/22		2,623,272
	200,000	Kroger Co		3.850		08/01/23		216,926
	300,000	Kroger Co		4.000		02/01/24		330,538
	100,000	Kroger Co		3.500		02/01/26		112,645
	1,275,000	Kroger Co		2.650		10/15/26		1,392,828
	175,000	Kroger Co		3.700		08/01/27		200,529
	1,150,000	Kroger Co		4.500		01/15/29		1,412,591
	250,000	Kroger Co		2.200		05/01/30		262,340
	100,000	Kroger Co		6.900		04/15/38		146,562
	250,000	Kroger Co		5.000		04/15/42		319,609
	300,000	Kroger Co		5.150		08/01/43		385,008
	300,000	Kroger Co		3.875		10/15/46		339,334
	900,000	Kroger Co		4.450		02/01/47		1,106,109
	700,000	Kroger Co		4.650		01/15/48		886,862
	300,000	Kroger Co		5.400		01/15/49		413,223
	500,000	Kroger Co		3.950		01/15/50		582,298
	125,000	SYSCO Corp		2.500		07/15/21		126,748
	250,000	SYSCO Corp		3.550		03/15/25		272,754
	500,000	SYSCO Corp		5.650		04/01/25		591,190
	125,000	SYSCO Corp		3.750		10/01/25		137,480
	350,000	SYSCO Corp		3.300		07/15/26		382,511
	1,000,000	SYSCO Corp		2.400		02/15/30		1,008,024
	500,000	SYSCO Corp		5.950		04/01/30		630,974
	500,000	SYSCO Corp		6.600		04/01/40		673,450
	300,000	SYSCO Corp		4.850		10/01/45		338,572
	500,000	SYSCO Corp		4.500		04/01/46		547,569
	250,000	SYSCO Corp		4.450		03/15/48		275,132
	550,000	SYSCO Corp		3.300		02/15/50		524,189
	1,000,000	SYSCO Corp		6.600		04/01/50		1,395,503
	275,000	Walgreen Co		3.100		09/15/22		287,882
	200,000	Walgreen Co		4.400		09/15/42		210,490

39

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	800,000	Walgreens Boots Alliance, Inc		3.300	%	11/18/21	$	820,394
	375,000	Walgreens Boots Alliance, Inc		3.800		11/18/24		412,908
	1,775,000	Walgreens Boots Alliance, Inc		3.450		06/01/26		1,939,015
	750,000	Walgreens Boots Alliance, Inc		3.200		04/15/30		785,557
	1,400,000	Walgreens Boots Alliance, Inc		4.500		11/18/34		1,596,111
	400,000	Walgreens Boots Alliance, Inc		4.800		11/18/44		436,923
	525,000	Walgreens Boots Alliance, Inc		4.650		06/01/46		558,208
	750,000	Walgreens Boots Alliance, Inc		4.100		04/15/50		755,757
	675,000	Walmart, Inc		2.350		12/15/22		704,098
	1,475,000	Walmart, Inc		2.550		04/11/23		1,548,691
	1,100,000	Walmart, Inc		3.400		06/26/23		1,186,901
	1,250,000	Walmart, Inc		3.300		04/22/24		1,362,028
	1,725,000	Walmart, Inc		2.650		12/15/24		1,865,761
	1,000,000	Walmart, Inc		3.050		07/08/26		1,125,655
	4,100,000	Walmart, Inc		3.700		06/26/28		4,845,456
	175,000	Walmart, Inc		2.375		09/24/29		193,162
	375,000	Walmart, Inc		5.250		09/01/35		543,029
	725,000	Walmart, Inc		3.950		06/28/38		907,232
	4,725,000	Walmart, Inc		3.625		12/15/47		5,802,899
	1,850,000	Walmart, Inc		4.050		06/29/48		2,408,075
	1,900,000	Walmart, Inc		2.950		09/24/49		2,134,396
		TOTAL FOOD & STAPLES RETAILING						56,119,525
FOOD, BEVERAGE & TOBACCO - 1.3%
	1,800,000	Altria Group, Inc		4.750		05/05/21		1,845,238
	475,000	Altria Group, Inc		3.490		02/14/22		493,602
	1,075,000	Altria Group, Inc		2.850		08/09/22		1,118,541
	200,000	Altria Group, Inc		2.950		05/02/23		211,122
	250,000	Altria Group, Inc		4.000		01/31/24		274,935
	700,000	Altria Group, Inc		3.800		02/14/24		765,007
	300,000	Altria Group, Inc		2.350		05/06/25		316,258
	400,000	Altria Group, Inc		4.400		02/14/26		460,517
	700,000	Altria Group, Inc		2.625		09/16/26		750,647
	800,000	Altria Group, Inc		3.400		05/06/30		870,651
	800,000	Altria Group, Inc		5.800		02/14/39		1,020,695
	925,000	Altria Group, Inc		4.250		08/09/42		986,298
	300,000	Altria Group, Inc		4.500		05/02/43		325,735
	775,000	Altria Group, Inc		5.375		01/31/44		956,077
	900,000	Altria Group, Inc		3.875		09/16/46		921,782
	1,875,000	Altria Group, Inc		5.950		02/14/49		2,513,669
	1,000,000	Altria Group, Inc		4.450		05/06/50		1,110,383
	1,700,000	Altria Group, Inc		6.200		02/14/59		2,319,279
	1,125,000	Anheuser-Busch InBev Finance, Inc		4.625		02/01/44		1,327,115
	625,000	Anheuser-Busch InBev Worldwide, Inc		4.900		01/23/31		784,003
	1,700,000	Anheuser-Busch InBev Worldwide, Inc		4.375		04/15/38		1,977,498
	100,000	Anheuser-Busch InBev Worldwide, Inc		8.200		01/15/39		162,556
	2,675,000	Anheuser-Busch InBev Worldwide, Inc		5.450		01/23/39		3,457,758
	500,000	Anheuser-Busch InBev Worldwide, Inc		4.350		06/01/40		583,403
	150,000	Anheuser-Busch InBev Worldwide, Inc		4.950		01/15/42		184,500
	425,000	Anheuser-Busch InBev Worldwide, Inc		4.600		04/15/48		505,727
	1,764,000	Anheuser-Busch InBev Worldwide, Inc		4.439		10/06/48		2,055,233
	2,025,000	Anheuser-Busch InBev Worldwide, Inc		5.550		01/23/49		2,748,071
	941,000	Anheuser-Busch InBev Worldwide, Inc		4.500		06/01/50		1,127,987

40

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	1,725,000	Anheuser-Busch InBev Worldwide, Inc		4.750	%	04/15/58	$	2,097,981
	2,150,000	Anheuser-Busch InBev Worldwide, Inc		5.800		01/23/59		3,065,984
	500,000	Anheuser-Busch InBev Worldwide, Inc		4.600		06/01/60		604,653
	3,075,000	Archer-Daniels-Midland Co		2.500		08/11/26		3,341,951
	800,000	Archer-Daniels-Midland Co		4.500		03/15/49		1,132,204
	1,225,000	BAT Capital Corp		2.764		08/15/22		1,269,459
	1,450,000	BAT Capital Corp		3.222		08/15/24		1,551,561
	500,000	BAT Capital Corp		2.789		09/06/24		527,918
	3,525,000	BAT Capital Corp		3.557		08/15/27		3,808,636
	400,000	BAT Capital Corp		2.259		03/25/28		400,975
	275,000	BAT Capital Corp		4.906		04/02/30		324,143
	650,000	BAT Capital Corp		2.726		03/25/31		643,776
	1,400,000	BAT Capital Corp		4.390		08/15/37		1,511,528
	475,000	BAT Capital Corp		3.734		09/25/40		471,319
	2,625,000	BAT Capital Corp		4.540		08/15/47		2,805,424
	900,000	BAT Capital Corp		4.758		09/06/49		975,449
	500,000	BAT Capital Corp		5.282		04/02/50		586,444
	1,000,000	BAT Capital Corp		3.984		09/25/50		976,914
	1,500,000	BAT International Finance plc		1.668		03/25/26		1,504,734
	200,000	Beam, Inc		3.250		05/15/22		209,112
	200,000	Brown-Forman Corp		3.500		04/15/25		222,634
	200,000	Brown-Forman Corp		4.000		04/15/38		239,235
	200,000	Brown-Forman Corp		4.500		07/15/45		261,386
	800,000	Bunge Ltd		3.500		11/24/20		803,502
	300,000	Bunge Ltd		3.000		09/25/22		311,835
	500,000	Bunge Ltd		4.350		03/15/24		550,366
	500,000	Bunge Ltd		1.630		08/17/25		502,078
	125,000	Bunge Ltd		3.250		08/15/26		134,594
	500,000	Bunge Ltd		3.750		09/25/27		542,555
	650,000	Campbell Soup Co		2.500		08/02/22		673,983
	215,000	Campbell Soup Co		3.650		03/15/23		230,162
	500,000	Campbell Soup Co		3.950		03/15/25		557,688
	725,000	Campbell Soup Co		4.150		03/15/28		843,166
	500,000	Campbell Soup Co		2.375		04/24/30		519,571
	800,000	Campbell Soup Co		4.800		03/15/48		1,025,595
	500,000	Campbell Soup Co		3.125		04/24/50		504,182
	300,000	Coca-Cola Bottling Co Consolidated		3.800		11/25/25		328,000
	650,000	Coca-Cola Co		2.500		04/01/23		686,317
	2,975,000	Coca-Cola Co		3.200		11/01/23		3,237,003
	800,000	Coca-Cola Co		1.750		09/06/24		838,266
	950,000	Coca-Cola Co		2.875		10/27/25		1,053,905
	300,000	Coca-Cola Co		2.550		06/01/26		328,189
	400,000	Coca-Cola Co		2.250		09/01/26		432,483
	1,000,000	Coca-Cola Co		1.450		06/01/27		1,030,886
	2,000,000	Coca-Cola Co		1.000		03/15/28		1,993,552
	600,000	Coca-Cola Co		2.125		09/06/29		641,438
	300,000	Coca-Cola Co		3.450		03/25/30		353,551
	800,000	Coca-Cola Co		1.650		06/01/30		827,667
	2,000,000	Coca-Cola Co		1.375		03/15/31		1,980,870
	725,000	Coca-Cola Co		2.500		06/01/40		760,452
	1,500,000	Coca-Cola Co		2.600		06/01/50		1,532,323
	475,000	Coca-Cola Co		2.500		03/15/51		471,522
	2,000,000	Coca-Cola Co		2.750		06/01/60		2,012,161
	1,500,000	Coca-Cola Femsa SAB de C.V.		2.750		01/22/30		1,614,390

41

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	200,000	Coca-Cola Femsa SAB de C.V.		5.250	%	11/26/43	$	271,184
	625,000	ConAgra Brands, Inc		3.800		10/22/21		646,259
	872,000	ConAgra Brands, Inc		3.200		01/25/23		918,310
	1,000,000	ConAgra Brands, Inc		4.300		05/01/24		1,115,556
	450,000	ConAgra Brands, Inc		4.600		11/01/25		522,300
	100,000	ConAgra Brands, Inc		7.000		10/01/28		133,829
	1,575,000	ConAgra Brands, Inc		4.850		11/01/28		1,922,444
	750,000	ConAgra Brands, Inc		5.300		11/01/38		961,421
	750,000	ConAgra Brands, Inc		5.400		11/01/48		1,011,846
	300,000	Constellation Brands, Inc		2.700		05/09/22		309,713
	300,000	Constellation Brands, Inc		2.650		11/07/22		310,699
	1,250,000	Constellation Brands, Inc		3.200		02/15/23		1,321,578
	2,275,000	Constellation Brands, Inc		4.250		05/01/23		2,481,114
	100,000	Constellation Brands, Inc		4.400		11/15/25		116,233
	750,000	Constellation Brands, Inc		3.700		12/06/26		857,564
	300,000	Constellation Brands, Inc		3.500		05/09/27		335,213
	700,000	Constellation Brands, Inc		3.600		02/15/28		791,089
	300,000	Constellation Brands, Inc		4.650		11/15/28		361,032
	1,000,000	Constellation Brands, Inc		3.150		08/01/29		1,091,482
	100,000	Constellation Brands, Inc		2.875		05/01/30		107,900
	300,000	Constellation Brands, Inc		4.100		02/15/48		345,741
	300,000	Constellation Brands, Inc		5.250		11/15/48		402,890
	500,000	Constellation Brands, Inc		3.750		05/01/50		557,082
	1,725,000	Diageo Capital plc		2.625		04/29/23		1,809,524
	750,000	Diageo Capital plc		2.125		10/24/24		794,365
	500,000	Diageo Capital plc		1.375		09/29/25		512,308
	425,000	Diageo Capital plc		3.875		05/18/28		498,557
	525,000	Diageo Capital plc		2.000		04/29/30		540,448
	1,900,000	Diageo Capital plc		2.125		04/29/32		1,969,509
	200,000	Diageo Capital plc		5.875		09/30/36		283,142
	400,000	Diageo Capital plc		3.875		04/29/43		479,134
	150,000	Flowers Foods, Inc		4.375		04/01/22		155,367
	100,000	Flowers Foods, Inc		3.500		10/01/26		108,920
	200,000	Fomento Economico Mexicano SAB de C.V.		2.875		05/10/23		207,931
	300,000	Fomento Economico Mexicano SAB de C.V.		4.375		05/10/43		364,233
	2,500,000	Fomento Economico Mexicano SAB de C.V.		3.500		01/16/50		2,653,153
	200,000	General Mills, Inc		3.150		12/15/21		205,281
	500,000	General Mills, Inc		2.600		10/12/22		520,245
	200,000	General Mills, Inc		3.700		10/17/23		218,036
	500,000	General Mills, Inc		3.650		02/15/24		545,063
	150,000	General Mills, Inc		4.000		04/17/25		170,281
	800,000	General Mills, Inc		3.200		02/10/27		898,033
	3,800,000	General Mills, Inc		4.200		04/17/28		4,483,879
	100,000	General Mills, Inc		2.875		04/15/30		109,651
	150,000	General Mills, Inc		5.400		06/15/40		205,100
	100,000	General Mills, Inc		4.150		02/15/43		122,665
	200,000	General Mills, Inc		4.700		04/17/48		272,447
	300,000	Hershey Co		2.050		11/15/24		317,565
	500,000	Hershey Co		0.900		06/01/25		502,487
	300,000	Hershey Co		2.450		11/15/29		325,258
	500,000	Hershey Co		1.700		06/01/30		513,914
	300,000	Hershey Co		3.375		08/15/46		341,363
	300,000	Hershey Co		3.125		11/15/49		330,906

42

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	100,000		Hershey Co		2.650	%	06/01/50	$	102,439
	1,500,000		Hormel Foods Corp		1.800		06/11/30		1,547,170
	300,000		Ingredion, Inc		3.200		10/01/26		331,381
	750,000		Ingredion, Inc		3.900		06/01/50		841,607
	275,000		JM Smucker Co		3.500		10/15/21		283,477
	300,000		JM Smucker Co		3.000		03/15/22		311,070
	1,475,000		JM Smucker Co		3.500		03/15/25		1,652,845
	200,000		JM Smucker Co		3.375		12/15/27		222,774
	150,000		JM Smucker Co		2.375		03/15/30		156,425
	300,000		JM Smucker Co		4.250		03/15/35		361,587
	300,000		JM Smucker Co		4.375		03/15/45		361,310
	400,000		JM Smucker Co		3.550		03/15/50		426,883
	417,000		Kellogg Co		2.650		12/01/23		441,947
	1,800,000		Kellogg Co		3.250		04/01/26		2,006,777
	200,000		Kellogg Co		3.400		11/15/27		225,393
	800,000		Kellogg Co		4.300		05/15/28		945,083
	275,000		Kellogg Co		2.100		06/01/30		281,508
	150,000		Kellogg Co		4.500		04/01/46		187,102
	1,025,000		Keurig Dr Pepper, Inc		3.551		05/25/21		1,045,530
	1,600,000		Keurig Dr Pepper, Inc		4.057		05/25/23		1,739,595
	500,000		Keurig Dr Pepper, Inc		3.130		12/15/23		537,648
	275,000		Keurig Dr Pepper, Inc		4.417		05/25/25		316,723
	200,000		Keurig Dr Pepper, Inc		3.400		11/15/25		222,690
	200,000		Keurig Dr Pepper, Inc		2.550		09/15/26		216,900
	2,750,000		Keurig Dr Pepper, Inc		4.597		05/25/28		3,300,654
	750,000		Keurig Dr Pepper, Inc		3.200		05/01/30		837,286
	500,000		Keurig Dr Pepper, Inc		4.420		12/15/46		614,581
	750,000		Keurig Dr Pepper, Inc		5.085		05/25/48		1,001,665
	300,000		Keurig Dr Pepper, Inc		3.800		05/01/50		344,348
	400,000		McCormick & Co, Inc		2.700		08/15/22		416,506
	250,000		McCormick & Co, Inc		3.150		08/15/24		271,783
	250,000		McCormick & Co, Inc		3.400		08/15/27		280,927
	500,000		McCormick & Co, Inc		2.500		04/15/30		533,949
	400,000		McCormick & Co, Inc		4.200		08/15/47		496,515
	925,000		Mead Johnson Nutrition Co		4.125		11/15/25		1,068,725
	350,000		Mead Johnson Nutrition Co		4.600		06/01/44		468,164
	800,000		Molson Coors Brewing Co		2.100		07/15/21		809,562
	900,000		Molson Coors Brewing Co		3.500		05/01/22		935,667
	1,025,000		Molson Coors Brewing Co		3.000		07/15/26		1,093,816
	525,000		Molson Coors Brewing Co		5.000		05/01/42		593,554
	1,550,000		Molson Coors Brewing Co		4.200		07/15/46		1,636,708
	1,000,000		Mondelez International, Inc		0.625		07/01/22		1,003,447
	150,000		Mondelez International, Inc		2.125		04/13/23		155,681
	500,000		Mondelez International, Inc		3.625		05/07/23		541,516
	1,000,000		Mondelez International, Inc		1.500		05/04/25		1,026,430
	300,000		Mondelez International, Inc		3.625		02/13/26		340,018
	500,000		Mondelez International, Inc		4.125		05/07/28		599,230
	775,000		Mondelez International, Inc		2.750		04/13/30		843,410
	400,000		Mondelez International, Inc		1.500		02/04/31		389,703
	725,000	h	Mondelez International, Inc		1.875		10/15/32		723,296
	100,000		Mondelez International, Inc		4.625		05/07/48		137,567
	700,000	h	Mondelez International, Inc		2.625		09/04/50		674,383
	1,375,000		PepsiCo, Inc		1.700		10/06/21		1,391,877
	400,000		PepsiCo, Inc		2.750		03/05/22		413,847

43

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	600,000	PepsiCo, Inc		3.100	%	07/17/22	$	627,696
	700,000	PepsiCo, Inc		2.750		03/01/23		740,256
	1,425,000	PepsiCo, Inc		3.600		03/01/24		1,562,235
	750,000	PepsiCo, Inc		2.250		03/19/25		802,967
	525,000	PepsiCo, Inc		2.750		04/30/25		572,331
	425,000	PepsiCo, Inc		3.500		07/17/25		478,892
	275,000	PepsiCo, Inc		2.850		02/24/26		304,787
	1,300,000	PepsiCo, Inc		2.375		10/06/26		1,415,074
	150,000	PepsiCo, Inc		2.625		03/19/27		164,712
	500,000	PepsiCo, Inc		2.750		03/19/30		559,304
	2,275,000	PepsiCo, Inc		1.625		05/01/30		2,335,233
	750,000	PepsiCo, Inc		3.500		03/19/40		886,557
	625,000	PepsiCo, Inc		4.000		03/05/42		783,536
	200,000	PepsiCo, Inc		3.600		08/13/42		236,202
	450,000	PepsiCo, Inc		4.600		07/17/45		610,658
	1,600,000	PepsiCo, Inc		4.450		04/14/46		2,125,193
	575,000	PepsiCo, Inc		3.450		10/06/46		665,193
	925,000	PepsiCo, Inc		4.000		05/02/47		1,165,402
	1,250,000	PepsiCo, Inc		3.375		07/29/49		1,437,113
	750,000	PepsiCo, Inc		2.875		10/15/49		804,233
	750,000	PepsiCo, Inc		3.625		03/19/50		909,413
	750,000	PepsiCo, Inc		3.875		03/19/60		944,286
	200,000	Philip Morris International, Inc		2.900		11/15/21		205,393
	300,000	Philip Morris International, Inc		2.625		02/18/22		308,545
	425,000	Philip Morris International, Inc		2.375		08/17/22		437,772
	375,000	Philip Morris International, Inc		2.500		08/22/22		389,713
	450,000	Philip Morris International, Inc		2.500		11/02/22		468,448
	500,000	Philip Morris International, Inc		2.625		03/06/23		524,871
	300,000	Philip Morris International, Inc		2.125		05/10/23		310,803
	300,000	Philip Morris International, Inc		3.600		11/15/23		326,748
	600,000	Philip Morris International, Inc		3.250		11/10/24		660,161
	500,000	Philip Morris International, Inc		1.500		05/01/25		515,919
	500,000	Philip Morris International, Inc		3.375		08/11/25		556,346
	700,000	Philip Morris International, Inc		2.750		02/25/26		768,177
	1,300,000	Philip Morris International, Inc		3.125		08/17/27		1,463,195
	1,500,000	Philip Morris International, Inc		3.125		03/02/28		1,658,226
	1,450,000	Philip Morris International, Inc		3.375		08/15/29		1,650,759
	450,000	Philip Morris International, Inc		2.100		05/01/30		462,555
	400,000	Philip Morris International, Inc		6.375		05/16/38		592,871
	225,000	Philip Morris International, Inc		4.375		11/15/41		273,877
	200,000	Philip Morris International, Inc		4.500		03/20/42		245,154
	275,000	Philip Morris International, Inc		3.875		08/21/42		311,025
	300,000	Philip Morris International, Inc		4.125		03/04/43		350,508
	200,000	Philip Morris International, Inc		4.875		11/15/43		255,817
	2,000,000	Philip Morris International, Inc		4.250		11/10/44		2,412,436
	2,500,000	Reynolds American, Inc		4.000		06/12/22		2,634,922
	200,000	Reynolds American, Inc		4.850		09/15/23		223,131
	550,000	Reynolds American, Inc		4.450		06/12/25		618,817
	750,000	Reynolds American, Inc		5.700		08/15/35		935,485
	65,000	Reynolds American, Inc		7.250		06/15/37		85,645
	200,000	Reynolds American, Inc		6.150		09/15/43		251,343
	1,775,000	Reynolds American, Inc		5.850		08/15/45		2,151,434
	1,600,000	Tyson Foods, Inc		4.500		06/15/22		1,694,251

44

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	100,000	Tyson Foods, Inc		3.900	%	09/28/23	$	109,313
	750,000	Tyson Foods, Inc		3.950		08/15/24		834,826
	500,000	Tyson Foods, Inc		4.000		03/01/26		572,625
	1,150,000	Tyson Foods, Inc		3.550		06/02/27		1,298,585
	500,000	Tyson Foods, Inc		4.350		03/01/29		605,608
	500,000	Tyson Foods, Inc		5.150		08/15/44		662,194
	300,000	Tyson Foods, Inc		4.550		06/02/47		377,183
	1,700,000	Tyson Foods, Inc		5.100		09/28/48		2,338,495
		TOTAL FOOD, BEVERAGE & TOBACCO						213,766,331
HEALTH CARE EQUIPMENT & SERVICES - 1.4%
	175,000	Abbott Laboratories		2.550		03/15/22		180,672
	200,000	Abbott Laboratories		3.400		11/30/23		217,291
	275,000	Abbott Laboratories		2.950		03/15/25		300,274
	1,708,000	Abbott Laboratories		3.750		11/30/26		1,981,428
	625,000	Abbott Laboratories		1.150		01/30/28		629,959
	200,000	Abbott Laboratories		1.400		06/30/30		200,789
	2,750,000	Abbott Laboratories		4.750		11/30/36		3,675,400
	3,450,000	Abbott Laboratories		4.900		11/30/46		4,853,648
	500,000	Adventist Health System		2.952		03/01/29		530,361
	500,000	Adventist Health System		3.630		03/01/49		515,496
	200,000	Advocate Health & Hospitals Corp		3.829		08/15/28		231,457
	750,000	Advocate Health & Hospitals Corp		2.211		06/15/30		780,178
	100,000	Advocate Health & Hospitals Corp		4.272		08/15/48		127,371
	600,000	Advocate Health & Hospitals Corp		3.387		10/15/49		668,024
	500,000	Advocate Health & Hospitals Corp		3.008		06/15/50		528,392
	200,000	Allina Health System		3.887		04/15/49		240,903
	400,000	AmerisourceBergen Corp		3.400		05/15/24		435,882
	700,000	AmerisourceBergen Corp		3.250		03/01/25		768,983
	200,000	AmerisourceBergen Corp		3.450		12/15/27		228,470
	1,000,000	AmerisourceBergen Corp		2.800		05/15/30		1,068,429
	700,000	AmerisourceBergen Corp		4.300		12/15/47		812,847
	150,000	Anthem, Inc		3.700		08/15/21		153,011
	1,000,000	Anthem, Inc		3.125		05/15/22		1,042,843
	500,000	Anthem, Inc		3.300		01/15/23		529,530
	225,000	Anthem, Inc		3.500		08/15/24		245,949
	1,625,000	Anthem, Inc		3.350		12/01/24		1,782,891
	1,500,000	Anthem, Inc		2.375		01/15/25		1,593,465
	850,000	Anthem, Inc		3.650		12/01/27		967,820
	1,225,000	Anthem, Inc		4.101		03/01/28		1,423,822
	500,000	Anthem, Inc		2.875		09/15/29		539,654
	1,500,000	Anthem, Inc		2.250		05/15/30		1,539,431
	1,150,000	Anthem, Inc		4.625		05/15/42		1,439,008
	125,000	Anthem, Inc		4.650		01/15/43		157,185
	500,000	Anthem, Inc		5.100		01/15/44		664,497
	425,000	Anthem, Inc		4.650		08/15/44		532,136
	625,000	Anthem, Inc		4.375		12/01/47		763,874
	1,800,000	Anthem, Inc		4.550		03/01/48		2,258,068
	500,000	Anthem, Inc		3.700		09/15/49		556,585
	1,150,000	Anthem, Inc		3.125		05/15/50		1,159,867
	500,000	Ascension Health		2.532		11/15/29		541,792
	500,000	Ascension Health		3.106		11/15/39		535,727
	875,000	Ascension Health		3.945		11/15/46		1,086,818
	200,000	Ascension Health		4.847		11/15/53		289,721

45

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	500,000	Banner Health		2.338	%	01/01/30	$	518,938
	500,000	Banner Health		3.181		01/01/50		543,146
	475,000	Baxter International, Inc		2.600		08/15/26		519,161
	300,000	Baxter International, Inc		3.500		08/15/46		341,571
	290,000	Baylor Scott & White Holdings		4.185		11/15/45		354,553
	200,000	Baylor Scott & White Holdings		3.967		11/15/46		236,841
	1,450,000	Becton Dickinson & Co		2.894		06/06/22		1,500,061
	1,400,000	Becton Dickinson & Co		3.363		06/06/24		1,514,520
	601,000	Becton Dickinson & Co		3.734		12/15/24		664,280
	1,277,000	Becton Dickinson & Co		3.700		06/06/27		1,447,227
	675,000	Becton Dickinson & Co		2.823		05/20/30		727,432
	391,000	Becton Dickinson & Co		4.685		12/15/44		482,507
	1,000,000	Becton Dickinson & Co		4.669		06/06/47		1,232,245
	1,000,000	Becton Dickinson & Co		3.794		05/20/50		1,115,916
	100,000	Bio-Rad Laboratories, Inc		4.875		12/15/20		100,937
	500,000	Bon Secours Mercy Health, Inc		3.464		06/01/30		561,315
	300,000	Boston Scientific Corp		3.375		05/15/22		313,635
	500,000	Boston Scientific Corp		3.450		03/01/24		541,624
	1,155,000	Boston Scientific Corp		3.850		05/15/25		1,309,941
	500,000	Boston Scientific Corp		3.750		03/01/26		569,659
	700,000	Boston Scientific Corp		4.000		03/01/28		805,402
	275,000	Boston Scientific Corp		4.000		03/01/29		319,733
	1,500,000	Boston Scientific Corp		2.650		06/01/30		1,595,603
	700,000	Boston Scientific Corp		4.550		03/01/39		875,171
	775,000	Boston Scientific Corp		4.700		03/01/49		1,021,532
	625,000	Cardinal Health, Inc		2.616		06/15/22		644,958
	100,000	Cardinal Health, Inc		3.200		06/15/22		104,079
	200,000	Cardinal Health, Inc		3.200		03/15/23		211,593
	650,000	Cardinal Health, Inc		3.079		06/15/24		698,791
	100,000	Cardinal Health, Inc		3.500		11/15/24		109,320
	200,000	Cardinal Health, Inc		3.750		09/15/25		223,746
	1,475,000	Cardinal Health, Inc		3.410		06/15/27		1,641,346
	100,000	Cardinal Health, Inc		4.600		03/15/43		109,447
	200,000	Cardinal Health, Inc		4.500		11/15/44		217,542
	200,000	Cardinal Health, Inc		4.900		09/15/45		230,950
	500,000	Cardinal Health, Inc		4.368		06/15/47		540,876
	200,000	CHRISTUS Health		4.341		07/01/28		232,634
	1,500,000	Cigna Corp		3.400		09/17/21		1,543,670
	525,000	Cigna Corp		3.900		02/15/22		549,235
	1,100,000	Cigna Corp		3.000		07/15/23		1,165,610
	1,147,000	Cigna Corp		3.750		07/15/23		1,242,887
	300,000	Cigna Corp		3.500		06/15/24		327,138
	900,000	Cigna Corp		3.250		04/15/25		989,183
	150,000	Cigna Corp		4.500		02/25/26		174,915
	1,475,000	Cigna Corp		3.400		03/01/27		1,653,145
	300,000	Cigna Corp		3.050		10/15/27		333,342
	3,275,000	Cigna Corp		4.375		10/15/28		3,889,563
	250,000	Cigna Corp		2.400		03/15/30		258,498
	1,700,000	Cigna Corp		4.800		08/15/38		2,106,987
	225,000	Cigna Corp		3.200		03/15/40		238,084
	93,000	Cigna Corp		6.125		11/15/41		130,791
	975,000	Cigna Corp		4.800		07/15/46		1,223,713
	1,150,000	Cigna Corp		3.875		10/15/47		1,267,706

46

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	2,450,000	Cigna Corp		4.900	%	12/15/48	$	3,187,340
	750,000	Cigna Corp		3.400		03/15/50		785,911
	600,000	City of Hope		4.378		08/15/48		728,398
	150,000	Covidien International Finance S.A.		3.200		06/15/22		156,014
	900,000	CVS Health Corp		3.500		07/20/22		943,924
	925,000	CVS Health Corp		2.750		12/01/22		964,562
	900,000	CVS Health Corp		3.375		08/12/24		979,059
	250,000	CVS Health Corp		2.625		08/15/24		266,430
	1,219,000	CVS Health Corp		4.100		03/25/25		1,377,284
	1,969,000	CVS Health Corp		3.875		07/20/25		2,219,878
	2,550,000	CVS Health Corp		2.875		06/01/26		2,760,468
	1,250,000	CVS Health Corp		3.000		08/15/26		1,365,408
	3,000,000	CVS Health Corp		1.300		08/21/27		2,953,210
	5,550,000	CVS Health Corp		4.300		03/25/28		6,492,501
	275,000	CVS Health Corp		3.250		08/15/29		304,251
	1,825,000	CVS Health Corp		1.750		08/21/30		1,786,619
	4,100,000	CVS Health Corp		4.780		03/25/38		4,961,790
	850,000	CVS Health Corp		2.700		08/21/40		813,022
	400,000	CVS Health Corp		5.300		12/05/43		510,622
	1,800,000	CVS Health Corp		5.125		07/20/45		2,265,881
	8,525,000	CVS Health Corp		5.050		03/25/48		10,841,311
	200,000	Danaher Corp		3.350		09/15/25		222,119
	200,000	Danaher Corp		4.375		09/15/45		256,018
	400,000	Danaher Corp		2.600		10/01/50		389,682
	100,000	Dartmouth-Hitchcock Health		4.178		08/01/48		119,387
	1,000,000	DENTSPLY SIRONA, Inc		3.250		06/01/30		1,086,453
	200,000	Dignity Health		5.267		11/01/64		237,238
	400,000	Duke University Health System, Inc		3.920		06/01/47		501,509
	400,000	Edwards Lifesciences Corp		4.300		06/15/28		477,966
	750,000	Hackensack Meridian Health, Inc		2.675		09/01/41		746,142
	200,000	Hackensack Meridian Health, Inc		4.211		07/01/48		246,197
	750,000	Hackensack Meridian Health, Inc		2.875		09/01/50		734,689
	200,000	Hackensack Meridian Health, Inc		4.500		07/01/57		255,741
	685,000	Hartford HealthCare Corp		3.447		07/01/54		669,901
	2,500,000	HCA, Inc		5.000		03/15/24		2,801,492
	2,000,000	HCA, Inc		4.500		02/15/27		2,245,425
	225,000	HCA, Inc		5.125		06/15/39		272,618
	875,000	HCA, Inc		5.500		06/15/47		1,091,003
	2,500,000	HCA, Inc		5.250		06/15/49		3,039,613
	100,000	Humana, Inc		3.150		12/01/22		104,999
	400,000	Humana, Inc		2.900		12/15/22		418,432
	300,000	Humana, Inc		3.850		10/01/24		331,527
	600,000	Humana, Inc		3.950		03/15/27		686,484
	175,000	Humana, Inc		3.125		08/15/29		193,501
	200,000	Humana, Inc		4.625		12/01/42		248,705
	300,000	Humana, Inc		4.950		10/01/44		396,410
	600,000	Humana, Inc		4.800		03/15/47		780,315
	500,000	Humana, Inc		3.950		08/15/49		591,497
	200,000	Indiana University Health, Inc Obligated Group		3.970		11/01/48		248,968
	350,000	Johns Hopkins Health System Corp		3.837		05/15/46		428,555
	100,000	Kaiser Foundation Hospitals		3.500		04/01/22		104,197
	500,000	Kaiser Foundation Hospitals		3.150		05/01/27		559,791
	100,000	Kaiser Foundation Hospitals		4.875		04/01/42		135,325
	1,265,000	Kaiser Foundation Hospitals		4.150		05/01/47		1,610,277

47

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	1,000,000	Kaiser Foundation Hospitals		3.266	%	11/01/49	$	1,114,390
	755,000	Koninklijke Philips NV		5.000		03/15/42		986,647
	1,500,000	Laboratory Corp of America Holdings		3.200		02/01/22		1,552,009
	200,000	Laboratory Corp of America Holdings		3.750		08/23/22		210,269
	700,000	Laboratory Corp of America Holdings		4.000		11/01/23		764,709
	200,000	Laboratory Corp of America Holdings		3.250		09/01/24		217,988
	500,000	Laboratory Corp of America Holdings		2.300		12/01/24		528,000
	100,000	Laboratory Corp of America Holdings		3.600		02/01/25		110,976
	300,000	Laboratory Corp of America Holdings		3.600		09/01/27		342,167
	500,000	Laboratory Corp of America Holdings		2.950		12/01/29		549,664
	800,000	Laboratory Corp of America Holdings		4.700		02/01/45		1,016,300
	200,000	Mayo Clinic		4.000		11/15/47		248,998
	200,000	Mayo Clinic		4.128		11/15/52		261,195
	300,000	McKesson Corp		3.650		11/30/20		301,623
	600,000	McKesson Corp		2.700		12/15/22		624,057
	200,000	McKesson Corp		2.850		03/15/23		209,726
	1,925,000	McKesson Corp		3.796		03/15/24		2,107,867
	500,000	McKesson Corp		3.950		02/16/28		582,617
	300,000	McKesson Corp		4.750		05/30/29		364,397
	200,000	McLaren Health Care Corp		4.386		05/15/48		248,161
	433,000	Medtronic, Inc		3.150		03/15/22		450,290
	2,059,000	Medtronic, Inc		3.500		03/15/25		2,319,261
	2,777,000	Medtronic, Inc		4.375		03/15/35		3,720,185
	1,074,000	Medtronic, Inc		4.625		03/15/45		1,475,432
	500,000	Memorial Health Services		3.447		11/01/49		522,852
	1,000,000	Memorial Sloan-Kettering Cancer Center		2.955		01/01/50		1,057,216
	200,000	Memorial Sloan-Kettering Cancer Center		4.125		07/01/52		257,122
	500,000	Memorial Sloan-Kettering Cancer Center		4.200		07/01/55		672,225
	200,000	Mercy Health		4.302		07/01/28		227,492
	1,000,000	Methodist Hospital		2.705		12/01/50		998,002
	500,000	Montefiore Obligated Group		5.246		11/01/48		575,949
	750,000	Montefiore Obligated Group		4.287		09/01/50		744,190
	100,000	Mount Sinai Hospitals Group, Inc		3.981		07/01/48		113,918
	600,000	Mount Sinai Hospitals Group, Inc		3.737		07/01/49		662,273
	895,000	Mount Sinai Hospitals Group, Inc		3.391		07/01/50		875,397
	1,000,000	MultiCare Health System		2.803		08/15/50		982,942
	1,000,000	New York and Presbyterian Hospital		2.256		08/01/40		951,667
	300,000	New York and Presbyterian Hospital		4.024		08/01/45		375,201
	150,000	New York and Presbyterian Hospital		4.063		08/01/56		192,635
	1,000,000	New York and Presbyterian Hospital		2.606		08/01/60		966,593
	500,000	New York and Presbyterian Hospital		3.954		08/01/19		537,797
	140,000	Northwell Healthcare, Inc		3.979		11/01/46		152,816
	675,000	Northwell Healthcare, Inc		4.260		11/01/47		773,266
	500,000	Northwell Healthcare, Inc		3.809		11/01/49		531,201
	1,000,000	NY Society for Relief of Ruptured & Crippled Maintaining Hosp Special Surgery		2.667		10/01/50		948,201
	350,000	NYU Hospitals Center		5.750		07/01/43		473,521
	250,000	NYU Hospitals Center		4.368		07/01/47		289,933
	915,000	NYU Langone Hospitals		3.380		07/01/55		922,675
	750,000	OhioHealth Corp		3.042		11/15/50		813,478
	100,000	Orlando Health Obligated Group		4.089		10/01/48		112,522
	1,000,000	Orlando Health Obligated Group		3.327		10/01/50		1,000,628
	200,000	PeaceHealth Obligated Group		4.787		11/15/48		259,341

48

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	200,000		Providence St. Joseph Health Obligated Group		2.746	%	10/01/26	$	219,663
	570,000		Providence St. Joseph Health Obligated Group		2.532		10/01/29		606,369
	100,000		Providence St. Joseph Health Obligated Group		3.744		10/01/47		115,152
	350,000		Providence St. Joseph Health Obligated Group		3.930		10/01/48		415,351
	400,000		Quest Diagnostics, Inc		4.700		04/01/21		408,320
	125,000		Quest Diagnostics, Inc		3.500		03/30/25		138,468
	225,000		Quest Diagnostics, Inc		3.450		06/01/26		254,752
	500,000		Quest Diagnostics, Inc		4.200		06/30/29		595,072
	750,000		Quest Diagnostics, Inc		2.950		06/30/30		818,655
	500,000		Quest Diagnostics, Inc		2.800		06/30/31		539,594
	300,000		Quest Diagnostics, Inc		4.700		03/30/45		378,025
	390,000		Rush Obligated Group		3.922		11/15/29		453,206
	200,000		RWJ Barnabas Health, Inc		3.949		07/01/46		226,778
	1,000,000	h	Sharp HealthCare		2.680		08/01/50		1,002,770
	300,000		SSM Health Care Corp		3.688		06/01/23		324,575
	400,000		SSM Health Care Corp		3.823		06/01/27		439,896
	500,000		Stanford Health Care		3.795		11/15/48		610,798
	475,000		Stryker Corp		1.150		06/15/25		480,862
	200,000		Stryker Corp		3.375		11/01/25		222,949
	1,600,000		Stryker Corp		3.500		03/15/26		1,805,058
	500,000		Stryker Corp		3.650		03/07/28		581,960
	600,000		Stryker Corp		1.950		06/15/30		610,977
	200,000		Stryker Corp		4.100		04/01/43		236,720
	200,000		Stryker Corp		4.375		05/15/44		247,571
	550,000		Stryker Corp		4.625		03/15/46		715,512
	575,000		Stryker Corp		2.900		06/15/50		591,222
	200,000		Sutter Health		3.695		08/15/28		224,816
	200,000		Sutter Health		4.091		08/15/48		236,441
	1,000,000		Texas Health Resources		2.328		11/15/50		930,831
	100,000		Texas Health Resources		4.330		11/15/55		133,713
	300,000		Trinity Health Corp		4.125		12/01/45		365,013
	185,000		Trinity Health Corp		3.434		12/01/48		194,564
	700,000		UnitedHealth Group, Inc		4.700		02/15/21		703,670
	500,000		UnitedHealth Group, Inc		2.875		12/15/21		515,472
	250,000		UnitedHealth Group, Inc		2.875		03/15/22		257,568
	800,000		UnitedHealth Group, Inc		3.350		07/15/22		842,954
	625,000		UnitedHealth Group, Inc		2.375		10/15/22		649,861
	325,000		UnitedHealth Group, Inc		2.750		02/15/23		340,893
	400,000		UnitedHealth Group, Inc		2.875		03/15/23		423,692
	1,650,000		UnitedHealth Group, Inc		3.500		02/15/24		1,812,056
	500,000		UnitedHealth Group, Inc		3.700		12/15/25		572,365
	1,000,000		UnitedHealth Group, Inc		1.250		01/15/26		1,023,637
	200,000		UnitedHealth Group, Inc		3.450		01/15/27		227,414
	300,000		UnitedHealth Group, Inc		3.375		04/15/27		341,856
	1,700,000		UnitedHealth Group, Inc		2.950		10/15/27		1,893,610
	2,375,000		UnitedHealth Group, Inc		3.850		06/15/28		2,795,030
	500,000		UnitedHealth Group, Inc		3.875		12/15/28		593,405
	1,000,000		UnitedHealth Group, Inc		2.875		08/15/29		1,112,803
	925,000		UnitedHealth Group, Inc		4.625		07/15/35		1,215,147
	150,000		UnitedHealth Group, Inc		5.800		03/15/36		216,706
	365,000		UnitedHealth Group, Inc		6.625		11/15/37		575,541
	200,000		UnitedHealth Group, Inc		6.875		02/15/38		321,344
	275,000		UnitedHealth Group, Inc		3.500		08/15/39		315,366
	300,000		UnitedHealth Group, Inc		4.375		03/15/42		380,609

49

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	350,000	UnitedHealth Group, Inc		3.950	%	10/15/42	$	423,997
	375,000	UnitedHealth Group, Inc		4.250		03/15/43		472,810
	1,500,000	UnitedHealth Group, Inc		4.750		07/15/45		2,023,615
	800,000	UnitedHealth Group, Inc		4.200		01/15/47		1,009,474
	300,000	UnitedHealth Group, Inc		4.250		04/15/47		380,635
	500,000	UnitedHealth Group, Inc		3.750		10/15/47		592,189
	1,700,000	UnitedHealth Group, Inc		4.250		06/15/48		2,162,651
	1,600,000	UnitedHealth Group, Inc		4.450		12/15/48		2,130,622
	1,000,000	UnitedHealth Group, Inc		3.700		08/15/49		1,193,590
	1,000,000	UnitedHealth Group, Inc		2.900		05/15/50		1,042,158
	1,250,000	UnitedHealth Group, Inc		3.875		08/15/59		1,511,691
	1,000,000	UnitedHealth Group, Inc		3.125		05/15/60		1,070,075
	750,000	Zimmer Biomet Holdings, Inc		3.150		04/01/22		775,709
	250,000	Zimmer Biomet Holdings, Inc		3.700		03/19/23		266,894
	2,575,000	Zimmer Biomet Holdings, Inc		3.550		04/01/25		2,846,098
	225,000	Zimmer Biomet Holdings, Inc		3.050		01/15/26		246,856
	1,100,000	Zimmer Biomet Holdings, Inc		3.550		03/20/30		1,232,452
		TOTAL HEALTH CARE EQUIPMENT & SERVICES						237,884,855
HOUSEHOLD & PERSONAL PRODUCTS - 0.2%
	100,000	Church & Dwight Co, Inc		2.450		08/01/22		103,184
	250,000	Church & Dwight Co, Inc		2.875		10/01/22		261,882
	500,000	Church & Dwight Co, Inc		3.150		08/01/27		551,939
	100,000	Church & Dwight Co, Inc		3.950		08/01/47		117,416
	100,000	Clorox Co		3.800		11/15/21		103,826
	100,000	Clorox Co		3.050		09/15/22		104,427
	200,000	Clorox Co		3.500		12/15/24		222,401
	300,000	Clorox Co		3.100		10/01/27		337,789
	500,000	Clorox Co		3.900		05/15/28		595,872
	1,000,000	Clorox Co		1.800		05/15/30		1,028,766
	200,000	Colgate-Palmolive Co		2.300		05/03/22		206,221
	1,100,000	Colgate-Palmolive Co		2.250		11/15/22		1,144,596
	200,000	Colgate-Palmolive Co		1.950		02/01/23		206,886
	300,000	Colgate-Palmolive Co		3.250		03/15/24		327,740
	60,000	Colgate-Palmolive Co		6.450		06/16/28		77,163
	300,000	Colgate-Palmolive Co		4.000		08/15/45		402,759
	550,000	Colgate-Palmolive Co		3.700		08/01/47		726,738
	200,000	Estee Lauder Cos, Inc		2.350		08/15/22		206,834
	125,000	Estee Lauder Cos, Inc		2.000		12/01/24		131,658
	450,000	Estee Lauder Cos, Inc		3.150		03/15/27		507,397
	200,000	Estee Lauder Cos, Inc		2.375		12/01/29		214,985
	100,000	Estee Lauder Cos, Inc		2.600		04/15/30		109,189
	100,000	Estee Lauder Cos, Inc		6.000		05/15/37		143,917
	300,000	Estee Lauder Cos, Inc		4.375		06/15/45		391,227
	375,000	Estee Lauder Cos, Inc		4.150		03/15/47		470,614
	700,000	Estee Lauder Cos, Inc		3.125		12/01/49		768,277
	125,000	Kimberly-Clark Corp		2.400		03/01/22		128,580
	950,000	Kimberly-Clark Corp		3.050		08/15/25		1,052,906
	200,000	Kimberly-Clark Corp		1.050		09/15/27		201,384
	412,000	Kimberly-Clark Corp		3.950		11/01/28		494,845
	1,500,000	Kimberly-Clark Corp		3.200		04/25/29		1,726,791
	200,000	Kimberly-Clark Corp		6.625		08/01/37		317,651
	725,000	Kimberly-Clark Corp		3.200		07/30/46		834,891

50

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	200,000	Kimberly-Clark Corp		3.900	%	05/04/47	$	256,204
	300,000	Kimberly-Clark Corp		2.875		02/07/50		332,582
	800,000	Procter & Gamble Co		2.300		02/06/22		821,866
	2,400,000	Procter & Gamble Co		2.150		08/11/22		2,484,902
	600,000	Procter & Gamble Co		3.100		08/15/23		645,437
	750,000	Procter & Gamble Co		2.700		02/02/26		838,194
	1,750,000	Procter & Gamble Co		2.450		11/03/26		1,934,348
	750,000	Procter & Gamble Co		2.850		08/11/27		847,133
	700,000	Procter & Gamble Co		3.500		10/25/47		873,618
	1,800,000	Procter & Gamble Co		3.600		03/25/50		2,280,593
		TOTAL HOUSEHOLD & PERSONAL PRODUCTS						25,535,628
INSURANCE - 0.9%
	250,000	ACE INA Holdings, Inc		2.700		03/13/23		263,018
	700,000	ACE INA Holdings, Inc		3.150		03/15/25		773,025
	2,325,000	ACE INA Holdings, Inc		3.350		05/03/26		2,634,081
	150,000	ACE INA Holdings, Inc		4.150		03/13/43		189,507
	1,600,000	ACE INA Holdings, Inc		4.350		11/03/45		2,092,308
	500,000	Aegon NV		5.500		04/11/48		549,778
	1,175,000	Aetna, Inc		2.750		11/15/22		1,222,615
	1,125,000	Aetna, Inc		2.800		06/15/23		1,185,455
	325,000	Aetna, Inc		3.500		11/15/24		356,079
	440,000	Aetna, Inc		6.625		06/15/36		624,827
	350,000	Aetna, Inc		4.500		05/15/42		415,957
	500,000	Aetna, Inc		4.125		11/15/42		569,352
	1,050,000	Aetna, Inc		3.875		08/15/47		1,170,414
	600,000	Aflac, Inc		3.625		06/15/23		650,793
	525,000	Aflac, Inc		3.625		11/15/24		586,042
	200,000	Aflac, Inc		2.875		10/15/26		220,459
	375,000	Aflac, Inc		3.600		04/01/30		439,040
	200,000	Aflac, Inc		4.000		10/15/46		231,989
	500,000	Aflac, Inc		4.750		01/15/49		643,375
	300,000	Alleghany Corp		4.950		06/27/22		318,887
	1,000,000	Alleghany Corp		3.625		05/15/30		1,123,342
	200,000	Alleghany Corp		4.900		09/15/44		249,385
	300,000	Allied World Assurance Co Holdings Ltd		4.350		10/29/25		324,743
	1,250,000	Allstate Corp		3.150		06/15/23		1,343,444
	275,000	Allstate Corp		3.280		12/15/26		312,767
	600,000	Allstate Corp		4.500		06/15/43		761,948
	975,000	Allstate Corp		4.200		12/15/46		1,214,969
	250,000	Allstate Corp		3.850		08/10/49		296,506
	200,000	Allstate Corp		5.750		08/15/53		207,754
	300,000	American Financial Group, Inc		3.500		08/15/26		324,704
	325,000	American Financial Group, Inc		5.250		04/02/30		393,435
	400,000	American Financial Group, Inc		4.500		06/15/47		442,749
	600,000	American International Group, Inc		4.125		02/15/24		665,706
	500,000	American International Group, Inc		2.500		06/30/25		534,351
	750,000	American International Group, Inc		3.750		07/10/25		840,196
	825,000	American International Group, Inc		4.200		04/01/28		955,103
	2,600,000	American International Group, Inc		4.250		03/15/29		3,050,314
	1,000,000	American International Group, Inc		3.400		06/30/30		1,103,101
	1,675,000	American International Group, Inc		3.875		01/15/35		1,925,120
	300,000	American International Group, Inc		4.700		07/10/35		376,152
	925,000	American International Group, Inc		6.250		05/01/36		1,280,847

51

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	725,000	American International Group, Inc		4.500	%	07/16/44	$	849,378
	300,000	American International Group, Inc		4.800		07/10/45		366,395
	1,000,000	American International Group, Inc		4.750		04/01/48		1,223,358
	300,000	American International Group, Inc		5.750		04/01/48		327,032
	1,000,000	American International Group, Inc		4.375		06/30/50		1,167,592
	200,000	American International Group, Inc		4.375		01/15/55		228,901
	300,000	Aon Corp		2.200		11/15/22		310,382
	200,000	Aon Corp		4.500		12/15/28		241,689
	450,000	Aon Corp		3.750		05/02/29		518,754
	450,000	Aon Corp		2.800		05/15/30		485,834
	200,000	Aon Corp		6.250		09/30/40		292,824
	200,000	Aon plc		4.000		11/27/23		218,612
	300,000	Aon plc		3.500		06/14/24		326,815
	2,450,000	Aon plc		3.875		12/15/25		2,798,312
	550,000	Aon plc		4.750		05/15/45		715,028
	1,050,000	Arch Capital Group Ltd		4.011		12/15/26		1,218,623
	200,000	Arch Capital Group Ltd		5.031		12/15/46		251,591
	600,000	Arch Capital Group Ltd		3.635		06/30/50		643,546
	300,000	Arch Capital Group US, Inc		5.144		11/01/43		380,974
	200,000	Aspen Insurance Holdings Ltd		4.650		11/15/23		216,535
	100,000	Assurant, Inc		4.000		03/15/23		105,396
	300,000	Assurant, Inc		4.200		09/27/23		321,098
	300,000	Assurant, Inc		4.900		03/27/28		332,197
	500,000	Assurant, Inc		3.700		02/22/30		520,362
	7,000	Assurant, Inc		6.750		02/15/34		8,557
	200,000	Assured Guaranty US Holdings, Inc		5.000		07/01/24		225,778
	675,000	Athene Holding Ltd		4.125		01/12/28		731,269
	500,000	Athene Holding Ltd		6.150		04/03/30		592,589
	770,000	AXA S.A.		8.600		12/15/30		1,177,392
	300,000	AXIS Specialty Finance LLC		3.900		07/15/29		327,690
	250,000	AXIS Specialty Finance LLC		4.900		01/15/40		249,606
	200,000	AXIS Specialty Finance plc		4.000		12/06/27		218,813
	275,000	Berkshire Hathaway Finance Corp		3.000		05/15/22		286,746
	100,000	Berkshire Hathaway Finance Corp		1.850		03/12/30		104,459
	300,000	Berkshire Hathaway Finance Corp		4.400		05/15/42		381,629
	2,175,000	Berkshire Hathaway Finance Corp		4.200		08/15/48		2,790,596
	1,725,000	Berkshire Hathaway Finance Corp		4.250		01/15/49		2,244,794
	1,475,000	Brighthouse Financial, Inc		3.700		06/22/27		1,531,471
	1,000,000	Brighthouse Financial, Inc		5.625		05/15/30		1,166,124
	725,000	Brighthouse Financial, Inc		4.700		06/22/47		693,294
	500,000	Brown & Brown, Inc		4.500		03/15/29		570,348
	1,000,000	Brown & Brown, Inc		2.375		03/15/31		1,008,931
	450,000	Chubb Corp		6.000		05/11/37		669,716
	1,225,000	Chubb INA Holdings, Inc		2.875		11/03/22		1,281,285
	1,325,000	Chubb INA Holdings, Inc		1.375		09/15/30		1,306,033
	200,000	Cincinnati Financial Corp		6.920		05/15/28		265,086
	690,000	CNA Financial Corp		3.950		05/15/24		764,440
	200,000	CNA Financial Corp		4.500		03/01/26		234,856
	225,000	CNA Financial Corp		3.450		08/15/27		252,663
	100,000	CNA Financial Corp		3.900		05/01/29		114,634
	150,000	CNA Financial Corp		2.050		08/15/30		148,650
	200,000	Enstar Group Ltd		4.500		03/10/22		208,359
	500,000	Enstar Group Ltd		4.950		06/01/29		559,958

52

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	300,000		Everest Reinsurance Holdings, Inc		4.868	%	06/01/44	$	342,403
	400,000		Fairfax Financial Holdings Ltd		4.850		04/17/28		438,118
	500,000	g	Fairfax Financial Holdings Ltd		4.625		04/29/30		542,073
	250,000		Fidelity National Financial, Inc		5.500		09/01/22		271,317
	300,000		Fidelity National Financial, Inc		4.500		08/15/28		348,133
	1,000,000		Fidelity National Financial, Inc		3.400		06/15/30		1,073,867
	500,000		Fidelity National Financial, Inc		2.450		03/15/31		495,481
	750,000		First American Financial Corp		4.000		05/15/30		825,953
	350,000		Globe Life, Inc		2.150		08/15/30		351,820
	200,000		Hanover Insurance Group, Inc		4.500		04/15/26		227,368
	1,000,000		Hanover Insurance Group, Inc		2.500		09/01/30		1,026,112
	750,000		Hartford Financial Services Group, Inc		2.800		08/19/29		812,731
	400,000		Hartford Financial Services Group, Inc		4.300		04/15/43		468,906
	450,000		Hartford Financial Services Group, Inc		4.400		03/15/48		554,607
	450,000		Hartford Financial Services Group, Inc		3.600		08/19/49		498,578
	200,000		Kemper Corp		4.350		02/15/25		219,420
	500,000		Kemper Corp		2.400		09/30/30		492,427
	400,000		Leucadia National Corp		5.500		10/18/23		441,233
	400,000		Lincoln National Corp		4.200		03/15/22		422,841
	625,000		Lincoln National Corp		4.000		09/01/23		682,264
	175,000		Lincoln National Corp		3.350		03/09/25		191,427
	600,000		Lincoln National Corp		3.625		12/12/26		677,100
	1,175,000		Lincoln National Corp		3.800		03/01/28		1,351,999
	650,000		Lincoln National Corp		3.050		01/15/30		701,111
	500,000		Lincoln National Corp		3.400		01/15/31		557,043
	150,000		Lincoln National Corp		7.000		06/15/40		219,520
	250,000		Lincoln National Corp		4.350		03/01/48		286,036
	500,000		Lincoln National Corp		4.375		06/15/50		577,965
	200,000		Loews Corp		2.625		05/15/23		209,808
	800,000		Loews Corp		3.750		04/01/26		911,980
	400,000		Loews Corp		3.200		05/15/30		446,831
	200,000		Loews Corp		4.125		05/15/43		231,509
	700,000		Manulife Financial Corp		4.150		03/04/26		820,866
	1,000,000		Manulife Financial Corp		2.484		05/19/27		1,069,591
	1,300,000		Manulife Financial Corp		4.061		02/24/32		1,406,584
	200,000		Manulife Financial Corp		5.375		03/04/46		279,136
	150,000		Markel Corp		4.900		07/01/22		160,831
	600,000		Markel Corp		3.500		11/01/27		657,285
	200,000		Markel Corp		3.350		09/17/29		220,685
	150,000		Markel Corp		5.000		04/05/46		198,505
	100,000		Markel Corp		4.300		11/01/47		118,225
	750,000		Markel Corp		5.000		05/20/49		999,784
	200,000		Markel Corp		4.150		09/17/50		239,208
	725,000		Marsh & McLennan Cos, Inc		3.875		03/15/24		803,567
	2,300,000		Marsh & McLennan Cos, Inc		3.500		03/10/25		2,540,087
	1,700,000		Marsh & McLennan Cos, Inc		4.375		03/15/29		2,063,641
	450,000		Marsh & McLennan Cos, Inc		2.250		11/15/30		470,712
	250,000		Marsh & McLennan Cos, Inc		4.750		03/15/39		328,548
	100,000		Marsh & McLennan Cos, Inc		4.350		01/30/47		128,699
	300,000		Marsh & McLennan Cos, Inc		4.200		03/01/48		378,194
	1,200,000		Marsh & McLennan Cos, Inc		4.900		03/15/49		1,670,472
	200,000		Mercury General Corp		4.400		03/15/27		216,514
	700,000		MetLife, Inc		3.048		12/15/22		740,285
	525,000		MetLife, Inc		4.368		09/15/23		584,570

53

TIAA-CREF FUNDS – Bond Index Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	700,000		MetLife, Inc			3.600	%	04/10/24	$	772,960
	700,000		MetLife, Inc			3.600		11/13/25		794,501
	675,000		MetLife, Inc			6.375		06/15/34		1,025,291
	1,530,000		MetLife, Inc			5.700		06/15/35		2,241,738
	130,000		MetLife, Inc			5.875		02/06/41		188,808
	450,000		MetLife, Inc			4.125		08/13/42		547,567
	750,000		MetLife, Inc			4.875		11/13/43		1,004,167
	500,000		MetLife, Inc			4.721		12/15/44		657,860
	800,000		MetLife, Inc			4.050		03/01/45		971,189
	1,650,000		MetLife, Inc			4.600		05/13/46		2,158,251
	200,000		Montpelier Re Holdings Ltd			4.700		10/15/22		212,197
	20,000		Nationwide Financial Services			6.750		05/15/37		23,532
	200,000		Old Republic International Corp			4.875		10/01/24		226,993
	100,000		Old Republic International Corp			3.875		08/26/26		113,658
	500,000		PartnerRe Finance B LLC			3.700		07/02/29		556,939
	500,000		PartnerRe Finance B LLC			4.500		10/01/50		501,533
	100,000		Primerica, Inc			4.750		07/15/22		106,645
	100,000		Principal Financial Group, Inc			3.300		09/15/22		105,243
	150,000		Principal Financial Group, Inc			3.125		05/15/23		160,174
	200,000		Principal Financial Group, Inc			3.400		05/15/25		221,942
	850,000		Principal Financial Group, Inc			3.100		11/15/26		945,498
	100,000		Principal Financial Group, Inc			3.700		05/15/29		116,413
	1,000,000		Principal Financial Group, Inc			2.125		06/15/30		1,029,383
	100,000		Principal Financial Group, Inc			4.625		09/15/42		126,908
	200,000		Principal Financial Group, Inc			4.350		05/15/43		240,871
	300,000		Principal Financial Group, Inc			4.300		11/15/46		360,028
	200,000	i	Principal Financial Group, Inc	LIBOR 3 M + 3.044%		3.324		05/15/55		178,940
	650,000		Progressive Corp			2.450		01/15/27		700,469
	250,000		Progressive Corp			4.000		03/01/29		301,144
	100,000		Progressive Corp			3.200		03/26/30		114,474
	120,000		Progressive Corp			6.250		12/01/32		178,697
	300,000		Progressive Corp			4.350		04/25/44		391,668
	300,000		Progressive Corp			3.700		01/26/45		357,037
	950,000		Progressive Corp			4.125		04/15/47		1,205,416
	750,000		Progressive Corp			4.200		03/15/48		969,099
	100,000		Progressive Corp			3.950		03/26/50		126,495
	891,000		Prudential Financial, Inc			4.500		11/16/21		932,581
	200,000		Prudential Financial, Inc			1.500		03/10/26		208,295
	300,000		Prudential Financial, Inc			3.878		03/27/28		351,398
	500,000		Prudential Financial, Inc			2.100		03/10/30		524,017
	450,000		Prudential Financial, Inc			5.700		12/14/36		644,105
	500,000		Prudential Financial, Inc			3.000		03/10/40		535,292
	600,000		Prudential Financial, Inc			5.200		03/15/44		635,465
	1,700,000		Prudential Financial, Inc			4.600		05/15/44		2,079,524
	200,000		Prudential Financial, Inc			5.375		05/15/45		215,871
	2,300,000		Prudential Financial, Inc			4.500		09/15/47		2,423,462
	300,000		Prudential Financial, Inc			4.418		03/27/48		355,000
	2,400,000		Prudential Financial, Inc			5.700		09/15/48		2,711,078
	799,000		Prudential Financial, Inc			3.935		12/07/49		903,993
	450,000		Prudential Financial, Inc			4.350		02/25/50		540,022
	1,000,000		Prudential Financial, Inc			3.700		03/13/51		1,100,589
	200,000		Prudential plc			3.125		04/14/30		222,539
	100,000		Reinsurance Group of America, Inc			5.000		06/01/21		103,005

54

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	250,000	Reinsurance Group of America, Inc		4.700	%	09/15/23	$	276,024
	750,000	Reinsurance Group of America, Inc		3.900		05/15/29		855,680
	350,000	Reinsurance Group of America, Inc		3.150		06/15/30		381,028
	200,000	RenaissanceRe Finance, Inc		3.700		04/01/25		216,794
	200,000	RenaissanceRe Finance, Inc		3.450		07/01/27		218,320
	300,000	RenaissanceRe Holdings Ltd		3.600		04/15/29		338,470
	250,000	Torchmark Corp		3.800		09/15/22		265,402
	350,000	Torchmark Corp		4.550		09/15/28		417,680
	20,000	Transatlantic Holdings, Inc		8.000		11/30/39		31,400
	600,000	Travelers Cos, Inc		5.350		11/01/40		834,861
	200,000	Travelers Cos, Inc		4.600		08/01/43		260,051
	250,000	Travelers Cos, Inc		4.300		08/25/45		315,994
	400,000	Travelers Cos, Inc		3.750		05/15/46		468,011
	1,100,000	Travelers Cos, Inc		4.000		05/30/47		1,340,127
	500,000	Travelers Cos, Inc		4.050		03/07/48		619,964
	900,000	Travelers Cos, Inc		4.100		03/04/49		1,123,596
	100,000	Travelers Cos, Inc		2.550		04/27/50		97,879
	100,000	Travelers Property Casualty Corp		6.375		03/15/33		147,036
	200,000	Unum Group		4.000		03/15/24		216,738
	500,000	Unum Group		4.000		06/15/29		548,170
	300,000	Unum Group		5.750		08/15/42		345,832
	500,000	Unum Group		4.500		12/15/49		483,535
	200,000	Willis Group Holdings plc		5.750		03/15/21		204,457
	425,000	Willis North America, Inc		3.600		05/15/24		463,993
	500,000	Willis North America, Inc		4.500		09/15/28		595,761
	900,000	Willis North America, Inc		2.950		09/15/29		972,623
	300,000	Willis North America, Inc		5.050		09/15/48		402,492
	500,000	Willis North America, Inc		3.875		09/15/49		572,515
	250,000	WR Berkley Corp		4.625		03/15/22		264,046
	200,000	WR Berkley Corp		4.750		08/01/44		245,759
	650,000	WR Berkley Corp		4.000		05/12/50		772,110
	455,000	XLIT Ltd		4.450		03/31/25		514,485
	200,000	XLIT Ltd		5.250		12/15/43		277,999
	300,000	XLIT Ltd		5.500		03/31/45		395,833
		TOTAL INSURANCE						149,939,230
MATERIALS - 0.7%
	150,000	Air Products & Chemicals, Inc		3.000		11/03/21		154,098
	150,000	Air Products & Chemicals, Inc		2.750		02/03/23		157,844
	300,000	Air Products & Chemicals, Inc		3.350		07/31/24		328,653
	175,000	Air Products & Chemicals, Inc		1.500		10/15/25		181,497
	500,000	Air Products & Chemicals, Inc		1.850		05/15/27		524,868
	125,000	Air Products & Chemicals, Inc		2.050		05/15/30		131,703
	125,000	Air Products & Chemicals, Inc		2.700		05/15/40		132,861
	1,250,000	Air Products & Chemicals, Inc		2.800		05/15/50		1,311,440
	200,000	Airgas, Inc		3.650		07/15/24		220,560
	200,000	Albemarle Corp		4.150		12/01/24		217,870
	750,000	Albemarle Wodgina Pty Ltd		3.450		11/15/29		760,623
	500,000	Amcor Finance USA, Inc		3.625		04/28/26		556,856
	400,000	Amcor Finance USA, Inc		4.500		05/15/28		468,621
	375,000	AngloGold Ashanti Holdings plc		3.750		10/01/30		382,449
	300,000	Avery Dennison Corp		4.875		12/06/28		372,737
	500,000	Avery Dennison Corp		2.650		04/30/30		533,370
	100,000	Barrick Australian Finance Pty Ltd		5.950		10/15/39		142,399

55

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	2,250,000	Barrick Gold Corp		5.250	%	04/01/42	$	3,079,118
	500,000	Barrick North America Finance LLC		5.750		05/01/43		726,728
	100,000	Bemis Co, Inc		3.100		09/15/26		108,969
	200,000	Bemis Co, Inc		2.630		06/19/30		213,447
	2,000,000	BHP Billiton Finance USA Ltd		2.875		02/24/22		2,066,374
	825,000	BHP Billiton Finance USA Ltd		4.125		02/24/42		1,029,188
	1,925,000	BHP Billiton Finance USA Ltd		5.000		09/30/43		2,700,842
	200,000	Cabot Corp		3.700		07/15/22		207,575
	500,000	Cabot Corp		4.000		07/01/29		530,481
	400,000	Celulosa Arauco y Constitucion S.A.		4.500		08/01/24		436,084
	375,000	Celulosa Arauco y Constitucion S.A.		3.875		11/02/27		397,642
	200,000	Celulosa Arauco y Constitucion S.A.		5.500		11/02/47		221,800
	200,000	Domtar Corp		4.400		04/01/22		205,584
	1,008,000	Dow Chemical Co		3.500		10/01/24		1,104,341
	200,000	Dow Chemical Co		4.550		11/30/25		232,774
	750,000	Dow Chemical Co		3.625		05/15/26		832,130
	300,000	Dow Chemical Co		4.800		11/30/28		360,815
	175,000	Dow Chemical Co		7.375		11/01/29		245,823
	1,000,000	Dow Chemical Co		2.100		11/15/30		984,660
	1,400,000	Dow Chemical Co		4.250		10/01/34		1,629,058
	225,000	Dow Chemical Co		9.400		05/15/39		382,922
	275,000	Dow Chemical Co		5.250		11/15/41		337,602
	1,200,000	Dow Chemical Co		4.375		11/15/42		1,354,499
	400,000	Dow Chemical Co		4.625		10/01/44		466,720
	825,000	Dow Chemical Co		5.550		11/30/48		1,086,415
	750,000	Dow Chemical Co		4.800		05/15/49		890,605
	1,000,000	Dow Chemical Co		3.600		11/15/50		1,013,650
	1,550,000	DowDuPont, Inc		4.205		11/15/23		1,703,775
	1,600,000	DowDuPont, Inc		4.493		11/15/25		1,839,851
	2,300,000	DowDuPont, Inc		4.725		11/15/28		2,759,420
	150,000	DowDuPont, Inc		5.319		11/15/38		190,721
	2,325,000	DowDuPont, Inc		5.419		11/15/48		3,109,169
	550,000	DuPont de Nemours, Inc		2.169		05/01/23		555,117
	100,000	Eastman Chemical Co		3.500		12/01/21		103,039
	272,000	Eastman Chemical Co		3.600		08/15/22		285,298
	727,000	Eastman Chemical Co		3.800		03/15/25		802,231
	700,000	Eastman Chemical Co		4.500		12/01/28		822,705
	150,000	Eastman Chemical Co		4.800		09/01/42		177,334
	525,000	Eastman Chemical Co		4.650		10/15/44		614,892
	300,000	Ecolab, Inc		2.375		08/10/22		310,680
	200,000	Ecolab, Inc		3.250		01/14/23		211,718
	750,000	Ecolab, Inc		2.700		11/01/26		839,053
	300,000	Ecolab, Inc		3.250		12/01/27		339,503
	575,000	Ecolab, Inc		4.800		03/24/30		730,810
	1,000,000	Ecolab, Inc		1.300		01/30/31		978,370
	14,000	Ecolab, Inc		5.500		12/08/41		20,128
	710,000	Ecolab, Inc		3.950		12/01/47		895,789
	150,000	Ecolab, Inc		2.125		08/15/50		137,313
	350,000	EI du Pont de Nemours and Co		1.700		07/15/25		362,941
	175,000	EI du Pont de Nemours and Co		2.300		07/15/30		185,533
	700,000	Fibria Overseas Finance Ltd		5.500		01/17/27		791,007
	100,000	FMC Corp		3.950		02/01/22		103,347
	200,000	FMC Corp		4.100		02/01/24		217,611

56

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	500,000	FMC Corp		3.200	%	10/01/26	$	552,311
	500,000	FMC Corp		3.450		10/01/29		559,275
	500,000	FMC Corp		4.500		10/01/49		624,743
	300,000	Georgia-Pacific LLC		8.000		01/15/24		367,596
	750,000	Georgia-Pacific LLC		7.750		11/15/29		1,120,616
	600,000	Huntsman International LLC		4.500		05/01/29		674,530
	300,000	International Flavors & Fragrances, Inc		3.200		05/01/23		312,575
	100,000	International Flavors & Fragrances, Inc		4.450		09/26/28		117,295
	200,000	International Flavors & Fragrances, Inc		4.375		06/01/47		230,982
	675,000	International Flavors & Fragrances, Inc		5.000		09/26/48		833,518
	450,000	International Paper Co		6.000		11/15/41		619,959
	525,000	International Paper Co		4.800		06/15/44		651,486
	300,000	International Paper Co		4.400		08/15/47		365,030
	2,425,000	International Paper Co		4.350		08/15/48		2,961,815
	1,000,000	Kinross Gold Corp		4.500		07/15/27		1,133,657
	150,000	Lubrizol Corp		6.500		10/01/34		234,802
	300,000	LYB International Finance BV		4.000		07/15/23		324,981
	1,000,000	LYB International Finance BV		3.500		03/02/27		1,109,674
	575,000	LYB International Finance BV		5.250		07/15/43		704,819
	550,000	LYB International Finance BV		4.875		03/15/44		650,488
	500,000	LYB International Finance III LLC		2.875		05/01/25		535,772
	500,000	LYB International Finance III LLC		3.375		05/01/30		543,281
	1,000,000	LYB International Finance III LLC		4.200		10/15/49		1,113,187
	750,000	LYB International Finance III LLC		4.200		05/01/50		832,823
	300,000	LyondellBasell Industries NV		6.000		11/15/21		313,936
	1,300,000	LyondellBasell Industries NV		5.750		04/15/24		1,491,875
	475,000	LyondellBasell Industries NV		4.625		02/26/55		539,045
	200,000	Martin Marietta Materials, Inc		4.250		07/02/24		221,291
	200,000	Martin Marietta Materials, Inc		3.450		06/01/27		221,752
	325,000	Martin Marietta Materials, Inc		3.500		12/15/27		365,094
	250,000	Martin Marietta Materials, Inc		2.500		03/15/30		260,177
	450,000	Martin Marietta Materials, Inc		4.250		12/15/47		512,486
	200,000	Mosaic Co		3.250		11/15/22		209,006
	1,000,000	Mosaic Co		4.250		11/15/23		1,085,274
	800,000	Mosaic Co		4.050		11/15/27		889,535
	300,000	Mosaic Co		5.450		11/15/33		350,245
	100,000	Mosaic Co		4.875		11/15/41		104,718
	600,000	Mosaic Co		5.625		11/15/43		705,102
	100,000	NewMarket Corp		4.100		12/15/22		107,006
	250,000	Newmont Corp		2.250		10/01/30		257,821
	33,000	Newmont Goldcorp Corp		3.700		03/15/23		34,705
	1,300,000	Newmont Goldcorp Corp		2.800		10/01/29		1,406,332
	298,000	Newmont Goldcorp Corp		5.875		04/01/35		426,584
	235,000	Newmont Goldcorp Corp		6.250		10/01/39		349,443
	975,000	Newmont Goldcorp Corp		4.875		03/15/42		1,316,624
	300,000	Newmont Goldcorp Corp		5.450		06/09/44		425,612
	800,000	Nucor Corp		4.125		09/15/22		848,509
	275,000	Nucor Corp		2.000		06/01/25		287,168
	425,000	Nucor Corp		3.950		05/01/28		495,082
	150,000	Nucor Corp		2.700		06/01/30		160,945
	300,000	Nucor Corp		5.200		08/01/43		401,423
	700,000	Nucor Corp		4.400		05/01/48		908,354
	150,000	Nutrien Ltd		3.150		10/01/22		156,685
	500,000	Nutrien Ltd		1.900		05/13/23		516,105

57

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	200,000	Nutrien Ltd		3.500	%	06/01/23	$	213,429
	625,000	Nutrien Ltd		3.625		03/15/24		680,397
	425,000	Nutrien Ltd		3.375		03/15/25		469,197
	200,000	Nutrien Ltd		3.000		04/01/25		216,356
	700,000	Nutrien Ltd		4.000		12/15/26		812,352
	550,000	Nutrien Ltd		4.200		04/01/29		653,756
	500,000	Nutrien Ltd		2.950		05/13/30		546,687
	200,000	Nutrien Ltd		4.125		03/15/35		232,054
	200,000	Nutrien Ltd		5.625		12/01/40		259,071
	100,000	Nutrien Ltd		6.125		01/15/41		132,725
	200,000	Nutrien Ltd		4.900		06/01/43		247,026
	725,000	Nutrien Ltd		5.250		01/15/45		923,892
	1,050,000	Nutrien Ltd		5.000		04/01/49		1,376,977
	300,000	Nutrien Ltd		3.950		05/13/50		342,211
	500,000	Owens Corning		4.200		12/01/24		550,995
	300,000	Owens Corning		3.400		08/15/26		324,223
	500,000	Owens Corning		3.950		08/15/29		566,366
	300,000	Owens Corning		3.875		06/01/30		339,362
	525,000	Owens Corning		4.300		07/15/47		575,901
	350,000	Owens Corning		4.400		01/30/48		388,985
	250,000	Packaging Corp of America		4.500		11/01/23		276,482
	100,000	Packaging Corp of America		3.650		09/15/24		109,575
	550,000	Packaging Corp of America		3.400		12/15/27		613,894
	100,000	Packaging Corp of America		3.000		12/15/29		109,402
	500,000	Packaging Corp of America		4.050		12/15/49		596,381
	300,000	PPG Industries, Inc		3.200		03/15/23		318,562
	500,000	PPG Industries, Inc		2.400		08/15/24		531,831
	425,000	PPG Industries, Inc		3.750		03/15/28		512,048
	500,000	PPG Industries, Inc		2.550		06/15/30		530,743
	250,000	Praxair, Inc		2.200		08/15/22		257,394
	300,000	Praxair, Inc		2.650		02/05/25		324,796
	1,000,000	Praxair, Inc		3.200		01/30/26		1,122,460
	725,000	Praxair, Inc		1.100		08/10/30		701,957
	625,000	Praxair, Inc		3.550		11/07/42		744,548
	225,000	Praxair, Inc		2.000		08/10/50		202,384
	300,000	Reliance Steel & Aluminum Co		4.500		04/15/23		324,697
	500,000	Reliance Steel & Aluminum Co		1.300		08/15/25		500,016
	500,000	Reliance Steel & Aluminum Co		2.150		08/15/30		488,787
	414,000	Rio Tinto Alcan, Inc		6.125		12/15/33		601,786
	3,250,000	Rio Tinto Finance USA Ltd		3.750		06/15/25		3,672,113
	350,000	Rio Tinto Finance USA Ltd		5.200		11/02/40		497,187
	1,400,000	Rio Tinto Finance USA plc		4.125		08/21/42		1,799,427
	200,000	Rohm & Haas Co		7.850		07/15/29		281,559
	300,000	RPM International, Inc		3.450		11/15/22		310,867
	100,000	RPM International, Inc		3.750		03/15/27		109,991
	300,000	RPM International, Inc		4.550		03/01/29		351,551
	100,000	RPM International, Inc		5.250		06/01/45		120,712
	200,000	RPM International, Inc		4.250		01/15/48		211,955
	225,000	Sherwin-Williams Co		4.200		01/15/22		233,469
	27,000	Sherwin-Williams Co		2.750		06/01/22		27,947
	200,000	Sherwin-Williams Co		3.450		08/01/25		222,977
	200,000	Sherwin-Williams Co		3.950		01/15/26		224,414
	925,000	Sherwin-Williams Co		3.450		06/01/27		1,041,113

58

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	500,000	Sherwin-Williams Co		2.950	%	08/15/29	$	549,953
	500,000	Sherwin-Williams Co		2.300		05/15/30		521,782
	200,000	Sherwin-Williams Co		4.000		12/15/42		221,029
	900,000	Sherwin-Williams Co		4.500		06/01/47		1,118,707
	900,000	Sherwin-Williams Co		3.800		08/15/49		1,024,526
	500,000	Sherwin-Williams Co		3.300		05/15/50		525,638
	750,000	Sonoco Products Co		3.125		05/01/30		812,414
	150,000	Sonoco Products Co		5.750		11/01/40		194,266
	300,000	Southern Copper Corp		3.875		04/23/25		331,291
	100,000	Southern Copper Corp		7.500		07/27/35		146,153
	1,180,000	Southern Copper Corp		6.750		04/16/40		1,693,439
	1,500,000	Southern Copper Corp		5.875		04/23/45		2,031,701
	250,000	Steel Dynamics, Inc		2.800		12/15/24		264,109
	100,000	Steel Dynamics, Inc		2.400		06/15/25		104,316
	750,000	Steel Dynamics, Inc		3.450		04/15/30		826,364
	100,000	Steel Dynamics, Inc		3.250		01/15/31		106,926
	1,900,000	Suzano Austria GmbH		6.000		01/15/29		2,166,000
	1,675,000	Teck Resources Ltd		6.250		07/15/41		1,936,042
	750,000	Vulcan Materials Co		4.500		04/01/25		854,195
	100,000	Vulcan Materials Co		3.900		04/01/27		113,473
	275,000	Vulcan Materials Co		3.500		06/01/30		307,773
	475,000	Vulcan Materials Co		4.500		06/15/47		550,776
	200,000	Vulcan Materials Co		4.700		03/01/48		243,801
	500,000	Westlake Chemical Corp		3.600		08/15/26		549,112
	1,000,000	Westlake Chemical Corp		3.375		06/15/30		1,071,813
	500,000	Westlake Chemical Corp		5.000		08/15/46		583,745
	200,000	Westlake Chemical Corp		4.375		11/15/47		213,280
	500,000	WestRock RKT LLC		4.900		03/01/22		529,704
	500,000	WestRock RKT LLC		4.000		03/01/23		533,930
	250,000	WRKCo, Inc		3.000		09/15/24		268,301
	425,000	WRKCo, Inc		3.750		03/15/25		474,982
	525,000	WRKCo, Inc		4.650		03/15/26		616,767
	300,000	WRKCo, Inc		3.375		09/15/27		330,354
	325,000	WRKCo, Inc		4.000		03/15/28		373,016
	240,000	WRKCo, Inc		3.900		06/01/28		274,291
	950,000	WRKCo, Inc		4.900		03/15/29		1,171,531
	685,000	WRKCo, Inc		4.200		06/01/32		825,990
	400,000	WRKCo, Inc		3.000		06/15/33		434,744
	171,000	Yamana Gold, Inc		4.625		12/15/27		185,362
		TOTAL MATERIALS						133,961,382
MEDIA & ENTERTAINMENT - 1.3%
	475,000	Activision Blizzard, Inc		3.400		09/15/26		540,900
	300,000	Activision Blizzard, Inc		3.400		06/15/27		338,760
	250,000	Activision Blizzard, Inc		1.350		09/15/30		243,582
	300,000	Activision Blizzard, Inc		4.500		06/15/47		379,079
	1,100,000	Activision Blizzard, Inc		2.500		09/15/50		1,006,189
	150,000	Agree LP		2.900		10/01/30		154,787
	875,000	Alphabet, Inc		3.375		02/25/24		962,708
	675,000	Alphabet, Inc		0.450		08/15/25		670,924
	1,250,000	Alphabet, Inc		1.998		08/15/26		1,339,987
	1,000,000	Alphabet, Inc		0.800		08/15/27		991,785
	850,000	Alphabet, Inc		1.100		08/15/30		841,587
	1,000,000	Alphabet, Inc		1.900		08/15/40		958,725

59

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	2,800,000		Alphabet, Inc		2.050	%	08/15/50	$	2,602,032
	600,000		Alphabet, Inc		2.250		08/15/60		565,484
	750,000	g	Blackstone		3.650		07/14/23		755,770
	1,000,000		Brown University in Providence in the State of Rhode Island and Providence Plant		2.924		09/01/50		1,088,815
	1,135,000		Charter Communications Operating LLC		4.464		07/23/22		1,201,592
	225,000		Charter Communications Operating LLC		4.500		02/01/24		249,448
	3,650,000		Charter Communications Operating LLC		4.908		07/23/25		4,218,926
	950,000		Charter Communications Operating LLC		3.750		02/15/28		1,049,781
	2,750,000		Charter Communications Operating LLC		4.200		03/15/28		3,122,645
	2,000,000		Charter Communications Operating LLC		2.800		04/01/31		2,074,463
	750,000		Charter Communications Operating LLC		6.384		10/23/35		1,022,592
	1,500,000		Charter Communications Operating LLC		5.375		04/01/38		1,822,958
	1,550,000		Charter Communications Operating LLC		6.484		10/23/45		2,066,168
	1,400,000		Charter Communications Operating LLC		5.375		05/01/47		1,659,130
	1,375,000		Charter Communications Operating LLC		5.750		04/01/48		1,700,427
	1,600,000		Charter Communications Operating LLC		5.125		07/01/49		1,851,382
	2,500,000		Charter Communications Operating LLC		4.800		03/01/50		2,857,361
	1,000,000		Charter Communications Operating LLC		3.700		04/01/51		988,327
	1,000,000		Children’s Health System of Texas		2.511		08/15/50		947,472
	250,000		Comcast Cable Communications Holdings, Inc		9.455		11/15/22		297,631
	850,000		Comcast Corp		3.000		02/01/24		916,369
	325,000		Comcast Corp		3.600		03/01/24		357,479
	2,025,000		Comcast Corp		3.700		04/15/24		2,236,058
	850,000		Comcast Corp		3.375		02/15/25		940,762
	350,000		Comcast Corp		3.375		08/15/25		390,137
	1,550,000		Comcast Corp		3.950		10/15/25		1,777,492
	1,950,000		Comcast Corp		3.150		03/01/26		2,167,079
	1,025,000		Comcast Corp		2.350		01/15/27		1,101,157
	1,450,000		Comcast Corp		3.300		02/01/27		1,634,745
	900,000		Comcast Corp		3.150		02/15/28		1,011,594
	2,675,000		Comcast Corp		4.150		10/15/28		3,227,722
	3,300,000		Comcast Corp		4.250		10/15/30		4,050,735
	1,950,000		Comcast Corp		1.950		01/15/31		2,002,207
	1,050,000		Comcast Corp		1.500		02/15/31		1,033,259
	1,925,000		Comcast Corp		4.250		01/15/33		2,393,426
	150,000		Comcast Corp		7.050		03/15/33		229,018
	200,000		Comcast Corp		4.200		08/15/34		249,590
	500,000		Comcast Corp		4.400		08/15/35		632,353
	175,000		Comcast Corp		6.500		11/15/35		265,352
	3,475,000		Comcast Corp		3.200		07/15/36		3,856,663
	175,000		Comcast Corp		6.950		08/15/37		276,727
	3,150,000		Comcast Corp		3.900		03/01/38		3,729,548
	1,425,000		Comcast Corp		4.600		10/15/38		1,814,262
	1,000,000		Comcast Corp		3.250		11/01/39		1,106,694
	3,800,000		Comcast Corp		3.750		04/01/40		4,432,793
	150,000		Comcast Corp		4.650		07/15/42		195,396
	175,000		Comcast Corp		4.750		03/01/44		229,605
	1,125,000		Comcast Corp		4.600		08/15/45		1,448,311
	1,275,000		Comcast Corp		3.400		07/15/46		1,407,428
	631,000		Comcast Corp		3.969		11/01/47		747,417
	1,500,000		Comcast Corp		4.000		03/01/48		1,813,222
	2,625,000		Comcast Corp		4.700		10/15/48		3,473,806

60

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	1,407,000		Comcast Corp		3.999	%	11/01/49	$	1,701,980
	2,525,000		Comcast Corp		3.450		02/01/50		2,867,208
	425,000		Comcast Corp		2.800		01/15/51		425,877
	1,050,000		Comcast Corp		2.450		08/15/52		981,598
	3,600,000		Comcast Corp		4.950		10/15/58		5,153,059
	350,000		Comcast Corp		2.650		08/15/62		332,554
	485,000		Cottage Health Obligated Group		3.304		11/01/49		537,104
	750,000		DH Europe Finance II Sarl		2.050		11/15/22		773,471
	750,000		DH Europe Finance II Sarl		2.200		11/15/24		792,332
	300,000		DH Europe Finance II Sarl		2.600		11/15/29		325,063
	550,000		DH Europe Finance II Sarl		3.250		11/15/39		609,438
	1,000,000		DH Europe Finance II Sarl		3.400		11/15/49		1,134,349
	237,000		Discovery Communications LLC		2.950		03/20/23		249,658
	300,000		Discovery Communications LLC		3.800		03/13/24		327,328
	200,000		Discovery Communications LLC		3.900		11/15/24		221,903
	350,000		Discovery Communications LLC		3.450		03/15/25		383,097
	200,000		Discovery Communications LLC		3.950		06/15/25		225,547
	500,000		Discovery Communications LLC		4.900		03/11/26		584,094
	2,275,000		Discovery Communications LLC		3.950		03/20/28		2,586,687
	1,000,000		Discovery Communications LLC		4.125		05/15/29		1,148,874
	250,000		Discovery Communications LLC		3.625		05/15/30		277,861
	1,400,000		Discovery Communications LLC		5.200		09/20/47		1,678,402
	1,400,000		Discovery Communications LLC		5.300		05/15/49		1,715,117
	500,000		Discovery Communications LLC		4.650		05/15/50		570,124
	675,000	g	Discovery Communications LLC		4.000		09/15/55		681,317
	150,000		Fox Corp		3.666		01/25/22		156,350
	500,000		Fox Corp		4.030		01/25/24		550,386
	500,000		Fox Corp		3.050		04/07/25		547,403
	2,250,000		Fox Corp		4.709		01/25/29		2,694,618
	500,000		Fox Corp		3.500		04/08/30		563,493
	1,500,000		Fox Corp		5.476		01/25/39		2,003,344
	650,000		Fox Corp		5.576		01/25/49		898,174
	500,000	g	GE Capital Funding LLC		3.450		05/15/25		535,256
	500,000	g	GE Capital Funding LLC		4.050		05/15/27		538,570
	3,500,000	g	GE Capital Funding LLC		4.400		05/15/30		3,762,150
	3,000,000	g	GE Capital Funding LLC		4.550		05/15/32		3,228,520
	550,000		Grupo Televisa SAB		6.625		03/18/25		662,244
	200,000		Grupo Televisa SAB		4.625		01/30/26		224,723
	1,100,000		Grupo Televisa SAB		5.000		05/13/45		1,241,907
	700,000		Grupo Televisa SAB		6.125		01/31/46		921,221
	500,000		Grupo Televisa SAB		5.250		05/24/49		586,520
	450,000		Interpublic Group of Cos, Inc		3.500		10/01/20		450,000
	450,000		Interpublic Group of Cos, Inc		3.750		10/01/21		464,202
	100,000		Interpublic Group of Cos, Inc		4.000		03/15/22		104,330
	200,000		Interpublic Group of Cos, Inc		4.200		04/15/24		221,871
	350,000		Interpublic Group of Cos, Inc		4.650		10/01/28		413,976
	500,000		Interpublic Group of Cos, Inc		4.750		03/30/30		598,595
	400,000		Interpublic Group of Cos, Inc		5.400		10/01/48		469,972
	445,000		Iowa Health System		3.665		02/15/50		498,362
	135,000		MedStar Health, Inc		3.626		08/15/49		145,605
	1,425,000		NBC Universal Media LLC		4.450		01/15/43		1,794,920
	700,000		Omnicom Group, Inc		3.625		05/01/22		733,078
	425,000		Omnicom Group, Inc		3.650		11/01/24		467,484
	1,050,000		Omnicom Group, Inc		3.600		04/15/26		1,183,589

61

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	750,000		Omnicom Group, Inc		2.450	%	04/30/30	$	773,997
	325,000		Omnicom Group, Inc		4.200		06/01/30		380,221
	750,000		Schlumberger Finance Canada Ltd		1.400		09/17/25		753,915
	500,000		Spectrum Health System Obligated Group		3.487		07/15/49		578,932
	500,000		Tencent Music Entertainment Group		1.375		09/03/25		497,354
	750,000		Tencent Music Entertainment Group		2.000		09/03/30		733,707
	2,000,000		Time Warner Cable LLC		4.000		09/01/21		2,042,844
	1,075,000		Time Warner Cable LLC		6.550		05/01/37		1,427,163
	400,000		Time Warner Cable LLC		7.300		07/01/38		565,314
	500,000		Time Warner Cable LLC		6.750		06/15/39		682,015
	890,000		Time Warner Cable LLC		5.875		11/15/40		1,107,242
	475,000		Time Warner Cable LLC		5.500		09/01/41		574,454
	2,875,000		Time Warner Cable LLC		4.500		09/15/42		3,117,424
	325,000		Time Warner Entertainment Co LP		8.375		03/15/23		381,916
	300,000		Time Warner Entertainment Co LP		8.375		07/15/33		459,147
	200,000		Toledo Hospital		5.325		11/15/28		225,138
	450,000		Toledo Hospital		5.750		11/15/38		529,871
	200,000		Toledo Hospital		6.015		11/15/48		230,605
	375,000	g	Upjohn, Inc		1.125		06/22/22		377,858
	1,000,000	g	Upjohn, Inc		1.650		06/22/25		1,023,426
	400,000	g	Upjohn, Inc		2.300		06/22/27		412,815
	375,000	g	Upjohn, Inc		2.700		06/22/30		387,994
	600,000	g	Upjohn, Inc		3.850		06/22/40		645,971
	1,950,000	g	Upjohn, Inc		4.000		06/22/50		2,075,998
	2,248,000		ViacomCBS, Inc		3.875		04/01/24		2,449,754
	200,000		ViacomCBS, Inc		3.700		08/15/24		218,906
	300,000		ViacomCBS, Inc		3.500		01/15/25		328,388
	800,000		ViacomCBS, Inc		4.000		01/15/26		897,868
	650,000		ViacomCBS, Inc		2.900		01/15/27		700,309
	200,000		ViacomCBS, Inc		3.375		02/15/28		220,404
	1,300,000		ViacomCBS, Inc		3.700		06/01/28		1,443,468
	500,000		ViacomCBS, Inc		4.200		06/01/29		577,300
	500,000		ViacomCBS, Inc		7.875		07/30/30		721,413
	500,000		ViacomCBS, Inc		4.950		01/15/31		597,931
	1,500,000		ViacomCBS, Inc		4.200		05/19/32		1,712,203
	150,000		ViacomCBS, Inc		6.875		04/30/36		206,095
	200,000		ViacomCBS, Inc		4.850		07/01/42		224,213
	2,179,000		ViacomCBS, Inc		4.375		03/15/43		2,309,472
	625,000		ViacomCBS, Inc		5.850		09/01/43		783,074
	200,000		ViacomCBS, Inc		4.900		08/15/44		227,187
	800,000		ViacomCBS, Inc		4.600		01/15/45		877,262
	1,000,000		ViacomCBS, Inc		4.950		05/19/50		1,160,116
	850,000		Walt Disney Co		2.550		02/15/22		874,803
	100,000		Walt Disney Co		2.450		03/04/22		102,894
	750,000		Walt Disney Co		1.750		08/30/24		780,659
	875,000		Walt Disney Co		3.150		09/17/25		972,009
	700,000		Walt Disney Co		3.700		10/15/25		793,600
	3,000,000		Walt Disney Co		1.750		01/13/26		3,116,703
	500,000		Walt Disney Co		3.000		02/13/26		553,797
	475,000		Walt Disney Co		1.850		07/30/26		497,888
	1,500,000		Walt Disney Co		2.950		06/15/27		1,658,804
	3,000,000		Walt Disney Co		2.200		01/13/28		3,153,895
	425,000		Walt Disney Co		2.000		09/01/29		439,152

62

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	500,000		Walt Disney Co		3.800	%	03/22/30	$	592,778
	1,000,000		Walt Disney Co		2.650		01/13/31		1,076,531
	229,000		Walt Disney Co		6.400		12/15/35		345,344
	325,000		Walt Disney Co		6.650		11/15/37		487,525
	1,000,000		Walt Disney Co		3.500		05/13/40		1,119,985
	1,425,000		Walt Disney Co		6.150		02/15/41		2,083,833
	100,000		Walt Disney Co		4.375		08/16/41		121,723
	200,000		Walt Disney Co		3.700		12/01/42		223,851
	225,000		Walt Disney Co		5.400		10/01/43		310,885
	1,275,000		Walt Disney Co		4.125		06/01/44		1,534,989
	500,000		Walt Disney Co		4.750		09/15/44		634,318
	300,000		Walt Disney Co		4.950		10/15/45		387,479
	100,000		Walt Disney Co		3.000		07/30/46		102,153
	700,000		Walt Disney Co		4.750		11/15/46		911,532
	1,600,000		Walt Disney Co		2.750		09/01/49		1,540,606
	3,625,000		Walt Disney Co		4.700		03/23/50		4,787,564
	2,000,000		Walt Disney Co		3.600		01/13/51		2,252,110
	1,000,000		Walt Disney Co		3.800		05/13/60		1,155,982
	375,000		Weibo Corp		3.500		07/05/24		394,478
	900,000		Weibo Corp		3.375		07/08/30		914,067
	300,000		WPP Finance 2010		3.625		09/07/22		314,836
	1,500,000		WPP Finance 2010		3.750		09/19/24		1,646,332
			TOTAL MEDIA & ENTERTAINMENT						216,188,517
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 1.7%
	1,200,000		AbbVie, Inc		3.375		11/14/21		1,239,139
	3,000,000	g	AbbVie, Inc		2.150		11/19/21		3,055,984
	3,500,000	g	AbbVie, Inc		3.450		03/15/22		3,625,943
	175,000	g	AbbVie, Inc		3.250		10/01/22		182,983
	625,000		AbbVie, Inc		2.900		11/06/22		655,318
	2,275,000		AbbVie, Inc		3.200		11/06/22		2,395,805
	850,000		AbbVie, Inc		2.850		05/14/23		894,096
	1,850,000		AbbVie, Inc		3.750		11/14/23		2,018,582
	2,350,000	g	AbbVie, Inc		3.800		03/15/25		2,607,644
	1,575,000		AbbVie, Inc		3.600		05/14/25		1,745,333
	4,150,000		AbbVie, Inc		3.200		05/14/26		4,574,486
	1,000,000	g	AbbVie, Inc		2.950		11/21/26		1,089,330
	675,000		AbbVie, Inc		4.250		11/14/28		802,073
	3,750,000	g	AbbVie, Inc		3.200		11/21/29		4,123,260
	2,250,000	g	AbbVie, Inc		4.550		03/15/35		2,750,146
	1,925,000		AbbVie, Inc		4.500		05/14/35		2,332,520
	675,000		AbbVie, Inc		4.300		05/14/36		795,157
	3,300,000	g	AbbVie, Inc		4.050		11/21/39		3,768,921
	2,175,000		AbbVie, Inc		4.400		11/06/42		2,584,267
	125,000	g	AbbVie, Inc		4.850		06/15/44		153,216
	1,310,000	g	AbbVie, Inc		4.750		03/15/45		1,579,771
	925,000		AbbVie, Inc		4.700		05/14/45		1,134,992
	1,350,000		AbbVie, Inc		4.450		05/14/46		1,604,428
	1,150,000		AbbVie, Inc		4.875		11/14/48		1,457,714
	4,975,000	g	AbbVie, Inc		4.250		11/21/49		5,876,228
	100,000		Agilent Technologies, Inc		3.200		10/01/22		104,658
	400,000		Agilent Technologies, Inc		3.875		07/15/23		433,096
	200,000		Agilent Technologies, Inc		3.050		09/22/26		219,773

63

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	500,000		Agilent Technologies, Inc		2.750	%	09/15/29	$	539,282
	1,000,000		Agilent Technologies, Inc		2.100		06/04/30		1,024,604
	1,175,000		Amgen, Inc		3.625		05/15/22		1,226,988
	2,475,000		Amgen, Inc		2.250		08/19/23		2,582,811
	950,000		Amgen, Inc		3.625		05/22/24		1,044,248
	775,000		Amgen, Inc		3.125		05/01/25		849,963
	1,225,000		Amgen, Inc		2.600		08/19/26		1,329,875
	1,250,000		Amgen, Inc		2.200		02/21/27		1,318,632
	775,000		Amgen, Inc		3.200		11/02/27		867,227
	1,000,000		Amgen, Inc		2.450		02/21/30		1,059,221
	500,000		Amgen, Inc		2.300		02/25/31		523,978
	1,325,000		Amgen, Inc		3.150		02/21/40		1,405,873
	126,000		Amgen, Inc		5.150		11/15/41		167,264
	2,675,000		Amgen, Inc		4.400		05/01/45		3,315,893
	2,128,000		Amgen, Inc		4.563		06/15/48		2,724,109
	1,575,000		Amgen, Inc		3.375		02/21/50		1,701,076
	2,447,000		Amgen, Inc		4.663		06/15/51		3,188,634
	172,000	g	Amgen, Inc		2.770		09/01/53		165,649
	725,000		AstraZeneca plc		2.375		06/12/22		747,697
	475,000		AstraZeneca plc		3.500		08/17/23		513,470
	350,000		AstraZeneca plc		3.375		11/16/25		391,844
	1,000,000		AstraZeneca plc		0.700		04/08/26		980,561
	950,000		AstraZeneca plc		3.125		06/12/27		1,053,463
	1,700,000		AstraZeneca plc		4.000		01/17/29		2,003,497
	1,000,000		AstraZeneca plc		1.375		08/06/30		972,717
	1,900,000		AstraZeneca plc		6.450		09/15/37		2,874,525
	625,000		AstraZeneca plc		4.000		09/18/42		762,609
	500,000		AstraZeneca plc		4.375		11/16/45		647,164
	750,000		AstraZeneca plc		4.375		08/17/48		980,230
	100,000		AstraZeneca plc		2.125		08/06/50		90,637
	449,000		Baxalta, Inc		4.000		06/23/25		510,275
	149,000		Baxalta, Inc		5.250		06/23/45		202,662
	650,000		Biogen, Inc		3.625		09/15/22		689,611
	875,000		Biogen, Inc		4.050		09/15/25		998,456
	300,000		Biogen, Inc		2.250		05/01/30		305,982
	1,200,000		Biogen, Inc		5.200		09/15/45		1,582,405
	1,375,000		Biogen, Inc		3.150		05/01/50		1,353,587
	2,000,000		Bristol-Myers Squibb Co		2.600		05/16/22		2,074,774
	200,000		Bristol-Myers Squibb Co		2.000		08/01/22		206,154
	550,000		Bristol-Myers Squibb Co		3.250		08/15/22		579,413
	600,000		Bristol-Myers Squibb Co		2.750		02/15/23		630,780
	1,750,000		Bristol-Myers Squibb Co		3.250		02/20/23		1,861,182
	200,000		Bristol-Myers Squibb Co		3.250		11/01/23		215,027
	275,000		Bristol-Myers Squibb Co		3.625		05/15/24		303,004
	5,350,000		Bristol-Myers Squibb Co		2.900		07/26/24		5,797,159
	600,000		Bristol-Myers Squibb Co		3.875		08/15/25		684,918
	500,000		Bristol-Myers Squibb Co		3.250		02/27/27		571,772
	1,275,000		Bristol-Myers Squibb Co		3.900		02/20/28		1,510,613
	2,825,000		Bristol-Myers Squibb Co		3.400		07/26/29		3,282,292
	700,000		Bristol-Myers Squibb Co		4.125		06/15/39		879,485
	650,000		Bristol-Myers Squibb Co		3.250		08/01/42		745,222
	300,000		Bristol-Myers Squibb Co		5.250		08/15/43		423,296
	200,000		Bristol-Myers Squibb Co		4.500		03/01/44		279,001

64

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	2,200,000	Bristol-Myers Squibb Co		5.000	%	08/15/45	$	3,071,506
	500,000	Bristol-Myers Squibb Co		4.350		11/15/47		659,909
	2,300,000	Bristol-Myers Squibb Co		4.550		02/20/48		3,107,018
	2,400,000	Bristol-Myers Squibb Co		4.250		10/26/49		3,151,933
	175,000	Eli Lilly & Co		2.350		05/15/22		180,467
	975,000	Eli Lilly & Co		2.750		06/01/25		1,065,564
	950,000	Eli Lilly & Co		3.100		05/15/27		1,065,791
	650,000	Eli Lilly & Co		3.875		03/15/39		797,028
	550,000	Eli Lilly & Co		3.700		03/01/45		664,563
	1,025,000	Eli Lilly & Co		3.950		03/15/49		1,281,878
	1,300,000	Eli Lilly & Co		2.250		05/15/50		1,225,202
	875,000	Eli Lilly & Co		4.150		03/15/59		1,129,905
	750,000	Eli Lilly & Co		2.500		09/15/60		706,087
	1,150,000	Gilead Sciences, Inc		4.400		12/01/21		1,192,579
	200,000	Gilead Sciences, Inc		1.950		03/01/22		204,384
	700,000	Gilead Sciences, Inc		3.250		09/01/22		733,964
	500,000	Gilead Sciences, Inc		2.500		09/01/23		526,008
	850,000	Gilead Sciences, Inc		0.750		09/29/23		851,730
	800,000	Gilead Sciences, Inc		3.700		04/01/24		875,824
	575,000	Gilead Sciences, Inc		3.500		02/01/25		635,501
	1,125,000	Gilead Sciences, Inc		3.650		03/01/26		1,270,258
	525,000	Gilead Sciences, Inc		2.950		03/01/27		577,356
	325,000	Gilead Sciences, Inc		1.200		10/01/27		325,526
	815,000	Gilead Sciences, Inc		1.650		10/01/30		813,391
	450,000	Gilead Sciences, Inc		4.600		09/01/35		577,971
	1,300,000	Gilead Sciences, Inc		4.000		09/01/36		1,572,304
	325,000	Gilead Sciences, Inc		2.600		10/01/40		324,260
	250,000	Gilead Sciences, Inc		5.650		12/01/41		354,125
	1,025,000	Gilead Sciences, Inc		4.800		04/01/44		1,317,592
	950,000	Gilead Sciences, Inc		4.500		02/01/45		1,186,042
	925,000	Gilead Sciences, Inc		4.750		03/01/46		1,195,981
	1,525,000	Gilead Sciences, Inc		4.150		03/01/47		1,860,501
	2,600,000	Gilead Sciences, Inc		2.800		10/01/50		2,564,669
	1,193,000	GlaxoSmithKline Capital plc		2.850		05/08/22		1,241,142
	500,000	GlaxoSmithKline Capital plc		2.875		06/01/22		519,538
	1,550,000	GlaxoSmithKline Capital plc		0.534		10/01/23		1,551,146
	1,400,000	GlaxoSmithKline Capital plc		3.375		06/01/29		1,615,497
	900,000	GlaxoSmithKline Capital, Inc		2.800		03/18/23		953,461
	950,000	GlaxoSmithKline Capital, Inc		3.625		05/15/25		1,078,769
	925,000	GlaxoSmithKline Capital, Inc		3.875		05/15/28		1,099,642
	350,000	GlaxoSmithKline Capital, Inc		5.375		04/15/34		493,570
	1,243,000	GlaxoSmithKline Capital, Inc		6.375		05/15/38		1,914,398
	850,000	GlaxoSmithKline Capital, Inc		4.200		03/18/43		1,088,698
	200,000	Johnson & Johnson		2.450		12/05/21		205,380
	300,000	Johnson & Johnson		2.050		03/01/23		311,665
	950,000	Johnson & Johnson		3.375		12/05/23		1,041,476
	2,000,000	Johnson & Johnson		0.550		09/01/25		2,001,267
	1,000,000	Johnson & Johnson		2.450		03/01/26		1,091,900
	2,000,000	Johnson & Johnson		0.950		09/01/27		2,001,289
	2,000,000	Johnson & Johnson		1.300		09/01/30		2,018,699
	1,000,000	Johnson & Johnson		4.375		12/05/33		1,321,350
	250,000	Johnson & Johnson		3.550		03/01/36		302,430
	450,000	Johnson & Johnson		3.625		03/03/37		544,748
	250,000	Johnson & Johnson		5.950		08/15/37		381,440

65

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	675,000	Johnson & Johnson		3.400	%	01/15/38	$	788,827
	375,000	Johnson & Johnson		5.850		07/15/38		578,056
	1,000,000	Johnson & Johnson		2.100		09/01/40		994,989
	300,000	Johnson & Johnson		4.500		12/05/43		410,859
	1,200,000	Johnson & Johnson		3.700		03/01/46		1,501,056
	1,625,000	Johnson & Johnson		3.750		03/03/47		2,075,482
	2,100,000	Johnson & Johnson		3.500		01/15/48		2,593,958
	500,000	Johnson & Johnson		2.250		09/01/50		493,335
	1,000,000	Johnson & Johnson		2.450		09/01/60		998,797
	750,000	Merck & Co, Inc		2.350		02/10/22		772,321
	200,000	Merck & Co, Inc		2.400		09/15/22		207,450
	1,300,000	Merck & Co, Inc		2.800		05/18/23		1,386,001
	1,450,000	Merck & Co, Inc		2.750		02/10/25		1,576,573
	2,875,000	Merck & Co, Inc		0.750		02/24/26		2,883,778
	1,675,000	Merck & Co, Inc		1.450		06/24/30		1,698,264
	1,475,000	Merck & Co, Inc		3.900		03/07/39		1,827,646
	425,000	Merck & Co, Inc		2.350		06/24/40		431,302
	100,000	Merck & Co, Inc		3.600		09/15/42		122,155
	925,000	Merck & Co, Inc		4.150		05/18/43		1,174,565
	1,825,000	Merck & Co, Inc		3.700		02/10/45		2,185,617
	1,600,000	Merck & Co, Inc		4.000		03/07/49		2,015,187
	375,000	Merck & Co, Inc		2.450		06/24/50		373,003
	10,000	Mylan NV		3.750		12/15/20		10,044
	1,175,000	Mylan NV		3.150		06/15/21		1,193,917
	2,800,000	Mylan NV		3.950		06/15/26		3,145,595
	750,000	Mylan NV		5.250		06/15/46		929,033
	500,000	Mylan, Inc		4.550		04/15/28		582,152
	700,000	Mylan, Inc		5.200		04/15/48		866,177
	725,000	Novartis Capital Corp		2.400		09/21/22		755,850
	2,300,000	Novartis Capital Corp		3.400		05/06/24		2,536,719
	725,000	Novartis Capital Corp		3.000		11/20/25		806,421
	1,000,000	Novartis Capital Corp		2.000		02/14/27		1,059,707
	1,300,000	Novartis Capital Corp		3.100		05/17/27		1,455,880
	1,000,000	Novartis Capital Corp		2.200		08/14/30		1,071,807
	400,000	Novartis Capital Corp		3.700		09/21/42		489,587
	1,025,000	Novartis Capital Corp		4.400		05/06/44		1,379,978
	1,000,000	Novartis Capital Corp		4.000		11/20/45		1,285,129
	750,000	Novartis Capital Corp		2.750		08/14/50		803,381
	500,000	PerkinElmer, Inc		3.300		09/15/29		554,887
	100,000	Perrigo Co plc		4.000		11/15/23		104,902
	100,000	Perrigo Co plc		5.300		11/15/43		107,633
	200,000	Perrigo Finance Unlimited Co		3.900		12/15/24		216,284
	200,000	Perrigo Finance Unlimited Co		4.375		03/15/26		223,461
	200,000	Perrigo Finance Unlimited Co		3.150		06/15/30		207,262
	221,000	Perrigo Finance Unlimited Co		4.900		12/15/44		232,279
	500,000	Pfizer, Inc		3.000		09/15/21		513,130
	200,000	Pfizer, Inc		2.200		12/15/21		204,625
	1,075,000	Pfizer, Inc		3.000		06/15/23		1,150,809
	1,175,000	Pfizer, Inc		3.400		05/15/24		1,290,423
	3,000,000	Pfizer, Inc		0.800		05/28/25		3,014,245
	350,000	Pfizer, Inc		2.750		06/03/26		387,608
	2,850,000	Pfizer, Inc		3.000		12/15/26		3,220,790
	950,000	Pfizer, Inc		3.600		09/15/28		1,120,299

66

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	1,550,000		Pfizer, Inc		3.450	%	03/15/29	$	1,812,821
	425,000		Pfizer, Inc		4.000		12/15/36		519,720
	500,000		Pfizer, Inc		4.100		09/15/38		618,433
	875,000		Pfizer, Inc		3.900		03/15/39		1,060,867
	350,000		Pfizer, Inc		7.200		03/15/39		579,482
	250,000		Pfizer, Inc		2.550		05/28/40		257,905
	625,000		Pfizer, Inc		4.300		06/15/43		800,626
	1,100,000		Pfizer, Inc		4.400		05/15/44		1,445,798
	1,875,000		Pfizer, Inc		4.125		12/15/46		2,391,604
	1,200,000		Pfizer, Inc		4.200		09/15/48		1,541,267
	2,100,000		Pfizer, Inc		4.000		03/15/49		2,664,634
	500,000		Pfizer, Inc		2.700		05/28/50		520,546
	1,000,000		Regeneron Pharmaceuticals, Inc		1.750		09/15/30		973,636
	500,000		Regeneron Pharmaceuticals, Inc		2.800		09/15/50		465,337
	1,000,000	g	Royalty Pharma plc		0.750		09/02/23		997,270
	1,000,000	g	Royalty Pharma plc		1.200		09/02/25		996,835
	1,000,000	g	Royalty Pharma plc		1.750		09/02/27		999,130
	375,000	g	Royalty Pharma plc		2.200		09/02/30		372,808
	1,000,000	g	Royalty Pharma plc		3.300		09/02/40		979,745
	1,000,000	g	Royalty Pharma plc		3.550		09/02/50		964,992
	1,750,000		Sanofi		3.375		06/19/23		1,892,264
	500,000		Sanofi		3.625		06/19/28		585,838
	825,000		Takeda Pharmaceutical Co Ltd		4.000		11/26/21		855,481
	1,000,000		Takeda Pharmaceutical Co Ltd		4.400		11/26/23		1,111,002
	2,100,000		Takeda Pharmaceutical Co Ltd		5.000		11/26/28		2,605,536
	700,000		Takeda Pharmaceutical Co Ltd		2.050		03/31/30		708,942
	2,050,000		Takeda Pharmaceutical Co Ltd		3.025		07/09/40		2,117,461
	650,000		Takeda Pharmaceutical Co Ltd		3.175		07/09/50		665,341
	1,000,000		Takeda Pharmaceutical Co Ltd		3.375		07/09/60		1,029,318
	1,300,000		Thermo Fisher Scientific, Inc		3.000		04/15/23		1,374,923
	850,000		Thermo Fisher Scientific, Inc		4.150		02/01/24		937,410
	150,000		Thermo Fisher Scientific, Inc		3.650		12/15/25		169,067
	975,000		Thermo Fisher Scientific, Inc		2.950		09/19/26		1,085,116
	2,150,000		Thermo Fisher Scientific, Inc		3.200		08/15/27		2,419,057
	1,500,000		Thermo Fisher Scientific, Inc		2.600		10/01/29		1,634,101
	200,000		Thermo Fisher Scientific, Inc		5.300		02/01/44		277,832
	200,000		Thermo Fisher Scientific, Inc		4.100		08/15/47		255,073
	1,000,000		Wyeth LLC		6.450		02/01/24		1,190,782
	150,000		Wyeth LLC		6.500		02/01/34		232,626
	275,000		Wyeth LLC		5.950		04/01/37		406,397
	100,000		Zoetis, Inc		3.450		11/13/20		100,093
	500,000		Zoetis, Inc		3.250		08/20/21		512,281
	1,000,000		Zoetis, Inc		3.250		02/01/23		1,055,063
	300,000		Zoetis, Inc		4.500		11/13/25		350,859
	425,000		Zoetis, Inc		3.000		09/12/27		469,619
	500,000		Zoetis, Inc		3.900		08/20/28		593,209
	900,000		Zoetis, Inc		4.700		02/01/43		1,182,849
	650,000		Zoetis, Inc		3.950		09/12/47		799,192
	200,000		Zoetis, Inc		4.450		08/20/48		262,003
	375,000		Zoetis, Inc		3.000		05/15/50		400,861
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						282,642,283

67

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
REAL ESTATE - 1.1%
$	1,250,000	Alexandria Real Estate Equities, Inc		4.000	%	01/15/24	$	1,374,486
	100,000	Alexandria Real Estate Equities, Inc		3.450		04/30/25		111,535
	200,000	Alexandria Real Estate Equities, Inc		4.300		01/15/26		230,951
	500,000	Alexandria Real Estate Equities, Inc		3.800		04/15/26		573,212
	200,000	Alexandria Real Estate Equities, Inc		4.500		07/30/29		240,737
	425,000	Alexandria Real Estate Equities, Inc		2.750		12/15/29		461,964
	100,000	Alexandria Real Estate Equities, Inc		4.700		07/01/30		123,292
	275,000	Alexandria Real Estate Equities, Inc		3.375		08/15/31		310,079
	450,000	Alexandria Real Estate Equities, Inc		1.875		02/01/33		439,116
	500,000	Alexandria Real Estate Equities, Inc		4.850		04/15/49		668,950
	700,000	Alexandria Real Estate Equities, Inc		4.000		02/01/50		836,159
	100,000	American Campus Communities Operating Partnership LP		3.750		04/15/23		105,166
	500,000	American Campus Communities Operating Partnership LP		3.300		07/15/26		535,023
	200,000	American Campus Communities Operating Partnership LP		3.625		11/15/27		212,843
	500,000	American Campus Communities Operating Partnership LP		2.850		02/01/30		506,093
	500,000	American Homes 4 Rent LP		4.900		02/15/29		595,961
	725,000	American Tower Corp		2.250		01/15/22		741,598
	200,000	American Tower Corp		4.700		03/15/22		211,948
	800,000	American Tower Corp		3.500		01/31/23		850,276
	450,000	American Tower Corp		5.000		02/15/24		508,770
	350,000	American Tower Corp		3.375		05/15/24		378,900
	750,000	American Tower Corp		2.400		03/15/25		793,872
	525,000	American Tower Corp		4.000		06/01/25		590,481
	1,350,000	American Tower Corp		1.300		09/15/25		1,364,069
	200,000	American Tower Corp		4.400		02/15/26		228,136
	425,000	American Tower Corp		3.375		10/15/26		470,523
	750,000	American Tower Corp		2.750		01/15/27		808,634
	500,000	American Tower Corp		3.125		01/15/27		545,796
	150,000	American Tower Corp		3.550		07/15/27		167,839
	500,000	American Tower Corp		3.600		01/15/28		560,572
	350,000	American Tower Corp		3.950		03/15/29		402,716
	750,000	American Tower Corp		2.900		01/15/30		809,522
	750,000	American Tower Corp		2.100		06/15/30		757,271
	725,000	American Tower Corp		1.875		10/15/30		714,033
	1,350,000	American Tower Corp		3.700		10/15/49		1,476,663
	425,000	American Tower Corp		3.100		06/15/50		419,309
	225,000	AvalonBay Communities, Inc		2.950		09/15/22		233,944
	200,000	AvalonBay Communities, Inc		3.500		11/15/24		220,400
	200,000	AvalonBay Communities, Inc		2.950		05/11/26		221,421
	100,000	AvalonBay Communities, Inc		2.900		10/15/26		109,663
	1,200,000	AvalonBay Communities, Inc		3.350		05/15/27		1,338,025
	200,000	AvalonBay Communities, Inc		3.200		01/15/28		222,423
	750,000	AvalonBay Communities, Inc		3.300		06/01/29		852,232
	750,000	AvalonBay Communities, Inc		2.300		03/01/30		797,431
	400,000	AvalonBay Communities, Inc		4.150		07/01/47		502,554
	200,000	AvalonBay Communities, Inc		4.350		04/15/48		258,633
	1,175,000	Boston Properties LP		4.125		05/15/21		1,190,373
	275,000	Boston Properties LP		3.850		02/01/23		292,829
	425,000	Boston Properties LP		3.125		09/01/23		449,498
	200,000	Boston Properties LP		3.800		02/01/24		216,586

68

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	1,500,000	Boston Properties LP		3.200	%	01/15/25	$	1,624,140
	275,000	Boston Properties LP		3.650		02/01/26		305,570
	700,000	Boston Properties LP		2.750		10/01/26		749,825
	550,000	Boston Properties LP		4.500		12/01/28		647,888
	550,000	Boston Properties LP		3.400		06/21/29		598,016
	750,000	Boston Properties LP		2.900		03/15/30		782,255
	500,000	Boston Properties LP		3.250		01/30/31		538,508
	100,000	Brandywine Operating Partnership LP		3.950		02/15/23		103,423
	500,000	Brandywine Operating Partnership LP		4.100		10/01/24		526,176
	100,000	Brandywine Operating Partnership LP		3.950		11/15/27		103,744
	500,000	Brandywine Operating Partnership LP		4.550		10/01/29		530,180
	350,000	Brixmor Operating Partnership LP		3.250		09/15/23		362,315
	900,000	Brixmor Operating Partnership LP		3.650		06/15/24		947,016
	200,000	Brixmor Operating Partnership LP		3.850		02/01/25		214,119
	225,000	Brixmor Operating Partnership LP		4.125		06/15/26		244,943
	300,000	Brixmor Operating Partnership LP		3.900		03/15/27		317,313
	600,000	Brixmor Operating Partnership LP		4.125		05/15/29		650,552
	940,000	Brixmor Operating Partnership LP		4.050		07/01/30		1,008,480
	200,000	Camden Property Trust		2.950		12/15/22		208,422
	100,000	Camden Property Trust		4.100		10/15/28		117,629
	325,000	Camden Property Trust		3.150		07/01/29		360,354
	100,000	Camden Property Trust		2.800		05/15/30		108,684
	500,000	Camden Property Trust		3.350		11/01/49		552,632
	500,000	CBRE Services, Inc		4.875		03/01/26		585,653
	1,225,000	CC Holdings GS V LLC		3.849		04/15/23		1,319,194
	400,000	Columbia Property Trust Operating Partnership LP		3.650		08/15/26		409,550
	300,000	Corporate Office Properties LP		5.000		07/01/25		338,155
	1,000,000	Corporate Office Properties LP		2.250		03/15/26		1,011,219
	200,000	Crown Castle International Corp		5.250		01/15/23		219,753
	1,375,000	Crown Castle International Corp		3.150		07/15/23		1,461,427
	500,000	Crown Castle International Corp		3.200		09/01/24		539,147
	1,000,000	Crown Castle International Corp		1.350		07/15/25		1,010,633
	975,000	Crown Castle International Corp		4.450		02/15/26		1,116,814
	250,000	Crown Castle International Corp		3.700		06/15/26		278,766
	100,000	Crown Castle International Corp		4.000		03/01/27		113,530
	525,000	Crown Castle International Corp		3.650		09/01/27		587,174
	775,000	Crown Castle International Corp		3.800		02/15/28		877,515
	300,000	Crown Castle International Corp		4.300		02/15/29		349,689
	500,000	Crown Castle International Corp		3.100		11/15/29		540,980
	275,000	Crown Castle International Corp		3.300		07/01/30		300,275
	1,050,000	Crown Castle International Corp		2.250		01/15/31		1,057,737
	200,000	Crown Castle International Corp		4.750		05/15/47		246,694
	300,000	Crown Castle International Corp		5.200		02/15/49		394,243
	500,000	Crown Castle International Corp		4.000		11/15/49		558,953
	200,000	Crown Castle International Corp		4.150		07/01/50		228,088
	875,000	Crown Castle International Corp		3.250		01/15/51		868,089
	100,000	CubeSmart LP		4.375		12/15/23		109,875
	200,000	CubeSmart LP		3.125		09/01/26		216,603
	100,000	CubeSmart LP		4.375		02/15/29		117,263
	250,000	CubeSmart LP		3.000		02/15/30		268,179
	450,000	CubeSmart LP		2.000		02/15/31		443,671
	250,000	CyrusOne LP		2.900		11/15/24		265,015
	750,000	CyrusOne LP		3.450		11/15/29		812,677
	150,000	DDR Corp		4.250		02/01/26		160,569

69

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	800,000		Digital Realty Trust LP		2.750	%	02/01/23	$	836,730
	200,000		Digital Realty Trust LP		4.750		10/01/25		233,910
	475,000		Digital Realty Trust LP		3.700		08/15/27		534,359
	300,000		Digital Realty Trust LP		4.450		07/15/28		357,129
	1,000,000		Digital Realty Trust LP		3.600		07/01/29		1,146,583
	100,000		Duke Realty LP		3.750		12/01/24		110,639
	100,000		Duke Realty LP		3.250		06/30/26		110,857
	1,000,000		Duke Realty LP		3.375		12/15/27		1,125,078
	100,000		Duke Realty LP		4.000		09/15/28		116,575
	225,000		Duke Realty LP		2.875		11/15/29		245,281
	200,000		Duke Realty LP		1.750		07/01/30		198,937
	500,000		Duke Realty LP		3.050		03/01/50		525,824
	700,000		EPR Properties		4.750		12/15/26		669,848
	200,000		EPR Properties		4.500		06/01/27		184,319
	1,000,000		EPR Properties		3.750		08/15/29		871,821
	1,000,000		Equinix, Inc		2.625		11/18/24		1,063,062
	1,000,000		Equinix, Inc		1.250		07/15/25		1,006,634
	525,000	h	Equinix, Inc		1.000		09/15/25		520,082
	650,000		Equinix, Inc		2.900		11/18/26		700,862
	200,000		Equinix, Inc		1.800		07/15/27		201,754
	800,000	h	Equinix, Inc		1.550		03/15/28		799,213
	1,000,000	h	Equinix, Inc		3.200		11/18/29		1,101,696
	175,000		Equinix, Inc		2.150		07/15/30		177,158
	500,000		Equinix, Inc		3.000		07/15/50		495,822
	1,000,000		Equinix, Inc		2.950		09/15/51		973,011
	200,000		ERP Operating LP		4.625		12/15/21		207,860
	700,000		ERP Operating LP		3.375		06/01/25		774,590
	200,000		ERP Operating LP		2.850		11/01/26		221,166
	1,150,000		ERP Operating LP		3.250		08/01/27		1,279,286
	500,000		ERP Operating LP		3.500		03/01/28		564,462
	200,000		ERP Operating LP		4.150		12/01/28		237,157
	750,000		ERP Operating LP		3.000		07/01/29		825,797
	300,000		ERP Operating LP		2.500		02/15/30		318,351
	425,000		ERP Operating LP		4.500		07/01/44		544,341
	100,000		ERP Operating LP		4.000		08/01/47		121,434
	100,000		Essex Portfolio LP		3.250		05/01/23		105,273
	400,000		Essex Portfolio LP		3.500		04/01/25		439,307
	100,000		Essex Portfolio LP		3.375		04/15/26		111,046
	200,000		Essex Portfolio LP		3.625		05/01/27		223,298
	900,000		Essex Portfolio LP		4.000		03/01/29		1,041,565
	325,000		Essex Portfolio LP		3.000		01/15/30		349,056
	750,000		Essex Portfolio LP		1.650		01/15/31		730,212
	500,000		Essex Portfolio LP		2.650		03/15/32		527,581
	300,000		Essex Portfolio LP		4.500		03/15/48		382,216
	500,000		Federal Realty Investment Trust		3.950		01/15/24		541,523
	250,000		Federal Realty Investment Trust		3.250		07/15/27		265,340
	1,300,000		Federal Realty Investment Trust		3.200		06/15/29		1,384,362
	300,000		Federal Realty Investment Trust		3.500		06/01/30		324,345
	200,000		Federal Realty Investment Trust		4.500		12/01/44		227,656
	250,000		GLP Capital LP		3.350		09/01/24		253,578
	1,300,000		GLP Capital LP		5.250		06/01/25		1,411,566
	150,000		GLP Capital LP		5.375		04/15/26		166,245
	750,000		GLP Capital LP		5.750		06/01/28		856,267

70

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	200,000		GLP Capital LP		5.300	%	01/15/29	$	222,734
	500,000		GLP Capital LP		4.000		01/15/30		517,470
	500,000		GLP Capital LP		4.000		01/15/31		520,515
	100,000		Healthcare Realty Trust, Inc		3.625		01/15/28		109,545
	100,000		Healthcare Realty Trust, Inc		2.400		03/15/30		101,293
	175,000	h	Healthcare Realty Trust, Inc		2.050		03/15/31		172,654
	800,000		Healthcare Trust of America Holdings LP		3.500		08/01/26		890,306
	500,000		Healthcare Trust of America Holdings LP		3.100		02/15/30		537,548
	975,000		Healthcare Trust of America Holdings LP		2.000		03/15/31		954,443
	200,000		Healthpeak Properties, Inc		4.200		03/01/24		220,170
	1,750,000		Healthpeak Properties, Inc		3.875		08/15/24		1,939,734
	250,000		Healthpeak Properties, Inc		4.000		06/01/25		281,106
	100,000		Healthpeak Properties, Inc		3.250		07/15/26		111,609
	600,000		Healthpeak Properties, Inc		3.500		07/15/29		667,837
	1,000,000		Healthpeak Properties, Inc		3.000		01/15/30		1,079,197
	175,000		Healthpeak Properties, Inc		2.875		01/15/31		185,253
	30,000		Healthpeak Properties, Inc		6.750		02/01/41		42,676
	100,000		Highwoods Realty LP		3.875		03/01/27		108,429
	150,000		Highwoods Realty LP		4.125		03/15/28		165,405
	250,000		Highwoods Realty LP		4.200		04/15/29		280,528
	500,000		Highwoods Realty LP		3.050		02/15/30		516,638
	775,000		Highwoods Realty LP		2.600		02/01/31		768,179
	600,000		Host Hotels & Resorts LP		3.750		10/15/23		618,963
	700,000		Host Hotels & Resorts LP		3.875		04/01/24		725,645
	200,000		Host Hotels & Resorts LP		4.000		06/15/25		207,624
	100,000		Host Hotels & Resorts LP		4.500		02/01/26		105,865
	500,000		Host Hotels & Resorts LP		3.375		12/15/29		467,250
	850,000		Host Hotels & Resorts LP		3.500		09/15/30		815,204
	100,000		Hudson Pacific Properties LP		3.950		11/01/27		107,520
	100,000		Hudson Pacific Properties LP		4.650		04/01/29		114,104
	750,000		Hudson Pacific Properties LP		3.250		01/15/30		776,299
	250,000		Kilroy Realty LP		3.800		01/15/23		260,173
	125,000		Kilroy Realty LP		3.450		12/15/24		131,878
	250,000		Kilroy Realty LP		4.750		12/15/28		290,033
	200,000		Kilroy Realty LP		4.250		08/15/29		226,493
	750,000		Kilroy Realty LP		3.050		02/15/30		784,718
	500,000		Kilroy Realty LP		2.500		11/15/32		486,434
	100,000		Kimco Realty Corp		3.400		11/01/22		105,256
	300,000		Kimco Realty Corp		3.125		06/01/23		315,780
	200,000		Kimco Realty Corp		2.700		03/01/24		209,401
	1,175,000		Kimco Realty Corp		3.300		02/01/25		1,272,867
	625,000		Kimco Realty Corp		2.800		10/01/26		668,056
	200,000		Kimco Realty Corp		3.800		04/01/27		218,108
	500,000		Kimco Realty Corp		1.900		03/01/28		493,399
	750,000		Kimco Realty Corp		2.700		10/01/30		761,193
	200,000		Kimco Realty Corp		4.250		04/01/45		211,858
	175,000		Kimco Realty Corp		4.125		12/01/46		182,819
	100,000		Kimco Realty Corp		4.450		09/01/47		108,513
	500,000		Kimco Realty Corp		3.700		10/01/49		489,661
	750,000		Lexington Realty Trust		2.700		09/15/30		764,043
	200,000		Life Storage LP		3.875		12/15/27		223,668
	500,000		Life Storage LP		4.000		06/15/29		567,505
	100,000		Life Storage LP		2.200		10/15/30		99,819
	200,000		Mid-America Apartments LP		4.300		10/15/23		218,497

71

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	100,000	Mid-America Apartments LP		4.000	%	11/15/25	$	112,870
	750,000	Mid-America Apartments LP		3.600		06/01/27		835,475
	200,000	Mid-America Apartments LP		4.200		06/15/28		232,253
	625,000	Mid-America Apartments LP		3.950		03/15/29		723,231
	175,000	Mid-America Apartments LP		2.750		03/15/30		188,542
	250,000	Mid-America Apartments LP		1.700		02/15/31		245,963
	1,550,000	National Retail Properties, Inc		3.500		10/15/27		1,650,642
	300,000	National Retail Properties, Inc		2.500		04/15/30		299,150
	500,000	National Retail Properties, Inc		3.100		04/15/50		445,665
	1,200,000	Omega Healthcare Investors, Inc		4.375		08/01/23		1,286,604
	200,000	Omega Healthcare Investors, Inc		4.500		04/01/27		214,825
	825,000	Omega Healthcare Investors, Inc		4.750		01/15/28		904,336
	500,000	Omega Healthcare Investors, Inc		3.625		10/01/29		506,337
	200,000	Physicians Realty LP		4.300		03/15/27		209,691
	200,000	Physicians Realty LP		3.950		01/15/28		208,260
	200,000	Piedmont Operating Partnership LP		3.400		06/01/23		207,095
	200,000	Piedmont Operating Partnership LP		4.450		03/15/24		212,015
	700,000	ProLogis LP		3.750		11/01/25		798,610
	100,000	ProLogis LP		3.250		10/01/26		113,036
	500,000	ProLogis LP		2.125		04/15/27		532,087
	1,200,000	ProLogis LP		3.875		09/15/28		1,415,578
	100,000	ProLogis LP		4.375		02/01/29		122,417
	500,000	ProLogis LP		2.250		04/15/30		530,639
	1,000,000	ProLogis LP		1.250		10/15/30		975,190
	100,000	ProLogis LP		4.375		09/15/48		134,769
	500,000	ProLogis LP		3.000		04/15/50		534,289
	500,000	ProLogis LP		2.125		10/15/50		448,985
	200,000	Public Storage		2.370		09/15/22		206,907
	200,000	Public Storage		3.094		09/15/27		224,259
	500,000	Public Storage		3.385		05/01/29		576,111
	200,000	Rayonier, Inc		3.750		04/01/22		205,793
	850,000	Realty Income Corp		3.250		10/15/22		891,533
	500,000	Realty Income Corp		4.650		08/01/23		553,129
	200,000	Realty Income Corp		3.875		04/15/25		226,536
	200,000	Realty Income Corp		4.125		10/15/26		232,059
	200,000	Realty Income Corp		3.000		01/15/27		217,649
	1,000,000	Realty Income Corp		3.650		01/15/28		1,129,980
	500,000	Realty Income Corp		3.250		06/15/29		552,659
	1,500,000	Realty Income Corp		3.250		01/15/31		1,653,176
	300,000	Realty Income Corp		4.650		03/15/47		392,957
	375,000	Regency Centers LP		3.600		02/01/27		405,610
	125,000	Regency Centers LP		4.125		03/15/28		139,753
	425,000	Regency Centers LP		2.950		09/15/29		440,015
	500,000	Regency Centers LP		3.700		06/15/30		548,483
	200,000	Regency Centers LP		4.400		02/01/47		223,918
	300,000	Regency Centers LP		4.650		03/15/49		349,409
	350,000	Retail Properties of America, Inc		4.750		09/15/30		350,425
	300,000	Sabra Health Care LP		4.800		06/01/24		315,181
	300,000	Sabra Health Care LP		5.125		08/15/26		324,324
	200,000	Select Income REIT		4.150		02/01/22		201,513
	500,000	Select Income REIT		4.250		05/15/24		499,815
	400,000	Select Income REIT		4.500		02/01/25		404,636
	300,000	Simon Property Group LP		2.500		07/15/21		303,243

72

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	2,850,000	Simon Property Group LP		2.350	%	01/30/22	$	2,900,184
	200,000	Simon Property Group LP		2.625		06/15/22		205,303
	1,300,000	Simon Property Group LP		2.750		06/01/23		1,360,261
	500,000	Simon Property Group LP		2.000		09/13/24		515,377
	450,000	Simon Property Group LP		3.375		10/01/24		486,995
	800,000	Simon Property Group LP		3.500		09/01/25		876,756
	625,000	Simon Property Group LP		3.300		01/15/26		676,945
	350,000	Simon Property Group LP		3.250		11/30/26		381,109
	200,000	Simon Property Group LP		3.375		06/15/27		214,526
	300,000	Simon Property Group LP		3.375		12/01/27		320,693
	1,750,000	Simon Property Group LP		2.450		09/13/29		1,732,780
	750,000	Simon Property Group LP		2.650		07/15/30		753,551
	1,500,000	Simon Property Group LP		4.250		10/01/44		1,624,182
	300,000	Simon Property Group LP		4.250		11/30/46		320,934
	500,000	Simon Property Group LP		3.250		09/13/49		457,497
	750,000	Simon Property Group LP		3.800		07/15/50		758,033
	200,000	SITE Centers Corp		4.700		06/01/27		210,909
	200,000	SL Green Operating Partnership LP		3.250		10/15/22		204,071
	200,000	SL Green Realty Corp		4.500		12/01/22		208,575
	525,000	Sovran Acquisition LP		3.500		07/01/26		582,648
	300,000	Spirit Realty LP		3.200		01/15/27		303,695
	500,000	Spirit Realty LP		4.000		07/15/29		519,788
	300,000	Spirit Realty LP		3.400		01/15/30		298,081
	500,000	Spirit Realty LP		3.200		02/15/31		487,592
	500,000	STORE Capital Corp		4.625		03/15/29		535,849
	100,000	Tanger Properties LP		3.125		09/01/26		95,979
	250,000	Tanger Properties LP		3.875		07/15/27		242,999
	200,000	UDR, Inc		4.000		10/01/25		224,228
	200,000	UDR, Inc		3.500		07/01/27		220,028
	200,000	UDR, Inc		3.500		01/15/28		221,042
	600,000	UDR, Inc		3.200		01/15/30		664,346
	750,000	UDR, Inc		3.000		08/15/31		810,930
	750,000	UDR, Inc		2.100		08/01/32		745,214
	300,000	UDR, Inc		3.100		11/01/34		324,385
	850,000	Ventas Realty LP		3.250		08/15/22		883,692
	200,000	Ventas Realty LP		3.100		01/15/23		207,941
	800,000	Ventas Realty LP		3.125		06/15/23		837,001
	300,000	Ventas Realty LP		3.500		04/15/24		320,613
	750,000	Ventas Realty LP		2.650		01/15/25		783,112
	120,000	Ventas Realty LP		4.125		01/15/26		134,801
	200,000	Ventas Realty LP		3.250		10/15/26		212,262
	1,000,000	Ventas Realty LP		4.000		03/01/28		1,088,519
	525,000	Ventas Realty LP		4.400		01/15/29		596,093
	350,000	Ventas Realty LP		3.000		01/15/30		356,638
	500,000	Ventas Realty LP		4.750		11/15/30		578,088
	300,000	Ventas Realty LP		4.375		02/01/45		309,285
	300,000	Ventas Realty LP		4.875		04/15/49		335,223
	425,000	VEREIT Operating Partnership LP		4.875		06/01/26		473,778
	650,000	VEREIT Operating Partnership LP		3.950		08/15/27		691,945
	1,000,000	VEREIT Operating Partnership LP		3.400		01/15/28		1,041,493
	500,000	VEREIT Operating Partnership LP		3.100		12/15/29		500,555
	200,000	Vornado Realty LP		3.500		01/15/25		208,077
	100,000	Washington REIT		3.950		10/15/22		103,196
	100,000	Weingarten Realty Investors		3.375		10/15/22		102,436

73

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	100,000	Weingarten Realty Investors		3.500	%	04/15/23	$	103,208
	2,000,000	Welltower, Inc		3.625		03/15/24		2,163,021
	1,700,000	Welltower, Inc		4.000		06/01/25		1,900,031
	600,000	Welltower, Inc		4.250		04/01/26		687,166
	500,000	Welltower, Inc		2.700		02/15/27		527,666
	600,000	Welltower, Inc		4.250		04/15/28		679,133
	500,000	Welltower, Inc		4.125		03/15/29		566,240
	425,000	Welltower, Inc		3.100		01/15/30		450,517
	400,000	Welltower, Inc		2.750		01/15/31		410,746
	300,000	Welltower, Inc		4.950		09/01/48		360,934
	200,000	Weyerhaeuser Co		4.625		09/15/23		222,548
	500,000	Weyerhaeuser Co		4.000		11/15/29		582,715
	500,000	Weyerhaeuser Co		4.000		04/15/30		587,507
	1,075,000	Weyerhaeuser Co		7.375		03/15/32		1,566,173
	200,000	WP Carey, Inc		4.600		04/01/24		221,621
	347,000	WP Carey, Inc		4.000		02/01/25		379,516
	1,000,000	WP Carey, Inc		3.850		07/15/29		1,080,359
		TOTAL REAL ESTATE						176,002,761
RETAILING - 0.6%
	100,000	Advance Auto Parts, Inc		1.750		10/01/27		99,587
	500,000	Advance Auto Parts, Inc		3.900		04/15/30		563,038
	500,000	Alibaba Group Holding Ltd		3.125		11/28/21		513,110
	1,200,000	Alibaba Group Holding Ltd		2.800		06/06/23		1,262,836
	1,250,000	Alibaba Group Holding Ltd		3.600		11/28/24		1,372,905
	1,325,000	Alibaba Group Holding Ltd		3.400		12/06/27		1,484,874
	500,000	Alibaba Group Holding Ltd		4.500		11/28/34		627,437
	750,000	Alibaba Group Holding Ltd		4.000		12/06/37		891,866
	1,500,000	Alibaba Group Holding Ltd		4.200		12/06/47		1,903,481
	750,000	Alibaba Group Holding Ltd		4.400		12/06/57		1,010,453
	200,000	Allegion US Holding Co, Inc		3.200		10/01/24		211,952
	200,000	Allegion US Holding Co, Inc		3.550		10/01/27		217,412
	300,000	Amazon.com, Inc		3.300		12/05/21		309,365
	850,000	Amazon.com, Inc		2.500		11/29/22		886,112
	1,650,000	Amazon.com, Inc		2.400		02/22/23		1,729,779
	1,000,000	Amazon.com, Inc		0.400		06/03/23		1,004,546
	1,125,000	Amazon.com, Inc		2.800		08/22/24		1,217,435
	425,000	Amazon.com, Inc		3.800		12/05/24		478,611
	1,000,000	Amazon.com, Inc		0.800		06/03/25		1,008,905
	325,000	Amazon.com, Inc		5.200		12/03/25		395,565
	1,000,000	Amazon.com, Inc		1.200		06/03/27		1,012,633
	2,700,000	Amazon.com, Inc		3.150		08/22/27		3,077,046
	1,000,000	Amazon.com, Inc		1.500		06/03/30		1,020,941
	1,800,000	Amazon.com, Inc		4.800		12/05/34		2,480,216
	2,625,000	Amazon.com, Inc		3.875		08/22/37		3,264,095
	775,000	Amazon.com, Inc		4.950		12/05/44		1,099,655
	1,875,000	Amazon.com, Inc		4.050		08/22/47		2,423,443
	1,900,000	Amazon.com, Inc		2.500		06/03/50		1,928,566
	1,900,000	Amazon.com, Inc		4.250		08/22/57		2,586,987
	1,000,000	Amazon.com, Inc		2.700		06/03/60		1,028,236
	100,000	AutoNation, Inc		3.350		01/15/21		100,437
	200,000	AutoNation, Inc		3.500		11/15/24		212,660
	244,000	AutoNation, Inc		4.500		10/01/25		271,206

74

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	200,000		AutoNation, Inc		3.800	%	11/15/27	$	218,586
	100,000		AutoNation, Inc		4.750		06/01/30		118,346
	442,000		AutoZone, Inc		3.700		04/15/22		460,602
	300,000		AutoZone, Inc		2.875		01/15/23		314,494
	150,000		AutoZone, Inc		3.125		07/15/23		159,457
	250,000		AutoZone, Inc		3.125		04/18/24		269,120
	200,000		AutoZone, Inc		3.250		04/15/25		220,187
	500,000		AutoZone, Inc		3.625		04/15/25		557,439
	100,000		AutoZone, Inc		3.125		04/21/26		109,389
	650,000		AutoZone, Inc		3.750		06/01/27		742,973
	200,000		AutoZone, Inc		3.750		04/18/29		231,167
	500,000		AutoZone, Inc		4.000		04/15/30		592,637
	600,000		AutoZone, Inc		1.650		01/15/31		589,586
	500,000		Best Buy Co, Inc		4.450		10/01/28		592,593
	500,000		Best Buy Co, Inc		1.950		10/01/30		496,636
	500,000		Booking Holdings, Inc		4.100		04/13/25		563,194
	500,000		Booking Holdings, Inc		4.500		04/13/27		586,770
	1,100,000		Booking Holdings, Inc		4.625		04/13/30		1,314,623
	1,000,000		Chevron USA, Inc		0.426		08/11/23		1,000,967
	2,000,000		Chevron USA, Inc		0.687		08/12/25		1,991,790
	2,000,000		Chevron USA, Inc		1.018		08/12/27		1,995,465
	250,000		Chevron USA, Inc		2.343		08/12/50		233,190
	375,000		Dollar General Corp		3.250		04/15/23		397,906
	355,000		Dollar General Corp		4.150		11/01/25		409,089
	300,000		Dollar General Corp		3.875		04/15/27		344,191
	500,000		Dollar General Corp		4.125		05/01/28		585,696
	500,000		Dollar General Corp		3.500		04/03/30		568,705
	500,000		Dollar General Corp		4.125		04/03/50		597,075
	1,500,000		Dollar Tree, Inc		3.700		05/15/23		1,612,975
	500,000		Dollar Tree, Inc		4.000		05/15/25		564,125
	500,000		Dollar Tree, Inc		4.200		05/15/28		589,048
	175,000		eBay, Inc		3.800		03/09/22		183,010
	1,025,000		eBay, Inc		2.600		07/15/22		1,058,681
	375,000		eBay, Inc		2.750		01/30/23		393,236
	400,000		eBay, Inc		3.450		08/01/24		437,502
	1,200,000		eBay, Inc		3.600		06/05/27		1,353,590
	1,200,000		eBay, Inc		2.700		03/11/30		1,271,825
	200,000		eBay, Inc		4.000		07/15/42		224,365
	500,000	g	Expedia Group, Inc		3.600		12/15/23		510,816
	300,000		Expedia Group, Inc		4.500		08/15/24		319,531
	1,200,000		Expedia Group, Inc		5.000		02/15/26		1,281,392
	750,000	g	Expedia Group, Inc		4.625		08/01/27		787,674
	175,000		Expedia Group, Inc		3.800		02/15/28		176,135
	750,000		Expedia Group, Inc		3.250		02/15/30		720,837
	850,000		Home Depot, Inc		3.250		03/01/22		885,371
	700,000		Home Depot, Inc		2.625		06/01/22		726,725
	800,000		Home Depot, Inc		2.700		04/01/23		842,933
	550,000		Home Depot, Inc		3.750		02/15/24		606,718
	350,000		Home Depot, Inc		3.350		09/15/25		394,391
	1,925,000		Home Depot, Inc		3.000		04/01/26		2,165,452
	1,550,000		Home Depot, Inc		2.125		09/15/26		1,669,002
	825,000		Home Depot, Inc		3.900		12/06/28		976,851
	2,333,000		Home Depot, Inc		2.950		06/15/29		2,632,511
	375,000		Home Depot, Inc		2.700		04/15/30		417,204

75

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	425,000	Home Depot, Inc		5.875	%	12/16/36	$	639,019
	150,000	Home Depot, Inc		5.950		04/01/41		226,430
	675,000	Home Depot, Inc		4.200		04/01/43		843,684
	450,000	Home Depot, Inc		4.875		02/15/44		613,703
	650,000	Home Depot, Inc		4.400		03/15/45		838,558
	725,000	Home Depot, Inc		4.250		04/01/46		922,117
	2,100,000	Home Depot, Inc		3.900		06/15/47		2,586,988
	2,000,000	Home Depot, Inc		4.500		12/06/48		2,675,057
	1,000,000	Home Depot, Inc		3.125		12/15/49		1,110,468
	2,655,000	Home Depot, Inc		3.350		04/15/50		3,059,635
	675,000	Home Depot, Inc		3.500		09/15/56		792,251
	500,000	JD.com, Inc		3.375		01/14/30		541,356
	500,000	JD.com, Inc		4.125		01/14/50		555,121
	1,000,000	Kohl’s Corp		3.250		02/01/23		999,816
	55,000	Kohl’s Corp		4.750		12/15/23		57,058
	300,000	Kohl’s Corp		9.500		05/15/25		353,949
	200,000	Kohl’s Corp		4.250		07/17/25		194,128
	200,000	Kohl’s Corp		5.550		07/17/45		183,619
	200,000	Lowe’s Cos, Inc		3.800		11/15/21		206,244
	1,025,000	Lowe’s Cos, Inc		3.120		04/15/22		1,061,319
	300,000	Lowe’s Cos, Inc		3.875		09/15/23		327,289
	400,000	Lowe’s Cos, Inc		3.125		09/15/24		435,061
	1,100,000	Lowe’s Cos, Inc		3.375		09/15/25		1,228,277
	500,000	Lowe’s Cos, Inc		2.500		04/15/26		542,015
	775,000	Lowe’s Cos, Inc		3.650		04/05/29		894,493
	306,000	Lowe’s Cos, Inc		4.500		04/15/30		377,861
	100,000	Lowe’s Cos, Inc		4.650		04/15/42		125,987
	200,000	Lowe’s Cos, Inc		4.250		09/15/44		238,222
	200,000	Lowe’s Cos, Inc		4.375		09/15/45		245,968
	1,075,000	Lowe’s Cos, Inc		3.700		04/15/46		1,230,109
	2,000,000	Lowe’s Cos, Inc		4.050		05/03/47		2,386,457
	1,425,000	Lowe’s Cos, Inc		4.550		04/05/49		1,832,838
	1,320,000	Lowe’s Cos, Inc		5.125		04/15/50		1,806,175
	150,000	O’Reilly Automotive, Inc		4.875		01/14/21		150,223
	900,000	O’Reilly Automotive, Inc		3.800		09/01/22		948,316
	1,000,000	O’Reilly Automotive, Inc		3.600		09/01/27		1,136,976
	300,000	O’Reilly Automotive, Inc		4.350		06/01/28		356,832
	500,000	O’Reilly Automotive, Inc		3.900		06/01/29		584,253
	200,000	O’Reilly Automotive, Inc		1.750		03/15/31		197,526
	200,000	Priceline Group, Inc		2.750		03/15/23		209,930
	300,000	Priceline Group, Inc		3.650		03/15/25		331,029
	300,000	Priceline Group, Inc		3.600		06/01/26		332,398
	900,000	Priceline Group, Inc		3.550		03/15/28		1,003,505
	300,000	Ross Stores, Inc		4.600		04/15/25		345,315
	300,000	Ross Stores, Inc		4.700		04/15/27		353,829
	500,000	Ross Stores, Inc		5.450		04/15/50		651,416
	350,000	Target Corp		3.500		07/01/24		387,061
	200,000	Target Corp		2.250		04/15/25		213,524
	1,700,000	Target Corp		2.500		04/15/26		1,856,805
	1,500,000	Target Corp		3.375		04/15/29		1,742,998
	600,000	Target Corp		2.350		02/15/30		651,002
	100,000	Target Corp		2.650		09/15/30		111,850
	975,000	Target Corp		4.000		07/01/42		1,275,359

76

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	225,000	Target Corp		3.625	%	04/15/46	$	281,946
	1,500,000	Target Corp		3.900		11/15/47		1,975,851
	300,000	TJX Cos, Inc		2.500		05/15/23		314,419
	525,000	TJX Cos, Inc		2.250		09/15/26		558,736
	500,000	TJX Cos, Inc		3.750		04/15/27		572,914
	500,000	TJX Cos, Inc		3.875		04/15/30		592,610
	1,000,000	TJX Cos, Inc		4.500		04/15/50		1,288,128
		TOTAL RETAILING						125,315,186
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.5%
	200,000	Altera Corp		4.100		11/15/23		222,225
	300,000	Analog Devices, Inc		2.500		12/05/21		305,673
	325,000	Analog Devices, Inc		3.125		12/05/23		349,481
	250,000	Analog Devices, Inc		2.950		04/01/25		271,851
	1,175,000	Analog Devices, Inc		3.500		12/05/26		1,329,112
	100,000	Analog Devices, Inc		4.500		12/05/36		119,761
	200,000	Analog Devices, Inc		5.300		12/15/45		281,831
	1,000,000	Applied Materials, Inc		3.300		04/01/27		1,136,191
	950,000	Applied Materials, Inc		1.750		06/01/30		973,734
	250,000	Applied Materials, Inc		5.100		10/01/35		346,395
	100,000	Applied Materials, Inc		5.850		06/15/41		147,035
	1,200,000	Applied Materials, Inc		4.350		04/01/47		1,584,634
	775,000	Applied Materials, Inc		2.750		06/01/50		812,381
	500,000	Broadcom, Inc		2.250		11/15/23		519,782
	750,000	Broadcom, Inc		4.700		04/15/25		852,071
	500,000	Broadcom, Inc		3.150		11/15/25		539,285
	1,600,000	Broadcom, Inc		4.250		04/15/26		1,802,870
	4,399,000	Broadcom, Inc		3.459		09/15/26		4,819,579
	3,706,000	Broadcom, Inc		4.110		09/15/28		4,144,282
	3,000,000	Broadcom, Inc		4.750		04/15/29		3,484,052
	750,000	Broadcom, Inc		5.000		04/15/30		884,618
	850,000	Broadcom, Inc		4.150		11/15/30		954,283
	1,500,000	Broadcom, Inc		4.300		11/15/32		1,710,104
	1,600,000	Intel Corp		3.100		07/29/22		1,681,685
	1,700,000	Intel Corp		2.700		12/15/22		1,789,591
	2,050,000	Intel Corp		3.700		07/29/25		2,331,480
	2,480,000	Intel Corp		2.600		05/19/26		2,728,074
	250,000	Intel Corp		4.000		12/15/32		309,863
	200,000	Intel Corp		4.100		05/19/46		249,093
	675,000	Intel Corp		4.100		05/11/47		855,778
	3,328,000	Intel Corp		3.734		12/08/47		3,965,398
	2,500,000	Intel Corp		3.250		11/15/49		2,785,731
	3,175,000	Intel Corp		4.750		03/25/50		4,352,479
	1,000,000	Intel Corp		3.100		02/15/60		1,083,463
	1,000,000	KLA Corp		3.300		03/01/50		1,046,065
	200,000	Lam Research Corp		3.800		03/15/25		225,032
	150,000	Lam Research Corp		3.750		03/15/26		172,045
	275,000	Lam Research Corp		4.000		03/15/29		329,314
	125,000	Lam Research Corp		1.900		06/15/30		129,421
	825,000	Lam Research Corp		4.875		03/15/49		1,165,177
	200,000	Lam Research Corp		2.875		06/15/50		206,575
	1,200,000	Lam Research Corp		3.125		06/15/60		1,281,366
	350,000	Marvell Technology Group Ltd		4.200		06/22/23		377,852
	350,000	Marvell Technology Group Ltd		4.875		06/22/28		422,161

77

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	200,000		Maxim Integrated Products, Inc		3.375	%	03/15/23	$	212,943
	400,000		Maxim Integrated Products, Inc		3.450		06/15/27		445,576
	1,000,000		Microchip Technology, Inc		4.333		06/01/23		1,077,030
	750,000		Micron Technology, Inc		2.497		04/24/23		778,790
	475,000		Micron Technology, Inc		4.640		02/06/24		529,629
	425,000		Micron Technology, Inc		4.975		02/06/26		492,572
	750,000		Micron Technology, Inc		4.185		02/15/27		851,931
	400,000		Micron Technology, Inc		5.327		02/06/29		480,795
	500,000		Micron Technology, Inc		4.663		02/15/30		586,838
	525,000		NVIDIA Corp		2.200		09/16/21		533,581
	800,000		NVIDIA Corp		3.200		09/16/26		902,155
	750,000		NVIDIA Corp		2.850		04/01/30		845,301
	2,067,000		NVIDIA Corp		3.500		04/01/50		2,415,112
	475,000	g	NXP BV		4.875		03/01/24		534,067
	300,000	g	NXP BV		2.700		05/01/25		317,541
	425,000	g	NXP BV		5.350		03/01/26		502,449
	750,000	g	NXP BV		3.875		06/18/26		840,241
	300,000	g	NXP BV		3.150		05/01/27		324,884
	400,000	g	NXP BV		5.550		12/01/28		494,799
	750,000	g	NXP BV		4.300		06/18/29		864,910
	675,000	g	NXP BV		3.400		05/01/30		738,397
	2,800,000		QUALCOMM, Inc		3.250		05/20/27		3,137,775
	1,339,000	g	QUALCOMM, Inc		1.300		05/20/28		1,332,171
	1,000,000		QUALCOMM, Inc		2.150		05/20/30		1,047,727
	2,384,000	g	QUALCOMM, Inc		1.650		05/20/32		2,358,937
	750,000		QUALCOMM, Inc		4.650		05/20/35		1,007,181
	650,000		QUALCOMM, Inc		4.800		05/20/45		870,140
	1,525,000		QUALCOMM, Inc		4.300		05/20/47		1,954,627
	100,000		Texas Instruments, Inc		2.625		05/15/24		107,367
	325,000		Texas Instruments, Inc		1.375		03/12/25		336,251
	350,000		Texas Instruments, Inc		2.900		11/03/27		391,620
	1,000,000		Texas Instruments, Inc		2.250		09/04/29		1,071,992
	325,000		Texas Instruments, Inc		1.750		05/04/30		334,993
	350,000		Texas Instruments, Inc		3.875		03/15/39		432,053
	1,200,000		Texas Instruments, Inc		4.150		05/15/48		1,565,722
	475,000		Xilinx, Inc		2.950		06/01/24		510,160
	1,000,000		Xilinx, Inc		2.375		06/01/30		1,052,319
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT						87,359,449
SOFTWARE & SERVICES - 1.1%
	775,000		Adobe Systems, Inc		3.250		02/01/25		857,741
	125,000		Adobe, Inc		1.700		02/01/23		128,885
	500,000		Adobe, Inc		1.900		02/01/25		528,540
	1,000,000		Adobe, Inc		2.150		02/01/27		1,073,065
	925,000		Adobe, Inc		2.300		02/01/30		997,517
	1,000,000		Amdocs Ltd		2.538		06/15/30		1,037,859
	250,000		Autodesk, Inc		4.375		06/15/25		286,759
	450,000		Autodesk, Inc		3.500		06/15/27		510,261
	750,000		Autodesk, Inc		2.850		01/15/30		824,797
	700,000		Automatic Data Processing, Inc		3.375		09/15/25		788,498
	900,000		Automatic Data Processing, Inc		1.250		09/01/30		886,588
	900,000		Baidu, Inc		2.875		07/06/22		925,648
	700,000		Baidu, Inc		3.875		09/29/23		750,337

78

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	525,000	Baidu, Inc		4.375	%	05/14/24	$	575,089
	200,000	Baidu, Inc		3.075		04/07/25		212,362
	300,000	Baidu, Inc		3.625		07/06/27		328,867
	500,000	Baidu, Inc		4.375		03/29/28		570,906
	500,000	Baidu, Inc		4.875		11/14/28		593,507
	300,000	Baidu, Inc		3.425		04/07/30		329,054
	350,000	Broadridge Financial Solutions, Inc		3.400		06/27/26		390,169
	1,000,000	Broadridge Financial Solutions, Inc		2.900		12/01/29		1,082,625
	150,000	CA, Inc		4.700		03/15/27		164,953
	500,000	Citrix Systems, Inc		4.500		12/01/27		572,655
	750,000	Citrix Systems, Inc		3.300		03/01/30		800,459
	200,000	DXC Technology Co		4.450		09/18/22		209,949
	500,000	DXC Technology Co		4.000		04/15/23		526,487
	375,000	DXC Technology Co		4.250		04/15/24		405,167
	500,000	DXC Technology Co		4.125		04/15/25		540,138
	200,000	DXC Technology Co		4.750		04/15/27		222,776
	125,000	Fidelity National Information Services, Inc		3.500		04/15/23		133,097
	163,000	Fidelity National Information Services, Inc		3.875		06/05/24		179,827
	1,575,000	Fidelity National Information Services, Inc		3.000		08/15/26		1,748,073
	100,000	Fidelity National Information Services, Inc		4.250		05/15/28		119,799
	300,000	Fidelity National Information Services, Inc		4.500		08/15/46		372,272
	150,000	Fidelity National Information Services, Inc		4.750		05/15/48		197,856
	1,350,000	Fiserv, Inc		3.500		10/01/22		1,423,486
	125,000	Fiserv, Inc		3.800		10/01/23		136,396
	2,000,000	Fiserv, Inc		2.750		07/01/24		2,138,044
	1,675,000	Fiserv, Inc		3.850		06/01/25		1,886,858
	900,000	Fiserv, Inc		3.200		07/01/26		999,702
	1,125,000	Fiserv, Inc		3.500		07/01/29		1,280,400
	675,000	Fiserv, Inc		2.650		06/01/30		725,858
	2,300,000	Fiserv, Inc		4.400		07/01/49		2,869,201
	250,000	Global Payments, Inc		3.800		04/01/21		253,330
	125,000	Global Payments, Inc		3.750		06/01/23		134,011
	500,000	Global Payments, Inc		4.000		06/01/23		542,445
	575,000	Global Payments, Inc		2.650		02/15/25		610,110
	300,000	Global Payments, Inc		4.800		04/01/26		350,184
	500,000	Global Payments, Inc		4.450		06/01/28		585,127
	475,000	Global Payments, Inc		3.200		08/15/29		518,136
	325,000	Global Payments, Inc		2.900		05/15/30		347,518
	750,000	Global Payments, Inc		4.150		08/15/49		878,540
	425,000	International Business Machines Corp		2.500		01/27/22		437,434
	750,000	International Business Machines Corp		1.875		08/01/22		772,227
	750,000	International Business Machines Corp		2.875		11/09/22		790,946
	550,000	International Business Machines Corp		3.375		08/01/23		597,199
	600,000	International Business Machines Corp		3.625		02/12/24		660,972
	3,000,000	International Business Machines Corp		3.000		05/15/24		3,249,966
	350,000	International Business Machines Corp		3.450		02/19/26		396,141
	2,500,000	International Business Machines Corp		3.300		05/15/26		2,816,915
	1,000,000	International Business Machines Corp		1.700		05/15/27		1,032,678
	2,675,000	International Business Machines Corp		3.500		05/15/29		3,088,671
	900,000	International Business Machines Corp		1.950		05/15/30		926,441
	1,850,000	International Business Machines Corp		4.150		05/15/39		2,258,930
	19,000	International Business Machines Corp		5.600		11/30/39		26,980
	450,000	International Business Machines Corp		2.850		05/15/40		475,735
	1,060,000	International Business Machines Corp		4.000		06/20/42		1,268,857

79

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	1,500,000	International Business Machines Corp		4.700	%	02/19/46	$	2,020,595
	2,500,000	International Business Machines Corp		4.250		05/15/49		3,114,017
	475,000	International Business Machines Corp		2.950		05/15/50		492,484
	350,000	Intuit, Inc		0.650		07/15/23		351,834
	300,000	Intuit, Inc		0.950		07/15/25		302,806
	350,000	Intuit, Inc		1.350		07/15/27		355,018
	350,000	Intuit, Inc		1.650		07/15/30		355,992
	200,000	Mastercard, Inc		2.000		11/21/21		203,657
	1,000,000	Mastercard, Inc		3.375		04/01/24		1,100,218
	1,000,000	Mastercard, Inc		2.000		03/03/25		1,064,485
	425,000	Mastercard, Inc		2.950		11/21/26		478,420
	750,000	Mastercard, Inc		3.500		02/26/28		874,126
	1,000,000	Mastercard, Inc		2.950		06/01/29		1,128,801
	200,000	Mastercard, Inc		3.800		11/21/46		244,762
	300,000	Mastercard, Inc		3.950		02/26/48		381,001
	1,000,000	Mastercard, Inc		3.650		06/01/49		1,224,445
	1,350,000	Mastercard, Inc		3.850		03/26/50		1,698,367
	1,300,000	Microsoft Corp		2.375		02/12/22		1,333,777
	725,000	Microsoft Corp		2.650		11/03/22		758,249
	575,000	Microsoft Corp		2.125		11/15/22		597,220
	275,000	Microsoft Corp		2.375		05/01/23		288,508
	1,450,000	Microsoft Corp		2.000		08/08/23		1,513,874
	800,000	Microsoft Corp		3.625		12/15/23		875,462
	975,000	Microsoft Corp		2.700		02/12/25		1,060,216
	1,075,000	Microsoft Corp		3.125		11/03/25		1,201,758
	2,925,000	Microsoft Corp		2.400		08/08/26		3,186,198
	5,739,000	Microsoft Corp		3.300		02/06/27		6,559,280
	150,000	Microsoft Corp		3.500		02/12/35		185,463
	1,175,000	Microsoft Corp		4.200		11/03/35		1,542,903
	2,250,000	Microsoft Corp		3.450		08/08/36		2,720,796
	1,837,000	Microsoft Corp		4.100		02/06/37		2,383,363
	500,000	Microsoft Corp		3.500		11/15/42		615,133
	1,575,000	Microsoft Corp		3.700		08/08/46		1,976,308
	6,038,000	Microsoft Corp		2.525		06/01/50		6,298,711
	1,073,000	Microsoft Corp		3.950		08/08/56		1,415,309
	7,374,000	Microsoft Corp		2.675		06/01/60		7,721,274
	1,125,000	Oracle Corp		1.900		09/15/21		1,141,013
	1,600,000	Oracle Corp		2.500		05/15/22		1,650,026
	2,150,000	Oracle Corp		2.500		10/15/22		2,241,234
	800,000	Oracle Corp		2.625		02/15/23		835,562
	225,000	Oracle Corp		3.625		07/15/23		244,310
	2,375,000	Oracle Corp		2.400		09/15/23		2,499,104
	1,225,000	Oracle Corp		3.400		07/08/24		1,340,485
	900,000	Oracle Corp		2.950		11/15/24		975,942
	1,000,000	Oracle Corp		2.500		04/01/25		1,071,548
	1,650,000	Oracle Corp		2.950		05/15/25		1,796,337
	2,884,000	Oracle Corp		2.650		07/15/26		3,148,013
	1,000,000	Oracle Corp		2.800		04/01/27		1,097,122
	1,000,000	Oracle Corp		2.950		04/01/30		1,117,580
	400,000	Oracle Corp		3.250		05/15/30		455,459
	2,497,000	Oracle Corp		4.300		07/08/34		3,125,631
	650,000	Oracle Corp		3.900		05/15/35		789,706
	1,225,000	Oracle Corp		3.850		07/15/36		1,445,185

80

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	4,000,000	Oracle Corp		3.800	%	11/15/37	$	4,685,250
	100,000	Oracle Corp		6.500		04/15/38		155,846
	470,000	Oracle Corp		6.125		07/08/39		701,654
	675,000	Oracle Corp		3.600		04/01/40		769,804
	325,000	Oracle Corp		5.375		07/15/40		452,511
	500,000	Oracle Corp		4.500		07/08/44		629,728
	325,000	Oracle Corp		4.125		05/15/45		389,537
	2,025,000	Oracle Corp		4.000		07/15/46		2,393,446
	3,100,000	Oracle Corp		4.000		11/15/47		3,667,048
	7,350,000	Oracle Corp		3.600		04/01/50		8,195,417
	500,000	Oracle Corp		4.375		05/15/55		627,349
	1,000,000	Oracle Corp		3.850		04/01/60		1,173,483
	550,000	PayPal Holdings, Inc		2.200		09/26/22		568,574
	1,000,000	PayPal Holdings, Inc		1.350		06/01/23		1,021,368
	1,000,000	PayPal Holdings, Inc		2.400		10/01/24		1,059,360
	1,000,000	PayPal Holdings, Inc		1.650		06/01/25		1,035,502
	1,000,000	PayPal Holdings, Inc		2.850		10/01/29		1,099,436
	500,000	PayPal Holdings, Inc		2.300		06/01/30		527,546
	1,000,000	PayPal Holdings, Inc		3.250		06/01/50		1,103,312
	725,000	salesforce.com, Inc		3.250		04/11/23		777,238
	925,000	salesforce.com, Inc		3.700		04/11/28		1,090,332
	1,000,000	ServiceNow, Inc		1.400		09/01/30		971,890
	450,000	Visa, Inc		2.150		09/15/22		465,807
	1,025,000	Visa, Inc		2.800		12/14/22		1,077,164
	3,725,000	Visa, Inc		3.150		12/14/25		4,166,785
	1,175,000	Visa, Inc		0.750		08/15/27		1,165,396
	700,000	Visa, Inc		2.750		09/15/27		774,329
	475,000	Visa, Inc		2.050		04/15/30		507,651
	1,500,000	Visa, Inc		1.100		02/15/31		1,467,603
	250,000	Visa, Inc		4.150		12/14/35		323,509
	1,500,000	Visa, Inc		2.700		04/15/40		1,619,418
	2,325,000	Visa, Inc		4.300		12/14/45		3,081,614
	1,125,000	Visa, Inc		3.650		09/15/47		1,378,476
	750,000	Visa, Inc		2.000		08/15/50		691,529
	1,475,000	VMware, Inc		2.950		08/21/22		1,535,589
	500,000	VMware, Inc		4.500		05/15/25		565,467
	725,000	VMware, Inc		3.900		08/21/27		809,323
	1,000,000	VMware, Inc		4.700		05/15/30		1,183,060
	1,600,000	Western Union Co		3.600		03/15/22		1,658,440
	200,000	Western Union Co		4.250		06/09/23		215,913
	500,000	Western Union Co		2.850		01/10/25		526,986
		TOTAL SOFTWARE & SERVICES						193,260,797
TECHNOLOGY HARDWARE & EQUIPMENT - 0.7%
	200,000	Amphenol Corp		3.200		04/01/24		215,786
	250,000	Amphenol Corp		2.050		03/01/25		262,110
	450,000	Amphenol Corp		4.350		06/01/29		545,744
	1,000,000	Amphenol Corp		2.800		02/15/30		1,093,958
	1,250,000	Apple, Inc		2.150		02/09/22		1,281,489
	1,050,000	Apple, Inc		2.700		05/13/22		1,091,426
	275,000	Apple, Inc		1.700		09/11/22		282,427
	575,000	Apple, Inc		2.100		09/12/22		594,132
	650,000	Apple, Inc		2.400		01/13/23		678,877
	750,000	Apple, Inc		2.850		02/23/23		791,444

81

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	925,000	Apple, Inc		2.400	%	05/03/23	$	973,344
	1,000,000	Apple, Inc		0.750		05/11/23		1,008,624
	1,150,000	Apple, Inc		3.000		02/09/24		1,238,159
	2,725,000	Apple, Inc		3.450		05/06/24		3,003,166
	1,075,000	Apple, Inc		2.850		05/11/24		1,157,435
	1,850,000	Apple, Inc		2.750		01/13/25		2,008,099
	1,075,000	Apple, Inc		2.500		02/09/25		1,159,221
	2,000,000	Apple, Inc		1.125		05/11/25		2,046,277
	1,125,000	Apple, Inc		3.200		05/13/25		1,254,124
	2,000,000	Apple, Inc		0.550		08/20/25		2,002,235
	2,825,000	Apple, Inc		3.250		02/23/26		3,176,037
	1,425,000	Apple, Inc		2.450		08/04/26		1,552,479
	1,750,000	Apple, Inc		2.050		09/11/26		1,870,606
	1,075,000	Apple, Inc		3.350		02/09/27		1,228,954
	275,000	Apple, Inc		3.200		05/11/27		312,694
	3,675,000	Apple, Inc		3.000		11/13/27		4,151,971
	950,000	Apple, Inc		1.650		05/11/30		982,032
	3,000,000	Apple, Inc		1.250		08/20/30		2,979,121
	1,600,000	Apple, Inc		4.500		02/23/36		2,137,388
	350,000	Apple, Inc		3.850		05/04/43		435,714
	750,000	Apple, Inc		4.450		05/06/44		1,016,282
	1,350,000	Apple, Inc		3.450		02/09/45		1,599,592
	1,000,000	Apple, Inc		4.375		05/13/45		1,336,009
	1,775,000	Apple, Inc		4.650		02/23/46		2,471,644
	900,000	Apple, Inc		3.850		08/04/46		1,123,463
	1,175,000	Apple, Inc		4.250		02/09/47		1,559,400
	900,000	Apple, Inc		3.750		09/12/47		1,106,549
	2,850,000	Apple, Inc		3.750		11/13/47		3,502,118
	3,000,000	Apple, Inc		2.950		09/11/49		3,280,195
	1,350,000	Apple, Inc		2.650		05/11/50		1,401,335
	1,375,000	Apple, Inc		2.400		08/20/50		1,376,540
	25,000	Apple, Inc		2.550		08/20/60		24,873
	200,000	Arrow Electronics, Inc		3.500		04/01/22		206,781
	425,000	Arrow Electronics, Inc		3.250		09/08/24		458,842
	200,000	Arrow Electronics, Inc		4.000		04/01/25		217,498
	425,000	Arrow Electronics, Inc		3.875		01/12/28		472,830
	200,000	Avnet, Inc		3.750		12/01/21		205,732
	300,000	Avnet, Inc		4.875		12/01/22		321,424
	200,000	Avnet, Inc		4.625		04/15/26		223,649
	500,000	Broadcom Corp		2.650		01/15/23		519,374
	2,250,000	Broadcom Corp		3.125		01/15/25		2,399,794
	1,750,000	Broadcom Corp		3.875		01/15/27		1,940,511
	250,000	Broadcom Corp		3.500		01/15/28		270,730
	400,000	Cisco Systems, Inc		3.000		06/15/22		418,899
	500,000	Cisco Systems, Inc		2.600		02/28/23		527,271
	1,100,000	Cisco Systems, Inc		3.625		03/04/24		1,218,676
	400,000	Cisco Systems, Inc		3.500		06/15/25		454,459
	500,000	Cisco Systems, Inc		2.950		02/28/26		558,339
	3,000,000	Cisco Systems, Inc		2.500		09/20/26		3,301,589
	1,000,000	Cisco Systems, Inc		5.900		02/15/39		1,491,679
	1,175,000	Cisco Systems, Inc		5.500		01/15/40		1,738,344
	300,000	Corning, Inc		2.900		05/15/22		309,918
	200,000	Corning, Inc		4.700		03/15/37		241,719

82

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	100,000		Corning, Inc		5.750	%	08/15/40	$	133,748
	200,000		Corning, Inc		4.750		03/15/42		247,897
	300,000		Corning, Inc		5.350		11/15/48		405,926
	500,000		Corning, Inc		3.900		11/15/49		574,387
	825,000		Corning, Inc		4.375		11/15/57		1,004,756
	200,000		Corning, Inc		5.850		11/15/68		270,801
	1,000,000		Corning, Inc		5.450		11/15/79		1,274,175
	387,000	g	Dell International LLC		4.420		06/15/21		396,142
	4,150,000	g	Dell International LLC		5.450		06/15/23		4,549,813
	875,000	g	Dell International LLC		4.000		07/15/24		945,378
	2,925,000	g	Dell International LLC		6.020		06/15/26		3,435,290
	1,050,000	g	Dell International LLC		4.900		10/01/26		1,186,656
	1,900,000	g	Dell International LLC		5.300		10/01/29		2,176,460
	1,125,000	g	Dell International LLC		8.100		07/15/36		1,477,603
	1,525,000	g	Dell International LLC		8.350		07/15/46		2,021,584
	800,000		Flex Ltd		4.750		06/15/25		899,704
	500,000		Flex Ltd		3.750		02/01/26		545,986
	600,000		Flex Ltd		4.875		06/15/29		689,302
	1,000,000		Flex Ltd		4.875		05/12/30		1,140,443
	1,000,000		FLIR Systems, Inc		2.500		08/01/30		1,022,603
	500,000		Genpact Luxembourg Sarl		3.375		12/01/24		523,526
	500,000		Hewlett Packard Enterprise Co		3.500		10/05/21		514,221
	1,000,000		Hewlett Packard Enterprise Co		2.250		04/01/23		1,032,010
	500,000		Hewlett Packard Enterprise Co		4.450		10/02/23		549,805
	1,500,000		Hewlett Packard Enterprise Co		1.450		04/01/24		1,519,071
	500,000		Hewlett Packard Enterprise Co		4.650		10/01/24		565,303
	3,000,000		Hewlett Packard Enterprise Co		4.900		10/15/25		3,437,292
	225,000		Hewlett Packard Enterprise Co		6.200		10/15/35		281,386
	1,175,000		Hewlett Packard Enterprise Co		6.350		10/15/45		1,492,841
	200,000		HP, Inc		4.050		09/15/22		213,485
	1,000,000		HP, Inc		2.200		06/17/25		1,047,555
	1,000,000		HP, Inc		3.000		06/17/27		1,080,508
	1,000,000		HP, Inc		3.400		06/17/30		1,071,215
	975,000		HP, Inc		6.000		09/15/41		1,192,418
	1,000,000		Jabil, Inc		4.700		09/15/22		1,072,033
	100,000		Jabil, Inc		3.950		01/12/28		109,279
	750,000		Jabil, Inc		3.600		01/15/30		797,632
	550,000		Jabil, Inc		3.000		01/15/31		561,131
	200,000		Juniper Networks, Inc		4.500		03/15/24		223,569
	750,000		Juniper Networks, Inc		4.350		06/15/25		844,464
	750,000		Juniper Networks, Inc		3.750		08/15/29		855,685
	200,000		Keysight Technologies, Inc		4.550		10/30/24		225,846
	600,000		Keysight Technologies, Inc		4.600		04/06/27		701,015
	500,000		Keysight Technologies, Inc		3.000		10/30/29		546,228
	182,000		Motorola Solutions, Inc		4.000		09/01/24		202,005
	450,000		Motorola Solutions, Inc		4.600		02/23/28		525,141
	500,000		Motorola Solutions, Inc		4.600		05/23/29		589,710
	600,000		Motorola Solutions, Inc		2.300		11/15/30		595,193
	200,000		Motorola Solutions, Inc		5.500		09/01/44		231,375
	200,000		NetApp, Inc		3.300		09/29/24		217,900
	500,000		NetApp, Inc		1.875		06/22/25		518,017
	500,000		NetApp, Inc		2.375		06/22/27		521,338
	750,000		NetApp, Inc		2.700		06/22/30		776,035
	101,000		Seagate HDD Cayman		4.875		06/01/27		113,088

83

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	1,944,000	g	Seagate HDD Cayman		4.091	%	06/01/29	$	2,101,103
	100,000	g	Seagate HDD Cayman		4.125		01/15/31		107,846
	200,000		Seagate HDD Cayman		5.750		12/01/34		227,083
	250,000		Tyco Electronics Group S.A.		3.500		02/03/22		258,028
	200,000		Tyco Electronics Group S.A.		3.450		08/01/24		217,433
	100,000		Tyco Electronics Group S.A.		3.700		02/15/26		112,238
	1,150,000		Tyco Electronics Group S.A.		3.125		08/15/27		1,256,882
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						132,237,718
TELECOMMUNICATION SERVICES - 1.2%
	950,000		America Movil SAB de C.V.		3.125		07/16/22		989,493
	1,000,000		America Movil SAB de C.V.		3.625		04/22/29		1,130,960
	1,000,000		America Movil SAB de C.V.		2.875		05/07/30		1,083,120
	440,000		America Movil SAB de C.V.		6.125		03/30/40		633,279
	1,625,000		America Movil SAB de C.V.		4.375		07/16/42		1,990,787
	1,500,000		America Movil SAB de C.V.		4.375		04/22/49		1,868,550
	625,000		AT&T, Inc		3.000		06/30/22		649,755
	575,000		AT&T, Inc		2.625		12/01/22		598,910
	650,000		AT&T, Inc		4.050		12/15/23		720,221
	1,675,000		AT&T, Inc		4.450		04/01/24		1,872,888
	500,000		AT&T, Inc		3.875		01/15/26		566,829
	2,050,000		AT&T, Inc		4.125		02/17/26		2,346,122
	750,000		AT&T, Inc		2.950		07/15/26		818,960
	2,175,000		AT&T, Inc		3.800		02/15/27		2,451,875
	2,075,000		AT&T, Inc		4.250		03/01/27		2,408,068
	1,150,000		AT&T, Inc		1.650		02/01/28		1,151,239
	5,255,000		AT&T, Inc		4.100		02/15/28		6,072,842
	4,375,000		AT&T, Inc		4.350		03/01/29		5,135,200
	3,000,000		AT&T, Inc		2.250		02/01/32		2,996,508
	1,825,000		AT&T, Inc		4.500		05/15/35		2,152,669
	3,000,000		AT&T, Inc		3.500		06/01/41		3,155,098
	900,000		AT&T, Inc		4.900		06/15/42		1,073,168
	2,591,000		AT&T, Inc		4.300		12/15/42		2,919,846
	2,000,000		AT&T, Inc		3.100		02/01/43		1,951,116
	300,000		AT&T, Inc		4.650		06/01/44		341,034
	658,000		AT&T, Inc		4.800		06/15/44		781,736
	796,000		AT&T, Inc		4.350		06/15/45		891,748
	1,818,000		AT&T, Inc		4.500		03/09/48		2,075,517
	2,000,000		AT&T, Inc		3.650		06/01/51		2,018,577
	1,175,000		AT&T, Inc		3.300		02/01/52		1,093,352
	11,860,000	g	AT&T, Inc		3.500		09/15/53		11,554,436
	8,857,000	g	AT&T, Inc		3.550		09/15/55		8,472,589
	8,523,000	g	AT&T, Inc		3.650		09/15/59		8,230,409
	1,000,000		AT&T, Inc		3.850		06/01/60		1,014,939
	2,000,000		AT&T, Inc		3.500		02/01/61		1,899,012
	750,000		Bell Canada, Inc		4.464		04/01/48		921,115
	750,000		Bell Canada, Inc		4.300		07/29/49		919,992
	750,000		British Telecommunications plc		4.500		12/04/23		829,875
	750,000		British Telecommunications plc		5.125		12/04/28		903,385
	1,425,000		British Telecommunications plc		9.625		12/15/30		2,283,355
	2,690,000		Deutsche Telekom International Finance BV		8.750		06/15/30		4,177,031
	2,000,000		Orange S.A.		4.125		09/14/21		2,069,015
	745,000		Orange S.A.		9.000		03/01/31		1,213,658

84

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	900,000		Orange S.A.		5.375	%	01/13/42	$	1,264,527
	725,000		Orange S.A.		5.500		02/06/44		1,044,350
	200,000		Rogers Communications, Inc		4.100		10/01/23		219,394
	1,713,000		Rogers Communications, Inc		3.625		12/15/25		1,937,223
	200,000		Rogers Communications, Inc		2.900		11/15/26		221,953
	125,000		Rogers Communications, Inc		4.500		03/15/43		153,459
	300,000		Rogers Communications, Inc		5.450		10/01/43		411,627
	600,000		Rogers Communications, Inc		5.000		03/15/44		783,356
	150,000		Rogers Communications, Inc		4.300		02/15/48		183,789
	1,500,000		Rogers Communications, Inc		4.350		05/01/49		1,826,479
	1,300,000		Rogers Communications, Inc		3.700		11/15/49		1,451,553
	225,000		Telefonica Emisiones SAU		4.570		04/27/23		246,531
	1,500,000		Telefonica Emisiones SAU		4.103		03/08/27		1,705,371
	625,000		Telefonica Emisiones SAU		7.045		06/20/36		896,324
	1,200,000		Telefonica Emisiones SAU		4.665		03/06/38		1,380,872
	2,125,000		Telefonica Emisiones SAU		5.213		03/08/47		2,520,112
	1,175,000		Telefonica Emisiones SAU		4.895		03/06/48		1,351,766
	900,000		Telefonica Emisiones SAU		5.520		03/01/49		1,118,605
	567,000		Telefonica Europe BV		8.250		09/15/30		854,006
	325,000		TELUS Corp		2.800		02/16/27		349,834
	300,000		TELUS Corp		3.700		09/15/27		339,496
	500,000		TELUS Corp		4.600		11/16/48		622,582
	750,000		TELUS Corp		4.300		06/15/49		917,148
	1,500,000	g	T-Mobile USA, Inc		3.500		04/15/25		1,645,830
	4,000,000	g	T-Mobile USA, Inc		1.500		02/15/26		4,008,720
	1,500,000	g	T-Mobile USA, Inc		3.750		04/15/27		1,679,310
	3,500,000	g,h	T-Mobile USA, Inc		2.050		02/15/28		3,577,140
	825,000	g	T-Mobile USA, Inc		3.875		04/15/30		938,050
	1,500,000	g,h	T-Mobile USA, Inc		2.550		02/15/31		1,554,120
	650,000	g	T-Mobile USA, Inc		4.375		04/15/40		761,911
	350,000	g,h	T-Mobile USA, Inc		3.000		02/15/41		345,534
	3,875,000	g	T-Mobile USA, Inc		4.500		04/15/50		4,657,595
	1,500,000	g,h	T-Mobile USA, Inc		3.300		02/15/51		1,478,475
	475,000		Verizon Communications, Inc		2.946		03/15/22		492,428
	350,000		Verizon Communications, Inc		5.150		09/15/23		395,762
	575,000		Verizon Communications, Inc		3.500		11/01/24		634,721
	700,000		Verizon Communications, Inc		2.625		08/15/26		763,650
	2,625,000		Verizon Communications, Inc		3.000		03/22/27		2,921,015
	6,641,000		Verizon Communications, Inc		4.329		09/21/28		8,034,163
	350,000		Verizon Communications, Inc		3.875		02/08/29		413,602
	9,005,000		Verizon Communications, Inc		4.016		12/03/29		10,785,805
	200,000		Verizon Communications, Inc		3.150		03/22/30		225,856
	1,550,000		Verizon Communications, Inc		1.500		09/18/30		1,543,517
	2,975,000		Verizon Communications, Inc		4.500		08/10/33		3,756,756
	3,250,000		Verizon Communications, Inc		4.400		11/01/34		4,054,755
	3,775,000		Verizon Communications, Inc		4.272		01/15/36		4,649,500
	325,000		Verizon Communications, Inc		5.250		03/16/37		449,394
	11,875,000		Verizon Communications, Inc		5.012		04/15/49		17,054,440
	150,000		Verizon Communications, Inc		4.000		03/22/50		184,237
	4,000,000		Vodafone Group plc		4.125		05/30/25		4,560,229
	4,425,000		Vodafone Group plc		4.375		05/30/28		5,236,748
	425,000		Vodafone Group plc		6.150		02/27/37		587,862
	925,000		Vodafone Group plc		5.000		05/30/38		1,151,192
	1,900,000		Vodafone Group plc		4.375		02/19/43		2,222,067

85

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	1,450,000	Vodafone Group plc		5.250	%	05/30/48	$	1,869,326
	1,000,000	Vodafone Group plc		4.875		06/19/49		1,239,799
	1,000,000	Vodafone Group plc		4.250		09/17/50		1,159,811
	500,000	Vodafone Group plc		5.125		06/19/59		635,258
		TOTAL TELECOMMUNICATION SERVICES						215,897,213
TRANSPORTATION - 0.8%
	698,626	American Airlines, Inc		3.000		10/15/28		652,598
	275,000	Boeing Co		2.300		08/01/21		278,613
	300,000	Boeing Co		2.700		05/01/22		305,906
	750,000	Boeing Co		2.800		03/01/23		764,511
	2,100,000	Boeing Co		4.508		05/01/23		2,210,773
	300,000	Boeing Co		2.800		03/01/24		306,028
	2,200,000	Boeing Co		4.875		05/01/25		2,399,893
	400,000	Boeing Co		2.600		10/30/25		399,759
	300,000	Boeing Co		3.100		05/01/26		299,186
	200,000	Boeing Co		2.250		06/15/26		194,621
	500,000	Boeing Co		2.700		02/01/27		487,382
	250,000	Boeing Co		2.800		03/01/27		243,843
	1,900,000	Boeing Co		5.040		05/01/27		2,085,849
	500,000	Boeing Co		3.250		03/01/28		496,172
	125,000	Boeing Co		3.450		11/01/28		125,166
	600,000	Boeing Co		3.200		03/01/29		590,551
	750,000	Boeing Co		2.950		02/01/30		725,294
	1,600,000	Boeing Co		5.150		05/01/30		1,792,393
	300,000	Boeing Co		3.600		05/01/34		288,560
	425,000	Boeing Co		3.250		02/01/35		399,117
	500,000	Boeing Co		3.550		03/01/38		454,736
	600,000	Boeing Co		3.500		03/01/39		544,296
	350,000	Boeing Co		5.875		02/15/40		397,189
	2,000,000	Boeing Co		5.705		05/01/40		2,334,540
	300,000	Boeing Co		3.375		06/15/46		256,581
	250,000	Boeing Co		3.650		03/01/47		220,279
	100,000	Boeing Co		3.625		03/01/48		87,695
	100,000	Boeing Co		3.850		11/01/48		91,440
	5,000,000	Boeing Co		5.805		05/01/50		6,031,042
	125,000	Boeing Co		3.825		03/01/59		109,950
	750,000	Boeing Co		3.950		08/01/59		677,320
	4,000,000	Boeing Co		5.930		05/01/60		4,939,679
	300,000	Burlington Northern Santa Fe LLC		3.050		03/15/22		309,286
	150,000	Burlington Northern Santa Fe LLC		3.050		09/01/22		156,699
	1,100,000	Burlington Northern Santa Fe LLC		3.850		09/01/23		1,201,509
	500,000	Burlington Northern Santa Fe LLC		3.750		04/01/24		551,354
	150,000	Burlington Northern Santa Fe LLC		3.400		09/01/24		164,748
	300,000	Burlington Northern Santa Fe LLC		3.000		04/01/25		329,450
	700,000	Burlington Northern Santa Fe LLC		3.650		09/01/25		794,776
	660,000	Burlington Northern Santa Fe LLC		5.750		05/01/40		944,478
	250,000	Burlington Northern Santa Fe LLC		5.050		03/01/41		333,062
	200,000	Burlington Northern Santa Fe LLC		4.400		03/15/42		249,812
	300,000	Burlington Northern Santa Fe LLC		4.450		03/15/43		381,337
	500,000	Burlington Northern Santa Fe LLC		5.150		09/01/43		687,309
	500,000	Burlington Northern Santa Fe LLC		4.900		04/01/44		678,147
	600,000	Burlington Northern Santa Fe LLC		4.550		09/01/44		779,549

86

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	1,275,000	Burlington Northern Santa Fe LLC		4.150	%	04/01/45	$	1,592,494
	200,000	Burlington Northern Santa Fe LLC		4.700		09/01/45		267,025
	1,150,000	Burlington Northern Santa Fe LLC		3.900		08/01/46		1,390,978
	400,000	Burlington Northern Santa Fe LLC		4.125		06/15/47		494,454
	1,175,000	Burlington Northern Santa Fe LLC		4.050		06/15/48		1,458,612
	1,025,000	Burlington Northern Santa Fe LLC		4.150		12/15/48		1,290,027
	750,000	Burlington Northern Santa Fe LLC		3.550		02/15/50		875,584
	750,000	Burlington Northern Santa Fe LLC		3.050		02/15/51		814,720
	100,000	Canadian National Railway Co		2.850		12/15/21		102,435
	300,000	Canadian National Railway Co		2.250		11/15/22		309,774
	200,000	Canadian National Railway Co		2.950		11/21/24		216,312
	200,000	Canadian National Railway Co		6.900		07/15/28		276,852
	200,000	Canadian National Railway Co		6.250		08/01/34		303,484
	250,000	Canadian National Railway Co		3.500		11/15/42		280,712
	100,000	Canadian National Railway Co		4.500		11/07/43		127,170
	650,000	Canadian National Railway Co		3.200		08/02/46		730,528
	725,000	Canadian National Railway Co		3.650		02/03/48		873,912
	325,000	Canadian National Railway Co		4.450		01/20/49		441,723
	400,000	Canadian National Railway Co		2.450		05/01/50		398,167
	1,800,000	Canadian Pacific Railway Co		2.900		02/01/25		1,948,496
	300,000	Canadian Pacific Railway Co		4.000		06/01/28		353,298
	100,000	Canadian Pacific Railway Co		2.050		03/05/30		104,200
	200,000	Canadian Pacific Railway Co		7.125		10/15/31		296,194
	250,000	Canadian Pacific Railway Co		5.950		05/15/37		366,489
	775,000	Canadian Pacific Railway Co		6.125		09/15/15		1,178,011
	400,000	CH Robinson Worldwide, Inc		4.200		04/15/28		466,481
	187,628	Continental Airlines, Inc		4.750		01/12/21		185,832
	20,643	Continental Airlines, Inc		5.983		04/19/22		20,245
	327,735	Continental Airlines, Inc		4.150		04/11/24		321,096
	134,902	Continental Airlines, Inc		4.000		10/29/24		129,464
	125,000	CSX Corp		3.700		11/01/23		135,629
	300,000	CSX Corp		3.400		08/01/24		328,349
	200,000	CSX Corp		3.350		11/01/25		224,575
	1,200,000	CSX Corp		2.600		11/01/26		1,307,670
	825,000	CSX Corp		4.250		03/15/29		993,332
	600,000	CSX Corp		2.400		02/15/30		642,354
	100,000	CSX Corp		6.000		10/01/36		141,660
	200,000	CSX Corp		6.150		05/01/37		290,555
	400,000	CSX Corp		5.500		04/15/41		545,026
	350,000	CSX Corp		4.400		03/01/43		424,755
	600,000	CSX Corp		4.100		03/15/44		718,100
	800,000	CSX Corp		3.800		11/01/46		929,326
	1,050,000	CSX Corp		4.300		03/01/48		1,305,301
	850,000	CSX Corp		4.750		11/15/48		1,125,997
	500,000	CSX Corp		4.500		03/15/49		650,361
	600,000	CSX Corp		3.350		09/15/49		661,992
	1,000,000	CSX Corp		3.800		04/15/50		1,194,748
	200,000	CSX Corp		3.950		05/01/50		244,784
	300,000	CSX Corp		4.500		08/01/54		387,809
	150,000	CSX Corp		4.250		11/01/66		186,006
	300,000	CSX Corp		4.650		03/01/68		392,080
	97,869	Delta Air Lines, Inc		3.625		07/30/27		98,084
	300,000	Delta Air Lines, Inc		2.000		06/10/28		289,855
	175,000	FedEx Corp		3.400		01/14/22		181,395

87

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	300,000	FedEx Corp		4.000	%	01/15/24	$	332,311
	100,000	FedEx Corp		3.200		02/01/25		109,788
	500,000	FedEx Corp		3.800		05/15/25		564,762
	500,000	FedEx Corp		3.250		04/01/26		556,575
	400,000	FedEx Corp		3.300		03/15/27		444,778
	1,250,000	FedEx Corp		3.400		02/15/28		1,402,427
	500,000	FedEx Corp		4.200		10/17/28		588,647
	2,000,000	FedEx Corp		3.100		08/05/29		2,220,489
	500,000	FedEx Corp		4.250		05/15/30		598,367
	1,000,000	FedEx Corp		4.900		01/15/34		1,298,908
	200,000	FedEx Corp		3.900		02/01/35		226,806
	275,000	FedEx Corp		5.100		01/15/44		349,819
	1,100,000	FedEx Corp		4.750		11/15/45		1,358,300
	600,000	FedEx Corp		4.550		04/01/46		722,079
	450,000	FedEx Corp		4.400		01/15/47		530,764
	900,000	FedEx Corp		4.050		02/15/48		1,036,750
	500,000	FedEx Corp		4.950		10/17/48		638,305
	500,000	FedEx Corp		5.250		05/15/50		670,874
	200,000	FedEx Corp		4.500		02/01/65		211,187
	1,000,000	FedEx Corp 2020- Class AA Pass Through Trust		1.875		02/20/34		1,014,000
	200,000	JB Hunt Transport Services, Inc		3.300		08/15/22		208,192
	500,000	JB Hunt Transport Services, Inc		3.875		03/01/26		577,349
	493,904	JetBlue Pass Through Trust		2.750		05/15/32		483,337
	1,000,000	JetBlue Pass Through Trust		4.000		11/15/32		1,034,230
	100,000	Kansas City Southern		3.000		05/15/23		102,834
	100,000	Kansas City Southern		3.125		06/01/26		104,835
	500,000	Kansas City Southern		2.875		11/15/29		529,671
	100,000	Kansas City Southern		4.300		05/15/43		105,465
	175,000	Kansas City Southern		4.950		08/15/45		194,752
	800,000	Kansas City Southern		4.700		05/01/48		887,661
	500,000	Kansas City Southern		3.500		05/01/50		516,513
	500,000	Kansas City Southern		4.200		11/15/69		531,899
	350,000	Kirby Corp		4.200		03/01/28		363,114
	100,000	Norfolk Southern Corp		3.250		12/01/21		102,482
	250,000	Norfolk Southern Corp		3.000		04/01/22		258,573
	1,291,000	Norfolk Southern Corp		2.903		02/15/23		1,358,902
	350,000	Norfolk Southern Corp		2.900		06/15/26		386,021
	300,000	Norfolk Southern Corp		3.150		06/01/27		334,782
	700,000	Norfolk Southern Corp		3.800		08/01/28		820,985
	16,000	Norfolk Southern Corp		4.837		10/01/41		20,956
	300,000	Norfolk Southern Corp		4.450		06/15/45		380,074
	200,000	Norfolk Southern Corp		4.650		01/15/46		260,311
	303,000	Norfolk Southern Corp		3.942		11/01/47		363,446
	1,450,000	Norfolk Southern Corp		4.150		02/28/48		1,784,329
	500,000	Norfolk Southern Corp		4.100		05/15/49		626,401
	500,000	Norfolk Southern Corp		3.400		11/01/49		554,008
	1,000,000	Norfolk Southern Corp		3.050		05/15/50		1,063,790
	175,000	Norfolk Southern Corp		4.050		08/15/52		213,822
	1,170,000	Norfolk Southern Corp		3.155		05/15/55		1,239,509
	500,000	Ryder System, Inc		3.500		06/01/21		510,230
	500,000	Ryder System, Inc		2.875		06/01/22		518,048
	500,000	Ryder System, Inc		2.500		09/01/22		516,132
	200,000	Ryder System, Inc		3.400		03/01/23		212,145

88

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	200,000		Ryder System, Inc		3.750	%	06/09/23	$	214,963
	200,000		Ryder System, Inc		3.875		12/01/23		218,145
	550,000		Ryder System, Inc		3.650		03/18/24		599,400
	500,000		Ryder System, Inc		2.500		09/01/24		525,404
	300,000		Ryder System, Inc		4.625		06/01/25		344,664
	500,000		Ryder System, Inc		3.350		09/01/25		548,273
	500,000		Ryder System, Inc		2.900		12/01/26		539,384
	200,000		Southwest Airlines Co		2.750		11/16/22		205,714
	1,250,000		Southwest Airlines Co		4.750		05/04/23		1,334,824
	1,250,000		Southwest Airlines Co		5.250		05/04/25		1,376,437
	200,000		Southwest Airlines Co		3.000		11/15/26		200,466
	1,000,000		Southwest Airlines Co		5.125		06/15/27		1,089,196
	200,000		Southwest Airlines Co		3.450		11/16/27		201,885
	300,000		Southwest Airlines Co		2.625		02/10/30		284,135
	73,223		Spirit Airlines, Inc		4.100		04/01/28		65,712
	300,000		Union Pacific Corp		2.950		03/01/22		311,015
	506,000		Union Pacific Corp		4.163		07/15/22		535,317
	500,000		Union Pacific Corp		2.950		01/15/23		525,923
	300,000		Union Pacific Corp		3.500		06/08/23		323,355
	277,000		Union Pacific Corp		3.646		02/15/24		301,997
	300,000		Union Pacific Corp		3.150		03/01/24		323,684
	200,000		Union Pacific Corp		3.750		03/15/24		219,336
	200,000		Union Pacific Corp		3.250		01/15/25		220,076
	500,000		Union Pacific Corp		3.750		07/15/25		569,235
	200,000		Union Pacific Corp		3.250		08/15/25		222,043
	300,000		Union Pacific Corp		2.750		03/01/26		328,941
	500,000		Union Pacific Corp		2.150		02/05/27		531,244
	1,825,000		Union Pacific Corp		3.950		09/10/28		2,151,375
	700,000		Union Pacific Corp		3.700		03/01/29		811,586
	100,000		Union Pacific Corp		3.375		02/01/35		115,426
	100,000		Union Pacific Corp		3.600		09/15/37		115,333
	500,000		Union Pacific Corp		3.550		08/15/39		571,190
	200,000		Union Pacific Corp		4.050		11/15/45		238,224
	200,000		Union Pacific Corp		3.350		08/15/46		222,480
	300,000		Union Pacific Corp		4.000		04/15/47		363,900
	1,000,000		Union Pacific Corp		3.250		02/05/50		1,108,686
	1,070,000		Union Pacific Corp		3.799		10/01/51		1,271,304
	200,000		Union Pacific Corp		3.875		02/01/55		237,941
	300,000		Union Pacific Corp		3.950		08/15/59		354,619
	1,925,000		Union Pacific Corp		3.839		03/20/60		2,232,390
	2,950,000	g	Union Pacific Corp		2.973		09/16/62		2,886,538
	300,000		Union Pacific Corp		4.375		11/15/65		369,789
	200,000		Union Pacific Corp		4.100		09/15/67		235,197
	500,000		Union Pacific Corp		3.750		02/05/70		562,784
	165,665		Union Pacific Railroad Co		2.695		05/12/27		180,455
	500,000		United Parcel Service, Inc		2.350		05/16/22		515,263
	1,675,000		United Parcel Service, Inc		2.450		10/01/22		1,749,269
	500,000		United Parcel Service, Inc		2.200		09/01/24		529,432
	300,000		United Parcel Service, Inc		2.800		11/15/24		326,037
	125,000		United Parcel Service, Inc		2.400		11/15/26		136,683
	875,000		United Parcel Service, Inc		3.050		11/15/27		987,397
	500,000		United Parcel Service, Inc		3.400		03/15/29		577,281
	500,000		United Parcel Service, Inc		2.500		09/01/29		546,328
	750,000		United Parcel Service, Inc		4.450		04/01/30		939,432

89

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	510,000	United Parcel Service, Inc		6.200	%	01/15/38	$	766,460
	450,000	United Parcel Service, Inc		3.625		10/01/42		518,964
	400,000	United Parcel Service, Inc		3.400		11/15/46		448,599
	1,550,000	United Parcel Service, Inc		3.750		11/15/47		1,868,782
	300,000	United Parcel Service, Inc		4.250		03/15/49		382,501
	500,000	United Parcel Service, Inc		3.400		09/01/49		567,308
	1,130,000	United Parcel Service, Inc		5.300		04/01/50		1,662,861
		TOTAL TRANSPORTATION						140,520,306
UTILITIES - 2.2%
	200,000	AEP Texas, Inc		2.400		10/01/22		207,127
	200,000	AEP Texas, Inc		3.950		06/01/28		231,028
	550,000	AEP Texas, Inc		2.100		07/01/30		564,613
	200,000	AEP Texas, Inc		3.800		10/01/47		228,575
	100,000	AEP Texas, Inc		4.150		05/01/49		119,820
	200,000	AEP Transmission Co LLC		3.100		12/01/26		225,006
	600,000	AEP Transmission Co LLC		4.000		12/01/46		726,387
	500,000	AEP Transmission Co LLC		3.750		12/01/47		584,446
	200,000	AEP Transmission Co LLC		4.250		09/15/48		253,588
	300,000	AEP Transmission Co LLC		3.800		06/15/49		353,776
	200,000	Alabama Power Co		2.450		03/30/22		205,523
	475,000	Alabama Power Co		3.550		12/01/23		519,475
	575,000	Alabama Power Co		1.450		09/15/30		576,705
	200,000	Alabama Power Co		3.850		12/01/42		234,819
	400,000	Alabama Power Co		3.750		03/01/45		461,410
	300,000	Alabama Power Co		4.300		01/02/46		375,091
	350,000	Alabama Power Co		3.700		12/01/47		412,595
	1,000,000	Alabama Power Co		4.300		07/15/48		1,278,677
	300,000	Ameren Corp		2.700		11/15/20		300,249
	350,000	Ameren Corp		2.500		09/15/24		370,657
	600,000	Ameren Illinois Co		2.700		09/01/22		621,498
	300,000	Ameren Illinois Co		3.800		05/15/28		350,501
	125,000	Ameren Illinois Co		4.150		03/15/46		157,974
	1,150,000	Ameren Illinois Co		3.700		12/01/47		1,350,136
	575,000	Ameren Illinois Co		4.500		03/15/49		762,678
	300,000	American Electric Power Co, Inc		3.650		12/01/21		310,632
	350,000	American Electric Power Co, Inc		3.200		11/13/27		384,929
	700,000	American Electric Power Co, Inc		4.300		12/01/28		826,044
	500,000	American Electric Power Co, Inc		2.300		03/01/30		514,816
	500,000	American Water Capital Corp		3.850		03/01/24		545,486
	300,000	American Water Capital Corp		3.400		03/01/25		332,076
	200,000	American Water Capital Corp		2.950		09/01/27		221,120
	500,000	American Water Capital Corp		3.750		09/01/28		584,081
	750,000	American Water Capital Corp		3.450		06/01/29		859,943
	100,000	American Water Capital Corp		2.800		05/01/30		109,460
	225,000	American Water Capital Corp		4.300		12/01/42		276,775
	150,000	American Water Capital Corp		4.300		09/01/45		187,378
	100,000	American Water Capital Corp		4.000		12/01/46		120,708
	1,175,000	American Water Capital Corp		3.750		09/01/47		1,384,525
	500,000	American Water Capital Corp		4.200		09/01/48		625,973
	500,000	American Water Capital Corp		4.150		06/01/49		626,628
	175,000	American Water Capital Corp		3.450		05/01/50		195,742
	200,000	Appalachian Power Co		3.300		06/01/27		219,804

90

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	300,000		Appalachian Power Co		4.500	%	03/01/49	$	374,221
	775,000		Appalachian Power Co		3.700		05/01/50		880,104
	125,000		Aqua America, Inc		3.566		05/01/29		141,720
	200,000		Aqua America, Inc		4.276		05/01/49		246,552
	200,000		Arizona Public Service Co		2.950		09/15/27		217,949
	750,000		Arizona Public Service Co		2.600		08/15/29		807,479
	350,000		Arizona Public Service Co		4.500		04/01/42		436,929
	200,000		Arizona Public Service Co		4.350		11/15/45		247,245
	410,000		Arizona Public Service Co		3.750		05/15/46		466,813
	200,000		Arizona Public Service Co		4.200		08/15/48		246,715
	200,000		Arizona Public Service Co		4.250		03/01/49		248,744
	300,000		Arizona Public Service Co		3.500		12/01/49		332,913
	500,000		Arizona Public Service Co		3.350		05/15/50		549,355
	750,000		Arizona Public Service Co		2.650		09/15/50		738,211
	900,000		Atlantic City Electric Co		4.000		10/15/28		1,067,468
	650,000		Atmos Energy Corp		3.000		06/15/27		723,157
	500,000		Atmos Energy Corp		2.625		09/15/29		551,937
	750,000	h	Atmos Energy Corp		1.500		01/15/31		746,507
	100,000		Atmos Energy Corp		5.500		06/15/41		140,677
	125,000		Atmos Energy Corp		4.150		01/15/43		155,294
	600,000		Atmos Energy Corp		4.125		10/15/44		742,071
	500,000		Atmos Energy Corp		4.300		10/01/48		643,043
	300,000		Atmos Energy Corp		4.125		03/15/49		381,451
	500,000		Atmos Energy Corp		3.375		09/15/49		565,588
	500,000		Avangrid, Inc		3.150		12/01/24		545,080
	300,000		Avangrid, Inc		3.200		04/15/25		330,118
	625,000		Avangrid, Inc		3.800		06/01/29		721,491
	150,000		Avista Corp		4.350		06/01/48		189,132
	100,000		Baltimore Gas & Electric Co		3.500		11/15/21		102,679
	200,000		Baltimore Gas & Electric Co		2.400		08/15/26		217,072
	150,000		Baltimore Gas & Electric Co		3.500		08/15/46		170,558
	200,000		Baltimore Gas & Electric Co		3.750		08/15/47		235,171
	200,000		Baltimore Gas & Electric Co		4.250		09/15/48		253,690
	500,000		Baltimore Gas & Electric Co		3.200		09/15/49		537,056
	775,000		Baltimore Gas & Electric Co		2.900		06/15/50		791,826
	200,000		Berkshire Hathaway Energy Co		2.800		01/15/23		210,376
	350,000		Berkshire Hathaway Energy Co		3.500		02/01/25		387,624
	175,000		Berkshire Hathaway Energy Co		3.250		04/15/28		198,317
	950,000		Berkshire Hathaway Energy Co		6.125		04/01/36		1,354,283
	1,032,000		Berkshire Hathaway Energy Co		5.950		05/15/37		1,465,074
	725,000		Berkshire Hathaway Energy Co		5.150		11/15/43		994,079
	975,000		Berkshire Hathaway Energy Co		4.500		02/01/45		1,219,239
	1,250,000		Berkshire Hathaway Energy Co		3.800		07/15/48		1,449,861
	1,025,000		Berkshire Hathaway Energy Co		4.450		01/15/49		1,304,069
	200,000		Black Hills Corp		4.250		11/30/23		219,400
	100,000		Black Hills Corp		3.950		01/15/26		108,882
	100,000		Black Hills Corp		3.150		01/15/27		107,207
	550,000		Black Hills Corp		2.500		06/15/30		568,360
	300,000		Black Hills Corp		4.350		05/01/33		360,230
	200,000		Black Hills Corp		4.200		09/15/46		239,740
	400,000		CenterPoint Energy Houston Electric LLC		2.250		08/01/22		412,626
	200,000		CenterPoint Energy Houston Electric LLC		2.400		09/01/26		215,568
	300,000		CenterPoint Energy Houston Electric LLC		3.000		02/01/27		329,913
	100,000		CenterPoint Energy Houston Electric LLC		6.950		03/15/33		151,687

91

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	300,000		CenterPoint Energy Houston Electric LLC		3.950	%	03/01/48	$	370,841
	750,000		CenterPoint Energy Houston Electric LLC		4.250		02/01/49		966,657
	150,000		CenterPoint Energy Houston Electric LLC		2.900		07/01/50		160,619
	200,000		CenterPoint Energy Resources Corp		4.000		04/01/28		228,839
	575,000	h	CenterPoint Energy Resources Corp		1.750		10/01/30		575,574
	700,000		CenterPoint Energy Resources Corp		4.100		09/01/47		821,107
	400,000		CenterPoint Energy, Inc		3.600		11/01/21		413,007
	300,000		CenterPoint Energy, Inc		2.500		09/01/22		310,013
	425,000		CenterPoint Energy, Inc		3.850		02/01/24		465,521
	500,000		CenterPoint Energy, Inc		2.500		09/01/24		531,874
	450,000		CenterPoint Energy, Inc		4.250		11/01/28		536,201
	750,000		CenterPoint Energy, Inc		2.950		03/01/30		821,213
	500,000		CenterPoint Energy, Inc		3.700		09/01/49		556,900
	3,200,000	g	Cheniere Corpus Christi Holdings LLC		3.700		11/15/29		3,324,010
	425,000		Cleco Corporate Holdings LLC		3.743		05/01/26		453,310
	300,000		Cleco Corporate Holdings LLC		3.375		09/15/29		304,071
	200,000		Cleco Corporate Holdings LLC		4.973		05/01/46		221,274
	790,000		CMS Energy Corp		3.450		08/15/27		884,634
	250,000		Commonwealth Edison Co		2.550		06/15/26		271,913
	1,355,000		Commonwealth Edison Co		2.950		08/15/27		1,506,769
	300,000		Commonwealth Edison Co		3.700		08/15/28		348,580
	500,000		Commonwealth Edison Co		2.200		03/01/30		534,929
	200,000		Commonwealth Edison Co		3.800		10/01/42		232,263
	300,000		Commonwealth Edison Co		4.700		01/15/44		395,978
	100,000		Commonwealth Edison Co		3.700		03/01/45		116,367
	250,000		Commonwealth Edison Co		3.650		06/15/46		294,486
	400,000		Commonwealth Edison Co		3.750		08/15/47		477,737
	1,175,000		Commonwealth Edison Co		4.000		03/01/48		1,442,324
	1,300,000		Commonwealth Edison Co		4.000		03/01/49		1,603,648
	500,000		Commonwealth Edison Co		3.200		11/15/49		548,433
	500,000		Commonwealth Edison Co		3.000		03/01/50		533,241
	750,000		Community Health Network, Inc		3.099		05/01/50		716,834
	625,000		Connecticut Light & Power Co		3.200		03/15/27		697,102
	400,000		Connecticut Light & Power Co		4.300		04/15/44		502,247
	250,000		Connecticut Light & Power Co		4.150		06/01/45		311,591
	775,000		Connecticut Light & Power Co		4.000		04/01/48		979,025
	200,000		Consolidated Edison Co of New York, Inc		3.800		05/15/28		230,326
	300,000		Consolidated Edison Co of New York, Inc		4.000		12/01/28		356,272
	100,000		Consolidated Edison Co of New York, Inc		3.350		04/01/30		115,169
	200,000		Consolidated Edison Co of New York, Inc		4.200		03/15/42		237,222
	550,000		Consolidated Edison Co of New York, Inc		3.950		03/01/43		637,913
	1,475,000		Consolidated Edison Co of New York, Inc		4.450		03/15/44		1,825,820
	150,000		Consolidated Edison Co of New York, Inc		4.500		12/01/45		187,674
	400,000		Consolidated Edison Co of New York, Inc		3.850		06/15/46		468,794
	400,000		Consolidated Edison Co of New York, Inc		3.875		06/15/47		464,896
	300,000		Consolidated Edison Co of New York, Inc		4.650		12/01/48		389,208
	500,000		Consolidated Edison Co of New York, Inc		4.125		05/15/49		598,745
	700,000		Consolidated Edison Co of New York, Inc		3.950		04/01/50		846,873
	850,000		Consolidated Edison Co of New York, Inc		4.625		12/01/54		1,110,108
	200,000		Consolidated Edison Co of New York, Inc		4.300		12/01/56		250,231
	1,300,000		Consolidated Edison Co of New York, Inc		4.000		11/15/57		1,547,412
	400,000		Consolidated Edison Co of New York, Inc		4.500		05/15/58		517,254
	1,000,000		Consolidated Edison Co of New York, Inc		3.700		11/15/59		1,144,693

92

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	200,000		Consumers Energy Co		3.375	%	08/15/23	$	215,488
	250,000		Consumers Energy Co		3.800		11/15/28		297,788
	600,000		Consumers Energy Co		3.950		07/15/47		735,608
	600,000		Consumers Energy Co		4.050		05/15/48		752,157
	350,000		Consumers Energy Co		4.350		04/15/49		460,681
	500,000		Consumers Energy Co		3.750		02/15/50		611,922
	500,000		Consumers Energy Co		3.100		08/15/50		544,351
	150,000		Consumers Energy Co		3.500		08/01/51		175,098
	1,000,000		Consumers Energy Co		2.500		05/01/60		937,202
	300,000		Dayton Power & Light Co		3.950		06/15/49		320,879
	200,000		Delmarva Power & Light Co		4.150		05/15/45		243,652
	200,000		Dominion Energy Gas Holdings LLC		3.550		11/01/23		215,893
	250,000		Dominion Energy Gas Holdings LLC		2.500		11/15/24		265,689
	200,000		Dominion Energy Gas Holdings LLC		3.600		12/15/24		220,339
	750,000		Dominion Energy Gas Holdings LLC		3.000		11/15/29		825,630
	200,000		Dominion Energy Gas Holdings LLC		4.800		11/01/43		248,742
	200,000		Dominion Energy Gas Holdings LLC		4.600		12/15/44		247,855
	550,000		Dominion Energy Gas Holdings LLC		3.900		11/15/49		635,670
	300,000		Dominion Energy, Inc		3.300		03/15/25		330,599
	1,750,000		Dominion Energy, Inc		3.900		10/01/25		1,987,428
	775,000		Dominion Energy, Inc		3.600		03/15/27		881,131
	500,000		Dominion Energy, Inc		4.250		06/01/28		588,502
	303,000		Dominion Energy, Inc		3.375		04/01/30		341,313
	200,000		Dominion Energy, Inc		4.700		12/01/44		256,478
	500,000		Dominion Energy, Inc		4.600		03/15/49		666,283
	350,000		Dominion Energy, Inc (Step Bond)		2.715		08/15/21		356,404
	225,000		Dominion Energy, Inc (Step Bond)		3.071		08/15/24		241,905
	200,000		DTE Electric Co		3.650		03/15/24		217,852
	200,000		DTE Electric Co		4.000		04/01/43		241,927
	100,000		DTE Electric Co		3.700		06/01/46		116,583
	500,000		DTE Electric Co		3.750		08/15/47		595,906
	1,000,000		DTE Electric Co		4.050		05/15/48		1,258,732
	525,000		DTE Electric Co		3.950		03/01/49		660,902
	1,000,000		DTE Electric Co		2.950		03/01/50		1,055,991
	350,000		DTE Energy Co		2.600		06/15/22		361,479
	200,000		DTE Energy Co		3.300		06/15/22		208,119
	1,500,000	h	DTE Energy Co		0.550		11/01/22		1,499,480
	1,875,000		DTE Energy Co		3.700		08/01/23		2,026,811
	200,000		DTE Energy Co		3.850		12/01/23		217,599
	200,000		DTE Energy Co		3.500		06/01/24		217,079
	1,000,000		DTE Energy Co		1.050		06/01/25		1,001,419
	350,000		DTE Energy Co		3.400		06/15/29		390,051
	500,000		DTE Energy Co		2.950		03/01/30		537,786
	300,000		Duke Energy Carolinas LLC		3.350		05/15/22		314,562
	200,000		Duke Energy Carolinas LLC		2.500		03/15/23		209,573
	2,000,000		Duke Energy Carolinas LLC		3.050		03/15/23		2,123,390
	200,000		Duke Energy Carolinas LLC		2.950		12/01/26		223,444
	500,000		Duke Energy Carolinas LLC		3.950		11/15/28		600,628
	500,000		Duke Energy Carolinas LLC		2.450		08/15/29		540,982
	125,000		Duke Energy Carolinas LLC		5.300		02/15/40		175,974
	300,000		Duke Energy Carolinas LLC		3.750		06/01/45		353,652
	200,000		Duke Energy Carolinas LLC		3.875		03/15/46		241,503
	1,750,000		Duke Energy Carolinas LLC		3.700		12/01/47		2,067,069
	1,500,000		Duke Energy Carolinas LLC		3.950		03/15/48		1,850,902

93

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	1,000,000	Duke Energy Carolinas LLC		3.200	%	08/15/49	$	1,107,942
	250,000	Duke Energy Corp		1.800		09/01/21		253,022
	300,000	Duke Energy Corp		3.050		08/15/22		312,330
	300,000	Duke Energy Corp		3.950		10/15/23		327,293
	1,000,000	Duke Energy Corp		0.900		09/15/25		1,001,610
	2,700,000	Duke Energy Corp		2.650		09/01/26		2,921,858
	350,000	Duke Energy Corp		3.150		08/15/27		386,148
	1,000,000	Duke Energy Corp		2.450		06/01/30		1,050,555
	300,000	Duke Energy Corp		4.800		12/15/45		380,384
	3,475,000	Duke Energy Corp		3.750		09/01/46		3,954,736
	500,000	Duke Energy Corp		4.200		06/15/49		612,696
	1,200,000	Duke Energy Florida LLC		3.100		08/15/21		1,220,609
	1,200,000	Duke Energy Florida LLC		3.200		01/15/27		1,352,139
	375,000	Duke Energy Florida LLC		6.400		06/15/38		571,622
	500,000	Duke Energy Florida LLC		3.400		10/01/46		560,317
	300,000	Duke Energy Florida LLC		4.200		07/15/48		381,680
	300,000	Duke Energy Indiana LLC		3.750		05/15/46		350,396
	500,000	Duke Energy Indiana LLC		3.250		10/01/49		556,630
	275,000	Duke Energy Indiana LLC		2.750		04/01/50		281,006
	200,000	Duke Energy Ohio, Inc		3.650		02/01/29		232,234
	25,000	Duke Energy Ohio, Inc		2.125		06/01/30		26,244
	200,000	Duke Energy Ohio, Inc		3.700		06/15/46		230,564
	200,000	Duke Energy Ohio, Inc		4.300		02/01/49		252,425
	350,000	Duke Energy Progress LLC		3.000		09/15/21		356,467
	150,000	Duke Energy Progress LLC		2.800		05/15/22		155,026
	300,000	Duke Energy Progress LLC		3.375		09/01/23		324,822
	300,000	Duke Energy Progress LLC		3.250		08/15/25		334,352
	300,000	Duke Energy Progress LLC		3.700		09/01/28		348,411
	5,357,000	Duke Energy Progress LLC		3.450		03/15/29		6,184,646
	400,000	Duke Energy Progress LLC		4.375		03/30/44		507,495
	500,000	Duke Energy Progress LLC		4.150		12/01/44		621,695
	300,000	Duke Energy Progress LLC		4.200		08/15/45		372,686
	500,000	Duke Energy Progress LLC		3.700		10/15/46		587,214
	200,000	Duke Energy Progress LLC		3.600		09/15/47		231,689
	600,000	Duke Energy Progress LLC		2.500		08/15/50		580,180
	200,000	Edison International		2.400		09/15/22		203,864
	300,000	Edison International		3.125		11/15/22		309,401
	800,000	Edison International		3.550		11/15/24		843,300
	750,000	Edison International		5.750		06/15/27		827,712
	300,000	Edison International		4.125		03/15/28		307,642
	200,000	El Paso Electric Co		5.000		12/01/44		237,792
	300,000	Emera US Finance LP		2.700		06/15/21		304,133
	1,075,000	Emera US Finance LP		3.550		06/15/26		1,199,274
	625,000	Emera US Finance LP		4.750		06/15/46		751,783
	50,000	Empresa Nacional de Electricidad S.A.		4.250		04/15/24		53,955
	675,000	Enel Chile S.A.		4.875		06/12/28		796,838
	400,000	Enersis Americas S.A.		4.000		10/25/26		436,504
	175,000	Entergy Arkansas LLC		3.700		06/01/24		192,341
	600,000	Entergy Arkansas LLC		3.500		04/01/26		678,858
	200,000	Entergy Arkansas LLC		4.200		04/01/49		254,610
	425,000	Entergy Arkansas LLC		2.650		06/15/51		427,777
	200,000	Entergy Corp		4.000		07/15/22		210,940
	1,000,000	Entergy Corp		0.900		09/15/25		998,612

94

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	1,300,000	Entergy Corp		2.950	%	09/01/26	$	1,435,133
	175,000	Entergy Corp		2.800		06/15/30		189,419
	500,000	Entergy Corp		3.750		06/15/50		568,464
	200,000	Entergy Louisiana LLC		4.050		09/01/23		218,706
	200,000	Entergy Louisiana LLC		2.400		10/01/26		215,105
	200,000	Entergy Louisiana LLC		3.120		09/01/27		223,334
	500,000	Entergy Louisiana LLC		4.000		03/15/33		625,562
	300,000	Entergy Louisiana LLC		4.200		09/01/48		383,040
	300,000	Entergy Louisiana LLC		4.200		04/01/50		384,362
	500,000	Entergy Louisiana LLC		2.900		03/15/51		525,125
	800,000	Entergy Mississippi LLC		3.850		06/01/49		964,079
	1,000,000	Entergy Texas, Inc		4.000		03/30/29		1,171,445
	575,000	Entergy Texas, Inc		1.750		03/15/31		569,887
	200,000	Entergy Texas, Inc		4.500		03/30/39		248,811
	700,000	Entergy Texas, Inc		3.550		09/30/49		785,396
	225,000	Essential Utilities, Inc		2.704		04/15/30		240,586
	300,000	Essential Utilities, Inc		3.351		04/15/50		319,906
	425,000	Evergy Kansas Central, Inc		3.450		04/15/50		480,487
	150,000	Evergy Metro, Inc		2.250		06/01/30		158,709
	200,000	Evergy, Inc		4.850		06/01/21		203,552
	1,100,000	Evergy, Inc		2.450		09/15/24		1,164,263
	750,000	Evergy, Inc		2.900		09/15/29		804,476
	500,000	Eversource Energy		2.500		03/15/21		504,093
	750,000	Eversource Energy		2.750		03/15/22		773,648
	300,000	Eversource Energy		3.800		12/01/23		329,058
	300,000	Eversource Energy		2.900		10/01/24		324,645
	100,000	Eversource Energy		0.800		08/15/25		99,477
	200,000	Eversource Energy		3.300		01/15/28		223,213
	300,000	Eversource Energy		4.250		04/01/29		359,949
	100,000	Eversource Energy		1.650		08/15/30		99,583
	1,100,000	Eversource Energy		3.450		01/15/50		1,224,369
	1,122,000	Exelon Corp		2.450		04/15/21		1,131,704
	1,200,000	Exelon Corp		3.497		06/01/22		1,255,126
	425,000	Exelon Corp		3.400		04/15/26		475,746
	500,000	Exelon Corp		4.950		06/15/35		618,267
	975,000	Exelon Corp		4.450		04/15/46		1,181,862
	100,000	Exelon Corp		4.700		04/15/50		127,114
	150,000	Exelon Generation Co LLC		3.400		03/15/22		155,473
	200,000	Exelon Generation Co LLC		4.250		06/15/22		211,163
	900,000	Exelon Generation Co LLC		6.250		10/01/39		1,119,395
	625,000	Exelon Generation Co LLC		5.600		06/15/42		738,021
	500,000	FirstEnergy Corp		2.850		07/15/22		512,474
	325,000	FirstEnergy Corp		4.250		03/15/23		345,053
	750,000	FirstEnergy Corp		2.050		03/01/25		758,617
	175,000	FirstEnergy Corp		1.600		01/15/26		173,871
	2,100,000	FirstEnergy Corp		3.900		07/15/27		2,307,763
	750,000	FirstEnergy Corp		2.650		03/01/30		763,555
	125,000	FirstEnergy Corp		2.250		09/01/30		122,166
	325,000	FirstEnergy Corp		7.375		11/15/31		455,362
	1,250,000	FirstEnergy Corp		4.850		07/15/47		1,502,768
	750,000	FirstEnergy Corp		3.400		03/01/50		726,908
	400,000	Florida Power & Light Co		2.750		06/01/23		420,359
	500,000	Florida Power & Light Co		3.250		06/01/24		542,092
	907,000	Florida Power & Light Co		3.125		12/01/25		1,010,095

95

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	100,000		Florida Power & Light Co		4.125	%	02/01/42	$	124,492
	200,000		Florida Power & Light Co		4.050		06/01/42		248,192
	450,000		Florida Power & Light Co		3.800		12/15/42		541,666
	400,000		Florida Power & Light Co		4.050		10/01/44		503,161
	500,000		Florida Power & Light Co		3.700		12/01/47		606,953
	1,675,000		Florida Power & Light Co		3.950		03/01/48		2,118,804
	500,000		Florida Power & Light Co		4.125		06/01/48		650,547
	1,100,000		Florida Power & Light Co		3.990		03/01/49		1,405,195
	400,000		Florida Power & Light Co		3.150		10/01/49		449,350
	768,000		Fortis, Inc		3.055		10/04/26		839,149
	225,000		Georgia Power Co		2.100		07/30/23		234,861
	600,000		Georgia Power Co		2.200		09/15/24		632,854
	100,000		Georgia Power Co		3.250		04/01/26		110,806
	700,000		Georgia Power Co		3.250		03/30/27		771,263
	700,000		Georgia Power Co		2.650		09/15/29		749,112
	625,000		Georgia Power Co		4.300		03/15/42		746,675
	700,000		Georgia Power Co		4.300		03/15/43		831,764
	200,000		Gulf Power Co		3.300		05/30/27		224,667
	250,000		Iberdrola International BV		5.810		03/15/25		296,086
	400,000		Iberdrola International BV		6.750		07/15/36		576,476
	500,000		Indiana Michigan Power Co		3.850		05/15/28		573,250
	225,000		Indiana Michigan Power Co		4.550		03/15/46		286,981
	100,000		Indiana Michigan Power Co		3.750		07/01/47		116,031
	300,000		Indiana Michigan Power Co		4.250		08/15/48		370,145
	500,000		Interstate Power & Light Co		3.250		12/01/24		548,172
	725,000		Interstate Power & Light Co		4.100		09/26/28		865,315
	325,000		Interstate Power & Light Co		3.600		04/01/29		374,278
	125,000		Interstate Power & Light Co		2.300		06/01/30		132,154
	100,000		Interstate Power & Light Co		6.250		07/15/39		142,596
	100,000		Interstate Power & Light Co		3.700		09/15/46		113,000
	300,000		Interstate Power & Light Co		3.500		09/30/49		327,861
	1,000,000		IPALCO Enterprises, Inc		3.700		09/01/24		1,083,300
	100,000	g	IPALCO Enterprises, Inc		4.250		05/01/30		113,073
	300,000		ITC Holdings Corp		2.700		11/15/22		312,879
	300,000		ITC Holdings Corp		3.650		06/15/24		329,909
	100,000		ITC Holdings Corp		3.250		06/30/26		111,627
	900,000		ITC Holdings Corp		3.350		11/15/27		1,006,554
	200,000		Kansas City Power & Light Co		3.650		08/15/25		225,717
	100,000		Kansas City Power & Light Co		5.300		10/01/41		133,046
	650,000		Kansas City Power & Light Co		4.200		06/15/47		803,316
	100,000		Kansas City Power & Light Co		4.200		03/15/48		125,645
	300,000		Kansas City Power & Light Co		4.125		04/01/49		376,512
	300,000		Kentucky Utilities Co		4.375		10/01/45		373,935
	400,000		Kentucky Utilities Co		3.300		06/01/50		435,889
	250,000		KeySpan Corp		5.803		04/01/35		325,823
	300,000		Louisville Gas & Electric Co		4.250		04/01/49		375,727
	1,500,000		MidAmerican Energy Co		3.100		05/01/27		1,680,808
	575,000		MidAmerican Energy Co		3.650		04/15/29		684,673
	200,000		MidAmerican Energy Co		4.800		09/15/43		267,540
	200,000		MidAmerican Energy Co		4.400		10/15/44		253,176
	200,000		MidAmerican Energy Co		4.250		05/01/46		250,831
	500,000		MidAmerican Energy Co		3.950		08/01/47		626,138
	1,000,000		MidAmerican Energy Co		3.650		08/01/48		1,178,255

96

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	300,000		MidAmerican Energy Co		4.250	%	07/15/49	$	388,487
	300,000		MidAmerican Energy Co		3.150		04/15/50		331,620
	500,000		Mississippi Power Co		3.950		03/30/28		573,529
	750,000		Mississippi Power Co		4.250		03/15/42		883,376
	100,000		National Fuel Gas Co		4.900		12/01/21		103,527
	200,000		National Fuel Gas Co		3.750		03/01/23		207,535
	300,000		National Fuel Gas Co		5.200		07/15/25		331,500
	300,000		National Fuel Gas Co		5.500		01/15/26		327,419
	200,000		National Fuel Gas Co		3.950		09/15/27		204,911
	200,000		National Fuel Gas Co		4.750		09/01/28		209,953
	1,000,000		Nevada Power Co		3.700		05/01/29		1,171,804
	500,000		Nevada Power Co		2.400		05/01/30		536,729
	500,000		Nevada Power Co		3.125		08/01/50		535,521
	500,000		NextEra Energy Capital Holdings, Inc		4.500		06/01/21		508,523
	1,500,000		NextEra Energy Capital Holdings, Inc		2.403		09/01/21		1,528,497
	500,000		NextEra Energy Capital Holdings, Inc		2.900		04/01/22		517,695
	300,000		NextEra Energy Capital Holdings, Inc		2.800		01/15/23		315,006
	850,000		NextEra Energy Capital Holdings, Inc		3.150		04/01/24		919,326
	500,000		NextEra Energy Capital Holdings, Inc		2.750		05/01/25		540,086
	750,000		NextEra Energy Capital Holdings, Inc		3.250		04/01/26		838,647
	1,125,000		NextEra Energy Capital Holdings, Inc		3.550		05/01/27		1,266,915
	300,000		NextEra Energy Capital Holdings, Inc		3.500		04/01/29		339,532
	450,000		NextEra Energy Capital Holdings, Inc		2.750		11/01/29		485,310
	1,525,000		NextEra Energy Capital Holdings, Inc		2.250		06/01/30		1,587,066
	1,700,000		NextEra Energy Capital Holdings, Inc		5.650		05/01/79		1,926,391
	500,000		NiSource, Inc		0.950		08/15/25		499,375
	1,000,000		NiSource, Inc		3.490		05/15/27		1,114,003
	750,000		NiSource, Inc		2.950		09/01/29		813,313
	200,000		NiSource, Inc		3.600		05/01/30		227,744
	800,000		NiSource, Inc		1.700		02/15/31		785,328
	77,000		NiSource, Inc		5.950		06/15/41		107,776
	700,000		NiSource, Inc		5.250		02/15/43		917,585
	450,000		NiSource, Inc		4.800		02/15/44		562,472
	815,000		NiSource, Inc		5.650		02/01/45		1,124,757
	350,000		NiSource, Inc		4.375		05/15/47		432,935
	500,000		NiSource, Inc		3.950		03/30/48		580,167
	150,000		Northern States Power Co		2.150		08/15/22		153,742
	300,000		Northern States Power Co		2.600		05/15/23		313,219
	425,000		Northern States Power Co		5.350		11/01/39		602,894
	175,000		Northern States Power Co		3.600		05/15/46		207,924
	1,950,000		Northern States Power Co		3.600		09/15/47		2,309,667
	325,000		Northern States Power Co		2.900		03/01/50		347,144
	750,000		Northern States Power Co		2.600		06/01/51		759,410
	1,000,000		Northwest Pipeline LLC		4.000		04/01/27		1,106,370
	200,000		NorthWestern Corp		4.176		11/15/44		234,608
	200,000		NSTAR Electric Co		2.375		10/15/22		207,027
	1,300,000		NSTAR Electric Co		3.200		05/15/27		1,454,365
	200,000		Nvent Finance Sarl		3.950		04/15/23		208,519
	200,000		Nvent Finance Sarl		4.550		04/15/28		215,725
	500,000		Oglethorpe Power Corp		5.050		10/01/48		589,942
	750,000	g	Oglethorpe Power Corp		3.750		08/01/50		745,321
	500,000		Oglethorpe Power Corp		5.250		09/01/50		602,443
	600,000		Ohio Power Co		5.375		10/01/21		629,083
	500,000		Ohio Power Co		4.150		04/01/48		621,235

97

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	1,500,000		Ohio Power Co		4.000	%	06/01/49	$	1,832,622
	200,000		Oklahoma Gas & Electric Co		3.800		08/15/28		229,159
	500,000		Oklahoma Gas & Electric Co		3.300		03/15/30		562,309
	100,000		Oklahoma Gas & Electric Co		3.250		04/01/30		111,989
	200,000		Oklahoma Gas & Electric Co		4.150		04/01/47		235,196
	200,000		Oklahoma Gas & Electric Co		3.850		08/15/47		227,144
	150,000		Oncor Electric Delivery Co LLC		4.100		06/01/22		157,476
	500,000		Oncor Electric Delivery Co LLC		2.750		06/01/24		536,043
	400,000		Oncor Electric Delivery Co LLC		2.950		04/01/25		436,573
	1,000,000	g	Oncor Electric Delivery Co LLC		0.550		10/01/25		994,569
	750,000		Oncor Electric Delivery Co LLC		3.700		11/15/28		882,120
	1,500,000		Oncor Electric Delivery Co LLC		5.750		03/15/29		1,970,195
	325,000		Oncor Electric Delivery Co LLC		2.750		05/15/30		362,454
	100,000		Oncor Electric Delivery Co LLC		5.250		09/30/40		137,251
	550,000		Oncor Electric Delivery Co LLC		4.550		12/01/41		703,012
	56,000		Oncor Electric Delivery Co LLC		5.300		06/01/42		78,979
	300,000		Oncor Electric Delivery Co LLC		3.750		04/01/45		357,656
	400,000		Oncor Electric Delivery Co LLC		3.800		09/30/47		484,719
	200,000		Oncor Electric Delivery Co LLC		4.100		11/15/48		253,747
	500,000		Oncor Electric Delivery Co LLC		3.800		06/01/49		607,006
	500,000		Oncor Electric Delivery Co LLC		3.100		09/15/49		547,917
	200,000		Oncor Electric Delivery Co LLC		3.700		05/15/50		240,108
	164,000	g	Oncor Electric Delivery Co LLC		5.350		10/01/52		247,866
	137,000		ONE Gas, Inc		3.610		02/01/24		148,965
	100,000		ONE Gas, Inc		2.000		05/15/30		103,594
	100,000		ONE Gas, Inc		4.658		02/01/44		125,005
	500,000		ONE Gas, Inc		4.500		11/01/48		627,140
	1,575,000		ONEOK Partners LP		3.375		10/01/22		1,636,134
	200,000		ONEOK Partners LP		5.000		09/15/23		216,752
	700,000		ONEOK Partners LP		4.900		03/15/25		766,940
	130,000		ONEOK Partners LP		6.650		10/01/36		146,198
	250,000		ONEOK Partners LP		6.850		10/15/37		283,786
	100,000		ONEOK Partners LP		6.125		02/01/41		105,426
	3,000,000		Pacific Gas and Electric Co		1.750		06/16/22		3,002,899
	5,000,000		Pacific Gas and Electric Co		3.150		01/01/26		5,129,556
	3,000,000		Pacific Gas and Electric Co		2.100		08/01/27		2,915,371
	3,000,000		Pacific Gas and Electric Co		4.550		07/01/30		3,250,000
	4,000,000		Pacific Gas and Electric Co		2.500		02/01/31		3,808,548
	1,000,000		Pacific Gas and Electric Co		3.300		08/01/40		913,336
	1,400,000		Pacific Gas and Electric Co		4.950		07/01/50		1,494,227
	3,300,000		Pacific Gas and Electric Co		3.500		08/01/50		2,972,818
	250,000		PacifiCorp		2.950		02/01/22		256,765
	500,000		PacifiCorp		3.500		06/15/29		580,627
	500,000		PacifiCorp		2.700		09/15/30		551,191
	850,000		PacifiCorp		6.000		01/15/39		1,220,342
	300,000		PacifiCorp		4.125		01/15/49		373,764
	1,300,000		PacifiCorp		4.150		02/15/50		1,624,736
	250,000		PacifiCorp		3.300		03/15/51		279,973
	200,000		PECO Energy Co		1.700		09/15/21		202,516
	150,000		PECO Energy Co		2.375		09/15/22		154,994
	200,000		PECO Energy Co		3.150		10/15/25		222,746
	200,000		PECO Energy Co		4.150		10/01/44		249,335
	200,000		PECO Energy Co		3.700		09/15/47		241,695

98

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	1,200,000		PECO Energy Co		3.900	%	03/01/48	$	1,485,923
	125,000		PECO Energy Co		3.000		09/15/49		133,115
	100,000		PECO Energy Co		2.800		06/15/50		103,450
	200,000		Piedmont Natural Gas Co, Inc		4.650		08/01/43		255,874
	100,000		Piedmont Natural Gas Co, Inc		3.350		06/01/50		108,413
	1,000,000		Pinnacle West Capital Corp		1.300		06/15/25		1,014,967
	200,000		Potomac Electric Power Co		3.600		03/15/24		218,239
	900,000		Potomac Electric Power Co		4.150		03/15/43		1,086,894
	300,000		PPL Capital Funding, Inc		4.200		06/15/22		316,235
	200,000		PPL Capital Funding, Inc		3.500		12/01/22		210,865
	400,000		PPL Capital Funding, Inc		3.400		06/01/23		425,944
	1,100,000		PPL Capital Funding, Inc		3.950		03/15/24		1,207,718
	950,000		PPL Capital Funding, Inc		3.100		05/15/26		1,048,888
	500,000		PPL Capital Funding, Inc		4.125		04/15/30		590,060
	1,300,000		PPL Capital Funding, Inc		4.000		09/15/47		1,492,477
	200,000		PPL Electric Utilities Corp		4.125		06/15/44		244,332
	275,000		PPL Electric Utilities Corp		4.150		10/01/45		341,780
	500,000		PPL Electric Utilities Corp		3.950		06/01/47		610,301
	200,000		PPL Electric Utilities Corp		4.150		06/15/48		251,549
	525,000		PPL Electric Utilities Corp		3.000		10/01/49		564,271
	300,000		Progress Energy, Inc		3.150		04/01/22		309,759
	500,000		PSEG Power LLC		3.000		06/15/21		508,114
	1,342,000		PSEG Power LLC		3.850		06/01/23		1,443,764
	150,000		Public Service Co of Colorado		2.250		09/15/22		154,216
	250,000		Public Service Co of Colorado		3.700		06/15/28		291,603
	1,000,000		Public Service Co of Colorado		1.900		01/15/31		1,040,299
	200,000		Public Service Co of Colorado		3.800		06/15/47		243,098
	100,000		Public Service Co of Colorado		4.100		06/15/48		128,228
	300,000		Public Service Co of Colorado		4.050		09/15/49		378,740
	400,000		Public Service Co of Colorado		3.200		03/01/50		453,935
	350,000		Public Service Co of Colorado		2.700		01/15/51		354,817
	100,000		Public Service Co of New Hampshire		3.600		07/01/49		116,268
	300,000		Public Service Electric & Gas Co		3.250		09/01/23		323,602
	300,000		Public Service Electric & Gas Co		2.250		09/15/26		322,377
	450,000		Public Service Electric & Gas Co		3.000		05/15/27		498,417
	250,000		Public Service Electric & Gas Co		3.700		05/01/28		292,586
	500,000		Public Service Electric & Gas Co		3.200		05/15/29		570,674
	500,000		Public Service Electric & Gas Co		2.450		01/15/30		542,338
	200,000		Public Service Electric & Gas Co		3.800		01/01/43		234,447
	600,000		Public Service Electric & Gas Co		3.800		03/01/46		725,958
	200,000		Public Service Electric & Gas Co		3.600		12/01/47		236,070
	250,000		Public Service Electric & Gas Co		4.050		05/01/48		319,574
	500,000		Public Service Electric & Gas Co		3.850		05/01/49		626,766
	575,000		Public Service Electric & Gas Co		3.200		08/01/49		643,983
	500,000		Public Service Electric & Gas Co		3.150		01/01/50		564,273
	175,000		Public Service Electric & Gas Co		2.700		05/01/50		182,261
	425,000		Public Service Electric & Gas Co		2.050		08/01/50		384,796
	500,000		Public Service Enterprise Group, Inc		2.000		11/15/21		507,340
	400,000		Public Service Enterprise Group, Inc		0.800		08/15/25		397,267
	400,000		Public Service Enterprise Group, Inc		1.600		08/15/30		393,373
	1,585,000		Puget Energy, Inc		3.650		05/15/25		1,701,391
	1,000,000	g	Puget Energy, Inc		4.100		06/15/30		1,115,497
	250,000		Puget Sound Energy, Inc		5.757		10/01/39		358,454
	200,000		Puget Sound Energy, Inc		4.300		05/20/45		251,319

99

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	725,000	Puget Sound Energy, Inc		4.223	%	06/15/48	$	903,438
	275,000	Puget Sound Energy, Inc		3.250		09/15/49		307,278
	150,000	San Diego Gas & Electric Co		3.000		08/15/21		153,542
	400,000	San Diego Gas & Electric Co		3.600		09/01/23		431,403
	800,000	San Diego Gas & Electric Co		2.500		05/15/26		862,686
	500,000	San Diego Gas & Electric Co		1.700		10/01/30		495,932
	300,000	San Diego Gas & Electric Co		3.750		06/01/47		344,788
	300,000	San Diego Gas & Electric Co		4.150		05/15/48		364,413
	750,000	San Diego Gas & Electric Co		4.100		06/15/49		906,575
	200,000	Sempra Energy		2.850		11/15/20		200,168
	150,000	Sempra Energy		2.875		10/01/22		155,633
	500,000	Sempra Energy		2.900		02/01/23		523,463
	500,000	Sempra Energy		4.050		12/01/23		547,138
	200,000	Sempra Energy		3.750		11/15/25		225,097
	1,525,000	Sempra Energy		3.250		06/15/27		1,675,006
	675,000	Sempra Energy		3.400		02/01/28		741,988
	825,000	Sempra Energy		3.800		02/01/38		920,691
	125,000	Sempra Energy		6.000		10/15/39		172,122
	850,000	Sempra Energy		4.000		02/01/48		956,504
	869,000	Sierra Pacific Power Co		2.600		05/01/26		946,885
	50,000	South Carolina Electric & Gas Co		5.300		05/15/33		66,440
	125,000	South Carolina Electric & Gas Co		5.450		02/01/41		172,151
	800,000	South Carolina Electric & Gas Co		4.600		06/15/43		1,040,212
	1,475,000	Southern California Edison Co		2.900		03/01/21		1,490,636
	500,000	Southern California Edison Co		2.400		02/01/22		509,742
	100,000	Southern California Edison Co		3.400		06/01/23		106,347
	500,000	Southern California Edison Co		3.700		08/01/25		556,062
	1,000,000	Southern California Edison Co		1.200		02/01/26		994,418
	750,000	Southern California Edison Co		3.650		03/01/28		825,272
	500,000	Southern California Edison Co		4.200		03/01/29		575,686
	600,000	Southern California Edison Co		2.850		08/01/29		630,011
	750,000	Southern California Edison Co		2.250		06/01/30		752,018
	185,000	Southern California Edison Co		6.050		03/15/39		238,374
	300,000	Southern California Edison Co		4.500		09/01/40		342,249
	825,000	Southern California Edison Co		4.650		10/01/43		950,554
	450,000	Southern California Edison Co		3.600		02/01/45		460,880
	1,937,000	Southern California Edison Co		4.000		04/01/47		2,074,082
	1,675,000	Southern California Edison Co		4.125		03/01/48		1,830,988
	500,000	Southern California Edison Co		4.875		03/01/49		604,399
	925,000	Southern California Edison Co		3.650		02/01/50		960,997
	200,000	Southern California Gas Co		3.200		06/15/25		220,561
	200,000	Southern California Gas Co		2.600		06/15/26		216,246
	500,000	Southern California Gas Co		2.550		02/01/30		539,048
	150,000	Southern California Gas Co		3.750		09/15/42		170,159
	500,000	Southern California Gas Co		4.125		06/01/48		622,838
	300,000	Southern California Gas Co		4.300		01/15/49		381,341
	500,000	Southern California Gas Co		3.950		02/15/50		608,291
	425,000	Southern Co		2.950		07/01/23		451,606
	2,325,000	Southern Co		3.250		07/01/26		2,593,274
	500,000	Southern Co		3.700		04/30/30		570,410
	400,000	Southern Co		4.250		07/01/36		463,467
	2,300,000	Southern Co		4.400		07/01/46		2,722,107
	1,000,000	Southern Co		4.000		01/15/51		1,002,773

100

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	200,000	Southern Co Gas Capital Corp		2.450	%	10/01/23	$	210,212
	400,000	Southern Co Gas Capital Corp		3.250		06/15/26		439,929
	500,000	Southern Co Gas Capital Corp		1.750		01/15/31		494,736
	275,000	Southern Co Gas Capital Corp		4.400		06/01/43		326,429
	100,000	Southern Co Gas Capital Corp		3.950		10/01/46		111,649
	900,000	Southern Co Gas Capital Corp		4.400		05/30/47		1,086,516
	550,000	Southern Natural Gas Co		4.400		06/15/21		559,092
	200,000	Southern Power Co		4.150		12/01/25		229,287
	300,000	Southern Power Co		4.950		12/15/46		337,255
	150,000	Southwest Gas Corp		3.700		04/01/28		171,524
	100,000	Southwest Gas Corp		2.200		06/15/30		104,540
	100,000	Southwest Gas Corp		3.800		09/29/46		110,245
	500,000	Southwest Gas Corp		4.150		06/01/49		585,809
	500,000	Southwestern Electric Power Co		2.750		10/01/26		538,058
	675,000	Southwestern Electric Power Co		4.100		09/15/28		786,526
	750,000	Southwestern Electric Power Co		3.850		02/01/48		829,657
	600,000	Southwestern Public Service Co		4.500		08/15/41		753,691
	300,000	Southwestern Public Service Co		3.400		08/15/46		330,873
	225,000	Southwestern Public Service Co		3.700		08/15/47		258,972
	200,000	Southwestern Public Service Co		4.400		11/15/48		255,648
	750,000	Southwestern Public Service Co		3.750		06/15/49		883,290
	300,000	Southwestern Public Service Co		3.150		05/01/50		322,751
	100,000	Tampa Electric Co		4.100		06/15/42		120,502
	175,000	Tampa Electric Co		4.350		05/15/44		217,330
	200,000	Tampa Electric Co		4.300		06/15/48		251,303
	200,000	Tampa Electric Co		4.450		06/15/49		257,761
	575,000	Tampa Electric Co		3.625		06/15/50		667,412
	300,000	TC PipeLines LP		4.375		03/13/25		328,314
	350,000	TC PipeLines LP		3.900		05/25/27		374,964
	200,000	Tucson Electric Power Co		3.050		03/15/25		218,097
	125,000	Tucson Electric Power Co		1.500		08/01/30		123,811
	200,000	Tucson Electric Power Co		4.850		12/01/48		268,928
	500,000	Tucson Electric Power Co		4.000		06/15/50		597,652
	200,000	Union Electric Co		2.950		06/15/27		220,440
	300,000	Union Electric Co		3.500		03/15/29		345,763
	500,000	Union Electric Co		2.950		03/15/30		561,885
	100,000	Union Electric Co		8.450		03/15/39		169,861
	100,000	Union Electric Co		3.900		09/15/42		119,837
	100,000	Union Electric Co		3.650		04/15/45		116,769
	200,000	Union Electric Co		4.000		04/01/48		245,316
	1,000,000	Union Electric Co		3.250		10/01/49		1,122,502
	100,000	United Utilities plc		6.875		08/15/28		128,669
	409,000	Virginia Electric & Power Co		2.750		03/15/23		428,456
	500,000	Virginia Electric & Power Co		3.450		02/15/24		542,047
	1,850,000	Virginia Electric & Power Co		3.150		01/15/26		2,054,526
	900,000	Virginia Electric & Power Co		2.950		11/15/26		1,001,406
	1,750,000	Virginia Electric & Power Co		3.500		03/15/27		1,990,786
	3,000,000	Virginia Electric & Power Co		3.800		04/01/28		3,524,949
	1,000,000	Virginia Electric & Power Co		2.875		07/15/29		1,120,021
	250,000	Virginia Electric & Power Co		4.650		08/15/43		328,518
	400,000	Virginia Electric & Power Co		4.450		02/15/44		520,513
	200,000	Virginia Electric & Power Co		4.200		05/15/45		253,105
	1,100,000	Virginia Electric & Power Co		4.000		11/15/46		1,357,967
	700,000	Virginia Electric & Power Co		3.800		09/15/47		847,480

101

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	400,000	Virginia Electric & Power Co		4.600	%	12/01/48	$	544,903
	500,000	Virginia Electric & Power Co		3.300		12/01/49		575,794
	200,000	Washington Gas Light Co		3.796		09/15/46		230,607
	500,000	Washington Gas Light Co		3.650		09/15/49		567,878
	875,000	WEC Energy Group, Inc		3.375		06/15/21		893,766
	500,000	WEC Energy Group, Inc		3.100		03/08/22		519,308
	1,000,000	WEC Energy Group, Inc		0.550		09/15/23		1,002,551
	1,520,000	WEC Energy Group, Inc		3.550		06/15/25		1,705,516
	100,000	Westar Energy, Inc		2.550		07/01/26		108,357
	500,000	Westar Energy, Inc		4.125		03/01/42		602,716
	175,000	Westar Energy, Inc		4.100		04/01/43		211,088
	375,000	Westar Energy, Inc		3.250		09/01/49		408,672
	175,000	Wisconsin Electric Power Co		2.050		12/15/24		184,457
	200,000	Wisconsin Electric Power Co		5.625		05/15/33		274,171
	200,000	Wisconsin Electric Power Co		4.300		10/15/48		254,717
	325,000	Wisconsin Power & Light Co		3.050		10/15/27		362,102
	500,000	Wisconsin Power & Light Co		3.000		07/01/29		563,078
	225,000	Wisconsin Power & Light Co		3.650		04/01/50		264,220
	200,000	Wisconsin Public Service Corp		3.350		11/21/21		206,825
	200,000	Wisconsin Public Service Corp		4.752		11/01/44		258,978
	300,000	Wisconsin Public Service Corp		3.300		09/01/49		334,369
	300,000	Xcel Energy, Inc		2.400		03/15/21		302,315
	300,000	Xcel Energy, Inc		2.600		03/15/22		308,447
	700,000	Xcel Energy, Inc		0.500		10/15/23		699,241
	750,000	Xcel Energy, Inc		3.350		12/01/26		844,685
	900,000	Xcel Energy, Inc		4.000		06/15/28		1,058,480
	200,000	Xcel Energy, Inc		4.800		09/15/41		249,873
	500,000	Xcel Energy, Inc		3.500		12/01/49		554,131
	1,000,000	Yale Haven Health Services Corp		2.496		07/01/50		974,797
		TOTAL UTILITIES						404,145,769
		TOTAL CORPORATE BONDS						4,807,404,128
		(Cost $4,360,303,044)
GOVERNMENT BONDS - 69.4%
AGENCY SECURITIES - 1.4%
	3,000,000	Federal Farm Credit Bank (FFCB)		2.875		07/17/23		3,221,300
	10,000,000	FFCB		0.300		09/01/23		9,992,917
	1,145,000	FFCB		3.500		12/20/23		1,264,375
	7,000,000	FFCB		0.470		01/22/24		7,000,386
	5,000,000	FFCB		1.650		07/23/35		4,988,746
	6,650,000	Federal Home Loan Bank (FHLB)		0.125		08/12/22		6,645,544
	10,000,000	FHLB		0.500		04/14/25		10,073,612
	13,875,000	FHLB		3.250		11/16/28		16,647,967
	29,500,000	Federal Home Loan Mortgage Corp (FHLMC)		2.375		01/13/22		30,346,521
	3,000,000	FHLMC		0.375		05/05/23		3,012,664
	12,625,000	FHLMC		2.750		06/19/23		13,477,521
	10,000,000	FHLMC		1.500		02/12/25		10,482,649
	6,000,000	FHLMC		0.375		07/21/25		5,999,634
	5,000,000	FHLMC		0.375		09/23/25		4,987,122
	1,000,000	Federal National Mortgage Association (FNMA)		2.625		01/11/22		1,031,789
	7,400,000	FNMA		2.250		04/12/22		7,639,126

102

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	1,291,575	i	FNMA		2.301	%	09/25/22	$	1,321,355
	1,000,000		FNMA		2.000		10/05/22		1,037,207
	10,000,000		FNMA		2.375		01/19/23		10,489,899
	1,000,000		FNMA		2.875		09/12/23		1,077,135
	2,500,000		FNMA		2.500		02/05/24		2,687,197
	5,000,000		FNMA		1.750		07/02/24		5,276,281
	13,700,000		FNMA		2.625		09/06/24		14,956,155
	3,000,000		FNMA		1.625		01/07/25		3,160,699
	4,000,000		FNMA		0.625		04/22/25		4,053,330
	10,000,000		FNMA		0.375		08/25/25		9,966,209
	4,000,000		FNMA		1.875		09/24/26		4,325,054
	10,000,000		FNMA		0.875		08/05/30		9,834,538
	5,000,000		FNMA		6.625		11/15/30		7,677,208
	1,000,000		FNMA		5.625		07/15/37		1,605,000
	500,000		Hashemite Kingdom of Jordan Government AID International Bond		2.503		10/30/20		500,848
	1,300,000		Hashemite Kingdom of Jordan Government AID International Bond		3.000		06/30/25		1,447,216
	1,000,000		Iraq Government AID International Bond		2.149		01/18/22		1,025,406
	800,000		Israel Government AID International Bond		5.500		09/18/23		919,104
	300,000		Israel Government AID International Bond		5.500		04/26/24		355,999
	250,000		NCUA Guaranteed Notes		3.450		06/12/21		254,172
	400,000		Private Export Funding Corp (PEFCO)		2.050		11/15/22		415,108
	250,000		PEFCO		1.750		11/15/24		263,523
	200,000		PEFCO		3.250		06/15/25		223,492
	2,000,000		Tennessee Valley Authority (TVA)		3.875		02/15/21		2,027,592
	750,000		TVA		2.875		09/15/24		826,243
	2,000,000		TVA		0.750		05/15/25		2,036,088
	1,425,000		TVA		2.875		02/01/27		1,618,811
	500,000		TVA		5.880		04/01/36		781,680
	500,000		TVA		5.500		06/15/38		780,803
	4,300,000		TVA		3.500		12/15/42		5,513,868
	1,750,000		TVA		4.625		09/15/60		2,750,977
	300,000		TVA		4.250		09/15/65		454,969
	175,000		Tunisia Government AID International Bonds		1.416		08/05/21		173,289
			TOTAL AGENCY SECURITIES						236,648,328
FOREIGN GOVERNMENT BONDS - 3.8%
	450,000		African Development Bank		2.375		09/23/21		459,364
	2,000,000		African Development Bank		1.625		09/16/22		2,053,402
	500,000		African Development Bank		2.125		11/16/22		519,694
	2,500,000		African Development Bank		0.750		04/03/23		2,530,467
	2,000,000		African Development Bank		3.000		09/20/23		2,160,132
	1,000,000		Asian Development Bank		2.125		11/24/21		1,021,645
	600,000		Asian Development Bank		1.875		02/18/22		613,425
	4,000,000		Asian Development Bank		1.875		07/19/22		4,117,124
	500,000		Asian Development Bank		1.875		08/10/22		515,076
	750,000		Asian Development Bank		1.750		09/13/22		772,111
	2,250,000		Asian Development Bank		1.625		01/24/23		2,321,167
	3,000,000		Asian Development Bank		2.750		03/17/23		3,182,716
	2,250,000		Asian Development Bank		0.250		07/14/23		2,250,863
	2,000,000		Asian Development Bank		0.250		10/06/23		1,996,569
	2,200,000		Asian Development Bank		2.625		01/30/24		2,368,082
	2,000,000		Asian Development Bank		1.500		10/18/24		2,091,991

103

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	500,000	Asian Development Bank		2.000	%	01/22/25	$	534,295
	6,000,000	Asian Development Bank		0.375		09/03/25		5,979,783
	1,500,000	Asian Development Bank		2.000		04/24/26		1,623,825
	1,000,000	Asian Development Bank		2.625		01/12/27		1,124,540
	500,000	Asian Development Bank		2.375		08/10/27		558,280
	500,000	Asian Development Bank		2.500		11/02/27		563,103
	1,000,000	Asian Development Bank		2.750		01/19/28		1,148,170
	75,000	Asian Development Bank		5.820		06/16/28		102,321
	2,575,000	Asian Development Bank		3.125		09/26/28		3,056,119
	2,000,000	Asian Development Bank		1.750		09/19/29		2,155,366
	3,500,000	Asian Development Bank		1.875		01/24/30		3,819,480
	1,000,000	Asian Development Bank		0.750		10/08/30		979,601
	3,000,000	Asian Infrastructure Investment Bank		0.250		09/29/23		2,993,023
	3,000,000	Asian Infrastructure Investment Bank		0.500		05/28/25		3,003,300
	1,925,000	Canada Government International Bond		2.625		01/25/22		1,987,158
	2,000,000	Canada Government International Bond		2.000		11/15/22		2,075,455
	3,000,000	Canada Government International Bond		1.625		01/22/25		3,156,007
	1,715,000	Chile Government International Bond		3.240		02/06/28		1,907,937
	1,000,000	Chile Government International Bond		2.450		01/31/31		1,049,000
	2,000,000	Chile Government International Bond		2.550		01/27/32		2,110,000
	2,613,000	Chile Government International Bond		3.500		01/25/50		2,978,820
	600,000	Colombia Government International Bond		2.625		03/15/23		614,250
	2,250,000	Colombia Government International Bond		4.000		02/26/24		2,399,062
	2,500,000	Colombia Government International Bond		3.875		04/25/27		2,696,275
	3,587,000	Colombia Government International Bond		4.500		03/15/29		4,024,542
	1,225,000	Colombia Government International Bond		3.125		04/15/31		1,255,625
	1,250,000	Colombia Government International Bond		6.125		01/18/41		1,600,000
	1,150,000	Colombia Government International Bond		5.625		02/26/44		1,424,850
	3,100,000	Colombia Government International Bond		5.000		06/15/45		3,611,500
	3,425,000	Colombia Government International Bond		5.200		05/15/49		4,109,589
	1,400,000	Colombia Government International Bond		4.125		05/15/51		1,454,600
	500,000	Corp Andina de Fomento		2.125		09/27/21		506,255
	950,000	Corp Andina de Fomento		3.250		02/11/22		979,830
	527,000	Corp Andina de Fomento		4.375		06/15/22		556,649
	750,000	Corp Andina de Fomento		2.750		01/06/23		780,885
	1,000,000	Corp Andina de Fomento		2.375		05/12/23		1,037,040
	750,000	Corp Andina de Fomento		3.750		11/23/23		814,440
	1,000,000	Corp Andina de Fomento		1.625		09/23/25		1,001,260
	1,000,000	Council of Europe Development Bank		2.625		02/13/23		1,055,341
	1,000,000	Council of Europe Development Bank		2.500		02/27/24		1,072,094
	1,480,000	Council of Europe Development Bank		1.375		02/27/25		1,540,576
	400,000	Development Bank of Japan, Inc		2.000		10/19/21		406,419
	750,000	European Bank for Reconstruction & Development		1.500		11/02/21		760,213
	500,000	European Bank for Reconstruction & Development		1.875		02/23/22		511,342
	1,500,000	European Bank for Reconstruction & Development		2.750		03/07/23		1,590,185
	5,000,000	European Bank for Reconstruction & Development		0.250		07/10/23		5,001,607
	2,000,000	European Bank for Reconstruction & Development		1.625		09/27/24		2,100,423
	14,250,000	European Investment Bank		2.625		05/20/22		14,810,288
	1,000,000	European Investment Bank		2.375		06/15/22		1,036,426
	500,000	European Investment Bank		2.250		08/15/22		518,831
	3,000,000	European Investment Bank		2.500		03/15/23		3,165,265
	7,537,000	European Investment Bank		1.375		05/15/23		7,761,685
	2,440,000	European Investment Bank		0.250		09/15/23		2,438,863

104

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	1,500,000	European Investment Bank		3.125	%	12/14/23	$	1,636,426
	5,000,000	European Investment Bank		3.250		01/29/24		5,490,636
	1,500,000	European Investment Bank		2.625		03/15/24		1,619,948
	4,000,000	European Investment Bank		2.250		06/24/24		4,289,034
	1,500,000	European Investment Bank		2.500		10/15/24		1,630,196
	3,250,000	European Investment Bank		1.625		03/14/25		3,426,200
	3,500,000	European Investment Bank		0.625		07/25/25		3,532,302
	3,000,000	European Investment Bank		0.375		12/15/25		2,992,834
	400,000	European Investment Bank		2.375		05/24/27		445,706
	550,000	European Investment Bank		1.625		10/09/29		589,112
	1,000,000	European Investment Bank		0.875		05/17/30		1,003,916
	2,000,000	European Investment Bank		0.750		09/23/30		1,979,852
	1,705,000	European Investment Bank		4.875		02/15/36		2,571,004
	500,000	Export Development Canada		1.375		10/21/21		506,126
	500,000	Export Development Canada		2.000		05/17/22		514,139
	1,000,000	Export Development Canada		2.500		01/24/23		1,051,534
	4,500,000	Export Development Canada		1.375		02/24/23		4,619,411
	1,000,000	Export Development Canada		2.750		03/15/23		1,060,184
	1,300,000	Export Development Canada		2.625		02/21/24		1,399,819
	300,000	Export-Import Bank of Korea		1.875		10/21/21		304,403
	300,000	Export-Import Bank of Korea		3.500		11/27/21		310,043
	300,000	Export-Import Bank of Korea		5.000		04/11/22		319,896
	3,250,000	Export-Import Bank of Korea		3.000		11/01/22		3,406,641
	1,375,000	Export-Import Bank of Korea		3.625		11/27/23		1,500,212
	500,000	Export-Import Bank of Korea		4.000		01/14/24		550,569
	750,000	Export-Import Bank of Korea		2.875		01/21/25		813,715
	750,000	Export-Import Bank of Korea		1.875		02/12/25		783,831
	1,000,000	Export-Import Bank of Korea		0.750		09/21/25		996,974
	250,000	Export-Import Bank of Korea		3.250		11/10/25		279,213
	500,000	Export-Import Bank of Korea		2.625		05/26/26		545,368
	500,000	Export-Import Bank of Korea		3.250		08/12/26		562,808
	500,000	Export-Import Bank of Korea		2.375		04/21/27		532,444
	1,000,000	Export-Import Bank of Korea		1.250		09/21/30		984,287
	100,000	Finland Government International Bond		6.950		02/15/26		131,202
	1,000,000	FMS Wertmanagement AoeR		2.000		08/01/22		1,032,285
	2,175,000	FMS Wertmanagement AoeR		2.750		01/30/24		2,349,123
	4,500,000	Hungary Government International Bond		5.750		11/22/23		5,156,977
	1,250,000	Hungary Government International Bond		7.625		03/29/41		2,232,442
	1,270,000	Hydro Quebec		9.400		02/01/21		1,307,449
	200,000	Hydro Quebec		8.500		12/01/29		319,870
	750,000	Indonesia Government International Bond		2.950		01/11/23		780,184
	700,000	Indonesia Government International Bond		4.450		02/11/24		774,309
	750,000	Indonesia Government International Bond		3.500		01/11/28		818,865
	900,000	Indonesia Government International Bond		4.750		02/11/29		1,065,685
	1,250,000	Indonesia Government International Bond		3.400		09/18/29		1,365,785
	1,000,000	Indonesia Government International Bond		2.850		02/14/30		1,049,786
	675,000	Indonesia Government International Bond		3.850		10/15/30		764,038
	875,000	Indonesia Government International Bond		4.350		01/11/48		1,006,045
	1,125,000	Indonesia Government International Bond		5.350		02/11/49		1,486,876
	1,000,000	Indonesia Government International Bond		3.700		10/30/49		1,067,176
	1,000,000	Indonesia Government International Bond		3.500		02/14/50		1,056,693
	500,000	Indonesia Government International Bond		4.200		10/15/50		577,264
	500,000	Indonesia Government International Bond		4.450		04/15/70		589,634
	500,000	Inter-American Development Bank		2.125		01/18/22		512,151

105

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	3,775,000	Inter-American Development Bank		3.000	%	09/26/22	$	3,979,591
	3,000,000	Inter-American Development Bank		2.500		01/18/23		3,153,766
	6,000,000	Inter-American Development Bank		0.250		11/15/23		5,989,574
	1,500,000	Inter-American Development Bank		2.625		01/16/24		1,613,625
	500,000	Inter-American Development Bank		2.125		01/15/25		536,385
	5,000,000	Inter-American Development Bank		1.750		03/14/25		5,293,800
	10,000,000	Inter-American Development Bank		0.625		07/15/25		10,089,000
	1,500,000	Inter-American Development Bank		2.000		06/02/26		1,621,020
	1,500,000	Inter-American Development Bank		2.000		07/23/26		1,621,713
	1,000,000	Inter-American Development Bank		2.375		07/07/27		1,113,484
	2,000,000	Inter-American Development Bank		0.625		09/16/27		1,998,392
	2,000,000	Inter-American Development Bank		3.125		09/18/28		2,368,004
	3,000,000	Inter-American Development Bank		2.250		06/18/29		3,359,886
	1,450,000	Inter-American Development Bank		3.200		08/07/42		1,862,502
	300,000	Inter-American Development Bank		4.375		01/24/44		458,612
	1,500,000	International Bank for Reconstruction & Development		2.000		01/26/22		1,535,066
	5,000,000	International Bank for Reconstruction & Development		2.125		07/01/22		5,164,977
	5,000,000	International Bank for Reconstruction & Development		1.875		10/07/22		5,164,950
	5,400,000	International Bank for Reconstruction & Development		7.625		01/19/23		6,303,761
	500,000	International Bank for Reconstruction & Development		2.125		02/13/23		522,183
	3,000,000	International Bank for Reconstruction & Development		1.875		06/19/23		3,130,669
	5,575,000	International Bank for Reconstruction & Development		2.500		03/19/24		5,985,191
	2,000,000	International Bank for Reconstruction & Development		1.500		08/28/24		2,089,963
	1,600,000	International Bank for Reconstruction & Development		2.500		11/25/24		1,740,944
	5,000,000	International Bank for Reconstruction & Development		1.625		01/15/25		5,257,850
	6,000,000	International Bank for Reconstruction & Development		0.375		07/28/25		5,982,209
	4,500,000	International Bank for Reconstruction & Development		2.500		07/29/25		4,945,100
	500,000	International Bank for Reconstruction & Development		3.125		11/20/25		567,278
	2,000,000	International Bank for Reconstruction & Development		1.750		10/23/29		2,161,840
	5,000,000	International Bank for Reconstruction & Development		0.875		05/14/30		5,007,308
	3,000,000	International Bank for Reconstruction & Development		0.750		08/26/30		2,969,437
	834,000	International Bank for Reconstruction & Development		4.750		02/15/35		1,225,254
	500,000	International Finance Corp		2.000		10/24/22		518,389
	1,300,000	International Finance Corp		2.875		07/31/23		1,395,449
	1,500,000	International Finance Corp		1.375		10/16/24		1,561,584
	2,500,000	International Finance Corp		0.375		07/16/25		2,496,477
	5,000,000	International Finance Corp		0.750		08/27/30		4,949,950
	705,000	Israel Government International Bond		4.000		06/30/22		747,868
	300,000	Israel Government International Bond		3.150		06/30/23		321,265
	1,000,000	Israel Government International Bond		2.875		03/16/26		1,101,359
	975,000	Israel Government International Bond		3.250		01/17/28		1,110,831
	600,000	Israel Government International Bond		2.750		07/03/30		662,334
	1,500,000	Israel Government International Bond		4.500		01/30/43		1,955,835
	200,000	Israel Government International Bond		4.125		01/17/48		253,012
	1,800,000	Israel Government International Bond		3.875		07/03/50		2,163,010
	300,000	Israel Government International Bond		4.500		04/03/20		411,809
	500,000	Japan Bank for International Cooperation		2.500		06/01/22		517,922
	1,250,000	Japan Bank for International Cooperation		2.375		07/21/22		1,294,967
	480,000	Japan Bank for International Cooperation		1.625		10/17/22		492,039

106

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	300,000	Japan Bank for International Cooperation		2.375	%	11/16/22	$	312,605
	900,000	Japan Bank for International Cooperation		0.625		05/22/23		905,328
	1,050,000	Japan Bank for International Cooperation		3.375		07/31/23		1,137,050
	1,000,000	Japan Bank for International Cooperation		0.375		09/15/23		998,338
	4,250,000	Japan Bank for International Cooperation		3.375		10/31/23		4,629,461
	2,300,000	Japan Bank for International Cooperation		2.500		05/23/24		2,467,297
	720,000	Japan Bank for International Cooperation		1.750		10/17/24		754,569
	500,000	Japan Bank for International Cooperation		2.125		02/10/25		532,492
	3,000,000	Japan Bank for International Cooperation		0.625		07/15/25		3,004,341
	5,750,000	Japan Bank for International Cooperation		2.750		01/21/26		6,380,679
	400,000	Japan Bank for International Cooperation		2.375		04/20/26		436,660
	1,500,000	Japan Bank for International Cooperation		1.875		07/21/26		1,598,845
	1,000,000	Japan Bank for International Cooperation		2.875		06/01/27		1,133,912
	750,000	Japan Bank for International Cooperation		2.875		07/21/27		852,495
	300,000	Japan Bank for International Cooperation		2.750		11/16/27		339,747
	750,000	Japan Bank for International Cooperation		3.500		10/31/28		901,567
	1,000,000	Japan Bank for International Cooperation		2.000		10/17/29		1,092,553
	350,000	Japan International Cooperation Agency		2.125		10/20/26		376,673
	700,000	Japan International Cooperation Agency		3.375		06/12/28		826,880
	2,000,000	Japan International Cooperation Agency		1.000		07/22/30		1,995,416
	500,000	Korea Development Bank		2.625		02/27/22		514,743
	500,000	Korea Development Bank		3.000		03/19/22		516,707
	200,000	Korea Development Bank		3.000		09/14/22		209,656
	1,000,000	Korea Development Bank		3.375		03/12/23		1,064,770
	500,000	Korea Development Bank		2.750		03/19/23		525,020
	500,000	Korea Development Bank		3.750		01/22/24		547,005
	700,000	Korea Development Bank		3.250		02/19/24		755,342
	1,000,000	Korea Development Bank		2.125		10/01/24		1,049,640
	750,000	Korea Development Bank		1.750		02/18/25		777,337
	200,000	Korea Development Bank		3.375		09/16/25		223,966
	400,000	Korea Development Bank		3.000		01/13/26		441,663
	250,000	Korea Development Bank		2.000		09/12/26		264,716
	500,000	Korea Government International Bond		3.875		09/11/23		547,535
	1,500,000	Korea Government International Bond		2.750		01/19/27		1,646,693
	1,400,000	Korea Government International Bond		4.125		06/10/44		1,937,208
	500,000	Korea Government International Bond		3.875		09/20/48		683,410
	1,500,000	Kreditanstalt fuer Wiederaufbau		2.000		11/30/21		1,531,019
	1,600,000	Kreditanstalt fuer Wiederaufbau		2.625		01/25/22		1,650,701
	1,000,000	Kreditanstalt fuer Wiederaufbau		2.125		03/07/22		1,027,413
	1,000,000	Kreditanstalt fuer Wiederaufbau		2.125		06/15/22		1,032,356
	2,750,000	Kreditanstalt fuer Wiederaufbau		2.000		10/04/22		2,846,660
	2,900,000	Kreditanstalt fuer Wiederaufbau		2.375		12/29/22		3,039,331
	4,600,000	Kreditanstalt fuer Wiederaufbau		1.625		02/15/23		4,749,687
	3,000,000	Kreditanstalt fuer Wiederaufbau		0.250		10/19/23		2,996,099
	8,000,000	Kreditanstalt fuer Wiederaufbau		2.625		02/28/24		8,632,866

107

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	2,000,000	Kreditanstalt fuer Wiederaufbau		2.500	%	11/20/24	$	2,177,157
	7,000,000	Kreditanstalt fuer Wiederaufbau		2.000		05/02/25		7,511,536
	7,750,000	Kreditanstalt fuer Wiederaufbau		2.875		04/03/28		9,015,716
	1,000,000	Kreditanstalt fuer Wiederaufbau		1.750		09/14/29		1,083,580
	5,000,000	Kreditanstalt fuer Wiederaufbau		0.750		09/30/30		4,960,235
	4,300,000	Landwirtschaftliche Rentenbank		3.125		11/14/23		4,676,797
	500,000	Landwirtschaftliche Rentenbank		2.000		01/13/25		533,771
	2,000,000	Landwirtschaftliche Rentenbank		0.500		05/27/25		2,006,740
	750,000	Landwirtschaftliche Rentenbank		2.375		06/10/25		817,027
	1,000,000	Landwirtschaftliche Rentenbank		1.750		07/27/26		1,069,213
	125,000	Landwirtschaftliche Rentenbank		2.500		11/15/27		140,884
	4,000,000	Landwirtschaftliche Rentenbank		0.875		09/03/30		3,998,040
	2,500,000	Mexico Government International Bond		3.900		04/27/25		2,732,500
	5,836,000	Mexico Government International Bond		4.500		04/22/29		6,533,402
	15,936,000	Mexico Government International Bond		3.250		04/16/30		16,262,847
	1,175,000	Mexico Government International Bond		4.750		04/27/32		1,327,750
	461,000	Mexico Government International Bond		6.750		09/27/34		621,198
	8,950,000	Mexico Government International Bond		4.600		02/10/48		9,500,515
	3,405,000	Mexico Government International Bond		4.500		01/31/50		3,592,275
	1,000,000	Mexico Government International Bond		5.000		04/27/51		1,116,000
	950,000	Mexico Government International Bond		5.750		10/12/10		1,095,360
	2,500,000	Nordic Investment Bank		2.250		09/30/21		2,550,072
	2,000,000	Nordic Investment Bank		1.375		10/17/22		2,046,279
	750,000	Nordic Investment Bank		0.375		05/19/23		752,101
	500,000	Nordic Investment Bank		2.875		07/19/23		536,198
	2,000,000	Nordic Investment Bank		0.375		09/11/25		1,993,760
	606,000	North American Development Bank		2.400		10/26/22		626,783
	2,125,000	Panama Government International Bond		4.000		09/22/24		2,321,563
	1,000,000	Panama Government International Bond		3.750		03/16/25		1,091,250
	300,000	Panama Government International Bond		7.125		01/29/26		379,500
	2,000,000	Panama Government International Bond		3.875		03/17/28		2,265,000
	1,450,000	Panama Government International Bond		3.160		01/23/30		1,576,875
	1,000,000	Panama Government International Bond		2.252		09/29/32		1,010,000
	692,000	Panama Government International Bond		6.700		01/26/36		1,004,265
	750,000	Panama Government International Bond		4.500		05/15/47		936,563
	1,750,000	Panama Government International Bond		4.500		04/16/50		2,189,688
	1,450,000	Panama Government International Bond		4.300		04/29/53		1,781,687
	1,500,000	Panama Government International Bond		4.500		04/01/56		1,875,000
	2,000,000	Panama Government International Bond		3.870		07/23/60		2,290,000
	400,000	Peruvian Government International Bond		2.392		01/23/26		419,000
	5,000,000	Peruvian Government International Bond		2.844		06/20/30		5,437,500
	1,000,000	Peruvian Government International Bond		2.783		01/23/31		1,081,510
	1,100,000	Peruvian Government International Bond		6.550		03/14/37		1,662,375
	1,850,000	Peruvian Government International Bond		5.625		11/18/50		2,946,125
	225,000	Philippine Government International Bond		4.200		01/21/24		249,538
	2,219,000	Philippine Government International Bond		3.000		02/01/28		2,440,469
	3,375,000	Philippine Government International Bond		3.750		01/14/29		3,933,484
	1,500,000	Philippine Government International Bond		2.457		05/05/30		1,616,827
	4,083,000	Philippine Government International Bond		3.950		01/20/40		4,826,906

108

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	300,000		Philippine Government International Bond		3.700	%	03/01/41	$	346,332
	3,793,000		Philippine Government International Bond		3.700		02/02/42		4,391,462
	1,500,000		Philippine Government International Bond		2.950		05/05/45		1,582,166
	1,140,000		Poland Government International Bond		5.000		03/23/22		1,217,875
	990,000		Poland Government International Bond		3.000		03/17/23		1,049,157
	1,000,000		Poland Government International Bond		4.000		01/22/24		1,113,090
	2,725,000		Poland Government International Bond		3.250		04/06/26		3,072,024
	2,500,000		Province of Alberta Canada		2.200		07/26/22		2,582,275
	750,000		Province of Alberta Canada		3.350		11/01/23		815,141
	775,000		Province of Alberta Canada		2.950		01/23/24		837,010
	1,500,000		Province of Alberta Canada		1.875		11/13/24		1,579,728
	1,000,000		Province of Alberta Canada		1.000		05/20/25		1,015,943
	925,000		Province of Alberta Canada		3.300		03/15/28		1,078,652
	2,000,000		Province of Alberta Canada		1.300		07/22/30		2,008,887
	200,000		Province of British Columbia Canada		2.650		09/22/21		204,597
	1,800,000		Province of British Columbia Canada		2.000		10/23/22		1,862,739
	500,000		Province of British Columbia Canada		1.750		09/27/24		525,746
	850,000		Province of British Columbia Canada		2.250		06/02/26		926,075
	500,000		Province of Manitoba Canada		2.050		11/30/20		501,450
	1,000,000		Province of Manitoba Canada		2.600		04/16/24		1,073,305
	1,300,000		Province of Manitoba Canada		3.050		05/14/24		1,414,649
	500,000		Province of Manitoba Canada		2.125		06/22/26		538,577
	500,000		Province of New Brunswick Canada		3.625		02/24/28		584,986
	200,000		Province of Nova Scotia Canada		8.250		07/30/22		226,995
	4,000,000		Province of Ontario Canada		2.400		02/08/22		4,112,025
	4,000,000		Province of Ontario Canada		2.550		04/25/22		4,137,080
	800,000		Province of Ontario Canada		2.450		06/29/22		828,752
	1,365,000		Province of Ontario Canada		1.750		01/24/23		1,407,735
	500,000		Province of Ontario Canada		3.400		10/17/23		544,831
	1,000,000		Province of Ontario Canada		3.050		01/29/24		1,086,760
	1,500,000		Province of Ontario Canada		3.200		05/16/24		1,647,495
	1,000,000		Province of Ontario Canada		2.500		04/27/26		1,096,419
	1,000,000		Province of Ontario Canada		2.300		06/15/26		1,089,330
	1,000,000		Province of Ontario Canada		1.050		05/21/27		1,013,708
	2,000,000		Province of Ontario Canada		2.000		10/02/29		2,159,812
	1,000,000	h	Province of Ontario Canada		1.125		10/07/30		994,210
	3,100,000		Province of Quebec Canada		2.625		02/13/23		3,264,025
	200,000		Province of Quebec Canada		7.125		02/09/24		243,716
	875,000		Province of Quebec Canada		2.500		04/09/24		938,534
	500,000		Province of Quebec Canada		2.875		10/16/24		546,716
	2,500,000		Province of Quebec Canada		1.500		02/11/25		2,602,278
	2,000,000		Province of Quebec Canada		0.600		07/23/25		2,003,161
	3,500,000		Province of Quebec Canada		2.500		04/20/26		3,823,147
	500,000		Province of Quebec Canada		2.750		04/12/27		559,858
	201,000		Province of Quebec Canada		7.500		09/15/29		308,245
	1,500,000		Province of Quebec Canada		1.350		05/28/30		1,538,246
	200,000		Province of Saskatchewan Canada		8.500		07/15/22		228,199
	1,600,000		Republic of Italy Government International Bond		6.875		09/27/23		1,866,207
	2,000,000		Republic of Italy Government International Bond		2.375		10/17/24		2,079,890
	1,500,000		Republic of Italy Government International Bond		2.875		10/17/29		1,552,639
	1,599,000		Republic of Italy Government International Bond		5.375		06/15/33		2,014,437
	2,000,000		Republic of Italy Government International Bond		4.000		10/17/49		2,145,036
	2,000,000		State of Israel		2.500		01/15/30		2,163,225
	2,050,000		State of Israel		3.375		01/15/50		2,269,957

109

TIAA-CREF FUNDS – Bond Index Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	400,000		Svensk Exportkredit AB			3.125	%	11/08/21	$	412,534
	500,000		Svensk Exportkredit AB			2.375		03/09/22		514,790
	2,640,000		Svensk Exportkredit AB			1.625		11/14/22		2,711,593
	4,250,000		Svensk Exportkredit AB			2.875		03/14/23		4,512,097
	870,000		Svensk Exportkredit AB			1.750		12/12/23		907,800
	2,000,000		Svensk Exportkredit AB			0.375		07/30/24		1,996,801
	1,000,000		Svensk Exportkredit AB			0.625		05/14/25		1,004,050
	3,000,000		Svensk Exportkredit AB			0.500		08/26/25		2,994,060
	5,374,716		Uruguay Government International Bond			4.375		01/23/31		6,389,194
	500,000		Uruguay Government International Bond			4.125		11/20/45		591,875
	2,063,907		Uruguay Government International Bond			5.100		06/18/50		2,768,215
	2,425,000		Uruguay Government International Bond			4.975		04/20/55		3,225,250
			TOTAL FOREIGN GOVERNMENT BONDS							660,319,782
MORTGAGE BACKED - 26.8%
	2,000,000		Federal Home Loan Bank (FHLB)			0.375		09/04/25		1,999,285
	7,000,000		Federal Home Loan Mortgage Corp (FHLMC)			0.250		08/24/23		7,000,607
	3,250,000		FHLMC			0.250		09/08/23		3,252,037
	18,341	i	FHLMC	DGS1 + 2.250%		3.776		04/01/35		19,089
	2,315	i	FHLMC	DGS1 + 2.125%		3.264		10/01/35		2,324
	42,888	i	FHLMC	DGS1 + 2.255%		3.927		02/01/36		45,407
	10,347	i	FHLMC	LIBOR 12 M + 1.795%		3.083		07/01/36		10,900
	28,302	i	FHLMC	LIBOR 6 M + 1.770%		2.399		09/01/36		29,563
	32,698	i	FHLMC	LIBOR 6 M + 1.595%		2.914		09/01/36		32,982
	30,673	i	FHLMC	DGS1 + 2.248%		3.965		09/01/36		31,196
	11,213	i	FHLMC	DGS1 + 2.250%		3.801		01/01/37		11,870
	2,308	i	FHLMC	LIBOR 12 M + 1.765%		3.765		02/01/37		2,350
	1,908	i	FHLMC	DGS1 + 2.250%		3.783		02/01/37		2,014
	110,796	i	FHLMC	LIBOR 12 M + 1.808%		3.825		03/01/37		116,992
	44,142	i	FHLMC	LIBOR 12 M + 1.701%		3.490		04/01/37		45,030
	87,819	i	FHLMC	DGS1 + 2.250%		3.840		04/01/37		92,931
	10,380	i	FHLMC	LIBOR 12 M + 2.123%		3.950		05/01/37		10,509
	5,140	i	FHLMC	LIBOR 12 M + 1.750%		2.667		06/01/37		5,257
	48,398	i	FHLMC	DGS1 + 2.249%		2.962		06/01/37		48,732
	30,082	i	FHLMC	LIBOR 6 M + 1.270%		1.916		08/01/37		30,246
	20,374	i	FHLMC	LIBOR 6 M + 1.416%		1.913		09/01/37		20,471
	49,675	i	FHLMC	LIBOR 12 M + 0.905%		2.228		09/01/37		50,555
	218	i	FHLMC	LIBOR 12 M + 1.795%		2.463		09/01/37		219
	4,789	i	FHLMC	LIBOR 12 M + 2.058%		4.058		02/01/38		4,834
	22,870	i	FHLMC	LIBOR 12 M + 2.055%		3.805		04/01/38		24,338
	15,839	i	FHLMC	LIBOR 12 M + 2.004%		3.747		06/01/38		16,123
	6,237	i	FHLMC	LIBOR 12 M + 1.625%		2.396		07/01/38		6,494
	5,458	i	FHLMC	LIBOR 12 M + 1.861%		2.814		06/01/40		5,483
	6,742	i	FHLMC	LIBOR 12 M + 1.880%		2.630		07/01/40		6,782
	20,011	i	FHLMC	LIBOR 12 M + 1.893%		3.892		01/01/41		20,294
	3,416	i	FHLMC	LIBOR 12 M + 1.880%		3.630		05/01/41		3,439
	119,571	i	FHLMC	LIBOR 12 M + 1.853%		3.582		08/01/41		122,034
	78,623	i	FHLMC	LIBOR 12 M + 1.750%		3.213		09/01/41		82,022
	15,016	i	FHLMC	LIBOR 12 M + 1.860%		3.975		10/01/41		15,481
	22,753,637		FHLMC			3.000		11/01/49		24,380,850
	22,648,055		FHLMC			3.000		11/01/49		24,091,251
	45,203,889		FHLMC			3.000		02/01/50		48,106,189
	41,920,877		FHLMC			3.500		04/01/50		45,120,587

110

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	7	Federal Home Loan Mortgage Corp Gold (FGLMC)		5.000	%	12/01/20	$	7
	1,375	FGLMC		4.000		05/01/21		1,458
	405	FGLMC		4.500		06/01/21		424
	5	FGLMC		4.500		06/01/21		5
	457	FGLMC		5.000		07/01/21		481
	601	FGLMC		5.500		07/01/21		606
	191,223	FGLMC		3.000		12/01/21		200,560
	1,667	FGLMC		5.000		10/01/22		1,756
	1,191	FGLMC		6.000		11/01/22		1,229
	15,608	FGLMC		5.000		04/01/23		16,454
	1,140	FGLMC		4.500		05/01/23		1,205
	15,834	FGLMC		5.000		05/01/23		17,310
	4,159	FGLMC		5.000		10/01/23		4,385
	2,357	FGLMC		5.500		10/01/23		2,614
	4,344	FGLMC		5.000		11/01/23		4,749
	8,882	FGLMC		5.000		03/01/24		9,710
	1,853	FGLMC		4.500		04/01/24		1,954
	907	FGLMC		4.500		05/01/24		958
	6,420	FGLMC		4.500		06/01/24		6,829
	58,675	FGLMC		4.000		07/01/24		62,204
	24,506	FGLMC		4.000		07/01/24		25,980
	6,633	FGLMC		5.500		07/01/24		6,917
	50,650	FGLMC		4.000		08/01/24		53,688
	8,821	FGLMC		4.500		09/01/24		9,329
	4,502	FGLMC		4.500		09/01/24		4,789
	2,458	FGLMC		4.500		09/01/24		2,614
	2,826	FGLMC		5.500		09/01/24		3,134
	74,169	FGLMC		4.000		10/01/24		78,635
	2,196	FGLMC		4.500		10/01/24		2,335
	10,736	FGLMC		4.500		10/01/24		11,592
	1,725	FGLMC		4.500		11/01/24		1,816
	8,349	FGLMC		4.500		12/01/24		8,867
	4,186	FGLMC		4.500		02/01/25		4,397
	104,167	FGLMC		4.000		03/01/25		110,543
	2,959	FGLMC		4.500		06/01/25		3,140
	5,443	FGLMC		4.500		07/01/25		5,790
	136,271	FGLMC		3.500		10/01/25		144,222
	66,594	FGLMC		4.000		10/01/25		70,620
	228,073	FGLMC		3.500		11/01/25		241,373
	142,804	FGLMC		3.500		11/01/25		151,112
	60,780	FGLMC		3.500		12/01/25		64,320
	32,476	FGLMC		3.000		01/01/26		34,094
	476,780	FGLMC		3.500		01/01/26		504,632
	39,353	FGLMC		4.000		04/01/26		41,816
	85,134	FGLMC		4.000		05/01/26		90,559
	17,810	FGLMC		5.500		07/01/26		19,752
	234,820	FGLMC		4.000		08/01/26		249,400
	2,231	FGLMC		6.000		08/01/26		2,487
	84,771	FGLMC		3.000		09/01/26		89,044
	238,959	FGLMC		3.000		10/01/26		251,285
	341,484	FGLMC		3.500		10/01/26		361,726
	8,674	FGLMC		5.000		10/01/26		9,487
	2,338	FGLMC		5.500		10/01/26		2,593
	1,382,008	FGLMC		3.000		02/01/27		1,453,208

111

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	889,879	FGLMC		2.500	%	05/01/27	$	931,659
	954,487	FGLMC		2.500		11/01/27		999,335
	35,789	FGLMC		6.000		12/01/27		39,950
	750,644	FGLMC		2.500		01/01/28		784,865
	1,961,681	FGLMC		2.500		03/01/28		2,054,056
	48,407	FGLMC		5.000		03/01/28		53,436
	1,094,560	FGLMC		2.500		05/01/28		1,146,135
	5,189	FGLMC		5.500		05/01/28		5,764
	3,120,438	FGLMC		2.500		07/01/28		3,294,374
	2,765,269	FGLMC		2.500		07/01/28		2,895,177
	708,963	FGLMC		3.000		10/01/28		744,799
	36,439	FGLMC		5.500		01/01/29		40,456
	2,002	FGLMC		6.500		01/01/29		2,239
	6,765	FGLMC		4.000		02/01/29		7,248
	1,490,616	FGLMC		3.500		03/01/29		1,585,088
	374	FGLMC		6.500		03/01/29		422
	2,826,479	FGLMC		3.000		07/01/29		2,971,644
	8,984	FGLMC		6.500		07/01/29		10,052
	10,406	FGLMC		5.000		12/01/29		11,699
	7,920,441	FGLMC		2.500		05/01/30		8,292,230
	19,027	FGLMC		4.000		08/01/30		20,453
	136,705	FGLMC		4.500		01/01/31		150,846
	339	FGLMC		8.000		01/01/31		350
	129,038	FGLMC		4.000		03/01/31		140,590
	16,808	FGLMC		4.000		05/01/31		18,322
	116,642	FGLMC		4.500		05/01/31		128,697
	59,369	FGLMC		4.000		06/01/31		64,711
	146,891	FGLMC		4.000		08/01/31		159,755
	157,897	FGLMC		4.000		09/01/31		170,810
	2,290	FGLMC		6.500		09/01/31		2,570
	7,051	FGLMC		8.000		09/01/31		8,347
	80,697	FGLMC		3.500		11/01/31		85,798
	11,803,058	FGLMC		2.500		12/01/31		12,356,238
	37,979	FGLMC		7.000		12/01/31		44,097
	10,942	FGLMC		6.500		01/01/32		12,678
	26,225	FGLMC		6.000		02/01/32		30,818
	1,288,777	FGLMC		3.000		03/01/32		1,364,622
	11,249	FGLMC		7.000		04/01/32		13,124
	9,178	FGLMC		6.500		05/01/32		10,269
	903,895	FGLMC		3.500		09/01/32		977,285
	6,530	FGLMC		5.500		11/01/32		7,638
	13,907,348	FGLMC		3.000		01/01/33		14,601,238
	8,726	FGLMC		6.000		02/01/33		10,148
	33,966	FGLMC		5.000		03/01/33		38,675
	15,491	FGLMC		6.000		03/01/33		17,323
	18,347	FGLMC		6.000		03/01/33		20,492
	15,977	FGLMC		5.000		04/01/33		17,610
	4,106	FGLMC		6.000		04/01/33		4,824
	220,124	FGLMC		5.000		06/01/33		242,323
	78,794	FGLMC		5.500		06/01/33		92,575
	50,392,053	FGLMC		2.500		07/01/33		52,677,864
	1,758,959	FGLMC		3.500		07/01/33		1,902,017
	32,579	FGLMC		4.500		07/01/33		35,897

112

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	6,057,176	FGLMC		4.000	%	08/01/33	$	6,432,249
	3,148	FGLMC		5.000		08/01/33		3,618
	11,214	FGLMC		6.500		08/01/33		13,346
	105,063	FGLMC		5.000		09/01/33		121,055
	68,824	FGLMC		5.500		09/01/33		79,667
	40,108	FGLMC		5.500		09/01/33		46,106
	13,001	FGLMC		5.500		09/01/33		14,703
	43,697	FGLMC		5.500		09/01/33		49,436
	20,426	FGLMC		4.000		10/01/33		21,946
	6,049	FGLMC		5.000		10/01/33		6,955
	84,311	FGLMC		5.500		10/01/33		98,704
	5,245,490	FGLMC		3.500		11/01/33		5,551,784
	55,976	FGLMC		5.500		12/01/33		65,691
	18,595	FGLMC		5.500		12/01/33		21,880
	226,204	FGLMC		7.000		12/01/33		264,809
	178,841	FGLMC		5.000		01/01/34		205,882
	1,895,826	FGLMC		3.000		02/01/34		1,989,998
	3,952	FGLMC		5.500		02/01/34		4,654
	22,548	FGLMC		5.000		03/01/34		25,907
	24,193	FGLMC		5.500		03/01/34		28,495
	73,622	FGLMC		5.000		05/01/34		84,654
	26,453	FGLMC		4.500		06/01/34		29,160
	59,033	FGLMC		5.000		06/01/34		67,855
	16,240	FGLMC		5.500		06/01/34		19,106
	10,313	FGLMC		6.000		06/01/34		11,787
	37,458	FGLMC		6.000		09/01/34		44,417
	3,347,099	FGLMC		3.500		10/01/34		3,610,645
	5,634	FGLMC		5.000		11/01/34		6,482
	215,091	FGLMC		5.500		11/01/34		252,875
	189,695	FGLMC		5.000		12/01/34		217,860
	37,945	FGLMC		5.500		12/01/34		44,726
	7,592	FGLMC		5.500		12/01/34		8,425
	3,062	FGLMC		5.500		01/01/35		3,605
	1,562	FGLMC		5.500		01/01/35		1,841
	23,327	FGLMC		5.500		01/01/35		27,424
	75,773	FGLMC		4.500		04/01/35		83,542
	9,733	FGLMC		6.000		05/01/35		11,539
	80,619	FGLMC		6.000		05/01/35		91,961
	61,439	FGLMC		7.000		05/01/35		71,251
	15,207	FGLMC		5.500		06/01/35		17,918
	10,362	FGLMC		5.500		06/01/35		12,214
	4,742	FGLMC		5.000		07/01/35		5,423
	275,754	FGLMC		5.000		07/01/35		317,318
	33,038	FGLMC		6.000		07/01/35		36,851
	366,079	FGLMC		5.000		08/01/35		421,312
	14,153	FGLMC		5.500		08/01/35		15,699
	81,868	FGLMC		6.000		08/01/35		91,321
	4,980	FGLMC		4.500		09/01/35		5,515
	52,484	FGLMC		5.000		10/01/35		59,923
	29,654	FGLMC		5.000		10/01/35		34,102
	19,113	FGLMC		5.000		10/01/35		21,884
	177,215	FGLMC		5.500		10/01/35		197,336
	42,151	FGLMC		5.000		12/01/35		48,235
	6,134	FGLMC		5.000		12/01/35		7,061

113

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	23,898	FGLMC		6.000	%	01/01/36	$	28,258
	11,910	FGLMC		5.000		02/01/36		13,716
	4,806	FGLMC		5.000		02/01/36		5,532
	5,516	FGLMC		6.000		02/01/36		6,538
	39,262	FGLMC		5.500		04/01/36		44,788
	12,502	FGLMC		5.500		05/01/36		14,703
	196,533	FGLMC		6.000		06/01/36		232,865
	54,831	FGLMC		5.000		07/01/36		63,006
	91,763	FGLMC		6.000		07/01/36		108,620
	11,842	FGLMC		6.000		08/01/36		13,959
	6,625	FGLMC		6.000		09/01/36		7,400
	196,376	FGLMC		5.500		10/01/36		227,162
	105,628	FGLMC		5.500		10/01/36		123,459
	20,787	FGLMC		6.500		10/01/36		24,034
	9,373	FGLMC		5.500		11/01/36		10,900
	22,731	FGLMC		6.000		11/01/36		26,939
	141,930	FGLMC		6.000		12/01/36		166,883
	191,055	FGLMC		5.500		03/01/37		222,289
	70,019	FGLMC		6.000		03/01/37		82,348
	7,704	FGLMC		6.500		03/01/37		8,924
	66,631	FGLMC		5.500		04/01/37		77,503
	10,540	FGLMC		5.000		05/01/37		12,122
	8,032	FGLMC		5.000		06/01/37		9,154
	31,802	FGLMC		5.500		06/01/37		37,013
	10,828,169	FGLMC		3.000		07/01/37		11,383,958
	116,005	FGLMC		6.000		07/01/37		136,307
	54,042	FGLMC		6.000		08/01/37		63,716
	19,868	FGLMC		6.000		09/01/37		23,292
	172,446	FGLMC		5.500		10/01/37		195,370
	5,922	FGLMC		6.000		11/01/37		6,973
	63,625	FGLMC		6.500		11/01/37		72,675
	25,441	FGLMC		6.000		01/01/38		29,811
	10,101	FGLMC		6.000		02/01/38		11,821
	76,095	FGLMC		6.000		02/01/38		89,722
	118,849	FGLMC		5.000		03/01/38		136,791
	343,036	FGLMC		5.000		03/01/38		395,043
	13,631	FGLMC		5.000		04/01/38		15,696
	141,115	FGLMC		5.000		04/01/38		162,426
	170,800	FGLMC		5.500		04/01/38		197,877
	35,584	FGLMC		5.500		05/01/38		41,242
	4,077	FGLMC		5.500		06/01/38		4,726
	7,707	FGLMC		6.000		07/01/38		8,673
	20,552	FGLMC		5.500		08/01/38		24,171
	134,744	FGLMC		5.500		08/01/38		156,713
	16,858	FGLMC		5.000		09/01/38		19,390
	230,388	FGLMC		5.500		09/01/38		266,797
	65,526	FGLMC		5.500		09/01/38		75,841
	4,365	FGLMC		5.500		10/01/38		5,038
	83,587	FGLMC		6.000		11/01/38		97,550
	581,316	FGLMC		5.500		01/01/39		675,098
	449,799	FGLMC		4.500		02/01/39		504,855
	242,791	FGLMC		5.000		02/01/39		279,318
	16,245	FGLMC		5.500		02/01/39		18,801

114

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	920	FGLMC		4.500	%	03/01/39	$	1,005
	100,126	FGLMC		5.000		03/01/39		115,160
	11,666	FGLMC		6.000		03/01/39		13,626
	674,728	FGLMC		4.500		04/01/39		757,867
	20,012	FGLMC		4.500		04/01/39		22,679
	172,937	FGLMC		4.000		05/01/39		190,956
	4,473	FGLMC		4.500		05/01/39		5,021
	102,329	FGLMC		4.500		05/01/39		115,082
	2,215,973	FGLMC		4.500		05/01/39		2,493,698
	231,523	FGLMC		4.500		05/01/39		260,129
	88,635	FGLMC		5.000		05/01/39		101,881
	228,506	FGLMC		4.000		06/01/39		252,162
	1,022,056	FGLMC		4.500		06/01/39		1,148,189
	35,150	FGLMC		4.500		06/01/39		39,545
	15,293	FGLMC		5.000		06/01/39		17,627
	6,012	FGLMC		5.500		06/01/39		6,957
	339,491	FGLMC		4.000		07/01/39		373,832
	134,904	FGLMC		4.500		07/01/39		151,330
	26,511	FGLMC		4.500		07/01/39		29,775
	11,648	FGLMC		4.500		07/01/39		13,069
	85,898	FGLMC		5.000		07/01/39		98,947
	131,681	FGLMC		5.500		07/01/39		152,392
	12,075	FGLMC		4.500		08/01/39		13,547
	27,267	FGLMC		5.000		08/01/39		31,391
	149,033	FGLMC		4.000		09/01/39		164,249
	639,760	FGLMC		5.000		09/01/39		736,040
	221,024	FGLMC		5.000		09/01/39		253,973
	4,435	FGLMC		5.500		09/01/39		5,098
	256,229	FGLMC		6.500		09/01/39		293,734
	61,956	FGLMC		4.500		10/01/39		70,547
	42,322	FGLMC		4.500		10/01/39		47,976
	94,082	FGLMC		4.500		10/01/39		105,707
	29,522	FGLMC		5.000		10/01/39		33,990
	19,457	FGLMC		4.000		11/01/39		21,466
	60,936	FGLMC		4.500		11/01/39		68,363
	22,808	FGLMC		5.000		11/01/39		26,199
	10,086	FGLMC		5.000		11/01/39		11,047
	61,925	FGLMC		4.500		12/01/39		69,553
	125,882	FGLMC		4.500		12/01/39		141,476
	56,174	FGLMC		4.500		12/01/39		63,194
	244,450	FGLMC		4.500		12/01/39		275,217
	93,782	FGLMC		5.500		12/01/39		108,606
	123,988	FGLMC		4.500		01/01/40		139,523
	12,121	FGLMC		5.000		01/01/40		13,957
	16,551	FGLMC		5.500		01/01/40		19,159
	40,424	FGLMC		5.500		03/01/40		46,868
	598,846	FGLMC		4.000		04/01/40		657,636
	27,356	FGLMC		4.500		04/01/40		30,799
	91,201	FGLMC		4.500		04/01/40		102,438
	67,966	FGLMC		5.000		04/01/40		78,331
	164,363	FGLMC		5.000		04/01/40		189,428
	524,050	FGLMC		6.000		04/01/40		614,225
	1,513,891	FGLMC		4.500		05/01/40		1,698,533
	837,262	FGLMC		5.000		05/01/40		964,933

115

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	4,562	FGLMC		4.500	%	06/01/40	$	5,130
	392,063	FGLMC		5.500		06/01/40		454,317
	690,570	FGLMC		4.500		07/01/40		774,785
	13,868	FGLMC		4.500		08/01/40		15,567
	140,193	FGLMC		5.000		08/01/40		161,174
	364,179	FGLMC		5.000		08/01/40		419,710
	37,286	FGLMC		5.000		08/01/40		42,868
	2,071,820	FGLMC		5.500		08/01/40		2,399,330
	206,891	FGLMC		4.000		09/01/40		227,920
	2,534,833	FGLMC		4.000		11/01/40		2,798,358
	1,507,060	FGLMC		4.000		12/01/40		1,664,389
	279,414	FGLMC		3.500		01/01/41		301,525
	430,118	FGLMC		3.500		01/01/41		465,489
	242,934	FGLMC		4.000		01/01/41		267,643
	249,896	FGLMC		3.500		02/01/41		268,485
	955,359	FGLMC		4.000		02/01/41		1,051,937
	349,069	FGLMC		4.000		02/01/41		384,337
	1,556,981	FGLMC		4.000		04/01/41		1,717,150
	269,861	FGLMC		4.500		04/01/41		303,568
	59,029	FGLMC		5.000		04/01/41		68,033
	261,479	FGLMC		4.500		05/01/41		293,814
	287,158	FGLMC		4.500		06/01/41		321,202
	819,422	FGLMC		3.500		10/01/41		884,381
	620,257	FGLMC		5.000		10/01/41		714,882
	1,132,548	FGLMC		3.500		11/01/41		1,235,257
	392,398	FGLMC		4.500		12/01/41		440,261
	3,648,671	FGLMC		3.500		01/01/42		3,934,584
	1,084,392	FGLMC		3.500		02/01/42		1,172,776
	1,213,079	FGLMC		3.500		04/01/42		1,303,084
	2,525,337	FGLMC		4.000		05/01/42		2,791,275
	7,392,249	FGLMC		4.500		05/01/42		8,314,735
	1,644,823	FGLMC		3.500		07/01/42		1,790,061
	465,939	FGLMC		3.000		08/01/42		494,581
	2,963,406	FGLMC		3.000		10/01/42		3,153,950
	1,990,043	FGLMC		3.000		10/01/42		2,119,637
	832,949	FGLMC		3.500		12/01/42		903,673
	2,708,594	FGLMC		2.500		01/01/43		2,886,491
	5,677,024	FGLMC		3.000		01/01/43		6,047,943
	8,624,031	FGLMC		3.000		04/01/43		9,187,588
	19,286,688	FGLMC		3.000		04/01/43		20,552,157
	2,616,269	FGLMC		3.500		05/01/43		2,831,935
	3,436,701	FGLMC		3.000		08/01/43		3,661,116
	2,222,770	FGLMC		3.000		08/01/43		2,367,934
	2,739,081	FGLMC		3.500		08/01/43		2,962,487
	1,080,356	FGLMC		4.500		10/01/43		1,212,917
	1,457,249	FGLMC		4.000		11/01/43		1,599,729
	2,801,375	FGLMC		3.500		02/01/44		3,003,579
	2,188,490	FGLMC		4.000		02/01/44		2,402,938
	14,478,980	FGLMC		4.000		02/01/44		15,956,166
	1,024,366	FGLMC		4.000		04/01/44		1,124,814
	1,324,791	FGLMC		4.500		05/01/44		1,481,869
	2,300,916	FGLMC		4.000		06/01/44		2,514,222
	3,585,860	FGLMC		4.000		08/01/44		3,929,713

116

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	2,805,794	FGLMC		3.500	%	09/01/44	$	3,001,446
	3,680,193	FGLMC		3.500		11/01/44		3,946,359
	4,948,357	FGLMC		3.500		12/01/44		5,284,232
	3,147,199	FGLMC		3.500		01/01/45		3,376,347
	6,049,967	FGLMC		3.000		02/01/45		6,380,745
	7,765,638	FGLMC		3.500		03/01/45		8,296,994
	4,099,765	FGLMC		4.000		03/01/45		4,474,995
	2,953,246	FGLMC		3.000		04/01/45		3,117,546
	5,841,025	FGLMC		3.500		04/01/45		6,276,912
	13,771,662	FGLMC		3.500		07/01/45		14,893,283
	9,485,116	FGLMC		4.500		07/01/45		10,446,560
	27,809,464	FGLMC		3.000		08/01/45		29,610,982
	20,601,903	FGLMC		3.500		10/01/45		22,725,169
	5,015,365	FGLMC		4.000		11/01/45		5,456,557
	9,932,623	FGLMC		3.500		12/01/45		10,601,268
	22,739,730	FGLMC		3.000		03/01/46		23,912,549
	7,765,080	FGLMC		3.500		03/01/46		8,279,675
	3,679,443	FGLMC		4.000		03/01/46		3,997,652
	17,028,622	FGLMC		3.000		04/01/46		17,904,632
	18,089,365	FGLMC		3.500		05/01/46		19,406,375
	11,820,453	FGLMC		3.500		08/01/46		12,630,917
	23,538,519	FGLMC		3.000		09/01/46		24,850,215
	9,094,689	FGLMC		4.000		09/01/46		9,706,528
	8,630,412	FGLMC		3.000		11/01/46		9,076,888
	31,144,786	FGLMC		3.000		11/01/46		32,652,436
	9,376,466	FGLMC		3.000		11/01/46		9,863,160
	5,962,205	FGLMC		3.000		12/01/46		6,272,856
	8,190,052	FGLMC		3.500		12/01/46		8,713,732
	12,726,470	FGLMC		3.000		02/01/47		13,348,373
	5,000,828	FGLMC		3.500		02/01/47		5,309,469
	4,329,391	FGLMC		4.000		02/01/47		4,659,086
	9,289,688	FGLMC		3.500		05/01/47		9,831,947
	5,321,605	FGLMC		3.000		08/01/47		5,581,810
	7,213,035	FGLMC		3.000		11/01/47		7,554,022
	12,251,613	FGLMC		3.000		12/01/47		12,830,792
	23,458,685	FGLMC		3.000		01/01/48		25,135,724
	13,756,869	FGLMC		3.000		02/01/48		14,407,207
	10,443,785	FGLMC		3.500		03/01/48		11,056,221
	10,897,824	FGLMC		3.500		05/01/48		11,515,487
	8,323,972	FGLMC		4.000		05/01/48		8,909,914
	12,179,925	FGLMC		3.500		07/01/48		12,832,680
	12,600,877	FGLMC		4.000		07/01/48		13,430,662
	22,711,129	FGLMC		4.000		08/01/48		24,202,468
	4,017,348	FGLMC		4.500		09/01/48		4,343,694
	18,469,371	FGLMC		4.000		10/01/48		19,682,269
	10,593,070	FGLMC		4.500		12/01/48		11,451,218
	5,921,710	FGLMC		4.500		02/01/49		6,402,049
	15,284,573	FGLMC		3.500		05/01/49		16,104,595
	3	Federal National Mortgage Association (FNMA)		4.500		11/01/20		3
	421	FNMA		5.000		12/01/20		443
	2	FNMA		5.000		03/01/21		2
	1,535	FNMA		5.500		08/01/21		1,552
	309	FNMA		6.000		08/01/21		314
	58	FNMA		5.000		10/01/21		61

117

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	3	FNMA		5.000	%	11/01/21	$	3
	131	FNMA		5.500		11/01/21		132
	2,171	FNMA		5.500		10/01/22		2,235
	1,238	FNMA		6.000		10/01/22		1,278
	654	FNMA		5.000		03/01/23		689
	16,570	FNMA		4.500		06/01/23		17,477
	1,893	FNMA		5.000		06/01/23		1,995
	2,961	FNMA		5.500		06/01/23		3,283
	2,767	FNMA		5.000		07/01/23		2,914
	25,412	FNMA		5.000		07/01/23		26,788
	5,250,000	FNMA		0.250		07/10/23		5,248,331
	2,602	FNMA		5.500		08/01/23		2,720
	5,933	FNMA		5.000		11/01/23		6,485
	72	FNMA		5.500		11/01/23		73
	21,847	FNMA		5.500		01/01/24		22,240
	6,349	FNMA		5.500		02/01/24		7,040
	26,479	FNMA		4.000		03/01/24		28,063
	2,333	FNMA		4.500		04/01/24		2,478
	104,549	FNMA		4.000		05/01/24		110,807
	31,241	FNMA		4.000		05/01/24		33,115
	2,797	FNMA		4.000		06/01/24		2,964
	3,516	FNMA		4.500		07/01/24		3,727
	3,694	FNMA		5.500		07/01/24		4,096
	80	FNMA		8.000		07/01/24		88
	18,607	FNMA		4.500		08/01/24		19,577
	20,183	FNMA		4.000		09/01/24		21,408
	72,557	FNMA		4.000		09/01/24		76,957
	6,702	FNMA		4.500		09/01/24		7,127
	174,600	FNMA		4.500		10/01/24		185,678
	10,124	FNMA		5.000		01/01/25		11,069
	15,100	FNMA		4.500		02/01/25		16,059
	96,111	FNMA		4.500		03/01/25		101,102
	1,799	FNMA		4.500		03/01/25		1,887
	44,498	FNMA		5.000		03/01/25		48,655
	30,975	FNMA		4.500		04/01/25		32,924
	77,556	FNMA		4.500		04/01/25		82,260
	394,414	FNMA		4.000		05/01/25		418,108
	142,022	FNMA		4.000		06/01/25		150,594
	84,370	FNMA		4.500		06/01/25		89,389
	40,393	FNMA		4.000		08/01/25		42,842
	21,535	FNMA		5.500		08/01/25		24,102
	164,097	FNMA		3.500		09/01/25		173,445
	193,858	FNMA		4.000		09/01/25		205,474
	306,653	FNMA		3.500		10/01/25		324,431
	257,205	FNMA		3.500		10/01/25		272,112
	103,922	FNMA		5.000		10/01/25		113,665
	173,620	FNMA		4.000		11/01/25		184,208
	264,170	FNMA		3.500		12/01/25		279,504
	203,673	FNMA		3.500		02/01/26		215,405
	1,177,094	FNMA		3.500		02/01/26		1,244,917
	63,699	FNMA		4.000		03/01/26		67,724
	179,215	FNMA		4.000		06/01/26		190,560
	168,754	FNMA		3.500		08/01/26		178,572

118

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	129,977	FNMA		3.500	%	09/01/26	$	137,504
	69,800	FNMA		4.000		09/01/26		74,187
	213,659	FNMA		3.500		10/01/26		226,088
	4,872	FNMA		6.000		10/01/26		5,433
	301,340	FNMA		3.000		11/01/26		315,967
	268,476	FNMA		3.000		12/01/26		281,929
	722,820	FNMA		3.000		01/01/27		759,243
	770,598	FNMA		4.000		01/01/27		816,732
	569,561	FNMA		3.500		02/01/27		602,995
	892,451	FNMA		3.000		04/01/27		937,809
	582,507	FNMA		3.000		04/01/27		611,950
	341,283	FNMA		3.500		05/01/27		363,316
	351,294	FNMA		2.500		06/01/27		366,963
	991,764	FNMA		3.000		06/01/27		1,042,442
	431,018	FNMA		2.500		07/01/27		450,867
	922,442	FNMA		2.500		09/01/27		965,216
	10,516	FNMA		5.500		09/01/27		11,664
	1,556,329	FNMA		2.500		10/01/27		1,628,298
	969,916	FNMA		3.000		11/01/27		1,019,412
	1,833	FNMA		5.500		01/01/28		2,037
	3,795,441	FNMA		2.500		02/01/28		4,007,559
	3,003,312	FNMA		2.500		02/01/28		3,142,934
	1,377	FNMA		5.000		02/01/28		1,517
	2,219,086	FNMA		2.500		04/01/28		2,320,296
	3,290,660	FNMA		2.500		04/01/28		3,443,414
	8,333	FNMA		5.500		06/01/28		9,248
	883,843	FNMA		2.500		07/01/28		924,980
	1,779,485	FNMA		2.500		08/01/28		1,862,188
	2,430,234	FNMA		3.000		10/01/28		2,551,061
	1,440	FNMA		5.500		11/01/28		1,597
	8	FNMA		7.500		01/01/29		8
	2,879,977	FNMA		3.000		03/01/29		3,024,870
	11,841	FNMA		4.000		03/01/29		12,675
	10,297,937	FNMA		3.000		04/01/29		10,941,055
	40,991	FNMA		4.500		04/01/29		44,647
	33,094	FNMA		4.000		05/01/29		35,453
	16,857	FNMA		4.500		06/01/29		18,373
	5,693	FNMA		4.000		07/01/29		6,132
	107,099	FNMA		4.500		08/01/29		116,741
	12,946,139	FNMA		3.500		09/01/29		14,093,147
	21,223	FNMA		4.500		09/01/29		23,133
	24,381	FNMA		4.500		11/01/29		26,484
	5,836	FNMA		4.500		01/01/30		6,435
	1,803,827	FNMA		2.500		02/01/30		1,886,667
	14,250	FNMA		4.000		03/01/30		15,319
	6,324	FNMA		4.500		05/01/30		6,972
	8,943	FNMA		4.500		06/01/30		9,858
	4,066,201	FNMA		3.000		07/01/30		4,275,423
	82,867	FNMA		4.500		08/01/30		91,369
	18,030	FNMA		4.000		09/01/30		19,390
	120,934	FNMA		4.000		10/01/30		130,062
	1,020,514	FNMA		4.000		11/01/30		1,097,433
	177,270	FNMA		4.000		11/01/30		193,196
	38,800	FNMA		4.500		12/01/30		42,779

119

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	3,772,880	FNMA		3.000	%	02/01/31	$	3,960,331
	57,880	FNMA		3.500		02/01/31		62,085
	62,364	FNMA		4.000		02/01/31		67,983
	507	FNMA		7.500		03/01/31		610
	4,613,324	FNMA		2.500		04/01/31		4,826,594
	173,085	FNMA		3.500		04/01/31		183,969
	19,390	FNMA		4.000		04/01/31		21,128
	3,817,470	FNMA		3.000		05/01/31		4,008,687
	1,816	FNMA		6.000		05/01/31		2,124
	4,952,367	FNMA		2.500		06/01/31		5,181,801
	703,562	FNMA		4.500		07/01/31		779,576
	100,935	FNMA		4.500		07/01/31		111,376
	587,389	FNMA		4.000		08/01/31		640,078
	6,294,605	FNMA		2.500		09/01/31		6,587,365
	3,254,877	FNMA		3.000		09/01/31		3,419,009
	40,660	FNMA		4.000		09/01/31		44,303
	302	FNMA		6.500		09/01/31		342
	19,221	FNMA		6.000		11/01/31		22,582
	2,504	FNMA		6.500		11/01/31		2,855
	6,611,995	FNMA		2.500		12/01/31		6,920,269
	1,103,694	FNMA		3.500		01/01/32		1,173,346
	6,611	FNMA		6.000		01/01/32		7,770
	1,312	FNMA		6.000		01/01/32		1,463
	469,109	FNMA		3.500		02/01/32		506,611
	4,265	FNMA		6.000		02/01/32		4,946
	5,027,329	FNMA		3.000		03/01/32		5,274,456
	20,004	FNMA		6.500		04/01/32		23,556
	17,568,227	FNMA		3.000		06/01/32		18,425,800
	37,668	FNMA		6.500		07/01/32		44,438
	6,622	FNMA		6.500		08/01/32		7,444
	519,748	FNMA		3.000		09/01/32		549,247
	16,832	FNMA		7.500		09/01/32		19,611
	1,539,770	FNMA		3.000		10/01/32		1,617,980
	32,176	FNMA		5.500		10/01/32		37,558
	34,379	FNMA		6.000		10/01/32		38,391
	9,796	FNMA		6.000		11/01/32		11,502
	11,615,399	FNMA		3.000		12/01/32		12,187,747
	13,129	FNMA		5.500		12/01/32		15,415
	547	FNMA		5.500		12/01/32		607
	12,743	FNMA		6.000		12/01/32		14,780
	89,235	FNMA		5.500		01/01/33		103,152
	197,701	FNMA		6.000		01/01/33		233,357
	87,666	FNMA		5.000		02/01/33		100,171
	4,160	FNMA		5.000		02/01/33		4,571
	1,084,999	FNMA		3.000		04/01/33		1,146,524
	1,322,441	FNMA		3.500		04/01/33		1,429,547
	4,562	FNMA		6.000		04/01/33		5,353
	9,505,723	FNMA		3.500		05/01/33		10,088,306
	604,743	FNMA		5.500		05/01/33		709,251
	34,425	FNMA		5.000		06/01/33		39,410
	72,733	FNMA		5.500		06/01/33		85,455
	10,772	FNMA		4.500		07/01/33		11,779
	36,813	FNMA		5.000		07/01/33		42,248

120

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	64,420	FNMA		4.500	%	08/01/33	$	70,665
	3,908	FNMA		4.500		08/01/33		4,225
	13,319	FNMA		5.000		08/01/33		15,321
	24,398	FNMA		5.500		09/01/33		27,077
	88,918	FNMA		5.500		09/01/33		98,964
	7,526	FNMA		6.000		09/01/33		8,512
	97,602	FNMA		4.500		10/01/33		107,629
	14,107	FNMA		5.000		10/01/33		16,221
	11,001	FNMA		5.000		10/01/33		12,477
	144,998	FNMA		5.500		10/01/33		163,953
	361,438	FNMA		5.500		10/01/33		425,671
	5,532	FNMA		4.500		11/01/33		6,089
	19,029	FNMA		5.000		11/01/33		21,872
	1,282,800	FNMA		5.000		11/01/33		1,474,540
	148,631	FNMA		5.000		12/01/33		170,714
	174,550	FNMA		5.500		12/01/33		204,884
	1,955,718	FNMA		3.000		01/01/34		2,068,889
	58,421	FNMA		5.000		02/01/34		67,140
	245,157	FNMA		6.000		02/01/34		289,608
	14,472	FNMA		5.000		03/01/34		16,628
	6,177	FNMA		5.000		03/01/34		7,098
	344,069	FNMA		5.000		03/01/34		395,350
	7,912	FNMA		5.000		03/01/34		9,093
	16,831	FNMA		5.000		03/01/34		19,342
	5,086	FNMA		5.000		03/01/34		5,845
	47,113	FNMA		5.000		04/01/34		54,139
	51,792	FNMA		5.500		04/01/34		59,834
	25,823	FNMA		4.500		05/01/34		28,224
	13,145	FNMA		4.500		05/01/34		14,478
	18,739	FNMA		5.500		07/01/34		22,066
	12,063	FNMA		5.500		07/01/34		14,204
	18,359	FNMA		7.000		07/01/34		21,428
	139,387	FNMA		5.000		08/01/34		160,176
	15,769	FNMA		5.000		08/01/34		18,119
	14,734	FNMA		6.000		08/01/34		17,424
	82,268	FNMA		6.000		08/01/34		97,423
	8,804	FNMA		4.500		09/01/34		9,702
	289,419	FNMA		5.500		09/01/34		340,700
	2,943	FNMA		5.500		11/01/34		3,468
	9,265	FNMA		6.000		11/01/34		10,334
	23,943,236	FNMA		2.500		12/01/34		24,997,918
	22,562,845	FNMA		3.000		12/01/34		23,678,288
	4,437	FNMA		5.000		12/01/34		5,097
	2,705	FNMA		5.500		12/01/34		3,185
	9,669	FNMA		6.000		12/01/34		11,024
	412,954	FNMA		4.500		01/01/35		455,439
	30,207	FNMA		5.500		01/01/35		34,621
	16,925,854	FNMA		3.500		02/01/35		18,070,881
	872,624	FNMA		5.500		02/01/35		1,033,550
	38,103	FNMA		5.500		02/01/35		44,874
	8,770,484	FNMA		2.000		03/01/35		9,113,550
	16,946,483	FNMA		2.500		03/01/35		17,692,963
	219,776	FNMA		5.500		04/01/35		248,192
	36,068	FNMA		6.000		04/01/35		42,730

121

TIAA-CREF FUNDS – Bond Index Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	34,243		FNMA			6.000	%	04/01/35	$	40,552
	42,256		FNMA			6.000		05/01/35		48,669
	14,802		FNMA			5.000		06/01/35		17,015
	1,694	i	FNMA	LIBOR 12 M + 1.570%		2.284		07/01/35		1,716
	43,935		FNMA			5.000		07/01/35		50,520
	4,550,046		FNMA			3.000		08/01/35		4,787,658
	93,203		FNMA			4.500		08/01/35		102,672
	100,688		FNMA			5.000		08/01/35		115,672
	57,913		FNMA			5.000		08/01/35		66,569
	76,411,243		FNMA			2.000		09/01/35		79,443,349
	3,474		FNMA			4.500		09/01/35		3,839
	4,295		FNMA			4.500		09/01/35		4,739
	10,889		FNMA			5.500		09/01/35		12,826
	24,400,000	h	FNMA			1.500		10/01/35		24,970,706
	43,412		FNMA			5.000		10/01/35		48,790
	110,811		FNMA			5.500		10/01/35		130,005
	3,204		FNMA			5.000		11/01/35		3,357
	129,927		FNMA			5.500		11/01/35		151,751
	1,078		FNMA			4.500		12/01/35		1,165
	5,483,953		FNMA			3.500		01/01/36		5,907,065
	38,985	i	FNMA	LIBOR 12 M + 1.535%		3.535		02/01/36		39,167
	313,609		FNMA			5.000		02/01/36		360,751
	146,893		FNMA			6.000		03/01/36		173,763
	2,012,717		FNMA			3.500		05/01/36		2,174,476
	2,540		FNMA			5.000		05/01/36		2,902
	197,380		FNMA			6.000		06/01/36		232,723
	17,566	i	FNMA	LIBOR 12 M + 1.595%		2.345		07/01/36		17,743
	13,663		FNMA			6.000		07/01/36		16,022
	69,270		FNMA			6.500		07/01/36		79,147
	14,841,482		FNMA			3.000		08/01/36		15,616,208
	82,164		FNMA			5.500		08/01/36		91,249
	130,866		FNMA			6.500		08/01/36		156,542
	2,615,503		FNMA			3.000		09/01/36		2,752,387
	10,280		FNMA			5.500		09/01/36		12,093
	3,909		FNMA			6.500		09/01/36		4,477
	12,307		FNMA			6.500		09/01/36		14,735
	18,665		FNMA			6.000		10/01/36		22,095
	5,481,021		FNMA			3.000		11/01/36		5,738,981
	9,107		FNMA			6.500		11/01/36		10,619
	1,358	i	FNMA	LIBOR 12 M + 1.725%		3.975		12/01/36		1,368
	54,364		FNMA			6.000		12/01/36		64,247
	6,874	i	FNMA	LIBOR 12 M + 1.754%		3.795		01/01/37		6,978
	24,029		FNMA			5.500		01/01/37		27,937
	1,734	i	FNMA	LIBOR 6 M + 1.558%		1.963		02/01/37		1,787
	169,169		FNMA			5.500		02/01/37		196,551
	10,099		FNMA			6.000		02/01/37		11,862
	12,617		FNMA			7.000		02/01/37		14,864
	3,343	i	FNMA	LIBOR 12 M + 1.823%		3.823		03/01/37		3,363
	1,464		FNMA			5.000		03/01/37		1,683
	59,882		FNMA			6.500		03/01/37		71,592
	45,188		FNMA			6.500		03/01/37		51,242
	48,271		FNMA			7.000		04/01/37		59,971
	60,220		FNMA			5.000		05/01/37		68,933

122

TIAA-CREF FUNDS – Bond Index Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	3,246		FNMA			7.000	%	05/01/37	$	3,606
	10,082	i	FNMA	LIBOR 12 M + 1.782%		2.864		06/01/37		10,162
	14,535		FNMA			5.500		06/01/37		16,859
	16,294		FNMA			5.500		08/01/37		19,174
	7,040		FNMA			6.000		08/01/37		8,239
	25,128		FNMA			6.500		08/01/37		28,553
	14,885		FNMA			5.500		09/01/37		16,505
	24,433		FNMA			6.000		09/01/37		27,900
	55,694		FNMA			6.000		09/01/37		66,198
	26,317		FNMA			6.000		09/01/37		30,686
	75,035		FNMA			6.000		09/01/37		87,572
	105,527		FNMA			6.000		09/01/37		125,173
	12,931		FNMA			6.500		09/01/37		14,771
	4,224		FNMA			6.500		09/01/37		4,724
	12,353	i	FNMA	DGS1 + 2.275%		4.168		10/01/37		12,408
	10,433		FNMA			6.500		10/01/37		11,817
	116,887		FNMA			5.500		11/01/37		134,844
	212,746		FNMA			6.000		11/01/37		249,104
	3,081		FNMA			7.000		11/01/37		3,232
	5,902,472		FNMA			3.000		12/01/37		6,196,288
	5,575,380		FNMA			4.000		01/01/38		6,025,121
	509		FNMA			6.500		01/01/38		585
	63,885		FNMA			5.500		02/01/38		73,738
	26,519		FNMA			6.500		02/01/38		29,660
	14,755		FNMA			7.000		02/01/38		17,924
	12,639	i	FNMA	LIBOR 12 M + 1.770%		3.770		03/01/38		12,752
	6,022		FNMA			5.000		03/01/38		6,895
	2,574		FNMA			5.000		03/01/38		2,946
	11,607		FNMA			5.500		03/01/38		13,423
	4,254		FNMA			6.000		03/01/38		5,217
	5,274		FNMA			6.500		03/01/38		6,308
	72,810		FNMA			6.500		03/01/38		84,605
	5,062		FNMA			6.500		03/01/38		5,661
	14,985		FNMA			5.000		04/01/38		16,379
	170,185		FNMA			5.500		04/01/38		197,340
	193,037		FNMA			6.000		04/01/38		225,771
	12,774		FNMA			4.500		05/01/38		13,984
	673,621		FNMA			5.000		05/01/38		774,325
	197,991		FNMA			5.000		05/01/38		227,328
	446,909		FNMA			6.000		06/01/38		524,354
	756,772		FNMA			6.500		06/01/38		869,695
	158,165		FNMA			6.000		07/01/38		186,172
	2,094	i	FNMA	LIBOR 12 M + 1.750%		2.375		08/01/38		2,107
	1,853	i	FNMA	LIBOR 12 M + 1.603%		2.475		08/01/38		1,931
	474,861		FNMA			6.000		09/01/38		556,730
	10,721	i	FNMA	LIBOR 12 M + 1.321%		3.571		10/01/38		10,720
	649		FNMA			6.000		10/01/38		727
	5,337		FNMA			5.500		11/01/38		6,054
	2,502		FNMA			5.000		12/01/38		2,864
	462,891		FNMA			5.500		12/01/38		539,072
	71,348		FNMA			4.500		01/01/39		79,982
	57,815		FNMA			5.000		01/01/39		64,952
	1,794,715		FNMA			5.000		01/01/39		2,057,526
	68,523		FNMA			5.500		01/01/39		79,157

123

TIAA-CREF FUNDS – Bond Index Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	257,983		FNMA			5.500	%	01/01/39	$	299,346
	1,574		FNMA			6.000		01/01/39		1,754
	15,403		FNMA			6.000		01/01/39		17,949
	97,249		FNMA			4.500		02/01/39		108,748
	286,457		FNMA			4.500		02/01/39		319,515
	148,451		FNMA			4.500		02/01/39		166,730
	5,073		FNMA			5.500		02/01/39		5,854
	307,316		FNMA			4.000		04/01/39		337,936
	15,334		FNMA			5.500		04/01/39		17,674
	528,614		FNMA			4.500		05/01/39		591,799
	105,782		FNMA			4.500		05/01/39		118,775
	281,395		FNMA			4.500		06/01/39		315,973
	99,044		FNMA			4.500		06/01/39		110,614
	206,976		FNMA			5.500		06/01/39		240,672
	5,804	i	FNMA	LIBOR 12 M + 1.835%		2.800		07/01/39		6,082
	63,554		FNMA			4.500		07/01/39		71,262
	67,493		FNMA			4.500		07/01/39		75,647
	7,216		FNMA			5.000		07/01/39		8,309
	10,890	i	FNMA	LIBOR 12 M + 1.650%		2.356		08/01/39		11,144
	8,821	i	FNMA	LIBOR 12 M + 1.690%		2.401		08/01/39		9,159
	1,058,626		FNMA			4.000		08/01/39		1,165,298
	169,566		FNMA			4.000		08/01/39		186,722
	14,575		FNMA			4.500		08/01/39		16,501
	210,502		FNMA			4.500		08/01/39		235,969
	715,332		FNMA			4.500		08/01/39		804,306
	907,021		FNMA			5.000		08/01/39		1,043,183
	7,876		FNMA			5.000		08/01/39		8,885
	411,454		FNMA			4.000		09/01/39		453,188
	30,186		FNMA			5.000		09/01/39		34,718
	163,376		FNMA			5.500		09/01/39		189,398
	92,344		FNMA			6.000		09/01/39		108,451
	344,534		FNMA			6.500		10/01/39		416,206
	17,836		FNMA			5.000		11/01/39		20,547
	441,857		FNMA			4.000		12/01/39		486,214
	62,905		FNMA			4.500		12/01/39		70,793
	103,145		FNMA			4.500		12/01/39		115,718
	1,556,883		FNMA			4.500		12/01/39		1,745,185
	11,230	i	FNMA	LIBOR 12 M + 1.815%		3.815		01/01/40		11,757
	31,568		FNMA			4.500		01/01/40		35,486
	36,468		FNMA			5.000		01/01/40		42,017
	209,017		FNMA			6.000		02/01/40		244,357
	17,169,545		FNMA			2.500		03/01/40		18,022,168
	311,752		FNMA			4.500		03/01/40		349,859
	157,650		FNMA			4.500		03/01/40		176,880
	15,174		FNMA			5.000		03/01/40		17,482
	22,115,593		FNMA			3.000		04/01/40		23,196,784
	15,984		FNMA			4.500		04/01/40		17,966
	545,487		FNMA			5.000		04/01/40		627,921
	396,919		FNMA			5.000		04/01/40		456,722
	24,387	i	FNMA	LIBOR 12 M + 1.874%		3.649		05/01/40		24,986
	71,568	i	FNMA	LIBOR 12 M + 1.802%		3.694		05/01/40		74,879
	53,289	i	FNMA	LIBOR 12 M + 1.842%		3.833		05/01/40		55,866
	18,282		FNMA			4.500		05/01/40		20,551

124

TIAA-CREF FUNDS – Bond Index Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	14,120,877		FNMA			2.500	%	06/01/40	$	14,822,107
	37,811		FNMA			4.500		07/01/40		42,521
	37,997		FNMA			4.500		07/01/40		42,463
	48,059		FNMA			5.000		07/01/40		55,156
	9,818	i	FNMA	LIBOR 12 M + 1.805%		2.430		08/01/40		9,850
	308,069		FNMA			4.500		08/01/40		345,724
	433,261		FNMA			4.500		08/01/40		486,156
	311,972		FNMA			5.000		08/01/40		358,367
	718,058		FNMA			4.500		09/01/40		805,324
	305,458		FNMA			4.500		09/01/40		342,831
	611,123		FNMA			6.000		09/01/40		723,465
	107,534		FNMA			3.500		10/01/40		115,340
	501,148		FNMA			4.000		10/01/40		549,924
	1,102,628		FNMA			4.000		10/01/40		1,203,551
	732,763		FNMA			4.500		10/01/40		824,585
	980,956		FNMA			3.500		11/01/40		1,058,223
	1,059,343		FNMA			4.000		11/01/40		1,166,247
	980,661		FNMA			4.000		11/01/40		1,081,774
	606,606		FNMA			4.000		11/01/40		668,009
	106,542		FNMA			4.500		11/01/40		119,954
	26,696	i	FNMA	LIBOR 12 M + 1.823%		3.948		12/01/40		26,757
	336,980		FNMA			4.000		12/01/40		371,127
	2,540,421		FNMA			4.500		12/01/40		2,858,394
	35,278		FNMA			3.500		01/01/41		37,887
	176,069		FNMA			3.500		02/01/41		189,898
	34,813	i	FNMA	LIBOR 12 M + 1.801%		3.780		02/01/41		36,426
	915,939		FNMA			4.000		02/01/41		1,008,761
	861,393		FNMA			4.000		03/01/41		949,351
	629,974		FNMA			4.500		04/01/41		708,252
	991,071		FNMA			4.500		05/01/41		1,115,187
	141,832		FNMA			4.500		05/01/41		159,431
	419,682		FNMA			4.500		06/01/41		470,765
	81,005	i	FNMA	LIBOR 12 M + 1.786%		2.878		07/01/41		84,684
	528,293		FNMA			4.500		07/01/41		590,775
	1,403,179		FNMA			4.000		09/01/41		1,539,058
	779,551		FNMA			4.500		09/01/41		877,708
	272,669		FNMA			5.500		09/01/41		317,049
	9,768	i	FNMA	LIBOR 12 M + 1.800%		3.675		10/01/41		9,787
	91,831	i	FNMA	LIBOR 12 M + 1.838%		3.928		10/01/41		96,088
	498,746		FNMA			3.500		11/01/41		540,082
	540,059		FNMA			3.500		11/01/41		579,871
	21,516,070		FNMA			3.500		12/01/41		23,092,554
	3,469,356		FNMA			3.500		12/01/41		3,737,907
	194,154	i	FNMA	LIBOR 12 M + 1.750%		3.517		12/01/41		202,559
	588,056		FNMA			4.000		12/01/41		647,780
	1,574,484		FNMA			3.500		03/01/42		1,703,171
	1,001,527		FNMA			4.000		03/01/42		1,103,675
	2,966,811		FNMA			3.500		04/01/42		3,209,326
	1,109,934		FNMA			3.500		04/01/42		1,235,131
	1,152,014		FNMA			4.500		04/01/42		1,293,221
	1,130,329		FNMA			5.000		04/01/42		1,304,370
	898,184		FNMA			4.000		05/01/42		989,625
	1,011,064		FNMA			5.000		05/01/42		1,151,671
	993,079		FNMA			3.000		06/01/42		1,056,429

125

TIAA-CREF FUNDS – Bond Index Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	4,341,076		FNMA			3.500	%	06/01/42	$	4,697,377
	3,378,032		FNMA			4.000		06/01/42		3,724,005
	2,399,017		FNMA			4.000		06/01/42		2,650,730
	6,756,769		FNMA			3.500		07/01/42		7,305,418
	1,392,074		FNMA			4.500		07/01/42		1,567,086
	1,386,469		FNMA			3.500		08/01/42		1,502,096
	2,351,588		FNMA			3.000		09/01/42		2,501,830
	2,856,109		FNMA			3.500		09/01/42		3,091,072
	13,261,856		FNMA			4.500		09/01/42		14,908,394
	5,049,816		FNMA			3.000		10/01/42		5,379,514
	1,392,430		FNMA			3.500		10/01/42		1,506,975
	2,052,044		FNMA			2.500		01/01/43		2,186,264
	6,668,618		FNMA			3.000		01/01/43		7,108,659
	8,511,085		FNMA			3.000		02/01/43		9,066,095
	23,820,228		FNMA			3.000		04/01/43		25,452,234
	16,537,051		FNMA			3.000		04/01/43		17,614,571
	6,051,214		FNMA			3.000		04/01/43		6,441,089
	2,145,467		FNMA			3.000		04/01/43		2,284,819
	298,723	i	FNMA	LIBOR 12 M + 1.695%		2.577		06/01/43		309,330
	5,876,899		FNMA			3.000		06/01/43		6,255,255
	93,569	i	FNMA	LIBOR 12 M + 1.550%		2.504		07/01/43		96,785
	5,027,551		FNMA			3.000		07/01/43		5,357,649
	13,626,421		FNMA			3.500		07/01/43		14,741,077
	4,288,383		FNMA			3.500		07/01/43		4,638,410
	4,612,615		FNMA			3.000		08/01/43		4,913,912
	2,104,880		FNMA			4.000		08/01/43		2,340,639
	3,718,263		FNMA			3.000		09/01/43		3,997,572
	4,339,562		FNMA			3.500		09/01/43		4,691,557
	3,405,139		FNMA			3.500		10/01/43		3,694,274
	371,287		FNMA			4.500		10/01/43		416,772
	1,108,830		FNMA			4.000		11/01/43		1,221,993
	2,530,495		FNMA			4.000		11/01/43		2,784,704
	778,300		FNMA			4.500		12/01/43		873,185
	2,479,074		FNMA			4.500		12/01/43		2,777,878
	2,922,578		FNMA			4.000		01/01/44		3,219,098
	41,174,168		FNMA			4.000		03/01/44		45,705,047
	1,967,859		FNMA			4.000		05/01/44		2,150,800
	2,066,035		FNMA			4.000		07/01/44		2,255,355
	2,240,290		FNMA			4.000		07/01/44		2,436,144
	1,448,406		FNMA			3.500		09/01/44		1,549,284
	1,835,737		FNMA			4.000		09/01/44		1,995,112
	4,874,656		FNMA			3.500		10/01/44		5,233,502
	11,625,861		FNMA			5.000		11/01/44		13,373,899
	2,180,895		FNMA			4.000		12/01/44		2,368,994
	13,221,912		FNMA			3.000		01/01/45		14,084,481
	3,973,421		FNMA			3.000		01/01/45		4,213,812
	23,590,388		FNMA			3.500		01/01/45		25,451,046
	7,587,400		FNMA			3.500		02/01/45		8,103,373
	5,183,725		FNMA			3.000		04/01/45		5,467,838
	7,905,985		FNMA			3.500		05/01/45		8,434,640
	7,295,804		FNMA			3.500		07/01/45		7,877,118
	8,727,161		FNMA			4.000		07/01/45		9,444,031
	22,414,261		FNMA			3.500		09/01/45		24,255,331

126

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	12,347,657	FNMA		3.000	%	11/01/45	$	12,994,753
	5,664,692	FNMA		3.500		11/01/45		6,043,274
	14,476,401	FNMA		4.000		11/01/45		15,743,676
	5,200,528	FNMA		3.500		12/01/45		5,547,644
	15,269,436	FNMA		3.500		12/01/45		16,288,708
	7,436,169	FNMA		3.500		12/01/45		7,953,256
	20,649,029	FNMA		3.500		01/01/46		22,029,530
	4,144,101	FNMA		3.500		02/01/46		4,420,347
	12,020,495	FNMA		3.500		04/01/46		12,835,263
	6,302,396	FNMA		4.500		05/01/46		6,915,477
	5,234,835	FNMA		3.000		06/01/46		5,505,788
	8,705,203	FNMA		3.500		07/01/46		9,278,434
	13,209,979	FNMA		3.500		08/01/46		14,289,742
	7,773,674	FNMA		4.000		08/01/46		8,380,684
	8,466,076	FNMA		3.000		09/01/46		8,900,879
	9,413,726	FNMA		3.000		10/01/46		9,902,220
	52,559,464	FNMA		3.000		11/01/46		55,248,764
	5,036,885	FNMA		3.500		12/01/46		5,356,213
	59,854,435	FNMA		3.000		01/01/47		62,917,887
	7,191,595	FNMA		3.000		02/01/47		7,559,402
	6,116,513	FNMA		4.000		02/01/47		6,580,994
	9,798,127	FNMA		3.000		03/01/47		10,297,756
	7,605,584	FNMA		3.500		03/01/47		8,058,193
	1,956,415	FNMA		4.000		03/01/47		2,100,550
	1,179,254	FNMA		4.500		03/01/47		1,282,631
	7,899,621	FNMA		3.000		04/01/47		8,337,189
	13,589,495	FNMA		3.000		04/01/47		14,300,514
	10,195,520	FNMA		3.500		04/01/47		10,833,634
	5,136,183	FNMA		3.500		05/01/47		5,439,288
	8,072,657	FNMA		3.500		07/01/47		8,721,533
	23,869,507	FNMA		3.500		11/01/47		25,236,195
	4,070,788	FNMA		4.500		11/01/47		4,431,420
	5,627,254	FNMA		3.500		01/01/48		5,949,187
	20,829,919	FNMA		4.000		01/01/48		22,328,666
	3,078,764	FNMA		3.000		02/01/48		3,225,242
	34,091,260	FNMA		3.500		04/01/48		36,039,622
	7,592,395	FNMA		4.000		04/01/48		8,106,856
	588,218	FNMA		4.500		04/01/48		639,173
	11,076,915	FNMA		3.500		06/01/48		11,665,795
	20,730,635	FNMA		4.000		07/01/48		22,110,876
	13,888,299	FNMA		4.500		07/01/48		15,014,539
	7,992,689	FNMA		4.000		08/01/48		8,514,243
	6,054,485	FNMA		4.000		10/01/48		6,447,852
	8,141,374	FNMA		4.500		10/01/48		8,799,546
	39,324,459	FNMA		3.000		11/01/48		41,384,596
	16,076,766	FNMA		4.000		11/01/48		17,129,016
	5,800,037	FNMA		4.500		11/01/48		6,290,253
	5,937,730	FNMA		4.000		12/01/48		6,326,538
	5,257,947	FNMA		4.500		01/01/49		5,681,057
	14,528,176	FNMA		4.500		02/01/49		15,700,845
	16,921,821	FNMA		4.000		04/01/49		18,040,523
	16,200,593	FNMA		5.000		04/01/49		17,737,760
	41,354,343	FNMA		3.500		08/01/49		44,423,638
	11,789,359	FNMA		4.000		08/01/49		12,572,369

127

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	39,563,001		FNMA		3.000	%	09/01/49	$	41,425,005
	23,587,557		FNMA		3.000		12/01/49		25,445,023
	39,389,941		FNMA		3.000		12/01/49		41,243,800
	44,948,561		FNMA		3.000		02/01/50		47,861,606
	45,823,076		FNMA		3.500		02/01/50		48,274,081
	58,708,433		FNMA		3.000		05/01/50		61,500,426
	123,077,353		FNMA		2.500		09/01/50		129,189,257
	48,300,000	h	FNMA		2.000		10/01/50		49,939,517
	100,000,000	h	FNMA		2.000		10/01/50		103,394,445
	269,500,000	h	FNMA		2.500		10/01/50		282,883,111
	4,393,173		FNMA		3.500		07/01/55		4,669,857
	1,133		Government National Mortgage Association (GNMA)		4.500		01/20/24		1,208
	11,368		GNMA		4.000		04/15/24		12,052
	2,392		GNMA		4.500		07/15/24		2,500
	39,465		GNMA		4.000		08/15/24		41,822
	11,290		GNMA		4.500		08/15/24		11,802
	30,135		GNMA		4.000		09/15/24		31,934
	6,608		GNMA		4.500		01/15/25		6,908
	57,804		GNMA		4.000		08/15/25		61,295
	29,522		GNMA		3.500		03/15/26		31,194
	31,749		GNMA		4.000		04/15/26		33,671
	32,021		GNMA		4.000		06/20/26		34,029
	50,790		GNMA		3.500		11/20/26		53,758
	263,208		GNMA		3.000		12/15/26		276,401
	864,538		GNMA		2.500		04/20/27		899,614
	580,950		GNMA		2.500		09/20/27		605,545
	368		GNMA		6.500		09/15/28		406
	208		GNMA		6.500		09/15/28		229
	1,085		GNMA		6.500		11/15/28		1,199
	203		GNMA		7.500		11/15/28		204
	879,790		GNMA		3.500		11/20/28		933,294
	6,524		GNMA		8.500		10/15/30		6,824
	2,449		GNMA		8.500		10/20/30		2,924
	284		GNMA		8.500		12/15/30		353
	370		GNMA		7.000		06/20/31		441
	753		GNMA		7.000		07/15/31		771
	1,149		GNMA		7.000		07/15/31		1,211
	4,962,497		GNMA		3.000		08/20/32		5,202,634
	132,494		GNMA		6.000		10/15/32		155,621
	17,489		GNMA		5.500		12/20/32		20,742
	35,916		GNMA		5.500		05/15/33		39,767
	5,443		GNMA		5.000		07/15/33		6,168
	23,258		GNMA		5.500		07/15/33		27,202
	5,105		GNMA		5.000		07/20/33		5,820
	17,581		GNMA		5.000		08/15/33		19,290
	19,573		GNMA		5.000		08/15/33		21,623
	89,451		GNMA		5.500		09/15/33		104,300
	69,297		GNMA		6.000		11/20/33		79,669
	30,369		GNMA		5.500		05/20/34		36,019
	44,828		GNMA		6.000		09/20/34		52,636
	3,430		GNMA		5.000		10/20/34		3,917
	86,283		GNMA		5.500		11/15/34		99,142

128

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	44,344	GNMA		6.500	%	01/15/35	$	52,341
	23,385	GNMA		5.500		02/20/35		27,738
	429,653	GNMA		5.000		03/20/35		490,599
	129,891	GNMA		5.000		04/15/35		147,438
	141,357	GNMA		5.500		05/20/35		167,628
	5,031	GNMA		5.000		09/20/35		5,745
	3,505	GNMA		5.000		11/15/35		3,844
	3,087	GNMA		5.000		11/15/35		3,461
	39,388	GNMA		5.500		02/20/36		46,722
	4,326	GNMA		5.500		03/15/36		5,000
	12,843	GNMA		5.500		05/20/36		15,235
	4,170	GNMA		6.500		06/15/36		5,037
	115,667	GNMA		5.500		06/20/36		137,210
	7,227	GNMA		5.000		09/15/36		8,271
	4,187	GNMA		6.000		09/15/36		4,853
	11,207	GNMA		6.000		10/20/36		12,886
	8,045	GNMA		5.000		12/15/36		9,207
	6,703	GNMA		6.000		01/20/37		7,708
	119,067	GNMA		5.500		02/15/37		135,730
	25,062	GNMA		6.000		02/20/37		28,819
	192,413	GNMA		6.000		04/15/37		229,459
	3,188	GNMA		6.500		04/15/37		3,523
	67,941	GNMA		6.000		04/20/37		75,428
	9,862	GNMA		6.000		06/15/37		11,065
	13,608	GNMA		6.000		08/20/37		15,641
	11,860	GNMA		6.500		08/20/37		13,608
	52,309	GNMA		6.500		11/20/37		60,993
	14,568	GNMA		6.000		12/15/37		16,850
	2,906	GNMA		5.000		02/20/38		3,319
	74,980	GNMA		5.000		04/15/38		84,066
	3,904	GNMA		5.500		05/20/38		4,461
	13,635	GNMA		5.500		06/15/38		15,771
	37,271	GNMA		6.000		06/20/38		42,859
	40,397	GNMA		5.500		07/15/38		46,835
	283,366	GNMA		5.000		07/20/38		323,101
	256,387	GNMA		5.500		07/20/38		304,169
	7,340	GNMA		5.500		08/15/38		8,619
	95,940	GNMA		6.000		08/15/38		114,195
	45,259	GNMA		6.000		08/15/38		50,812
	25,473	GNMA		6.000		08/20/38		29,294
	102,228	GNMA		6.000		09/20/38		117,555
	35,618	GNMA		5.000		10/15/38		39,040
	10,337	GNMA		5.500		10/15/38		12,135
	8,322	GNMA		6.500		10/20/38		9,190
	5,252	GNMA		6.500		10/20/38		6,155
	1,348	GNMA		5.500		11/15/38		1,568
	21,316	GNMA		6.500		11/20/38		24,885
	93,675	GNMA		6.000		12/15/38		106,074
	2,461	GNMA		6.500		12/15/38		2,822
	18,973	GNMA		5.000		01/15/39		21,597
	484,172	GNMA		4.500		01/20/39		537,735
	52,461	GNMA		6.500		01/20/39		59,797
	16,886	GNMA		5.000		02/15/39		18,974
	7,447	GNMA		6.000		02/15/39		8,513

129

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	16,246	GNMA		4.500	%	03/15/39	$	18,000
	156,227	GNMA		4.500		03/15/39		173,915
	5,793	GNMA		4.500		03/20/39		6,429
	101,486	GNMA		5.500		03/20/39		120,401
	10,489	GNMA		4.500		04/15/39		11,663
	173,879	GNMA		5.500		04/15/39		204,127
	3,893	GNMA		5.000		04/20/39		4,445
	18,141	GNMA		4.000		05/15/39		19,351
	281,366	GNMA		4.500		05/15/39		312,462
	146,229	GNMA		5.000		05/15/39		166,411
	20,375	GNMA		4.000		05/20/39		22,423
	53,339	GNMA		4.500		05/20/39		59,241
	1,145,731	GNMA		5.000		05/20/39		1,308,481
	8,268	GNMA		4.500		06/15/39		9,205
	785,731	GNMA		4.500		06/15/39		874,514
	1,058,892	GNMA		5.000		06/15/39		1,214,618
	834,904	GNMA		5.000		06/15/39		957,762
	17,916	GNMA		5.000		06/15/39		20,509
	7,423	GNMA		5.000		06/15/39		8,306
	9,942	GNMA		5.000		06/15/39		11,379
	11,673	GNMA		4.000		06/20/39		12,825
	7,209	GNMA		5.000		06/20/39		8,224
	886,895	GNMA		4.000		07/15/39		951,527
	11,453	GNMA		4.500		07/15/39		12,719
	24,365	GNMA		4.500		07/15/39		27,062
	1,006,693	GNMA		4.500		07/15/39		1,115,099
	10,852	GNMA		5.000		07/15/39		12,348
	117,248	GNMA		4.500		07/20/39		130,207
	102,919	GNMA		5.000		07/20/39		117,500
	11,124	GNMA		5.500		07/20/39		13,197
	50,020	GNMA		4.000		08/15/39		53,327
	115,942	GNMA		5.000		08/15/39		131,866
	7,647	GNMA		5.500		08/15/39		8,904
	56,571	GNMA		6.000		08/15/39		63,119
	35,593	GNMA		4.000		08/20/39		39,171
	26,613	GNMA		5.000		08/20/39		30,378
	5,472	GNMA		5.000		09/15/39		5,999
	36,827	GNMA		5.000		09/20/39		42,008
	8,977	GNMA		4.500		10/15/39		9,994
	4,214	GNMA		5.000		10/15/39		4,724
	11,595	GNMA		4.500		10/20/39		12,874
	23,884	GNMA		4.500		11/15/39		26,866
	17,048	GNMA		4.500		11/20/39		18,914
	20,112	GNMA		5.000		11/20/39		22,947
	21,698	GNMA		4.500		12/15/39		23,750
	556,602	GNMA		4.500		12/15/39		614,812
	17,114	GNMA		4.500		12/20/39		19,037
	621,876	GNMA		5.000		12/20/39		709,709
	573,849	GNMA		4.500		01/20/40		637,285
	8,906	GNMA		5.500		01/20/40		10,417
	348,626	GNMA		5.500		02/15/40		408,922
	47,005	GNMA		4.000		03/15/40		50,787
	10,008	GNMA		5.000		03/15/40		11,438

130

TIAA-CREF FUNDS – Bond Index Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	2,281		GNMA			4.500	%	04/15/40	$	2,499
	96,275		GNMA			5.000		04/15/40		109,264
	22,457		GNMA			4.500		04/20/40		24,928
	3,659		GNMA			4.500		05/15/40		4,028
	95,083		GNMA			5.000		05/15/40		106,424
	172,085	i	GNMA	DGS1 + 1.500%		2.875		05/20/40		179,977
	4,887		GNMA			4.500		05/20/40		5,426
	2,050,703		GNMA			4.500		06/15/40		2,282,952
	7,635		GNMA			4.500		06/15/40		8,382
	5,642		GNMA			4.500		06/15/40		6,226
	111,909		GNMA			5.000		06/20/40		127,718
	220,244		GNMA			4.500		07/15/40		243,091
	61,324		GNMA			4.500		07/15/40		67,980
	808,951		GNMA			4.500		07/20/40		898,022
	23,662		GNMA			5.000		07/20/40		27,002
	163,719		GNMA			4.000		08/15/40		176,978
	789,666		GNMA			4.000		08/15/40		859,854
	75,108		GNMA			4.500		08/15/40		84,314
	60,234		GNMA			4.500		08/20/40		66,848
	51,896		GNMA			4.500		09/20/40		57,595
	17,988		GNMA			5.500		09/20/40		21,369
	18,026		GNMA			6.500		09/20/40		21,360
	23,519		GNMA			4.000		10/15/40		25,500
	47,225		GNMA			6.000		10/20/40		54,331
	302,100		GNMA			4.000		11/15/40		329,194
	698,208		GNMA			4.000		11/20/40		762,036
	168,764		GNMA			3.500		12/15/40		178,841
	267,649		GNMA			5.500		12/20/40		317,524
	846,252		GNMA			4.000		01/15/41		921,721
	1,870,844		GNMA			4.000		01/20/41		2,057,548
	146,182		GNMA			4.000		02/15/41		157,957
	492,110		GNMA			4.500		02/20/41		553,264
	275,942		GNMA			4.500		03/15/41		306,199
	577,528		GNMA			4.500		04/20/41		641,019
	125,138		GNMA			5.000		04/20/41		142,760
	45,987	i	GNMA	DGS1 + 1.500%		2.875		06/20/41		48,032
	132,637		GNMA			4.000		07/15/41		143,716
	238,204		GNMA			4.000		07/20/41		260,916
	781,769		GNMA			4.500		07/20/41		868,063
	666,410		GNMA			5.000		07/20/41		761,096
	160,457		GNMA			4.500		08/15/41		177,657
	311,503		GNMA			5.000		08/20/41		355,661
	452,536		GNMA			4.000		09/15/41		489,641
	23,297	i	GNMA	DGS1 + 1.500%		3.250		09/20/41		24,242
	1,094,179		GNMA			4.000		09/20/41		1,203,071
	66,280		GNMA			4.000		10/15/41		71,813
	49,660	i	GNMA	DGS1 + 1.500%		3.125		10/20/41		51,744
	30,694	i	GNMA	DGS1 + 1.500%		3.125		10/20/41		31,968
	1,400,709		GNMA			4.000		10/20/41		1,540,241
	178,055		GNMA			5.500		10/20/41		211,218
	425,546		GNMA			3.500		11/15/41		448,820
	913,673		GNMA			4.000		11/15/41		981,371
	1,825,155		GNMA			4.500		11/20/41		2,027,186
	771,277		GNMA			5.000		11/20/41		879,314

131

TIAA-CREF FUNDS – Bond Index Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	168,749		GNMA			6.000	%	11/20/41	$	194,880
	989,294		GNMA			3.500		01/20/42		1,073,467
	169,448	i	GNMA	DGS1 + 1.500%		3.000		02/20/42		176,027
	477,829		GNMA			3.500		03/20/42		518,445
	765,233		GNMA			4.500		03/20/42		850,195
	850,517		GNMA			3.500		04/15/42		898,643
	1,551,160		GNMA			3.500		05/20/42		1,694,085
	4,562,967		GNMA			3.500		05/20/42		4,952,521
	990,371		GNMA			4.000		05/20/42		1,089,535
	1,914,936		GNMA			3.500		07/15/42		2,060,894
	174,395	i	GNMA	DGS1 + 1.500%		3.250		07/20/42		180,998
	1,066,062		GNMA			3.500		07/20/42		1,157,078
	1,380,770		GNMA			3.000		08/20/42		1,456,705
	1,618,768		GNMA			3.500		08/20/42		1,807,057
	4,481,120		GNMA			3.500		08/20/42		4,863,707
	747,779		GNMA			6.000		08/20/42		850,756
	1,794,403		GNMA			3.500		10/20/42		1,947,609
	2,007,901		GNMA			3.000		11/20/42		2,117,547
	1,775,330		GNMA			3.000		12/20/42		1,913,624
	2,364,319		GNMA			3.000		12/20/42		2,501,139
	1,344,185		GNMA			3.000		01/15/43		1,404,327
	3,923,995		GNMA			3.000		01/15/43		4,221,814
	1,784,906		GNMA			3.000		01/20/43		1,882,461
	3,060,187		GNMA			3.000		02/20/43		3,227,679
	1,946,964		GNMA			3.000		02/20/43		2,107,656
	543,707		GNMA			3.000		04/15/43		567,598
	498,743		GNMA			5.000		04/20/43		561,598
	1,220,070		GNMA			3.000		05/20/43		1,286,753
	1,876,920		GNMA			3.000		06/20/43		1,979,392
	3,826,854		GNMA			3.500		06/20/43		4,210,653
	4,097,219		GNMA			3.000		07/20/43		4,321,429
	1,894,528		GNMA			3.500		07/20/43		2,054,135
	8,478,056		GNMA			4.500		08/20/43		9,342,209
	2,704,675		GNMA			3.500		09/20/43		2,938,932
	928,646		GNMA			4.000		09/20/43		1,010,485
	11,398,197		GNMA			3.500		10/20/43		12,355,804
	5,670,171		GNMA			4.000		10/20/43		6,165,762
	495,378		GNMA			3.500		11/20/43		537,048
	1,005,141		GNMA			4.000		11/20/43		1,099,161
	912,338		GNMA			4.500		12/20/43		1,013,770
	958,251		GNMA			4.500		01/20/44		1,064,787
	1,250,788		GNMA			3.500		02/20/44		1,357,769
	1,699,943		GNMA			4.000		02/20/44		1,855,899
	1,713,626		GNMA			4.000		05/20/44		1,857,600
	1,761,081		GNMA			4.000		06/20/44		1,907,986
	5,012,283		GNMA			3.500		07/20/44		5,406,203
	15,439,656		GNMA			3.500		10/20/44		16,669,714
	1,372,584		GNMA			4.500		10/20/44		1,524,858
	3,642,529		GNMA			3.500		11/20/44		3,909,189
	4,763,408		GNMA			3.000		12/20/44		5,021,889
	7,380,409		GNMA			4.000		12/20/44		8,028,464
	11,573,058		GNMA			3.500		02/20/45		12,387,944
	5,578,237		GNMA			4.000		03/20/45		6,039,207

132

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	5,019,939		GNMA		3.000	%	04/20/45	$	5,321,004
	10,729,788		GNMA		3.000		06/20/45		11,377,032
	23,612,993		GNMA		3.000		07/20/45		24,952,328
	7,974,994		GNMA		4.000		10/20/45		8,611,019
	13,270,806		GNMA		4.000		11/20/45		14,306,035
	6,044,913		GNMA		3.000		12/20/45		6,345,932
	5,420,212		GNMA		3.500		12/20/45		5,789,003
	31,131,950		GNMA		3.000		03/20/46		32,846,193
	11,356,619		GNMA		3.000		04/20/46		12,022,186
	6,145,193		GNMA		4.000		04/20/46		6,614,707
	29,701,662		GNMA		3.000		05/20/46		31,418,062
	17,932,350		GNMA		3.500		05/20/46		19,143,583
	6,803,401		GNMA		3.000		06/20/46		7,146,758
	4,128,533		GNMA		3.500		06/20/46		4,449,540
	5,154,898		GNMA		3.000		07/20/46		5,445,464
	8,656,546		GNMA		3.500		08/20/46		9,265,351
	4,983,031		GNMA		3.000		09/20/46		5,271,821
	19,785,022		GNMA		3.500		09/20/46		21,159,787
	9,623,815		GNMA		3.000		10/20/46		10,145,879
	5,163,916		GNMA		3.000		12/20/46		5,460,934
	32,193,533		GNMA		3.000		01/20/47		33,898,905
	3,895,371		GNMA		4.000		01/20/47		4,199,498
	9,606,923		GNMA		4.000		04/20/47		10,359,329
	9,556,108		GNMA		3.500		05/20/47		10,148,705
	4,956,243		GNMA		3.500		06/20/47		5,249,955
	5,908,715		GNMA		3.000		07/20/47		6,222,557
	11,538,533		GNMA		4.500		07/20/47		12,535,346
	11,077,859		GNMA		3.000		08/20/47		11,660,747
	13,206,603		GNMA		3.500		08/20/47		14,094,488
	21,549,595		GNMA		3.000		09/20/47		22,708,085
	30,877,046		GNMA		4.000		09/20/47		33,135,614
	21,815,908		GNMA		3.500		11/20/47		23,282,155
	16,239,254		GNMA		3.500		12/20/47		17,306,368
	10,741,305		GNMA		3.500		01/20/48		11,426,782
	15,241,945		GNMA		4.000		05/20/48		16,325,534
	11,220,738		GNMA		4.000		06/20/48		11,987,509
	22,423,460		GNMA		3.500		07/20/48		23,795,959
	11,317,577		GNMA		4.000		08/20/48		12,096,367
	9,005,794		GNMA		5.000		08/20/48		9,810,673
	7,829,427		GNMA		4.500		09/20/48		8,465,475
	7,378,194		GNMA		5.000		10/20/48		8,074,783
	5,637,782		GNMA		4.500		11/20/48		6,065,741
	12,725,375		GNMA		3.500		04/20/49		13,398,645
	44,811,805		GNMA		4.500		04/20/49		48,157,643
	14,263,467		GNMA		4.000		05/20/49		15,164,408
	8,181,553		GNMA		3.500		06/20/49		8,609,289
	20,004,110		GNMA		3.500		09/20/49		21,100,044
	14,904,337		GNMA		3.500		11/20/49		15,731,804
	36,729,996		GNMA		3.500		02/20/50		38,640,968
	36,402,855		GNMA		3.500		04/20/50		38,527,471
	57,983,203		GNMA		2.000		08/20/50		60,278,166
	99,266,149		GNMA		3.000		08/20/50		104,899,753
	18,000,000	h	GNMA		2.500		09/20/50		18,917,611
	23,500,000	h	GNMA		3.000		09/20/50		24,877,077
			TOTAL MORTGAGE BACKED						4,691,480,967

133

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
MUNICIPAL BONDS - 0.9%
$	200,000	Alabama Economic Settlement Authority		4.263	%	09/15/32	$	238,654
	300,000	American Municipal Power		7.834		02/15/41		504,342
	500,000	American Municipal Power		6.270		02/15/50		724,335
	1,165,000	American Municipal Power		8.084		02/15/50		2,216,832
	750,000	American University		3.672		04/01/49		855,679
	750,000	Bay Area Toll Authority		2.574		04/01/31		813,645
	1,000,000	Bay Area Toll Authority		6.918		04/01/40		1,544,000
	2,000,000	Bay Area Toll Authority		6.263		04/01/49		3,407,400
	200,000	California Institute of Technology		4.321		08/01/45		259,334
	750,000	California Institute of Technology		3.650		09/01/19		816,973
	200,000	California State University		3.899		11/01/47		243,166
	1,000,000	California State University		2.897		11/01/51		1,003,330
	750,000	California State University		2.975		11/01/51		785,895
	720,000	Central Puget Sound Regional Transit Authority		5.491		11/01/39		1,055,909
	460,000	Chicago Metropolitan Water Reclamation District-Greater Chicago		5.720		12/01/38		662,322
	2,250,000	Chicago O’Hare International Airport		6.395		01/01/40		3,350,677
	200,000	Chicago O’Hare International Airport		4.472		01/01/49		250,302
	200,000	Chicago O’Hare International Airport		4.572		01/01/54		255,002
	690,000	City of Houston TX		3.961		03/01/47		857,070
	1,000,000	City of Riverside CA		3.857		06/01/45		1,078,000
	310,000	City of San Francisco CA Public Utilities Commission Water Revenue		3.303		11/01/39		334,819
	750,000	City Public Service Board of San Antonio TX		5.808		02/01/41		1,141,868
	150,000	Colorado Bridge Enterprise		6.078		12/01/40		224,644
	200,000	Commonwealth Financing Authority		4.014		06/01/33		234,390
	100,000	Commonwealth Financing Authority		3.864		06/01/38		114,962
	100,000	Commonwealth Financing Authority		4.144		06/01/38		120,183
	645,000	Commonwealth Financing Authority		3.807		06/01/41		733,236
	180,000	Commonwealth of Massachusetts		4.200		12/01/21		185,000
	500,000	Commonwealth of Massachusetts		5.731		06/01/40		722,900
	1,000,000	Commonwealth of Massachusetts		2.514		07/01/41		1,003,450
	100,000	Commonwealth of Massachusetts		3.277		06/01/46		112,784
	750,000	Commonwealth of Massachusetts		2.900		09/01/49		820,432
	130,000	County of Broward FL Airport System Revenue		3.477		10/01/43		132,460
	200,000	County of Clark NV		6.820		07/01/45		329,854
	135,000	County of Miami-Dade FL Aviation Revenue		4.280		10/01/41		145,587
	200,000	County of Miami-Dade FL Water & Sewer System Revenue		3.490		10/01/42		214,456
	1,000,000	County of Riverside CA		3.818		02/15/38		1,146,750
	750,000	Dallas Area Rapid Transit		5.022		12/01/48		1,089,855
	250,000	Dallas/Fort Worth International Airport		2.994		11/01/38		260,725
	235,000	Dallas/Fort Worth International Airport		3.089		11/01/40		237,832
	100,000	Dallas/Fort Worth International Airport		3.144		11/01/45		105,255
	210,000	Dallas/Fort Worth International Airport		2.919		11/01/50		208,912
	350,000	Denver City & County School District No		4.242		12/15/37		424,413
	200,000	District of Columbia		5.591		12/01/34		273,130
	470,000	District of Columbia Water & Sewer Authority		3.207		10/01/48		503,661
	445,000	District of Columbia Water & Sewer Authority		4.814		10/01/14		666,174
	500,000	Duke University		2.682		10/01/44		519,918
	115,000	Duke University		3.299		10/01/46		129,296

134

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	500,000	Duke University		2.757	%	10/01/50	$	535,555
	500,000	Duke University		2.832		10/01/55		528,585
	10,000	Energy Northwest		2.814		07/01/24		10,443
	1,200,000	Florida State Board of Administration Finance Corp		2.638		07/01/21		1,221,072
	360,000	Foothill-Eastern Transportation Corridor Agency		4.094		01/15/49		382,226
	300,000	Foothill-Eastern Transportation Corridor Agency		3.924		01/15/53		320,841
	300,000	George Washington University		4.300		09/15/44		368,933
	200,000	George Washington University		4.868		09/15/45		269,925
	375,000	George Washington University		4.126		09/15/48		459,791
	100,000	Georgetown University		4.315		04/01/49		125,228
	500,000	Georgetown University		2.943		04/01/50		494,951
	300,000	Georgetown University		5.215		10/01/18		402,077
	970,000	Grand Parkway Transportation Corp		3.236		10/01/52		1,008,460
	175,000	Great Lakes Water Authority Sewage Disposal System Revenue		3.056		07/01/39		187,439
	330,000	Great Lakes Water Authority Water Supply System Revenue		3.473		07/01/41		359,591
	200,000	Health & Educational Facilities Authority of the State of Missouri		3.651		01/15/46		245,152
	200,000	Health & Educational Facilities Authority of the State of Missouri		3.086		09/15/51		220,194
	200,000	Health & Educational Facilities Authority of the State of Missouri		3.652		08/15/57		246,668
	500,000	Illinois State Toll Highway Authority		6.184		01/01/34		721,050
	770,000	JobsOhio Beverage System		2.833		01/01/38		830,106
	240,000	Los Angeles Community College District		6.750		08/01/49		428,707
	350,000	Los Angeles Department of Water & Power Power System Revenue		5.716		07/01/39		522,382
	1,500,000	Los Angeles Department of Water & Power Power System Revenue		6.574		07/01/45		2,563,125
	1,630,000	Los Angeles Unified School District		5.750		07/01/34		2,275,871
	1,000,000	Maryland Health & Higher Educational Facilities Authority		3.052		07/01/40		1,021,250
	1,000,000	Maryland Health & Higher Educational Facilities Authority		3.197		07/01/50		1,045,080
	1,000,000	Massachusetts School Building Authority		1.753		08/15/30		1,023,410
	100,000	Massachusetts School Building Authority		5.715		08/15/39		148,238
	500,000	Massachusetts School Building Authority		3.395		10/15/40		537,745
	100,000	Metropolitan Government of Nashville & Davidson County Convention Center Authority		6.731		07/01/43		151,188
	200,000	Metropolitan Government of Nashville & Davidson County Health & Educational Facilities		4.053		07/01/26		226,436
	940,000	Metropolitan Transportation Authority		6.648		11/15/39		1,176,871
	1,150,000	Metropolitan Transportation Authority		7.336		11/15/39		1,844,853
	335,000	Metropolitan Transportation Authority		5.175		11/15/49		365,756
	350,000	Michigan Finance Authority		3.384		12/01/40		394,555
	570,000	Michigan State Building Authority		2.705		10/15/40		571,835
	235,000	Michigan State University		4.496		08/15/48		271,127
	500,000	Missouri Highway & Transportation Commission		5.445		05/01/33		667,820
	247,000	Municipal Electric Authority of Georgia		6.637		04/01/57		367,803
	491,000	Municipal Electric Authority of Georgia		6.655		04/01/57		743,099
	947,000	New Jersey Economic Development Authority		7.425		02/15/29		1,178,362
	1,335,000	New Jersey State Turnpike Authority		7.414		01/01/40		2,264,494
	1,000,000	New Jersey State Turnpike Authority		7.102		01/01/41		1,642,590

135

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	800,000	New Jersey Transportation Trust Fund Authority		5.754	%	12/15/28	$	903,760
	360,000	New Jersey Transportation Trust Fund Authority		6.104		12/15/28		364,111
	500,000	New Jersey Transportation Trust Fund Authority		4.081		06/15/39		474,740
	195,000	New Jersey Transportation Trust Fund Authority		4.131		06/15/42		185,847
	2,385,000	New York City Municipal Water Finance Authority		5.440		06/15/43		3,634,645
	1,000,000	New York City Transitional Finance Authority Future Tax Secured Revenue		5.767		08/01/36		1,327,720
	130,000	New York State Dormitory Authority		5.628		03/15/39		174,661
	545,000	New York State Dormitory Authority		5.600		03/15/40		784,353
	500,000	New York State Dormitory Authority		3.142		07/01/43		532,780
	200,000	New York State Dormitory Authority		4.946		08/01/48		227,012
	500,000	New York State Thruway Authority		2.900		01/01/35		542,830
	110,000	New York State Thruway Authority		3.500		01/01/42		114,764
	1,000,000	New York State Urban Development Corp		3.900		03/15/33		1,134,390
	1,000,000	North Texas Tollway Authority		6.718		01/01/49		1,722,430
	675,000	Ohio State Water Development Authority		4.879		12/01/34		809,420
	605,000	Ohio Turnpike & Infrastructure Commission		3.216		02/15/48		635,329
	750,000	Oregon School Boards Association		4.759		06/30/28		863,783
	250,000	Oregon School Boards Association		5.680		06/30/28		314,330
	500,000	Pennsylvania State University		2.790		09/01/43		519,895
	205,000	Pennsylvania State University		2.840		09/01/50		211,337
	300,000	Permanent University Fund-Texas A&M University System		3.660		07/01/47		330,138
	200,000	Permanent University Fund-University of Texas System		3.376		07/01/47		241,014
	560,000	Port Authority of New York & New Jersey		1.086		07/01/23		568,025
	1,215,000	Port Authority of New York & New Jersey		6.040		12/01/29		1,669,422
	500,000	Port Authority of New York & New Jersey		5.647		11/01/40		699,690
	300,000	Port Authority of New York & New Jersey		4.823		06/01/45		338,319
	1,000,000	Port Authority of New York & New Jersey		5.310		08/01/46		1,125,410
	200,000	Port Authority of New York & New Jersey		4.031		09/01/48		235,682
	400,000	Port Authority of New York & New Jersey		4.229		10/15/57		490,928
	2,200,000	Port Authority of New York & New Jersey		4.810		10/15/65		2,941,862
	250,000	Port Authority of New York & New Jersey		3.287		08/01/69		254,735
	1,000,000	Port of Morrow OR		2.543		09/01/40		999,930
	220,000	Princeton University		5.700		03/01/39		336,452
	750,000	Regents of the University of California Medical Center Pooled Revenue		3.006		05/15/50		810,533
	750,000	Regents of the University of California Medical Center Pooled Revenue		3.256		05/15/60		818,040
	750,000	Regents of the University of California Medical Center Pooled Revenue		3.706		05/15/20		795,210
	500,000	Rutgers The State University of New Jersey		3.270		05/01/43		553,570
	500,000	Rutgers The State University of New Jersey		3.915		05/01/19		638,670
	200,000	Sales Tax Securitization Corp		4.637		01/01/40		243,342
	200,000	Sales Tax Securitization Corp		3.587		01/01/43		217,334
	1,000,000	Sales Tax Securitization Corp		3.820		01/01/48		1,098,460
	200,000	Sales Tax Securitization Corp		4.787		01/01/48		253,434
	100,000	Salt River Project Agricultural Improvement & Power District		4.839		01/01/41		140,584
	435,000	San Diego County Regional Transportation Commission		3.248		04/01/48		463,823
	500,000	San Diego County Water Authority		6.138		05/01/49		801,600

136

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	100,000	San Jose Redevelopment Agency		3.375	%	08/01/34	$	109,392
	800,000	Santa Clara Valley Transportation Authority		5.876		04/01/32		1,023,792
	270,000	South Carolina Public Service Authority		2.388		12/01/23		283,325
	750,000	State Board of Administration Finance Corp		1.258		07/01/25		761,512
	750,000	State Board of Administration Finance Corp		1.705		07/01/27		760,957
	400,000	State Board of Administration Finance Corp		2.154		07/01/30		405,152
	300,000	State of California		2.800		04/01/21		303,588
	645,000	State of California		5.700		11/01/21		682,152
	200,000	State of California		3.375		04/01/25		223,002
	200,000	State of California		3.500		04/01/28		232,026
	300,000	State of California		4.500		04/01/33		358,614
	250,000	State of California		7.500		04/01/34		415,487
	225,000	State of California		4.600		04/01/38		267,979
	1,285,000	State of California		7.550		04/01/39		2,248,262
	3,400,000	State of California		7.300		10/01/39		5,583,684
	2,740,000	State of California		7.625		03/01/40		4,743,159
	1,500,000	State of California		7.600		11/01/40		2,702,010
	200,000	State of California Department of Water Resources Power Supply Revenue		2.000		05/01/22		205,370
	620,000	State of Connecticut		5.850		03/15/32		865,160
	5,950,000	State of Illinois		5.100		06/01/33		6,013,010
	1,295,000	State of Illinois		6.725		04/01/35		1,434,847
	500,000	State of Kansas Department of Transportation		4.596		09/01/35		644,775
	160,836	State of Oregon		5.762		06/01/23		175,118
	85,000	State of Oregon		5.892		06/01/27		107,399
	100,000	State of Oregon Department of Transportation		5.834		11/15/34		144,574
	600,000	State of Texas		4.631		04/01/33		773,724
	50,000	State of Texas		5.517		04/01/39		76,155
	1,000,000	State of Texas		4.681		04/01/40		1,379,700
	500,000	State of Utah		3.539		07/01/25		547,070
	200,000	State of Washington		5.090		08/01/33		263,908
	200,000	State of Wisconsin		3.154		05/01/27		224,654
	200,000	State of Wisconsin		3.954		05/01/36		225,288
	604,000	State Public School Building Authority		5.000		09/15/27		723,973
	100,000	Sumter Landing Community Development District		4.172		10/01/47		114,006
	430,000	Texas Private Activity Bond Surface Transportation Corp		3.922		12/31/49		486,734
	1,000,000	Texas Transportation Commission		2.562		04/01/42		1,033,580
	1,000,000	Texas Transportation Commission		2.472		10/01/44		1,017,200
	575,000	Texas Transportation Commission State Highway Fund		5.028		04/01/26		668,075
	1,190,000	Texas Transportation Commission State Highway Fund		5.178		04/01/30		1,526,972
	560,000	Texas Transportation Commission State Highway Fund		4.000		10/01/33		705,124
	100,000	The Ohio State University		4.910		06/01/40		139,280
	500,000	The Ohio State University		3.798		12/01/46		628,935
	200,000	The Ohio State University		4.048		12/01/56		265,994
	1,000,000	Trustees of the University of Pennsylvania		2.396		10/01/50		993,752
	100,000	Trustees of the University of Pennsylvania		4.674		09/01/12		139,653
	500,000	Trustees of the University of Pennsylvania		3.610		02/15/19		554,220
	1,000,000	University of California		0.883		05/15/25		1,008,730
	200,000	University of California		3.063		07/01/25		221,012
	1,000,000	University of California		1.316		05/15/27		1,010,660

137

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	500,000	University of California		3.349	%	07/01/29	$	574,595
	1,000,000	University of California		1.614		05/15/30		1,002,120
	200,000	University of California		5.770		05/15/43		290,698
	200,000	University of California		3.931		05/15/45		235,712
	200,000	University of California		4.131		05/15/45		248,078
	1,500,000	University of California		5.946		05/15/45		2,232,285
	860,000	University of California		4.858		05/15/12		1,253,226
	200,000	University of California		4.767		05/15/15		284,204
	500,000	University of Chicago		2.761		04/01/45		510,217
	300,000	University of Chicago		4.003		10/01/53		374,619
	750,000	University of Michigan		2.437		04/01/40		769,590
	500,000	University of Michigan		2.562		04/01/50		523,655
	500,000	University of Nebraska Facilities Corp		3.037		10/01/49		567,125
	200,000	University of Notre Dame du Lac		3.438		02/15/45		235,826
	200,000	University of Notre Dame du Lac		3.394		02/15/48		233,913
	300,000	University of Southern California		3.028		10/01/39		323,033
	200,000	University of Southern California		3.841		10/01/47		251,974
	500,000	University of Southern California		2.805		10/01/50		528,569
	200,000	University of Southern California		5.250		10/01/11		321,372
	1,000,000	University of Southern California		3.226		10/01/20		1,062,752
	200,000	University of Texas System		3.852		08/15/46		259,336
	700,000	University of Texas System		4.794		08/15/46		958,160
	750,000	University of Texas System		2.439		08/15/49		761,303
	1,000,000	University of Virginia		2.256		09/01/50		986,550
	500,000	University of Virginia		3.227		09/01/19		544,565
	150,000	Virginia Commonwealth Transportation Board		5.350		05/15/35		198,464
	750,000	Westchester County Local Development Corp		3.846		11/01/50		754,193
	200,000	William Marsh Rice University		3.574		05/15/45		239,062
	200,000	William Marsh Rice University		3.774		05/15/55		254,452
		TOTAL MUNICIPAL BONDS						158,177,434
U.S. TREASURY SECURITIES - 36.5%
	21,250,000	United States Treasury Bond		4.500		02/15/36		32,155,566
	22,400,000	United States Treasury Bond		5.000		05/15/37		36,290,625
	179,483,000	United States Treasury Bond		3.500		02/15/39		251,949,261
	2,000,000	United States Treasury Bond		4.500		08/15/39		3,162,578
	44,850,000	United States Treasury Bond		4.375		11/15/39		70,072,869
	17,585,000	United States Treasury Bond		3.875		08/15/40		26,027,861
	11,185,000	United States Treasury Bond		4.250		11/15/40		17,364,276
	26,350,000	United States Treasury Bond		4.375		05/15/41		41,700,933
	10,000,000	United States Treasury Bond		3.750		08/15/41		14,678,125
	48,300,000	United States Treasury Bond		3.125		11/15/41		65,265,375
	18,550,000	United States Treasury Bond		3.125		02/15/42		25,129,453
	22,000,000	United States Treasury Bond		3.000		05/15/42		29,244,531
	20,000,000	United States Treasury Bond		2.750		08/15/42		25,626,562
	10,250,000	United States Treasury Bond		2.875		05/15/43		13,383,457
	16,000,000	United States Treasury Bond		2.500		02/15/45		19,691,875
	22,000,000	United States Treasury Bond		3.000		05/15/45		29,454,219
	16,000,000	United States Treasury Bond		2.875		08/15/45		21,020,625
	27,000,000	United States Treasury Bond		2.500		05/15/46		33,356,602
	13,300,000	United States Treasury Bond		2.875		11/15/46		17,578,340
	28,000,000	United States Treasury Bond		3.000		02/15/47		37,873,281
	30,000,000	United States Treasury Bond		2.750		08/15/47		38,937,891

138

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	45,000,000	United States Treasury Bond		2.750	%	11/15/47	$	58,477,149
	38,500,000	United States Treasury Bond		3.000		02/15/48		52,319,394
	48,500,000	United States Treasury Bond		3.125		05/15/48		67,426,367
	35,500,000	United States Treasury Bond		3.000		08/15/48		48,384,004
	35,000,000	United States Treasury Bond		3.375		11/15/48		50,923,633
	82,500,000	United States Treasury Bond		3.000		02/15/49		112,773,632
	10,500,000	United States Treasury Bond		2.875		05/15/49		14,058,105
	7,500,000	United States Treasury Bond		2.250		08/15/49		8,918,848
	8,615,000	United States Treasury Bond		2.375		11/15/49		10,518,040
	39,000,000	United States Treasury Note		1.125		07/31/21		39,310,781
	25,000,000	United States Treasury Note		1.125		08/31/21		25,218,750
	43,000,000	United States Treasury Note		2.750		09/15/21		44,058,203
	50,000,000	United States Treasury Note		2.125		09/30/21		50,978,515
	50,000,000	United States Treasury Note		1.500		10/31/21		50,730,469
	20,000,000	United States Treasury Note		2.875		11/15/21		20,607,812
	13,379,100	United States Treasury Note		8.000		11/15/21		14,553,952
	32,000,000	United States Treasury Note		1.750		11/30/21		32,596,250
	26,700,000	United States Treasury Note		2.000		12/31/21		27,315,352
	24,300,000	United States Treasury Note		1.875		01/31/22		24,861,938
	10,000,000	United States Treasury Note		2.375		03/15/22		10,325,000
	51,000,000	United States Treasury Note		1.875		03/31/22		52,322,813
	35,000,000	United States Treasury Note		2.250		04/15/22		36,130,664
	72,000,000	United States Treasury Note		1.875		04/30/22		73,974,375
	25,000,000	United States Treasury Note		2.125		05/15/22		25,801,758
	30,000,000	United States Treasury Note		1.750		06/30/22		30,843,750
	38,000,000	United States Treasury Note		1.875		07/31/22		39,208,281
	25,000,000	United States Treasury Note		1.625		08/31/22		25,710,938
	35,000,000	United States Treasury Note		1.875		09/30/22		36,214,063
	5,000,000	United States Treasury Note		1.375		10/15/22		5,125,586
	65,000,000	United States Treasury Note		2.000		10/31/22		67,518,750
	31,750,000	United States Treasury Note		1.625		11/15/22		32,743,428
	108,000,000	United States Treasury Note		2.000		11/30/22		112,336,875
	15,000,000	United States Treasury Note		1.625		12/15/22		15,490,430
	60,000,000	United States Treasury Note		2.625		02/28/23		63,583,594
	80,000,000	United States Treasury Note		2.500		03/31/23		84,696,875
	15,000,000	United States Treasury Note		0.250		04/15/23		15,037,500
	30,000,000	United States Treasury Note		2.750		04/30/23		32,005,078
	80,000,000	United States Treasury Note		2.750		05/31/23		85,518,750
	91,500,000	United States Treasury Note		2.625		06/30/23		97,694,121
	80,000,000	United States Treasury Note		2.750		07/31/23		85,853,125
	116,000,000	United States Treasury Note		2.750		08/31/23		124,713,594
	35,000,000	United States Treasury Note		2.875		09/30/23		37,830,078
	13,000,000	United States Treasury Note		2.750		11/15/23		14,042,031
	10,000,000	United States Treasury Note		2.125		11/30/23		10,616,016
	65,000,000	United States Treasury Note		2.875		11/30/23		70,537,695
	10,000,000	United States Treasury Note		2.250		12/31/23		10,671,875
	55,000,000	United States Treasury Note		2.625		12/31/23		59,352,734
	129,300,000	United States Treasury Note		2.500		01/31/24		139,260,141
	70,000,000	United States Treasury Note		2.375		02/29/24		75,217,188
	325,000,000	United States Treasury Note		2.125		03/31/24		346,950,195
	174,000,000	United States Treasury Note		2.250		04/30/24		186,764,532
	111,500,000	United States Treasury Note		2.000		05/31/24		118,830,254
	152,000,000	United States Treasury Note		1.750		06/30/24		160,799,374
	212,000,000	United States Treasury Note		1.750		07/31/24		224,504,689

139

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	22,000,000	United States Treasury Note		1.250	%	08/31/24	$	22,886,016
	81,000,000	United States Treasury Note		1.500		09/30/24		85,135,430
	90,500,000	United States Treasury Note		1.500		10/31/24		95,191,153
	40,005,000	United States Treasury Note		2.250		11/15/24		43,317,914
	61,900,000	United States Treasury Note		1.500		11/30/24		65,164,258
	75,000,000	United States Treasury Note		1.750		12/31/24		79,810,547
	40,000,000	United States Treasury Note		2.250		12/31/24		43,407,812
	13,000,000	United States Treasury Note		1.375		01/31/25		13,636,797
	40,000,000	United States Treasury Note		1.250		02/28/25		41,557,812
	73,000,000	United States Treasury Note		0.500		03/31/25		73,826,953
	8,000,000	United States Treasury Note		2.625		03/31/25		8,850,938
	50,000,000	United States Treasury Note		0.375		04/30/25		50,287,110
	134,000,000	United States Treasury Note		0.250		06/30/25		133,916,250
	110,000,000	United States Treasury Note		0.250		07/31/25		109,896,875
	54,000,000	United States Treasury Note		0.250		08/31/25		53,945,157
	20,000,000	United States Treasury Note		2.750		08/31/25		22,412,500
	40,000,000	United States Treasury Note		0.250		09/30/25		39,946,875
	30,000,000	United States Treasury Note		3.000		09/30/25		34,041,797
	30,000,000	United States Treasury Note		2.250		11/15/25		32,970,703
	50,000,000	United States Treasury Note		2.250		03/31/26		55,222,656
	30,000,000	United States Treasury Note		1.625		05/15/26		32,135,156
	71,000,000	United States Treasury Note		1.625		09/30/26		76,255,664
	10,000,000	United States Treasury Note		1.625		10/31/26		10,744,922
	89,500,000	United States Treasury Note		1.750		12/31/26		96,988,633
	5,000,000	United States Treasury Note		0.500		06/30/27		5,017,578
	46,000,000	United States Treasury Note		2.250		08/15/27		51,590,078
	48,800,000	United States Treasury Note		2.750		02/15/28		56,764,312
	66,000,000	United States Treasury Note		2.875		05/15/28		77,647,969
	85,000,000	United States Treasury Note		3.125		11/15/28		102,381,836
	50,000,000	United States Treasury Note		2.625		02/15/29		58,390,625
	92,000,000	United States Treasury Note		2.375		05/15/29		105,853,906
	22,000,000	United States Treasury Note		1.625		08/15/29		23,945,625
	117,000,000	United States Treasury Note		1.500		02/15/30		126,195,469
	53,000,000	United States Treasury Note		0.625		05/15/30		52,809,531
	33,000,000	United States Treasury Note		0.625		08/15/30		32,809,219
	57,000,000	United States Treasury Note		1.000		05/15/40		56,100,469
	36,500,000	United States Treasury Note		1.125		08/15/40		35,815,625
	35,850,000	United States Treasury Note		1.250		05/15/50		33,973,477
	49,000,000	United States Treasury Note		1.375		08/15/50		47,943,437
		TOTAL U.S. TREASURY SECURITIES						6,401,010,733
		TOTAL GOVERNMENT BONDS						12,147,637,244
		(Cost $11,366,195,222)
STRUCTURED ASSETS - 2.7%
ASSET BACKED - 0.7%
	272,375	American Airlines Pass Through Trust		4.000		07/15/25		226,360
		Series - 2013 1 (Class A)
	210,472	American Airlines Pass Through Trust		3.700		10/01/26		174,823
		Series - 2014 1 (Class A)
	225,713	American Airlines Pass Through Trust		3.375		05/01/27		185,600
		Series - 2015 1 (Class A)

140

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	157,372	American Airlines Pass Through Trust		3.600	%	09/22/27	$	150,873
		Series - 2015 2 (Class AA)
	161,874	American Airlines Pass Through Trust		3.575		01/15/28		155,310
		Series - 2016 1 (Class AA)
	478,400	American Airlines Pass Through Trust		3.200		06/15/28		449,560
		Series - 2016 2 (Class AA)
	248,625	American Airlines Pass Through Trust		3.650		02/15/29		239,067
		Series - 2017 1 (Class AA)
	723,924	American Airlines Pass Through Trust		3.150		02/15/32		682,387
		Series - 2019 1 (Class )
	1,000,000	American Express Credit Account Master Trust		2.870		10/15/24		1,038,449
		Series - 2019 1 (Class A)
	4,250,000	American Express Credit Account Master Trust		2.670		11/15/24		4,409,616
		Series - 2019 2 (Class A)
	1,325,000	AmeriCredit Automobile Receivables Trust		2.600		09/18/23		1,354,247
		Series - 2017 4 (Class C)
	1,000,000	AmeriCredit Automobile Receivables Trust		2.970		11/20/23		1,019,370
		Series - 2019 1 (Class A3)
	1,000,000	AmeriCredit Automobile Receivables Trust		1.110		08/19/24		1,010,481
		Series - 2020 1 (Class A3)
	500,000	AmeriCredit Automobile Receivables Trust		1.480		01/21/25		508,489
		Series - 2020 1 (Class B)
	1,500,000	BMW Vehicle Lease Trust		3.360		03/21/22		1,515,202
		Series - 2018 1 (Class A4)
	10,000,000	Cantor Commercial Real Estate Lending		3.523		05/15/52		11,498,104
		Series - 2019 CF1 (Class A4)
	6,000,000	Cantor Commercial Real Estate Lending		3.623		05/15/52		6,488,684
		Series - 2019 CF1 (Class A2)
	2,500,000	Capital One Multi-Asset Execution Trust		2.840		12/15/24		2,587,850
		Series - 2019 A1 (Class A1)
	2,500,000	Capital One Multi-Asset Execution Trust		2.060		08/15/28		2,686,390
		Series - 2019 A3 (Class A3)
	1,700,000	Capital One Prime Auto Receivables Trust		2.510		11/15/23		1,738,572
		Series - 2019 1 (Class A3)
	2,000,000	CarMax Auto Owner Trust		2.220		11/15/22		2,027,354
		Series - 2017 3 (Class A4)
	517,429	CarMax Auto Owner Trust		2.480		11/15/22		522,034
		Series - 2018 1 (Class A3)
	575,000	CarMax Auto Owner Trust		2.410		12/15/22		583,480
		Series - 2017 2 (Class B)
	1,000,000	CarMax Auto Owner Trust		1.700		11/15/24		1,023,531
		Series - 2020 2 (Class A3)
	1,000,000	CarMax Auto Owner Trust		2.770		12/16/24		1,050,457
		Series - 2019 2 (Class A4)
	3,337	CenterPoint Energy Transition Bond Co II LLC		2.161		10/15/21		3,340
		Series - 2012 1 (Class A2)
	1,500,000	Chase Issuance Trust		2.770		03/15/23		1,517,612
		Series - 2014 A2 (Class A2)
	1,000,000	Chase Issuance Trust		2.160		09/15/24		1,036,806
		Series - 2012 A7 (Class A7)
	2,000,000	CitiBank Credit Card Issuance Trust		2.880		01/23/23		2,016,232
		Series - 2014 A1 (Class A1)
	1,250,000	CitiBank Credit Card Issuance Trust		2.190		11/20/23		1,277,663
		Series - 2016 A2 (Class A2)

141

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	5,000,000		DBJPMortgage Trust		1.900	%	09/15/53	$	5,172,807
			Series - 2020 C9 (Class A2)
	500,000		Drive Auto Receivables Trust		0.830		05/15/24		502,228
			Series - 2020 2 (Class A3)
	500,000		Drive Auto Receivables Trust		1.420		03/17/25		505,762
			Series - 2020 2 (Class B)
	3,000,000		FHLMC Multifamily Structured Pass Through Certificates		2.307		08/25/22		3,093,112
			Series - 2012 K023 (Class A2)
	135,652		FHLMC Multifamily Structured Pass Through Certificates		2.779		09/25/22		138,457
			Series - 2013 K030 (Class A1)
	500,000		FHLMC Multifamily Structured Pass Through Certificates		2.510		11/25/22		518,371
			Series - 2013 K026 (Class A2)
	500,000		FHLMC Multifamily Structured Pass Through Certificates		2.637		01/25/23		520,833
			Series - 2013 K027 (Class A2)
	35,105		FHLMC Multifamily Structured Pass Through Certificates		2.669		02/25/23		36,008
			Series - 2013 K034 (Class A1)
	3,000,000	i	FHLMC Multifamily Structured Pass Through Certificates		3.060		07/25/23		3,189,959
			Series - 2013 K033 (Class A2)
	1,750,000	i	FHLMC Multifamily Structured Pass Through Certificates		3.531		07/25/23		1,884,126
			Series - 2013 K034 (Class A2)
	1,500,000	i	FHLMC Multifamily Structured Pass Through Certificates		3.527		10/25/23		1,626,722
			Series - 2014 K036 (Class A2)
	3,000,000		FHLMC Multifamily Structured Pass Through Certificates		3.023		01/25/25		3,286,924
			Series - 2015 K045 (Class A2)
	1,000,000		Ford Credit Auto Lease Trust		0.620		08/15/23		1,004,276
			Series - 2020 B (Class A3)
	1,000,000		Ford Credit Auto Lease Trust		0.690		10/15/23		1,003,481
			Series - 2020 B (Class A4)
	500,000		Ford Credit Auto Lease Trust		1.000		11/15/23		502,399
			Series - 2020 B (Class B)
	3,000,000		Ford Credit Auto Owner Trust		2.230		10/15/23		3,061,271
			Series - 2019 B (Class A3)
	2,350,000		Ford Credit Floorplan Master Owner Trust		2.230		09/15/24		2,429,002
			Series - 2019 3 (Class A1)
	850,000		Ford Credit Floorplan Master Owner Trust		2.440		09/15/26		902,821
			Series - 2019 4 (Class A)
	1,400,000		GM Financial Automobile Leasing Trust		3.300		07/20/22		1,407,873
			Series - 2018 3 (Class A4)
	1,000,000		GM Financial Consumer Automobile Receivables Trust		2.710		08/16/24		1,047,675
			Series - 2019 2 (Class A4)
	500,000		GM Financial Consumer Automobile Receivables Trust		1.490		12/16/24		509,944
			Series - 2020 2 (Class A3)

142

TIAA-CREF FUNDS – Bond Index Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	1,000,000	GM Financial Leasing Trust		0.450	%	08/21/23	$	999,143
		Series - 2020 3 (Class A3)
	1,000,000	GM Financial Leasing Trust		0.510		10/21/24		999,896
		Series - 2020 3 (Class A4)
	2,000,000	Honda Auto Receivables Owner Trust		2.520		06/21/23		2,050,100
		Series - 2019 2 (Class A3)
	2,068,000	Honda Auto Receivables Owner Trust		3.160		08/19/24		2,128,495
		Series - 2018 2 (Class A4)
	169,577	Hyundai Auto Receivables Trust		1.770		01/18/22		169,845
		Series - 2017 B (Class A3)
	1,500,000	Hyundai Auto Receivables Trust		1.960		02/15/23		1,511,641
		Series - 2017 B (Class A4)
	2,000,000	Hyundai Auto Receivables Trust		3.030		11/17/25		2,097,897
		Series - 2019 A (Class C)
	1,000,000	Mercedes-Benz Auto Lease Trust		0.400		11/15/23		1,000,030
		Series - 2020 B (Class A3)
	250,000	Mercedes-Benz Auto Lease Trust		0.500		06/15/26		249,953
		Series - 2020 B (Class A4)
	2,000,000	Nissan Auto Receivables Owner Trust		2.900		10/16/23		2,047,012
		Series - 2019 A (Class A3)
	2,000,000	Nissan Auto Receivables Owner Trust		2.500		11/15/23		2,049,503
		Series - 2019 B (Class A3)
	500,000	Santander Drive Auto Receivables Trust		0.520		07/15/24		500,970
		Series - 2020 3 (Class A3)
	500,000	Santander Drive Auto Receivables Trust		0.690		03/17/25		500,167
		Series - 2020 3 (Class B)
	2,000,000	Synchrony Card Funding LLC		2.340		06/15/25		2,063,238
		Series - 2019 A2 (Class A)
	2,160,000	Toyota Auto Receivables Owner Trust		1.360		08/15/24		2,200,332
		Series - 2020 B (Class A3)
	210,842	United Airlines Pass Through Trust		4.300		08/15/25		203,408
		Series - 2013 1 (Class A)
	215,430	United Airlines Pass Through Trust		3.750		09/03/26		203,605
		Series - 2014 2 (Class A)
	161,318	United Airlines Pass Through Trust		3.450		12/01/27		158,046
		Series - 2015 1 (Class AA)
	168,340	United Airlines Pass Through Trust		3.100		07/07/28		164,804
		Series - 2016 1 (Class AA)
	168,341	United Airlines Pass Through Trust		3.450		07/07/28		139,992
		Series - 2016 1 (Class A)
	347,138	United Airlines Pass Through Trust		2.875		10/07/28		329,639
		Series - 2016 2 (Class A)
	1,362,366	United Airlines Pass Through Trust		3.500		03/01/30		1,290,162
		Series - 2018 1 (Class AA)
	346,283	United Airlines Pass Through Trust		4.150		08/25/31		345,288
		Series - 2019 1 (Class AA)
	250,000	United Airlines Pass Through Trust		2.700		05/01/32		236,354
		Series - 2019 2 (Class )
	111,634	US Airways Pass Through Trust		4.625		06/03/25		92,503
		Series - 2012 2 (Class A)
	185,028	US Airways Pass Through Trust		3.950		11/15/25		152,204
		Series - 2013 1 (Class A)
	10,000,000	Wells Fargo Commercial Mortgage Trust		1.864		08/15/53		10,111,015
		Series - 2020 C57 (Class A3)
		TOTAL ASSET BACKED						115,517,236

143

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
OTHER MORTGAGE BACKED - 2.0%
$	2,000,000		BANK		3.538	%	11/15/54	$	2,278,770
			Series - 2017 BNK9 (Class A4)
	1,500,000		BANK		3.390		06/15/60		1,689,132
			Series - 2017 BNK5 (Class A5)
	5,000,000		BANK		3.641		02/15/61		5,586,449
			Series - 2018 BN10 (Class ASB)
	2,000,000	i	BANK		3.898		02/15/61		2,291,144
			Series - 2018 BN10 (Class AS)
	8,000,000		BANK		3.584		05/15/62		9,238,670
			Series - 2019 BN18 (Class A4)
	5,000,000		BANK		1.584		03/15/63		5,029,251
			Series - 2020 BN28 (Class A3)
	3,000,000		Barclays Commercial Mortgage Trust		3.674		02/15/50		3,427,163
			Series - 2017 C1 (Class A4)
	12,500,000		Barclays Commercial Mortgage Trust		2.690		02/15/53		13,171,104
			Series - 2020 C6 (Class A2)
	2,000,000	i	Benchmark Mortgage Trust		4.510		05/15/53		2,441,118
			Series - 2018 B7 (Class A4)
	3,000,000		BENCHMARK Mortgage Trust		3.571		01/15/51		3,123,344
			Series - 2018 B1 (Class A2)
	1,000,000	i	BENCHMARK Mortgage Trust		3.878		01/15/51		1,138,776
			Series - 2018 B1 (Class AM)
	1,000,000		BENCHMARK Mortgage Trust		3.976		07/15/51		1,067,155
			Series - 2018 B4 (Class A2)
	1,000,000	i	BENCHMARK Mortgage Trust		4.713		07/15/51		1,002,455
			Series - 2018 B4 (Class C)
	5,850,000		BENCHMARK Mortgage Trust		3.542		05/15/52		6,763,154
			Series - 2019 B11 (Class A5)
	1,000,000	i	BENCHMARK Mortgage Trust		2.944		02/15/53		1,091,686
			Series - 2020 B16 (Class AM)
	1,500,000	i	BENCHMARK Mortgage Trust		3.176		02/15/53		1,609,661
			Series - 2020 B16 (Class B)
	1,500,000	i	BENCHMARK Mortgage Trust		3.655		02/15/53		1,484,732
			Series - 2020 B16 (Class C)
	5,000,000		BENCHMARK Mortgage Trust		1.925		07/15/53		5,171,653
			Series - 2020 B18 (Class A5)
	5,000,000		BENCHMARK Mortgage Trust		2.914		12/15/72		5,244,275
			Series - 2019 B15 (Class A2)
	1,000,000	i	CD Commercial Mortgage Trust		3.526		11/10/49		1,124,992
			Series - 2016 CD2 (Class A4)
	2,000,000		CD Commercial Mortgage Trust		3.631		02/10/50		2,266,162
			Series - 2017 CD3 (Class A4)
	1,000,000		CD Commercial Mortgage Trust		3.025		08/15/50		1,025,090
			Series - 2017 CD5 (Class A2)
	2,500,000		CD Commercial Mortgage Trust		3.431		08/15/50		2,816,028
			Series - 2017 CD5 (Class A4)
	1,750,000		CD Commercial Mortgage Trust		4.279		08/15/51		2,086,530
			Series - 2018 CD7 (Class A4)
	1,000,000	i	CD Mortgage Trust		3.684		08/15/50		1,119,000
			Series - 2017 CD5 (Class AS)
	1,053,000		Citigroup Commercial Mortgage Trust		3.422		04/10/46		1,102,431
			Series - 2013 GC11 (Class AS)

144

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	755,000		Citigroup Commercial Mortgage Trust		4.023	%	03/10/47	$	821,034
			Series - 2014 GC19 (Class A4)
	440,887		Citigroup Commercial Mortgage Trust		3.622		07/10/47		478,964
			Series - 2014 GC23 (Class A4)
	500,000		Citigroup Commercial Mortgage Trust		3.635		10/10/47		545,779
			Series - 2014 GC25 (Class A4)
	1,000,000		Citigroup Commercial Mortgage Trust		3.137		02/10/48		1,081,084
			Series - 2015 GC27 (Class A5)
	1,000,000		Citigroup Commercial Mortgage Trust		3.571		02/10/48		1,076,334
			Series - 2015 GC27 (Class AS)
	1,000,000		Citigroup Commercial Mortgage Trust		3.616		02/10/49		1,120,979
			Series - 2016 GC36 (Class A5)
	2,000,000		Citigroup Commercial Mortgage Trust		3.314		04/10/49		2,211,677
			Series - 2016 GC37 (Class A4)
	500,000		Citigroup Commercial Mortgage Trust		3.576		04/10/49		547,344
			Series - 2016 GC37 (Class AS)
	1,500,000		Citigroup Commercial Mortgage Trust		2.832		08/10/49		1,619,419
			Series - 2016 C2 (Class A4)
	1,000,000		Citigroup Commercial Mortgage Trust		3.465		09/15/50		1,136,657
			Series - 2017 P8 (Class A4)
	2,000,000		Citigroup Commercial Mortgage Trust		4.074		06/10/51		2,123,949
			Series - 2018 C5 (Class A2)
	1,480,000		Citigroup Commercial Mortgage Trust		3.778		09/10/58		1,656,194
			Series - 2015 GC33 (Class A4)
	580,000		COMM Mortgage Trust		4.063		12/10/44		598,795
			Series - 2012 LC4 (Class AM)
	80,833		COMM Mortgage Trust		2.752		08/15/45		81,289
			Series - 2012 CR2 (Class ASB)
	320,949		COMM Mortgage Trust		2.941		01/10/46		333,227
			Series - 2013 LC6 (Class A4)
	320,069		COMM Mortgage Trust		3.213		03/10/46		334,769
			Series - 2013 CR7 (Class A4)
	1,000,000		COMM Mortgage Trust		4.046		10/10/46		1,087,735
			Series - 2013 CR12 (Class A4)
	295,009		COMM Mortgage Trust		2.928		02/10/47		298,750
			Series - 2014 CR15 (Class A2)
	2,750,000		COMM Mortgage Trust		3.955		02/10/47		2,956,219
			Series - 2014 CR14 (Class A3)
	500,000		COMM Mortgage Trust		3.961		03/10/47		545,849
			Series - 2014 UBS2 (Class A5)
	1,000,000		COMM Mortgage Trust		4.051		04/10/47		1,096,808
			Series - 2014 CR16 (Class A4)
	1,000,000		COMM Mortgage Trust		3.819		06/10/47		1,093,133
			Series - 2014 UBS3 (Class A4)
	1,000,000		COMM Mortgage Trust		3.694		08/10/47		1,093,508
			Series - 2014 UBS4 (Class A5)
	924,000		COMM Mortgage Trust		3.326		11/10/47		986,716
			Series - 2014 CR20 (Class A3)
	1,000,000		COMM Mortgage Trust		3.590		11/10/47		1,090,393
			Series - 2014 CR20 (Class A4)
	1,000,000	i	COMM Mortgage Trust		4.339		12/10/47		1,064,487
			Series - 2014 CR21 (Class B)
	3,150,000		COMM Mortgage Trust		3.183		02/10/48		3,414,480
			Series - 2015 LC19 (Class A4)

145

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	1,000,000	i	COMM Mortgage Trust		4.377	%	02/10/48	$	1,017,170
			Series - 2015 LC19 (Class C)
	1,700,000		COMM Mortgage Trust		3.708		07/10/48		1,879,850
			Series - 2015 LC21 (Class A4)
	966,243		COMM Mortgage Trust		3.432		08/10/48		1,064,149
			Series - 2015 CR24 (Class A4)
	1,000,000		COMM Mortgage Trust		3.759		08/10/48		1,118,540
			Series - 2015 CR25 (Class A4)
	1,057,386		COMM Mortgage Trust		3.221		10/10/48		1,063,999
			Series - 2015 LC23 (Class A2)
	1,500,000		COMM Mortgage Trust		3.774		10/10/48		1,684,179
			Series - 2015 LC23 (Class A4)
	500,000		COMM Mortgage Trust		4.258		08/10/50		544,359
			Series - 2013 CR11 (Class A4)
	5,000,000		COMM Mortgage Trust		2.827		08/15/57		5,315,102
			Series - 2019 GC44 (Class A2)
	3,000,000		COMM Mortgage Trust		3.263		08/15/57		3,338,520
			Series - 2019 GC44 (Class AM)
	650,000	i	CSAIL Commercial Mortgage Trust		5.088		01/15/49		677,242
			Series - 2016 C6 (Class C)
	2,000,000	i	CSAIL Commercial Mortgage Trust		4.224		08/15/51		2,377,467
			Series - 2018 CX12 (Class A4)
	10,000,000		CSAIL Commercial Mortgage Trust		4.053		03/15/52		11,661,291
			Series - 2019 C15 (Class A4)
	2,000,000		DBGS Mortgage Trust		4.358		10/15/51		2,179,713
			Series - 2018 C1 (Class A2)
	5,790,000		DBGS Mortgage Trust		4.466		10/15/51		6,978,934
			Series - 2018 C1 (Class A4)
	2,000,000		DBJPM		2.691		05/10/49		2,011,677
			Series - 2016 C1 (Class A2)
	3,500,000		DBJPM		3.276		05/10/49		3,862,811
			Series - 2016 C1 (Class A4)
	1,000,000		DBJPM		3.539		05/10/49		1,093,865
			Series - 2016 C1 (Class AM)
	1,590,000		DBJPM		3.328		06/10/50		1,788,047
			Series - 2017 C6 (Class A5)
	74,907		GS Mortgage Securities Corp II		3.314		01/10/45		75,428
			Series - 2012 GC6 (Class AAB)
	300,000		GS Mortgage Securities Corp II		2.943		02/10/46		311,317
			Series - 2013 GC10 (Class A5)
	300,000		GS Mortgage Securities Corp II		3.279		02/10/46		311,034
			Series - 2013 GC10 (Class AS)
	800,000		GS Mortgage Securities Corp II		3.382		05/10/50		874,028
			Series - 2015 GC30 (Class A4)
	498,119		GS Mortgage Securities Trust		3.482		01/10/45		508,225
			Series - 2012 GC6 (Class A3)
	195,000		GS Mortgage Securities Trust		4.740		05/10/45		200,215
			Series - 2012 GCJ7 (Class B)
	500,000		GS Mortgage Securities Trust		3.135		06/10/46		522,185
			Series - 2013 GC12 (Class A4)
	345,848		GS Mortgage Securities Trust		3.813		11/10/46		362,518
			Series - 2013 GC16 (Class AAB)

146

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	1,000,000		GS Mortgage Securities Trust		4.074	%	01/10/47	$	1,083,309
			Series - 2014 GC18 (Class A4)
	1,500,000		GS Mortgage Securities Trust		3.964		11/10/47		1,638,956
			Series - 2014 GC26 (Class AS)
	1,900,000		GS Mortgage Securities Trust		3.136		02/10/48		2,054,992
			Series - 2015 GC28 (Class A4)
	1,500,000		GS Mortgage Securities Trust		3.178		11/10/49		1,641,200
			Series - 2016 GS4 (Class A3)
	1,350,000	i	GS Mortgage Securities Trust		3.918		11/10/49		1,225,105
			Series - 2016 GS4 (Class C)
	1,000,000		GS Mortgage Securities Trust		2.945		08/10/50		1,030,146
			Series - 2017 GS7 (Class A2)
	1,500,000		GS Mortgage Securities Trust		3.430		08/10/50		1,695,820
			Series - 2017 GS7 (Class A4)
	1,000,000		GS Mortgage Securities Trust		3.872		02/10/52		1,078,135
			Series - 2019 GC38 (Class A2)
	2,500,000		GS Mortgage Securities Trust		3.968		02/10/52		2,926,867
			Series - 2019 GC38 (Class A4)
	500,000	i	GS Mortgage Securities Trust		4.309		02/10/52		563,859
			Series - 2019 GC38 (Class B)
	2,500,000		GS Mortgage Securities Trust		2.898		02/13/53		2,676,622
			Series - 2020 GC45 (Class A2)
	4,000,000	i	GS Mortgage Securities Trust		3.173		02/13/53		4,459,236
			Series - 2020 GC45 (Class AS)
	2,000,000	i	GS Mortgage Securities Trust		3.405		02/13/53		2,129,677
			Series - 2020 GC45 (Class B)
	2,000,000		GS Mortgage Securities Trust		2.125		05/12/53		2,097,091
			Series - 2020 GC47 (Class A4)
	4,000,000		GS Mortgage Securities Trust		2.377		05/12/53		4,275,687
			Series - 2020 GC47 (Class A5)
	300,000	i	JP Morgan Chase Commercial Mortgage Securities Corp		5.324		05/15/45		254,315
			Series - 2012 C6 (Class D)
	279,511		JP Morgan Chase Commercial Mortgage Securities Corp		3.483		06/15/45		285,431
			Series - 2012 CBX (Class A4)
	410,544	i	JP Morgan Chase Commercial Mortgage Securities Corp		3.994		01/15/46		440,795
			Series - 2013 C13 (Class A4)
	1,500,000		JP Morgan Chase Commercial Mortgage Securities Corp		2.960		04/15/46		1,566,945
			Series - 2013 LC11 (Class A5)
	77,168		JP Morgan Chase Commercial Mortgage Securities Corp		4.171		08/15/46		78,608
			Series - 2011 C5 (Class A3)
	500,000		JP Morgan Chase Commercial Mortgage Securities Corp		4.166		12/15/46		545,189
			Series - 2013 C16 (Class A4)
	206,697		JP Morgan Chase Commercial Mortgage Securities Corp		2.702		12/15/47		211,116
			Series - 2013 C10 (Class ASB)
	238,547		JP Morgan Chase Commercial Mortgage Securities Corp		2.840		12/15/47		245,932
			Series - 2012 LC9 (Class A5)

147

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	492,248		JP Morgan Chase Commercial Mortgage Securities Corp		3.143	%	12/15/47	$	514,306
			Series - 2013 C10 (Class A5)
	574,000		JP Morgan Chase Commercial Mortgage Securities Corp		3.372		12/15/47		598,981
			Series - 2013 C10 (Class AS)
	1,000,000		JP Morgan Chase Commercial Mortgage Securities Corp		2.822		08/15/49		1,084,004
			Series - 2016 JP2 (Class A4)
	1,400,000		JP Morgan Chase Commercial Mortgage Securities Corp		3.109		07/15/50		1,479,886
			Series - 2017 JP6 (Class A3)
	1,000,000		JP Morgan Chase Commercial Mortgage Securities Corp		3.038		09/15/50		1,031,406
			Series - 2017 JP7 (Class A2)
	2,500,000		JP Morgan Chase Commercial Mortgage Securities Corp		3.454		09/15/50		2,835,587
			Series - 2017 JP7 (Class A5)
	2,150,000		JP Morgan Chase Commercial Mortgage Securities Corp		3.219		06/13/52		2,422,442
			Series - 2019 COR5 (Class ASB)
	2,000,000		JPMBB Commercial Mortgage Securities Trust		3.801		09/15/47		2,193,171
			Series - 2014 C22 (Class A4)
	1,875,000	i	JPMBB Commercial Mortgage Securities Trust		4.118		05/15/48		1,947,999
			Series - 2015 C29 (Class B)
	2,700,000		JPMBB Commercial Mortgage Securities Trust		3.227		10/15/48		2,931,889
			Series - 2015 C28 (Class A4)
	1,100,000		JPMBB Commercial Mortgage Securities Trust		3.532		10/15/48		1,188,419
			Series - 2015 C28 (Class AS)
	2,000,000		JPMBB Commercial Mortgage Securities Trust		3.770		12/15/48		2,252,969
			Series - 2015 C33 (Class A4)
	1,000,000		JPMBB Commercial Mortgage Securities Trust		3.576		03/15/49		1,119,462
			Series - 2016 C1 (Class A5)
	500,000		JPMBB Commercial Mortgage Securities Trust		3.970		03/15/49		557,064
			Series - 2016 C1 (Class AS)
	500,000	i	JPMBB Commercial Mortgage Securities Trust		4.895		03/15/49		554,291
			Series - 2016 C1 (Class B)
	1,000,000	i	JPMDB Commercial Mortgage Securities Trust		3.990		06/15/49		1,037,867
			Series - 2016 C2 (Class B)
	5,922,824		JPMDB Commercial Mortgage Securities Trust		3.141		12/15/49		6,549,202
			Series - 2016 C4 (Class A3)
	5,000,000		JPMDB Commercial Mortgage Securities Trust		2.946		11/13/52		5,358,915
			Series - 2019 COR6 (Class A2)
	60,000		Morgan Stanley Bank of America Merrill Lynch Trust		2.918		02/15/46		62,275
			Series - 2013 C7 (Class A4)
	551,553		Morgan Stanley Bank of America Merrill Lynch Trust		2.834		05/15/46		572,579
			Series - 2013 C9 (Class A3)
	1,250,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.102		05/15/46		1,307,533
			Series - 2013 C9 (Class A4)

148

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	500,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.456	%	05/15/46	$	521,759
			Series - 2013 C9 (Class AS)
	240,000	i	Morgan Stanley Bank of America Merrill Lynch Trust		3.708		05/15/46		245,986
			Series - 2013 C9 (Class B)
	111,996		Morgan Stanley Bank of America Merrill Lynch Trust		3.824		10/15/46		116,315
			Series - 2013 C12 (Class ASB)
	224,113		Morgan Stanley Bank of America Merrill Lynch Trust		3.669		02/15/47		224,824
			Series - 2014 C14 (Class A3)
	934,898		Morgan Stanley Bank of America Merrill Lynch Trust		3.654		04/15/47		982,434
			Series - 2014 C15 (Class ASB)
	2,000,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.892		06/15/47		2,175,504
			Series - 2014 C16 (Class A5)
	3,500,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.249		02/15/48		3,790,146
			Series - 2015 C20 (Class A4)
	1,000,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.306		04/15/48		1,085,550
			Series - 2015 C22 (Class A4)
	1,000,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.732		05/15/48		1,115,764
			Series - 2015 C24 (Class A4)
	3,000,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.134		12/15/48		3,135,589
			Series - 2013 C8 (Class A4)
	2,000,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.599		05/15/50		2,261,832
			Series - 2017 C33 (Class A5)
	1,250,000		Morgan Stanley Capital I Trust		3.244		03/15/45		1,271,984
			Series - 2012 C4 (Class A4)
	535,000		Morgan Stanley Capital I Trust		3.594		03/15/49		592,352
			Series - 2016 UBS9 (Class A4)
	1,000,000		Morgan Stanley Capital I Trust		3.997		07/15/51		1,070,502
			Series - 2018 H3 (Class A2)
	1,000,000	i	Morgan Stanley Capital I Trust		5.012		07/15/51		1,032,839
			Series - 2018 H3 (Class C)
	1,500,000	i	Morgan Stanley Capital I Trust		4.238		10/15/51		1,753,298
			Series - 2018 L1 (Class ASB)
	2,000,000		Morgan Stanley Capital I Trust		4.288		10/15/51		2,179,110
			Series - 2018 L1 (Class A2)
	1,500,000	i	Morgan Stanley Capital I Trust		4.407		10/15/51		1,799,121
			Series - 2018 L1 (Class A4)
	1,000,000		Morgan Stanley Capital I Trust		4.071		03/15/52		1,178,806
			Series - 2019 L2 (Class A4)
	5,000,000		Morgan Stanley Capital I Trust		3.224		06/15/52		5,627,344
			Series - 2019 H6 (Class ASB)
	750,000		Morgan Stanley Capital I Trust		3.417		06/15/52		852,817
			Series - 2019 H6 (Class A4)
	5,000,000		Morgan Stanley Capital I Trust		1.790		07/15/53		5,083,922
			Series - 2020 HR8 (Class A3)
	1,500,000		UBS Barclays Commercial Mortgage Trust		3.185		03/10/46		1,564,961
			Series - 2013 C5 (Class A4)
	500,000		UBS Barclays Commercial Mortgage Trust		3.244		04/10/46		523,599
			Series - 2013 C6 (Class A4)
	1,000,000		UBS Barclays Commercial Mortgage Trust		3.525		05/10/63		1,030,572
			Series - 2012 C2 (Class A4)
	326,470		UBS Citigroup Commercial Mortgage Trust		3.595		01/10/45		331,499
			Series - 2011 C1 (Class A3)
	100,000		UBS Commercial Mortgage Trust		4.822		05/10/45		101,771
			Series - 2012 C1 (Class B)
	1,000,000		UBS Commercial Mortgage Trust		2.998		08/15/50		1,031,873
			Series - 2017 C3 (Class A2)

149

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	1,500,000		UBS Commercial Mortgage Trust		3.426	%	08/15/50	$	1,685,923
			Series - 2017 C3 (Class A4)
	1,000,000	i	UBS Commercial Mortgage Trust		3.739		08/15/50		1,111,241
			Series - 2017 C3 (Class AS)
	1,000,000		UBS Commercial Mortgage Trust		3.147		10/15/50		1,034,904
			Series - 2017 C4 (Class A2)
	5,000,000		UBS Commercial Mortgage Trust		3.713		02/15/51		5,229,754
			Series - 2018 C8 (Class A2)
	11,000,000		UBS Commercial Mortgage Trust		4.313		05/15/51		12,945,945
			Series - 2018 C10 (Class A4)
	2,000,000		UBS Commercial Mortgage Trust		4.296		08/15/51		2,386,958
			Series - 2018 C12 (Class A5)
	2,400,000	i	UBS Commercial Mortgage Trust		5.446		12/15/51		2,435,067
			Series - 2018 C14 (Class C)
	875,000	i	Wells Fargo Commercial Mortgage Trust		3.872		05/15/48		962,108
			Series - 2015 C28 (Class AS)
	2,000,000		Wells Fargo Commercial Mortgage Trust		3.695		11/15/48		2,236,596
			Series - 2015 C31 (Class A4)
	480,000	i	Wells Fargo Commercial Mortgage Trust		4.224		12/15/48		507,348
			Series - 2015 NXS4 (Class B)
	2,000,000		Wells Fargo Commercial Mortgage Trust		2.652		08/15/49		2,113,869
			Series - 2016 BNK1 (Class A3)
	500,000		Wells Fargo Commercial Mortgage Trust		2.967		08/15/49		494,721
			Series - 2016 BNK1 (Class B)
	1,000,000		Wells Fargo Commercial Mortgage Trust		3.377		11/15/49		1,097,003
			Series - 2016 NXS6 (Class AS)
	2,000,000		Wells Fargo Commercial Mortgage Trust		4.152		08/15/51		2,348,765
			Series - 2018 C46 (Class A4)
	2,700,000		Wells Fargo Commercial Mortgage Trust		3.760		03/15/52		3,092,590
			Series - 2019 C49 (Class A4)
	2,000,000		Wells Fargo Commercial Mortgage Trust		3.635		05/15/52		2,291,935
			Series - 2019 C50 (Class ASB)
	3,250,000		Wells Fargo Commercial Mortgage Trust		4.192		05/15/52		3,388,470
			Series - 2019 C50 (Class B)
	10,000,000		Wells Fargo Commercial Mortgage Trust		3.040		10/15/52		11,190,649
			Series - 2019 C53 (Class A4)
	117,000		Wells Fargo Commercial Mortgage Trust		3.896		03/15/59		116,515
			Series - 2016 C33 (Class C)
	600,000		WFRBS Commercial Mortgage Trust		3.337		06/15/46		633,181
			Series - 2013 C14 (Class A5)
	1,075,000		WF-RBS Commercial Mortgage Trust		3.037		03/15/45		1,114,366
			Series - 2013 C11 (Class A4)
	250,000	i	WF-RBS Commercial Mortgage Trust		4.965		06/15/45		182,404
			Series - 2012 C7 (Class C)
	400,000		WF-RBS Commercial Mortgage Trust		3.001		08/15/45		412,077
			Series - 2012 C8 (Class A3)
	775,000		WF-RBS Commercial Mortgage Trust		3.241		12/15/45		764,531
			Series - 2012 C10 (Class AS)
	500,000	i	WF-RBS Commercial Mortgage Trust		4.646		03/15/47		483,821
			Series - 2014 C19 (Class C)
	1,000,000	i	WF-RBS Commercial Mortgage Trust		4.723		03/15/47		1,068,235
			Series - 2014 C19 (Class B)

150

TIAA-CREF FUNDS – Bond Index Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	500,000		WF-RBS Commercial Mortgage Trust		3.198	%	03/15/48	$	524,101
			Series - 2013 C12 (Class A4)
			TOTAL OTHER MORTGAGE BACKED						344,047,792
			TOTAL STRUCTURED ASSETS						459,565,028
			(Cost $434,541,609)
			TOTAL BONDS						17,414,606,400
			(Cost $16,161,040,232)
SHORT-TERM INVESTMENTS - 2.4%
GOVERNMENT AGENCY DEBT - 1.1%
	32,311,000		Federal Home Loan Bank (FHLB)		0.080		10/22/20		32,309,869
	12,644,000		FHLB		0.090		10/23/20		12,643,536
	27,025,000		FHLB		0.080-0.095		10/28/20		27,023,784
	22,190,000		FHLB		0.080		11/04/20		22,188,533
	24,939,000		FHLB		0.080-0.090		11/13/20		24,936,915
	26,525,000		FHLB		0.090		11/20/20		26,522,421
	31,965,000		FHLB		0.090-0.105		12/16/20		31,958,927
	12,174,000		FHLB		0.100		01/20/21		12,170,622
			TOTAL GOVERNMENT AGENCY DEBT						189,754,607
REPURCHASE AGREEMENT - 0.1%
	9,965,000	r	Fixed Income Clearing Corp (FICC)		0.070		10/01/20		9,965,000
			TOTAL REPURCHASE AGREEMENT						9,965,000
TREASURY DEBT - 1.2%
	30,000,000		United States Cash Management Bill		0.080		10/13/20		29,999,313
	12,833,000		United States Cash Management Bill		0.086		11/17/20		12,831,408
	50,000,000		United States Treasury Bill		0.140		10/01/20		50,000,000
	20,000,000		United States Treasury Bill		0.060		10/06/20		19,999,812
	10,000,000		United States Treasury Bill		0.082		11/05/20		9,999,101
	21,465,000		United States Treasury Bill		0.091		11/27/20		21,461,602
	47,730,000		United States Treasury Bill		0.095		12/24/20		47,717,749
	25,000,000		United States Treasury Bill		0.095		01/21/21		24,991,833
			TOTAL TREASURY DEBT						217,000,818
			TOTAL SHORT-TERM INVESTMENTS						416,720,425
			(Cost $416,719,380)
			TOTAL INVESTMENTS - 101.9%						17,831,326,825
			(Cost $16,577,759,612)
			OTHER ASSETS & LIABILITIES, NET - (1.9)%						(329,072,468	)
			NET ASSETS - 100.0%					$	17,502,254,357

151

TIAA-CREF FUNDS – Bond Index Fund

	Abbreviation(s):
DGS1	1-Year Treasury Constant Maturity Rate
LIBOR	London Interbank Offered Rate
M	Month
REIT	Real Estate Investment Trust
‡	Perpetual security
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933, as amended. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 9/30/2020, the aggregate value of these securities is $159,989,711 or 0.9% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.
i	Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.
r	Agreement with Fixed Income Clearing Corporation, 0.070% dated 9/30/20 to be repurchased at $9,965,000 on 10/01/20, collateralized by U.S. Treasury Notes valued at $10,164,387.

152

TIAA-CREF FUNDS – Core Bond Fund

TIAA-CREF FUNDS

CORE BOND FUND

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2020

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
BANK LOAN OBLIGATIONS - 1.8%
AUTOMOBILES & COMPONENTS - 0.0%
$	992,481	i	Clarios Global LP	LIBOR 1 M + 3.500%		3.647	%	04/30/26	$	965,495
	989,796	i	Gates Global LLC	LIBOR 1 M + 2.750%		3.750		04/01/24		973,712
			TOTAL AUTOMOBILES & COMPONENTS							1,939,207
CAPITAL GOODS - 0.1%
	701,491	i	Avolon TLB Borrower US LLC	LIBOR 3 M + 1.750%		2.500		01/15/25		680,930
	920,375	i	Avolon TLB Borrower US LLC	LIBOR 1 M + 1.500%		2.250		02/12/27		881,913
	1,000,000	h,i	Cornerstone Building Brands, Inc	LIBOR 1 M + 3.750%		3.975		04/12/25		979,690
	997,500	i	Gardner Denver, Inc	LIBOR 1 M + 2.750%		2.897		03/01/27		982,328
	589,990	i	Prometric Holdings Inc	LIBOR 1 M + 3.000%		4.000		01/29/25		547,216
	1,466,307	i	TransDigm, Inc	LIBOR 1 M + 2.250%		2.397		08/22/24		1,385,498
	480,264	i	TransDigm, Inc	LIBOR 1 M + 2.250%		2.397		12/09/25		453,249
			TOTAL CAPITAL GOODS							5,910,824
COMMERCIAL & PROFESSIONAL SERVICES - 0.2%
	2,158,688	i	Allied Universal Holdco LLC	LIBOR 1 M + 4.250%		4.397		07/10/26		2,132,481
	486,244	i	Brightview Landscapes LLC	LIBOR 3 M + 2.500%		2.688		08/15/25		480,774
	1,368,182	i	Clean Harbors, Inc	LIBOR 3 M + 1.750%		1.897		06/28/24		1,363,393
	1,594,190	i	Filtration Group Corp	LIBOR 3 M + 3.000%		3.147		03/28/25		1,560,568
	2,179,953	h,i	GFL Environmental, Inc	LIBOR 3 M + 3.000%		4.000		05/30/25		2,167,963
	121,926	i	Gopher Sub, Inc	LIBOR 3 M + 3.000%		3.750		02/03/25		116,821
	258,427	i	KAR Auction Services, Inc	LIBOR 1 M + 2.250%		2.438		09/19/26		248,737
	795,918	i	Packers Holdings LLC	LIBOR 3 M + 3.250%		4.000		12/04/24		780,000
	2,354,842	h,i	Prime Security Services Borrower LLC	LIBOR 1 and 3 M + 3.250%		4.250		09/23/26		2,330,869
	1,484,887	i	Sedgwick Claims Management Services, Inc	LIBOR 3 M + 3.250%		3.397		12/31/25		1,430,139
	1,860,675	i	Spin Holdco, Inc	LIBOR 3 M + 3.250%		4.250		11/14/22		1,819,814
	1,434,009	i	Syneos Health Inc	LIBOR 3 M + 2.000%		1.897		08/01/24		1,400,396
	1,389,188	i	Trans Union LLC	LIBOR 1 M + 1.750%		1.897		11/16/26		1,352,500
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES							17,184,455
CONSUMER DURABLES & APPAREL - 0.0%
	1,080,853	i	Samsonite IP Holdings Sarl	LIBOR 3 M + 1.750%		1.897		04/25/25		1,009,516
			TOTAL CONSUMER DURABLES & APPAREL							1,009,516
CONSUMER SERVICES - 0.1%
	1,345,680	i	1011778 BC ULC	LIBOR 1 M + 1.750%		1.897		11/19/26		1,287,923
	1,473,282	i	AlixPartners LLP	LIBOR 1 M + 2.500%		2.647		04/04/24		1,435,301
	852,457	i	Boyd Gaming Corp	LIBOR 3 M + 2.250%		2.356		09/15/23		827,830
	360,000	i	Caesars Resort Collection LLC	LIBOR 1 M + 4.500%		4.647		07/21/25		347,900
	388,301	i,q	CDS US Intermediate Holdings, Inc	LIBOR 2 W + 5.500%		6.500		07/08/22		186,757
	327,277	i	KUEHG Corp	LIBOR 3 M + 3.750%		4.750		02/21/25		298,539
	1,904,671	i	Scientific Games International, Inc	LIBOR 1 and 3 M + 2.750%		2.897		08/14/24		1,787,744
	775,000	h,i	Sophia LP	LIBOR 1 M + 3.750%		5.000		09/22/27		769,381

153

TIAA-CREF FUNDS – Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	2,090,639	i	Sterling Midco Holdings, Inc	LIBOR 3 M + 3.500%		4.500	%	06/19/24	$	1,872,690
	497,539	i	YUM! Brands	LIBOR 1 M + 1.750%		1.900		04/03/25		484,996
			TOTAL CONSUMER SERVICES							9,299,061
DIVERSIFIED FINANCIALS - 0.0%
	617,423	i	Lions Gate Capital Holdings LLC	LIBOR 1 M + 2.250%		2.397		03/24/25		594,270
	1,375,000	h,i	Reynolds Group Holdings, Inc	Prime 3 M + 1.750%		2.897		02/06/23		1,348,875
			TOTAL DIVERSIFIED FINANCIALS							1,943,145
ENERGY - 0.1%
	1,417,875	i	Buckeye Partners LP	LIBOR 1 M + 2.750%		2.897		11/02/26		1,389,518
	641,875	i	ChampionX Holding, Inc	LIBOR 3 M + 5.000%		6.000		06/03/27		637,863
	1,932,672	i	Delek US Holdings, Inc	LIBOR 1 M + 2.250%		2.397		03/31/25		1,822,355
			TOTAL ENERGY							3,849,736
FOOD, BEVERAGE & TOBACCO - 0.0%
	150,000	i	Froneri US, Inc	LIBOR 1 M + 2.250%		2.397		01/29/27		143,839
	992,481	i	Hostess Brands LLC	LIBOR 1 and 3 M + 2.250%		3.000		08/01/25		974,557
	1,700,000	h,i	Shearer’s Foods LLC	LIBOR 1 M + 4.000%		4.750		09/15/27		1,686,196
			TOTAL FOOD, BEVERAGE & TOBACCO							2,804,592
HEALTH CARE EQUIPMENT & SERVICES - 0.2%
	1,075,689	i	Change Healthcare Holdings LLC	LIBOR 1 M + 2.500%		3.500		03/01/24		1,051,658
	2,169,563	i	Da Vinci Purchaser Corp	LIBOR 3 M + 4.000%		5.238		01/08/27		2,140,642
	1,237,523	i	DaVita, Inc	LIBOR 1 M + 1.750%		1.897		08/12/26		1,213,763
	1,772,005	i	Endo Luxembourg Finance I Co Sarl	LIBOR 3 M + 4.250%		5.000		04/29/24		1,683,404
	731,335	i	Envision Healthcare Corp	LIBOR 1 M + 3.750%		3.906		10/10/25		525,910
	989,718	i	ExamWorks Group Inc	LIBOR 3 M + 3.250%		4.250		07/27/23		981,552
	1,481,091	i	Gentiva Health Services, Inc	LIBOR 1 M + 3.250%		3.438		07/02/25		1,448,699
	237,848	i	Greatbatch Ltd	LIBOR 1 M + 2.500%		3.500		10/27/22		237,030
	2,059,438	i	Grifols Worldwide Operations USA, Inc	LIBOR 1 W + 2.000%		2.100		11/15/27		2,014,398
	610,172	i	NMN Holdings III Corp	LIBOR 1 M + 3.500%		3.647		11/13/25		581,189
	130,897	i	NMN Holdings III Corp	LIBOR 1 M + 3.500%		3.647		11/13/25		124,680
	2,322,060	i	RegionalCare Hospital Partners Holdings, Inc	LIBOR 1 M + 3.750%		3.897		11/16/25		2,252,399
	1,946,734	i	Select Medical Corp	LIBOR 3 M + 2.500%		2.780		03/06/25		1,890,765
			TOTAL HEALTH CARE EQUIPMENT & SERVICES							16,146,089
INSURANCE - 0.1%
	1,372,105	i	Acrisure LLC	LIBOR 1 M + 3.500%		3.647		02/15/27		1,322,366
	375,000	h,i	Alera Group Intermediate Holdings, Inc	LIBOR 1 M + 4.000%		5.000		09/25/25		368,438
	1,947,613	i	Asurion LLC	LIBOR 1 M + 3.000%		3.147		11/03/24		1,912,323
	1,488,750	i	HUB International Ltd	LIBOR 1 M + 4.000%		5.000		04/25/25		1,481,768
	1,997,914	i	NFP Corp	LIBOR 1 M + 3.250%		3.397		02/15/27		1,916,339
	1,984,655	i	USI, Inc	LIBOR 3 M + 3.000%		3.220		05/16/24		1,916,839
			TOTAL INSURANCE							8,918,073
MATERIALS - 0.2%
	1,300,000	i	Asplundh Tree Expert LLC	LIBOR 1 M + 2.500%		2.655		09/07/27		1,297,569
	985,721	i	Atotech Alpha 3 BV	LIBOR 3 M + 3.000%		4.000		01/31/24		968,885
	2,325,403	i	Berry Global, Inc	LIBOR 1 M + 2.000%		2.156		10/01/22		2,303,241
	1,932,722	i	Chemours Co	LIBOR 1 M + 1.750%		1.900		04/03/25		1,860,245
	1,098,128	i	H.B. Fuller Co	LIBOR 3 M + 2.000%		2.156		10/21/24		1,082,074

154

TIAA-CREF FUNDS – Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	2,000,000	h,i	Illuminate Buyer LLC	LIBOR 1 M + 4.000%		4.308	%	06/30/27	$	1,981,260
	1,748,375	i	Messer Industries USA, Inc	LIBOR 3 M + 2.500%		2.720		03/01/26		1,709,036
	1,500,000	i	PQ Corp	LIBOR 1 M + 2.250%		2.511		02/07/27		1,460,625
	334,109	i	Reynolds Consumer Products LLC	LIBOR 1 M + 1.750%		1.906		02/04/27		329,515
	287,896	i	Starfruit US Holdco LLC	LIBOR 1 M + 3.000%		3.151		10/01/25		278,335
	992,481	i	Tamko Building Products, Inc	LIBOR 3 M + 3.250%		3.397		05/29/26		975,113
	1,376,582	i	Tronox Finance LLC	LIBOR 1 and 3 M + 3.000%		3.220		09/23/24		1,352,987
	554,982	i	Univar USA, Inc	LIBOR 3 M + 2.250%		2.397		07/01/24		546,890
			TOTAL MATERIALS							16,145,775
MEDIA & ENTERTAINMENT - 0.2%
	300,000	i	Banijay Group US Holding, Inc	LIBOR 1 M + 3.750%		3.907		03/04/25		293,250
	200,000	h,i	Cablevision Lightpath LLC	LIBOR 3 M + 3.250%		4.250		12/31/27		198,750
	1,485,000	i	Diamond Sports Group LLC	LIBOR 1 M + 3.250%		3.400		08/24/26		1,145,930
	384,401	i	Nielsen Finance LLC	LIBOR 1 M + 2.000%		2.154		10/04/23		376,328
	2,294,250	i	Nielsen Finance LLC	LIBOR 1 M + 3.750%		4.750		06/06/25		2,289,661
	744,375	i	Pregis TopCo Corp	LIBOR 1 M + 3.750%		3.897		07/31/26		732,837
	1,200,000	h,i	Radiate Holdco LLC	LIBOR 1 M + 3.500%		4.250		09/11/26		1,177,500
	275,000	i	SkyMiles IP Ltd	LIBOR 1 M + 3.750%		4.750		10/20/27		276,818
	769,188	i	Terrier Media Buyer, Inc	LIBOR 1 M + 4.250%		4.397		12/17/26		749,135
	644,022	i	Univision Communications, Inc	LIBOR 1 M + 3.750%		4.750		03/15/26		625,854
	1,712,500	i	Vertical US Newco, Inc	LIBOR 6 M + 4.250%		4.570		07/31/27		1,696,300
	950,000	i	Virgin Media Bristol LLC	LIBOR 1 M + 2.500%		2.652		01/31/28		920,711
	267,406	i	Wand NewCo 3, Inc	LIBOR 1 M + 3.000%		3.147		02/05/26		257,630
			TOTAL MEDIA & ENTERTAINMENT							10,740,704
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.1%
	606,250	i	Alphabet Holding Co, Inc	LIBOR 1 M + 3.500%		3.647		09/26/24		588,172
	982,533	i	Auris Luxembourg III Sarl	LIBOR 3 M + 3.750%		3.897		02/27/26		903,931
	2,052,142	i	Bausch Health Americas, Inc	LIBOR 1 M + 3.000%		3.151		06/02/25		2,008,964
	1,302,857	i	Bausch Health Americas, Inc	LIBOR 1 M + 2.750%		2.901		11/27/25		1,270,286
	1,989,899	i	Catalent Pharma Solutions, Inc	LIBOR 3 M + 2.250%		3.250		05/18/26		1,977,462
	1,277,545	i	Horizon Therapeutics USA, Inc	LIBOR 1 M + 2.000%		2.188		05/22/26		1,263,172
	989,556	i	Jaguar Holding Co II	LIBOR 1 M + 2.500%		3.500		08/18/22		985,054
	997,169	i	PAREXEL International Corp	LIBOR 3 M + 2.750%		2.897		09/27/24		955,418
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES							9,952,459
REAL ESTATE - 0.0%
	1,713,916	i	Cushman & Wakefield plc	LIBOR 1 M + 2.750%		2.897		08/21/25		1,649,027
			TOTAL REAL ESTATE							1,649,027
RETAILING - 0.0%
	297,750	i	Camelot Finance S.A.	LIBOR 1 M + 3.000%		3.147		10/28/26		291,703
	980,057	i	Staples, Inc	LIBOR 3 M + 5.000%		5.251		04/16/26		909,306
			TOTAL RETAILING							1,201,009
SOFTWARE & SERVICES - 0.1%
	1,000,000	i	Camelot US Acquisition	LIBOR 3 M + 3.000%		4.250		10/31/26		994,580
	671,625	i	Dun & Bradstreet Corp	LIBOR 1 M + 3.750%		3.895		02/06/26		663,901
	68,912	i	IQVIA, Inc	LIBOR 1 M + 1.750%		1.897		03/07/24		67,793
	411,296	i	NeuStar, Inc	LIBOR 1 M + 3.500%		4.500		08/08/24		385,417

155

TIAA-CREF FUNDS – Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	1,500,000	h,i	Rackspace Technology Global, Inc	LIBOR 3 M + 3.000%		4.000	%	11/03/23	$	1,469,820
	918,010	i	Rocket Software, Inc	LIBOR 1 M + 4.250%		4.397		11/28/25		898,392
	1,750,000	i	Web.com Group Inc	LIBOR 1 M + 3.750%		3.901		10/10/25		1,687,438
			TOTAL SOFTWARE & SERVICES							6,167,341
TECHNOLOGY HARDWARE & EQUIPMENT - 0.1%
	371,250	i	CommScope, Inc	LIBOR 3 M + 3.250%		3.397		04/06/26		361,107
	3,255,380	i	Dell International LLC	LIBOR 1 M + 2.000%		2.750		09/19/25		3,238,224
	103,757	i	MTS Systems Corp	LIBOR 3 M + 3.250%		4.000		07/05/23		102,201
	853,125	i	Pitney Bowes Inc	LIBOR 1 M + 5.500%		5.650		01/07/25		827,958
	899,461	i	Plantronics, Inc	LIBOR 1 and 3 M + 2.500%		2.656		07/02/25		842,867
	755,472	i	TTM Technologies, Inc	LIBOR 3 M + 2.500%		2.655		09/28/24		740,362
	982,488	i	VeriFone Systems, Inc	LIBOR 3 M + 4.000%		4.253		08/20/25		877,892
	610,481	i	Western Digital Corp	LIBOR 1 M + 1.750%		1.906		04/29/23		604,596
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT							7,595,207
TELECOMMUNICATION SERVICES - 0.1%
	924,926	i	CNT Holdings III Corp	LIBOR 1 M + 3.000%		4.000		01/22/23		923,002
	696,500	i	Front Range BidCo, Inc	LIBOR 1 M + 3.000%		3.147		03/09/27		674,985
	2,244,375	i	T-Mobile USA, Inc	LIBOR 1 M + 3.000%		3.147		04/01/27		2,240,964
			TOTAL TELECOMMUNICATION SERVICES							3,838,951
TRANSPORTATION - 0.1%
	1,469,697	i	American Airlines, Inc	LIBOR 1 M + 2.000%		2.152		12/14/23		1,196,466
	317,168	i	Avis Budget Car Rental LLC	LIBOR 1 M + 2.250%		2.400		08/06/27		278,790
	423,938	i	Delta Air Lines, Inc	LIBOR 3 M + 4.750%		5.750		05/01/23		422,878
	279,563	i	Kenan Advantage Group, Inc	LIBOR 3 M + 3.000%		4.000		07/29/22		268,232
	1,175,620	i	Kenan Advantage Group, Inc	LIBOR 3 M + 3.000%		4.000		08/01/22		1,127,972
	550,000	i	Mileage Plus Holdings LLC	LIBOR 3 M + 5.250%		6.250		06/18/27		558,558
	2,000,000	i	XPO Logistics, Inc	LIBOR 1 M + 2.000%		2.147		02/24/25		1,958,180
			TOTAL TRANSPORTATION							5,811,076
UTILITIES - 0.1%
	995,000	i	AssuredPartners, Inc	LIBOR 1 M + 4.500%		5.500		02/12/27		990,443
	976,804	i	Calpine Corp	LIBOR 1 M + 2.250%		2.400		01/15/24		949,249
	2,064,400	i	First Eagle Holdings, Inc	LIBOR 1 M + 2.500%		2.808		02/02/27		2,012,047
	1,980,568	i	Gopher Resource LLC	LIBOR 3 M + 3.250%		4.250		03/06/25		1,916,199
	812,250	i	Talen Energy Supply LLC	LIBOR 1 M + 3.750%		3.897		06/26/26		800,740
	915,060	i	Vistra Operations Co LLC	LIBOR 1 M + 1.750%		1.901		12/31/25		900,538
			TOTAL UTILITIES							7,569,216
			TOTAL BANK LOAN OBLIGATIONS							139,675,463
			(Cost $143,252,441)
BONDS - 94.9%
CORPORATE BONDS - 42.5%
AUTOMOBILES & COMPONENTS - 0.4%
	2,500,000	g	Adient Global Holdings Ltd			4.875		08/15/26		2,381,250
	200,000	g	Adient US LLC			9.000		04/15/25		220,500
	450,000	g	Dana Financing Luxembourg SARL			6.500		06/01/26		469,125

156

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	225,000		Dana, Inc		5.375	%	11/15/27	$	230,625
	225,000		Dana, Inc		5.625		06/15/28		232,313
	750,000		Ford Motor Co		8.500		04/21/23		817,500
	775,000		Ford Motor Co		9.000		04/22/25		888,545
	4,900,000	g	Gates Global LLC		6.250		01/15/26		5,034,750
	5,550,000		General Motors Co		6.125		10/01/25		6,445,893
	1,400,000		General Motors Co		5.000		10/01/28		1,574,464
	1,700,000		General Motors Co		6.600		04/01/36		2,066,353
	5,050,000		General Motors Co		5.200		04/01/45		5,431,682
	475,000		General Motors Co		6.750		04/01/46		584,897
	1,000,000	g,o	IHO Verwaltungs GmbH		6.375		05/15/29		1,065,000
	1,750,000		Magna International, Inc		3.625		06/15/24		1,927,075
			TOTAL AUTOMOBILES & COMPONENTS						29,369,972
BANKS - 8.2%
	2,000,000	g	Akbank T.A.S.		6.800		02/06/26		1,937,519
	1,900,000	g	Akbank TAS		7.200		03/16/27		1,734,320
	4,100,000	g	Australia & New Zealand Banking Group Ltd		2.950		07/22/30		4,248,543
	2,000,000	g	Banco de Bogota S.A.		4.375		08/03/27		2,098,600
	2,100,000	g	Banco de Credito del Peru		2.700		01/11/25		2,186,100
	3,000,000	g	Banco del Estado de Chile		2.668		01/08/21		3,007,500
	2,375,000	g	Banco del Estado de Chile		2.704		01/09/25		2,496,742
	2,000,000	g	Banco Internacional del Peru SAA Interbank		3.375		01/18/23		2,070,000
	3,300,000	g	Banco Internacional del Peru SAA Interbank		4.000		07/08/30		3,316,500
	2,150,000	g	Banco Santander Mexico S.A. Institucion de Banca Multiple Grupo Financiero Santand		5.375		04/17/25		2,390,800
	1,000,000		Banco Santander S.A.		2.746		05/28/25		1,050,830
	4,200,000		Banco Santander S.A.		3.800		02/23/28		4,615,517
	1,700,000		Bancolombia S.A.		3.000		01/29/25		1,702,754
	1,325,000		Bancolombia S.A.		4.625		12/18/29		1,286,906
	2,000,000	g	Banistmo S.A.		4.250		07/31/27		2,034,000
	3,000,000	g	Bank Leumi Le-Israel BM		3.275		01/29/31		3,014,940
	10,000,000		Bank of America Corp		3.550		03/05/24		10,651,470
	10,000,000		Bank of America Corp		4.000		01/22/25		11,137,281
	2,450,000		Bank of America Corp		3.875		08/01/25		2,781,363
	14,500,000		Bank of America Corp		0.981		09/25/25		14,496,480
	20,300,000		Bank of America Corp		2.456		10/22/25		21,406,627
	1,000,000		Bank of America Corp		4.450		03/03/26		1,148,159
	7,100,000		Bank of America Corp		1.319		06/19/26		7,142,780
	5,000,000		Bank of America Corp		4.250		10/22/26		5,786,408
	6,800,000		Bank of America Corp		3.248		10/21/27		7,509,970
	11,100,000		Bank of America Corp		3.824		01/20/28		12,576,561
	6,965,000		Bank of America Corp		3.419		12/20/28		7,757,965
	925,000		Bank of America Corp		2.884		10/22/30		998,428
	26,650,000		Bank of America Corp		2.496		02/13/31		27,779,665
	11,550,000		Bank of America Corp		1.898		07/23/31		11,499,180
	5,000,000		Bank of America Corp		4.083		03/20/51		6,178,057
	5,000,000		Bank of America Corp		6.250		N/A‡		5,356,250
	4,000,000		Bank of America Corp		6.100		N/A‡		4,354,440
	2,100,000		Barclays plc		4.338		05/16/24		2,254,298
	7,000,000		Barclays plc		3.932		05/07/25		7,537,313
	5,550,000	g	BNP Paribas S.A.		2.819		11/19/25		5,854,667
	1,625,000	g	BNP Paribas S.A.		2.219		06/09/26		1,675,810

157

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	3,075,000	g	BNP Paribas S.A.		1.904	%	09/30/28	$	3,060,904
	3,650,000	g	BNP Paribas S.A.		3.052		01/13/31		3,920,502
	2,800,000	g	BNP Paribas S.A.		2.588		08/12/35		2,717,134
	2,600,000	g	BPCE S.A.		4.625		07/11/24		2,862,909
	5,750,000		Citigroup, Inc		3.875		03/26/25		6,325,607
	8,000,000		Citigroup, Inc		3.352		04/24/25		8,654,011
	4,025,000		Citigroup, Inc		3.200		10/21/26		4,438,086
	2,200,000		Citigroup, Inc		4.300		11/20/26		2,518,156
	9,250,000		Citigroup, Inc		4.450		09/29/27		10,714,480
	32,075,000		Citigroup, Inc		2.666		01/29/31		33,735,900
	5,550,000		Citigroup, Inc		4.412		03/31/31		6,656,353
	3,600,000		Citigroup, Inc		2.572		06/03/31		3,783,915
	4,000,000		Citigroup, Inc		6.300		N/A‡		4,190,000
	5,000,000		Citigroup, Inc		5.000		N/A‡		4,975,000
	2,225,000		Citizens Bank NA		2.650		05/26/22		2,299,122
	375,000		Cooperatieve Rabobank UA		3.950		11/09/22		398,439
	2,250,000	g	Cooperatieve Rabobank UA		2.625		07/22/24		2,400,674
	4,775,000		Cooperatieve Rabobank UA		3.750		07/21/26		5,316,791
	2,350,000	g	Credicorp Ltd		2.750		06/17/25		2,379,375
	7,475,000	g	Credit Agricole S.A.		3.250		10/04/24		8,077,560
	5,200,000	g	Credit Agricole S.A.		1.907		06/16/26		5,316,923
	315,000	g	Danske Bank AS		5.375		01/12/24		354,262
	1,525,000	g	DBS Group Holdings Ltd		4.520		12/11/28		1,665,239
	1,000,000		Discover Bank		3.200		08/09/21		1,020,108
	4,200,000		Discover Bank		2.450		09/12/24		4,430,310
	5,400,000		Discover Bank		3.450		07/27/26		5,909,942
	2,275,000		Discover Bank		2.700		02/06/30		2,378,922
	807,000		Fifth Third Bancorp		3.500		03/15/22		840,421
	1,475,000		HSBC Holdings plc		3.033		11/22/23		1,538,530
	1,650,000		HSBC Holdings plc		2.633		11/07/25		1,718,685
	3,025,000		HSBC Holdings plc		1.645		04/18/26		3,016,474
	625,000		HSBC Holdings plc		3.900		05/25/26		690,666
	15,640,000		HSBC Holdings plc		4.292		09/12/26		17,415,575
	750,000		HSBC Holdings plc		4.375		11/23/26		827,152
	2,025,000		HSBC Holdings plc		4.041		03/13/28		2,236,944
	900,000		HSBC Holdings plc		2.013		09/22/28		890,376
	2,275,000		HSBC Holdings plc		4.950		03/31/30		2,738,049
	3,850,000		HSBC Holdings plc		3.973		05/22/30		4,307,495
	2,000,000		HSBC Holdings plc		2.357		08/18/31		1,979,480
	590,000		HSBC Holdings plc		6.800		06/01/38		828,320
	360,000		Huntington Bancshares, Inc		4.000		05/15/25		410,112
	4,100,000		Huntington National Bank		2.500		08/07/22		4,248,070
	2,875,000	g	ICICI Bank Ltd		3.800		12/14/27		2,971,659
	2,075,000	g	ING Groep NV		4.625		01/06/26		2,433,160
	6,775,000	g	ING Groep NV		1.400		07/01/26		6,850,771
	400,000		ING Groep NV		3.950		03/29/27		458,141
	3,000,000	g	Intercorp Financial Services, Inc		4.125		10/19/27		3,063,900
	695,000		JPMorgan Chase & Co		3.875		09/10/24		768,731
	10,000,000		JPMorgan Chase & Co		4.023		12/05/24		10,997,155
	9,400,000		JPMorgan Chase & Co		2.301		10/15/25		9,888,177
	2,500,000		JPMorgan Chase & Co		3.200		06/15/26		2,772,255
	13,000,000		JPMorgan Chase & Co		4.203		07/23/29		15,378,426
	19,405,000		JPMorgan Chase & Co		3.702		05/06/30		22,257,110
	18,950,000		JPMorgan Chase & Co		2.739		10/15/30		20,400,785

158

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	7,000,000		JPMorgan Chase & Co		4.493	%	03/24/31	$	8,529,757
	12,680,000		JPMorgan Chase & Co		2.522		04/22/31		13,496,502
	4,600,000		JPMorgan Chase & Co		2.956		05/13/31		4,916,985
	700,000		JPMorgan Chase & Co		4.260		02/22/48		878,995
	6,535,000		JPMorgan Chase & Co		5.000		N/A‡		6,523,736
	7,200,000		Mitsubishi UFJ Financial Group, Inc		2.193		02/25/25		7,539,485
	1,550,000		MUFG Americas Holdings Corp		3.500		06/18/22		1,624,405
	4,400,000		Natwest Group plc		3.032		11/28/35		4,226,552
	2,335,000	g	Oversea-Chinese Banking Corp Ltd		1.832		09/10/30		2,327,649
	1,800,000		PNC Bank NA		2.450		11/05/20		1,800,416
	5,050,000		PNC Bank NA		2.700		10/22/29		5,462,503
	1,500,000		PNC Financial Services Group, Inc		3.900		04/29/24		1,651,902
	5,100,000		Royal Bank of Canada		2.550		07/16/24		5,454,909
	5,000,000		Royal Bank of Scotland Group plc		3.498		05/15/23		5,178,190
	3,250,000		Royal Bank of Scotland Group plc		3.073		05/22/28		3,413,476
	3,125,000		Santander Holdings USA, Inc		3.400		01/18/23		3,271,561
	3,600,000	g	Skandinaviska Enskilda Banken AB		2.625		11/17/20		3,610,692
	6,500,000		Sumitomo Mitsui Financial Group, Inc		2.696		07/16/24		6,914,715
	5,550,000		Toronto-Dominion Bank		1.150		06/12/25		5,638,894
	1,300,000		Toronto-Dominion Bank		3.625		09/15/31		1,460,449
	1,675,000		Truist Bank		3.525		10/26/21		1,678,373
	570,000		Truist Bank		2.450		08/01/22		590,472
	1,075,000		Truist Bank		2.750		05/01/23		1,133,773
	10,000,000		Truist Bank		3.689		08/02/24		10,856,516
	2,250,000		Truist Bank		2.150		12/06/24		2,381,914
	5,000,000		Truist Financial Corp		4.950		N/A‡		5,262,500
	4,000,000		Truist Financial Corp		4.800		N/A‡		4,015,000
	1,500,000	g	Turkiye Garanti Bankasi AS.		6.125		05/24/27		1,345,200
	1,400,000	g	United Overseas Bank Ltd		3.750		04/15/29		1,493,210
	3,875,000		Westpac Banking Corp		4.110		07/24/34		4,353,734
			TOTAL BANKS						624,534,451
CAPITAL GOODS - 1.2%
	1,500,000	g	Adaro Indonesia PT		4.250		10/31/24		1,458,750
	2,125,000	g	BAE Systems plc		3.400		04/15/30		2,377,877
	1,325,000	g	BAE Systems plc		1.900		02/15/31		1,311,357
	500,000	g	Beacon Escrow Corp		4.875		11/01/25		490,000
	200,000	g	Beacon Roofing Supply, Inc		4.500		11/15/26		206,000
	2,000,000	g	BOC Aviation Ltd		3.000		09/11/29		2,033,940
	225,000	g	Cloud Crane LLC		10.125		08/01/24		228,094
	975,000	g	Embraer Netherlands Finance BV		6.950		01/17/28		987,109
	232,000		General Electric Co		6.875		01/10/39		296,788
	1,250,000	g	Gold Fields Orogen Holdings BVI Ltd		6.125		05/15/29		1,453,125
	200,000		Howmet Aerospace, Inc		6.875		05/01/25		221,000
	500,000		Ingersoll-Rand Global Holding Co Ltd		3.750		08/21/28		574,241
	6,655,000		Ingersoll-Rand Luxembourg Finance S.A.		3.800		03/21/29		7,797,904
	7,000,000		John Deere Capital Corp		3.650		10/12/23		7,691,191
	640,000		John Deere Capital Corp		2.650		06/24/24		688,731
	1,150,000		Johnson Controls International plc		1.750		09/15/30		1,159,668
	1,100,000		L3Harris Technologies, Inc		3.850		06/15/23		1,190,849
	2,550,000		L3Harris Technologies, Inc		2.900		12/15/29		2,782,842
	830,000		Lockheed Martin Corp		2.500		11/23/20		831,050
	850,000		Lockheed Martin Corp		1.850		06/15/30		884,135

159

TIAA-CREF FUNDS – Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	1,100,000		Lockheed Martin Corp			2.800	%	06/15/50	$	1,142,612
	2,503,000	g	Molex Electronic Technologies LLC			3.900		04/15/25		2,601,138
	2,000,000	g	NBM US Holdings, Inc			6.625		08/06/29		2,142,500
	5,775,000		Northrop Grumman Corp			3.250		01/15/28		6,485,424
	10,825,000		Parker-Hannifin Corp			3.250		06/14/29		12,115,998
	3,300,000		Raytheon Technologies Corp			2.250		07/01/30		3,465,833
	2,500,000		Roper Technologies, Inc			3.800		12/15/26		2,884,535
	850,000		Roper Technologies, Inc			4.200		09/15/28		1,014,119
	1,000,000		Roper Technologies, Inc			2.950		09/15/29		1,100,030
	250,000		Trimble, Inc			4.900		06/15/28		294,859
	3,000,000	g	TSMC Global Ltd			0.750		09/28/25		2,972,621
	3,000,000	g	TSMC Global Ltd			1.000		09/28/27		2,946,514
	248,000		United Technologies Corp			3.650		08/16/23		267,930
	6,975,000		United Technologies Corp			4.125		11/16/28		8,254,331
	5,000,000		United Technologies Corp			4.500		06/01/42		6,300,750
	575,000	g	WESCO Distribution, Inc			7.125		06/15/25		626,347
	425,000	g	WESCO Distribution, Inc			7.250		06/15/28		465,662
	500,000		Xylem, Inc			2.250		01/30/31		529,734
			TOTAL CAPITAL GOODS							90,275,588
COMMERCIAL & PROFESSIONAL SERVICES - 0.4%
	500,000		ADT Corp			4.125		06/15/23		524,062
	1,000,000		AECOM			5.125		03/15/27		1,080,120
	325,000	g	ASGN, Inc			4.625		05/15/28		326,339
	1,993,445	g	British Airways			3.800		09/20/31		1,953,524
	1,400,000	g	Central American Bottling Corp			5.750		01/31/27		1,450,386
	150,000	g	GFL Environmental, Inc			4.250		06/01/25		151,500
	1,000,000	g	GFL Environmental, Inc			3.750		08/01/25		997,500
	125,000	g	GFL Environmental, Inc			5.125		12/15/26		130,000
	850,000		IHS Markit Ltd			4.125		08/01/23		924,375
	1,375,000		IHS Markit Ltd			4.250		05/01/29		1,595,110
	1,500,000	g,i	Nakama Re Ltd	LIBOR 6 M + 2.200%		2.200		10/13/21		1,495,650
	2,125,000	g	Prime Security Services Borrower LLC			5.750		04/15/26		2,272,433
	1,300,000	g	Prime Security Services Borrower LLC			3.375		08/31/27		1,249,625
	705,000	g	Prime Security Services Borrower LLC			6.250		01/15/28		713,813
	3,400,000		Republic Services, Inc			3.550		06/01/22		3,546,865
	2,225,000		Republic Services, Inc			2.900		07/01/26		2,460,006
	100,000	g	Ritchie Bros Auctioneers, Inc			5.375		01/15/25		102,875
	1,000,000		United Rentals North America, Inc			5.875		09/15/26		1,053,750
	880,000		Verisk Analytics, Inc			4.125		03/15/29		1,037,172
	525,000		Verisk Analytics, Inc			3.625		05/15/50		597,272
	1,800,000		Waste Management, Inc			2.900		09/15/22		1,875,952
	550,000		Waste Management, Inc			4.100		03/01/45		671,750
	1,475,000		Waste Management, Inc			4.150		07/15/49		1,878,853
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES							28,088,932
CONSUMER DURABLES & APPAREL - 0.0%
	750,000		Leggett & Platt, Inc			4.400		03/15/29		831,428
	800,000		Lennar Corp			4.500		04/30/24		858,000
	219,000		Newell Brands, Inc			4.875		06/01/25		236,246
			TOTAL CONSUMER DURABLES & APPAREL							1,925,674

160

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
CONSUMER SERVICES - 0.4%
$	16,500,000		Anheuser-Busch Cos LLC		3.650	%	02/01/26	$	18,440,592
	5,500,000		Anheuser-Busch Cos LLC		4.900		02/01/46		6,817,734
	750,000	g	Arcos Dorados Holdings, Inc		5.875		04/04/27		784,140
	1,100,000	g	Cedar Fair LP		5.500		05/01/25		1,130,250
	125,000	g	Hilton Domestic Operating Co, Inc		5.375		05/01/25		129,848
	125,000	g	Hilton Domestic Operating Co, Inc		5.750		05/01/28		132,187
	540,000	g	International Game Technology plc		6.250		01/15/27		578,491
	1,550,000	g	Melco Resorts Finance Ltd		5.750		07/21/28		1,578,738
	950,000	g	MGM China Holdings Ltd		5.250		06/18/25		961,875
	1,400,000		Sands China Ltd		5.400		08/08/28		1,557,388
	1,250,000	g	Wynn Macau Ltd		5.500		01/15/26		1,231,875
	100,000	g	Yum! Brands, Inc		7.750		04/01/25		110,500
			TOTAL CONSUMER SERVICES						33,453,618
DIVERSIFIED FINANCIALS - 3.9%
	600,000		AerCap Ireland Capital DAC		5.000		10/01/21		618,411
	4,100,000		AerCap Ireland Capital DAC		3.650		07/21/27		3,753,742
	1,500,000		AerCap Ireland Capital DAC		4.625		10/15/27		1,454,733
	1,775,000		American Express Co		2.500		08/01/22		1,838,042
	710,000		American Express Co		2.650		12/02/22		743,733
	1,250,000		American Express Co		3.700		08/03/23		1,353,971
	2,000,000		American Express Credit Corp		3.300		05/03/27		2,257,853
	1,700,000		Ameriprise Financial, Inc		3.000		03/22/22		1,763,920
	1,750,000		Australia & New Zealand Banking Group Ltd		2.625		05/19/22		1,816,215
	2,000,000	g	Banco BTG Pactual S.A.		4.500		01/10/25		2,042,520
	3,000,000	g	Bangkok Bank PCL		5.000		N/A‡		3,001,379
	3,750,000		Bank of Montreal		3.803		12/15/32		4,177,516
	875,000	g	BBVA Bancomer S.A.		1.875		09/18/25		854,875
	455,000	g	BBVA Bancomer S.A.		5.350		11/12/29		450,450
	2,850,000	g	BBVA Bancomer S.A.		5.125		01/18/33		2,743,125
	1,740,000		Berkshire Hathaway, Inc		3.125		03/15/26		1,942,069
	7,868,000		Capital One Bank USA NA		3.375		02/15/23		8,314,808
	2,490,000		Capital One Financial Corp		3.750		03/09/27		2,763,465
	1,900,000	g	Comcel Trust		6.875		02/06/24		1,936,632
	2,500,000	g	Credit Suisse Group AG.		2.997		12/14/23		2,602,116
	5,750,000	g	Credit Suisse Group AG.		2.193		06/05/26		5,937,194
	5,725,000	g	Credit Suisse Group AG.		4.194		04/01/31		6,605,129
	3,950,000		Credit Suisse Group Funding Guernsey Ltd		3.800		06/09/23		4,247,754
	1,650,000		Credit Suisse Group Funding Guernsey Ltd		3.750		03/26/25		1,828,018
	4,500,000		Deutsche Bank AG.		3.547		09/18/31		4,521,954
	545,000		Discover Financial Services		5.200		04/27/22		581,755
	2,075,000		Ford Motor Credit Co LLC		3.096		05/04/23		2,026,237
	5,000,000		Ford Motor Credit Co LLC		3.664		09/08/24		4,892,625
	5,640,000		GE Capital International Funding Co		2.342		11/15/20		5,652,622
	7,700,000		GE Capital International Funding Co		3.373		11/15/25		8,211,559
	11,705,000		GE Capital International Funding Co		4.418		11/15/35		12,370,329
	2,650,000		General Motors Financial Co, Inc		2.750		06/20/25		2,714,448
	8,625,000		General Motors Financial Co, Inc		5.650		01/17/29		10,068,541
	5,550,000		General Motors Financial Co, Inc		3.600		06/21/30		5,722,299
	5,450,000		General Motors Financial Co, Inc		5.700		N/A‡		5,470,437
	1,280,000		Goldman Sachs Group, Inc		5.750		01/24/22		1,366,314
	5,000,000		Goldman Sachs Group, Inc		3.625		02/20/24		5,429,282
	4,650,000		Goldman Sachs Group, Inc		3.500		01/23/25		5,101,072

161

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	13,900,000		Goldman Sachs Group, Inc		3.691	%	06/05/28	$	15,583,836
	9,300,000		Goldman Sachs Group, Inc		2.600		02/07/30		9,813,145
	360,000		Goldman Sachs Group, Inc		6.750		10/01/37		520,904
	1,900,000		Goldman Sachs Group, Inc		4.017		10/31/38		2,213,091
	600,000		Goldman Sachs Group, Inc		4.800		07/08/44		783,765
	850,000	g	Grupo Aval Ltd		4.750		09/26/22		870,188
	1,675,000	g	Grupo Aval Ltd		4.375		02/04/30		1,616,375
	500,000		Icahn Enterprises LP		4.750		09/15/24		506,250
	925,000		Icahn Enterprises LP		5.250		05/15/27		963,665
	1,900,000		International Lease Finance Corp		5.875		08/15/22		2,032,986
	500,000	g	Jefferies Finance LLC		6.250		06/03/26		507,500
	475,000		Legg Mason, Inc		3.950		07/15/24		525,298
	1,040,000		Morgan Stanley		4.000		07/23/25		1,173,488
	9,700,000		Morgan Stanley		2.188		04/28/26		10,153,729
	14,325,000		Morgan Stanley		3.125		07/27/26		15,813,747
	100,000		Morgan Stanley		3.625		01/20/27		112,962
	685,000		Morgan Stanley		3.950		04/23/27		773,854
	16,500,000		Morgan Stanley		2.699		01/22/31		17,615,400
	2,475,000	g	Power Finance Corp Ltd		3.950		04/23/30		2,397,385
	775,000	g	Quicken Loans, Inc		5.250		01/15/28		816,586
	1,125,000	g	REC Ltd		4.750		05/19/23		1,183,738
	2,550,000		Shire Acquisitions Investments Ireland DAC		3.200		09/23/26		2,834,697
	550,000		Springleaf Finance Corp		5.375		11/15/29		572,000
	550,000		State Street Corp		3.300		12/16/24		609,020
	1,100,000	g	Swiss Re Finance Luxembourg SA		5.000		04/02/49		1,253,588
	1,100,000		Synchrony Financial		4.375		03/19/24		1,190,293
	3,700,000		Synchrony Financial		4.250		08/15/24		4,019,962
	1,050,000	g	UBS AG.		2.450		12/01/20		1,051,814
	5,075,000	g	UBS Group AG.		2.859		08/15/23		5,269,184
	3,050,000	g	UBS Group AG.		3.126		08/13/30		3,385,073
	650,000		Voya Financial, Inc		5.700		07/15/43		870,602
	3,650,000		Wells Fargo & Co		3.750		01/24/24		3,965,228
	3,425,000		Wells Fargo & Co		3.550		09/29/25		3,808,188
	2,500,000		Wells Fargo & Co		3.000		10/23/26		2,728,946
	10,475,000		Wells Fargo & Co		2.393		06/02/28		10,924,171
	6,050,000		Wells Fargo & Co		2.879		10/30/30		6,452,997
	6,000,000		Wells Fargo & Co		5.900		N/A‡		6,132,582
	8,500,000		Wells Fargo & Co		5.875		N/A‡		9,157,900
			TOTAL DIVERSIFIED FINANCIALS						289,381,281
ENERGY - 3.4%
	1,450,000	g	Abu Dhabi Crude Oil Pipeline LLC		4.600		11/02/47		1,774,145
	1,075,000		AmeriGas Partners LP		5.875		08/20/26		1,181,672
	335,000		BP Capital Markets plc		2.520		09/19/22		347,674
	565,000		Chevron Corp		2.355		12/05/22		586,499
	5,550,000		Chevron Corp		1.554		05/11/25		5,749,895
	2,525,000		Chevron Corp		2.236		05/11/30		2,677,555
	5,875,000		Concho Resources, Inc		2.400		02/15/31		5,613,872
	1,125,000		Crestwood Midstream Partners LP		5.750		04/01/25		1,023,750
	5,075,000		Diamondback Energy, Inc		2.875		12/01/24		5,137,545
	2,000,000		Ecopetrol S.A.		5.375		06/26/26		2,210,000
	1,550,000		Ecopetrol S.A.		6.875		04/29/30		1,856,125
	750,000		Ecopetrol S.A.		5.875		05/28/45		817,500
	4,175,000		Enbridge, Inc		3.125		11/15/29		4,436,037

162

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	2,300,000		Energy Transfer Operating LP		2.900	%	05/15/25	$	2,311,965
	2,675,000		Energy Transfer Operating LP		4.750		01/15/26		2,850,361
	1,670,000		Energy Transfer Operating LP		5.500		06/01/27		1,821,332
	8,000,000		Energy Transfer Operating LP		5.250		04/15/29		8,602,429
	5,250,000		Energy Transfer Operating LP		3.750		05/15/30		5,081,334
	4,100,000		Energy Transfer Operating LP		6.250		04/15/49		4,219,070
	4,625,000		Energy Transfer Operating LP		5.000		05/15/50		4,245,617
	1,250,000		Enterprise Products Operating LLC		3.700		02/15/26		1,401,630
	2,700,000		Enterprise Products Operating LLC		3.125		07/31/29		2,940,702
	350,000		Enterprise Products Operating LLC		2.800		01/31/30		370,530
	3,000,000		Enterprise Products Operating LLC		4.900		05/15/46		3,376,333
	1,425,000		Enterprise Products Operating LLC		4.250		02/15/48		1,510,884
	2,200,000		Enterprise Products Operating LLC		4.800		02/01/49		2,531,881
	1,800,000		Enterprise Products Operating LLC		4.200		01/31/50		1,911,095
	2,625,000		Enterprise Products Operating LLC		3.950		01/31/60		2,577,478
	750,000	g	EQM Midstream Partners LP		6.000		07/01/25		773,438
	1,100,000		Genesis Energy LP		6.500		10/01/25		943,250
	3,000,000	g	Geopark Ltd		5.500		01/17/27		2,655,030
	1,200,000	g	KazMunayGas National Co JSC		5.375		04/24/30		1,400,083
	1,250,000		Kinder Morgan Energy Partners LP		5.400		09/01/44		1,448,275
	1,976,000		Kinder Morgan, Inc		5.300		12/01/34		2,327,661
	2,025,000	g	Leviathan Bond Ltd		6.125		06/30/25		2,090,587
	1,500,000	g	Leviathan Bond Ltd		6.500		06/30/27		1,555,292
	5,125,000		Magellan Midstream Partners LP		3.250		06/01/30		5,496,497
	5,000,000		Marathon Petroleum Corp		4.700		05/01/25		5,643,721
	11,590,000		Marathon Petroleum Corp		3.800		04/01/28		12,583,347
	1,000,000		Marathon Petroleum Corp		4.750		09/15/44		1,041,870
	2,750,000		Marathon Petroleum Corp		5.000		09/15/54		2,823,159
	550,000		MPLX LP		5.250		01/15/25		570,194
	270,000		MPLX LP		4.875		06/01/25		306,044
	4,475,000		MPLX LP		1.750		03/01/26		4,464,829
	5,400,000		MPLX LP		4.000		03/15/28		5,892,220
	3,175,000		MPLX LP		2.650		08/15/30		3,111,004
	5,925,000		MPLX LP		4.500		04/15/38		6,056,510
	2,175,000		MPLX LP		4.700		04/15/48		2,199,589
	642,000		Murphy Oil Corp		5.875		12/01/27		548,294
	200,000		Murphy Oil USA, Inc		5.625		05/01/27		212,500
	1,000,000		NAK Naftogaz Ukraine via Kondor Finance plc		7.375		07/19/22		1,004,231
	300,000		Noble Energy, Inc		3.900		11/15/24		328,192
	1,400,000		Noble Energy, Inc		3.850		01/15/28		1,589,010
	1,250,000		Noble Energy, Inc		5.050		11/15/44		1,618,983
	850,000		NuStar Logistics LP		5.750		10/01/25		877,880
	2,000,000		Occidental Petroleum Corp		3.500		06/15/25		1,660,000
	475,000		Occidental Petroleum Corp		5.550		03/15/26		430,307
	1,975,000		Occidental Petroleum Corp		4.300		08/15/39		1,368,991
	950,000	g	Oleoducto Central S.A.		4.000		07/14/27		986,575
	1,025,000		ONEOK, Inc		4.000		07/13/27		1,066,653
	6,030,000		ONEOK, Inc		4.550		07/15/28		6,387,708
	4,750,000		ONEOK, Inc		4.350		03/15/29		4,956,182
	5,277,000		ONEOK, Inc		3.400		09/01/29		5,176,256
	2,750,000		ONEOK, Inc		3.100		03/15/30		2,645,764
	1,000,000		ONEOK, Inc		5.200		07/15/48		962,299
	2,750,000		ONEOK, Inc		4.500		03/15/50		2,429,323

163

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	850,000	g	Pertamina Persero PT		3.650	%	07/30/29	$	912,281
	2,000,000	g	Pertamina Persero PT		5.625		05/20/43		2,317,020
	2,075,000	g	Peru LNG Srl		5.375		03/22/30		1,589,325
	1,167,000		Petrobras Global Finance BV		5.999		01/27/28		1,296,537
	326,000		Petrobras Global Finance BV		5.093		01/15/30		342,577
	500,000		Petrobras Global Finance BV		5.600		01/03/31		534,105
	2,000,000		Petrobras Global Finance BV		6.900		03/19/49		2,224,200
	2,550,000		Petroleos Mexicanos		6.500		03/13/27		2,377,875
	2,100,000		Petroleos Mexicanos		5.350		02/12/28		1,797,537
	2,700,000	g	Petroleos Mexicanos		5.950		01/28/31		2,245,374
	1,275,000	g	Petronas Capital Ltd		3.500		04/21/30		1,421,787
	5,000,000		Phillips 66		2.150		12/15/30		4,858,852
	5,000,000		Phillips 66 Partners LP		3.750		03/01/28		5,210,350
	1,925,000		Phillips 66 Partners LP		3.150		12/15/29		1,898,470
	775,000		Phillips 66 Partners LP		4.680		02/15/45		788,569
	450,000		Regency Energy Partners LP		4.500		11/01/23		478,182
	270,000		Sabine Pass Liquefaction LLC		5.875		06/30/26		319,204
	3,125,000		Sabine Pass Liquefaction LLC		4.200		03/15/28		3,390,268
	3,900,000	g	Sabine Pass Liquefaction LLC		4.500		05/15/30		4,389,368
	1,325,000		Shell International Finance BV		2.875		05/10/26		1,466,589
	1,750,000		Shell International Finance BV		3.125		11/07/49		1,801,936
	625,000		SM Energy Co		6.625		01/15/27		277,619
	800,000		Southwestern Energy Co		7.500		04/01/26		782,000
	790,000	g	Stena AB		7.000		02/01/24		771,830
	1,975,000		Sunoco Logistics Partners Operations LP		4.000		10/01/27		2,016,412
	450,000		Sunoco Logistics Partners Operations LP		5.400		10/01/47		424,159
	1,500,000		Sunoco LP		6.000		04/15/27		1,541,250
	125,000		Targa Resources Partners LP		5.125		02/01/25		124,687
	475,000		Targa Resources Partners LP		5.875		04/15/26		487,682
	300,000		Targa Resources Partners LP		6.500		07/15/27		312,750
	4,000,000	g	Thaioil Treasury Center Co Ltd		2.500		06/18/30		3,904,080
	5,550,000		Total Capital International S.A.		3.127		05/29/50		5,732,411
	10,800,000		TransCanada PipeLines Ltd		4.250		05/15/28		12,478,759
	141,960	g	Transocean Guardian Ltd		5.875		01/15/24		91,564
	1,260,000		USA Compression Partners LP		6.875		04/01/26		1,248,975
	500,000		USA Compression Partners LP		6.875		09/01/27		495,810
	480,000		Vale Overseas Ltd		6.875		11/21/36		623,400
	850,000		Williams Partners LP		3.750		06/15/27		932,309
	2,100,000	†,g	YPF S.A.		6.950		07/21/27		1,401,750
			TOTAL ENERGY						252,104,511
FOOD & STAPLES RETAILING - 0.7%
	2,625,000		Costco Wholesale Corp		1.375		06/20/27		2,687,275
	3,975,000		Costco Wholesale Corp		1.600		04/20/30		4,049,181
	1,250,000		Costco Wholesale Corp		1.750		04/20/32		1,281,384
	674,000		Ingles Markets, Inc		5.750		06/15/23		683,571
	1,750,000		Kroger Co		3.700		08/01/27		2,005,292
	3,000,000		Kroger Co		3.875		10/15/46		3,393,339
	575,000		Kroger Co		4.450		02/01/47		706,681
	730,000		SYSCO Corp		3.750		10/01/25		802,882
	515,000		Walgreen Co		3.100		09/15/22		539,124
	15,000,000		Walmart, Inc		3.400		06/26/23		16,185,017
	11,550,000		Walmart, Inc		3.700		06/26/28		13,650,005
	6,900,000		Walmart, Inc		2.375		09/24/29		7,616,093

164

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	2,175,000		Walmart, Inc		3.950	%	06/28/38	$	2,721,696
			TOTAL FOOD & STAPLES RETAILING						56,321,540
FOOD, BEVERAGE & TOBACCO - 1.7%
	2,775,000		Altria Group, Inc		4.800		02/14/29		3,290,943
	1,725,000		Altria Group, Inc		3.400		05/06/30		1,877,341
	2,700,000		Altria Group, Inc		5.950		02/14/49		3,619,683
	13,260,000		Anheuser-Busch InBev Worldwide, Inc		4.750		01/23/29		16,118,737
	1,260,000		Anheuser-Busch InBev Worldwide, Inc		4.439		10/06/48		1,468,023
	3,150,000		BAT Capital Corp		2.259		03/25/28		3,157,680
	8,200,000		BAT Capital Corp		4.906		04/02/30		9,665,348
	5,450,000		BAT Capital Corp		2.726		03/25/31		5,397,818
	2,625,000		BAT Capital Corp		3.734		09/25/40		2,604,659
	2,750,000		BAT Capital Corp		4.540		08/15/47		2,939,015
	1,275,000	g	BRF S.A.		4.875		01/24/30		1,308,456
	1,500,000	g	BRF S.A.		5.750		09/21/50		1,488,390
	1,350,000		Coca-Cola Co		1.450		06/01/27		1,391,697
	7,150,000		Coca-Cola Co		1.650		06/01/30		7,397,274
	750,000		Constellation Brands, Inc		4.400		11/15/25		871,748
	2,775,000		Constellation Brands, Inc		3.700		12/06/26		3,172,985
	1,850,000		Constellation Brands, Inc		3.600		02/15/28		2,090,735
	1,150,000		Constellation Brands, Inc		3.150		08/01/29		1,255,205
	575,000		Constellation Brands, Inc		2.875		05/01/30		620,426
	2,500,000	g	Cosan Ltd		5.500		09/20/29		2,575,025
	2,750,000		Diageo Capital plc		2.125		10/24/24		2,912,671
	2,320,000		Diageo Capital plc		1.375		09/29/25		2,377,108
	4,075,000		Diageo Capital plc		2.375		10/24/29		4,342,120
	1,950,000		Diageo Capital plc		2.000		04/29/30		2,007,378
	1,875,000	g	Embotelladora Andina S.A.		3.950		01/21/50		1,982,812
	5,000,000		General Mills, Inc		3.700		10/17/23		5,450,900
	625,000		General Mills, Inc		2.875		04/15/30		685,317
	2,000,000	g	Grupo Bimbo SAB de C.V.		4.700		11/10/47		2,328,860
	800,000		JM Smucker Co		2.375		03/15/30		834,266
	2,225,000		JM Smucker Co		3.550		03/15/50		2,374,534
	5,000,000		Kellogg Co		3.400		11/15/27		5,634,823
	2,000,000	g	Kernel Holding S.A.		6.500		10/17/24		1,995,038
	11,350,000		PepsiCo, Inc		1.625		05/01/30		11,650,503
	1,100,000		PepsiCo, Inc		3.450		10/06/46		1,272,542
	3,200,000		Philip Morris International, Inc		2.100		05/01/30		3,289,281
	200,000		Philip Morris International, Inc		6.375		05/16/38		296,435
	2,025,000	g	Post Holdings, Inc		4.625		04/15/30		2,083,219
	1,150,000		Tyson Foods, Inc		3.900		09/28/23		1,257,103
	395,000		Tyson Foods, Inc		4.000		03/01/26		452,374
			TOTAL FOOD, BEVERAGE & TOBACCO						125,538,472
HEALTH CARE EQUIPMENT & SERVICES - 1.8%
	925,000		Abbott Laboratories		3.875		09/15/25		1,055,954
	6,092,000		Abbott Laboratories		3.750		11/30/26		7,067,248
	1,200,000		Abbott Laboratories		5.300		05/27/40		1,752,515
	630,000		Anthem, Inc		3.125		05/15/22		656,991
	4,250,000		Anthem, Inc		3.650		12/01/27		4,839,098
	1,500,000	g	Avantor Funding, Inc		4.625		07/15/28		1,556,250
	3,488,000		Becton Dickinson & Co		3.700		06/06/27		3,952,957

165

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	2,100,000		Boston Scientific Corp		4.000	%	03/01/29	$	2,441,595
	400,000	g	Centene Corp		5.375		08/15/26		423,670
	1,750,000		Centene Corp		4.250		12/15/27		1,831,252
	1,800,000		Children’s Hospital Medic		4.268		05/15/44		2,255,976
	2,700,000		Cigna Corp		2.400		03/15/30		2,791,777
	2,550,000		Cigna Corp		3.200		03/15/40		2,698,287
	750,000		Covidien International Finance S.A.		3.200		06/15/22		780,071
	2,156,000		CVS Health Corp		3.700		03/09/23		2,309,411
	8,850,000		CVS Health Corp		2.625		08/15/24		9,431,607
	495,000		CVS Health Corp		3.875		07/20/25		558,070
	5,425,000		CVS Health Corp		2.875		06/01/26		5,872,761
	11,250,000		CVS Health Corp		3.750		04/01/30		12,854,851
	12,525,000		CVS Health Corp		1.750		08/21/30		12,261,593
	2,250,000		CVS Health Corp		4.780		03/25/38		2,722,934
	2,400,000		CVS Health Corp		2.700		08/21/40		2,295,592
	4,750,000		CVS Health Corp		5.050		03/25/48		6,040,613
	1,900,000		CVS Health Corp		4.250		04/01/50		2,228,223
	1,700,000		Danaher Corp		2.600		10/01/50		1,656,148
	1,370,000		Dartmouth-Hitchcock Health		4.178		08/01/48		1,635,600
	1,800,000	g	DaVita, Inc		4.625		06/01/30		1,847,520
	4,300,000	g	DaVita, Inc		3.750		02/15/31		4,143,265
	875,000		Encompass Health Corp		4.625		04/01/31		875,000
	2,000,000		HCA, Inc		5.375		02/01/25		2,190,000
	2,815,000		HCA, Inc		5.625		09/01/28		3,220,219
	1,900,000		HCA, Inc		5.500		06/15/47		2,369,035
	3,500,000	g	Hologic, Inc		3.250		02/15/29		3,521,875
	1,875,000		Humana, Inc		3.950		03/15/27		2,145,263
	725,000	g	Molina Healthcare, Inc		4.375		06/15/28		739,862
	6,900,000	g	SBA Tower Trust		2.836		01/15/25		7,383,192
	5,448,000	g	SBA Tower Trust		1.884		01/15/26		5,568,049
	200,000	g	Teleflex, Inc		4.250		06/01/28		207,000
	450,000		Tenet Healthcare Corp		8.125		04/01/22		500,355
	825,000		Tenet Healthcare Corp		4.625		07/15/24		827,063
	225,000	g	Tenet Healthcare Corp		4.625		06/15/28		226,896
	3,400,000	g	Tenet Healthcare Corp		6.125		10/01/28		3,310,750
	620,000		UnitedHealth Group, Inc		2.875		03/15/22		638,768
	1,525,000		UnitedHealth Group, Inc		2.950		10/15/27		1,698,680
	1,375,000		UnitedHealth Group, Inc		3.750		10/15/47		1,628,519
	750,000		Zimmer Biomet Holdings, Inc		3.700		03/19/23		800,681
	1,470,000		Zimmer Biomet Holdings, Inc		3.550		04/01/25		1,624,763
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						139,437,799
HOUSEHOLD & PERSONAL PRODUCTS - 0.0%
	1,525,000		Kimberly-Clark Corp		1.050		09/15/27		1,535,553
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS						1,535,553
INSURANCE - 1.4%
	285,000		Aetna, Inc		6.625		06/15/36		404,718
	131,000		Aflac, Inc		6.450		08/15/40		190,501
	1,025,000	g	AIA Group Ltd		3.200		03/11/25		1,106,835
	1,000,000	g	AIA Group Ltd		3.375		04/07/30		1,121,093
	825,000	g	AIA Group Ltd		3.200		09/16/40		851,920
	1,700,000		Allstate Corp		3.850		08/10/49		2,016,243
	975,000		American Financial Group, Inc		3.500		08/15/26		1,055,288

166

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	620,000		American International Group, Inc		3.750	%	07/10/25	$	694,562
	5,450,000		American International Group, Inc		3.400		06/30/30		6,011,898
	5,400,000		Aon Corp		2.800		05/15/30		5,830,010
	3,740,000		Aon plc		3.500		06/14/24		4,074,292
	2,500,000		AXIS Specialty Finance LLC		4.900		01/15/40		2,496,062
	1,150,000		Berkshire Hathaway Finance Corp		1.850		03/12/30		1,201,284
	1,500,000		Berkshire Hathaway Finance Corp		4.250		01/15/49		1,951,994
	3,900,000		Chubb INA Holdings, Inc		2.875		11/03/22		4,079,194
	1,100,000		CNA Financial Corp		3.950		05/15/24		1,218,673
	1,750,000		CNA Financial Corp		2.050		08/15/30		1,734,253
	925,000	g	Equitable Financial Life Global Funding		1.400		07/07/25		944,155
	2,300,000	g	Five Corners Funding Trust		4.419		11/15/23		2,555,508
	3,700,000	g	Five Corners Funding Trust II		2.850		05/15/30		3,990,858
	2,750,000		Hartford Financial Services Group, Inc		2.800		08/19/29		2,980,012
	350,000		Hartford Financial Services Group, Inc		4.300		04/15/43		410,293
	1,675,000		Hartford Financial Services Group, Inc		3.600		08/19/49		1,855,818
	232,000	g	Liberty Mutual Group, Inc		4.250		06/15/23		253,600
	1,450,000	g	Liberty Mutual Group, Inc		3.951		10/15/50		1,614,996
	1,400,000		Marsh & McLennan Cos, Inc		3.500		06/03/24		1,529,108
	600,000		MetLife, Inc		3.000		03/01/25		663,972
	1,775,000		MetLife, Inc		3.600		11/13/25		2,014,628
	13,635,000		MetLife, Inc		3.850		N/A‡		13,583,869
	1,550,000	g	Metropolitan Life Global Funding I		2.950		04/09/30		1,738,542
	10,175,000		PartnerRe Finance B LLC		4.500		10/01/50		10,206,195
	3,500,000		Principal Financial Group, Inc		2.125		06/15/30		3,602,840
	940,000		Prudential Financial, Inc		3.500		05/15/24		1,040,555
	2,000,000		Prudential Financial, Inc		3.905		12/07/47		2,220,135
	5,220,000		Prudential Financial, Inc		3.700		10/01/50		5,325,966
	1,190,000	g	Prudential Funding LLC		6.750		09/15/23		1,374,023
	2,220,000		Reinsurance Group of America, Inc		3.900		05/15/29		2,532,814
	525,000	g	Swiss Re Treasury US Corp		4.250		12/06/42		648,360
	650,000		Travelers Cos, Inc		2.550		04/27/50		636,211
	6,250,000	g,i	Vitality Re IX Ltd		1.692		01/10/22		6,218,750
	2,200,000	g,i	Vitality Re X Ltd		1.842		01/10/23		2,187,900
	365,000		Willis North America, Inc		3.600		05/15/24		398,488
			TOTAL INSURANCE						106,566,416
MATERIALS - 1.5%
	925,000		Air Products & Chemicals, Inc		1.500		10/15/25		959,343
	1,000,000		Air Products & Chemicals, Inc		2.050		05/15/30		1,053,621
	100,000	g	Alcoa Nederland Holding BV		6.750		09/30/24		103,125
	100,000	g	Alcoa Nederland Holding BV		7.000		09/30/26		104,750
	2,300,000	g	Anglo American Capital plc		2.625		09/10/30		2,281,370
	3,125,000		AngloGold Ashanti Holdings plc		3.750		10/01/30		3,187,074
	275,000	g	Arconic Corp		6.000		05/15/25		293,679
	170,000	g	Arconic Rolled Products Corp		6.125		02/15/28		174,569
	1,850,000		Ball Corp		2.875		08/15/30		1,829,187
	370,000		Bemis Co, Inc		3.100		09/15/26		403,186
	925,000		Bemis Co, Inc		2.630		06/19/30		987,190
	2,500,000	g	Celulosa Arauco y Constitucion S.A.		4.250		04/30/29		2,646,900
	1,025,000	g	Celulosa Arauco y Constitucion S.A.		4.200		01/29/30		1,085,219
	1,375,000	g	Cemex SAB de C.V.		7.375		06/05/27		1,485,701
	2,325,000	g	Cemex SAB de C.V.		5.450		11/19/29		2,351,156

167

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	1,325,000	g	Cleveland-Cliffs, Inc		9.875	%	10/17/25	$	1,479,031
	1,750,000	g	Corp Nacional del Cobre de Chile-CODELCO		3.625		08/01/27		1,916,285
	2,000,000	g	Corp Nacional del Cobre de Chile-CODELCO		3.150		01/14/30		2,125,440
	1,250,000	g	Corp Nacional del Cobre de Chile-CODELCO		4.375		02/05/49		1,472,613
	1,000,000	g	Corp Nacional del Cobre de Chile-CODELCO		3.700		01/30/50		1,057,910
	265,000		DowDuPont, Inc		4.493		11/15/25		304,725
	1,140,000		DowDuPont, Inc		4.725		11/15/28		1,367,713
	500,000	g	Element Solutions, Inc		3.875		09/01/28		490,625
	950,000	g	Enviva Partners LP		6.500		01/15/26		1,001,063
	3,500,000	g,h	First Quantum Minerals Ltd		6.875		10/15/27		3,371,550
	3,000,000		Freeport-McMoRan, Inc		5.450		03/15/43		3,330,780
	1,800,000	g	Fresnillo plc		4.250		10/02/50		1,778,004
	475,000	g	Hudbay Minerals, Inc		6.125		04/01/29		470,250
	1,275,000	g	Industrias Penoles SAB de C.V.		4.150		09/12/29		1,384,013
	1,275,000		International Paper Co		5.000		09/15/35		1,658,606
	3,500,000		International Paper Co		5.150		05/15/46		4,578,822
	350,000		International Paper Co		4.350		08/15/48		427,478
	3,000,000	g	Inversiones CMPC S.A.		4.375		04/04/27		3,341,280
	775,000	g	Inversiones CMPC S.A.		3.850		01/13/30		847,656
	500,000	g	James Hardie International Finance DAC		4.750		01/15/25		510,625
	675,000	g	James Hardie International Finance DAC		5.000		01/15/28		703,688
	2,750,000		LyondellBasell Industries NV		6.000		11/15/21		2,877,743
	1,000,000	g,h	Metinvest BV		7.650		10/01/27		970,290
	2,700,000	g	Midwest Connector Capital Co LLC		3.900		04/01/24		2,723,500
	2,700,000	g	Midwest Connector Capital Co LLC		4.625		04/01/29		2,727,305
	1,600,000		Mosaic Co		4.875		11/15/41		1,675,493
	2,000,000		Newmont Corp		2.250		10/01/30		2,062,566
	5,305,000		Newmont Goldcorp Corp		3.625		06/09/21		5,389,582
	2,000,000	g	Nova Chemicals Corp		4.875		06/01/24		1,985,650
	1,725,000		Nutrien Ltd		3.375		03/15/25		1,904,389
	4,900,000		Nutrien Ltd		2.950		05/13/30		5,357,528
	1,440,000	g	OCI NV		6.625		04/15/23		1,488,960
	2,375,000	g	OCI NV		4.625		10/15/25		2,369,063
	2,000,000	g	OCP S.A.		4.500		10/22/25		2,108,516
	720,000	g	Owens-Brockway Glass Container, Inc		5.875		08/15/23		756,000
	480,000		Packaging Corp of America		3.650		09/15/24		525,959
	375,000	g	PolyOne Corp		5.750		05/15/25		397,500
	4,050,000		Praxair, Inc		1.100		08/10/30		3,921,277
	1,150,000		Praxair, Inc		2.000		08/10/50		1,034,406
	1,550,000	g	SABIC Capital II BV		4.000		10/10/23		1,665,866
	4,200,000		Sherwin-Williams Co		2.300		05/15/30		4,382,967
	1,500,000	g	Sociedad Quimica y Minera de Chile S.A.		4.250		05/07/29		1,702,320
	1,325,000	g	Suzano Austria GmbH		7.000		03/16/47		1,568,085
	250,000	g	Tronox Finance plc		5.750		10/01/25		246,250
	250,000	g	Tronox, Inc		6.500		04/15/26		250,000
	175,000	g	Univar Solutions USA, Inc		5.125		12/01/27		179,594
	1,525,000		Vulcan Materials Co		3.500		06/01/30		1,706,743
	900,000		WRKCo, Inc		4.900		03/15/29		1,109,872
			TOTAL MATERIALS						105,651,651
MEDIA & ENTERTAINMENT - 2.8%
	2,675,000		Activision Blizzard, Inc		3.400		09/15/26		3,046,121
	1,850,000		Activision Blizzard, Inc		1.350		09/15/30		1,802,508
	4,700,000		Alphabet, Inc		1.100		08/15/30		4,653,483

168

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	3,125,000		Alphabet, Inc		2.050	%	08/15/50	$	2,904,054
	1,650,000	g	Banco Nacional de Panama		2.500		08/11/30		1,632,675
	1,575,000	g	Cable Onda S.A.		4.500		01/30/30		1,639,260
	500,000	g	CBS Radio, Inc		7.250		11/01/24		417,500
	5,000,000	g	CCO Holdings LLC		4.250		02/01/31		5,179,507
	5,150,000		Charter Communications Operating LLC		3.750		02/15/28		5,690,919
	5,660,000		Charter Communications Operating LLC		4.200		03/15/28		6,426,972
	2,500,000		Charter Communications Operating LLC		2.800		04/01/31		2,593,079
	2,400,000		Charter Communications Operating LLC		5.125		07/01/49		2,777,073
	10,750,000		Charter Communications Operating LLC		4.800		03/01/50		12,286,653
	10,100,000		Comcast Corp		3.950		10/15/25		11,582,365
	10,300,000		Comcast Corp		2.350		01/15/27		11,065,281
	3,130,000		Comcast Corp		3.300		02/01/27		3,528,794
	3,700,000		Comcast Corp		4.150		10/15/28		4,464,513
	8,625,000		Comcast Corp		1.950		01/15/31		8,855,913
	3,875,000		Comcast Corp		1.500		02/15/31		3,813,218
	4,525,000		Comcast Corp		3.200		07/15/36		5,021,985
	1,000,000		Comcast Corp		3.900		03/01/38		1,183,984
	7,500,000		Comcast Corp		4.700		10/15/48		9,925,159
	11,475,000		Comcast Corp		3.450		02/01/50		13,030,183
	5,875,000		Comcast Corp		2.800		01/15/51		5,887,126
	3,850,000		Comcast Corp		2.450		08/15/52		3,599,194
	1,500,000	g	CSC Holdings LLC		7.500		04/01/28		1,657,095
	5,000,000	g	CSC Holdings LLC		3.375		02/15/31		4,841,250
	656,000		Discovery Communications LLC		2.950		03/20/23		691,037
	3,730,000		Discovery Communications LLC		4.125		05/15/29		4,285,302
	3,500,000		Discovery Communications LLC		5.200		09/20/47		4,196,005
	1,000,000		DISH DBS Corp		7.750		07/01/26		1,099,360
	2,000,000	h	DISH DBS Corp		7.375		07/01/28		2,060,000
	2,000,000	g	Empresa de los Ferrocarriles del Estado		3.068		08/18/50		1,960,000
	125,000	g	EW Scripps Co		5.125		05/15/25		122,188
	1,125,000	g	Gray Escrow, Inc		7.000		05/15/27		1,219,655
	550,000	g	Gray Television, Inc		5.875		07/15/26		570,625
	2,785,000		Grupo Televisa SAB		6.625		01/15/40		3,669,839
	650,000	g	Lamar Media Corp		3.750		02/15/28		646,750
	1,000,000	g	Lamar Media Corp		4.000		02/15/30		1,000,000
	2,400,000	g	LUKOIL Securities BV		3.875		05/06/30		2,535,120
	3,000,000	g	Medco Bell Pte Ltd		6.375		01/30/27		2,580,000
	1,750,000	g	MEGlobal Canada ULC		5.000		05/18/25		1,887,952
	885,000		NBC Universal Media LLC		6.400		04/30/40		1,361,821
	125,000	g	Nielsen Finance LLC		5.000		04/15/22		125,313
	1,575,000	g	Sirius XM Radio, Inc		4.125		07/01/30		1,614,044
	750,000	g	TEGNA, Inc		4.750		03/15/26		766,369
	500,000	g	TEGNA, Inc		4.625		03/15/28		488,900
	1,075,000	g	Telefonica Celular del Paraguay S.A.		5.875		04/15/27		1,124,343
	250,000		Time Warner Cable LLC		5.875		11/15/40		311,023
	5,125,000	g	Upjohn, Inc		2.700		06/22/30		5,302,586
	1,250,000	g	Upjohn, Inc		3.850		06/22/40		1,345,772
	1,100,000		ViacomCBS, Inc		2.900		01/15/27		1,185,139
	800,000		ViacomCBS, Inc		3.375		02/15/28		881,615
	1,770,000		ViacomCBS, Inc		4.375		03/15/43		1,875,982
	200,000		ViacomCBS, Inc		5.850		09/01/43		250,584
	4,500,000		Walt Disney Co		3.000		09/15/22		4,723,099

169

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	110,000		Walt Disney Co		7.625	%	11/30/28	$	157,269
	7,800,000		Walt Disney Co		2.000		09/01/29		8,059,738
	9,750,000		Walt Disney Co		2.650		01/13/31		10,496,176
	85,000		Walt Disney Co		6.550		03/15/33		124,341
	1,825,000		Weibo Corp		3.375		07/08/30		1,853,525
			TOTAL MEDIA & ENTERTAINMENT						210,077,336
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 1.9%
	1,550,000		AbbVie, Inc		2.850		05/14/23		1,630,410
	2,900,000	g	AbbVie, Inc		3.800		03/15/25		3,217,944
	11,400,000	g	AbbVie, Inc		2.950		11/21/26		12,418,358
	7,050,000	g	AbbVie, Inc		3.200		11/21/29		7,751,729
	6,500,000	g	AbbVie, Inc		4.050		11/21/39		7,423,633
	2,072,000		AbbVie, Inc		4.400		11/06/42		2,461,885
	1,360,000		AbbVie, Inc		4.450		05/14/46		1,616,313
	8,775,000	g	AbbVie, Inc		4.250		11/21/49		10,364,602
	1,775,000		AstraZeneca plc		3.125		06/12/27		1,968,312
	325,000	g	Bausch Health Cos, Inc		5.000		01/30/28		315,656
	595,000		Bristol-Myers Squibb Co		3.625		05/15/24		655,591
	1,600,000		Bristol-Myers Squibb Co		2.900		07/26/24		1,733,730
	900,000		Bristol-Myers Squibb Co		3.875		08/15/25		1,027,377
	4,500,000		Bristol-Myers Squibb Co		3.450		11/15/27		5,169,017
	19,950,000		Bristol-Myers Squibb Co		3.400		07/26/29		23,179,372
	5,120,000		Bristol-Myers Squibb Co		4.250		10/26/49		6,724,123
	225,000	g	Emergent BioSolutions, Inc		3.875		08/15/28		225,884
	1,850,000		Gilead Sciences, Inc		1.200		10/01/27		1,852,992
	4,500,000		Gilead Sciences, Inc		1.650		10/01/30		4,491,118
	635,000		Gilead Sciences, Inc		4.000		09/01/36		768,010
	950,000		Gilead Sciences, Inc		2.800		10/01/50		937,091
	100,000	g	Jaguar Holding Co II		4.625		06/15/25		103,000
	125,000	g	Jaguar Holding Co II		5.000		06/15/28		130,469
	1,875,000		Johnson & Johnson		2.450		03/01/26		2,047,312
	1,325,000		Johnson & Johnson		2.900		01/15/28		1,489,201
	1,250,000		Johnson & Johnson		3.400		01/15/38		1,460,790
	9,325,000		Merck & Co, Inc		1.450		06/24/30		9,454,515
	6,150,000		Merck & Co, Inc		2.450		06/24/50		6,117,249
	4,075,000		Mylan, Inc		4.550		04/15/28		4,744,535
	3,050,000		Novartis Capital Corp		3.000		11/20/25		3,392,528
	2,650,000	g	Royalty Pharma plc		2.200		09/02/30		2,634,511
	8,375,000		Takeda Pharmaceutical Co Ltd		2.050		03/31/30		8,481,982
	1,000,000		Takeda Pharmaceutical Co Ltd		3.025		07/09/40		1,032,908
	3,000,000		Teva Pharmaceutical Finance Netherlands III BV		3.150		10/01/26		2,647,500
	4,875,000		Thermo Fisher Scientific, Inc		4.133		03/25/25		5,554,204
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						145,223,851
REAL ESTATE - 2.2%
	5,450,000		Alexandria Real Estate Equities, Inc		3.450		04/30/25		6,078,640
	450,000		Alexandria Real Estate Equities, Inc		3.950		01/15/27		511,913
	675,000		Alexandria Real Estate Equities, Inc		3.950		01/15/28		776,522
	2,775,000		Alexandria Real Estate Equities, Inc		4.900		12/15/30		3,490,744
	1,900,000		Alexandria Real Estate Equities, Inc		1.875		02/01/33		1,854,044
	1,450,000		American Tower Corp		3.000		06/15/23		1,535,531
	2,700,000		American Tower Corp		2.950		01/15/25		2,916,290

170

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	600,000		American Tower Corp		3.375	%	10/15/26	$	664,268
	10,000,000		American Tower Corp		2.750		01/15/27		10,781,793
	1,200,000		American Tower Corp		3.600		01/15/28		1,345,372
	5,800,000		American Tower Corp		3.800		08/15/29		6,639,080
	6,950,000		American Tower Corp		2.900		01/15/30		7,501,574
	5,025,000		American Tower Corp		1.875		10/15/30		4,948,986
	1,975,000		Brandywine Operating Partnership LP		3.950		02/15/23		2,042,596
	1,125,000		Brandywine Operating Partnership LP		4.100		10/01/24		1,183,896
	2,225,000		Brixmor Operating Partnership LP		3.850		02/01/25		2,382,071
	2,000,000		Camden Property Trust		4.250		01/15/24		2,200,700
	750,000		Camden Property Trust		3.150		07/01/29		831,586
	1,125,000		Camden Property Trust		2.800		05/15/30		1,222,700
	400,000		Crown Castle International Corp		3.650		09/01/27		447,371
	1,275,000		Crown Castle International Corp		3.800		02/15/28		1,443,654
	9,875,000		Crown Castle International Corp		2.250		01/15/31		9,947,760
	2,375,000		Crown Castle International Corp		3.250		01/15/51		2,356,241
	3,300,000		Digital Realty Trust LP		2.750		02/01/23		3,451,512
	1,950,000		Digital Realty Trust LP		3.700		08/15/27		2,193,684
	425,000		Duke Realty LP		3.250		06/30/26		471,143
	1,075,000		Duke Realty LP		4.000		09/15/28		1,253,181
	1,600,000		Duke Realty LP		1.750		07/01/30		1,591,493
	1,925,000		Equinix, Inc		2.150		07/15/30		1,948,737
	850,000		Essex Portfolio LP		3.375		01/15/23		890,418
	4,575,000		Essex Portfolio LP		3.000		01/15/30		4,913,631
	325,000		Healthcare Realty Trust, Inc		3.750		04/15/23		348,822
	1,675,000		Healthcare Realty Trust, Inc		3.875		05/01/25		1,830,204
	3,000,000		Healthcare Realty Trust, Inc		3.625		01/15/28		3,286,343
	900,000		Healthcare Realty Trust, Inc		2.400		03/15/30		911,633
	925,000	h	Healthcare Realty Trust, Inc		2.050		03/15/31		912,597
	4,125,000		Healthcare Trust of America Holdings LP		3.500		08/01/26		4,590,640
	5,525,000		Healthcare Trust of America Holdings LP		3.100		02/15/30		5,939,900
	5,500,000		Highwoods Realty LP		3.875		03/01/27		5,963,597
	1,025,000		Highwoods Realty LP		4.125		03/15/28		1,130,266
	1,350,000		Highwoods Realty LP		4.200		04/15/29		1,514,850
	6,510,000		Highwoods Realty LP		3.050		02/15/30		6,726,630
	835,000		Hudson Pacific Properties LP		3.950		11/01/27		897,793
	1,500,000		Hudson Pacific Properties LP		3.250		01/15/30		1,552,598
	775,000		iStar, Inc		4.750		10/01/24		749,812
	425,000		Life Storage LP		2.200		10/15/30		424,231
	350,000	g	MGM Growth Properties Operating Partnership LP		4.625		06/15/25		357,000
	1,200,000		Mid-America Apartments LP		4.300		10/15/23		1,310,982
	1,200,000		Mid-America Apartments LP		3.750		06/15/24		1,304,584
	1,050,000		Mid-America Apartments LP		4.000		11/15/25		1,185,131
	2,150,000		Mid-America Apartments LP		3.600		06/01/27		2,395,028
	7,350,000		Mid-America Apartments LP		2.750		03/15/30		7,918,751
	2,700,000		Mid-America Apartments LP		1.700		02/15/31		2,656,398
	1,075,000		National Retail Properties, Inc		3.300		04/15/23		1,131,363
	625,000		National Retail Properties, Inc		4.000		11/15/25		692,457
	1,850,000		National Retail Properties, Inc		3.600		12/15/26		1,999,479
	1,100,000		Regency Centers LP		3.900		11/01/25		1,199,169
	1,950,000		Regency Centers LP		3.600		02/01/27		2,109,174
	4,650,000		Regency Centers LP		2.950		09/15/29		4,814,284

171

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	2,925,000		Retail Properties of America, Inc		4.750	%	09/15/30	$	2,928,553
	646,000		SITE Centers Corp		3.625		02/01/25		659,982
	1,000,000		SITE Centers Corp		4.700		06/01/27		1,054,545
	775,000	g	VICI Properties LP		3.500		02/15/25		767,254
	400,000		Weingarten Realty Investors		3.375		10/15/22		409,743
	1,876,000		Weingarten Realty Investors		3.500		04/15/23		1,936,190
	475,000		Weingarten Realty Investors		4.450		01/15/24		506,490
	1,025,000		Weingarten Realty Investors		3.850		06/01/25		1,075,110
	700,000		Weingarten Realty Investors		3.250		08/15/26		724,801
			TOTAL REAL ESTATE						165,733,515
RETAILING - 0.6%
	1,100,000		AutoNation, Inc		3.800		11/15/27		1,202,225
	3,275,000		AutoZone, Inc		1.650		01/15/31		3,218,159
	925,000	g	Booz Allen Hamilton, Inc		3.875		09/01/28		949,559
	90,000	g	Camelot Finance S.A.		4.500		11/01/26		92,025
	600,000		CDW LLC		3.250		02/15/29		597,750
	550,000	g	Group 1 Automotive, Inc		4.000		08/15/28		540,375
	2,175,000		Home Depot, Inc		2.000		04/01/21		2,190,998
	520,000		Home Depot, Inc		2.625		06/01/22		539,853
	300,000	g	L Brands, Inc		6.875		07/01/25		324,000
	125,000	g	L Brands, Inc		9.375		07/01/25		143,437
	925,000	g	L Brands, Inc		6.625		10/01/30		941,187
	850,000	g	Lithia Motors, Inc		4.625		12/15/27		877,625
	1,950,000	g,h	Lithia Motors, Inc		4.375		01/15/31		1,950,000
	227,000	g	Macy’s, Inc		8.375		06/15/25		234,702
	4,215,000		O’Reilly Automotive, Inc		3.550		03/15/26		4,761,130
	2,175,000		O’Reilly Automotive, Inc		3.600		09/01/27		2,472,923
	2,100,000		O’Reilly Automotive, Inc		4.200		04/01/30		2,522,468
	1,375,000		O’Reilly Automotive, Inc		1.750		03/15/31		1,357,991
	715,000		Penske Automotive Group, Inc		5.500		05/15/26		737,580
	500,000	g	PetSmart, Inc		7.125		03/15/23		504,375
	500,000	g	PetSmart, Inc		5.875		06/01/25		511,800
	1,250,000	g	PetSmart, Inc		8.875		06/01/25		1,296,813
	2,200,000	g	Prosus NV		3.680		01/21/30		2,371,958
	3,000,000	g	Staples, Inc		7.500		04/15/26		2,764,380
	1,900,000		Target Corp		3.375		04/15/29		2,207,797
	6,325,000		Target Corp		2.350		02/15/30		6,862,650
	675,000		Target Corp		2.650		09/15/30		754,989
			TOTAL RETAILING						42,928,749
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.5%
	4,250,000		Broadcom, Inc		4.150		11/15/30		4,771,415
	5,600,000		Intel Corp		2.875		05/11/24		6,052,548
	1,500,000		Intel Corp		2.600		05/19/26		1,650,045
	3,700,000		Intel Corp		3.750		03/25/27		4,333,045
	260,000		Intel Corp		3.150		05/11/27		291,905
	1,150,000		Intel Corp		3.734		12/08/47		1,370,255
	1,350,000		Lam Research Corp		3.750		03/15/26		1,548,407
	1,525,000		Lam Research Corp		4.000		03/15/29		1,826,197
	5,575,000		Lam Research Corp		1.900		06/15/30		5,772,197
	550,000		Lam Research Corp		2.875		06/15/50		568,082
	2,250,000	g	NXP BV		4.875		03/01/24		2,529,792
	2,650,000	g	NXP BV		3.875		06/18/26		2,968,852

172

TIAA-CREF FUNDS – Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	1,200,000	g	NXP BV			3.400	%	05/01/30	$	1,312,705
	1,100,000		Texas Instruments, Inc			2.625		05/15/24		1,181,032
	1,100,000		Texas Instruments, Inc			4.150		05/15/48		1,435,245
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT							37,611,722
SOFTWARE & SERVICES - 1.1%
	9,955,000		Adobe, Inc			2.300		02/01/30		10,735,435
	1,275,000		Baidu, Inc			4.375		05/14/24		1,396,645
	250,000	g	Black Knight InfoServ LLC			3.625		09/01/28		252,656
	2,000,000		Fidelity National Information Services, Inc			3.000		08/15/26		2,219,775
	2,365,000		Fidelity National Information Services, Inc			3.750		05/21/29		2,781,531
	6,300,000		Fiserv, Inc			2.750		07/01/24		6,734,838
	9,550,000		Fiserv, Inc			3.500		07/01/29		10,869,170
	900,000	g	Gartner, Inc			3.750		10/01/30		910,395
	2,425,000		Global Payments, Inc			2.650		02/15/25		2,573,074
	5,225,000		Global Payments, Inc			3.200		08/15/29		5,699,494
	350,000	h,i	Hyland Software, Inc	LIBOR 1 M + 3.500%		4.000		07/01/24		348,176
	10,500,000		International Business Machines Corp			1.950		05/15/30		10,808,481
	19,000,000		Microsoft Corp			2.400		08/08/26		20,696,672
	754,000		Microsoft Corp			4.100		02/06/37		978,256
	1,860,000		Microsoft Corp			3.700		08/08/46		2,333,926
	446,000		Microsoft Corp			2.525		06/01/50		465,257
	550,000	g	Open Text Holdings, Inc			4.125		02/15/30		565,642
	175,000	g	Presidio Holdings, Inc			4.875		02/01/27		177,354
	875,000		salesforce.com, Inc			3.700		04/11/28		1,031,395
	580,000		Visa, Inc			3.150		12/14/25		648,788
	4,725,000		Visa, Inc			2.050		04/15/30		5,049,787
	900,000		Visa, Inc			2.700		04/15/40		971,651
			TOTAL SOFTWARE & SERVICES							88,248,398
TECHNOLOGY HARDWARE & EQUIPMENT - 1.0%
	3,450,000		Amphenol Corp			2.800		02/15/30		3,774,155
	8,575,000		Apple, Inc			2.450		08/04/26		9,342,112
	19,975,000		Apple, Inc			2.050		09/11/26		21,351,635
	1,100,000		Apple, Inc			4.650		02/23/46		1,531,723
	12,850,000		Broadcom Corp			3.875		01/15/27		14,248,893
	10,000,000		Cisco Systems, Inc			1.850		09/20/21		10,138,001
	467,000	g	CommScope Technologies LLC			6.000		06/15/25		473,328
	675,000		Corning, Inc			4.375		11/15/57		822,073
	843,000	g	Dell International LLC			4.420		06/15/21		862,914
	4,450,000	g	Dell International LLC			5.300		10/01/29		5,097,498
	2,390,000	g	Empresas Publicas de Medellin ESP			4.250		07/18/29		2,386,654
	2,425,000	g	NCR Corp			5.000		10/01/28		2,421,969
	3,000,000		Tyco Electronics Group S.A.			3.500		02/03/22		3,096,340
	525,000		Tyco Electronics Group S.A.			3.700		02/15/26		589,250
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT							76,136,545
TELECOMMUNICATION SERVICES - 2.7%
	4,936,000		AT&T, Inc			3.000		06/30/22		5,131,507
	1,000,000		AT&T, Inc			2.950		07/15/26		1,091,947
	4,250,000		AT&T, Inc			3.800		02/15/27		4,791,020
	10,550,000		AT&T, Inc			4.350		03/01/29		12,383,167

173

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	8,200,000		AT&T, Inc		4.300	%	02/15/30	$	9,708,391
	7,400,000		AT&T, Inc		2.250		02/01/32		7,391,387
	2,300,000		AT&T, Inc		4.500		05/15/35		2,712,952
	12,359,000		AT&T, Inc		4.500		03/09/48		14,109,636
	9,500,000		AT&T, Inc		3.650		06/01/51		9,588,242
	8,825,000		AT&T, Inc		3.300		02/01/52		8,211,771
	7,122,000	g	AT&T, Inc		3.500		09/15/53		6,938,507
	4,400,000	g	AT&T, Inc		3.550		09/15/55		4,209,031
	2,399,000	g	AT&T, Inc		3.650		09/15/59		2,316,643
	1,875,000	g	Avaya, Inc		6.125		09/15/28		1,914,844
	2,000,000	g	Bharti Airtel Ltd		4.375		06/10/25		2,111,660
	450,000	g	C&W Senior Financing Designated Activity Co		7.500		10/15/26		471,375
	2,000,000	g	C&W Senior Financing Designated Activity Co		6.875		09/15/27		2,077,500
	630,000		Deutsche Telekom International Finance BV		8.750		06/15/30		978,264
	1,325,000	g	Front Range BidCo, Inc		4.000		03/01/27		1,304,098
	2,000,000	g	MTN Mauritius Investment Ltd		6.500		10/13/26		2,219,150
	2,000,000	g	Network i2i Ltd		5.650		N/A‡		2,000,000
	500,000		Orange S.A.		5.375		01/13/42		702,515
	1,000,000	g	Oztel Holdings SPC Ltd		6.625		04/24/28		990,274
	510,000		Rogers Communications, Inc		3.625		12/15/25		576,756
	1,900,000		Rogers Communications, Inc		3.700		11/15/49		2,121,500
	925,000	g	Switch Ltd		3.750		09/15/28		934,250
	4,700,000		Telefonica Emisiones SAU		4.103		03/08/27		5,343,496
	16,100,000	g	T-Mobile USA, Inc		3.875		04/15/30		18,306,183
	10,800,000	g,h	T-Mobile USA, Inc		2.550		02/15/31		11,189,664
	1,275,000	g,h	T-Mobile USA, Inc		3.000		02/15/41		1,258,731
	1,150,000	g	T-Mobile USA, Inc		4.500		04/15/50		1,382,254
	206,000		Verizon Communications, Inc		3.376		02/15/25		229,371
	950,000		Verizon Communications, Inc		4.125		03/16/27		1,120,881
	25,000,000		Verizon Communications, Inc		3.150		03/22/30		28,231,961
	11,097,000		Verizon Communications, Inc		4.272		01/15/36		13,667,683
	3,000,000		Verizon Communications, Inc		4.000		03/22/50		3,684,735
	6,625,000		Vodafone Group plc		4.375		05/30/28		7,840,330
	7,000,000		Vodafone Group plc		4.250		09/17/50		8,118,675
			TOTAL TELECOMMUNICATION SERVICES						207,360,351
TRANSPORTATION - 1.0%
	3,000,000	g	Adani Ports & Special Economic Zone Ltd		4.000		07/30/27		2,983,698
	800,000	g	Adani Ports & Special Economic Zone Ltd		4.200		08/04/27		802,687
	5,000,000		Boeing Co		2.950		02/01/30		4,835,292
	1,825,000		Boeing Co		3.250		02/01/35		1,713,856
	850,000		Boeing Co		3.750		02/01/50		777,710
	3,825,000		Burlington Northern Santa Fe LLC		3.050		02/15/51		4,155,070
	975,000		Canadian Pacific Railway Co		2.050		03/05/30		1,015,947
	1,000,000		CSX Corp		2.600		11/01/26		1,089,725
	625,000		CSX Corp		3.250		06/01/27		706,391
	700,000		CSX Corp		3.800		03/01/28		816,478
	9,715,000		CSX Corp		4.250		03/15/29		11,697,241
	5,400,000		CSX Corp		2.400		02/15/30		5,781,186
	3,475,000		Delta Air Lines, Inc		2.900		10/28/24		3,092,750
	775,000	g	Delta Air Lines, Inc		7.000		05/01/25		850,810
	1,275,000	g	Delta Air Lines, Inc		4.500		10/20/25		1,308,469
	2,275,000		Delta Air Lines, Inc		3.750		10/28/29		1,939,483
	1,000,000	g	DP World Ltd		5.625		09/25/48		1,140,000

174

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	12,225,000		FedEx Corp		3.100	%	08/05/29	$	13,572,740
	1,100,000	g	Indian Railway Finance Corp Ltd		3.249		02/13/30		1,101,878
	1,243,000	g	Mexico City Airport Trust		4.250		10/31/26		1,100,055
	700,000	g	Mileage Plus Holdings LLC		6.500		06/20/27		728,875
	2,650,000	g	Pelabuhan Indonesia III Persero PT		4.500		05/02/23		2,805,025
	5,200,000		Union Pacific Corp		3.950		09/10/28		6,129,946
	2,175,000		Union Pacific Corp		3.839		03/20/60		2,522,311
			TOTAL TRANSPORTATION						72,667,623
UTILITIES - 3.7%
	1,965,125	g	Adani Transmission Ltd		4.250		05/21/36		1,951,588
	1,000,000		AEP Transmission Co LLC		3.100		12/01/26		1,125,030
	1,000,000		AEP Transmission Co LLC		4.000		12/01/46		1,210,646
	725,000		Alabama Power Co		4.150		08/15/44		883,765
	3,000,000		Alabama Power Co		3.450		10/01/49		3,406,946
	4,600,000		Ameren Corp		3.650		02/15/26		5,189,133
	1,800,000		Ameren Corp		3.500		01/15/31		2,056,383
	1,650,000		American Water Capital Corp		3.000		12/01/26		1,790,138
	1,025,000		American Water Capital Corp		2.800		05/01/30		1,121,964
	1,400,000		American Water Capital Corp		4.000		12/01/46		1,689,918
	2,275,000		American Water Capital Corp		3.750		09/01/47		2,680,676
	675,000		American Water Capital Corp		3.450		05/01/50		755,004
	5,275,000	h	Atmos Energy Corp		1.500		01/15/31		5,250,434
	375,000		Atmos Energy Corp		4.125		10/15/44		463,794
	3,000,000		Avangrid, Inc		3.150		12/01/24		3,270,478
	800,000	g	Azure Power Solar Energy Pvt Ltd		5.650		12/24/24		830,842
	2,050,000		Baltimore Gas & Electric Co		3.750		08/15/47		2,410,498
	2,750,000		Baltimore Gas & Electric Co		3.200		09/15/49		2,953,807
	4,950,000		Berkshire Hathaway Energy Co		3.250		04/15/28		5,609,538
	1,075,000		Black Hills Corp		4.250		11/30/23		1,179,276
	850,000		Black Hills Corp		3.150		01/15/27		911,262
	159,000		CenterPoint Energy Resources Corp		4.500		01/15/21		159,246
	660,000		CenterPoint Energy Resources Corp		6.250		02/01/37		876,055
	1,125,000		CMS Energy Corp		3.600		11/15/25		1,256,932
	395,000		Commonwealth Edison Co		5.900		03/15/36		565,735
	6,750,000		Commonwealth Edison Co		3.000		03/01/50		7,198,760
	2,100,000		Dominion Energy Gas Holdings LLC		2.500		11/15/24		2,231,787
	1,550,000		Dominion Resources, Inc		2.000		08/15/21		1,569,376
	7,575,000		DTE Electric Co		2.250		03/01/30		8,062,665
	2,100,000		DTE Electric Co		2.950		03/01/50		2,217,582
	3,050,000		Duke Energy Corp		1.800		09/01/21		3,086,874
	7,575,000		Duke Energy Corp		2.650		09/01/26		8,197,436
	3,125,000		Duke Energy Corp		3.750		09/01/46		3,556,418
	1,438,452		Duke Energy Florida Project Finance LLC		1.731		09/01/22		1,408,746
	650,000		Duke Energy Ohio, Inc		3.800		09/01/23		705,839
	2,000,000		Enel Chile S.A.		4.875		06/12/28		2,361,000
	3,000,000	g	ENN Energy Holdings Ltd		2.625		09/17/30		2,997,840
	4,994,000		Entergy Corp		4.000		07/15/22		5,267,168
	3,075,000		Entergy Corp		2.950		09/01/26		3,394,642
	3,600,000	g	Eskom Holdings SOC Ltd		5.750		01/26/21		3,511,600
	900,000	g	Eskom Holdings SOC Ltd		8.450		08/10/28		825,987
	1,000,000		Eversource Energy		0.800		08/15/25		994,774
	3,000,000		Eversource Energy		3.450		01/15/50		3,339,189

175

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	1,225,000		Exelon Corp		4.050	%	04/15/30	$	1,432,686
	2,975,000		Exelon Generation Co LLC		3.400		03/15/22		3,083,553
	2,750,000		Florida Power & Light Co		2.850		04/01/25		3,015,534
	2,700,000		Florida Power & Light Co		3.990		03/01/49		3,449,114
	675,000	g	Grupo Energia Bogota S.A. ESP		4.875		05/15/30		754,312
	1,150,000		Indiana Michigan Power Co		3.750		07/01/47		1,334,356
	2,000,000	g	Inkia Energy Ltd		5.875		11/09/27		2,085,250
	555,000		Integrys Energy Group, Inc		4.170		11/01/20		556,655
	4,000,000	g	Israel Electric Corp Ltd		4.250		08/14/28		4,538,718
	2,000,000	g	Kallpa Generacion SA		4.125		08/16/27		2,090,000
	2,200,000	g	Korea Hydro & Nuclear Power Co Ltd		3.750		07/25/23		2,384,979
	7,275,000		MidAmerican Energy Co		3.650		04/15/29		8,662,601
	2,175,000		MidAmerican Energy Co		3.650		08/01/48		2,562,705
	1,325,000	g	Narragansett Electric Co		3.395		04/09/30		1,509,612
	1,650,000		Nevada Power Co		2.400		05/01/30		1,771,205
	1,150,000	g	Nexa Resources S.A.		6.500		01/18/28		1,254,650
	300,000		NextEra Energy Capital Holdings, Inc		3.250		04/01/26		335,459
	400,000		NextEra Energy Capital Holdings, Inc		2.750		11/01/29		431,387
	5,750,000		NextEra Energy Capital Holdings, Inc		2.250		06/01/30		5,984,021
	3,075,000		NiSource, Inc		3.490		05/15/27		3,425,559
	5,350,000		NiSource, Inc		3.600		05/01/30		6,092,154
	12,100,000		NiSource, Inc		1.700		02/15/31		11,878,081
	1,800,000		Northern States Power Co		2.900		03/01/50		1,922,641
	3,175,000		Northern States Power Co		2.600		06/01/51		3,214,836
	1,250,000		NRG Energy, Inc		5.750		01/15/28		1,348,437
	2,000,000		NSTAR Electric Co		3.200		05/15/27		2,237,484
	850,000		NSTAR Electric Co		3.950		04/01/30		1,027,520
	2,175,000		Ohio Power Co		4.150		04/01/48		2,702,371
	2,175,000		Ohio Power Co		4.000		06/01/49		2,657,302
	150,000		Oncor Electric Delivery Co LLC		7.250		01/15/33		231,769
	700,000		ONE Gas, Inc		3.610		02/01/24		761,136
	350,000	g	Pattern Energy Operations LP		4.500		08/15/28		363,125
	1,375,000		PECO Energy Co		3.000		09/15/49		1,464,263
	1,000,000		PECO Energy Co		2.800		06/15/50		1,034,502
	1,400,000	g	Perusahaan Listrik Negara PT		3.875		07/17/29		1,491,000
	2,000,000	g	Perusahaan Listrik Negara PT		3.375		02/05/30		2,062,480
	1,750,000	†,g,q	Petra Diamonds US Treasury plc		7.250		05/01/22		647,500
	135,000		Potomac Electric Power Co		7.900		12/15/38		203,913
	2,400,000		PPL Capital Funding, Inc		3.950		03/15/24		2,635,021
	1,000,000		PPL Electric Utilities Corp		3.000		09/15/21		1,019,036
	1,175,000	g	Promigas S.A. ESP		3.750		10/16/29		1,151,500
	3,450,000		PSEG Power LLC		3.850		06/01/23		3,711,614
	1,200,000	g	PTTEP Treasury Center Co Ltd		2.587		06/10/27		1,237,182
	3,225,000		Public Service Co of Colorado		3.200		03/01/50		3,659,851
	3,925,000		Public Service Electric & Gas Co		3.150		01/01/50		4,429,540
	3,750,000		Public Service Electric & Gas Co		2.700		05/01/50		3,905,603
	7,625,000		Public Service Electric & Gas Co		2.050		08/01/50		6,903,695
	2,775,000		Public Service Enterprise Group, Inc		0.800		08/15/25		2,756,042
	2,500,000	g	Rumo Luxembourg Sarl		5.250		01/10/28		2,600,500
	1,750,000		Southern Co		4.400		07/01/46		2,071,168
	15,000,000		Southern Co		4.000		01/15/51		15,041,602
	2,075,000		Southern Co Gas Capital Corp		3.875		11/15/25		2,329,177
	1,250,000		Southern Co Gas Capital Corp		4.400		06/01/43		1,483,767
	1,175,000		Southern Co Gas Capital Corp		3.950		10/01/46		1,311,872

176

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	4,950,000		Southern Power Co		2.500	%	12/15/21	$	5,066,461
	1,925,000		Southern Power Co		4.150		12/01/25		2,206,889
	4,900,000		Southwestern Public Service Co		3.400		08/15/46		5,404,263
	400,000		TC PipeLines LP		3.900		05/25/27		428,530
	2,000,000	g	Tengizchevroil Finance Co International Ltd		2.625		08/15/25		2,008,310
	845,000		Virginia Electric & Power Co		2.950		01/15/22		865,887
	1,025,000		Virginia Electric & Power Co		2.950		11/15/26		1,140,490
	1,050,000		Virginia Electric & Power Co		3.500		03/15/27		1,194,471
	6,000,000		Virginia Electric & Power Co		3.800		04/01/28		7,049,899
	1,000,000		Wisconsin Power & Light Co		4.100		10/15/44		1,166,703
	1,800,000		Xcel Energy, Inc		3.350		12/01/26		2,027,243
	470,000		Xcel Energy, Inc		4.800		09/15/41		587,202
			TOTAL UTILITIES						287,923,159
			TOTAL CORPORATE BONDS						3,218,096,707
			(Cost $3,026,240,099)
GOVERNMENT BONDS -  35.8%
AGENCY SECURITIES - 0.4%
	675,578		AMAL Ltd		3.465		08/21/21		686,053
	2,500,000		Amber Circle Funding Ltd		3.250		12/04/22		2,587,112
	3,479,000		Canal Barge Co, Inc		4.500		11/12/34		4,040,498
	6,000,000		Overseas Private Investment Corp (OPIC)		3.520		09/20/32		7,009,489
	11,000,000	g	Private Export Funding Corp (PEFCO)		3.266		11/08/21		11,336,522
	2,000,000	g	Reliance Industries Ltd		3.667		11/30/27		2,195,229
	1,510,000		UNM Sandoval Regional Medical Center		4.500		07/20/36		1,527,471
			TOTAL AGENCY SECURITIES						29,382,374
FOREIGN GOVERNMENT BONDS - 3.0%
	2,000,000	g	Abu Dhabi Government International Bond		3.125		05/03/26		2,197,397
	1,500,000	g	Abu Dhabi Government International Bond		2.500		09/30/29		1,602,850
	3,150,000	g	Abu Dhabi Government International Bond		3.125		09/30/49		3,369,555
	3,325,000	g	Arab Petroleum Investments Corp		4.125		09/18/23		3,576,038
	35,219		Argentine Republic Government International Bond		1.000		07/09/29		16,043
	1,013,650		Argentine Republic Government International Bond (Step Bond)		0.125		07/09/30		422,692
	1,500,000	g	Bahrain Government International Bond		5.450		09/16/32		1,424,949
	2,000,000	g	Banque Ouest Africaine de Developpement		4.700		10/22/31		2,087,460
	8,200	g	Barbados Government International Bond		6.500		02/01/21		8,138
	133,900	g	Barbados Government International Bond		6.500		10/01/29		130,057
	3,450,000	g	Bermuda Government International Bond		3.717		01/25/27		3,777,784
	1,575,000	g	Bermuda Government International Bond		4.750		02/15/29		1,878,502
	550,000	g	Bermuda Government International Bond		2.375		08/20/30		556,187
	3,000,000	g	BNG Bank NV		3.000		09/20/23		3,234,019
	1,660,000	g	Brazil Minas SPE via State of Minas Gerais		5.333		02/15/28		1,703,592
	1,450,000		Brazilian Government International Bond		3.875		06/12/30		1,448,550
	1,450,000		Brazilian Government International Bond		5.625		02/21/47		1,573,250
	5,950,000		Chile Government International Bond		2.550		01/27/32		6,277,250
	3,200,000		Colombia Government International Bond		3.000		01/30/30		3,251,200
	1,200,000		Colombia Government International Bond		5.000		06/15/45		1,398,000
COP	3,520,000,000		Colombian TES		7.250		10/26/50		959,996

177

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	1,475,000	g	Corp Financiera de Desarrollo S.A.		2.400	%	09/28/27	$	1,487,537
	2,925,000	g	Costa Rica Government International Bond		5.625		04/30/43		2,410,200
DOP	121,500,000	g	Dominican Republic Government International Bond		8.900		02/15/23		2,073,960
DOP	90,000,000	g	Dominican Republic Government International Bond		9.750		06/05/26		1,559,319
DOP	120,000,000	g	Dominican Republic Government International Bond		12.000		03/05/32		2,386,183
$	3,000,000	g	Dominican Republic Government International Bond		4.875		09/23/32		2,983,500
	3,000,000	g	Dominican Republic Government International Bond		6.500		02/15/48		3,034,500
	143,196	g	Ecuador Government International Bond		0.000		07/31/30		66,414
	458,325	g	Ecuador Government International Bond (Step Bond)		0.500		07/31/30		309,374
	1,201,102	g	Ecuador Government International Bond (Step Bond)		0.500		07/31/35		663,621
	550,475	g	Ecuador Government International Bond (Step Bond)		0.500		07/31/40		274,549
	1,125,000	g	Egypt Government International Bond		5.577		02/21/23		1,154,470
EUR	3,000,000	g	Egypt Government International Bond		5.625		04/16/30		3,177,133
$	1,050,000	g	Egypt Government International Bond		8.500		01/31/47		1,014,899
	1,875,000	g	Egypt Government International Bond		8.875		05/29/50		1,856,846
	1,200,000	g	El Salvador Government International Bond		7.625		02/01/41		1,003,200
	1,070,000	g	El Salvador Government International Bond		7.125		01/20/50		832,888
	395,000		European Investment Bank		4.875		02/15/36		595,629
	4,400,000	g	Export-Import Bank of India		3.875		02/01/28		4,614,104
	2,000,000		Export-Import Bank of Korea		0.750		09/21/25		1,993,949
	3,000,000		Export-Import Bank of Korea		1.250		09/21/30		2,952,862
	950,000	g	Ghana Government International Bond		8.125		03/26/32		830,919
	1,500,000	g	Ghana Government International Bond		8.627		06/16/49		1,260,000
	850,000	g	Guatemala Government International Bond		4.500		05/03/26		910,775
	1,550,000	g	Guatemala Government International Bond		4.375		06/05/27		1,657,725
EUR	1,750,000	g	Hellenic Republic Government International Bond		1.875		07/23/26		2,210,677
$	3,200,000	g	Honduras Government International Bond		6.250		01/19/27		3,500,800
	250,000	g	Honduras Government International Bond		5.625		06/24/30		267,375
IDR	28,000,000,000		Indonesia Treasury Bond		7.000		09/15/30		1,887,742
IDR	25,500,000,000		Indonesia Treasury Bond		7.500		08/15/32		1,735,255
$	1,921,875	g	Iraq Government International Bond		5.800		01/15/28		1,712,487
	3,100,000		Israel Government International Bond		3.250		01/17/28		3,531,873
	2,175,000		Israel Government International Bond		4.125		01/17/48		2,751,506
	1,452,500	g	Ivory Coast Government International Bond (Step Bond)		5.750		12/31/32		1,343,562
	3,050,000		Jamaica Government International Bond		7.875		07/28/45		3,859,775
	1,500,000	g	Japan Finance Organization for Municipalities		3.000		03/12/24		1,620,158
	1,750,000	g	Jordan Government International Bond		4.950		07/07/25		1,742,781
	1,500,000	g	Jordan Government International Bond		5.750		01/31/27		1,500,075
	1,375,000	g	Kenya Government International Bond		7.000		05/22/27		1,348,266
	1,150,000	g	Kommunalbanken AS.		1.375		10/26/20		1,150,863
	2,080,000	g	Kommunalbanken AS.		2.750		02/05/24		2,243,818
	2,000,000	g	Kommunalbanken AS.		1.125		06/14/30		2,027,581
	3,175,000	g	Korea Electric Power Corp		1.125		06/15/25		3,190,399
	1,650,000	g	Korea Housing Finance Corp		2.000		10/11/21		1,672,194

178

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	1,500,000	g	Korea Housing Finance Corp		3.000	%	10/31/22	$	1,570,470
	15,000,000		Kreditanstalt fuer Wiederaufbau		2.750		10/01/20		15,000,000
	2,200,000		Mexico Government International Bond		4.150		03/28/27		2,444,200
	1,950,000		Mexico Government International Bond		3.250		04/16/30		1,989,995
	3,424,000		Mexico Government International Bond		6.050		01/11/40		4,281,472
	1,500,000	g	Mongolia Government International Bond		5.125		12/05/22		1,529,736
	2,000,000	g	Morocco Government International Bond		5.500		12/11/42		2,482,032
	2,500,000	g	Namibia Government International Bond		5.250		10/29/25		2,477,788
	2,000,000	g	Nederlandse Waterschapsbank NV		2.125		11/15/21		2,041,108
	2,000,000	g	Nederlandse Waterschapsbank NV		3.125		12/05/22		2,121,606
	2,425,000	g	Nigeria Government International Bond		6.500		11/28/27		2,307,591
	1,500,000	g	Oman Government International Bond		6.000		08/01/29		1,380,630
	3,000,000		Panama Government International Bond		4.300		04/29/53		3,686,250
	3,225,000	g	Panama Notas del Tesoro		3.750		04/17/26		3,445,267
	475,000	g	Paraguay Government International Bond		4.700		03/27/27		538,417
	725,000	g	Paraguay Government International Bond		5.400		03/30/50		877,982
	3,400,000	g	Perusahaan Penerbit SBSN Indonesia III		3.900		08/20/24		3,734,220
	4,650,000	g	Perusahaan Penerbit SBSN Indonesia III		4.400		03/01/28		5,309,417
	1,825,000		Peruvian Government International Bond		4.125		08/25/27		2,128,406
PEN	6,775,000	g	Peruvian Government International Bond		5.400		08/12/34		1,965,997
$	554,167	g	Petroamazonas EP		4.625		12/06/21		493,209
	2,600,000		Philippine Government International Bond		3.750		01/14/29		3,030,239
	620,000		Province of Quebec Canada		7.500		09/15/29		950,807
	1,500,000	†,g	Provincia de Mendoza Argentina		8.375		05/19/24		975,015
	450,000	g	Qatar Government International Bond		3.400		04/16/25		493,124
	1,375,000	g	Qatar Government International Bond		3.750		04/16/30		1,593,170
	1,075,000	g	Republic of Belarus Government International Bond		7.625		06/29/27		1,046,849
	5,000,000		Republic of Italy Government International Bond		4.000		10/17/49		5,362,590
	2,200,000	g	Republic of Paraguay		6.100		08/11/44		2,836,900
	2,150,000	g	Republic of Uzbekistan Government International Bond		4.750		02/20/24		2,257,150
	2,000,000	g	Romanian Government International Bond		3.000		02/14/31		2,052,886
	2,900,000	g	Saudi Government International Bond		4.500		04/17/30		3,465,956
	2,000,000	g	Saudi Government International Bond		3.750		01/21/55		2,163,200
RSD	290,000,000		Serbia Treasury Bonds		5.875		02/08/28		3,373,595
$	2,000,000		South Africa Government International Bond		5.875		09/16/25		2,139,024
	2,900,000	g	Southern Gas Corridor CJSC		6.875		03/24/26		3,296,824
	1,125,000	g	Sri Lanka Government International Bond		6.850		03/14/24		821,011
	2,050,000		State of Israel		3.375		01/15/50		2,269,957
EUR	2,275,000	g	Ukraine Government International Bond		4.375		01/27/30		2,172,101
$	1,776,946		Uruguay Government International Bond		4.375		01/23/31		2,112,345
	2,400,000	g	Zambia Government International Bond		8.500		04/14/24		1,168,346
			TOTAL FOREIGN GOVERNMENT BONDS						226,682,134
MORTGAGE BACKED - 20.9%
	332		Federal Home Loan Mortgage Corp (FHLMC)		7.500		11/15/21		339
	488		FHLMC		6.000		05/15/22		498
	9,825,000		FHLMC		3.000		10/15/33		10,967,082
	4,453,348		FHLMC		3.500		08/15/43		4,595,728
	15,852,884		FHLMC		3.500		03/15/44		17,375,434
	4,685,686	i	FHLMC		5.768		03/15/44		893,958

179

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	14,166,545		FHLMC		4.000	%	10/01/47	$	15,680,045
	6,759,787	i	FHLMC		9.676		06/15/48		8,495,100
	2,104,247		FHLMC		3.000		09/01/48		2,212,367
	7,783,690	i	FHLMC		9.596		10/15/48		9,899,778
	41,623,749		FHLMC		4.000		09/01/49		45,917,994
	655		Federal Home Loan Mortgage Corp Gold (FGLMC)		8.000		01/01/31		677
	13,637		FGLMC		8.000		09/01/31		16,144
	73,422		FGLMC		7.000		12/01/31		85,250
	62,897		FGLMC		4.500		07/01/33		69,303
	436,876		FGLMC		7.000		12/01/33		511,433
	146,279		FGLMC		4.500		04/01/35		161,277
	118,776		FGLMC		7.000		05/01/35		137,744
	2,559,608		FGLMC		5.000		06/01/36		2,944,599
	105,691		FGLMC		5.000		07/01/39		121,747
	2,284,849		FGLMC		5.000		08/01/44		2,625,244
	123,595		FGLMC		4.500		11/01/44		137,947
	205,849		FGLMC		4.500		11/01/44		229,783
	86,827		FGLMC		4.500		12/01/44		95,440
	130,878		FGLMC		4.500		12/01/44		146,148
	887,945		FGLMC		3.500		04/01/45		981,613
	19,909,235		FGLMC		3.500		08/01/45		22,155,512
	23,471,654		FGLMC		3.500		10/01/45		25,890,682
	4,862,407		FGLMC		4.000		12/01/45		5,403,577
	27,702,763		FGLMC		3.500		08/01/46		30,526,348
	23,655,094		FGLMC		3.000		02/01/47		24,811,045
	7,039,336		FGLMC		4.500		06/01/47		7,856,620
	6,133,993		FGLMC		4.000		09/01/47		6,722,567
	7,324,379		FGLMC		3.500		12/01/47		8,025,283
	21,531,442		FGLMC		3.500		03/01/48		23,541,107
	16,908,051		FGLMC		4.000		03/01/48		18,818,615
	3,917,664		FGLMC		4.000		07/01/48		4,310,656
	19,799,338		FGLMC		4.500		08/01/48		21,895,445
	164		Federal National Mortgage Association (FNMA)		8.000		07/01/24		180
	161		FNMA		7.500		01/01/29		179
	990		FNMA		7.500		03/01/31		1,190
	1,757,322		FNMA		3.500		05/01/32		1,874,456
	5,613,844		FNMA		3.000		10/01/32		5,889,856
	34,000,000	h	FNMA		2.500		10/25/32		35,498,125
	940,871		FNMA		3.500		11/01/32		1,005,216
	977,721		FNMA		5.000		05/01/35		1,123,779
	739,190		FNMA		5.000		10/01/35		850,565
	49,000,000	h	FNMA		2.000		10/25/35		50,914,062
	385,301		FNMA		5.000		02/01/36		443,219
	411,114		FNMA		5.500		11/01/38		477,547
	336,908		FNMA		5.500		03/01/39		396,796
	10,869,942		FNMA		3.000		10/01/39		11,381,528
	3,511,801		FNMA		3.000		05/01/40		3,685,626
	806,401		FNMA		5.000		09/01/40		928,815
	412,703		FNMA		4.000		02/01/41		455,495
	664,400		FNMA		5.000		05/01/41		765,497
	12,070,369		FNMA		4.000		09/01/42		13,224,416
	1,092,727		FNMA		3.500		04/01/43		1,205,033
	5,321,998		FNMA		3.000		04/25/43		5,591,172

180

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	976,139		FNMA		3.500	%	09/01/43	$	1,076,450
	5,259,543	i	FNMA		5.802		09/25/43		1,178,066
	3,261,796		FNMA		4.000		01/01/44		3,631,760
	2,443,436		FNMA		4.500		03/01/44		2,758,971
	1,083,600		FNMA		4.500		06/01/44		1,210,856
	3,957,432		FNMA		4.500		06/01/44		4,421,060
	934,394		FNMA		3.500		07/01/44		1,009,977
	2,466,240		FNMA		4.500		08/01/44		2,755,175
	3,342,373		FNMA		4.500		10/01/44		3,734,172
	2,506,745		FNMA		4.500		11/01/44		2,797,328
	2,485,847		FNMA		5.000		11/01/44		2,856,943
	624,277		FNMA		4.500		12/01/44		697,447
	2,548,200		FNMA		4.000		01/01/45		2,786,004
	6,867,168		FNMA		3.000		02/25/45		7,195,807
	1,860,932		FNMA		3.000		02/25/45		1,916,449
	244,824		FNMA		3.500		03/01/45		270,570
	180,767		FNMA		3.500		03/01/45		199,776
	1,989,824		FNMA		3.000		03/25/45		2,062,037
	4,908,744		FNMA		3.500		04/25/45		5,121,320
	2,430,891		FNMA		3.500		05/01/45		2,704,273
	4,117,351		FNMA		4.000		06/01/45		4,542,599
	5,239,458		FNMA		4.000		12/01/45		5,829,933
	12,798,282		FNMA		3.000		12/25/45		13,316,918
	5,109,435		FNMA		3.500		01/01/46		5,634,746
	4,649,656		FNMA		4.000		01/01/46		5,178,391
	4,246,964		FNMA		4.000		03/01/46		4,684,357
	4,162,844		FNMA		3.500		06/01/46		4,590,855
	7,790,856		FNMA		3.500		07/01/46		8,591,876
	16,490,051		FNMA		3.500		07/01/46		18,172,144
	5,794,708		FNMA		3.000		10/01/46		5,970,971
	2,395,038		FNMA		3.500		10/01/46		2,641,297
	20,086,034		FNMA		3.000		11/01/46		21,113,772
	2,892,441		FNMA		3.000		04/25/47		3,105,693
	4,528,397		FNMA		4.500		05/01/47		5,077,221
	2,513,727		FNMA		3.500		09/01/47		2,679,683
	16,607,836		FNMA		4.000		09/01/47		17,812,509
	29,612,147		FNMA		4.000		09/01/47		31,703,738
	2,653,949		FNMA		3.000		11/01/47		2,736,237
	3,422,318		FNMA		3.000		11/01/47		3,524,848
	8,446,757		FNMA		3.500		11/01/47		9,333,641
	24,273,448		FNMA		4.000		12/01/47		27,019,903
	822,434		FNMA		4.000		12/01/47		881,183
	12,219,790		FNMA		3.500		01/01/48		13,516,589
	4,050,638		FNMA		3.500		01/01/48		4,455,452
	5,318,953		FNMA		4.500		01/01/48		5,986,543
	2,054,711		FNMA		4.500		02/01/48		2,311,375
	24,632,397		FNMA		3.000		02/25/48		26,180,928
	34,746,407		FNMA		3.500		03/01/48		36,745,716
	4,238,227		FNMA		4.000		03/01/48		4,686,124
	8,892,319		FNMA		4.500		03/01/48		9,983,451
	2,699,215		FNMA		4.500		05/01/48		3,012,566
	3,632,737		FNMA		4.500		05/01/48		4,078,515
	4,111,160		FNMA		5.000		08/01/48		4,660,205

181

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	6,379,339		FNMA		0.000	%	11/25/48	$	5,913,804
	6,379,339		FNMA		3.000		11/25/48		710,692
	142,688		FNMA		3.000		05/01/49		146,932
	2,671,163		FNMA		3.000		06/01/49		2,749,076
	3,998,537		FNMA		3.000		08/01/49		4,352,201
	107,000,000	h	FNMA		2.500		10/01/50		112,313,517
	38,000,000	h	FNMA		2.000		10/25/50		39,282,500
	80,000,000	h	FNMA		3.000		10/25/50		83,803,125
	59,000,000	h	FNMA		2.000		11/25/50		60,845,466
	74,000,000	h	FNMA		2.500		11/25/50		77,453,559
	111,000,000	h	FNMA		3.000		11/25/50		116,302,852
	41,272		Government National Mortgage Association (GNMA)		6.500		11/20/38		48,183
	11,607		GNMA		4.500		02/20/39		13,396
	385,471		GNMA		5.000		06/15/39		442,160
	15,674		GNMA		4.500		08/20/41		17,709
	53,508		GNMA		4.500		09/20/41		61,607
	1,127,389		GNMA		3.500		06/15/42		1,189,477
	10,974		GNMA		4.500		01/20/44		12,666
	9,698		GNMA		4.500		02/20/44		11,171
	24,857		GNMA		4.500		05/20/44		28,663
	156,906		GNMA		4.500		05/20/44		180,583
	179,215		GNMA		4.500		08/20/44		206,566
	115,749		GNMA		4.500		09/20/44		133,279
	54,141		GNMA		4.500		10/20/44		59,822
	27,373		GNMA		4.500		11/20/44		29,641
	111,125		GNMA		4.500		12/20/44		128,111
	143,958		GNMA		4.500		02/20/45		162,314
	178,900		GNMA		4.500		08/20/45		206,264
	178,517		GNMA		4.500		08/20/45		205,974
	161,212		GNMA		4.500		12/20/45		185,778
	4,535,754		GNMA		4.000		06/20/46		529,402
	138,000,000	h	GNMA		3.000		10/20/46		144,490,312
	9,341,026		GNMA		3.500		01/20/49		10,233,376
	35,000,000	h	GNMA		2.000		10/20/50		36,356,250
	52,000,000	h	GNMA		2.500		10/20/50		54,396,875
			TOTAL MORTGAGE BACKED						1,583,320,604
MUNICIPAL BONDS - 3.7%
	6,695,000		Alabama Economic Settlement Authority		3.163		09/15/25		7,107,077
	990,000		Chicago Housing Authority		3.682		01/01/25		1,074,298
	380,000		City & County of San Francisco CA Community Facilities District		3.028		09/01/23		397,761
	550,000		City & County of San Francisco CA Community Facilities District		4.038		09/01/34		625,356
	3,605,000		City of Austin TX Electric Utility Revenue		2.456		11/15/22		3,764,918
	1,500,000		City of Austin TX Electric Utility Revenue		2.524		11/15/23		1,596,585
	3,595,000		City of Austin TX Electric Utility Revenue		2.574		11/15/24		3,881,234
	2,210,000		City of Austin TX Electric Utility Revenue		2.677		11/15/25		2,428,414
	3,670,000		City of Los Angeles CA		3.320		09/01/24		4,071,902
	3,670,000		City of Los Angeles CA		3.450		09/01/25		4,168,019
	4,945,000		City of New York NY		3.200		12/01/26		5,518,867
	2,215,000		Commonwealth Financing Authority		3.864		06/01/38		2,546,408
	1,875,000		County of Miami-Dade FL Aviation Revenue		1.885		10/01/21		1,882,406

182

TIAA-CREF FUNDS – Core Bond Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	1,500,000	County of Miami-Dade FL Aviation Revenue		2.218	%	10/01/22	$	1,519,305
	1,500,000	County of Miami-Dade FL Aviation Revenue		2.368		10/01/23		1,530,105
	2,500,000	County of Miami-Dade FL Aviation Revenue		3.285		10/01/23		2,616,925
	3,500,000	County of Miami-Dade FL Aviation Revenue		2.504		10/01/24		3,596,530
	2,250,000	County of Miami-Dade FL Aviation Revenue		3.405		10/01/24		2,389,927
	3,500,000	County of Miami-Dade FL Aviation Revenue		2.604		10/01/25		3,619,140
	2,380,000	County of Miami-Dade FL Aviation Revenue		3.505		10/01/25		2,562,808
	2,500,000	County of Miami-Dade FL Aviation Revenue		2.704		10/01/26		2,600,225
	2,000,000	County of Miami-Dade FL Aviation Revenue		3.049		10/01/26		2,105,100
	3,750,000	County of Miami-Dade FL Aviation Revenue		3.612		10/01/26		4,091,925
	470,000	County of Miami-Dade FL Aviation Revenue		4.280		10/01/41		506,857
	4,265,000	Denver City & County School District No. 1		3.598		12/15/27		4,799,277
	8,840,000	Health & Educational Facilities Authority of the State of Missouri		3.651		01/15/46		10,835,718
	5,075,000	Illinois Finance Authority		3.944		08/15/47		6,023,467
	1,000,000	Los Angeles County Redevelopment Agency		2.000		09/01/22		1,026,800
	2,350,000	Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy		1.500		09/01/21		2,371,314
	4,805,000	Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy		3.375		09/01/35		5,057,983
	4,750,000	Michigan Finance Authority		2.862		09/01/49		4,903,995
	6,650,000	Michigan Finance Authority		2.988		09/01/49		7,137,511
	3,400,000	New Jersey Economic Development Authority		7.425		02/15/29		4,230,654
	4,075,000	New York State Dormitory Authority		4.294		07/01/44		4,540,120
	6,000,000	New York State Dormitory Authority		3.879		07/01/46		6,518,040
	850,000	Oklahoma City Economic Development Trust		3.172		09/01/21		870,256
	1,120,000	Oklahoma City Economic Development Trust		3.222		09/01/22		1,174,925
	810,000	Oklahoma City Economic Development Trust		3.440		09/01/24		890,214
	5,000,000	Port of Morrow OR		1.782		09/01/21		5,069,700
	2,000,000	Port of Seattle WA		3.471		05/01/31		2,138,280
	1,625,000	Port of Seattle WA		3.571		05/01/32		1,736,589
	1,910,000	Public Finance Authority		4.269		07/01/40		2,262,892
	1,000,000	Regents of the University of California Medical Center Pooled Revenue		2.037		05/15/23		1,033,960
	1,000,000	Regents of the University of California Medical Center Pooled Revenue		2.259		05/15/24		1,051,740
	1,250,000	Regents of the University of California Medical Center Pooled Revenue		2.359		05/15/25		1,333,088
	1,785,000	Regents of the University of California Medical Center Pooled Revenue		2.459		05/15/26		1,922,499
	1,600,000	Regents of the University of California Medical Center Pooled Revenue		2.559		05/15/27		1,738,576
	700,000	Regents of the University of California Medical Center Pooled Revenue		2.659		05/15/28		769,027
	905,000	Regents of the University of California Medical Center Pooled Revenue		2.759		05/15/29		1,004,378
	3,980,000	Rhode Island Convention Center Authority		3.195		05/15/26		4,170,125
	5,000,000	San Francisco City & County Redevelopment Agency		2.813		08/01/21		5,068,300
	875,000	San Francisco City & County Redevelopment Agency		3.113		08/01/22		904,260
	6,365,000	San Jose Redevelopment Agency		3.375		08/01/34		6,962,801

183

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	165,000		Santa Ana Community Redevelopment Agency Successor Agency		3.346	%	09/01/21	$	169,577
	660,000		Santa Ana Community Redevelopment Agency Successor Agency		3.467		09/01/22		699,079
	660,000		Santa Ana Community Redevelopment Agency Successor Agency		3.567		09/01/23		720,581
	13,060,000		State of California		4.600		04/01/38		15,554,721
	3,460,000		State of Georgia		1.910		02/01/23		3,594,386
	1,845,000		State of Illinois		4.700		01/01/21		1,850,849
	21,060,000		State of Illinois		5.100		06/01/33		21,283,025
	10,500,000		State of Michigan		1.779		11/01/21		10,671,465
	7,000,000		State of Michigan		1.966		11/01/22		7,214,690
	3,500,000		State of Texas		3.225		10/01/24		3,889,305
	1,000,000		State of Texas		3.295		10/01/25		1,135,280
	9,900,000		State of Wisconsin		3.154		05/01/27		11,120,373
	1,763,000		State Public School Building Authority		5.000		09/15/27		2,113,185
	7,500,000		Texas A&M University		3.993		05/15/37		8,415,600
	1,000,000		University of California		1.784		05/15/21		1,008,660
	15,000,000		University of California		1.910		05/15/21		15,087,900
	3,000,000		University of California		2.220		05/15/23		3,120,870
	2,000,000		University of California		2.439		05/15/24		2,119,240
	2,000,000		University of California		2.589		05/15/25		2,156,540
	6,635,000		University of California		3.552		05/15/39		7,892,333
			TOTAL MUNICIPAL BONDS						283,566,240
U.S. TREASURY SECURITIES - 7.8%
	2,250,000		United States Treasury Bond		4.750		02/15/37		3,545,244
	46,875,000		United States Treasury Bond		3.500		02/15/39		65,800,781
	16,015,000		United States Treasury Bond		3.875		08/15/40		23,704,077
	12,000,000		United States Treasury Bond		3.125		11/15/41		16,215,000
	1,380,000		United States Treasury Bond		2.500		05/15/46		1,704,893
	10,450,000		United States Treasury Bond		3.000		05/15/47		14,156,893
	1,255,000		United States Treasury Bond		2.750		08/15/47		1,628,902
	42,835,000		United States Treasury Bond		2.750		11/15/47		55,663,748
	55,445,000		United States Treasury Bond		3.000		02/15/48		75,346,723
	510,000		United States Treasury Bond		3.125		05/15/48		709,020
	46,841,000		United States Treasury Bond		3.375		11/15/48		68,151,825
	18,899,744	k	United States Treasury Inflation Indexed Bonds		0.500		04/15/24		20,062,767
	8,600,000		United States Treasury Note		0.125		08/31/22		8,597,648
	3,960,000		United States Treasury Note		0.125		09/30/22		3,959,536
	3,630,000		United States Treasury Note		0.125		09/15/23		3,626,597
	38,610,000		United States Treasury Note		0.250		09/30/25		38,558,721
	100,000,000		United States Treasury Note		0.375		09/30/27		99,328,125
	130,000		United States Treasury Note		3.125		11/15/28		156,584
	37,625,000		United States Treasury Note		0.625		08/15/30		37,407,480
	13,811,000		United States Treasury Note		1.250		05/15/50		13,088,081
	44,875,000		United States Treasury Note		1.375		08/15/50		43,907,383
			TOTAL U.S. TREASURY SECURITIES						595,320,028
			TOTAL GOVERNMENT BONDS						2,718,271,380
			(Cost $2,572,549,712)

184

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
STRUCTURED ASSETS - 16.6%
ASSET BACKED - 7.3%
$	5,000,000	g,i	AGL CLO 7 Ltd		2.050	%	07/15/31	$	5,017,083
			Series - 2020 7A (Class A1)
	7,500,000	†,g,h,i	Aimco CLO 11 Ltd		0.000		10/15/31		7,500,000
			Series - 2020 11A (Class A1)
	2,000,000	g,i	Allegany Park CLO Ltd		1.602		01/20/33		1,992,367
			Series - 2019 1A (Class A)
	311,607		American Airlines Pass Through Trust		3.575		01/15/28		298,972
			Series - 2016 1 (Class AA)
	11,900,000		American Express Credit Account Master Trust		2.670		11/15/24		12,346,924
			Series - 2019 2 (Class A)
	822,515	g	American Homes 4 Rent Trust		3.786		10/17/36		888,085
			Series - 2014 SFR2 (Class A)
	3,250,000		AmeriCredit Automobile Receivables Trust		0.660		12/18/24		3,261,140
			Series - 2020 2 (Class A3)
	2,000,000		AmeriCredit Automobile Receivables Trust		2.130		03/18/26		2,025,626
			Series - 2020 2 (Class D)
	1,233,816	g	AMSR Trust		1.819		04/17/37		1,257,942
			Series - 2020 SFR1 (Class A)
	2,000,000	g,i	AMSR Trust		3.148		01/19/39		2,062,901
			Series - 2019 SFR1 (Class C)
	1,700,000	g,i	AMSR Trust		3.247		01/19/39		1,738,449
			Series - 2019 SFR1 (Class D)
	2,750,000	g	Applebee’s Funding LLC		4.194		06/07/49		2,548,067
			Series - 2019 1A (Class A2I)
	784,615	†,i	ARTS Ltd		2.030		09/15/21		770,885
			Series - 2016 53 (Class NOTE)
	55,677	†,g	Asset Backed Funding Corp NIM Trust		5.900		07/26/35		1
			Series - 2005 WMC1 (Class N1)
	512,235	i	Asset Backed Securities Corp Home Equity Loan Trust		3.386		08/25/34		504,491
			Series - 2004 HE5 (Class M1)
	10,000,000	g	Atrium XV		4.489		01/23/31		10,055,579
			Series - 2018 15A (Class A2)
	4,000,000	g	Avis Budget Rental Car Funding AESOP LLC		3.450		03/20/23		4,093,095
			Series - 2019 1A (Class A)
	6,000,000	g	Avis Budget Rental Car Funding AESOP LLC		3.070		09/20/23		6,141,556
			Series - 2017 1A (Class A)
	8,500,000	g	Avis Budget Rental Car Funding AESOP LLC		2.970		03/20/24		8,771,200
			Series - 2017 2A (Class A)
	2,000,000	i	Bayview Financial Mortgage Pass-Through Trust		1.120		02/28/41		1,982,210
			Series - 2006 A (Class M3)
	8,772,891	i	Bear Stearns Asset Backed Securities Trust		0.818		04/25/36		8,711,946
			Series - 2006 SD1 (Class M1)
	1,808,501	g	BRE Grand Islander Timeshare Issuer LLC		3.280		09/26/33		1,854,749
			Series - 2019 A (Class A)
	5,668,653	g	Capital Automotive REIT		3.660		10/15/44		5,685,636
			Series - 2014 1A (Class A)
	12,788,537	g	Capital Automotive REIT		3.870		04/15/47		12,811,196
			Series - 2017 1A (Class A1)
	6,852,311	g	Capital Automotive REIT		2.690		02/15/50		6,938,089
			Series - 2020 1A (Class A1)

185

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	12,500,000	g,i	Cayuga Park CLO, Ltd.		1.832	%	07/17/31	$	12,518,862
			Series - 2020 1A (Class A)
	652,938	i	C-BASS Trust		0.228		07/25/36		623,285
			Series - 2006 CB6 (Class A1)
	8,817,685	†,g,i	CBRE Realty Finance		0.576		04/07/52		0
			Series - 2007 1A (Class A2)
	9,750,000	g	CF Hippolyta LLC		1.690		07/15/60		9,858,414
			Series - 2020 1 (Class A1)
	2,995,002	g	CF Hippolyta LLC		1.990		07/15/60		3,053,484
			Series - 2020 1 (Class A2)
	2,000,000	g	CF Hippolyta LLC		2.280		07/15/60		2,034,575
			Series - 2020 1 (Class B1)
	30,105,000		Chase Issuance Trust		1.530		01/15/25		30,962,860
			Series - 2020 A1 (Class A1)
	1,500,000	g,i	CIFC Funding Ltd		1.492		07/20/30		1,473,809
			Series - 2017 3A (Class A1)
	5,000,000	g,i	CIFC Funding Ltd		1.932		08/24/32		5,016,369
			Series - 2020 2A (Class A1)
	39,914		CIT Group Home Equity Loan Trust (Step Bond)		6.200		02/25/30		40,810
			Series - 2002 1 (Class AF6)
	1,000,000	i	Citibank Credit Card Issuance Trust		0.486		01/20/25		1,002,193
			Series - 2018 A2 (Class A2)
	470,000	i	Citigroup Mortgage Loan Trust		0.898		01/25/36		466,071
			Series - 2006 WFH1 (Class M4)
	1,251,736	g	Corevest American Finance Trust		1.832		03/15/50		1,250,071
			Series - 2020 1 (Class A1)
	12,187,500	g	DB Master Finance LLC		3.629		11/20/47		12,551,053
			Series - 2017 1A (Class A2I)
	1,623,600	g	DB Master Finance LLC		3.787		05/20/49		1,673,428
			Series - 2019 1A (Class A2I)
	1,113,750	g	DB Master Finance LLC		4.352		05/20/49		1,211,927
			Series - 2019 1A (Class A23)
	2,788,808	g	Diamond Resorts Owner Trust		2.890		02/20/32		2,874,533
			Series - 2019 1A (Class A)
	4,300,000	i	Discover Card Execution Note Trust		0.512		10/15/22		4,310,618
			Series - 2017 A7 (Class A7)
	2,592,000	g	Domino’s Pizza Master Issuer LLC		4.474		10/25/45		2,750,734
			Series - 2015 1A (Class A2II)
	573,775	g,i	Domino’s Pizza Master Issuer LLC		0.000		07/25/47		573,970
			Series - 2017 1A (Class A2I)
	13,347,563	g	Domino’s Pizza Master Issuer LLC		3.082		07/25/47		13,374,792
			Series - 2017 1A (Class A2II)
	2,352,000	g	Domino’s Pizza Master Issuer LLC		4.116		07/25/48		2,488,369
			Series - 2018 1A (Class A2I)
	5,920,000	g,i	Dryden 50 Senior Loan Fund		1.495		07/15/30		5,872,616
			Series - 2017 50A (Class A1)
	3,536,755	g,i	Ellington Loan Acquisition Trust		1.248		05/25/37		3,528,005
			Series - 2007 2 (Class A2C)
	750,000	g,i	FREMF Mortgage Trust		4.158		03/25/49		829,659
			Series - 2016 K53 (Class B)
	1,373,069	g	HERO Funding Trust		3.190		09/20/48		1,414,818
			Series - 2017 3A (Class A1)
	501,978	g	HERO Funding Trust		3.280		09/20/48		519,278
			Series - 2017 2A (Class A1)

186

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	1,784,990	g	HERO Funding Trust		3.950	%	09/20/48	$	1,871,806
			Series - 2017 3A (Class A2)
	1,004,367	g	HERO Funding Trust		4.070		09/20/48		1,060,736
			Series - 2017 2A (Class A2)
	1,075,127	g	Hertz Vehicle Financing II LP		3.710		03/25/23		1,076,809
			Series - 2019 1A (Class A)
	6,048,905	g	Hertz Vehicle Financing II LP		3.290		02/25/24		6,064,932
			Series - 2018 1A (Class A)
	976,709	g	Hertz Vehicle Financing II LP		3.420		05/25/25		979,465
			Series - 2019 2A (Class A)
	2,928,595	g	Hertz Vehicle Financing LLC		4.030		07/25/24		2,947,423
			Series - 2018 3A (Class A)
	1,326,802	g	Hilton Grand Vacations Trust		2.660		12/26/28		1,354,412
			Series - 2017 AA (Class A)
	995,102	g	Hilton Grand Vacations Trust		2.960		12/26/28		1,000,778
			Series - 2017 AA (Class B)
	1,981,958	g	Hilton Grand Vacations Trust		2.340		07/25/33		2,027,925
			Series - 2019 AA (Class A)
	154,453	i	Home Equity Asset Trust		3.986		06/25/33		154,270
			Series - 2003 1 (Class M1)
	4,243,105	g	Horizon Aircraft Finance II Ltd		3.721		07/15/39		3,961,017
			Series - 2019 1 (Class A)
	4,595,826	g	Horizon Aircraft Finance III Ltd		3.425		11/15/39		4,212,868
			Series - 2019 2 (Class A)
	491,017	g,i	Invitation Homes Trust		1.052		06/17/37		490,095
			Series - 2018 SFR2 (Class A)
	200,000	g,i	Invitation Homes Trust		1.602		06/17/37		199,626
			Series - 2018 SFR2 (Class D)
	1,052,036	g,i	Invitation Homes Trust		1.151		07/17/37		1,052,203
			Series - 2018 SFR3 (Class A)
	3,009,830	g,i	Invitation Homes Trust		1.251		01/17/38		3,009,954
			Series - 2018 SFR4 (Class A)
	1,400,000	g,i	Invitation Homes Trust		1.801		01/17/38		1,399,999
			Series - 2018 SFR4 (Class D)
	1,321,207	i	JP Morgan Mortgage Acquisition Trust		0.468		03/25/37		1,296,002
			Series - 2007 CH3 (Class A1B)
	5,258,695	i	JP Morgan Mortgage Acquisition Trust		0.308		06/25/37		5,139,081
			Series - 2007 CH5 (Class A1)
	3,000,000	g	Laurel Road Prime Student Loan Trust		0.720		11/25/50		2,999,749
			Series - 2020 A (Class A1FX)
	1,000,000	g,i	Madison Park Funding X Ltd		2.072		01/20/29		996,911
			Series - 2012 10A (Class BR2)
	530,000	g,i	Magnetite XVIII Ltd		1.780		11/15/28		522,378
			Series - 2016 18A (Class BR)
	271,003	g	Mid-State Capital Trust		7.000		12/15/45		284,085
			Series - 2010 1 (Class B)
	497,882	g	MVW Owner Trust		2.520		12/20/32		500,147
			Series - 2015 1A (Class A)
	3,996,602	g	MVW Owner Trust		3.000		11/20/36		4,056,430
			Series - 2019 1A (Class B)
	3,100,000	g	Navient Student Loan Trust		3.390		12/15/59		3,202,524
			Series - 2019 BA (Class A2A)

187

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	8,500,000	g,i	Octagon Investment Partners 46 Ltd		1.899	%	07/15/33	$	8,479,342
			Series - 2020 2A (Class A)
	9,500,000	†,g,h,i	OHA Credit Funding 7 Ltd		1.000		10/19/32		9,500,000
			Series - 2020 7A (Class A)
	9,255,000	g	OneMain Financial Issuance Trust		3.840		05/14/32		9,733,413
			Series - 2020 1A (Class A)
	10,000,000	g	OneMain Financial Issuance Trust		1.750		09/14/35		10,072,911
			Series - 2020 2A (Class A)
	1,158,838	g	Orange Lake Timeshare Trust		3.100		11/08/30		1,193,918
			Series - 2018 A (Class A)
	3,500,000	g	PFS Financing Corp		0.930		08/15/24		3,502,040
			Series - 2020 F (Class A)
	10,000,000	g	PFS Financing Corp		1.270		06/15/25		10,078,644
			Series - 2020 A (Class A)
	4,500,000	g	PFS Financing Corp		1.000		10/15/25		4,515,791
			Series - 2020 E (Class A)
	1,043,266	g	Pretium Mortgage Credit Partners I LLC (Step Bond)		3.844		12/27/58		1,045,328
			Series - 2019 NPL2 (Class A1)
	2,295,727	g	Progress Residential Trust		2.897		12/17/34		2,303,182
			Series - 2017 SFR2 (Class A)
	200,000	g	Progress Residential Trust		2.937		10/17/36		205,985
			Series - 2019 SFR4 (Class B)
	1,848,527	g	PRPM LLC (Step Bond)		3.967		04/25/24		1,863,947
			Series - 2019 2A (Class A1)
	820,000	i	RASC Trust		3.080		08/25/35		817,211
			Series - 2005 KS8 (Class M4)
	5,960,531	g	Renew		3.950		09/20/53		6,408,359
			Series - 2018 1 (Class A)
	7,600,000		Santander Drive Auto Receivables Trust		2.220		09/15/26		7,759,226
			Series - 2020 2 (Class D)
	4,962,500	g	SERVPRO Master Issuer LLC		3.882		10/25/49		5,228,738
			Series - 2019 1A (Class A2)
	3,779,255	g	Settlement Fee Finance LLC		3.840		11/01/49		3,737,910
			Series - 2019 1A (Class A)
	507,438	g	Sierra Timeshare Receivables Funding LLC		2.580		09/20/32		507,945
			Series - 2015 3A (Class A)
	50,744	g	Sierra Timeshare Receivables Funding LLC		3.080		09/20/32		50,718
			Series - 2015 3A (Class B)
	727,608	g	Sierra Timeshare Receivables Funding LLC		3.080		03/21/33		728,476
			Series - 2016 1A (Class A)
	1,399,725	g	Sierra Timeshare Receivables Funding LLC		2.330		07/20/33		1,406,486
			Series - 2016 2A (Class A)
	179,759	g	Sierra Timeshare Receivables Funding LLC		2.780		07/20/33		180,175
			Series - 2016 2A (Class B)
	979,406	g	Sierra Timeshare Receivables Funding LLC		2.430		10/20/33		986,609
			Series - 2016 3A (Class A)
	602,712	g	Sierra Timeshare Receivables Funding LLC		2.630		10/20/33		604,237
			Series - 2016 3A (Class B)
	3,131,032	g	Sierra Timeshare Receivables Funding LLC		2.910		03/20/34		3,184,260
			Series - 2017 1A (Class A)
	212,417	g	Sierra Timeshare Receivables Funding LLC		3.200		03/20/34		213,976
			Series - 2017 1A (Class B)
	2,567,045	g	Sierra Timeshare Receivables Funding LLC		3.650		06/20/35		2,647,651
			Series - 2018 2A (Class B)

188

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	2,237,563	g	Sierra Timeshare Receivables Funding LLC		3.200	%	01/20/36	$	2,314,637
			Series - 2019 1A (Class A)
	5,109,637	g	SMB Private Education Loan Trust		2.430		02/17/32		5,229,714
			Series - 2016 B (Class A2A)
	3,339,235	g	SMB Private Education Loan Trust		2.880		09/15/34		3,455,953
			Series - 2017 A (Class A2A)
	2,702,813	g	SMB Private Education Loan Trust		2.820		10/15/35		2,793,333
			Series - 2017 B (Class A2A)
	2,078,731	g	SoFi Professional Loan Program LLC		2.340		04/25/33		2,115,570
			Series - 2016 D (Class A2B)
	2,590,696	g	SoFi Professional Loan Program LLC		2.490		01/25/36		2,625,940
			Series - 2016 E (Class A2B)
	1,366,590	g	SoFi Professional Loan Program LLC		2.760		12/26/36		1,383,376
			Series - 2016 A (Class A2)
	1,955,681	g	SoFi Professional Loan Program LLC		2.400		03/26/40		1,978,020
			Series - 2017 A (Class A2B)
	2,991,992	g	SoFi Professional Loan Program LLC		2.740		05/25/40		3,040,247
			Series - 2017 B (Class A2FX)
	1,355,916	g	SoFi Professional Loan Program LLC		2.630		07/25/40		1,382,954
			Series - 2017 C (Class A2B)
	3,321,764	g	SoFi Professional Loan Program LLC		2.720		11/26/40		3,376,596
			Series - 2017 E (Class A2B)
	5,513,190	g	SoFi Professional Loan Program LLC		2.840		01/25/41		5,665,399
			Series - 2017 F (Class A2FX)
	3,779,149	g	SoFi Professional Loan Program LLC		2.060		05/15/46		3,815,363
			Series - 2020 A (Class A1FX)
	2,750,000	g	SoFi Professional Loan Program LLC		3.690		06/15/48		2,907,413
			Series - 2019 A (Class A2FX)
	1,358,780	g	SolarCity LMC		4.800		11/20/38		1,328,832
			Series - 2013 1 (Class A)
	1,623,877	g	SolarCity LMC		4.020		07/20/44		1,635,639
			Series - 2014 2 (Class A)
	13,838,800	g	Sonic Capital LLC		3.845		01/20/50		14,634,393
			Series - 2020 1A (Class A2I)
	10,000,000	g	SpringCastle America Funding LLC		1.970		09/25/37		10,034,104
			Series - 2020 AA (Class A)
	5,500,000	g	Stack Infrastructure Issuer LLC		1.893		08/25/45		5,535,773
			Series - 2020 1A (Class A2)
	1,336,774	g,i	Starwood Waypoint Homes		1.102		01/17/35		1,335,238
			Series - 2017 1 (Class A)
	217,033	i	Structured Asset Investment Loan Trust		1.048		09/25/34		210,668
			Series - 2004 8 (Class M1)
	1,086,483	i	Structured Asset Investment Loan Trust		1.148		09/25/34		1,074,560
			Series - 2004 8 (Class A9)
	1,838,250	g	Taco Bell Funding LLC		4.970		05/25/46		1,979,832
			Series - 2016 1A (Class A23)
	18,913,125	g	Taco Bell Funding LLC		4.318		11/25/48		19,312,381
			Series - 2018 1A (Class A2I)
	2,250,000	g	Tesla Auto Lease Trust		2.160		10/20/22		2,306,036
			Series - 2019 A (Class A3)
	4,000,000	g	Tesla Auto Lease Trust		0.680		12/20/23		4,018,303
			Series - 2020 A (Class A3)

189

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	1,000,000	g	Tesla Auto Lease Trust		0.780	%	12/20/23	$	1,006,014
			Series - 2020 A (Class A4)
	2,995,700	g	TLF National Tax Lien Trust		3.090		12/15/29		3,015,414
			Series - 2017 1A (Class A)
	457,704	g	TLF National Tax Lien Trust		3.840		12/15/29		461,432
			Series - 2017 1A (Class B)
	8,800,000		Toyota Auto Receivables Owner Trust		1.660		05/15/24		8,991,170
			Series - 2020 A (Class A3)
	3,800,000	g	Tricon American Homes Trust		4.878		11/17/33		3,796,242
			Series - 2016 SFR1 (Class E)
	527,574	g	Tricon American Homes Trust		2.716		09/17/34		536,879
			Series - 2017 SFR1 (Class A)
	2,200,000	g	Tricon American Homes Trust		4.011		09/17/34		2,229,823
			Series - 2017 SFR1 (Class E)
	99,174	g	Tricon American Homes Trust		2.928		01/17/36		102,678
			Series - 2017 SFR2 (Class A)
	500,000	g	Tricon American Homes Trust		3.275		01/17/36		517,158
			Series - 2017 SFR2 (Class B)
	18,300,000		Verizon Owner Trust		1.850		07/22/24		18,767,657
			Series - 2020 A (Class A1A)
	1,865,875	g	VOLT LXXV LLC (Step Bond)		3.967		02/25/49		1,867,178
			Series - 2019 NPL2 (Class A1)
	800,000	g	VOLT LXXV LLC (Step Bond)		3.967		10/25/49		792,128
			Series - 2019 NPL7 (Class A1B)
	2,700,000	g	VOLT LXXXIV LLC (Step Bond)		3.967		12/27/49		2,666,019
			Series - 2019 NP10 (Class A1B)
	14,213,088	g	Wendys Funding LLC		3.573		03/15/48		14,690,647
			Series - 2018 1A (Class A2I)
	8,300,000		World Omni Auto Receivables Trust		1.700		01/17/23		8,469,571
			Series - 2020 A (Class A3)
			TOTAL ASSET BACKED						553,751,179
OTHER MORTGAGE BACKED - 9.3%
	713,881	g,i	Agate Bay Mortgage Trust		3.500		11/25/44		739,277
			Series - 2014 3 (Class A13)
	390,370	g,i	Agate Bay Mortgage Trust		3.500		09/25/45		404,914
			Series - 2015 6 (Class A9)
	374,277	i	Alternative Loan Trust		0.648		06/25/34		370,898
			Series - 2004 8CB (Class M1)
	531,365	i	American Home Mortgage Investment Trust		1.815		10/25/34		535,519
			Series - 2004 3 (Class 4A)
	660,000	i	Ameriquest Mortgage Securities		1.168		10/25/34		653,237
			Series - 2004 R9 (Class M3)
	2,486,000		Banc of America Commercial Mortgage Trust		3.705		09/15/48		2,761,194
			Series - 2015 UBS7 (Class A4)
	2,885,000	i	Banc of America Commercial Mortgage Trust		4.505		09/15/48		2,789,197
			Series - 2015 UBS7 (Class C)
	1,910,000	i	Banc of America Commercial Mortgage Trust		4.505		09/15/48		2,065,346
			Series - 2015 UBS7 (Class B)
	812,333		Banc of America Commercial Mortgage Trust		1.559		07/15/49		812,356
			Series - 2016 UB10 (Class A1)
	6,000,000		Banc of America Commercial Mortgage Trust		3.366		02/15/50		6,524,408
			Series - 2017 BNK3 (Class ASB)
	5,000,000		BANK		3.731		11/15/50		5,682,289
			Series - 2017 BNK8 (Class AS)

190

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	700,000	i	BANK		4.207	%	11/15/50	$	705,150
			Series - 2017 BNK8 (Class C)
	2,500,000		BANK		3.203		12/15/52		2,769,601
			Series - 2019 BN23 (Class AS)
	7,500,000		BANK		3.289		07/15/60		8,168,842
			Series - 2017 BNK6 (Class ASB)
	2,000,000		BANK		3.283		11/15/62		2,221,140
			Series - 2019 BN24 (Class AS)
	1,200,000	g	BANK		2.500		01/15/63		952,025
			Series - 2020 BN25 (Class D)
	2,000,000	g	BBCMS Mortgage Trust		3.821		09/05/32		1,961,641
			Series - 2013 TYSN (Class C)
	1,500,000	g,i	BBCMS Mortgage Trust		4.409		08/05/38		1,026,921
			Series - 2018 CHRS (Class E)
	2,000,000	g,i	Bear Stearns Commercial Mortgage Securities Trust		5.417		02/11/41		1,652,943
			Series - 2005 PWR7 (Class E)
	1,000,000	g,i	Benchmark Mortgage Trust		2.791		09/15/48		1,067,880
			Series - 2020 IG2 (Class AM)
	2,500,000	g,i	Benchmark Mortgage Trust		3.229		09/15/48		2,736,908
			Series - 2020 IG3 (Class AS)
	2,500,000	g,i	Benchmark Mortgage Trust		3.654		09/15/48		2,625,581
			Series - 2020 IG3 (Class BXA)
	1,500,000		Benchmark Mortgage Trust		3.419		08/15/52		1,677,568
			Series - 2019 B12 (Class AS)
	1,200,000	i	Benchmark Mortgage Trust		4.510		05/15/53		1,464,671
			Series - 2018 B7 (Class A4)
	1,500,000		Benchmark Mortgage Trust		3.231		12/15/72		1,658,676
			Series - 2019 B15 (Class AS)
	949,298	g,i	BX Commercial Mortgage Trust		1.072		10/15/36		949,013
			Series - 2019 XL (Class A)
	5,000,000	i	CD Mortgage Trust		3.879		11/10/49		5,424,136
			Series - 2016 CD2 (Class B)
	3,030,000	i	CD Mortgage Trust		4.158		11/10/49		2,946,316
			Series - 2016 CD2 (Class C)
	9,320,000		CD Mortgage Trust		3.453		02/10/50		10,150,888
			Series - 2017 CD3 (Class AAB)
	2,000,000	i	CD Mortgage Trust		4.711		02/10/50		1,994,297
			Series - 2017 CD3 (Class C)
	5,000,000	i	CD Mortgage Trust		3.684		08/15/50		5,594,998
			Series - 2017 CD5 (Class AS)
	3,000,000		CD Mortgage Trust		2.812		08/15/57		3,316,559
			Series - 2019 CD8 (Class ASB)
	49,875	g,i	CF Mortgage Trust		2.840		04/15/25		51,145
			Series - 2020 P1 (Class A1)
	1,750,000	g,i	CF Mortgage Trust		3.603		04/15/52		1,755,945
			Series - 2020 P1 (Class A2)
	320,940	i	CHL Mortgage Pass-Through Trust		3.597		02/20/35		319,035
			Series - 2004 HYB9 (Class 1A1)
	1,750,000	g,i	Citigroup Commercial Mortgage Trust		3.635		05/10/35		1,796,453
			Series - 2013 375P (Class B)
	5,000,000	g	Citigroup Commercial Mortgage Trust		3.341		05/10/36		5,319,633
			Series - 2019 PRM (Class A)

191

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	2,000,000	g	Citigroup Commercial Mortgage Trust		3.896	%	05/10/36	$	2,086,734
			Series - 2019 PRM (Class C)
	500,000	i	Citigroup Commercial Mortgage Trust		3.758		04/10/48		527,376
			Series - 2015 GC29 (Class B)
	6,000,000	g,i	COMM Mortgage Trust		3.712		10/10/29		6,255,917
			Series - 2017 PANW (Class C)
	6,863,085		COMM Mortgage Trust		2.853		10/15/45		7,068,954
			Series - 2012 CR4 (Class A3)
	1,500,000	g,i	COMM Mortgage Trust		4.949		08/10/46		1,500,213
			Series - 2013 CR10 (Class C)
	1,000,000	g,i	COMM Mortgage Trust		5.463		08/10/46		817,285
			Series - 2013 LC13 (Class D)
	1,135,000		COMM Mortgage Trust		4.199		03/10/47		1,235,020
			Series - 2014 UBS2 (Class AM)
	1,300,384		COMM Mortgage Trust		4.701		03/10/47		1,380,362
			Series - 2014 UBS2 (Class B)
	750,000		COMM Mortgage Trust		4.174		05/10/47		815,675
			Series - 2014 CR17 (Class AM)
	463,000	i	COMM Mortgage Trust		4.882		07/15/47		449,493
			Series - 2014 CR18 (Class C)
	1,500,000	i	COMM Mortgage Trust		4.868		08/10/47		1,536,833
			Series - 2014 CR19 (Class C)
	6,400,000		COMM Mortgage Trust		3.917		10/10/47		7,018,755
			Series - 2014 LC17 (Class A5)
	2,000,000	i	COMM Mortgage Trust		4.188		10/10/47		2,195,635
			Series - 2014 LC17 (Class AM)
	1,853,428		COMM Mortgage Trust		3.040		02/10/48		1,937,367
			Series - 2015 LC19 (Class ASB)
	1,000,000	i	COMM Mortgage Trust		3.829		02/10/48		1,072,870
			Series - 2015 LC19 (Class B)
	1,500,000	g	COMM Mortgage Trust		3.000		03/10/48		967,997
			Series - 2015 CR22 (Class E)
	575,000	i	COMM Mortgage Trust		3.603		03/10/48		625,760
			Series - 2015 CR22 (Class AM)
	1,000,000	i	COMM Mortgage Trust		4.244		03/10/48		1,014,050
			Series - 2015 CR22 (Class C)
	2,000,000	g,i	COMM Mortgage Trust		4.244		03/10/48		1,750,684
			Series - 2015 CR22 (Class D)
	5,000,000		COMM Mortgage Trust		3.801		05/10/48		5,495,149
			Series - 2015 CR23 (Class AM)
	3,826,295	i	COMM Mortgage Trust		4.183		05/10/48		4,138,856
			Series - 2015 CR23 (Class B)
	1,250,000	i	COMM Mortgage Trust		4.435		05/10/48		1,258,259
			Series - 2015 CR23 (Class C)
	3,000,000	i	COMM Mortgage Trust		4.435		05/10/48		2,593,848
			Series - 2015 CR23 (Class D)
	2,608,856		COMM Mortgage Trust		3.432		08/10/48		2,873,203
			Series - 2015 CR24 (Class A4)
	1,500,000	i	COMM Mortgage Trust		3.463		08/10/48		1,254,176
			Series - 2015 CR24 (Class D)
	3,640,000	i	COMM Mortgage Trust		4.028		08/10/48		4,025,132
			Series - 2015 CR24 (Class AM)
	1,500,000	i	COMM Mortgage Trust		4.524		08/10/48		1,501,259
			Series - 2015 CR24 (Class C)

192

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	1,500,000	i	COMM Mortgage Trust		4.524	%	08/10/48	$	1,617,590
			Series - 2015 CR24 (Class B)
	2,250,000	i	COMM Mortgage Trust		4.689		08/10/48		2,381,476
			Series - 2015 CR25 (Class B)
	7,600,000		COMM Mortgage Trust		3.630		10/10/48		8,487,326
			Series - 2015 CR26 (Class A4)
	1,000,000		COMM Mortgage Trust		3.984		10/10/48		1,109,286
			Series - 2015 CR27 (Class AM)
	3,000,000	i	COMM Mortgage Trust		4.491		10/10/48		3,279,068
			Series - 2015 CR27 (Class B)
	1,000,000	i	COMM Mortgage Trust		4.630		10/10/48		1,080,248
			Series - 2015 CR26 (Class B)
	500,000	i	COMM Mortgage Trust		4.630		10/10/48		507,987
			Series - 2015 CR26 (Class C)
	2,400,000	i	COMM Mortgage Trust		4.791		10/10/48		2,396,704
			Series - 2015 LC23 (Class C)
	1,080,000		COMM Mortgage Trust		3.762		02/10/49		1,214,825
			Series - 2016 CR28 (Class A4)
	5,000,000	i	COMM Mortgage Trust		4.794		02/10/49		5,407,670
			Series - 2016 CR28 (Class B)
	1,500,000	i	COMM Mortgage Trust		5.278		08/10/50		1,587,561
			Series - 2013 CR11 (Class B)
	5,000,000		COMM Mortgage Trust		3.263		08/15/57		5,564,200
			Series - 2019 GC44 (Class AM)
	3,814,037	i	Connecticut Avenue Securities		2.748		05/25/24		3,338,371
			Series - 2014 C02 (Class 1M2)
	252,427	i	Connecticut Avenue Securities		3.048		07/25/24		248,000
			Series - 2014 C03 (Class 2M2)
	9,120,159	i	Connecticut Avenue Securities		3.148		07/25/24		7,969,272
			Series - 2014 C03 (Class 1M2)
	932,538	i	Connecticut Avenue Securities		5.148		11/25/24		953,136
			Series - 2014 C04 (Class 2M2)
	549,360	i	Connecticut Avenue Securities		5.698		04/25/28		563,860
			Series - 2015 C04 (Class 2M2)
	912,657	i	Connecticut Avenue Securities		5.848		04/25/28		944,732
			Series - 2015 C04 (Class 1M2)
	2,075,132	i	Connecticut Avenue Securities		6.898		08/25/28		2,153,407
			Series - 2016 C01 (Class 1M2)
	302,797	i	Connecticut Avenue Securities		6.148		09/25/28		320,434
			Series - 2016 C02 (Class 1M2)
	1,186,345	i	Connecticut Avenue Securities		6.048		10/25/28		1,253,277
			Series - 2016 C03 (Class 2M2)
	998,719	i	Connecticut Avenue Securities		4.598		01/25/29		1,030,313
			Series - 2016 C05 (Class 2M2)
	2,255,147	i	Connecticut Avenue Securities		4.398		04/25/29		2,306,130
			Series - 2016 C06 (Class 1M2)
	2,159,961	i	Connecticut Avenue Securities		0.998		09/25/29		1,986,546
			Series - 2017 C02 (Class 2ED4)
	525,023	i	Connecticut Avenue Securities		2.348		01/25/30		527,655
			Series - 2017 C05 (Class 1M2A)
	4,000,000	i	Connecticut Avenue Securities		0.598		07/25/30		3,948,820
			Series - 2018 C01 (Class 1EB1)

193

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	191,149	i	Connecticut Avenue Securities		2.398	%	07/25/30	$	188,632
			Series - 2018 C01 (Class 1M2)
	950,627	i	Connecticut Avenue Securities		0.998		10/25/30		945,120
			Series - 2018 C03 (Class 1EA2)
	172,413	g,i	Connecticut Avenue Securities		2.598		07/25/31		171,333
			Series - 2019 R01 (Class 2M2)
	519,626	g,i	Connecticut Avenue Securities		2.248		09/25/39		515,409
			Series - 2019 R06 (Class 2M2)
	1,862,632	g,i	Connecticut Avenue Securities		0.898		01/25/40		1,857,900
			Series - 2020 R02 (Class 2M1)
	80,337	g,i	Connecticut Avenue Securities		0.948		01/25/40		80,004
			Series - 2020 R01 (Class 1M1)
	1,000,000	g,i	CPT Mortgage Trust		3.097		11/13/39		942,223
			Series - 2019 CPT (Class E)
	1,360,000	g,i	Credit Suisse Commercial Mortgage Trust		0.798		05/25/36		1,357,097
			Series - 2006 CF2 (Class M3)
	4,270,111	g,i	Credit Suisse Commercial Mortgage Trust		3.500		02/25/48		4,431,283
			Series - 2018 J1 (Class A11)
	3,000,000	g,i	Credit Suisse Mortgage Capital Certificates		1.752		05/15/36		2,969,886
			Series - 2019 ICE4 (Class D)
	4,000,000		CSAIL Commercial Mortgage Trust		3.314		11/15/49		4,259,168
			Series - 2016 C7 (Class ASB)
	4,750,000		DBGS Mortgage Trust		4.466		10/15/51		5,725,377
			Series - 2018 C1 (Class A4)
	5,000,000		DBJPMortgage Trust		2.340		09/15/53		5,196,397
			Series - 2020 C9 (Class AM)
	1,040,000	g	DBUBS Mortgage Trust		3.452		10/10/34		1,114,860
			Series - 2017 BRBK (Class A)
	5,600,000	g,i	DBUBS Mortgage Trust		5.670		07/10/44		5,154,990
			Series - 2011 LC2A (Class D)
	3,892,000	g,i	DBUBS Mortgage Trust		5.790		11/10/46		3,889,854
			Series - 2011 LC1A (Class E)
	4,000,000	g,i	DBUBS Mortgage Trust		5.790		11/10/46		4,007,210
			Series - 2011 LC1A (Class C)
	1,100,000	g,i	Ellington Financial Mortgage Trust		3.587		06/25/59		1,098,941
			Series - 2019 1 (Class M1)
	1,060,603	i	Fieldstone Mortgage Investment Trust		0.883		12/25/35		1,053,820
			Series - 2005 2 (Class M2)
	3,422,596	g,i	FirstKey Mortgage Trust		3.500		11/25/44		3,530,431
			Series - 2014 1 (Class A8)
	2,324,965	g,i	Flagstar Mortgage Trust		3.500		03/25/47		2,352,297
			Series - 2017 1 (Class 1A5)
	98,783	g,i	Flagstar Mortgage Trust		3.500		10/25/47		99,112
			Series - 2017 2 (Class A5)
	1,314,106	g,i	Flagstar Mortgage Trust		4.102		10/25/47		1,369,351
			Series - 2017 2 (Class B3)
	717,113	g,i	Flagstar Mortgage Trust		4.000		09/25/48		734,727
			Series - 2018 5 (Class A11)
	7,000,000	g	GRACE Mortgage Trust		3.369		06/10/28		7,042,566
			Series - 2014 GRCE (Class A)
	10,500,000	g	GS Mortgage Securities Corp II		3.419		10/10/32		10,709,920
			Series - 2017 SLP (Class A)
	1,344,000	g	GS Mortgage Securities Corp II		3.551		04/10/34		1,354,819
			Series - 2012 ALOH (Class A)

194

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	2,590,000	i	GS Mortgage Securities Corp II		3.777	%	05/10/50	$	2,827,321
			Series - 2015 GC30 (Class AS)
	3,010,000	i	GS Mortgage Securities Corp II		3.992		03/10/51		3,509,469
			Series - 2018 GS9 (Class A4)
	1,500,000	i	GS Mortgage Securities Corp II		4.155		07/10/51		1,762,923
			Series - 2018 GS10 (Class A5)
	2,000,000	g,i	GS Mortgage Securities Trust		1.602		07/15/31		1,890,653
			Series - 2018 TWR (Class C)
	395,431		GS Mortgage Securities Trust		1.478		05/10/49		395,513
			Series - 2016 GS2 (Class A1)
	8,000,000		GS Mortgage Securities Trust		3.467		03/10/50		8,714,004
			Series - 2017 GS5 (Class AAB)
	8,350,951		GS Mortgage Securities Trust		3.674		03/10/50		9,522,306
			Series - 2017 GS5 (Class A4)
	1,000,000	i	GS Mortgage Securities Trust		4.047		03/10/50		1,105,431
			Series - 2017 GS5 (Class B)
	4,000,000		GS Mortgage Securities Trust		3.433		05/10/50		4,512,174
			Series - 2017 GS6 (Class A3)
	3,000,000	i	GS Mortgage Securities Trust		4.213		05/10/50		2,832,649
			Series - 2015 GC30 (Class C)
	3,000,000		GS Mortgage Securities Trust		3.837		11/10/50		3,429,201
			Series - 2017 GS8 (Class ABP)
	2,000,000	g	GS Mortgage Securities Trust		3.000		02/10/52		1,762,834
			Series - 2019 GC38 (Class D)
	1,000,000	g,i	GS Mortgage Securities Trust		3.668		07/10/52		1,020,510
			Series - 2019 GC40 (Class DBC)
	1,396,659	g,i	GS Mortgage-Backed Securities Corp Trust		4.000		11/25/49		1,436,825
			Series - 2019 PJ2 (Class A1)
	3,645,580	g,i	GS Mortgage-Backed Securities Corp Trust		4.000		11/25/49		3,736,106
			Series - 2019 PJ2 (Class A4)
	4,068,622	g,i	GS Mortgage-Backed Securities Corp Trust		3.500		07/25/50		4,130,721
			Series - 2020 PJ2 (Class A4)
	1,425,713	i	HarborView Mortgage Loan Trust		0.776		08/19/45		1,373,539
			Series - 2005 11 (Class 2A1A)
	2,000,000	g	Hudson Yards Mortgage Trust		2.835		08/10/38		2,147,442
			Series - 2016 10HY (Class A)
	3,000,000	g,i	Hudson Yards Mortgage Trust		3.076		08/10/38		3,174,525
			Series - 2016 10HY (Class B)
	3,500,000	g,i	Hudson Yards Mortgage Trust		3.076		08/10/38		3,644,734
			Series - 2016 10HY (Class C)
	4,700,000	g,i	Hudson Yards Mortgage Trust		3.041		12/10/41		4,649,119
			Series - 2019 55HY (Class D)
	2,750,000	g,i	Hudson Yards Mortgage Trust		3.041		12/10/41		2,567,945
			Series - 2019 55HY (Class E)
	144,569	i	Impac CMB Trust		0.808		03/25/35		141,122
			Series - 2004 11 (Class 2A1)
	1,700,000	g,i	JP Morgan Chase Commercial Mortgage Securities Corp		4.214		01/15/46		1,664,685
			Series - 2013 C13 (Class D)
	1,500,000		JP Morgan Chase Commercial Mortgage Securities Corp		4.166		12/15/46		1,635,566
			Series - 2013 C16 (Class A4)

195

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	800,000		JP Morgan Chase Commercial Mortgage Securities Corp		3.372	%	12/15/47	$	834,816
			Series - 2013 C10 (Class AS)
	750,000	i	JP Morgan Chase Commercial Mortgage Securities Corp		4.119		01/15/49		840,032
			Series - 2015 JP1 (Class AS)
	500,000		JP Morgan Chase Commercial Mortgage Securities Corp		3.379		09/15/50		531,867
			Series - 2017 JP7 (Class A3)
	1,905,742	g,i	JP Morgan Mortgage Trust		2.140		12/25/44		1,936,397
			Series - 2015 1 (Class B1)
	291,284	g,i	JP Morgan Mortgage Trust		3.500		05/25/45		299,905
			Series - 2015 3 (Class A19)
	1,307,881	g,i	JP Morgan Mortgage Trust		3.500		10/25/45		1,355,182
			Series - 2015 6 (Class A13)
	333,070	g,i	JP Morgan Mortgage Trust		3.500		05/25/46		335,038
			Series - 2016 1 (Class A5)
	582,910	g,i	JP Morgan Mortgage Trust		3.500		05/25/46		597,624
			Series - 2016 1 (Class A13)
	275,266	g,i	JP Morgan Mortgage Trust		3.500		01/25/47		282,669
			Series - 2017 1 (Class A3)
	4,412,139	g,i	JP Morgan Mortgage Trust		3.500		05/25/47		4,518,283
			Series - 2017 2 (Class A13)
	108,385	g,i	JP Morgan Mortgage Trust		3.500		08/25/47		108,805
			Series - 2017 3 (Class 1A5)
	1,143,354	g,i	JP Morgan Mortgage Trust		3.500		09/25/48		1,189,324
			Series - 2018 3 (Class A13)
	362,658	g,i	JP Morgan Mortgage Trust		3.500		10/25/48		379,137
			Series - 2018 4 (Class A13)
	1,501,849	g,i	JP Morgan Mortgage Trust		3.500		10/25/48		1,570,202
			Series - 2018 5 (Class A13)
	1,014,320	g,i	JP Morgan Mortgage Trust		3.500		10/25/48		1,031,705
			Series - 2018 4 (Class A5)
	247,051	g,i	JP Morgan Mortgage Trust		4.000		01/25/49		248,022
			Series - 2018 8 (Class A5)
	770,939	g,i	JP Morgan Mortgage Trust		4.000		01/25/49		790,312
			Series - 2018 8 (Class A13)
	702,328	g,i	JP Morgan Mortgage Trust		4.000		02/25/49		719,899
			Series - 2018 9 (Class A13)
	806,960	g,i	JP Morgan Mortgage Trust		4.000		05/25/49		830,977
			Series - 2019 1 (Class A3)
	1,247,066	g,i	JP Morgan Mortgage Trust		4.781		09/25/49		1,330,378
			Series - 2019 3 (Class B1)
	3,712,643	g,i	JP Morgan Mortgage Trust		1.098		10/25/49		3,708,189
			Series - 2019 INV1 (Class A11)
	51,959	g,i	JP Morgan Mortgage Trust		4.000		11/25/49		52,335
			Series - 2019 5 (Class A4)
	3,774,385	g,i	JP Morgan Mortgage Trust		3.877		06/25/50		3,975,349
			Series - 2020 1 (Class B2)
	1,000,000	i	JPMBB Commercial Mortgage Securities Trust		4.133		08/15/46		1,080,396
			Series - 2013 C14 (Class A4)
	4,364,171		JPMBB Commercial Mortgage Securities Trust		3.493		08/15/47		4,604,005
			Series - 2014 C21 (Class A4)
	2,640,000		JPMBB Commercial Mortgage Securities Trust		3.775		08/15/47		2,891,529
			Series - 2014 C21 (Class A5)

196

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	1,000,000		JPMBB Commercial Mortgage Securities Trust		3.898	%	02/15/48	$	1,058,390
			Series - 2015 C27 (Class B)
	1,000,000	i	JPMBB Commercial Mortgage Securities Trust		4.445		02/15/48		999,877
			Series - 2015 C27 (Class C)
	2,000,000	i	JPMBB Commercial Mortgage Securities Trust		3.917		05/15/48		2,199,621
			Series - 2015 C29 (Class AS)
	1,600,000	i	JPMBB Commercial Mortgage Securities Trust		4.118		05/15/48		1,662,292
			Series - 2015 C29 (Class B)
	3,000,000		JPMBB Commercial Mortgage Securities Trust		4.106		08/15/48		3,331,941
			Series - 2015 C31 (Class AS)
	5,585,000	i	JPMBB Commercial Mortgage Securities Trust		4.773		08/15/48		6,140,775
			Series - 2015 C31 (Class B)
	1,400,000		JPMBB Commercial Mortgage Securities Trust		3.227		10/15/48		1,520,239
			Series - 2015 C28 (Class A4)
	1,400,000		JPMBB Commercial Mortgage Securities Trust		4.023		12/15/48		1,555,012
			Series - 2015 C33 (Class AS)
	10,425,000		JPMBB Commercial Mortgage Securities Trust		3.576		03/15/49		11,670,389
			Series - 2016 C1 (Class A5)
	1,700,000		JPMCC Commercial Mortgage Securities Trust		3.457		03/15/50		1,908,412
			Series - 2017 JP5 (Class A4)
	6,000,000		JPMDB Commercial Mortgage Securities Trust		2.536		05/13/53		6,356,437
			Series - 2020 COR7 (Class AS)
	1,880,013	g	Ladder Capital Commercial Mortgage Securities		3.575		02/15/36		1,996,879
			Series - 2013 GCP (Class A1)
	3,298,786	g	LSTAR Commercial Mortgage Trust		2.579		03/10/49		3,351,960
			Series - 2016 4 (Class A2)
	12,000,000	g,i	MAD Mortgage Trust		3.294		08/15/34		12,457,868
			Series - 2017 330M (Class A)
	1,500,000	g,i	Manhattan West		2.413		09/10/39		1,535,962
			Series - 2020 1MW (Class B)
	3,000,000	g,i	Manhattan West		2.413		09/10/39		2,991,106
			Series - 2020 1MW (Class C)
	2,775,986	i	Merrill Lynch Mortgage Investors Trust		2.278		01/25/37		2,634,024
			Series - 2006 WMC1 (Class A1B)
	5,000,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.476		11/15/45		5,179,812
			Series - 2012 C6 (Class AS)
	2,996,783	g	Morgan Stanley Bank of America Merrill Lynch Trust		3.989		12/15/46		3,111,312
			Series - 2014 C19 (Class LNC1)
	2,603,840	g	Morgan Stanley Bank of America Merrill Lynch Trust		4.384		12/15/46		2,665,866
			Series - 2014 C19 (Class LNC2)
	1,570,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.832		12/15/47		1,706,411
			Series - 2014 C19 (Class AS)
	123,128		Morgan Stanley Bank of America Merrill Lynch Trust		3.069		02/15/48		129,006
			Series - 2015 C20 (Class ASB)
	1,000,000		Morgan Stanley Bank of America Merrill Lynch Trust		4.160		02/15/48		1,048,037
			Series - 2015 C20 (Class B)

197

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	2,500,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.338	%	03/15/48	$	2,726,451
			Series - 2015 C21 (Class A4)
	3,649,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.306		04/15/48		3,961,171
			Series - 2015 C22 (Class A4)
	3,360,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.561		04/15/48		3,630,824
			Series - 2015 C22 (Class AS)
	421,906	i	Morgan Stanley Capital I Trust		0.973		08/25/34		419,062
			Series - 2004 HE6 (Class M1)
	2,880,510	i	Morgan Stanley Capital I Trust		6.215		06/11/42		2,885,203
			Series - 2007 T27 (Class AJ)
	3,000,000	g	Morgan Stanley Capital I Trust		4.193		09/15/47		2,851,351
			Series - 2011 C1 (Class F)
	435,000	g,i	Morgan Stanley Capital I Trust		5.375		09/15/47		436,775
			Series - 2011 C1 (Class B)
	2,600,000	g,i	Morgan Stanley Capital I Trust		5.675		09/15/47		2,607,531
			Series - 2011 C1 (Class D)
	13,000,000		Morgan Stanley Capital I Trust		2.606		08/15/49		13,714,492
			Series - 2016 UB11 (Class ASB)
	418,729	†,i	Morgan Stanley Capital I Trust		6.467		12/12/49		249,563
			Series - 2007 IQ16 (Class AJ)
	1,300,000		Morgan Stanley Capital I Trust		3.587		12/15/50		1,472,739
			Series - 2017 HR2 (Class A4)
	1,000,000		Morgan Stanley Capital I Trust		4.177		07/15/51		1,187,049
			Series - 2018 H3 (Class A5)
	1,500,000	g,i	MSDB Trust		3.427		07/11/39		1,605,940
			Series - 2017 712F (Class A)
	5,300,000	g,i	Natixis Commercial Mortgage Securities Trust		1.652		07/15/36		5,247,089
			Series - 2019 MILE (Class A)
	2,500,000	g,i	Natixis Commercial Mortgage Securities Trust		1.952		07/15/36		2,425,445
			Series - 2019 MILE (Class B)
	1,000,000	g	Natixis Commercial Mortgage Securities Trust		2.707		10/15/36		1,005,867
			Series - 2019 1776 (Class B)
	2,000,000	g	Natixis Commercial Mortgage Securities Trust		2.966		12/15/38		2,085,683
			Series - 2020 2PAC (Class A)
	320,026	g,i	New Residential Mortgage Loan Trust		4.000		02/25/57		346,703
			Series - 2017 1A (Class A1)
	325,836	g,i	New Residential Mortgage Loan Trust		4.000		08/27/57		351,192
			Series - 2017 6A (Class A1)
	363,578	g,i	New Residential Mortgage Loan Trust		4.750		12/25/57		391,236
			Series - 2018 5A (Class A1)
	291,038	i	New York Mortgage Trust		0.628		02/25/36		283,944
			Series - 2005 3 (Class A1)
	991,291	g,i	OBX Trust		0.798		06/25/57		989,804
			Series - 2018 1 (Class A2)
	1,009,217	g,i	OBX Trust		0.898		07/25/58		1,004,697
			Series - 2018 EXP2 (Class 2A1A)
	18,445,000	g	One Market Plaza Trust		3.614		02/10/32		19,090,413
			Series - 2017 1MKT (Class A)
	1,000,000	g	RBS Commercial Funding, Inc Trust		3.511		03/11/31		904,015
			Series - 2013 SMV (Class B)
	1,058,255	g,i	Sequoia Mortgage Trust		3.500		05/25/45		1,094,780
			Series - 2015 2 (Class A1)

198

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	727,611	g,i	Sequoia Mortgage Trust		3.500	%	11/25/46	$	742,464
			Series - 2016 3 (Class A10)
	3,271,427	g,i	Sequoia Mortgage Trust		3.500		02/25/47		3,313,513
			Series - 2017 2 (Class A4)
	865,714	g,i	Sequoia Mortgage Trust		3.500		02/25/47		899,238
			Series - 2017 2 (Class A19)
	103,231	g,i	Sequoia Mortgage Trust		3.500		02/25/47		104,089
			Series - 2017 1 (Class A4)
	4,645,542	g,i	Sequoia Mortgage Trust		3.500		04/25/47		4,706,829
			Series - 2017 3 (Class A4)
	73,543	g,i	Sequoia Mortgage Trust		3.500		04/25/47		76,386
			Series - 2017 3 (Class A19)
	146,254	g,i	Sequoia Mortgage Trust		3.500		09/25/47		147,058
			Series - 2017 6 (Class A4)
	903,766	g,i	Sequoia Mortgage Trust		3.743		09/25/47		955,687
			Series - 2017 6 (Class B1)
	2,244,538	g,i	Sequoia Mortgage Trust		3.500		02/25/48		2,309,404
			Series - 2018 2 (Class A1)
	3,367,796	g,i	Sequoia Mortgage Trust		3.500		03/25/48		3,472,097
			Series - 2018 3 (Class A1)
	404,572	g,i	Sequoia Mortgage Trust		3.500		03/25/48		405,538
			Series - 2018 3 (Class A4)
	302,139	g,i	Sequoia Mortgage Trust		4.000		09/25/48		302,268
			Series - 2018 7 (Class A4)
	453,759	g,i	Sequoia Mortgage Trust		4.000		09/25/48		461,329
			Series - 2018 7 (Class A19)
	213,193	g,i	Sequoia Mortgage Trust		4.000		11/25/48		215,782
			Series - 2018 8 (Class A19)
	2,707,943	g,i	Sequoia Mortgage Trust		4.000		06/25/49		2,761,206
			Series - 2019 2 (Class A1)
	939,961	g,i	Sequoia Mortgage Trust		4.000		06/25/49		952,897
			Series - 2019 2 (Class A19)
	5,866,532	g,i	Sequoia Mortgage Trust		3.500		11/25/49		6,051,166
			Series - 2019 4 (Class A1)
	9,954,268	g,i	Sequoia Mortgage Trust		3.500		12/25/49		10,226,423
			Series - 2019 5 (Class A1)
	5,747,738	g,i	Sequoia Mortgage Trust		3.500		12/25/49		5,832,405
			Series - 2019 5 (Class A19)
	6,295,044	g,i	Sequoia Mortgage Trust		3.000		04/25/50		6,438,114
			Series - 2020 3 (Class A19)
	203,533	g,i	Shellpoint Co-Originator Trust		3.500		11/25/46		206,388
			Series - 2016 1 (Class 1A10)
	855,715	g,i	Shellpoint Co-Originator Trust		3.500		04/25/47		884,011
			Series - 2017 1 (Class A19)
	228,591	i	Structured Agency Credit Risk Debt Note (STACR)		4.298		01/25/25		229,169
			Series - 2015 DN1 (Class M3)
	376,861	i	STACR		3.948		03/25/25		378,695
			Series - 2015 HQ1 (Class M3)
	434,300	i	STACR		2.098		05/25/25		434,300
			Series - 2015 HQ2 (Class M2)
	2,675,448	i	STACR		4.798		10/25/28		2,779,298
			Series - 2016 DNA2 (Class M3)

199

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	9,489,209	i	STACR		3.398	%	07/25/29	$	9,717,718
			Series - 2017 DNA1 (Class M2)
	704,003	i	STACR		1.348		10/25/29		704,003
			Series - 2017 DNA2 (Class M1)
	431,638	i	STACR		1.948		07/25/30		424,091
			Series - 2018 DNA1 (Class M2)
	800,109	i	STACR		2.472		08/25/30		787,024
			Series - 2018 HQA1 (Class M2)
	195,249	g,i	STACR		3.721		02/25/48		196,281
			Series - 2018 SPI1 (Class M1)
	980,832	g,i	STACR		4.473		11/25/48		975,147
			Series - 2018 SPI4 (Class M2)
	1,505,326	g,i	STACR		2.198		11/25/49		1,485,642
			Series - 2019 HQA4 (Class M2)
	800,000	g,i	STACR		1.848		12/25/49		782,590
			Series - 2020 DNA1 (Class M2)
	1,770,000	g,i	STACR		1.998		02/25/50		1,723,160
			Series - 2020 DNA2 (Class M2)
	2,255,000	g,i	STACR		3.248		03/25/50		2,221,095
			Series - 2020 HQA2 (Class M2)
	348,851	g,i	STACR		1.248		07/27/50		348,502
			Series - 2020 HQA2 (Class M1)
	650,000	g	Tricon American Homes		2.049		07/17/38		661,874
			Series - 2020 SFR1 (Class B)
	2,000,000	g,i	UBS-Barclays Commercial Mortgage Trust		3.875		04/10/46		1,972,782
			Series - 2013 C6 (Class B)
	3,285,000	g	UBS-Citigroup Commercial Mortgage Trust		5.154		01/10/45		3,402,345
			Series - 2011 C1 (Class AS)
	1,975,617	g	VSE VOI Mortgage LLC		2.330		03/20/35		2,005,527
			Series - 2017 A (Class A)
	1,765,775	g	VSE VOI Mortgage LLC		4.020		02/20/36		1,763,982
			Series - 2018 A (Class C)
	8,200,000		Wells Fargo Commercial Mortgage Trust		3.539		10/15/45		8,520,697
			Series - 2012 LC5 (Class AS)
	1,222,000		Wells Fargo Commercial Mortgage Trust		3.540		05/15/48		1,346,791
			Series - 2015 C28 (Class A4)
	2,100,000	i	Wells Fargo Commercial Mortgage Trust		3.658		05/15/48		2,168,899
			Series - 2015 NXS1 (Class B)
	2,000,000	i	Wells Fargo Commercial Mortgage Trust		4.285		05/15/48		1,888,806
			Series - 2015 NXS1 (Class D)
	350,000		Wells Fargo Commercial Mortgage Trust		3.637		06/15/48		388,430
			Series - 2015 C29 (Class A4)
	5,055,000		Wells Fargo Commercial Mortgage Trust		2.825		10/15/49		5,348,453
			Series - 2016 LC24 (Class ASB)
	1,797,904		Wells Fargo Commercial Mortgage Trust		2.749		03/15/50		1,828,385
			Series - 2017 RB1 (Class A2)
	387,000		Wells Fargo Commercial Mortgage Trust		3.635		03/15/50		441,061
			Series - 2017 RB1 (Class A5)
	2,000,000		Wells Fargo Commercial Mortgage Trust		3.757		03/15/50		2,239,117
			Series - 2017 RB1 (Class AS)
	2,900,000		Wells Fargo Commercial Mortgage Trust		3.184		04/15/50		3,137,163
			Series - 2015 LC20 (Class A5)
	1,720,000		Wells Fargo Commercial Mortgage Trust		3.467		04/15/50		1,849,655
			Series - 2015 LC20 (Class AS)

200

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	2,800,000		Wells Fargo Commercial Mortgage Trust		3.453	%	07/15/50	$	3,168,702
			Series - 2017 C38 (Class A5)
	3,290,000		Wells Fargo Commercial Mortgage Trust		4.302		01/15/52		3,911,371
			Series - 2018 C48 (Class A5)
	2,500,000	i	Wells Fargo Commercial Mortgage Trust		3.972		09/15/57		2,767,312
			Series - 2015 NXS3 (Class AS)
	2,500,000	i	Wells Fargo Commercial Mortgage Trust		3.767		07/15/58		2,779,046
			Series - 2015 NXS2 (Class A5)
	2,700,000		Wells Fargo Commercial Mortgage Trust		3.952		01/15/59		3,004,535
			Series - 2016 C32 (Class AS)
	1,500,000	i	Wells Fargo Commercial Mortgage Trust		4.884		01/15/59		1,633,518
			Series - 2016 C32 (Class B)
	1,000,000		Wells Fargo Commercial Mortgage Trust		2.933		11/15/59		1,062,593
			Series - 2016 C36 (Class ASB)
	1,335,398	g,i	Wells Fargo Mortgage Backed Securities Trust		4.000		04/25/49		1,353,463
			Series - 2019 2 (Class A17)
	6,381,377	g,i	Wells Fargo Mortgage Backed Securities Trust		3.500		09/25/49		6,569,699
			Series - 2019 4 (Class A1)
	1,000,000		WFRBS Commercial Mortgage Trust		3.345		05/15/45		1,045,865
			Series - 2013 C13 (Class AS)
	3,700,000	i	WFRBS Commercial Mortgage Trust		4.079		03/15/46		4,017,452
			Series - 2013 UBS1 (Class A4)
	1,000,000	i	WFRBS Commercial Mortgage Trust		4.162		12/15/46		1,092,763
			Series - 2013 C18 (Class A5)
	1,664,000	i	WFRBS Commercial Mortgage Trust		4.845		12/15/46		1,553,810
			Series - 2013 C18 (Class C)
	2,225,281		WFRBS Commercial Mortgage Trust		3.995		05/15/47		2,403,842
			Series - 2014 C20 (Class A5)
			TOTAL OTHER MORTGAGE BACKED						701,163,369
			TOTAL STRUCTURED ASSETS						1,254,914,548
			(Cost $1,239,015,718)
			TOTAL BONDS						7,191,282,635
			(Cost $6,837,805,674)
SHORT-TERM INVESTMENTS - 15.8%
GOVERNMENT AGENCY DEBT - 5.7%
	13,000,000		Federal Agricultural Mortgage Corp (FAMC)		0.000		10/30/20		12,999,372
	16,800,000		Federal Home Loan Bank (FHLB)		0.083-0.085		10/07/20		16,799,832
	50,012,000		FHLB		0.095-0.115		10/21/20		50,010,333
	20,633,000		FHLB		0.070-0.095		10/28/20		20,632,072
	25,000,000		FHLB		0.080		10/30/20		24,998,792
	25,000,000		FHLB		0.100		11/10/20		24,998,055
	30,429,000		FHLB		0.090-0.108		11/13/20		30,426,456
	24,855,000		FHLB		0.095		11/25/20		24,852,342
	12,600,000		FHLB		0.085-0.100		11/27/20		12,598,604

201

TIAA-CREF FUNDS – Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	42,160,000		FHLB		0.085-0.100	%	12/02/20	$	42,153,465
	17,140,000		FHLB		0.110		12/18/20		17,136,658
	25,000,000		FHLB		0.094		12/23/20		24,994,812
	38,745,000		FHLB		0.110		02/12/21		38,730,578
	23,200,000		FHLB		0.100-0.115		03/03/21		23,190,140
	26,326,000		FHLB		0.110-0.120		03/05/21		26,314,665
	25,000,000		Federal National Mortgage Association (FNMA)		0.133		10/07/20		24,999,750
	20,000,000		FNMA		0.200		10/16/20		19,999,500
			TOTAL GOVERNMENT AGENCY DEBT						435,835,426
REPURCHASE AGREEMENT - 1.0%
	73,945,000	r	Fixed Income Clearing Corp (FICC)		0.070		10/01/20		73,945,000
			TOTAL REPURCHASE AGREEMENT						73,945,000
TREASURY DEBT - 9.1%
	64,000,000		Egypt Treasury Bill		0.000		01/05/21		3,929,098
	50,500,000		Egypt Treasury Bill		0.000		11/03/20		3,174,982
	25,000,000		United States Cash Management Bill		0.140		10/27/20		24,998,556
	31,350,000		United States Cash Management Bill		0.121		11/03/20		31,347,333
	51,335,000		United States Cash Management Bill		0.097-0.103		12/01/20		51,326,932
	30,000,000		United States Cash Management Bill		0.093		12/08/20		29,991,783
	28,150,000		United States Cash Management Bill		0.108		12/15/20		28,143,842
	34,000,000		United States Cash Management Bill		0.116		12/22/20		33,993,417
	10,000,000		United States Cash Management Bill		0.095		12/29/20		9,997,775
	25,000,000		United States Cash Management Bill		0.100		01/05/21		24,993,667
	30,300,000		United States Cash Management Bill		0.091		01/12/21		30,293,498
	50,000,000		United States Treasury Bill		0.130		10/08/20		49,999,368
	32,375,000		United States Treasury Bill		0.100		10/22/20		32,373,348
	25,000,000		United States Treasury Bill		0.096		11/12/20		24,997,156
	20,000,000		United States Treasury Bill		0.075		11/19/20		19,997,550
	42,570,000		United States Treasury Bill		0.090		11/27/20		42,563,260
	45,893,000		United States Treasury Bill		0.089-0.110		12/03/20		45,884,969
	55,000,000		United States Treasury Bill		0.100-0.115		12/31/20		54,985,402
	72,645,000		United States Treasury Bill		0.095-0.098		01/21/21		72,621,269
	74,500,000		United States Treasury Bill		0.106		03/25/21		74,459,257
			TOTAL TREASURY DEBT						690,072,462
			TOTAL SHORT-TERM INVESTMENTS						1,199,852,888
			(Cost $1,199,804,840)
			TOTAL INVESTMENTS - 112.4%						8,530,810,986
			(Cost $8,180,862,955)
			OTHER ASSETS & LIABILITIES, NET - (12.4)%						(942,396,744	)
			NET ASSETS - 100.0%					$	7,588,414,242

Abbreviation(s):

COP	Colombian Peso
DOP	Dominican Republic Peso
EUR	Euro
IDR	Indonesian Rupiah
LIBOR	London Interbank Offered Rate
M	Month
PEN	Peruvian Sol
REIT	Real Estate Investment Trust
RSD	Serbian Dinar
W	Week

202

TIAA-CREF FUNDS – Core Bond Fund

†	Security is categorized as Level 3 in the fair value hierarchy.
‡	Perpetual security
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933, as amended. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 9/30/2020, the aggregate value of these securities is $1,452,477,170 or 19.1% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.
i	Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.
k	Principal amount for interest accrual purposes is periodically adjusted based on changes in the Consumer Price Index.
o	Payment in Kind Bond
q	In default
r	Agreement with Fixed Income Clearing Corporation, 0.070% dated 9/30/20 to be repurchased at $73,945,000 on 10/01/20, collateralized by U.S. Treasury Notes valued at $75,423,955.

Forward foreign currency contracts outstanding as of September 30, 2020 were as follows:

Currency to be purchased	Receive	Currency to be sold	Deliver	Counterparty	Settlement date	Unrealized appreciation (depreciation)
$	3,352,578	EUR	2,817,790	Citibank, N.A.	11/18/20	$	45,514

	Abbreviation(s):
EUR	Euro

Centrally cleared credit default swap contracts outstanding as of September 30, 2020 were as follows:

PURCHASED

Reference entity	Terms of payments to be received	Terms of payments to be paid	Counterparty	Maturity date	Notional amount*	Variation margin			Unrealized appreciation (depreciation)
CDX-NAHYS35V1-5Y	Credit event as specified in contract	5.000%	Citigroup Global Markets, Inc	12/20/25	50,000,000	$	(74,944	)	$	(208,144	)

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

203

TIAA-CREF FUNDS – Core Impact Bond Fund

TIAA-CREF FUNDS
CORE IMPACT BOND FUND
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2020

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
BANK LOAN OBLIGATIONS - 0.1%
TRANSPORTATION - 0.0%
$	2,326,669	i	Delta Air Lines, Inc	LIBOR 3 M + 4.750%		5.750	%	05/01/23	$	2,320,852
			TOTAL TRANSPORTATION							2,320,852
UTILITIES - 0.1%
	5,172,976	i	ExGen Renewables IV LLC	LIBOR 3 M + 3.000%		4.000		11/28/24		5,158,440
			TOTAL UTILITIES							5,158,440
			TOTAL BANK LOAN OBLIGATIONS							7,479,292
			(Cost $7,427,063)
BONDS - 98.1%
CORPORATE BONDS - 40.9%
AUTOMOBILES & COMPONENTS - 1.2%
	6,975,000		Aptiv plc			5.400		03/15/49		7,884,038
	985,000	g,i	BMW US Capital LLC	LIBOR 3 M + 0.500%		0.754		08/13/21		986,991
	9,600,000	g	BMW US Capital LLC			4.150		04/09/30		11,359,545
	5,400,000		BorgWarner, Inc			2.650		07/01/27		5,695,576
	2,125,000	g	Harley-Davidson Financial Services, Inc			2.850		01/15/21		2,132,707
	7,275,000	g,i	Harley-Davidson Financial Services, Inc	LIBOR 3 M + 0.940%		1.181		03/02/21		7,265,362
	10,500,000	g	Harley-Davidson Financial Services, Inc			4.050		02/04/22		10,850,750
	9,000,000	g	Harley-Davidson Financial Services, Inc			3.350		06/08/25		9,412,967
	11,025,000		Magna International, Inc			2.450		06/15/30		11,609,660
			TOTAL AUTOMOBILES & COMPONENTS							67,197,596
BANKS - 7.5%
	13,750,000		Bank of America Corp			0.981		09/25/25		13,746,662
	10,000,000		Bank of America Corp			2.456		10/22/25		10,545,136
	3,150,000	g	Bank of Montreal			2.100		06/15/22		3,243,422
	10,000,000	i	Bank of Montreal	SOFR + 0.680%		0.754		03/10/23		10,046,600
	10,000,000	g	BNP Paribas S.A.			2.219		06/09/26		10,312,677
	11,500,000	g	BNP Paribas S.A.			2.588		08/12/35		11,159,656
	21,400,000	g	BPCE S.A.			1.652		10/06/26		21,403,622
	4,850,000	i	Canadian Imperial Bank of Commerce	SOFR + 0.800%		0.871		03/17/23		4,885,890
	15,000,000		Citigroup, Inc			1.678		05/15/24		15,365,240
	500,000		Citizens Bank NA			2.650		05/26/22		516,657
	10,225,000		Citizens Bank NA			2.250		04/28/25		10,859,215
	3,800,000		Citizens Bank NA			3.750		02/18/26		4,360,080
	9,075,000		Citizens Financial Group, Inc			3.250		04/30/30		10,010,740
	5,000,000	i	Cooperatieve Rabobank UA	LIBOR 3 M + 0.480%		0.753		01/10/23		5,026,310
	3,037,000		Cooperatieve Rabobank UA			3.750		07/21/26		3,381,590
	14,850,000	g	Credit Agricole S.A.			1.907		06/16/26		15,183,904
	4,500,000		First Abu Dhabi Bank PJSC			3.000		03/30/22		4,639,672
	8,385,000		HSBC Holdings plc			3.033		11/22/23		8,746,150

204

TIAA-CREF FUNDS – Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	10,000,000	i	ING Groep NV	LIBOR 3 M + 1.000%		1.234	%	10/02/23	$	10,126,472
	5,850,000	g	ING Groep NV			4.625		01/06/26		6,859,751
	16,050,000	g	ING Groep NV			1.400		07/01/26		16,229,501
	7,213,000	g	Intesa Sanpaolo S.p.A			6.500		02/24/21		7,362,434
	1,125,000	g	Intesa Sanpaolo S.p.A			5.017		06/26/24		1,182,110
	6,250,000	g	Intesa Sanpaolo S.p.A			3.250		09/23/24		6,597,822
	7,200,000	g	Intesa Sanpaolo S.p.A			4.000		09/23/29		7,842,112
	5,525,000	g	Intesa Sanpaolo S.p.A			4.700		09/23/49		6,176,215
	6,090,000		KeyBank NA			1.250		03/10/23		6,202,088
	10,000,000		KeyCorp			2.250		04/06/27		10,576,890
	2,375,000		KeyCorp			2.550		10/01/29		2,523,098
	4,000,000		Lloyds Banking Group plc			4.500		11/04/24		4,366,582
	5,725,000		Lloyds Banking Group plc			3.870		07/09/25		6,233,946
	10,000,000	i	M&T Bank Corp	LIBOR 3 M + 0.680%		0.925		07/26/23		10,082,974
	1,000,000		Manufacturers & Traders Trust Co			2.900		02/06/25		1,090,739
	4,105,000		Manufacturers & Traders Trust Co			3.400		08/17/27		4,590,864
	6,475,000		Mitsubishi UFJ Financial Group, Inc			2.527		09/13/23		6,848,866
	5,925,000	i	Mizuho Financial Group, Inc	LIBOR 3 M + 0.630%		0.880		05/25/24		5,920,758
	11,125,000		National Australia Bank Ltd			3.625		06/20/23		12,041,779
	10,000,000	g	National Australia Bank Ltd			2.332		08/21/30		9,884,722
	11,310,000		People’s United Bank NA			4.000		07/15/24		12,084,645
	4,500,000		People’s United Financial, Inc			3.650		12/06/22		4,747,838
	9,600,000		Regions Financial Corp			5.750		N/A‡		10,248,000
	5,485,000		Royal Bank of Scotland Group plc			2.359		05/22/24		5,627,560
	11,225,000	g	Shinhan Financial Group Co Ltd			3.340		02/05/30		11,766,606
	13,600,000		Sumitomo Mitsui Financial Group, Inc			1.474		07/08/25		13,847,093
	11,512,000		SVB Financial Group			3.500		01/29/25		12,386,619
	10,000,000		SVB Financial Group			3.125		06/05/30		11,158,137
	6,000,000		Truist Financial Corp			3.700		06/05/25		6,797,739
	3,000,000		Truist Financial Corp			3.875		03/19/29		3,440,030
	5,000,000		Truist Financial Corp			4.950		N/A‡		5,262,500
	11,375,000	g	UniCredit S.p.A			2.569		09/22/26		11,234,916
	5,800,000	g	USAA Capital Corp			1.500		05/01/23		5,947,492
	5,600,000	g	USAA Capital Corp			2.125		05/01/30		5,896,045
	3,000,000	g	Westpac Banking Corp			2.100		02/25/21		3,020,618
			TOTAL BANKS							429,638,784
CAPITAL GOODS - 2.0%
	12,700,000		3M Co			2.000		02/14/25		13,473,666
	5,000,000		3M Co			3.050		04/15/30		5,719,319
	10,450,000	g	Carrier Global Corp			2.700		02/15/31		10,879,201
	7,036,000		CNH Industrial Capital LLC			4.875		04/01/21		7,171,759
	3,000,000		CNH Industrial Capital LLC			3.875		10/15/21		3,081,581
	4,000,000		CNH Industrial Capital LLC			4.200		01/15/24		4,297,084
	3,053,000		CNH Industrial NV			3.850		11/15/27		3,298,980
	10,650,000		GATX Corp			4.000		06/30/30		12,260,006
	3,175,000		Ingersoll-Rand Luxembourg Finance S.A.			3.500		03/21/26		3,550,871
	8,975,000		Ingersoll-Rand Luxembourg Finance S.A.			3.800		03/21/29		10,516,332
	4,925,000		Johnson Controls International plc			1.750		09/15/30		4,966,406
	6,900,000		Lennox International, Inc			1.350		08/01/25		6,950,210
	4,900,000		Lennox International, Inc			1.700		08/01/27		4,896,503
	10,500,000	g	NBM US Holdings, Inc			6.625		08/06/29		11,248,125
	5,000,000	g	Siemens Financieringsmaatschappij NV			2.350		10/15/26		5,363,187
	7,375,000		Xylem, Inc			1.950		01/30/28		7,679,743

205

TIAA-CREF FUNDS – Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	3,575,000		Xylem, Inc			2.250	%	01/30/31	$	3,787,596
			TOTAL CAPITAL GOODS							119,140,569
COMMERCIAL & PROFESSIONAL SERVICES - 0.0%
	750,000		Waste Management, Inc			2.400		05/15/23		783,544
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES							783,544
CONSUMER DURABLES & APPAREL - 0.2%
	8,700,000		VF Corp			2.800		04/23/27		9,498,561
			TOTAL CONSUMER DURABLES & APPAREL							9,498,561
CONSUMER SERVICES - 1.3%
	10,750,000		Conservation Fund			3.474		12/15/29		11,614,664
	4,040,000		Henry J Kaiser Family Foundation			3.356		12/01/25		4,294,195
	4,500,000		Low Income Investment Fund			3.386		07/01/26		4,796,893
	10,000,000		Low Income Investment Fund			3.711		07/01/29		10,982,794
	7,850,000	i	Nature Conservancy	LIBOR 3 M + 1.080%		1.331		02/01/24		7,793,882
	4,100,000		New York Public Library Astor Lenox & Tilden Foundations			4.305		07/01/45		4,452,673
	80,000		Salvation Army			5.637		09/01/26		96,115
	5,000,000		Salvation Army			4.528		09/01/48		5,538,577
	6,850,000		Starbucks Corp			2.450		06/15/26		7,422,097
	11,440,000		Wisconsin Alumni Research Foundation			3.564		10/01/49		12,519,884
	5,000,000		YMCA of Greater New York			5.021		08/01/38		5,668,138
	1,500,000		YMCA of Greater New York			5.151		08/01/48		1,701,543
			TOTAL CONSUMER SERVICES							76,881,455
DIVERSIFIED FINANCIALS - 3.6%
	5,000,000		American Express Co			3.000		10/30/24		5,423,722
	10,000,000		AXA Equitable Holdings, Inc			5.000		04/20/48		11,796,521
	2,125,000		Bank of New York Mellon Corp			2.661		05/16/23		2,200,857
	3,150,000		Bank of New York Mellon Corp			4.700		N/A‡		3,342,150
	10,750,000		Century Housing Corp			3.995		11/01/21		10,827,692
	9,220,000		Community Preservation Corp			2.867		02/01/30		9,868,361
	500,000	g	EDP Finance BV			5.250		01/14/21		506,325
	6,575,000	g	EDP Finance BV			3.625		07/15/24		7,150,866
	5,820,000		Enterprise Community Loan Fund, Inc			4.152		11/01/28		6,001,488
	10,115,000		Equitable Holdings, Inc			4.950		N/A‡		10,317,300
	10,000,000		Ford Foundation			2.815		06/01/70		10,397,831
	7,100,000		Morgan Stanley			2.188		04/28/26		7,432,111
	10,000,000	g	NongHyup Bank			1.250		07/20/25		10,086,304
	2,248,000		Reinvestment Fund, Inc			3.166		11/01/23		2,284,384
	3,000,000		Reinvestment Fund, Inc			3.600		02/15/24		3,095,816
	2,500,000		Reinvestment Fund, Inc			3.366		11/01/24		2,573,349
	5,000,000		Reinvestment Fund, Inc			3.513		11/01/25		5,202,695
	5,000,000		Reinvestment Fund, Inc			3.880		02/15/27		5,306,155
	5,000,000		State Street Corp			2.653		05/15/23		5,176,425
	10,750,000		State Street Corp			2.354		11/01/25		11,376,911
	5,500,000	g	Swiss Re Finance Luxembourg SA			5.000		04/02/49		6,267,942
	9,000,000	i	Toronto-Dominion Bank	SOFR + 0.450%		0.520		09/28/23		9,002,680
	10,000,000		Toyota Motor Credit Corp			2.150		02/13/30		10,531,890
	7,775,000	g	UBS Group AG.			1.008		07/30/24		7,792,000

206

TIAA-CREF FUNDS – Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	14,700,000	g	UBS Group AG.			1.364	%	01/30/27	$	14,688,701
	13,750,000		Unilever Capital Corp			2.000		07/28/26		14,695,869
	5,528,000		Unilever Capital Corp			2.125		09/06/29		5,845,523
	6,125,000		Unilever Capital Corp			1.375		09/14/30		6,163,650
	1,925,000	g	WLB Asset II Pte Ltd			4.000		01/14/24		1,914,398
			TOTAL DIVERSIFIED FINANCIALS							207,269,916
ENERGY - 2.8%
	10,000,000	g	Aker BP ASA			2.875		01/15/26		9,901,123
	13,225,000	g	Aker BP ASA			4.000		01/15/31		13,041,087
	6,075,000		Chevron Corp			1.995		05/11/27		6,422,109
	5,500,000		Chevron Corp			2.236		05/11/30		5,832,298
	6,587,465	g	Continental Wind LLC			6.000		02/28/33		7,694,022
	7,600,000		Enbridge, Inc			2.500		01/15/25		8,007,086
	5,830,000		Enbridge, Inc			5.750		07/15/80		6,032,895
	8,175,000		EQT Corp			7.875		02/01/25		9,061,579
	1,500,000		Equinor ASA			2.900		11/08/20		1,503,809
	1,735,000		Equinor ASA			2.750		11/10/21		1,774,696
	1,000,000		Equinor ASA			2.450		01/17/23		1,045,668
	500,000		Equinor ASA			2.650		01/15/24		532,606
	2,000,000		Equinor ASA			3.700		03/01/24		2,208,713
	7,725,000		Equinor ASA			2.375		05/22/30		8,163,710
	3,000,000		Equinor ASA			3.950		05/15/43		3,491,649
	2,900,000	g	Greenko Dutch BV			4.875		07/24/22		2,901,450
	1,925,000		ONEOK, Inc			4.000		07/13/27		2,003,226
	7,246,000		ONEOK, Inc			3.400		09/01/29		7,107,665
	10,950,000		ONEOK, Inc			6.350		01/15/31		12,738,113
	3,350,000		ONEOK, Inc			4.950		07/13/47		3,180,008
	10,000,000		ONEOK, Inc			4.450		09/01/49		8,797,311
	5,000,000	g	TerraForm Power Operating LLC			5.000		01/31/28		5,473,375
	5,869,000		Total Capital International S.A.			3.750		04/10/24		6,482,651
	12,850,000		Total Capital International S.A.			2.986		06/29/41		13,386,287
	6,550,000		Total Capital International S.A.			3.127		05/29/50		6,765,278
	10,000,000	i	Valero Energy Corp	LIBOR 3 M + 1.150%		1.403		09/15/23		9,965,700
			TOTAL ENERGY							163,514,114
FOOD & STAPLES RETAILING - 0.1%
	5,500,000		SYSCO Corp			2.400		02/15/30		5,544,134
			TOTAL FOOD & STAPLES RETAILING							5,544,134
FOOD, BEVERAGE & TOBACCO - 0.7%
	9,000,000		Coca-Cola Co			1.750		09/06/24		9,430,494
	8,125,000		Coca-Cola Co			2.600		06/01/50		8,300,082
	4,675,000		General Mills, Inc			2.875		04/15/30		5,126,176
	2,625,000		PepsiCo, Inc			2.625		03/19/27		2,882,461
	10,910,000		PepsiCo, Inc			2.875		10/15/49		11,698,912
			TOTAL FOOD, BEVERAGE & TOBACCO							37,438,125
HEALTH CARE EQUIPMENT & SERVICES - 0.5%
	5,500,000	i	Becton Dickinson & Co	LIBOR 3 M + 1.030%		1.280		06/06/22		5,538,064
	10,000,000		Becton Dickinson & Co			2.823		05/20/30		10,776,773
	10,000,000	i	Cigna Corp	LIBOR 3 M + 0.890%		1.165		07/15/23		10,103,328
			TOTAL HEALTH CARE EQUIPMENT & SERVICES							26,418,165

207

TIAA-CREF FUNDS – Core Impact Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
HOUSEHOLD & PERSONAL PRODUCTS - 0.5%
$	5,900,000		Kimberly-Clark Corp		3.950	%	11/01/28	$	7,086,375
	6,925,000		Procter & Gamble Co		2.800		03/25/27		7,768,079
	5,300,000		Procter & Gamble Co		3.000		03/25/30		6,144,457
	3,350,000		Procter & Gamble Co		3.550		03/25/40		4,072,082
	3,150,000		Procter & Gamble Co		3.600		03/25/50		3,991,039
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS						29,062,032
INSURANCE - 2.0%
	4,750,000	g	AIA Group Ltd		3.375		04/07/30		5,325,192
	4,125,000	g	AIA Group Ltd		3.200		09/16/40		4,259,599
	17,675,000		Chubb INA Holdings, Inc		1.375		09/15/30		17,421,991
	6,400,000	g	Empower Finance 2020 LP		1.357		09/17/27		6,378,356
	6,700,000	g	Empower Finance 2020 LP		1.776		03/17/31		6,695,871
	10,500,000	g	Equitable Financial Life Global Funding		1.400		08/27/27		10,532,891
	3,750,000	g	Five Corners Funding Trust		4.419		11/15/23		4,166,589
	13,325,000	g	Five Corners Funding Trust II		2.850		05/15/30		14,372,481
	4,100,000	g	Great-West Lifeco US Finance 2020 LP		0.904		08/12/25		4,089,902
	3,500,000	g	Principal Life Global Funding II		1.250		06/23/25		3,559,914
	5,000,000		Progressive Corp		3.700		01/26/45		5,950,611
	8,850,000		Prudential Financial, Inc		1.500		03/10/26		9,217,064
	4,265,000		Prudential Financial, Inc		3.700		10/01/50		4,351,579
	6,100,000		Reinsurance Group of America, Inc		3.150		06/15/30		6,640,772
	5,000,000	g	Swiss Re Treasury US Corp		2.875		12/06/22		5,135,331
	6,674,000	g	Swiss Re Treasury US Corp		4.250		12/06/42		8,242,206
	2,075,000		Travelers Cos, Inc		2.550		04/27/50		2,030,982
			TOTAL INSURANCE						118,371,331
MATERIALS - 2.7%
	10,588,000	g	Air Liquide Finance S.A.		2.500		09/27/26		11,533,892
	11,250,000	g	Air Liquide Finance S.A.		2.250		09/10/29		11,964,608
	4,400,000		Bemis Co, Inc		2.630		06/19/30		4,695,823
	7,250,000	g	Celulosa Arauco y Constitucion S.A.		4.200		01/29/30		7,675,938
	10,000,000	g	Celulosa Arauco y Constitucion S.A.		5.150		01/29/50		10,590,000
	5,000,000		Commercial Metals Co		5.750		04/15/26		5,200,000
	11,575,000		DuPont de Nemours, Inc		2.169		05/01/23		11,682,688
	14,000,000		Ecolab, Inc		1.300		01/30/31		13,697,175
	13,500,000		Ecolab, Inc		2.125		08/15/50		12,358,207
	1,934,000		International Paper Co		4.800		06/15/44		2,399,949
	6,375,000		International Paper Co		4.350		08/15/48		7,786,215
	5,750,000	g	Inversiones CMPC S.A.		4.375		04/04/27		6,404,120
	10,000,000	g	Klabin Austria GmbH		7.000		04/03/49		11,325,100
	7,225,000	g	Klabin Finance S.A.		4.875		09/19/27		7,712,760
EUR	2,500,000	g	LG Chem Ltd		0.500		04/15/23		2,931,664
	5,940,000	g	LG Chem Ltd		3.625		04/15/29		6,588,594
	5,000,000		Newmont Corp		2.250		10/01/30		5,156,414
	2,950,000		Steel Dynamics, Inc		2.400		06/15/25		3,077,312
	4,850,000		Steel Dynamics, Inc		3.250		01/15/31		5,185,901
	10,000,000	g	Teck Resources Ltd		3.900		07/15/30		10,456,425
			TOTAL MATERIALS						158,422,785

208

TIAA-CREF FUNDS – Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
MEDIA & ENTERTAINMENT - 0.7%
$	14,250,000		Alphabet, Inc			0.450	%	08/15/25	$	14,163,955
	10,000,000		Alphabet, Inc			1.100		08/15/30		9,901,029
	3,650,000	g	Discovery Communications LLC			4.000		09/15/55		3,684,159
	5,600,000	g	Nutrition & Biosciences, Inc			1.832		10/15/27		5,623,847
	6,350,000	g	Nutrition & Biosciences, Inc			3.268		11/15/40		6,385,793
	2,320,000		Smithsonian Institution			2.645		09/01/39		2,393,446
			TOTAL MEDIA & ENTERTAINMENT							42,152,229
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 2.4%
	10,000,000	g,i	AbbVie, Inc	LIBOR 3 M + 0.650%		0.897		11/21/22		10,045,880
	5,000,000		Bristol-Myers Squibb Co			2.750		02/15/23		5,256,497
	17,200,000		Gilead Sciences, Inc			0.750		09/29/23		17,235,002
	6,275,000		Gilead Sciences, Inc			1.200		10/01/27		6,285,148
	5,350,000		Gilead Sciences, Inc			2.600		10/01/40		5,337,809
	14,150,000		Gilead Sciences, Inc			2.800		10/01/50		13,957,719
	5,750,000		GlaxoSmithKline Capital, Inc			3.625		05/15/25		6,529,391
	18,450,000		Merck & Co, Inc			0.750		02/24/26		18,506,334
	9,075,000		Merck & Co, Inc			1.450		06/24/30		9,201,043
	15,600,000		Merck & Co, Inc			2.350		06/24/40		15,831,331
	3,700,000		Merck & Co, Inc			2.450		06/24/50		3,680,296
	5,674,000	g	Roche Holdings, Inc			2.375		01/28/27		6,107,789
	10,000,000		Takeda Pharmaceutical Co Ltd			2.050		03/31/30		10,127,740
	12,125,000		Takeda Pharmaceutical Co Ltd			3.175		07/09/50		12,411,171
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES							140,513,150
REAL ESTATE - 2.0%
	4,995,000		Alexandria Real Estate Equities, Inc			4.000		01/15/24		5,492,444
	5,000,000		Boston Properties LP			3.250		01/30/31		5,385,077
	1,975,000		Brandywine Operating Partnership LP			3.950		02/15/23		2,042,596
	4,300,000		Brandywine Operating Partnership LP			3.950		11/15/27		4,461,000
	6,875,000		Brixmor Operating Partnership LP			3.900		03/15/27		7,271,768
	4,000,000		Duke Realty LP			2.875		11/15/29		4,360,544
	15,625,000	h	Equinix, Inc			1.000		09/15/25		15,478,644
	2,350,000		Equinix, Inc			1.800		07/15/27		2,370,607
	6,600,000	g	HAT Holdings I LLC			5.250		07/15/24		6,877,662
	1,950,000	g	HAT Holdings I LLC			6.000		04/15/25		2,077,335
	10,000,000	g	HAT Holdings I LLC			3.750		09/15/30		10,025,000
	9,641,000		Host Hotels & Resorts LP			3.375		12/15/29		9,009,515
	4,725,000		Kilroy Realty LP			3.450		12/15/24		4,985,003
	6,700,000		Kilroy Realty LP			4.750		12/15/28		7,772,889
	3,125,000		Life Storage LP			2.200		10/15/30		3,119,348
	9,157,000		Regency Centers LP			3.750		06/15/24		9,733,877
	10,000,000	g	Scentre Group Trust 2			5.125		09/24/80		9,817,477
	5,000,000		Welltower, Inc			2.750		01/15/31		5,134,324
			TOTAL REAL ESTATE							115,415,110
RETAILING - 0.9%
	2,800,000		Advance Auto Parts, Inc			1.750		10/01/27		2,788,441
	7,800,000		Chevron USA, Inc			2.343		08/12/50		7,275,538
	7,200,000		Home Depot, Inc			2.500		04/15/27		7,821,900
	10,000,000		Home Depot, Inc			2.700		04/15/30		11,125,439

209

TIAA-CREF FUNDS – Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	5,000,000		Home Depot, Inc			3.350	%	04/15/50	$	5,762,025
	3,150,000		Lowe’s Cos, Inc			5.000		04/15/40		4,126,478
	11,900,000		Target Corp			2.250		04/15/25		12,704,674
			TOTAL RETAILING							51,604,495
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.3%
	7,000,000	g	NXP BV			3.400		05/01/30		7,657,445
	7,575,000		Texas Instruments, Inc			3.875		03/15/39		9,350,859
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT							17,008,304
SOFTWARE & SERVICES - 0.8%
	12,875,000		Automatic Data Processing, Inc			1.250		09/01/30		12,683,140
	7,500,000		Visa, Inc			1.900		04/15/27		7,957,330
	10,000,000		Visa, Inc			0.750		08/15/27		9,918,267
	10,000,000		Visa, Inc			1.100		02/15/31		9,784,020
	5,000,000		Visa, Inc			2.000		08/15/50		4,610,193
			TOTAL SOFTWARE & SERVICES							44,952,950
TECHNOLOGY HARDWARE & EQUIPMENT - 0.1%
	5,750,000		Apple, Inc			3.000		06/20/27		6,483,728
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT							6,483,728
TRANSPORTATION - 1.6%
	10,000,000		Canadian Pacific Railway Co			2.050		03/05/30		10,419,966
	6,100,000		CSX Corp			2.400		02/15/30		6,530,599
	2,604,005		Delta Air Lines, Inc			4.250		07/30/23		2,395,665
	2,850,000		Delta Air Lines, Inc			3.204		04/25/24		2,839,808
	13,700,000		Delta Air Lines, Inc			3.404		04/25/24		13,218,126
	7,600,000		Delta Air Lines, Inc			2.900		10/28/24		6,764,000
	6,225,000	g	Delta Air Lines, Inc			7.000		05/01/25		6,833,929
	3,400,000		Delta Air Lines, Inc			7.375		01/15/26		3,563,642
	5,700,000		Delta Air Lines, Inc			2.000		06/10/28		5,507,246
	12,000,000		Delta Air Lines, Inc			2.500		06/10/28		10,777,986
	2,500,000		Kansas City Southern			4.300		05/15/43		2,636,632
	2,500,000		Kansas City Southern			4.950		08/15/45		2,782,178
	500,000		Norfolk Southern Corp			2.900		06/15/26		551,459
	7,500,000	i	United Parcel Service, Inc	LIBOR 3 M + 0.450%		0.675		04/01/23		7,556,938
	10,000,000		United Parcel Service, Inc			3.400		09/01/49		11,346,157
			TOTAL TRANSPORTATION							93,724,331
UTILITIES - 7.0%
	10,750,000	g	AES Gener S.A.			6.350		10/07/79		10,844,062
	3,925,000		American Water Capital Corp			2.800		05/01/30		4,296,300
	4,375,000		Arizona Public Service Co			3.750		05/15/46		4,981,232
	14,749,000		Avangrid, Inc			3.200		04/15/25		16,229,725
	7,500,000		Avangrid, Inc			3.800		06/01/29		8,657,897
	5,025,000		Avista Corp			4.350		06/01/48		6,335,930
	800,000	g	Azure Power Energy Ltd			5.500		11/03/22		814,986
	5,025,000	g	Azure Power Solar Energy Pvt Ltd			5.650		12/24/24		5,218,726
	10,000,000	g	Brooklyn Union Gas Co			4.487		03/04/49		12,823,716
	5,425,000		Clearway Energy Operating LLC			5.750		10/15/25		5,709,812
	3,250,000	g	Clearway Energy Operating LLC			4.750		03/15/28		3,371,875

210

TIAA-CREF FUNDS – Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	3,050,000		CMS Energy Corp			4.750	%	06/01/50	$	3,230,443
	8,170,000	g	Consorcio Transmantaro SA			4.700		04/16/34		9,661,025
	4,200,000		Consumers Energy Co			2.500		05/01/60		3,936,248
	1,693,000	i	Dominion Energy Gas Holdings LLC	LIBOR 3 M + 0.600%		0.850		06/15/21		1,698,563
	8,850,000		Dominion Energy Gas Holdings LLC			2.500		11/15/24		9,405,387
	7,115,000		Dominion Energy, Inc			3.600		03/15/27		8,089,348
	4,850,000		Dominion Energy, Inc (Step Bond)			3.071		08/15/24		5,214,397
	6,044,000		DTE Electric Co			4.050		05/15/48		7,607,779
	5,000,000		DTE Electric Co			3.950		03/01/49		6,294,302
	12,000,000		DTE Energy Co			2.850		10/01/26		13,003,705
	10,750,000		Duke Energy Florida LLC			2.500		12/01/29		11,661,626
	3,350,000	g	East Ohio Gas Co			1.300		06/15/25		3,413,859
	3,100,000	g	East Ohio Gas Co			2.000		06/15/30		3,208,267
	9,559,000	g	Electricite de France S.A.			3.625		10/13/25		10,703,246
	10,000,000		Essential Utilities, Inc			2.704		04/15/30		10,692,688
	11,800,000		Essential Utilities, Inc			3.351		04/15/50		12,582,970
	2,425,000		Florida Power & Light Co			2.850		04/01/25		2,659,153
	8,882,000		Georgia Power Co			3.250		04/01/26		9,841,754
	13,850,000	g	Hanwha Energy USA Holdings Corp			2.375		07/30/22		14,234,789
	7,925,000	g	Korea Hydro & Nuclear Power Co Ltd			3.750		07/25/23		8,591,346
	5,000,000		MidAmerican Energy Co			3.100		05/01/27		5,602,695
	2,375,000		MidAmerican Energy Co			3.650		04/15/29		2,827,997
	2,430,000		MidAmerican Energy Co			3.650		08/01/48		2,863,160
	4,250,000		MidAmerican Energy Co			3.150		04/15/50		4,697,952
	12,626,000		National Fuel Gas Co			5.500		01/15/26		13,779,991
	3,225,000	g	NextEra Energy Operating Partners LP			4.250		07/15/24		3,362,707
	1,000,000	g	NextEra Energy Operating Partners LP			4.250		09/15/24		1,042,500
	5,170,000	g	Niagara Mohawk Power Corp			1.960		06/27/30		5,315,714
	750,000	g	Niagara Mohawk Power Corp			4.278		10/01/34		925,466
	8,758,000		NorthWestern Corp			4.176		11/15/44		10,273,466
	5,450,000		Oklahoma Gas & Electric Co			3.250		04/01/30		6,103,414
	1,925,000	g	Pattern Energy Operations LP			4.500		08/15/28		1,997,188
	8,050,000	g	Protective Life Global Funding			1.082		06/09/23		8,163,309
	5,925,000		PSEG Power LLC			3.850		06/01/23		6,374,293
	3,625,000		Public Service Co of Colorado			3.200		03/01/50		4,113,786
	1,000,000		Public Service Co of New Hampshire			3.500		11/01/23		1,082,071
	2,975,000		Public Service Co of New Hampshire			3.600		07/01/49		3,458,976
	7,500,000		San Diego Gas & Electric Co			4.150		05/15/48		9,110,328
	1,000,000		Sempra Energy			2.875		10/01/22		1,037,556
	10,000,000		Sempra Energy			4.875		N/A‡		10,275,000
	2,587,555	g	Solar Star Funding LLC			3.950		06/30/35		2,690,073
	5,110,870	g	Solar Star Funding LLC			5.375		06/30/35		5,966,006
	10,815,000		Southern Power Co			4.150		12/01/25		12,398,702
	2,200,000		Southwest Gas Corp			2.200		06/15/30		2,299,870
	5,275,000		Southwestern Public Service Co			3.750		06/15/49		6,212,474
	5,284,000		Southwestern Public Service Co			3.150		05/01/50		5,684,724
	9,795,600	g	Star Energy Geothermal Wayang Windu Ltd			6.750		04/24/33		10,775,979
	5,884,187	g	Topaz Solar Farms LLC			4.875		09/30/39		6,505,183
	863,393	g	Topaz Solar Farms LLC			5.750		09/30/39		1,005,953
	8,000,000		Tucson Electric Power Co			1.500		08/01/30		7,923,882
	8,250,000		Westar Energy, Inc			2.550		07/01/26		8,939,454
			TOTAL UTILITIES							407,825,025
			TOTAL CORPORATE BONDS							2,368,860,433
			(Cost $2,255,946,441)

211

TIAA-CREF FUNDS – Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
GOVERNMENT BONDS - 47.8%
AGENCY SECURITIES - 3.9%
$	1,756,000		Canal Barge Co, Inc			4.500	%	11/12/34	$	2,039,412
	3,637,517		Crowley Conro LLC			4.181		08/15/43		4,354,375
	602,702		Ethiopian Leasing LLC			2.566		08/14/26		639,423
	423,842		Excalibur One 77B LLC			1.492		01/01/25		431,775
	4,150,000		Federal Home Loan Mortgage Corp (FHLMC)			1.125		08/12/21		4,185,507
	11,250,000		FHLMC			0.125		07/25/22		11,244,279
	23,000,000		FHLMC			0.375		05/05/23		23,097,091
	14,000,000		FHLMC			1.500		02/12/25		14,675,708
	8,600,000		Federal National Mortgage Association (FNMA)			0.625		04/22/25		8,714,659
	16,800,000		FNMA			0.875		08/05/30		16,522,025
	7,909,000		Hashemite Kingdom of Jordan Government AID International Bond			3.000		06/30/25		8,804,640
	5,884,336		HNA LLC			2.369		09/18/27		6,231,097
	325,000	g	Hospital for Special Surgery			3.500		01/01/23		334,312
	815,000	i	Housing and Urban Development Corp Ltd	LIBOR 6 M + 0.035%		0.317		09/15/30		813,951
	7,192,000		Iraq Government AID International Bond			2.149		01/18/22		7,374,721
	1,333,332	i	Jupiter Aircraft Leasing LLC	LIBOR 3 M + 0.240%		0.508		08/19/23		1,311,356
	1,666,663	i	Jupiter Aircraft Leasing LLC	LIBOR 3 M + 0.240%		0.465		09/22/23		1,637,443
	2,230,000		New York Society for the Relief of the Ruptured & Crippled			2.881		12/20/31		2,359,925
	868,295		Overseas Private Investment Corp (OPIC)			0.000		07/17/21		936,043
	1,753,650		OPIC			2.040		12/15/26		1,815,987
	4,727,117		OPIC			3.220		09/15/29		5,354,530
	875,392		OPIC			3.280		09/15/29		994,166
	6,000,000		OPIC			1.790		10/15/29		6,327,457
	15,000,000		OPIC			2.360		10/15/29		16,344,670
	1,051,200		OPIC			4.140		05/15/30		1,241,794
	143,385		OPIC			3.540		06/15/30		163,998
	152,985		OPIC			3.370		12/15/30		173,948
	917,419		OPIC			3.330		05/15/33		1,056,488
	1,029,852		OPIC			2.810		07/31/33		1,165,659
	823,881		OPIC			2.940		07/31/33		940,098
	1,196,437		OPIC			3.250		07/31/33		1,390,891
	6,251,520		OPIC			2.040		06/15/35		6,638,810
	1,231,360		OPIC			2.220		06/15/35		1,324,550
	947,200		OPIC			3.050		06/15/35		1,078,851
	3,552,000		OPIC			3.480		06/15/35		4,162,190
	4,925,440		OPIC			3.590		06/15/35		5,822,721
	10,000,000		OPIC			2.290		07/15/38		10,994,800
	5,500,000		OPIC			2.450		07/15/38		6,155,136
	5,050,000		OPIC			3.190		07/15/38		5,934,744
	1,000,000		Private Export Funding Corp (PEFCO)			3.550		01/15/24		1,084,496
	1,000,000		PEFCO			3.250		06/15/25		1,117,459
	1,850,000		United States International Development Finance Corp			1.050		10/15/29		1,872,644
	180,000		UNM Sandoval Regional Medical Center			4.500		07/20/36		182,083
	2,500,000		US Department of Housing and Urban Development (HUD)			2.618		08/01/23		2,659,777
	2,000,000		HUD			2.800		08/01/23		2,134,182

212

TIAA-CREF FUNDS – Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	500,000		HUD			2.910	%	08/01/23	$	510,789
	3,000,000		HUD			2.960		08/01/24		3,062,601
	3,726,000		HUD			2.870		08/01/27		4,212,653
	420,000		HUD			5.380		08/01/27		426,562
	4,675,000		HUD			2.985		08/01/28		5,423,607
	1,931,000		HUD			3.185		08/01/29		2,220,385
	1,166,667		VCM Lease S.A.			2.516		09/28/27		1,236,438
	761,000		Vessel Management Services, Inc			3.432		08/15/36		843,762
	269,000		Vessel Management Services, Inc			3.477		01/16/37		299,292
	3,201,210	i	Washington Aircraft 2 Co Ltd	LIBOR 3 M + 0.430%		0.663		06/26/24		3,158,253
	2,083,837		Windermere Aviation LLC			2.351		05/27/26		2,187,803
			TOTAL AGENCY SECURITIES							227,422,016
FOREIGN GOVERNMENT BONDS - 5.7%
	1,740,000		African Development Bank			2.375		09/23/21		1,776,207
	4,000,000		African Development Bank			3.000		12/06/21		4,129,986
	12,750,000		African Development Bank			0.750		04/03/23		12,905,382
	1,000,000		Asian Development Bank			1.875		08/10/22		1,030,152
	1,000,000		Asian Development Bank			2.125		03/19/25		1,075,803
	8,500,000		Asian Development Bank			1.750		08/14/26		9,084,290
	11,000,000		Asian Development Bank			3.125		09/26/28		13,055,265
	7,500,000	g	BNG Bank NV			2.625		02/27/24		8,067,325
	20,000,000	g	Caisse d’Amortissement de la Dette Sociale			0.375		09/23/25		19,861,600
	9,500,000		Chile Government International Bond			3.500		01/25/50		10,830,000
	9,875,000	g	Egypt Government International Bond			5.250		10/06/25		9,852,287
	10,498,000		European Bank for Reconstruction & Development			1.875		07/15/21		10,632,174
	200,000	i	European Bank for Reconstruction & Development	LIBOR 3 M + 0.010%		0.263		05/11/22		199,824
	15,000,000		European Bank for Reconstruction & Development			1.625		09/27/24		15,753,175
	1,000,000		European Bank for Reconstruction & Development			1.500		02/13/25		1,040,836
	2,225,000		European Investment Bank			2.000		03/15/21		2,243,226
	1,250,000		European Investment Bank			2.375		05/24/27		1,392,832
	10,500,000		European Investment Bank			1.625		10/09/29		11,246,688
	9,300,000	g	European Stability Mechanism			1.375		09/11/24		9,659,561
	3,650,000	g	Guatemala Government International Bond			5.375		04/24/32		4,186,550
	1,955,000	i	Inter-American Development Bank	LIBOR 1 M + 0.000%		0.156		10/09/20		1,955,450
	5,000,000	i	Inter-American Development Bank	LIBOR 3 M + 0.010%		0.285		01/15/22		4,997,043
	10,000,000		International Bank for Reconstruction & Development			0.625		04/22/25		10,090,200
	4,750,000		International Bank for Reconstruction & Development			3.125		11/20/25		5,389,144
	2,900,000		International Bank for Reconstruction & Development			2.750		05/31/36		2,913,651
	10,450,000	g	International Development Association			2.750		04/24/23		11,098,450
	6,500,000		International Finance Corp			1.546		11/04/21		6,558,383
	110,000	i	International Finance Corp	LIBOR 3 M + 0.070%		0.320		12/15/22		110,084
	7,375,000		International Finance Corp			0.500		03/20/23		7,412,165
	3,250,000		International Finance Corp			2.125		04/07/26		3,536,295
	2,500,000		Japan Bank for International Cooperation			1.875		04/20/21		2,521,278
	3,000,000	g	Japan Finance Organization for Municipalities			2.125		04/13/21		3,026,305
	3,350,000	g	Japan Finance Organization for Municipalities			3.375		09/27/23		3,627,011
	6,000,000	g	Kommunalbanken AS.			2.125		02/11/25		6,433,293
	5,500,000	i	Korea Development Bank International Bond	LIBOR 3 M + 0.725%		1.029		07/06/22		5,534,845
	10,100,000	g	Korea Electric Power Corp			1.125		06/15/25		10,148,985
	5,250,000		Kreditanstalt fuer Wiederaufbau			2.000		11/30/21		5,358,567

213

TIAA-CREF FUNDS – Core Impact Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	13,250,000		Landwirtschaftliche Rentenbank		0.875	%	09/03/30	$	13,243,508
	2,875,000	g	Nacional Financiera SNC		3.375		11/05/20		2,876,006
	100,000	g	Nederlandse Waterschapsbank NV		2.125		11/15/21		102,055
	6,000,000	g	Nederlandse Waterschapsbank NV		3.125		12/05/22		6,364,818
	10,000,000	g	Nederlandse Waterschapsbank NV		1.750		01/15/25		10,540,384
	7,750,000	g	Nederlandse Waterschapsbank NV		2.375		03/24/26		8,483,169
	5,000,000		North American Development Bank		2.400		10/26/22		5,171,476
	6,000,000	g	Perusahaan Penerbit SBSN Indonesia III		3.750		03/01/23		6,367,800
	6,600,000	g	Perusahaan Penerbit SBSN Indonesia III		3.900		08/20/24		7,248,780
	500,000		Province of Manitoba Canada		3.050		05/14/24		544,096
	5,000,000		Province of Quebec Canada		2.750		04/12/27		5,598,580
	10,000,000		Republic of Italy Government International Bond		2.875		10/17/29		10,350,923
	10,750,000		Republic of Italy Government International Bond		4.000		10/17/49		11,529,568
	4,250,000		Seychelles International Bond		6.500		10/11/28		4,150,805
			TOTAL FOREIGN GOVERNMENT BONDS						331,306,280
MORTGAGE BACKED - 21.9%
	18,700,000		Federal Home Loan Mortgage Corp (FHLMC)		0.250		08/24/23		18,701,622
	13,650,000		FHLMC		0.250		09/08/23		13,658,557
	875,000		FHLMC		3.000		10/15/33		976,712
	970,036		FHLMC		3.500		08/15/43		1,001,050
	8,893,081		FHLMC		3.500		03/15/44		9,747,195
	1,120,490	i	FHLMC		5.768		03/15/44		213,773
	9,513,604		FHLMC		4.000		10/01/47		10,530,001
	39,317,653		FHLMC		4.000		06/01/48		43,020,286
	1,626,208	i	FHLMC		9.676		06/15/48		2,043,673
	9,549,222		FHLMC		4.000		07/01/48		10,504,735
	1,534,812	i	FHLMC		9.596		10/15/48		1,952,069
	8,246,603		FHLMC		4.000		09/01/49		9,097,390
	4,176,302		FHLMC		3.000		11/01/49		4,442,427
	165,932		Federal Home Loan Mortgage Corp Gold (FGLMC)		5.000		06/01/36		190,890
	163,953		FGLMC		4.500		12/01/43		183,061
	178,399		FGLMC		4.500		02/01/44		199,269
	1,386,898		FGLMC		5.000		08/01/44		1,593,517
	221,986		FGLMC		3.500		04/01/45		245,403
	5,284,256		FGLMC		3.500		08/01/45		5,880,457
	1,621,199		FGLMC		3.500		10/01/45		1,788,282
	1,763,735		FGLMC		4.000		12/01/45		1,960,033
	2,951,190		FGLMC		3.500		08/01/46		3,251,988
	9,078,309		FGLMC		3.000		01/01/47		9,561,213
	6,156,435		FGLMC		3.000		02/01/47		6,457,281
	4,553,420		FGLMC		3.500		02/01/47		4,868,047
	351,967		FGLMC		4.500		06/01/47		392,831
	618,103		FGLMC		4.000		09/01/47		677,412
	131,498		FGLMC		3.500		12/01/47		144,082
	18,826,430		FGLMC		3.500		03/01/48		20,583,619
	2,033,165		FGLMC		4.000		03/01/48		2,262,907
	779,706		FGLMC		4.000		07/01/48		857,921
	3,176,034		FGLMC		4.500		08/01/48		3,512,272
	17,500,000		Federal National Mortgage Association (FNMA)		0.250		07/10/23		17,494,436
	3,750,000		FNMA		2.125		04/24/26		4,093,442
	157,517		FNMA		3.500		07/01/26		166,764
	5,750,000	i	FNMA		2.895		02/25/27		6,380,206

214

TIAA-CREF FUNDS – Core Impact Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	10,000,000	i	FNMA		3.436	%	06/25/28	$	11,580,449
	585,774		FNMA		3.500		05/01/32		624,819
	9,984,564		FNMA		3.000		10/01/32		10,475,469
	43,000,000	h	FNMA		2.500		10/25/32		44,894,687
	16,553,099		FNMA		2.500		07/01/35		17,323,931
	52,000,000	h	FNMA		2.000		10/25/35		54,031,250
	178,436		FNMA		5.500		11/01/38		207,270
	8,651,377		FNMA		3.000		05/01/40		9,079,598
	2,565,952		FNMA		3.500		05/01/40		2,719,993
	682,840		FNMA		5.000		09/01/40		786,497
	663,087		FNMA		5.000		04/01/41		765,106
	2,685,993		FNMA		4.000		09/01/42		2,942,801
	772,383		FNMA		3.000		04/25/43		811,448
	1,324,626	i	FNMA		5.802		09/25/43		296,698
	1,265,439		FNMA		4.000		01/01/44		1,408,969
	94,226		FNMA		4.500		06/01/44		105,292
	455,747		FNMA		4.500		06/01/44		509,139
	214,455		FNMA		4.500		08/01/44		239,580
	419,729		FNMA		4.500		11/01/44		468,384
	987,703		FNMA		4.000		01/01/45		1,079,878
	343,854		FNMA		3.000		02/25/45		360,310
	827,573		FNMA		3.000		02/25/45		852,262
	466,813		FNMA		4.500		03/01/45		521,381
	663,275		FNMA		3.000		03/25/45		687,346
	1,652,663		FNMA		4.000		06/01/45		1,823,354
	1,778,305		FNMA		4.000		12/01/45		1,978,716
	3,139,492		FNMA		3.000		12/25/45		3,266,716
	1,135,430		FNMA		3.500		01/01/46		1,252,166
	251,333		FNMA		4.000		01/01/46		279,913
	315,137		FNMA		4.000		03/01/46		347,593
	1,784,076		FNMA		3.500		06/01/46		1,967,509
	2,158,652		FNMA		3.500		07/01/46		2,380,595
	2,923,236		FNMA		3.500		07/01/46		3,221,426
	3,361,014		FNMA		3.500		08/01/46		3,706,581
	9,157,339		FNMA		3.000		10/01/46		9,435,887
	14,342,237		FNMA		3.000		11/01/46		15,076,084
	1,714,871		FNMA		3.500		12/01/46		1,818,564
	7,839,913		FNMA		3.500		01/01/47		8,300,072
	731,066		FNMA		3.000		04/25/47		784,966
	268,518		FNMA		4.500		05/01/47		301,061
	7,315,341		FNMA		3.500		08/01/47		7,820,525
	9,907,186		FNMA		4.000		09/01/47		10,606,959
	2,170,128		FNMA		4.000		10/01/47		2,315,844
	745,443		FNMA		3.000		11/01/47		767,775
	7,238,950		FNMA		3.500		11/01/47		7,999,018
	514,148		FNMA		4.500		11/01/47		577,536
	9,392,815		FNMA		4.000		12/01/47		10,455,579
	11,024,752		FNMA		4.000		12/01/47		11,812,292
	178,919		FNMA		3.500		01/01/48		197,906
	71,064		FNMA		3.500		01/01/48		78,166
	9,386,258		FNMA		3.500		01/01/48		9,923,242
	1,861,285		FNMA		4.500		01/01/48		2,094,898
	7,873,404		FNMA		3.500		02/01/48		8,331,108
	495,611		FNMA		4.000		02/01/48		529,506

215

TIAA-CREF FUNDS – Core Impact Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	467,123		FNMA		4.500	%	02/01/48	$	525,474
	3,829,925		FNMA		3.000		02/25/48		4,070,696
	28,954,544		FNMA		3.500		03/01/48		30,620,589
	1,059,877		FNMA		4.000		03/01/48		1,171,885
	2,021,867		FNMA		4.500		03/01/48		2,269,960
	18,103,243		FNMA		3.500		04/01/48		19,137,868
	11,125,993		FNMA		4.000		04/01/48		11,879,891
	949,784		FNMA		4.500		05/01/48		1,060,044
	1,272,295		FNMA		4.500		05/01/48		1,428,420
	360		FNMA		4.500		07/01/48		389
	507,983		FNMA		5.000		08/01/48		575,824
	1,658,628		FNMA		0.000		11/25/48		1,537,589
	1,658,628		FNMA		3.000		11/25/48		184,780
	811,362		FNMA		3.000		08/01/49		883,126
	77,000,000	h	FNMA		2.500		10/01/50		80,823,746
	37,000,000	h	FNMA		2.000		10/25/50		38,248,750
	67,000,000	h	FNMA		3.000		10/25/50		70,185,117
	54,000,000	h	FNMA		2.000		11/25/50		55,689,071
	75,000,000	h	FNMA		2.500		11/25/50		78,500,228
	81,000,000	h	FNMA		3.000		11/25/50		84,869,649
	690,508		Government National Mortgage Association (GNMA)		2.690		06/15/33		739,340
	52,609		GNMA		5.000		06/20/42		59,996
	12,272,835		GNMA		2.750		01/15/45		13,361,683
	1,421,328		GNMA		4.000		06/20/46		165,894
	107,000,000	h	GNMA		3.000		10/20/46		112,032,344
	6,235,420		GNMA		3.500		12/20/46		6,632,162
	4,618,455		GNMA		3.500		01/20/47		4,931,024
	2,157,380		GNMA		3.500		01/20/49		2,363,475
	62,000,000	h	GNMA		2.000		10/20/50		64,402,500
	69,000,000	h	GNMA		2.500		10/20/50		72,180,469
			TOTAL MORTGAGE BACKED						1,271,390,920
MUNICIPAL BONDS - 7.4%
	2,000,000		Brunswick & Glynn County Development Authority		3.060		04/01/25		2,192,000
	1,935,000	g	California Municipal Finance Authority		4.250		11/01/23		1,927,763
	5,000,000		Chicago Board of Education		5.000		12/01/20		5,032,250
	10,000,000		Chicago Housing Authority		4.361		01/01/38		11,482,200
	16,465,000		Chicago Metropolitan Water Reclamation District-Greater Chicago		5.720		12/01/38		23,706,801
	1,000,000		Chicago Park District		4.095		01/01/26		1,121,910
	625,000		Chula Vista Municipal Financing Authority		3.775		12/01/33		681,131
	1,350,000		Chula Vista Municipal Financing Authority		3.975		12/01/38		1,454,112
	740,000		Chula Vista Municipal Financing Authority		4.075		12/01/41		795,463
	4,300,000		Chula Vista Municipal Financing Authority		4.275		12/01/48		4,606,977
	5,730,000		City & County of Honolulu HI		3.944		09/01/34		6,574,487
	935,000		City & County of San Francisco CA		3.700		04/01/34		1,022,348
	440,000		City & County of San Francisco CA		3.750		04/01/35		480,806
	5,835,000		City & County of San Francisco CA		3.900		04/01/42		6,231,955
	5,405,000		City & County of San Francisco CA Community Facilities District		3.750		09/01/37		5,838,481
	4,610,000		City & County of San Francisco CA Community Facilities District		4.221		09/01/39		5,207,779

216

TIAA-CREF FUNDS – Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	5,000,000		City & County of San Francisco CA Community Facilities District			4.000	%	09/01/48	$	5,316,750
	1,925,000		City of Berkeley CA			3.250		09/01/35		2,098,519
	8,885,000		City of Berkeley CA			3.750		09/01/43		9,804,153
	2,490,000		City of Chicago IL			7.750		01/01/42		3,230,401
	510,000		City of Chicago IL			7.750		01/01/42		551,458
	2,750,000		City of Florence SC			4.250		12/01/34		2,998,380
	4,000,000		City of Los Angeles CA			3.500		09/01/37		4,390,960
	9,060,000		City of Los Angeles CA			3.880		09/01/38		10,266,520
	870,000	g	City of Miami FL			4.808		01/01/39		963,742
	170,000		City of Mount Shasta CA			4.000		08/01/29		212,373
	190,000		City of Mount Shasta CA			3.000		08/01/32		211,875
	2,685,000		City of Oakland CA			1.830		01/15/27		2,749,118
	2,000,000		City of San Angelo TX Water & Sewer Revenue			4.401		02/15/46		2,083,880
	12,615,000		City of San Francisco CA Public Utilities Commission Water Revenue			3.303		11/01/39		13,624,957
	5,750,000		City of San Francisco CA Public Utilities Commission Water Revenue			4.185		11/01/46		6,360,133
	1,385,000		City of San Juan Capistrano CA			4.190		08/01/40		1,564,122
	360,000		Clean Water Services			5.701		10/01/30		470,934
	2,730,000		Commonwealth Financing Authority			3.864		06/01/38		3,138,463
	12,450,000	i	Connecticut Housing Finance Authority	SOFR + 0.650%		0.730		05/15/49		12,445,891
	5,000,000		County of Alameda CA			3.820		08/01/38		5,576,150
	1,500,000		County of Miami-Dade FL Aviation Revenue			2.218		10/01/22		1,519,305
	12,020,000		County of Miami-Dade FL Water & Sewer System Revenue			3.490		10/01/42		12,888,806
	2,730,000		County of Saline AR			4.000		06/01/37		2,869,749
	3,500,000		District of Columbia			3.432		04/01/42		3,767,120
	1,900,000		District of Columbia Water & Sewer Authority			4.814		10/01/14		2,844,338
	1,550,000	†,g,q	Finance Authority of Maine			5.375		12/15/33		852,500
	500,000	†,q	Finance Authority of Maine			5.250		06/15/34		275,000
	20,000,000		Grant County Public Utility District No 2			2.918		01/01/40		20,792,000
	9,405,000		Grant County Public Utility District No 2			3.210		01/01/40		10,003,534
	9,375,000		Great Lakes Water Authority Sewage Disposal System Revenue			3.056		07/01/39		10,041,375
	13,265,000		Great Lakes Water Authority Water Supply System Revenue			3.473		07/01/41		14,454,473
	1,180,000		Idaho State Building Authority			3.202		09/01/37		1,259,414
	3,105,000		Jackson County Industrial Development Authority			4.250		05/01/39		3,394,603
	2,000,000		Kern County Water Agency Improvement District No 4			4.276		05/01/36		2,460,300
	450,000		Klickitat County Public Utilities			3.688		12/01/38		483,223
	1,000,000		Lavaca-Navidad River Authority			4.430		08/01/35		1,084,680
	3,300,000		Maryland Community Development Administration Housing Revenue			3.797		03/01/39		3,511,926
	3,000,000		Massachusetts St. Water Pollution Abatement			5.192		08/01/40		3,668,670
	6,000,000		Massachusetts Water Resources Authority			3.104		08/01/39		6,349,260
	10,735,000		Metropolitan Transportation Authority			5.175		11/15/49		11,720,580
	4,065,000		New York City Housing Development Corp			3.119		08/01/38		4,237,763
	2,500,000		New York City Housing Development Corp			3.720		11/01/39		2,683,450
	680,000		New York State Energy Research & Development Authority			4.577		04/01/35		699,509
	2,115,000		New York State Environmental Facilities Corp			3.420		07/15/26		2,405,791
	7,500,000		New York Transportation Development Corp			5.000		01/01/26		8,146,650

217

TIAA-CREF FUNDS – Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	1,500,000	g	Ohio Air Quality Development Authority			4.250	%	01/15/38	$	1,612,680
	2,000,000	g	Ohio Air Quality Development Authority			4.500		01/15/48		2,138,180
	13,180,000		Ohio State Water Development Authority			4.879		12/01/34		15,804,665
	5,750,000	†,g,q	Oregon State Business Development Commission			6.500		04/01/31		3,728,818
	2,000,000	q	Oregon State Business Development Commission			11.500		04/01/31		1,424,780
	2,665,000		Papio-Missouri River Natural Resource District			2.198		12/15/25		2,814,160
	2,080,000		Papio-Missouri River Natural Resource District			2.318		12/15/26		2,201,014
	3,250,000		Papio-Missouri River Natural Resource District			2.482		12/15/27		3,452,735
	2,725,000		Pend Oreille County Public Utility District No Box Canyon			5.000		01/01/30		2,840,349
	7,250,000	g	Pennsylvania Economic Development Financing Authority			10.000		12/01/29		7,380,355
	100,000	g	Pennsylvania Economic Development Financing Authority			5.750		06/01/36		97,772
	1,735,000	g	Public Finance Authority			0.000		06/01/29		1,723,063
	1,000,000		Rhode Island Housing & Mortgage Finance Corp			3.300		10/01/39		1,039,200
	1,450,000		Rhode Island Housing & Mortgage Finance Corp			3.400		10/01/44		1,499,677
	6,950,000		Rhode Island Housing & Mortgage Finance Corp			3.500		10/01/51		7,155,442
	1,000,000		San Francisco City & County Redevelopment Agency			3.533		08/01/25		1,100,590
	1,000,000		San Francisco City & County Redevelopment Agency			4.375		08/01/44		1,113,410
	250,000		Sangamon County Water Reclamation District			2.507		01/01/29		259,338
	2,500,000		Sangamon County Water Reclamation District			2.907		01/01/34		2,570,150
	2,050,000		Sangamon County Water Reclamation District			3.272		01/01/37		2,106,088
	3,000,000		Semitropic Improvement District			2.499		12/01/25		3,203,640
	380,000	g	South Davis Sewer District			3.750		12/01/22		383,051
	1,000,000		South Davis Sewer District			4.125		12/01/32		1,139,340
	1,100,000		South Davis Sewer District			4.500		12/01/37		1,259,896
	2,090,000		State of California			4.600		04/01/38		2,489,232
	2,480,000		State of California			4.988		04/01/39		2,665,777
	10,750,000	i	State of California	LIBOR 1 M + 0.780%		0.937		04/01/47		10,743,442
	1,000,000		State of Texas			3.726		08/01/43		1,063,210
	6,625,000		Stockton Public Financing Authority			3.610		10/01/40		6,975,529
	665,000		Sustainable Energy Utility, Inc			1.650		09/15/22		668,697
	2,400,000	g	Syracuse Industrial Development Agency			5.000		01/01/36		2,021,544
	1,000,000		Texas Water Development Board			3.500		10/15/37		1,125,510
	7,500,000		Texas Water Development Board			4.190		10/15/43		8,784,075
	3,000,000		Texas Water Development Board			3.700		10/15/47		3,320,100
	3,000,000		Texas Water Development Board			4.648		04/15/50		3,341,130
	2,000,000		University of New Mexico			3.532		06/20/32		2,189,740
	4,400,000		Upper Santa Clara Valley Joint Powers Authority			3.875		08/01/48		4,705,668
	5,000,000		Vermont Educational & Health Buildings Financing Agency			4.000		12/01/42		5,317,650
	750,000		Vermont Educational & Health Buildings Financing Agency			4.000		12/01/46		793,320
	1,000,000	g	Warm Springs Reservation Confederated Tribe			3.300		11/01/27		1,063,160
	1,250,000	g	Warm Springs Reservation Confederated Tribe			3.550		11/01/32		1,330,238
	530,000		Washington County Clean Water Services			5.078		10/01/24		619,793
	1,905,000	g	Washington Economic Development Finance Authority			7.500		01/01/32		1,428,750
	650,000		Yuba City Public Financing Authority			3.960		06/01/32		732,115
	1,500,000		Yuba City Public Financing Authority			4.320		06/01/42		1,671,045

218

TIAA-CREF FUNDS – Core Impact Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	1,000,000		Yuba Levee Financing Authority		3.170	%	09/01/22	$	1,039,680
			TOTAL MUNICIPAL BONDS						430,967,059
U.S. TREASURY SECURITIES - 8.9%
	2,500,000		United States Treasury Bond		3.125		05/15/48		3,475,586
	2,500,000		United States Treasury Bond		3.000		02/15/49		3,417,383
	20,543,200	k	United States Treasury Inflation Indexed Bonds		0.500		04/15/24		21,807,356
	12,621,375	k	United States Treasury Inflation Indexed Bonds		0.125		10/15/24		13,394,434
	1,795,000		United States Treasury Note		2.500		01/31/21		1,808,883
	5,000,000		United States Treasury Note		1.375		01/31/22		5,081,641
	7,500,000		United States Treasury Note		0.125		05/31/22		7,498,242
	34,600,000		United States Treasury Note		0.125		08/31/22		34,590,539
	5,700,000		United States Treasury Note		0.125		09/30/22		5,699,332
	40,488,000		United States Treasury Note		0.125		09/15/23		40,450,042
	1,092,000		United States Treasury Note		1.875		08/31/24		1,162,767
	1,395,000		United States Treasury Note		2.250		10/31/24		1,509,924
	620,000		United States Treasury Note		2.875		04/30/25		694,061
	40,557,000		United States Treasury Note		0.250		09/30/25		40,503,135
	140,000		United States Treasury Note		0.500		08/31/27		140,328
	2,800,000		United States Treasury Note		0.375		09/30/27		2,781,187
	155,157,000		United States Treasury Note		0.625		08/15/30		154,259,999
	185,621,000		United States Treasury Note		1.250		05/15/50		175,904,901
			TOTAL U.S. TREASURY SECURITIES						514,179,740
			TOTAL GOVERNMENT BONDS						2,775,266,015
			(Cost $2,706,908,217)
STRUCTURED ASSETS - 9.4%
ASSET BACKED - 3.8%
	324,688	g	AMSR Trust		1.819		04/17/37		331,037
			Series - 2020 SFR1 (Class A)
	450,000	g,i	AMSR Trust		3.148		01/19/39		464,153
			Series - 2019 SFR1 (Class C)
	400,000	g,i	AMSR Trust		3.247		01/19/39		409,047
			Series - 2019 SFR1 (Class D)
	5,000,000	g,i	AREIT Trust		1.172		09/14/36		4,926,418
			Series - 2019 CRE3 (Class A)
	98,507	i	Asset Backed Securities Corp Home Equity Loan Trust		3.386		08/25/34		97,017
			Series - 2004 HE5 (Class M1)
	350,000	i	Bayview Financial Mortgage Pass-Through Trust		1.120		02/28/41		346,887
			Series - 2006 A (Class M3)
	5,000,000	g,i	BFLD Trust		2.150		10/15/22		5,000,000
			Series - 2020 EYP (Class C)
	944,776	g	Capital Automotive REIT		3.660		10/15/44		947,606
			Series - 2014 1A (Class A)
	938,608	g	Capital Automotive REIT		3.870		04/15/47		940,271
			Series - 2017 1A (Class A1)
	228,207	i	C-BASS Trust		0.228		07/25/36		217,843
			Series - 2006 CB6 (Class A1)
	1,447,025	†,g,i	CBRE Realty Finance		0.576		04/07/52		0
			Series - 2007 1A (Class A2)
	1,847,161	i	Chase Funding Loan Acquisition Trust		1.003		06/25/34		1,803,936
			Series - 2004 OPT1 (Class M1)

219

TIAA-CREF FUNDS – Core Impact Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	90,000	i	Citigroup Mortgage Loan Trust		0.898	%	01/25/36	$	89,248
			Series - 2006 WFH1 (Class M4)
	1,048,886	g	Corevest American Finance Trust		1.832		03/15/50		1,047,490
			Series - 2020 1 (Class A1)
	975,000	g	DB Master Finance LLC		3.629		11/20/47		1,004,084
			Series - 2017 1A (Class A2I)
	1,856,250	g	DB Master Finance LLC		3.787		05/20/49		1,913,218
			Series - 2019 1A (Class A2I)
	864,000	g	Domino’s Pizza Master Issuer LLC		4.474		10/25/45		916,911
			Series - 2015 1A (Class A2II)
	3,014,750	g	Domino’s Pizza Master Issuer LLC		3.082		07/25/47		3,020,900
			Series - 2017 1A (Class A2II)
	784,000	g	Domino’s Pizza Master Issuer LLC		4.116		07/25/48		829,456
			Series - 2018 1A (Class A2I)
	609,785	g,i	Ellington Loan Acquisition Trust		1.248		05/25/37		608,277
			Series - 2007 2 (Class A2C)
	750,000	g	Ford Credit Auto Owner Trust		2.310		08/15/27		755,324
			Series - 2016 1 (Class A)
	6,150,000	†	Freddie Mac Multifamily Variable Rate Certificate		1.761		09/15/38		6,272,994
			Series - 2020 M061 (Class A)
	7,789,000	g	GSCG Trust		2.936		09/06/34		7,933,403
			Series - 2019 600C (Class A)
	1,241,907	g	HERO Funding Trust		3.840		09/21/40		1,305,512
			Series - 2015 1A (Class A)
	273,933	g	HERO Funding Trust		3.990		09/21/40		284,953
			Series - 2014 2A (Class A)
	1,468,891	g	HERO Funding Trust		3.750		09/20/41		1,520,462
			Series - 2016 2A (Class A)
	1,226,812	g	HERO Funding Trust		4.050		09/20/41		1,271,879
			Series - 2016 1A (Class A)
	3,144,694	g	HERO Funding Trust		3.080		09/20/42		3,188,132
			Series - 2016 3A (Class A1)
	2,837,173	g	HERO Funding Trust		3.910		09/20/42		2,931,190
			Series - 2016 3A (Class A2)
	44,451	g	HERO Funding Trust		4.500		09/21/42		44,622
			Series - 2016 1R (Class A1)
	2,776,551	g	HERO Funding Trust		3.570		09/20/47		2,888,779
			Series - 2016 4A (Class A1)
	2,640,692	g	HERO Funding Trust		3.710		09/20/47		2,763,209
			Series - 2017 1A (Class A1)
	411,341	g	HERO Funding Trust		4.290		09/20/47		432,119
			Series - 2016 4A (Class A2)
	4,523,119	g	HERO Funding Trust		3.190		09/20/48		4,660,647
			Series - 2017 3A (Class A1)
	4,232,348	g	HERO Funding Trust		3.950		09/20/48		4,438,196
			Series - 2017 3A (Class A2)
	1,757,642	g	HERO Funding Trust		4.070		09/20/48		1,856,288
			Series - 2017 2A (Class A2)
	6,254,363	g	HERO Funding Trust		4.670		09/20/48		6,710,183
			Series - 2018 1A (Class A2)
	4,393,567	g	HERO Funding Trust		2.720		09/20/57		4,401,178
			Series - 2020 1A (Class A)

220

TIAA-CREF FUNDS – Core Impact Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	47,909	i	Home Equity Asset Trust		3.986	%	06/25/33	$	47,852
			Series - 2003 1 (Class M1)
	100,000	g,i	Invitation Homes Trust		1.602		06/17/37		99,813
			Series - 2018 SFR2 (Class D)
	275,643	g,i	Invitation Homes Trust		1.151		07/17/37		275,686
			Series - 2018 SFR3 (Class A)
	650,272	g,i	Invitation Homes Trust		1.251		01/17/38		650,299
			Series - 2018 SFR4 (Class A)
	361,002	i	JP Morgan Mortgage Acquisition Trust		0.468		03/25/37		354,115
			Series - 2007 CH3 (Class A1B)
	2,205,389	i	JP Morgan Mortgage Acquisition Trust		0.308		06/25/37		2,155,225
			Series - 2007 CH5 (Class A1)
	2,898,273	g	Mosaic Solar Loan Trust		2.100		04/20/46		2,960,943
			Series - 2020 1A (Class A)
	3,682,233	g	Mosaic Solar Loan Trust		3.100		04/20/46		3,771,297
			Series - 2020 1A (Class B)
	3,529,809	g	Mosaic Solar Loans LLC		3.820		06/22/43		3,718,997
			Series - 2017 2A (Class A)
	290,000	g,i	MSCG Trust		3.577		06/07/35		220,201
			Series - 2015 ALDR (Class D)
	586,518	g	MVW Owner Trust		2.420		12/20/34		598,032
			Series - 2017 1A (Class A)
	118,835	g,i	Navient Student Loan Trust		0.398		06/27/67		118,786
			Series - 2018 4A (Class A1)
	2,193,916	g	Progress Residential Trust		2.897		12/17/34		2,201,041
			Series - 2017 SFR2 (Class A)
	4,000,000		PSNH Funding LLC		3.506		08/01/28		4,483,288
			Series - 2018 1 (Class A2)
	250,000	i	RASC Trust		3.080		08/25/35		249,150
			Series - 2005 KS8 (Class M4)
	1,231,575	g	Renew		3.670		09/20/52		1,278,510
			Series - 2017 1A (Class A)
	3,427,306	g	Renew		3.950		09/20/53		3,684,806
			Series - 2018 1 (Class A)
	82,497	g	SolarCity LMC		4.800		11/20/38		80,679
			Series - 2013 1 (Class A)
	3,140,588	g	SolarCity LMC		4.590		04/20/44		3,104,154
			Series - 2014 1 (Class A)
	707,937	g	SolarCity LMC		4.020		07/20/44		713,065
			Series - 2014 2 (Class A)
	3,014,971	g	SolarCity LMC		4.800		09/20/48		3,125,965
			Series - 2016 A (Class A)
	725,030	g,i	Starwood Waypoint Homes		1.102		01/17/35		724,197
			Series - 2017 1 (Class A)
	297,186	i	Structured Asset Securities Corp Mortgage Loan Trust		1.657		04/25/35		291,003
			Series - 2005 7XS (Class 2A1A)
	5,501,122	g	Sunrun Athena Issuer LLC		5.310		04/30/49		6,007,485
			Series - 2018 1 (Class A)
	7,096,402	g	Sunrun Atlas Issuer LLC		3.610		02/01/55		7,433,566
			Series - 2019 2 (Class A)
	16,953,817	g	Sunrun Callisto Issuer LLC		3.980		06/30/54		17,374,016
			Series - 2019 1A (Class A)
	10,341,914	g	TES LLC		4.330		10/20/47		10,548,377
			Series - 2017 1A (Class A)

221

TIAA-CREF FUNDS – Core Impact Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	2,500,000	g	TES LLC		7.740	%	10/20/47	$	2,283,555
			Series - 2017 1A (Class B)
	4,408,994	g	TES LLC		4.120		02/20/48		4,488,301
			Series - 2017 2A (Class A)
	18,348,273	g	Tesla Auto Lease Trust		3.710		08/20/21		18,520,546
			Series - 2018 B (Class A)
	4,072,441	g	Tesla Auto Lease Trust		2.130		04/20/22		4,117,763
			Series - 2019 A (Class A2)
	4,000,000	g	Tesla Auto Lease Trust		7.870		06/20/22		4,182,992
			Series - 2018 B (Class E)
	3,988,000	g	Tesla Auto Lease Trust		2.160		10/20/22		4,087,320
			Series - 2019 A (Class A3)
	4,125,000	g	Tesla Auto Lease Trust		2.200		11/21/22		4,239,523
			Series - 2019 A (Class A4)
	1,650,000	g	Tesla Auto Lease Trust		5.480		05/22/23		1,727,863
			Series - 2019 A (Class E)
	1,000,000	g	Tesla Auto Lease Trust		2.330		02/20/24		1,014,866
			Series - 2020 A (Class D)
	1,000,000	g	Tricon American Homes Trust		4.878		11/17/33		999,011
			Series - 2016 SFR1 (Class E)
	500,000	g	Tricon American Homes Trust		4.011		09/17/34		506,778
			Series - 2017 SFR1 (Class E)
	598,022	g	Tricon American Homes Trust		2.928		01/17/36		619,150
			Series - 2017 SFR2 (Class A)
	100,000	g	Tricon American Homes Trust		3.275		01/17/36		103,431
			Series - 2017 SFR2 (Class B)
	5,564,774	g	Vivint Colar Financing V LLC		4.730		04/30/48		5,724,045
			Series - 2018 1A (Class A)
	4,208,667	g	Vivint Colar Financing V LLC		7.370		04/30/48		4,270,742
			Series - 2018 1A (Class B)
	5,000,000	g	Vivint Solar Financing VII LLC		2.210		07/31/51		5,013,192
			Series - 2020 1A (Class A)
	1,458,750	g	Wendys Funding LLC		3.573		03/15/48		1,507,764
			Series - 2018 1A (Class A2I)
			TOTAL ASSET BACKED						218,250,259
OTHER MORTGAGE BACKED - 5.6%
	2,165,000	g,i	20 Times Square Trust		3.203		05/15/35		2,147,393
			Series - 2018 20TS (Class B)
	376,223	g,i	Agate Bay Mortgage Trust		3.500		11/25/44		389,607
			Series - 2014 3 (Class A13)
	58,556	g,i	Agate Bay Mortgage Trust		3.500		09/25/45		60,737
			Series - 2015 6 (Class A9)
	175,681	i	Alternative Loan Trust		0.648		06/25/34		174,095
			Series - 2004 8CB (Class M1)
	750,000		Banc of America Commercial Mortgage Trust		3.019		07/15/49		796,652
			Series - 2016 UB10 (Class ASB)
	2,000,000		BANK		3.203		12/15/52		2,215,681
			Series - 2019 BN23 (Class AS)
	5,000,000	g,i	BBCMS Mortgage Trust		4.409		08/05/38		3,423,070
			Series - 2018 CHRS (Class E)
	5,750,000	g	BBCMS Trust		3.593		09/15/32		5,931,552
			Series - 2015 MSQ (Class A)

222

TIAA-CREF FUNDS – Core Impact Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	200,000	g	BBCMS Trust		4.197	%	08/10/35	$	225,575
			Series - 2015 SRCH (Class A2)
	3,000,000	g,i	BBCMS Trust		3.688		02/15/53		3,031,437
			Series - 2020 C6 (Class F5TA)
	1,000,000		Benchmark Mortgage Trust		3.419		08/15/52		1,118,378
			Series - 2019 B12 (Class AS)
	5,500,000	g,i	Benchmark Mortgage Trust		4.029		03/15/62		5,680,390
			Series - 2019 B10 (Class 3CCA)
	2,500,000	g	BWAY Mortgage Trust		3.342		01/10/35		2,441,863
			Series - 2015 1740 (Class C)
	7,119,734	g,i	BX Commercial Mortgage Trust		1.072		10/15/36		7,117,596
			Series - 2019 XL (Class A)
	4,746,489	g,i	BX Commercial Mortgage Trust		1.402		10/15/36		4,733,149
			Series - 2019 XL (Class C)
	2,847,893	g,i	BX Commercial Mortgage Trust		1.952		10/15/36		2,830,331
			Series - 2019 XL (Class E)
	2,000,000	i	CD Mortgage Trust		3.879		11/10/49		2,169,655
			Series - 2016 CD2 (Class B)
	1,000,000	g	Citigroup Commercial Mortgage Trust		4.350		05/10/36		1,038,053
			Series - 2019 PRM (Class D)
	5,000,000	i	Citigroup Commercial Mortgage Trust		3.758		04/10/48		5,273,763
			Series - 2015 GC29 (Class B)
	4,800,000		Citigroup Commercial Mortgage Trust		3.300		11/10/52		5,326,445
			Series - 2019 GC43 (Class AS)
	5,000,000		Citigroup Commercial Mortgage Trust		3.018		08/10/56		5,501,920
			Series - 2019 GC41 (Class AS)
	2,250,000	g,i	Cityline Commercial Mortgage Trust		2.871		11/10/31		2,311,105
			Series - 2016 CLNE (Class A)
	6,000,000	g	COMM Mortgage Trust		2.681		08/10/29		6,040,334
			Series - 2016 GCT (Class A)
	270,000	g	COMM Mortgage Trust		3.086		08/10/29		271,232
			Series - 2016 GCT (Class B)
	2,815,000	g	COMM Mortgage Trust		4.353		08/10/30		3,009,106
			Series - 2013 300P (Class A1)
	3,519,000	g,i	COMM Mortgage Trust		5.463		08/10/46		2,876,026
			Series - 2013 LC13 (Class D)
	2,000,000		COMM Mortgage Trust		4.701		03/10/47		2,123,006
			Series - 2014 UBS2 (Class B)
	3,000,000	i	COMM Mortgage Trust		5.127		03/10/47		2,948,839
			Series - 2014 UBS2 (Class C)
	3,300,000	i	COMM Mortgage Trust		4.703		08/10/47		3,573,489
			Series - 2014 CR19 (Class B)
	1,000,000	g,i	COMM Mortgage Trust		4.868		08/10/47		882,882
			Series - 2014 CR19 (Class D)
	667,149		COMM Mortgage Trust		3.040		02/10/48		697,363
			Series - 2015 LC19 (Class ASB)
	3,500,000	g,i	COMM Mortgage Trust		4.244		03/10/48		3,063,698
			Series - 2015 CR22 (Class D)
	4,000,000	i	COMM Mortgage Trust		4.435		05/10/48		3,458,464
			Series - 2015 CR23 (Class D)
	360,000	i	COMM Mortgage Trust		3.463		08/10/48		301,002
			Series - 2015 CR24 (Class D)
	2,250,000		COMM Mortgage Trust		3.263		08/15/57		2,503,890
			Series - 2019 GC44 (Class AM)

223

TIAA-CREF FUNDS – Core Impact Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	693,461	i	Connecticut Avenue Securities		2.748	%	05/25/24	$	606,977
			Series - 2014 C02 (Class 1M2)
	1,557,566	i	Connecticut Avenue Securities		3.148		07/25/24		1,361,014
			Series - 2014 C03 (Class 1M2)
	182,989	i	Connecticut Avenue Securities		5.148		11/25/24		187,031
			Series - 2014 C04 (Class 2M2)
	126,945	i	Connecticut Avenue Securities		5.698		04/25/28		130,296
			Series - 2015 C04 (Class 2M2)
	209,539	i	Connecticut Avenue Securities		5.848		04/25/28		216,903
			Series - 2015 C04 (Class 1M2)
	248,610	i	Connecticut Avenue Securities		6.898		08/25/28		257,988
			Series - 2016 C01 (Class 1M2)
	642,013	i	Connecticut Avenue Securities		7.098		08/25/28		687,359
			Series - 2016 C01 (Class 2M2)
	1,190,307	i	Connecticut Avenue Securities		6.148		09/25/28		1,259,636
			Series - 2016 C02 (Class 1M2)
	1,018,861	i	Connecticut Avenue Securities		6.048		10/25/28		1,076,344
			Series - 2016 C03 (Class 2M2)
	1,992,872	i	Connecticut Avenue Securities		4.398		01/25/29		2,064,641
			Series - 2016 C04 (Class 1M2)
	2,034,391	i	Connecticut Avenue Securities		4.598		01/25/29		2,098,748
			Series - 2016 C05 (Class 2M2)
	751,716	i	Connecticut Avenue Securities		4.398		04/25/29		768,710
			Series - 2016 C06 (Class 1M2)
	92,936	i	Connecticut Avenue Securities		0.998		09/25/29		85,475
			Series - 2017 C02 (Class 2ED4)
	368,756	i	Connecticut Avenue Securities		2.348		01/25/30		370,605
			Series - 2017 C05 (Class 1M2A)
	746,215	i	Connecticut Avenue Securities		2.398		07/25/30		736,392
			Series - 2018 C01 (Class 1M2)
	243,320	i	Connecticut Avenue Securities		0.000		08/25/30		235,379
			Series - 2018 C02 (Class 2M2)
	302,177	i	Connecticut Avenue Securities		0.998		10/25/30		300,427
			Series - 2018 C03 (Class 1EA2)
	103,330	i	Connecticut Avenue Securities		2.698		12/25/30		101,489
			Series - 2018 C04 (Class 2M2)
	69,521	i	Connecticut Avenue Securities		2.248		03/25/31		68,305
			Series - 2018 C06 (Class 2M2)
	316,613	g,i	Connecticut Avenue Securities		2.598		07/25/31		314,630
			Series - 2019 R01 (Class 2M2)
	21,651	g,i	Connecticut Avenue Securities		2.248		09/25/39		21,475
			Series - 2019 R06 (Class 2M2)
	538,558	g,i	Connecticut Avenue Securities		0.948		01/25/40		536,323
			Series - 2020 R01 (Class 1M1)
	1,180,000	g,i	Connecticut Avenue Securities		2.148		01/25/40		1,149,480
			Series - 2020 R02 (Class 2M2)
	105,349	i	Countrywide Home Loan Mortgage Pass Through Trust		3.177		11/20/34		105,807
			Series - 2004 HYB6 (Class A2)
	14,000,000	g	CPT Mortgage Trust		2.865		11/13/39		15,239,263
			Series - 2019 CPT (Class A)
	2,000,000	g,i	CPT Mortgage Trust		3.097		11/13/39		1,884,446
			Series - 2019 CPT (Class E)

224

TIAA-CREF FUNDS – Core Impact Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	2,500,000	g,i	CPT Mortgage Trust		3.097	%	11/13/39	$	2,567,868
			Series - 2019 CPT (Class C)
	5,000,000	g,i	Credit Suisse Commercial Mortgage Trust		3.854		11/10/32		5,339,844
			Series - 2017 CALI (Class B)
	335,000	g,i	Credit Suisse Commercial Mortgage Trust		0.798		05/25/36		334,285
			Series - 2006 CF2 (Class M3)
	833,848	g,i	Credit Suisse Commercial Mortgage Trust		3.500		02/25/48		865,321
			Series - 2018 J1 (Class A11)
	3,600,000	g,i	CSAIL Commercial Mortgage Trust		3.800		06/15/37		3,379,228
			Series - 2017 C8 (Class 85BB)
	500,000	g,i	DBUBS Mortgage Trust		5.670		07/10/44		460,267
			Series - 2011 LC2A (Class D)
	300,000	g,i	Ellington Financial Mortgage Trust		3.587		06/25/59		299,711
			Series - 2019 1 (Class M1)
	263,600	i	Fieldstone Mortgage Investment Trust		0.883		12/25/35		261,914
			Series - 2005 2 (Class M2)
	2,260,238	g,i	FirstKey Mortgage Trust		3.500		11/25/44		2,331,451
			Series - 2014 1 (Class A8)
	281,594	g,i	Flagstar Mortgage Trust		4.102		10/25/47		293,432
			Series - 2017 2 (Class B3)
	130,384	g,i	Flagstar Mortgage Trust		4.000		09/25/48		133,587
			Series - 2018 5 (Class A11)
	3,600,000	g	GRACE Mortgage Trust		3.369		06/10/28		3,621,891
			Series - 2014 GRCE (Class A)
	1,500,000	g,i	GS Mortgage Securities Trust		1.242		10/15/31		1,473,926
			Series - 2018 HART (Class A)
	93,000	i	GS Mortgage Securities Trust		3.918		11/10/49		84,396
			Series - 2016 GS4 (Class C)
	2,000,000	g	GS Mortgage Securities Trust		3.000		02/10/52		1,762,834
			Series - 2019 GC38 (Class D)
	274,076	g,i	GS Mortgage-Backed Securities Corp Trust		4.000		11/25/49		281,958
			Series - 2019 PJ2 (Class A1)
	717,102	g,i	GS Mortgage-Backed Securities Corp Trust		4.000		11/25/49		734,909
			Series - 2019 PJ2 (Class A4)
	3,075,760	g,i	GS Mortgage-Backed Securities Corp Trust		3.500		07/25/50		3,122,705
			Series - 2020 PJ2 (Class A4)
	398,938	i	HarborView Mortgage Loan Trust		0.776		08/19/45		384,339
			Series - 2005 11 (Class 2A1A)
	3,500,000	g	Hudson Yards Mortgage Trust		2.835		08/10/38		3,758,024
			Series - 2016 10HY (Class A)
	2,500,000	g,i	Hudson Yards Mortgage Trust		3.076		08/10/38		2,645,438
			Series - 2016 10HY (Class B)
	5,750,000	g,i	Hudson Yards Mortgage Trust		3.076		08/10/38		5,987,778
			Series - 2016 10HY (Class C)
	2,500,000	g,i	Hudson Yards Mortgage Trust		3.076		08/10/38		2,360,386
			Series - 2016 10HY (Class E)
	14,000,000	g,i	Hudson Yards Mortgage Trust		3.558		07/10/39		14,394,631
			Series - 2019 30HY (Class D)
	1,500,000	g,i	Hudson Yards Mortgage Trust		3.041		12/10/41		1,483,761
			Series - 2019 55HY (Class D)
	5,000,000	g,i	Hudson Yards Mortgage Trust		3.041		12/10/41		4,668,990
			Series - 2019 55HY (Class E)
	2,500,000	g,i	Hudson Yards Mortgage Trust		3.041		12/10/41		2,192,958
			Series - 2019 55HY (Class F)

225

TIAA-CREF FUNDS – Core Impact Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	18,094	i	Impac CMB Trust		0.808	%	03/25/35	$	17,663
			Series - 2004 11 (Class 2A1)
	1,600,000	g,i	JP Morgan Chase Commercial Mortgage Securities Corp		4.214		01/15/46		1,566,762
			Series - 2013 C13 (Class D)
	466,871	g,i	JP Morgan Mortgage Trust		2.140		12/25/44		474,381
			Series - 2015 1 (Class B1)
	51,050	g,i	JP Morgan Mortgage Trust		3.500		05/25/45		52,561
			Series - 2015 3 (Class A19)
	657,868	g,i	JP Morgan Mortgage Trust		3.500		10/25/45		681,660
			Series - 2015 6 (Class A13)
	101,224	g,i	JP Morgan Mortgage Trust		3.500		05/25/46		103,779
			Series - 2016 1 (Class A13)
	111,412	g,i	JP Morgan Mortgage Trust		3.500		01/25/47		114,408
			Series - 2017 1 (Class A3)
	678,146	g,i	JP Morgan Mortgage Trust		3.500		05/25/47		687,112
			Series - 2017 2 (Class A5)
	220,860	g,i	JP Morgan Mortgage Trust		3.500		05/25/47		226,173
			Series - 2017 2 (Class A13)
	10,896	g,i	JP Morgan Mortgage Trust		3.500		08/25/47		10,938
			Series - 2017 3 (Class 1A5)
	452,578	g,i	JP Morgan Mortgage Trust		3.500		09/25/48		470,774
			Series - 2018 3 (Class A13)
	143,155	g,i	JP Morgan Mortgage Trust		3.500		10/25/48		149,659
			Series - 2018 4 (Class A13)
	597,870	g,i	JP Morgan Mortgage Trust		3.500		10/25/48		625,081
			Series - 2018 5 (Class A13)
	106,752	g,i	JP Morgan Mortgage Trust		4.000		01/25/49		107,171
			Series - 2018 8 (Class A5)
	162,556	g,i	JP Morgan Mortgage Trust		4.000		01/25/49		166,641
			Series - 2018 8 (Class A13)
	423,789	g,i	JP Morgan Mortgage Trust		4.000		02/25/49		434,392
			Series - 2018 9 (Class A13)
	485,743	g,i	JP Morgan Mortgage Trust		4.000		05/25/49		500,200
			Series - 2019 1 (Class A3)
	588,623	g,i	JP Morgan Mortgage Trust		4.000		05/25/49		603,825
			Series - 2019 1 (Class A15)
	32,071	g,i	JP Morgan Mortgage Trust		4.000		08/25/49		32,056
			Series - 2019 2 (Class A4)
	657,632	g,i	JP Morgan Mortgage Trust		4.781		09/25/49		701,566
			Series - 2019 3 (Class B1)
	2,224,559	g,i	JP Morgan Mortgage Trust		1.098		10/25/49		2,221,890
			Series - 2019 INV1 (Class A11)
	897,958	g,i	JP Morgan Mortgage Trust		3.877		06/25/50		945,769
			Series - 2020 1 (Class B2)
	2,400,000	i	JPMBB Commercial Mortgage Securities Trust		4.621		09/15/47		2,395,151
			Series - 2014 C23 (Class C)
	1,000,000	i	JPMBB Commercial Mortgage Securities Trust		4.445		02/15/48		999,877
			Series - 2015 C27 (Class C)
	169,402		JPMDB Commercial Mortgage Securities Trust		1.537		12/15/49		169,735
			Series - 2016 C4 (Class A1)
	940,006	g	Ladder Capital Commercial Mortgage Securities		3.575		02/15/36		998,439
			Series - 2013 GCP (Class A1)

226

TIAA-CREF FUNDS – Core Impact Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	10,000,000	g	Liberty Street Trust		3.597	%	02/10/36	$	10,978,910
			Series - 2016 225L (Class A)
	4,000,000	g,i	MAD Mortgage Trust		3.294		08/15/34		4,152,623
			Series - 2017 330M (Class A)
	2,350,000	g,i	Manhattan West		2.413		09/10/39		2,284,487
			Series - 2020 1MW (Class D)
	659,612		Morgan Stanley Bank of America Merrill Lynch Trust		3.069		02/15/48		691,106
			Series - 2015 C20 (Class ASB)
	308,712	i	Morgan Stanley Capital I Trust		0.973		08/25/34		306,631
			Series - 2004 HE6 (Class M1)
	425,000	g,i	Morgan Stanley Capital I Trust		0.852		11/15/34		423,645
			Series - 2017 CLS (Class A)
	1,000,000	g,i	Morgan Stanley Capital I Trust		5.675		09/15/47		1,002,897
			Series - 2011 C1 (Class D)
	170,666	†,i	Morgan Stanley Capital I Trust		6.467		12/12/49		101,717
			Series - 2007 IQ16 (Class AJFX)
	1,500,000	g,i	MSDB Trust		3.427		07/11/39		1,605,940
			Series - 2017 712F (Class A)
	3,450,000	g,i	Natixis Commercial Mortgage Securities Trust		3.917		11/15/32		3,561,259
			Series - 2018 285M (Class A)
	10,500,000	g,i	Natixis Commercial Mortgage Securities Trust		0.936		07/15/33		10,318,106
			Series - 2018 850T (Class A)
	11,000,000	g,i	Natixis Commercial Mortgage Securities Trust		4.402		07/15/36		10,131,647
			Series - 2019 MILE (Class F)
	118,970	i	New York Mortgage Trust		0.628		02/25/36		116,070
			Series - 2005 3 (Class A1)
	576,448	g,i	OBX Trust		0.798		06/25/57		575,584
			Series - 2018 1 (Class A2)
	682,706	g,i	OBX Trust		0.898		07/25/58		679,648
			Series - 2018 EXP2 (Class 2A1A)
	14,500,000	g	One Bryant Park Trust		2.516		09/15/54		15,418,661
			Series - 2019 OBP (Class A)
	2,750,000	g	One Market Plaza Trust		3.614		02/10/32		2,846,226
			Series - 2017 1MKT (Class A)
	44,143	g	Prima Capital CRE Securitization Ltd		2.550		08/24/49		44,063
			Series - 2015 4A (Class MR-A)
	601,025	g,i	Sequoia Mortgage Trust		3.500		05/25/45		621,769
			Series - 2015 2 (Class A1)
	167,270	g,i	Sequoia Mortgage Trust		3.500		06/25/46		173,564
			Series - 2016 1 (Class A19)
	195,725	g,i	Sequoia Mortgage Trust		3.500		11/25/46		199,720
			Series - 2016 3 (Class A10)
	679,529	g,i	Sequoia Mortgage Trust		3.500		02/25/47		685,178
			Series - 2017 1 (Class A4)
	975,959	g,i	Sequoia Mortgage Trust		3.500		04/25/47		988,835
			Series - 2017 3 (Class A4)
	539,315	g,i	Sequoia Mortgage Trust		3.500		04/25/47		560,166
			Series - 2017 3 (Class A19)
	85,884	g,i	Sequoia Mortgage Trust		3.500		09/25/47		87,685
			Series - 2017 6 (Class A19)
	231,260	g,i	Sequoia Mortgage Trust		3.743		09/25/47		244,546
			Series - 2017 6 (Class B1)

227

TIAA-CREF FUNDS – Core Impact Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	407,852	g,i	Sequoia Mortgage Trust		3.500	%	02/25/48	$	419,639
			Series - 2018 2 (Class A1)
	135,050	g,i	Sequoia Mortgage Trust		3.500		02/25/48		138,070
			Series - 2018 2 (Class A19)
	82,963	g,i	Sequoia Mortgage Trust		3.500		03/25/48		85,533
			Series - 2018 3 (Class A1)
	71,606	g,i	Sequoia Mortgage Trust		3.500		03/25/48		71,777
			Series - 2018 3 (Class A4)
	104,924	g,i	Sequoia Mortgage Trust		4.000		09/25/48		104,970
			Series - 2018 7 (Class A4)
	174,871	g,i	Sequoia Mortgage Trust		4.000		09/25/48		177,788
			Series - 2018 7 (Class A19)
	115,413	g,i	Sequoia Mortgage Trust		4.000		11/25/48		116,815
			Series - 2018 8 (Class A19)
	1,585,842	g,i	Sequoia Mortgage Trust		4.000		06/25/49		1,617,034
			Series - 2019 2 (Class A1)
	213,628	g,i	Sequoia Mortgage Trust		4.000		06/25/49		216,567
			Series - 2019 2 (Class A19)
	1,466,633	g,i	Sequoia Mortgage Trust		3.500		11/25/49		1,512,791
			Series - 2019 4 (Class A1)
	1,259,179	g,i	Sequoia Mortgage Trust		3.500		12/25/49		1,293,606
			Series - 2019 5 (Class A1)
	707,047	g,i	Sequoia Mortgage Trust		3.500		12/25/49		717,462
			Series - 2019 5 (Class A19)
	2,595,565	g,i	Sequoia Mortgage Trust		3.000		04/25/50		2,654,556
			Series - 2020 3 (Class A19)
	2,448,568	g,i	Shellpoint Co-Originator Trust		3.500		10/25/47		2,512,558
			Series - 2017 2 (Class A1)
	52,853	i	Structured Agency Credit Risk Debt Note (STACR)		4.298		01/25/25		52,987
			Series - 2015 DN1 (Class M3)
	1,126,504	i	STACR		4.798		10/25/28		1,170,231
			Series - 2016 DNA2 (Class M3)
	142,062	i	STACR		1.498		03/25/29		142,062
			Series - 2016 HQA3 (Class M2)
	326,176	i	STACR		3.398		07/25/29		334,031
			Series - 2017 DNA1 (Class M2)
	22,013	i	STACR		1.348		10/25/29		22,013
			Series - 2017 DNA2 (Class M1)
	17,440	i	STACR		1.948		07/25/30		17,135
			Series - 2018 DNA1 (Class M2)
	1,240,858	i	STACR		2.472		08/25/30		1,220,566
			Series - 2018 HQA1 (Class M2)
	75,521	g,i	STACR		3.721		02/25/48		75,920
			Series - 2018 SPI1 (Class M1)
	2,103,361	g,i	STACR		4.473		11/25/48		2,091,168
			Series - 2018 SPI4 (Class M2)
	1,702,900	g,i	STACR		2.198		11/25/49		1,680,633
			Series - 2019 HQA4 (Class M2)
	550,000	g,i	STACR		1.848		12/25/49		538,031
			Series - 2020 DNA1 (Class M2)
	360,000	g,i	STACR		1.998		02/25/50		350,473
			Series - 2020 DNA2 (Class M2)
	2,342,000	g,i	STACR		3.248		03/25/50		2,306,787
			Series - 2020 HQA2 (Class M2)

228

TIAA-CREF FUNDS – Core Impact Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	325,000	g	Tricon American Homes		2.049	%	07/17/38	$	330,937
			Series - 2020 SFR1 (Class B)
	12,640,000	g	VNDO Mortgage Trust		3.808		12/13/29		12,631,668
			Series - 2013 PENN (Class A)
	2,925,000	g,i	VNDO Trust		3.448		11/15/30		2,998,054
			Series - 2012 6AVE (Class C)
	2,711,000	g	VNDO Trust		3.805		01/10/35		2,990,826
			Series - 2016 350P (Class A)
	3,000,000	g,i	VNDO Trust		4.033		01/10/35		3,245,526
			Series - 2016 350P (Class B)
	305,823	i	Wachovia Bank Commercial Mortgage Trust		5.748		04/15/47		297,633
			Series - 2007 C31 (Class F)
	750,000		Wells Fargo Commercial Mortgage Trust		2.514		08/15/49		785,522
			Series - 2016 BNK1 (Class ASB)
	750,000		Wells Fargo Commercial Mortgage Trust		3.185		03/15/59		798,030
			Series - 2016 C33 (Class ASB)
	340,953	g,i	Wells Fargo Mortgage Backed Securities Trust		4.000		04/25/49		345,565
			Series - 2019 2 (Class A17)
	350,000	g,i	WFRBS Commercial Mortgage Trust		5.174		02/15/44		350,624
			Series - 2011 C2 (Class B)
	750,000		WFRBS Commercial Mortgage Trust		3.311		03/15/45		780,507
			Series - 2013 C11 (Class AS)
	650,000	i	WFRBS Commercial Mortgage Trust		4.845		12/15/46		606,957
			Series - 2013 C18 (Class C)
			TOTAL OTHER MORTGAGE BACKED						324,840,151
			TOTAL STRUCTURED ASSETS						543,090,410
			(Cost $536,382,268)
			TOTAL BONDS						5,687,216,858
			(Cost $5,499,236,981)
SHARES			COMPANY
PREFERRED STOCKS - 0.7%
REAL ESTATE - 0.3%
	400,000		Brookfield Property Partners LP						7,932,000
	695,000		Brookfield Property Partners LP						12,419,650
			TOTAL REAL ESTATE						20,351,650
UTILITIES - 0.4%
	490,000	*,‡	Brookfield Infrastructure Partners LP						12,617,500
	308,000	‡	Brookfield Renewable Partners LP						8,103,480
			TOTAL UTILITIES						20,720,980
			TOTAL PREFERRED STOCKS						41,072,630
			(Cost $47,325,000)
PRINCIPAL			ISSUER
SHORT-TERM INVESTMENTS - 14.3%
GOVERNMENT AGENCY DEBT - 5.5%
$	5,000,000		Federal Farm Credit Bank (FFCB)		0.120		02/12/21		4,998,139

229

TIAA-CREF FUNDS – Core Impact Bond Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE
$	38,906,000	Federal Home Loan Bank (FHLB)		0.085-0.130	%	10/07/20	$	38,905,611
	18,475,000	FHLB		0.075-0.080		10/14/20		18,474,600
	25,000,000	FHLB		0.095		10/20/20		24,999,208
	20,460,000	FHLB		0.060-0.070		10/21/20		20,459,318
	26,450,000	FHLB		0.090-0.100		10/23/20		26,449,030
	50,000,000	FHLB		0.080-0.090		10/26/20		49,997,917
	23,493,000	FHLB		0.070-0.110		11/06/20		23,491,356
	4,821,000	FHLB		0.090		11/13/20		4,820,597
	19,985,000	FHLB		0.080-0.090		11/20/20		19,983,057
	23,600,000	FHLB		0.095		11/25/20		23,597,476
	23,375,000	FHLB		0.105		12/10/20		23,370,909
	12,500,000	FHLB		0.115		02/24/21		12,494,930
	25,000,000	FHLB		0.105		03/26/21		24,987,778
		TOTAL GOVERNMENT AGENCY DEBT						317,029,926
TREASURY DEBT - 8.8%
	51,960,000	United States Cash Management Bill		0.065-0.081		10/13/20		51,958,809
	30,000,000	United States Cash Management Bill		0.115		11/03/20		29,997,448
	39,225,000	United States Cash Management Bill		0.106		11/10/20		39,221,404
	29,600,000	United States Cash Management Bill		0.082		11/17/20		29,596,329
	61,270,000	United States Cash Management Bill		0.110-0.116		12/22/20		61,258,138
	7,675,000	United States Cash Management Bill		0.095		12/29/20		7,673,292
	20,000,000	United States Cash Management Bill		0.106		01/05/21		19,994,933
	47,100,000	United States Cash Management Bill		0.101-0.116		01/19/21		47,084,889
	36,265,000	United States Treasury Bill		0.127-0.140		10/01/20		36,265,000
	50,000,000	United States Treasury Bill		0.081		10/06/20		49,999,531
	24,095,000	United States Treasury Bill		0.083-0.110		10/22/20		24,093,770
	10,000,000	United States Treasury Bill		0.079		11/05/20		9,999,101
	20,000,000	United States Treasury Bill		0.075		11/19/20		19,997,550
	51,907,000	United States Treasury Bill		0.089-0.096		12/03/20		51,897,916
	29,770,000	United States Treasury Bill		0.115		12/31/20		29,762,098
		TOTAL TREASURY DEBT						508,800,208
		TOTAL SHORT-TERM INVESTMENTS						825,830,134
		(Cost $825,817,251)
		TOTAL INVESTMENTS - 113.2%						6,561,598,914
		(Cost $6,379,806,295)
		OTHER ASSETS & LIABILITIES, NET - (13.2)%						(763,000,063	)
		NET ASSETS - 100.0%					$	5,798,598,851

	Abbreviation(s):
EUR	Euro
LIBOR	London Interbank Offered Rate
M	Month
REIT	Real Estate Investment Trust
SOFR	Secure Overnight Financing Rate

230

TIAA-CREF FUNDS – Core Impact Bond Fund

*	Non-income producing
†	Security is categorized as Level 3 in the fair value hierarchy.
‡	Perpetual security
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933, as amended. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 9/30/2020, the aggregate value of these securities is $1,302,887,495 or 22.5% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.
i	Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.
k	Principal amount for interest accrual purposes is periodically adjusted based on changes in the Consumer Price Index.
q	In default

Forward foreign currency contracts outstanding as of September 30, 2020 were as follows:

Currency to be purchased	Receive	Currency to be sold	Deliver	Counterparty	Settlement date	Unrealized appreciation (depreciation)
$	2,904,040	EUR	2,471,223	BANK OF AMERICA, N.A.	11/30/20	$               2,998

	Abbreviation(s):
EUR	Euro

231

TIAA-CREF FUNDS – Core Plus Bond Fund

TIAA-CREF FUNDS
CORE PLUS BOND FUND
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2020

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
BANK LOAN OBLIGATIONS - 2.0%
AUTOMOBILES & COMPONENTS - 0.0%
$	1,738,712	i	Clarios Global LP	LIBOR 1 M + 3.500%		3.647	%	04/30/26	$	1,691,437
	1,205,398	i	Gates Global LLC	LIBOR 1 M + 2.750%		3.750		04/01/24		1,185,810
			TOTAL AUTOMOBILES & COMPONENTS							2,877,247
CAPITAL GOODS - 0.1%
	1,024,838	i	CHI Overhead Doors, Inc	LIBOR 3 M + 3.250%		4.250		07/31/22		1,013,309
	301,851	i	Penn Engineering & Manufacturing Corp	LIBOR 3 M + 2.750%		3.750		06/27/24		294,305
	244,930	i	PODS LLC	LIBOR 3 M + 2.750%		3.750		12/06/24		239,522
	482,500	i	Proampac PG Borrower LLC	LIBOR 3 M + 3.500%		4.500		11/20/23		475,745
	492,475	i	Prometric Holdings Inc	LIBOR 1 M + 3.000%		4.000		01/29/25		456,770
	1,473,170	i	TransDigm, Inc	LIBOR 1 M + 2.250%		2.397		12/09/25		1,390,304
			TOTAL CAPITAL GOODS							3,869,955
COMMERCIAL & PROFESSIONAL SERVICES - 0.3%
	2,158,688	i	Allied Universal Holdco LLC	LIBOR 1 M + 4.250%		4.397		07/10/26		2,132,481
	997,500	i	Amentum Government Services Holdings LLC	LIBOR 1 M + 3.500%		3.647		01/29/27		980,463
	1,935,000	i	Clean Harbors, Inc	LIBOR 3 M + 1.750%		1.897		06/28/24		1,928,227
	1,590,575	h,i	GFL Environmental, Inc	LIBOR 3 M + 3.000%		4.000		05/30/25		1,581,827
	596,939	i	Packers Holdings LLC	LIBOR 3 M + 3.250%		4.000		12/04/24		585,000
	1,400,589	h,i	Prime Security Services Borrower LLC	LIBOR 1 and 3 M + 3.250%		4.250		09/23/26		1,386,331
	1,732,159	i	Spin Holdco, Inc	LIBOR 3 M + 3.250%		4.250		11/14/22		1,694,121
	2,516,222	i	Trans Union LLC	LIBOR 1 M + 1.750%		1.897		11/16/26		2,449,768
	1,112,704	i	WASH Multifamily Laundry Systems LLC	LIBOR 1 M + 3.250%		4.250		05/16/22		1,089,215
	195,382	i	WASH Multifamily Laundry Systems LLC	LIBOR 1 M + 3.250%		4.250		05/16/22		191,257
	1,436,533	i	West Corp	LIBOR 1 M + 4.000%		5.000		10/10/24		1,300,206
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES							15,318,896
CONSUMER DURABLES & APPAREL - 0.0%
	496,154	i	Wilsonart LLC	LIBOR 3 M + 3.250%		4.250		12/19/23		491,192
			TOTAL CONSUMER DURABLES & APPAREL							491,192
CONSUMER SERVICES - 0.2%
	360,000	i	Caesars Resort Collection LLC	LIBOR 1 M + 4.500%		4.647		07/21/25		347,901
	2,373,992	i,q	CDS US Intermediate Holdings, Inc	LIBOR 2 W + 5.500%		6.500		07/08/22		1,141,795
	1,728,823	i	KUEHG Corp	LIBOR 3 M + 3.750%		4.750		02/21/25		1,577,015
	2,236,894	i	Scientific Games International, Inc	LIBOR 1 and 3 M + 2.750%		2.897		08/14/24		2,099,571
	1,475,328	i	Sterling Midco Holdings, Inc	LIBOR 3 M + 3.500%		4.500		06/19/24		1,321,525
	1,989,796	i	YUM! Brands	LIBOR 1 M + 1.750%		1.900		04/03/25		1,939,633
			TOTAL CONSUMER SERVICES							8,427,440
DIVERSIFIED FINANCIALS - 0.0%
	374,909	i	Lions Gate Capital Holdings LLC	LIBOR 1 M + 2.250%		2.397		03/24/25		360,850
	375,000	h,i	Reynolds Group Holdings, Inc	Prime 3 M + 1.750%		2.897		02/06/23		367,875
			TOTAL DIVERSIFIED FINANCIALS							728,725

232

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
ENERGY - 0.0%
$	839,375	i	ChampionX Holding, Inc	LIBOR 3 M + 5.000%		6.000	%	06/03/27	$	834,129
	646,750	i	Delek US Holdings, Inc	LIBOR 1 M + 5.500%		6.500		04/01/25		629,773
			TOTAL ENERGY							1,463,902
FOOD, BEVERAGE & TOBACCO - 0.0%
	600,000	i	Froneri US, Inc	LIBOR 1 M + 2.250%		2.397		01/29/27		575,358
			TOTAL FOOD, BEVERAGE & TOBACCO							575,358
HEALTH CARE EQUIPMENT & SERVICES - 0.2%
	2,003,708	i	Change Healthcare Holdings LLC	LIBOR 1 M + 2.500%		3.500		03/01/24		1,958,945
	448,875	i	Da Vinci Purchaser Corp	LIBOR 3 M + 4.000%		5.238		01/08/27		442,891
	1,383,887	i	Endo Luxembourg Finance I Co Sarl	LIBOR 3 M + 4.250%		5.000		04/29/24		1,314,693
	989,718	i	ExamWorks Group Inc	LIBOR 3 M + 3.250%		4.250		07/27/23		981,552
	1,488,731	i	Gentiva Health Services, Inc	LIBOR 1 M + 3.250%		3.438		07/02/25		1,456,173
	541,932	i	Greatbatch Ltd	LIBOR 1 M + 2.500%		3.500		10/27/22		540,068
	1,267,907	i	RegionalCare Hospital Partners Holdings, Inc	LIBOR 1 M + 3.750%		3.897		11/16/25		1,229,870
	2,000,000	i	Select Medical Corp	LIBOR 3 M + 2.500%		2.780		03/06/25		1,942,500
			TOTAL HEALTH CARE EQUIPMENT & SERVICES							9,866,692
INSURANCE - 0.1%
	217,744	i	Acrisure LLC	LIBOR 1 M + 3.500%		3.647		02/15/27		209,851
	1,553,488	i	Asurion LLC	LIBOR 1 M + 3.000%		3.147		08/04/22		1,533,743
	329,504	i	Asurion LLC	LIBOR 1 M + 3.000%		3.147		11/03/23		324,288
	751,515	i	Asurion LLC	LIBOR 1 M + 6.500%		6.647		08/04/25		751,673
	992,500	i	HUB International Ltd	LIBOR 1 M + 4.000%		5.000		04/25/25		987,845
	1,984,655	i	USI, Inc	LIBOR 3 M + 3.000%		3.220		05/16/24		1,916,839
			TOTAL INSURANCE							5,724,239
MATERIALS - 0.2%
	1,300,000	i	Asplundh Tree Expert LLC	LIBOR 1 M + 2.500%		2.655		09/07/27		1,297,569
	491,444	i	Atotech Alpha 3 BV	LIBOR 3 M + 3.000%		4.000		01/31/24		483,050
	2,000,000	i	Berry Global, Inc	LIBOR 1 M + 2.000%		2.156		10/01/22		1,980,940
	680,178	i	Flex Acquisition Co, Inc	LIBOR 3 M + 3.000%		4.000		12/31/23		664,024
	198,912	i	H.B. Fuller Co	LIBOR 3 M + 2.000%		2.156		10/21/24		196,004
	1,174,911	i	Messer Industries USA, Inc	LIBOR 3 M + 2.500%		2.720		03/01/26		1,148,475
	401,448	i	Plastipak Holdings, Inc	LIBOR 3 M + 2.500%		2.650		10/15/24		394,591
	400,000	i	PQ Corp	LIBOR 1 M + 3.000%		4.000		02/08/27		397,600
	1,207,548	i	Quikrete Holdings, Inc	LIBOR 1 M + 2.500%		2.656		02/01/27		1,173,833
	548,090	i	Tronox Finance LLC	LIBOR 1 and 3 M + 3.000%		3.220		09/23/24		538,696
	1,492,500	i	Zekelman Industries, Inc	LIBOR 1 M + 2.000%		2.145		01/25/27		1,442,591
			TOTAL MATERIALS							9,717,373
MEDIA & ENTERTAINMENT - 0.2%
	300,000	i	Banijay Group US Holding, Inc	LIBOR 1 M + 3.750%		3.907		03/04/25		293,250
	200,000	i	Cablevision Lightpath LLC	LIBOR 3 M + 3.250%		4.250		12/31/27		198,750
	1,507,940	i	CSC Holdings LLC	LIBOR 1 M + 2.250%		2.402		07/17/25		1,456,232
	990,000	i	Diamond Sports Group LLC	LIBOR 1 M + 3.250%		3.400		08/24/26		763,953
	695,678	i	EIG Investors Corp	LIBOR 3 M + 3.750%		4.750		02/09/23		692,026

233

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	250,000	i	GOBP Holdings, Inc	LIBOR 1 M + 2.750%		2.901	%	10/22/25	$	245,520
	450,000	i	Match Group, Inc	LIBOR 1 M + 1.750%		2.004		02/07/27		440,064
	1,371,563	i	Nielsen Finance LLC	LIBOR 1 M + 3.750%		4.750		06/06/25		1,368,819
	496,250	i	Pregis TopCo Corp	LIBOR 1 M + 3.750%		3.897		07/31/26		488,558
	400,000	h,i	Radiate Holdco LLC	LIBOR 1 M + 3.500%		4.250		09/11/26		392,500
	275,000	i	SkyMiles IP Ltd	LIBOR 1 M + 3.750%		4.750		10/20/27		276,818
	769,188	i	Terrier Media Buyer, Inc	LIBOR 1 M + 4.250%		4.397		12/17/26		749,135
	1,865,154	i	Univision Communications, Inc	LIBOR 1 M + 3.750%		4.750		03/15/26		1,812,538
	850,000	i	Vertical US Newco, Inc	LIBOR 6 M + 4.250%		4.570		07/31/27		841,959
			TOTAL MEDIA & ENTERTAINMENT							10,020,122
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.1%
	523,463	i	Alphabet Holding Co, Inc	LIBOR 1 M + 3.500%		3.647		09/26/24		507,854
	1,807,979	i	Bausch Health Americas, Inc	LIBOR 1 M + 3.000%		3.151		06/02/25		1,769,939
	1,733,666	i	Jaguar Holding Co II	LIBOR 1 M + 2.500%		3.500		08/18/22		1,725,778
	997,169	i	PAREXEL International Corp	LIBOR 3 M + 2.750%		2.897		09/27/24		955,418
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES							4,958,989
REAL ESTATE - 0.0%
	1,252,441	i	Cushman & Wakefield plc	LIBOR 1 M + 2.750%		2.897		08/21/25		1,205,023
			TOTAL REAL ESTATE							1,205,023
RETAILING - 0.1%
	1,315,063	i	Camelot Finance S.A.	LIBOR 1 M + 3.000%		3.147		10/28/26		1,288,354
	215,485	i	FBB Holdings III, Inc	LIBOR 1 M + 9.000%		10.000		02/07/24		183,163
	889,346	i,q	Men’s Wearhouse, Inc	LIBOR 3 M + 3.250%		4.250		04/09/25		266,804
	1,842,740	i	PetSmart, Inc	LIBOR 1 M + 3.500%		4.500		03/11/22		1,837,138
	806,830	i	Sally Holdings LLC	LIBOR 1 M + 2.250%		2.400		07/05/24		778,590
	1,950,313	i	Staples, Inc	LIBOR 3 M + 5.000%		5.251		04/16/26		1,809,519
			TOTAL RETAILING							6,163,568
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.0%
	675,404	i	MKS Instruments, Inc	LIBOR 1 M + 1.750%		1.897		02/02/26		664,091
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT							664,091
SOFTWARE & SERVICES - 0.1%
	1,244,155	i	Mitchell International, Inc	LIBOR 3 M + 3.250%		3.397		11/29/24		1,186,750
	119,700	i	Presidio Holdings, Inc	LIBOR 1 M + 3.500%		3.770		01/22/27		117,980
	125,000	i	Ultimate Software Group, Inc	LIBOR 3 M + 4.000%		4.750		05/04/26		124,547
	1,750,000	i	Web.com Group Inc	LIBOR 1 M + 3.750%		3.901		10/10/25		1,687,437
			TOTAL SOFTWARE & SERVICES							3,116,714
TECHNOLOGY HARDWARE & EQUIPMENT - 0.1%
	1,979,950	i	Dell International LLC	LIBOR 1 M + 2.000%		2.750		09/19/25		1,969,516
	215,302	i	MTS Systems Corp	LIBOR 3 M + 3.250%		4.000		07/05/23		212,072
	2,506,404	i	Western Digital Corp	LIBOR 1 M + 1.750%		1.906		04/29/23		2,482,242
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT							4,663,830
TELECOMMUNICATION SERVICES - 0.1%
	1,146,338	i	CNT Holdings III Corp	LIBOR 1 M + 3.000%		4.000		01/22/23		1,143,953
	696,500	i	Front Range BidCo, Inc	LIBOR 1 M + 3.000%		3.147		03/09/27		674,985
	2,867,813	i	T-Mobile USA, Inc	LIBOR 1 M + 3.000%		3.147		04/01/27		2,863,454
			TOTAL TELECOMMUNICATION SERVICES							4,682,392

234

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
TRANSPORTATION - 0.1%
$	1,521,188	i	Delta Air Lines, Inc	LIBOR 3 M + 4.750%		5.750	%	05/01/23	$	1,517,385
	1,990,000	i	Genesee & Wyoming, Inc	LIBOR 1 M + 2.000%		2.220		12/30/26		1,955,493
	475,000	i	Mileage Plus Holdings LLC	LIBOR 3 M + 5.250%		6.250		06/18/27		482,391
	1,196,736	i	XPO Logistics, Inc	LIBOR 1 M + 2.000%		2.147		02/24/25		1,171,712
			TOTAL TRANSPORTATION							5,126,981
UTILITIES - 0.1%
	468,882	i	AssuredPartners, Inc	LIBOR 1 M + 3.500%		3.646		02/12/27		454,647
	995,000	i	AssuredPartners, Inc	LIBOR 1 M + 4.500%		5.500		02/12/27		990,443
	1,984,435	i	Gopher Resource LLC	LIBOR 3 M + 3.250%		4.250		03/06/25		1,919,941
	1,462,595	i	ProQuest LLC	LIBOR 1 M + 3.500%		3.647		10/23/26		1,443,216
	427,500	i	Talen Energy Supply LLC	LIBOR 1 M + 3.750%		3.897		06/26/26		421,442
			TOTAL UTILITIES							5,229,689
			TOTAL BANK LOAN OBLIGATIONS							104,892,418
			(Cost $108,135,729)
BONDS - 94.4%
CORPORATE BONDS - 42.5%
AUTOMOBILES & COMPONENTS - 0.7%
	350,000	g	Adient Global Holdings Ltd			4.875		08/15/26		333,375
	350,000	g	Adient US LLC			9.000		04/15/25		385,875
	720,000	g	Allison Transmission, Inc			5.000		10/01/24		727,243
	1,625,000	g	Clarios Global LP			6.750		05/15/25		1,710,312
	1,500,000	g	Dana Financing Luxembourg SARL			6.500		06/01/26		1,563,750
	575,000		Dana, Inc			5.375		11/15/27		589,375
	350,000		Dana, Inc			5.625		06/15/28		361,375
	750,000		Ford Motor Co			8.500		04/21/23		817,500
	775,000		Ford Motor Co			9.000		04/22/25		888,545
	1,000,000		Ford Motor Co			7.450		07/16/31		1,146,810
	4,900,000	g	Gates Global LLC			6.250		01/15/26		5,034,750
	3,300,000		General Motors Co			6.125		10/01/25		3,832,693
	2,300,000		General Motors Co			5.000		10/01/28		2,586,620
	1,350,000		General Motors Co			6.600		04/01/36		1,640,927
	3,325,000		General Motors Co			5.200		04/01/45		3,576,306
	750,000		General Motors Co			6.750		04/01/46		923,522
	10,000,000		Goodyear Tire & Rubber Co			9.500		05/31/25		10,850,300
	250,000	g,o	IHO Verwaltungs GmbH			4.750		09/15/26		253,125
	1,450,000		Magna International, Inc			3.625		06/15/24		1,596,720
			TOTAL AUTOMOBILES & COMPONENTS							38,819,123
BANKS - 7.9%
	2,000,000	g	Akbank T.A.S.			6.800		02/06/26		1,937,519
	2,000,000	g	Akbank T.A.S.			6.797		04/27/28		1,743,600
	2,450,000	g	Australia & New Zealand Banking Group Ltd			2.950		07/22/30		2,538,763
	3,000,000	g	Banco del Estado de Chile			2.668		01/08/21		3,007,500
	2,375,000	g	Banco del Estado de Chile			2.704		01/09/25		2,496,742
	3,000,000	g	Banco Internacional del Peru SAA Interbank			4.000		07/08/30		3,015,000

235

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	1,000,000		Banco Santander S.A.		2.746	%	05/28/25	$	1,050,830
	1,905,000		Banco Santander S.A.		3.800		02/23/28		2,093,467
	2,000,000		Bancolombia S.A.		4.625		12/18/29		1,942,500
	2,000,000	g	Banistmo S.A.		4.250		07/31/27		2,034,000
	3,000,000	g	Bank Leumi Le-Israel BM		3.275		01/29/31		3,014,940
	2,150,000		Bank of America Corp		3.875		08/01/25		2,440,788
	5,000,000		Bank of America Corp		0.981		09/25/25		4,998,786
	11,975,000		Bank of America Corp		2.456		10/22/25		12,627,801
	3,850,000		Bank of America Corp		4.250		10/22/26		4,455,534
	2,735,000		Bank of America Corp		3.248		10/21/27		3,020,554
	3,000,000		Bank of America Corp		3.824		01/20/28		3,399,071
	5,004,000		Bank of America Corp		3.419		12/20/28		5,573,705
	3,625,000		Bank of America Corp		2.884		10/22/30		3,912,759
	20,250,000		Bank of America Corp		2.496		02/13/31		21,108,376
	5,525,000		Bank of America Corp		2.592		04/29/31		5,834,325
	4,025,000		Bank of America Corp		1.898		07/23/31		4,007,290
	2,000,000		Bank of America Corp		4.083		03/20/51		2,471,223
	630,000		Bank of America Corp		6.300		N/A‡		711,963
	7,000,000		Bank of America Corp		6.100		N/A‡		7,620,270
	1,500,000		Barclays plc		4.338		05/16/24		1,610,213
	3,000,000		Barclays plc		3.932		05/07/25		3,230,277
	6,855,000		Barclays plc		6.125		N/A‡		6,949,256
	3,300,000	g	BNP Paribas S.A.		2.819		11/19/25		3,481,154
	100,000	g	BNP Paribas S.A.		4.375		05/12/26		111,922
	1,050,000	g	BNP Paribas S.A.		2.219		06/09/26		1,082,831
	1,800,000	g	BNP Paribas S.A.		1.904		09/30/28		1,791,749
	2,200,000	g	BNP Paribas S.A.		3.052		01/13/31		2,363,042
	1,600,000	g	BNP Paribas S.A.		2.588		08/12/35		1,552,648
	925,000	g	BNP Paribas S.A.		6.625		N/A‡		979,344
	1,800,000	g	BPCE S.A.		4.625		07/11/24		1,982,014
	6,735,000		Citigroup, Inc		1.678		05/15/24		6,898,993
	1,625,000		Citigroup, Inc		3.875		03/26/25		1,787,672
	5,895,000		Citigroup, Inc		3.200		10/21/26		6,500,004
	2,805,000		Citigroup, Inc		4.300		11/20/26		3,210,649
	6,070,000		Citigroup, Inc		4.450		09/29/27		7,031,015
	11,200,000		Citigroup, Inc		2.666		01/29/31		11,779,956
	8,300,000		Citigroup, Inc		4.412		03/31/31		9,954,545
	2,135,000		Citigroup, Inc		2.572		06/03/31		2,244,072
	7,500,000		Citigroup, Inc		6.300		N/A‡		7,856,250
	10,000,000		Citigroup, Inc		5.000		N/A‡		9,950,000
	1,525,000		Citizens Bank NA		2.650		05/26/22		1,575,802
	1,380,000		Cooperatieve Rabobank UA		3.950		11/09/22		1,466,254
	1,350,000	g	Cooperatieve Rabobank UA		2.625		07/22/24		1,440,405
	5,725,000		Cooperatieve Rabobank UA		3.750		07/21/26		6,374,582
	1,325,000	g	Credicorp Ltd		2.750		06/17/25		1,341,562
	2,325,000	g	Credit Agricole S.A.		3.250		10/04/24		2,512,418
	3,000,000	g	Credit Agricole S.A.		1.907		06/16/26		3,067,455
	830,000	g	Danske Bank AS		5.375		01/12/24		933,453
	1,525,000	g	DBS Group Holdings Ltd		4.520		12/11/28		1,665,239
	1,206,000		Discover Bank		3.200		08/09/21		1,230,251
	2,450,000		Discover Bank		2.450		09/12/24		2,584,348
	800,000		Discover Bank		4.250		03/13/26		910,239
	1,625,000		Discover Bank		3.450		07/27/26		1,778,455
	1,375,000		Discover Bank		2.700		02/06/30		1,437,810

236

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	6,600,000		Fifth Third Bancorp		4.500	%	N/A‡	$	6,641,250
	1,100,000		HSBC Holdings plc		3.033		11/22/23		1,147,378
	1,775,000		HSBC Holdings plc		2.633		11/07/25		1,848,889
	1,850,000		HSBC Holdings plc		1.645		04/18/26		1,844,786
	1,300,000		HSBC Holdings plc		3.900		05/25/26		1,436,586
	5,675,000		HSBC Holdings plc		4.292		09/12/26		6,319,270
	630,000		HSBC Holdings plc		4.375		11/23/26		694,808
	1,250,000		HSBC Holdings plc		4.041		03/13/28		1,380,829
	1,200,000		HSBC Holdings plc		2.013		09/22/28		1,187,168
	1,325,000		HSBC Holdings plc		4.950		03/31/30		1,594,688
	2,200,000		HSBC Holdings plc		3.973		05/22/30		2,461,426
	1,200,000		HSBC Holdings plc		2.357		08/18/31		1,187,688
	990,000		Huntington Bancshares, Inc		4.000		05/15/25		1,127,808
	5,000,000		Huntington Bancshares, Inc		5.625		N/A‡		5,500,000
	2,625,000		Huntington National Bank		2.500		08/07/22		2,719,801
	1,075,000	g	ING Groep NV		4.625		01/06/26		1,260,553
	3,400,000	g	ING Groep NV		1.400		07/01/26		3,438,025
	1,100,000		ING Groep NV		3.950		03/29/27		1,259,887
	700,000		JPMorgan Chase & Co		2.700		05/18/23		739,171
	5,000,000		JPMorgan Chase & Co		3.875		09/10/24		5,530,437
	660,000		JPMorgan Chase & Co		3.900		07/15/25		746,406
	5,525,000		JPMorgan Chase & Co		2.301		10/15/25		5,811,934
	350,000		JPMorgan Chase & Co		3.200		06/15/26		388,116
	13,880,000		JPMorgan Chase & Co		3.702		05/06/30		15,920,056
	3,825,000		JPMorgan Chase & Co		2.739		10/15/30		4,117,837
	5,000,000		JPMorgan Chase & Co		4.493		03/24/31		6,092,684
	4,570,000		JPMorgan Chase & Co		2.522		04/22/31		4,864,276
	4,575,000		JPMorgan Chase & Co		2.956		05/13/31		4,890,262
	1,250,000		JPMorgan Chase & Co		4.260		02/22/48		1,569,633
	6,400,000		JPMorgan Chase & Co		5.000		N/A‡		6,388,968
	1,500,000		JPMorgan Chase & Co		6.750		N/A‡		1,623,750
	890,000		Keycorp		5.000		N/A‡		897,788
	1,800,000		Mitsubishi UFJ Financial Group, Inc		2.193		02/25/25		1,884,871
	400,000		MUFG Americas Holdings Corp		3.500		06/18/22		419,201
	2,650,000		Natwest Group plc		3.032		11/28/35		2,545,537
	1,665,000	g	Oversea-Chinese Banking Corp Ltd		1.832		09/10/30		1,659,758
	1,275,000		PNC Bank NA		2.450		11/05/20		1,275,295
	1,200,000		PNC Bank NA		2.700		10/22/29		1,298,021
	2,500,000		PNC Financial Services Group, Inc		3.900		04/29/24		2,753,171
	4,000,000		Regions Financial Corp		5.750		N/A‡		4,270,000
	10,000,000	g	Royal Bank of Canada		3.350		10/22/21		10,312,600
	2,900,000		Royal Bank of Canada		2.550		07/16/24		3,101,811
	1,925,000		Royal Bank of Scotland Group plc		3.073		05/22/28		2,021,828
	2,325,000		Santander Holdings USA, Inc		3.400		01/18/23		2,434,042
	3,000,000	g	Skandinaviska Enskilda Banken AB		2.625		11/17/20		3,008,910
	590,000	g	Standard Chartered plc		7.500		N/A‡		603,369
	3,675,000		Sumitomo Mitsui Financial Group, Inc		2.778		10/18/22		3,835,487
	2,250,000		Sumitomo Mitsui Financial Group, Inc		2.696		07/16/24		2,393,555
	3,300,000		Toronto-Dominion Bank		1.150		06/12/25		3,352,856
	475,000		Toronto-Dominion Bank		3.625		09/15/31		533,625
	1,350,000		Truist Bank		3.525		10/26/21		1,352,718
	575,000		Truist Bank		2.750		05/01/23		606,437
	1,225,000		Truist Bank		2.150		12/06/24		1,296,820

237

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	5,055,000		Truist Financial Corp		4.800	%	N/A‡	$	5,073,956
	1,195,000		Truist Financial Corp		5.050		N/A‡		1,141,225
	1,700,000	g	United Overseas Bank Ltd		3.750		04/15/29		1,813,184
	23,900,000		Wells Fargo Bank NA		2.082		09/09/22		24,238,424
	2,350,000		Westpac Banking Corp		2.850		05/13/26		2,600,034
	1,300,000		Westpac Banking Corp		4.110		07/24/34		1,460,608
			TOTAL BANKS						417,642,686
CAPITAL GOODS - 1.0%
	2,000,000	g	Adaro Indonesia PT		4.250		10/31/24		1,945,000
	1,690,000	g	Airbus SE		3.150		04/10/27		1,782,520
	1,250,000	g	BAE Systems plc		3.400		04/15/30		1,398,751
	800,000	g	BAE Systems plc		1.900		02/15/31		791,763
	2,825,000	g	Beacon Roofing Supply, Inc		4.500		11/15/26		2,909,750
	2,000,000	g	BOC Aviation Ltd		3.000		09/11/29		2,033,940
	600,000	g	Cloud Crane LLC		10.125		08/01/24		608,250
	975,000	g	Embraer Netherlands Finance BV		6.950		01/17/28		987,110
	115,000		General Electric Co		6.875		01/10/39		147,115
	1,250,000	g	Gold Fields Orogen Holdings BVI Ltd		6.125		05/15/29		1,453,125
	775,000		Howmet Aerospace, Inc		6.875		05/01/25		856,375
	3,195,000		Ingersoll-Rand Luxembourg Finance S.A.		3.800		03/21/29		3,743,697
	1,590,000		John Deere Capital Corp		2.650		06/24/24		1,711,067
	675,000		Johnson Controls International plc		1.750		09/15/30		680,675
	800,000		L3Harris Technologies, Inc		3.850		06/15/23		866,072
	875,000		L3Harris Technologies, Inc		2.900		12/15/29		954,897
	500,000	g	Land O’ Lakes, Inc		8.000		N/A‡		482,500
	670,000		Lockheed Martin Corp		2.500		11/23/20		670,847
	500,000		Lockheed Martin Corp		1.850		06/15/30		520,079
	650,000		Lockheed Martin Corp		2.800		06/15/50		675,180
	375,000	g	Molex Electronic Technologies LLC		3.900		04/15/25		389,703
	2,000,000	g	NBM US Holdings, Inc		6.625		08/06/29		2,142,500
	1,925,000		Northrop Grumman Corp		3.250		01/15/28		2,161,808
	4,615,000		Parker-Hannifin Corp		3.250		06/14/29		5,165,389
	750,000	g	PowerTeam Services LLC		9.033		12/04/25		790,313
	2,000,000		Raytheon Technologies Corp		2.250		07/01/30		2,100,505
	1,300,000		Roper Technologies, Inc		3.800		12/15/26		1,499,958
	1,000,000		Roper Technologies, Inc		2.950		09/15/29		1,100,030
	200,000		Trimble, Inc		4.900		06/15/28		235,887
	2,800,000	g	TSMC Global Ltd		1.000		09/28/27		2,750,079
	199,000		United Technologies Corp		3.650		08/16/23		214,992
	4,450,000		United Technologies Corp		4.125		11/16/28		5,266,204
	1,725,000		United Technologies Corp		4.500		06/01/42		2,173,759
	975,000	g	WESCO Distribution, Inc		7.125		06/15/25		1,062,068
	725,000	g	WESCO Distribution, Inc		7.250		06/15/28		794,364
	300,000		Xylem, Inc		2.250		01/30/31		317,840
			TOTAL CAPITAL GOODS						53,384,112
COMMERCIAL & PROFESSIONAL SERVICES - 0.8%
	770,000		ADT Corp		4.125		06/15/23		807,056
	1,650,000		AECOM		5.875		10/15/24		1,785,952
	800,000	g	ASGN, Inc		4.625		05/15/28		803,296
	5,000,000		BayCare Health System, Inc		2.560		11/15/21		5,118,993
	3,000,000		BayCare Health System, Inc		2.610		11/15/22		3,137,958
	2,657,926	g	British Airways		3.800		09/20/31		2,604,699

238

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	1,400,000	g	Central American Bottling Corp			5.750	%	01/31/27	$	1,450,386
	250,000	g	GFL Environmental, Inc			4.250		06/01/25		252,500
	1,000,000	g	GFL Environmental, Inc			3.750		08/01/25		997,500
	250,000	g	GFL Environmental, Inc			5.125		12/15/26		260,000
	500,000		IHS Markit Ltd			4.125		08/01/23		543,750
	1,830,000		IHS Markit Ltd			4.250		05/01/29		2,122,946
	400,000	g	KAR Auction Services, Inc			5.125		06/01/25		399,992
	775,000	g	Prime Security Services Borrower LLC			5.250		04/15/24		811,812
	2,750,000	g	Prime Security Services Borrower LLC			5.750		04/15/26		2,940,795
	1,200,000	g	Prime Security Services Borrower LLC			3.375		08/31/27		1,153,500
	725,000	g	Prime Security Services Borrower LLC			6.250		01/15/28		734,063
	1,000,000		Republic Services, Inc			3.550		06/01/22		1,043,196
	1,550,000		Republic Services, Inc			2.900		07/01/26		1,713,712
	200,000	g	Ritchie Bros Auctioneers, Inc			5.375		01/15/25		205,750
	625,000		RR Donnelley & Sons Co			6.500		11/15/23		584,375
	3,000,000	g	Stericycle, Inc			5.375		07/15/24		3,115,350
	3,000,000		United Rentals North America, Inc			4.625		10/15/25		3,067,500
	1,330,000		Verisk Analytics, Inc			4.125		03/15/29		1,567,544
	325,000		Verisk Analytics, Inc			3.625		05/15/50		369,740
	1,550,000		Waste Management, Inc			2.900		09/15/22		1,615,403
	550,000		Waste Management, Inc			4.100		03/01/45		671,750
	850,000		Waste Management, Inc			4.150		07/15/49		1,082,729
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES							40,962,247
CONSUMER DURABLES & APPAREL - 0.1%
	1,000,000		DR Horton, Inc			5.750		08/15/23		1,128,524
	325,000	g	Hanesbrands, Inc			4.625		05/15/24		337,932
	400,000		Leggett & Platt, Inc			4.400		03/15/29		443,428
	2,250,000		Lennar Corp			4.500		04/30/24		2,413,125
	1,870,000		Lennar Corp			5.875		11/15/24		2,089,725
	369,000		Newell Brands, Inc			4.875		06/01/25		398,059
			TOTAL CONSUMER DURABLES & APPAREL							6,810,793
CONSUMER SERVICES - 0.7%
	3,000,000	g	1011778 BC ULC / New Red Finance, Inc			5.750		04/15/25		3,202,500
	8,000,000		Anheuser-Busch Cos LLC			3.650		02/01/26		8,940,893
	3,095,000		Anheuser-Busch Cos LLC			4.900		02/01/46		3,836,525
	750,000	g	Arcos Dorados Holdings, Inc			5.875		04/04/27		784,140
	1,300,000	g	Boyd Gaming Corp			8.625		06/01/25		1,425,164
	1,825,000	g	Cedar Fair LP			5.500		05/01/25		1,875,188
	1,200,000	g	Cott Holdings, Inc			5.500		04/01/25		1,230,000
	150,000	g	Hilton Domestic Operating Co, Inc			5.375		05/01/25		155,817
	150,000	g	Hilton Domestic Operating Co, Inc			5.750		05/01/28		158,625
	615,000	g	International Game Technology plc			6.250		02/15/22		628,069
	2,070,000	g	International Game Technology plc			6.500		02/15/25		2,208,069
	4,550,000	g	Live Nation Entertainment, Inc			6.500		05/15/27		4,910,542
	1,550,000	g	Melco Resorts Finance Ltd			5.750		07/21/28		1,578,738
	400,000	g	MGM China Holdings Ltd			5.250		06/18/25		405,000
	2,355,000	i	Nature Conservancy	LIBOR 3 M + 1.080%		1.331		02/01/24		2,338,165
	2,745,000		Northwestern University			3.812		12/01/50		2,947,235
	1,400,000		Sands China Ltd			5.400		08/08/28		1,557,388
	325,000	g	Scientific Games International, Inc			5.000		10/15/25		327,031
	100,000	g	Yum! Brands, Inc			7.750		04/01/25		110,500
			TOTAL CONSUMER SERVICES							38,619,589

239

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
DIVERSIFIED FINANCIALS - 4.8%
$	2,000,000		AerCap Ireland Capital DAC		4.625	%	07/01/22	$	2,053,035
	900,000		AerCap Ireland Capital DAC		3.650		07/21/27		823,992
	3,000,000		AerCap Ireland Capital DAC		4.625		10/15/27		2,909,465
	3,200,000		American Express Co		2.500		08/01/22		3,313,653
	2,312,000		American Express Co		3.700		08/03/23		2,504,305
	975,000		Ameriprise Financial, Inc		3.000		03/22/22		1,011,660
	1,500,000		Australia & New Zealand Banking Group Ltd		2.625		05/19/22		1,556,756
	2,000,000	g	Banco BTG Pactual S.A.		4.500		01/10/25		2,042,520
	1,380,000	g	Banco Mercantil del Norte S.A.		6.750		N/A‡		1,359,300
	2,000,000	g	Bangkok Bank PCL		5.000		N/A‡		2,000,919
	1,275,000		Bank of Montreal		3.803		12/15/32		1,420,355
	6,300,000		Bank of New York Mellon Corp		4.700		N/A‡		6,684,300
	875,000	g	BBVA Bancomer S.A.		1.875		09/18/25		854,875
	2,850,000	g	BBVA Bancomer S.A.		5.125		01/18/33		2,743,125
	1,200,000		Berkshire Hathaway, Inc		3.125		03/15/26		1,339,358
	2,825,000		Capital One Bank USA NA		3.375		02/15/23		2,985,426
	1,055,000		Capital One Financial Corp		3.750		03/09/27		1,170,866
	6,675,000		Charles Schwab Corp		5.375		N/A‡		7,232,696
	2,850,000	g	Comcel Trust		6.875		02/06/24		2,904,948
	2,500,000	g	Credit Suisse Group AG.		2.997		12/14/23		2,602,116
	475,000	g	Credit Suisse Group AG.		2.193		06/05/26		490,464
	550,000	g	Credit Suisse Group AG.		4.194		04/01/31		634,554
	5,335,000	g	Credit Suisse Group AG.		5.250		N/A‡		5,345,670
	4,075,000		Credit Suisse Group Funding Guernsey Ltd		3.800		06/09/23		4,382,177
	2,325,000		Credit Suisse Group Funding Guernsey Ltd		3.750		03/26/25		2,575,844
	2,700,000		Deutsche Bank AG.		3.547		09/18/31		2,713,172
	8,400,000		Discover Financial Services		6.125		N/A‡		8,885,520
	4,550,000		Equitable Holdings, Inc		4.950		N/A‡		4,641,000
	1,000,000		Ford Motor Credit Co LLC		5.750		02/01/21		1,007,870
	6,100,000		Ford Motor Credit Co LLC		3.336		03/18/21		6,103,355
	1,775,000		Ford Motor Credit Co LLC		3.096		05/04/23		1,733,288
	1,140,000		Ford Motor Credit Co LLC		5.584		03/18/24		1,185,871
	10,000,000		GE Capital International Funding Co		2.342		11/15/20		10,022,379
	1,775,000		GE Capital International Funding Co		3.373		11/15/25		1,892,924
	9,725,000		GE Capital International Funding Co		4.418		11/15/35		10,277,783
	2,000,000		General Motors Financial Co, Inc		2.750		06/20/25		2,048,640
	1,800,000		General Motors Financial Co, Inc		5.650		01/17/29		2,101,261
	3,300,000		General Motors Financial Co, Inc		3.600		06/21/30		3,402,448
	4,550,000		General Motors Financial Co, Inc		5.700		N/A‡		4,567,063
	7,600,000		Goldman Sachs Group, Inc		2.625		04/25/21		7,682,885
	660,000		Goldman Sachs Group, Inc		5.250		07/27/21		685,728
	2,230,000		Goldman Sachs Group, Inc		5.750		01/24/22		2,380,375
	1,250,000		Goldman Sachs Group, Inc		4.000		03/03/24		1,374,643
	1,050,000		Goldman Sachs Group, Inc		3.500		01/23/25		1,151,855
	8,625,000		Goldman Sachs Group, Inc		3.691		06/05/28		9,669,826
	4,150,000		Goldman Sachs Group, Inc		2.600		02/07/30		4,378,984
	1,300,000		Goldman Sachs Group, Inc		4.017		10/31/38		1,514,220
	1,425,000		Goldman Sachs Group, Inc		4.800		07/08/44		1,861,443
	8,050,000		Goldman Sachs Group, Inc		5.500		N/A‡		8,492,750
	5,000,000		Goldman Sachs Group, Inc		4.950		N/A‡		5,001,500
	2,500,000	g	Grupo Aval Ltd		4.375		02/04/30		2,412,500

240

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	2,000,000	g	High Street Funding Trust I			4.111	%	02/15/28	$	2,292,253
	925,000		Icahn Enterprises LP			5.250		05/15/27		963,665
	2,000,000		International Lease Finance Corp			5.875		08/15/22		2,139,985
	425,000		Legg Mason, Inc			3.950		07/15/24		470,003
	850,000	g	Lions Gate Capital Holdings LLC			5.875		11/01/24		835,125
	1,550,000		Morgan Stanley			5.500		07/28/21		1,615,140
	6,550,000		Morgan Stanley			3.125		01/23/23		6,926,316
	3,445,000		Morgan Stanley			2.720		07/22/25		3,659,485
	6,300,000		Morgan Stanley			2.188		04/28/26		6,594,690
	7,925,000		Morgan Stanley			3.125		07/27/26		8,748,617
	2,000,000		Morgan Stanley			3.625		01/20/27		2,259,231
	1,480,000		Morgan Stanley			3.950		04/23/27		1,671,977
	1,850,000		Morgan Stanley			2.699		01/22/31		1,975,060
	1,140,000		Northern Trust Corp			3.950		10/30/25		1,320,083
	2,375,000	g	Power Finance Corp Ltd			3.950		04/23/30		2,300,521
	1,715,000	g	Quicken Loans, Inc			5.250		01/15/28		1,807,027
	1,000,000	g	REC Ltd			4.750		05/19/23		1,052,211
	5,000,000	g,i	Sanders Re Ltd	LIBOR 6 M + 2.930%		2.975		12/06/21		4,932,000
	2,000,000		Shire Acquisitions Investments Ireland DAC			3.200		09/23/26		2,223,292
	1,500,000	g,i	Sierra Ltd			3.342		12/28/22		1,518,150
	600,000		Springleaf Finance Corp			6.125		03/15/24		628,500
	1,800,000		Springleaf Finance Corp			8.875		06/01/25		1,993,500
	1,350,000		Springleaf Finance Corp			5.375		11/15/29		1,404,000
	700,000	g	Swiss Re Finance Luxembourg SA			5.000		04/02/49		797,738
	55,000		Synchrony Financial			2.850		07/25/22		56,650
	700,000		Synchrony Financial			4.375		03/19/24		759,059
	2,300,000		Synchrony Financial			4.250		08/15/24		2,498,895
	850,000	g	UBS AG.			2.450		12/01/20		851,468
	1,875,000	g	UBS Group AG.			2.859		08/15/23		1,946,743
	1,775,000	g	UBS Group AG.			3.126		08/13/30		1,970,002
	350,000		Voya Financial, Inc			5.700		07/15/43		468,786
	925,000		Voya Financial, Inc			6.125		N/A‡		948,125
	1,355,000		Wells Fargo & Co			4.600		04/01/21		1,383,764
	2,075,000		Wells Fargo & Co			3.750		01/24/24		2,254,205
	1,050,000		Wells Fargo & Co			3.550		09/29/25		1,167,474
	1,100,000		Wells Fargo & Co			3.000		10/23/26		1,200,736
	5,825,000		Wells Fargo & Co			2.393		06/02/28		6,074,778
	3,600,000		Wells Fargo & Co			2.879		10/30/30		3,839,800
	1,500,000		Wells Fargo & Co			5.875		N/A‡		1,616,100
			TOTAL DIVERSIFIED FINANCIALS							257,296,816
ENERGY - 3.5%
	1,450,000	g	Abu Dhabi Crude Oil Pipeline LLC			4.600		11/02/47		1,774,145
	400,000		AmeriGas Partners LP			5.875		08/20/26		439,692
	3,950,000	g	Archrock Partners LP			6.875		04/01/27		3,792,830
	1,185,000		Baker Hughes a GE Co LLC			2.773		12/15/22		1,238,968
	850,000		BP Capital Markets plc			2.520		09/19/22		882,159
	3,300,000		Chevron Corp			1.554		05/11/25		3,418,857
	1,475,000		Chevron Corp			2.236		05/11/30		1,564,116
	187,563	†	Cloud Peak Energy, Inc			9.000		10/24/24		56,269
	351,682	†,o	Cloud Peak Energy, Inc			12.000		05/01/25		105,505
	2,500,000		Concho Resources, Inc			2.400		02/15/31		2,388,882
	45,000		ConocoPhillips Co			6.500		02/01/39		65,727
	2,325,000		Crestwood Midstream Partners LP			5.750		04/01/25		2,115,750

241

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	2,975,000		Diamondback Energy, Inc		2.875	%	12/01/24	$	3,011,664
	2,125,000		Diamondback Energy, Inc		3.250		12/01/26		2,127,645
	3,000,000		Diamondback Energy, Inc		3.500		12/01/29		2,892,450
	2,300,000		Ecopetrol S.A.		6.875		04/29/30		2,754,250
	375,000		Ecopetrol S.A.		5.875		05/28/45		408,750
	2,450,000		Enbridge, Inc		3.125		11/15/29		2,603,183
	2,340,000		Enbridge, Inc		5.750		07/15/80		2,421,437
	6,420,000		Energy Transfer Operating LP		3.600		02/01/23		6,598,195
	5,930,000		Energy Transfer Operating LP		4.200		09/15/23		6,248,586
	1,375,000		Energy Transfer Operating LP		2.900		05/15/25		1,382,153
	950,000		Energy Transfer Operating LP		4.750		01/15/26		1,012,278
	575,000		Energy Transfer Operating LP		5.500		06/01/27		627,105
	2,000,000		Energy Transfer Operating LP		4.950		06/15/28		2,116,952
	575,000		Energy Transfer Operating LP		5.250		04/15/29		618,300
	3,075,000		Energy Transfer Operating LP		3.750		05/15/30		2,976,210
	2,100,000		Energy Transfer Operating LP		6.250		04/15/49		2,160,987
	2,700,000		Energy Transfer Operating LP		5.000		05/15/50		2,478,522
	1,105,000		Enterprise Products Operating LLC		2.800		02/15/21		1,114,936
	1,025,000		Enterprise Products Operating LLC		3.700		02/15/26		1,149,336
	1,550,000		Enterprise Products Operating LLC		3.125		07/31/29		1,688,181
	200,000		Enterprise Products Operating LLC		2.800		01/31/30		211,731
	750,000		Enterprise Products Operating LLC		4.900		05/15/46		844,083
	1,025,000		Enterprise Products Operating LLC		4.250		02/15/48		1,086,776
	1,600,000		Enterprise Products Operating LLC		4.800		02/01/49		1,841,368
	1,105,000		Enterprise Products Operating LLC		4.200		01/31/50		1,173,200
	3,125,000		Enterprise Products Operating LLC		3.700		01/31/51		3,077,822
	1,525,000		Enterprise Products Operating LLC		3.950		01/31/60		1,497,392
	1,225,000	g	EQM Midstream Partners LP		6.000		07/01/25		1,263,281
	675,000		Genesis Energy LP		6.500		10/01/25		578,812
	3,750,000		Genesis Energy LP		6.250		05/15/26		3,122,662
	1,750,000	g	Geopark Ltd		5.500		01/17/27		1,548,767
	1,700,000	g	KazMunayGas National Co JSC		5.375		04/24/30		1,983,451
	940,000		Kinder Morgan Energy Partners LP		5.400		09/01/44		1,089,103
	1,000,000		Kinder Morgan, Inc		3.450		02/15/23		1,050,442
	400,000		Kinder Morgan, Inc		5.300		12/01/34		471,186
	2,025,000	g	Leviathan Bond Ltd		6.125		06/30/25		2,090,587
	1,500,000	g	Leviathan Bond Ltd		6.500		06/30/27		1,555,292
	2,150,000		Magellan Midstream Partners LP		3.250		06/01/30		2,305,848
	2,200,000		Marathon Petroleum Corp		3.800		04/01/28		2,388,556
	700,000		Marathon Petroleum Corp		4.750		09/15/44		729,309
	1,650,000		Marathon Petroleum Corp		5.000		09/15/54		1,693,895
	550,000		MPLX LP		5.250		01/15/25		570,194
	1,475,000		MPLX LP		4.875		06/01/25		1,671,907
	2,625,000		MPLX LP		1.750		03/01/26		2,619,034
	2,900,000		MPLX LP		4.000		03/15/28		3,164,340
	1,850,000		MPLX LP		2.650		08/15/30		1,812,711
	3,125,000		MPLX LP		4.500		04/15/38		3,194,362
	1,550,000		MPLX LP		4.700		04/15/48		1,567,523
	1,617,000		Murphy Oil Corp		5.875		12/01/27		1,380,983
	450,000		Murphy Oil USA, Inc		5.625		05/01/27		478,125
	300,000		Noble Energy, Inc		3.900		11/15/24		328,192
	400,000		Noble Energy, Inc		3.850		01/15/28		454,003
	975,000		Noble Energy, Inc		5.050		11/15/44		1,262,807

242

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	1,400,000		NuStar Logistics LP		5.750	%	10/01/25	$	1,445,920
	800,000		Occidental Petroleum Corp		5.550		03/15/26		724,728
	2,375,000		Occidental Petroleum Corp		3.500		08/15/29		1,821,150
	1,200,000		Occidental Petroleum Corp		4.300		08/15/39		831,792
	475,000		Occidental Petroleum Corp		4.100		02/15/47		320,672
	950,000	g	Oleoducto Central S.A.		4.000		07/14/27		986,575
	1,100,000		ONEOK, Inc		4.000		07/13/27		1,144,700
	4,150,000		ONEOK, Inc		4.550		07/15/28		4,396,184
	3,050,000		ONEOK, Inc		4.350		03/15/29		3,182,390
	3,115,000		ONEOK, Inc		3.400		09/01/29		3,055,531
	1,650,000		ONEOK, Inc		3.100		03/15/30		1,587,458
	600,000		ONEOK, Inc		5.200		07/15/48		577,379
	1,650,000		ONEOK, Inc		4.500		03/15/50		1,457,594
	850,000	g	Pertamina Persero PT		3.650		07/30/29		912,281
	1,200,000	g	Peru LNG Srl		5.375		03/22/30		919,128
	800,000		Petrobras Global Finance BV		5.093		01/15/30		840,680
	1,500,000		Petrobras Global Finance BV		5.600		01/03/31		1,602,315
	2,000,000		Petrobras Global Finance BV		6.900		03/19/49		2,224,200
	2,800,000		Petroleos Mexicanos		6.500		03/13/27		2,611,000
	1,250,000		Petroleos Mexicanos		5.350		02/12/28		1,069,962
	1,992,000	g	Petroleos Mexicanos		6.840		01/23/30		1,772,880
	2,700,000	g	Petroleos Mexicanos		5.950		01/28/31		2,245,374
	1,275,000	g	Petronas Capital Ltd		3.500		04/21/30		1,421,788
	625,000		Phillips 66 Partners LP		3.150		12/15/29		616,386
	1,025,000		Phillips 66 Partners LP		4.680		02/15/45		1,042,946
	475,000		Regency Energy Partners LP		4.500		11/01/23		504,748
	705,000		Sabine Pass Liquefaction LLC		5.875		06/30/26		833,477
	1,950,000		Sabine Pass Liquefaction LLC		4.200		03/15/28		2,115,527
	800,000	g	Sabine Pass Liquefaction LLC		4.500		05/15/30		900,383
	1,300,000		Shell International Finance BV		2.875		05/10/26		1,438,918
	1,350,000		Shell International Finance BV		3.125		11/07/49		1,390,065
	1,275,000		SM Energy Co		6.625		01/15/27		566,342
	1,790,000	g	Stena AB		7.000		02/01/24		1,748,830
	2,000,000		Suburban Propane Partners LP		5.500		06/01/24		2,012,540
	705,000		Suncor Energy, Inc		6.800		05/15/38		920,957
	1,400,000		Sunoco Logistics Partners Operations LP		4.000		10/01/27		1,429,355
	600,000		Sunoco Logistics Partners Operations LP		5.400		10/01/47		565,546
	250,000		Sunoco LP		4.875		01/15/23		251,250
	1,500,000		Targa Resources Partners LP		5.875		04/15/26		1,540,050
	525,000		Targa Resources Partners LP		6.500		07/15/27		547,312
	2,000,000	g	Thaioil Treasury Center Co Ltd		2.500		06/18/30		1,952,040
	3,300,000		Total Capital International S.A.		3.127		05/29/50		3,408,461
	5,200,000		TransCanada PipeLines Ltd		4.250		05/15/28		6,008,291
	497,640	g	Transocean Guardian Ltd		5.875		01/15/24		320,978
	1,600,000		USA Compression Partners LP		6.875		04/01/26		1,586,000
	1,075,000		USA Compression Partners LP		6.875		09/01/27		1,065,992
	2,100,000	†,g	YPF S.A.		6.950		07/21/27		1,401,750
			TOTAL ENERGY						185,661,589
FOOD & STAPLES RETAILING - 0.5%
	1,575,000		Costco Wholesale Corp		1.375		06/20/27		1,612,365
	2,350,000		Costco Wholesale Corp		1.600		04/20/30		2,393,856
	750,000		Costco Wholesale Corp		1.750		04/20/32		768,830
	1,012,000		Ingles Markets, Inc		5.750		06/15/23		1,026,370

243

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	1,150,000		Kroger Co		3.700	%	08/01/27	$	1,317,763
	1,800,000		Kroger Co		3.875		10/15/46		2,036,004
	325,000		Kroger Co		4.450		02/01/47		399,428
	675,000		SYSCO Corp		3.300		07/15/26		737,701
	5,700,000		Walmart, Inc		3.700		06/26/28		6,736,366
	2,350,000		Walmart, Inc		3.250		07/08/29		2,738,065
	4,075,000		Walmart, Inc		2.375		09/24/29		4,497,910
	1,550,000		Walmart, Inc		3.950		06/28/38		1,939,600
			TOTAL FOOD & STAPLES RETAILING						26,204,258
FOOD, BEVERAGE & TOBACCO - 1.4%
	1,725,000		Altria Group, Inc		4.800		02/14/29		2,045,721
	1,000,000		Altria Group, Inc		3.400		05/06/30		1,088,314
	1,400,000		Altria Group, Inc		5.950		02/14/49		1,876,873
	5,580,000		Anheuser-Busch InBev Worldwide, Inc		4.750		01/23/29		6,782,998
	2,160,000		Anheuser-Busch InBev Worldwide, Inc		4.439		10/06/48		2,516,612
	1,850,000		BAT Capital Corp		2.259		03/25/28		1,854,510
	4,900,000		BAT Capital Corp		4.906		04/02/30		5,775,635
	3,175,000		BAT Capital Corp		2.726		03/25/31		3,144,600
	1,575,000		BAT Capital Corp		3.734		09/25/40		1,562,795
	1,650,000		BAT Capital Corp		4.540		08/15/47		1,763,409
	1,975,000	g	BRF S.A.		4.875		01/24/30		2,026,824
	1,000,000	g	BRF S.A.		5.750		09/21/50		992,260
	825,000		Coca-Cola Co		1.450		06/01/27		850,481
	5,000,000		Coca-Cola Co		1.000		03/15/28		4,983,879
	450,000		Constellation Brands, Inc		4.400		11/15/25		523,049
	450,000		Constellation Brands, Inc		3.700		12/06/26		514,538
	325,000		Constellation Brands, Inc		3.600		02/15/28		367,291
	1,625,000		Constellation Brands, Inc		3.150		08/01/29		1,773,659
	350,000		Constellation Brands, Inc		2.875		05/01/30		377,650
	1,800,000	g	Corp Lindley S.A.		4.625		04/12/23		1,885,518
	3,125,000	g	Cosan Ltd		5.500		09/20/29		3,218,781
	1,650,000		Diageo Capital plc		2.125		10/24/24		1,747,603
	2,425,000		Diageo Capital plc		2.375		10/24/29		2,583,961
	1,150,000		Diageo Capital plc		2.000		04/29/30		1,183,838
	1,675,000	g	Embotelladora Andina S.A.		3.950		01/21/50		1,771,312
	925,000		General Mills, Inc		2.875		04/15/30		1,014,270
	2,000,000	g	Grupo Bimbo SAB de C.V.		4.700		11/10/47		2,328,860
	1,800,000	g	Grupo Bimbo SAB de C.V.		5.950		N/A‡		1,885,050
	475,000		JM Smucker Co		2.375		03/15/30		495,345
	1,325,000		JM Smucker Co		3.550		03/15/50		1,414,048
	1,000,000		Kellogg Co		3.400		11/15/27		1,126,965
	1,450,000	g	Kernel Holding S.A.		6.500		10/17/24		1,446,403
	1,150,000	g	Kraft Heinz Foods Co		3.875		05/15/27		1,224,980
	875,000	g	Kraft Heinz Foods Co		4.250		03/01/31		959,350
	975,000	g	Lamb Weston Holdings, Inc		4.875		11/01/26		1,016,438
	775,000		PepsiCo, Inc		3.450		10/06/46		896,564
	4,000,000		PepsiCo, Inc		3.625		03/19/50		4,850,203
	1,900,000		Philip Morris International, Inc		2.100		05/01/30		1,953,010
	100,000		Philip Morris International, Inc		6.375		05/16/38		148,218
	3,100,000	g	Post Holdings, Inc		4.625		04/15/30		3,189,125
	650,000		Tyson Foods, Inc		3.900		09/28/23		710,537
	1,075,000		Tyson Foods, Inc		3.950		08/15/24		1,196,584
			TOTAL FOOD, BEVERAGE & TOBACCO						79,068,061

244

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
HEALTH CARE EQUIPMENT & SERVICES - 2.1%
$	1,225,000		Abbott Laboratories		3.875	%	09/15/25	$	1,398,426
	1,247,000		Abbott Laboratories		3.750		11/30/26		1,446,628
	450,000		Abbott Laboratories		5.300		05/27/40		657,193
	3,500,000		Anthem, Inc		3.650		12/01/27		3,985,139
	1,500,000	g	Avantor Funding, Inc		4.625		07/15/28		1,556,250
	3,016,000		Becton Dickinson & Co		3.700		06/06/27		3,418,039
	1,200,000		Boston Scientific Corp		4.000		03/01/29		1,395,197
	800,000	g	Centene Corp		5.375		08/15/26		847,340
	1,150,000		Centene Corp		4.625		12/15/29		1,240,459
	1,000,000		Centene Corp		3.375		02/15/30		1,037,500
	755,000	g	Centene Escrow I Corp		5.375		06/01/26		796,880
	2,750,000	g	CHS/Community Health Systems, Inc		8.000		03/15/26		2,700,191
	1,600,000		Cigna Corp		2.400		03/15/30		1,654,386
	1,525,000		Cigna Corp		3.200		03/15/40		1,613,682
	375,000		Covidien International Finance S.A.		3.200		06/15/22		390,036
	1,775,000		CVS Health Corp		2.625		08/15/24		1,891,650
	4,350,000		CVS Health Corp		2.875		06/01/26		4,709,034
	3,800,000		CVS Health Corp		3.750		04/01/30		4,342,083
	7,450,000		CVS Health Corp		1.750		08/21/30		7,293,323
	5,175,000		CVS Health Corp		4.780		03/25/38		6,262,747
	1,400,000		CVS Health Corp		2.700		08/21/40		1,339,095
	2,425,000		CVS Health Corp		5.050		03/25/48		3,083,892
	1,125,000		CVS Health Corp		4.250		04/01/50		1,319,343
	1,000,000		Danaher Corp		2.600		10/01/50		974,205
	3,100,000	g	DaVita, Inc		4.625		06/01/30		3,181,840
	3,950,000	g	DaVita, Inc		3.750		02/15/31		3,806,023
	540,000		Encompass Health Corp		5.750		11/01/24		540,810
	5,400,000		Encompass Health Corp		4.500		02/01/28		5,427,000
	4,000,000		HCA, Inc		3.500		09/01/30		4,072,846
	1,320,000		HCA, Inc		5.500		06/15/47		1,645,856
	3,500,000	g	Hologic, Inc		3.250		02/15/29		3,521,875
	1,800,000		Humana, Inc		3.950		03/15/27		2,059,453
	1,250,000	g	Molina Healthcare, Inc		4.375		06/15/28		1,275,625
	500,000		Orlando Health Obligated Group		2.981		10/01/20		500,000
	50,000		Quest Diagnostics, Inc		4.250		04/01/24		55,437
	1,510,000	g	SBA Tower Trust		3.168		04/11/22		1,528,256
	5,800,000	g	SBA Tower Trust		2.836		01/15/25		6,206,161
	2,080,000	g	SBA Tower Trust		1.884		01/15/26		2,125,834
	820,000	g	SBA Tower Trust		2.328		01/15/28		832,319
	350,000	g	Teleflex, Inc		4.250		06/01/28		362,250
	4,200,000		Tenet Healthcare Corp		4.625		07/15/24		4,210,500
	375,000	g	Tenet Healthcare Corp		4.625		06/15/28		378,159
	3,400,000	g	Tenet Healthcare Corp		6.125		10/01/28		3,310,750
	2,650,000		UnitedHealth Group, Inc		2.950		10/15/27		2,951,804
	70,000		UnitedHealth Group, Inc		4.750		07/15/45		94,435
	1,400,000		UnitedHealth Group, Inc		3.750		10/15/47		1,658,129
	2,000,000		UnitedHealth Group, Inc		3.700		08/15/49		2,387,180
	550,000		Zimmer Biomet Holdings, Inc		3.700		03/19/23		587,166
	1,290,000		Zimmer Biomet Holdings, Inc		3.550		04/01/25		1,425,812
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						109,498,238

245

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
HOUSEHOLD & PERSONAL PRODUCTS - 0.1%
$	900,000		Kimberly-Clark Corp		1.050	%	09/15/27	$	906,228
	2,000,000		Procter & Gamble Co		3.600		03/25/50		2,533,993
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS						3,440,221
INSURANCE - 1.3%
	150,000		Aetna, Inc		6.625		06/15/36		213,009
	53,000		Aflac, Inc		6.450		08/15/40		77,073
	550,000	g	AIA Group Ltd		3.200		09/16/40		567,947
	1,500,000		Allstate Corp		3.850		08/10/49		1,779,038
	550,000		American Financial Group, Inc		3.500		08/15/26		595,291
	2,675,000		American International Group, Inc		3.400		06/30/30		2,950,794
	1,250,000		Aon Corp		2.800		05/15/30		1,349,539
	3,275,000		Aon plc		3.500		06/14/24		3,567,729
	675,000		Berkshire Hathaway Finance Corp		1.850		03/12/30		705,101
	400,000		Berkshire Hathaway Finance Corp		4.250		01/15/49		520,532
	3,600,000		Chubb INA Holdings, Inc		2.875		11/03/22		3,765,410
	700,000		CNA Financial Corp		3.950		05/15/24		775,519
	1,725,000		CNA Financial Corp		2.050		08/15/30		1,709,478
	550,000	g	Equitable Financial Life Global Funding		1.400		07/07/25		561,389
	3,025,000	g	Five Corners Funding Trust		4.419		11/15/23		3,361,048
	2,200,000	g	Five Corners Funding Trust II		2.850		05/15/30		2,372,942
	445,000		Genworth Holdings, Inc		4.800		02/15/24		409,387
	1,650,000		Hartford Financial Services Group, Inc		2.800		08/19/29		1,788,008
	250,000		Hartford Financial Services Group, Inc		4.300		04/15/43		293,066
	1,000,000		Hartford Financial Services Group, Inc		3.600		08/19/49		1,107,951
	144,000	g	Liberty Mutual Group, Inc		4.250		06/15/23		157,407
	1,521,000	g	Liberty Mutual Group, Inc		4.569		02/01/29		1,838,336
	1,750,000	g	Liberty Mutual Group, Inc		3.951		10/15/50		1,949,134
	475,000		Marsh & McLennan Cos, Inc		3.500		06/03/24		518,804
	375,000		Marsh & McLennan Cos, Inc		3.500		03/10/25		414,145
	875,000		MetLife, Inc		3.600		11/13/25		993,127
	9,100,000		MetLife, Inc		3.850		N/A‡		9,065,875
	900,000	g	Metropolitan Life Global Funding I		2.950		04/09/30		1,009,476
	500,000		Principal Financial Group, Inc		2.125		06/15/30		514,691
	500,000		Prudential Financial, Inc		3.905		12/07/47		555,034
	2,610,000		Prudential Financial, Inc		3.700		10/01/50		2,662,983
	300,000	g	Prudential Funding LLC		6.750		09/15/23		346,392
	1,050,000		Reinsurance Group of America, Inc		3.900		05/15/29		1,197,952
	2,250,000	g,i	Residential Reinsurance 2017 Ltd		3.362		06/06/21		2,254,725
	8,500,000	g,i	Sutter Re Ltd		5.092		06/06/22		8,700,600
	400,000		Travelers Cos, Inc		2.550		04/27/50		391,515
	2,200,000	g,i	Vitality Re X Ltd		1.842		01/10/23		2,187,900
	850,000		Willis North America, Inc		3.600		05/15/24		927,985
	1,515,000		XLIT Ltd		4.450		03/31/25		1,713,067
			TOTAL INSURANCE						65,869,399
MATERIALS - 1.9%
	1,400,000		Agrium, Inc		3.375		03/15/25		1,495,683
	550,000		Air Products & Chemicals, Inc		1.500		10/15/25		570,420
	600,000		Air Products & Chemicals, Inc		2.050		05/15/30		632,173
	200,000	g	Alcoa Nederland Holding BV		6.750		09/30/24		206,250
	200,000	g	Alcoa Nederland Holding BV		7.000		09/30/26		209,500
	1,350,000	g	Anglo American Capital plc		2.625		09/10/30		1,339,065

246

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	2,050,000		AngloGold Ashanti Holdings plc		3.750	%	10/01/30	$	2,090,721
	2,600,000	g	Arconic Corp		6.000		05/15/25		2,776,605
	175,000	g	Arconic Rolled Products Corp		6.125		02/15/28		179,703
	2,425,000		Ball Corp		2.875		08/15/30		2,397,719
	270,000		Bemis Co, Inc		3.100		09/15/26		294,217
	325,000		Bemis Co, Inc		2.630		06/19/30		346,851
	1,000,000	g	Berry Global, Inc		5.625		07/15/27		1,048,750
	2,500,000	g	Celulosa Arauco y Constitucion S.A.		4.250		04/30/29		2,646,900
	1,375,000	g	Cemex SAB de C.V.		7.375		06/05/27		1,485,701
	2,500,000	g	Cemex SAB de C.V.		5.450		11/19/29		2,528,125
	2,175,000	g	Cleveland-Cliffs, Inc		9.875		10/17/25		2,427,844
	2,300,000	g	Corp Nacional del Cobre de Chile-CODELCO		3.625		08/01/27		2,518,546
	2,000,000	g	Corp Nacional del Cobre de Chile-CODELCO		3.150		01/14/30		2,125,440
	1,800,000	g	Corp Nacional del Cobre de Chile-CODELCO		3.700		01/30/50		1,904,238
	5,805,000		DowDuPont, Inc		4.493		11/15/25		6,675,209
	2,310,000		DowDuPont, Inc		4.725		11/15/28		2,771,418
	500,000	g	Element Solutions, Inc		3.875		09/01/28		490,625
	950,000	g	Enviva Partners LP		6.500		01/15/26		1,001,062
	3,500,000	g,h	First Quantum Minerals Ltd		6.875		10/15/27		3,371,550
	3,000,000		Freeport-McMoRan, Inc		5.450		03/15/43		3,330,780
	1,200,000	g	Fresnillo plc		4.250		10/02/50		1,185,336
	775,000	g	Hudbay Minerals, Inc		6.125		04/01/29		767,250
	600,000	g	Industrias Penoles SAB de C.V.		4.150		09/12/29		651,300
	750,000		International Paper Co		5.000		09/15/35		975,651
	50,000		International Paper Co		8.700		06/15/38		77,224
	1,500,000		International Paper Co		5.150		05/15/46		1,962,352
	450,000		International Paper Co		4.350		08/15/48		549,615
	2,875,000	g	Inversiones CMPC S.A.		4.375		04/04/27		3,202,060
	630,000	g	James Hardie International Finance DAC		4.750		01/15/25		643,388
	1,650,000		LyondellBasell Industries NV		6.000		11/15/21		1,726,646
	900,000	g,h	Metinvest BV		7.650		10/01/27		873,261
	1,400,000	g	Midwest Connector Capital Co LLC		3.900		04/01/24		1,412,185
	1,400,000	g	Midwest Connector Capital Co LLC		4.625		04/01/29		1,414,158
	467,000		Mosaic Co		4.875		11/15/41		489,035
	1,200,000		Newmont Corp		2.250		10/01/30		1,237,539
	3,000,000	g	Nova Chemicals Corp		4.875		06/01/24		2,978,475
	1,125,000		Nutrien Ltd		3.375		03/15/25		1,241,993
	2,500,000		Nutrien Ltd		2.950		05/13/30		2,733,433
	2,500,000	g	OCI NV		6.625		04/15/23		2,585,000
	2,375,000	g	OCI NV		4.625		10/15/25		2,375,000
	1,700,000	g	OCP S.A.		6.875		04/25/44		2,154,954
	2,400,000	g	Owens-Brockway Glass Container, Inc		5.875		08/15/23		2,520,000
	2,900,000	g	PolyOne Corp		5.750		05/15/25		3,074,000
	2,425,000		Praxair, Inc		1.100		08/10/30		2,347,925
	675,000		Praxair, Inc		2.000		08/10/50		607,151
	2,450,000	g	SABIC Capital II BV		4.500		10/10/28		2,856,118
	2,450,000		Sherwin-Williams Co		2.300		05/15/30		2,556,731
	1,500,000	g	Sociedad Quimica y Minera de Chile S.A.		4.250		05/07/29		1,702,320
	2,200,000	g	Standard Industries, Inc		5.000		02/15/27		2,288,000
	1,325,000	g	Suzano Austria GmbH		7.000		03/16/47		1,568,084
	500,000	g	Tronox Finance plc		5.750		10/01/25		492,500
	585,000	g	Tronox, Inc		6.500		04/15/26		585,000
	400,000	g	Univar Solutions USA, Inc		5.125		12/01/27		410,500

247

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	900,000		Vulcan Materials Co		3.500	%	06/01/30	$	1,007,258
	820,000		WestRock RKT LLC		4.900		03/01/22		868,714
	1,100,000		WRKCo, Inc		4.900		03/15/29		1,356,509
			TOTAL MATERIALS						102,341,760
MEDIA & ENTERTAINMENT - 2.7%
	875,000		Activision Blizzard, Inc		3.400		09/15/26		996,395
	1,100,000		Activision Blizzard, Inc		1.350		09/15/30		1,071,761
	2,775,000		Alphabet, Inc		1.100		08/15/30		2,747,535
	1,825,000		Alphabet, Inc		2.050		08/15/50		1,695,968
	1,650,000	g	Banco Nacional de Panama		2.500		08/11/30		1,632,675
	1,175,000	g	Cable Onda S.A.		4.500		01/30/30		1,222,940
	500,000	g	CBS Radio, Inc		7.250		11/01/24		417,500
	1,800,000	g	CCO Holdings LLC		4.500		08/15/30		1,890,081
	3,227,000		Charter Communications Operating LLC		4.464		07/23/22		3,416,331
	1,700,000		Charter Communications Operating LLC		3.750		02/15/28		1,878,556
	1,750,000		Charter Communications Operating LLC		4.200		03/15/28		1,987,138
	1,465,000		Charter Communications Operating LLC		5.125		07/01/49		1,695,172
	8,150,000		Charter Communications Operating LLC		4.800		03/01/50		9,314,998
	1,800,000		Comcast Corp		3.700		04/15/24		1,987,607
	2,900,000		Comcast Corp		3.950		10/15/25		3,325,630
	4,750,000		Comcast Corp		2.350		01/15/27		5,102,921
	1,625,000		Comcast Corp		3.300		02/01/27		1,832,041
	5,000,000		Comcast Corp		4.150		10/15/28		6,033,126
	4,025,000		Comcast Corp		2.650		02/01/30		4,389,370
	2,150,000		Comcast Corp		1.950		01/15/31		2,207,561
	2,300,000		Comcast Corp		1.500		02/15/31		2,263,329
	2,975,000		Comcast Corp		3.200		07/15/36		3,301,747
	1,000,000		Comcast Corp		3.900		03/01/38		1,183,984
	755,000		Comcast Corp		6.400		05/15/38		1,141,404
	8,550,000		Comcast Corp		3.450		02/01/50		9,708,763
	3,425,000		Comcast Corp		2.800		01/15/51		3,432,069
	2,300,000		Comcast Corp		2.450		08/15/52		2,150,168
	1,000,000		CSC Holdings LLC		6.750		11/15/21		1,047,420
	1,800,000	g	CSC Holdings LLC		5.750		01/15/30		1,912,878
	446,000		Discovery Communications LLC		2.950		03/20/23		469,821
	2,000,000		Discovery Communications LLC		4.125		05/15/29		2,297,749
	2,000,000		Discovery Communications LLC		5.200		09/20/47		2,397,717
	2,150,000	g	Entercom Media Corp		6.500		05/01/27		1,870,500
	325,000	g	EW Scripps Co		5.125		05/15/25		317,687
	2,400,000	g	Gray Escrow, Inc		7.000		05/15/27		2,601,930
	1,400,000	g	Gray Television, Inc		5.875		07/15/26		1,452,500
	2,785,000		Grupo Televisa SAB		6.625		01/15/40		3,669,839
	1,275,000	g	Lamar Media Corp		3.750		02/15/28		1,268,625
	3,000,000	g	Lamar Media Corp		4.875		01/15/29		3,120,000
	1,000,000	g	Lamar Media Corp		4.000		02/15/30		1,000,000
	2,400,000	g	LUKOIL Securities BV		3.875		05/06/30		2,535,120
	1,175,000	g	Match Group, Inc		4.625		06/01/28		1,210,250
	1,000,000	g	Medco Bell Pte Ltd		6.375		01/30/27		860,000
	2,000,000	g	Medco Oak Tree Pte Ltd		7.375		05/14/26		1,912,094
	1,750,000	g	MEGlobal Canada ULC		5.000		05/18/25		1,887,952
	540,000		NBC Universal Media LLC		6.400		04/30/40		830,942
	925,000	g	Nielsen Finance LLC		5.000		04/15/22		927,312
	2,700,000	g	Sirius XM Radio, Inc		5.375		07/15/26		2,809,890

248

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	2,725,000	g	Sirius XM Radio, Inc		4.125	%	07/01/30	$	2,792,553
	750,000		Smithsonian Institution		0.845		09/01/21		750,595
	825,000		Smithsonian Institution		0.895		09/01/22		826,252
	800,000		Smithsonian Institution		0.974		09/01/23		800,537
	1,000,000		Smithsonian Institution		1.118		09/01/24		1,002,431
	1,600,000		Smithsonian Institution		1.514		09/01/26		1,631,659
	1,225,000	g	TEGNA, Inc		4.750		03/15/26		1,251,736
	850,000	g	TEGNA, Inc		4.625		03/15/28		831,130
	1,075,000	g	Telefonica Celular del Paraguay S.A.		5.875		04/15/27		1,124,342
	800,000	g	Telenet Finance Luxembourg		5.500		03/01/28		839,877
	1,500,000		Time Warner Cable LLC		5.875		11/15/40		1,866,138
	475,000		Time Warner Cable LLC		4.500		09/15/42		515,053
	1,250,000	g	Upjohn, Inc		2.700		06/22/30		1,293,314
	725,000	g	Upjohn, Inc		3.850		06/22/40		780,548
	850,000		ViacomCBS, Inc		2.900		01/15/27		915,789
	525,000		ViacomCBS, Inc		3.375		02/15/28		578,560
	600,000		ViacomCBS, Inc		5.850		09/01/43		751,751
	125,000		Walt Disney Co		7.625		11/30/28		178,714
	4,650,000		Walt Disney Co		2.000		09/01/29		4,804,844
	90,000		Walt Disney Co		6.550		03/15/33		131,656
	3,400,000		Walt Disney Co		3.600		01/13/51		3,828,587
	1,825,000		Weibo Corp		3.375		07/08/30		1,853,525
			TOTAL MEDIA & ENTERTAINMENT						143,776,587
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 1.7%
	850,000		AbbVie, Inc		2.850		05/14/23		894,096
	2,625,000	g	AbbVie, Inc		3.800		03/15/25		2,912,794
	7,200,000	g	AbbVie, Inc		2.950		11/21/26		7,843,173
	6,150,000	g	AbbVie, Inc		3.200		11/21/29		6,762,146
	3,850,000	g	AbbVie, Inc		4.050		11/21/39		4,397,075
	1,450,000		AbbVie, Inc		4.400		11/06/42		1,722,844
	580,000		AbbVie, Inc		4.450		05/14/46		689,310
	4,850,000	g	AbbVie, Inc		4.250		11/21/49		5,728,584
	1,150,000		AstraZeneca plc		3.125		06/12/27		1,275,245
	300,000	g	Bausch Health Cos, Inc		5.750		08/15/27		318,375
	2,625,000	g	Bausch Health Cos, Inc		5.000		01/30/28		2,549,531
	3,750,000	g	Bausch Health Cos, Inc		6.250		02/15/29		3,857,100
	625,000		Bristol-Myers Squibb Co		3.875		08/15/25		713,456
	3,150,000		Bristol-Myers Squibb Co		3.450		11/15/27		3,618,312
	7,725,000		Bristol-Myers Squibb Co		3.400		07/26/29		8,975,471
	4,500,000		Bristol-Myers Squibb Co		4.250		10/26/49		5,909,874
	400,000	g	Emergent BioSolutions, Inc		3.875		08/15/28		401,572
	1,075,000		Gilead Sciences, Inc		1.200		10/01/27		1,076,739
	2,625,000		Gilead Sciences, Inc		1.650		10/01/30		2,619,819
	450,000		Gilead Sciences, Inc		4.000		09/01/36		544,259
	1,600,000		Gilead Sciences, Inc		2.800		10/01/50		1,578,258
	345,000	g	Horizon Pharma USA, Inc		5.500		08/01/27		366,131
	600,000	g	Jaguar Holding Co II		4.625		06/15/25		618,000
	425,000	g	Jaguar Holding Co II		5.000		06/15/28		443,594
	1,375,000		Johnson & Johnson		2.450		03/01/26		1,501,362
	975,000		Johnson & Johnson		2.900		01/15/28		1,095,827
	900,000		Johnson & Johnson		3.400		01/15/38		1,051,769

249

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	1,650,000		Merck & Co, Inc		1.450	%	06/24/30	$	1,672,917
	1,575,000		Merck & Co, Inc		2.450		06/24/50		1,566,613
	1,450,000		Mylan, Inc		4.550		04/15/28		1,688,239
	1,900,000		Novartis Capital Corp		3.000		11/20/25		2,113,378
	1,550,000	g	Royalty Pharma plc		2.200		09/02/30		1,540,940
	5,550,000		Takeda Pharmaceutical Co Ltd		2.050		03/31/30		5,620,896
	600,000		Takeda Pharmaceutical Co Ltd		3.025		07/09/40		619,745
	3,000,000		Teva Pharmaceutical Finance Netherlands III BV		3.150		10/01/26		2,647,500
	2,175,000		Thermo Fisher Scientific, Inc		4.133		03/25/25		2,478,029
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						89,412,973
REAL ESTATE - 1.6%
	350,000		Alexandria Real Estate Equities, Inc		3.950		01/15/27		398,154
	450,000		Alexandria Real Estate Equities, Inc		3.950		01/15/28		517,681
	1,650,000		Alexandria Real Estate Equities, Inc		4.900		12/15/30		2,075,577
	1,125,000		Alexandria Real Estate Equities, Inc		1.875		02/01/33		1,097,789
	1,200,000		American Tower Corp		3.000		06/15/23		1,270,785
	875,000		American Tower Corp		5.000		02/15/24		989,274
	1,425,000		American Tower Corp		2.950		01/15/25		1,539,153
	475,000		American Tower Corp		3.375		10/15/26		525,879
	1,200,000		American Tower Corp		3.600		01/15/28		1,345,372
	2,200,000		American Tower Corp		3.800		08/15/29		2,518,272
	4,100,000		American Tower Corp		2.900		01/15/30		4,425,389
	2,975,000		American Tower Corp		1.875		10/15/30		2,929,997
	950,000		Brandywine Operating Partnership LP		4.100		10/01/24		999,735
	1,750,000		Brixmor Operating Partnership LP		3.850		02/01/25		1,873,539
	575,000		Camden Property Trust		3.150		07/01/29		637,550
	675,000		Camden Property Trust		2.800		05/15/30		733,620
	775,000		Crown Castle International Corp		3.650		09/01/27		866,780
	1,050,000		Crown Castle International Corp		3.800		02/15/28		1,188,892
	5,275,000		Crown Castle International Corp		2.250		01/15/31		5,313,867
	1,425,000		Crown Castle International Corp		3.250		01/15/51		1,413,745
	1,850,000	g	Cushman & Wakefield US Borrower LLC		6.750		05/15/28		1,920,577
	625,000		Digital Realty Trust LP		3.700		08/15/27		703,104
	325,000		Duke Realty LP		3.250		06/30/26		360,286
	625,000		Duke Realty LP		4.000		09/15/28		728,594
	925,000		Duke Realty LP		1.750		07/01/30		920,082
	1,150,000		Equinix, Inc		2.150		07/15/30		1,164,180
	775,000		Essex Portfolio LP		3.375		01/15/23		811,852
	2,500,000		Essex Portfolio LP		3.000		01/15/30		2,685,044
	150,000		Healthcare Realty Trust, Inc		3.750		04/15/23		160,995
	1,500,000		Healthcare Realty Trust, Inc		3.875		05/01/25		1,638,988
	1,500,000		Healthcare Realty Trust, Inc		3.625		01/15/28		1,643,172
	525,000		Healthcare Realty Trust, Inc		2.400		03/15/30		531,786
	550,000	h	Healthcare Realty Trust, Inc		2.050		03/15/31		542,625
	1,225,000		Healthcare Trust of America Holdings LP		3.500		08/01/26		1,363,281
	3,750,000		Healthcare Trust of America Holdings LP		3.100		02/15/30		4,031,606
	375,000		Highwoods Realty LP		3.875		03/01/27		406,609
	725,000		Highwoods Realty LP		4.125		03/15/28		799,457
	700,000		Highwoods Realty LP		4.200		04/15/29		785,478
	460,000		Hudson Pacific Properties LP		3.950		11/01/27		494,592
	2,000,000	g	Ladder Capital Finance Holdings LLLP		4.250		02/01/27		1,730,000
	250,000		Life Storage LP		2.200		10/15/30		249,548

250

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	575,000	g	MGM Growth Properties Operating Partnership LP		4.625	%	06/15/25	$	586,500
	1,500,000		Mid-America Apartments LP		4.300		10/15/23		1,638,727
	1,000,000		Mid-America Apartments LP		3.750		06/15/24		1,087,154
	850,000		Mid-America Apartments LP		4.000		11/15/25		959,391
	1,750,000		Mid-America Apartments LP		3.600		06/01/27		1,949,441
	3,925,000		Mid-America Apartments LP		2.750		03/15/30		4,228,721
	1,625,000		Mid-America Apartments LP		1.700		02/15/31		1,598,758
	525,000		National Retail Properties, Inc		3.300		04/15/23		552,526
	550,000		National Retail Properties, Inc		4.000		11/15/25		609,362
	600,000		National Retail Properties, Inc		3.600		12/15/26		648,480
	875,000		Regency Centers LP		3.900		11/01/25		953,884
	925,000		Regency Centers LP		3.600		02/01/27		1,000,506
	1,650,000		Regency Centers LP		2.950		09/15/29		1,708,294
	1,700,000		Retail Properties of America, Inc		4.750		09/15/30		1,702,065
	603,000		SITE Centers Corp		3.625		02/01/25		616,051
	650,000		SITE Centers Corp		4.700		06/01/27		685,455
	4,000,000	g	VICI Properties LP		4.125		08/15/30		3,940,000
	1,150,000		Weingarten Realty Investors		3.375		10/15/22		1,178,011
	450,000		Weingarten Realty Investors		3.500		04/15/23		464,438
	400,000		Weingarten Realty Investors		4.450		01/15/24		426,518
	925,000		Weingarten Realty Investors		3.850		06/01/25		970,221
	300,000		Weingarten Realty Investors		3.250		08/15/26		310,629
			TOTAL REAL ESTATE						84,148,038
RETAILING - 0.6%
	1,800,000		AutoNation, Inc		3.800		11/15/27		1,967,277
	1,950,000		AutoZone, Inc		1.650		01/15/31		1,916,156
	925,000	g	Booz Allen Hamilton, Inc		3.875		09/01/28		949,559
	425,000	g	Camelot Finance S.A.		4.500		11/01/26		434,562
	600,000		CDW LLC		3.250		02/15/29		597,750
	1,775,000		Home Depot, Inc		2.000		04/01/21		1,788,056
	2,250,000	g	JSM Global Sarl		4.750		10/20/30		2,247,795
	925,000	g	L Brands, Inc		6.625		10/01/30		941,187
	250,000	g	Lithia Motors, Inc		5.250		08/01/25		256,875
	2,175,000	g	Lithia Motors, Inc		4.625		12/15/27		2,245,687
	1,515,000		O’Reilly Automotive, Inc		4.875		01/14/21		1,517,256
	790,000		O’Reilly Automotive, Inc		3.550		03/15/26		892,359
	1,400,000		O’Reilly Automotive, Inc		3.600		09/01/27		1,591,766
	1,225,000		O’Reilly Automotive, Inc		4.200		04/01/30		1,471,440
	825,000		O’Reilly Automotive, Inc		1.750		03/15/31		814,795
	2,145,000		Penske Automotive Group, Inc		5.500		05/15/26		2,212,739
	3,450,000	g	PetSmart, Inc		7.125		03/15/23		3,480,187
	600,000	g	PetSmart, Inc		8.875		06/01/25		622,470
	1,475,000	g	Prosus NV		3.680		01/21/30		1,590,290
	3,000,000	g	Staples, Inc		7.500		04/15/26		2,764,380
	1,100,000		Target Corp		3.375		04/15/29		1,278,198
	3,750,000		Target Corp		2.350		02/15/30		4,068,765
	400,000		Target Corp		2.650		09/15/30		447,401
			TOTAL RETAILING						36,096,950
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.5%
	4,600,000		Broadcom, Inc		4.150		11/15/30		5,164,355
	3,980,000		Intel Corp		2.875		05/11/24		4,301,632

251

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	975,000		Intel Corp		2.600	%	05/19/26	$	1,072,529
	2,200,000		Intel Corp		3.750		03/25/27		2,576,405
	1,325,000		Intel Corp		3.734		12/08/47		1,578,772
	3,000,000		Intel Corp		4.750		03/25/50		4,112,579
	700,000		Lam Research Corp		3.750		03/15/26		802,878
	775,000		Lam Research Corp		4.000		03/15/29		928,067
	325,000		Lam Research Corp		1.900		06/15/30		336,496
	325,000		Lam Research Corp		2.875		06/15/50		335,685
	1,300,000	g	NXP BV		4.875		03/01/24		1,461,657
	1,425,000	g	NXP BV		3.875		06/18/26		1,596,458
	725,000	g	NXP BV		3.400		05/01/30		793,093
	700,000		Texas Instruments, Inc		2.625		05/15/24		751,566
	775,000		Texas Instruments, Inc		4.150		05/15/48		1,011,195
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT						26,823,367
SOFTWARE & SERVICES - 1.0%
	2,975,000		Adobe, Inc		2.300		02/01/30		3,208,229
	2,000,000		Baidu, Inc		2.875		07/06/22		2,056,996
	1,275,000		Baidu, Inc		4.375		05/14/24		1,396,645
	550,000	g	Black Knight InfoServ LLC		3.625		09/01/28		555,844
	925,000		Fidelity National Information Services, Inc		3.750		05/21/29		1,087,914
	3,650,000		Fiserv, Inc		2.750		07/01/24		3,901,930
	5,075,000		Fiserv, Inc		3.500		07/01/29		5,776,025
	900,000	g	Gartner, Inc		3.750		10/01/30		910,395
	1,425,000		Global Payments, Inc		2.650		02/15/25		1,512,012
	3,075,000		Global Payments, Inc		3.200		08/15/29		3,354,248
	2,200,000		International Business Machines Corp		2.850		05/13/22		2,290,380
	6,250,000		International Business Machines Corp		1.950		05/15/30		6,433,620
	3,000,000		Microsoft Corp		2.400		08/08/26		3,267,896
	1,165,000		Microsoft Corp		3.300		02/06/27		1,331,514
	471,000		Microsoft Corp		4.100		02/06/37		611,085
	1,180,000		Microsoft Corp		3.700		08/08/46		1,480,663
	279,000		Microsoft Corp		2.525		06/01/50		291,047
	1,375,000	g	Open Text Corp		5.875		06/01/26		1,430,000
	550,000	g	Open Text Holdings, Inc		4.125		02/15/30		565,642
	1,125,000	g	Presidio Holdings, Inc		4.875		02/01/27		1,140,131
	650,000		salesforce.com, Inc		3.700		04/11/28		766,179
	4,725,000		Visa, Inc		2.050		04/15/30		5,049,787
	550,000		Visa, Inc		2.700		04/15/40		593,786
			TOTAL SOFTWARE & SERVICES						49,011,968
TECHNOLOGY HARDWARE & EQUIPMENT - 0.7%
	2,025,000		Amphenol Corp		2.800		02/15/30		2,215,265
	5,575,000		Apple, Inc		2.450		08/04/26		6,073,735
	10,350,000		Apple, Inc		2.050		09/11/26		11,063,300
	1,000,000		Apple, Inc		3.850		05/04/43		1,244,898
	875,000		Apple, Inc		4.650		02/23/46		1,218,416
	3,800,000		Broadcom Corp		3.875		01/15/27		4,213,680
	2,000,000	g	CommScope Finance LLC		8.250		03/01/27		2,080,000
	1,773,000	g	CommScope Technologies LLC		6.000		06/15/25		1,797,024
	525,000		Corning, Inc		4.375		11/15/57		639,390
	637,000	g	Dell International LLC		4.420		06/15/21		652,048
	650,000	g	Dell International LLC		7.125		06/15/24		676,195

252

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	2,400,000	g	Dell International LLC		5.300	%	10/01/29	$	2,749,212
	2,525,000	g	Empresas Publicas de Medellin ESP		4.250		07/18/29		2,521,465
	875,000		Flex Ltd		4.875		06/15/29		1,005,232
	2,425,000	g	NCR Corp		5.000		10/01/28		2,421,969
	1,500,000		Tyco Electronics Group S.A.		3.500		02/03/22		1,548,170
	450,000		Tyco Electronics Group S.A.		3.700		02/15/26		505,071
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						42,625,070
TELECOMMUNICATION SERVICES - 2.4%
	1,385,000		AT&T, Inc		3.875		01/15/26		1,570,116
	1,100,000		AT&T, Inc		3.800		02/15/27		1,240,029
	8,280,000		AT&T, Inc		4.350		03/01/29		9,718,732
	5,120,000		AT&T, Inc		4.300		02/15/30		6,061,825
	2,085,000		AT&T, Inc		4.500		05/15/35		2,459,350
	10,734,000		AT&T, Inc		4.500		03/09/48		12,254,457
	5,500,000		AT&T, Inc		3.650		06/01/51		5,551,087
	2,050,000		AT&T, Inc		3.300		02/01/52		1,907,550
	2,600,000	g	AT&T, Inc		3.550		09/15/55		2,487,155
	2,083,000	g	AT&T, Inc		3.650		09/15/59		2,011,491
	1,875,000	g	Avaya, Inc		6.125		09/15/28		1,914,844
	3,000,000	g	Bharti Airtel Ltd		4.375		06/10/25		3,167,490
	1,325,000	g	C&W Senior Financing Designated Activity Co		7.500		10/15/26		1,387,938
	3,200,000	g	C&W Senior Financing Designated Activity Co		6.875		09/15/27		3,324,000
	1,325,000	g	Front Range BidCo, Inc		4.000		03/01/27		1,304,098
	2,520,000	g	Millicom International Cellular S.A.		5.125		01/15/28		2,616,617
	2,150,000	g	MTN Mauritius Investment Ltd		6.500		10/13/26		2,385,587
	2,000,000	g	Network i2i Ltd		5.650		N/A‡		2,000,000
	500,000		Orange S.A.		5.375		01/13/42		702,515
	1,150,000		Rogers Communications, Inc		3.700		11/15/49		1,284,066
	1,525,000	g	Switch Ltd		3.750		09/15/28		1,540,250
	1,875,000		Telefonica Emisiones SAU		4.103		03/08/27		2,131,714
	8,650,000	g	T-Mobile USA, Inc		3.875		04/15/30		9,835,309
	6,350,000	g,h	T-Mobile USA, Inc		2.550		02/15/31		6,579,108
	750,000	g,h	T-Mobile USA, Inc		3.000		02/15/41		740,430
	725,000	g	T-Mobile USA, Inc		4.500		04/15/50		871,421
	1,200,000	g	Turkcell Iletisim Hizmetleri AS.		5.800		04/11/28		1,168,690
	146,000		Verizon Communications, Inc		3.376		02/15/25		162,564
	1,000,000		Verizon Communications, Inc		4.125		03/16/27		1,179,874
	5,320,000		Verizon Communications, Inc		4.329		09/21/28		6,436,041
	225,000		Verizon Communications, Inc		3.875		02/08/29		265,887
	575,000		Verizon Communications, Inc		3.150		03/22/30		649,335
	9,113,000		Verizon Communications, Inc		4.272		01/15/36		11,224,078
	10,000,000		Verizon Communications, Inc		4.000		03/22/50		12,282,449
	3,200,000		Vodafone Group plc		4.250		09/17/50		3,711,394
	740,000		Vodafone Group plc		7.000		04/04/79		878,136
			TOTAL TELECOMMUNICATION SERVICES						125,005,627
TRANSPORTATION - 1.0%
	2,500,000	g	Adani Ports & Special Economic Zone Ltd		4.000		07/30/27		2,486,415
	1,000,000	g	Adani Ports & Special Economic Zone Ltd		4.200		08/04/27		1,003,359
	2,300,000		Boeing Co		3.250		02/01/35		2,159,927
	1,050,000		Boeing Co		3.750		02/01/50		960,701
	2,300,000		Burlington Northern Santa Fe LLC		3.050		02/15/51		2,498,474
	2,325,000		Canadian Pacific Railway Co		2.050		03/05/30		2,422,642

253

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	2,500,000	g	Cargo Aircraft Management, Inc		4.750	%	02/01/28	$	2,524,625
	1,990,000		CSX Corp		3.250		06/01/27		2,249,150
	700,000		CSX Corp		3.800		03/01/28		816,478
	4,015,000		CSX Corp		4.250		03/15/29		4,834,217
	3,175,000		CSX Corp		2.400		02/15/30		3,399,123
	1,950,000		Delta Air Lines, Inc		2.900		10/28/24		1,735,500
	2,575,000	g	Delta Air Lines, Inc		7.000		05/01/25		2,826,886
	1,275,000	g	Delta Air Lines, Inc		4.500		10/20/25		1,308,469
	1,375,000		Delta Air Lines, Inc		3.750		10/28/29		1,172,215
	1,000,000	g	DP World Ltd		5.625		09/25/48		1,140,000
	50,000		FedEx Corp		3.250		04/01/26		55,657
	8,250,000		FedEx Corp		3.100		08/05/29		9,159,518
	1,100,000	g	Indian Railway Finance Corp Ltd		3.249		02/13/30		1,101,878
	775,000	g	Lima Metro Line 2 Finance Ltd		4.350		04/05/36		855,468
	1,175,000	g	Mileage Plus Holdings LLC		6.500		06/20/27		1,223,469
	1,550,000		Union Pacific Corp		3.950		09/10/28		1,827,196
	2,275,000		Union Pacific Corp		3.839		03/20/60		2,638,279
			TOTAL TRANSPORTATION						50,399,646
UTILITIES - 3.5%
	3,000,000	g	Adani Green Energy UP Ltd		6.250		12/10/24		3,213,244
	325,000		AEP Transmission Co LLC		3.100		12/01/26		365,635
	350,000		AEP Transmission Co LLC		4.000		12/01/46		423,726
	700,000		Alabama Power Co		4.150		08/15/44		853,290
	1,850,000		Ameren Corp		3.650		02/15/26		2,086,934
	525,000		American Water Capital Corp		3.000		12/01/26		569,590
	600,000		American Water Capital Corp		2.800		05/01/30		656,759
	500,000		American Water Capital Corp		4.000		12/01/46		603,542
	1,475,000		American Water Capital Corp		3.750		09/01/47		1,738,021
	400,000		American Water Capital Corp		3.450		05/01/50		447,410
	3,100,000	h	Atmos Energy Corp		1.500		01/15/31		3,085,563
	250,000		Atmos Energy Corp		4.125		10/15/44		309,196
	800,000	g	Azure Power Solar Energy Pvt Ltd		5.650		12/24/24		830,842
	1,325,000		Baltimore Gas & Electric Co		3.750		08/15/47		1,558,005
	1,650,000		Baltimore Gas & Electric Co		3.200		09/15/49		1,772,284
	925,000		Black Hills Corp		4.250		11/30/23		1,014,726
	325,000		Black Hills Corp		3.150		01/15/27		348,424
	300,000		CenterPoint Energy Resources Corp		6.250		02/01/37		398,207
	525,000	g	Clearway Energy Operating LLC		4.750		03/15/28		544,687
	1,000,000		CMS Energy Corp		3.600		11/15/25		1,117,273
	3,050,000		CMS Energy Corp		4.750		06/01/50		3,230,443
	200,000		Commonwealth Edison Co		5.900		03/15/36		286,448
	2,000,000		Consumers Energy Co		3.950		07/15/47		2,452,027
	1,000,000		Consumers Energy Co		2.500		05/01/60		937,202
	1,225,000		Dominion Energy Gas Holdings LLC		2.500		11/15/24		1,301,876
	750,000		Dominion Resources, Inc		2.000		08/15/21		759,375
	3,275,000		DTE Electric Co		2.250		03/01/30		3,485,838
	1,675,000		DTE Electric Co		2.950		03/01/50		1,768,786
	1,175,000		Duke Energy Corp		1.800		09/01/21		1,189,206
	1,725,000		Duke Energy Corp		2.650		09/01/26		1,866,743
	1,175,000		Duke Energy Corp		3.750		09/01/46		1,337,213
	5,000,000		Duke Energy Florida LLC		3.400		10/01/46		5,603,168
	2,000,000		Enel Chile S.A.		4.875		06/12/28		2,361,000

254

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	3,000,000	g	ENN Energy Holdings Ltd		2.625	%	09/17/30	$	2,997,840
	1,125,000		Entergy Corp		2.950		09/01/26		1,241,942
	3,450,000	g	Eskom Holdings SOC Ltd		8.450		08/10/28		3,166,285
	900,000		Eversource Energy		1.650		08/15/30		896,251
	6,775,000		Exelon Corp		4.050		04/15/30		7,923,633
	1,850,000		Exelon Generation Co LLC		3.400		03/15/22		1,917,503
	50,000	g	FirstEnergy Transmission LLC		4.350		01/15/25		55,795
	1,425,000		Florida Power & Light Co		3.990		03/01/49		1,820,366
	1,575,000	g	Hunt Oil Co of Peru LLC Sucursal Del Peru		6.375		06/01/28		1,569,094
	750,000		Indiana Michigan Power Co		3.750		07/01/47		870,232
	125,000		Integrys Energy Group, Inc		4.170		11/01/20		125,373
	3,000,000	g	Israel Electric Corp Ltd		4.250		08/14/28		3,404,038
	1,525,000	g	Kallpa Generacion SA		4.125		08/16/27		1,593,625
	1,900,000	g	KazTransGas JSC		4.375		09/26/27		2,044,321
	775,000		MidAmerican Energy Co		3.650		04/15/29		922,820
	1,550,000		MidAmerican Energy Co		3.650		08/01/48		1,826,296
	1,400,000	g	Minejesa Capital BV		4.625		08/10/30		1,438,654
	775,000	g	Narragansett Electric Co		3.395		04/09/30		882,981
	1,000,000		Nevada Power Co		5.450		05/15/41		1,347,784
	1,150,000	g	Nexa Resources S.A.		6.500		01/18/28		1,254,650
	885,000		NextEra Energy Capital Holdings, Inc		3.250		04/01/26		989,603
	2,525,000		NextEra Energy Capital Holdings, Inc		2.750		11/01/29		2,723,128
	6,050,000		NextEra Energy Capital Holdings, Inc		2.250		06/01/30		6,296,231
	550,000	g	NextEra Energy Operating Partners LP		4.250		09/15/24		573,375
	1,700,000		NiSource, Inc		3.490		05/15/27		1,893,805
	1,400,000		NiSource, Inc		3.600		05/01/30		1,594,209
	6,825,000		NiSource, Inc		1.700		02/15/31		6,699,827
	1,400,000		Northern States Power Co		3.600		09/15/47		1,658,222
	1,075,000		Northern States Power Co		2.900		03/01/50		1,148,244
	1,850,000		Northern States Power Co		2.600		06/01/51		1,873,211
	165,000		NRG Energy, Inc		6.625		01/15/27		174,487
	1,350,000		NRG Energy, Inc		5.750		01/15/28		1,456,312
	500,000		NSTAR Electric Co		3.950		04/01/30		604,424
	1,550,000		Ohio Power Co		4.150		04/01/48		1,925,828
	1,550,000		Ohio Power Co		4.000		06/01/49		1,893,710
	575,000		ONE Gas, Inc		3.610		02/01/24		625,219
	600,000	g	Pattern Energy Operations LP		4.500		08/15/28		622,500
	825,000		PECO Energy Co		3.000		09/15/49		878,558
	2,325,000		PECO Energy Co		2.800		06/15/50		2,405,217
	2,000,000	g	Pelabuhan Indonesia III PT		4.875		10/01/24		2,195,000
	2,000,000	g	Perusahaan Listrik Negara PT		4.125		05/15/27		2,155,000
	1,800,000	g	Perusahaan Listrik Negara PT		5.450		05/21/28		2,106,000
	2,000,000	†,g,q	Petra Diamonds US Treasury plc		7.250		05/01/22		740,000
	50,000		Potomac Electric Power Co		7.900		12/15/38		75,523
	300,000		PPL Capital Funding, Inc		3.950		03/15/24		329,378
	1,750,000	g	Promigas S.A. ESP		3.750		10/16/29		1,715,000
	2,475,000		PSEG Power LLC		3.850		06/01/23		2,662,679
	925,000	g	PTTEP Treasury Center Co Ltd		2.587		06/10/27		953,661
	550,000		Public Service Co of Colorado		4.750		08/15/41		708,839
	1,600,000		Public Service Co of Colorado		4.050		09/15/49		2,019,945
	275,000		Public Service Co of Colorado		3.200		03/01/50		312,080
	1,733,000		Public Service Electric & Gas Co		3.850		05/01/49		2,172,373
	2,975,000		Public Service Electric & Gas Co		2.050		08/01/50		2,693,573
	1,650,000		Public Service Enterprise Group, Inc		0.800		08/15/25		1,638,728

255

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	2,500,000	g	Rumo Luxembourg Sarl		5.250	%	01/10/28	$	2,600,500
	8,400,000		Sempra Energy		4.875		N/A‡		8,631,000
	2,587,555	g	Solar Star Funding LLC		3.950		06/30/35		2,690,073
	1,325,000		Southern Co		4.400		07/01/46		1,568,170
	10,000,000		Southern Co		4.000		01/15/51		10,027,734
	1,800,000		Southern Co Gas Capital Corp		3.875		11/15/25		2,020,491
	625,000		Southern Co Gas Capital Corp		4.400		06/01/43		741,883
	425,000		Southern Co Gas Capital Corp		3.950		10/01/46		474,507
	1,650,000		Southern Power Co		2.500		12/15/21		1,688,820
	1,550,000		Southern Power Co		4.150		12/01/25		1,776,975
	2,500,000	g	Talen Energy Supply LLC		7.625		06/01/28		2,500,000
	2,000,000	g	Tengizchevroil Finance Co International Ltd		2.625		08/15/25		2,008,310
	650,000		Virginia Electric & Power Co		2.950		11/15/26		723,238
	650,000		Virginia Electric & Power Co		3.500		03/15/27		739,435
	775,000		Virginia Electric & Power Co		3.800		09/15/47		938,282
	750,000	g	Vistra Operations Co LLC		5.500		09/01/26		782,812
	850,000		Wisconsin Power & Light Co		4.100		10/15/44		991,697
	575,000		Xcel Energy, Inc		3.350		12/01/26		647,592
	215,000		Xcel Energy, Inc		4.800		09/15/41		268,614
			TOTAL UTILITIES						186,150,188
			TOTAL CORPORATE BONDS						2,259,069,306
			(Cost $2,135,701,050)
GOVERNMENT BONDS - 33.9%
AGENCY SECURITIES - 0.1%
	2,500,000	g	Reliance Industries Ltd		3.667		11/30/27		2,744,036
			TOTAL AGENCY SECURITIES						2,744,036
FOREIGN GOVERNMENT BONDS - 3.2%
	3,850,000	g	Abu Dhabi Government International Bond		3.125		09/30/49		4,118,345
	3,325,000	g	Arab Petroleum Investments Corp		4.125		09/18/23		3,576,038
	41,622		Argentine Republic Government International Bond		1.000		07/09/29		18,959
	1,197,950		Argentine Republic Government International Bond (Step Bond)		0.125		07/09/30		499,545
	550,000	g	Banque Ouest Africaine de Developpement		5.000		07/27/27		593,515
	2,000,000	g	Banque Ouest Africaine de Developpement		4.700		10/22/31		2,087,460
	17,500	g	Barbados Government International Bond		6.500		02/01/21		17,369
	287,000	g	Barbados Government International Bond		6.500		10/01/29		278,763
	4,000,000	g	Bermuda Government International Bond		3.717		01/25/27		4,380,040
	4,310,000	g	Bermuda Government International Bond		4.750		02/15/29		5,140,537
	550,000	g	Bermuda Government International Bond		2.375		08/20/30		556,187
	1,000,000	g	BNG Bank NV		3.125		11/08/21		1,031,324
	1,500,000	g	BNG Bank NV		1.500		10/16/24		1,564,476
	1,450,000		Brazilian Government International Bond		3.875		06/12/30		1,448,550
	3,100,000		Brazilian Government International Bond		5.625		02/21/47		3,363,500
	3,575,000		Chile Government International Bond		2.550		01/27/32		3,771,625
	1,700,000		Chile Government International Bond		3.500		01/25/50		1,938,000
	3,000,000		Colombia Government International Bond		5.000		06/15/45		3,495,000
	1,850,000	g	Costa Rica Government International Bond		5.625		04/30/43		1,524,400

256

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
DOP	81,200,000	g	Dominican Republic Government International Bond		8.900	%	02/15/23	$	1,386,054
DOP	90,000,000	g	Dominican Republic Government International Bond		9.750		06/05/26		1,559,319
DOP	160,000,000	g	Dominican Republic Government International Bond		12.000		03/05/32		3,181,577
$	3,000,000	g	Dominican Republic Government International Bond		4.875		09/23/32		2,983,500
	3,000,000	g	Dominican Republic Government International Bond		6.500		02/15/48		3,034,500
	170,283	g	Ecuador Government International Bond		0.000		07/31/30		78,977
	496,125	g	Ecuador Government International Bond (Step Bond)		0.500		07/31/30		334,889
	1,300,162	g	Ecuador Government International Bond (Step Bond)		0.500		07/31/35		718,353
	595,875	g	Ecuador Government International Bond (Step Bond)		0.500		07/31/40		297,193
	2,525,000	g	Egypt Government International Bond		5.577		02/21/23		2,591,143
EUR	1,400,000	g	Egypt Government International Bond		5.625		04/16/30		1,482,662
$	2,475,000	g	Egypt Government International Bond		8.500		01/31/47		2,392,262
	2,250,000	g	Egypt Government International Bond		8.875		05/29/50		2,228,215
	1,200,000	g	El Salvador Government International Bond		7.625		02/01/41		1,003,200
	1,375,000	g	Export-Import Bank of India		3.875		02/01/28		1,441,907
	2,200,000	g	Ghana Government International Bond		8.125		03/26/32		1,924,233
	1,675,000	g	Guatemala Government International Bond		4.375		06/05/27		1,791,413
	1,200,000	g	Guatemala Government International Bond		6.125		06/01/50		1,431,000
	425,000	g	Honduras Government International Bond		5.625		06/24/30		454,538
	2,500,000	g	Indonesia Government International Bond		4.625		04/15/43		2,919,671
	1,031,250	g	Iraq Government International Bond		5.800		01/15/28		918,895
	3,100,000		Israel Government International Bond		3.250		01/17/28		3,531,873
	2,175,000		Israel Government International Bond		4.125		01/17/48		2,751,506
	3,025,000		Jamaica Government International Bond		8.000		03/15/39		3,918,888
	2,500,000	g	Japan Finance Organization for Municipalities		3.000		03/12/24		2,700,263
	1,750,000	g	Jordan Government International Bond		4.950		07/07/25		1,742,781
	550,000	g	Kazakhstan Government International Bond		4.875		10/14/44		717,651
	2,500,000	g	Kenya Government International Bond		7.000		05/22/27		2,451,393
	775,000	g	Kommunalbanken AS.		1.375		10/26/20		775,581
	1,560,000	g	Kommunalbanken AS.		2.750		02/05/24		1,682,864
	1,650,000	g	Korea Housing Finance Corp		2.000		10/11/21		1,672,194
	1,500,000	g	Korea Housing Finance Corp		3.000		10/31/22		1,570,470
	3,550,000	g	Kuwait Government International Bond		2.750		03/20/22		3,644,227
	2,200,000		Mexico Government International Bond		4.150		03/28/27		2,444,200
	575,000		Mexico Government International Bond		3.250		04/16/30		586,793
	1,859,000		Mexico Government International Bond		6.050		01/11/40		2,324,549
	1,350,000	g	Morocco Government International Bond		5.500		12/11/42		1,675,372
	1,400,000	g	Namibia Government International Bond		5.250		10/29/25		1,387,561
	1,500,000	g	Nederlandse Waterschapsbank NV		1.875		04/14/22		1,536,855
	2,425,000	g	Nigeria Government International Bond		6.500		11/28/27		2,307,591
	3,000,000		Panama Government International Bond		4.300		04/29/53		3,686,250
	1,600,000	g	Panama Notas del Tesoro		3.750		04/17/26		1,709,280
	925,000	g	Paraguay Government International Bond		4.700		03/27/27		1,048,497
	1,475,000	g	Paraguay Government International Bond		5.400		03/30/50		1,786,240
	3,400,000	g	Perusahaan Penerbit SBSN Indonesia III		3.900		08/20/24		3,734,220
	3,350,000	g	Perusahaan Penerbit SBSN Indonesia III		4.400		03/01/28		3,825,064

257

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
PEN	6,775,000	g	Peruvian Government International Bond		5.400	%	08/12/34	$	1,965,997
$	539,583	g	Petroamazonas EP		4.625		12/06/21		480,229
	1,900,000		Philippine Government International Bond		2.950		05/05/45		2,004,077
	1,650,000	g	Provincia de Buenos Aires		7.875		06/15/27		643,500
	1,500,000	†,g	Provincia de Mendoza Argentina		8.375		05/19/24		975,015
	700,000	g	Qatar Government International Bond		3.400		04/16/25		767,081
	1,375,000	g	Qatar Government International Bond		3.750		04/16/30		1,593,170
	5,000,000		Republic of Italy Government International Bond		4.000		10/17/49		5,362,590
	2,475,000		Republic of South Africa Government International Bond		4.850		09/27/27		2,439,616
	2,150,000	g	Republic of Uzbekistan Government International Bond		4.750		02/20/24		2,257,150
	2,750,000	g	Romanian Government International Bond		4.375		08/22/23		2,987,062
	1,175,000	g	Saudi Government International Bond		4.500		04/17/30		1,404,310
	2,000,000	g	Saudi Government International Bond		3.750		01/21/55		2,163,200
	2,350,000		South Africa Government International Bond		4.300		10/12/28		2,189,152
	1,125,000	g	Sri Lanka Government International Bond		6.850		03/14/24		821,011
	1,550,000	g	Sri Lanka Government International Bond		6.850		11/03/25		1,084,563
	2,050,000		State of Israel		3.375		01/15/50		2,269,957
	2,400,000		State of Israel		3.800		05/13/60		2,860,302
EUR	2,275,000	g	Ukraine Government International Bond		4.375		01/27/30		2,172,101
$	2,500,000		Uruguay Government International Bond		4.125		11/20/45		2,959,375
	3,000,000	g	Zambia Government International Bond		8.500		04/14/24		1,460,432
			TOTAL FOREIGN GOVERNMENT BONDS						169,629,187
MORTGAGE BACKED - 21.3%
	383		Federal Home Loan Mortgage Corp (FHLMC)		8.250		07/15/21		386
	163		FHLMC		7.000		04/15/22		165
	2,632,000		FHLMC		3.000		10/15/33		2,937,950
	4,058,720		FHLMC		3.500		08/15/43		4,188,483
	3,831,758		FHLMC		3.500		03/15/44		4,199,770
	3,361,470	i	FHLMC		5.768		03/15/44		641,318
	10,210,267		FHLMC		4.000		10/01/47		11,301,093
	584,625		FHLMC		4.000		06/01/48		639,681
	6,494,495	i	FHLMC		9.676		06/15/48		8,161,704
	355,229		FHLMC		4.000		07/01/48		390,773
	5,001,843	i	FHLMC		9.596		10/15/48		6,361,653
	73,234,754		FHLMC		3.000		11/01/49		77,901,472
	1,028		Federal Home Loan Mortgage Corp Gold (FGLMC)		8.000		01/01/31		1,062
	192,228		FGLMC		7.000		12/01/33		225,033
	33,023		FGLMC		4.500		10/01/34		36,385
	52,229		FGLMC		7.000		05/01/35		60,569
	1,873,886		FGLMC		5.000		06/01/36		2,155,737
	991,619		FGLMC		4.500		10/01/44		1,107,175
	123,595		FGLMC		4.500		11/01/44		137,946
	205,849		FGLMC		4.500		11/01/44		229,783
	86,827		FGLMC		4.500		12/01/44		95,440
	130,878		FGLMC		4.500		12/01/44		146,148
	887,945		FGLMC		3.500		04/01/45		981,613
	3,624,731		FGLMC		3.500		08/01/45		4,033,694
	7,710,877		FGLMC		3.500		10/01/45		8,505,573
	5,205,468		FGLMC		4.000		12/01/45		5,784,819

258

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	18,661,958		FGLMC		3.500	%	08/01/46	$	20,564,065
	28,216,512		FGLMC		3.000		02/01/47		29,595,365
	2,265,787		FGLMC		4.500		06/01/47		2,528,850
	2,708,516		FGLMC		4.000		09/01/47		2,968,406
	2,957,005		FGLMC		3.500		12/01/47		3,239,975
	31,233,783		FGLMC		3.500		03/01/48		34,149,029
	9,673,133		FGLMC		4.000		03/01/48		10,766,171
	2,520,432		FGLMC		4.000		07/01/48		2,773,263
	18,974,924		FGLMC		4.500		08/01/48		20,983,753
	1,618		Federal National Mortgage Association (FNMA)		7.000		10/25/21		1,630
	1,248		FNMA		7.000		07/01/22		1,258
	536		FNMA		6.500		07/25/22		557
	1,611		FNMA		9.000		11/01/25		1,767
	21,096		FNMA		7.000		05/01/26		23,240
	58,133		FNMA		7.000		07/25/26		64,336
	1,426		FNMA		7.500		01/01/29		1,591
	702		FNMA		7.500		02/01/30		811
	257,197		FNMA		6.500		12/01/31		289,471
	315,487		FNMA		6.000		04/01/32		350,475
	2,343,096		FNMA		3.500		05/01/32		2,499,274
	234,778		FNMA		7.000		07/01/32		271,207
	72,737		FNMA		7.000		07/01/32		85,461
	52,106		FNMA		7.000		07/01/32		60,488
	2,101,508		FNMA		3.500		11/01/32		2,245,228
	57,752		FNMA		4.500		10/01/33		63,686
	44,732		FNMA		6.000		03/01/34		49,446
	2,607,257		FNMA		5.000		05/01/35		2,996,744
	214,904		FNMA		5.000		06/25/35		223,840
	1,478,380		FNMA		5.000		10/01/35		1,701,130
	26,000,000	h	FNMA		2.000		10/25/35		27,015,625
	1,114,183		FNMA		5.000		02/01/36		1,281,666
	1,438,422		FNMA		6.500		08/01/37		1,623,600
	69,153		FNMA		6.000		09/01/37		79,639
	822,228		FNMA		5.500		11/01/38		955,095
	863,042		FNMA		5.500		03/01/39		1,016,452
	858,516		FNMA		6.000		09/01/39		1,017,692
	14,021,526		FNMA		3.000		05/01/40		14,715,556
	4,964,926		FNMA		3.500		05/01/40		5,262,984
	510,639		FNMA		5.000		09/01/40		588,155
	664,400		FNMA		5.000		05/01/41		765,497
	5,884,948		FNMA		4.000		09/01/42		6,447,607
	499,180	i	FNMA		3.229		12/25/42		179,153
	1,809,069		FNMA		3.000		04/25/43		1,900,567
	4,499,269	i	FNMA		5.802		09/25/43		1,007,775
	3,816,487		FNMA		4.000		01/01/44		4,249,366
	1,360,050		FNMA		4.500		02/01/44		1,519,325
	207,838		FNMA		4.500		03/01/44		234,677
	1,083,930		FNMA		4.500		06/01/44		1,210,917
	3,308,184		FNMA		4.500		10/01/44		3,695,975
	814,632		FNMA		4.000		11/01/44		883,964
	1,027,913		FNMA		5.000		11/01/44		1,181,364
	1,020,749		FNMA		4.000		01/01/45		1,116,007
	4,628,809		FNMA		3.000		02/25/45		4,850,327
	4,196,405		FNMA		3.000		02/25/45		4,321,596

259

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	244,824		FNMA		3.500	%	03/01/45	$	270,570
	180,767		FNMA		3.500		03/01/45		199,776
	400,165		FNMA		4.500		03/01/45		446,941
	2,653,099		FNMA		3.000		03/25/45		2,749,383
	3,884,715		FNMA		3.500		04/25/45		4,052,945
	2,354,926		FNMA		3.500		05/01/45		2,619,764
	7,192,893		FNMA		4.000		06/01/45		7,935,790
	2,718,720		FNMA		4.000		12/01/45		3,025,114
	858,870		FNMA		4.000		12/01/45		936,206
	8,692,967		FNMA		3.000		12/25/45		9,045,240
	1,135,430		FNMA		3.500		01/01/46		1,252,166
	6,283,319		FNMA		4.000		01/01/46		6,997,826
	3,766,761		FNMA		4.000		03/01/46		4,154,698
	594,692		FNMA		3.500		06/01/46		655,836
	5,747,989		FNMA		3.500		07/01/46		6,338,970
	7,116,540		FNMA		3.500		07/01/46		7,842,473
	249,595		FNMA		3.000		08/01/46		262,145
	5,901,612		FNMA		3.000		10/01/46		6,081,127
	2,090,763		FNMA		3.500		10/01/46		2,305,736
	30,196,888		FNMA		3.000		11/01/46		31,741,967
	6,859,484		FNMA		3.500		12/01/46		7,274,255
	32,140,430		FNMA		3.500		01/01/47		34,026,893
	2,365,601		FNMA		3.000		04/25/47		2,540,011
	3,200,073		FNMA		4.500		05/01/47		3,587,909
	10,364,812		FNMA		3.500		08/01/47		11,080,586
	8,569,183		FNMA		3.500		09/01/47		9,134,920
	3,768,821		FNMA		4.000		09/01/47		4,042,198
	32,208,558		FNMA		4.000		09/01/47		34,483,541
	5,066,231		FNMA		3.000		11/01/47		5,218,012
	2,103,795		FNMA		3.500		11/01/47		2,324,687
	9,656,619		FNMA		4.000		12/01/47		10,749,231
	1,256,927		FNMA		4.000		12/01/47		1,346,714
	18,957,805		FNMA		3.500		01/01/48		20,969,661
	1,634,468		FNMA		3.500		01/01/48		1,797,814
	10,923,722		FNMA		4.500		01/01/48		12,294,774
	2,130,461		FNMA		4.500		02/01/48		2,396,587
	18,585,099		FNMA		3.000		02/25/48		19,753,463
	4,071,519		FNMA		4.000		03/01/48		4,501,798
	9,213,611		FNMA		4.500		03/01/48		10,344,167
	847,370		FNMA		4.000		04/01/48		904,788
	7,473,060		FNMA		4.500		05/01/48		8,390,088
	5,548,567		FNMA		4.500		05/01/48		6,192,700
	4,277,780		FNMA		5.000		08/01/48		4,849,076
	4,975,885		FNMA		0.000		11/25/48		4,612,767
	4,975,885		FNMA		3.000		11/25/48		554,340
	8,043		FNMA		3.000		05/01/49		8,282
	959,290		FNMA		3.000		08/01/49		1,044,138
	70,000,000	h	FNMA		2.500		10/01/50		73,476,133
	26,000,000	h	FNMA		2.000		10/25/50		26,877,500
	54,000,000		FNMA		2.000		11/25/50		55,689,071
	70,000,000	h	FNMA		2.500		11/25/50		73,266,880
	30,000,000	h	FNMA		3.000		11/25/50		31,433,203

260

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	81,091		Government National Mortgage Association (GNMA)		5.000	%	02/15/33	$	88,852
	193,788		GNMA		5.000		09/15/33		220,289
	3,956,396		GNMA		3.700		10/15/33		4,368,243
	19,215		GNMA		5.500		04/15/34		22,390
	19,881		GNMA		5.000		04/15/38		22,290
	11,607		GNMA		4.500		02/20/39		13,396
	1,164,487		GNMA		4.500		02/20/41		1,309,197
	15,674		GNMA		4.500		08/20/41		17,709
	53,508		GNMA		4.500		09/20/41		61,607
	10,974		GNMA		4.500		01/20/44		12,666
	9,698		GNMA		4.500		02/20/44		11,171
	24,857		GNMA		4.500		05/20/44		28,663
	156,906		GNMA		4.500		05/20/44		180,583
	179,215		GNMA		4.500		08/20/44		206,566
	115,749		GNMA		4.500		09/20/44		133,279
	54,141		GNMA		4.500		10/20/44		59,822
	27,373		GNMA		4.500		11/20/44		29,641
	111,125		GNMA		4.500		12/20/44		128,111
	143,958		GNMA		4.500		02/20/45		162,314
	178,900		GNMA		4.500		08/20/45		206,264
	178,517		GNMA		4.500		08/20/45		205,974
	161,212		GNMA		4.500		12/20/45		185,778
	6,566,223		GNMA		4.000		06/20/46		766,393
	66,000,000	h	GNMA		3.000		10/20/46		69,104,062
	7,545,451		GNMA		3.500		01/20/49		8,266,269
	44,000,000	h	GNMA		2.000		10/20/50		45,705,000
	42,000,000	h	GNMA		2.500		10/20/50		43,935,938
			TOTAL MORTGAGE BACKED						1,125,379,850
MUNICIPAL BONDS - 4.5%
	1,000,000		Anaheim City School District		3.825		08/01/23		1,087,060
	2,000,000		California State University		3.803		11/01/30		2,321,280
	9,745,000		Chicago Housing Authority		3.922		01/01/27		10,938,957
	7,500,000		Chicago Housing Authority		4.361		01/01/38		8,611,650
	1,620,000		City & County of San Francisco CA Community Facilities District		3.000		09/01/25		1,727,536
	1,200,000		City & County of San Francisco CA Community Facilities District		3.250		09/01/27		1,313,208
	5,500,000		City of Austin TX Electric Utility Revenue		3.336		11/15/39		6,027,120
	5,500,000		City of Cleveland OH Airport System Revenue		2.492		01/01/25		5,684,195
	4,155,000		City of Cleveland OH Airport System Revenue		2.832		01/01/30		4,262,947
	1,040,000		City of Fort Worth TX		3.955		03/01/32		1,095,494
	1,390,000		City of Fort Worth TX		4.088		03/01/37		1,456,706
	2,500,000		City of Inglewood CA		4.300		09/01/40		2,753,425
	7,300,000		City of New York NY		2.280		08/01/25		7,685,294
	500,000		City of San Angelo TX Water & Sewer Revenue		4.261		02/15/37		520,910
	2,995,000		County of Miami-Dade FL Aviation Revenue		2.218		10/01/22		3,033,546
	5,000,000		County of Miami-Dade FL Aviation Revenue		2.368		10/01/23		5,100,350
	3,425,000		County of Miami-Dade FL Aviation Revenue		2.949		10/01/25		3,592,654
	1,555,000		County of Miami-Dade FL Aviation Revenue		3.354		10/01/29		1,660,569
	5,475,000		County of Miami-Dade FL Aviation Revenue		4.280		10/01/41		5,904,350
	2,000,000		Denver City & County School District No		4.242		12/15/37		2,425,220
	2,000,000		Florida Municipal Power Agency		2.769		10/01/23		2,045,800

261

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	2,100,000		Florida Municipal Power Agency		2.919	%	10/01/24	$	2,172,471
	3,000,000		Florida Municipal Power Agency		3.059		10/01/25		3,143,520
	7,920,000		Grand Parkway Transportation Corp		3.236		10/01/52		8,234,028
	600,000		Grant County Public Utility District No 2		5.630		01/01/27		760,872
	620,000		Great Lakes Water Authority Water Supply System Revenue		1.684		07/01/22		632,561
	1,405,000		Great Lakes Water Authority Water Supply System Revenue		1.879		07/01/23		1,453,908
	1,250,000		Great Lakes Water Authority Water Supply System Revenue		1.984		07/01/24		1,307,737
	845,000		Illinois Housing Development Authority		4.105		07/01/27		890,055
	2,430,000		Indiana Finance Authority		3.166		07/01/30		2,700,751
	2,270,000		Los Angeles County Public Works Financing Authority		2.910		12/01/20		2,279,103
	1,250,000		Los Angeles County Public Works Financing Authority		3.450		12/01/22		1,326,638
	2,000,000		Los Angeles County Redevelopment Agency		2.000		09/01/22		2,053,600
	3,960,000		Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy		4.000		08/01/24		4,424,864
	3,840,000		Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy		3.375		09/01/35		4,042,176
	1,250,000		Maryland Community Development Administration Housing Revenue		2.713		03/01/25		1,317,850
	5,000,000		Maryland Health & Higher Educational Facilities Authority		3.632		07/01/24		5,420,800
	410,000		Massachusetts Housing Finance Agency		4.786		12/01/32		428,688
	1,135,000		Massachusetts Housing Finance Agency		4.621		12/01/38		1,158,347
	565,000		Massachusetts Housing Finance Agency		4.721		06/01/40		576,679
	3,500,000		Massachusetts Water Resources Authority		2.453		08/01/31		3,757,600
	3,500,000		Massachusetts Water Resources Authority		2.553		08/01/32		3,764,425
	500,000		New Jersey Economic Development Authority		3.700		06/15/21		507,710
	3,515,000		New Jersey Economic Development Authority		4.150		06/15/22		3,677,182
	1,615,000		New Jersey Institute of Technology		4.177		07/01/37		1,756,845
	2,655,000		New York City Transitional Finance Authority Future Tax Secured Revenue		5.000		02/01/23		2,921,164
	1,000,000		New York City Transitional Finance Authority Future Tax Secured Revenue		3.780		02/01/26		1,105,160
	1,000,000		New York State Dormitory Authority		2.012		07/01/28		1,019,190
	9,960,000		New York State Dormitory Authority		2.512		07/01/33		10,351,826
	2,495,000		New York Transportation Development Corp		5.000		01/01/27		2,730,154
	7,995,000		New York Transportation Development Corp		4.248		09/01/35		8,896,756
	5,000,000	†,g,q	Oregon State Business Development Commission		6.500		04/01/31		3,242,450
	780,000	g	Oregon State Business Development Commission		0.000		04/01/37		675,238
	2,500,000		Palm Beach County Solid Waste Authority		2.636		10/01/24		2,687,775
	11,235,000		Port Authority of New York & New Jersey		1.086		07/01/23		11,395,998
	1,690,000		Port of Corpus Christi Authority of Nueces County		2.888		12/01/21		1,733,281
	2,000,000		Port of Seattle WA		3.471		05/01/31		2,138,280
	3,975,000		Public Finance Authority		4.269		07/01/40		4,709,421
	860,000		Public Finance Authority		4.269		07/01/40		1,032,404
	1,390,000		Regents of the University of California Medical Center Pooled Revenue		2.659		05/15/28		1,527,068

262

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	1,800,000		Regents of the University of California Medical Center Pooled Revenue		2.759	%	05/15/29	$	1,997,658
	5,000,000		Rhode Island Convention Center Authority		3.195		05/15/26		5,238,850
	3,750,000		Rhode Island Convention Center Authority		3.265		05/15/27		3,937,012
	5,000,000		San Jose Redevelopment Agency		3.250		08/01/29		5,615,500
	2,045,000		Sangamon County Water Reclamation District		3.272		01/01/37		2,100,951
	2,100,000		State of Colorado		4.047		09/01/38		2,333,835
	500,000		University of California		2.676		05/15/21		507,085
	4,500,000		University of California		2.817		05/15/24		4,860,765
	7,000,000		University of California		3.063		07/01/25		7,735,420
	3,000,000		University of California		3.169		05/15/29		3,395,100
	4,385,000		Virgin Islands Public Finance Authority		5.000		10/01/21		4,327,206
	2,740,000		Virginia Housing Development Authority		3.668		10/01/27		2,842,914
	1,245,000		Wake Forest University		3.093		06/01/26		1,336,159
			TOTAL MUNICIPAL BONDS						239,431,301
U.S. TREASURY SECURITIES - 4.8%
	21,860,800	k	United States Treasury Inflation Indexed Bonds		0.125		04/15/21		21,954,733
	10,652,200	k	United States Treasury Inflation Indexed Bonds		0.125		04/15/22		10,839,238
	3,900,000		United States Treasury Note		0.125		06/30/22		3,899,086
	11,155,000		United States Treasury Note		0.125		09/15/23		11,144,542
	11,670,000		United States Treasury Note		0.625		08/15/30		11,602,533
	90,000,000		United States Treasury Note		1.125		08/15/40		88,312,500
	95,407,000		United States Treasury Note		1.250		05/15/50		90,413,040
	18,600,000		United States Treasury Note		1.375		08/15/50		18,198,937
			TOTAL U.S. TREASURY SECURITIES						256,364,609
			TOTAL GOVERNMENT BONDS						1,793,548,983
			(Cost $1,748,320,192)
STRUCTURED ASSETS - 17.9%
ASSET BACKED - 7.1%
	2,938,519	g	AASET Trust		4.335		01/16/40		2,050,555
			Series - 2020 1A (Class B)
	961,406	g	AASET Trust		6.413		01/16/40		398,092
			Series - 2020 1A (Class C)
	6,946,829	g	Adams Outdoor Advertising LP		4.810		11/15/48		7,227,134
			Series - 2018 1 (Class A)
	6,500,000	g	Adams Outdoor Advertising LP		7.356		11/15/48		6,444,702
			Series - 2018 1 (Class C)
	1,165,492		American Airlines Pass Through Trust		3.575		01/15/28		1,118,234
			Series - 2016 1 (Class AA)
	1,559,631	g	American Homes 4 Rent Trust		3.786		10/17/36		1,683,965
			Series - 2014 SFR2 (Class A)
	700,000		AmeriCredit Automobile Receivables Trust		2.130		03/18/26		708,969
			Series - 2020 2 (Class D)
	1,358,696	g	AMSR Trust		1.819		04/17/37		1,385,264
			Series - 2020 SFR1 (Class A)
	2,625,000	g,i	AMSR Trust		3.247		01/19/39		2,684,369
			Series - 2019 SFR1 (Class D)
	1,000,000	g,i	Apidos CLO XXIX		1.795		07/25/30		979,086
			Series - 2018 29A (Class A2)
	939,561	†,g	Apollo Aviation Securitization Equity Trust		6.413		01/16/38		328,846
			Series - 2018 1A (Class C)

263

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	975,668	g	Apollo Aviation Securitization Equity Trust		3.844	%	05/15/39	$	909,043
			Series - 2019 1 (Class A)
	4,015,000	g	Applebee’s Funding LLC		4.194		06/07/49		3,720,179
			Series - 2019 1A (Class A2I)
	1,730,000	g	Applebee’s Funding LLC		4.723		06/07/49		1,500,360
			Series - 2019 1A (Class A2II)
	2,150,000	g,i	AREIT Trust		1.172		09/14/36		2,118,360
			Series - 2019 CRE3 (Class A)
	245,036	i	Asset Backed Securities Corp Home Equity Loan Trust		3.386		08/25/34		241,331
			Series - 2004 HE5 (Class M1)
	3,000,000	g	Avis Budget Rental Car Funding AESOP LLC		3.780		06/20/22		3,028,603
			Series - 2016 1A (Class B)
	5,000,000	g	Avis Budget Rental Car Funding AESOP LLC		3.360		11/20/22		5,065,091
			Series - 2016 2A (Class B)
	6,830,000	g	Avis Budget Rental Car Funding AESOP LLC		4.830		11/20/22		6,932,931
			Series - 2016 2A (Class C)
	1,500,000	g	Avis Budget Rental Car Funding AESOP LLC		4.150		09/20/23		1,476,415
			Series - 2017 1A (Class C)
	8,500,000	g	Avis Budget Rental Car Funding AESOP LLC		2.970		03/20/24		8,771,200
			Series - 2017 2A (Class A)
	975,000	g	Avis Budget Rental Car Funding AESOP LLC		4.950		03/20/25		1,019,299
			Series - 2018 2A (Class C)
	1,910,000	g	Avis Budget Rental Car Funding AESOP LLC		4.240		09/22/25		1,956,774
			Series - 2019 2A (Class C)
	357,326	i	Bayview Financial Mortgage Pass-Through Trust		5.500		12/28/35		354,556
			Series - 2005 D (Class AF4)
	1,500,000	i	Bayview Financial Mortgage Pass-Through Trust		1.120		02/28/41		1,486,658
			Series - 2006 A (Class M3)
	90,284	i	Bear Stearns Asset Backed Securities Trust		0.818		04/25/36		89,657
			Series - 2006 SD1 (Class M1)
	4,900,000	†,g	Bojangles Issuer LLC		3.832		10/20/50		4,900,000
			Series - 2020 1A (Class A2)
	3,012,962	g	BRE Grand Islander Timeshare Issuer LLC		3.280		09/26/33		3,090,012
			Series - 2019 A (Class A)
	4,723,878	g	Capital Automotive REIT		3.660		10/15/44		4,738,030
			Series - 2014 1A (Class A)
	4,693,041	g	Capital Automotive REIT		3.870		04/15/47		4,701,356
			Series - 2017 1A (Class A1)
	5,100,000	g	Capital Automotive REIT		4.520		02/15/50		5,273,280
			Series - 2020 1A (Class B2)
	2,400,000	g,i	Cayuga Park CLO, Ltd.		0.000		07/17/31		2,402,040
			Series - 2020 1A (Class B1)
	1,340,985	i	C-BASS Trust		0.228		07/25/36		1,280,084
			Series - 2006 CB6 (Class A1)
	6,451,318	†,g,i	CBRE Realty Finance		0.576		04/07/52		0
			Series - 2007 1A (Class A2)
	261,905	†,g	CCR, Inc		4.750		07/10/22		265,833
			Series - 2012 CA (Class C)
	21,068		Centex Home Equity		5.540		01/25/32		21,721
			Series - 2002 A (Class AF6)
	7,000,000	g	CF Hippolyta LLC		2.280		07/15/60		7,121,012
			Series - 2020 1 (Class B1)

264

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	3,120,000	g	CF Hippolyta LLC		2.600	%	07/15/60	$	3,166,556
			Series - 2020 1 (Class B2)
	3,000,000	g,i	CIFC Funding Ltd		2.482		08/24/32		3,001,670
			Series - 2020 2A (Class B)
	460,000	i	Citigroup Mortgage Loan Trust		0.898		01/25/36		456,155
			Series - 2006 WFH1 (Class M4)
	1,711,861	g	Corevest American Finance Trust		1.832		03/15/50		1,709,583
			Series - 2020 1 (Class A1)
	24,177		Countrywide Asset-Backed Certificates (Step Bond)		5.216		10/25/27		24,988
			Series - 2002 S4 (Class A5)
	950,000	g	CSMC Trust		3.196		07/10/34		971,339
			Series - 2017 MOON (Class A)
	4,875,000	g	DB Master Finance LLC		3.629		11/20/47		5,020,421
			Series - 2017 1A (Class A2I)
	10,172,250	g	DB Master Finance LLC		3.787		05/20/49		10,484,436
			Series - 2019 1A (Class A2I)
	4,440,150	g	DB Master Finance LLC		4.021		05/20/49		4,710,333
			Series - 2019 1A (Class A2II)
	3,217,500	g	DB Master Finance LLC		4.352		05/20/49		3,501,123
			Series - 2019 1A (Class A23)
	2,979,129	g	Diamond Resorts Owner Trust		3.700		01/21/31		3,090,887
			Series - 2018 1 (Class A)
	794,434	g	Diamond Resorts Owner Trust		5.900		01/21/31		787,383
			Series - 2018 1 (Class D)
	2,935,345	g	Diamond Resorts Owner Trust		2.890		02/20/32		3,025,575
			Series - 2019 1A (Class A)
	4,723,200	g	Domino’s Pizza Master Issuer LLC		4.474		10/25/45		5,012,449
			Series - 2015 1A (Class A2II)
	1,872,063	g	Domino’s Pizza Master Issuer LLC		3.082		07/25/47		1,875,882
			Series - 2017 1A (Class A2II)
	4,862,500	g	Domino’s Pizza Master Issuer LLC		4.118		07/25/47		5,244,692
			Series - 2017 1A (Class A23)
	1,568,000	g	Domino’s Pizza Master Issuer LLC		4.116		07/25/48		1,658,913
			Series - 2018 1A (Class A2I)
	2,955,000	g	Driven Brands Funding LLC		4.641		04/20/49		3,125,592
			Series - 2019 1A (Class A2)
	3,000,000	g	Driven Brands Funding LLC		3.786		07/20/50		3,098,250
			Series - 2020 1A (Class A2)
	1,829,356	g,i	Ellington Loan Acquisition Trust		1.248		05/25/37		1,824,830
			Series - 2007 2 (Class A2C)
	4,100,000	g,i	Galaxy XIX CLO Ltd		0.000		07/24/30		4,077,942
			Series - 2015 19A (Class A1R)
	1,333,333	†,i	Garanti Diversified Payment Rights Finance Co		3.440		10/09/21		1,315,000
			Series - 2016 A (Class A)
	118,536	g	HERO Funding Trust		4.500		09/21/42		118,991
			Series - 2016 1R (Class A1)
	501,978	g	HERO Funding Trust		3.280		09/20/48		519,278
			Series - 2017 2A (Class A1)
	1,004,367	g	HERO Funding Trust		4.070		09/20/48		1,060,736
			Series - 2017 2A (Class A2)
	3,904,793	g	Hertz Vehicle Financing LLC		4.030		07/25/24		3,929,898
			Series - 2018 3A (Class A)

265

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	995,102	g	Hilton Grand Vacations Trust		2.660	%	12/26/28	$	1,015,809
			Series - 2017 AA (Class A)
	1,658,503	g	Hilton Grand Vacations Trust		2.960		12/26/28		1,667,964
			Series - 2017 AA (Class B)
	1,426,058	g	Hilton Grand Vacations Trust		4.000		02/25/32		1,456,347
			Series - 2018 AA (Class C)
	3,607,164	g	Hilton Grand Vacations Trust		2.840		07/25/33		3,617,408
			Series - 2019 AA (Class C)
	57,205	i	Home Equity Asset Trust		3.986		06/25/33		57,137
			Series - 2003 1 (Class M1)
	2,357,281	g	Horizon Aircraft Finance II Ltd		3.721		07/15/39		2,200,565
			Series - 2019 1 (Class A)
	464,147	g	Horizon Aircraft Finance II Ltd		6.900		07/15/39		176,867
			Series - 2019 1 (Class C)
	8,465,995	g	Horizon Aircraft Finance III Ltd		3.425		11/15/39		7,760,547
			Series - 2019 2 (Class A)
	1,347,039	g,i	Invitation Homes Trust		1.052		06/17/37		1,344,508
			Series - 2018 SFR2 (Class A)
	200,000	g,i	Invitation Homes Trust		1.602		06/17/37		199,626
			Series - 2018 SFR2 (Class D)
	928,960	g,i	Invitation Homes Trust		1.251		01/17/38		928,998
			Series - 2018 SFR4 (Class A)
	773,786	i	JP Morgan Mortgage Acquisition Trust		0.468		03/25/37		759,025
			Series - 2007 CH3 (Class A1B)
	9,690,022	i	JP Morgan Mortgage Acquisition Trust		0.308		06/25/37		9,469,613
			Series - 2007 CH5 (Class A1)
	8,822,708	g,i	KKR Industrial Portfolio Trust		1.189		03/15/37		8,829,290
			Series - 2020 AIP (Class A)
	2,323,313	g,i	KKR Industrial Portfolio Trust		1.785		03/15/37		2,308,865
			Series - 2020 AIP (Class C)
	1,966,941	g	Lunar Aircraft Ltd		4.335		02/15/45		1,284,274
			Series - 2020 1A (Class B)
	771,582	g	Lunar Aircraft Ltd		6.413		02/15/45		314,959
			Series - 2020 1A (Class C)
	428,546		MASTR Asset Backed Securities Trust (Step Bond)		5.648		11/25/35		429,904
			Series - 2005 AB1 (Class A4)
	917,208		Mid-State Capital Trust		5.745		01/15/40		988,257
			Series - 2005 1 (Class A)
	1,900,667	g	Mosaic Solar Loans LLC		3.820		06/22/43		2,002,537
			Series - 2017 2A (Class A)
	800,000	g,i	MSCG Trust		3.577		06/07/35		661,073
			Series - 2015 ALDR (Class C)
	4,310,000	g,i	MSCG Trust		3.577		06/07/35		3,272,639
			Series - 2015 ALDR (Class D)
	616,946	g	MVW Owner Trust		2.520		12/20/32		619,754
			Series - 2015 1A (Class A)
	866,404	g	MVW Owner Trust		2.640		12/20/33		862,565
			Series - 2016 1A (Class B)
	2,013,746	g	MVW Owner Trust		3.900		01/21/36		2,069,145
			Series - 2018 1A (Class C)
	2,173,590	g	MVW Owner Trust		3.330		11/20/36		2,197,323
			Series - 2019 1A (Class C)

266

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	1,180,000	g,i	Myers Park CLO Ltd		1.872	%	10/20/30	$	1,162,125
			Series - 2018 1A (Class B1)
	415,867		Oakwood Mortgage Investors, Inc		5.410		11/15/32		425,500
			Series - 2002 C (Class A1)
	2,500,000	g,i	Octagon Investment Partners 46 Ltd		0.000		07/15/33		2,490,779
			Series - 2020 2A (Class B)
	9,875,000	g	PFS Financing Corp		0.930		08/15/24		9,880,756
			Series - 2020 F (Class A)
	3,135,176	g	Pioneer Aircraft Finance Ltd		3.967		06/15/44		2,901,035
			Series - 2019 1 (Class A)
	722,261	g	Pretium Mortgage Credit Partners I LLC (Step Bond)		3.844		12/27/58		723,689
			Series - 2019 NPL2 (Class A1)
	1,796,656	g	Progress Residential Trust		2.897		12/17/34		1,802,490
			Series - 2017 SFR2 (Class A)
	1,617,461	g	PRPM LLC (Step Bond)		3.967		04/25/24		1,630,954
			Series - 2019 2A (Class A1)
	740,000	i	RASC Trust		3.080		08/25/35		737,483
			Series - 2005 KS8 (Class M4)
	2,600,000		Santander Drive Auto Receivables Trust		2.220		09/15/26		2,654,472
			Series - 2020 2 (Class D)
	7,940,000	g	SERVPRO Master Issuer LLC		3.882		10/25/49		8,365,981
			Series - 2019 1A (Class A2)
	4,950,000	g	Sesac Finance LLC		5.216		07/25/49		5,255,613
			Series - 2019 1 (Class A2)
	4,724,068	g	Settlement Fee Finance LLC		3.840		11/01/49		4,672,387
			Series - 2019 1A (Class A)
	797,693	g	Sierra Timeshare Receivables Funding LLC		2.580		09/20/32		798,489
			Series - 2015 3A (Class A)
	1,116,365	g	Sierra Timeshare Receivables Funding LLC		3.080		09/20/32		1,115,795
			Series - 2015 3A (Class B)
	599,197	g	Sierra Timeshare Receivables Funding LLC		2.330		07/20/33		602,092
			Series - 2016 2A (Class A)
	1,198,395	g	Sierra Timeshare Receivables Funding LLC		2.780		07/20/33		1,201,163
			Series - 2016 2A (Class B)
	1,699,339	g	Sierra Timeshare Receivables Funding LLC		3.200		03/20/34		1,711,812
			Series - 2017 1A (Class B)
	1,327,782	g	Sierra Timeshare Receivables Funding LLC		3.650		06/20/35		1,369,475
			Series - 2018 2A (Class B)
	695,116	g	Sierra Timeshare Receivables Funding LLC		4.540		05/20/36		684,576
			Series - 2019 2A (Class D)
	412,487	g	SolarCity LMC		4.800		11/20/38		403,396
			Series - 2013 1 (Class A)
	582,173	g	SolarCity LMC		4.590		04/20/44		575,419
			Series - 2014 1 (Class A)
	1,058,257	g	SolarCity LMC		4.020		07/20/44		1,065,922
			Series - 2014 2 (Class A)
	7,689,879	g	Sonic Capital LLC		3.845		01/20/50		8,131,970
			Series - 2020 1A (Class A2I)
	2,400,000	g	Stack Infrastructure Issuer LLC		1.893		08/25/45		2,415,610
			Series - 2020 1A (Class A2)
	2,034,621	g	START Ireland		4.089		05/15/43		1,880,569
			Series - 2018 1 (Class A)
	3,299,808	g	START Ireland		5.095		03/15/44		1,786,153
			Series - 2019 1 (Class B)

267

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	1,553,199	g	START Ireland		6.413	%	03/15/44	$	656,716
			Series - 2019 1 (Class C)
	1,440,997	g,i	Starwood Waypoint Homes		1.102		01/17/35		1,439,342
			Series - 2017 1 (Class A)
	6,450	i	Structured Asset Investment Loan Trust		1.048		09/25/34		6,261
			Series - 2004 8 (Class M1)
	22,992	i	Structured Asset Investment Loan Trust		1.148		09/25/34		22,740
			Series - 2004 8 (Class A9)
	836,821	i	Structured Asset Securities Corp Mortgage Loan Trust		1.657		04/25/35		819,411
			Series - 2005 7XS (Class 2A1A)
	943,313	g	Taco Bell Funding LLC		4.377		05/25/46		947,123
			Series - 2016 1A (Class A2II)
	7,812,563	g	Taco Bell Funding LLC		4.970		05/25/46		8,414,286
			Series - 2016 1A (Class A23)
	12,854,048	g	Taco Bell Funding LLC		4.318		11/25/48		13,125,396
			Series - 2018 1A (Class A2I)
	3,930,000	g	Taco Bell Funding LLC		4.940		11/25/48		4,244,203
			Series - 2018 1A (Class A2II)
	5,411,466	g	TES LLC		4.330		10/20/47		5,519,500
			Series - 2017 1A (Class A)
	2,500,000	g	TES LLC		7.740		10/20/47		2,283,555
			Series - 2017 1A (Class B)
	500,000	g	Tesla Auto Lease Trust		2.330		02/20/24		507,433
			Series - 2020 A (Class D)
	1,156,999	g	Thunderbolt Aircraft Lease Ltd		4.500		05/17/32		270,125
			Series - 2017 A (Class C)
	5,973,319	g	Thunderbolt Aircraft Lease Ltd (Step Bond)		4.212		05/17/32		5,627,493
			Series - 2017 A (Class A)
	2,500,000	g	Tricon American Homes Trust		4.878		11/17/33		2,497,528
			Series - 2016 SFR1 (Class E)
	1,528,484	g	Tricon American Homes Trust		2.716		09/17/34		1,555,445
			Series - 2017 SFR1 (Class A)
	1,600,000	g	Tricon American Homes Trust		4.011		09/17/34		1,621,689
			Series - 2017 SFR1 (Class E)
	400,000	g	Tricon American Homes Trust		3.275		01/17/36		413,726
			Series - 2017 SFR2 (Class B)
	4,541,220		United Airlines Pass Through Trust		3.700		03/01/30		3,760,335
			Series - 2018 1 (Class )
	4,750,000		United Airlines Pass Through Trust		2.700		05/01/32		4,490,730
			Series - 2019 2 (Class )
	2,000,000		Verizon Owner Trust		1.940		04/22/24		2,046,946
			Series - 2019 C (Class A1A)
	1,328,729	g	VOLT LXXV LLC (Step Bond)		3.967		02/25/49		1,329,657
			Series - 2019 NPL2 (Class A1)
	600,000	g	VOLT LXXV LLC (Step Bond)		3.967		10/25/49		594,096
			Series - 2019 NPL7 (Class A1B)
	2,350,000	g	VOLT LXXXIV LLC (Step Bond)		3.967		12/27/49		2,320,424
			Series - 2019 NP10 (Class A1B)
	10,089,688	g	Wendys Funding LLC		3.573		03/15/48		10,428,701
			Series - 2018 1A (Class A2I)
	7,780,000	g	Wendys Funding LLC		3.884		03/15/48		8,189,539
			Series - 2018 1A (Class A2II)
			TOTAL ASSET BACKED						376,359,047

268

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
OTHER MORTGAGE BACKED - 10.8%
$	506,487	g,i	Agate Bay Mortgage Trust		3.500	%	11/25/44	$	524,505
			Series - 2014 3 (Class A13)
	826,414	g,i	Agate Bay Mortgage Trust		3.500		09/25/45		857,204
			Series - 2015 6 (Class A9)
	37,010		Alternative Loan Trust		5.250		11/25/33		38,096
			Series - 2003 J3 (Class 1A3)
	320,809	i	Alternative Loan Trust		0.648		06/25/34		317,913
			Series - 2004 8CB (Class M1)
	1,062,730	i	American Home Mortgage Investment Trust		1.815		10/25/34		1,071,038
			Series - 2004 3 (Class 4A)
	540,000	i	Banc of America Commercial Mortgage Trust		4.505		09/15/48		522,068
			Series - 2015 UBS7 (Class C)
	10,700,000		Banc of America Commercial Mortgage Trust		3.019		07/15/49		11,365,570
			Series - 2016 UB10 (Class ASB)
	2,165,000		BANK		3.625		05/15/50		2,462,399
			Series - 2017 BNK4 (Class A4)
	10,969	i	BANK		0.997		10/17/52		709
			Series - 2019 BN21 (Class XA)
	1,000,000		BANK		3.203		12/15/52		1,107,840
			Series - 2019 BN23 (Class AS)
	2,900,000	g	BANK		2.500		11/15/62		2,342,505
			Series - 2019 BN24 (Class D)
	8,625,000		BANK		2.929		11/15/62		9,607,688
			Series - 2019 BN24 (Class ASB)
	2,000,000	g	BANK		2.500		01/15/63		1,586,709
			Series - 2020 BN25 (Class D)
	5,000,000	g,i	BBCMS Mortgage Trust		4.409		08/05/38		3,423,070
			Series - 2018 CHRS (Class E)
	895,794	i	Bear Stearns Commercial Mortgage Securities Trust		5.117		02/11/41		889,529
			Series - 2005 PWR7 (Class B)
	2,800,000	g,i	Benchmark Mortgage Trust		3.229		09/15/48		3,065,337
			Series - 2020 IG3 (Class AS)
	5,000,000	g,i	Benchmark Mortgage Trust		3.654		09/15/48		5,251,161
			Series - 2020 IG3 (Class BXA)
	1,100,000		Benchmark Mortgage Trust		4.267		03/15/52		1,297,633
			Series - 2019 B9 (Class AS)
	1,100,000		Benchmark Mortgage Trust		3.419		08/15/52		1,230,216
			Series - 2019 B12 (Class AS)
	3,600,000	i	Benchmark Mortgage Trust		4.510		05/15/53		4,394,012
			Series - 2018 B7 (Class A4)
	9,000,000	g	Benchmark Mortgage Trust		4.139		07/15/53		9,010,523
			Series - 2020 B18 (Class AGNF)
	13,907,213	g,i	BX Commercial Mortgage Trust		1.072		10/15/36		13,903,037
			Series - 2019 XL (Class A)
	3,797,191	g,i	BX Commercial Mortgage Trust		1.402		10/15/36		3,786,519
			Series - 2019 XL (Class C)
	3,797,191	g,i	BX Commercial Mortgage Trust		1.952		10/15/36		3,773,775
			Series - 2019 XL (Class E)
	4,500,000		CD Mortgage Trust		2.622		08/10/49		4,754,287
			Series - 2016 CD1 (Class ASB)

269

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	1,000,000	i	CD Mortgage Trust		4.158	%	11/10/49	$	972,382
			Series - 2016 CD2 (Class C)
	1,400,000	i	CD Mortgage Trust		4.711		02/10/50		1,396,008
			Series - 2017 CD3 (Class C)
	224,438	g,i	CF Mortgage Trust		2.840		04/15/25		230,152
			Series - 2020 P1 (Class A1)
	10,000,000	g,i	CF Mortgage Trust		3.603		04/15/52		10,033,969
			Series - 2020 P1 (Class A2)
	4,250,000	g,i	CF Mortgage Trust		10.010		04/15/52		4,239,068
			Series - 2020 P1 (Class B)
	5,000,000	i	CFCRE Commercial Mortgage Trust		3.502		11/10/49		5,489,400
			Series - 2016 C6 (Class AM)
	199,494		Citicorp Mortgage Securities, Inc		5.500		07/25/35		203,193
			Series - 2005 4 (Class 1A7)
	1,500,000	g	Citigroup Commercial Mortgage Trust		4.350		05/10/36		1,557,079
			Series - 2019 PRM (Class D)
	1,900,000		Citigroup Commercial Mortgage Trust		4.023		03/10/47		2,066,178
			Series - 2014 GC19 (Class A4)
	2,600,000	i	Citigroup Commercial Mortgage Trust		3.758		04/10/48		2,742,357
			Series - 2015 GC29 (Class B)
	900,000	i	Citigroup Commercial Mortgage Trust		4.296		04/10/48		889,131
			Series - 2015 GC29 (Class C)
	1,000,000		Citigroup Commercial Mortgage Trust		4.233		04/10/49		1,064,670
			Series - 2016 GC37 (Class B)
	3,127,000	i	Citigroup Commercial Mortgage Trust		3.742		11/10/52		3,156,750
			Series - 2019 GC43 (Class C)
	1,020,000		Citigroup Commercial Mortgage Trust		3.018		08/10/56		1,122,392
			Series - 2019 GC41 (Class AS)
	20,000,000	g	COMM Mortgage Trust		2.841		08/15/45		20,467,084
			Series - 2012 CR2 (Class A3)
	1,900,000		COMM Mortgage Trust		3.101		03/10/46		1,970,305
			Series - 2013 CR6 (Class A4)
	1,000,000	i	COMM Mortgage Trust		4.210		08/10/46		1,084,490
			Series - 2013 CR10 (Class A4)
	3,000,000	g,i	COMM Mortgage Trust		5.463		08/10/46		2,451,855
			Series - 2013 LC13 (Class D)
	5,000,000		COMM Mortgage Trust		4.199		03/10/47		5,440,616
			Series - 2014 UBS2 (Class AM)
	3,092,577	i	COMM Mortgage Trust		5.127		03/10/47		3,039,837
			Series - 2014 UBS2 (Class C)
	1,120,000		COMM Mortgage Trust		4.174		05/10/47		1,218,075
			Series - 2014 CR17 (Class AM)
	5,600,000		COMM Mortgage Trust		3.828		07/15/47		6,130,393
			Series - 2014 CR18 (Class A5)
	2,452,500	i	COMM Mortgage Trust		4.456		07/15/47		2,572,930
			Series - 2014 CR18 (Class B)
	1,050,000		COMM Mortgage Trust		3.796		08/10/47		1,152,726
			Series - 2014 CR19 (Class A5)
	2,800,000	i	COMM Mortgage Trust		4.703		08/10/47		3,032,051
			Series - 2014 CR19 (Class B)
	1,500,000	g,i	COMM Mortgage Trust		4.868		08/10/47		1,324,323
			Series - 2014 CR19 (Class D)

270

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	1,700,000		COMM Mortgage Trust		3.917	%	10/10/47	$	1,864,357
			Series - 2014 LC17 (Class A5)
	3,000,000	i	COMM Mortgage Trust		4.188		10/10/47		3,293,452
			Series - 2014 LC17 (Class AM)
	2,500,000	g	COMM Mortgage Trust		3.000		03/10/48		1,613,328
			Series - 2015 CR22 (Class E)
	3,340,500	i	COMM Mortgage Trust		4.244		03/10/48		3,387,435
			Series - 2015 CR22 (Class C)
	2,600,000	g,i	COMM Mortgage Trust		4.244		03/10/48		2,275,890
			Series - 2015 CR22 (Class D)
	1,000,000		COMM Mortgage Trust		3.801		05/10/48		1,099,030
			Series - 2015 CR23 (Class AM)
	4,000,000	i	COMM Mortgage Trust		4.435		05/10/48		3,458,464
			Series - 2015 CR23 (Class D)
	2,500,000	i	COMM Mortgage Trust		3.463		08/10/48		2,090,293
			Series - 2015 CR24 (Class D)
	5,250,000	i	COMM Mortgage Trust		4.524		08/10/48		5,661,566
			Series - 2015 CR24 (Class B)
	2,500,000	i	COMM Mortgage Trust		4.524		08/10/48		2,502,098
			Series - 2015 CR24 (Class C)
	3,175,000	i	COMM Mortgage Trust		4.630		10/10/48		3,225,717
			Series - 2015 CR26 (Class C)
	4,000,000		COMM Mortgage Trust		2.972		10/10/49		4,286,881
			Series - 2016 COR1 (Class ASB)
	5,000,000		COMM Mortgage Trust		4.181		05/10/51		5,765,234
			Series - 2018 COR3 (Class ASB)
	3,694,704	†,i	Commercial Mortgage Load Trust		5.983		12/10/49		1,624,985
			Series - 2008 LS1 (Class AM)
	1,116,396	i	Connecticut Avenue Securities		2.748		05/25/24		977,166
			Series - 2014 C02 (Class 1M2)
	10,643,878	i	Connecticut Avenue Securities		3.148		07/25/24		9,300,710
			Series - 2014 C03 (Class 1M2)
	1,006,437	i	Connecticut Avenue Securities		5.148		11/25/24		1,028,668
			Series - 2014 C04 (Class 2M2)
	305,404	i	Connecticut Avenue Securities		5.698		04/25/28		313,465
			Series - 2015 C04 (Class 2M2)
	507,549	i	Connecticut Avenue Securities		5.848		04/25/28		525,387
			Series - 2015 C04 (Class 1M2)
	608,841	i	Connecticut Avenue Securities		6.898		08/25/28		631,806
			Series - 2016 C01 (Class 1M2)
	1,898,299	i	Connecticut Avenue Securities		7.098		08/25/28		2,032,376
			Series - 2016 C01 (Class 2M2)
	459,417	i	Connecticut Avenue Securities		6.148		09/25/28		486,175
			Series - 2016 C02 (Class 1M2)
	4,632,327	i	Connecticut Avenue Securities		6.048		10/25/28		4,893,677
			Series - 2016 C03 (Class 2M2)
	2,553,823	i	Connecticut Avenue Securities		4.598		01/25/29		2,634,612
			Series - 2016 C05 (Class 2M2)
	751,716	i	Connecticut Avenue Securities		4.398		04/25/29		768,710
			Series - 2016 C06 (Class 1M2)
	454,744	i	Connecticut Avenue Securities		2.348		01/25/30		457,024
			Series - 2017 C05 (Class 1M2A)
	290,399	i	Connecticut Avenue Securities		2.398		07/25/30		286,576
			Series - 2018 C01 (Class 1M2)

271

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	1,014,165	i	Connecticut Avenue Securities		0.998	%	10/25/30	$	1,008,290
			Series - 2018 C03 (Class 1EA2)
	1,499,490	i	Connecticut Avenue Securities		2.698		12/25/30		1,472,781
			Series - 2018 C04 (Class 2M2)
	109,717	g,i	Connecticut Avenue Securities		2.598		07/25/31		109,030
			Series - 2019 R01 (Class 2M2)
	1,620,000	g,i	Connecticut Avenue Securities		2.148		01/25/40		1,578,099
			Series - 2020 R02 (Class 2M2)
	461,016	i	Countrywide Alternative Loan Trust		0.386		07/20/35		443,572
			Series - 2005 24 (Class 4A1)
	456,512	i	Countrywide Home Loan Mortgage Pass Through Trust		3.177		11/20/34		458,499
			Series - 2004 HYB6 (Class A2)
	44,868		Countrywide Home Loan Mortgage Pass Through Trust		5.250		09/25/35		39,341
			Series - 2005 17 (Class 1A10)
	5,000,000	g,i	CPT Mortgage Trust		3.097		11/13/39		4,711,115
			Series - 2019 CPT (Class E)
	1,100,000	g,i	Credit Suisse Commercial Mortgage Trust		0.798		05/25/36		1,097,652
			Series - 2006 CF2 (Class M3)
	9,296,737	g,i	Credit Suisse Commercial Mortgage Trust		3.500		02/25/48		9,647,635
			Series - 2018 J1 (Class A11)
	1,265,738	i	Credit Suisse First Boston Mortgage Securities Corp		6.199		04/25/33		1,276,973
			Series - 2003 8 (Class DB1)
	5,065,000		DBJPM		3.539		05/10/49		5,540,425
			Series - 2016 C1 (Class AM)
	2,083,000	g,i	DBUBS Mortgage Trust		5.513		08/10/44		2,111,627
			Series - 2011 LC3A (Class B)
	2,000,000	g,i	Ellington Financial Mortgage Trust		3.587		06/25/59		1,998,075
			Series - 2019 1 (Class M1)
	930,353	i	Fieldstone Mortgage Investment Trust		0.883		12/25/35		924,404
			Series - 2005 2 (Class M2)
	8,065,845	g,i	FirstKey Mortgage Trust		3.500		11/25/44		8,319,974
			Series - 2014 1 (Class A8)
	1,552,046	g,i	Flagstar Mortgage Trust		3.500		03/25/47		1,570,292
			Series - 2017 1 (Class 1A5)
	28,224	g,i	Flagstar Mortgage Trust		3.500		10/25/47		28,318
			Series - 2017 2 (Class A5)
	938,647	g,i	Flagstar Mortgage Trust		4.102		10/25/47		978,108
			Series - 2017 2 (Class B3)
	488,941	g,i	Flagstar Mortgage Trust		4.000		09/25/48		500,950
			Series - 2018 5 (Class A11)
	2,864,000	i	GE Capital Commercial Mortgage Corp		5.941		11/10/45		630,017
			Series - 2005 C4 (Class B)
	14,346,000	i	GS Mortgage Securities Corp II		3.978		03/10/51		16,219,668
			Series - 2018 GS9 (Class AAB)
	1,258,000	g,i	GS Mortgage Securities Trust		3.668		07/10/52		1,283,802
			Series - 2019 GC40 (Class DBC)
	642,854	g,i	GS Mortgage-Backed Securities Corp Trust		4.000		08/25/49		657,631
			Series - 2019 PJ1 (Class A4)
	503,098	g,i	GS Mortgage-Backed Securities Corp Trust		4.000		11/25/49		517,566
			Series - 2019 PJ2 (Class A1)

272

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	1,314,061	g,i	GS Mortgage-Backed Securities Corp Trust		4.000	%	11/25/49	$	1,346,691
			Series - 2019 PJ2 (Class A4)
	294,799	g	GSMPS Mortgage Loan Trust		7.500		03/25/35		308,052
			Series - 2005 RP2 (Class 1A2)
	282,502	g	GSMPS Mortgage Loan Trust		7.500		09/25/35		294,280
			Series - 2005 RP3 (Class 1A2)
	417,520		GSR Mortgage Loan Trust		6.000		01/25/35		428,892
			Series - 2005 1F (Class 3A3)
	2,018,888	i	HarborView Mortgage Loan Trust		0.776		08/19/45		1,945,008
			Series - 2005 11 (Class 2A1A)
	3,000,000	g,i	Hudson Yards Mortgage Trust		3.558		07/10/39		3,084,564
			Series - 2019 30HY (Class D)
	2,000,000	g,i	Hudson Yards Mortgage Trust		3.041		12/10/41		1,978,348
			Series - 2019 55HY (Class D)
	3,500,000	g,i	Hudson Yards Mortgage Trust		3.041		12/10/41		3,070,142
			Series - 2019 55HY (Class F)
	108,381	i	Impac CMB Trust		0.808		03/25/35		105,796
			Series - 2004 11 (Class 2A1)
	65,017	i	JP Morgan Alternative Loan Trust		0.428		04/25/47		60,821
			Series - 2007 S1 (Class A1)
	1,700,000	g,i	JP Morgan Chase Commercial Mortgage Securities Corp		4.214		01/15/46		1,664,685
			Series - 2013 C13 (Class D)
	310,000	g,i	JP Morgan Chase Commercial Mortgage Securities Corp		5.525		07/15/46		312,300
			Series - 2011 C4 (Class C)
	1,719,000	i	JP Morgan Chase Commercial Mortgage Securities Corp		4.119		01/15/49		1,925,354
			Series - 2015 JP1 (Class AS)
	10,000,000		JP Morgan Chase Commercial Mortgage Securities Corp		2.713		08/15/49		10,510,071
			Series - 2016 JP2 (Class ASB)
	2,140,000		JP Morgan Chase Commercial Mortgage Securities Corp		2.822		08/15/49		2,319,769
			Series - 2016 JP2 (Class A4)
	2,365,000		JP Morgan Chase Commercial Mortgage Securities Corp		3.723		03/15/50		2,703,095
			Series - 2017 JP5 (Class A5)
	5,000,000		JP Morgan Chase Commercial Mortgage Securities Corp		3.379		09/15/50		5,318,670
			Series - 2017 JP7 (Class A3)
	515,841	i	JP Morgan Mortgage Trust		3.469		11/25/33		521,756
			Series - 2006 A2 (Class 5A3)
	1,628,724	g,i	JP Morgan Mortgage Trust		2.140		12/25/44		1,654,922
			Series - 2015 1 (Class B1)
	282,275	g,i	JP Morgan Mortgage Trust		3.500		05/25/45		290,630
			Series - 2015 3 (Class A19)
	1,076,154	g,i	JP Morgan Mortgage Trust		3.500		10/25/45		1,115,074
			Series - 2015 6 (Class A13)
	561,967	g,i	JP Morgan Mortgage Trust		3.500		05/25/46		576,152
			Series - 2016 1 (Class A13)
	4,444,666	g,i	JP Morgan Mortgage Trust		3.500		01/25/47		4,564,198
			Series - 2017 1 (Class A3)
	660,841	g,i	JP Morgan Mortgage Trust		3.500		05/25/47		669,579
			Series - 2017 2 (Class A5)

273

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	742,741	g,i	JP Morgan Mortgage Trust		3.500	%	05/25/47	$	760,609
			Series - 2017 2 (Class A13)
	522,231	g,i	JP Morgan Mortgage Trust		3.500		08/25/47		524,252
			Series - 2017 3 (Class 1A5)
	576,441	g,i	JP Morgan Mortgage Trust		3.500		09/25/48		599,617
			Series - 2018 3 (Class A13)
	186,101	g,i	JP Morgan Mortgage Trust		3.500		10/25/48		194,557
			Series - 2018 4 (Class A13)
	765,273	g,i	JP Morgan Mortgage Trust		3.500		10/25/48		800,103
			Series - 2018 5 (Class A13)
	425,143	g,i	JP Morgan Mortgage Trust		4.000		01/25/49		426,812
			Series - 2018 8 (Class A5)
	700,854	g,i	JP Morgan Mortgage Trust		4.000		01/25/49		718,465
			Series - 2018 8 (Class A13)
	808,276	g,i	JP Morgan Mortgage Trust		4.000		02/25/49		828,497
			Series - 2018 9 (Class A13)
	347,855	g,i	JP Morgan Mortgage Trust		4.000		05/25/49		358,208
			Series - 2019 1 (Class A3)
	1,591,983	g,i	JP Morgan Mortgage Trust		4.000		05/25/49		1,633,099
			Series - 2019 1 (Class A15)
	14,610	g,i	JP Morgan Mortgage Trust		4.000		08/25/49		14,603
			Series - 2019 2 (Class A4)
	847,615	g,i	JP Morgan Mortgage Trust		4.781		09/25/49		904,241
			Series - 2019 3 (Class B1)
	2,542,353	g,i	JP Morgan Mortgage Trust		1.098		10/25/49		2,539,303
			Series - 2019 INV1 (Class A11)
	2,540,926	g,i	JP Morgan Mortgage Trust		3.877		06/25/50		2,676,215
			Series - 2020 1 (Class B2)
	797,757		JPMBB Commercial Mortgage Securities Trust		3.657		09/15/47		840,135
			Series - 2014 C23 (Class ASB)
	5,000,000		JPMBB Commercial Mortgage Securities Trust		3.634		02/15/48		5,388,732
			Series - 2015 C27 (Class AS)
	1,000,000	i	JPMBB Commercial Mortgage Securities Trust		4.445		02/15/48		999,877
			Series - 2015 C27 (Class C)
	1,000,000	i	JPMBB Commercial Mortgage Securities Trust		4.773		08/15/48		1,099,512
			Series - 2015 C31 (Class B)
	4,300,000		JPMBB Commercial Mortgage Securities Trust		3.227		10/15/48		4,669,305
			Series - 2015 C28 (Class A4)
	5,000,000		JPMDB Commercial Mortgage Securities Trust		2.536		05/13/53		5,297,031
			Series - 2020 COR7 (Class AS)
	10,000,000	g	Liberty Street Trust		3.597		02/10/36		10,978,910
			Series - 2016 225L (Class A)
	384,347		Master Alternative Loan Trust		7.000		01/25/34		415,847
			Series - 2004 1 (Class 3A1)
	2,367,127	g	Morgan Stanley Bank of America Merrill Lynch Trust		4.384		12/15/46		2,423,515
			Series - 2014 C19 (Class LNC2)
	12,304,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.249		02/15/48		13,323,988
			Series - 2015 C20 (Class A4)
	1,185,000		Morgan Stanley Bank of America Merrill Lynch Trust		4.160		02/15/48		1,241,924
			Series - 2015 C20 (Class B)

274

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	850,782		Morgan Stanley Bank of America Merrill Lynch Trust		3.338	%	03/15/48	$	927,846
			Series - 2015 C21 (Class A4)
	2,500,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.306		04/15/48		2,713,874
			Series - 2015 C22 (Class A4)
	574,976	i	Morgan Stanley Capital I Trust		0.973		08/25/34		571,100
			Series - 2004 HE6 (Class M1)
	2,212,301	i	Morgan Stanley Capital I Trust		0.853		02/25/35		2,199,016
			Series - 2005 WMC2 (Class M3)
	1,000,000	g,i	Morgan Stanley Capital I Trust		5.675		09/15/47		1,002,897
			Series - 2011 C1 (Class D)
	2,000,000	i	Morgan Stanley Capital I Trust		3.779		05/15/48		2,219,494
			Series - 2015 MS1 (Class A4)
	10,000,000		Morgan Stanley Capital I Trust		2.606		08/15/49		10,549,609
			Series - 2016 UB11 (Class ASB)
	213,332	†,i	Morgan Stanley Capital I Trust		6.467		12/12/49		127,146
			Series - 2007 IQ16 (Class AJFX)
	300,000		Morgan Stanley Capital I Trust		3.587		12/15/50		339,863
			Series - 2017 HR2 (Class A4)
	2,000,000	g,i	Natixis Commercial Mortgage Securities Trust		0.936		07/15/33		1,965,354
			Series - 2018 850T (Class A)
	10,000,000	g,i	Natixis Commercial Mortgage Securities Trust		1.652		07/15/36		9,900,168
			Series - 2019 MILE (Class A)
	3,000,000	g,i	Natixis Commercial Mortgage Securities Trust		3.652		07/15/36		2,813,552
			Series - 2019 MILE (Class E)
	5,280,000	g,i	Natixis Commercial Mortgage Securities Trust		4.402		07/15/36		4,863,190
			Series - 2019 MILE (Class F)
	10,000,000	g	Natixis Commercial Mortgage Securities Trust		3.305		10/15/36		9,889,977
			Series - 2019 1776 (Class D)
	2,000,000	g	Natixis Commercial Mortgage Securities Trust		3.902		10/15/36		1,938,737
			Series - 2019 1776 (Class E)
	151,364	g,i	New Residential Mortgage Loan Trust		4.000		02/25/57		163,981
			Series - 2017 1A (Class A1)
	955,785	g,i	New Residential Mortgage Loan Trust		4.000		08/27/57		1,030,164
			Series - 2017 6A (Class A1)
	267,244	i	New York Mortgage Trust		0.628		02/25/36		260,730
			Series - 2005 3 (Class A1)
	833,018	g,i	OBX Trust		0.798		06/25/57		831,768
			Series - 2018 1 (Class A2)
	5,700,000	g	One Bryant Park Trust		2.516		09/15/54		6,061,129
			Series - 2019 OBP (Class A)
	528,965	g,i	Sequoia Mortgage Trust		3.500		05/25/45		547,222
			Series - 2015 2 (Class A1)
	669,081	g,i	Sequoia Mortgage Trust		3.500		06/25/46		694,255
			Series - 2016 1 (Class A19)
	3,008,510	g,i	Sequoia Mortgage Trust		3.500		11/25/46		3,069,922
			Series - 2016 3 (Class A10)
	2,166,594	g,i	Sequoia Mortgage Trust		3.500		02/25/47		2,250,492
			Series - 2017 2 (Class A19)
	2,358,603	g,i	Sequoia Mortgage Trust		3.500		02/25/47		2,378,212
			Series - 2017 1 (Class A4)
	5,286,307	g,i	Sequoia Mortgage Trust		3.500		04/25/47		5,356,047
			Series - 2017 3 (Class A4)

275

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	2,012,627	g,i	Sequoia Mortgage Trust		3.500	%	04/25/47	$	2,090,437
			Series - 2017 3 (Class A19)
	1,276,558	g,i	Sequoia Mortgage Trust		3.743		09/25/47		1,349,896
			Series - 2017 6 (Class B1)
	988,569	g,i	Sequoia Mortgage Trust		3.500		02/25/48		1,017,138
			Series - 2018 2 (Class A1)
	3,214,200	g,i	Sequoia Mortgage Trust		3.500		02/25/48		3,286,061
			Series - 2018 2 (Class A19)
	1,431,119	g,i	Sequoia Mortgage Trust		3.500		03/25/48		1,475,441
			Series - 2018 3 (Class A1)
	572,845	g,i	Sequoia Mortgage Trust		3.500		03/25/48		574,214
			Series - 2018 3 (Class A4)
	330,636	g,i	Sequoia Mortgage Trust		4.000		09/25/48		330,778
			Series - 2018 7 (Class A4)
	180,901	g,i	Sequoia Mortgage Trust		4.000		09/25/48		183,919
			Series - 2018 7 (Class A19)
	96,177	g,i	Sequoia Mortgage Trust		4.000		11/25/48		97,345
			Series - 2018 8 (Class A19)
	640,883	g,i	Sequoia Mortgage Trust		4.000		06/25/49		649,702
			Series - 2019 2 (Class A19)
	2,231,553	g,i	Sequoia Mortgage Trust		4.000		06/25/49		2,275,446
			Series - 2019 2 (Class A1)
	2,933,266	g,i	Sequoia Mortgage Trust		3.500		11/25/49		3,025,583
			Series - 2019 4 (Class A1)
	4,766,609	g,i	Sequoia Mortgage Trust		3.500		12/25/49		4,896,931
			Series - 2019 5 (Class A1)
	2,681,218	g,i	Sequoia Mortgage Trust		3.500		12/25/49		2,720,714
			Series - 2019 5 (Class A19)
	4,789,707	g,i	Sequoia Mortgage Trust		3.000		04/25/50		4,898,565
			Series - 2020 3 (Class A19)
	389,212	g,i	Shellpoint Co-Originator Trust		3.500		11/25/46		394,672
			Series - 2016 1 (Class 1A10)
	1,898,833	g,i	Shellpoint Co-Originator Trust		3.500		04/25/47		1,924,979
			Series - 2017 1 (Class A4)
	1,957,067	g,i	Shellpoint Co-Originator Trust		3.500		10/25/47		2,008,212
			Series - 2017 2 (Class A1)
	590,459	g,i	Shellpoint Co-Originator Trust		3.500		10/25/47		591,726
			Series - 2017 2 (Class A4)
	80,635	i	Structured Adjustable Rate Mortgage Loan Trust		0.488		08/25/35		80,483
			Series - 2005 16XS (Class A1)
	190,273	i	Structured Agency Credit Risk Debt Note (STACR)		4.298		01/25/25		190,753
			Series - 2015 DN1 (Class M3)
	2,253,009	i	STACR		4.798		10/25/28		2,340,461
			Series - 2016 DNA2 (Class M3)
	2,150,240	i	STACR		3.398		07/25/29		2,202,020
			Series - 2017 DNA1 (Class M2)
	55,033	i	STACR		1.348		10/25/29		55,033
			Series - 2017 DNA2 (Class M1)
	1,551,073	i	STACR		2.472		08/25/30		1,525,707
			Series - 2018 HQA1 (Class M2)

276

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	147,439	g,i	STACR		1.798	%	04/25/43	$	141,984
			Series - 2018 HRP1 (Class M2)
	2,273,397	g,i	STACR		3.989		09/25/47		2,259,672
			Series - 2017 SPI1 (Class M2)
	99,927	g,i	STACR		3.721		02/25/48		100,455
			Series - 2018 SPI1 (Class M1)
	3,387,828	g,i	STACR		4.473		11/25/48		3,368,190
			Series - 2018 SPI4 (Class M2)
	2,309,735	g,i	STACR		2.198		11/25/49		2,279,532
			Series - 2019 HQA4 (Class M2)
	600,000	g,i	STACR		1.848		12/25/49		586,943
			Series - 2020 DNA1 (Class M2)
	5,010,000	g,i	STACR		1.998		02/25/50		4,877,419
			Series - 2020 DNA2 (Class M2)
	4,072,000	g,i	STACR		3.248		03/25/50		4,010,776
			Series - 2020 HQA2 (Class M2)
	475,000	g	Tricon American Homes		2.049		07/17/38		483,677
			Series - 2020 SFR1 (Class B)
	3,000,000		UBS-Barclays Commercial Mortgage Trust		2.850		12/10/45		3,109,697
			Series - 2012 C4 (Class A5)
	755,000	g,i	UBSBB		4.234		03/10/46		716,950
			Series - 2013 C5 (Class C)
	549,680	g,i	Verus Securitization Trust		4.108		10/25/58		563,142
			Series - 2018 3 (Class A1)
	1,765,775	g	VSE VOI Mortgage LLC		4.020		02/20/36		1,763,982
			Series - 2018 A (Class C)
	1,258,402	i	Wachovia Bank Commercial Mortgage Trust		5.748		04/15/47		1,224,700
			Series - 2007 C31 (Class F)
	547,753	i	Wachovia Mortgage Loan Trust		3.223		10/20/35		519,707
			Series - 2005 B (Class 1A1)
	14,186	i	Washington Mutual Mortgage Pass-Through Certificates Trust		6.017		08/25/38		14,808
			Series - 2004 RA3 (Class 2A)
	3,175,000		Wells Fargo Commercial Mortgage Trust		3.540		05/15/48		3,499,231
			Series - 2015 C28 (Class A4)
	2,000,000	i	Wells Fargo Commercial Mortgage Trust		4.285		05/15/48		1,888,806
			Series - 2015 NXS1 (Class D)
	2,650,000		Wells Fargo Commercial Mortgage Trust		3.637		06/15/48		2,940,972
			Series - 2015 C29 (Class A4)
	4,000,000	i	Wells Fargo Commercial Mortgage Trust		3.767		07/15/58		4,446,474
			Series - 2015 NXS2 (Class A5)
	1,022,858	g,i	Wells Fargo Mortgage Backed Securities Trust		4.000		04/25/49		1,036,695
			Series - 2019 2 (Class A17)
	152,089	g	WFRBS Commercial Mortgage Trust		4.375		03/15/44		153,129
			Series - 2011 C3 (Class A4)
	2,000,000		WFRBS Commercial Mortgage Trust		3.337		06/15/46		2,110,603
			Series - 2013 C14 (Class A5)
	5,277,000		WFRBS Commercial Mortgage Trust		3.607		11/15/47		5,761,538
			Series - 2014 C24 (Class A5)
			TOTAL OTHER MORTGAGE BACKED						570,376,932
			TOTAL STRUCTURED ASSETS						946,735,979
			(Cost $942,732,004)
			TOTAL BONDS						4,999,354,268
			(Cost $4,826,753,275)

277

TIAA-CREF FUNDS – Core Plus Bond Fund

	SHARES		COMPANY						VALUE
COMMON STOCKS - 0.0%
ENERGY - 0.0%
	1,538	†	Cloud Peak Energy, Inc					$	16
	84,437	*	Tidewater, Inc						566,572
			TOTAL ENERGY						566,588
RETAILING - 0.0%
	1,108	†,i	FullBeauty Brands Holdings Corp						1,108
			TOTAL RETAILING						1,108
			TOTAL COMMON STOCKS						567,696
			(Cost $1,704,219)
PREFERRED STOCKS - 0.2%
BANKS - 0.1%
	200,000	‡	Wintrust Financial Corp						5,338,000
			TOTAL BANKS						5,338,000
DIVERSIFIED FINANCIALS - 0.1%
	108,701	‡	Morgan Stanley						2,951,232
	35,370	‡	Morgan Stanley						965,601
			TOTAL DIVERSIFIED FINANCIALS						3,916,833
			TOTAL PREFERRED STOCKS						9,254,833
			(Cost $8,844,409)
PRINCIPAL			ISSUER	RATE			MATURITY DATE
SHORT-TERM INVESTMENTS - 12.5%
GOVERNMENT AGENCY DEBT - 5.9%
$	25,000,000		Federal Agricultural Mortgage Corp (FAMC)		0.080	%	10/21/20		24,999,167
	5,000,000		Federal Farm Credit Bank (FFCB)		0.100		11/20/20		4,999,514
	17,595,000		Federal Home Loan Bank (FHLB)		0.075-0.095		10/09/20		17,594,765
	8,943,000		FHLB		0.085		10/19/20		8,942,732
	31,000,000		FHLB		0.095-0.100		10/20/20		30,999,018
	39,208,000		FHLB		0.090-0.095		10/28/20		39,206,236
	45,534,000		FHLB		0.090		10/30/20		45,531,799
	18,101,000		FHLB		0.090		11/13/20		18,099,487
	29,420,000		FHLB		0.090		11/23/20		29,416,968
	12,500,000		FHLB		0.115		02/24/21		12,494,930
	24,242,000		FHLB		0.110		03/17/21		24,230,754
	20,675,000		FHLB		0.105		12/10/20		20,671,382
	20,000,000		Federal National Mortgage Association (FNMA)		0.200		10/16/20		19,999,500
	10,000,000		FNMA		0.080		11/13/20		9,999,164
			TOTAL GOVERNMENT AGENCY DEBT						307,185,416

278

TIAA-CREF FUNDS – Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
REPURCHASE AGREEMENT - 1.1%
$	58,155,000	r	Fixed Income Clearing Corp (FICC)		0.070	%	10/01/20	$	58,155,000
			TOTAL REPURCHASE AGREEMENT						58,155,000
TREASURY DEBT - 5.5%
	15,000,000		United States Cash Management Bill		0.115		11/03/20		14,998,724
	27,995,000		United States Cash Management Bill		0.093		11/17/20		27,991,528
	33,000,000		United States Cash Management Bill		0.116		12/22/20		32,993,611
	37,055,000		United States Treasury Bill		0.090-0.130		10/15/20		37,053,811
	36,080,000		United States Treasury Bill		0.103-0.106		10/22/20		36,078,159
	37,774,000		United States Treasury Bill		0.082-0.083		11/05/20		37,770,603
	43,640,000		United States Treasury Bill		0.091		12/03/20		43,632,363
	12,120,000		United States Treasury Bill		0.095		12/24/20		12,116,889
	50,959,000		United States Treasury Bill		0.095-0.115		12/31/20		50,945,474
			TOTAL TREASURY DEBT						293,581,162
			TOTAL SHORT-TERM INVESTMENTS						658,921,578
			(Cost $658,910,854)
			TOTAL INVESTMENTS - 109.0%						5,772,990,793
			(Cost $5,604,348,486)
			OTHER ASSETS & LIABILITIES, NET - (9.0)%						(475,327,099	)
			NET ASSETS - 100.0%					$	5,297,663,694

	Abbreviation(s):
DOP	Dominican Republic Peso
EUR	Euro
LIBOR	London Interbank Offered Rate
M	Month
PEN	Peruvian Sol
REIT	Real Estate Investment Trust
W	Week

*	Non-income producing
†	Security is categorized as Level 3 in the fair value hierarchy.
‡	Perpetual security
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933, as amended. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 9/30/2020, the aggregate value of these securities is $1,322,608,536 or 25.0% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.
i	Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.
k	Principal amount for interest accrual purposes is periodically adjusted based on changes in the Consumer Price Index.
o	Payment in Kind Bond
q	In default
r	Agreement with Fixed Income Clearing Corporation, 0.070% dated 9/30/20 to be repurchased at $58,155,000 on 10/01/20, collateralized by U.S. Treasury Notes valued at $59,318,106.

279

TIAA-CREF FUNDS – Core Plus Bond Fund

Futures contracts outstanding as of September 30, 2020 were as follows:

Description	Number of long (short) contracts			Expiration date	Notional amount			Value			Unrealized appreciation (depreciation)
US 5 Year Note (CBT)		(929	)	12/31/20	$	(116,918,899	)	$	(117,083,031	)	$	(164,132	)

Forward foreign currency contracts outstanding as of September 30, 2020 were as follows:

Currency to be purchased	Receive	Currency to be sold	Deliver	Counterparty	Settlement date		Unrealized appreciation (depreciation)
$	1,564,538	EUR	1,314,970	CITIBANK N.A.	11/18/20	$	21,240

	Abbreviation(s):
EUR	Euro

280

TIAA-CREF FUNDS – 5-15 Year Laddered Tax-Exempt Bond Fund

TIAA-CREF FUNDS

5-15 YEAR LADDERED TAX-EXEMPT BOND FUND

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2020

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
LONG-TERM MUNICIPAL BONDS - 97.0%
ALABAMA - 2.3%
$	500,000		City of Birmingham AL		5.000	%	12/01/29	$	643,450
	500,000		City of Birmingham AL		5.000		12/01/30		638,610
	630,000		County of Mobile AL		5.000		02/01/34		808,038
	2,900,000		Lower Alabama Gas District		4.000		12/01/50		3,321,254
	1,000,000		University of South Alabama		5.000		11/01/31		1,199,110
			TOTAL ALABAMA						6,610,462
ALASKA - 1.3%
	500,000		Alaska Municipal Bond Bank Authority		5.000		12/01/31		592,710
	2,570,000		Borough of Matanuska-Susitna AK		5.000		09/01/25		3,056,090
			TOTAL ALASKA						3,648,800
ARIZONA - 1.0%
	2,000,000		Chandler Industrial Development Authority		5.000		06/01/49		2,308,180
	200,000		City of Phoenix Civic Improvement Corp		5.000		07/01/25		237,310
	190,000		Pinal County Electric District No 3		5.000		07/01/33		232,855
			TOTAL ARIZONA						2,778,345
ARKANSAS - 0.9%
	1,000,000	g	Arkansas Development Finance Authority		4.500		09/01/49		1,010,000
	1,000,000		City of Fort Smith AR Water & Sewer Revenue		5.000		10/01/32		1,259,180
			TOTAL ARKANSAS						2,269,180
CALIFORNIA - 3.1%
	365,000		California Educational Facilities Authority		5.000		12/01/29		432,948
	1,510,000		California Health Facilities Financing Authority		5.000		09/01/33		1,788,187
	185,000		California Municipal Finance Authority		4.000		07/15/29		182,564
	715,000	g	California School Finance Authority		5.000		08/01/25		844,887
	225,000	g	California Statewide Communities Development Authority		5.000		12/01/28		264,368
	2,000,000		City of Los Angeles Department of Airports		5.000		05/15/27		2,416,100
	450,000		Palmdale Community Redevelopment Agency		5.000		09/01/25		543,272
	415,000		Palmdale Community Redevelopment Agency		5.000		09/01/31		497,398
	750,000		San Diego Public Facilities Financing Authority		5.000		10/15/31		872,070
	500,000		Santee CDC Successor Agency		5.000		08/01/27		620,490
			TOTAL CALIFORNIA						8,462,284
COLORADO - 1.4%
	1,500,000		City & County of Denver CO Airport System Revenue		5.000		11/15/30		1,834,035

281

TIAA-CREF FUNDS – 5-15 Year Laddered Tax-Exempt Bond Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE
$	250,000	Colorado Health Facilities Authority		5.000	%	12/01/41	$	289,165
	310,000	Denver Health & Hospital Authority		5.000		12/01/28		377,670
	1,000,000	Interlocken Metropolitan District		5.000		12/01/27		1,275,460
		TOTAL COLORADO						3,776,330
CONNECTICUT - 4.4%
	1,180,000	Capital Region Development Authority		5.000		06/15/29		1,457,371
	765,000	Capital Region Development Authority		5.000		06/15/33		912,255
	1,900,000	City of Bridgeport CT		5.000		06/01/34		2,277,188
	495,000	Connecticut State Health & Educational Facilities Authority		5.000		07/01/27		619,928
	630,000	Connecticut State Health & Educational Facilities Authority		5.000		07/01/29		701,700
	330,000	Connecticut State Health & Educational Facilities Authority		5.000		07/01/30		365,016
	350,000	Connecticut State Health & Educational Facilities Authority		5.000		07/01/32		421,123
	350,000	Connecticut State Health & Educational Facilities Authority		5.000		07/01/33		419,244
	300,000	Connecticut State Higher Education Supplement Loan Authority		5.000		11/15/25		349,071
	250,000	Connecticut State Higher Education Supplement Loan Authority		5.000		11/15/26		295,472
	500,000	State of Connecticut Special Tax Revenue		5.000		05/01/30		665,940
	1,000,000	State of Connecticut Special Tax Revenue		5.000		05/01/34		1,289,200
	2,000,000	University of Connecticut		5.000		03/15/28		2,401,980
		TOTAL CONNECTICUT						12,175,488
DISTRICT OF COLUMBIA - 0.4%
	955,000	District of Columbia		5.000		04/01/27		1,186,463
		TOTAL DISTRICT OF COLUMBIA						1,186,463
FLORIDA - 5.5%
	1,000,000	Alachua County Health Facilities Authority		5.000		12/01/31		1,283,480
	250,000	County of Broward FL Airport System Revenue		5.000		10/01/27		311,237
	250,000	County of Broward FL Airport System Revenue		5.000		10/01/28		308,220
	3,000,000	Escambia County Health Facilities Authority		5.000		08/15/32		3,713,160
	1,100,000	Greater Orlando Aviation Authority		5.000		10/01/26		1,340,471
	175,000	Hillsborough County Aviation Authority		5.000		10/01/31		216,283
	185,000	Hillsborough County Aviation Authority		5.000		10/01/32		227,169
	190,000	Hillsborough County Aviation Authority		5.000		10/01/33		232,203
	400,000	Hillsborough County Port District		5.000		06/01/29		486,652
	1,000,000	Hillsborough County Port District		5.000		06/01/33		1,194,160
	210,000	Miami-Dade County Educational Facilities Authority		5.000		04/01/28		261,118
	1,375,000	Miami-Dade County Expressway Authority		5.000		07/01/31		1,651,870
	2,180,000	Port St. Lucie Community Redevelopment Agency		5.000		01/01/26		2,662,020
	500,000	School District of Broward County		5.000		07/01/31		601,905
	75,000	Volusia County Educational Facility Authority		5.000		10/15/25		90,177

282

TIAA-CREF FUNDS – 5-15 Year Laddered Tax-Exempt Bond Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE
$	540,000	Volusia County Educational Facility Authority		5.000	%	10/15/32	$	659,081
		TOTAL FLORIDA						15,239,206
GEORGIA - 3.4%
	1,250,000	Brookhaven Development Authority		5.000		07/01/27		1,594,400
	1,110,000	Burke County Development Authority		2.250		10/01/32		1,150,371
	1,000,000	Dahlonega Downtown Development Authority		4.000		07/01/37		1,127,710
	1,250,000	Dahlonega Downtown Development Authority		4.000		07/01/38		1,405,987
	1,000,000	Dahlonega Downtown Development Authority		5.000		07/01/39		1,191,680
	250,000	Georgia Municipal Association, Inc		5.000		12/01/30		317,923
	1,000,000	Glynn-Brunswick Memorial Hospital Authority		5.000		08/01/47		1,138,920
	1,020,000	Main Street Natural Gas, Inc		4.000		08/01/49		1,157,129
	500,000	Municipal Electric Authority of Georgia		5.000		01/01/25		588,820
		TOTAL GEORGIA						9,672,940
GUAM - 0.2%
	200,000	Port Authority of Guam		5.000		07/01/29		236,074
	200,000	Port Authority of Guam		5.000		07/01/30		234,732
		TOTAL GUAM						470,806
HAWAII - 1.4%
	1,275,000	City & County of Honolulu HI		5.000		09/01/27		1,652,910
	1,000,000	State of Hawaii Airports System Revenue		5.000		07/01/29		1,239,300
	1,000,000	State of Hawaii Airports System Revenue		5.000		07/01/41		1,142,050
		TOTAL HAWAII						4,034,260
ILLINOIS - 13.2%
	1,500,000	Chicago Board of Education		5.000		12/01/26		1,685,880
	1,335,000	Chicago Board of Education		4.000		12/01/27		1,420,573
	500,000	Chicago Housing Authority		5.000		01/01/33		607,095
	2,000,000	Chicago Midway International Airport		5.000		01/01/26		2,370,700
	400,000	Chicago O’Hare International Airport		5.000		01/01/22		419,624
	750,000	Chicago O’Hare International Airport		5.000		01/01/25		876,375
	300,000	Chicago O’Hare International Airport		5.000		01/01/28		362,268
	1,000,000	Chicago O’Hare International Airport		5.000		01/01/32		1,146,890
	1,000,000	Chicago Transit Authority		5.000		06/01/25		1,185,670
	3,250,000	City of Chicago IL		5.000		01/01/28		3,512,047
	500,000	City of Chicago IL Wastewater Transmission Revenue		5.000		01/01/22		527,160
	1,500,000	City of Chicago IL Wastewater Transmission Revenue		5.000		01/01/22		1,581,480
	1,000,000	City of Chicago IL Wastewater Transmission Revenue		5.000		01/01/25		1,166,680
	1,000,000	City of Chicago IL Wastewater Transmission Revenue		5.000		01/01/26		1,199,960
	1,250,000	City of Chicago IL, GO		5.000		01/01/29		1,351,700
	1,500,000	City of Chicago IL, GO		5.500		01/01/35		1,574,970
	650,000	City of Chicago IL, GO		5.500		01/01/37		681,031
	500,000	City of Chicago IL, GO		5.500		01/01/42		520,770
	1,750,000	County of Cook IL		5.000		11/15/31		2,075,395
	400,000	Illinois Finance Authority		5.000		05/01/21		407,988
	500,000	Illinois Finance Authority		5.000		11/01/21		518,515

283

TIAA-CREF FUNDS – 5-15 Year Laddered Tax-Exempt Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	1,000,000		Illinois State Toll Highway Authority		5.000	%	01/01/25	$	1,179,480
	2,000,000		Metropolitan Water Reclamation District of Greater Chicago		5.000		12/01/30		2,453,260
	1,500,000		Sales Tax Securitization Corp		5.000		01/01/30		1,799,340
	2,000,000		State of Illinois		5.000		06/01/28		2,157,100
	145,000		State of Illinois, GO		6.250		12/15/20		146,137
	250,000		Village of Broadview IL		5.000		12/01/28		318,395
	200,000		Village of Broadview IL		5.000		12/01/29		253,466
	545,000		Village of Broadview IL		5.000		12/01/30		687,496
	745,000		Village of Broadview IL		5.000		12/01/33		927,845
	2,000,000		Wheaton College		0.900		10/01/35		2,000,000
			TOTAL ILLINOIS						37,115,290
INDIANA - 0.6%
	1,365,000		City of Whiting IN		5.000		12/01/44		1,668,849
			TOTAL INDIANA						1,668,849
IOWA - 0.2%
	475,000		Iowa Higher Education Loan Authority		5.000		10/01/27		598,951
			TOTAL IOWA						598,951
KENTUCKY - 1.9%
	2,000,000		Kentucky Turnpike Authority		5.000		07/01/26		2,439,840
	1,250,000		Paducah Electric Plant Board		5.000		10/01/34		1,482,775
	1,250,000		Paducah Electric Plant Board		5.000		10/01/35		1,479,750
			TOTAL KENTUCKY						5,402,365
LOUISIANA - 1.6%
	750,000		Louisiana Local Government Environmental Facilities & Community Development Auth		5.000		10/01/27		938,835
	500,000		New Orleans Aviation Board		5.000		10/01/33		613,135
	1,250,000		St. Tammany Parish Hospital Service District No		5.000		07/01/33		1,534,438
	1,000,000		State of Louisiana		5.000		08/01/26		1,253,820
			TOTAL LOUISIANA						4,340,228
MAINE - 0.2%
	750,000	†,g,q	Finance Authority of Maine		5.375		12/15/33		412,500
			TOTAL MAINE						412,500
MARYLAND - 0.8%
	2,000,000		County of Baltimore MD		4.000		01/01/29		2,307,320
			TOTAL MARYLAND						2,307,320

284

TIAA-CREF FUNDS – 5-15 Year Laddered Tax-Exempt Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
MASSACHUSETTS - 0.2%
$	500,000		Massachusetts Development Finance Agency		5.000	%	12/01/29	$	607,650
			TOTAL MASSACHUSETTS						607,650
MICHIGAN - 4.1%
	2,000,000		Michigan Finance Authority		5.000		04/01/25		2,369,240
	2,000,000		Michigan Finance Authority		5.000		11/15/28		2,450,400
	1,650,000		Michigan Finance Authority		5.000		07/01/44		1,787,462
	1,750,000		State of Michigan Trunk Line Revenue		5.000		11/15/30		2,408,070
	1,250,000		Wayne County Airport Authority		5.000		12/01/29		1,547,288
	385,000		Wayne County Airport Authority		5.000		12/01/29		485,878
			TOTAL MICHIGAN						11,048,338
MINNESOTA - 0.9%
	1,055,000		City of Minneapolis MN		5.000		11/15/33		1,310,088
	70,000		Duluth Economic Development Authority		5.000		02/15/33		83,848
	500,000		Northern Municipal Power Agency		5.000		01/01/26		612,580
	500,000		Northern Municipal Power Agency		5.000		01/01/28		607,100
			TOTAL MINNESOTA						2,613,616
MISSISSIPPI - 1.8%
	1,250,000		Mississippi Development Bank		5.000		03/01/25		1,456,225
	1,045,000		Mississippi Development Bank		5.000		03/01/26		1,246,319
	1,000,000		Mississippi Development Bank		5.000		06/01/27		1,275,830
	1,000,000		Mississippi Development Bank		5.000		03/01/35		1,139,780
			TOTAL MISSISSIPPI						5,118,154
MISSOURI - 2.4%
	1,225,000		City of Kansas City MO		5.000		10/01/26		1,466,570
	1,000,000		City of St. Louis MO Parking Revenue		5.000		12/15/25		1,212,180
	1,000,000		City of St. Louis MO Parking Revenue		5.000		12/15/26		1,214,670
	900,000		Health & Educational Facilities Authority of the State of Missouri		5.000		02/15/28		1,138,158
	1,745,000		St. Louis Municipal Finance Corp		5.000		02/15/26		2,054,214
			TOTAL MISSOURI						7,085,792
NATIONAL - 0.4%
	1,000,000	g	JPMorgan Chase Putters		1.100		06/01/21		1,000,000
			TOTAL NATIONAL						1,000,000
NEBRASKA - 0.1%
	250,000		Omaha Airport Authority		5.000		12/15/22		272,670
			TOTAL NEBRASKA						272,670

285

TIAA-CREF FUNDS – 5-15 Year Laddered Tax-Exempt Bond Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE
NEVADA - 0.4%
$	1,000,000	Las Vegas Redevelopment Agency		5.000	%	06/15/26	$	1,185,100
		TOTAL NEVADA						1,185,100
NEW JERSEY - 5.3%
	1,000,000	New Jersey Economic Development Authority		5.000		06/15/27		1,183,360
	3,500,000	New Jersey Economic Development Authority		5.000		11/01/35		4,045,265
	1,000,000	New Jersey Educational Facilities Authority		5.000		07/01/27		1,206,860
	1,000,000	New Jersey Transportation Trust Fund Authority		5.000		06/15/29		1,158,130
	765,000	New Jersey Transportation Trust Fund Authority		5.000		12/15/33		883,300
	5,000,000	New Jersey Transportation Trust Fund Authority		5.000		06/15/34		5,766,850
	500,000	South Jersey Port Corp		5.000		01/01/48		537,900
		TOTAL NEW JERSEY						14,781,665
NEW YORK - 6.2%
	1,000,000	Brooklyn Arena Local Development Corp		5.000		07/15/26		1,136,750
	1,000,000	Metropolitan Transportation Authority		5.000		11/15/25		1,065,850
	1,250,000	Metropolitan Transportation Authority		5.000		11/15/50		1,325,363
	1,415,000	Metropolitan Transportation Authority		5.250		11/15/55		1,522,667
	1,750,000	New York State Dormitory Authority		5.000		07/01/33		2,018,135
	1,000,000	New York State Urban Development Corp		5.000		03/15/35		1,292,960
	375,000	New York Transportation Development Corp		5.000		07/01/30		410,884
	1,080,000	New York Transportation Development Corp		4.000		10/01/30		1,103,242
	1,000,000	New York Transportation Development Corp		5.000		08/01/31		996,950
	715,000	New York Transportation Development Corp		5.000		01/01/36		757,957
	1,500,000	Port Authority of New York & New Jersey		5.000		07/15/31		1,934,955
	1,000,000	Port Authority of New York & New Jersey		4.000		11/01/34		1,138,260
	1,000,000	Port Authority of New York & New Jersey		5.000		11/01/35		1,243,050
	1,000,000	Westchester County Local Development Corp		5.000		11/01/25		1,134,470
		TOTAL NEW YORK						17,081,493
NORTH CAROLINA - 1.6%
	100,000	City of Charlotte NC Airport Revenue		5.000		07/01/25		118,963
	1,355,000	County of Duplin NC		5.000		04/01/27		1,637,626
	1,000,000	North Carolina Medical Care Commission		5.000		12/01/26		1,231,980
	255,000	North Carolina Medical Care Commission		3.000		07/01/36		268,900
	200,000	North Carolina Turnpike Authority		5.000		01/01/22		211,226
	1,000,000	The Charlotte-Mecklenburg Hospital Authority		5.000		01/15/26		1,211,410
		TOTAL NORTH CAROLINA						4,680,105
NORTH DAKOTA - 0.4%
	1,000,000	North Dakota Housing Finance Agency		2.400		01/01/26		1,058,500
		TOTAL NORTH DAKOTA						1,058,500
OHIO - 2.5%
	1,000,000	American Municipal Power, Inc		5.000		02/15/34		1,273,730
	1,000,000	City of Cleveland OH Airport System Revenue		5.000		01/01/27		1,214,220
	200,000	City of Cleveland OH Income Tax Revenue		5.000		10/01/27		255,748

286

TIAA-CREF FUNDS – 5-15 Year Laddered Tax-Exempt Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	250,000		City of Cleveland OH Income Tax Revenue		5.000	%	10/01/28	$	320,732
	240,000		City of Toledo OH		4.000		12/01/29		288,636
	250,000		City of Toledo OH		4.000		12/01/30		299,923
	200,000		City of Toledo OH		4.000		12/01/31		237,718
	1,500,000		County of Miami OH		5.000		08/01/32		1,871,805
	700,000		Miami University		5.000		09/01/28		909,874
	175,000		State of Ohio		5.000		01/15/35		220,371
			TOTAL OHIO						6,892,757
OKLAHOMA - 0.9%
	750,000		Oklahoma Development Finance Authority		5.000		08/15/28		917,505
	1,500,000		Oklahoma Development Finance Authority		5.250		08/15/48		1,742,235
			TOTAL OKLAHOMA						2,659,740
OREGON - 1.7%
	3,000,000	†,g,q	Oregon State Business Development Commission		6.500		04/01/31		1,945,470
	1,000,000	q	Oregon State Business Development Commission		11.500		04/01/31		712,390
	625,000	g	Oregon State Business Development Commission		0.000		04/01/37		541,056
	1,000,000		Tri-County Metropolitan Transportation District of Oregon		5.000		10/01/28		1,287,080
			TOTAL OREGON						4,485,996
PENNSYLVANIA - 4.8%
	1,100,000		Allegheny County Higher Education Building Authority		5.000		03/01/29		1,307,581
	480,000		Borough of Columbia PA		4.000		06/15/38		497,534
	1,000,000		City of Philadelphia PA		5.000		08/01/26		1,233,140
	740,000		Coatesville School District		5.000		08/01/25		886,764
	500,000		Lancaster County Career & Technology Center Authority		4.000		02/01/25		564,565
	500,000		Lancaster County Career & Technology Center Authority		4.000		02/01/26		576,495
	670,000		Lancaster County Career & Technology Center Authority		4.000		02/01/30		789,937
	2,000,000		Pennsylvania Economic Development Financing Authority		5.000		12/31/25		2,360,700
	415,000		Pittsburgh Water & Sewer Authority		5.000		09/01/27		534,437
	1,500,000		School District of the City of Erie		5.000		04/01/28		1,926,285
	1,155,000		State Public School Building Authority		5.000		05/01/25		1,363,200
	915,000		Township of Northampton PA		4.000		05/15/33		1,026,996
			TOTAL PENNSYLVANIA						13,067,634
RHODE ISLAND - 0.4%
	825,000		Rhode Island Commerce Corp		5.000		06/15/27		1,017,159
			TOTAL RHODE ISLAND						1,017,159
SOUTH CAROLINA - 0.3%
	265,000		City of Rock Hill SC Combined Utility System Revenue		5.000		01/01/27		328,931
	170,000		City of Rock Hill SC Combined Utility System Revenue		5.000		01/01/28		215,844

287

TIAA-CREF FUNDS – 5-15 Year Laddered Tax-Exempt Bond Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE
$	265,000	City of Rock Hill SC Combined Utility System Revenue		5.000	%	01/01/29	$	342,971
		TOTAL SOUTH CAROLINA						887,746
SOUTH DAKOTA - 0.2%
	465,000	South Dakota Health & Educational Facilities Authority		5.000		11/01/25		565,700
		TOTAL SOUTH DAKOTA						565,700
TENNESSEE - 1.3%
	2,305,000	Metropolitan Nashville Airport Authority		5.000		07/01/35		2,854,028
	755,000	Tennessee Energy Acquisition Corp		4.000		11/01/49		860,828
		TOTAL TENNESSEE						3,714,856
TEXAS - 12.4%
	350,000	Atascosa County Industrial Development Corp		5.000		12/15/28		441,059
	350,000	Atascosa County Industrial Development Corp		5.000		12/15/29		447,958
	400,000	Atascosa County Industrial Development Corp		5.000		12/15/30		517,700
	1,100,000	Central Texas Regional Mobility Authority		5.000		01/01/27		1,366,123
	1,210,000	Central Texas Regional Mobility Authority		5.000		01/01/29		1,510,491
	400,000	City of Austin TX Airport System Revenue		5.000		11/15/27		492,084
	900,000	City of Austin TX Airport System Revenue		5.000		11/15/39		1,011,015
	1,000,000	City of El Paso TX		4.000		08/15/35		1,217,990
	2,000,000	City of El Paso TX Airport Revenue		5.000		08/15/28		2,464,740
	1,970,000	City of Houston TX		5.000		03/01/32		2,436,673
	4,000,000	City of Houston TX Combined Utility System Revenue		5.000		11/15/29		5,426,800
	1,500,000	City of Lubbock TX		5.000		02/15/25		1,799,115
	500,000	County of Galveston TX		4.000		02/01/38		568,905
	550,000	Dallas County Utility & Reclamation District		5.000		02/15/26		672,215
	1,105,000	Love Field Airport Modernization Corp		5.250		11/01/40		1,107,354
	1,000,000	Lower Colorado River Authority		5.000		05/15/25		1,200,660
	600,000	North Texas Tollway Authority		5.000		01/01/25		710,454
	1,000,000	North Texas Tollway Authority		5.000		01/01/30		1,253,130
	420,000	Port Freeport TX		5.000		06/01/28		527,759
	825,000	Port Freeport TX		5.000		06/01/29		1,029,666
	865,000	Port Freeport TX		5.000		06/01/30		1,078,370
	935,000	Port Freeport TX		5.000		06/01/32		1,152,715
	1,545,000	Texas Municipal Gas Acquisition & Supply Corp III		5.000		12/15/32		1,649,983
	2,500,000	Texas Private Activity Bond Surface Transportation Corp		5.000		12/31/35		3,087,000
	1,000,000	University of North Texas		5.000		04/15/27		1,267,970
		TOTAL TEXAS						34,437,929
UTAH - 1.1%
	475,000	Salt Lake City Corp Airport Revenue		5.000		07/01/31		581,068
	1,000,000	Salt Lake City Corp Airport Revenue		5.000		07/01/32		1,215,170
	1,000,000	Salt Lake City Corp Airport Revenue		5.000		07/01/33		1,208,280
		TOTAL UTAH						3,004,518

288

TIAA-CREF FUNDS – 5-15 Year Laddered Tax-Exempt Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
VIRGIN ISLANDS - 1.8%
$	2,000,000	g	Virgin Islands Public Finance Authority		5.000	%	09/01/25	$	2,312,780
	2,500,000	g	Virgin Islands Public Finance Authority		5.000		09/01/33		2,783,950
			TOTAL VIRGIN ISLANDS						5,096,730
WASHINGTON - 0.6%
	500,000		Klickitat County Public Utility District No		5.000		12/01/27		637,730
	1,000,000		Pend Oreille County Public Utility District No Box Canyon		5.000		01/01/29		1,154,260
			TOTAL WASHINGTON						1,791,990
WEST VIRGINIA - 1.3%
	1,000,000		West Virginia Higher Education Policy Commission		5.000		07/01/27		1,259,790
	750,000		West Virginia Hospital Finance Authority		5.000		01/01/29		943,223
	1,215,000		West Virginia Hospital Finance Authority		5.000		01/01/30		1,514,352
			TOTAL WEST VIRGINIA						3,717,365
			TOTAL LONG-TERM MUNICIPAL BONDS						270,043,270
			(Cost $257,766,661)
			TOTAL INVESTMENTS - 97.0%						270,043,270
			(Cost $257,766,661)
			OTHER ASSETS & LIABILITIES, NET - 3.0%						8,452,855
			NET ASSETS - 100.0%					$	278,496,125

	Abbreviation(s):
GO	General Obligation
†	Security is categorized as Level 3 in the fair value hierarchy.
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933, as amended. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 9/30/2020, the aggregate value of these securities is $11,115,011 or 4.0% of net assets.
q	In default

289

TIAA-CREF FUNDS – Green Bond Fund

TIAA-CREF FUNDS
GREEN BOND FUND
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2020

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
BANK LOAN OBLIGATIONS - 1.0%
UTILITIES - 1.0%
$	425,561	i	ExGen Renewables IV LLC	LIBOR 3 M + 3.000%		4.000	%	11/28/24	$	424,365
			TOTAL UTILITIES							424,365
			TOTAL BANK LOAN OBLIGATIONS							424,365
			(Cost $422,452)
BONDS - 92.8%
CORPORATE BONDS - 46.3%
BANKS - 7.6%
	250,000		Bank of America Corp			0.981		09/25/25		249,939
	475,000		Bank of America Corp			2.456		10/22/25		500,894
	500,000		Citigroup, Inc			1.678		05/15/24		512,175
	250,000		First Abu Dhabi Bank PJSC			3.000		03/30/22		257,759
	500,000		HSBC Holdings plc			3.033		11/22/23		521,535
	450,000	g	ING Groep NV			1.400		07/01/26		455,033
	250,000		National Australia Bank Ltd			3.625		06/20/23		270,602
	250,000		Royal Bank of Scotland Group plc			2.359		05/22/24		256,498
	200,000	g	Shinhan Financial Group Co Ltd			3.340		02/05/30		209,650
			TOTAL BANKS							3,234,085
CAPITAL GOODS - 2.2%
	250,000		Johnson Controls International plc			1.750		09/15/30		252,102
	250,000	g	NBM US Holdings, Inc			6.625		08/06/29		267,813
	225,000		Xylem, Inc			1.950		01/30/28		234,297
	150,000		Xylem, Inc			2.250		01/30/31		158,920
			TOTAL CAPITAL GOODS							913,132
CONSUMER SERVICES - 1.3%
	250,000		Conservation Fund			3.474		12/15/29		270,109
	260,000	i	Nature Conservancy	LIBOR 3 M + 1.080%		1.331		02/01/24		258,141
			TOTAL CONSUMER SERVICES							528,250
DIVERSIFIED FINANCIALS - 0.6%
	250,000	i	Toronto-Dominion Bank	SOFR + 0.450%		0.520		09/28/23		250,074
			TOTAL DIVERSIFIED FINANCIALS							250,074
FOOD & STAPLES RETAILING - 0.6%
	250,000		SYSCO Corp			2.400		02/15/30		252,006
			TOTAL FOOD & STAPLES RETAILING							252,006
FOOD, BEVERAGE & TOBACCO - 0.6%
	250,000		PepsiCo, Inc			2.875		10/15/49		268,078
			TOTAL FOOD, BEVERAGE & TOBACCO							268,078

290

TIAA-CREF FUNDS – Green Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE		VALUE
HEALTH CARE EQUIPMENT & SERVICES - 1.1%
$	400,000		Kaiser Foundation Hospitals		3.150	%	05/01/27	$	447,832
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						447,832
MATERIALS - 2.7%
	250,000	g	Celulosa Arauco y Constitucion S.A.		5.150		01/29/50		264,750
	525,000	g	Inversiones CMPC S.A.		4.375		04/04/27		584,724
	250,000	g	LG Chem Ltd		3.625		04/15/29		277,298
			TOTAL MATERIALS						1,126,772
MEDIA & ENTERTAINMENT - 1.5%
	125,000		Alphabet, Inc		0.450		08/15/25		124,245
	250,000	g	Mosaic Solar Loan Trust		1.440		08/20/46		248,117
	260,000		Smithsonian Institution		2.645		09/01/39		268,231
			TOTAL MEDIA & ENTERTAINMENT						640,593
REAL ESTATE - 3.8%
	500,000		Alexandria Real Estate Equities, Inc		4.000		01/15/24		549,794
	250,000	h	Equinix, Inc		1.000		09/15/25		247,658
	275,000	g	HAT Holdings I LLC		5.250		07/15/24		286,569
	250,000	g	HAT Holdings I LLC		6.000		04/15/25		266,325
	250,000	g	HAT Holdings I LLC		3.750		09/15/30		250,625
			TOTAL REAL ESTATE						1,600,971
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.6%
	250,000	g	NXP BV		3.400		05/01/30		273,480
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT						273,480
TECHNOLOGY HARDWARE & EQUIPMENT - 1.3%
	500,000		Apple, Inc		3.000		06/20/27		563,803
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						563,803
UTILITIES - 22.4%
	250,000	g	AES Gener S.A.		6.350		10/07/79		252,187
	600,000		Avangrid, Inc		3.200		04/15/25		660,237
	500,000	g	Azure Power Energy Ltd		5.500		11/03/22		509,366
	300,000	g	Clearway Energy Operating LLC		4.750		03/15/28		311,250
	215,000	g	Consorcio Transmantaro SA		4.700		04/16/34		254,238
	250,000		DTE Electric Co		4.050		05/15/48		314,683
	250,000		Duke Energy Florida LLC		2.500		12/01/29		271,201
	250,000	g	Electricite de France S.A.		3.625		10/13/25		279,926
	500,000		Georgia Power Co		3.250		04/01/26		554,028
	250,000	g	Hanwha Energy USA Holdings Corp		2.375		07/30/22		256,946
	600,000		MidAmerican Energy Co		3.650		08/01/48		706,953
	250,000		MidAmerican Energy Co		3.150		04/15/50		276,350
	250,000	g	Niagara Mohawk Power Corp		1.960		06/27/30		257,046
	250,000		NorthWestern Corp		4.176		11/15/44		293,259
	100,000	g	Pattern Energy Operations LP		4.500		08/15/28		103,750
	529,000		Public Service Co of Colorado		3.700		06/15/28		617,032
	200,000		Public Service Co of Colorado		4.100		06/15/48		256,456
	250,000		Public Service Co of Colorado		3.200		03/01/50		283,709

291

TIAA-CREF FUNDS – Green Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE		VALUE
$	250,000		Southern Power Co		2.500	%	12/15/21	$	255,882
	500,000		Southwestern Public Service Co		3.750		06/15/49		588,860
	500,000		Southwestern Public Service Co		3.150		05/01/50		537,919
	226,750	g	Star Energy Geothermal Wayang Windu Ltd		6.750		04/24/33		249,444
	261,520	g	Topaz Solar Farms LLC		4.875		09/30/39		289,120
	275,000		Tucson Electric Power Co		1.500		08/01/30		272,383
	750,000		Westar Energy, Inc		2.550		07/01/26		812,678
			TOTAL UTILITIES						9,464,903
			TOTAL CORPORATE BONDS						19,563,979
			(Cost $18,273,043)
GOVERNMENT BONDS - 26.3%
AGENCY SECURITIES - 3.8%
	250,000		Overseas Private Investment Corp (OPIC)		1.790		10/15/29		263,644
	250,000		OPIC		2.360		10/15/29		272,411
	236,800		OPIC		3.050		06/15/35		269,713
	236,800		OPIC		3.590		06/15/35		279,939
	250,000		OPIC		1.630		07/15/38		260,033
	250,000		United States International Development Finance Corp		1.050		10/15/29		253,060
			TOTAL AGENCY SECURITIES						1,598,800
FOREIGN GOVERNMENT BONDS - 9.7%
	579,000		Asian Development Bank		1.750		08/14/26		618,800
	250,000		Asian Development Bank		3.125		09/26/28		296,711
	250,000		Chile Government International Bond		3.500		01/25/50		285,000
	200,000	g	Egypt Government International Bond		5.250		10/06/25		199,540
	250,000		European Bank for Reconstruction & Development		1.625		09/27/24		262,553
	250,000		European Investment Bank		1.625		10/09/29		267,778
	500,000		International Bank for Reconstruction & Development		2.125		03/03/25		537,526
	500,000		International Bank for Reconstruction & Development		3.125		11/20/25		567,278
	235,000	g	Korea Electric Power Corp		1.125		06/15/25		236,140
	250,000		North American Development Bank		2.400		10/26/22		258,574
	300,000	g	Perusahaan Penerbit SBSN Indonesia III		3.750		03/01/23		318,390
	250,000	g	Perusahaan Penerbit SBSN Indonesia III		3.900		08/20/24		274,575
			TOTAL FOREIGN GOVERNMENT BONDS						4,122,865
MUNICIPAL BONDS - 12.8%
	360,000		City of Austin TX Electric Utility Revenue		2.677		11/15/25		395,579
	300,000		City of Cleveland OH Income Tax Revenue		3.072		10/01/41		303,054
	600,000		Grant County Public Utility District No 2		1.544		01/01/23		614,442
	250,000		Grant County Public Utility District No 2		3.210		01/01/40		265,910
	235,000		Great Lakes Water Authority Sewage Disposal System Revenue		3.056		07/01/39		251,704
	100,000		Klickitat County Public Utilities		3.688		12/01/38		107,383
	500,000		Metropolitan Transportation Authority		5.175		11/15/49		545,905
	210,000		Mount Shasta Public Financing Authority		3.000		08/01/35		231,067
	220,000		Mount Shasta Public Financing Authority		2.625		08/01/36		232,439
	120,000		Mount Shasta Public Financing Authority		2.625		08/01/37		126,312
	160,000		Mount Shasta Public Financing Authority		2.750		08/01/38		168,789
	165,000		Mount Shasta Public Financing Authority		2.750		08/01/39		173,507
	100,000		New York State Energy Research & Development Authority		4.577		04/01/35		102,869

292

TIAA-CREF FUNDS – Green Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	105,000		New York State Environmental Facilities Corp			2.506	%	11/15/22	$	108,859
	500,000	g	Ohio Air Quality Development Authority			4.500		01/15/48		534,545
	250,000	g	Pennsylvania Economic Development Financing Authority			10.000		12/01/29		254,495
	500,000	i	State of California	LIBOR 1 M + 0.780%		0.937		04/01/47		499,695
	500,000	g	Warm Springs Reservation Confederated Tribe			2.800		11/01/22		510,035
			TOTAL MUNICIPAL BONDS							5,426,589
			TOTAL GOVERNMENT BONDS							11,148,254
			(Cost $10,558,409)
STRUCTURED ASSETS - 20.2%
ASSET BACKED - 12.8%
	250,000	g,i	BFLD Trust			2.150		10/15/22		250,000
			Series - 2020 EYP (Class C)
	230,027	g	HERO Funding Trust			4.050		09/20/41		238,477
			Series - 2016 1A (Class A)
	356,339	g	HERO Funding Trust			3.910		09/20/42		368,147
			Series - 2016 3A (Class A2)
	205,670	g	HERO Funding Trust			4.290		09/20/47		216,060
			Series - 2016 4A (Class A2)
	91,850	g	HERO Funding Trust			4.460		09/20/47		98,873
			Series - 2017 1A (Class A2)
	219,691	g	HERO Funding Trust			3.190		09/20/48		226,371
			Series - 2017 3A (Class A1)
	442,678	g	HERO Funding Trust			3.950		09/20/48		464,209
			Series - 2017 3A (Class A2)
	233,750	g	HERO Funding Trust			2.720		09/20/57		234,155
			Series - 2020 1A (Class A)
	237,563	g	Mosaic Solar Loan Trust			2.100		04/20/46		242,700
			Series - 2020 1A (Class A)
	92,484	g	SolarCity LMC			4.800		09/20/48		95,888
			Series - 2016 A (Class A)
	239,179	g	Sunrun Athena Issuer LLC			5.310		04/30/49		261,195
			Series - 2018 1 (Class A)
	491,441	g	Sunrun Atlas Issuer LLC			3.610		02/01/55		514,790
			Series - 2019 2 (Class A)
	446,153	g	Sunrun Callisto Issuer LLC			3.980		06/30/54		457,211
			Series - 2019 1A (Class A)
	502,371	g	Tesla Auto Lease Trust			3.710		08/20/21		507,088
			Series - 2018 B (Class A)
	204,645	g	Tesla Auto Lease Trust			2.130		04/20/22		206,923
			Series - 2019 A (Class A2)
	250,000	g	Tesla Auto Lease Trust			2.160		10/20/22		256,226
			Series - 2019 A (Class A3)
	250,000	g	Tesla Auto Lease Trust			2.200		11/21/22		256,941
			Series - 2019 A (Class A4)
	250,000	g	Tesla Auto Lease Trust			0.780		12/20/23		251,503
			Series - 2020 A (Class A4)
	250,000	g	Vivint Solar Financing VII LLC			2.210		07/31/51		250,660
			Series - 2020 1A (Class A)
			TOTAL ASSET BACKED							5,397,417

293

TIAA-CREF FUNDS – Green Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
OTHER MORTGAGE BACKED - 7.4%
$	100,000	g	BBCMS Trust		4.498	%	08/10/35	$	112,681
			Series - 2015 SRCH (Class B)
	500,000	g	COMM Mortgage Trust		3.178		02/10/35		535,983
			Series - 2015 3BP (Class A)
	500,000	g	CPT Mortgage Trust		2.865		11/13/39		544,260
			Series - 2019 CPT (Class A)
	275,000	g	GRACE Mortgage Trust		3.369		06/10/28		276,672
			Series - 2014 GRCE (Class A)
	175,517	g	JP Morgan Chase Commercial Mortgage Securities Trust		3.093		07/05/32		180,743
			Series - 2012 HSBC (Class A)
	500,000	g,i	Manhattan West		2.413		09/10/39		511,987
			Series - 2020 1MW (Class B)
	250,000	g,i	Morgan Stanley Capital I Trust		2.509		04/05/42		223,234
			Series - 2020 CNP (Class C)
	250,000	g,i	Natixis Commercial Mortgage Securities Trust		4.402		07/15/36		230,265
			Series - 2019 MILE (Class F)
	500,000	g	One Bryant Park Trust		2.516		09/15/54		531,678
			Series - 2019 OBP (Class A)
			TOTAL OTHER MORTGAGE BACKED						3,147,503
			TOTAL STRUCTURED ASSETS						8,544,920
			(Cost $8,289,940)
			TOTAL BONDS						39,257,153
			(Cost $37,121,392)
SHARES			COMPANY
PREFERRED STOCKS - 3.1%
REAL ESTATE - 0.9%
	10,000		Brookfield Property Partners LP						198,300
	10,000		Brookfield Property Partners LP						178,700
			TOTAL REAL ESTATE						377,000
UTILITIES - 2.2%
	20,000	*	Brookfield Infrastructure Partners LP						515,000
	16,000		Brookfield Renewable Partners LP						420,960
			TOTAL UTILITIES						935,960
			TOTAL PREFERRED STOCKS						1,312,960
			(Cost $1,400,000)
PRINCIPAL			ISSUER
SHORT-TERM INVESTMENTS - 5.0%
REPURCHASE AGREEMENT - 5.0%
$	2,120,000	r	Fixed Income Clearing Corp (FICC)		0.070		10/01/20		2,120,000
			TOTAL REPURCHASE AGREEMENT						2,120,000

294

TIAA-CREF FUNDS – Green Bond Fund

ISSUER	VALUE
TOTAL SHORT-TERM INVESTMENTS	$	2,120,000
(Cost $2,120,000)
TOTAL INVESTMENTS - 101.9%		43,114,478
(Cost $41,063,844)
OTHER ASSETS & LIABILITIES, NET - (1.9)%		(790,712	)
NET ASSETS - 100.0%	$	42,323,766

	Abbreviation(s):
LIBOR	London Interbank Offered Rate
M	Month
SOFR	Secure Overnight Financing Rate

*	Non-income producing
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933, as amended. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 9/30/2020, the aggregate value of these securities is $17,020,297 or 40.2% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.
i	Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.
r	Agreement with Fixed Income Clearing Corporation, 0.070% dated 9/30/20 to be repurchased at $2,120,000 on 10/01/20, collateralized by U.S. Treasury Notes valued at $2,162,494.

295

TIAA-CREF FUNDS – High-Yield Fund

TIAA-CREF FUNDS

HIGH-YIELD FUND

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2020

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
BANK LOAN OBLIGATIONS - 5.8%
AUTOMOBILES & COMPONENTS - 0.3%
$	11,393,993	i	Gates Global LLC	LIBOR 1 M + 2.750%		3.750	%	04/01/24	$	11,208,841
			TOTAL AUTOMOBILES & COMPONENTS							11,208,841
CAPITAL GOODS - 0.6%
	2,550,000	h,i	Blount International, Inc	LIBOR 1 M + 3.750%		4.750		04/12/23		2,525,775
	1,400,000	h,i	DiversiTech Holdings, Inc	LIBOR 3 M + 3.000%		4.000		06/01/24		1,373,750
	6,996,410	h,i	Engineered Machinery Holdings, Inc	LIBOR 3 M + 3.000%		4.000		07/19/24		6,812,755
	4,371,481	i	Titan Acquisition Ltd	LIBOR 3 M + 3.000%		3.361		03/28/25		4,118,765
	7,157,063	i	Vertiv Group Corp	LIBOR 1 M + 3.000%		3.157		03/02/27		7,035,392
			TOTAL CAPITAL GOODS							21,866,437
COMMERCIAL & PROFESSIONAL SERVICES - 0.9%
	1,496,250	i	Amentum Government Services Holdings LLC	LIBOR 1 M + 3.500%		3.647		01/29/27		1,470,694
	12,500,000	i	GFL Environmental, Inc	LIBOR 3 M + 3.000%		4.000		05/30/25		12,431,250
	14,465,825	i	Spin Holdco, Inc	LIBOR 3 M + 3.250%		4.250		11/14/22		14,148,155
	5,984,615	i	West Corp	LIBOR 1 M + 4.000%		5.000		10/10/24		5,416,676
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES							33,466,775
CONSUMER SERVICES - 0.0%
	13,275,000	i,q	CDS US Intermediate Holdings, Inc	LIBOR 1 M + 8.250%		9.250		07/10/23		1,991,250
			TOTAL CONSUMER SERVICES							1,991,250
ENERGY - 0.3%
	8,706,250	i	Buckeye Partners LP	LIBOR 1 M + 2.750%		2.897		11/02/26		8,532,125
	4,350,000	i	ChampionX Holding, Inc	LIBOR 3 M + 5.000%		6.000		06/03/27		4,322,813
			TOTAL ENERGY							12,854,938
HEALTH CARE EQUIPMENT & SERVICES - 1.0%
	5,000,000	i	Agiliti Health, Inc	LIBOR 1 M + 3.000%		3.188		01/05/26		4,837,500
	1,800,000	h,i	AHP Health Partners, Inc	LIBOR 1 M + 4.500%		5.500		06/28/25		1,796,058
	3,940,125	i	Da Vinci Purchaser Corp	LIBOR 3 M + 4.000%		5.238		01/08/27		3,887,603
	9,850,000	i	Envision Healthcare Corp	LIBOR 1 M + 3.750%		3.906		10/10/25		7,083,233
	18,648,659	i	RegionalCare Hospital Partners Holdings, Inc	LIBOR 1 M + 3.750%		3.897		11/16/25		18,089,199
			TOTAL HEALTH CARE EQUIPMENT & SERVICES							35,693,593
HOUSEHOLD & PERSONAL PRODUCTS - 0.3%
	10,000,000	h,i	KIK Custom Products, Inc	LIBOR 3 M + 4.000%		5.000		05/15/23		9,922,800
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS							9,922,800
INSURANCE - 0.7%
	12,201,412	i	Acrisure LLC	LIBOR 1 M + 3.500%		3.647		02/15/27		11,759,110
	5,143,182	i	Asurion LLC	LIBOR 1 M + 6.500%		6.647		08/04/25		5,144,262
	3,349,688	i	HUB International Ltd	LIBOR 1 M + 4.000%		5.000		04/25/25		3,333,978
	4,714,375	i	USI, Inc	LIBOR 3 M + 4.000%		4.220		12/02/26		4,659,358
			TOTAL INSURANCE							24,896,708

296

TIAA-CREF FUNDS – High-Yield Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
MEDIA & ENTERTAINMENT - 0.2%
$	1,025,000	h,i	Cablevision Lightpath LLC	LIBOR 3 M + 3.250%		4.250	%	12/31/27	$	1,018,594
	4,987,406	i	Clear Channel Outdoor Holdings, Inc	LIBOR 3 M + 3.500%		3.761		08/21/26		4,527,317
	2,725,000	h,i	Radiate Holdco LLC	LIBOR 1 M + 3.500%		4.250		09/11/26		2,673,906
			TOTAL MEDIA & ENTERTAINMENT							8,219,817
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.5%
	9,021,000	i	Alphabet Holding Co, Inc	LIBOR 1 M + 3.500%		3.647		09/26/24		8,751,994
	9,287,730	i	Bausch Health Americas, Inc	LIBOR 1 M + 3.000%		3.151		06/02/25		9,092,316
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES							17,844,310
REAL ESTATE - 0.1%
	4,419,977	i	Cushman & Wakefield plc	LIBOR 1 M + 2.750%		2.897		08/21/25		4,252,636
			TOTAL REAL ESTATE							4,252,636
RETAILING - 0.5%
	10,000,000	i	Greenden Holdings II LLC	LIBOR 1 M + 3.250%		3.406		12/01/23		9,966,700
	9,751,563	i	Staples, Inc	LIBOR 3 M + 5.000%		5.251		04/16/26		9,047,597
			TOTAL RETAILING							19,014,297
SOFTWARE & SERVICES - 0.3%
	4,700,000	i	Camelot US Acquisition	LIBOR 3 M + 3.000%		4.250		10/31/26		4,674,526
	7,960,000	i	Dun & Bradstreet Corp	LIBOR 1 M + 3.750%		3.895		02/06/26		7,868,460
			TOTAL SOFTWARE & SERVICES							12,542,986
UTILITIES - 0.1%
	3,046,637	i	ExGen Renewables IV LLC	LIBOR 3 M + 3.000%		4.000		11/28/24		3,038,076
			TOTAL UTILITIES							3,038,076
			TOTAL BANK LOAN OBLIGATIONS							216,813,464
			(Cost $233,207,906)
BONDS - 89.7%
CORPORATE BONDS - 89.7%
AUTOMOBILES & COMPONENTS - 4.5%
	14,950,000	g	Adient Global Holdings Ltd			4.875		08/15/26		14,239,875
	2,737,000	g	Adient US LLC			9.000		04/15/25		3,017,542
	3,600,000	g	Allison Transmission, Inc			5.000		10/01/24		3,636,216
	600,000	g	Allison Transmission, Inc			4.750		10/01/27		617,250
	5,525,000	g	Clarios Global LP			6.750		05/15/25		5,815,062
	5,700,000	g	Dana Financing Luxembourg SARL			5.750		04/15/25		5,828,250
	7,500,000	g	Dana Financing Luxembourg SARL			6.500		06/01/26		7,818,750
	1,900,000		Dana, Inc			5.500		12/15/24		1,938,000
	6,695,000		Dana, Inc			5.375		11/15/27		6,862,375
	2,450,000		Dana, Inc			5.625		06/15/28		2,529,625
	9,900,000		Ford Motor Co			8.500		04/21/23		10,791,000
	10,150,000		Ford Motor Co			9.000		04/22/25		11,637,077
	5,825,000		Ford Motor Co			9.625		04/22/30		7,521,531
	22,075,000	g	Gates Global LLC			6.250		01/15/26		22,682,063

297

TIAA-CREF FUNDS – High-Yield Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	25,000,000		Goodyear Tire & Rubber Co		9.500	%	05/31/25	$	27,125,750
	1,100,000	g,o	IHO Verwaltungs GmbH		4.750		09/15/26		1,113,750
	19,800,000	g,o	IHO Verwaltungs GmbH		6.375		05/15/29		21,087,000
	10,650,000	g	Panther BF Aggregator 2 LP		8.500		05/15/27		11,049,375
			TOTAL AUTOMOBILES & COMPONENTS						165,310,491
CAPITAL GOODS - 3.7%
	2,000,000	g	American Builders & Contractors Supply Co, Inc		4.000		01/15/28		2,032,500
	10,950,000	g	Beacon Escrow Corp		4.875		11/01/25		10,731,000
	3,574,000	g	Beacon Roofing Supply, Inc		4.500		11/15/26		3,681,220
	10,925,000	g	Bombardier, Inc		6.125		01/15/23		9,340,875
	12,375,000	g	Bombardier, Inc		7.875		04/15/27		9,385,695
	2,200,000	g	Builders FirstSource, Inc		6.750		06/01/27		2,356,750
	10,015,000	g	Cloud Crane LLC		10.125		08/01/24		10,152,706
	15,500,000		H&E Equipment Services, Inc		5.625		09/01/25		16,158,750
	3,337,000		Howmet Aerospace, Inc		6.875		05/01/25		3,687,385
	2,025,000	g	Masonite International Corp		5.375		02/01/28		2,163,105
	5,475,000	g	Navistar International Corp		9.500		05/01/25		6,149,274
	6,300,000	g	PowerTeam Services LLC		9.033		12/04/25		6,638,625
	4,650,000	g	Sensata Technologies, Inc		3.750		02/15/31		4,620,938
	4,150,000	g	SPX FLOW, Inc		5.875		08/15/26		4,316,000
	12,250,000		TransDigm UK Holdings plc		6.875		05/15/26		12,310,025
	4,375,000		TransDigm, Inc		6.500		07/15/24		4,364,063
	2,375,000		TransDigm, Inc		6.500		05/15/25		2,367,578
	2,000,000	g	TransDigm, Inc		8.000		12/15/25		2,175,000
	4,000,000		TransDigm, Inc		7.500		03/15/27		4,153,240
	10,780,000	g	WESCO Distribution, Inc		7.125		06/15/25		11,742,654
	7,560,000	g	WESCO Distribution, Inc		7.250		06/15/28		8,283,303
			TOTAL CAPITAL GOODS						136,810,686
COMMERCIAL & PROFESSIONAL SERVICES - 4.6%
	12,350,000	g	ADT Corp		4.875		07/15/32		12,473,500
	2,250,000		AECOM		5.875		10/15/24		2,435,389
	13,500,000		AECOM		5.125		03/15/27		14,581,620
	6,100,000	g	Allied Universal Holdco LLC		6.625		07/15/26		6,496,500
	6,785,000	g	ASGN, Inc		4.625		05/15/28		6,812,954
	1,515,000	g	GFL Environmental, Inc		4.250		06/01/25		1,530,150
	7,850,000	g	GFL Environmental, Inc		3.750		08/01/25		7,830,375
	2,025,000	g	GFL Environmental, Inc		7.000		06/01/26		2,134,755
	1,960,000	g	GFL Environmental, Inc		5.125		12/15/26		2,038,400
	1,050,000	g	GFL Environmental, Inc		8.500		05/01/27		1,139,250
	7,475,000	g	KAR Auction Services, Inc		5.125		06/01/25		7,474,850
	10,700,000	g	Prime Security Services Borrower LLC		5.250		04/15/24		11,208,250
	25,075,000	g	Prime Security Services Borrower LLC		5.750		04/15/26		26,814,704
	5,325,000	g	Prime Security Services Borrower LLC		3.375		08/31/27		5,118,656
	18,100,000	g	Prime Security Services Borrower LLC		6.250		01/15/28		18,326,250
	2,000,000	g	Ritchie Bros Auctioneers, Inc		5.375		01/15/25		2,057,500
	7,900,000		RR Donnelley & Sons Co		6.500		11/15/23		7,386,500
	8,225,000	g	Stericycle, Inc		5.375		07/15/24		8,541,251
	6,675,000		United Rentals North America, Inc		4.625		10/15/25		6,825,188
	1,175,000		United Rentals North America, Inc		5.875		09/15/26		1,238,156
	4,500,000		United Rentals North America, Inc		5.500		05/15/27		4,786,875
	4,200,000		United Rentals North America, Inc		4.875		01/15/28		4,410,000
	8,925,000		United Rentals North America, Inc		3.875		02/15/31		9,058,875
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES						170,719,948

298

TIAA-CREF FUNDS – High-Yield Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
CONSUMER DURABLES & APPAREL - 2.1%
$	1,275,000	g	CD&R Smokey Buyer, Inc		6.750	%	07/15/25	$	1,345,125
	2,125,000	g	Hanesbrands, Inc		4.625		05/15/24		2,209,554
	1,000,000	g	Hanesbrands, Inc		4.875		05/15/26		1,067,500
	1,900,000		KB Home		7.625		05/15/23		2,085,250
	10,085,000		KB Home		6.875		06/15/27		11,900,300
	11,000,000		Lennar Corp		4.500		04/30/24		11,797,500
	8,150,000		Lennar Corp		5.875		11/15/24		9,107,625
	8,000,000		M/I Homes, Inc		4.950		02/01/28		8,240,000
	8,875,000	g	Mattamy Group Corp		5.250		12/15/27		9,119,062
	18,050,000	g	Mattel, Inc		6.750		12/31/25		19,042,750
	1,825,000		Newell Brands, Inc		4.875		06/01/25		1,968,719
			TOTAL CONSUMER DURABLES & APPAREL						77,883,385
CONSUMER SERVICES - 4.5%
	3,425,000	g	1011778 BC ULC / New Red Finance, Inc		4.250		05/15/24		3,488,191
	2,350,000	g	1011778 BC ULC / New Red Finance, Inc		5.750		04/15/25		2,508,625
	15,000,000	g	1011778 BC ULC / New Red Finance, Inc		5.000		10/15/25		15,380,400
	4,500,000	g	Boyd Gaming Corp		8.625		06/01/25		4,933,260
	5,163,000	g	Cedar Fair LP		5.500		05/01/25		5,304,983
	11,000,000	g	Cott Holdings, Inc		5.500		04/01/25		11,275,000
	13,400,000	g	frontdoor, Inc		6.750		08/15/26		14,271,000
	3,500,000		Hilton Worldwide Finance LLC		4.625		04/01/25		3,517,500
	4,617,000	g	International Game Technology plc		6.250		02/15/22		4,715,111
	10,270,000	g	International Game Technology plc		6.500		02/15/25		10,955,009
	4,650,000	g	International Game Technology plc		6.250		01/15/27		4,981,452
	2,025,000	g	International Game Technology plc		5.250		01/15/29		2,047,781
	2,500,000	g	Live Nation Entertainment, Inc		4.875		11/01/24		2,418,750
	16,425,000	g	Live Nation Entertainment, Inc		6.500		05/15/27		17,726,517
	11,250,000		MGM Resorts International		6.000		03/15/23		11,670,806
	10,000,000	g	Penn National Gaming, Inc		5.625		01/15/27		10,373,000
	9,750,000	g	Scientific Games International, Inc		8.625		07/01/25		10,173,881
	9,650,000	g	Scientific Games International, Inc		5.000		10/15/25		9,710,313
	13,000,000	g	Wynn Las Vegas LLC		5.500		03/01/25		12,480,000
	8,523,000	g	Yum! Brands, Inc		7.750		04/01/25		9,417,915
			TOTAL CONSUMER SERVICES						167,349,494
DIVERSIFIED FINANCIALS - 4.3%
	5,000,000		Ford Motor Credit Co LLC		5.085		01/07/21		5,006,250
	2,000,000		Ford Motor Credit Co LLC		3.813		10/12/21		2,005,000
	5,000,000		Ford Motor Credit Co LLC		5.596		01/07/22		5,112,500
	5,000,000		Ford Motor Credit Co LLC		3.219		01/09/22		4,993,500
	5,000,000		Ford Motor Credit Co LLC		4.250		09/20/22		5,043,300
	25,400,000		Ford Motor Credit Co LLC		4.063		11/01/24		25,368,250
	5,000,000		Ford Motor Credit Co LLC		5.113		05/03/29		5,137,500
	7,825,000		General Motors Financial Co, Inc		5.700		N/A‡		7,854,344
	4,500,000		Icahn Enterprises LP		6.750		02/01/24		4,615,987
	10,000,000		Icahn Enterprises LP		4.750		09/15/24		10,125,000
	9,700,000		Icahn Enterprises LP		5.250		05/15/27		10,105,460
	10,200,000	g	Jefferies Finance LLC		6.250		06/03/26		10,353,000
	5,600,000	g	Lions Gate Capital Holdings LLC		6.375		02/01/24		5,544,000

299

TIAA-CREF FUNDS – High-Yield Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	6,325,000	g	Lions Gate Capital Holdings LLC		5.875	%	11/01/24	$	6,214,312
	4,600,000	g	LPL Holdings, Inc		4.625		11/15/27		4,646,000
	8,000,000		Navient Corp		6.125		03/25/24		8,080,000
	14,350,000	g	Quicken Loans, Inc		5.250		01/15/28		15,120,021
	10,675,000		Springleaf Finance Corp		6.125		03/15/24		11,182,063
	3,650,000		Springleaf Finance Corp		8.875		06/01/25		4,042,375
	10,960,000		Springleaf Finance Corp		5.375		11/15/29		11,398,400
			TOTAL DIVERSIFIED FINANCIALS						161,947,262
ENERGY - 14.9%
	9,175,000		AmeriGas Partners LP		5.500		05/20/25		9,852,115
	8,375,000		AmeriGas Partners LP		5.875		08/20/26		9,206,051
	13,075,000	g	Antero Midstream Partners LP		5.750		03/01/27		10,819,562
	9,625,000	g	Antero Midstream Partners LP		5.750		01/15/28		7,916,562
	9,550,000	g	Archrock Partners LP		6.875		04/01/27		9,170,005
	6,000,000	g	Archrock Partners LP		6.250		04/01/28		5,655,000
	2,000,000		Ashland, Inc		6.875		05/15/43		2,560,000
	6,200,000		Calumet Specialty Products Partners LP		7.750		04/15/23		5,550,302
	6,000,000	g	Calumet Specialty Products Partners LP		11.000		04/15/25		5,430,000
	9,825,000		Cenovus Energy, Inc		5.375		07/15/25		9,454,093
	7,000,000		Cheniere Energy Partners LP		5.625		10/01/26		7,280,000
	11,875,000		Cheniere Energy Partners LP		4.500		10/01/29		12,177,812
	9,000,000	g	Cheniere Energy, Inc		4.625		10/15/28		9,236,250
	971,112	†	Cloud Peak Energy, Inc		9.000		10/24/24		291,334
	1,820,835	†,o	Cloud Peak Energy, Inc		12.000		05/01/25		546,250
	3,375,000		Comstock Resources, Inc		9.750		08/15/26		3,460,050
	4,945,000		Continental Resources, Inc		5.000		09/15/22		4,911,028
	13,787,000		Continental Resources, Inc		4.500		04/15/23		13,144,664
	7,345,000		Crestwood Midstream Partners LP		6.250		04/01/23		7,180,545
	6,050,000		Crestwood Midstream Partners LP		5.750		04/01/25		5,505,500
	5,700,000	g	Crestwood Midstream Partners LP		5.625		05/01/27		5,091,639
	5,168,000		EnLink Midstream Partners LP		4.150		06/01/25		4,449,803
	5,000,000		EnLink Midstream Partners LP		4.850		07/15/26		4,325,550
	9,500,000	g,q	EP Energy LLC		7.750		05/15/26		2,078,125
	4,400,000	g	EQM Midstream Partners LP		6.000		07/01/25		4,537,500
	7,200,000	g	EQM Midstream Partners LP		6.500		07/01/27		7,632,144
	9,400,000		Genesis Energy LP		6.500		10/01/25		8,060,500
	15,000,000		Genesis Energy LP		6.250		05/15/26		12,490,650
	6,175,000		Genesis Energy LP		7.750		02/01/28		5,365,149
	1,075,000		Global Partners LP		7.000		08/01/27		1,095,565
	8,825,000	g	Hess Midstream Operations LP		5.625		02/15/26		8,990,292
	12,500,000	g	Leviathan Bond Ltd		5.750		06/30/23		12,873,569
	13,250,000	g	Leviathan Bond Ltd		6.125		06/30/25		13,679,151
	7,000,000	g	Leviathan Bond Ltd		6.500		06/30/27		7,258,029
	5,250,000	g	Leviathan Bond Ltd		6.750		06/30/30		5,426,841
	8,750,000	g	Moss Creek Resources Holdings, Inc		10.500		05/15/27		5,468,750
	6,875,000		Murphy Oil Corp		6.875		08/15/24		6,359,375
	4,800,000		Murphy Oil Corp		5.750		08/15/25		4,187,400
	13,482,000		Murphy Oil Corp		5.875		12/01/27		11,514,167
	1,650,000		Murphy Oil USA, Inc		5.625		05/01/27		1,753,125
	3,750,000		Nabors Industries, Inc		5.100		09/15/23		1,989,000
	5,875,000		Nabors Industries, Inc		5.750		02/01/25		1,982,813
	2,775,000		NuStar Logistics LP		5.750		10/01/25		2,866,020
	2,275,000		NuStar Logistics LP		6.375		10/01/30		2,360,312

300

TIAA-CREF FUNDS – High-Yield Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	5,000,000		Occidental Petroleum Corp		3.125	%	02/15/22	$	4,725,800
	8,660,000		Occidental Petroleum Corp		2.700		08/15/22		8,091,644
	5,000,000		Occidental Petroleum Corp		6.950		07/01/24		4,845,550
	5,000,000		Occidental Petroleum Corp		2.900		08/15/24		4,242,150
	10,000,000		Occidental Petroleum Corp		8.000		07/15/25		10,062,300
	13,775,000		Occidental Petroleum Corp		5.875		09/01/25		12,624,237
	10,000,000		Occidental Petroleum Corp		8.500		07/15/27		10,077,100
	17,875,000		Occidental Petroleum Corp		6.375		09/01/28		16,546,888
	11,800,000		Occidental Petroleum Corp		8.875		07/15/30		12,154,000
	10,000,000		Occidental Petroleum Corp		6.450		09/15/36		8,500,200
	7,000,000	g	Parkland Fuel Corp		6.000		04/01/26		7,332,500
	6,975,000	g	Parkland Fuel Corp		5.875		07/15/27		7,332,469
	2,375,000		Range Resources Corp		4.875		05/15/25		2,143,675
	15,000,000	g	Range Resources Corp		9.250		02/01/26		15,412,500
	3,325,000	g	Rattler Midstream LP		5.625		07/15/25		3,349,938
	1,900,000		SM Energy Co		6.750		09/15/26		845,500
	10,500,000		SM Energy Co		6.625		01/15/27		4,663,995
	14,250,000		Southwestern Energy Co		7.500		04/01/26		13,929,375
	4,750,000		Southwestern Energy Co		7.750		10/01/27		4,607,500
	7,630,000	g	Stena AB		7.000		02/01/24		7,454,510
	1,650,000	g	Stena International S.A.		6.125		02/01/25		1,586,063
	10,200,000		Suburban Propane Partners LP		5.750		03/01/25		10,329,642
	8,175,000		Suburban Propane Partners LP		5.875		03/01/27		8,369,156
	3,361,000		Sunoco LP		4.875		01/15/23		3,377,805
	2,500,000		Sunoco LP		5.500		02/15/26		2,496,875
	5,000,000		Sunoco LP		6.000		04/15/27		5,137,500
	9,825,000		Targa Resources Partners LP		5.125		02/01/25		9,800,438
	11,500,000		Targa Resources Partners LP		5.875		04/15/26		11,807,050
	2,025,000		Targa Resources Partners LP		6.500		07/15/27		2,111,063
	10,000,000		Targa Resources Partners LP		5.000		01/15/28		9,750,000
	6,125,000	g	Targa Resources Partners LP		4.875		02/01/31		5,931,603
	10,000,000	g	TerraForm Power Operating LLC		5.000		01/31/28		10,946,750
	6,413,160	g	Transocean Guardian Ltd		5.875		01/15/24		4,136,488
	1,990,000	g	Transocean, Inc		11.500		01/30/27		796,000
	18,000,000		USA Compression Partners LP		6.875		04/01/26		17,842,500
	2,650,000		USA Compression Partners LP		6.875		09/01/27		2,627,793
	5,000,000		Western Midstream Operating LP		4.100		02/01/25		4,762,500
	3,575,000		Western Midstream Operating LP		5.050		02/01/30		3,485,321
	2,125,000		WPX Energy, Inc		5.250		10/15/27		2,156,875
			TOTAL ENERGY						557,575,845
FOOD & STAPLES RETAILING - 1.1%
	11,400,000		Albertsons Cos LLC		5.750		03/15/25		11,759,670
	1,325,000	g	Albertsons Cos LLC		5.875		02/15/28		1,414,437
	14,300,000	g	Albertsons Cos, Inc		3.250		03/15/26		14,190,176
	5,900,000	g	Albertsons Cos, Inc		4.875		02/15/30		6,150,750
	7,569,000		Ingles Markets, Inc		5.750		06/15/23		7,676,480
			TOTAL FOOD & STAPLES RETAILING						41,191,513
FOOD, BEVERAGE & TOBACCO - 1.9%
	4,450,000		Kraft Heinz Foods Co		3.000		06/01/26		4,581,991
	22,775,000	g	Kraft Heinz Foods Co		3.875		05/15/27		24,259,930
	17,275,000	g	Kraft Heinz Foods Co		4.250		03/01/31		18,940,316

301

TIAA-CREF FUNDS – High-Yield Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	1,675,000		Kraft Heinz Foods Co		4.375	%	06/01/46	$	1,719,418
	8,050,000	g	Lamb Weston Holdings, Inc		4.875		11/01/26		8,392,125
	2,375,000	g	Post Holdings, Inc		5.000		08/15/26		2,434,375
	10,284,000	g	Post Holdings, Inc		4.625		04/15/30		10,579,665
			TOTAL FOOD, BEVERAGE & TOBACCO						70,907,820
HEALTH CARE EQUIPMENT & SERVICES - 7.8%
	1,325,000	g	AMN Healthcare, Inc		4.625		10/01/27		1,358,125
	10,795,000	g	Avantor Funding, Inc		4.625		07/15/28		11,199,812
	15,682,000		Centene Corp		4.750		01/15/25		16,117,960
	2,000,000	g	Centene Corp		5.375		08/15/26		2,118,350
	7,175,000		Centene Corp		4.625		12/15/29		7,739,385
	22,050,000		Centene Corp		3.375		02/15/30		22,876,875
	9,150,000		CHS/Community Health Systems, Inc		6.250		03/31/23		8,944,125
	2,000,000	g	CHS/Community Health Systems, Inc		8.625		01/15/24		1,990,000
	15,125,000	g	CHS/Community Health Systems, Inc		6.625		02/15/25		14,631,925
	10,000,000	g	CHS/Community Health Systems, Inc		8.000		03/15/26		9,818,875
	3,850,000	g	CHS/Community Health Systems, Inc		8.000		12/15/27		3,763,375
	17,815,000	g	DaVita, Inc		4.625		06/01/30		18,285,316
	18,750,000	g	DaVita, Inc		3.750		02/15/31		18,066,562
	2,698,000		Encompass Health Corp		5.750		11/01/24		2,702,047
	4,000,000		Encompass Health Corp		5.750		09/15/25		4,120,000
	8,100,000		Encompass Health Corp		4.500		02/01/28		8,140,500
	3,750,000		Encompass Health Corp		4.750		02/01/30		3,804,525
	2,125,000		Encompass Health Corp		4.625		04/01/31		2,125,000
	15,000,000	g,h	Global Medical Response, Inc		6.500		10/01/25		14,889,000
	33,350,000		HCA, Inc		5.375		02/01/25		36,518,250
	900,000		HCA, Inc		7.500		11/06/33		1,197,000
	6,975,000	g	Hologic, Inc		3.250		02/15/29		7,018,594
	4,425,000	g	MEDNAX, Inc		6.250		01/15/27		4,590,760
	4,950,000	g	Molina Healthcare, Inc		4.375		06/15/28		5,051,475
	4,005,000		MPT Operating Partnership LP		5.500		05/01/24		4,055,062
	5,000,000		MPT Operating Partnership LP		5.000		10/15/27		5,213,500
	7,275,000		MPT Operating Partnership LP		4.625		08/01/29		7,569,419
	2,290,000	g	Teleflex, Inc		4.250		06/01/28		2,370,150
	23,125,000		Tenet Healthcare Corp		4.625		07/15/24		23,182,813
	2,625,000	g	Tenet Healthcare Corp		7.500		04/01/25		2,828,438
	2,500,000	g	Tenet Healthcare Corp		4.625		06/15/28		2,521,063
	17,050,000	g	Tenet Healthcare Corp		6.125		10/01/28		16,602,438
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						291,410,719
MATERIALS - 8.0%
	1,600,000	g	Alcoa Nederland Holding BV		6.750		09/30/24		1,650,000
	1,600,000	g	Alcoa Nederland Holding BV		7.000		09/30/26		1,676,000
	1,500,000	g	Alcoa Nederland Holding BV		6.125		05/15/28		1,580,625
	4,311,000	g	Arconic Corp		6.000		05/15/25		4,603,825
	4,750,000		Arconic Inc		5.125		10/01/24		5,005,312
	825,000	g	Arconic Rolled Products Corp		6.125		02/15/28		847,172
	2,955,000		Berry Global, Inc		5.125		07/15/23		2,999,621
	3,000,000	g	Berry Global, Inc		4.875		07/15/26		3,146,250
	7,075,000	g	Berry Global, Inc		5.625		07/15/27		7,419,906
	1,800,000	g	Cemex SAB de C.V.		7.750		04/16/26		1,896,750
	4,750,000		Chemours Co		7.000		05/15/25		4,773,750
	13,075,000	g	Cleveland-Cliffs, Inc		9.875		10/17/25		14,594,969

302

TIAA-CREF FUNDS – High-Yield Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	7,625,000		Commercial Metals Co		5.750	%	04/15/26	$	7,930,000
	3,000,000		Crown Americas LLC		4.750		02/01/26		3,112,500
	4,625,000	g	Element Solutions, Inc		3.875		09/01/28		4,538,281
	7,660,000	g	Enviva Partners LP		6.500		01/15/26		8,071,725
	6,000,000	g	First Quantum Minerals Ltd		7.250		05/15/22		6,005,400
	4,750,000	g	First Quantum Minerals Ltd		7.250		04/01/23		4,744,062
	6,025,000	g	First Quantum Minerals Ltd		7.500		04/01/25		5,959,388
	4,500,000	g	First Quantum Minerals Ltd		6.875		03/01/26		4,336,875
	4,250,000	g	FMG Resources Ltd		4.750		05/15/22		4,350,938
	2,650,000	g	FMG Resources Ltd		5.125		03/15/23		2,765,275
	5,000,000		Freeport-McMoRan, Inc		3.875		03/15/23		5,151,050
	9,250,000		Freeport-McMoRan, Inc		4.550		11/14/24		9,877,150
	4,000,000		Freeport-McMoRan, Inc		5.250		09/01/29		4,290,000
	3,100,000		Freeport-McMoRan, Inc		5.400		11/14/34		3,429,375
	14,250,000		Freeport-McMoRan, Inc		5.450		03/15/43		15,821,205
	6,650,000	g	GCP Applied Technologies, Inc		5.500		04/15/26		6,783,000
	3,075,000	g	Hudbay Minerals, Inc		6.125		04/01/29		3,044,250
	5,175,000	g	James Hardie International Finance DAC		4.750		01/15/25		5,284,969
	12,250,000	g	James Hardie International Finance DAC		5.000		01/15/28		12,770,625
	30,000,000	g	Nova Chemicals Corp		4.875		06/01/24		29,784,750
	3,500,000	g	NV Chemicals Corp		5.250		08/01/23		3,447,500
	16,000,000	g	OCI NV		6.625		04/15/23		16,544,000
	6,575,000	g	OCI NV		5.250		11/01/24		6,783,427
	11,875,000	g	OCI NV		4.625		10/15/25		11,845,313
	6,450,000		Olin Corp		5.125		09/15/27		6,385,500
	11,250,000	g	Owens-Brockway Glass Container, Inc		5.875		08/15/23		11,812,500
	3,006,000	g	PolyOne Corp		5.750		05/15/25		3,186,360
	6,975,000	g	Standard Industries, Inc		5.000		02/15/27		7,254,000
	7,000,000	g	Trinseo Materials Operating S.C.A		5.375		09/01/25		6,965,000
	3,400,000	g	Tronox Finance plc		5.750		10/01/25		3,349,000
	9,702,000	g	Tronox, Inc		6.500		05/01/25		10,090,080
	3,500,000	g	Tronox, Inc		6.500		04/15/26		3,500,000
	4,940,000	g	Univar Solutions USA, Inc		5.125		12/01/27		5,069,675
	4,225,000	g	US Concrete, Inc		5.125		03/01/29		4,235,562
			TOTAL MATERIALS						298,712,915
MEDIA & ENTERTAINMENT - 8.8%
	9,250,000	g	Altice Financing S.A.		5.000		01/15/28		8,984,062
	2,000,000	g	Cablevision Lightpath LLC		3.875		09/15/27		2,000,000
	275,000	g	Cablevision Lightpath LLC		5.625		09/15/28		279,427
	5,615,000	g	CBS Radio, Inc		7.250		11/01/24		4,688,525
	5,363,000	g	CCO Holdings LLC		5.375		05/01/25		5,517,186
	12,250,000	g	CCO Holdings LLC		4.500		08/15/30		12,863,051
	19,025,000	g	CCO Holdings LLC		4.250		02/01/31		19,708,023
	1,425,000	g	Cinemark USA, Inc		8.750		05/01/25		1,510,500
	5,000,000	g	Clear Channel Worldwide Holdings, Inc		5.125		08/15/27		4,801,250
	10,850,000	g	CSC Holdings LLC		5.500		04/15/27		11,420,710
	14,250,000	g	CSC Holdings LLC		7.500		04/01/28		15,742,402
	4,350,000	g	CSC Holdings LLC		6.500		02/01/29		4,850,250
	6,725,000	g	CSC Holdings LLC		5.750		01/15/30		7,146,725
	27,600,000	g	CSC Holdings LLC		4.625		12/01/30		27,730,548
	23,400,000	g	CSC Holdings LLC		3.375		02/15/31		22,657,050
	8,175,000	g	Diamond Sports Group LLC		5.375		08/15/26		5,783,813

303

TIAA-CREF FUNDS – High-Yield Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	4,030,000		DISH DBS Corp		5.000	%	03/15/23	$	4,110,600
	13,500,000		DISH DBS Corp		7.750		07/01/26		14,841,360
	17,400,000	h	DISH DBS Corp		7.375		07/01/28		17,922,000
	2,225,000	g	Entercom Media Corp		6.500		05/01/27		1,935,750
	7,525,000	g	EW Scripps Co		5.125		05/15/25		7,355,688
	7,675,000	g	Gray Escrow, Inc		7.000		05/15/27		8,320,755
	4,990,000	g	Gray Television, Inc		5.125		10/15/24		5,089,800
	9,600,000	g	Gray Television, Inc		5.875		07/15/26		9,960,000
	2,000,000	g	Intelligent Packaging Ltd		6.000		09/15/28		2,028,100
	3,225,000	g	Lamar Media Corp		3.750		02/15/28		3,208,875
	4,375,000	g	Lamar Media Corp		4.875		01/15/29		4,550,000
	4,050,000	g	Lamar Media Corp		4.000		02/15/30		4,050,000
	3,475,000	g	Match Group, Inc		4.625		06/01/28		3,579,250
	8,772,000	g	Meredith Corp		6.500		07/01/25		9,035,160
	5,938,000		Meredith Corp		6.875		02/01/26		4,958,230
	11,875,000	g	Nielsen Finance LLC		5.000		04/15/22		11,904,688
	5,300,000	g,h	PM General Purchaser LLC		9.500		10/01/28		5,497,160
	1,025,000	g	Scripps Escrow, Inc		5.875		07/15/27		989,125
	8,100,000	g	Sirius XM Radio, Inc		5.375		07/15/26		8,429,670
	19,775,000	g	Sirius XM Radio, Inc		4.125		07/01/30		20,265,222
	12,425,000	g	TEGNA, Inc		4.625		03/15/28		12,149,165
	5,325,000	g	Terrier Media Buyer, Inc		8.875		12/15/27		5,364,938
	9,325,000	g	Virgin Media Secured Finance plc		5.500		05/15/29		10,009,921
			TOTAL MEDIA & ENTERTAINMENT						331,238,979
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 2.4%
	3,900,000	g	Bausch Health Cos, Inc		5.750		08/15/27		4,138,875
	5,250,000	g	Bausch Health Cos, Inc		7.000		01/15/28		5,551,875
	3,210,000	g	Bausch Health Cos, Inc		5.000		01/30/28		3,117,713
	8,650,000	g	Bausch Health Cos, Inc		6.250		02/15/29		8,897,044
	2,625,000	g	Emergent BioSolutions, Inc		3.875		08/15/28		2,635,316
	14,600,000	g	Horizon Pharma USA, Inc		5.500		08/01/27		15,494,250
	3,000,000	g	Jaguar Holding Co II		4.625		06/15/25		3,090,000
	2,775,000	g	Jaguar Holding Co II		5.000		06/15/28		2,896,406
	8,000,000	g	Par Pharmaceutical, Inc		7.500		04/01/27		8,381,440
	4,750,000	g	Valeant Pharmaceuticals International, Inc		9.000		12/15/25		5,167,050
	4,750,000	g	Valeant Pharmaceuticals International, Inc		9.250		04/01/26		5,225,000
	6,700,000	g	Valeant Pharmaceuticals International, Inc		8.500		01/31/27		7,361,625
	406,000	g	VRX Escrow Corp		5.875		05/15/23		403,970
	15,100,000	g	VRX Escrow Corp		6.125		04/15/25		15,458,625
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						87,819,189
REAL ESTATE - 2.1%
	8,925,000	g	Cushman & Wakefield US Borrower LLC		6.750		05/15/28		9,265,489
	7,250,000	g	HAT Holdings I LLC		6.000		04/15/25		7,723,425
	3,625,000		Host Hotels & Resorts LP		3.500		09/15/30		3,476,607
	13,425,000	g	Iron Mountain, Inc		4.875		09/15/27		13,690,312
	8,100,000	g	Iron Mountain, Inc		4.500		02/15/31		8,144,671
	12,050,000		iStar, Inc		4.750		10/01/24		11,658,375
	6,500,000	g	Ladder Capital Finance Holdings LLLP		4.250		02/01/27		5,622,500
	2,937,000	g	MGM Growth Properties Operating Partnership LP		4.625		06/15/25		2,995,740
	6,900,000		Retail Properties of America, Inc		4.750		09/15/30		6,908,380
	1,900,000	g	VICI Properties LP		4.250		12/01/26		1,908,835

304

TIAA-CREF FUNDS – High-Yield Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	2,900,000	g	VICI Properties LP		4.125	%	08/15/30	$	2,856,500
			TOTAL REAL ESTATE						74,250,834
RETAILING - 4.7%
	3,050,000	g	Booz Allen Hamilton, Inc		3.875		09/01/28		3,130,977
	6,150,000	g	Camelot Finance S.A.		4.500		11/01/26		6,288,375
	2,790,000		CDW LLC		3.250		02/15/29		2,779,537
	7,050,000	g	Group 1 Automotive, Inc		4.000		08/15/28		6,926,625
	4,857,000	g	L Brands, Inc		6.875		07/01/25		5,245,560
	1,993,000	g	L Brands, Inc		9.375		07/01/25		2,286,968
	6,650,000		L Brands, Inc		5.250		02/01/28		6,433,875
	7,250,000	g	L Brands, Inc		6.625		10/01/30		7,376,875
	5,400,000	g	Lithia Motors, Inc		5.250		08/01/25		5,548,500
	8,830,000	g	Lithia Motors, Inc		4.625		12/15/27		9,116,975
	1,950,000	g,h	Lithia Motors, Inc		4.375		01/15/31		1,950,000
	2,538,000	g	Macy’s, Inc		8.375		06/15/25		2,624,114
	5,670,000		Penske Automotive Group, Inc		5.375		12/01/24		5,757,942
	9,145,000		Penske Automotive Group, Inc		5.500		05/15/26		9,433,799
	22,800,000	g	PetSmart, Inc		7.125		03/15/23		22,999,500
	7,725,000	g	PetSmart, Inc		5.875		06/01/25		7,907,310
	21,000,000	g	PetSmart, Inc		8.875		06/01/25		21,786,450
	2,199,000		QVC, Inc		4.750		02/15/27		2,258,395
	2,650,000		Sonic Automotive, Inc		6.125		03/15/27		2,736,125
	15,000,000	g	Staples, Inc		7.500		04/15/26		13,821,900
	31,700,000	g	Staples, Inc		10.750		04/15/27		25,419,438
	2,675,000	g	Summit Materials LLC		5.250		01/15/29		2,785,344
			TOTAL RETAILING						174,614,584
SOFTWARE & SERVICES - 2.0%
	2,705,000	g	Black Knight InfoServ LLC		3.625		09/01/28		2,733,741
	1,500,000	g	BY Crown Parent LLC		4.250		01/31/26		1,527,188
	6,050,000	g	Gartner, Inc		4.500		07/01/28		6,338,585
	3,600,000	g	Gartner, Inc		3.750		10/01/30		3,641,580
	12,000,000	g	Open Text Corp		5.875		06/01/26		12,480,000
	4,125,000	g	Open Text Holdings, Inc		4.125		02/15/30		4,242,315
	1,080,000	g	Presidio Holdings, Inc		4.875		02/01/27		1,094,526
	16,475,000	g	Refinitiv US Holdings, Inc		6.250		05/15/26		17,587,062
	10,600,000	g	Refinitiv US Holdings, Inc		8.250		11/15/26		11,620,250
	2,000,000	g	Sabre GLBL, Inc		5.250		11/15/23		1,955,000
	1,750,000	g	Science Applications International Corp		4.875		04/01/28		1,776,757
	5,300,000	g	SS&C Technologies, Inc		5.500		09/30/27		5,632,416
	4,275,000	g	Symantec Corp		5.000		04/15/25		4,375,163
	2,000,000	g	WEX, Inc		4.750		02/01/23		2,002,500
			TOTAL SOFTWARE & SERVICES						77,007,083
TECHNOLOGY HARDWARE & EQUIPMENT - 1.8%
	9,925,000	g	CommScope Finance LLC		8.250		03/01/27		10,322,000
	17,453,000	g	CommScope Technologies LLC		6.000		06/15/25		17,689,488
	4,000,000	g	CommScope Technologies LLC		5.000		03/15/27		3,840,000
	6,575,000	g	Dell International LLC		7.125		06/15/24		6,839,973
	4,175,000		Diebold Nixdorf, Inc		8.500		04/15/24		3,801,338
	5,000,000	g	Diebold Nixdorf, Inc		9.375		07/15/25		5,275,000

305

TIAA-CREF FUNDS – High-Yield Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	3,650,000	g	MTS Systems Corp		5.750	%	08/15/27	$	3,594,155
	550,000	g	NCR Corp		8.125		04/15/25		607,887
	5,725,000	g	NCR Corp		5.000		10/01/28		5,717,844
	4,300,000	g	NCR Corp		5.250		10/01/30		4,300,000
	5,761,000	g	Via Stat Inc		5.625		09/15/25		5,645,780
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						67,633,465
TELECOMMUNICATION SERVICES - 5.9%
	19,150,000	g	Altice France S.A.		7.375		05/01/26		20,067,285
	8,675,000	g	Altice France S.A.		8.125		02/01/27		9,453,234
	16,775,000	g	Avaya, Inc		6.125		09/15/28		17,131,469
	6,000,000		CenturyLink, Inc		6.450		06/15/21		6,157,500
	17,300,000		CenturyLink, Inc		5.800		03/15/22		17,905,500
	16,400,000		CenturyLink, Inc		7.500		04/01/24		18,361,440
	16,600,000	g	Front Range BidCo, Inc		4.000		03/01/27		16,338,135
	7,350,000	g,h	GCI LLC		4.750		10/15/28		7,445,109
	1,475,000		Hughes Satellite Systems Corp		5.250		08/01/26		1,568,161
	4,750,000		Level 3 Financing, Inc		5.375		01/15/24		4,793,700
	9,600,000		Level 3 Financing, Inc		5.250		03/15/26		9,945,120
	6,825,000	g	Level 3 Financing, Inc		4.250		07/01/28		6,929,559
	3,225,000	g,h	QualityTech LP		3.875		10/01/28		3,234,288
	4,500,000		Sprint Capital Corp		8.750		03/15/32		6,587,145
	6,900,000		Sprint Corp		7.875		09/15/23		7,905,675
	10,450,000		Sprint Corp		7.625		02/15/25		12,226,500
	9,500,000		Sprint Corp		7.625		03/01/26		11,479,657
	4,490,000	g	Switch Ltd		3.750		09/15/28		4,534,900
	9,300,000	g	Telecom Italia S.p.A		5.303		05/30/24		10,098,870
	22,000,000		T-Mobile USA, Inc		5.125		04/15/25		22,481,140
	6,050,000	g	Windstream Escrow LLC		7.750		08/15/28		5,944,125
			TOTAL TELECOMMUNICATION SERVICES						220,588,512
TRANSPORTATION - 1.6%
	10,675,000	g	Cargo Aircraft Management, Inc		4.750		02/01/28		10,780,149
	14,206,000	g	Delta Air Lines, Inc		7.000		05/01/25		15,595,631
	5,125,000	g	Delta Air Lines, Inc		4.500		10/20/25		5,259,531
	5,975,000	g	Delta Air Lines, Inc		4.750		10/20/28		6,199,063
	1,800,000	g	Meccanica Holdings USA, Inc		7.375		07/15/39		2,214,000
	19,450,000	g	Mileage Plus Holdings LLC		6.500		06/20/27		20,252,312
			TOTAL TRANSPORTATION						60,300,686
UTILITIES - 3.0%
	4,250,000		AES Corp		5.500		04/15/25		4,382,047
	17,125,000	g	Calpine Corp		5.250		06/01/26		17,811,199
	4,000,000		Clearway Energy Operating LLC		5.750		10/15/25		4,210,000
	2,400,000	g	Clearway Energy Operating LLC		4.750		03/15/28		2,490,000
	5,750,000	g	NextEra Energy Operating Partners LP		4.250		07/15/24		5,995,525
	5,300,000	g	NextEra Energy Operating Partners LP		4.250		09/15/24		5,525,250
	826,000		NRG Energy, Inc		6.625		01/15/27		873,495
	16,750,000		Pacific Gas and Electric Co		3.300		08/01/40		15,298,377
	30,950,000		Pacific Gas and Electric Co		3.500		08/01/50		27,881,428
	2,563,000	g	Pattern Energy Operations LP		4.500		08/15/28		2,659,113
	18,500,000	g	Talen Energy Supply LLC		10.500		01/15/26		14,060,000
	9,950,000	g	Talen Energy Supply LLC		7.625		06/01/28		9,950,000

306

TIAA-CREF FUNDS – High-Yield Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	600,000	g	Vistra Operations Co LLC		5.625	%	02/15/27	$	633,120
			TOTAL UTILITIES						111,769,554
			TOTAL CORPORATE BONDS						3,345,042,964
			(Cost $3,317,693,995)
			TOTAL BONDS						3,345,042,964
			(Cost $3,317,693,995)
SHARES			COMPANY
COMMON STOCKS - 0.1%
ENERGY - 0.1%
	7,963	†	Cloud Peak Energy, Inc						80
	566,082	*	Tidewater, Inc						3,798,410
			TOTAL ENERGY						3,798,490
			TOTAL COMMON STOCKS						3,798,490
			(Cost $10,719,600)
PRINCIPAL			ISSUER
SHORT-TERM INVESTMENTS - 4.7%
GOVERNMENT AGENCY DEBT - 1.2%
$	48,619,000		Federal Home Loan Bank (FHLB)		0.075		10/23/20		48,617,217
			TOTAL GOVERNMENT AGENCY DEBT						48,617,217
TREASURY DEBT - 3.5%
	74,273,000		United States Cash Management Bill		0.065-0.070		10/13/20		74,271,298
	55,285,000		United States Cash Management Bill		0.115		11/03/20		55,280,297
			TOTAL TREASURY DEBT						129,551,595
			TOTAL SHORT-TERM INVESTMENTS						178,168,812
			(Cost $178,167,272)
			TOTAL INVESTMENTS - 100.3%						3,743,823,730
			(Cost $3,739,788,773)
			OTHER ASSETS & LIABILITIES, NET - (0.3)%						(12,513,486	)
			NET ASSETS - 100.0%					$	3,731,310,244

	Abbreviation(s):
LIBOR	London Interbank Offered Rate
M	Month
*	Non-income producing
†	Security is categorized as Level 3 in the fair value hierarchy.

307

TIAA-CREF FUNDS – High-Yield Fund

‡	Perpetual security
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933, as amended. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 9/30/2020, the aggregate value of these securities is $2,112,529,797 or 56.6% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.
i	Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.
o	Payment in Kind Bond
q	In default

308

TIAA-CREF FUNDS – Inflation-Linked Bond Fund

TIAA-CREF FUNDS

INFLATION-LINKED BOND FUND

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2020

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
BONDS - 99.4%
GOVERNMENT BONDS -  99.4%
AGENCY SECURITIES - 1.2%
$	3,931,358		Crowley Conro LLC		4.181	%	08/15/43	$	4,706,124
	1,877,980		HNA LLC		2.369		09/18/27		1,988,648
	9,245,000		Montefiore Medical Center		2.895		04/20/32		10,024,074
	3,000,000		Private Export Funding Corp (PEFCO)		3.250		06/15/25		3,352,378
	3,618,421		Reliance Industries Ltd		2.444		01/15/26		3,800,964
	15,000,000		Ukraine Government AID International Bonds		1.471		09/29/21		15,186,680
			TOTAL AGENCY SECURITIES						39,058,868
MORTGAGE BACKED - 2.9%
	8,000,000		Federal Home Loan Bank (FHLB)		0.375		09/04/25		7,997,142
	11,062,224		Government National Mortgage Association (GNMA)		3.600		09/15/31		12,244,827
	5,538,955		GNMA		3.700		10/15/33		6,115,540
	724,335		GNMA		2.490		06/15/35		767,200
	1,599,518		GNMA		3.380		07/15/35		1,747,423
	1,505,961		GNMA		3.870		10/15/36		1,675,769
	5,456,707		GNMA		3.940		03/15/37		6,138,226
	20,295,401		GNMA		1.730		07/15/37		20,878,846
	22,765,044		GNMA		4.250		09/15/38		24,717,299
	13,744,711		GNMA		2.750		01/15/45		14,964,144
			TOTAL MORTGAGE BACKED						97,246,416
U.S. TREASURY SECURITIES - 95.3%
	131,640,435	k	United States Treasury Inflation Indexed Bonds		0.125		01/15/22		133,710,173
	115,869,306	k	United States Treasury Inflation Indexed Bonds		0.125		04/15/22		117,903,807
	130,270,773	k	United States Treasury Inflation Indexed Bonds		0.125		07/15/22		133,624,228
	136,941,095	k	United States Treasury Inflation Indexed Bonds		0.125		01/15/23		141,089,447
	128,281,620	k	United States Treasury Inflation Indexed Bonds		0.625		04/15/23		134,154,513
	140,817,270	k	United States Treasury Inflation Indexed Bonds		0.375		07/15/23		147,679,362
	133,253,405	k	United States Treasury Inflation Indexed Bonds		0.625		01/15/24		141,579,141
	105,689,628	k	United States Treasury Inflation Indexed Bonds		0.500		04/15/24		112,193,394
	120,808,645	k	United States Treasury Inflation Indexed Bonds		0.125		07/15/24		127,776,377
	98,446,725	k	United States Treasury Inflation Indexed Bonds		0.125		10/15/24		104,476,587
	134,323,878	k	United States Treasury Inflation Indexed Bonds		0.250		01/15/25		143,266,560
	104,935,593	k	United States Treasury Inflation Indexed Bonds		2.375		01/15/25		121,784,724
	15,043,950	k	United States Treasury Inflation Indexed Bonds		0.125		04/15/25		16,007,507
	75,567,462	k	United States Treasury Inflation Indexed Bonds		0.375		07/15/25		82,018,738
	118,603,934	k	United States Treasury Inflation Indexed Bonds		0.625		01/15/26		130,705,242
	64,074,555	k	United States Treasury Inflation Indexed Bonds		2.000		01/15/26		75,461,554
	95,246,498	k	United States Treasury Inflation Indexed Bonds		0.125		07/15/26		103,247,576
	110,729,430	k	United States Treasury Inflation Indexed Bonds		0.375		01/15/27		121,799,490
	45,292,427	k	United States Treasury Inflation Indexed Bonds		2.375		01/15/27		55,834,416
	86,914,592	k	United States Treasury Inflation Indexed Bonds		0.375		07/15/27		96,583,841
	137,686,464	k	United States Treasury Inflation Indexed Bonds		0.500		01/15/28		154,450,866
	68,037,318	k	United States Treasury Inflation Indexed Bonds		1.750		01/15/28		82,833,663

309

TIAA-CREF FUNDS – Inflation-Linked Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	52,597,898	k	United States Treasury Inflation Indexed Bonds		3.625	%	04/15/28	$	72,087,885
	67,979,816	k	United States Treasury Inflation Indexed Bonds		0.750		07/15/28		78,281,237
	104,032,344	k	United States Treasury Inflation Indexed Bonds		0.875		01/15/29		121,113,697
	41,368,281	k	United States Treasury Inflation Indexed Bonds		2.500		01/15/29		54,011,462
	117,499,358	k	United States Treasury Inflation Indexed Bonds		3.875		04/15/29		168,838,774
	76,969,760	k	United States Treasury Inflation Indexed Bonds		0.250		07/15/29		86,049,786
	25,172,250	k	United States Treasury Inflation Indexed Bonds		0.125		01/15/30		27,798,293
	54,564,830	k	United States Treasury Inflation Indexed Bonds		0.125		07/15/30		60,623,089
	35,757,260	k	United States Treasury Inflation Indexed Bonds		3.375		04/15/32		54,214,850
			TOTAL U.S. TREASURY SECURITIES						3,201,200,279
			TOTAL GOVERNMENT BONDS						3,337,505,563
			(Cost $3,069,412,471)
			TOTAL BONDS						3,337,505,563
			(Cost $3,069,412,471)
SHORT-TERM INVESTMENTS - 0.5%
GOVERNMENT AGENCY DEBT - 0.2%
	7,855,000		Federal Home Loan Bank (FHLB)		0.090		10/30/20		7,854,620
			TOTAL GOVERNMENT AGENCY DEBT						7,854,620
REPURCHASE AGREEMENT - 0.3%
	9,270,000	r	Fixed Income Clearing Corp (FICC)		0.070		10/01/20		9,270,000
			TOTAL REPURCHASE AGREEMENT						9,270,000
			TOTAL SHORT-TERM INVESTMENTS						17,124,620
			(Cost $17,124,430)
			TOTAL INVESTMENTS - 99.9%						3,354,630,183
			(Cost $3,086,536,901)
			OTHER ASSETS & LIABILITIES, NET - 0.1%						1,840,111
			NET ASSETS - 100.0%					$	3,356,470,294

k	Principal amount for interest accrual purposes is periodically adjusted based on changes in the Consumer Price Index.
r	Agreement with Fixed Income Clearing Corporation, 0.070% dated 9/30/20 to be repurchased at $9,270,000 on 10/01/20, collateralized by U.S. Treasury Notes valued at $9,455,487.

310

TIAA-CREF FUNDS – Short Duration Impact Bond Fund

TIAA-CREF FUNDS

SHORT DURATION IMPACT BOND FUND

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2020

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
BANK LOAN OBLIGATIONS - 1.4%
UTILITIES - 1.4%
$	425,561	i	ExGen Renewables IV LLC	LIBOR 3 M + 3.000%		4.000	%	11/28/24	$	424,366
			TOTAL UTILITIES							424,366
			TOTAL BANK LOAN OBLIGATIONS							424,366
			(Cost $422,452)
BONDS - 96.8%
CORPORATE BONDS - 43.0%
AUTOMOBILES & COMPONENTS - 0.8%
	250,000	g	Harley-Davidson Financial Services, Inc			4.050		02/04/22		258,351
			TOTAL AUTOMOBILES & COMPONENTS							258,351
BANKS - 12.1%
	250,000		Bank of America Corp			0.981		09/25/25		249,939
	250,000	g	BNP Paribas S.A.			2.219		06/09/26		257,817
	250,000		Citigroup, Inc			1.678		05/15/24		256,087
	500,000		HSBC Holdings plc			3.033		11/22/23		521,536
	450,000	g	ING Groep NV			1.400		07/01/26		455,033
	250,000	g	Intesa Sanpaolo S.p.A			6.500		02/24/21		255,179
	250,000		Lloyds Banking Group plc			4.500		11/04/24		272,911
	500,000	i	M&T Bank Corp	LIBOR 3 M + 0.680%		0.925		07/26/23		504,149
	250,000		Royal Bank of Scotland Group plc			2.359		05/22/24		256,498
	350,000	g	UniCredit S.p.A			2.569		09/22/26		345,690
	400,000	g	USAA Capital Corp			1.500		05/01/23		410,172
			TOTAL BANKS							3,785,011
CAPITAL GOODS - 2.5%
	250,000		CNH Industrial Capital LLC			4.875		04/01/21		254,824
	500,000		CNH Industrial Capital LLC			4.200		01/15/24		537,135
			TOTAL CAPITAL GOODS							791,959
CONSUMER SERVICES - 0.8%
	260,000	i	Nature Conservancy	LIBOR 3 M + 1.080%		1.331		02/01/24		258,141
			TOTAL CONSUMER SERVICES							258,141
DIVERSIFIED FINANCIALS - 5.0%
	250,000		Century Housing Corp			3.995		11/01/21		251,807
	175,000		Morgan Stanley			2.188		04/28/26		183,186
	260,000	g	NongHyup Bank			1.250		07/20/25		262,244
	250,000		Reinvestment Fund, Inc			3.477		02/15/23		255,562
	350,000	g	UBS Group AG.			1.008		07/30/24		350,765
	250,000	g	WLB Asset II Pte Ltd			4.000		01/14/24		248,623
			TOTAL DIVERSIFIED FINANCIALS							1,552,187

311

TIAA-CREF FUNDS – Short Duration Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
ENERGY - 2.9%
$	500,000	g	Aker BP ASA			2.875	%	01/15/26	$	495,056
	150,000		EQT Corp			7.875		02/01/25		166,267
	250,000	i	Valero Energy Corp	LIBOR 3 M + 1.150%		1.403		09/15/23		249,143
			TOTAL ENERGY							910,466
INSURANCE - 0.8%
	250,000		Prudential Financial, Inc			1.500		03/10/26		260,369
			TOTAL INSURANCE							260,369
MATERIALS - 0.9%
	275,000		DuPont de Nemours, Inc			2.169		05/01/23		277,559
			TOTAL MATERIALS							277,559
MEDIA & ENTERTAINMENT - 2.8%
	125,000		Alphabet, Inc			0.450		08/15/25		124,245
	500,000	g	Mosaic Solar Loan Trust			1.440		08/20/46		496,234
	250,000	g	Schlumberger Finance Canada Ltd			2.200		11/20/20		250,650
			TOTAL MEDIA & ENTERTAINMENT							871,129
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 1.6%
	500,000	g,i	AbbVie, Inc	LIBOR 3 M + 0.650%		0.897		11/21/22		502,294
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES							502,294
REAL ESTATE - 2.1%
	500,000		Alexandria Real Estate Equities, Inc			4.000		01/15/24		549,794
	100,000	g	HAT Holdings I LLC			5.250		07/15/24		104,207
			TOTAL REAL ESTATE							654,001
SOFTWARE & SERVICES - 1.6%
	500,000		Microsoft Corp			2.400		02/06/22		513,843
			TOTAL SOFTWARE & SERVICES							513,843
TRANSPORTATION - 2.5%
	250,000		Delta Air Lines, Inc			7.375		01/15/26		262,032
	250,000		Delta Air Lines, Inc			2.000		06/10/28		241,546
	300,000		Delta Air Lines, Inc			2.500		06/10/28		269,450
			TOTAL TRANSPORTATION							773,028
UTILITIES - 6.6%
	300,000		Avangrid, Inc			3.200		04/15/25		330,119
	250,000	g	Azure Power Energy Ltd			5.500		11/03/22		254,683
	300,000		Eversource Energy			0.800		08/15/25		298,432
	250,000	g	Hanwha Energy USA Holdings Corp			2.375		07/30/22		256,946
	300,000	g	Korea Hydro & Nuclear Power Co Ltd			3.750		07/25/23		325,224
	250,000		National Fuel Gas Co			4.900		12/01/21		258,818
	300,000		National Fuel Gas Co			5.500		01/15/26		327,419
			TOTAL UTILITIES							2,051,641
			TOTAL CORPORATE BONDS							13,459,979
			(Cost $13,153,497)

312

TIAA-CREF FUNDS – Short Duration Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
GOVERNMENT BONDS - 38.1%
AGENCY SECURITIES - 6.5%
$	250,000		Federal Home Loan Mortgage Corp (FHLMC)			0.375	%	05/05/23	$	251,056
	250,000		FHLMC			1.500		02/12/25		262,066
	500,000		NCUA Guaranteed Notes			3.450		06/12/21		508,344
	250,000		Overseas Private Investment Corp (OPIC)			1.790		10/15/29		263,644
	250,000		United States International Development Finance Corp			1.050		10/15/29		253,060
	250,000		US Department of Housing and Urban Development (HUD)			2.618		08/01/23		265,978
	231,819	i	Washington Aircraft 2 Co Ltd	LIBOR 3 M + 0.430%		0.663		06/26/24		228,708
			TOTAL AGENCY SECURITIES							2,032,856
FOREIGN GOVERNMENT BONDS - 9.1%
	250,000	g	Caisse d’Amortissement de la Dette Sociale			0.375		09/23/25		248,270
	500,000	g	European Stability Mechanism			1.375		09/11/24		519,331
	250,000		International Bank for Reconstruction & Development			0.625		04/22/25		252,255
	500,000	g	International Development Association			2.750		04/24/23		531,026
	235,000	g	Korea Electric Power Corp			1.125		06/15/25		236,140
	250,000	g	Nacional Financiera SNC			3.375		11/05/20		250,087
	250,000	g	Nederlandse Waterschapsbank NV			1.750		01/15/25		263,510
	500,000	g	Perusahaan Penerbit SBSN Indonesia III			3.750		03/01/23		530,650
			TOTAL FOREIGN GOVERNMENT BONDS							2,831,269
MORTGAGE BACKED - 1.6%
	500,000		Federal National Mortgage Association (FNMA)			0.250		07/10/23		499,841
			TOTAL MORTGAGE BACKED							499,841
MUNICIPAL BONDS - 6.0%
	250,000		California Health Facilities Financing Authority			1.896		06/01/21		252,170
	130,000	g	California Municipal Finance Authority			4.250		11/01/23		129,514
	150,000	i	Connecticut Housing Finance Authority	SOFR + 0.650%		0.730		05/15/49		149,950
	95,000		County of Saline AR			3.550		06/01/42		99,509
	120,000		Grant County Public Utility District No 2 Priest Rapids Hydroelectric Project			1.794		01/01/22		122,057
	225,000		Massachusetts Water Resources Authority			1.702		08/01/21		227,324
	425,000		Sustainable Energy Utility, Inc			1.550		09/15/21		426,148
	250,000	g	Warm Springs Reservation Confederated Tribe			2.550		11/01/20		250,175
	200,000	g	Warm Springs Reservation Confederated Tribe			3.050		11/01/24		208,818
			TOTAL MUNICIPAL BONDS							1,865,665
U.S. TREASURY SECURITIES - 14.9%
	400,000		United States Treasury Note			2.500		01/31/21		403,094
	250,000		United States Treasury Note			1.750		07/31/21		253,320
	285,000		United States Treasury Note			1.625		12/31/21		290,210
	860,000		United States Treasury Note			0.125		06/30/22		859,799
	910,000		United States Treasury Note			0.125		08/31/22		909,751
	285,000		United States Treasury Note			0.125		09/15/23		284,733
	1,500,000		United States Treasury Note			2.625		12/31/23		1,618,711
	45,000		United States Treasury Note			0.250		09/30/25		44,940
			TOTAL U.S. TREASURY SECURITIES							4,664,558
			TOTAL GOVERNMENT BONDS							11,894,189
			(Cost $11,582,010)

313

TIAA-CREF FUNDS – Short Duration Impact Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
STRUCTURED ASSETS - 15.7%
ASSET BACKED - 9.5%
$	230,027	g	HERO Funding Trust		4.050	%	09/20/41	$	238,477
			Series - 2016 1A (Class A)
	356,339	g	HERO Funding Trust		3.910		09/20/42		368,147
			Series - 2016 3A (Class A2)
	233,750	g	HERO Funding Trust		2.720		09/20/57		234,155
			Series - 2020 1A (Class A)
	91,881	g,i	Invitation Homes Trust		1.151		07/17/37		91,895
			Series - 2018 SFR3 (Class A)
	147,000	g,i	Invitation Homes Trust		1.801		01/17/38		147,000
			Series - 2018 SFR4 (Class D)
	237,563	g	Mosaic Solar Loan Trust		2.100		04/20/46		242,700
			Series - 2020 1A (Class A)
	92,484	g	SolarCity LMC		4.800		09/20/48		95,889
			Series - 2016 A (Class A)
	491,441	g	Sunrun Atlas Issuer LLC		3.610		02/01/55		514,790
			Series - 2019 2 (Class A)
	446,153	g	Sunrun Callisto Issuer LLC		3.980		06/30/54		457,211
			Series - 2019 1A (Class A)
	124,942	g	Tesla Auto Lease Trust		3.710		08/20/21		126,115
			Series - 2018 B (Class A)
	204,645	g	Tesla Auto Lease Trust		2.130		04/20/22		206,923
			Series - 2019 A (Class A2)
	250,000	g	Tesla Auto Lease Trust		2.200		11/21/22		256,941
			Series - 2019 A (Class A4)
			TOTAL ASSET BACKED						2,980,243
OTHER MORTGAGE BACKED - 6.2%
	61,540	i	Connecticut Avenue Securities		3.148		07/25/24		53,774
			Series - 2014 C03 (Class 1M2)
	59,509	g,i	Connecticut Avenue Securities		0.948		01/25/40		59,262
			Series - 2020 R01 (Class 1M1)
	180,000	g,i	DBUBS Mortgage Trust		5.670		07/10/44		165,696
			Series - 2011 LC2A (Class D)
	275,000	g	GRACE Mortgage Trust		3.369		06/10/28		276,672
			Series - 2014 GRCE (Class A)
	200,000		GS Mortgage Securities Trust		2.922		05/10/49		211,941
			Series - 2016 GS2 (Class AAB)
	250,000	g,i	Morgan Stanley Capital I Trust		5.675		09/15/47		250,724
			Series - 2011 C1 (Class D)
	250,000	g,i	Natixis Commercial Mortgage Securities Trust		1.652		07/15/36		247,504
			Series - 2019 MILE (Class A)
	250,000	g,i	Natixis Commercial Mortgage Securities Trust		4.402		07/15/36		230,265
			Series - 2019 MILE (Class F)
	33,321	g,i	OBX Trust		0.798		06/25/57		33,271
			Series - 2018 1 (Class A2)
	61,037	g,i	Sequoia Mortgage Trust		3.500		02/25/50		61,856
			Series - 2020 1 (Class A4)

314

TIAA-CREF FUNDS – Short Duration Impact Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	19,629	g,i	Structured Agency Credit Risk Debt Note (STACR)		4.140	%	08/25/48	$	19,457
			Series - 2018 SPI3 (Class M2)
	71,194	g,i	STACR		1.248		07/27/50		71,123
			Series - 2020 HQA2 (Class M1)
	250,000	g,i	WFRBS Commercial Mortgage Trust		5.174		02/15/44		250,446
			Series - 2011 C2 (Class B)
			TOTAL OTHER MORTGAGE BACKED						1,931,991
			TOTAL STRUCTURED ASSETS						4,912,234
			(Cost $4,894,764)
			TOTAL BONDS						30,266,402
			(Cost $29,630,271)
SHORT-TERM INVESTMENTS - 1.7%
REPURCHASE AGREEMENT - 1.7%
	535,000	r	Fixed Income Clearing Corp (FICC)		0.070		10/01/20		535,000
			TOTAL REPURCHASE AGREEMENT						535,000
			TOTAL SHORT-TERM INVESTMENTS						535,000
			(Cost $535,000)
			TOTAL INVESTMENTS - 99.9%						31,225,768
			(Cost $30,587,723)
			OTHER ASSETS & LIABILITIES, NET - 0.1%						29,447
			NET ASSETS - 100.0%					$	31,255,215

	Abbreviation(s):
LIBOR	London Interbank Offered Rate
M	Month
SOFR	Secure Overnight Financing Rate

g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933, as amended. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 9/30/2020, the aggregate value of these securities is $13,343,208 or 42.7% of net assets.
i	Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.
r	Agreement with Fixed Income Clearing Corp (FICC), 0.070% dated 9/30/20 to be repurchased at $535,000 on 10/01/20, collateralized by U.S. Treasury Notes valued at $545,700.

315

TIAA-CREF FUNDS – Short-Term Bond Fund

TIAA-CREF FUNDS

SHORT-TERM BOND FUND

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2020

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
BANK LOAN OBLIGATIONS - 1.7%
CAPITAL GOODS - 0.1%
	693,000	i	American Builders & Contractors Supply Co, Inc	LIBOR 1 M + 2.000%		2.147	%	01/15/27	$	673,367
	1,346,625	i	Gardner Denver, Inc	LIBOR 1 M + 2.750%		2.897		03/01/27		1,326,143
			TOTAL CAPITAL GOODS							1,999,510
COMMERCIAL & PROFESSIONAL SERVICES - 0.0%
	358,782	i	Prime Security Services Borrower LLC	LIBOR 1 and 3 M + 3.250%		4.250		09/23/26		355,130
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES							355,130
CONSUMER SERVICES - 0.2%
	1,943,891	i	Hilton Worldwide Finance LLC	LIBOR 1 M + 1.750%		1.898		06/22/26		1,873,192
	1,960,000	i	Wyndham Hotels & Resorts, Inc	LIBOR 1 M + 1.750%		1.897		05/30/25		1,887,108
	1,040,602	i	YUM! Brands	LIBOR 1 M + 1.750%		1.900		04/03/25		1,014,368
			TOTAL CONSUMER SERVICES							4,774,668
DIVERSIFIED FINANCIALS - 0.1%
	1,500,000	i	Reynolds Group Holdings, Inc	Prime 1 M + 1.750%		6.000		02/06/23		1,479,945
			TOTAL DIVERSIFIED FINANCIALS							1,479,945
HEALTH CARE EQUIPMENT & SERVICES - 0.1%
	975,150	i	HCA, Inc	LIBOR 1 M + 1.750%		1.897		03/13/25		969,748
	609,010	i	HCA, Inc	LIBOR 1 M + 1.750%		1.897		03/17/26		605,709
			TOTAL HEALTH CARE EQUIPMENT & SERVICES							1,575,457
MATERIALS - 0.1%
	1,300,000	i	Asplundh Tree Expert LLC	LIBOR 1 M + 2.500%		2.655		09/07/27		1,297,569
	310,263	i	WR Grace & Co-Conn	LIBOR 3 M + 1.750%		1.970		04/03/25		301,809
	180,526	i	WR Grace & Co-Conn	LIBOR 3 M + 1.750%		1.970		04/03/25		175,607
			TOTAL MATERIALS							1,774,985
MEDIA & ENTERTAINMENT - 0.4%
	3,485,240	i	Charter Communications Operating LLC	LIBOR 1 M + 1.750%		1.900		04/30/25		3,419,473
	1,390,711	i	CSC Holdings LLC	LIBOR 1 M + 2.250%		2.402		07/17/25		1,343,023
	1,319,367	i	Nielsen Finance LLC	LIBOR 1 M + 2.000%		2.154		10/04/23		1,291,661
	1,290,299	i	Outfront Media Capital LLC	LIBOR 1 M + 1.750%		1.901		11/18/26		1,256,828
	241,546	i	Univision Communications, Inc	LIBOR 1 M + 2.750%		3.750		03/15/24		232,015
			TOTAL MEDIA & ENTERTAINMENT							7,543,000
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.1%
	976,608	i	Elanco Animal Health Inc	LIBOR 1 M + 1.750%		1.905		08/01/27		948,121
	1,989,501	i	Jaguar Holding Co II	LIBOR 1 M + 2.500%		3.500		08/18/22		1,980,449
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES							2,928,570
SOFTWARE & SERVICES - 0.2%
	947,378	i	IQVIA, Inc	LIBOR 1 M + 1.750%		1.897		03/07/24		931,983

316

TIAA-CREF FUNDS – Short-Term Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	1,026,375	i	IQVIA, Inc	LIBOR 3 M + 1.750%		2.058	%	06/11/25	$	1,010,723
	1,886,723	i	Open Text Corp	LIBOR 1 M + 1.750%		1.911		05/30/25		1,870,611
			TOTAL SOFTWARE & SERVICES							3,813,317
TECHNOLOGY HARDWARE & EQUIPMENT - 0.2%
	2,697,720	i	Dell International LLC	LIBOR 1 M + 2.000%		2.750		09/19/25		2,683,503
	1,630,190	i	Western Digital Corp	LIBOR 1 M + 1.750%		1.906		04/29/23		1,614,475
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT							4,297,978
TELECOMMUNICATION SERVICES - 0.1%
	997,500	i	T-Mobile USA, Inc	LIBOR 1 M + 3.000%		3.147		04/01/27		995,984
			TOTAL TELECOMMUNICATION SERVICES							995,984
TRANSPORTATION - 0.1%
	1,919,192	i	American Airlines, Inc	LIBOR 1 M + 1.750%		1.896		01/29/27		1,392,623
	1,831,975	i	Avis Budget Car Rental LLC	LIBOR 1 M + 2.250%		2.400		08/06/27		1,610,306
			TOTAL TRANSPORTATION							3,002,929
UTILITIES - 0.0%
	568,627	i	Vistra Operations Co LLC	LIBOR 1 M + 1.750%		1.897		12/31/25		559,603
			TOTAL UTILITIES							559,603
			TOTAL BANK LOAN OBLIGATIONS							35,101,076
			(Cost $36,302,823)
BONDS - 96.0%
CORPORATE BONDS - 34.1%
BANKS - 12.6%
	2,000,000	g	Banco Bradesco S.A.			2.850		01/27/23		2,027,500
	2,100,000	g	Banco de Credito del Peru			2.700		01/11/25		2,186,100
	3,575,000	g	Banco del Estado de Chile			2.668		01/08/21		3,583,937
	2,375,000	g	Banco del Estado de Chile			2.704		01/09/25		2,496,742
	2,500,000	g	Banco do Brasil SA/Cayman			4.750		03/20/24		2,631,250
	750,000	g	Banco Santander Mexico S.A.			4.125		11/09/22		789,375
	2,000,000	g	Banco Santander Mexico S.A. Institucion de Banca Multiple Grupo Financiero Santand			5.375		04/17/25		2,224,000
	5,125,000		Bancolombia S.A.			3.000		01/29/25		5,133,302
	10,000,000		Bank of America Corp			2.328		10/01/21		10,000,000
	10,000,000		Bank of America Corp			3.550		03/05/24		10,651,470
	10,000,000		Bank of America Corp			1.486		05/19/24		10,171,183
	8,000,000		Bank of America Corp			0.981		09/25/25		7,998,058
	6,200,000	g	Bank of Montreal			2.100		06/15/22		6,383,878
	6,160,000	g	Canadian Imperial Bank of Commerce			3.150		06/27/21		6,290,493
	1,720,000		Citigroup, Inc			4.500		01/14/22		1,807,611
	1,300,000		Citigroup, Inc			2.312		11/04/22		1,325,365
	3,000,000		Citigroup, Inc			3.142		01/24/23		3,095,082
	9,000,000		Citigroup, Inc			2.876		07/24/23		9,338,414
	15,000,000		Citigroup, Inc			1.678		05/15/24		15,365,240
	3,000,000		Citizens Bank NA			2.250		10/30/20		3,001,283
	1,825,000	g	Credicorp Ltd			2.750		06/17/25		1,847,813
	10,000,000	g	Dexia Credit Local S.A.			2.875		01/29/22		10,321,507

317

TIAA-CREF FUNDS – Short-Term Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	4,000,000	g	Dexia Credit Local S.A.			2.375	%	09/20/22	$	4,151,240
	1,555,000		Discover Bank			3.200		08/09/21		1,586,269
	650,000		Discover Bank			3.350		02/06/23		687,543
	5,000,000	g	DNB Boligkreditt AS.			3.250		06/28/23		5,371,572
	16,000,000	g	HSBC Bank Canada			1.650		09/10/22		16,374,369
	1,485,000		Huntington National Bank			3.125		04/01/22		1,542,006
	5,000,000	g	Itau Unibanco Holding S.A.			3.250		01/24/25		5,085,000
	1,445,000		JPMorgan Chase & Co			3.200		01/25/23		1,535,172
	8,700,000		JPMorgan Chase & Co			3.207		04/01/23		9,039,562
	10,000,000		JPMorgan Chase & Co			2.776		04/25/23		10,341,007
	12,000,000		JPMorgan Chase & Co			1.514		06/01/24		12,259,579
	3,000,000		JPMorgan Chase & Co			0.653		09/16/24		3,000,907
	5,000,000		JPMorgan Chase & Co			4.023		12/05/24		5,498,578
	6,320,000		KeyBank NA			3.300		02/01/22		6,568,523
	3,000,000		Mitsubishi UFJ Financial Group, Inc			2.623		07/18/22		3,109,243
	5,000,000		Mitsubishi UFJ Financial Group, Inc			0.848		09/15/24		5,001,512
	2,000,000	g	NBK SPC Ltd			2.750		05/30/22		2,045,996
	6,050,000		PNC Bank NA			2.450		11/05/20		6,051,400
	1,945,000		PNC Bank NA			2.500		01/22/21		1,954,678
	2,000,000		Royal Bank of Canada			2.800		04/29/22		2,074,784
	1,625,000		Royal Bank of Scotland Group plc			2.359		05/22/24		1,667,235
	2,500,000		Santander UK plc			2.125		11/03/20		2,504,155
	5,000,000	g	Skandinaviska Enskilda Banken AB			0.550		09/01/23		5,001,866
	3,000,000	g	State Bank of India			4.000		01/24/22		3,081,919
	5,000,000	g	Sumitomo Mitsui Trust Bank Ltd			0.800		09/12/23		5,009,161
	2,100,000	g	Svenska Handelsbanken AB			0.625		06/30/23		2,109,574
	1,000,000		Synchrony Bank			3.000		06/15/22		1,032,546
	3,000,000		Toronto-Dominion Bank			0.750		06/12/23		3,017,182
	5,000,000		Toronto-Dominion Bank			0.450		09/11/23		4,990,414
	3,000,000		Truist Financial Corp			2.150		02/01/21		3,014,059
	1,720,000		Truist Financial Corp			2.900		03/03/21		1,735,501
	1,680,000		Truist Financial Corp			3.750		12/06/23		1,840,406
	2,100,000	g,i	United Overseas Bank Ltd	LIBOR 3 M + 0.480%		0.736		04/23/21		2,102,718
	3,000,000		Westpac Banking Corp			2.800		01/11/22		3,095,564
			TOTAL BANKS							262,150,843
CAPITAL GOODS - 1.1%
	1,500,000		Air Lease Corp			3.375		06/01/21		1,517,889
	450,000		Air Lease Corp			2.250		01/15/23		450,938
	4,400,000	g	BOC Aviation Ltd			3.500		10/10/24		4,642,000
	1,385,000	g	Gold Fields Orogen Holding BVI Ltd			4.875		10/07/20		1,381,842
	3,000,000		Honeywell International, Inc			0.483		08/19/22		3,004,740
	2,000,000		Ingersoll-Rand Global Holding Co Ltd			2.900		02/21/21		2,019,201
	42,000		Johnson Controls International plc			3.750		12/01/21		43,020
	1,580,000		L3Harris Technologies, Inc			4.950		02/15/21		1,588,606
	2,000,000		Northrop Grumman Corp			2.080		10/15/20		2,001,318
	3,134,000		Roper Technologies, Inc			3.000		12/15/20		3,143,463
	3,000,000	g	TSMC Global Ltd			0.750		09/28/25		2,972,621
	272,000		United Technologies Corp			3.650		08/16/23		293,859
			TOTAL CAPITAL GOODS							23,059,497
COMMERCIAL & PROFESSIONAL SERVICES - 0.1%
	2,000,000		ADT Corp			4.125		06/15/23		2,096,250
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES							2,096,250

318

TIAA-CREF FUNDS – Short-Term Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
CONSUMER DURABLES & APPAREL - 0.2%
$	3,200,000		Lennar Corp		4.750	%	04/01/21	$	3,228,000
			TOTAL CONSUMER DURABLES & APPAREL						3,228,000
CONSUMER SERVICES - 0.1%
	2,000,000		Sands China Ltd		4.600		08/08/23		2,132,220
			TOTAL CONSUMER SERVICES						2,132,220
DIVERSIFIED FINANCIALS - 6.4%
	2,000,000		AerCap Ireland Capital DAC		3.950		02/01/22		2,024,753
	7,000,000		AerCap Ireland Capital DAC		3.150		02/15/24		6,941,100
	2,050,000		American Express Co		2.750		05/20/22		2,120,061
	3,000,000		American Honda Finance Corp		0.875		07/07/23		3,024,462
	1,000,000		Ameriprise Financial, Inc		3.000		03/22/22		1,037,600
	750,000		Australia & New Zealand Banking Group Ltd		2.625		05/19/22		778,378
	1,505,000		Bank of Montreal		2.900		03/26/22		1,561,341
	1,325,000	g	BBVA Bancomer S.A.		1.875		09/18/25		1,294,525
	4,000,000		Capital One Bank USA NA		3.375		02/15/23		4,227,152
	3,000,000		Capital One Financial Corp		2.400		10/30/20		3,000,000
	1,355,000		Capital One Financial Corp		4.750		07/15/21		1,401,967
	3,000,000		Credit Suisse AG.		1.000		05/05/23		3,031,140
	5,000,000		Deutsche Bank AG.		4.250		02/04/21		5,053,071
	5,000,000		Deutsche Bank AG.		2.222		09/18/24		5,032,819
	3,000,000		Discover Financial Services		3.850		11/21/22		3,198,924
	1,200,000	g	Federation des Caisses Desjardins du Quebec		2.250		10/30/20		1,201,889
	16,800,000	g	Federation des Caisses Desjardins du Quebec		1.950		09/26/22		17,310,136
	4,500,000		Ford Motor Credit Co LLC		3.200		01/15/21		4,490,494
	1,300,000		GE Capital International Funding Co		2.342		11/15/20		1,302,909
	2,000,000		General Motors Financial Co, Inc		3.450		01/14/22		2,051,133
	2,170,000		General Motors Financial Co, Inc		3.150		06/30/22		2,228,991
	5,000,000		General Motors Financial Co, Inc		3.550		07/08/22		5,170,776
	5,000,000		General Motors Financial Co, Inc		1.700		08/18/23		5,018,750
	3,910,000		General Motors Financial Co, Inc		3.950		04/13/24		4,136,370
	4,000,000		Goldman Sachs Group, Inc		2.875		02/25/21		4,032,895
	5,000,000		Goldman Sachs Group, Inc		2.876		10/31/22		5,119,501
	6,105,000		Morgan Stanley		3.125		01/23/23		6,455,750
	7,000,000	g	Nationwide Building Society		1.700		02/13/23		7,204,362
	1,125,000	g	REC Ltd		4.750		05/19/23		1,183,738
	818,000		Shire Acquisitions Investments Ireland DAC		2.400		09/23/21		832,766
	300,000	g	State Street Corp		2.825		03/30/23		310,398
	2,000,000		Toyota Motor Credit Corp		0.500		08/14/23		2,000,483
	5,000,000		Toyota Motor Credit Corp		1.350		08/25/23		5,130,400
	4,725,000	g	UBS Group AG.		1.008		07/30/24		4,735,331
	5,000,000		Unilever Capital Corp		3.000		03/07/22		5,190,816
	2,425,000		Wells Fargo & Co		1.654		06/02/24		2,469,574
			TOTAL DIVERSIFIED FINANCIALS						131,304,755
ENERGY - 2.0%
	1,700,000		BP Capital Markets America, Inc		2.520		09/19/22		1,758,252
	5,000,000		Chevron Corp		1.141		05/11/23		5,096,352
	5,000,000		Energy Transfer Operating LP		4.500		04/15/24		5,295,386

319

TIAA-CREF FUNDS – Short-Term Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	3,771,000		Enterprise Products Operating LLC		2.800	%	02/15/21	$	3,804,910
	2,000,000	g	GS Caltex Corp		3.000		06/04/24		2,105,380
	5,000,000	g	Leviathan Bond Ltd		5.750		06/30/23		5,149,428
	1,000,000		Marathon Petroleum Corp		4.700		05/01/25		1,128,744
	1,000,000		MPLX LP		3.375		03/15/23		1,053,633
	3,336,000		Occidental Petroleum Corp		2.700		08/15/22		3,117,058
	662,000		ONEOK, Inc		4.250		02/01/22		685,197
	2,200,000	g	Pertamina Persero PT		4.875		05/03/22		2,322,796
	1,500,000		Petroleos Mexicanos		5.375		03/13/22		1,520,625
	662,500		Petroleos Mexicanos		2.000		12/20/22		674,528
	2,000,000		Petroleos Mexicanos		3.500		01/30/23		1,969,060
	695,000		Petroleos Mexicanos		2.378		04/15/25		724,000
	1,000,000		Sabine Pass Liquefaction LLC		6.250		03/15/22		1,061,157
	5,000,000	g	Saudi Arabian Oil Co		2.875		04/16/24		5,245,408
			TOTAL ENERGY						42,711,914
FOOD & STAPLES RETAILING - 0.3%
	2,000,000		Kroger Co		2.600		02/01/21		2,011,044
	5,000,000		Walmart, Inc		2.350		12/15/22		5,215,537
			TOTAL FOOD & STAPLES RETAILING						7,226,581
FOOD, BEVERAGE & TOBACCO - 1.0%
	2,150,000		Altria Group, Inc		3.490		02/14/22		2,234,199
	3,570,000		Altria Group, Inc		2.850		08/09/22		3,714,596
	2,000,000		Constellation Brands, Inc		3.750		05/01/21		2,035,660
	2,000,000		Constellation Brands, Inc		2.650		11/07/22		2,071,325
	2,000,000		Constellation Brands, Inc		3.200		02/15/23		2,114,524
	2,940,000		General Mills, Inc		3.150		12/15/21		3,017,631
	1,000,000	g	Lamb Weston Holdings, Inc		4.625		11/01/24		1,042,500
	3,000,000		Philip Morris International, Inc		1.125		05/01/23		3,045,844
	1,300,000		Tyson Foods, Inc		2.250		08/23/21		1,321,529
			TOTAL FOOD, BEVERAGE & TOBACCO						20,597,808
HEALTH CARE EQUIPMENT & SERVICES - 0.6%
	1,941,000		CVS Health Corp		3.700		03/09/23		2,079,113
	4,925,000		CVS Health Corp		2.625		08/15/24		5,248,662
	4,540,000	g	SBA Tower Trust		1.884		01/15/26		4,640,041
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						11,967,816
INSURANCE - 0.3%
	2,500,000		Aon plc		2.800		03/15/21		2,521,608
	3,000,000	g	MassMutual Global Funding II		0.850		06/09/23		3,027,777
	1,570,000		Prudential Financial, Inc		4.500		11/15/20		1,577,909
			TOTAL INSURANCE						7,127,294
MATERIALS - 1.2%
	5,000,000	g	Air Liquide Finance S.A.		1.750		09/27/21		5,066,517
	1,000,000		Celulosa Arauco y Constitucion S.A.		4.500		08/01/24		1,090,210
	3,000,000	g	Fresnillo plc		5.500		11/13/23		3,351,510
	3,000,000	g	Indonesia Asahan Aluminiu		5.230		11/15/21		3,127,433
	1,350,000	g	Midwest Connector Capital Co LLC		3.625		04/01/22		1,359,991
	2,200,000		Newmont Goldcorp Corp		3.625		06/09/21		2,235,076
	2,000,000	g	NV Chemicals Corp		5.250		08/01/23		1,970,000

320

TIAA-CREF FUNDS – Short-Term Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	2,000,000	g	OCP S.A.		5.625	%	04/25/24	$	2,168,219
	1,550,000	g	SABIC Capital II BV		4.000		10/10/23		1,665,866
	3,000,000		Sasol Financing International plc		4.500		11/14/22		2,903,822
			TOTAL MATERIALS						24,938,644
MEDIA & ENTERTAINMENT - 0.8%
	5,100,000		Charter Communications Operating LLC		4.464		07/23/22		5,399,222
	3,000,000		Comcast Corp		3.000		02/01/24		3,234,243
	1,250,000	g	MEGlobal Canada ULC		5.000		05/18/25		1,348,538
	2,000,000	g	Tencent Holdings Ltd		3.280		04/11/24		2,130,160
	1,100,000	g	Upjohn, Inc		1.125		06/22/22		1,108,382
	3,000,000		Walt Disney Co		1.650		09/01/22		3,069,906
			TOTAL MEDIA & ENTERTAINMENT						16,290,451
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 1.9%
	18,000,000	g	AbbVie, Inc		2.300		11/21/22		18,626,220
	525,000	g	AbbVie, Inc		3.800		03/15/25		582,559
	2,000,000		Bristol-Myers Squibb Co		2.875		02/19/21		2,019,618
	3,000,000		Bristol-Myers Squibb Co		2.550		05/14/21		3,045,067
	2,500,000		Bristol-Myers Squibb Co		2.600		05/16/22		2,593,467
	2,875,000		Gilead Sciences, Inc		0.750		09/29/23		2,880,851
	5,000,000	g	Royalty Pharma plc		0.750		09/02/23		4,986,350
	2,000,000		Teva Pharmaceutical Finance Co BV		2.950		12/18/22		1,944,260
	4,000,000		Teva Pharmaceutical Financial IV BV		3.650		11/10/21		3,990,000
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						40,668,392
REAL ESTATE - 0.5%
	2,000,000		American Tower Corp		2.250		01/15/22		2,045,787
	2,000,000		American Tower Corp		3.375		05/15/24		2,165,144
	2,000,000		Crown Castle International Corp		5.250		01/15/23		2,197,529
	410,000		Federal Realty Investment Trust		3.950		01/15/24		444,049
	850,000		Highwoods Realty LP		3.625		01/15/23		883,707
	2,500,000		Kimco Realty Corp		3.400		11/01/22		2,631,403
			TOTAL REAL ESTATE						10,367,619
RETAILING - 0.1%
	1,600,000	g	Volkswagen Group of America Finance LLC		3.125		05/12/23		1,688,874
			TOTAL RETAILING						1,688,874
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.3%
	3,000,000		Broadcom, Inc		2.250		11/15/23		3,118,691
	2,500,000		Texas Instruments, Inc		2.250		09/04/29		2,679,980
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT						5,798,671
SOFTWARE & SERVICES - 0.6%
	5,000,000		Adobe, Inc		1.900		02/01/25		5,285,396
	5,146,000		Fiserv, Inc		3.500		10/01/22		5,426,116
			TOTAL SOFTWARE & SERVICES						10,711,512
TECHNOLOGY HARDWARE & EQUIPMENT - 0.2%
	1,420,000		Apple, Inc		2.250		02/23/21		1,429,980

321

TIAA-CREF FUNDS – Short-Term Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	1,850,000		Apple, Inc		1.700	%	09/11/22	$	1,899,963
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						3,329,943
TELECOMMUNICATION SERVICES - 1.2%
	7,000,000		AT&T, Inc		2.625		12/01/22		7,291,083
	4,440,000		AT&T, Inc		4.450		04/01/24		4,964,551
	5,000,000	g	T-Mobile USA, Inc		3.500		04/15/25		5,486,100
	1,815,000		Verizon Communications, Inc		3.450		03/15/21		1,841,237
	5,000,000		Verizon Communications, Inc		2.946		03/15/22		5,183,448
			TOTAL TELECOMMUNICATION SERVICES						24,766,419
TRANSPORTATION - 0.4%
	3,000,000	g	Adani Ports & Special Economic Zone Ltd		3.950		01/19/22		3,060,139
	1,100,000		Delta Air Lines, Inc		3.400		04/19/21		1,095,769
	2,200,000	g	Transnet SOC Ltd		4.000		07/26/22		2,176,580
			TOTAL TRANSPORTATION						6,332,488
UTILITIES - 2.2%
	2,000,000	g	AIG Global Funding		0.800		07/07/23		2,010,341
	1,825,000		Berkshire Hathaway Energy Co		2.375		01/15/21		1,835,802
	3,000,000		DTE Energy Co		2.250		11/01/22		3,101,434
	2,000,000	g	Hanwha Energy USA Holdings Corp		2.375		07/30/22		2,055,565
	2,000,000	g	KSA Sukuk Ltd		2.894		04/20/22		2,061,237
	3,050,000		NextEra Energy Capital Holdings, Inc		2.900		04/01/22		3,157,940
	3,000,000	g	State Grid Overseas Investment Ltd		2.750		05/04/22		3,081,060
	3,000,000	g	Tengizchevroil Finance Co International Ltd		2.625		08/15/25		3,012,464
	12,020,000		WEC Energy Group, Inc		0.550		09/15/23		12,050,662
	13,950,000		Xcel Energy, Inc		0.500		10/15/23		13,934,871
			TOTAL UTILITIES						46,301,376
			TOTAL CORPORATE BONDS						704,797,367
			(Cost $690,357,985)
GOVERNMENT BONDS -  41.2%
AGENCY SECURITIES - 3.4%
	2,875,000	g	Hospital for Special Surgery		3.500		01/01/23		2,957,377
	24,000,000		Iraq Government AID International Bond		2.149		01/18/22		24,609,747
	830,000	g	Montefiore Medical Center		3.896		05/20/27		839,351
	5,900,000		Private Export Funding Corp (PEFCO)		1.750		11/15/24		6,219,133
	5,789,474		Reliance Industries Ltd		1.870		01/15/26		5,986,452
	5,500,000		Reliance Industries Ltd		2.060		01/15/26		5,721,104
	7,236,842		Reliance Industries Ltd		2.444		01/15/26		7,601,928
	1,519,945		San Clemente Leasing LLC		3.030		11/22/22		1,559,939
	15,000,000		Ukraine Government AID International Bonds		1.471		09/29/21		15,186,680
			TOTAL AGENCY SECURITIES						70,681,711
FOREIGN GOVERNMENT BONDS - 11.4%
	3,325,000	g	Arab Petroleum Investments Corp		4.125		09/18/23		3,576,038
	48,047		Argentine Republic Government International Bond		1.000		07/09/29		21,886
	790,550		Argentine Republic Government International Bond (Step Bond)		0.125		07/09/30		329,659
	7,000,000	g	Bermuda Government International Bond		4.138		01/03/23		7,393,750

322

TIAA-CREF FUNDS – Short-Term Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	4,000,000	g	BNG Bank NV			3.125	%	11/08/21	$	4,125,296
	3,250,000		Brazilian Government International Bond			2.625		01/05/23		3,347,500
	2,500,000		Brazilian Government International Bond			2.875		06/06/25		2,518,750
	5,000,000	g	Caisse d’Amortissement de la Dette Sociale			0.375		09/23/25		4,965,400
	10,000,000	g	CDP Financial, Inc			0.875		06/10/25		10,116,736
	9,000,000	g	CPPIB Capital, Inc			2.750		07/22/21		9,180,754
	166,667	g	Dominican Republic Government International Bond			7.500		05/06/21		171,875
	1,725,000	g	Egypt Government International Bond			5.577		02/21/23		1,770,187
	1,500,000	g	Egypt Government International Bond			4.550		11/20/23		1,497,510
	3,200,000		Export-Import Bank of India			4.000		01/14/23		3,359,610
	4,000,000		Export-Import Bank of Korea			0.750		09/21/25		3,987,897
	1,700,000	g	Fondo MIVIVIENDA S.A.			3.500		01/31/23		1,770,142
	500,000	g	Honduras Government International Bond			8.750		12/16/20		504,950
	1,500,000	g	Honduras Government International Bond			7.500		03/15/24		1,631,250
	8,900,000	g	International Development Association			2.750		04/24/23		9,452,269
	1,500,000		Japan Bank for International Cooperation			1.875		04/20/21		1,512,767
	6,100,000		Japan Bank for International Cooperation			1.750		01/23/23		6,288,380
	3,200,000	g	Japan Finance Organization for Municipalities			2.125		02/12/21		3,219,457
	6,650,000	g	Japan Finance Organization for Municipalities			3.375		09/27/23		7,199,889
	4,500,000	g	Japan Finance Organization for Municipalities			3.000		03/12/24		4,860,474
	1,150,000	g	Kommunalbanken AS.			1.375		10/26/20		1,150,862
	3,750,000	g	Kommunalbanken AS.			1.625		02/10/21		3,767,731
	1,560,000	g	Kommunalbanken AS.			2.750		02/05/24		1,682,864
	10,000,000	g	Kommunalbanken AS.			0.375		09/11/25		9,950,100
	5,667,000	g	Kommuninvest I Sverige AB			2.625		09/15/22		5,922,317
	5,400,000	g	Kommuninvest I Sverige AB			0.250		12/01/22		5,396,272
	2,000,000	i	Korea Development Bank	LIBOR 3 M + 0.550%		0.799		03/12/21		2,001,439
	1,400,000	g	Korea Electric Power Corp			1.125		06/15/25		1,406,790
	6,700,000	g	Korea Housing Finance Corp			2.000		10/11/21		6,790,120
	1,875,000	g	Korea Housing Finance Corp			3.000		10/31/22		1,963,087
	500,000	g	Kuwait Government International Bond			2.750		03/20/22		513,271
	16,000,000		Landwirtschaftliche Rentenbank			0.875		09/03/30		15,992,160
	2,025,000	g	Morocco Government International Bond			4.250		12/11/22		2,126,250
	1,500,000	g	Namibia International Bonds			5.500		11/03/21		1,514,409
	400,000	g	Nederlandse Waterschapsbank NV			2.125		11/15/21		408,222
	5,950,000	g	OMERS Finance Trust			2.500		05/02/24		6,364,360
	15,000,000	g	Ontario Teachers’ Finance Trust			1.625		09/12/24		15,605,991
	2,000,000	g	Perusahaan Penerbit SBSN Indonesia III			3.400		03/29/22		2,071,140
	5,000,000	g	Perusahaan Penerbit SBSN Indonesia III			3.750		03/01/23		5,306,500
	3,400,000	g	Perusahaan Penerbit SBSN Indonesia III			3.900		08/20/24		3,734,220
	1,300,000		Province of New Brunswick Canada			8.750		05/01/22		1,461,332
	5,000,000	h	Province of Ontario Canada			1.125		10/07/30		4,971,049
	3,000,000	g	Qatar Government International Bond			3.375		03/14/24		3,229,202
	4,000,000	g	Qatar Government International Bond			4.000		03/14/29		4,675,394
	6,800,000		Republic of Italy Government International Bond			2.375		10/17/24		7,071,626
	1,500,000	g	Republic of Paraguay Government International Bond			4.625		01/25/23		1,586,250
	2,000,000	g	Republic of Uzbekistan Government International Bond			4.750		02/20/24		2,099,674
	5,625,000	g	Saudi Government International Bond			2.375		10/26/21		5,716,372
	500,000	g	Senegal Goverment International Bond			8.750		05/13/21		512,975
	6,500,000		Svensk Exportkredit AB			1.750		03/10/21		6,542,046
	6,540,000		Svensk Exportkredit AB			1.750		12/12/23		6,824,154
	5,000,000		Svensk Exportkredit AB			0.500		08/26/25		4,990,100
			TOTAL FOREIGN GOVERNMENT BONDS							236,150,705

323

TIAA-CREF FUNDS – Short-Term Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
MORTGAGE BACKED - 6.2%
$	9,000,000		Federal Home Loan Bank (FHLB)		0.375	%	09/04/25	$	8,996,784
	3,987	i	Federal Home Loan Mortgage Corp (FHLMC)		0.552		12/15/20		3,987
	8,500,000		FHLMC		0.250		08/24/23		8,500,737
	16,250,000		FHLMC		0.250		09/08/23		16,260,187
	2,690		Federal National Mortgage Association (FNMA)		5.500		09/25/22		2,764
	15,000,000		FNMA		0.250		07/10/23		14,995,231
	1,843		FNMA		5.000		09/25/24		26
	20,000,000		FNMA		0.500		06/17/25		20,058,311
	13,000,000	h	FNMA		2.000		10/25/35		13,507,813
	20,295,401		Government National Mortgage Association (GNMA)		1.730		07/15/37		20,878,846
	22,765,044		GNMA		4.250		09/15/38		24,717,299
			TOTAL MORTGAGE BACKED						127,921,985
MUNICIPAL BONDS - 2.1%
	5,000,000		Bay Area Toll Authority		2.254		04/01/24		5,271,600
	19,755,000		City of New York NY		2.280		08/01/25		20,797,669
	10,000,000		Massachusetts Water Resources Authority		2.083		08/01/25		10,639,400
	6,000,000		Massachusetts Water Resources Authority		3.104		08/01/39		6,349,260
			TOTAL MUNICIPAL BONDS						43,057,929
U.S. TREASURY SECURITIES - 18.1%
	48,010,000		United States Treasury Note		1.750		07/31/21		48,647,633
	59,505,000		United States Treasury Note		1.500		09/30/21		60,299,950
	27,750,000		United States Treasury Note		1.625		12/31/21		28,257,305
	21,290,000		United States Treasury Note		0.125		06/30/22		21,285,010
	5,000,000		United States Treasury Note		0.125		08/31/22		4,998,633
	100,564,000		United States Treasury Note		0.125		09/15/23		100,469,721
	57,615,000		United States Treasury Note		0.250		09/30/25		57,538,480
	31,000,000		United States Treasury Note		1.875		07/31/26		33,704,023
	20,000,000		United States Treasury Note		0.500		05/31/27		20,080,469
			TOTAL U.S. TREASURY SECURITIES						375,281,224
			TOTAL GOVERNMENT BONDS						853,093,554
			(Cost $835,868,483)
STRUCTURED ASSETS - 20.7%
ASSET BACKED - 8.8%
	120,809		Aames Mortgage Trust (Step Bond)		7.396		06/25/32		122,477
			Series - 2002 1 (Class A3)
	923,077	†,i	ARTS Ltd		2.030		09/15/21		906,923
			Series - 2016 53 (Class NOTE)
	55,677	†,g	Asset Backed Funding Corp NIM Trust		5.900		07/26/35		1
			Series - 2005 WMC1 (Class N1)
	1,771,496	i	Asset Backed Securities Corp Home Equity Loan Trust		1.802		03/15/32		1,769,043
			Series - 2002 HE1 (Class M1)
	177,113	g	Avid Automobile Receivables Trust		2.840		08/15/23		177,382
			Series - 2018 1 (Class A)
	997,227	g	Bank of The West Auto Trust		2.110		01/15/23		1,003,111
			Series - 2017 1 (Class A3)

324

TIAA-CREF FUNDS – Short-Term Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	930,570	i	Bear Stearns Asset Backed Securities Trust		1.378	%	08/25/43	$	921,922
			Series - 2005 SD1 (Class 1M3)
	1,877,216	g	Capital Automotive REIT		3.870		04/15/47		1,880,543
			Series - 2017 1A (Class A1)
	2,500,000	i	Capital One Multi-Asset Execution Trust		0.782		02/15/24		2,507,689
			Series - 2016 A2 (Class A2)
	3,140,000		Carmax Auto Owner Trust		3.360		09/15/23		3,219,438
			Series - 2018 4 (Class A3)
	1,615,000		Carmax Auto Owner Trust		3.050		03/15/24		1,657,478
			Series - 2019 1 (Class A3)
	3,218,689	†,g	CDO Repack SPC Ltd		0.000		05/20/30		3,367,287
			Series - 2006 CLF1 (Class D1)
	2,809		Centex Home Equity		5.540		01/25/32		2,896
			Series - 2002 A (Class AF6)
	66,491	i	Centex Home Equity		0.793		03/25/34		65,104
			Series - 2004 B (Class M1)
	10,650,000	g	CF Hippolyta LLC		1.690		07/15/60		10,768,422
			Series - 2020 1 (Class A1)
	122,341	i	Chase Funding Mortgage Loan Asset-Backed Certificates		5.700		02/26/35		130,245
			Series - 2004 2 (Class 1M2)
	4,000,000	i	Chase Issuance Trust		0.702		06/15/23		4,015,252
			Series - 2016 A3 (Class A3)
	2,000,000	i	Citibank Credit Card Issuance Trust		0.524		08/08/24		2,007,521
			Series - 2017 A7 (Class A7)
	2,000,000	i	Citibank Credit Card Issuance Trust		0.486		01/20/25		2,004,386
			Series - 2018 A2 (Class A2)
	44,518	g	Conn’s Receivables Funding		3.250		01/15/23		44,529
			Series - 2018 A (Class A)
	772,234	g	Credit-Based Asset Servicing & Securitization LLC (Step Bond)		5.050		12/25/37		790,991
			Series - 2007 SP1 (Class A4)
	3,500,000	i	Discover Card Execution Note Trust		0.382		12/15/23		3,505,452
			Series - 2018 A3 (Class A3)
	2,000,000	i	Discover Card Execution Note Trust		0.482		08/15/25		2,003,795
			Series - 2018 A2 (Class A2)
	2,431,250	g,i	Domino’s Pizza Master Issuer LLC		0.000		07/25/47		2,432,077
			Series - 2017 1A (Class A2I)
	14,587,500	g	Domino’s Pizza Master Issuer LLC		3.082		07/25/47		14,617,259
			Series - 2017 1A (Class A2II)
	3,500,000		Drive Auto Receivables Trust		0.830		05/15/24		3,515,597
			Series - 2020 2 (Class A3)
	716,936		Entergy Louisiana Investment Recovery Funding I LLC		2.040		09/01/23		718,492
			Series - 2011 A (Class A1)
	71,022		Fifth Third Auto Trust		1.800		02/15/22		71,106
			Series - 2017 1 (Class A3)
	3,000,000		Ford Credit Auto Owner Trust		1.040		08/15/24		3,036,999
			Series - 2020 A (Class A3)
	2,000,000		Ford Credit Auto Owner Trust		1.350		07/15/25		2,054,907
			Series - 2020 A (Class A4)
	2,300,000	g	Ford Credit Auto Owner Trust		2.310		08/15/27		2,316,327
			Series - 2016 1 (Class A)

325

TIAA-CREF FUNDS – Short-Term Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	1,250,000	†,i	Garanti Diversified Payment Rights Finance Co		3.440	%	10/09/21	$	1,232,812
			Series - 2016 A (Class A)
	172,366	g	GLS Auto Receivables Trust		2.820		07/15/22		172,761
			Series - 2018 1A (Class A)
	2,033,138		GM Financial Consumer Automobile Receivables Trust		3.210		10/16/23		2,079,199
			Series - 2018 4 (Class A3)
	2,160,000		Honda Auto Receivables Owner Trust		2.830		03/20/23		2,207,450
			Series - 2019 1 (Class A3)
	1,890,200	g,i	Invitation Homes Trust		1.052		06/17/37		1,886,648
			Series - 2018 SFR2 (Class A)
	9,188,090	g,i	Invitation Homes Trust		1.151		07/17/37		9,189,544
			Series - 2018 SFR3 (Class A)
	1,563,000	g,i	Invitation Homes Trust		1.801		01/17/38		1,562,999
			Series - 2018 SFR4 (Class D)
	1,000,000	g,i	Irvine Core Office Trust		3.279		05/15/48		1,044,023
			Series - 2013 IRV (Class A2)
	993,677	g	Mid-State Capital Trust		7.000		12/15/45		1,041,646
			Series - 2010 1 (Class B)
	8,000,000	g	MMAF Equipment Finance LLC		2.010		12/12/24		8,248,794
			Series - 2019 B (Class A3)
	1,250,431	g	New Residential Mortgage LLC		4.690		05/25/23		1,216,359
			Series - 2018 FNT1 (Class D)
	1,153,505	g	New Residential Mortgage LLC		4.920		07/25/54		1,112,092
			Series - 2018 FNT2 (Class D)
	2,822,802	i	Park Place Securities, Inc		1.393		01/25/36		2,820,510
			Series - 2005 WCH1 (Class M4)
	2,206,878	g	Progress Residential Trust		2.768		08/17/34		2,247,423
			Series - 2017 SFR1 (Class A)
	753,829	g	SoFi Professional Loan Program LLC		2.360		12/27/32		763,587
			Series - 2016 C (Class A2B)
	1,166,168	g	SoFi Professional Loan Program LLC		2.340		04/25/33		1,186,835
			Series - 2016 D (Class A2B)
	904,243	g	SoFi Professional Loan Program LLC		2.510		08/25/33		910,996
			Series - 2015 C (Class A2)
	492,951	g	SoFi Professional Loan Program LLC		2.630		07/25/40		502,781
			Series - 2017 C (Class A2B)
	3,750,000	g	Stack Infrastructure Issuer LLC		1.893		08/25/45		3,774,390
			Series - 2020 1A (Class A2)
	1,100,000		Synchrony Card Issuance Trust		3.380		09/15/24		1,131,471
			Series - 2018 A1 (Class A)
	870,042	g	Tax Ease Funding LLC		3.131		06/15/28		871,888
			Series - 2016 1A (Class A)
	77,661	g	TCF Auto Receivables Owner Trust		1.930		06/15/22		77,744
			Series - 2016 PT1A (Class A)
	2,528,000	g	TCF Auto Receivables Owner Trust		2.920		10/17/22		2,540,193
			Series - 2016 PT1A (Class B)
	9,019,111	g	TES LLC		4.330		10/20/47		9,199,166
			Series - 2017 1A (Class A)
	3,000,000		Toyota Auto Receivables Owner		2.050		09/15/22		3,015,933
			Series - 2017 B (Class A4)
	1,990,000		Toyota Auto Receivables Owner		3.180		03/15/23		2,025,908
			Series - 2018 D (Class A3)

326

TIAA-CREF FUNDS – Short-Term Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	2,900,000	g	Tricon American Homes Trust		4.878	%	11/17/33	$	2,897,132
			Series - 2016 SFR1 (Class E)
	2,139,878	g	Tricon American Homes Trust		2.716		09/17/34		2,177,622
			Series - 2017 SFR1 (Class A)
	114,904		US Airways Pass Through Trust		7.076		03/20/21		106,065
			Series - 2001 1G (Class )
	10,905,000		Verizon Owner Trust		3.380		04/20/23		11,309,404
			Series - 2018 A (Class B)
	9,000,000		Verizon Owner Trust		3.020		09/20/23		9,326,733
			Series - 2019 A (Class B)
	17,500,000		Verizon Owner Trust		0.680		02/20/25		17,491,469
			Series - 2020 B (Class B)
	3,500,000		Volkswagen Auto Loan Enhanced Trust		0.980		11/20/24		3,543,748
			Series - 2020 1 (Class A3)
	1,500,000		Volkswagen Auto Loan Enhanced Trust		1.260		08/20/26		1,538,090
			Series - 2020 1 (Class A4)
			TOTAL ASSET BACKED						182,088,066
OTHER MORTGAGE BACKED - 11.9%
	374,732	g,i	ACE Securities Corp Manufactured Housing Trust		6.500		08/15/30		404,865
			Series - 2003 MH1 (Class M1)
	3,145,000	g,i	Angel Oak Mortgage Trust		3.161		12/25/59		3,071,115
			Series - 2020 1 (Class M1)
	3,000,000	g,i	Atrium Hotel Portfolio Trust		1.102		06/15/35		2,849,541
			Series - 2018 ATRM (Class A)
	120,099	i	Banc of America Funding		0.956		02/20/35		120,245
			Series - 2005 A (Class 5A3)
	4,000,000	g,i	BBCMS Trust		1.152		07/15/37		3,820,916
			Series - 2018 CBM (Class A)
	1,465,076	i	Bear Stearns ALT-A Trust		0.748		06/25/34		1,468,128
			Series - 2004 4 (Class A1)
	2,000,000	g,i	BHP Trust		1.127		08/15/36		1,920,411
			Series - 2019 BXHP (Class A)
	2,100,000	g,i	BX Commercial Mortgage Trust		1.452		11/15/35		2,084,179
			Series - 2018 IND (Class D)
	3,417,472	g,i	BX Commercial Mortgage Trust		1.402		10/15/36		3,407,867
			Series - 2019 XL (Class C)
	5,288,031	g,i	Chase Mortgage Trust		3.750		12/25/45		5,452,871
			Series - 2016 SH2 (Class M2)
	27,098		Citicorp Mortgage Securities Trust		5.500		02/25/26		27,532
			Series - 2006 1 (Class 5A1)
	1,594,974	g,i	Citigroup Mortgage Loan Trust		2.631		09/25/36		1,517,912
			Series - 2006 AMC1 (Class A1)
	1,124,631	g,i	COMM Mortgage Trust		3.577		08/10/29		1,126,570
			Series - 2016 GCT (Class D)
	3,623,360	g	COMM Mortgage Trust		3.397		03/10/46		3,681,385
			Series - 2013 CR6 (Class B)
	2,014,904		COMM Mortgage Trust		4.701		03/10/47		2,138,827
			Series - 2014 UBS2 (Class B)
	3,300,000	i	COMM Mortgage Trust		4.703		08/10/47		3,573,489
			Series - 2014 CR19 (Class B)
	1,000,000	g,i	COMM Mortgage Trust		4.868		08/10/47		882,882
			Series - 2014 CR19 (Class D)
	3,000,000	i	COMM Mortgage Trust		3.463		08/10/48		2,508,352
			Series - 2015 CR24 (Class D)

327

TIAA-CREF FUNDS – Short-Term Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	3,970,000	i	COMM Mortgage Trust		4.689	%	08/10/48	$	4,201,983
			Series - 2015 CR25 (Class B)
	965,166	g,i	Commercial Mortgage Lease-Backed Certificates		8.199		06/20/31		971,633
			Series - 2001 CMLB (Class C)
	1,524,091	i	Connecticut Avenue Securities		2.748		05/25/24		1,334,015
			Series - 2014 C02 (Class 1M2)
	6,137,409	i	Connecticut Avenue Securities		3.148		07/25/24		5,362,919
			Series - 2014 C03 (Class 1M2)
	3,364,927	i	Connecticut Avenue Securities		0.998		09/25/29		3,094,771
			Series - 2017 C02 (Class 2ED4)
	2,254,138	i	Connecticut Avenue Securities		2.798		02/25/30		2,225,833
			Series - 2017 C06 (Class 1M2)
	1,902,475	i	Connecticut Avenue Securities		0.998		10/25/30		1,891,455
			Series - 2018 C03 (Class 1EA2)
	3,059,162	g,i	Connecticut Avenue Securities		2.148		07/25/39		3,032,273
			Series - 2019 R05 (Class 1M2)
	970,946	g,i	Connecticut Avenue Securities		0.898		01/25/40		968,480
			Series - 2020 R02 (Class 2M1)
	5,950,921	g,i	Connecticut Avenue Securities		0.948		01/25/40		5,926,226
			Series - 2020 R01 (Class 1M1)
	2,600,260	g	Credit Suisse Commercial Mortgage Trust		3.304		09/15/37		2,611,889
			Series - 2014 USA (Class A1)
	12,000,000	g,i	Credit Suisse Commercial Mortgage Trust		5.896		01/15/49		14,251,440
			Series - 2007 C2 (Class C)
	207,649		Credit Suisse First Boston Mortgage Securities Corp		5.750		09/25/33		215,771
			Series - 2003 23 (Class 3A4)
	3,800,000	g,i	DBUBS Mortgage Trust		5.670		07/10/44		3,819,509
			Series - 2011 LC2A (Class C)
	2,775,000	g,i	DBUBS Mortgage Trust		5.670		07/10/44		2,554,482
			Series - 2011 LC2A (Class D)
	1,120,000	g,i	DBUBS Mortgage Trust		5.790		11/10/46		1,120,018
			Series - 2011 LC1A (Class D)
	3,000,000	g,i	DBUBS Mortgage Trust		5.790		11/10/46		2,998,346
			Series - 2011 LC1A (Class E)
	162,464		Deutsche Mortgage Securities, Inc Mortgage Loan Trust (Step Bond)		5.440		07/25/34		163,856
			Series - 2004 5 (Class A5B)
	651,794	g,i	Flagstar Mortgage Trust		3.500		10/25/47		653,965
			Series - 2017 2 (Class A5)
	647,081	g,i	Galton Funding Mortgage Trust		4.500		10/25/58		661,305
			Series - 2018 2 (Class A41)
	1,050,000	g	GS Mortgage Securities Corp II		3.419		10/10/32		1,070,992
			Series - 2017 SLP (Class A)
	3,000,000	g	GS Mortgage Securities Corp II		2.954		11/05/34		2,989,642
			Series - 2012 BWTR (Class A)
	2,598,000	g,i	GS Mortgage Securities Corp II		4.549		02/10/46		2,216,777
			Series - 2013 GC10 (Class D)
	2,000,000	g,i	GS Mortgage Securities Trust		1.242		10/15/31		1,965,234
			Series - 2018 HART (Class A)
	1,000,000	g,i	GS Mortgage Securities Trust		3.668		07/10/52		1,020,510
			Series - 2019 GC40 (Class DBC)
	412,388		IMC Home Equity Loan Trust (Step Bond)		5.432		08/20/29		429,625
			Series - 1998 3 (Class A7)

328

TIAA-CREF FUNDS – Short-Term Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	108,381	i	Impac CMB Trust		0.808	%	03/25/35	$	105,796
			Series - 2004 11 (Class 2A1)
	1,019,690	g	JP Morgan Chase Commercial Mortgage Securities Corp		4.717		02/15/46		1,022,873
			Series - 2011 C3 (Class A4)
	6,170,000	g,i	JP Morgan Chase Commercial Mortgage Securities Corp		5.360		02/15/46		5,252,702
			Series - 2011 C3 (Class C)
	600,000	g	JP Morgan Chase Commercial Mortgage Securities Trust		4.021		07/05/32		617,966
			Series - 2012 HSBC (Class C)
	1,666,065	g	JP Morgan Chase Commercial Mortgage Securities Trust		4.070		11/15/43		1,664,621
			Series - 2010 C2 (Class A3)
	3,843,000	i	JP Morgan Chase Commercial Mortgage Securities Trust		4.214		01/15/46		3,880,080
			Series - 2013 C13 (Class C)
	2,000,000	g,i	JP Morgan Chase Commercial Mortgage Securities Trust		5.013		02/15/46		1,887,977
			Series - 2011 C3 (Class B)
	4,846,241	g,i	JP Morgan Mortgage Trust		3.500		01/25/47		4,976,573
			Series - 2017 1 (Class A3)
	2,343,000	g,i	JP Morgan Mortgage Trust		3.500		08/25/47		2,352,068
			Series - 2017 3 (Class 1A5)
	132,754	g,i	JP Morgan Mortgage Trust		4.000		02/25/49		132,825
			Series - 2018 9 (Class A5)
	368,238	g,i	JP Morgan Mortgage Trust		1.098		10/25/49		367,796
			Series - 2019 INV1 (Class A11)
	398,878		JPMBB Commercial Mortgage Securities Trust		3.657		09/15/47		420,068
			Series - 2014 C23 (Class ASB)
	2,695,828	g,i	KKR Industrial Portfolio Trust		2.182		03/15/37		2,682,305
			Series - 2020 AIP (Class D)
	5,000,000	g,i	Merit		1.302		08/15/37		5,003,126
			Series - 2020 HILL (Class A)
	2,200,000	g,i	Merit		1.852		08/15/37		2,202,756
			Series - 2020 HILL (Class C)
	1,893,702	g	Morgan Stanley Bank of America Merrill Lynch Trust		3.989		12/15/46		1,966,074
			Series - 2014 C19 (Class LNC1)
	257,260	i	Morgan Stanley Capital I Trust		0.973		08/25/34		255,526
			Series - 2004 HE6 (Class M1)
	371,168	g,i	Morgan Stanley Dean Witter Capital I Trust		7.587		07/15/33		375,535
			Series - 2001 TOP3 (Class E)
	2,500,000	g,i	Natixis Commercial Mortgage Securities Trust		1.652		07/15/36		2,475,042
			Series - 2019 MILE (Class A)
	7,500,000	g,i	Natixis Commercial Mortgage Securities Trust		2.352		07/15/36		7,197,283
			Series - 2019 MILE (Class C)
	1,000,000	g	Natixis Commercial Mortgage Securities Trust		2.966		12/15/38		1,042,841
			Series - 2020 2PAC (Class A)
	923,718	g,i	New Residential Mortgage Loan Trust		3.750		05/28/52		987,887
			Series - 2015 1A (Class A3)
	958,012	g,i	New Residential Mortgage Loan Trust		3.750		05/25/54		1,034,972
			Series - 2014 2A (Class A3)
	557,907	g,i	New Residential Mortgage Loan Trust		3.750		11/25/54		596,997
			Series - 2014 3A (Class AFX3)

329

TIAA-CREF FUNDS – Short-Term Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	1,044,682	g,i	New Residential Mortgage Loan Trust		3.750	%	03/25/56	$	1,120,164
			Series - 2016 1A (Class A1)
	1,221,721	g,i	New Residential Mortgage Loan Trust		4.000		02/25/57		1,323,560
			Series - 2017 1A (Class A1)
	1,643,349	g,i	New Residential Mortgage Loan Trust		4.000		12/25/57		1,773,838
			Series - 2018 1A (Class A1A)
	1,266,362	g,i	New Residential Mortgage Loan Trust		4.750		12/25/57		1,362,694
			Series - 2018 5A (Class A1)
	1,699,356	g,i	OBX Trust		0.798		06/25/57		1,696,807
			Series - 2018 1 (Class A2)
	7,865,959	g,i	OBX Trust		0.898		07/25/58		7,830,723
			Series - 2018 EXP2 (Class 2A1A)
	2,000,000	g	RBS Commercial Funding, Inc Trust		3.511		03/11/31		1,808,030
			Series - 2013 SMV (Class B)
	1,211,283	g	Sequoia Mortgage Trust		4.000		12/25/43		1,223,340
			Series - 2013 12 (Class A1)
	388,645	g,i	Sequoia Mortgage Trust		3.500		02/25/47		393,645
			Series - 2017 2 (Class A4)
	165,618	g,i	Sequoia Mortgage Trust		3.500		02/25/47		166,995
			Series - 2017 1 (Class A4)
	3,303,770	g,i	Sequoia Mortgage Trust		3.500		02/25/47		3,382,832
			Series - 2017 2 (Class A10)
	5,286,307	g,i	Sequoia Mortgage Trust		3.500		04/25/47		5,356,047
			Series - 2017 3 (Class A4)
	4,601,575	g,i	Sequoia Mortgage Trust		3.500		09/25/47		4,626,873
			Series - 2017 6 (Class A4)
	16,111,278	g,i	Sequoia Mortgage Trust		3.500		03/25/48		16,149,760
			Series - 2018 3 (Class A4)
	430,774	g,i	Sequoia Mortgage Trust		4.000		02/25/49		430,315
			Series - 2019 1 (Class A4)
	10,171,816	g,i	Sequoia Mortgage Trust		3.500		02/25/50		10,308,388
			Series - 2020 1 (Class A4)
	1,639,264	g,i	Sequoia Mortgage Trust		3.500		03/25/50		1,689,010
			Series - 2020 2 (Class A4)
	2,943,191	g,i	Shellpoint Co-Originator Trust		3.500		04/25/47		2,983,717
			Series - 2017 1 (Class A4)
	316,486	g,i	Shellpoint Co-Originator Trust		3.500		10/25/47		317,165
			Series - 2017 2 (Class A4)
	1,259,327	i	Structured Adjustable Rate Mortgage Loan Trust		0.518		07/25/34		1,264,764
			Series - 2004 9XS (Class A)
	4,853,815	i	Structured Agency Credit Risk Debt Note (STACR)		3.398		07/25/29		4,970,700
			Series - 2017 DNA1 (Class M2)
	3,663,526	i	STACR		1.348		10/25/29		3,663,525
			Series - 2017 DNA2 (Class M1)
	345,370	g,i	STACR		3.721		02/25/48		347,195
			Series - 2018 SPI1 (Class M1)
	1,352,687	g,i	STACR		1.248		07/27/50		1,351,335
			Series - 2020 HQA2 (Class M1)
	3,723,000	g,i	UBS-Citigroup Commercial Mortgage Trust		6.252		01/10/45		3,827,984
			Series - 2011 C1 (Class B)
	1,240,409	g,i	Verus Securitization Trust		4.108		10/25/58		1,270,788
			Series - 2018 3 (Class A1)

330

TIAA-CREF FUNDS – Short-Term Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	2,460,000	g,i	VNDO Mortgage Trust		4.079	%	12/13/29	$	2,456,902
			Series - 2013 PENN (Class B)
	281,357	i	Wachovia Bank Commercial Mortgage Trust		5.748		04/15/47		273,822
			Series - 2007 C31 (Class F)
	1,274,000		Wells Fargo Commercial Mortgage Trust		3.539		10/15/45		1,323,825
			Series - 2012 LC5 (Class AS)
	896,000	g,i	Wells Fargo Commercial Mortgage Trust		4.917		10/15/45		886,315
			Series - 2012 LC5 (Class D)
	1,843,500	g	WFRBS Commercial Mortgage Trust		4.375		03/15/44		1,856,103
			Series - 2011 C3 (Class A4)
	2,500,000	i	WFRBS Commercial Mortgage Trust		4.204		11/15/47		2,392,908
			Series - 2014 C24 (Class B)
			TOTAL OTHER MORTGAGE BACKED						246,141,794
			TOTAL STRUCTURED ASSETS						428,229,860
			(Cost $431,768,841)
			TOTAL BONDS						1,986,120,781
			(Cost $1,957,995,309)
SHORT-TERM INVESTMENTS - 3.0%
GOVERNMENT AGENCY DEBT - 2.3%
	15,565,000		Federal Home Loan Bank (FHLB)		0.075-0.100		10/14/20		15,564,663
	14,480,000		FHLB		0.065-0.090		11/02/20		14,479,099
	18,612,000		FHLB		0.105		11/04/20		18,610,769
			TOTAL GOVERNMENT AGENCY DEBT						48,654,531
REPURCHASE AGREEMENT - 0.2%
	3,680,000	r	Fixed Income Clearing Corp (FICC)		0.070		10/01/20		3,680,000
			TOTAL REPURCHASE AGREEMENT						3,680,000
TREASURY DEBT - 0.5%
	10,000,000		United States Treasury Bill		0.079		11/05/20		9,999,101
			TOTAL TREASURY DEBT						9,999,101
			TOTAL SHORT-TERM INVESTMENTS						62,333,632
			(Cost $62,332,814)
			TOTAL INVESTMENTS - 100.7%						2,083,555,489
			(Cost $2,056,630,946)
			OTHER ASSETS & LIABILITIES, NET - (0.7)%						(15,357,952	)
			NET ASSETS - 100.0%					$	2,068,197,537

	Abbreviation(s):
LIBOR	London Interbank Offered Rate
M	Month
REIT	Real Estate Investment Trust

†	Security is categorized as Level 3 in the fair value hierarchy.
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933, as amended. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 9/30/2020, the aggregate value of these securities is $686,593,896 or 33.2% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.
i	Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.
r	Agreement with Fixed Income Clearing Corporation, 0.070% dated 9/30/20 to be repurchased at $3,680,000 on 10/01/20, collateralized by U.S. Treasury Notes valued at $3,753,619.

331

TIAA-CREF FUNDS – Short-Term Bond Fund

Futures contracts outstanding as of September 30, 2020 were as follows:

Description	Number of long (short) contracts			Expiration date	Notional amount			Value			Unrealized appreciation (depreciation)
US Long Bond (CBT)		(40	)	12/21/20	$	(7,037,490	)	$	(7,051,250	)	$	(13,760	)
US 10 Year Note (CBT)		(420	)	12/21/20		(58,357,848	)		(58,603,125	)		(245,277	)
Total		(460	)		$	(65,395,338	)	$	(65,654,375	)	$	(259,037	)

332

TIAA-CREF FUNDS – Short-Term Bond Index Fund

TIAA-CREF FUNDS
SHORT-TERM BOND INDEX FUND
SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2020

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE
BONDS - 99.6%
CORPORATE BONDS - 24.5%
AUTOMOBILES & COMPONENTS - 0.1%
$	200,000	General Motors Co		5.400	%	10/02/23	$	220,462
	250,000	Toyota Motor Corp		2.157		07/02/22		257,674
		TOTAL AUTOMOBILES & COMPONENTS						478,136
BANKS - 6.4%
	200,000	Banco Bilbao Vizcaya Argentaria S.A.		0.875		09/18/23		199,763
	400,000	Banco Santander S.A.		3.125		02/23/23		418,976
	200,000	Banco Santander S.A.		3.848		04/12/23		213,558
	300,000	Bank of America Corp		2.738		01/23/22		302,116
	300,000	Bank of America Corp		3.499		05/17/22		305,590
	200,000	Bank of America Corp		2.503		10/21/22		204,214
	500,000	Bank of America Corp		3.300		01/11/23		530,845
	1,950,000	Bank of America Corp		2.881		04/24/23		2,016,450
	500,000	Bank of America Corp		3.550		03/05/24		532,573
	500,000	Bank of America Corp		1.486		05/19/24		508,559
	1,200,000	Bank of America Corp		3.864		07/23/24		1,299,487
	250,000	Bank of America NA		3.335		01/25/23		259,411
	200,000	Bank of Nova Scotia		3.125		04/20/21		203,088
	150,000	Bank of Nova Scotia		2.375		01/18/23		156,227
	500,000	Bank of Nova Scotia		1.950		02/01/23		516,739
	250,000	Bank of Nova Scotia		1.625		05/01/23		256,411
	500,000	Bank of Nova Scotia		0.550		09/15/23		499,151
	200,000	Bank of Nova Scotia		4.650		N/A‡		193,876
	200,000	Barclays Bank plc		2.650		01/11/21		200,812
	500,000	Barclays Bank plc		1.700		05/12/22		508,181
	200,000	Barclays plc		3.250		01/12/21		201,571
	850,000	Barclays plc		4.610		02/15/23		889,680
	250,000	BBVA USA		3.500		06/11/21		254,530
	400,000	Canadian Imperial Bank of Commerce		0.950		06/23/23		403,662
	200,000	Canadian Imperial Bank of Commerce		2.606		07/22/23		207,266
	500,000	CitiBank NA		2.844		05/20/22		507,667
	500,000	Citigroup, Inc		2.750		04/25/22		516,685
	510,000	Citigroup, Inc		2.700		10/27/22		531,641
	100,000	Citigroup, Inc		2.312		11/04/22		101,951
	300,000	Citigroup, Inc		3.142		01/24/23		309,508
	750,000	Citigroup, Inc		2.876		07/24/23		778,201
	1,250,000	Citigroup, Inc		1.678		05/15/24		1,280,437
	250,000	Citizens Bank NA		3.250		02/14/22		259,089
	700,000	Cooperatieve Rabobank UA		3.875		02/08/22		733,233
	250,000	Cooperatieve Rabobank UA		3.950		11/09/22		265,626
	250,000	Cooperatieve Rabobank UA/NY		3.125		04/26/21		254,028
	250,000	Cooperatieve Rabobank UA/NY		2.750		01/10/23		262,812
	500,000	Discover Bank		3.350		02/06/23		528,879
	250,000	Discover Bank		4.682		08/09/28		262,085

333

TIAA-CREF FUNDS – Short-Term Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE
$	300,000	Fifth Third Bancorp		1.625	%	05/05/23	$	308,021
	250,000	First Horizon National Corp		3.550		05/26/23		263,055
	250,000	First Republic Bank		1.912		02/12/24		256,940
	175,000	FNB Corp		2.200		02/24/23		176,550
	350,000	HSBC Holdings plc		4.000		03/30/22		367,515
	500,000	HSBC Holdings plc		3.262		03/13/23		516,992
	380,000	HSBC Holdings plc		3.033		11/22/23		396,367
	500,000	HSBC Holdings plc		3.950		05/18/24		535,721
	250,000	Huntington National Bank		3.250		05/14/21		253,941
	250,000	Huntington National Bank		3.125		04/01/22		259,597
	250,000	Huntington National Bank		1.800		02/03/23		256,922
	300,000	Industrial & Commercial Bank of China Ltd		2.957		11/08/22		311,429
	200,000	ING Groep NV		3.150		03/29/22		207,541
	140,000	JPMorgan Chase & Co		3.250		09/23/22		147,965
	500,000	JPMorgan Chase & Co		3.200		01/25/23		531,201
	1,450,000	JPMorgan Chase & Co		3.207		04/01/23		1,506,594
	250,000	JPMorgan Chase & Co		2.776		04/25/23		258,525
	1,000,000	JPMorgan Chase & Co		3.559		04/23/24		1,072,678
	500,000	JPMorgan Chase & Co		1.514		06/01/24		510,816
	700,000	JPMorgan Chase & Co		3.797		07/23/24		758,243
	500,000	JPMorgan Chase & Co		0.653		09/16/24		500,151
	250,000	KeyBank NA		3.300		02/01/22		259,831
	250,000	KeyBank NA		3.375		03/07/23		266,654
	250,000	KeyBank NA		1.250		03/10/23		254,601
	700,000	Lloyds Bank plc		2.250		08/14/22		720,983
	200,000	Lloyds Banking Group plc		2.858		03/17/23		205,590
	150,000	Lloyds Banking Group plc		1.326		06/15/23		151,087
	300,000	Lloyds Banking Group plc		4.050		08/16/23		325,411
	300,000	Lloyds Banking Group plc		2.907		11/07/23		311,801
	100,000	Mitsubishi UFJ Financial Group, Inc		3.535		07/26/21		102,550
	300,000	Mitsubishi UFJ Financial Group, Inc		2.998		02/22/22		310,010
	300,000	Mitsubishi UFJ Financial Group, Inc		3.218		03/07/22		311,332
	700,000	Mitsubishi UFJ Financial Group, Inc		2.623		07/18/22		725,490
	350,000	Mitsubishi UFJ Financial Group, Inc		3.455		03/02/23		372,597
	500,000	Mitsubishi UFJ Financial Group, Inc		3.761		07/26/23		541,214
	300,000	Mitsubishi UFJ Financial Group, Inc		0.848		09/15/24		300,091
	300,000	Mizuho Financial Group, Inc		2.953		02/28/22		310,036
	250,000	Mizuho Financial Group, Inc		2.601		09/11/22		259,554
	200,000	Mizuho Financial Group, Inc		2.721		07/16/23		207,122
	750,000	Mizuho Financial Group, Inc		0.849		09/08/24		747,761
	250,000	MUFG Union Bank NA		3.150		04/01/22		259,464
	250,000	MUFG Union Bank NA		2.100		12/09/22		258,290
	250,000	National Australia Bank Ltd		3.700		11/04/21		258,883
	500,000	National Australia Bank Ltd		1.875		12/13/22		516,383
	500,000	National Australia Bank Ltd		3.625		06/20/23		541,204
	250,000	National Bank of Canada		2.100		02/01/23		258,440
	250,000	National Bank of Canada		0.900		08/15/23		250,989
	750,000	PNC Bank NA		2.625		02/17/22		772,677
	250,000	PNC Bank NA		2.232		07/22/22		253,560
	250,000	PNC Bank NA		2.028		12/09/22		254,679
	250,000	PNC Bank NA		1.743		02/24/23		254,503
	500,000	PNC Bank NA		3.500		06/08/23		538,164
	300,000	Royal Bank of Canada		3.200		04/30/21		305,095
	500,000	Royal Bank of Canada		2.750		02/01/22		516,410

334

TIAA-CREF FUNDS – Short-Term Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE
$	100,000	Royal Bank of Canada		2.800	%	04/29/22	$	103,739
	250,000	Royal Bank of Canada		1.950		01/17/23		258,382
	200,000	Royal Bank of Canada		1.600		04/17/23		205,234
	300,000	Royal Bank of Scotland Group plc		3.498		05/15/23		310,691
	250,000	Royal Bank of Scotland Group plc		2.359		05/22/24		256,498
	1,000,000	Royal Bank of Scotland Group plc		4.519		06/25/24		1,077,752
	200,000	Santander Holdings USA, Inc		3.400		01/18/23		209,380
	150,000	Santander Holdings USA, Inc		3.244		10/05/26		160,471
	200,000	Santander UK Group Holdings plc		2.875		10/16/20		200,192
	200,000	Santander UK plc		3.400		06/01/21		204,096
	200,000	Santander UK plc		3.750		11/15/21		207,033
	350,000	Santander UK plc		2.100		01/13/23		361,170
	300,000	Skandinaviska Enskilda Banken AB		2.800		03/11/22		310,164
	800,000	Sumitomo Mitsui Financial Group, Inc		2.784		07/12/22		831,324
	200,000	Sumitomo Mitsui Financial Group, Inc		2.778		10/18/22		208,734
	502,000	Sumitomo Mitsui Financial Group, Inc		3.102		01/17/23		529,968
	500,000	Sumitomo Mitsui Financial Group, Inc		3.748		07/19/23		541,752
	250,000	Svenska Handelsbanken AB		3.350		05/24/21		255,032
	300,000	Svenska Handelsbanken AB		1.875		09/07/21		304,428
	250,000	Synchrony Bank		3.650		05/24/21		253,787
	250,000	Synovus Bank		2.289		02/10/23		253,013
	250,000	Toronto-Dominion Bank		3.250		06/11/21		255,158
	400,000	Toronto-Dominion Bank		1.900		12/01/22		412,858
	500,000	Toronto-Dominion Bank		0.750		06/12/23		502,864
	300,000	Toronto-Dominion Bank		0.450		09/11/23		299,425
	100,000	Truist Bank		3.525		10/26/21		100,201
	250,000	Truist Bank		2.800		05/17/22		259,381
	200,000	Truist Bank		3.502		08/02/22		205,100
	550,000	Truist Bank		1.250		03/09/23		559,856
	100,000	Truist Financial Corp		3.200		09/03/21		102,448
	300,000	Truist Financial Corp		2.750		04/01/22		309,909
	200,000	Truist Financial Corp		3.050		06/20/22		208,605
	250,000	Truist Financial Corp		2.200		03/16/23		260,073
	500,000	US Bancorp		2.625		01/24/22		514,251
	800,000	US Bancorp		2.950		07/15/22		835,310
	500,000	US Bank NA		3.400		07/24/23		539,795
	250,000	Wells Fargo Bank NA		3.625		10/22/21		257,773
	350,000	Wells Fargo Bank NA		2.897		05/27/22		355,497
	500,000	Wells Fargo Bank NA		2.082		09/09/22		507,080
	550,000	Westpac Banking Corp		2.500		06/28/22		571,123
	400,000	Westpac Banking Corp		2.000		01/13/23		414,628
		TOTAL BANKS						53,707,973
CAPITAL GOODS - 1.5%
	100,000	3M Co		3.000		09/14/21		102,422
	100,000	3M Co		2.750		03/01/22		103,326
	500,000	3M Co		1.750		02/14/23		516,964
	200,000	ABB Finance USA, Inc		3.375		04/03/23		214,008
	100,000	Air Lease Corp		2.500		03/01/21		100,602
	100,000	Air Lease Corp		3.500		01/15/22		102,587
	350,000	Air Lease Corp		2.250		01/15/23		350,729
	300,000	Air Lease Corp		3.875		07/03/23		312,484
	250,000	Aircastle Ltd		5.125		03/15/21		253,651

335

TIAA-CREF FUNDS – Short-Term Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	375,000	g	Carrier Global Corp		1.923	%	02/15/23	$	385,815
	250,000		Caterpillar Financial Services Corp		2.650		05/17/21		253,659
	200,000		Caterpillar Financial Services Corp		3.150		09/07/21		205,432
	150,000		Caterpillar Financial Services Corp		2.950		02/26/22		155,572
	750,000		Caterpillar Financial Services Corp		1.900		09/06/22		771,143
	750,000		Caterpillar Financial Services Corp		0.650		07/07/23		753,041
	300,000		Caterpillar Financial Services Corp		0.450		09/14/23		299,991
	200,000		CNH Industrial Capital LLC		3.875		10/15/21		205,439
	100,000		CNH Industrial Capital LLC		1.950		07/02/23		101,623
	200,000		CNH Industrial NV		4.500		08/15/23		217,227
	250,000		Eaton Corp		2.750		11/02/22		261,986
	200,000		Fortive Corp		2.350		06/15/21		202,313
	460,000		General Dynamics Corp		3.375		05/15/23		494,360
	550,000		General Electric Co		2.700		10/09/22		569,459
	200,000		General Electric Co		3.100		01/09/23		209,868
	200,000		Honeywell International, Inc		1.850		11/01/21		203,158
	750,000		Honeywell International, Inc		0.483		08/19/22		751,185
	100,000		Ingersoll-Rand Global Holding Co Ltd		2.900		02/21/21		100,960
	100,000		John Deere Capital Corp		3.125		09/10/21		102,714
	100,000		John Deere Capital Corp		3.200		01/10/22		103,585
	250,000		John Deere Capital Corp		2.950		04/01/22		259,783
	100,000		John Deere Capital Corp		1.950		06/13/22		102,759
	250,000		John Deere Capital Corp		0.550		07/05/22		251,280
	250,000		John Deere Capital Corp		2.700		01/06/23		262,681
	525,000		John Deere Capital Corp		1.200		04/06/23		535,260
	250,000		John Deere Capital Corp		0.700		07/05/23		252,077
	250,000		L3Harris Technologies, Inc		4.950		02/15/21		251,362
	250,000		Lockheed Martin Corp		3.100		01/15/23		265,083
	500,000		Northrop Grumman Corp		2.550		10/15/22		520,631
	200,000	g	Raytheon Technologies Corp		2.800		03/15/22		206,196
	160,000	g	Raytheon Technologies Corp		2.500		12/15/22		165,986
	100,000		Roper Technologies, Inc		3.000		12/15/20		100,302
	500,000		Roper Technologies, Inc		0.450		08/15/22		499,910
	200,000		Stanley Black & Decker, Inc		2.900		11/01/22		209,961
			TOTAL CAPITAL GOODS						12,288,574
COMMERCIAL & PROFESSIONAL SERVICES - 0.1%
	100,000		Equifax, Inc		3.600		08/15/21		102,624
	100,000	g	Leidos, Inc		2.950		05/15/23		105,068
	200,000		RELX Capital, Inc		3.500		03/16/23		212,695
	300,000		Republic Services, Inc		4.750		05/15/23		329,911
	150,000		Waste Management, Inc		4.600		03/01/21		151,076
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES						901,374
CONSUMER DURABLES & APPAREL - 0.0%
	100,000		DR Horton, Inc		2.550		12/01/20		100,338
	300,000		DR Horton, Inc		4.375		09/15/22		318,205
	200,000		Ralph Lauren Corp		1.700		06/15/22		203,586
	125,000		VF Corp		2.050		04/23/22		128,141
			TOTAL CONSUMER DURABLES & APPAREL						750,270
CONSUMER SERVICES - 0.3%
	250,000		Marriott International, Inc		3.125		10/15/21		253,387

336

TIAA-CREF FUNDS – Short-Term Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE
$	300,000	McDonald’s Corp		2.625	%	01/15/22	$	308,742
	300,000	McDonald’s Corp		3.350		04/01/23		320,282
	1,000,000	Sands China Ltd		4.600		08/08/23		1,066,110
	100,000	Starbucks Corp		1.300		05/07/22		101,294
	200,000	Starbucks Corp		3.100		03/01/23		211,833
		TOTAL CONSUMER SERVICES						2,261,648
DIVERSIFIED FINANCIALS - 4.9%
	200,000	AerCap Ireland Capital DAC		5.000		10/01/21		206,137
	150,000	AerCap Ireland Capital DAC		4.450		12/16/21		153,256
	300,000	AerCap Ireland Capital DAC		3.950		02/01/22		303,713
	250,000	AerCap Ireland Capital DAC		4.500		09/15/23		257,559
	500,000	AerCap Ireland Capital DAC		3.150		02/15/24		495,793
	300,000	Ally Financial, Inc		4.125		02/13/22		311,250
	200,000	Ally Financial, Inc		3.050		06/05/23		207,811
	300,000	Ally Financial, Inc		1.450		10/02/23		299,252
	300,000	American Express Co		3.375		05/17/21		304,923
	200,000	American Express Co		3.700		11/05/21		206,557
	190,000	American Express Co		2.650		12/02/22		199,027
	800,000	American Express Co		3.400		02/27/23		851,605
	200,000	American Honda Finance Corp		3.375		12/10/21		206,856
	250,000	American Honda Finance Corp		1.950		05/20/22		256,186
	250,000	American Honda Finance Corp		1.994		01/10/23		258,408
	200,000	American Honda Finance Corp		1.950		05/10/23		207,020
	750,000	American Honda Finance Corp		0.875		07/07/23		756,116
	300,000	American Honda Finance Corp		0.650		09/08/23		299,896
	100,000	Ameriprise Financial, Inc		3.000		03/22/22		103,760
	300,000	Ares Capital Corp		3.500		02/10/23		307,914
	250,000	Australia & New Zealand Banking Group Ltd		3.300		05/17/21		254,796
	300,000	Australia & New Zealand Banking Group Ltd		2.625		05/19/22		311,351
	250,000	Australia & New Zealand Banking Group Ltd		2.050		11/21/22		258,700
	125,000	Bank of Montreal		3.100		04/13/21		126,875
	500,000	Bank of Montreal		2.900		03/26/22		518,718
	500,000	Bank of Montreal		2.050		11/01/22		517,109
	300,000	Bank of New York Mellon Corp		2.500		04/15/21		303,059
	300,000	Bank of New York Mellon Corp		2.600		02/07/22		308,667
	100,000	Bank of New York Mellon Corp		1.950		08/23/22		103,054
	250,000	Bank of New York Mellon Corp		1.850		01/27/23		257,938
	500,000	Bank of New York Mellon Corp		2.661		05/16/23		517,849
	800,000	Berkshire Hathaway, Inc		2.750		03/15/23		842,664
	200,000	BlackRock, Inc		3.375		06/01/22		209,987
	330,000	Capital One Bank USA NA		3.375		02/15/23		348,740
	100,000	Capital One Financial Corp		3.450		04/30/21		101,602
	1,000,000	Capital One Financial Corp		2.600		05/11/23		1,046,455
	100,000	Celanese US Holdings LLC		4.625		11/15/22		107,538
	200,000	Charles Schwab Corp		3.250		05/21/21		203,203
	350,000	Charles Schwab Corp		2.650		01/25/23		366,949
	750,000	Credit Suisse AG.		2.100		11/12/21		764,121
	250,000	Credit Suisse AG.		2.800		04/08/22		258,867
	1,000,000	Credit Suisse AG.		1.000		05/05/23		1,010,380
	250,000	Credit Suisse Group Funding Guernsey Ltd		3.450		04/16/21		254,185
	200,000	Deutsche Bank AG.		3.125		01/13/21		201,039
	300,000	Deutsche Bank AG.		3.150		01/22/21		301,828

337

TIAA-CREF FUNDS – Short-Term Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE
$	650,000	Deutsche Bank AG.		4.250	%	02/04/21	$	656,899
	150,000	Deutsche Bank AG.		5.000		02/14/22		156,908
	350,000	Deutsche Bank AG.		3.300		11/16/22		361,925
	250,000	Deutsche Bank AG.		3.950		02/27/23		262,574
	300,000	Deutsche Bank AG.		2.222		09/18/24		301,969
	200,000	Diageo Investment Corp		2.875		05/11/22		207,875
	140,000	Discover Financial Services		3.850		11/21/22		149,283
	500,000	GE Capital International Funding Co		2.342		11/15/20		501,119
	100,000	General Motors Financial Co, Inc		2.450		11/06/20		100,160
	300,000	General Motors Financial Co, Inc		4.200		03/01/21		303,671
	400,000	General Motors Financial Co, Inc		3.550		04/09/21		405,476
	250,000	General Motors Financial Co, Inc		4.200		11/06/21		258,129
	650,000	General Motors Financial Co, Inc		3.550		07/08/22		672,201
	300,000	General Motors Financial Co, Inc		3.250		01/05/23		310,029
	600,000	General Motors Financial Co, Inc		5.200		03/20/23		650,865
	500,000	General Motors Financial Co, Inc		1.700		08/18/23		501,875
	1,000,000	Goldman Sachs Group, Inc		5.750		01/24/22		1,067,433
	250,000	Goldman Sachs Group, Inc		3.000		04/26/22		253,605
	1,709,000	Goldman Sachs Group, Inc		3.200		02/23/23		1,809,084
	700,000	IBM Credit LLC		3.000		02/06/23		743,906
	500,000	Intercontinental Exchange, Inc		0.700		06/15/23		501,198
	300,000	International Lease Finance Corp		5.875		08/15/22		320,998
	250,000	Jefferies Group LLC		5.125		01/20/23		272,165
	750,000	Landwirtschaftliche Rentenbank		1.750		09/24/21		761,110
	250,000	Moody’s Corp		2.625		01/15/23		261,345
	800,000	Morgan Stanley		5.500		07/28/21		833,621
	500,000	Morgan Stanley		2.750		05/19/22		518,147
	1,480,000	Morgan Stanley		3.125		01/23/23		1,565,030
	1,000,000	Morgan Stanley		3.737		04/24/24		1,076,096
	200,000	National Rural Utilities Cooperative Finance Corp		1.750		01/21/22		203,772
	200,000	National Rural Utilities Cooperative Finance Corp		2.400		04/25/22		205,960
	200,000	Northern Trust Corp		2.375		08/02/22		207,503
	125,000	Oesterreichische Kontrollbank AG.		2.875		09/07/21		128,042
	250,000	Oesterreichische Kontrollbank AG.		2.625		01/31/22		257,844
	300,000	Oesterreichische Kontrollbank AG.		1.625		09/17/22		307,879
	1,300,000	Oesterreichische Kontrollbank AG.		2.875		03/13/23		1,381,423
	100,000	PACCAR Financial Corp		2.850		03/01/22		103,499
	100,000	PACCAR Financial Corp		2.650		05/10/22		103,632
	200,000	PACCAR Financial Corp		2.000		09/26/22		206,198
	300,000	PACCAR Financial Corp		0.800		06/08/23		302,100
	68,000	Shire Acquisitions Investments Ireland DAC		2.400		09/23/21		69,227
	300,000	State Street Corp		2.653		05/15/23		310,585
	100,000	Synchrony Financial		2.850		07/25/22		103,000
	200,000	Toyota Motor Credit Corp		3.400		09/15/21		205,832
	300,000	Toyota Motor Credit Corp		1.800		10/07/21		304,274
	250,000	Toyota Motor Credit Corp		2.600		01/11/22		257,336
	750,000	Toyota Motor Credit Corp		0.450		07/22/22		751,529
	500,000	Toyota Motor Credit Corp		2.900		03/30/23		530,455
	500,000	Toyota Motor Credit Corp		0.500		08/14/23		500,121
	500,000	Toyota Motor Credit Corp		1.350		08/25/23		513,040
	100,000	Unilever Capital Corp		3.000		03/07/22		103,816
	200,000	Unilever Capital Corp		3.125		03/22/23		213,362
	300,000	Unilever Capital Corp		0.375		09/14/23		300,521
	1,100,000	Wells Fargo & Co		2.625		07/22/22		1,141,089

338

TIAA-CREF FUNDS – Short-Term Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE
$	500,000	Wells Fargo & Co		3.069	%	01/24/23	$	515,694
	500,000	Wells Fargo & Co		3.450		02/13/23		529,871
	900,000	Wells Fargo & Co		4.125		08/15/23		980,393
	400,000	Wells Fargo & Co		1.654		06/02/24		407,466
		TOTAL DIVERSIFIED FINANCIALS						42,618,872
ENERGY - 1.6%
	180,000	Baker Hughes a GE Co LLC		2.773		12/15/22		188,198
	610,000	BP Capital Markets America, Inc		3.245		05/06/22		636,784
	200,000	BP Capital Markets America, Inc		2.937		04/06/23		211,528
	500,000	BP Capital Markets America, Inc		2.750		05/10/23		527,084
	400,000	BP Capital Markets plc		3.561		11/01/21		413,781
	250,000	Canadian Natural Resources Ltd		2.950		01/15/23		259,975
	500,000	Chevron Corp		2.498		03/03/22		514,588
	160,000	Chevron Corp		2.355		12/05/22		166,088
	800,000	Chevron Corp		1.141		05/11/23		815,416
	200,000	Enbridge, Inc		2.900		07/15/22		207,577
	600,000	Energy Transfer Operating LP		5.200		02/01/22		621,265
	300,000	Energy Transfer Operating LP		4.250		03/15/23		311,906
	200,000	Energy Transfer Operating LP		4.200		09/15/23		210,745
	100,000	Enterprise Products Operating LLC		2.800		02/15/21		100,899
	300,000	Enterprise Products Operating LLC		3.500		02/01/22		311,637
	300,000	Enterprise Products Operating LLC		3.350		03/15/23		317,473
	200,000	EOG Resources, Inc		4.100		02/01/21		202,508
	400,000	Equinor ASA		2.450		01/17/23		418,267
	375,000	Exxon Mobil Corp		1.902		08/16/22		386,107
	600,000	Exxon Mobil Corp		1.571		04/15/23		617,101
	200,000	Halliburton Co		3.500		08/01/23		211,882
	200,000	HollyFrontier Corp		2.625		10/01/23		200,523
	450,000	Kinder Morgan Energy Partners LP		3.950		09/01/22		474,215
	100,000	Kinder Morgan, Inc		3.150		01/15/23		104,966
	150,000	Marathon Oil Corp		2.800		11/01/22		153,644
	200,000	Marathon Petroleum Corp		5.125		03/01/21		203,474
	200,000	Marathon Petroleum Corp		4.500		05/01/23		215,954
	300,000	MPLX LP		3.375		03/15/23		316,090
	250,000	Phillips 66		4.300		04/01/22		263,658
	200,000	Phillips 66		3.700		04/06/23		214,079
	200,000	Plains All American Pipeline LP		3.650		06/01/22		204,810
	500,000	Sabine Pass Liquefaction LLC		5.625		04/15/23		547,653
	250,000	Shell International Finance BV		1.750		09/12/21		253,501
	300,000	Shell International Finance BV		2.250		01/06/23		312,143
	500,000	Shell International Finance BV		0.375		09/15/23		498,049
	300,000	Suncor Energy, Inc		2.800		05/15/23		314,484
	300,000	Total Capital Canada Ltd		2.750		07/15/23		318,776
	300,000	Total Capital International S.A.		2.875		02/17/22		310,110
	200,000	TransCanada PipeLines Ltd		2.500		08/01/22		206,247
	200,000	Valero Energy Corp		2.700		04/15/23		207,509
	300,000	Valero Energy Corp		1.200		03/15/24		298,727
	500,000	Williams Partners LP		3.600		03/15/22		517,272
		TOTAL ENERGY						13,786,693
FOOD & STAPLES RETAILING - 0.2%
	300,000	Kroger Co		2.800		08/01/22		311,676
	200,000	SYSCO Corp		2.600		06/12/22		206,684

339

TIAA-CREF FUNDS – Short-Term Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE
$	200,000	Walgreen Co		3.100	%	09/15/22	$	209,369
	200,000	Walgreens Boots Alliance, Inc		3.300		11/18/21		205,098
	260,000	Walmart, Inc		2.350		12/15/22		271,208
	300,000	Walmart, Inc		3.400		06/26/23		323,700
		TOTAL FOOD & STAPLES RETAILING						1,527,735
FOOD, BEVERAGE & TOBACCO - 1.0%
	200,000	Altria Group, Inc		4.750		05/05/21		205,026
	150,000	Altria Group, Inc		3.490		02/14/22		155,874
	200,000	Altria Group, Inc		2.850		08/09/22		208,101
	500,000	Anheuser-Busch InBev Finance, Inc		3.300		02/01/23		529,427
	200,000	Bunge Ltd		3.500		11/24/20		200,876
	500,000	Campbell Soup Co		3.650		03/15/23		535,260
	300,000	Coca-Cola Co		2.500		04/01/23		316,762
	100,000	ConAgra Brands, Inc		3.800		10/22/21		103,402
	250,000	ConAgra Brands, Inc		3.200		01/25/23		263,277
	200,000	Constellation Brands, Inc		2.650		11/07/22		207,132
	100,000	Constellation Brands, Inc		3.200		02/15/23		105,726
	300,000	Diageo Capital plc		2.625		04/29/23		314,700
	100,000	General Mills, Inc		3.200		04/16/21		101,484
	200,000	General Mills, Inc		2.600		10/12/22		208,098
	200,000	JM Smucker Co		3.000		03/15/22		207,380
	200,000	Keurig Dr Pepper, Inc		3.551		05/25/21		204,006
	300,000	Keurig Dr Pepper, Inc		4.057		05/25/23		326,174
	110,000	McCormick & Co, Inc		2.700		08/15/22		114,539
	250,000	Molson Coors Brewing Co		3.500		05/01/22		259,908
	750,000	Mondelez International, Inc		0.625		07/01/22		752,585
	100,000	Mondelez International, Inc		2.125		04/13/23		103,787
	300,000	PepsiCo, Inc		3.100		07/17/22		313,848
	400,000	PepsiCo, Inc		2.750		03/01/23		423,004
	750,000	PepsiCo, Inc		0.750		05/01/23		758,091
	300,000	Philip Morris International, Inc		2.900		11/15/21		308,090
	250,000	Philip Morris International, Inc		2.375		08/17/22		257,513
	750,000	Philip Morris International, Inc		1.125		05/01/23		761,461
	200,000	Philip Morris International, Inc		2.125		05/10/23		207,202
	440,000	Reynolds American, Inc		4.000		06/12/22		463,746
	200,000	Reynolds American, Inc		4.850		09/15/23		223,131
	300,000	Tyson Foods, Inc		4.500		06/15/22		317,672
		TOTAL FOOD, BEVERAGE & TOBACCO						9,457,282
HEALTH CARE EQUIPMENT & SERVICES - 0.9%
	800,000	Anthem, Inc		2.950		12/01/22		840,177
	300,000	Becton Dickinson & Co		2.894		06/06/22		310,358
	250,000	Cardinal Health, Inc		2.616		06/15/22		257,983
	300,000	Cigna Corp		3.400		09/17/21		308,734
	950,000	Cigna Corp		3.750		07/15/23		1,029,418
	670,000	CVS Health Corp		3.500		07/20/22		702,699
	430,000	CVS Health Corp		3.700		03/09/23		460,597
	300,000	HCA, Inc		4.750		05/01/23		327,245
	300,000	Humana, Inc		2.900		12/15/22		313,824
	200,000	Laboratory Corp of America Holdings		3.750		08/23/22		210,269
	197,000	Medtronic, Inc		3.150		03/15/22		204,866
	300,000	Medtronic, Inc		2.750		04/01/23		315,592
	500,000	UnitedHealth Group, Inc		2.875		03/15/22		515,136
	100,000	UnitedHealth Group, Inc		2.375		10/15/22		103,978

340

TIAA-CREF FUNDS – Short-Term Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	300,000		UnitedHealth Group, Inc		2.875	%	03/15/23	$	317,769
	300,000		UnitedHealth Group, Inc		3.500		06/15/23		324,158
	150,000		Zimmer Biomet Holdings, Inc		3.150		04/01/22		155,142
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						6,697,945
HOUSEHOLD & PERSONAL PRODUCTS - 0.2%
	750,000		Colgate-Palmolive Co		1.950		02/01/23		775,824
	300,000		Procter & Gamble Co		2.300		02/06/22		308,200
	200,000		Procter & Gamble Co		2.150		08/11/22		207,075
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS						1,291,099
INSURANCE - 0.3%
	150,000		Aetna, Inc		2.750		11/15/22		156,078
	500,000		Aetna, Inc		2.800		06/15/23		526,869
	200,000		Allstate Corp		5.750		08/15/53		207,754
	300,000		American International Group, Inc		4.875		06/01/22		321,559
	200,000		Aon Corp		2.200		11/15/22		206,922
	250,000		Berkshire Hathaway Finance Corp		3.000		05/15/22		260,679
	500,000		Chubb INA Holdings, Inc		2.875		11/03/22		522,974
	300,000		Prudential Financial, Inc		5.875		09/15/42		315,935
	500,000		Prudential Financial, Inc		5.625		06/15/43		531,025
			TOTAL INSURANCE						3,049,795
MATERIALS - 0.3%
	500,000		BHP Billiton Finance USA Ltd		2.875		02/24/22		516,594
	200,000		Domtar Corp		4.400		04/01/22		205,584
	575,000		DuPont de Nemours, Inc		2.169		05/01/23		580,349
	100,000		Eastman Chemical Co		3.500		12/01/21		103,039
	200,000		Ecolab, Inc		2.375		08/10/22		207,120
	500,000		LyondellBasell Industries NV		6.000		11/15/21		523,226
	120,000		Mosaic Co		3.250		11/15/22		125,404
	300,000		Nucor Corp		4.125		09/15/22		318,191
	300,000		Nutrien Ltd		1.900		05/13/23		309,663
	200,000		Praxair, Inc		2.200		08/15/22		205,916
	15,000		Sherwin-Williams Co		2.750		06/01/22		15,526
			TOTAL MATERIALS						3,110,612
MEDIA & ENTERTAINMENT - 0.5%
	250,000	g	Blackstone		3.650		07/14/23		251,923
	690,000		Charter Communications Operating LLC		4.464		07/23/22		730,483
	200,000		DH Europe Finance II Sarl		2.050		11/15/22		206,259
	158,000		Discovery Communications LLC		2.950		03/20/23		166,439
	100,000		Fox Corp		3.666		01/25/22		104,233
	100,000		Interpublic Group of Cos, Inc		3.500		10/01/20		100,000
	100,000		Interpublic Group of Cos, Inc		3.750		10/01/21		103,156
	300,000		Omnicom Group, Inc		3.625		05/01/22		314,176
	250,000		Time Warner Cable LLC		4.000		09/01/21		255,356
	200,000		Time Warner Entertainment Co LP		8.375		03/15/23		235,025
	175,000	g	Upjohn, Inc		1.125		06/22/22		176,333
	300,000		ViacomCBS, Inc		4.250		09/01/23		326,792
	300,000		Walt Disney Co		2.550		02/15/22		308,754
	500,000		Walt Disney Co		3.000		09/15/22		524,789
	200,000		WPP Finance 2010		3.625		09/07/22		209,891
			TOTAL MEDIA & ENTERTAINMENT						4,013,609

341

TIAA-CREF FUNDS – Short-Term Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 1.4%
$	400,000		AbbVie, Inc		3.375	%	11/14/21	$	413,046
	750,000	g	AbbVie, Inc		2.150		11/19/21		763,996
	300,000	g	AbbVie, Inc		3.450		03/15/22		310,795
	300,000	g	AbbVie, Inc		3.250		10/01/22		313,685
	750,000	g	AbbVie, Inc		2.300		11/21/22		776,092
	500,000		AbbVie, Inc		2.850		05/14/23		525,939
	300,000		Agilent Technologies, Inc		3.875		07/15/23		324,822
	414,286		Amgen, Inc		3.875		11/15/21		426,300
	300,000		Amgen, Inc		2.650		05/11/22		310,146
	200,000		AstraZeneca plc		2.375		06/12/22		206,261
	150,000		Biogen, Inc		3.625		09/15/22		159,141
	500,000		Bristol-Myers Squibb Co		2.600		05/16/22		518,693
	850,000		Bristol-Myers Squibb Co		3.250		02/20/23		904,003
	300,000		Gilead Sciences, Inc		4.400		12/01/21		311,108
	200,000		Gilead Sciences, Inc		1.950		03/01/22		204,383
	300,000		Gilead Sciences, Inc		2.500		09/01/23		315,605
	275,000		Gilead Sciences, Inc		0.750		09/29/23		275,560
	500,000		GlaxoSmithKline Capital plc		2.875		06/01/22		519,538
	375,000		GlaxoSmithKline Capital plc		0.534		10/01/23		375,277
	500,000		GlaxoSmithKline Capital, Inc		3.375		05/15/23		538,290
	28,000		Johnson & Johnson		2.050		03/01/23		29,089
	250,000		Merck & Co, Inc		2.400		09/15/22		259,313
	500,000		Merck & Co, Inc		2.800		05/18/23		533,077
	20,000		Mylan NV		3.750		12/15/20		20,088
	300,000		Mylan NV		3.150		06/15/21		304,830
	300,000		Novartis Capital Corp		2.400		09/21/22		312,766
	100,000		Pfizer, Inc		3.000		09/15/21		102,626
	500,000		Pfizer, Inc		2.800		03/11/22		517,523
	500,000	g	Royalty Pharma plc		0.750		09/02/23		498,635
	500,000		Takeda Pharmaceutical Co Ltd		4.000		11/26/21		518,474
	300,000		Thermo Fisher Scientific, Inc		3.000		04/15/23		317,290
	100,000		Zoetis, Inc		3.250		08/20/21		102,456
	200,000		Zoetis, Inc		3.250		02/01/23		211,013
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						12,219,860
REAL ESTATE - 0.4%
	500,000		American Tower Corp		4.700		03/15/22		529,871
	300,000		American Tower Corp		3.500		01/31/23		318,854
	100,000		AvalonBay Communities, Inc		2.950		09/15/22		103,975
	200,000		Boston Properties LP		4.125		05/15/21		202,617
	300,000		Crown Castle International Corp		5.250		01/15/23		329,629
	300,000		Crown Castle International Corp		3.150		07/15/23		318,857
	100,000		Kimco Realty Corp		3.400		11/01/22		105,256
	200,000		Omega Healthcare Investors, Inc		4.375		08/01/23		214,434
	200,000		Simon Property Group LP		2.625		06/15/22		205,304
	500,000		Simon Property Group LP		2.750		06/01/23		523,177
	200,000		SL Green Operating Partnership LP		3.250		10/15/22		204,071
	300,000		Ventas Realty LP		3.125		06/15/23		313,875
			TOTAL REAL ESTATE						3,369,920
RETAILING - 0.6%
	200,000		Alibaba Group Holding Ltd		3.125		11/28/21		205,244
	200,000		Amazon.com, Inc		3.300		12/05/21		206,243

342

TIAA-CREF FUNDS – Short-Term Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	150,000		Amazon.com, Inc		2.500	%	11/29/22	$	156,373
	200,000		Amazon.com, Inc		2.400		02/22/23		209,670
	500,000		Amazon.com, Inc		0.400		06/03/23		502,273
	300,000		AutoZone, Inc		3.125		07/15/23		318,914
	300,000		Chevron USA, Inc		0.333		08/12/22		299,982
	400,000		Chevron USA, Inc		0.426		08/11/23		400,387
	200,000		Dollar General Corp		3.250		04/15/23		212,217
	200,000		Dollar Tree, Inc		3.700		05/15/23		215,063
	200,000		eBay, Inc		3.800		03/09/22		209,154
	306,000		eBay, Inc		2.750		01/30/23		320,881
	200,000	g	Expedia Group, Inc		3.600		12/15/23		204,326
	500,000		Home Depot, Inc		3.250		03/01/22		520,806
	400,000		Lowe’s Cos, Inc		3.750		04/15/21		404,046
	200,000		O’Reilly Automotive, Inc		3.800		09/01/22		210,737
	250,000		Target Corp		2.900		01/15/22		258,648
			TOTAL RETAILING						4,854,964
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.2%
	500,000		Broadcom, Inc		2.250		11/15/23		519,782
	200,000		Intel Corp		3.100		07/29/22		210,211
	300,000		Intel Corp		2.700		12/15/22		315,810
	200,000		Microchip Technology, Inc		4.333		06/01/23		215,406
	200,000		Micron Technology, Inc		2.497		04/24/23		207,677
	200,000		Texas Instruments, Inc		1.850		05/15/22		204,934
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT						1,673,820
SOFTWARE & SERVICES - 1.0%
	100,000		Adobe, Inc		1.700		02/01/23		103,108
	200,000		Baidu, Inc		3.500		11/28/22		209,604
	150,000		DXC Technology Co		4.000		04/15/23		157,946
	200,000		Fiserv, Inc		3.500		10/01/22		210,887
	300,000		Global Payments, Inc		4.000		06/01/23		325,467
	840,000		International Business Machines Corp		2.850		05/13/22		874,509
	500,000		Intuit, Inc		0.650		07/15/23		502,620
	360,000		Microsoft Corp		2.650		11/03/22		376,510
	1,000,000		Microsoft Corp		2.375		05/01/23		1,049,120
	400,000		Oracle Corp		1.900		09/15/21		405,693
	1,130,000		Oracle Corp		2.500		05/15/22		1,165,331
	120,000		Oracle Corp		2.500		10/15/22		125,092
	475,000		Oracle Corp		2.625		02/15/23		496,115
	175,000		PayPal Holdings, Inc		2.200		09/26/22		180,910
	500,000		PayPal Holdings, Inc		1.350		06/01/23		510,684
	300,000		salesforce.com, Inc		3.250		04/11/23		321,616
	180,000		Visa, Inc		2.150		09/15/22		186,323
	300,000		Visa, Inc		2.800		12/14/22		315,268
	190,000		VMware, Inc		2.950		08/21/22		197,804
			TOTAL SOFTWARE & SERVICES						7,714,607
TECHNOLOGY HARDWARE & EQUIPMENT - 0.7%
	700,000		Apple, Inc		2.150		02/09/22		717,634
	375,000		Apple, Inc		1.700		09/11/22		385,127
	500,000		Apple, Inc		2.100		09/12/22		516,636
	500,000		Apple, Inc		2.400		05/03/23		526,132
	1,000,000		Apple, Inc		0.750		05/11/23		1,008,624

343

TIAA-CREF FUNDS – Short-Term Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	250,000		Cisco Systems, Inc		1.850	%	09/20/21	$	253,450
	600,000		Cisco Systems, Inc		3.000		06/15/22		628,349
	162,000	g	Dell International LLC		4.420		06/15/21		165,827
	600,000	g	Dell International LLC		5.450		06/15/23		657,804
	100,000		Hewlett Packard Enterprise Co		3.500		10/05/21		102,844
	300,000		Hewlett Packard Enterprise Co		2.250		04/01/23		309,603
	200,000		Hewlett Packard Enterprise Co		4.450		10/02/23		219,922
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						5,491,952
TELECOMMUNICATION SERVICES - 0.1%
	200,000		America Movil SAB de C.V.		3.125		07/16/22		208,314
	100,000		AT&T, Inc		2.625		12/01/22		104,158
	500,000		Verizon Communications, Inc		5.150		09/15/23		565,374
	300,000		Vodafone Group plc		2.950		02/19/23		315,355
			TOTAL TELECOMMUNICATION SERVICES						1,193,201
TRANSPORTATION - 0.5%
	100,000		Boeing Co		2.300		08/01/21		101,314
	200,000		Boeing Co		2.700		05/01/22		203,937
	800,000		Boeing Co		4.508		05/01/23		842,199
	400,000		Burlington Northern Santa Fe LLC		3.050		09/01/22		417,864
	100,000		FedEx Corp		3.400		01/14/22		103,654
	150,000		Norfolk Southern Corp		3.000		04/01/22		155,143
	200,000		Ryder System, Inc		3.500		06/01/21		204,092
	200,000		Ryder System, Inc		2.875		06/01/22		207,219
	300,000		Ryder System, Inc		3.750		06/09/23		322,445
	450,000		Southwest Airlines Co		4.750		05/04/23		480,537
	200,000		Union Pacific Corp		2.950		03/01/22		207,343
	200,000		Union Pacific Corp		3.500		06/08/23		215,570
	250,000		United Parcel Service, Inc		2.450		10/01/22		261,085
	300,000		United Parcel Service, Inc		2.500		04/01/23		314,824
			TOTAL TRANSPORTATION						4,037,226
UTILITIES - 1.3%
	200,000		Alabama Power Co		2.450		03/30/22		205,523
	200,000		Baltimore Gas & Electric Co		3.350		07/01/23		213,423
	350,000		Berkshire Hathaway Energy Co		2.800		01/15/23		368,158
	100,000		CenterPoint Energy, Inc		3.600		11/01/21		103,252
	250,000		CenterPoint Energy, Inc		2.500		09/01/22		258,344
	200,000		Dominion Energy, Inc		2.750		01/15/22		205,081
	125,000		Dominion Energy, Inc (Step Bond)		2.715		08/15/21		127,287
	200,000		DTE Energy Co		2.600		06/15/22		206,559
	750,000	h	DTE Energy Co		0.550		11/01/22		749,740
	125,000		DTE Energy Co		2.250		11/01/22		129,226
	100,000		Duke Energy Carolinas LLC		3.350		05/15/22		104,854
	350,000		Duke Energy Carolinas LLC		3.050		03/15/23		371,593
	200,000		Duke Energy Corp		1.800		09/01/21		202,418
	300,000		Duke Energy Corp		2.400		08/15/22		310,075
	200,000		Edison International		2.400		09/15/22		203,864
	100,000		Edison International		3.125		11/15/22		103,134
	200,000		Emera US Finance LP		2.700		06/15/21		202,755
	120,000		Entergy Corp		4.000		07/15/22		126,564
	100,000		Eversource Energy		2.500		03/15/21		100,819
	160,000		Eversource Energy		2.750		03/15/22		165,045
	500,000		Exelon Corp		3.497		06/01/22		522,969

344

TIAA-CREF FUNDS – Short-Term Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE
$	500,000	FirstEnergy Corp		4.250	%	03/15/23	$	530,850
	100,000	Georgia Power Co		2.100		07/30/23		104,383
	200,000	NextEra Energy Capital Holdings, Inc		2.403		09/01/21		203,800
	500,000	NextEra Energy Capital Holdings, Inc		2.900		04/01/22		517,695
	200,000	Ohio Power Co		5.375		10/01/21		209,694
	120,000	Oncor Electric Delivery Co LLC		7.000		09/01/22		134,957
	250,000	ONEOK Partners LP		3.375		10/01/22		259,704
	750,000	Pacific Gas and Electric Co		1.750		06/16/22		750,725
	200,000	Pacific Gas and Electric Co		4.250		08/01/23		213,014
	100,000	PPL Capital Funding, Inc		3.500		12/01/22		105,432
	500,000	PSEG Power LLC		3.850		06/01/23		537,915
	200,000	Public Service Enterprise Group, Inc		2.000		11/15/21		202,936
	100,000	Public Service Enterprise Group, Inc		2.650		11/15/22		104,272
	200,000	Puget Energy, Inc		5.625		07/15/22		214,456
	110,000	Sempra Energy		2.875		10/01/22		114,131
	300,000	Southern Co		2.350		07/01/21		303,945
	300,000	Southern Co		2.950		07/01/23		318,781
	200,000	Virginia Electric & Power Co		2.750		03/15/23		209,514
	100,000	WEC Energy Group, Inc		3.375		06/15/21		102,145
	300,000	WEC Energy Group, Inc		3.100		03/08/22		311,585
	500,000	WEC Energy Group, Inc		0.550		09/15/23		501,275
	200,000	Williams Cos, Inc		3.700		01/15/23		211,356
	100,000	Wisconsin Public Service Corp		3.350		11/21/21		103,413
	140,000	Xcel Energy, Inc		2.600		03/15/22		143,942
	350,000	Xcel Energy, Inc		0.500		10/15/23		349,620
		TOTAL UTILITIES						11,740,223
		TOTAL CORPORATE BONDS						208,237,390
		(Cost $204,331,239)
GOVERNMENT BONDS -  75.1%
AGENCY SECURITIES - 3.4%
	1,500,000	Federal Farm Credit Bank (FFCB)		0.250		05/06/22		1,502,219
	2,801,000	FFCB		0.470		01/22/24		2,801,154
	3,000,000	Federal Home Loan Bank (FHLB)		3.000		10/12/21		3,088,748
	1,600,000	FHLB		1.625		11/19/21		1,626,545
	1,500,000	FHLB		1.625		12/20/21		1,527,362
	1,000,000	FHLB		0.250		06/03/22		1,002,115
	350,000	FHLB		0.125		08/12/22		349,765
	1,600,000	FHLB		1.375		02/17/23		1,644,738
	2,500,000	Federal Home Loan Mortgage Corp (FHLMC)		2.375		01/13/22		2,571,739
	1,000,000	FHLMC		0.125		07/25/22		999,492
	2,500,000	FHLMC		0.375		04/20/23		2,513,045
	500,000	FHLMC		0.375		05/05/23		502,111
	1,000,000	FHLMC		0.250		06/26/23		1,000,826
	1,500,000	Federal National Mortgage Association (FNMA)		2.625		01/11/22		1,547,683
	1,000,000	FNMA		2.000		10/05/22		1,037,207
	4,500,000	FNMA		0.250		05/22/23		4,502,912
		TOTAL AGENCY SECURITIES						28,217,661
FOREIGN GOVERNMENT BONDS - 7.1%
	150,000	African Development Bank		2.625		03/22/21		151,651
	500,000	African Development Bank		2.375		09/23/21		510,404
	600,000	African Development Bank		1.625		09/16/22		616,021

345

TIAA-CREF FUNDS – Short-Term Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE
$	850,000	African Development Bank		0.750	%	04/03/23	$	860,359
	400,000	Asian Development Bank		0.625		04/07/22		402,364
	2,500,000	Asian Development Bank		1.875		07/19/22		2,573,203
	1,250,000	Asian Development Bank		1.625		01/24/23		1,289,538
	1,750,000	Asian Development Bank		0.250		07/14/23		1,750,671
	500,000	Asian Development Bank		0.250		10/06/23		499,142
	750,000	Asian Infrastructure Investment Bank		0.250		09/29/23		748,256
	1,000,000	Canada Government International Bond		2.625		01/25/22		1,032,290
	300,000	Chile Government International Bond		2.250		10/30/22		309,375
	250,000	Colombia Government International Bond		2.625		03/15/23		255,938
	550,000	Corp Andina de Fomento		3.250		02/11/22		567,270
	500,000	Corp Andina de Fomento		2.375		05/12/23		518,520
	500,000	Council of Europe Development Bank		0.250		06/10/23		499,509
	300,000	European Bank for Reconstruction & Development		2.750		04/26/21		303,853
	500,000	European Bank for Reconstruction & Development		2.750		03/07/23		530,062
	1,000,000	European Bank for Reconstruction & Development		0.250		07/10/23		1,000,321
	500,000	European Investment Bank		2.625		05/20/22		519,659
	2,750,000	European Investment Bank		1.375		09/06/22		2,810,687
	2,707,000	European Investment Bank		1.375		05/15/23		2,787,698
	560,000	European Investment Bank		0.250		09/15/23		559,739
	500,000	Export Development Canada		2.000		05/17/22		514,139
	1,800,000	Export Development Canada		1.375		02/24/23		1,847,764
	250,000	Export-Import Bank of Korea		2.500		11/01/20		250,321
	250,000	Export-Import Bank of Korea		3.500		11/27/21		258,369
	500,000	Export-Import Bank of Korea		2.750		01/25/22		513,927
	500,000	FMS Wertmanagement AoeR		2.750		03/06/23		530,023
	500,000	Hashemite Kingdom of Jordan Government AID International Bond		2.578		06/30/22		520,597
	250,000	Hungary Government International Bond		5.750		11/22/23		286,499
	300,000	Indonesia Government International Bond		2.950		01/11/23		312,074
	1,000,000	Inter-American Development Bank		1.750		04/14/22		1,023,120
	1,100,000	Inter-American Development Bank		2.500		01/18/23		1,156,381
	1,000,000	Inter-American Development Bank		0.500		05/24/23		1,006,320
	1,000,000	Inter-American Development Bank		0.250		11/15/23		998,262
	750,000	International Bank for Reconstruction & Development		1.375		05/24/21		755,397
	500,000	International Bank for Reconstruction & Development		2.000		01/26/22		511,689
	2,000,000	International Bank for Reconstruction & Development		1.625		02/10/22		2,037,669
	1,250,000	International Bank for Reconstruction & Development		2.125		07/01/22		1,291,244
	1,000,000	International Bank for Reconstruction & Development		1.875		06/19/23		1,043,556
	400,000	International Finance Corp		0.500		03/20/23		402,016
	250,000	Israel Government International Bond		4.000		06/30/22		265,201
	500,000	Israel Government International Bond		3.150		06/30/23		535,441
	200,000	Japan Bank for International Cooperation		1.625		10/17/22		205,016
	450,000	Japan Bank for International Cooperation		1.750		01/23/23		463,897
	800,000	Japan Bank for International Cooperation		0.625		05/22/23		804,736
	500,000	Japan Bank for International Cooperation		3.250		07/20/23		539,684
	300,000	Japan Bank for International Cooperation		0.375		09/15/23		299,501
	350,000	Korea Development Bank		3.000		03/19/22		361,695
	300,000	Korea Development Bank		3.375		03/12/23		319,431
	100,000	Kreditanstalt fuer Wiederaufbau		1.875		12/15/20		100,348
	500,000	Kreditanstalt fuer Wiederaufbau		2.500		02/15/22		515,651
	1,000,000	Kreditanstalt fuer Wiederaufbau		2.125		03/07/22		1,027,413
	2,000,000	Kreditanstalt fuer Wiederaufbau		1.750		08/22/22		2,057,696
	5,100,000	Kreditanstalt fuer Wiederaufbau		1.625		02/15/23		5,265,957

346

TIAA-CREF FUNDS – Short-Term Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE
$	500,000	Kreditanstalt fuer Wiederaufbau		0.250	%	10/19/23	$	499,350
	400,000	Mexico Government International Bond		3.625		03/15/22		416,000
	500,000	Nordic Investment Bank		2.250		09/30/21		510,014
	500,000	Nordic Investment Bank		1.375		10/17/22		511,570
	250,000	Nordic Investment Bank		0.375		05/19/23		250,700
	500,000	Poland Government International Bond		5.000		03/23/22		534,156
	400,000	Poland Government International Bond		3.000		03/17/23		423,902
	400,000	Province of Alberta Canada		2.200		07/26/22		413,164
	300,000	Province of British Columbia Canada		2.000		10/23/22		310,457
	400,000	Province of Manitoba Canada		2.125		05/04/22		411,073
	300,000	Province of Ontario Canada		2.550		04/25/22		310,281
	1,000,000	Province of Ontario Canada		2.250		05/18/22		1,030,483
	1,055,000	Province of Ontario Canada		1.750		01/24/23		1,088,030
	300,000	Province of Quebec Canada		2.375		01/31/22		308,152
	900,000	Province of Quebec Canada		2.625		02/13/23		947,620
	1,000,000	Republic of Italy Government International Bond		6.875		09/27/23		1,166,379
	120,000	Svensk Exportkredit AB		2.375		04/09/21		121,281
	500,000	Svensk Exportkredit AB		1.625		09/12/21		506,506
	100,000	Svensk Exportkredit AB		3.125		11/08/21		103,134
	660,000	Svensk Exportkredit AB		1.625		11/14/22		677,898
	300,000	Svensk Exportkredit AB		2.875		03/14/23		318,501
	1,000,000	Svensk Exportkredit AB		0.750		04/06/23		1,009,337
		TOTAL FOREIGN GOVERNMENT BONDS						60,985,552
MORTGAGE BACKED - 0.3%
	1,500,000	Federal Home Loan Mortgage Corp (FHLMC)		0.250		08/24/23		1,500,130
	650,000	FHLMC		0.250		09/08/23		650,407
	750,000	Federal National Mortgage Association (FNMA)		0.250		07/10/23		749,762
		TOTAL MORTGAGE BACKED						2,900,299
MUNICIPAL BONDS - 0.0%
	280,000	Port Authority of New York & New Jersey		1.086		07/01/23		284,012
		TOTAL MUNICIPAL BONDS						284,012
U.S. TREASURY SECURITIES - 64.3%
	7,000,000	United States Treasury Note		1.500		09/30/21		7,093,516
	9,000,000	United States Treasury Note		2.875		10/15/21		9,254,531
	12,000,000	United States Treasury Note		1.500		10/31/21		12,175,313
	17,750,000	United States Treasury Note		2.875		11/15/21		18,289,434
	25,200,000	United States Treasury Note		1.500		11/30/21		25,591,781
	14,250,000	United States Treasury Note		2.625		12/15/21		14,674,160
	20,850,000	United States Treasury Note		1.625		12/31/21		21,231,164
	20,900,000	United States Treasury Note		2.500		01/15/22		21,534,348
	2,150,000	United States Treasury Note		1.375		01/31/22		2,185,105
	3,000,000	United States Treasury Note		2.500		02/15/22		3,097,031
	10,000,000	United States Treasury Note		2.375		03/15/22		10,325,000
	4,750,000	United States Treasury Note		0.375		03/31/22		4,765,957
	12,000,000	United States Treasury Note		2.250		04/15/22		12,387,656
	24,000,000	United States Treasury Note		0.125		04/30/22		23,997,187
	18,000,000	United States Treasury Note		2.125		05/15/22		18,577,266
	2,500,000	United States Treasury Note		0.125		05/31/22		2,499,414
	14,000,000	United States Treasury Note		1.750		06/15/22		14,382,812
	18,500,000	United States Treasury Note		0.125		06/30/22		18,495,664
	20,000,000	United States Treasury Note		1.750		07/15/22		20,573,438
	7,800,000	United States Treasury Note		0.125		07/31/22		7,798,477

347

TIAA-CREF FUNDS – Short-Term Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	13,000,000		United States Treasury Note		1.500	%	08/15/22	$	13,331,094
	28,500,000		United States Treasury Note		0.125		08/31/22		28,492,207
	10,000,000		United States Treasury Note		1.500		09/15/22		10,266,016
	15,000,000		United States Treasury Note		0.125		09/30/22		14,998,242
	17,400,000		United States Treasury Note		1.375		10/15/22		17,837,039
	20,000,000		United States Treasury Note		1.625		11/15/22		20,625,781
	23,000,000		United States Treasury Note		1.625		12/15/22		23,751,992
	22,000,000		United States Treasury Note		1.500		01/15/23		22,678,906
	12,000,000		United States Treasury Note		1.375		02/15/23		12,347,813
	1,000,000		United States Treasury Note		2.625		02/28/23		1,059,727
	21,500,000		United States Treasury Note		0.250		04/15/23		21,553,750
	21,500,000		United States Treasury Note		0.125		05/15/23		21,484,883
	18,000,000		United States Treasury Note		0.250		06/15/23		18,045,000
	17,600,000		United States Treasury Note		0.125		07/15/23		17,583,500
	16,500,000		United States Treasury Note		0.125		08/15/23		16,483,242
	6,000,000		United States Treasury Note		0.125		09/15/23		5,994,375
	5,000,000		United States Treasury Note		0.250		08/31/25		4,994,922
	5,000,000		United States Treasury Note		0.250		09/30/25		4,993,359
			TOTAL U.S. TREASURY SECURITIES						545,451,102
			TOTAL GOVERNMENT BONDS						637,838,626
			(Cost $627,924,313)
			TOTAL BONDS						846,076,016
			(Cost $832,255,572)
SHORT-TERM INVESTMENTS - 0.8%
REPURCHASE AGREEMENT - 0.8%
	7,210,000	r	Fixed Income Clearing Corp (FICC)		0.070		10/01/20		7,210,000
			TOTAL REPURCHASE AGREEMENT						7,210,000
			TOTAL SHORT-TERM INVESTMENTS						7,210,000
			(Cost $7,210,000)
			TOTAL INVESTMENTS - 100.4%						853,286,016
			(Cost $839,465,572)
			OTHER ASSETS & LIABILITIES, NET - (0.4)%						(3,797,960	)
			NET ASSETS - 100.0%					$	849,488,056

‡	Perpetual security
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933, as amended. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 9/30/2020, the aggregate value of these securities is $4,982,481 or 0.6% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.
r	Agreement with Fixed Income Clearing Corporation, 0.070% dated 9/30/20 to be repurchased at $7,210,000 on 10/01/20, collateralized by U.S. Treasury Notes valued at $7,354,275.

348

TIAA-CREF FUNDS – Money Market Fund

TIAA-CREF FUNDS

MONEY MARKET FUND

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2020

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE
SHORT-TERM INVESTMENTS - 100.1%
GOVERNMENT AGENCY DEBT - 16.2%
$	11,250,000	Federal Agricultural Mortgage Corp (FAMC)		0.010	%	11/02/20	$	11,247,800
	15,000,000	FAMC		0.010		12/15/20		14,989,063
	12,894,000	Federal Home Loan Bank (FHLB)		0.010		10/07/20		12,893,785
	3,033,000	FHLB		0.010		10/14/20		3,032,901
	50,000,000	FHLB		0.010		10/16/20		49,997,469
	27,400,000	FHLB		0.010		10/23/20		27,398,242
	25,000,000	FHLB		0.010		10/26/20		24,997,222
	6,232,000	FHLB		0.010		11/03/20		6,231,514
	29,490,000	FHLB		0.010		11/04/20		29,487,493
	986,000	FHLB		0.010		11/13/20		985,876
	600,000	FHLB		0.010		11/19/20		599,931
	10,000,000	FHLB		0.095		12/01/20		9,999,726
	700,000	FHLB		0.010		12/04/20		699,888
	10,000,000	FHLB		0.010		12/09/20		9,997,796
	4,150,000	FHLB		0.010		12/16/20		4,149,220
	24,678,000	FHLB		0.010		12/18/20		24,668,699
	2,139,000	FHLB		0.010		12/23/20		2,138,142
	44,001,000	FHLB		0.010		12/28/20		43,991,320
	1,000,000	FHLB		0.010		01/06/21		999,731
	10,000,000	FHLB		0.010		01/20/21		9,996,069
	20,172,000	FHLB		0.010		02/05/21		20,164,172
	16,000,000	FHLB		0.010		03/17/21		15,991,836
		TOTAL GOVERNMENT AGENCY DEBT						324,657,895
TREASURY DEBT - 52.1%
	52,043,000	United States Cash Management Bill		0.010		10/13/20		52,040,902
	50,227,000	United States Cash Management Bill		0.010		10/27/20		50,223,683
	68,079,000	United States Cash Management Bill		0.010		11/03/20		68,073,188
	24,757,000	United States Cash Management Bill		0.010		11/10/20		24,754,491
	34,449,000	United States Cash Management Bill		0.010		11/17/20		34,443,684
	21,660,000	United States Cash Management Bill		0.010		11/24/20		21,656,572
	45,842,000	United States Cash Management Bill		0.010		12/01/20		45,832,161
	38,527,000	United States Cash Management Bill		0.010		12/08/20		38,519,708
	53,918,000	United States Cash Management Bill		0.010		12/15/20		53,906,287
	42,865,000	United States Cash Management Bill		0.010		12/22/20		42,854,454
	37,454,000	United States Cash Management Bill		0.010		12/29/20		37,442,764
	32,390,000	United States Cash Management Bill		0.010		01/05/21		32,381,800
	15,000,000	United States Cash Management Bill		0.010		01/12/21		14,995,815
	23,500,000	United States Cash Management Bill		0.010		02/23/21		23,490,933
	10,856,000	United States Treasury Bill		0.010		10/01/20		10,856,000
	20,890,000	United States Treasury Bill		0.010		10/06/20		20,889,587
	23,684,000	United States Treasury Bill		0.010		10/08/20		23,683,353
	42,867,000	United States Treasury Bill		0.010		10/15/20		42,864,615
	22,185,000	United States Treasury Bill		0.010		10/20/20		22,183,525
	22,780,000	United States Treasury Bill		0.010		10/22/20		22,778,498
	30,019,000	United States Treasury Bill		0.000-0.010		10/29/20		30,015,684

349

TIAA-CREF FUNDS – Money Market Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	8,096,000		United States Treasury Bill			0.010	%	11/12/20	$	8,095,068
	55,000,000		United States Treasury Bill			0.010		11/19/20		54,992,514
	14,683,000		United States Treasury Bill			0.010		11/27/20		14,680,736
	87,776,000		United States Treasury Bill			0.010		12/03/20		87,760,528
	35,949,000		United States Treasury Bill			0.010		12/10/20		35,941,731
	33,325,000		United States Treasury Bill			0.010		12/17/20		33,317,782
	13,000,000		United States Treasury Bill			0.010		12/24/20		12,996,710
	29,739,000		United States Treasury Bill			0.010		12/31/20		29,731,538
	7,000,000		United States Treasury Bill			0.010		01/07/21		6,997,704
	17,080,000		United States Treasury Bill			0.010		01/14/21		17,075,422
	5,000,000		United States Treasury Bill			0.010		03/18/21		4,997,608
	20,000,000		United States Treasury Bill			0.010		03/25/21		19,989,014
			TOTAL TREASURY DEBT							1,040,464,059
VARIABLE RATE SECURITIES - 31.8%
	10,000,000	i	Federal Agricultural Mortgage Corp (FAMC)	LIBOR 1 M + 0.060%		0.215		10/01/20		10,000,000
	5,000,000	i	FAMC	SOFR + 0.070%		0.140		10/02/20		5,000,000
	25,000,000	i	FAMC	SOFR + 0.060%		0.130		11/09/20		25,000,000
	3,000,000	i	FAMC	SOFR + 0.080%		0.150		12/21/20		3,000,000
	20,000,000	i	FAMC	LIBOR 1 M + 0.030%		0.186		12/21/20		20,000,000
	8,250,000	i	FAMC	LIBOR 1 M + 0.120%		0.276		02/03/21		8,251,545
	15,000,000	i	FAMC	SOFR + 0.070%		0.140		02/08/21		15,000,000
	25,000,000	i	FAMC	SOFR + 0.280%		0.350		03/23/21		25,000,000
	22,500,000	i	Federal Farm Credit Bank (FFCB)	US Treasury Bill 3 M + 0.110%		0.210		12/28/20		22,497,807
	8,000,000	i	FFCB	SOFR + 0.080%		0.150		01/14/21		8,000,000
	5,000,000	i	FFCB	US Treasury Bill 3 M + 0.160%		0.260		01/19/21		4,999,851
	25,000,000	i	FFCB	SOFR + 0.290%		0.360		04/23/21		25,000,000
	11,000,000	i	FFCB	SOFR + 0.040%		0.110		08/04/21		11,000,000
	10,000,000	i	FFCB	SOFR + 0.055%		0.125		10/15/21		10,000,000
	10,000,000	i	FFCB	SOFR + 0.070%		0.140		02/17/22		10,000,000
	5,000,000	i	FFCB	SOFR + 0.190%		0.260		07/14/22		5,000,000
	7,500,000	i	FFCB	SOFR + 0.070%		0.140		08/11/22		7,500,000
	15,000,000	i	Federal Home Loan Bank (FHLB)	SOFR + 0.080%		0.150		10/02/20		15,000,000
	5,000,000	i	FHLB	SOFR + 0.120%		0.190		10/07/20		5,000,000
	13,000,000	i	FHLB	SOFR + 0.130%		0.200		10/16/20		13,000,000
	10,000,000	i	FHLB	SOFR + 0.005%		0.075		11/12/20		10,000,000
	6,000,000	i	FHLB	SOFR + 0.090%		0.160		12/04/20		6,000,000
	20,000,000	i	FHLB	SOFR + 0.120%		0.190		12/11/20		20,000,000
	20,000,000	i	FHLB	SOFR + 0.240%		0.310		12/24/20		20,000,000
	14,000,000	i	FHLB	SOFR + 0.030%		0.100		01/11/21		14,000,000
	25,000,000	i	FHLB	LIBOR 1 M + 0.070%		0.221		01/11/21		25,000,000
	8,000,000	i	FHLB	SOFR + 0.050%		0.120		01/22/21		8,000,000
	14,000,000	i	FHLB	SOFR + 0.040%		0.110		02/26/21		14,000,000
	20,000,000	i	FHLB	SOFR + 0.280%		0.350		03/25/21		20,000,000
	47,500,000	i	FHLB	SOFR + 0.230%		0.300		04/13/21		47,500,000
	11,000,000	i	FHLB	SOFR + 0.070%		0.140		04/21/21		11,000,000
	9,500,000	i	FHLB	SOFR + 0.055%		0.125		05/14/21		9,500,000
	25,000,000	i	FHLB	SOFR + 0.100%		0.170		07/09/21		25,000,000
	25,000,000	i	FHLB	SOFR + 0.120%		0.190		10/13/21		25,000,000
	9,000,000	i	FHLB	SOFR + 0.065%		0.135		12/21/21		9,000,000
	15,000,000	i	FHLB	SOFR + 0.080%		0.150		02/22/22		15,000,000

350

TIAA-CREF FUNDS – Money Market Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	6,000,000	i	FHLB	SOFR + 0.090%		0.160	%	05/26/22	$	6,000,000
	5,000,000	i	Federal Home Loan Mortgage Corp (FHLMC)	SOFR + 0.030%		0.100		02/24/21		5,000,000
	10,000,000	i	FHLMC	SOFR + 0.240%		0.310		07/23/21		10,000,000
	10,000,000	i	FHLMC	SOFR + 0.095%		0.165		08/19/22		10,000,000
	4,500,000	i	Federal National Mortgage Association (FNMA)	SOFR + 0.075%		0.145		10/30/20		4,500,000
	15,000,000	i	FNMA	SOFR + 0.050%		0.120		03/04/21		15,000,000
	15,000,000	i	FNMA	SOFR + 0.190%		0.260		04/05/21		15,000,000
	20,000,000	i	FNMA	SOFR + 0.280%		0.350		04/26/21		20,000,000
	10,000,000	i	FNMA	SOFR + 0.320%		0.390		10/22/21		10,000,000
	12,000,000	i	United States Treasury Note	US Treasury Bill 3 M + 0.045%		0.145		10/31/20		11,999,493
			TOTAL VARIABLE RATE SECURITIES							634,748,696
			TOTAL SHORT-TERM INVESTMENTS							1,999,870,650
			(Cost $1,999,870,650)
			TOTAL INVESTMENTS- 100.1%							1,999,870,650
			(Cost $1,999,870,650)
			OTHER ASSETS & LIABILITIES, NET - (0.1)%							(1,077,127	)
			NET ASSETS - 100.0%						$	1,998,793,523

	Abbreviation(s):
LIBOR	London Interbank Offered Rate
M	Month
SOFR	Secure Overnight Financing Rate

i Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.

351

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not Applicable.

Item 8. Portfolio Managers of Closed-End Management Investment Companies.

Not Applicable.

Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not Applicable.

Item 10. Submission of Matters to a Vote of Security Holders.

There were no material changes to the procedures by which shareholders may recommend nominees to the Registrant’s Board of Trustees.

Item 11. 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 semi-annual reporting period.

(b) There were no changes in the Registrant’s internal control over financial reporting that occurred during the Registrant’s semi-annual period covered by this report that materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.

Not Applicable

Item 13. Exhibits.

13(a)(2)(i) Section 302 certification of the principal executive officer

13(a)(2)(ii) Section 302 certification of the principal financial officer

13(b) Section 906 certification of principal executive officer and 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:	November 17, 2020	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:	November 17, 2020	By:	/s/Bradley Finkle
			Bradley Finkle
			Principal Executive Officer and President
			(principal executive officer)
Dated:	November 17, 2020	By:	/s/E. Scott Wickerham
			E. Scott Wickerham
			Principal Financial Officer, Principal Accounting Officer and Treasurer
			(principal financial officer)