N-CSR 1 c101560_ncsr.htm

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: March 31, 2021

Item 1. Reports to Stockholders.

TIAA-CREF
Funds

March 31,
2021

TIAA-CREF
Real Estate Securities Fund

The annual report contains the audited financial statements.

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

Annual
Report

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 not be sent to you 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.

You may elect to receive shareholder reports and other communications from the Funds electronically anytime by either (1) 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 (2) 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 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 receive 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
Portfolios of investments	12
Audited financial statements
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
Report of independent registered public accounting firm	31
Important tax information	32
Trustees and officers	33
Approval of investment management agreement	38
Liquidity risk management program	46
How to reach us	Inside back cover

Understanding this report

This annual report contains information about the Real Estate Securities Fund and describes the Fund’s results for the twelve months ended March 31, 2021. 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 March 31, 2021.
•	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 websites at TIAA.org or nuveen.com, 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 ■ 2021 Annual Report

Letter to investors

Real estate investment trusts (REITs) posted strong returns for the twelve months ended March 31, 2021, as the economy initially struggled with the impact of the COVID-19 pandemic but then returned to growth. The unemployment rate, which rose sharply in April 2020, declined steadily during the period. The Federal Reserve maintained the federal funds target rate at 0.00%–0.25% throughout the twelve months. Meanwhile, the federal government enacted two pandemic relief measures—a $900 billion stimulus package in December 2020 and a $1.9 trillion COVID-19 relief bill in March 2021.

•	REITs gained 34.2% for the twelve months, as measured by the FTSE Nareit All Equity REITs Index. Please see page 8 for the benchmark definition.
•	All of the index’s 16 property sectors and subsectors advanced, with regional malls generating the largest return. Timber REITs and the lodging/resorts sector also posted strong results.
•	The TIAA-CREF Real Estate Securities Fund (Institutional Class) registered a sizable gain and outperformed its benchmark, mostly due to favorable security selection.

REITs surpassed U.S. bonds, trailed stocks

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 throughout the period, REITs benefited from the Fed’s commitment to maintain short-term interest rates within a near-zero range. Similar to equities, REITs invest in individual companies, so their performance is also tied to the overall health of the U.S. economy. As such, REITs were supported by strength in the stock market during the period.

For the twelve months, the FTSE Nareit All Equity REITs Index surpassed the 0.7% return 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 fixed-income sectors, including high-yield bonds, which posted a double-digit gain for the period. However, REITs lagged the 62.5% advance of the broad U.S. stock market, as represented by the Russell 3000^® Index.

4	2021 Annual Report ■ TIAA-CREF Real Estate Securities Fund

Brad Finkle

The benefits of REITs in varying markets

REITs have the potential to offer three important benefits to your portfolio: diversification, capital appreciation and income—a combination that can be a valuable investment option in varying market environments. Diversification, a well-established technique that spreads investments among a variety of asset classes—not just stocks or bonds—can help limit the risk of having too much exposure to one specific area. Because REITs invest in a broad array of real estate property sectors, each with its own unique characteristics and supply/demand dynamics, they can help provide more diversification. REITs also offer the potential for capital appreciation, which appeals to many investors in a growing economy or when markets are rising. Income is another important feature of REITs, which are required by law to distribute at least 90% of their taxable income to investors in the form of dividends. That income can be of particular value when interest rates decline or when markets are struggling.

It’s impossible to predict which way financial markets will move. Similarly, no one can foresee the direction of interest rates. Because of these uncertainties, we believe that a professionally managed mutual fund of REIT securities can play an integral role in a long-term investment plan, especially when it is part of a broader portfolio containing stocks, bonds and other asset classes. Of course, diversification cannot guarantee against market losses.

Please feel free to visit TIAA.org for more information on asset class performance. As always, 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 stand ready to help 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 ■ 2021 Annual Report

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 websites at TIAA.org or nuveen.com; 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	2021 Annual 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 (October 1, 2020–March 31, 2021).

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 ■ 2021 Annual Report

Important information about expenses

Expense example

Six months ended March 31, 2021

Real Estate Securities Fund	Beginning account value (10/1/20	)	Ending account value (3/31/21	)	Expenses paid during period (10/1/20–3/31/21	* )
Actual return
Institutional Class	$1,000.00		$ 1,168.30		$2.54
Advisor Class	1,000.00		1,167.55		3.19
Premier Class	1,000.00		1,167.23		3.35
Retirement Class	1,000.00		1,166.42		3.89
Retail Class	1,000.00		1,166.16		4.10
5% annual hypothetical return
Institutional Class	1,000.00		1,022.59		2.37
Advisor Class	1,000.00		1,021.99		2.97
Premier Class	1,000.00		1,021.84		3.13
Retirement Class	1,000.00		1,021.34		3.63
Retail Class	1,000.00		1,021.14		3.83

“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 182/365. There were 182 days in the six months ended March 31, 2021. The Fund’s annualized six-month expense ratios for that period were 0.47% for the Institutional Class, 0.59% for the Advisor Class, 0.62% for the Premier Class, 0.72% for the Retirement Class and 0.76% 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 2021. 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	2021 Annual Report ■ TIAA-CREF Real Estate Securities Fund

Real Estate Securities Fund

Performance for the twelve months ended March 31, 2021

The Real Estate Securities Fund returned 35.94% for the Institutional Class, compared with the 34.24% return of its benchmark, the FTSE Nareit All Equity REITs Index. The performance table shows returns for all share classes of the Fund.

Economic growth resumed after pandemic setback

The U.S. economy contracted sharply early in the period due to the COVID-19 outbreak and global efforts to contain the spread of the virus. But the nation’s output recovered during the summer of 2020, and economic growth continued through the rest of the year and into 2021. The unemployment rate, which had spiked to 14.7% in April 2020, declined steadily during the period and settled at 6.0% in March 2021. The Federal Reserve, which had reduced the federal funds target rate in March 2020, kept the key short-term interest-rate measure at 0.00%–0.25% throughout the period. Meanwhile, the federal government enacted a $900 billion pandemic aid package in December 2020, followed by a $1.9 trillion COVID-19 relief bill in March 2021.

For the period, the FTSE Nareit All Equity REITs Index trailed the 62.53% return of the broad U.S. stock market, as measured by the Russell 3000^® Index, but it surpassed the 0.71% 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 double-digit gains

Among the benchmark’s 16 property sectors and subsectors, all posted positive returns for the period. The largest gains were seen in the regional malls (up 108.1%), timber REITs (up 94.8%) and lodging/resorts (up 85.1%) sectors. The worst performer was the data centers sector (up 8.6%).

Fund rose substantially and outperformed its benchmark

For the twelve-month period, the Fund posted a strong gain and outperformed its benchmark, mostly due to astute security selection. An out-of-benchmark allocation to vacation rental company Airbnb and an overweight position in retail REIT Simon Property Group contributed most to the Fund’s relative performance, as both produced triple-digit gains. An out-of-benchmark investment in MGM Resorts International, a global entertainment company, was also beneficial.

These positive effects were partly offset by an overweight allocation to residential REIT Equity LifeStyle Properties and an underweight position in paper and forest products company Weyerhaeuser, which posted strong results. An overweight position in industrial REIT Rexford Industrial Realty also hampered the Fund’s performance.

TIAA-CREF Real Estate Securities Fund ■ 2021 Annual Report

Real Estate Securities Fund

Performance as of March 31, 2021

Real Estate Securities Fund					Average annual						Annual operating
		Total return			total return						expenses*
	Inception date	1 year			5 years			10 years			gross			net
Institutional Class	10/1/02		35.94	%		9.08	%		10.16	%		0.50	%		0.50	%
Advisor Class	12/4/15		35.76			8.97			10.10	^†		0.62			0.62
Premier Class	9/30/09		35.78			8.94			10.00			0.65			0.65
Retirement Class	10/1/02		35.58			8.82			9.89			0.75			0.75
Retail Class	10/1/02		35.57			8.77			9.82			0.79			0.79
FTSE Nareit All Equity REITs Index	—		34.24			7.19			9.35			—			—

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. Refer to the Financial highlights later in this report for the Fund’s expense ratios as of the end of the reporting period.
^†	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	2021 Annual Report ■ TIAA-CREF Real Estate Securities Fund

Real Estate Securities Fund

$2,000,000 over 10 years

Institutional Class

Ending amounts are as of March 31, 2021. For the purpose of comparison, the graph also shows the change in the value of the Fund’s benchmark during the same period. The performance of the other share classes varies due to differences in expense charges.

Portfolio composition
	% of net assets
Sector	as of 3/31/2021
Specialized REITs	27.9
Residential REITs	22.7
Retail REITs	12.2
Industrial REITs	11.7
Office REITs	8.2
Health care REITs	7.4
Hotel & resort REITs	2.3
Casinos & gaming	2.1
Internet services & infrastructure	1.9
Diversified REITs	1.2
Hotels, resorts & cruise lines	1.0
Short-term investments, other assets & liabilities, net	1.4
Total	100.0

Fund profile
	as of 3/31/2021
Net assets	$3.29 billion
Portfolio turnover rate	45%
Number of holdings	70
Weighted median market capitalization	$22.46 billion
Price/earnings ratio (weighted 12-month trailing average)^†	76.3

^†	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

% of equity investments
Market capitalization	as of 3/31/2021
More than $50 billion	21.3
More than $15 billion–$50 billion	45.2
More than $2 billion–$15 billion	31.4
$2 billion or less	2.1
Total	100.0

TIAA-CREF Real Estate Securities Fund ■ 2021 Annual Report

Portfolio of investments

Real Estate Securities Fund ■ March 31, 2021

Shares			Company	Value
COMMON STOCKS—98.6%
CASINOS & GAMING—2.1%
	375,000	*	Las Vegas Sands Corp	$	22,785,000
	550,000		MGM Resorts International		20,894,500
	200,000	*	Wynn Resorts Ltd		25,074,000
			TOTAL CASINOS & GAMING		68,753,500
DIVERSIFIED REITS—1.2%
	1,600,000		Empire State Realty Trust, Inc		17,808,000
	600,000		STORE Capital Corp		20,100,000
			TOTAL DIVERSIFIED REITS		37,908,000
HEALTH CARE REITS—7.4%
	1,600,000		Healthpeak Properties Inc		50,784,000
	550,000		Omega Healthcare Investors, Inc		20,146,500
	1,450,000		Sabra Healthcare REIT, Inc		25,172,000
	1,300,000		Ventas, Inc		69,342,000
	1,075,000		Welltower, Inc		77,002,250
			TOTAL HEALTH CARE REITS		242,446,750
HOTEL & RESORT REITS—2.3%
	1,850,000	*	Host Hotels and Resorts, Inc		31,172,500
	350,000		MGM Growth Properties LLC		11,417,000
	1,200,000	*	Park Hotels & Resorts, Inc		25,896,000
	550,000	*	Sunstone Hotel Investors, Inc		6,853,000
			TOTAL HOTEL & RESORT REITS		75,338,500
HOTELS, RESORTS & CRUISE LINES—1.0%
	100,000	*	Hilton Worldwide Holdings, Inc		12,092,000
	150,000	*	Marriott International, Inc (Class A)		22,216,500
			TOTAL HOTELS, RESORTS & CRUISE LINES		34,308,500
INDUSTRIAL REITS—11.7%
	150,000		EastGroup Properties, Inc		21,492,000
	75,000		Innovative Industrial Properties, Inc		13,512,000
	1,950,000		Prologis, Inc		206,700,000
	2,000,000		Rexford Industrial Realty, Inc		100,800,000
	725,000		Terreno Realty Corp		41,883,250
			TOTAL INDUSTRIAL REITS		384,387,250
INTERNET SERVICES & INFRASTRUCTURE—1.9%
	425,000	*	GDS Holdings Ltd (ADR)		34,463,250
	1,900,000	*	Megaport Ltd		16,053,244
	1,600,000	*	NEXTDC Ltd		12,743,426
			TOTAL INTERNET SERVICES & INFRASTRUCTURE		63,259,920
OFFICE REITS—8.2%
	440,000		Alexandria Real Estate Equities, Inc		72,292,000
	560,000		Boston Properties, Inc		56,705,600
	425,000		Kilroy Realty Corp		27,892,750
	600,000		SL Green Realty Corp		41,994,000
	1,600,000		Vornado Realty Trust		72,624,000
			TOTAL OFFICE REITS		271,508,350

2021 Annual Report ■ TIAA-CREF Real Estate Securities Fund

See notes to financial statements

Portfolio of investments

continued

Real Estate Securities Fund ■ March 31, 2021

Shares			Company	Value
RESIDENTIAL REITS—22.7%
	1,500,000		American Homes 4 Rent	$	50,010,000
	375,000		Apartment Income REIT Corp		16,035,000
	750,000		AvalonBay Communities, Inc		138,382,500
	240,000		Camden Property Trust		26,378,400
	875,000		Equity Lifestyle Properties, Inc		55,685,000
	2,025,000		Equity Residential		145,050,750
	315,000		Essex Property Trust, Inc		85,629,600
	4,200,000		Ingenia Communities Group		16,207,555
	2,400,000		Invitation Homes, Inc		76,776,000
	215,000		Mid-America Apartment Communities, Inc		31,037,400
	440,000		Sun Communities, Inc		66,017,600
	950,000		UDR, Inc		41,667,000
			TOTAL RESIDENTIAL REITS		748,876,805
RETAIL REITS—12.2%
	325,000		Agree Realty Corp		21,875,750
	1,100,000		Brixmor Property Group, Inc		22,253,000
	1,550,000		Kimco Realty Corp		29,062,500
	1,249,700		Macerich Co		14,621,490
	200,000		Realty Income Corp		12,700,000
	850,000		Regency Centers Corp		48,203,500
	1,725,000		Simon Property Group, Inc		196,253,250
	2,050,000		SITE Centers Corp		27,798,000
	275,000		Spirit Realty Capital, Inc		11,687,500
	1,175,000		Tanger Factory Outlet Centers, Inc		17,777,750
			TOTAL RETAIL REITS		402,232,740
SPECIALIZED REITS—27.9%
	885,000		American Tower Corp		211,568,100
	635,000		Crown Castle International Corp		109,302,550
	500,000		Digital Realty Trust, Inc		70,420,000
	750,000		EPR Properties		34,942,500
	240,000		Equinix, Inc		163,101,600
	170,000		Extra Space Storage, Inc		22,533,500
	300,000		Gaming and Leisure Properties, Inc		12,729,000
	375,000		Lamar Advertising Co		35,220,000
	350,000		National Storage Affiliates Trust		13,975,500
	1,150,000	*	Outfront Media, Inc		25,104,500
	340,000		Public Storage, Inc		83,898,400
	120,000		SBA Communications Corp		33,306,000
	1,150,000		VICI Properties, Inc		32,476,000
	1,975,000		Weyerhaeuser Co		70,310,000
			TOTAL SPECIALIZED REITS		918,887,650

			TOTAL COMMON STOCKS (Cost 2,214,123,688)		3,247,907,965

See notes to financial statements

TIAA-CREF Real Estate Securities Fund ■ 2021 Annual Report

Portfolio of investments

concluded

Real Estate Securities Fund ■ March 31, 2021

Principal		Issuer	Rate			Maturity date	Value
SHORT-TERM INVESTMENTS—1.1%
GOVERNMENT AGENCY DEBT—0.9%
$	6,801,000	Federal Agricultural Mortgage Corp (FAMC)		0.010	%	04/01/21	$	6,801,000
	5,000,000	Federal Home Loan Bank (FHLB)		0.005		04/07/21		5,000,000
	2,516,000	FHLB		0.004		04/21/21		2,516,000
	15,000,000	FHLB		0.010		04/23/21		15,000,000
		TOTAL GOVERNMENT AGENCY DEBT						29,317,000
TREASURY DEBT—0.2%
	5,000,000	United States Treasury Bill		0.002		04/08/21		4,999,995
		TOTAL TREASURY DEBT						4,999,995

		TOTAL SHORT-TERM INVESTMENTS (Cost $34,316,896)						34,316,995

		TOTAL INVESTMENTS—99.7% (Cost $2,248,440,584)						3,282,224,960
		OTHER ASSETS & LIABILITIES, NET—0.3%						11,046,294
		NET ASSETS—100.0%					$	3,293,271,254

Abbreviation(s):

ADR	American Repository Receipts
REIT	Real Estate Investment Trust

* Non-income producing

2021 Annual Report ■ TIAA-CREF Real Estate Securities Fund

See notes to financial statements

Statement of assets and liabilities

Real Estate Securities Fund ■ March 31, 2021

ASSETS
Portfolio investments, at value^†	$	3,282,224,960
Cash		490,129
Receivable from securities transactions		1,971,259
Receivable from Fund shares sold		5,075,904
Dividends and interest receivable		9,455,236
Due from affiliates		68,547
Other		348,542
Total assets		3,299,634,577
LIABILITIES
Management fees payable		1,282,874
Service agreement fee payable		124,545
Distribution fee payable		82,193
Due to affiliates		21,125
Payable for securities transactions		3,946,877
Payable for Fund shares redeemed		547,618
Payable for trustee compensation		213,022
Accrued expenses and other payables		145,069
Total liabilities		6,363,323
NET ASSETS	$	3,293,271,254
NET ASSETS CONSIST OF:
Paid-in-capital	$	2,256,221,823
Total distributable earnings (loss)		1,037,049,431
Net Assets	$	3,293,271,254
INSTITUTIONAL CLASS:
Net assets	$	2,272,603,648
Outstanding shares of beneficial interest, unlimited shares authorized ($.0001 par value)		119,748,052
Net asset value per share	$	18.98
ADVISOR CLASS:
Net assets	$	71,403,120
Outstanding shares of beneficial interest, unlimited shares authorized ($.0001 par value)		3,760,428
Net asset value per share	$	18.99
PREMIER CLASS:
Net assets	$	48,254,515
Outstanding shares of beneficial interest, unlimited shares authorized ($.0001 par value)		2,540,127
Net asset value per share	$	19.00
RETIREMENT CLASS:
Net assets	$	533,102,138
Outstanding shares of beneficial interest, unlimited shares authorized ($.0001 par value)		26,843,146
Net asset value per share	$	19.86
RETAIL CLASS:
Net assets	$	367,907,833
Outstanding shares of beneficial interest, unlimited shares authorized ($.0001 par value)		19,550,262
Net asset value per share	$	18.82
† Portfolio investments, cost	$	2,248,440,584

See notes to financial statements

TIAA-CREF Real Estate Securities Fund ■ 2021 Annual Report

Statement of operations

Real Estate Securities Fund ■ For the year ended March 31, 2021

INVESTMENT INCOME
Dividends	$	60,804,104
Payment from affiliate		417,407
Interest		48,190
Total income		61,269,701

EXPENSES
Management fees		12,941,231
Shareholder servicing — Institutional Class		6,673
Shareholder servicing — Advisor Class		56,287
Shareholder servicing — Premier Class		153
Shareholder servicing — Retirement Class		1,162,100
Shareholder servicing — Retail Class		135,927
Distribution fees — Premier Class		66,568
Distribution fees — Retail Class		781,978
Administrative service fees		97,468
Trustee fees and expenses		32,387
Other expenses		402,657
Total expenses		15,683,429
Less: Fee waiver by investment adviser and Nuveen Securities		(637,667	)
Net expenses		15,045,762
Net investment income (loss)		46,223,939

NET REALIZED AND UNREALIZED GAIN (LOSS) ON TOTAL INVESTMENTS
Realized gain (loss):
Portfolio investments		83,875,642
Foreign currency transactions		(14,311	)
Net realized gain (loss) on total investments		83,861,331
Change in unrealized appreciation (depreciation) on:
Portfolio investments		687,454,932
Translations of assets (other than portfolio investments) and liabilities denominated in foreign currencies		(5,268	)
Net change in unrealized appreciation (depreciation) on total investments		687,449,664
Net realized and unrealized gain (loss) on total investments		771,310,995
Net increase (decrease) in net assets from operations	$	817,534,934

2021 Annual Report ■ TIAA-CREF Real Estate Securities Fund

See notes to financial statements

Statements of changes in net assets

Real Estate Securities Fund ■ For the year ended

		March 31, 2021			March 31, 2020
OPERATIONS
Net investment income (loss)		$	46,223,939		$	49,063,106
Net realized gain (loss) on total investments			83,861,331			17,076,313
Net change in unrealized appreciation (depreciation) on total investments			687,449,664			(317,323,031	)
Net increase (decrease) in net assets from operations			817,534,934			(251,183,612	)

DISTRIBUTIONS TO SHAREHOLDERS
	Institutional Class		(34,056,999	)		(112,689,391	)
	Advisor Class		(813,685	)		(1,424,454	)
	Premier Class		(703,229	)		(3,714,969	)
	Retirement Class		(6,800,689	)		(28,450,093	)
	Retail Class		(4,749,733	)		(19,101,670	)
Total distributions			(47,124,335	)		(165,380,577	)

SHAREHOLDER TRANSACTIONS
Subscriptions:	Institutional Class		662,036,498			463,216,863
	Advisor Class		58,438,845			40,647,619
	Premier Class		8,311,088			11,494,447
	Retirement Class		35,513,832			77,265,402
	Retail Class		80,494,085			111,171,217
Reinvestments of distributions:	Institutional Class		33,361,742			106,877,507
	Advisor Class		807,347			1,409,599
	Premier Class		703,055			3,714,317
	Retirement Class		6,800,689			28,449,867
	Retail Class		4,522,909			18,220,255
Redemptions:	Institutional Class		(377,121,852	)		(450,403,787	)
	Advisor Class		(21,557,315	)		(20,909,263	)
	Premier Class		(17,735,465	)		(42,211,656	)
	Retirement Class		(40,371,394	)		(54,545,829	)
	Retail Class		(69,834,550	)		(62,838,783	)
Net increase (decrease) from shareholder transactions			364,369,514			231,557,775
Net increase (decrease) in net assets			1,134,780,113			(185,006,414	)
NET ASSETS
Beginning of period			2,158,491,141			2,343,497,555
End of period		$	3,293,271,254		$	2,158,491,141

See notes to financial statements

TIAA-CREF Real Estate Securities Fund ■ 2021 Annual Report

Statements of changes in net assets

concluded

Real Estate Securities Fund ■ For the year ended

		March 31, 2021			March 31, 2020
CHANGE IN FUND SHARES
Shares sold:	Institutional Class		39,409,395			25,925,346
	Advisor Class		3,502,755			2,330,756
	Premier Class		505,171			653,541
	Retirement Class		1,969,222			4,153,421
	Retail Class		4,796,182			6,284,808
Shares reinvested:	Institutional Class		1,946,389			6,245,330
	Advisor Class		46,706			82,676
	Premier Class		41,128			215,881
	Retirement Class		380,535			1,588,105
	Retail Class		266,730			1,073,178
Shares redeemed:	Institutional Class		(22,268,340	)		(25,249,177	)
	Advisor Class		(1,314,640	)		(1,205,588	)
	Premier Class		(1,102,012	)		(2,366,418	)
	Retirement Class		(2,340,798	)		(3,058,627	)
	Retail Class		(4,244,886	)		(3,767,729	)
Net increase (decrease) from shareholder transactions			21,593,537			12,905,503

2021 Annual Report ■ TIAA-CREF Real Estate Securities Fund

See notes to financial statements

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TIAA-CREF Real Estate Securities Fund ■ 2021 Annual Report

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
	3/31/21		$14.21		$0.30			$ 4.77			$ 5.07			$(0.30	)		$ –			$(0.30	)		$18.98		35.94	%		35.92	%		$2,272,604			0.49	%		0.47	%		1.77	%		1.76	%		45	%
	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
Advisor Class
	3/31/21		14.22		0.26			4.79			5.05			(0.28	)		–			(0.28	)		18.99		35.76			35.74			71,403			0.62			0.59			1.55			1.53			45
	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
Premier Class
	3/31/21		14.22		0.27			4.79			5.06			(0.28	)		–			(0.28	)		19.00		35.78			35.76			48,255			0.64			0.62			1.62			1.60			45
	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
Retirement Class
	3/31/21		14.86		0.27			4.99			5.26			(0.26	)		–			(0.26	)		19.86		35.58			35.56			533,102			0.74			0.72			1.52			1.51			45
	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
Retail Class
	3/31/21		14.09		0.25			4.73			4.98			(0.25	)		–			(0.25	)		18.82		35.57			35.55			367,908			0.79			0.76			1.48			1.46			45
	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

^a	Based on average shares outstanding.
^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.

2021 Annual Report § TIAA-CREF Real Estate Securities Fund

See notes to financial statements

TIAA-CREF Real Estate Securities Fund § 2021 Annual Report

Notes to financial statements

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	2021 Annual 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.

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.

TIAA-CREF Real Estate Securities Fund ■ 2021 Annual Report

Notes to financial statements

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 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.

New rule issuance: In December 2020, the SEC voted to adopt a new rule governing fund valuation practices. New Rule 2a-5 under the 1940 Act establishes requirements for determining fair value in good faith for purposes of the 1940 Act. Rule 2a-5 will permit fund boards to designate certain parties to perform fair value determinations, subject to board oversight and certain other conditions. Rule 2a-5 also defines when market quotations are “readily available” for purposes of Section 2(a)(41) of the 1940 Act, which requires a fund to fair value a security when market quotation are not readily available. The SEC also adopted new Rule 31a-4 under the 1940 Act, which sets forth the recordkeeping requirements associated with fair value determinations. Finally, the SEC is rescinding previously issued guidance on related issues, including the role of a board in determining fair value and the accounting and auditing of fund investments. Rule 2a-5 and Rule 31a-4 became effective on March 8, 2021, with a compliance date of September 8, 2022. A fund may voluntarily comply with the rules after the effective date, and in advance of the compliance date, under certain conditions. Management is currently assessing the impact of these provisions on the Funds’ financial statements.

Note 3—valuation of investments

The Fund’s investments in securities are recorded at their estimated fair value utilizing valuation methods approved by the Board. Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. U.S. GAAP establishes the three-tier hierarchy that is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect management’s assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best

24	2021 Annual Report ■ TIAA-CREF Real Estate Securities Fund

continued

information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.

•	Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
•	Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, credit spreads, etc.).
•	Level 3 – Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).

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

Debt securities: Prices of fixed-income securities are provided by an independent pricing service (“pricing service”) approved by the Board. The pricing service establishes a security’s fair value using methods that may include consideration of the following: yields or prices of investments of comparable quality, type of issue, coupon, maturity and rating, market quotes or indications of value from security dealers, evaluations of anticipated cash flows or collateral, general market conditions and other information and analysis, including the obligor’s credit characteristics considered relevant. In pricing certain securities, particularly less liquid and lower quality securities, the pricing service may consider information about a security, its issuer or market activity, provided by Advisors. These securities are generally classified as Level 2.

Exchange-traded equity securities, common and preferred stock: Equity securities and exchange-traded funds 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. 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. To the extent these securities are actively traded and that valuation adjustments are not applied, they are categorized as Level 1. If there is no official close of business, then the latest available sale price is utilized. If no sales are reported, then the mean of the latest available bid and asked prices is utilized and the securities are generally classified as Level 2.

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. These foreign securities are generally classified as Level 2.

Investments in registered investment companies: Investments in investment companies are valued at their respective NAVs on the valuation date and are generally classified as Level 1.

Any portfolio security or derivative for which market quotations are not readily available or for which the above valuation procedures are deemed not to reflect fair

TIAA-CREF Real Estate Securities Fund ■ 2021 Annual Report

Notes to financial statements

value are valued at fair value, as determined in good faith using procedures approved by the Board. As a general principle, the fair value of a security would appear to be the amount that the owner might reasonably expect to receive for it in a current sale. A variety of factors may be considered in determining the fair value of such securities, which may include consideration of the following: yields or prices of investments of comparable quality, type of issue, coupon, maturity and rating, market quotes or indications of value from security dealers, evaluations of anticipated cash flows or collateral, general market conditions and other information and analysis, including the obligor’s credit characteristics considered relevant. To the extent the inputs are observable and timely, the values would be classified as Level 2; otherwise they would be classified as Level 3.

The following table summarizes the market value of the Fund’s investments as of March 31, 2021, based on the inputs used to value them:

	Level 1		Level 2		Level 3		Total
Equity investments:
Internet services & infrastructure	$	34,463,250	$	28,796,670	$	–	$	63,259,920
Residential REITs		732,669,250		16,207,555		–		748,876,805
All other equity investments*		2,435,771,240		–		–		2,435,771,240
Short-term investments		–		34,316,995		–		34,316,995
Total	$	3,202,903,740	$	79,321,220	$	–	$	3,282,224,960

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

Note 4—investments

Purchases and sales: Purchases and sales of securities (other than short-term instruments) for the Fund for the year ended March 31, 2021 were as follows:

Non-U.S. government purchases				Non-U.S. government sales
	$1,609,682,682				$1,205,550,452

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.

26	2021 Annual Report ■ TIAA-CREF Real Estate Securities Fund

continued

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.

For the year ended March 31, 2021, permanent book and tax differences resulting primarily from differing treatments for foreign currency transactions were identified and reclassified among the components of the Fund’s net assets. Net investment income and net realized gains (losses), as disclosed on the Statement of operations, and net assets were not affected by these reclassifications.

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 March 31, 2021, 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)
	$2,278,721,667				$1,035,299,180				$(31,795,887	)			$1,003,503,293

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 years ended March 31, 2021 and March 31, 2020 was as follows:

	Ordinary income		Long-term capital gains		Total
3/31/2021	$	47,124,335	$	–	$	47,124,335
3/31/2020		65,151,969		100,228,608		165,380,577

Components of accumulated earnings: As of March 31, 2021, the components of accumulated earnings on a tax basis were as follows:

Fund		Undistributed ordinary income				Undistributed long-term capital gains				Unrealized appreciation (depreciation)				Capital loss carryover				Total
Real Estate Securities			$3,684,329				$30,064,546			$	1,003,498,025			$	–			$	1,037,246,900

TIAA-CREF Real Estate Securities Fund ■ 2021 Annual Report

Notes to financial statements

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 0.47% as of March 31, 2021. 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 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

28	2021 Annual Report ■ TIAA-CREF Real Estate Securities Fund

continued

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.

The Fund 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 the year ended March 31, 2021, these transactions did not materially impact the Fund.

At March 31, 2021, 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 March 31, 2021, one 529 Plan owned 9% 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 March 31, 2021, 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 year ended March 31, 2021, 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 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

TIAA-CREF Real Estate Securities Fund ■ 2021 Annual Report

Notes to financial statements

concluded

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 year ended March 31, 2021, there were no borrowings under this credit facility by the Fund.

30	2021 Annual Report ■ TIAA-CREF Real Estate Securities Fund

Report of independent registered public accounting firm

To the Board of Trustees of TIAA-CREF Funds and Shareholders of TIAA-CREF Real Estate Securities Fund

Opinion on the Financial Statements

We have audited the accompanying statement of assets and liabilities, including the portfolio of investments, of TIAA-CREF Real Estate Securities Fund (one of the funds constituting TIAA-CREF Funds, hereafter referred to as the “Fund”) as of March 31, 2021, the related statement of operations for the year ended March 31, 2021, the statement of changes in net assets for each of the two years in the period ended March 31, 2021, including the related notes, and the financial highlights for each of the five years in the period ended March 31, 2021 (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of March 31, 2021, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended March 31, 2021 and the financial highlights for each of the five years in the period ended March 31, 2021 in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility of the Fund’s management. Our responsibility is to express an opinion on the Fund’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of March 31, 2021 by correspondence with the custodian, and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/ PricewaterhouseCoopers LLP

Baltimore, Maryland
May 21, 2021

We have served as the auditor of one or more investment companies in TIAA-CREF Funds’ investment company group since 2005.

TIAA-CREF Real Estate Securities Fund ■ 2021 Annual Report

Important tax information (unaudited)

For the year ended March 31, 2021, the Fund designates 1.5% (or the maximum amount allowable) of ordinary income dividends paid as qualified dividend income.

For the year ended March 31, 2021, the Fund designates 1.5% (or the maximum amount allowable) of ordinary income dividends paid as qualifying for the corporate dividends received deduction.

For the year ended March 31, 2021, the Fund designates 88.3% (or maximum amount allowable) of ordinary income dividends paid as qualified business income.

The information and distributions reported herein may differ from the information and distributions reported to shareholders for the calendar year ending December 31, 2021, which will be reported in conjunction with your 2021 Form 1099-DIV.

By early 2022, shareholders should receive their Form 1099-DIV and a tax information letter from the Fund. For your specific situation, we recommend that you consult a professional tax adviser.

32	2021 Annual Report ■ TIAA-CREF Real Estate Securities Fund

Trustees and officers (unaudited)

TIAA-CREF Funds ■ May 12, 2021

Trustees

Name, Address and Year of Birth (“YOB”)	Position(s) Held with Fund	Term of Office and Length of Time Served	Principal Occupation(s) During Past 5 Years	Number of Portfolios in Fund Complex Overseen by Trustee	Other Directorship(s) Held by Trustee
Forrest Berkley c/o Corporate Secretary 730 Third Avenue New York, NY 10017-3206 YOB: 1954	Trustee	Indefinite term. Trustee since 2006.	Retired Partner (since 2006), Partner (1990–2005) and Head of Global Product Management (2003–2005), GMO (formerly, Grantham, Mayo, Van Otterloo & Co.) (investment management); and member of asset allocation portfolio management team, GMO (2003–2005).	88	Director, Save the Children Federation, Inc.; Investment Committee Member, Maine Community Foundation.
Joseph A. Boateng c/o Corporate Secretary 730 Third Avenue New York, NY 10017-3206 YOB: 1963	Trustee	Indefinite term. Trustee since 2019.	Chief Investment Officer, Casey Family Programs (since 2007). Director of U.S. Pension Plans at Johnson & Johnson (2002–2006). Manager, Financial Services Consultant, KPMG Consulting (2000–2002).	88	Board Member, Lumina Foundation and Waterside School; Investment Advisory Committee Chair, Seattle City Employees’ Retirement System; Investment Committee Member, The Seattle Foundation.
Janice C. Eberly c/o Corporate Secretary 730 Third Avenue New York, NY 10017-3206 YOB: 1962	Trustee	Indefinite term. Trustee since 2018.	James R. and Helen D. Russell Professor of Finance at the Kellogg School of Management, Northwestern University (2002–2011 and since 2013), Senior Associate Dean for Strategy and Academics (since 2020) and Chair of the Finance Department (2005–2007). Assistant Secretary for Economic Policy, United States Department of the Treasury (2011–2013).	88	Member of the Board of the Office of Finance, Federal Home Loan Banks; Director, Avant, LLC; Member of the Executive Board, American Economic Association.

TIAA-CREF Real Estate Securities Fund ■ 2021 Annual Report

Trustees and officers (unaudited)

continued

TIAA-CREF Funds ■ May 12, 2021

Trustees — concluded

Name, Address and Year of Birth (“YOB”)	Position(s) Held with Fund	Term of Office and Length of Time Served	Principal Occupation(s) During Past 5 Years	Number of Portfolios in Fund Complex Overseen by Trustee	Other Directorship(s) Held by Trustee
Nancy A. Eckl c/o Corporate Secretary 730 Third Avenue New York, NY 10017-3206 YOB: 1962	Trustee	Indefinite term. Trustee since 2007.	Vice President (1990–2006), American Beacon Advisors, Inc., and of certain funds advised by American Beacon Advisors, Inc.	88	Independent Director, The Lazard Funds, Inc., Lazard Retirement Series, Inc., and Lazard Global Total Return and Income Fund, Inc.
Michael A. Forrester c/o Corporate Secretary 730 Third Avenue New York, NY 10017-3206 YOB: 1967	Trustee	Indefinite term. Trustee since 2007.	Chief Executive Officer (2014–2021) and Chief Operating Officer (2007–2014), Copper Rock Capital Partners, LLC. Chief Operating Officer, DDJ Capital Management (2003–2006).	88	Trustee, Dexter Southfield School; Member, Governing Council of the Independent Directors Council.
Howell E. Jackson c/o Corporate Secretary 730 Third Avenue New York, NY 10017-3206 YOB: 1954	Trustee	Indefinite term. Trustee since 2005.	James S. Reid, Jr. Professor of Law (since 2004), Senior Advisor to President and Provost (2010–2012), Acting Dean (2009), Vice Dean for Budget (2003–2006) and on the faculty (since 1989) of Harvard Law School.	88	Director, Commonwealth (non-profit organization).
Thomas J. Kenny c/o Corporate Secretary 730 Third Avenue New York, NY 10017-3206 YOB: 1963	Chairman of the Board and Trustee	Indefinite term. Trustee since 2011; Chairman for term ending June 30, 2023. Chairman since September 13, 2017.	Advisory Director (2010–2011), Partner (2004–2010), Managing Director (1999–2004) and Co-Head of Global Cash and Fixed Income Portfolio Management Team (2002–2010), Goldman Sachs Asset Management.	88	Director and Chair of the Finance and Investment Committee, Aflac Incorporated; Director and Investment Committee Member, Sansum Clinic; Director, ParentSquare; Member, University of California at Santa Barbara Arts and Lectures Advisory Council.

34	2021 Annual Report ■ TIAA-CREF Real Estate Securities Fund

James M. Poterba c/o Corporate Secretary 730 Third Avenue New York, NY 10017-3206 YOB: 1958	Trustee	Indefinite term. Trustee since 2006.	President and Chief Executive Officer (since 2008) and Program Director (1990–2008), National Bureau of Economic Research. Mitsui Professor of Economics, Massachusetts Institute of Technology (“MIT”) (since 1996); Affiliated Faculty Member of the Finance Group, Alfred P. Sloan School of Management (since 2014); Head (2006–2008) and Associate Head (1994–2000 and 2001–2006), Economics Department of MIT.	88	Director, National Bureau of Economic Research; Trustee, Alfred P. Sloan Foundation; Member, Congressional Budget Office Panel of Economic Advisers.
Maceo K. Sloan c/o Corporate Secretary 730 Third Avenue New York, NY 10017-3206 YOB: 1949	Trustee	Indefinite term. Trustee since 1999.	Chairman, President and Chief Executive Officer, Sloan Financial Group, Inc. (1991–2018); Chairman and Chief Executive Officer (1991–2016), Chief Investment Officer (1991–2013) and Chief Compliance Officer (2015–2016), NCM Capital Management Group, Inc.; Chairman, Chief Executive Officer (2003–2016), Chief Investment Officer (2003–2013) and Chief Compliance Officer (2015–2016), NCM Capital Advisers, Inc.; and Chairman, President and Principal Executive Officer, NCM Capital Investment Trust (2007–2012).	88	Director, TheraTrue Inc.
Laura T. Starks c/o Corporate Secretary 730 Third Avenue New York, NY 10017-3206 YOB: 1950	Trustee	Indefinite term. Trustee since 2006.	Charles E. and Sarah M. Seay Regents Chair in Finance (since 2002), Co-Executive Director, Social Innovation Initiative (since 2015), Director, AIM Investment Center (2000–2016), Associate Dean for Research (2011–2016), Chairman, Department of Finance (2002–2011) and Professor (since 1987), McCombs School of Business, University of Texas at Austin. President (2019–2020), Vice President (2013–2018), Society of Financial Studies. President (since 2020), Vice President (2019–2020) American Finance Association.	88	Texa$aver Product Committee Member, Employees Retirement System of Texas.

TIAA-CREF Real Estate Securities Fund ■ 2021 Annual Report

Trustees and officers (unaudited)

concluded

TIAA-CREF Funds ■ May 12, 2021
Officers

Name, Address and Year of Birth (“YOB”)	Position(s) Held with Fund	Term of Office and Length of Time Served	Principal Occupation(s) During Past 5 Years
Richard S. Biegen TIAA 730 Third Avenue New York, NY 10017-3206 YOB: 1962	Chief Compliance Officer	One-year term. Chief Compliance Officer since 2008.	Senior Managing Director, TIAA. Chief Compliance Officer of the College Retirement Equities Fund (“CREF”), TIAA Separate Account VA-1, TIAA-CREF Funds and TIAA-CREF Life Funds (collectively, the “TIAA-CREF Fund Complex”).
Derek B. Dorn TIAA 730 Third Avenue New York, NY 10017-3206 YOB: 1976	Senior Managing Director and Corporate Secretary	One-year term. Senior Managing Director and Corporate Secretary since 2020.	Senior Managing Director and Corporate Secretary of TIAA and the TIAA-CREF Fund Complex. Formerly, Managing Director, Special Assistant to the CEO, and Managing Director, Regulatory Affairs, TIAA. Prior to joining TIAA, Mr. Dorn served as a partner at Davis & Harman LLP and an adjunct professor of Law at Georgetown University Law Center.
Bradley Finkle TIAA 730 Third Avenue New York, NY 10017-3206 YOB: 1973	Principal Executive Officer and President	One-year term. Principal Executive Officer and President since 2017.	Chief Operating Officer, Nuveen. Principal Executive Officer and President of the TIAA-CREF Funds and TIAA-CREF Life Funds. Chief Executive Officer and President of CREF and TIAA Separate Account VA-1. Formerly, Senior Managing Director, Co-Head Nuveen Equities & Fixed Income and President of TIAA Investments.
Jose Minaya TIAA 730 Third Avenue New York, NY 10017-3206 YOB: 1971	Executive Vice President	One-year term. Executive Vice President since 2018.	Chief Executive Officer, Nuveen. Executive Vice President of the TIAA-CREF Fund Complex. Formerly, Executive Vice President, President and Chief Investment Officer, Nuveen; Executive Vice President, Chief Investment Officer and President, Nuveen Global Investments; and Senior Managing Director, President, Global Investments, TIAA.

36	2021 Annual Report ■ TIAA-CREF Real Estate Securities Fund

David Nason TIAA 730 Third Ave. New York, NY 10017-3206 YOB: 1970	Executive Vice President	One-year term. Executive Vice President since 2020.	Senior Executive Vice President, Chief Legal, Risk and Compliance Officer of TIAA. Executive Vice President of the TIAA-CREF Fund Complex. Formerly, Executive Vice President, Chief Risk and Compliance Officer, TIAA. Prior to joining TIAA, Mr. Nason served as President and CEO of GE Energy Financial Services.
Phillip T. Rollock TIAA 730 Third Ave. New York, NY 10017-3206 YOB: 1962	Executive Vice President and Chief Legal Officer	One-year term. Executive Vice President and Chief Legal Officer since 2018.	Executive Vice President and Chief Legal Officer of TIAA and the TIAA-CREF Fund Complex. Formerly, Executive Vice President, Deputy Chief Legal Officer, TIAA and Senior Managing Director, Senior General Counsel and Corporate Secretary of TIAA and the TIAA-CREF Fund Complex.
E. Scott Wickerham TIAA 730 Third Avenue New York, NY 10017-3206 YOB: 1973	Principal Financial Officer, Principal Accounting Officer and Treasurer	One-year term. Principal Financial Officer, Principal Accounting Officer and Treasurer since 2017.	Senior Managing Director, Head, Publics Investment Finance, Nuveen. Principal Financial Officer, Principal Accounting Officer and Treasurer of the TIAA-CREF Fund Complex; and Vice President and Controller of the Nuveen Funds. Formerly, Managing Director, Head, TC Fund Administration, Nuveen.
Sean N. Woodroffe TIAA 730 Third Avenue New York, NY 10017-3206 YOB: 1963	Executive Vice President	One-year term. Executive Vice President since 2018.	Senior Executive Vice President, Chief Human Resources Officer of TIAA, and Executive Vice President of the TIAA-CREF Fund Complex. Prior to joining TIAA, Mr. Woodroffe served as Chief People Officer at National Life Group.

Please note that the Funds’ Statement of Additional Information (SAI) includes additional information about the Funds’ trustees and is available, without charge, through our website, tiaa.org, or by calling 800 223-1200.

TIAA-CREF Real Estate Securities Fund ■ 2021 Annual Report

Approval of investment management agreement (unaudited)

Board renewal of the investment management agreement for the TIAA-CREF Real Estate Securities Fund

The Board of Trustees (the “Board” or the “Trustees”) of the TIAA-CREF Funds (the “Trust”) determines whether to initially approve and periodically renew the investment management agreement (the “Agreement”) between Teachers Advisors, LLC (“Advisors”) and the Trust on behalf of each series of the Trust. Under the Agreement, Advisors is responsible for providing investment advisory services to each series of the Trust and overseeing the everyday operations and other service providers of the Trust. Below is a summary of the process the Board undertook related to its most recent renewal of the Agreement with respect to the TIAA-CREF Real Estate Securities Fund (the “Fund”).

Section 15(c) of the Investment Company Act of 1940, as amended (the “1940 Act”), requires that, after an initial period of up to two years, the Agreement for the Fund will remain in effect only if the Board, including a majority of those Trustees who have no direct or indirect interest in the Agreement, and who are independent Trustees because they are not “interested persons” of the Trust, as that term is defined in the 1940 Act, annually renews the Agreement. None of the Trustees is an interested person of the Trust under the 1940 Act. Rather, they are all deemed to be independent Trustees.

Under normal circumstances, Section 15(c) requires any initial approval or annual renewal of an investment management agreement to be made at an in-person meeting of the Board. However, due to the COVID-19 pandemic, the Securities and Exchange Commission (“SEC”) issued a temporary, conditional exemptive order (the “SEC Order”), permitting mutual fund boards to vote to approve matters subject to the Section 15(c) in-person approval requirement at a meeting that is not held in person if the board determines that reliance on the SEC Order is necessary or appropriate due to prevailing circumstances related to the current or potential effects of COVID-19 and the board ratifies any action taken pursuant to the SEC Order at its next in-person meeting.

Overview of the renewal process

The Board held a videoconference meeting on March 12, 2021, in order to consider the annual renewal of the Agreement with respect to the Fund using the process established by the Board described further below. At the outset of the meeting, the Board considered reliance upon the SEC Order and determined that such reliance was necessary due to, among other considerations, COVID-19 pandemic-related social distancing requirements, travel restrictions and other governmental mandates imposed for health and safety reasons. The Board noted that it would ratify actions taken at this meeting pursuant to the SEC Order at its next in-person meeting.

As part of the Board’s established process, the Board delegated certain tasks to its Operations Committee. Among these tasks, the Operations Committee or certain of

38	2021 Annual Report ■ TIAA-CREF Real Estate Securities Fund

its designated members worked with Advisors, other Board members and legal counsel to the Trustees to develop guidance and specific requests relating to the types of information to be provided to the Board in connection with the proposed contract renewals.

Among other matters, the Operations Committee or certain of its designated members, following consultations with representatives of Advisors, other Board members, legal counsel to the Trustees and legal counsel to Advisors and the Trust, confirmed or established certain guidance regarding the preparation of reports to be provided to the Board with respect to the Fund by the Board Reporting and Compliance unit of Broadridge Financial Solutions, Inc. (“Broadridge”), using data from Lipper, Inc., an independent provider of investment company data. The Operations Committee considered that Broadridge is widely recognized as a leading provider of comparative analyses used by independent directors and trustees of investment companies during their advisory contract review processes.

Based on guidance provided by the Operations Committee or certain of its designated members on behalf of the Board, Broadridge produced, among other information, comparative performance and expense data for the Fund, including data relating to the Fund’s management fee rate, total expense ratio, short-term and long-term investment performance, brokerage commission costs and portfolio turnover rate. Broadridge compared this data, as relevant, for the Fund against a universe of investment companies (except for brokerage commission costs) and against a more selective peer group of mutual funds with similar investment objectives and strategies, each of which was selected by Broadridge, and also compared the performance of the Fund against one or more appropriate broad-based indices. In each case, Broadridge summarized, and the Board considered, the methodologies Broadridge employed to provide the data contained in its reports. In addition, Broadridge represented to the Board that its reports were designed specifically to provide the Board with the fee, expense and performance information that is necessary to help the Board satisfy its duties under Section 15(c) of the 1940 Act. Broadridge also represented that the purpose of its reports is to provide an objective view of the Fund’s relative position regarding the level of fees, expenses and performance against a competitive peer group and universe (as applicable) selected by Broadridge (and not Advisors or the Board). The Board considered the propriety of the Fund’s applicable peer group as selected by Broadridge and use of the Institutional Class shares as the base share class for comparison purposes.

TIAA-CREF Real Estate Securities Fund ■ 2021 Annual Report

Approval of investment management agreement (unaudited)

continued or modified in the coming year; (3) a comparison of the Fund’s management fee rate and performance to other accounts with comparable strategies managed by Advisors or certain of its affiliates; (4) any “fall-out” benefits that accrued or were identified as reasonably likely to accrue to Advisors or its affiliates due to their relationship with the Fund in addition to the Fund’s direct fee payments to Advisors pursuant to the Agreement; (5) information regarding Advisors’ financial resources, senior professional personnel, overall staffing levels, portfolio manager compensation arrangements, capacity to manage the Fund at current and foreseeable asset levels, insurance coverage, portfolio trading, soft dollar usage and best execution practices, and any actual and potential conflicts of interest identified by Advisors in connection with rendering services to the Fund; (6) information as to any profits earned by Advisors in connection with its services pursuant to the Agreement; (7) a copy of the Agreement and certain related agreements between the Fund and affiliates of Advisors; (8) a copy of Advisors’ Form ADV as filed with the SEC (which was presented only to legal counsel for the Trustees); and (9) draft narrative explanations to be included in shareholder reports of reasons why the Board should renew the Agreement. The Trustees were also provided with performance ratings of Morningstar, Inc. (“Morningstar”), which is a widely recognized mutual fund ranking service.

On March 4, 2021, the Board held a videoconference meeting with legal counsel to the Trustees to discuss Advisors’ materials, which led to the Trustees providing additional questions to, and requesting additional information from, Advisors. Subsequently, at the March 12, 2021 meeting, the Trustees were given the opportunity to, and did, ask additional questions and they discussed responses from Advisors to the Board’s follow-up questions and requests presented by the Board after its initial review of the information described above.

In considering whether to renew the Agreement with respect to the Fund, the Board considered various factors, including: (1) the nature, extent and quality of services provided or to be provided by Advisors to the Fund; (2) the Fund’s investment performance; (3) the costs of the services provided to the Fund and the profits realized or potential profits to be realized by Advisors from their relationship with the Fund; (4) fees charged to comparable mutual funds by other advisers; (5) the extent to which economies of scale have been realized or are anticipated to be realized as the Fund grows; (6) how such economies of scale are shared with the Fund for the benefit of its investors, such as through management fee breakpoints; (7) comparisons of the services provided by Advisors to, and the fee rates and performance of, the Fund to other clients to whom Advisors provides comparable services; and (8) any other benefits identified by Advisors derived or anticipated to be derived by Advisors or its affiliates from their relationship with the Fund. As part of the Board’s review of these factors, the Board received information from management on the impact of the COVID-19 pandemic on the Teachers Insurance and Annuity Association of America (“TIAA”) enterprise generally and the Fund in particular including, among other information, the current and expected impact on the Fund’s performance and operations. As a general matter, the Board considered

40	2021 Annual Report ■ TIAA-CREF Real Estate Securities Fund

continued

these factors, and any other factors deemed relevant by the Trustees, in their totality, and no single factor was identified as being the determining factor in deciding whether to renew the Agreement.

In addition to the March 12, 2021 meeting that included Advisors’ personnel, the Trustees met in executive sessions, at which no representatives of Advisors were present, to discuss the proposed renewal of the Agreement for the Fund. The Board also received and considered information from its legal counsel as to certain relevant guidance that relates to the renewal process under Section 15(c) of the 1940 Act and certain other legal authorities.

While the contract renewal process included a series of discussions and meetings leading up to the March 12, 2021 meeting, the oversight and evaluation of Advisors’ services to the Fund by the Board and its Committees is an ongoing process. The Board, as well as its Committees, discussed reports on various investment and operational topics that had been identified by the Board or its Committees for review in the year since the last annual renewal process. Further, at their regularly scheduled meetings, the Board and its Investment Committee and its other Committees receive and discuss information regarding the performance of the Fund and other matters. Thus, in reaching its decisions regarding the renewal of the Agreement for the Fund, the Board took into account the information described herein and other information provided to the Board and its Committees throughout the year.

The Board received and considered both Trust-level and Fund-specific information, but made its renewal determinations on a Fund-level basis. In deciding whether to renew the Agreement for the Fund, each Trustee may have accorded different weight to different factors and, thus, may have had a different basis for his or her ultimate decision to vote to renew the Agreement for the Fund. At its meeting on March 12, 2021, all Board members voted unanimously to renew the Agreement for the Fund. Set forth below is a summary of the primary factors the Board considered with respect to the Fund.

The nature, extent and quality of services

TIAA-CREF Real Estate Securities Fund ■ 2021 Annual Report

Approval of investment management agreement (unaudited)

monitoring; coordinating the activities of the Fund’s service providers; and overseeing the provision of various administrative services to the Fund. The Board considered that Advisors has carried out these responsibilities in a competent and professional manner. The Board also considered that Advisors has committed significant resources to supporting the series of the Trust, including the Fund. It also considered Advisors’ compliance program and resources and its compliance record with respect to the Fund.

The Board also considered, among other factors, the performance of the Fund, as discussed below. In addition, the Board considered the nature and quality of non-portfolio management services provided by Advisors and its affiliates. In this regard, the Board considered its ongoing review of the performance of certain affiliated and unaffiliated service providers, including the quality of services provided by those firms and Advisors’ oversight of those service providers and the outsourcing of certain services to other firms.

During its review, the Board noted its ongoing efforts to examine the level of personnel and other resources available to Advisors to provide portfolio management and other services to the Fund, including the impact of recent and anticipated regulatory requirements and operational changes on such resources, so as to assess the adequacy of the resources devoted to these services.

Investment performance

The Board considered the investment performance of the Fund over the one-, three-, five- and ten-year periods ended December 31, 2020. The Board considered the Fund’s performance as compared to its peer group and peer universe and its benchmark index. For details regarding the Fund’s performance, see the synopsis below. The Board concluded that, under the totality of circumstances considered, the investment performance of the Fund was reasonable.

Cost and profitability

The Board considered financial and profitability data relating to Advisors’ services to the Fund for the calendar year 2020. The Board considered Advisors’ profit calculations with respect to its services to the Fund both before and after taking into account the costs incurred directly or indirectly by Advisors in connection with the distribution of shares of the Fund. The Board acknowledged the reasonableness of having a management fee rate that permits Advisors to maintain and improve the quality of services provided to the Fund and recognized the entrepreneurial and other risks assumed by Advisors in managing the Fund. The Board considered that Advisors calculated that it had earned profits with respect to the Fund under the Agreement for the one-year period ended December 31, 2020. The Board also considered Advisors’ voluntary effort to reduce the Fund’s management fee rate by 0.025% from May 1, 2020 through April 30, 2021. The Board also acknowledged Advisors’ commitment to reimburse Fund expenses to the extent that total annual

42	2021 Annual Report ■ TIAA-CREF Real Estate Securities Fund

continued

operating expenses exceeded a specified amount. The Board concluded that the profits earned by Advisors in 2020 from its services to the Fund were reasonable in light of various relevant factors.

Fees charged by other advisers

The Board considered comparative information regarding the Fund’s contractual and effective management fee rates and the contractual and effective management fee rates paid by similar mutual funds to other advisers, as analyzed by Broadridge and reflected in the synopsis below. The Board determined that the management fee rate charged to the Fund under the Agreement typically was lower than the management fee rates charged to most other comparable mutual funds. In this connection, the Board also considered the inherent limitations of such comparisons in light of uncertainty as to how the fees of such similar mutual funds are set and potentially material differences between the Fund and its comparable mutual funds. The Board considered Broadridge’s treatment of all fund fee waivers, regardless of their type, as management fee waivers, which could materially impact how the Fund’s actual management fee rate compares to those of similar mutual funds. Additionally, the Board considered the potential limitations of such comparisons due to, among other factors, the fact that, in many instances, Broadridge based its comparisons on financial data relating to fiscal periods that differed from the period for which the Fund’s data were derived. Based on all factors considered, the Board concluded that the management fee rate under the Agreement with respect to the Fund was reasonable in relation to those charged by appropriate groups of comparable mutual funds.

Economies of scale

The Board considered whether Advisors has experienced or is anticipated to experience economies of scale in connection with the operation of the Fund, and whether any such economies are shared with the Fund. The Board also considered the extent to which the current fee rate schedule breakpoints for the Fund affected Advisors’ fees. The Board considered, in connection with the supporting Broadridge reports, Advisors’ position that the maximum fee rate that could be charged to the Fund based on its level of assets under the Agreement is comparatively low in relation to peer groups of mutual funds. The Board also considered Advisors’ reimbursement to the Fund for all of the soft dollar amounts the Fund spent on research during the year. Based on all factors considered, the Board concluded that the Fund’s management fee rate schedule was reasonable in light of current economies of scale considerations and the Fund’s current asset level.

Fee and performance comparisons with other Advisors clients

TIAA-CREF Real Estate Securities Fund ■ 2021 Annual Report

Approval of investment management agreement (unaudited)

Board considered that Advisors did not currently manage any other products with comparable investment strategies to the Fund’s investment strategy. The Board also considered Advisors’ comments that, in the future, Advisors may manage client assets through additional funds and accounts with similar investment strategies. The Board also considered Advisors’ representation that, while the management fee rate charged to the Fund may differ from the management fee rates chargeable to these other funds and other accounts, this may be due in part to the fact that these other funds and accounts may: (1) involve less entrepreneurial risk on the part of Advisors; (2) be offered in different types of markets; (3) be provided with different types or levels of services; (4) have different regulatory burdens; and/or (5) target different investors.

Other benefits

The Board also considered additional “fall-out benefits” to Advisors and its affiliates arising from the Agreement. Such benefits include, among others, other fees paid by the Fund to Advisors or its affiliates for other services, such as distribution, administration and investment-related benefits, such as economies of scale to the extent the Fund shares investment resources and/or personnel with other clients of Advisors and the use of research obtained through the payment of soft dollars by the Fund by other clients of Advisors. Advisors and its affiliates may also benefit from the level of business and relationships the Funds have with certain service providers. Additionally, the Fund may be utilized as investment options for other products and businesses of Advisors and its affiliates, such as variable products, fund of funds and 529 education savings plans. Also, Advisors and its affiliates may benefit from their relationship with the Fund to the extent that this relationship results in potential investors viewing TIAA, of which Advisors is an indirect, wholly-owned subsidiary, as a leading retirement plan provider in the academic and non-profit markets and as a single source for all their financial service needs.

Synopsis of factors

The Board considered the following specific factors (among others) in connection with its determination to renew the Agreement with respect to the Fund. When the Fund is described in the following discussion as being in the “1st” quintile, it is in the best of five groups (that is, the group has the best performance or the lowest expenses, as the case may be). References below to quintiles are based on data provided to the Board in the reports prepared by Broadridge. The specific management fee, expense and performance factors outlined below are based on the Institutional Class shares of the Fund. Because the Institutional Class generally has lower non-management expenses than the other classes of the Fund, the expenses and performance of these other classes will differ from the expenses and performance shown for the Institutional Class. All time periods referenced below are ended December 31, 2020. Under the Morningstar rating system, an Overall Morningstar Rating of 5 stars is the highest (best) rating category and 1 star is the

44	2021 Annual Report ■ TIAA-CREF Real Estate Securities Fund

concluded

lowest (worst) rating category. The Morningstar data is as of December 31, 2020. The statement below regarding the Fund’s “effective management fee rate” refers to the overall effective blended fee rate that applied to the Fund after taking into account any breakpoints in the management fee rate schedule for the Fund and any applicable fee waivers and/or expense reimbursements.

•	The Fund’s annual contractual management fee rate starts at 0.50% of average daily net assets, and includes breakpoints that reduce the rate paid on assets above certain thresholds. The Fund’s effective management fee rate at its December 31, 2020 asset level was 0.470% of average daily net assets, which includes the effect of a voluntary management fee rate waiver of 0.025% for the year ended April 30, 2021.
•	The Fund’s total expense ratio, actual management fee rate and contractual management fee rate were each in the 1st quintile of both the group and universe of comparable funds selected by Broadridge for expense comparison purposes.
•	The Fund was in the 1st quintile of both the group of comparable funds selected by Broadridge for performance comparison purposes and the universe of comparable funds selected by Broadridge for performance comparison purposes for each of the one-, three-, five- and ten-year periods.
•	The Fund received an Overall Morningstar Rating of 5 stars.
•	Advisors calculated that it earned a net profit with respect to its services to the Fund for the one-year period.

Based primarily on the foregoing factors and considerations, the Board renewed the Agreement for the Fund.

TIAA-CREF Real Estate Securities Fund ■ 2021 Annual Report

Liquidity risk management program

Discussion of the operation and effectiveness of the Fund’s liquidity risk management program

In compliance with Rule 22e-4 under the Investment Company Act of 1940, as amended (the “Liquidity Rule”), the series of the Trust covered by this Report (the “Fund”) has adopted and implemented a liquidity risk management program (the “Program”), which is reasonably designed to assess and manage the Fund’s liquidity risk. The Program consists of various provisions relating to assessing and managing Fund liquidity risk, as discussed further below. The Fund’s Board of Trustees (the “Board”) previously approved the designation of Advisors (the “Administrator”) as Program administrator. The Liquidity Monitoring and Analysis Team (the “LMAT”) carries out day-to-day Program management with oversight by the Liquidity Oversight Committee (the “LOSC”). Personnel from the Administrator and Nuveen Fund Advisors, LLC, an affiliate of the Administrator, comprise the LMAT and LOSC.

At a February 9, 2021 Board meeting, the Administrator provided the Board with a written report addressing the Program’s operation, adequacy, and effectiveness of implementation for the period from January 1, 2020 through December 31, 2020 (the “Review Period”), as required under the Liquidity Rule. The report noted that the Program has been and continues to be adequately and effectively implemented to monitor and (as applicable) respond to the Fund’s liquidity developments.

In accordance with the Program, the LMAT assesses the Fund’s liquidity risk no less frequently than annually based on various factors, such as (i) the Fund’s investment strategy and the liquidity of portfolio investments, (ii) cash flow projections, and (iii) holdings of cash and cash equivalents and borrowing arrangements and other funding sources. Certain factors are considered under both normal and reasonably foreseeable stressed conditions.

Fund portfolio investments are classified into one of four liquidity categories (including “highly liquid investments” and “illiquid investments,” discussed below). The classification is based on a determination of how long it is reasonably expected to take to convert the investment into cash, or sell or dispose of the investment, in current market conditions without significantly changing the market value of the investment. Liquidity classification determinations take into account various market, trading, and investment-specific considerations, as well as market depth, and utilize third-party vendor data.

A Fund that does not primarily hold highly liquid investments must, among other things, determine a minimum percentage of Fund net assets that must be invested in highly liquid investments (a “Highly Liquid Investment Minimum”). During the Review Period, the Fund primarily held highly liquid investments and therefore was exempt from the requirement to adopt a Highly Liquid Investment Minimum and to comply with the related requirements under the Liquidity Rule.

46	2021 Annual Report ■ TIAA-CREF Real Estate Securities Fund

The Liquidity Rule also limits the Fund’s investments in illiquid investments. Specifically, the Liquidity Rule prohibits acquisition of illiquid investments if doing so would result in the Fund holding more than 15% of its net assets in illiquid investments and requires certain reporting anytime a Fund’s holdings of illiquid investments exceed 15% of net assets. During the Review Period, the Fund did not exceed the 15% limit on illiquid investments.

TIAA-CREF Real Estate Securities Fund ■ 2021 Annual Report

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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.

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	TIAA-CREF	March 31,
	Funds	2021

TIAA-CREF
Fixed-Income Funds

The annual report contains the audited financial statements.

Institutional

Advisor

Premier

Retirement

Retail

Class

Fund name

Class

Bond Index Fund

TBIIX

TBIAX

TBIPX

TBIRX

TBILX

TBIWX

Core Bond Fund

TIBDX

TIBHX

TIDPX

TIDRX

TIORX

TBBWX

Core Impact Bond Fund

TSBIX

TSBHX

TSBPX

TSBBX

TSBRX

—

Core Plus Bond 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

—

Annual
Report

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
Audited financial statements
Statements of assets and liabilities	62
Statements of operations	66
Statements of changes in net assets	68
Financial highlights	76
Notes to financial statements	88
Report of independent registered public accounting firm	98
Important tax information	99
Trustees and officers	100
Approval of investment management agreement	103
Liquidity risk management program	109
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 annual report contains information about certain TIAA-CREF Funds and describes their results for the twelve months ended March 31, 2021. 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 March 31, 2021.
	•	The financial statements provide detailed information about the operations and financial condition of each fund.

TIAA-CREF Funds: Fixed-Income Funds ■ 2021 Annual Report

Brad Finkle

Letter to investors

The U.S. bond market posted broad gains for the twelve months ended March 31, 2021, as the U.S. economy, which struggled early in the period with the effects of the COVID-19 pandemic, later experienced a gradual recovery. For the period, each of the major fixed-income sectors produced positive results. All eleven TIAA-CREF Fixed-Income Funds, as well as the Money Market Fund, advanced over the twelve months.

• The broad U.S. bond market, as measured by the Bloomberg Barclays U.S. Aggregate Bond Index, gained 0.7% for the period.

• Institutional Class returns for seven of the eleven fixed-income funds outperformed the results of their respective benchmarks. Please see page 8 for benchmark definitions.

• Among the four remaining funds, the Inflation-Linked Bond Fund and the two index funds slightly lagged their benchmarks. The High-Yield Fund posted a strong double-digit gain, but also trailed its benchmark. The Money Market Fund modestly outperformed its benchmark.

Bonds gained as economy recovered

Although the U.S. economy contracted sharply early in the period, it rebounded over the summer and continued to grow into 2021. The unemployment rate, which spiked in April 2020, declined gradually over the course of the year, reflecting the economic recovery. The Federal Reserve held steady over the twelve months, maintaining the federal funds target rate at 0.00%–0.25%. Adding fuel to the economy, the federal government enacted two pandemic relief measures—a $900 billion stimulus package in December 2020 and a $1.9 trillion COVID-19 relief bill in March 2021.

The Bloomberg Barclays U.S. Aggregate Bond Index had steady gains for the first nine months of the period, but its advance was trimmed during the final three months when longer-term interest rates rose (bond yields move in the opposite direction of prices). High-yield bonds were the strongest fixed-income performers by a wide margin. U.S. Treasury inflation-protected securities and municipal bonds also generated solid returns, while short-term securities produced more modest gains.

All TIAA-CREF Funds recorded gains

Each of the TIAA-CREF Fixed-Income Funds generated a positive return for the twelve-month period. Performance for the Institutional Class ranged from 0.5% for the Bond Index Fund to 19.9% for the High-Yield Fund.

The High-Yield Fund’s gain trailed that of its benchmark, the ICE BofA BB-B U.S. Cash Pay High Yield Constrained Index.

The Green Bond Fund returned 8.3%—more than double the performance of its benchmark, the Bloomberg Barclays MSCI U.S. Green Bond Index. The Fund’s relative performance was aided most by holdings in the corporate bond sector.

4	2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

The Core Plus Bond Fund advanced 7.8%, while the Core Bond Fund gained 5.8% and the Core Impact Bond Fund returned 5.1%. All three funds outperformed their common benchmark, the Bloomberg Barclays U.S. Aggregate Bond Index, by wide margins. The funds benefited from overweight positions in the strong-performing corporate bond sector and underweight positions in the U.S. Treasury sector, which declined for the period.

The Inflation-Linked Bond Fund gained 7.5% but modestly trailed its benchmark, the Bloomberg Barclays U.S. Treasury Inflation Protected Securities (TIPS) 1–10 Year Index, primarily due to the effect of expenses. The 5–15 Year Laddered Tax-Exempt Bond Fund advanced 6.5% to outpace its benchmark, the Bloomberg Barclays 10-Year Municipal Bond Index. Holdings in the transportation sector boosted the fund’s relative performance most.

The Short Duration Impact Bond Fund returned 6.9%, while the Short-Term Bond Fund gained 4.2%. Both handily exceeded the advance of their shared benchmark, the Bloomberg Barclays U.S. 1–3 Year Government/Credit Bond Index. A gain of 1.5% by the Short-Term Bond Index Fund fell short of the same benchmark, mostly due to the effect of expenses. The Bond Index Fund’s return underperformed that of its benchmark, the Bloomberg Barclays U.S. Aggregate Bond Index, also primarily due to the effect of expenses.

The Money Market Fund returned 0.1% and modestly outperformed its benchmark, 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.

Staying on course to achieve long-term goals

Despite the challenges of the past year, we believe there are reasons to feel more optimistic. The economic outlook in the United States has improved as the economy continues to show clear signs of growth. But, as always, the road ahead is far from certain. Recoveries often occur unevenly, and new concerns may develop along the way.

It’s understandable that some investors may consider making changes in their investment strategies to capitalize on the potential for short-term changes in the economy or financial markets. But in our view, investors should take a step back and look at the big picture. History has shown that maintaining a long-term perspective and following a well-thought-out financial plan is often a more prudent approach in helping investors reach their goals. We believe professionally managed fixed-income mutual funds can play an integral role in a diversified portfolio with multiple asset classes. Of course, diversification cannot guarantee against market losses.

Please feel free to visit TIAA.org for more information on asset class performance. As always, if you have any questions or need help with your TIAA-CREF fixed-income portfolio, we encourage you to contact your financial advisor or call a TIAA financial consultant at 800-842-2252. We stand ready to help you.

/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 ■ 2021 Annual Report

Market monitor

Bond markets gained while economy returned to growth

All major U.S. fixed-income markets advanced for the twelve-month period. The economy initially struggled with the impact of the COVID-19 pandemic, but as the period progressed, economic growth resumed. Aggressive monetary and fiscal actions, as well as the wide distribution of new virus vaccines later in the period, helped to bolster growth. The Federal Reserve left historically low short-term interest rates in place while also moving aggressively to support credit markets. The federal government enacted two large economic stimulus measures in December 2020 and March 2021. Investment-grade fixed-rate bonds, as represented by the Bloomberg Barclays U.S. Aggregate Bond Index, returned 0.7% for the period. Strong gains in the first half of the period were partially offset by losses in the first quarter of 2021.

Amid a very low interest-rate environment and a recovering economy, investors willing to take on additional risk for potentially greater returns were attracted to high-yield bonds. U.S. high-yield securities, as measured by the ICE BofA BB-B U.S. Cash Pay High Yield Constrained Index, returned 21.0%. The Bloomberg Barclays U.S. Treasury Inflation Protected Securities (TIPS) 1–10 Year Index gained 8.1%. Municipal bonds, as represented by the Bloomberg Barclays 10-Year Municipal Bond Index, advanced 5.4%. Short-term bonds, as represented by the Bloomberg Barclays U.S. 1–3 Year Government/Credit Bond Index, gained 1.6%.

High-yield bonds soared as economy recovered

U.S. bond performance: twelve months ended March 31, 2021

Source: 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 March 31, 2021.

Economy rebounded after initial COVID-19 impact

Real gross domestic product (GDP), which measures the value of all goods and services produced in the United States, posted a severe –31.4% contraction during the second quarter of 2020. The economy suffered as businesses temporarily closed and travel was restricted in response to the COVID-19 pandemic. But GDP quickly recovered, expanding by 33.4% and 4.3% in the third and fourth quarters of 2020, respectively.

The U.S. unemployment rate, which had soared to 14.7% in April 2020, declined steadily through the rest of the period and settled at 6.0% in March 2021. Core inflation, which includes all items except food and energy, rose 1.6% for the twelve months ended March 31, 2021. Oil prices, which plunged when global economies shrank in the early stages of the pandemic, bounced back as growth resumed. The price of West Texas Intermediate crude oil climbed from $20 to $59 per barrel during the period. The U.S. dollar lost ground against other major currencies over the twelve months.

The broad U.S. stock market, as measured by the Russell 3000^® Index, vaulted 62.5% for the period. Yields on short-term U.S. Treasury securities declined, but yields on bonds with longer maturities (three years and higher) rose during the period.

Fed held firm on historically low rates

The Fed, which had aggressively cut the federal funds target rate to 0.00–0.25% in March 2020, left the key short-term interest-rate measure unchanged for the twelve-month period. The Fed also supported financial markets by purchasing securities and offering credit to key market participants. Furthermore, the Fed maintained that there would be no action on rates until it saw specific signs of continued economic strength.

6	2021 Annual 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 websites at TIAA.org or nuveen.com; 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 ■ 2021 Annual Report

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	2021 Annual 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 (October 1, 2020–March 31, 2021).

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.

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.

TIAA-CREF Funds: Fixed-Income Funds ■ 2021 Annual Report

Bond Index Fund

Expense example

Six months ended March 31, 2021

Bond Index Fund	Beginning account value (10/1/20)		Ending account value (3/31/21)		Expenses paid during period* (10/1/20– 3/31/21)
Actual return
Institutional Class	$	1,000.00	$	972.22		$0.54
Advisor Class		1,000.00		971.75		1.03
Premier Class		1,000.00		971.50		1.28
Retirement Class		1,000.00		971.88		1.77
Retail Class		1,000.00		970.77		2.06
Class W		1,000.00		973.63		0.00
5% annual hypothetical return
Institutional Class		1,000.00		1,024.38		0.56
Advisor Class		1,000.00		1,023.88		1.06
Premier Class		1,000.00		1,023.64		1.31
Retirement Class		1,000.00		1,023.14		1.82
Retail Class		1,000.00		1,022.84		2.12
Class W		1,000.00		1,024.93		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 182/365. There were 182 days in the six months ended March 31, 2021. The Fund’s annualized six-month expense ratios for that period were 0.11% for the Institutional Class, 0.21% 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 3/31/2021
U.S. Treasury securities		36.6
Mortgage-backed securities		27.4
Corporate bonds		22.5
Foreign government & corporate bonds denominated in U.S. dollars		8.0
Commercial mortgage-backed securities		2.1
U.S. agency securities		1.4
Municipal bonds		0.8
Asset-backed securities		0.6
Short-term investments, other assets & liabilities, net		0.6
Total		100.0

Performance for the twelve months ended March 31, 2021

The Bond Index Fund returned 0.46% for the Institutional Class, compared with the 0.71% return of its benchmark, the Bloomberg Barclays U.S. Aggregate Bond Index. The performance table shows returns for all share classes of the Fund.

Economic growth resumed after pandemic setback

The U.S. economy contracted sharply early in the period due to the COVID-19 outbreak and global efforts to contain the spread of the virus. But the nation’s output recovered during the summer of 2020, and economic growth continued through the rest of the year and into 2021. The unemployment rate, which had spiked to 14.7% in April 2020, declined steadily during the period and settled at 6.0% in March 2021. Core inflation, which measures all items except food and energy, rose 1.6% over the twelve months ended March 2021. Crude oil prices, hit hard in the early stages of the pandemic, rose from $20 to $59 per barrel during the period.

The Federal Reserve, which had reduced the federal funds target rate in March 2020, kept the key short-term interest-rate measure at 0.00%–0.25% throughout the period. Meanwhile, the federal government enacted a $900 billion pandemic aid package in December 2020, followed by a $1.9 trillion COVID-19 relief bill in March 2021.

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

Treasury sector decline dampened overall performance of the benchmark

Most of the sectors within the Bloomberg Barclays U.S. Aggregate Bond Index advanced for the twelve months, with the notable exception of Treasuries—the benchmark’s largest sector at 37.4%—which returned –4.4% due to a spike in longer-term yields toward the end of the period. Corporate bonds, the second-largest sector with a weighting of 27.0%, had the strongest performance, rising 8.7%. Mortgage-backed securities, the third-largest sector in the index at 26.0%, posted the only other loss, returning –0.1%. Smaller sectors, including asset-backed securities, commercial mortgage-backed securities (CMBS) and government credit securities, delivered gains of 5.1%, 4.4% and 3.2%, respectively.

Fund trailed its benchmark

The Fund underperformed its benchmark for the twelve-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	2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

Performance as of March 31, 2021

Bond Index Fund			Total return				Average annual total return						Annual operating expenses*
	Inception date			1 year			5 years			10 years			gross			net
Institutional Class		9/14/09			0.46	%		2.92	%		3.30	%		0.11	%		0.11	%
Advisor Class		12/4/15			0.36			2.83			3.24	^†		0.22			0.22
Premier Class		9/30/09			0.40			2.77			3.14			0.27			0.27
Retirement Class		9/14/09			0.30			2.69			3.04			0.37			0.37
Retail Class		9/14/09			0.24			2.61			2.95			0.43			0.43
Class W		9/28/18			0.66			3.00	^†		3.33	^†		0.11			0.00
Bloomberg Barclays U.S. Aggregate Bond Index		—			0.71			3.10			3.44			—			—

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. Refer to the Financial highlights later in this report for the Fund’s expense ratios as of the end of the reporting period.

^†

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.

$10,000,000 over 10 years

Institutional Class

Holdings by maturity

	% of fixed-income investments (excluding short-term investments) as of 3/31/2021
Less than 1 year		1.3
1–3 years		16.4
3–5 years		35.8
5–10 years		28.0
Over 10 years		18.5
Total		100.0

Holdings by credit quality

% of fixed-income investments (excluding short-term investments) as of 3/31/2021
U.S. Treasury & U.S. agency securities*		65.5
Aaa/AAA		4.9
Aa/AA		3.3
A/A		11.6
Baa/BBB		14.7
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 3/31/2021
Net assets	$19.52 billion
Portfolio turnover rate	29%
Number of issues	7,930
Option-adjusted duration^‡	6.41 years
Average maturity^§	8.20 years

^‡	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 ■ 2021 Annual Report

Core Bond Fund

Expense example

Six months ended March 31, 2021

Core Bond Fund	Beginning account value (10/1/20)		Ending account value (3/31/21)		Expenses paid during period* (10/1/20– 3/31/21)
Actual return
Institutional Class	$	1,000.00	$	989.10		$1.44
Advisor Class		1,000.00		988.48		2.08
Premier Class		1,000.00		987.44		2.18
Retirement Class		1,000.00		987.36		2.68
Retail Class		1,000.00		988.03		2.87
Class W		1,000.00		990.54		0.00
5% annual hypothetical return
Institutional Class		1,000.00		1,023.49		1.46
Advisor Class		1,000.00		1,022.84		2.12
Premier Class		1,000.00		1,022.74		2.22
Retirement Class		1,000.00		1,022.24		2.72
Retail Class		1,000.00		1,022.04		2.92
Class W		1,000.00		1,024.93		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 182/365. There were 182 days in the six months ended March 31, 2021. 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 3/31/2021
Corporate bonds		29.5
Mortgage-backed securities		24.7
Foreign government & corporate bonds denominated in U.S. dollars		15.3
U.S. Treasury securities		11.6
Commercial mortgage-backed securities		6.0
Asset-backed securities		5.6
Bank loan obligations		2.4
Municipal bonds		2.0
U.S. agency securities		0.5
Preferred stock		0.1
Short-term investments, other assets & liabilities, net		2.3
Total		100.0

Performance for the twelve months ended March 31, 2021

The Core Bond Fund returned 5.84% for the Institutional Class, compared with the 0.71% return of its benchmark, the Bloomberg Barclays U.S. Aggregate Bond Index. The performance table shows returns for all share classes of the Fund.

Economic growth resumed after pandemic setback

The U.S. economy contracted sharply early in the period due to the COVID-19 outbreak and global efforts to contain the spread of the virus. But the nation’s output recovered during the summer of 2020, and economic growth continued through the rest of the year and into 2021. The unemployment rate, which had spiked to 14.7% in April 2020, declined steadily during the period and settled at 6.0% in March 2021. Core inflation, which measures all items except food and energy, rose 1.6% over the twelve months ended March 2021. Crude oil prices, hit hard in the early stages of the pandemic, rose from $20 to $59 per barrel during the period.

Treasury sector decline dampened overall performance of the benchmark

Most of the sectors within the Bloomberg Barclays U.S. Aggregate Bond Index advanced for the twelve months, with the notable exception of Treasuries—the benchmark’s largest sector at 37.4%—which returned –4.4% due to a spike in longer-term yields toward the end of the period. Corporate bonds, the second-largest sector with a weighting of 27.0%, had the strongest performance, rising 8.7%. Mortgage-backed securities, the third-largest sector in the index at 26.0%, posted the only other loss, returning –0.1%. Smaller sectors, including asset-backed securities (ABS), commercial mortgage-backed securities (CMBS) and government credit securities, delivered gains of 5.1%, 4.4% and 3.2%, respectively.

Fund substantially outperformed its benchmark

The Fund outperformed its benchmark by a large margin for the period, primarily as a result of favorable allocation decisions. Chief among these was an overweight position in the strong-performing corporate bond sector, which benefited from the economic recovery and low corporate taxes. The next-largest contributor was a significant underweight position in the U.S. Treasuries sector, which declined for the period. Favorable yield curve positioning—how the Fund was invested across different maturities—within this sector also helped considerably. In addition, the Fund benefited from overweight positions and security selection in the ABS and CMBS sectors. A small cash position was the only detractor.

12	2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

Performance as of March 31, 2021

Core Bond Fund			Total return				Average annual total return						Annual operating expenses*
	Inception date			1 year			5 years			10 years			gross			net
Institutional Class		7/1/99			5.84	%		3.81	%		4.10	%		0.30	%		0.30	%
Advisor Class		12/4/15			5.70			3.73			4.06	^†		0.43			0.43
Premier Class		9/30/09			5.58			3.63			3.94			0.45			0.45
Retirement Class		3/31/06			5.51			3.55			3.84			0.55			0.55
Retail Class		3/31/06			5.47			3.51			3.79			0.59			0.59
Class W		9/28/18			6.15			3.96	^†		4.18	^†		0.30			0.00
Bloomberg Barclays U.S. Aggregate Bond Index		—			0.71			3.10			3.44			—			—

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.

^†

$2,000,000 over 10 years

Institutional Class

Holdings by maturity

% of fixed-income investments (excluding short-term investments) as of 3/31/2021
Less than 1 year		1.6
1–3 years		15.6
3–5 years		27.9
5–10 years		41.6
Over 10 years		13.3
Total		100.0

Holdings by credit quality

% of fixed-income investments (excluding short-term investments) as of 3/31/2021
U.S. Treasury & U.S. agency securities*	36.2
Aaa/AAA	6.5
Aa/AA	5.5
A/A	13.2
Baa/BBB	26.4
Ba/BB	5.6
B/B	4.0
Below B/B	0.4
Non-rated	2.2
Total	100.0

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

Fund profile

	as of 3/31/2021
Net assets	$8.70 billion
Portfolio turnover rate	229%
Portfolio turnover rate, excluding mortgage dollar-roll transactions	117%
Number of issues	2,094
Option-adjusted duration^‡	5.73 years
Average maturity^§	7.46 years

^‡	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 ■ 2021 Annual Report

Core Impact Bond Fund

Expense example

Six months ended March 31, 2021

Core Impact Bond Fund	Beginning account value (10/1/20)		Ending account value (3/31/21)		Expenses paid during period* (10/1/20– 3/31/21)
Actual return
Institutional Class	$	1,000.00	$	984.43		$1.73
Advisor Class		1,000.00		984.03		2.13
Premier Class		1,000.00		983.50		2.67
Retirement Class		1,000.00		983.19		2.97
Retail Class		1,000.00		983.13		3.02
5% annual hypothetical return
Institutional Class		1,000.00		1,023.19		1.77
Advisor Class		1,000.00		1,022.79		2.17
Premier Class		1,000.00		1,022.24		2.72
Retirement Class		1,000.00		1,021.94		3.02
Retail Class		1,000.00		1,021.89		3.07

“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 182/365. There were 182 days in the six months ended March 31, 2021. The Fund’s annualized six-month expense ratios for that period were 0.35% for the Institutional Class, 0.43% for the Advisor Class, 0.54% 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

Sector	% of net assets as of 3/31/2021
Corporate bonds	26.9
Mortgage-backed securities	22.3
Foreign government & corporate bonds denominated in U.S. dollars	21.7
Municipal bonds	7.5
U.S. Treasury securities	6.0
U.S. agency securities	4.5
Commercial mortgage-backed securities	4.4
Asset-backed securities	3.4
Bank loan obligations	0.1
Preferred stock	1.0
Short-term investments, other assets & liabilities, net	2.2
Total	100.0

Performance for the twelve months ended March 31, 2021

The Core Impact Bond Fund returned 5.13% for the Institutional Class, compared with the 0.71% return of its benchmark, the Bloomberg Barclays U.S. Aggregate Bond Index. The performance table shows returns for all share classes of the Fund.

Economic growth resumed after pandemic setback

The U.S. economy contracted sharply early in the period due to the COVID-19 outbreak and global efforts to contain the spread of the virus. But the nation’s output recovered during the summer of 2020, and economic growth continued through the rest of the year and into 2021. The unemployment rate, which had spiked to 14.7% in April 2020, declined steadily during the period and settled at 6.0% in March 2021. Core inflation, which measures all items except food and energy, rose 1.6% over the twelve months ended March 2021. Crude oil prices, hit hard in the early stages of the pandemic, rose from $20 to $59 per barrel during the period.

Treasury sector decline dampened overall performance of the benchmark

Most of the sectors within the Bloomberg Barclays U.S. Aggregate Bond Index advanced for the twelve months, with the notable exception of Treasuries—the benchmark’s largest sector at 37.4%—which returned –4.4% due to a spike in longer-term yields toward the end of the period. Corporate bonds, the second-largest sector with a weighting of 27.0%, had the strongest performance, rising 8.7%. Mortgage-backed securities, the third-largest sector in the index at 26.0%, posted the only other loss, returning –0.1%. Smaller sectors, including asset-backed securities (ABS), commercial mortgage-backed securities (CMBS) and government credit securities, delivered gains of 5.1%, 4.4% and 3.2%, respectively.

Fund substantially outpaced its benchmark

The Fund outperformed its benchmark for the period by a wide margin as all sectors made positive contributions to relative performance. An overweight position in the strong-performing corporate bond sector, which benefited from the economic recovery and low corporate taxes, had the largest impact. The next-largest contributor was a significant underweight position in the U.S. Treasuries sector, which declined for the period. Favorable yield curve positioning—how the Fund was invested across different maturities—within this sector also helped considerably. Overweight positions in the CMBS, ABS and municipal bond sectors made solid contributions, as did an overweight position in government agency securities. Security selection within CMBS and ABS also helped.

14	2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

Performance as of March 31, 2021

Core Impact Bond Fund			Total return			Average annual total return						Annual operating expenses*
	Inception date		1 year			5 years			since inception			gross			net
Institutional Class		9/21/12		5.13	%		3.63	%		3.59	%		0.36	%		0.36	%
Advisor Class		12/4/15		4.95			3.54			3.53	^†		0.46			0.46
Premier Class		9/21/12		4.85			3.48			3.43			0.53			0.53
Retirement Class		9/21/12		4.87			3.38			3.33			0.61			0.61
Retail Class		9/21/12		4.87			3.36			3.29			0.64			0.64
Bloomberg Barclays U.S. Aggregate Bond Index		—		0.71			3.10			2.75	^‡		—			—

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. Refer to the Financial highlights later in this report for the Fund’s expense ratios as of the end of the reporting period.
^†	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.

$2,000,000 invested at Fund’s inception

Institutional Class (inception September 21, 2012)

Holdings by maturity

% of fixed-income investments (excluding short-term investments) as of 3/31/2021
Less than 1 year	2.0
1–3 years	13.3
3–5 years	28.8
5–10 years	36.1
Over 10 years	19.8
Total	100.0

Holdings by credit quality

% of fixed-income investments (excluding short-term investments) as of 3/31/2021
U.S. Treasury & U.S. agency securities*	32.8
Aaa/AAA	7.7
Aa/AA	9.6
A/A	19.3
Baa/BBB	22.0
Ba/BB	3.4
B/B	0.7
Non-rated	4.5
Total	100.0

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

Fund profile

as of 3/31/2021
Net assets	$6.27 billion
Portfolio turnover rate	293%
Portfolio turnover rate, excluding mortgage dollar-roll transactions	186%
Number of issues	1,003
Option-adjusted duration^‡	6.22 years
Average maturity^§	8.61 years

^‡	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 ■ 2021 Annual Report

Core Plus Bond Fund

Expense example

Six months ended March 31, 2021
Core Plus Bond Fund	Beginning account value (10/1/20)		Ending account value (3/31/21)		Expenses paid during period* (10/1/20– 3/31/21)
Actual return
Institutional Class	$	1,000.00	$	998.75		$1.49
Advisor Class		1,000.00		998.38		1.84
Premier Class		1,000.00		998.00		2.24
Retirement Class		1,000.00		998.43		2.74
Retail Class		1,000.00		997.21		3.04
Class W		1,000.00		1,000.22		0.00
5% annual hypothetical return
Institutional Class		1,000.00		1,023.44		1.51
Advisor Class		1,000.00		1,023.09		1.87
Premier Class		1,000.00		1,022.69		2.27
Retirement Class		1,000.00		1,022.19		2.77
Retail Class		1,000.00		1,021.89		3.07
Class W		1,000.00		1,024.93		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 182/365. There were 182 days in the six months ended March 31, 2021. The Fund’s annualized six-month expense ratios for that period were 0.30% for the Institutional Class, 0.37% for the Advisor Class, 0.45% for the Premier Class, 0.55% for the Retirement Class, 0.61% 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 3/31/2021
Corporate bonds		29.3
Mortgage-backed securities		24.6
Foreign government & corporate bonds denominated in U.S. dollars		17.5
Asset-backed securities		6.9
U.S. Treasury securities		6.6
Commercial mortgage-backed securities		5.7
Bank loan obligations		3.2
Municipal bonds		2.5
Preferred stock		0.3
Short-term investments, other assets & liabilities, net		3.4
Total		100.0

Performance for the twelve months ended March 31, 2021

The Core Plus Bond Fund returned 7.83% for the Institutional Class, compared with the 0.71% return of its benchmark, the Bloomberg Barclays U.S. Aggregate Bond Index. The performance table shows returns for all share classes of the Fund.

Economic growth resumed after pandemic setback

The U.S. economy contracted sharply early in the period due to the COVID-19 outbreak and global efforts to contain the spread of the virus. But the nation’s output recovered during the summer of 2020, and economic growth continued through the rest of the year and into 2021. The unemployment rate, which had spiked to 14.7% in April 2020, declined steadily during the period and settled at 6.0% in March 2021. Core inflation, which measures all items except food and energy, rose 1.6% over the twelve months ended March 2021. Crude oil prices, hit hard in the early stages of the pandemic, rose from $20 to $59 per barrel during the period.

Treasury sector decline dampened overall performance of the benchmark

Most of the sectors within the Bloomberg Barclays U.S. Aggregate Bond Index advanced for the twelve months, with the notable exception of Treasuries—the benchmark’s largest sector at 37.4%—which returned –4.4% due to a spike in longer-term yields toward the end of the period. Corporate bonds, the second-largest sector with a weighting of 27.0%, had the strongest performance, rising 8.7%. Mortgage-backed securities, the third-largest sector in the index at 26.0%, posted the only other loss, returning –0.1%. Smaller sectors, including asset-backed securities (ABS), commercial mortgage-backed securities (CMBS) and government credit securities, delivered gains of 5.1%, 4.4% and 3.2%, respectively.

Fund substantially outperformed its benchmark

The Fund outperformed its benchmark for the period by a wide margin, primarily as a result of favorable allocation decisions. Chief among these was an overweight position in the strong-performing corporate bond sector, which benefited from the economic recovery and low corporate taxes. The next-largest contributor was a significant underweight position in the U.S. Treasuries sector, which declined for the period. Favorable yield curve positioning—how the Fund was invested across different maturities—within this sector also helped considerably. In addition, the Fund benefited from overweight positions and security selection in the ABS and CMBS sectors. A small cash position was the only detractor.

16	2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

Performance as of March 31, 2021
Core Plus Bond Fund						Average annual						Annual operating
			Total return			total return						expenses*
	Inception date		1 year			5 years			10 years			gross			net
Institutional Class		3/31/06		7.83	%		4.14	%		4.35	%		0.30	%		0.30	%
Advisor Class		12/4/15		7.74			4.07			4.33	^†		0.38			0.38
Premier Class		9/30/09		7.67			3.98			4.20			0.45			0.45
Retirement Class		3/31/06		7.55			3.88			4.10			0.55			0.55
Retail Class		3/31/06		7.48			3.81			4.02			0.61			0.61
Class W		9/28/18		8.14			4.29	^†		4.43	^†		0.30			0.00
Bloomberg Barclays U.S. Aggregate Bond Index		—		0.71			3.10			3.44			—			—

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. Refer to the Financial highlights later in this report for the Fund’s expense ratios as of the end of the reporting period.
^†	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.

$2,000,000 over 10 years

Institutional Class

Holdings by maturity
% of fixed-income investments (excluding short-term investments) as of 3/31/2021
Less than 1 year			2.5
1–3 years			12.4
3–5 years			26.5
5–10 years			45.7
Over 10 years			12.9
Total			100.0

Holdings by credit quality
% of fixed-income investments (excluding short-term investments) as of 3/31/2021
U.S. Treasury & U.S. agency securities*			30.4
Aaa/AAA			3.0
Aa/AA			4.8
A/A			12.5
Baa/BBB			25.9
Ba/BB			11.8
B/B			7.4
Below B/B			0.7
Non-rated			3.5
Total			100.0

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

Fund profile
as of 3/31/2021
Net assets	$5.57 billion
Portfolio turnover rate	169%
Portfolio turnover rate, excluding mortgage dollar-roll transactions	84%
Number of issues	1,943
Option-adjusted duration^‡	5.57 years
Average maturity^§	7.36 years

^‡	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 ■ 2021 Annual Report

5–15 Year Laddered Tax-Exempt Bond Fund

Expense example

Six months ended March 31, 2021
5–15 Year Laddered Tax-Exempt Bond Fund	Beginning account value (10/1/20)		Ending account value (3/31/21)		Expenses paid during period* (10/1/20– 3/31/21)
Actual return
Institutional Class	$	1,000.00	$	1,019.87		$1.51
Advisor Class		1,000.00		1,019.49		1.91
Retail Class		1,000.00		1,018.47		2.92
5% annual hypothetical return
Institutional Class		1,000.00		1,023.44		1.51
Advisor Class		1,000.00		1,023.04		1.92
Retail Class		1,000.00		1,022.04		2.92

“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 182/365. There were 182 days in the six months ended March 31, 2021. 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 3/31/2021
Municipal bonds		97.3
Short-term investments, other assets & liabilities, net		2.7
Total		100.0

Performance for the twelve months ended March 31, 2021

The 5–15 Year Laddered Tax-Exempt Bond Fund returned 6.48% for the Institutional Class, compared with the 5.44% return of its benchmark, the Bloomberg Barclays 10-Year Municipal Bond Index. The performance table shows returns for all the share classes of the Fund.

Economic growth resumed after pandemic setback

The U.S. economy contracted sharply early in the period due to the COVID-19 outbreak and global efforts to contain the spread of the virus. But the nation’s output recovered during the summer of 2020, and economic growth continued through the rest of the year and into 2021. The unemployment rate, which had spiked to 14.7% in April 2020, declined steadily during the period and settled at 6.0% in March 2021. Core inflation, which measures all items except food and energy, rose 1.6% over the twelve months ended March 2021. Crude oil prices, hit hard in the early stages of the pandemic, rose from $20 to $59 per barrel during the period.

All benchmark sectors gained ground

All of the sectors in the Bloomberg Barclays 10-Year Municipal Bond Index advanced for the twelve-month period. The leasing sector was the top performer with a gain of 8.0%. The industrial revenue sector recorded the second-best result with a gain of 7.4%, followed by the transportation sector, which advanced 6.7%. State general obligations (GOs), the index’s largest sector by market capitalization at period-end, returned 5.0%. Local GOs, the benchmark’s second-largest sector, gained 4.8% for the period.

As of March 31, 2021, higher-rated 10-year AAA municipal bonds yielded 1.08%, compared with a 1.74% yield on the 10-year U.S. Treasury bond. New municipal issuance during the twelve-month period was $491.2 billion, up from $442.1 billion for the prior twelve months, from April 1, 2020, through March 31, 2021.

Fund outperformed its benchmark

The Fund surpassed its benchmark for the twelve-month period, primarily due to an overweight position and favorable security selection in the transportation sector. The Fund’s holdings in local GOs and the leasing and education sectors were the next-largest contributors to its relative performance.

By contrast, the Fund’s holdings of state GOs detracted most, primarily due to unfavorable yield curve positioning—how the Fund was invested across different maturities—in this sector. The Fund’s positions in the water and sewer and industrial revenue sectors also detracted.

18	2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

Performance as of March 31, 2021
5–15 Year Laddered Tax-Exempt Bond Fund			Total return			Average annual total return						Annual operating expenses*
	Inception date		1 year			5 years			10 years			gross			net
Institutional Class		3/31/06		6.48	%		3.20	%		3.92	%		0.33	%		0.30	%
Advisor Class		12/4/15		6.30			3.14			3.89	^†		0.43			0.40
Retail Class		3/31/06		6.18			2.92			3.64			0.61			0.58
Bloomberg Barclays 10-Year Municipal Bond Index		—		5.44			3.54			4.66			—			—

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 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.

$2,000,000 over 10 years

Institutional Class

Holdings by maturity
% of fixed-income investments (excluding short-term investments) as of 3/31/2021
Less than 1 year	1.3
1–3 years	1.3
3–5 years	14.3
5–10 years	41.3
Over 10 years	41.8
Total	100.0

Holdings by credit quality
% of fixed-income investments (excluding short-term investments) as of 3/31/2021
Aaa/AAA	0.9
Aa/AA	20.6
A/A	52.5
Baa/BBB	19.2
Ba/BB	3.5
B/B	0.4
Non-rated	2.9
Total	100.0

Fund profile
as of 3/31/2021
Net assets	$280.78 million
Portfolio turnover rate	23%
Number of issues	240
Option-adjusted duration^‡	6.01 years
Average maturity^§	9.50 years

^‡	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 ■ 2021 Annual Report

Green Bond Fund

Expense example

Six months ended March 31, 2021
Green Bond Fund	Beginning account value (10/1/20)		Ending account value (3/31/21)		Expenses paid during period* (10/1/20– 3/31/21)
Actual return
Institutional Class	$	1,000.00	$	991.64	$	2.23
Advisor Class		1,000.00		991.57		2.28
Premier Class		1,000.00		991.18		2.68
Retirement Class		1,000.00		992.13		2.68
Retail Class		1,000.00		991.20		3.62
5% annual hypothetical return
Institutional Class		1,000.00		1,022.69		2.27
Advisor Class		1,000.00		1,022.64		2.32
Premier Class		1,000.00		1,022.24		2.72
Retirement Class		1,000.00		1,022.24		2.72
Retail Class		1,000.00		1,021.29		3.68

“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 182/365. There were 182 days in the six months ended March 31, 2021. The Fund’s annualized six-month expense ratios for that period were 0.45% for the Institutional Class, 0.46% for the Advisor Class, 0.54% for the Premier Class, 0.54% 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
	% of net assets
Sector	as of 3/31/2021
Corporate bonds		30.8
Foreign government & corporate bonds denominated in U.S. dollars		30.7
Asset-backed securities		11.1
Municipal bonds		10.6
Commercial mortgage-backed securities		7.5
U.S. agency securities		2.9
Bank loan obligations		1.0
Preferred stock		2.8
Short-term investments, other assets & liabilities, net		2.6
Total		100.0

Performance for the twelve months ended March 31, 2021

The Green Bond Fund returned 8.27% for the Institutional Class, compared with the 3.76% return of its benchmark, the Bloomberg Barclays MSCI U.S. Green Bond Index. The performance table shows returns for all share classes of the Fund.

Economic growth resumed after pandemic setback

The U.S. economy contracted sharply early in the period due to the COVID-19 outbreak and global efforts to contain the spread of the virus. But the nation’s output recovered during the summer of 2020, and economic growth continued through the rest of the year and into 2021. The unemployment rate, which had spiked to 14.7% in April 2020, declined steadily during the period and settled at 6.0% in March 2021. Core inflation, which measures all items except food and energy, rose 1.6% over the twelve months ended March 2021. Crude oil prices, hit hard in the early stages of the pandemic, rose from $20 to $59 per barrel during the period.

Corporate bond sector drove the benchmark’s performance

All of the sectors within the Bloomberg Barclays MSCI U.S. Green Bond Index advanced for the twelve months. Corporate bonds, the largest sector in the index with a weighting of 54.2% at period-end, had the highest return at 6.5%. Despite struggling earlier in the period in the wake of the COVID-19 pandemic, corporate bonds rebounded, helped by support from the Fed. Government credit securities, the index’s second-largest sector with a weighting of 27.2%, gained a more modest 0.6%. Government agency bonds, the benchmark’s third-largest sector at 17.1%, advanced 1.6%. Commercial mortgage-backed securities (CMBS), which represented just 0.5% of the index, returned 1.9%.

Fund substantially outperformed its benchmark

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

By contrast, a small allocation to cash modestly detracted from the Fund’s relative performance for the period.

20	2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

Performance as of March 31, 2021
Green Bond Fund					Average annual			Annual operating
		Total return			total return			expenses*
	Inception date	1 year			since inception			gross			net
Institutional Class	11/16/18		8.27	%		6.74	%		1.21	%		0.45	%
Advisor Class	11/16/18		8.25			6.70			1.31			0.55
Premier Class	11/16/18		8.16			6.60			1.37			0.60
Retirement Class	11/16/18		8.26			6.63			1.47			0.70
Retail Class	11/16/18		8.07			6.50			1.59			0.80
Bloomberg Barclays MSCI U.S. Green Bond Index	—		3.76			6.82	^‡		—			—

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.

^‡

Performance is calculated from the inception date of the Institutional Class.

$2,000,000 invested at Fund’s inception

Institutional Class (inception November 16, 2018)

Holdings by maturity
% of fixed-income investments
(excluding short-term investments)
as of 3/31/2021
Less than 1 year	3.8
1–3 years	16.6
3–5 years	18.1
5–10 years	41.6
Over 10 years	19.9
Total	100.0

Holdings by credit quality
% of fixed-income investments
(excluding short-term investments)
as of 3/31/2021
U.S. Treasury & U.S. agency securities*	3.0
Aaa/AAA	18.5
Aa/AA	12.4
A/A	22.0
Baa/BBB	19.1
Ba/BB	9.3
B/B	1.1
Non-rated	14.6
Total	100.0

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

Fund profile
as of 3/31/2021
Net assets	$50.80 million
Portfolio turnover rate	34%
Number of issues	152
Option-adjusted duration^‡	6.01 years
Average maturity^§	8.61 years

^‡	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 ■ 2021 Annual Report

High-Yield Fund

Expense example

Six months ended March 31, 2021

High-Yield Fund	Beginning account value (10/1/20)	Ending account value (3/31/21)	Expenses paid during period* (10/1/20– 3/31/21)
Actual return
Institutional Class	$1,000.00	$1,060.33	$1.75
Advisor Class	1,000.00	1,059.84	2.26
Premier Class	1,000.00	1,059.51	2.52
Retirement Class	1,000.00	1,059.01	3.03
Retail Class	1,000.00	1,058.67	3.23
Class W	1,000.00	1,062.13	0.00
5% annual hypothetical return
Institutional Class	1,000.00	1,023.24	1.72
Advisor Class	1,000.00	1,022.74	2.22
Premier Class	1,000.00	1,022.49	2.47
Retirement Class	1,000.00	1,021.99	2.97
Retail Class	1,000.00	1,021.79	3.18
Class W	1,000.00	1,024.93	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 182/365. There were 182 days in the six months ended March 31, 2021. The Fund’s annualized six-month expense ratios for that period were 0.34% for the Institutional Class, 0.44% 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 3/31/2021
Corporate bonds	77.2
Bank loan obligations	10.0
Foreign government & corporate bonds denominated in U.S. dollars	7.6
Short-term investments, other assets & liabilities, net	5.2
Total	100.0

Performance for the twelve months ended March 31, 2021

The High-Yield Fund returned 19.94% for the Institutional Class, compared with the 20.97% return of its benchmark, the ICE BofA BB-B U.S. Cash Pay High Yield Constrained Index. The performance table shows returns for all share classes of the Fund.

Economic growth resumed after pandemic setback

The U.S. economy contracted sharply early in the period due to the COVID-19 outbreak and global efforts to contain the spread of the virus. But the nation’s output recovered during the summer of 2020, and economic growth continued through the rest of the year and into 2021. The unemployment rate, which had spiked to 14.7% in April 2020, declined steadily during the period and settled at 6.0% in March 2021. Core inflation, which measures all items except food and energy, rose 1.6% over the twelve months ended March 2021. Crude oil prices, hit hard in the early stages of the pandemic, rose from $20 to $59 per barrel during the period. The movement of oil prices can be influential due to the large representation of energy companies in the high-yield sector.

For the twelve-month period, high-yield bonds surpassed the 0.71% return of the broad U.S. investment-grade fixed-rate bond market, as measured by the Bloomberg Barclays U.S. Aggregate Bond Index, by a wide margin.

Most sectors posted gains

For the twelve months, most high-yield bond sectors posted strong gains. Energy exploration & production, the benchmark’s largest sector on March 31, 2021, was the best performer, advancing 77.1%. The worst performer was electric distribution/transmission, returning –4.1%.

High-yield bonds posted positive results across all credit quality tiers for the twelve months as investors gravitated toward riskier asset classes. Lower-quality bonds (those rated “CCC” and below) performed best at 39.9%. Bonds rated “B” and “BB” returned 22.2% and 20.3%, respectively. New high-yield debt issuance totaled more than $506 billion for the twelve months, up substantially from the $275 billion for the same period in 2020, as volumes remained sizable throughout the year. The U.S. issuer-weighted speculative grade default rate rose to 7.5% on March 31, 2021, from 4.9% (revised from 4.7%) a year earlier, according to Moody’s Investors Service.

Fund posted a double-digit gain but trailed its benchmark

For the twelve-month period, the Fund advanced but trailed its benchmark. An out-of-benchmark allocation to entertainment firm Cirque du Soleil was the largest detractor, followed by overweight positions in media company CCO Holdings and energy company Transocean Guardian.

On the positive side, the Fund was helped by overweight positions in energy companies USA Compression Partners and Range Resources, which benefited from higher oil prices, as well as an out-of-benchmark position in SM Energy.

22	2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

Performance as of March 31, 2021

High-Yield Fund		Total return			Average annual total return					Annual operating expenses*
	Inception date		1 year			5 years		10 years			gross		net
Institutional Class	3/31/06		19.94	%		6.85	%	5.79	%		0.36	%	0.36	%
Advisor Class	12/4/15		19.84			6.72		5.72	^†		0.47		0.47
Premier Class	9/30/09		19.74			6.69		5.64			0.51		0.51
Retirement Class	3/31/06		19.64			6.56		5.53			0.61		0.61
Retail Class	3/31/06		19.67			6.55		5.50			0.64		0.64
Class W	9/28/18		20.34			7.03	^†	5.88	^†		0.36		0.00
ICE BofA BB-B U.S. Cash Pay High Yield Constrained Index	—		20.97			7.42		6.28			—		—

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.

^†

$2,000,000 over 10 years

Institutional Class

Holdings by maturity

% of fixed-income investments (excluding short-term investments) as of 3/31/2021
1–3 years	3.9
3–5 years	31.0
5–10 years	62.2
Over 10 years	2.9
Total	100.0

Holdings by credit quality

% of fixed-income investments (excluding short-term investments) as of 3/31/2021
Baa/BBB	0.9
Ba/BB	46.2
B/B	45.6
Below B/B	4.6
Non-rated	2.7
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 3/31/2021
Net assets	$3.78 billion
Portfolio turnover rate	79%
Number of issues	475
Option-adjusted duration^‡	3.80 years
Average maturity^§	6.01 years

^‡	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 ■ 2021 Annual Report

Inflation-Linked Bond Fund

Expense example

Six months ended March 31, 2021

Inflation-Linked Bond Fund	Beginning account value (10/1/20)	Ending account value (3/31/21)	Expenses paid during period* (10/1/20– 3/31/21)
Actual return
Institutional Class	$1,000.00	$1,014.20	$1.15
Advisor Class	1,000.00	1,013.75	1.56
Premier Class	1,000.00	1,013.43	1.91
Retirement Class	1,000.00	1,012.81	2.41
Retail Class	1,000.00	1,012.17	2.71
Class W	1,000.00	1,015.33	0.00
5% annual hypothetical return
Institutional Class	1,000.00	1,023.78	1.16
Advisor Class	1,000.00	1,023.39	1.56
Premier Class	1,000.00	1,023.04	1.92
Retirement Class	1,000.00	1,022.54	2.42
Retail Class	1,000.00	1,022.24	2.72
Class W	1,000.00	1,024.93	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 182/365. There were 182 days in the six months ended March 31, 2021. The Fund’s annualized six-month expense ratios for that period were 0.23% for the Institutional Class, 0.31% for the Advisor Class, 0.38% for the Premier Class, 0.48% for the Retirement Class, 0.54% 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 3/31/2021
U.S. Treasury securities	96.0
Mortgage-backed securities	2.9
U.S. agency securities	0.4
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 twelve months ended March 31, 2021

The Inflation-Linked Bond Fund returned 7.53% for the Institutional Class, compared with the 8.12% return of its benchmark, the Bloomberg Barclays U.S. Treasury Inflation Protected Securities (TIPS) 1–10 Year Index. The performance table shows returns for all share classes of the Fund.

Economic growth resumed after pandemic setback

The U.S. economy contracted sharply early in the period due to the COVID-19 outbreak and global efforts to contain the spread of the virus. But the nation’s output recovered during the summer of 2020, and economic growth continued through the rest of the year and into 2021. The unemployment rate, which had spiked to 14.7% in April 2020, declined steadily during the period and settled at 6.0% in March 2021. Core inflation, which measures all items except food and energy, rose 1.6% over the twelve months ended March 2021. Crude oil prices, hit hard in the early stages of the pandemic, rose from $20 to $59 per barrel during the period.

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. TIPS benefited from the strengthening economy and the immense fiscal and monetary stimuli.

Fund posted a solid advance but trailed its benchmark

While the Fund produced impressive gains for the twelve-month period, its return trailed that of its benchmark, primarily due to the effect of expenses. The Fund’s substantial position in the U.S. Treasuries sector, which accounted for nearly 96.0% of its overall holdings as of March 31, 2021, detracted from its relative performance versus the benchmark. Treasuries significantly underperformed due to a yield spike in the latter months of the period. 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	2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

Performance as of March 31, 2021

Inflation-Linked Bond Fund		Total return			Average annual total return					Annual operating expenses*
	Inception
	date		1 year			5 years		10 years			gross		net
Institutional Class	10/1/02		7.53	%		3.15	%	2.88	%		0.26	%	0.26	%
Advisor Class	12/4/15		7.43			3.07		2.84	^†		0.34		0.34
Premier Class	9/30/09		7.38			2.99		2.73			0.41		0.41
Retirement Class	3/31/06		7.29			2.88		2.63			0.51		0.51
Retail Class	10/1/02		7.12			2.81		2.56			0.57		0.57
Class W	9/28/18		7.77			3.27	^†	2.94	^†		0.26		0.00
Bloomberg Barclays U.S. Treasury Inflation Protected Securities (TIPS) 1–10 Year Index	—		8.12			3.41		2.64			—		—

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.

^†

$2,000,000 over 10 years

Institutional Class

Holdings by maturity

% of fixed-income investments (excluding short-term investments) as of 3/31/2021
1–3 years	23.6
3–5 years	34.7
5–10 years	38.8
Over 10 years	2.9
Total	100.0

Holdings by credit quality

% of fixed-income investments (excluding short-term investments) as of 3/31/2021
U.S. Treasury & U.S. agency securities*	99.7
Non-rated	0.3
Total	100.0


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

Fund profile

	as of 3/31/2021
Net assets	$3.42 billion
Portfolio turnover rate	27%
Number of issues	50
Option-adjusted duration^‡	4.81 years
Average maturity^§	4.92 years

^‡	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 ■ 2021 Annual Report

Short Duration Impact Bond Fund

Expense example

Six months ended March 31, 2021

Short Duration Impact Bond Fund	Beginning account value (10/1/20)	Ending account value (3/31/21)	Expenses paid during period* (10/1/20– 3/31/21)
Actual return
Institutional Class	$1,000.00	$1,010.21	$1.75
Advisor Class	1,000.00	1,010.20	1.75
Premier Class	1,000.00	1,009.46	2.50
Retirement Class	1,000.00	1,008.96	3.01
Retail Class	1,000.00	1,009.04	2.96
5% annual hypothetical return
Institutional Class	1,000.00	1,023.19	1.77
Advisor Class	1,000.00	1,023.19	1.77
Premier Class	1,000.00	1,022.44	2.52
Retirement Class	1,000.00	1,021.94	3.02
Retail Class	1,000.00	1,021.99	2.97

“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 182/365. There were 182 days in the six months ended March 31, 2021. 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 0.59% 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 3/31/2021
Corporate bonds	27.4
Foreign government & corporate bonds denominated in U.S. dollars	23.2
U.S. Treasury securities	13.1
Asset-backed securities	11.2
Municipal bonds	8.1
U.S. agency securities	5.2
Commercial mortgage-backed securities	3.2
Mortgage-backed securities	2.7
Bank loan obligations	1.5
Short-term investments, other assets & liabilities, net	4.4
Total	100.0

Performance for the twelve months ended March 31, 2021

The Short Duration Impact Bond Fund returned 6.92% for the Institutional Class, compared with the 1.57% return of its benchmark, the Bloomberg Barclays U.S. 1–3 Year Government/Credit Bond Index. The performance table shows returns for all share classes of the Fund.

Economic growth resumed after pandemic setback

The U.S. economy contracted sharply early in the period due to the COVID-19 outbreak and global efforts to contain the spread of the virus. But the nation’s output recovered during the summer of 2020, and economic growth continued through the rest of the year and into 2021. The unemployment rate, which had spiked to 14.7% in April 2020, declined steadily during the period and settled at 6.0% in March 2021. Core inflation, which measures all items except food and energy, rose 1.6% over the twelve months ended March 2021. Crude oil prices, hit hard in the early stages of the pandemic, rose from $20 to $59 per barrel during the period.

Corporate bonds drove the benchmark’s performance

All of the sectors in the benchmark posted positive returns for the twelve-month period. Corporate bonds—the second-largest sector with a weighting of 23.3%—was the index’s best-performing component with a return of 5.4%. Government credit securities and government agency bonds both trailed the benchmark’s return with gains of 1.2% and 1.0%, respectively. Short-term Treasuries, by far the benchmark’s largest sector with a weighting of 65.6%, 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—within this sector caused it to detract from the Fund’s relative return.

26	2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

Performance as of March 31, 2021

Short Duration Impact Bond Fund		Total return			Average annual total return			Annual operating expenses*
	Inception date	1 year			since inception			gross			net
Institutional Class	11/16/18		6.92	%		4.19	%		1.18	%		0.35	%
Advisor Class	11/16/18		6.92			4.17			1.28			0.45
Premier Class	11/16/18		6.76			4.04			1.34			0.50
Retirement Class	11/16/18		6.66			3.94			1.43			0.60
Retail Class	11/16/18		6.67			3.89			1.61			0.70
Bloomberg Barclays U.S. 1–3 Year Government/ Credit Bond Index	—		1.57			3.45	^‡		—			—

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.

^‡

Performance is calculated from the inception date of the Institutional Class.

$2,000,000 invested at Fund’s inception

Institutional Class (inception November 16, 2018)

Holdings by maturity

% of fixed-income investments (excluding short-term investments) as of 3/31/2021
Less than 1 year	10.5
1–3 years	54.9
3–5 years	25.2
5–10 years	8.3
Over 10 years	1.1
Total	100.0

Holdings by credit quality

% of fixed-income investments (excluding short-term investments) as of 3/31/2021
U.S. Treasury & U.S. agency securities*	21.5
Aaa/AAA	9.0
Aa/AA	13.9
A/A	17.3
Baa/BBB	17.5
Ba/BB	4.5
B/B	0.5
Non-rated	15.8
Total	100.0

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

Fund profile

as of 3/31/2021
Net assets	$33.00 million
Portfolio turnover rate	136%
Number of issues	109
Option-adjusted duration^‡	2.05 years
Average maturity^§	2.86 years

^‡	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 ■ 2021 Annual Report

Short-Term Bond Fund

Expense example

Six months ended March 31, 2021

Short-Term Bond Fund	Beginning account value (10/1/20)	Ending account value (3/31/21)	Expenses paid during period* (10/1/20– 3/31/21)
Actual return
Institutional Class	$1,000.00	$1,006.11	$1.30
Advisor Class	1,000.00	1,005.68	1.75
Premier Class	1,000.00	1,005.35	2.05
Retirement Class	1,000.00	1,004.86	2.55
Retail Class	1,000.00	1,003.65	2.80
Class W	1,000.00	1,006.45	0.00
5% annual hypothetical return
Institutional Class	1,000.00	1,023.64	1.31
Advisor Class	1,000.00	1,023.19	1.77
Premier Class	1,000.00	1,022.89	2.07
Retirement Class	1,000.00	1,022.39	2.57
Retail Class	1,000.00	1,022.14	2.82
Class W	1,000.00	1,024.93	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 182/365. There were 182 days in the six months ended March 31, 2021. The Fund’s annualized six-month expense ratios for that period were 0.26% for the Institutional Class, 0.35% for the Advisor Class, 0.41% for the Premier Class, 0.51% for the Retirement Class, 0.56% 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 3/31/2021
Foreign government & corporate bonds denominated in U.S. dollars		24.7
Corporate bonds		21.8
U.S. Treasury securities		16.1
Asset-backed securities		11.4
Mortgage-backed securities		7.7
Commercial mortgage-backed securities		5.7
U.S. agency securities		3.6
Municipal bonds		2.0
Bank loan obligations		1.7
Short-term investments, other assets & liabilities, net		5.3
Total		100.0

Performance for the twelve months ended March 31, 2021

The Short-Term Bond Fund returned 4.23% for the Institutional Class, compared with the 1.57% return of its benchmark, the Bloomberg Barclays U.S. 1–3 Year Government/Credit Bond Index. The performance table shows returns for all share classes of the Fund.

Economic growth resumed after pandemic setback

The U.S. economy contracted sharply early in the period due to the COVID-19 outbreak and global efforts to contain the spread of the virus. But the nation’s output recovered during the summer of 2020, and economic growth continued through the rest of the year and into 2021. The unemployment rate, which had spiked to 14.7% in April 2020, declined steadily during the period and settled at 6.0% in March 2021. Core inflation, which measures all items except food and energy, rose 1.6% over the twelve months ended March 2021. Crude oil prices, hit hard in the early stages of the pandemic, rose from $20 to $59 per barrel during the period.

Corporate bonds drove the benchmark’s performance

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 commercial mortgage-backed securities made the largest contribution to its relative return. Fund positions in the asset-backed securities and 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 helpful, 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	2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

Performance as of March 31, 2021

Short-Term Bond Fund			Total return			Average annual total return						Annual operating expenses*
	Inception date		1 year			5 years			10 years			gross			net
Institutional Class		3/31/06		4.23	%		2.43	%		2.14	%		0.27	%		0.27	%
Advisor Class		12/4/15		4.15			2.37			2.09	^†		0.35			0.35
Premier Class		9/30/09		4.07			2.27			1.98			0.42			0.42
Retirement Class		3/31/06		3.97			2.17			1.88			0.52			0.52
Retail Class		3/31/06		3.82			2.11			1.82			0.57			0.57
Class W		9/28/18		4.41			2.54	^†		2.19	^†		0.27			0.00
Bloomberg Barclays U.S. 1–3 Year Government/ Credit Bond Index		—		1.57			2.00			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.

^†

$2,000,000 over 10 years

Institutional Class

Holdings by maturity
	% of fixed-income investments (excluding short-term investments) as of 3/31/2021
Less than 1 year	15.6
1–3 years	56.7
3–5 years	21.8
5–10 years	5.0
Over 10 years	0.9
Total	100.0

Holdings by credit quality

	% of fixed-income investments (excluding short-term investments) as of 3/31/2021
U.S. Treasury & U.S. agency securities*		24.4
Aaa/AAA		12.9
Aa/AA		14.1
A/A		18.7
Baa/BBB		22.2
Ba/BB		4.7
B/B		0.8
Below B/B		0.1
Non-rated		2.1
Total		100.0

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

Fund profile

	as of 3/31/2021
Net assets		$2.16 billion
Portfolio turnover rate		167%
Portfolio turnover rate, excluding mortgage dollar-roll transactions		161%
Number of issues		492
Option-adjusted duration^‡		2.03 years
Average maturity^§		2.33 years

^‡	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 ■ 2021 Annual Report

Short-Term Bond Index Fund

Expense example

Six months ended March 31, 2021

Short-Term Bond Index Fund	Beginning account value (10/1/20)	Ending account value (3/31/21)	Expenses paid during period* (10/1/20– 3/31/21)
Actual return
Institutional Class	$1,000.00	$1,001.46	$0.55
Advisor Class	1,000.00	1,000.84	1.20
Premier Class	1,000.00	999.71	1.30
Retirement Class	1,000.00	1,000.22	1.80
Retail Class	1,000.00	999.83	2.19
Class W	1,000.00	1,002.01	0.00
5% annual hypothetical return
Institutional Class	1,000.00	1,024.38	0.56
Advisor Class	1,000.00	1,023.73	1.21
Premier Class	1,000.00	1,023.64	1.31
Retirement Class	1,000.00	1,023.14	1.82
Retail Class	1,000.00	1,022.74	2.22
Class W	1,000.00	1,024.93	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 182/365. There were 182 days in the six months ended March 31, 2021. The Fund’s annualized six-month expense ratios for that period were 0.11% for the Institutional Class, 0.24% for the Advisor Class, 0.26% for the Premier Class, 0.36% 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
Sector	% of net assets as of 3/31/2021
U.S. Treasury securities		66.0
Corporate bonds		18.3
Foreign government & corporate bonds denominated in U.S. dollars		12.1
U.S. agency securities		3.1
Short-term investments, other assets & liabilities, net		0.5
Total		100.0

Performance for the twelve months ended March 31, 2021

The Short-Term Bond Index Fund returned 1.45% for the Institutional Class, compared with the 1.57% return of its benchmark, the Bloomberg Barclays U.S. 1–3 Year Government/Credit Bond Index. The performance table shows returns for all share classes of the Fund.

Economic growth resumed after pandemic setback

The U.S. economy contracted sharply early in the period due to the COVID-19 outbreak and global efforts to contain the spread of the virus. But the nation’s output recovered during the summer of 2020, and economic growth continued through the rest of the year and into 2021. The unemployment rate, which had spiked to 14.7% in April 2020, declined steadily during the period and settled at 6.0% in March 2021. Core inflation, which measures all items except food and energy, rose 1.6% over the twelve months ended March 2021. Crude oil prices, hit hard in the early stages of the pandemic, rose from $20 to $59 per barrel during the period.

Corporate bonds drove the benchmark’s performance

Fund advanced but trailed its benchmark

For the twelve 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.

30	2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

Performance as of March 31, 2021

Short-Term Bond Index Fund			Total return			Average annual total return						Annual operating expenses*
	Inception date		1 year			5 years			since inception			gross			net
Institutional Class		8/7/15		1.45	%		1.85	%		1.79	%		0.13	%		0.12	%
Advisor Class		12/4/15		1.32			1.74			1.68	^†		0.27			0.26
Premier Class		8/7/15		1.30			1.68			1.62			0.28			0.27
Retirement Class		8/7/15		1.20			1.60			1.54			0.38			0.37
Retail Class		8/7/15		1.12			1.51			1.45			0.50			0.47
Class W		9/28/18		1.56			1.91	^†		1.84	^†		0.13			0.00
Bloomberg Barclays U.S. 1–3 Year Government/ Credit Bond Index		—		1.57			2.00			1.94	^‡		—			—

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. Refer to the Financial highlights later in this report for the Fund’s expense ratios as of the end of the reporting period.
^†	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.

$10,000,000 invested at Fund’s inception

Institutional Class (inception August 7, 2015)

Holdings by maturity

	% of fixed-income investments (excluding short-term investments) as of 3/31/2021
Less than 1 year		3.3
1–3 years		95.5
3–5 years		1.2
Total		100.0

Holdings by credit quality

	% of fixed-income investments (excluding short-term investments) as of 3/31/2021
U.S. Treasury & U.S. agency securities*		68.4
Aaa/AAA		4.5
Aa/AA		4.0
A/A		12.0
Baa/BBB		11.0
Non-rated		0.1
Total		100.0

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

Fund profile

	as of 3/31/2021
Net assets		$1.07 billion
Portfolio turnover rate		48%
Number of issues		714
Option-adjusted duration^‡		1.94 years
Average maturity^§		1.98 years

^‡	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 ■ 2021 Annual Report

Money Market Fund

Expense example

Six months ended March 31, 2021

Money Market Fund	Beginning account value (10/1/20)	Ending account value (3/31/21)	Expenses paid during period* (10/1/20– 3/31/21)
Actual return
Institutional Class	$1,000.00	$1,000.10	$0.55
Advisor Class	1,000.00	1,000.03	0.65
Premier Class	1,000.00	1,000.00	1.80
Retirement Class	1,000.00	1,000.01	1.55
Retail Class	1,000.00	1,000.00	2.94
5% annual hypothetical return
Institutional Class	1,000.00	1,024.38	0.56
Advisor Class	1,000.00	1,024.28	0.66
Premier Class	1,000.00	1,023.14	1.82
Retirement Class	1,000.00	1,023.39	1.56
Retail Class	1,000.00	1,021.99	2.97

“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 182/365. There were 182 days in the six months ended March 31, 2021. The Fund’s annualized six-month expense ratios for that period were 0.11% for the Institutional Class, 0.13% for the Advisor Class, 0.36% for the Premier Class, 0.31% for the Retirement Class and 0.59% 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 3/31/2021
U.S. Treasury securities*		43.1
U.S. government agency securities*		32.2
Floating-rate securities, government*		24.8
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 twelve months ended March 31, 2021

The Money Market Fund returned 0.10% for the Institutional Class, compared with the 0.03% 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. The performance table shows returns for all share classes of the Fund.

Economic growth resumed after pandemic setback

The U.S. economy contracted sharply early in the period due to the COVID-19 outbreak and global efforts to contain the spread of the virus. But the nation’s output recovered during the summer of 2020, and economic growth continued through the rest of the year and into 2021. The unemployment rate, which had spiked to 14.7% in April 2020, declined steadily during the period and settled at 6.0% in March 2021. Core inflation, which measures all items except food and energy, rose 1.6% over the twelve months ended March 2021. Crude oil prices, hit hard in the early stages of the pandemic, rose from $20 to $59 per barrel during the period.

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—was unchanged at 0.01% between April 1, 2020, and March 31, 2021.

Early investment surge abated later in 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 lower portfolio yield, which is expected to persist. As the period progressed and markets recovered, investors felt more confident about the prospects of riskier asset classes, and the Fund’s assets declined.

Fund surpassed the iMoneyNet average

For the period, the return of the Money Market Fund outperformed 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 March 30, 2021, the Fund’s weighted average maturity was 45 days, versus 44 days for the iMoneyNet government fund average. iMoneyNet releases their data on a weekly basis, and March 30 was the last date of release for the month.

32	2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

Performance as of March 31, 2021

Money Market Fund			Total return			Average annual total return						Annual operating expenses*
	Inception date		1 year			5 years			10 years			gross			net
Institutional Class		7/1/99		0.10	%		1.05	%		0.54	%		0.13	%		0.13	%
Advisor Class		12/4/15		0.15			1.05			0.54	^†		0.23			0.23
Premier Class		9/30/09		0.04			0.92			0.46			0.28			0.28
Retirement Class		3/31/06		0.04			0.87			0.44			0.38			0.38
Retail Class		3/31/06		0.02			0.77			0.38			0.47			0.47
iMoneyNet Money Fund Averages™—All Government^§		—		0.03			0.80			0.41			—			—

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. Teachers Advisors, and its affiliates, have agreed to voluntarily waive a portion of the expenses of the Fund to the extent needed to maintain a non-negative yield. This waiver may be terminated at any time. Without these reimbursements and waivers, expenses would be higher and returns lower. Refer to the Financial highlights later in this report for the Fund’s expense ratios as of the end of the reporting period.
^†	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 March 30, 2021)^‡

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

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 3/31/2021
Net assets	$1.43 billion
Number of issues	93

TIAA-CREF Funds: Fixed-Income Funds ■ 2021 Annual Report

Summary portfolio of investments

Bond Index Fund ■ March 31, 2021

Principal		Issuer	Value		% of net assets
BONDS

CORPORATE BONDS

AUTOMOBILES & COMPONENTS			$	21,594,469		0.1	%
BANKS
		Bank of America Corp
$	114,440,000	0.810%–6.110%, 07/21/23–03/13/52		120,231,103		0.6
		Other		720,443,017		3.7
				840,674,120		4.3
CAPITAL GOODS				299,754,457		1.5
COMMERCIAL & PROFESSIONAL SERVICES				32,335,892		0.2
CONSUMER DURABLES & APPAREL				24,146,865		0.2
CONSUMER SERVICES				104,656,680		0.5
DIVERSIFIED FINANCIALS				512,810,742		2.6
ENERGY				395,909,243		2.0
FOOD & STAPLES RETAILING				59,771,831		0.3
FOOD, BEVERAGE & TOBACCO				215,161,353		1.1
HEALTH CARE EQUIPMENT & SERVICES				263,855,132		1.4
HOUSEHOLD & PERSONAL PRODUCTS				28,047,555		0.1
INSURANCE				159,479,306		0.8
MATERIALS				136,650,618		0.7
MEDIA & ENTERTAINMENT				224,538,526		1.2
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES				291,443,718		1.5
REAL ESTATE				193,711,304		1.0
RETAILING				143,814,760		0.7
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT				100,662,206		0.5
SOFTWARE & SERVICES				218,552,528		1.1
TECHNOLOGY HARDWARE & EQUIPMENT				146,410,473		0.8
TELECOMMUNICATION SERVICES				254,100,359		1.3
TRANSPORTATION				110,407,825		0.5
UTILITIES				441,781,558		2.3
		TOTAL CORPORATE BONDS (Cost $4,973,754,355)		5,220,271,520		26.7
GOVERNMENT BONDS

AGENCY SECURITIES				269,145,426		1.4
FOREIGN GOVERNMENT BONDS				732,929,910		3.8
MORTGAGE BACKED
		Federal Home Loan Mortgage Corp Gold (FGLMC)
	598,421,910	2.500%–8.000%, 05/01/21–05/01/49		639,204,674		3.3
		Federal National Mortgage Association (FNMA)
	99,649,509	2.000%, 03/01/36		102,354,450		0.5
	253,475,064	2.500%, 10/01/50		260,350,550		1.3
	130,709,661	2.000%, 11/01/50		130,553,821		0.7
	137,086,552	2.000%, 12/01/50		137,203,668		0.7

Principal			Issuer	Value		% of net assets
MORTGAGE BACKED—continued
$	102,178,947		2.000%, 01/01/51	$	102,057,911		0.5	%
	146,085,352		2.500%, 02/01/51		150,047,902		0.8
	135,470,366		2.000%, 03/01/51		135,308,850		0.7
	160,000,000	h	2.000%, 04/01/51		159,810,080		0.8
	2,030,248,906		1.000%–8.000%, 08/01/21–07/01/55		2,129,965,793		10.9
			Government National Mortgage Association (GNMA)
	95,583,995		3.000%, 08/20/50		99,633,101		0.5
	83,387,625		2.500%, 12/20/50		86,113,265		0.5
	1,008,403,941		2.000%–8.500%, 01/20/24–02/20/51		1,065,984,023		5.5
			Other		140,529,431		0.7
					5,339,117,519		27.4
MUNICIPAL BONDS					159,712,733		0.8
			U.S. TREASURY SECURITIES
			United States Treasury Bond
	179,483,000		3.500%, 02/15/39		215,218,345		1.1
	82,500,000		3.000%, 02/15/49		92,683,594		0.5
	656,135,000		2.250%–5.000%, 02/15/36–11/15/49		760,379,816		3.9
			United States Treasury Note
	72,000,000		1.875%, 04/30/22		73,380,938		0.4
	68,000,000		2.000%, 11/30/22		70,095,781		0.4
	80,000,000		2.500%, 03/31/23		83,728,125		0.4
	80,000,000		2.750%, 05/31/23		84,412,500		0.4
	91,500,000		2.625%, 06/30/23		96,482,460		0.5
	80,000,000		2.750%, 07/31/23		84,712,500		0.4
	116,000,000		2.750%, 08/31/23		123,032,500		0.6
	65,000,000		2.875%, 11/30/23		69,478,906		0.4
	129,300,000		2.500%, 01/31/24		137,249,930		0.7
	70,000,000		2.375%, 02/29/24		74,137,109		0.4
	325,000,000		2.125%, 03/31/24		342,113,281		1.7
	174,000,000		2.250%, 04/30/24		183,957,421		0.9
	111,500,000		2.000%, 05/31/24		117,088,067		0.6
	152,000,000		1.750%, 06/30/24		158,483,750		0.8
	212,000,000		1.750%, 07/31/24		221,134,219		1.1
	81,000,000		1.500%, 09/30/24		83,790,703		0.4
	90,500,000		1.500%, 10/31/24		93,596,797		0.5
	75,000,000		1.750%, 12/31/24		78,240,234		0.4
	73,000,000		0.500%, 03/31/25		72,535,195		0.4
	134,000,000		0.250%, 06/30/25		131,288,593		0.7
	110,000,000		0.250%, 07/31/25		107,602,343		0.5
	97,000,000		0.250%, 10/31/25		94,449,961		0.5
	275,000,000		0.375%, 11/30/25		268,995,117		1.4
	126,000,000		0.375%, 01/31/26		122,879,532		0.6
	157,000,000		0.500%, 02/28/26		153,933,594		0.8
	110,000,000		0.750%, 03/31/26		109,046,093		0.6
	71,000,000		1.625%, 09/30/26		73,135,547		0.4
	89,500,000		1.750%, 12/31/26		92,625,508		0.5
	75,000,000		0.625%, 11/30/27		71,519,531		0.4
	66,000,000		2.875%, 05/15/28		72,551,015		0.4
	85,000,000		3.125%, 11/15/28		95,057,226		0.5
	92,000,000		2.375%, 05/15/29		97,764,375		0.5
	117,000,000		1.500%, 02/15/30		115,560,351		0.6
	84,000,000		0.875%, 11/15/30		77,686,875		0.4
	85,000,000	e	1.125%, 02/15/31		80,311,719		0.4
	147,500,000		1.375%, 11/15/40		125,467,187		0.6
	83,500,000		1.625%, 11/15/50		69,578,984		0.4
	1,865,184,100		0.125%–8.000%, 11/15/21–02/15/51		1,865,593,775		9.5
					7,140,979,497		36.6
			TOTAL GOVERNMENT BONDS (Cost $13,384,732,230)		13,641,885,085		70.0

2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

See notes to financial statements

Summary portfolio of investments

concluded

Bond Index Fund ■ March 31, 2021

Principal			Issuer	Value			% of net assets
STRUCTURED ASSETS

ASSET BACKED				$	122,916,751			0.6	%
OTHER MORTGAGE BACKED					410,388,769			2.1
		TOTAL STRUCTURED ASSETS (Cost $521,102,505)			533,305,520			2.7
		TOTAL BONDS (Cost $18,879,589,090)			19,395,462,125			99.4

SHORT-TERM INVESTMENTS

GOVERNMENT AGENCY DEBT
			Federal Home Loan Bank (FHLB)
$	72,447,000		0.010%, 04/23/21		72,447,000			0.4
			Other		217,205,624			1.1
					289,652,624			1.5
TREASURY DEBT					131,108,481			0.7

Shares			Company
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES					47,264,181			0.2
	47,264,181	c	State Street Navigator Securities Lending Government Money Market Portfolio 0.030%		47,264,181			0.2
		TOTAL SHORT-TERM INVESTMENTS (Cost $467,622,740)			468,025,286			2.4
		TOTAL PORTFOLIO (Cost $19,347,211,830)			19,863,487,411			101.8
		OTHER ASSETS & LIABILITIES, NET			(344,240,291	)		(1.8	)
		NET ASSETS		$	19,519,247,120			100.0	%

c	Investments made with cash collateral received from securities on loan.
e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $48,044,994. See Note 4 in the Notes to financial statements for additional information about securities lending collateral.
h	All or a portion of these securities were purchased on a delayed delivery basis.

“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 3/31/21, the aggregate value of securities exempt from registration under Rule 144(A) of the Securities Act of 1933, as amended, amounted to $172,245,116 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 ■ 2021 Annual Report

Summary portfolio of investments

Core Bond Fund ■ March 31, 2021

Principal		Issuer	Value		% of net assets
BANK LOAN OBLIGATIONS
AUTOMOBILES & COMPONENTS			$	1,864,375		0.0	%
BANKS				1,490,462		0.0
CAPITAL GOODS				8,359,701		0.1
COMMERCIAL & PROFESSIONAL SERVICES				23,811,523		0.3
CONSUMER DURABLES & APPAREL				3,551,096		0.0
CONSUMER SERVICES				17,401,819		0.2
DIVERSIFIED FINANCIALS				1,960,256		0.0
ENERGY				3,912,426		0.0
FOOD, BEVERAGE & TOBACCO				7,714,516		0.1
HEALTH CARE EQUIPMENT & SERVICES				25,358,964		0.3
HOUSEHOLD & PERSONAL PRODUCTS				3,100,548		0.0
INSURANCE				9,592,563		0.1
MATERIALS				15,982,591		0.2
MEDIA & ENTERTAINMENT				28,001,324		0.3
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES				13,758,073		0.2
REAL ESTATE				1,672,921		0.0
RETAILING				4,782,566		0.1
SOFTWARE & SERVICES				9,351,378		0.1
TECHNOLOGY HARDWARE & EQUIPMENT				4,412,141		0.1
TELECOMMUNICATION SERVICES				4,449,343		0.1
TRANSPORTATION				6,025,286		0.1
UTILITIES				11,639,510		0.1
		TOTAL BANK LOAN OBLIGATIONS (Cost $209,412,677)		208,193,382		2.4
BONDS

CORPORATE BONDS

AUTOMOBILES & COMPONENTS				39,302,408		0.5

BANKS
		Bank of America Corp
$	143,175,000	1.898%–6.250%, 01/22/25–N/A^‡		147,619,995		1.7
		Citigroup, Inc
	32,075,000	2.666%, 01/29/31		32,226,594		0.4
		JPMorgan Chase & Co
	114,895,000	1.953%–6.100%, 10/15/25–N/A^‡		120,228,344		1.4
		Other		428,767,370		4.9
				728,842,303		8.4
CAPITAL GOODS				113,295,567		1.3
COMMERCIAL & PROFESSIONAL SERVICES				32,593,028		0.4
CONSUMER DURABLES & APPAREL				12,854,341		0.1
CONSUMER SERVICES				41,904,578		0.5
DIVERSIFIED FINANCIALS				299,498,451		3.4

Principal			Issuer	Value		% of net assets
ENERGY				$	348,430,333		3.9	%
FOOD & STAPLES RETAILING					52,775,659		0.6
FOOD, BEVERAGE & TOBACCO					129,631,826		1.5
HEALTH CARE EQUIPMENT & SERVICES					158,810,071		1.8
INSURANCE					109,947,618		1.3
MATERIALS					148,873,854		1.8
MEDIA & ENTERTAINMENT					193,750,958		2.2
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES					129,887,053		1.4
REAL ESTATE					179,840,193		2.0
RETAILING					49,429,419		0.6
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT					36,358,975		0.4
SOFTWARE & SERVICES					79,000,266		0.9
TECHNOLOGY HARDWARE & EQUIPMENT					62,937,422		0.8
TELECOMMUNICATION SERVICES					197,142,653		2.3
TRANSPORTATION					52,405,362		0.6
UTILITIES					296,991,079		3.4
		TOTAL CORPORATE BONDS (Cost $3,418,441,648)			3,494,503,417		40.1

GOVERNMENT BONDS

AGENCY SECURITIES					49,869,168		0.6

FOREIGN GOVERNMENT BONDS					257,299,376		3.0

MORTGAGE BACKED
			Federal Home Loan Mortgage Corp (FHLMC)
$	34,051,167		4.000%, 09/01/49		37,234,180		0.4
			Federal Home Loan Mortgage Corp Gold (FGLMC)
	23,380,989		3.500%, 08/01/46		25,290,830		0.3
	133,977,399		3.000%–8.000%, 01/01/31–08/01/48		146,301,365		1.6
			Federal National Mortgage Association (FNMA)
	107,000,000	h	2.000%, 04/25/36		109,811,159		1.3
	64,000,000	h	2.500%, 05/25/32		66,557,500		0.8
	22,591,792		3.500%, 03/01/48		23,959,666		0.3
	184,850,000	h	3.000%, 04/25/51		192,540,048		2.2
	211,365,000	h	2.500%, 05/25/51		216,442,714		2.5
	24,889,062		3.000%, 07/01/50		26,480,216		0.3
	63,265,000	h	2.000%, 04/25/51		63,146,379		0.7
	94,990,000	h	2.500%, 04/25/51		97,476,067		1.1
	161,750,000	h	2.000%, 05/25/51		161,149,757		1.9
	346,522,193		2.000%–8.000%, 07/01/24–02/25/51		353,158,429		3.9
			Government National Mortgage Association (GNMA)
	63,402,449		3.000%, 08/20/50		66,088,288		0.8
	46,060,000	h	2.000%, 04/20/51		46,506,207		0.5
	182,550,000	h	2.500%, 04/20/51		188,354,520		2.2
	47,520,000	h	3.000%, 04/20/47		49,504,331		0.6
	48,600,000	h	2.000%, 05/20/51		48,991,078		0.6
			Other		76,418,270		0.9
					1,995,411,004		22.9

2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

See notes to financial statements

Summary portfolio of investments continued

Core Bond Fund ■ March 31, 2021

Principal			Issuer	Value		% of net assets
MUNICIPAL BONDS
			State of Illinois
$	21,060,000		5.100%, 06/01/33	$	23,710,677		0.3	%
			Other		152,994,914		1.7
					176,705,591		2.0
U.S. TREASURY SECURITIES
			United States Treasury Bond
	36,875,000		3.500%, 02/15/39		44,216,870		0.5
	42,835,000		2.750%, 11/15/47		45,798,312		0.5
	55,445,000		3.000%, 02/15/48		62,152,545		0.7
	45,841,000		3.375%, 11/15/48		55,053,967		0.6
			United States Treasury Note
	536,271,000		0.250%, 03/15/24		534,846,530		6.2
	55,595,000		0.750%, 03/31/26		55,112,887		0.6
	56,000,000		1.875%, 02/15/51		49,700,000		0.6
	94,253,000		0.125%–3.125%, 08/31/22–11/15/50		90,334,775		1.1
			Other		72,648,193		0.8
					1,009,864,079		11.6
		TOTAL GOVERNMENT BONDS (Cost $3,426,670,932)			3,489,149,218		40.1

STRUCTURED ASSETS
ASSET BACKED
			FNA VI LLC
			Series - 2021 1A (Class A)
	25,538,715	g	1.350%, 01/10/32		25,499,475		0.3
			Other		607,110,623		7.0
					632,610,098		7.3
OTHER MORTGAGE BACKED					671,606,883		7.7
		TOTAL STRUCTURED ASSETS (Cost $1,293,067,707)			1,304,216,981		15.0
		TOTAL BONDS (Cost $8,138,180,287)			8,287,869,616		95.2

Shares			Company

COMMON STOCKS
MATERIALS					503,626		0.0
MEDIA & ENTERTAINMENT					193,283		0.0
		TOTAL COMMON STOCKS (Cost $591,088)			696,909		0.0

PREFERRED STOCKS
BANKS					9,975,000		0.1
		TOTAL PREFERRED STOCKS (Cost $9,820,000)			9,975,000		0.1

Principal			Issuer

SHORT-TERM INVESTMENTS

GOVERNMENT AGENCY DEBT
			Federal Farm Credit Bank (FFCB)
$	25,000,000		0.040%, 04/13/21	$	25,000,000		0.3	%
	33,333,000		0.080%, 02/15/22		33,315,223		0.4
	113,516,000		0.030%–0.090%, 04/08/21–12/14/21		113,500,976		1.3

Principal			Issuer	Value			% of net assets
GOVERNMENT AGENCY DEBT (continued)
			Federal Home Loan Bank (FHLB)
$	51,032,000		0.085%, 04/09/21	$	51,032,000			0.6	%
	34,475,000		0.085%, 04/13/21		34,475,000			0.4
	89,496,000		0.085%, 04/14/21		89,496,000			1.0
	81,803,000		0.033%, 04/23/21		81,803,000			0.9
	24,442,000		0.010%, 05/03/21		24,441,783			0.3
	55,760,000		0.035%, 05/10/21		55,759,396			0.6
	82,581,000		0.039%, 05/12/21		82,580,059			1.0
	25,000,000		0.090%, 07/21/21		24,997,687			0.3
	45,340,000		0.058%, 08/18/21		45,334,748			0.5
	40,710,000		0.060%, 09/01/21		40,703,079			0.5
	133,074,000		0.020%–0.087%, 04/07/21–09/15/21		133,065,218			1.5
					835,504,169			9.6

TREASURY DEBT
			United States Cash Management Bill
	26,767,000		0.088%, 06/22/21		26,766,207			0.3
			United States Treasury Bill
	74,090,000		0.036%, 04/08/21		74,089,928			0.9
	123,371,000		0.088%, 04/20/21		123,369,860			1.4
	36,235,000		0.088%, 04/27/21		36,234,608			0.4
	25,000,000		0.095%, 04/29/21		24,999,806			0.3
	51,745,000		0.090%, 05/06/21		51,744,371			0.6
	25,000,000		0.036%, 05/20/21		24,999,489			0.3
	26,240,000		0.041%, 05/27/21		26,239,490			0.3
	50,000,000		0.092%, 06/03/21		49,998,687			0.6
	25,000,000		0.033%, 06/17/21		24,999,198			0.3
	56,820,000		0.101%, 06/24/21		56,818,343			0.7
	25,000,000		0.088%, 07/08/21		24,998,724			0.3
			Other		64,539,995			0.7
					609,798,706			7.1

	Shares		Company
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES					21,209,160			0.2
	21,209,160	c	State Street Navigator Securities Lending Government Money Market Portfolio 0.030%		21,209,160			0.2

		TOTAL SHORT-TERM INVESTMENTS (Cost $1,466,405,902)			1,466,512,035			16.9

		TOTAL PORTFOLIO (Cost $9,824,409,954)			9,973,246,942			114.6
		OTHER ASSETS & LIABILITIES, NET			(1,270,023,779	)		(14.6	)
		NET ASSETS		$	8,703,223,163			100.0	%


‡	Perpetual security
c	Investments made with cash collateral received from securities on loan.
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 3/31/21, the aggregate value of these securities, including those in “Other,” is $1,834,129,646 or 21.1% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.

“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 3/31/21, the aggregate value of securities on loan is $20,582,500. See Note 4 in the Notes to financial statements for additional information about securities lending collateral.

See notes to financial statements

TIAA-CREF Funds: Fixed-Income Funds ■ 2021 Annual Report

Summary portfolio of investments

concluded

Core Bond Fund ■ March 31, 2021

Forward foreign currency contracts outstanding as of March 31, 2021 were as follows:

Currency to be purchased

Receive

Currency to be sold

Deliver

Counterparty

Settlement date

Unrealized appreciation (depreciation

)

2,535,059

EUR

2,080,386

AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED

04/22/21

$94,277

Abbreviations(s):

EUR

Euro

Centrally cleared credit default swap contracts outstanding as of March 31, 2021 were as follows:

PURCHASED

Reference entity

Terms of payments to be paid

Terms of payments
to be received

Counterparty

Fixed rate
payment
frequency

Maturity
date

Notional
amount

Value

Premiums paid (received

)

Variation margin

Unrealized appreciation (depreciation

)

CDX-NAHYS36V1-5Y

5.000%

Credit event as specified in contract

Citigroup Global Markets, Inc

Quarterly

06/20/26

35,000,000

$(3,170,191)

$(2,980,622)

$(155,280)

$(189,569)


*	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.

2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

See notes to financial statements

Summary portfolio of investments

Core Impact Bond Fund ■ March 31, 2021

Principal			Issuer	Value		% of net assets
BANK LOAN OBLIGATIONS
MATERIALS				$	24,594		0.0	%
UTILITIES					7,683,976		0.1
		TOTAL BANK LOAN OBLIGATIONS (Cost $7,668,196)			7,708,570		0.1

BONDS

CORPORATE BONDS
AUTOMOBILES & COMPONENTS					41,613,266		0.7
BANKS					581,362,352		9.3
CAPITAL GOODS					102,330,287		1.7
COMMERCIAL & PROFESSIONAL SERVICES					16,488,052		0.3
CONSUMER SERVICES					73,351,426		1.2
DIVERSIFIED FINANCIALS
			BPCE S.A.
$	21,400,000	g	1.652%, 10/06/26		21,350,006		0.3
			Other		210,563,496		3.5
					231,913,502		3.8
ENERGY					161,257,308		2.6
FOOD & STAPLES RETAILING					29,480,150		0.5
FOOD, BEVERAGE & TOBACCO					36,666,967		0.6
HEALTH CARE EQUIPMENT & SERVICES					26,974,789		0.4
HOUSEHOLD & PERSONAL PRODUCTS					31,097,151		0.5
INSURANCE					112,376,014		1.8
MATERIALS					109,087,303		1.7
MEDIA & ENTERTAINMENT					57,337,474		0.8
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES					111,372,759		1.7
REAL ESTATE					129,618,655		2.0
RETAILING					31,100,546		0.5
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT					31,169,616		0.5
SOFTWARE & SERVICES					37,333,268		0.6
TECHNOLOGY HARDWARE & EQUIPMENT					6,238,693		0.1
TELECOMMUNICATION SERVICES					52,036,947		0.8
TRANSPORTATION					64,069,548		1.0
UTILITIES					571,673,213		9.1

		TOTAL CORPORATE BONDS (Cost $2,626,867,114)			2,645,949,286		42.2

GOVERNMENT BONDS
AGENCY SECURITIES
			Federal Home Loan Mortgage Corp (FHLMC)
	23,000,000		0.375%, 05/05/23		23,098,868		0.4
	22,692,000		0.250%, 12/04/23		22,658,132		0.4
			Other		234,193,468		3.7
					279,950,468		4.5

Principal			Issuer	Value		% of net assets
FOREIGN GOVERNMENT BONDS				$	362,721,957		5.8	%
MORTGAGE BACKED
			Federal Home Loan Mortgage Corp (FHLMC)
$	30,462,944		4.000%, 06/01/48		33,427,703		0.5
			Federal National Mortgage Association (FNMA)
	67,000,000	h	2.000%, 04/25/36		68,760,258		1.1
	40,900,000	h	2.500%, 05/25/32		42,534,402		0.7
	19,797,206		3.500%, 02/01/48		20,934,750		0.3
	18,825,976		3.500%, 03/01/48		19,965,840		0.3
	33,966,462		3.500%, 04/01/48		36,009,921		0.6
	123,145,000	h	3.000%, 04/25/51		128,268,024		2.0
	137,500,000	h	2.500%, 05/25/51		140,803,223		2.2
	20,908,694		3.000%, 07/01/50		22,245,384		0.4
	37,190,000	h	2.000%, 04/25/51		37,120,269		0.6
	58,640,000	h	2.500%, 04/25/51		60,174,719		1.0
	99,600,000	h	2.000%, 05/25/51		99,230,391		1.6
	185,515,676		2.000%–5.841%, 04/24/26–02/25/51		188,387,150		3.0
			Government National Mortgage Association (GNMA)
	51,874,731		3.000%, 08/20/50		54,072,235		0.9
	39,325,000	h	2.000%, 04/20/51		39,705,961		0.6
	133,150,000	h	2.500%, 04/20/51		137,383,755		2.2
	29,945,000	h	3.000%, 04/20/47		31,195,438		0.5
	43,400,000	h	2.000%, 05/20/51		43,749,235		0.7
			Other		131,264,290		2.1
					1,335,232,948		21.3
MUNICIPAL BONDS
			Chicago Metropolitan Water Reclamation District-Greater Chicago
	16,465,000		5.720%, 12/01/38		21,902,028		0.4
			Grant County Public Utility District No 2
	20,000,000		2.918%, 01/01/40		20,459,988		0.3
			Other		429,133,958		6.8
					471,495,974		7.5
U.S. TREASURY SECURITIES
			United States Treasury Inflation Indexed Bonds
	20,740,400	k	0.500%, 04/15/24		22,481,189		0.4
			United States Treasury Note
	26,730,000		0.250%, 03/15/24		26,658,998		0.4
	50,207,000		0.750%, 03/31/26		49,771,611		0.8
	20,935,000		1.125%, 02/29/28		20,568,638		0.3
	77,990,000	e	1.125%, 02/15/31		73,688,364		1.2
	21,508,000		1.875%, 02/15/41		20,025,964		0.3
	53,510,000		1.375%, 08/15/50		41,754,522		0.7
	52,567,000		1.625%, 11/15/50		43,803,095		0.7
			Other		78,827,468		1.2
					377,579,849		6.0
		TOTAL GOVERNMENT BONDS (Cost $2,804,458,670)			2,826,981,196		45.1
STRUCTURED ASSETS
ASSET BACKED					248,029,111		4.0
OTHER MORTGAGE BACKED					335,717,145		5.4
		TOTAL STRUCTURED ASSETS (Cost $576,366,099)			583,746,256		9.4
		TOTAL BONDS (Cost $6,007,691,883)			6,056,676,738		96.7

See notes to financial statements

TIAA-CREF Funds: Fixed-Income Funds ■ 2021 Annual Report

Summary portfolio of investments

concluded

Core Impact Bond Fund ■ March 31, 2021

Shares			Company	Value		% of net assets
PREFERRED STOCKS
BANKS				$	12,651,800		0.2	%
INSURANCE					3,986,600		0.1
REAL ESTATE					27,540,850		0.4
UTILITIES					20,563,760		0.3

		TOTAL PREFERRED STOCKS (Cost $63,450,000)			64,743,010		1.0

Principal			Issuer

SHORT-TERM INVESTMENTS

GOVERNMENT AGENCY DEBT
			Federal Farm Credit Bank (FFCB)
$	25,664,000		0.070%, 12/01/21		25,655,303		0.4
			Federal Home Loan Bank (FHLB)
	24,000,000		0.035%, 04/09/21		24,000,000		0.4
	25,000,000		0.085%, 04/13/21		25,000,000		0.4
	36,911,000		0.039%, 04/14/21		36,911,000		0.6
	73,431,000		0.080%, 04/16/21		73,431,000		1.2
	25,000,000		0.005%, 04/19/21		25,000,000		0.4
	25,300,000		0.035%, 04/21/21		25,300,000		0.4
	20,220,000		0.085%, 04/28/21		20,220,000		0.3
	45,743,000		0.100%, 05/12/21		45,742,479		0.7
	28,750,000		0.010%, 05/14/21		28,749,657		0.4
	38,318,000		0.019%, 05/19/21		38,317,489		0.6
	42,650,000		0.090%, 05/21/21		42,649,408		0.7
	45,005,000		0.054%, 08/13/21		44,999,974		0.7
	161,234,000		0.005%–0.100%, 04/07/21–09/15/21		161,226,501		2.6
			Other		20,155,870		0.4
					637,358,681		10.2
TREASURY DEBT
			United States Cash Management Bill
	30,000,000		0.087%, 06/15/21		29,999,687		0.5
			United States Treasury Bill
	35,000,000		0.010%, 04/06/21		34,999,964		0.6
	39,030,000		0.032%, 04/08/21		39,029,962		0.6
	25,000,000		0.082%, 04/20/21		24,999,769		0.4
	38,975,000		0.098%, 04/29/21		38,974,697		0.6
	75,850,000		0.042%, 05/27/21		75,848,526		1.2
			Other		38,474,260		0.6
					282,326,865		4.5

Forward foreign currency contracts outstanding as of March 31, 2021 were as follows:

Shares			Company	Value			% of net assets
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES
	47,966,951	c	State Street Navigator Securities Lending
			Government Money Market Portfolio
			0.030%	$	47,966,951		0.8	%
					47,966,951		0.8
		TOTAL SHORT-TERM INVESTMENTS (Cost $967,614,289)			967,652,497		15.5
		TOTAL PORTFOLIO (Cost $7,046,424,368)			7,096,780,815		113.3
		OTHER ASSETS & LIABILITIES, NET			(831,171,229	)	(13.3	)
		NET ASSETS		$	6,265,609,586		100.0	%

c	Investments made with cash collateral received from securities on loan.
e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $46,876,535. See Note 4 in the Notes to financial statements for additional information about securities lending collateral.
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 3/31/21, the aggregate value of these securities, including those in “Other,” is $1,521,650,146 or 24.3% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.
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.

Currency to be purchased	Receive	Currency to be sold	Deliver	Counterparty	Settlement date	Unrealized appreciation (depreciation	)
$	9,566,828	EUR	7,850,981	AUSTRALIA AND NEW ZEALAND
				BANKING GROUP LIMITED	04/22/21	$355,782
$	3,003,773	EUR	2,471,223	BANK OF AMERICA, N.A.	05/28/21	102,144
$	13,030,451	CLP	9,350,000,000	CITIBANK N.A.	05/19/21	48,108
Total						$506,034

Abbreviation(s):

CLP	Chilean Peso
EUR	Euro

2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

See notes to financial statements

Summary portfolio of investments

Core Plus Bond Fund ■ March 31, 2021

Principal			Issuer	Value		% of net assets
BANK LOAN OBLIGATIONS

AUTOMOBILES & COMPONENTS				$	2,760,790		0.1	%
BANKS					1,490,462		0.0
CAPITAL GOODS					5,129,634		0.1
COMMERCIAL & PROFESSIONAL SERVICES					23,421,140		0.4
CONSUMER DURABLES & APPAREL					2,495,128		0.0
CONSUMER SERVICES					16,043,183		0.3
DIVERSIFIED FINANCIALS					735,830		0.0
ENERGY					1,478,889		0.0
FOOD, BEVERAGE & TOBACCO					6,408,200		0.1
HEALTH CARE EQUIPMENT & SERVICES					17,302,527		0.3
HOUSEHOLD & PERSONAL PRODUCTS					3,147,816		0.1
INSURANCE					5,471,665		0.1
MATERIALS					11,918,135		0.2
MEDIA & ENTERTAINMENT					29,370,660		0.5
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES					9,422,681		0.2
REAL ESTATE					1,219,405		0.0
RETAILING					7,309,315		0.1
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT					670,940		0.0
SOFTWARE & SERVICES					8,685,067		0.2
TECHNOLOGY HARDWARE & EQUIPMENT					3,809,452		0.1
TELECOMMUNICATION SERVICES					4,577,491		0.1
TRANSPORTATION					4,432,010		0.1
UTILITIES					8,483,738		0.2
		TOTAL BANK LOAN OBLIGATIONS (Cost $176,151,271)			175,784,158		3.2

BONDS

CORPORATE BONDS
AUTOMOBILES & COMPONENTS					44,877,882		0.8
BANKS
			Bank of America Corp
$	66,690,000		1.922%–6.300%, 10/22/25–09/17/69		68,857,728		1.3
			Citigroup, Inc
	55,480,000		2.572%–6.300%, 03/26/25–N/A^‡		59,040,141		1.1
			JPMorgan Chase & Co
	13,880,000		3.702%, 05/06/30		15,128,614		0.3
			Other		274,331,589		4.8
					417,358,072		7.5
CAPITAL GOODS					74,907,944		1.2
COMMERCIAL & PROFESSIONAL SERVICES					44,817,466		0.9
CONSUMER DURABLES & APPAREL					12,973,585		0.2
CONSUMER SERVICES					47,605,786		0.8

Principal			Issuer	Value		% of net assets
DIVERSIFIED FINANCIALS				$	241,233,996		4.4	%
ENERGY					235,077,550		4.2
FOOD & STAPLES RETAILING					26,869,271		0.5
FOOD, BEVERAGE & TOBACCO					85,377,358		1.6
HEALTH CARE EQUIPMENT & SERVICES					114,608,366		2.0
INSURANCE					60,252,607		1.1
MATERIALS					131,423,223		2.3
MEDIA & ENTERTAINMENT					145,940,921		2.7
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES					69,173,369		1.2
REAL ESTATE					97,661,804		1.7
RETAILING					36,239,458		0.7
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT					16,115,011		0.3
SOFTWARE & SERVICES					39,530,345		0.7
TECHNOLOGY HARDWARE & EQUIPMENT					34,322,473		0.6
TELECOMMUNICATION SERVICES					129,097,075		2.3
TRANSPORTATION					39,341,635		0.8
UTILITIES					186,667,228		3.4

		TOTAL CORPORATE BONDS (Cost $2,266,608,950)			2,331,472,425		41.9

GOVERNMENT BONDS
AGENCY SECURITIES					2,714,775		0.1
FOREIGN GOVERNMENT BONDS					206,049,848		3.7
MORTGAGE BACKED
			Federal Home Loan Mortgage Corp (FHLMC)
$	62,304,223		3.000%, 11/01/49		65,865,503		1.2
			Federal Home Loan Mortgage Corp Gold (FGLMC)
	15,750,596		3.500%, 08/01/46		17,037,160		0.3
	15,823,947		3.000%, 02/01/47		16,737,742		0.3
	26,130,363		3.500%, 03/01/48		28,194,444		0.5
	15,393,848		4.500%, 08/01/48		17,145,595		0.3
			Federal National Mortgage Association (FNMA)
	56,000,000	h	2.000%, 04/25/36		57,471,261		1.0
	15,000,000	h	2.500%, 05/25/32		15,599,414		0.3
	21,859,157		3.000%, 11/01/46		23,093,863		0.4
	22,536,653		3.500%, 01/01/47		23,987,374		0.4
	22,700,672		4.000%, 09/01/47		24,489,037		0.4
	15,924,962		3.500%, 01/01/48		17,175,695		0.3
	15,879,273		3.000%, 02/25/48		16,779,858		0.3
	145,500,000	h	2.500%, 05/25/51		148,995,411		2.7
	39,345,000	h	2.000%, 04/25/51		39,271,229		0.7
	64,150,000	h	2.500%, 04/25/51		65,828,926		1.2
	100,500,000	h	2.000%, 05/25/51		100,127,052		1.8
	203,326,134		2.000%–9.000%, 07/01/22–02/25/51		210,069,884		3.7
			Government National Mortgage Association (GNMA)
	31,701,225		3.000%, 08/20/50		33,044,144		0.6
	33,650,000	h	2.000%, 04/20/51		33,975,985		0.6
	117,000,000	h	2.500%, 04/20/51		120,720,235		2.2
	20,540,000	h	3.000%, 04/20/47		21,397,705		0.4
	37,100,000	h	2.000%, 05/20/51		37,398,539		0.7

See notes to financial statements

TIAA-CREF Funds: Fixed-Income Funds ■ 2021 Annual Report

Summary portfolio of investments

continued

Core Plus Bond Fund ■ March 31, 2021

Principal			Issuer	Value		% of net assets
MORTGAGE BACKED—continued
			Other	$	89,302,026		1.7	%
					1,223,708,082		22.0
MUNICIPAL BONDS					139,028,856		2.5
U.S. TREASURY SECURITIES
			United States Treasury Note
$	29,715,000		0.125%, 01/31/23		29,701,071		0.5
	14,795,000		0.125%, 02/28/23		14,785,753		0.3
	139,725,000		0.250%, 03/15/24		139,353,855		2.5
	41,245,000		0.750%, 03/31/26		40,887,328		0.7
	98,174,000		1.250%, 05/15/50		74,086,856		1.3
	26,875,000		1.875%, 02/15/51		23,851,562		0.4
			Other		46,058,462		0.9
					368,724,887		6.6
		TOTAL GOVERNMENT BONDS (Cost $1,941,012,059)			1,940,226,448		34.9

STRUCTURED ASSETS
ASSET BACKED					447,725,776		8.0
OTHER MORTGAGE BACKED
			COMM Mortgage Trust
			Series - 2012 CR2 (Class A3)
	20,000,000	g	2.841%, 08/15/45		20,338,066		0.4
	41,088,000	g	3.000%–5.306%, 03/10/46–10/10/48		42,001,334		0.8
			Other		401,167,448		7.1
					463,506,848		8.3

		TOTAL STRUCTURED ASSETS (Cost $901,264,304)			911,232,624		16.3
		TOTAL BONDS (Cost $5,108,885,313)			5,182,931,497		93.1

Shares			Company

COMMON STOCKS
ENERGY					15		0.0
MATERIALS					575,573		0.0
MEDIA & ENTERTAINMENT					1,181,712		0.0
REAL ESTATE					7,913		0.0

		TOTAL COMMON STOCKS (Cost $1,848,627)			1,765,213		0.0

PREFERRED STOCKS
BANKS					14,191,520		0.2
DIVERSIFIED FINANCIALS					4,061,612		0.1

		TOTAL PREFERRED STOCKS (Cost $17,314,409)			18,253,132		0.3

Principal			Issuer	Value			% of net assets
SHORT-TERM INVESTMENTS
GOVERNMENT AGENCY DEBT
			Federal Farm Credit Bank (FFCB)
$	25,000,000		0.040%, 04/13/21	$	25,000,000			0.5	%
	15,000,000		0.080%, 12/28/21		14,994,354			0.3
			Federal Home Loan Bank (FHLB)
	24,980,000		0.037%, 04/13/21		24,980,000			0.4
	118,871,000		0.085%, 04/14/21		118,871,000			2.1
	44,928,000		0.028%, 04/16/21		44,928,000			0.8
	25,000,000		0.005%, 04/19/21		25,000,000			0.5
	34,200,000		0.080%, 04/21/21		34,200,000			0.6
	25,000,000		0.030%, 04/23/21		25,000,000			0.4
	20,000,000		0.014%, 05/12/21		19,999,772			0.4
	24,920,000		0.035%, 05/28/21		24,919,606			0.4
	37,370,000		0.025%, 06/16/21		37,368,422			0.7
	15,000,000		0.086%, 06/30/21		14,999,250			0.3
	20,000,000		0.050%, 08/06/21		19,997,884			0.4
	25,000,000		0.054%, 08/13/21		24,997,208			0.4
	33,600,000		0.058%, 08/18/21		33,596,108			0.6
	20,000,000		0.058%, 09/08/21		19,996,444			0.4
			Other		76,408,743			1.4
					585,256,791			10.6
TREASURY DEBT
			United States Cash Management Bill
	25,000,000		0.023%, 07/06/21		24,999,133			0.4
			United States Treasury Bill
	69,115,000		0.031%, 04/08/21		69,114,933			1.2
	36,185,000		0.095%, 04/29/21		36,184,718			0.7
	25,000,000		0.030%, 05/20/21		24,999,490			0.5
	39,173,000		0.042%, 05/27/21		39,172,238			0.7
			Other		16,780,670			0.3
					211,251,182			3.8

Shares			Company
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES
	8,330,743	c	State Street Navigator Securities Lending Government Money Market Portfolio
			0.030%		8,330,743			0.1
					8,330,743			0.1

		TOTAL SHORT-TERM INVESTMENTS (Cost $804,819,028)			804,838,716			14.5

		TOTAL PORTFOLIO (Cost $6,109,018,648)			6,183,572,716			111.1
		OTHER ASSETS & LIABILITIES, NET			(618,748,679	)		(11.1	)

		NET ASSETS		$	5,564,824,037			100.0	%

2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

See notes to financial statements

Summary portfolio of investments

concluded

Core Plus Bond Fund ■ March 31, 2021

‡	Perpetual security
c	Investments made with cash collateral received from securities on loan.
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 3/31/21, the aggregate value of these securities, including those in “Other,” is $1,607,242,614 or 28.9% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.

At 3/31/21, the aggregate value of securities on loan is $8,114,934. See Note 4 in the Notes to financial statements for additional information about securities lending collateral.

“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.

Forward foreign currency contracts outstanding as of March 31, 2021 were as follows:

Currency to be
purchased

Receive

Currency to be sold

Deliver

Counterparty

Settlement date

Unrealized
appreciation
(depreciation)

1,901,294

EUR

1,560,290

AUSTRALIA AND NEW ZEALAND

BANKING GROUP LIMITED

04/22/21

$70,707

Abbreviations(s):

EUR

Euro

Centrally cleared credit default swap contracts outstanding as of March 31, 2021 were as follows:

PURCHASED

Reference
entity

Terms of payments
to be paid

Terms of payments
to be received

Counterparty

Fixed rate
payment
frequency

Maturity
date

Notional
amount

Value

Premiums
paid
(received

)

Variation
margin

Unrealized
appreciation
(depreciation

)

CDX-NAHYS36V1-5Y

5.000%

Credit event as specified in contract

Citigroup Global
Markets, Inc

Quarterly

06/20/26

170,000,000

$(15,398,071)

$(14,477,309)

$(754,217)

$(920,762)


*	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.

SOLD

Reference
entity

Terms of
payments
to be paid

Terms of payments
to be received

Counterparty

Fixed rate
payment
frequency

Maturity
date

Notional
amount

Value

Premiums
paid
(received

)

Variation
margin

Unrealized
appreciation
(depreciation

)

CDX-NAHYS36V1-5Y

Credit event as specified in contract

5.000%

Citigroup Global Markets, Inc

Quarterly

06/20/26

$30,000,000

$2,642,313

$2,600,646

$41,667


*	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.

See notes to financial statements

TIAA-CREF Funds: Fixed-Income Funds ■ 2021 Annual Report

Summary portfolio of investments

5–15 Year Laddered Tax-Exempt Bond Fund ■ March 31, 2021

Principal			Issuer	Value		% of net assets
LONG-TERM MUNICIPAL BONDS
ALABAMA
			Lower Alabama Gas District
$	2,900,000		4.000%, 12/01/50	$	3,304,116		1.2	%
			Other		3,262,232		1.1
					6,566,348		2.3
ALASKA
			Borough of Matanuska-Susitna AK
	2,570,000		5.000%, 09/01/25		2,985,839		1.1
			Other		596,205		0.2
					3,582,044		1.3
ARIZONA
			Chandler Industrial Development Authority
	2,000,000		5.000%, 06/01/49		2,270,680		0.8
			Other		227,476		0.1
					2,498,156		0.9
ARKANSAS					1,266,551		0.5
CALIFORNIA
			California Health Facilities Financing Authority
	1,510,000		5.000%, 09/01/33		1,827,324		0.7
			City of Los Angeles Department of Airports
	2,000,000		5.000%, 05/15/27		2,404,095		0.9
			Other		6,894,397		2.6
					11,125,816		4.2
COLORADO
			City & County of Denver CO Airport System Revenue
	1,500,000		5.000%, 11/15/30		1,831,609		0.7
			Other		1,926,953		0.6
					3,758,562		1.3
CONNECTICUT
			City of Bridgeport CT
	1,900,000		5.000%, 06/01/34		2,391,655		0.9
			University of Connecticut
	2,000,000		5.000%, 03/15/28		2,398,731		0.9
			Other		7,514,484		2.7
					12,304,870		4.5
DISTRICT OF COLUMBIA					1,161,936		0.4
FLORIDA
			County of Miami-Dade FL Aviation Revenue
	1,500,000		4.000%, 10/01/36		1,773,165		0.6
			Escambia County Health Facilities Authority
	3,000,000		5.000%, 08/15/32		3,776,840		1.3
			Florida Development Finance Corp
	2,000,000	g	7.375%, 01/01/49		1,965,627		0.7
			Miami-Dade County Expressway Authority
	1,375,000		5.000%, 07/01/31		1,650,862		0.6
			Port St. Lucie Community Redevelopment Agency
	2,180,000		5.000%, 01/01/26		2,597,220		0.9
			Other		7,798,622		2.8
					19,562,336		6.9

Principal		Issuer	Value		% of net assets
GEORGIA
		Brookhaven Development Authority
$	1,250,000	5.000%, 07/01/27	$	1,569,021		0.6	%
		Other		7,489,957		2.6
				9,058,978		3.2
GUAM				480,035		0.2
HAWAII
		City & County of Honolulu HI
	1,275,000	5.000%, 09/01/27		1,608,700		0.6
		Other		2,387,722		0.8
				3,996,422		1.4
ILLINOIS
		Chicago Board of Education
	1,500,000	5.000%, 12/01/26		1,765,032		0.6
		Chicago Midway International Airport
	2,000,000	5.000%, 01/01/26		2,369,475		0.8
		City of Chicago IL
	3,250,000	5.000%, 01/01/28		3,901,090		1.4
		City of Chicago IL, GO
	1,500,000	5.500%, 01/01/35		1,679,500		0.6
		County of Cook IL
	1,750,000	5.000%, 11/15/31		2,132,114		0.8
		Metropolitan Water Reclamation District of
		Greater Chicago
	2,000,000	5.000%, 12/01/30		2,460,519		0.9
		Sales Tax Securitization Corp
	1,500,000	5.000%, 01/01/30		1,822,226		0.7
		State of Illinois
	2,000,000	5.000%, 06/01/28		2,322,586		0.8
	1,500,000	5.000%, 03/01/37		1,822,797		0.7
		Other		16,675,150		5.8
				36,950,489		13.1
INDIANA
		City of Whiting IN
	1,365,000	5.000%, 12/01/44		1,656,900		0.6
				1,656,900		0.6
IOWA				595,402		0.2
KENTUCKY
		Kentucky Turnpike Authority
	2,000,000	5.000%, 07/01/26		2,423,993		0.9
		Other		3,028,843		1.0
				5,452,836		1.9
LOUISIANA				4,880,099		1.7
MAINE				412,500		0.2
MARYLAND
		County of Baltimore MD
	2,000,000	4.000%, 01/01/29		2,285,133		0.8
				2,285,133		0.8

2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

See notes to financial statements

Summary portfolio of investments

continued

5–15 Year Laddered Tax-Exempt Bond Fund ■ March 31, 2021

Principal		Issuer	Value		% of net assets
MASSACHUSETTS
		University of Massachusetts Building Authority
$	2,100,000	5.000%, 11/01/29	$	2,778,073		1.0	%
		Other		604,759		0.2
				3,382,832		1.2
MICHIGAN
		Michigan Finance Authority
	2,000,000	5.000%, 04/01/25		2,310,673		0.8
	2,000,000	5.000%, 11/15/28		2,446,507		0.9
	1,650,000	5.000%, 07/01/44		1,749,861		0.6
		State of Michigan Trunk Line Revenue
	1,750,000	5.000%, 11/15/30		2,352,407		0.8
		Wayne County Airport Authority
	1,250,000	5.000%, 12/01/29		1,555,933		0.6
		Other		1,096,485		0.4
				11,511,866		4.1
MINNESOTA				2,581,351		0.9
MISSISSIPPI				5,130,580		1.8
MISSOURI
		St. Louis Municipal Finance Corp
	1,745,000	5.000%, 02/15/26		2,092,719		0.7
		Other		4,989,478		1.7
				7,082,197		2.4
NEBRASKA				269,621		0.1
NEVADA				1,180,379		0.4
NEW JERSEY
		New Jersey Economic Development Authority
	2,500,000	5.000%, 11/01/35		3,060,606		1.1
		New Jersey Transportation Trust Fund Authority
	4,000,000	5.000%, 06/15/34		4,884,538		1.7
		Other		6,696,501		2.3
				14,641,645		5.1
NEW YORK
		New York State Dormitory Authority
	1,750,000	5.000%, 07/01/33		2,112,838		0.8
		Port Authority of New York & New Jersey
	1,500,000	5.000%, 07/15/31		1,931,957		0.7
	1,625,000	4.000%, 07/15/36		1,901,843		0.7
		Other		13,849,723		4.9
				19,796,361		7.1
NORTH CAROLINA
		County of Duplin NC
	1,355,000	5.000%, 04/01/27		1,618,471		0.6
		Other		4,452,460		1.6
				6,070,931		2.2
NORTH DAKOTA				1,055,877		0.4
	OHIO
		County of Miami OH
	1,500,000	5.000%, 08/01/32		1,869,846		0.7
		Other		6,225,762		2.1
				8,095,608		2.8

Principal			Issuer	Value		% of net assets
OKLAHOMA
			Oklahoma Development Finance Authority
$	1,500,000		5.250%, 08/15/48	$	1,794,295		0.6	%
			Other		924,847		0.3
					2,719,142		0.9
OREGON					2,734,399		1.0
PENNSYLVANIA
			School District of the City of Erie
	1,500,000		5.000%, 04/01/28		1,877,919		0.7
			Other		8,024,008		2.9
					9,901,927		3.6
RHODE ISLAND					1,015,883		0.4
SOUTH CAROLINA					2,507,351		0.9
TENNESSEE
			Metropolitan Nashville Airport Authority
	2,305,000		5.000%, 07/01/35		2,889,010		1.0
			Other		856,558		0.3
					3,745,568		1.3
TEXAS
			City of El Paso TX Airport Revenue
	2,000,000		5.000%, 08/15/28		2,497,708		0.9
			City of Houston TX
	1,970,000		5.000%, 03/01/32		2,404,817		0.9
			City of Houston TX Combined Utility System Revenue
	4,000,000		5.000%, 11/15/29		5,291,304		1.9
			Texas Private Activity Bond Surface Transportation Corp
	2,500,000		5.000%, 12/31/35		3,114,835		1.1
			Other		15,353,780		5.6
					28,662,444		10.4
UTAH					3,042,860		1.0
VIRGIN ISLANDS
			Virgin Islands Public Finance Authority
	2,000,000	g	5.000%, 09/01/25		2,282,945		0.8
	2,500,000	g	5.000%, 09/01/33		2,766,883		1.0
					5,049,828		1.8
WASHINGTON					1,787,987		0.6
WEST VIRGINIA					3,721,393		1.3
		TOTAL LONG-TERM MUNICIPAL BONDS (Cost $260,300,066)			273,283,443		97.3
		TOTAL PORTFOLIO (Cost $260,300,066)			273,283,443		97.3
		OTHER ASSETS & LIABILITIES, NET			7,499,945		2.7
		NET ASSETS		$	280,783,388		100.0	%

See notes to financial statements

TIAA-CREF Funds: Fixed-Income Funds ■ 2021 Annual Report

Summary portfolio of investments

concluded

5–15 Year Laddered Tax-Exempt Bond Fund ■ March 31, 2021

Abbreviation(s):

GO	General Obligation

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 3/31/21, the aggregate value of these securities, including those in “Other,” is $9,700,571 or 3.5% of net assets.

“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.

2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

See notes to financial statements

Summary portfolio of investments

Green Bond Fund ■ March 31, 2021

Principal			Issuer	Value		% of net assets
BANK LOAN OBLIGATIONS
UTILITIES
			Exgen Renewables IV LLC
$	498,750	i	3.750%, 12/15/27, LIBOR 3 M + 2.750%	$	498,960		1.0	%
					498,960		1.0
		TOTAL BANK LOAN OBLIGATIONS (Cost $496,338)			498,960		1.0

BONDS

CORPORATE BONDS

AUTOMOBILES & COMPONENTS
			Hyundai Capital Services, Inc
	350,000	g	1.250%, 02/08/26		341,329		0.7
					341,329		0.7
	BANKS
			Bank of America Corp
	475,000		2.456%, 10/22/25		497,890		1.0
			Citigroup, Inc
	500,000		1.678%, 05/15/24		510,185		1.0
			ING Groep NV
	450,000	g	1.400%, 07/01/26		447,678		0.9
			Other		1,664,662		3.2
					3,120,415		6.1
CAPITAL GOODS					606,277		1.2
CONSUMER SERVICES
			Nature Conservancy
	500,000		1.511%, 07/01/29		472,928		1.0
			Other		520,151		1.0
					993,079		2.0
DIVERSIFIED FINANCIALS					130,625		0.3
FOOD & STAPLES RETAILING					248,234		0.5
FOOD, BEVERAGE & TOBACCO					516,904		1.0
HEALTH CARE EQUIPMENT & SERVICES
			Kaiser Foundation Hospitals
	650,000		3.150%, 05/01/27		709,210		1.4
					709,210		1.4
MATERIALS
			Inversiones CMPC S.A.
	525,000	g	4.375%, 04/04/27		577,348		1.1
			LG Chem Ltd
	500,000	g	3.625%, 04/15/29		541,212		1.1
			Other		278,811		0.6
					1,397,371		2.8
MEDIA & ENTERTAINMENT
			Liberty Utilities Finance GP
	500,000	g	2.050%, 09/15/30		468,463		0.9
			Other		503,802		1.0
					972,265		1.9

Principal			Issuer	Value		% of net assets
REAL ESTATE
			HAT Holdings I LLC
$	775,000		3.750%–6.000%, 07/15/24–09/15/30	$	788,313		1.5	%
			Other		1,001,894		2.0
					1,790,207		3.5
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT					524,027		1.0
SOFTWARE & SERVICES					294,879		0.6
TECHNOLOGY HARDWARE & EQUIPMENT
			Apple, Inc
	500,000		3.000%, 06/20/27		542,495		1.1
					542,495		1.1
UTILITIES
			AES Corp
	350,000	g	2.450%, 01/15/31		334,629		0.7
			Avangrid, Inc
	600,000		3.200%, 04/15/25		642,389		1.3
			Azure Power Energy Ltd
	500,000	g	5.500%, 11/03/22		510,002		1.0
			Clearway Energy Operating LLC
	300,000	g	4.750%, 03/15/28		312,117		0.6
			Duke Energy Florida LLC
	500,000		2.500%, 12/01/29		509,892		1.0
			Georgia Power Co
	500,000		3.250%, 04/01/26		540,402		1.1
			MidAmerican Energy Co
	600,000		3.650%, 08/01/48		634,494		1.2
			Niagara Mohawk Power Corp
	550,000	g	1.960%, 06/27/30		525,653		1.0
			Public Service Co of Colorado
	529,000		3.700%, 06/15/28		585,148		1.2
			Southwestern Public Service Co
	500,000		3.150%, 05/01/50		486,792		1.0
			Topaz Solar Farms LLC
	357,710	g	4.875%, 09/30/39		388,706		0.8
			Westar Energy, Inc
	750,000		2.550%, 07/01/26		785,843		1.5
			Other		4,323,750		8.4
					10,579,817		20.8
		TOTAL CORPORATE BONDS (Cost $22,371,567)			22,767,134		44.9

GOVERNMENT BONDS
AGENCY SECURITIES
			United States International Development Finance Corp
	500,000		1.610%, 07/15/38		482,535		0.9
			Other		1,013,110		2.0
					1,495,645		2.9
FOREIGN GOVERNMENT BONDS
			African Development Bank
	625,000		3.000%, 12/06/21		636,941		1.3

See notes to financial statements

TIAA-CREF Funds: Fixed-Income Funds ■ 2021 Annual Report

Summary portfolio of investments

continued

Green Bond Fund ■ March 31, 2021

Principal			Issuer	Value		% of net assets
FOREIGN GOVERNMENT BONDS—continued
			Asian Development Bank
$	500,000		1.875%, 08/10/22	$	511,353		1.0	%
	579,000		1.750%, 08/14/26		598,871		1.2
	750,000		3.125%, 09/26/28		831,078		1.6
			European Investment Bank
	1,500,000		0.750%, 09/23/30		1,361,676		2.7
			International Bank for Reconstruction & Development
	500,000		2.125%, 03/03/25		527,541		1.0
	500,000		3.125%, 11/20/25		549,475		1.1
			Perusahaan Penerbit SBSN Indonesia III
	300,000	g	3.750%, 03/01/23		315,924		0.6
			Other		1,967,887		3.9
					7,300,746		14.4
MUNICIPAL BONDS
			Grant County Public Utility District No 2
	600,000		1.544%, 01/01/23		613,172		1.2
			Metropolitan Transportation Authority
	500,000		5.175%, 11/15/49		619,346		1.2
			Mount Shasta Public Financing Authority
	875,000		2.625%–3.000%, 08/01/35–08/01/39		919,485		1.8
			Ohio Air Quality Development Authority
	500,000	g	4.500%, 01/15/48		555,058		1.1
			State of California
	500,000	i	0.899%, 04/01/47, LIBOR 1 M + 0.780%		500,451		1.0
			Warm Springs Reservation Confederated Tribe
	500,000	g	2.800%, 11/01/22		508,417		1.0
			Other		1,661,073		3.3
					5,377,002		10.6
		TOTAL GOVERNMENT BONDS (Cost $13,896,045)			14,173,393		27.9

STRUCTURED ASSETS

ASSET BACKED
			HERO Funding Trust
			Series - 2016 3A (Class A2)
	314,428	g	3.910%, 09/20/42		324,598		0.6
			Series - 2017 3A (Class A2)
	391,291	g	3.950%, 09/20/48		415,054		0.8
	869,471	g	2.720%–4.460%, 09/20/41–09/20/57		901,858		1.8
			Mosaic Solar Loan Trust
	688,568	g	1.440%–2.100%, 04/20/46–12/20/46		680,897		1.3
			Sunrun Atlas Issuer LLC
			Series - 2019 2 (Class A)
	484,198	g	3.610%, 02/01/55		511,051		1.0
			Sunrun Callisto Issuer LLC
			Series - 2019 1A (Class A)
	429,082	g	3.980%, 06/30/54		457,680		0.9
			Tesla Auto Lease Trust
	1,291,071	g	0.560%–3.710%, 08/20/21–03/20/25		1,304,115		2.6
			Vivint Colar Financing V LLC
			Series - 2018 1A (Class B)
	585,240	g	7.370%, 04/30/48		623,071		1.2
			Other		1,565,285		3.1
					6,783,609		13.3

Principal			Issuer	Value		% of net assets
OTHER MORTGAGE BACKED
			COMM Mortgage Trust
			Series - 2015 3BP (Class A)
$	500,000	g	3.178%, 02/10/35	$	530,755		1.0	%
			CPT Mortgage Trust
			Series - 2019 CPT (Class A)
	500,000	g	2.865%, 11/13/39		517,656		1.0
			Manhattan West
			Series - 2020 1MW (Class B)
	500,000	g,i	2.335%, 09/10/39		501,208		1.0
			Natixis Commercial Mortgage Securities Trust
			Series - 2019 MILE (Class D)
	500,000	g,i	2.856%, 07/15/36, LIBOR 1 M + 2.750%		499,999		1.0
			One Bryant Park Trust
			Series - 2019 OBP (Class A)
	500,000	g	2.516%, 09/15/54		504,698		1.0
			Other		1,258,132		2.5
					3,812,448		7.5
		TOTAL STRUCTURED ASSETS (Cost $10,386,374)			10,596,057		20.8

		TOTAL BONDS (Cost $46,653,986)			47,536,584		93.6

Shares			Company
PREFERRED STOCKS
REAL ESTATE					505,400		1.0
UTILITIES
	20,000		Brookfield Infrastructure Partners LP		511,600		1.0
	16,000		Brookfield Renewable Partners LP		417,120		0.8
					928,720		1.8
		TOTAL PREFERRED STOCKS (Cost $1,400,000)			1,434,120		2.8

Principal			Issuer
SHORT-TERM INVESTMENTS
GOVERNMENT AGENCY DEBT
			Federal Agricultural Mortgage Corp (FAMC)
$	1,312,000		0.010%, 04/01/21		1,312,000		2.6
					1,312,000		2.6
		TOTAL SHORT-TERM INVESTMENTS (Cost $1,312,000)			1,312,000		2.6
		TOTAL PORTFOLIO (Cost $49,862,324)			50,781,664		100.0
		OTHER ASSETS & LIABILITIES, NET			20,691		0.0
		NET ASSETS		$	50,802,355		100.0	%

2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

See notes to financial statements

Summary portfolio of investments	concluded

Green Bond Fund ■ March 31, 2021

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 3/31/21, the aggregate value of these securities, including those in “Other,” is $22,578,224 or 44.4% 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.

See notes to financial statements

TIAA-CREF Funds: Fixed-Income Funds ■ 2021 Annual Report

Summary portfolio of investments

High-Yield Fund ■ March 31, 2021

						% of net
Principal			Issuer	Value		assets
BANK LOAN OBLIGATIONS

AUTOMOBILES & COMPONENTS				$	9,702,479		0.3	%
CAPITAL GOODS					34,104,793		0.9
COMMERCIAL & PROFESSIONAL SERVICES
			West Corp
$	15,953,409	i	5.000%, 10/10/24, LIBOR 3 M + 4.000%		15,425,989		0.4
			Other		28,689,325		0.8
					44,115,314		1.2
CONSUMER SERVICES					12,134,181		0.3
ENERGY					4,260,145		0.1
FOOD, BEVERAGE & TOBACCO					14,732,818		0.4
HEALTH CARE EQUIPMENT & SERVICES
			RegionalCare Hospital Partners Holdings, Inc
	16,138,407	i	3.850%, 11/16/25, LIBOR 1 M + 3.750%		16,092,251		0.4
			Surgery Center Holdings, Inc
	19,773,001	i	4.250%, 09/03/24, LIBOR 1 M + 3.250%		19,559,848		0.5
			Other		32,129,504		0.9
					67,781,603		1.8
HOUSEHOLD & PERSONAL PRODUCTS					10,323,747		0.3
INSURANCE					24,466,978		0.6
MEDIA & ENTERTAINMENT					42,713,782		1.1
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES					23,926,938		0.6
REAL ESTATE					4,303,390		0.1
RETAILING					9,451,580		0.3
SOFTWARE & SERVICES					50,355,483		1.3
TELECOMMUNICATION SERVICES					24,643,382		0.7
		TOTAL BANK LOAN OBLIGATIONS (Cost $375,222,750)			377,016,613		10.0

BONDS

CORPORATE BONDS

AUTOMOBILES & COMPONENTS
			Adient Global Holdings Ltd
	14,950,000	g	4.875%, 08/15/26		15,452,021		0.4
			Gates Global LLC
	22,075,000	g	6.250%, 01/15/26		23,123,563		0.6
			Goodyear Tire & Rubber Co
	15,000,000		9.500%, 05/31/25		16,827,000		0.4
			IHO Verwaltungs GmbH
	19,800,000	g,o	6.375%, 05/15/29		21,631,500		0.6
			Other		94,570,492		2.5
					171,604,576		4.5
CAPITAL GOODS
			H&E Equipment Services, Inc
	18,519,000	g	3.875%, 12/15/28		18,009,727		0.5
			Other		87,770,141		2.3
					105,779,868		2.8

						% of net
Principal			Issuer	Value		assets
COMMERCIAL & PROFESSIONAL SERVICES
			Prime Security Services Borrower LLC
$	25,075,000	g	5.750%, 04/15/26	$	27,132,404		0.7	%
	18,100,000	g	6.250%, 01/15/28		18,841,919		0.5
			Other		126,758,504		3.3
					172,732,827		4.5
CONSUMER DURABLES & APPAREL					52,877,182		1.4
CONSUMER SERVICES
			Carnival Corp
	23,825,000	g	5.750%, 03/01/27		24,450,406		0.6
			Life Time, Inc
	16,300,000	g	5.750%, 01/15/26		16,769,440		0.4
			Live Nation Entertainment, Inc
	16,425,000	g	6.500%, 05/15/27		18,231,750		0.5
			Other		141,925,101		3.8
					201,376,697		5.3
DIVERSIFIED FINANCIALS
			Ford Motor Credit Co LLC
	25,400,000		4.063%, 11/01/24		26,645,870		0.7
			Icahn Enterprises LP
	15,375,000	g	4.375%, 02/01/29		15,024,604		0.4
			Quicken Loans, Inc
	14,350,000	g	5.250%, 01/15/28		15,067,500		0.4
			Other		140,576,790		3.7
					197,314,764		5.2
ENERGY
			Ferrellgas Escrow LLC
	20,285,000	g	5.375%, 04/01/26		20,149,091		0.5
	22,178,000	g	5.875%, 04/01/29		21,878,597		0.6
			Occidental Petroleum Corp
	17,875,000		6.375%, 09/01/28		19,619,689		0.5
	75,702,000		2.700%–8.875%, 08/15/22–09/15/36		84,648,361		2.1
			Range Resources Corp
	15,000,000		9.250%, 02/01/26		16,297,800		0.4
			Southwestern Energy Co
	14,250,000	e	7.500%, 04/01/26		15,076,785		0.4
			USA Compression Partners LP
	18,000,000		6.875%, 04/01/26		18,461,250		0.5
			Other		441,368,530		11.7
					637,500,103		16.7
FOOD & STAPLES RETAILING					24,077,768		0.6
FOOD, BEVERAGE & TOBACCO					44,110,272		1.2
HEALTH CARE EQUIPMENT & SERVICES
			DaVita, Inc
	17,815,000	g	4.625%, 06/01/30		18,150,991		0.5
			Global Medical Response, Inc
	15,000,000	g	6.500%, 10/01/25		15,525,000		0.4
			HCA, Inc
	21,350,000		5.375%, 02/01/25		23,816,245		0.6
			MPH Acquisition Holdings LLC
	22,250,000	e,g	5.750%, 11/01/28		21,693,750		0.6

2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

See notes to financial statements

Summary portfolio of investments

continued

High-Yield Fund ■ March 31, 2021

						% of net
Principal			Issuer	Value		assets
HEALTH CARE EQUIPMENT & SERVICES—continued
			Tenet Healthcare Corp
$	23,125,000		4.625%, 07/15/24	$	23,603,456		0.6	%
	27,050,000	g	6.125%, 10/01/28		28,233,438		0.8
			Other		131,778,685		3.5
					262,801,565		7.0
INSURANCE
			Acrisure LLC
	18,513,000	g	4.250%, 02/15/29		18,206,610		0.5
			Other		11,739,656		0.3
					29,946,266		0.8
MATERIALS
			Freeport-McMoRan, Inc
	14,250,000		5.450%, 03/15/43		17,142,750		0.5
			Nova Chemicals Corp
	30,000,000	g	4.875%, 06/01/24		31,350,000		0.8
			Other		229,283,246		6.0
					277,775,996		7.3
MEDIA & ENTERTAINMENT
			CCO Holdings LLC
	19,025,000	g	4.250%, 02/01/31		19,067,235		0.5
	20,800,000	g	4.500%, 05/01/32		21,060,000		0.6
			CSC Holdings LLC
	14,250,000	g	7.500%, 04/01/28		15,714,900		0.4
	17,600,000	g	4.625%, 12/01/30		17,311,624		0.5
			DISH DBS Corp
	17,400,000		7.375%, 07/01/28		18,253,470		0.5
			Other		243,683,751		6.4
					335,090,980		8.9
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES
			Horizon Pharma USA, Inc
	14,600,000	g	5.500%, 08/01/27		15,585,500		0.4
			VRX Escrow Corp
	15,100,000	g	6.125%, 04/15/25		15,480,520		0.4
			Other		51,480,766		1.4
					82,546,786		2.2
REAL ESTATE					99,552,229		2.6
RETAILING
			Staples, Inc
	15,000,000	g	7.500%, 04/15/26		15,821,250		0.4
	31,700,000	g	10.750%, 04/15/27		31,303,750		0.8
			Other		55,826,963		1.6
					102,951,963		2.8
SOFTWARE & SERVICES					60,535,569		1.6
TECHNOLOGY HARDWARE & EQUIPMENT
			CommScope Technologies LLC
	16,206,000	g	6.000%, 06/15/25		16,530,930		0.4
			Other		63,790,309		1.8
					80,321,239		2.2

						% of net
Principal			Issuer	Value		assets
TELECOMMUNICATION SERVICES
			Altice France S.A.
$	19,150,000	g	7.375%, 05/01/26	$	19,917,915		0.5	%
			Avaya, Inc
	20,775,000	g	6.125%, 09/15/28		22,054,013		0.6
			CenturyLink, Inc
	16,400,000		7.500%, 04/01/24		18,381,938		0.5
			Zayo Group Holdings, Inc
	16,600,000	g	4.000%, 03/01/27		16,309,500		0.4
			Other		76,932,731		2.0
					153,596,097		4.0
TRANSPORTATION
			Delta Air Lines, Inc
	14,206,000	g	7.000%, 05/01/25		16,364,708		0.4
			Other		43,680,899		1.2
					60,045,607		1.6
UTILITIES					58,900,813		1.6
		TOTAL CORPORATE BONDS (Cost $3,078,939,073)			3,211,439,167		84.8
		TOTAL BONDS (Cost $3,078,939,073)			3,211,439,167		84.8

	Shares		Company

COMMON STOCKS

ENERGY					80		0.0
		TOTAL COMMON STOCKS (Cost $0)			80		0.0

RIGHTS / WARRANTS

ENERGY					12,643		0.0
		TOTAL RIGHTS / WARRANTS (Cost $13,190,416)			12,643		0.0

	Principal		Issuer

SHORT-TERM INVESTMENTS

GOVERNMENT AGENCY DEBT
			Federal Home Loan Bank (FHLB)
$	18,856,000		0.025%, 05/07/21		18,855,812		0.5
	49,829,000		0.010%–0.085%, 04/08/21–06/23/21		49,828,375		1.3
			Other		11,353,000		0.3
					80,037,187		2.1
TREASURY DEBT
			United States Treasury Bill
	30,000,000		0.020%, 04/13/21		29,999,950		0.8
			Other		28,323,541		0.7
					58,323,491		1.5

See notes to financial statements

TIAA-CREF Funds: Fixed-Income Funds ■ 2021 Annual Report

Summary portfolio of investments

concluded

High-Yield Fund ■ March 31, 2021

						% of net
Shares			Company	Value		assets
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES
	40,248,079	c	State Street Navigator Securities Lending Government Money Market Portfolio 0.030%	$	40,248,079		1.1	%
					40,248,079		1.1

		TOTAL SHORT-TERM INVESTMENTS (Cost $178,607,317)			178,608,757		4.7

		TOTAL PORTFOLIO (Cost $3,645,959,556)			3,767,077,260		99.5
		OTHER ASSETS & LIABILITIES, NET			17,320,319		0.5

		NET ASSETS		$	3,784,397,579		100.0	%

Abbreviation(s):

LIBOR	London Interbank Offered Rate
M	Month

c	Investments made with cash collateral received from securities on loan.
e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $38,661,785. See Note 4 in the Notes to financial statements for additional information about securities lending collateral.
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 3/31/21, the aggregate value of these securities, including those in “Other,” is $2,146,635,558 or 56.7% 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.
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.

2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

See notes to financial statements

Portfolio of investments

Inflation-Linked Bond Fund ■ March 31, 2021

						% of net
Principal			Issuer	Value		assets
BONDS

GOVERNMENT BONDS

AGENCY SECURITIES
			HNA LLC
$	1,752,863		2.369%, 09/18/27	$	1,841,350		0.0	%
			Montefiore Medical Center
	8,925,000		2.895%, 04/20/32		9,676,472		0.3
			Private Export Funding Corp (PEFCO)
	3,000,000		3.250%, 06/15/25		3,264,884		0.1
			Reliance Industries Ltd
	3,289,474		2.444%, 01/15/26		3,438,081		0.1
					18,220,787		0.5

MORTGAGE BACKED
			Government National Mortgage Association (GNMA)
	10,654,323		3.600%, 09/15/31		11,343,773		0.3
	5,376,159		3.700%, 10/15/33		5,782,112		0.2
	1,558,432		3.380%, 07/15/35		1,655,503		0.1
	1,472,592		3.870%, 10/15/36		1,595,132		0.0
	5,340,691		3.940%, 03/15/37		5,776,167		0.2
	19,784,864		1.730%, 07/15/37		19,478,463		0.6
	22,349,586		4.250%, 09/15/38		24,334,507		0.7
	13,868,487		1.650%, 07/15/42		13,335,887		0.4
	13,551,397		2.750%, 01/15/45		14,207,591		0.4
					97,509,135		2.9

U.S. TREASURY SECURITIES
			United States Treasury Inflation Indexed Bonds
	116,983,162	k	0.125%, 04/15/22		120,305,301		3.5
	131,521,998	k	0.125%, 07/15/22		136,740,064		4.0
	132,590,867	k	0.125%, 01/15/23		139,054,671		4.1
	118,984,480	k	0.625%, 04/15/23		126,588,332		3.7
	125,312,620	k	0.375%, 07/15/23		134,155,482		3.9
	134,534,019	k	0.625%, 01/15/24		145,855,547		4.3
	106,704,173	k	0.500%, 04/15/24		115,660,098		3.4
	132,984,095	k	0.125%, 07/15/24		143,869,571		4.2
	84,101,325	k	0.125%, 10/15/24		90,967,409		2.7
	135,618,464	k	0.250%, 01/15/25		147,303,195		4.3
	105,944,229	k	2.375%, 01/15/25		124,101,663		3.6
	25,315,400	k	0.125%, 04/15/25		27,403,921		0.8
	120,409,108	k	0.375%, 07/15/25		132,644,428		3.9
	123,480,000	k	0.125%, 10/15/25		134,512,810		3.9
	119,742,913	k	0.625%, 01/15/26		133,145,388		3.9
	64,690,156	k	2.000%, 01/15/26		76,437,989		2.2
	96,161,287	k	0.125%, 07/15/26		105,087,508		3.1
	111,792,905	k	0.375%, 01/15/27		123,302,625		3.6
	45,727,511	k	2.375%, 01/15/27		55,984,048		1.6
	87,749,244	k	0.375%, 07/15/27		97,314,255		2.9
	128,405,963	k	0.500%, 01/15/28		143,000,437		4.2
	68,690,967	k	1.750%, 01/15/28		82,606,254		2.4
	53,103,290	k	3.625%, 04/15/28		71,492,379		2.1

							% of net
Principal			Issuer	Value			assets
U.S. TREASURY SECURITIES—continued
$	68,633,247	k	0.750%, 07/15/28	$	78,258,881			2.3	%
	84,315,748	k	0.875%, 01/15/29		96,679,862			2.8
	41,765,987	k	2.500%, 01/15/29		53,434,360			1.6
	70,898,842	k	3.875%, 04/15/29		99,503,478			2.9
	47,034,540	k	0.250%, 07/15/29		51,751,468			1.5
	55,911,350	k	0.125%, 01/15/30		60,494,188			1.8
	98,440,615	k	0.125%, 07/15/30		106,840,112			3.1
	35,165,550	k	0.125%, 01/15/31		37,851,960			1.1
	53,047,000	k	3.375%, 04/15/32		77,255,910			2.3
	10,045,900	k	0.125%, 02/15/51		10,113,788			0.3
					3,279,717,382			96.0
		TOTAL GOVERNMENT BONDS (Cost $3,132,389,144)			3,395,447,304			99.4
		TOTAL BONDS (Cost $3,132,389,144)			3,395,447,304			99.4

SHORT-TERM INVESTMENTS

GOVERNMENT AGENCY DEBT
			Federal Home Loan Bank (FHLB)
	9,860,000		0.005%, 04/13/21		9,860,000			0.3
	6,047,000		0.010%, 04/16/21		6,047,000			0.1
	7,495,000		0.010%, 05/12/21		7,494,915			0.2
					23,401,915			0.6

	Shares		Company

INVESTMENTS IN REGISTERED INVESTMENT COMPANIES
	713	c	State Street Navigator Securities Lending Government Money Market Portfolio 0.030%		713			0.0
					713			0.0

		TOTAL SHORT-TERM INVESTMENTS (Cost $23,402,591)			23,402,628			0.6
		TOTAL PORTFOLIO (Cost $3,155,791,735)			3,418,849,932			100.0
		OTHER ASSETS & LIABILITIES, NET			(1,375,162	)		(0.0	)

		NET ASSETS		$	3,417,474,770			100.0	%

c	Investments made with cash collateral received from securities on loan.
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.

Futures contracts outstanding as of March 31, 2021 were as follows:

	Number of							Unrealized
	long (short	)						appreciation
Description	contracts		Expiration date	Notional amount		Value		(depreciation	)
US Ultra Bond (CBT)	(50	)	06/21/21	$(9,412,010	)	$(9,060,938	)	$351,072

See notes to financial statements

TIAA-CREF Funds: Fixed-Income Funds ■ 2021 Annual Report

Summary portfolio of investments

Short Duration Impact Bond Fund ■ March 31, 2021

						% of net
Principal			Issuer	Value		assets
BANK LOAN OBLIGATIONS

UTILITIES
			Exgen Renewables IV LLC
$	498,750	i	3.750%, 12/15/27, LIBOR 3 M + 2.750%	$	498,960		1.5	%
					498,960		1.5
		TOTAL BANK LOAN OBLIGATIONS (Cost $496,338)			498,960		1.5

BONDS

CORPORATE BONDS

AUTOMOBILES & COMPONENTS
			Hyundai Capital Services, Inc
	350,000	g	1.250%, 02/08/26		341,329		1.0
					341,329		1.0
BANKS
			Citigroup, Inc
	250,000		1.678%, 05/15/24		255,093		0.8
	500,000	i	1.452%, 07/01/26, LIBOR 3 M + 1.250%		511,940		1.5
			HSBC Holdings plc
	500,000		3.033%, 11/22/23		520,033		1.6
			Lloyds Banking Group plc
	250,000		4.500%, 11/04/24		277,888		0.8
			Royal Bank of Scotland Group plc
	250,000		2.359%, 05/22/24		257,932		0.8
			USAA Capital Corp
	400,000	g	1.500%, 05/01/23		408,637		1.2
			Other		975,244		3.0
					3,206,767		9.7
CAPITAL GOODS
			CNH Industrial Capital LLC
	500,000		1.950%, 07/02/23		513,438		1.5
			Other		500,747		1.6
					1,014,185		3.1
CONSUMER SERVICES
			Nature Conservancy
	550,000		0.467%, 07/01/23		549,502		1.6
	260,000	i	1.285%, 02/01/24, LIBOR 3 M + 1.080%		260,801		0.8
					810,303		2.4
DIVERSIFIED FINANCIALS
			NongHyup Bank
	260,000	g	1.250%, 07/20/25		258,321		0.8
			Reinvestment Fund, Inc
	250,000		3.477%, 02/15/23		254,248		0.8
			WLB Asset II Pte Ltd
	250,000	g	4.000%, 01/14/24		256,324		0.8
			Other		1,120,693		3.4
					1,889,586		5.8
ENERGY
			Aker BP ASA
	250,000	g	2.875%, 01/15/26		258,183		0.8
			Other		423,479		1.3
					681,662		2.1

						% of net
Principal			Issuer	Value		assets
MATERIALS				$	250,087		0.8	%
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES
			AbbVie, Inc
$	500,000	i	0.832%, 11/21/22, LIBOR 3 M + 0.650%		503,071		1.5
			Roche Holdings, Inc
	1,075,000	g,i	0.251%, 03/05/24, SOFR + 0.240%		1,075,745		3.3
					1,578,816		4.8
REAL ESTATE
			Federal Realty Investment Trust
	300,000		1.250%, 02/15/26		296,226		0.9
			Other		103,250		0.3
					399,476		1.2
TELECOMMUNICATION SERVICES					251,446		0.8
TRANSPORTATION
			Delta Air Lines, Inc
	286,446		2.500%, 06/10/28		290,246		0.9
			Other		242,888		0.7
					533,134		1.6
UTILITIES
			AES Corp
	300,000	g	1.375%, 01/15/26		292,393		0.9
			Avangrid, Inc
	300,000		3.200%, 04/15/25		321,195		1.0
			Azure Power Energy Ltd
	250,000	g	5.500%, 11/03/22		255,001		0.7
			CenterPoint Energy Resources Corp
	600,000	i	0.684%, 03/02/23, LIBOR 3 M + 0.500%		600,170		1.8
			Hanwha Energy USA Holdings Corp
	250,000	g	2.375%, 07/30/22		255,791		0.8
			Korea Hydro & Nuclear Power Co Ltd
	300,000	g	3.750%, 07/25/23		321,533		1.0
			National Fuel Gas Co
	300,000		5.500%, 01/15/26		342,853		1.0
			Other		500,652		1.5
					2,889,588		8.7
		TOTAL CORPORATE BONDS (Cost $13,655,390)			13,846,379		42.0

GOVERNMENT BONDS

AGENCY SECURITIES
			Federal Home Loan Mortgage Corp (FHLMC)
	250,000		1.500%, 02/12/25		258,439		0.8
			Federal National Mortgage Association (FNMA)
	500,000		0.250%, 07/10/23		500,382		1.5
			Overseas Private Investment Corp (OPIC)
	245,058		1.790%, 10/15/29		257,745		0.8
			US Department of Housing and Urban Development (HUD)
	250,000		2.618%, 08/01/23		263,183		0.8
			Other		949,699		2.8
					2,229,448		6.7

2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

See notes to financial statements

Summary portfolio of investments

concluded

Short Duration Impact Bond Fund ■ March 31, 2021

						% of net
Principal			Issuer		Value	assets
FOREIGN GOVERNMENT BONDS
			European Stability Mechanism
$	500,000	g	1.375%, 09/11/24	$	513,469	1.6	%
			International Development Association
	500,000	g	2.750%, 04/24/23		525,400	1.6
			Nederlandse Waterschapsbank NV
	250,000	g	1.750%, 01/15/25		259,754	0.8
			Perusahaan Penerbit SBSN Indonesia III
	500,000	g	3.750%, 03/01/23		526,540	1.6
			Other		735,410	2.2
					2,560,573	7.8
MORTGAGE BACKED					160,653	0.5
MUNICIPAL BONDS
			City of Detroit MI
	400,000		1.817%, 04/01/22		399,910	1.2
			New York State Energy Research & Development Authority
	330,000		1.624%, 10/01/22		331,182	1.0
			Sustainable Energy Utility, Inc
	425,000		1.550%, 09/15/21		425,692	1.3
			Other		1,517,745	4.6
					2,674,529	8.1
U.S. TREASURY SECURITIES
			United States Treasury Note
	285,000		1.625%, 12/31/21		288,318	0.9
	860,000		0.125%, 06/30/22		860,202	2.6
	835,000		0.125%, 10/31/22		834,902	2.5
	1,500,000		2.625%, 12/31/23		1,595,566	4.8
	495,000		0.250%, 03/15/24		493,685	1.5
			Other		251,426	0.8
					4,324,099	13.1
		TOTAL GOVERNMENT BONDS (Cost $11,710,816)			11,949,302	36.2

STRUCTURED ASSETS
ASSET BACKED
			HERO Funding Trust
			Series - 2016 3A (Class A2)
	314,428	g	3.910%, 09/20/42		324,598	1.0
	413,173	g	2.720%–4.050%, 09/20/41–09/20/57		424,959	1.3
			Mosaic Solar Loan Trust
			Series - 2020 2A (Class A)
	462,271	g	1.440%, 08/20/46		450,313	1.4
			Sunrun Atlas Issuer LLC
			Series - 2019 2 (Class A)
	484,198	g	3.610%, 02/01/55		511,051	1.5
			Sunrun Callisto Issuer LLC
			Series - 2019 1A (Class A)
	429,082	g	3.980%, 06/30/54		457,680	1.4
			Tesla Auto Lease Trust
			Series-2019 A (Class A4)
	250,000	g	2.200%, 11/21/22		255,984	0.8
	421,463	g	0.560%–3.710%, 08/20/21–03/20/25		422,227	1.3

						% of net
Principal			Issuer		Value	assets
ASSET BACKED—continued
			Vivint Colar Financing V LLC
			Series - 2018 1A (Class B)
$	585,240	g	7.370%, 04/30/48	$	623,071	1.9	%
			Other		484,448	1.4
					3,954,331	12.0
OTHER MORTGAGE BACKED
			Natixis Commercial Mortgage Securities Trust
	500,000	g,i	1.606%–4.356%, 07/15/36–07/15/36, LIBOR 1 M + 1.500%–LIBOR 1 M + 4.250%		496,817	1.5
			Other		803,664	2.4
					1,300,481	3.9

		TOTAL STRUCTURED ASSETS (Cost $5,175,934)			5,254,812	15.9
		TOTAL BONDS (Cost $30,542,140)			31,050,493	94.1

SHORT-TERM INVESTMENTS

GOVERNMENT AGENCY DEBT
			Federal Farm Credit Bank (FFCB)
	462,000		0.010%, 04/01/21		462,000	1.4
			Tennessee Valley Authority (TVA)
	879,000		0.010%, 04/07/21		879,000	2.7
					1,341,000	4.1
		TOTAL SHORT-TERM INVESTMENTS (Cost $1,340,998)			1,341,000	4.1
		TOTAL PORTFOLIO (Cost $32,379,476)			32,890,453	99.7
		OTHER ASSETS & LIABILITIES, NET			106,038	0.3

		NET ASSETS		$	32,996,491	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 3/31/21, the aggregate value of these securities, including those in “Other,” is $11,985,202 or 36.3% 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.

See notes to financial statements

TIAA-CREF Funds: Fixed-Income Funds ■ 2021 Annual Report

Summary portfolio of investments

Short-Term Bond Fund ■ March 31, 2021

Principal			Issuer	Value		% of net assets
BANK LOAN OBLIGATIONS

CAPITAL GOODS				$	2,019,429		0.1	%
COMMERCIAL & PROFESSIONAL SERVICES					322,305		0.0
CONSUMER SERVICES					6,132,360		0.3
DIVERSIFIED FINANCIALS					724,319		0.0
HEALTH CARE EQUIPMENT & SERVICES					1,574,552		0.1
HOUSEHOLD & PERSONAL PRODUCTS					994,580		0.0
MATERIALS					483,540		0.0
MEDIA & ENTERTAINMENT					8,318,374		0.4
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES					5,650,488		0.3
SOFTWARE & SERVICES					3,832,741		0.2
TECHNOLOGY HARDWARE & EQUIPMENT					3,274,593		0.2
TRANSPORTATION					1,775,190		0.1
UTILITIES					561,093		0.0

		TOTAL BANK LOAN OBLIGATIONS (Cost $35,830,164)			35,663,564		1.7
BONDS

CORPORATE BONDS

BANKS
			Bank of America Corp
$	10,000,000		3.550%, 03/05/24		10,550,742		0.5
	10,000,000		1.486%, 05/19/24		10,165,088		0.5
			Citigroup, Inc
	9,000,000		2.876%, 07/24/23		9,270,504		0.4
	15,000,000		1.678%, 05/15/24		15,305,550		0.7
			Dexia Credit Local S.A.
	10,000,000	g	2.875%, 01/29/22		10,213,138		0.5
			JPMorgan Chase & Co
	10,000,000		2.776%, 04/25/23		10,240,558		0.5
	12,000,000		1.514%, 06/01/24		12,249,030		0.6
			Other		152,181,971		7.0
					230,176,581		10.7
CAPITAL GOODS					28,877,621		1.3
COMMERCIAL & PROFESSIONAL SERVICES					5,292,330		0.2
CONSUMER DURABLES & APPAREL					1,589,340		0.1
CONSUMER SERVICES					2,138,780		0.1
DIVERSIFIED FINANCIALS
			Federation des Caisses Desjardins du Quebec
	16,800,000	g	1.950%, 09/26/22		17,199,645		0.8
			Other		109,902,590		5.0
					127,102,235		5.8
ENERGY					58,203,395		2.7
FOOD & STAPLES RETAILING					5,174,211		0.2
FOOD, BEVERAGE & TOBACCO					19,509,820		0.8

Principal			Issuer	Value		% of net assets
HEALTH CARE EQUIPMENT & SERVICES
			SBA Tower Trust
$	13,365,000	g	1.884%, 01/15/26	$	13,525,921		0.6	%
			Other		7,592,953		0.4
					21,118,874		1.0
INSURANCE					7,985,317		0.4
MATERIALS					37,477,404		1.8
MEDIA & ENTERTAINMENT					13,706,797		0.6
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES
			AbbVie, Inc
	18,000,000		2.300%, 11/21/22		18,521,932		0.9
			Other		28,451,043		1.3
					46,972,975		2.2
REAL ESTATE					30,514,338		1.4
RETAILING					1,681,149		0.1
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT					3,542,688		0.2
SOFTWARE & SERVICES					17,541,897		0.8
TECHNOLOGY HARDWARE & EQUIPMENT					1,889,816		0.1
TELECOMMUNICATION SERVICES					24,011,658		1.1
TRANSPORTATION					3,338,246		0.2
UTILITIES
			Xcel Energy, Inc
	13,950,000		0.500%, 10/15/23		13,936,575		0.7
			Other		41,635,153		1.8
					55,571,728		2.5
		TOTAL CORPORATE BONDS (Cost $733,072,009)			743,417,200		34.3

GOVERNMENT BONDS

AGENCY SECURITIES
			Federal Home Loan Mortgage Corp (FHLMC)
	16,250,000		0.250%, 09/08/23		16,246,862		0.8
			Federal National Mortgage Association (FNMA)
	15,000,000		0.250%, 07/10/23		15,011,453		0.7
	10,500,000		0.250%, 11/27/23		10,488,122		0.5
	10,000,000		0.500%, 06/17/25		9,904,200		0.5
			Other		44,452,064		2.0
					96,102,701		4.5
FOREIGN GOVERNMENT BONDS
			CDP Financial, Inc
	10,000,000	g	0.875%, 06/10/25		10,009,032		0.5
			International Development Association
	8,900,000	g	2.750%, 04/24/23		9,352,120		0.4
			Kommunalbanken AS.
	10,000,000	g	0.375%, 09/11/25		9,747,700		0.4
			Landwirtschaftliche Rentenbank
	16,000,000		0.875%, 09/03/30		14,694,470		0.7
			Mexico Government International Bond
	10,000,000		2.659%, 05/24/31		9,430,800		0.4

2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

See notes to financial statements

Summary portfolio of investments

continued

Short-Term Bond Fund ■ March 31, 2021

Principal			Issuer	Value		% of net assets
FOREIGN GOVERNMENT BONDS—continued
			Ontario Teachers’ Finance Trust
$	15,000,000	g	1.625%, 09/12/24	$	15,485,188		0.7	%
			Province of British Columbia Canada
	10,400,000		1.300%, 01/29/31		9,783,917		0.5
			Other		161,240,999		7.5
					239,744,226		11.1
MORTGAGE BACKED
			Government National Mortgage Association (GNMA)
	19,784,864		1.730%, 07/15/37		19,478,463		0.9
	22,349,586		4.250%, 09/15/38		24,334,506		1.1
			Other		1,792		0.0
					43,814,761		2.0
MUNICIPAL BONDS
			City of New York NY
	19,755,000		2.280%, 08/01/25		20,805,172		1.0
			Massachusetts Water Resources Authority
	10,000,000		2.083%, 08/01/25		10,531,065		0.5
			Other		11,509,735		0.5
					42,845,972		2.0
U.S. TREASURY SECURITIES
			United States Treasury Inflation Indexed Bonds
	11,331,100	k	0.125%, 01/15/23		11,883,491		0.5
	11,209,300	k	0.625%, 01/15/24		12,152,603		0.6
			United States Treasury Note
	59,505,000		1.500%, 09/30/21		59,937,341		2.8
	27,750,000		1.625%, 12/31/21		28,073,027		1.3
	21,290,000		0.125%, 06/30/22		21,294,990		1.0
	27,700,000		0.125%, 10/31/22		27,696,754		1.3
	185,299,000		0.250%, 03/15/24		184,806,800		8.6
			Other		799,625		0.0
					346,644,631		16.1

		TOTAL GOVERNMENT BONDS (Cost $763,277,209)			769,152,291		35.7

STRUCTURED ASSETS

ASSET BACKED
			CF Hippolyta LLC
			Series - 2020 1 (Class A1)
	10,164,135	g	1.690%, 07/15/60		10,240,121		0.5
			Domino’s Pizza Master Issuer LLC
			Series - 2017 1A (Class A2II)
	14,550,000	g	3.082%, 07/25/47		14,573,134		0.7
			TES LLC
			Series - 2017 1A (Class A)
	8,964,201	g	4.330%, 10/20/47		9,317,756		0.4
			Verizon Owner Trust
			Series - 2018 A (Class B)
	10,905,000		3.380%, 04/20/23		11,154,987		0.5
			Series - 2019 A (Class B)
	9,000,000		3.020%, 09/20/23		9,304,678		0.4

Principal			Issuer	Value		% of net assets
ASSET BACKED—continued
			Series - 2020 B (Class B)
$	17,500,000		0.680%, 02/20/25	$	17,489,902		0.8	%
			Other		178,289,039		8.3
					250,369,617		11.6
OTHER MORTGAGE BACKED
			Connecticut Avenue Securities
			Series - 2017 C02 (Class 2ED3)
	10,010,797	i	1.459%, 09/25/29, LIBOR 1 M + 1.350%		10,025,779		0.5
			Series - 2017 C05 (Class 1M2)
	11,560,020	i	2.309%, 01/25/30, LIBOR 1 M + 2.200%		11,672,209		0.5
			GS Mortgage Securities Trust
			Series - 2019 GC40 (Class DBB)
	9,000,000	g,i	3.501%, 07/10/52		9,421,447		0.4
			Structured Agency Credit Risk Debt Note (STACR)
			Series - 2020 DNA4 (Class M2AR)
	18,500,000	g,i	1.609%, 08/25/50, LIBOR 1 M + 1.500%		18,526,068		0.9
	21,258,950	g,i	1.209%–3.359%, 07/25/29–07/27/50,
			LIBOR 1 M + 1.100%–LIBOR 1 M + 3.250%		21,481,799		1.1
			Other		174,328,313		8.0
					245,455,615		11.4
		TOTAL STRUCTURED ASSETS (Cost $495,336,995)			495,825,232		23.0

		TOTAL BONDS (Cost $1,991,686,213)			2,008,394,723		93.0

SHORT-TERM INVESTMENTS

GOVERNMENT AGENCY DEBT
			Federal Home Loan Bank (FHLB)
	20,533,000		0.035%, 04/09/21		20,533,000		0.9
	10,000,000		0.010%, 04/14/21		10,000,000		0.5
	10,000,000		0.004%, 04/21/21		10,000,000		0.5
	10,000,000		0.010%, 04/23/21		10,000,000		0.5
	15,000,000		0.010%, 05/03/21		14,999,867		0.7
	14,148,000		0.005%, 05/05/21		14,147,866		0.6
	16,748,000		0.035%, 05/28/21		16,747,735		0.8
			Other		8,935,000		0.4
					105,363,468		4.9
TREASURY DEBT					2,483,937		0.1

Shares			Company
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES
	1,300,874	c	State Street Navigator Securities Lending Government Money Market Portfolio 0.030%		1,300,874		0.0
					1,300,874		0.0

		TOTAL SHORT-TERM INVESTMENTS (Cost $109,147,356)			109,148,279		5.0

		TOTAL PORTFOLIO (Cost $2,136,663,733)			2,153,206,566		99.7
		OTHER ASSETS & LIABILITIES, NET			6,279,541		0.3

		NET ASSETS		$	2,159,486,107		100.0	%

See notes to financial statements

TIAA-CREF Funds: Fixed-Income Funds ■ 2021 Annual Report

Summary portfolio of investments

concluded

Short-Term Bond Fund ■ March 31, 2021

Abbreviation(s):

LIBOR	London Interbank Offered Rate
M	Month

c	Investments made with cash collateral received from securities on loan.
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 3/31/21, the aggregate value of these securities, including those in “Other,” is $688,453,335 or 31.9% of net assets.
k	Principal amount for interest accrual purposes is periodically adjusted based on changes in the Consumer Price Index.
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.

At 3/31/21, the aggregate value of securities on loan is $1,271,445. See Note 4 in the Notes to financial statements for additional information about securities lending collateral.

“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.

Futures contracts outstanding as of March 31, 2021 were as follows:

Description	Number of long (short) contracts			Expiration date	Notional amount			Value			Unrealized appreciation (depreciation)
US Long Bond (CBT)		(40	)	06/21/21	$	(6,399,587	)	$	(6,183,750	)	$	215,837
US 10 Year Note (CBT)		(476	)	06/21/21		(63,916,923	)		(62,326,250	)		1,590,673
Total		(516	)		$	(70,316,510	)	$	(68,510,000	)	$	1,806,510

2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

See notes to financial statements

Summary portfolio of investments

Short-Term Bond Index Fund ■ March 31, 2021

Principal			Issuer	Value		% of net assets
BONDS

CORPORATE BONDS

AUTOMOBILES & COMPONENTS				$	972,818		0.1	%
BANKS					71,332,026		6.7
CAPITAL GOODS					15,997,146		1.5
COMMERCIAL & PROFESSIONAL SERVICES					1,091,780		0.1
CONSUMER DURABLES & APPAREL					1,189,666		0.1
CONSUMER SERVICES					1,918,115		0.2
DIVERSIFIED FINANCIALS					43,861,326		4.0
ENERGY					18,837,269		1.8
FOOD & STAPLES RETAILING					1,512,164		0.1
FOOD, BEVERAGE & TOBACCO					9,651,801		0.9
HEALTH CARE EQUIPMENT & SERVICES					8,089,618		0.7
HOUSEHOLD & PERSONAL PRODUCTS					977,328		0.1
INSURANCE					3,035,578		0.3
MATERIALS					3,102,135		0.2
MEDIA & ENTERTAINMENT					4,354,359		0.5
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES					13,038,103		1.2
REAL ESTATE					3,715,092		0.4
RETAILING					3,956,556		0.3
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT					1,570,585		0.2
SOFTWARE & SERVICES					10,224,651		1.0
TECHNOLOGY HARDWARE & EQUIPMENT					5,378,520		0.6
TELECOMMUNICATION SERVICES					5,788,380		0.5
TRANSPORTATION					3,700,861		0.4
UTILITIES					17,834,770		1.6

		TOTAL CORPORATE BONDS (Cost $248,579,329)			251,130,647		23.5

GOVERNMENT BONDS
			AGENCY SECURITIES
			Federal Farm Credit Banks Funding Corp
$	4,000,000		0.125%, 02/03/23		3,998,056		0.4
			Federal Home Loan Bank (FHLB)
	3,000,000		3.000%, 10/12/21		3,046,847		0.3
			Federal Home Loan Mortgage Corp (FHLMC)
	2,500,000		0.375%, 04/20/23		2,509,498		0.2
			Federal National Mortgage Association (FNMA)
	4,500,000		0.250%, 05/22/23		4,505,661		0.4
			Other		18,503,625		1.8
					32,563,687		3.1
FOREIGN GOVERNMENT BONDS
			Asian Development Bank
	2,500,000		1.875%, 07/19/22		2,554,433		0.2

Principal			Issuer	Value		% of net assets
FOREIGN GOVERNMENT BONDS—continued
			European Investment Bank
$	2,750,000		1.375%, 09/06/22	$	2,795,875		0.3	%
	3,707,000		1.375%, 05/15/23		3,794,849		0.4
			Kreditanstalt fuer Wiederaufbau
	2,000,000		1.750%, 08/22/22		2,043,040		0.2
	5,100,000		1.625%, 02/15/23		5,233,671		0.5
			Other		57,120,261		5.3
					73,542,129		6.9
MUNICIPAL BONDS					284,170		0.0

U.S. TREASURY SECURITIES
			United States Treasury Note
	10,000,000		2.375%, 03/15/22		10,219,531		1.0
	4,750,000		0.375%, 03/31/22		4,764,102		0.4
	12,000,000		2.250%, 04/15/22		12,270,000		1.2
	24,000,000		0.125%, 04/30/22		24,009,375		2.3
	18,000,000		2.125%, 05/15/22		18,407,813		1.7
	7,000,000		0.125%, 05/31/22		7,001,914		0.7
	14,000,000		1.750%, 06/15/22		14,276,719		1.3
	18,500,000		0.125%, 06/30/22		18,504,336		1.7
	20,000,000		1.750%, 07/15/22		20,422,656		1.9
	7,800,000		0.125%, 07/31/22		7,800,609		0.7
	13,000,000		1.500%, 08/15/22		13,246,289		1.2
	28,500,000		0.125%, 08/31/22		28,500,000		2.7
	10,000,000		1.500%, 09/15/22		10,198,828		1.0
	14,000,000		0.125%, 09/30/22		13,998,906		1.3
	17,400,000		1.375%, 10/15/22		17,729,648		1.7
	9,250,000		0.125%, 10/31/22		9,248,916		0.9
	20,000,000		1.625%, 11/15/22		20,478,906		1.9
	27,250,000		0.125%, 11/30/22		27,244,678		2.6
	23,000,000		1.625%, 12/15/22		23,580,391		2.2
	8,000,000		0.125%, 12/31/22		7,996,562		0.7
	22,000,000		1.500%, 01/15/23		22,528,516		2.1
	7,000,000		0.125%, 01/31/23		6,996,719		0.7
	12,000,000		1.375%, 02/15/23		12,273,281		1.2
	23,000,000		0.125%, 02/28/23		22,985,625		2.2
	3,750,000		0.125%, 03/31/23		3,747,510		0.4
	21,500,000		0.250%, 04/15/23		21,531,074		2.0
	21,500,000		0.125%, 05/15/23		21,471,445		2.0
	18,000,000		0.250%, 06/15/23		18,020,391		1.7
	17,600,000		0.125%, 07/15/23		17,565,625		1.6
	16,500,000		0.125%, 08/15/23		16,461,973		1.5
	6,750,000		0.125%, 09/15/23		6,731,543		0.6
	33,750,000		0.125%, 10/15/23		33,639,258		3.2
	46,250,000		0.250%, 11/15/23		46,226,514		4.3
	33,250,000		0.125%, 12/15/23		33,103,233		3.1
	16,600,000		0.125%, 01/15/24		16,517,000		1.5
	48,243,000	e	0.125%, 02/15/24		47,982,940		4.5
	35,000,000		0.250%, 03/15/24		34,907,031		3.3
	5,000,000		0.250%, 08/31/25		4,883,594		0.5
	4,000,000		0.250%, 09/30/25		3,901,406		0.4
			Other		1,535,996		0.1
					702,910,853		66.0

		TOTAL GOVERNMENT BONDS (Cost $805,115,297)			809,300,839		76.0

		TOTAL BONDS (Cost $1,053,694,626)			1,060,431,486		99.5

See notes to financial statements

TIAA-CREF Funds: Fixed-Income Funds ■ 2021 Annual Report

Summary portfolio of investments

concluded

Short-Term Bond Index Fund ■ March 31, 2021

Principal			Issuer	Value			% of net assets
SHORT-TERM INVESTMENTS
GOVERNMENT AGENCY DEBT
			Federal Agricultural Mortgage Corp (FAMC)
$	6,750,000		0.010%, 04/01/21	$	6,750,000			0.6	%
					6,750,000			0.6

	Shares		Company

INVESTMENTS IN REGISTERED INVESTMENT COMPANIES
	48,683,289	c	State Street Navigator Securities Lending Government Money Market Portfolio 0.030%		48,683,289			4.6
					48,683,289			4.6
		TOTAL SHORT-TERM INVESTMENTS (Cost $55,433,289)			55,433,289			5.2
		TOTAL PORTFOLIO (Cost $1,109,127,915)			1,115,864,775			104.7
		OTHER ASSETS & LIABILITIES, NET			(50,038,183	)		(4.7	)

		NET ASSETS		$	1,065,826,592			100.0	%

c	Investments made with cash collateral received from securities on loan.
e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $47,703,659. See Note 4 in the Notes to financial statements for additional information about securities lending collateral.

“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.

2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

See notes to financial statements

Summary portfolio of investments

Money Market Fund ■ March 31, 2021

Principal			Issuer	Value		% of net assets
SHORT-TERM INVESTMENTS

GOVERNMENT AGENCY DEBT
			Federal Home Loan Bank (FHLB)
$	40,816,000		0.010%, 04/07/21	$	40,815,423		2.9	%
	26,028,000		0.010%, 04/21/21		26,026,771		1.8
	23,000,000		0.010%, 04/28/21		22,999,655		1.6
	21,200,000		0.010%, 05/04/21		21,198,737		1.5
	39,000,000		0.010%, 05/05/21		38,997,790		2.7
	11,000,000		0.010%, 05/10/21		10,999,643		0.8
	11,753,000		0.010%, 05/26/21		11,752,188		0.8
	13,000,000		0.040%, 05/26/21		12,999,891		0.9
	24,293,000		0.010%, 06/02/21		24,291,559		1.7
	11,500,000		0.010%, 06/07/21		11,499,037		0.8
	11,500,000		0.045%, 06/07/21		11,499,927		0.8
	13,500,000		0.045%, 06/08/21		13,499,976		0.9
	15,504,000		0.010%, 06/11/21		15,503,236		1.1
	13,000,000		0.045%, 06/15/21		12,999,907		0.9
	26,900,000		0.010%, 06/18/21		26,899,092		1.9
	18,180,000		0.010%, 06/22/21		18,179,586		1.3
	13,500,000		0.050%, 07/12/21		13,499,779		0.9
	28,000,000		0.040%, 09/29/21		27,999,169		2.0
	88,332,000		0.010%–0.090%, 04/08/21–09/17/21		88,326,780		6.2
			Other		10,230,220		0.7
					460,218,366		32.2
TREASURY DEBT
			United States Cash Management Bill
	18,513,000		0.010%, 06/08/21		18,509,999		1.3
	13,533,000		0.010%, 06/22/21		13,530,712		0.9
	16,000,000		0.010%, 07/06/21		15,997,393		1.1
	66,721,000		0.010%, 07/20/21		66,716,691		4.7
	14,500,000		0.010%, 07/27/21		14,498,603		1.0
	14,099,000		0.020%, 06/15/21–06/29/21		14,096,564		1.0
			United States Treasury Bill
	38,270,000		0.010%, 04/01/21		38,270,000		2.7
	26,892,000		0.010%, 04/06/21		26,891,768		1.9
	43,483,000		0.010%, 04/08/21		43,482,310		3.0
	11,668,000		0.010%, 04/13/21		11,667,765		0.8
	36,521,000		0.010%, 04/22/21		36,518,977		2.6
	42,395,000		0.010%, 04/27/21		42,392,346		3.0
	44,382,000		0.010%, 05/06/21		44,379,080		3.1
	15,117,000		0.010%, 05/13/21		15,115,998		1.1
	48,184,000		0.010%, 05/18/21		48,182,064		3.4
	13,000,000		0.010%, 05/25/21		12,999,426		0.9
	14,905,000		0.010%, 06/01/21		14,903,990		1.0
	26,002,000		0.010%, 06/03/21		26,000,112		1.8
	11,500,000		0.010%, 06/17/21		11,498,356		0.8
	16,172,000		0.010%, 07/29/21		16,167,907		1.1
	16,008,000		0.010%, 08/05/21		16,004,355		1.1
	68,297,000		0.110%, 04/15/21-09/23/21		68,289,628		4.8
					616,114,044		43.1

VARIABLE RATE SECURITIES
			Federal Farm Credit Bank (FFCB)
	25,000,000	i	0.300%, 04/23/21, SOFR + 0.290%		25,000,000		1.7
	11,000,000	i	0.050%, 08/04/21, SOFR + 0.040%		11,000,000		0.8
	14,000,000	i	0.050%, 06/01/22, SOFR + 0.040%		13,999,587		1.0
	14,000,000	i	0.055%, 09/08/22, SOFR + 0.045%		13,998,982		1.0
	36,275,000	i	0.065%–0.200%, 10/15/21–10/21/22,
			SOFR + 0.055%–SOFR + 0.190%		36,275,000		2.5

Principal			Issuer	Value			% of net assets
VARIABLE RATE SECURITIES—continued
			Federal Home Loan Bank (FHLB)
$	47,500,000	i	0.240%, 04/13/21, SOFR + 0.230%	$	47,500,000			3.3	%
	11,000,000	i	0.080%, 04/21/21, SOFR + 0.070%		11,000,000			0.8
	25,000,000	i	0.110%, 07/09/21, SOFR + 0.100%		25,000,000			1.7
	25,000,000	i	0.130%, 10/13/21, SOFR + 0.120%		25,000,000			1.7
	15,000,000	i	0.090%, 02/22/22, SOFR + 0.080%		15,000,000			1.0
	11,000,000	i	0.070%, 12/08/22, SOFR + 0.060%		11,000,000			0.8
	55,325,000	i	0.055%–0.100%, 05/14/21–10/05/22,
			SOFR + 0.045%–SOFR + 0.090%		55,325,000			4.0
			Federal Home Loan Mortgage Corp (FHLMC)
	20,000,000	i	0.105%–0.250%, 07/23/21–08/19/22,
			SOFR + 0.095%–SOFR + 0.240%		20,000,000			1.4
			Federal National Mortgage Association (FNMA)
	15,000,000	i	0.200%, 04/05/21, SOFR + 0.190%		15,000,000			1.0
	20,000,000	i	0.290%, 04/26/21, SOFR + 0.280%		20,000,000			1.4
			Other		10,000,000			0.7
					355,098,569			24.8

		TOTAL SHORT-TERM INVESTMENTS (Cost $1,431,430,979)			1,431,430,979			100.1

		TOTAL PORTFOLIO (Cost $1,431,430,979)			1,431,430,979			100.1
		OTHER ASSETS & LIABILITIES, NET			(1,687,037	)		(0.1	)

		NET ASSETS		$	1,429,743,942			100.0	%

Abbreviation(s):

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.

See notes to financial statements

TIAA-CREF Funds: Fixed-Income Funds ■ 2021 Annual Report

Statements of assets and liabilities

TIAA-CREF Funds ■ March 31, 2021

		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*^†		$	19,863,487,411		$	9,973,246,942	$	7,096,780,815	$	6,183,572,716	$	273,283,443	$	50,781,664	$	3,767,077,260		$	3,418,849,932	$	32,890,453	$	2,153,206,566	$	1,115,864,775	$	1,431,430,979
Cash^§#			2,774,260			50,264,325		23,643,184		34,699,640		5,641,660		312		4,013,102			107,303		92		—		1,137,824		58
Receivable from securities transactions			35,306,487			8,765,752		97,372,692		47,493,984		—		15,493		53,615,591			—		—		316,452		21,050,500		—
Receivable for delayed delivery securities			—			547,486,055		360,700,268		337,505,166		—		—		—			—		250,430		26,735,403		—		—
Receivable from Fund shares sold			142,820,783			60,076,740		11,677,559		45,536,653		10,601		9,723		51,546,675			14,799,518		13,908		9,797,308		11,099,698		457,339
Dividends and interest receivable			90,119,056			44,156,871		30,890,977		32,693,399		3,188,795		319,096		49,412,747			7,028,530		146,278		6,813,255		2,929,525		220,503
Due from affiliates			773,589			1,176,497		—		721,816		3,956		27,222		186,982			364,500		25,789		175,247		78,269		213,466
Receivable for variation margin on open futures contracts			—			—		—		—		—		—		—			351,172		—		1,807,542		—		—
Unrealized appreciation on forward foreign currency contracts			—			94,277		506,034		70,707		—		—		—			—		—		—		—		—
Other			771,342			452,414		138,796		323,748		58,320		759		—			270,988		663		161,753		20,606		—
Total assets			20,136,052,928	10,685,719,873				7,621,710,325		6,682,617,829		282,186,775		51,154,269		3,925,852,357			3,441,771,943		33,327,613		2,199,013,526		1,152,181,197		1,432,322,345
LIABILITIES
Management fees payable			1,631,516			1,994,246		1,749,354		1,331,155		59,559		16,957		1,108,357			688,567		8,285		447,972		61,898		123,562
Service agreement fees payable			132,067			213,010		310,637		120,840		83		3,007		66,454			64,350		1,003		68,935		36,515		57,363
Distribution fees payable			11,377			24,395		68,246		65,605		57,733		1,464		61,706			33,156		558		35,107		994		71,805
Due to affiliates			64,955			37,033		29,635		30,566		9,337		13,565		26,742			25,361		13,536		21,695		18,213		19,414
Overdraft payable			—			—		—		—		—		—		—			—		—		589,528		—		—
Payable for collateral for securities loaned			47,264,181			21,209,160		47,966,951		8,330,743		—		—		40,248,079			713		—		1,300,874		48,683,289		—
Payable for securities transactions			211,260,160			55,265,307		70,135,629		62,971,069		—		249,962		15,000,000			21,856,215		—		6,120,945		35,913,808		—
Payable for delayed delivery securities			329,681,732			1,888,267,780		1,228,810,612		1,035,474,153		1,104,959		—		74,205,375			—		250,000		26,809,340		1,000,000		—
Payable for Fund shares redeemed			10,137,105			4,427,172		4,624,169		1,020,416		41,332		1,460		6,129,833			1,270,819		1,598		2,208,606		2,871		2,213,966
Income distribution payable			15,214,731			10,070,503		1,933,971		7,169,153		33,985		47,214		3,999,847			—		33,182		1,631,105		559,533		2,488
Payable for variation margin on centrally cleared swap contracts			—			155,280		—		712,550		—		—		—			—		—		—		—		—
Payable for trustee compensation			774,510			459,976		139,909		324,979		58,383		758		323,358			271,677		659		173,673		20,554		591
Accrued expenses and other payables			633,474			372,848		331,626		242,563		38,016		17,527		285,027			86,315		22,301		119,639		56,930		89,214
Total liabilities			616,805,808			1,982,496,710		1,356,100,739		1,117,793,792		1,403,387		351,914		141,454,778			24,297,173		331,122		39,527,419		86,354,605		2,578,403
NET ASSETS		$	19,519,247,120		$	8,703,223,163	$	6,265,609,586	$	5,564,824,037	$	280,783,388	$	50,802,355	$	3,784,397,579		$	3,417,474,770	$	32,996,491	$	2,159,486,107	$	1,065,826,592	$	1,429,743,942
NET ASSETS CONSIST OF:
Paid-in-capital		$	19,003,833,814		$	8,557,365,328	$	6,249,751,608	$	5,426,303,538	$	266,525,928	$	49,755,262	$	3,954,338,115		$	3,121,747,734	$	32,324,645	$	2,142,916,663	$	1,056,379,948	$	1,429,699,925
Total distributable earnings (loss)			515,413,306			145,857,835		15,857,978		138,520,499		14,257,460		1,047,093		(169,940,536	)		295,727,036		671,846		16,569,444		9,446,644		44,017
NET ASSETS		$	19,519,247,120		$	8,703,223,163	$	6,265,609,586	$	5,564,824,037	$	280,783,388	$	50,802,355	$	3,784,397,579		$	3,417,474,770	$	32,996,491	$	2,159,486,107	$	1,065,826,592	$	1,429,743,942
*	Includes securities loaned of	$	48,044,994		$	20,582,500	$	46,876,535	$	8,114,934	$	—	$	—	$	38,661,785		$	—	$	—	$	1,271,445	$	47,703,659	$	—
†	Portfolio investments, cost	$	19,347,211,830		$	9,824,409,954	$	7,046,424,368	$	6,109,018,648	$	260,300,066	$	49,862,324	$	3,645,959,556		$	3,155,791,735	$	32,379,476	$	2,136,663,733	$	1,109,127,915	$	1,431,430,979
§	Includes cash collateral for mortgage dollar rolls of	$	—		$	28,650,000	$	25,927,560	$	20,300,000	$	—	$	—	$	—		$	—	$	—	$	—	$	—	$	—
#	Includes cash collateral for open futures or open swap contracts of	$	—		$	—	$	—	$	—	$	—	$	—	$	—		$	400,000	$	—	$	839,000	$	—	$	—

2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

See notes to financial statements

TIAA-CREF Funds: Fixed-Income Funds ■ 2021 Annual Report

Statements of assets and liabilities

concluded

TIAA-CREF Funds ■ March 31, 2021

	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	$	9,712,952,300	$	2,825,827,931	$	4,169,777,657	$	1,608,212,521		$	8,098,953	$	27,694,283	$	2,703,045,863	$	1,209,994,987	$	23,951,757	$	666,049,960	$	77,334,600	$	811,301,566
Outstanding shares of beneficial interest, unlimited shares authorized ($.0001 par value)		871,617,278		265,366,720		398,052,664		148,587,513			743,085		2,606,691		283,745,658		98,828,199		2,337,434		63,643,948		7,649,159		811,272,023
Net asset value per share	$	11.14	$	10.65	$	10.48	$	10.82		$	10.90	$	10.62	$	9.53	$	12.24	$	10.25	$	10.47	$	10.11	$	1.00
ADVISOR CLASS:
Net assets	$	18,745,697	$	753,974,853	$	1,286,125,299	$	208,320,661		$	666,192	$	1,570,002	$	8,319,707	$	123,505,118	$	1,076,516	$	230,355,233	$	695,802	$	1,017,764
Outstanding shares of beneficial interest, unlimited shares authorized ($.0001 par value)		1,682,113		70,756,794		122,702,455		19,230,182			61,156		147,774		874,110		10,086,241		105,060		22,020,529		68,851		1,017,710
Net asset value per share	$	11.14	$	10.66	$	10.48	$	10.83		$	10.89	$	10.62	$	9.52	$	12.24	$	10.25	$	10.46	$	10.11	$	1.00
PREMIER CLASS:
Net assets	$	28,866,847	$	11,648,166	$	32,891,121	$	8,155,167		$	—	$	1,062,437	$	20,200,281	$	8,211,255	$	1,024,710	$	3,199,258	$	633,316	$	36,011,344
Outstanding shares of beneficial interest, unlimited shares authorized ($.0001 par value)		2,590,715		1,093,296		3,138,209		753,542			—		100,000		2,117,836		671,869		100,000		305,408		62,686		36,002,401
Net asset value per share	$	11.14	$	10.65	$	10.48	$	10.82		$	—	$	10.62	$	9.54	$	12.22	$	10.25	$	10.48	$	10.10	$	1.00
RETIREMENT CLASS:
Net assets	$	613,852,780	$	210,938,210	$	472,111,658	$	397,965,542		$	—	$	14,133,388	$	306,427,961	$	178,969,742	$	4,736,740	$	142,260,837	$179,544,886		$	270,402,122
Outstanding shares of beneficial interest, unlimited shares authorized ($.0001 par value)		55,061,096		19,444,504		45,058,731		36,723,222			—		1,330,177		32,155,483		14,507,176		462,224		13,578,439		17,760,167		270,392,576
Net asset value per share	$	11.15	$	10.85	$	10.48	$	10.84		$	—	$	10.63	$	9.53	$	12.34	$	10.25	$	10.48	$	10.11	$	1.00
RETAIL CLASS:
Net assets	$	36,032,561	$	107,280,099	$	304,703,851	$	302,270,123	$272,018,243			$	6,342,245	$	276,792,015	$	150,263,533	$	2,206,768	$	162,317,377	$	4,318,050	$	311,011,146
Outstanding shares of beneficial interest, unlimited shares authorized ($.0001 par value)		3,231,695		9,899,136		29,106,697		27,873,317	24,933,384				596,848		28,925,646		12,601,186		215,354		15,499,152		427,173		310,990,240
Net asset value per share	$	11.15	$	10.84	$	10.47	$	10.84		$	10.91	$	10.63	$	9.57	$	11.92	$	10.25	$	10.47	$	10.11	$	1.00
CLASS W:
Net assets	$	9,108,796,935	$	4,793,553,904	$	—	$	3,039,900,023		$	—	$	—	$	469,611,752	$	1,746,530,135	$	—	$	955,303,442	$803,299,938		$	—
Outstanding shares of beneficial interest, unlimited shares authorized ($.0001 par value)		817,281,048		450,103,656		—		280,860,032			—		—		49,292,042		142,657,158		—		91,288,115		79,452,841		—
Net asset value per share	$	11.15	$	10.65	$	—	$	10.82		$	—	$	—	$	9.53	$	12.24	$	—	$	10.46	$	10.11	$	—

2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

See notes to financial statements

TIAA-CREF Funds: Fixed-Income Funds ■ 2021 Annual Report

Statements of operations

TIAA-CREF Funds ■ For the year ended March 31, 2021

		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*		$	391,269,052		$	194,078,701		$	127,882,631		$	153,472,106		$	7,049,836		$	1,175,713		$	205,223,125		$	55,630,743		$	726,033		$	38,938,191		$	11,703,458		$	4,485,830
Income from securities lending, net			3,627			12,334			458			28,580			—			—			13,918			656			—			4,112			—			—
Dividends			—			40,782			2,517,505			599,091			—			64,034			2,243,582			—			—			—			—			—
Total income			391,272,679			194,131,817			130,400,594			154,099,777			7,049,836			1,239,747			207,480,625			55,631,399			726,033			38,942,303			11,703,458			4,485,830
EXPENSES
Management fees			17,815,710			21,066,775			19,035,121			14,718,736			692,605			168,451			12,921,034			8,137,523			93,285			4,962,423			603,251			1,976,512
Shareholder servicing – Institutional Class			7,270			2,516			32,676			3,417			72			42			7,335			2,420			41			1,129			421			837
Shareholder servicing – Advisor Class			22,383			1,070,453			954,258			159,247			587			146			6,339			120,373			30			161,004			1,537			—
Shareholder servicing – Premier Class			53			40			7,872			26			—			20			46			28			20			19			30			5,416
Shareholder servicing – Retirement Class			1,372,401			563,815			1,310,543			1,043,638			—			27,084			782,295			466,069			10,136			344,684			313,437			839,197
Shareholder servicing – Retail Class			20,735			44,362			29,769			192,854			71,196			3,525			113,480			97,169			1,462			85,633			3,244			306,748
Shareholder servicing – Class W			4,596			2,491			—			1,825			—			—			640			1,246			—			589			665			—
Distribution fees – Premier Class			42,119			20,279			50,708			13,670			—			1,633			31,148			11,150			1,538			6,800			1,102			439,856
Distribution fees – Retail Class			88,629			277,263			673,328			772,756			674,308			11,617			702,289			376,341			3,958			425,527			10,101			822,332
Administrative service fees			311,490			173,786			141,574			142,478			43,326			62,632			123,850			118,388			62,483			99,424			84,869			90,578
Shareholder reports			271,343			215,109			247,734			79,768			12,965			10,565			173,871			67,480			20,995			74,286			17,116			35,480
Trustee fees and expenses			220,095			92,214			69,839			63,687			3,467			484			46,185			42,900			377			24,818			10,152			25,604
Custody and accounting fees			162,492			110,933			64,448			73,484			17,490			17,267			38,784			30,839			17,736			25,959			21,742			54,373
Professional fees			141,098			79,964			63,607			74,518			33,828			42,496			67,606			49,383			44,134			60,041			57,302			43,044
Registration fees			121,538			129,228			155,513			90,009			56,182			76,052			123,808			95,110			75,893			91,924			81,082			127,061
Other expenses			248,909			156,789			398,556			88,200			11,179			14,347			99,445			(13,013	)		14,094			(2,234	)		48,759			73,227
Total expenses			20,850,861			24,006,017			23,235,546			17,518,313			1,617,205			436,361			15,238,155			9,603,406			346,182			6,362,026			1,254,810			4,840,265
Less: Expenses reimbursed by the investment adviser			(8,060,986	)		(12,124,554	)		—			(7,924,821	)		(39,945	)		(222,478	)		(1,746,436	)		(3,459,336	)		(221,805	)		(2,216,393	)		(703,580	)	(1,831,777		)
Fee waiver by investment adviser and Nuveen Securities			—			—			—			—			—			—			(560,127	)		(681,524	)		—			—			—			—
Net expenses			12,789,875			11,881,463			23,235,546			9,593,492			1,577,260			213,883			12,931,592			5,462,546			124,377			4,145,633			551,230			3,008,488
Net investment income (loss)			378,482,804			182,250,354			107,165,048			144,506,285			5,472,576			1,025,864			194,549,033			50,168,853			601,656			34,796,670			11,152,228			1,477,342
NET REALIZED AND UNREALIZED GAIN (LOSS) ON TOTAL INVESTMENTS
Realized gain (loss):
Portfolio investments			105,003,966			91,430,982			83,231,186			84,003,711			1,262,775			750,757			(75,107,989	)		34,641,819			397,592			8,319,253			6,440,656			19,335
Futures contracts			—			17,246			—			1,115,866			—			—			—			311,076			—			993,730			—			—
Forward foreign currency contracts			—			(450,240	)		(1,233,960	)		(538,588	)		—			—			—			—			—			—			—			—
Swap contracts			—			408,498			—			(1,320,469	)		—			—			(40,129	)		—			—			—			—			—
Foreign currency transactions			—			119,440			120,347			37,653			—			—			—			—			—			—			—			—
Net realized gain (loss) on total investments			105,003,966			91,525,926			82,117,573			83,298,173			1,262,775			750,757			(75,148,118	)		34,952,895			397,592			9,312,983			6,440,656			19,335
Change in unrealized appreciation (depreciation) on:
Portfolio investments			(461,597,834	)		93,528,075			43,270,106			131,988,586			9,721,080			849,043			545,888,369			165,608,719			980,867			33,038,185			(6,917,171	)		—
Futures contracts			—			(15,514	)		—			(454,835	)		—			—			—			351,072			—			2,775,766			—			—
Forward foreign currency contracts			—			129,989			538,806			120,039			—			—			—			—			—			—			—			—
Swap contracts			—			(626,933	)		—			(879,095	)		—			—			—			—			—			—			—			—
Translation of assets (other than portfolio investments)and liabilities denominated in foreign currencies			—			2,319			2,240			7,213			—			—			—			—			—			—			—			—
Net change in unrealized appreciation (depreciation) on total investments and from affiliated investments			(461,597,834	)		93,017,936			43,811,152			130,781,908			9,721,080			849,043			545,888,369			165,959,791			980,867			35,813,951			(6,917,171	)		—
Net realized and unrealized gain (loss) on total investments			(356,593,868	)		184,543,862			125,928,725			214,080,081			10,983,855			1,599,800			470,740,251			200,912,686			1,378,459			45,126,934			(476,515	)		19,335
Net increase (decrease) in net assets from operations		$	21,888,936		$	366,794,216		$	233,093,773		$	358,586,366		$	16,456,431		$	2,625,664		$	665,289,284		$	251,081,539		$	1,980,115		$	79,923,604		$	10,675,713		$	1,496,677
*	Net of foreign withholding taxes of	$	—		$	290,283		$	67,220		$	12,077		$	—		$	1,328		$	—		$	—		$	—		$	4,420		$	819		$	—

2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

See notes to financial statements

TIAA-CREF Funds: Fixed-Income Funds ■ 2021 Annual Report

Statements of changes in net assets

TIAA-CREF Funds ■ For the 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
		March 31, 2021			March 31, 2020			March 31, 2021			March 31, 2020			March 31, 2021			March 31, 2020			March 31, 2021			March 31, 2020			March 31, 2021			March 31, 2020			March 31, 2021			March 31, 2020
OPERATIONS
Net investment income (loss)		$	378,482,804		$	426,699,181		$	182,250,354		$	206,216,727		$	107,165,048		$	111,031,689		$	144,506,285		$	151,004,336		$	5,472,576		$	6,079,693		$	1,025,864		$	941,056
Net realized gain (loss) on total investments			105,003,966			79,162,493			91,525,926			116,527,146			82,117,573			73,921,740			83,298,173			91,375,019			1,262,775			1,197,718			750,757			252,339
Net change in unrealized appreciation (depreciation) on total investments			(461,597,834	)		896,860,957			93,017,936			9,041,471			43,811,152			(33,488,210	)		130,781,908			(77,991,557	)		9,721,080			(2,288,242	)		849,043			(662,145	)
Net increase (decrease) in net assets from operations			21,888,936			1,402,722,631			366,794,216			331,785,344			233,093,773			151,465,219			358,586,366			164,387,798			16,456,431			4,989,169			2,625,664			531,250
DISTRIBUTIONS TO SHAREHOLDERS
	Institutional Class		(276,146,082	)		(265,359,219	)		(92,991,478	)		(46,734,172	)		(164,369,131	)		(91,443,600	)		(52,937,053	)		(41,371,056	)		(168,185	)		(180,158	)		(1,008,735	)		(890,091	)
	Advisor Class		(570,964	)		(183,950	)		(31,108,715	)		(26,116,084	)		(55,232,430	)		(27,654,075	)		(7,057,943	)		(5,513,588	)		(17,922	)		(15,969	)		(54,126	)		(43,103	)
	Premier Class		(760,730	)		(611,330	)		(514,276	)		(394,913	)		(1,434,983	)		(1,146,121	)		(290,226	)		(314,466	)		—			—			(43,940	)		(40,562	)
	Retirement Class		(14,523,431	)		(8,297,462	)		(8,635,361	)		(5,393,901	)		(21,278,761	)		(16,708,206	)		(13,174,662	)		(11,714,337	)		—			—			(454,533	)		(149,650	)
	Retail Class		(915,835	)		(562,993	)		(4,180,968	)		(2,740,822	)		(11,232,764	)		(6,418,614	)		(9,539,184	)		(8,036,493	)		(6,124,364	)		(6,518,916	)		(186,041	)		(81,594	)
	Class W		(227,534,145	)		(151,945,788	)		(185,991,035	)		(122,216,339	)		—			—			(100,167,200	)		(81,104,619	)		—			—			—			—
Total distributions			(520,451,187	)		(426,960,742	)		(323,421,833	)		(203,596,231	)		(253,548,069	)		(143,370,616	)		(183,166,268	)		(148,054,559	)		(6,310,471	)		(6,715,043	)		(1,747,375	)		(1,205,000	)
SHAREHOLDER TRANSACTIONS
Subscriptions:	Institutional Class		2,456,814,994			5,490,275,796			1,428,940,925			1,301,445,537			1,729,736,040			1,856,656,914			434,746,403			449,751,913			4,668,192			5,435,806			5,401,351			380,454
	Advisor Class		14,768,747			18,130,840			164,685,889			186,995,009			857,862,283			683,834,162			46,635,258			51,442,418			76,220			787,190			465,033			59,981
	Premier Class		8,813,749			9,293,152			2,031,302			2,086,674			15,814,767			10,764,178			1,232,191			4,428,363			—			—			—			—
	Retirement Class		201,302,428			207,108,501			28,199,126			47,033,782			14,749,094			84,616,901			41,833,062			28,148,084			—			—			9,873,545			6,489,787
	Retail Class		15,173,942			11,778,140			13,674,368			15,115,712			131,698,861			104,565,465			22,198,451			21,811,213			17,297,942			26,985,778			5,095,909			2,540,415
	Class W		4,005,490,787			2,292,367,122			1,910,560,846			1,158,055,113			—			—			1,083,646,811			526,319,799			—			—			—			—
Reinvestments of distributions:	Institutional Class		270,182,073			261,395,644			76,139,941			36,209,779			128,091,744			70,402,889			33,541,251			21,472,595			164,607			169,400			63,718			4,939
	Advisor Class		567,980			181,359			29,097,804			24,982,508			31,788,074			13,477,226			3,351,025			2,667,923			15,417			13,338			7,490			278
	Premier Class		760,730			611,330			500,609			389,814			1,098,435			1,061,755			287,340			310,891			—			—			—			—
	Retirement Class		14,523,122			8,295,590			8,634,601			5,393,098			21,276,448			16,689,375			13,174,631			11,711,291			—			—			410,582			109,270
	Retail Class		885,879			544,816			3,946,957			2,565,717			10,850,665			6,138,611			8,942,620			7,467,554			5,639,132			5,967,218			142,107			40,889
	Class W		62,702,755			—			79,899,081			—			—			—			21,371,561			—			—			—			—			—
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		(2,850,311,486	)		(2,765,152,186	)		(435,201,323	)		(634,579,619	)		(895,504,284	)		(665,978,746	)		(298,734,074	)		(352,405,136	)		(1,924,566	)		(5,553,151	)		(373,666	)		(30,224	)
	Advisor Class		(13,078,849	)		(2,948,765	)		(364,694,452	)		(304,273,247	)		(524,644,076	)		(321,710,883	)		(61,987,935	)		(77,011,082	)		(418,058	)		(31,079	)		(158	)		(11,130	)
	Premier Class		(5,887,704	)		(6,829,307	)		(4,853,823	)		(3,844,290	)		(14,976,740	)		(18,488,933	)		(3,223,104	)		(6,089,997	)		—			—			—			—
	Retirement Class		(34,262,425	)		(44,889,881	)		(38,214,994	)		(44,219,481	)		(95,942,563	)		(47,197,376	)		(68,316,770	)		(83,387,505	)		—			—			(2,649,604	)		(1,457,080	)
	Retail Class		(8,652,039	)		(5,627,595	)		(18,358,964	)		(23,281,135	)		(70,385,109	)		(50,543,751	)		(40,119,963	)		(42,086,558	)		(25,271,282	)		(32,891,370	)		(1,734,083	)		(1,072,003	)
	Class W		(681,946,493	)		(1,244,045,335	)		(829,185,907	)		(1,355,429,151	)		—			—			(415,757,207	)		(637,053,007	)		—			—			—			—
Net increase (decrease) from shareholder transactions			3,457,848,190			4,230,489,221			2,055,801,986			541,802,001			1,341,513,639			1,744,287,787			822,821,551			256,133,628			247,604			883,130			16,702,224			7,055,576
Net increase (decrease) in net assets			2,959,285,939			5,206,251,110			2,099,174,369			669,991,114			1,321,059,343			1,752,382,390			998,241,649			272,466,867			10,393,564			(842,744	)		17,580,513			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		$	19,519,247,120		$	16,559,961,181		$	8,703,223,163		$	6,604,048,794		$	6,265,609,586		$	4,944,550,243		$	5,564,824,037		$	4,566,582,388		$	280,783,388		$	270,389,824		$	50,802,355		$	33,221,842

2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

See notes to financial statements

TIAA-CREF Funds: Fixed-Income Funds ■ 2021 Annual Report

Statements of changes in net assets

continued

TIAA-CREF Funds ■ For the 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
		March 31, 2021			March 31, 2020			March 31, 2021			March 31, 2020			March 31, 2021			March 31, 2020			March 31, 2021			March 31, 2020			March 31, 2021			March 31, 2020			March 31, 2021			March 31, 2020
CHANGE IN FUND SHARES
Shares sold:	Institutional Class		212,593,068			505,684,309			130,882,185			124,501,386			159,781,356			175,262,612			39,601,213			42,342,394			436,915			504,123			496,961			35,374
	Advisor Class		1,271,130			1,630,998			15,027,739			17,563,405			79,188,356			64,510,714			4,250,982			4,827,676			6,973			71,964			42,486			5,609
	Premier Class		760,651			840,845			186,215			196,969			1,458,864			1,012,967			111,856			416,803			—			—			—			—
	Retirement Class		17,385,750			18,643,496			2,526,492			4,314,914			1,356,443			8,073,731			3,802,018			2,637,017			—			—			904,324			605,385
	Retail Class		1,303,226			1,051,210			1,221,128			1,397,774			12,189,880			9,879,563			2,033,328			2,041,882			1,591,476			2,498,176			467,822			239,009
	Class W		346,154,733			207,099,777			174,118,451			109,382,527			—			—			98,562,739			49,564,623			—			—			—			—
Shares reinvested:	Institutional Class		23,346,381			23,443,172			6,942,626			3,401,988			11,835,090			6,638,919			3,041,603			2,013,996			15,177			15,654			5,853			467
	Advisor Class		49,033			16,067			2,650,746			2,350,698			2,935,530			1,269,271			304,210			249,213			1,425			1,233			687			26
	Premier Class		65,733			54,849			45,590			36,687			101,390			100,205			26,118			29,190			—			—			—			—
	Retirement Class		1,254,614			742,839			772,476			498,371			1,965,138			1,574,565			1,194,908			1,098,552			—			—			37,579			10,306
	Retail Class		76,497			48,851			353,481			237,254			1,003,502			579,508			810,686			699,175			520,327			552,056			13,008			3,852
	Class W		5,414,746			—			7,276,783			—			—			—			1,923,633			—			—			—			—			—
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		(245,929,801	)		(246,335,156	)		(39,781,010	)		(59,098,905	)		(83,146,337	)		(63,022,539	)		(27,352,873	)		(32,476,032	)		(180,027	)		(531,387	)		(34,476	)		(3,043	)
	Advisor Class		(1,128,848	)		(262,054	)		(33,363,140	)		(28,823,372	)		(48,707,008	)		(30,344,713	)		(5,666,333	)		(7,239,390	)		(39,263	)		(2,818	)		(15	)		(1,019	)
	Premier Class		(509,261	)		(608,790	)		(443,450	)		(359,360	)		(1,383,780	)		(1,730,347	)		(292,902	)		(571,621	)		—			—			—			—
	Retirement Class		(2,962,781	)		(4,038,095	)		(3,423,565	)		(4,106,297	)		(8,874,038	)		(4,476,301	)		(6,234,753	)		(7,888,268	)		—			—			(243,413	)		(140,854	)
	Retail Class		(745,599	)		(503,313	)		(1,649,105	)		(2,161,476	)		(6,521,498	)		(4,801,471	)		(3,665,830	)		(3,968,785	)		(2,338,800	)		(3,073,407	)		(159,392	)		(103,241	)
	Class W		(58,874,575	)		(110,397,101	)		(76,076,409	)		(128,181,424	)		—			—			(38,149,008	)		(59,926,625	)		—			—			—			—
Net increase (decrease) from shareholder transactions			299,524,697			397,111,904			187,267,233			53,285,504			123,182,888			164,526,684			74,301,595			25,141,494			14,203			35,594			1,531,424			651,871

2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

See notes to financial statements

TIAA-CREF Funds: Fixed-Income Funds ■ 2021 Annual Report

Statements of changes in net assets

continued

TIAA-CREF Funds ■ For the 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
		March 31, 2021			March 31, 2020			March 31, 2021			March 31, 2020			March 31, 2021			March 31, 2020			March 31, 2021			March 31, 2020			March 31, 2021			March 31, 2020			March 31, 2021			March 31, 2020
OPERATIONS
Net investment income (loss)		$	194,549,033		$	213,407,740		$	50,168,853		$	87,250,770		$	601,656		$	764,756		$	34,796,670		$	57,671,522		$	11,152,228		$	13,802,460		$	1,477,342		$	25,743,869
Net realized gain (loss) on total investments			(75,148,118	)		(81,312,513	)		34,952,895			(5,983,205	)		397,592			135,821			9,312,983			9,925,521			6,440,656			1,423,659			19,335			33,150
Net change in unrealized appreciation (depreciation) on total investments			545,888,369			(400,276,400	)		165,959,791			68,916,329			980,867			(651,913	)		35,813,951			(16,722,758	)		(6,917,171	)		12,013,817			—			—
Net increase (decrease) in net assets from operations			665,289,284			(268,181,173	)		251,081,539			150,183,894			1,980,115			248,664			79,923,604			50,874,285			10,675,713			27,239,936			1,496,677			25,777,019
DISTRIBUTIONS TO SHAREHOLDERS
	Institutional Class		(136,677,735	)		(156,775,764	)		(18,322,810	)		(33,779,302	)		(660,441	)		(742,680	)		(11,691,144	)		(21,580,011	)		(1,008,902	)		(1,137,079	)		(1,092,494	)		(13,826,085	)
	Advisor Class		(317,334	)		(598,508	)		(1,677,275	)		(2,868,106	)		(30,264	)		(33,334	)		(3,132,353	)		(3,997,186	)		(17,438	)		(16,334	)		(1,810	)		(35,729	)
	Premier Class		(1,028,780	)		(1,371,443	)		(90,185	)		(59,211	)		(27,415	)		(31,827	)		(72,374	)		(138,286	)		(10,323	)		(14,976	)		(180,624	)		(3,329,337	)
	Retirement Class		(15,172,810	)		(19,700,573	)		(2,046,885	)		(3,627,124	)		(106,548	)		(68,395	)		(2,027,413	)		(2,927,141	)		(1,568,583	)		(1,307,867	)		(141,850	)		(3,880,553	)
	Retail Class		(13,517,178	)		(17,297,682	)		(1,633,050	)		(2,470,621	)		(42,124	)		(32,246	)		(2,444,158	)		(3,989,884	)		(48,338	)		(54,871	)		(61,319	)		(4,671,118	)
	Class W		(27,886,439	)		(16,961,016	)		(25,359,464	)		(29,288,645	)		—			—			(16,803,651	)		(25,047,525	)		(10,844,607	)		(11,272,600	)		—			—
Total distributions			(194,600,276	)		(212,704,986	)		(49,129,669	)		(72,093,009	)		(866,792	)		(908,482	)		(36,171,093	)		(57,680,033	)		(13,498,191	)		(13,803,727	)		(1,478,097	)		(25,742,822	)
SHAREHOLDER TRANSACTIONS
Subscriptions:	Institutional Class		1,222,458,027			953,544,394			252,784,435			370,872,285			1,366,411			1,864,571			245,990,712			316,381,053			31,834,826			23,681,868			442,102,990			711,438,174
	Advisor Class		7,973,217			10,546,605			47,012,800			34,417,666			85,467			117,000			121,218,722			31,669,297			1,253,362			32,688			92,843			1,814,498
	Premier Class		3,356,122			17,953,706			7,147,889			494,218			—			—			1,954,283			1,228,125			184,844			469,631			189,053,632			770,453,136
	Retirement Class		20,428,838			34,167,269			8,482,886			7,678,913			2,004,385			2,612,800			52,232,704			35,095,731			102,837,518			33,890,532			176,643,982			251,414,975
	Retail Class		45,326,476			76,570,048			28,240,214			28,304,167			1,129,866			401,322			10,137,654			11,194,452			2,319,801			1,127,424			131,431,955			176,250,137
	Class W		253,074,356			226,932,938			594,234,969			334,044,122			—			—			337,947,693			196,819,835			336,940,643			204,033,031			—			—
Reinvestments of distributions:	Institutional Class		117,068,736			139,449,157			17,546,587			32,467,835			52,403			42,274			8,290,525			16,974,392			1,008,778			1,136,856			1,089,610			13,820,523
	Advisor Class		294,228			569,031			704,677			1,084,423			1,340			—			1,401,068			1,292,012			15,997			14,254			1,683			33,881
	Premier Class		1,028,264			1,369,665			90,185			59,210			—			—			72,374			137,957			6,795			9,807			162,176			2,923,593
	Retirement Class		15,172,222			19,699,391			2,046,885			3,627,104			80,152			37,542			2,027,418			2,926,726			1,568,471			1,307,668			141,848			3,880,484
	Retail Class		12,611,107			16,058,947			1,455,235			2,132,293			15,443			2,131			2,261,446			3,685,718			47,504			53,229			60,308			4,587,321
	Class W		57			55			—			—			—			—			582,474			—			1,818,242			—			—			—
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		(1,243,758,639	)		(1,565,459,484	)		(845,770,706	)		(464,145,376	)		(444,397	)		(1,889,649	)		(219,612,183	)		(680,708,184	)		(10,057,422	)		(15,141,855	)		(721,317,556	)		(340,184,651	)
	Advisor Class		(5,357,880	)		(19,433,750	)		(74,266,672	)		(245,631,580	)		(35,749	)		(117,116	)		(65,633,564	)		(130,337,661	)		(1,212,889	)		(285,826	)		(301,415	)		(2,050,015	)
	Premier Class		(6,241,565	)		(29,342,822	)		(2,459,784	)		(1,052,865	)		—			—			(3,147,829	)		(5,687,013	)		(178,048	)		(513,378	)		(594,582,716	)		(360,216,040	)
	Retirement Class		(63,843,003	)		(99,064,417	)		(31,262,593	)		(50,079,336	)		(733,177	)		(399,064	)		(27,612,058	)		(34,871,830	)		(7,581,019	)		(5,546,960	)		(237,349,564	)		(135,300,369	)
	Retail Class		(86,368,883	)		(105,725,044	)		(37,204,304	)		(49,560,761	)		(216,967	)		(261,755	)		(27,434,464	)		(44,004,518	)		(1,153,267	)		(779,386	)		(152,538,312	)		(158,241,194	)
	Class W		(226,865,222	)		(101,632,859	)		(180,734,642	)		(241,266,373	)		—			—			(135,289,102	)		(300,990,048	)		(65,686,930	)		(78,395,800	)		—			—
Net increase (decrease) from shareholder transactions			66,356,458			(423,797,170	)		(211,951,939	)		255,079,692			3,305,177			2,410,056			305,387,873			(167,998,220	)		393,967,206			165,093,783			(765,308,536	)		940,624,453
Net increase (decrease) in net assets			537,045,466			(904,683,329	)		(10,000,069	)		333,170,577			4,418,500			1,750,238			349,140,384			(174,803,968	)		391,144,728			178,529,992			(765,289,956	)		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		$	3,784,397,579		$	3,247,352,113		$	3,417,474,770		$	3,427,474,839		$	32,996,491		$	28,577,991		$	2,159,486,107		$	1,810,345,723		$	1,065,826,592		$	674,681,864		$	1,429,743,942		$	2,195,033,898

2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

See notes to financial statements

TIAA-CREF Funds: Fixed-Income Funds ■ 2021 Annual Report

Statements of changes in net assets

concluded

TIAA-CREF Funds ■ For the 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
		March 31, 2021			March 31, 2020			March 31, 2021			March 31, 2020			March 31, 2021			March 31, 2020			March 31, 2021			March 31, 2020			March 31, 2021			March 31, 2020			March 31, 2021			March 31, 2020
CHANGE IN FUND SHARES
Shares sold:	Institutional Class		132,386,946			98,427,976			20,863,995			32,168,942			133,194			184,073			23,523,971			30,574,618			3,134,042			2,368,426			442,102,990			711,438,174
	Advisor Class		868,826			1,088,094			3,882,496			2,980,603			8,420			11,550			11,606,447			3,077,699			123,074			3,269			92,843			1,814,498
	Premier Class		361,343			1,850,883			601,096			43,148			—			—			188,131			118,364			18,212			46,947			189,053,632			770,453,136
	Retirement Class		2,219,208			3,528,411			695,853			665,136			195,234			257,557			4,993,483			3,387,443			10,126,991			3,390,855			176,643,982			251,414,975
	Retail Class		4,897,348			7,900,851			2,394,559			2,531,468			109,891			39,814			969,690			1,079,271			228,273			112,685			131,431,955			176,250,137
	Class W		28,164,616			25,589,539			49,062,320			29,083,259			—			—			32,295,855			19,027,349			33,149,034			20,431,018			—			—
Shares reinvested:	Institutional Class		12,632,844			14,549,599			1,443,612			2,839,344			5,102			4,164			792,090			1,637,492			99,260			113,584			1,089,610			13,820,523
	Advisor Class		31,682			59,101			57,946			94,594			130			—			133,894			124,574			1,574			1,425			1,683			33,881
	Premier Class		111,053			142,733			7,430			5,185			—			—			6,913			13,302			669			980			162,176			2,923,593
	Retirement Class		1,639,517			2,055,121			167,054			314,659			7,804			3,700			193,472			281,999			154,357			130,614			141,847			3,880,484
	Retail Class		1,357,361			1,669,228			122,815			191,224			1,503			211			216,004			355,163			4,675			5,320			60,308			4,587,321
	Class W		6			6			—			—			—			—			55,421			—			179,314			—			—			—
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		(134,357,349	)		(163,217,798	)		(70,083,018	)		(40,319,460	)		(43,161	)		(187,450	)		(20,987,233	)		(65,306,829	)		(991,195	)		(1,514,286	)		(721,317,556	)		(340,184,650	)
	Advisor Class		(585,602	)		(2,037,439	)		(6,137,928	)		(21,309,409	)		(3,490	)		(11,550	)		(6,281,143	)		(12,568,632	)		(119,532	)		(28,539	)		(301,415	)		(2,050,015	)
	Premier Class		(670,159	)		(3,060,252	)		(202,960	)		(91,940	)		—			—			(299,786	)		(548,782	)		(17,576	)		(50,791	)		(594,582,716	)		(360,216,040	)
	Retirement Class		(6,897,819	)		(10,475,887	)		(2,571,756	)		(4,330,693	)		(71,390	)		(39,245	)		(2,636,569	)		(3,368,106	)		(744,216	)		(554,513	)		(237,349,564	)		(135,300,368	)
	Retail Class		(9,356,735	)		(11,160,257	)		(3,165,478	)		(4,416,306	)		(21,077	)		(25,915	)		(2,622,580	)		(4,252,428	)		(113,556	)		(77,844	)		(152,538,312	)		(158,241,194	)
	Class W		(24,192,680	)		(10,481,975	)		(14,922,941	)		(20,867,113	)		—			—			(12,972,205	)		(29,079,631	)		(6,466,461	)		(7,795,300	)		—			—
Net increase (decrease) from shareholder transactions			8,610,406			(43,572,066	)		(17,784,905	)		22,916,262			322,160			236,909			29,175,855			(15,717,380	)		38,766,939			16,583,850			(765,308,537	)		940,624,455

2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

See notes to financial statements

TIAA-CREF Funds: Fixed-Income Funds ■ 2021 Annual Report

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:	3/31/21		$	11.40	$	0.24		$	(0.17	)	$	0.07		$	(0.24	)	$	(0.09	)	$	(0.33	)	$	11.14
	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
Advisor Class:	3/31/21			11.41		0.23			(0.18	)		0.05			(0.23	)		(0.09	)		(0.32	)		11.14
	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
Premier Class:	3/31/21			11.40		0.22			(0.16	)		0.06			(0.23	)		(0.09	)		(0.32	)		11.14
	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	)		—			(0.23	)		—			(0.23	)		10.75
Retirement Class:	3/31/21			11.41		0.21			(0.17	)		0.04			(0.21	)		(0.09	)		(0.30	)		11.15
	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
Retail Class:	3/31/21			11.41		0.21			(0.17	)		0.04			(0.21	)		(0.09	)		(0.30	)		11.15
	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
Class W:	3/31/21			11.41		0.25			(0.16	)		0.09			(0.26	)		(0.09	)		(0.35	)		11.15
	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:	3/31/21			10.48		0.25			0.37			0.62			(0.25	)		(0.20	)		(0.45	)		10.65
	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
Advisor Class:	3/31/21			10.49		0.24			0.36			0.60			(0.23	)		(0.20	)		(0.43	)		10.66
	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
Premier Class:	3/31/21			10.49		0.23			0.36			0.59			(0.23	)		(0.20	)		(0.43	)		10.65
	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
Retirement Class:	3/31/21			10.67		0.23			0.37			0.60			(0.22	)		(0.20	)		(0.42	)		10.85
	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
Retail Class:	3/31/21			10.66		0.22			0.38			0.60			(0.22	)		(0.20	)		(0.42	)		10.84
	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
Class W:	3/31/21			10.48		0.28			0.37			0.65			(0.28	)		(0.20	)		(0.48	)		10.65
	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

2021 Annual 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:	3/31/21			0.46	%	$	9,712,952			0.11	%		0.11	%		2.09	%		29	%		29	%
	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
Advisor Class:	3/31/21			0.36			18,746			0.21			0.21			1.98			29			29
	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
Premier Class:	3/31/21			0.40			28,867			0.26			0.26			1.94			29			29
	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
Retirement Class:	3/31/21			0.30			613,853			0.36			0.36			1.84			29			29
	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
Retail Class:	3/31/21			0.24			36,033			0.42			0.42			1.78			29			29
	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
Class W:	3/31/21			0.66			9,108,797			0.11			0.00			2.19			29			29
	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:	3/31/21			5.84			2,825,828			0.29			0.29			2.27			229			117
	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
Advisor Class:	3/31/21			5.70			753,975			0.42			0.42			2.16			229			117
	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
Premier Class:	3/31/21			5.58			11,648			0.44			0.44			2.13			229			117
	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
Retirement Class:	3/31/21			5.51			210,938			0.54			0.54			2.03			229			117
	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
Retail Class:	3/31/21			5.47			107,280			0.58			0.58			1.99			229			117
	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
Class W:	3/31/21			6.15			4,793,554			0.29			0.00			2.56			229			117
	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 ■ 2021 Annual Report

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:	3/31/21		$	10.41	$	0.21		$	0.33		$	0.54	$	(0.21	)	$	(0.26	)	$	(0.47	)	$	10.48
	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
Advisor Class:	3/31/21			10.42		0.20			0.32			0.52		(0.20	)		(0.26	)		(0.46	)		10.48
	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
Premier Class:	3/31/21			10.42		0.19			0.32			0.51		(0.19	)		(0.26	)		(0.45	)		10.48
	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
Retirement Class:	3/31/21			10.41		0.18			0.33			0.51		(0.18	)		(0.26	)		(0.44	)		10.48
	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
Retail Class:	3/31/21			10.40		0.18			0.33			0.51		(0.18	)		(0.26	)		(0.44	)		10.47
	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
CORE PLUS BOND FUND
Institutional Class:	3/31/21			10.38		0.29			0.52			0.81		(0.29	)		(0.08	)		(0.37	)		10.82
	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
Advisor Class:	3/31/21			10.39		0.29			0.51			0.80		(0.28	)		(0.08	)		(0.36	)		10.83
	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
Premier Class:	3/31/21			10.38		0.28			0.51			0.79		(0.27	)		(0.08	)		(0.35	)		10.82
	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
Retirement Class:	3/31/21			10.40		0.27			0.51			0.78		(0.26	)		(0.08	)		(0.34	)		10.84
	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
Retail Class:	3/31/21			10.40		0.26			0.52			0.78		(0.26	)		(0.08	)		(0.34	)		10.84
	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
Class W:	3/31/21			10.38		0.32			0.52			0.84		(0.32	)		(0.08	)		(0.40	)		10.82
	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

2021 Annual 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:	3/31/21			5.13	%	$	4,169,777			0.35	%		0.35	%		1.92	%		293	%		186	%
	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
Advisor Class:	3/31/21			4.95			1,286,125			0.43			0.43			1.83			293			186
	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
Premier Class:	3/31/21			4.85			32,891			0.53			0.53			1.76			293			186
	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
Retirement Class:	3/31/21			4.87			472,112			0.60			0.60			1.69			293			186
	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
Retail Class:	3/31/21			4.87			304,704			0.61			0.61			1.67			293			186
	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
CORE PLUS BOND FUND
Institutional Class:	3/31/21			7.83			1,608,213			0.30			0.30			2.66			169			84
	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
Advisor Class:	3/31/21			7.74			208,321			0.37			0.37			2.60			169			84
	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
Premier Class:	3/31/21			7.67			8,155			0.45			0.45			2.53			169			84
	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
Retirement Class:	3/31/21			7.55			397,965			0.55			0.55			2.42			169			84
	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
Retail Class:	3/31/21			7.48			302,270			0.61			0.61			2.36			169			84
	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
Class W:	3/31/21			8.14			3,039,900			0.30			0.00			2.95			169			84
	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 ■ 2021 Annual Report

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:	3/31/21		$	10.50	$	0.24		$	0.43		$	0.67		$	(0.24	)	$	(0.03	)	$	(0.27	)	$	10.90
	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
Advisor Class:	3/31/21			10.50		0.23			0.42			0.65			(0.23	)		(0.03	)		(0.26	)		10.89
	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
Retail Class:	3/31/21			10.51		0.21			0.43			0.64			(0.21	)		(0.03	)		(0.24	)		10.91
	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
GREEN BOND FUND
Institutional Class:	3/31/21			10.22		0.27			0.58			0.85			(0.27	)		(0.18	)		(0.45	)		10.62
	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:	3/31/21			10.22		0.27			0.58			0.85			(0.27	)		(0.18	)		(0.45	)		10.62
	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:	3/31/21			10.22		0.26			0.58			0.84			(0.26	)		(0.18	)		(0.44	)		10.62
	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:	3/31/21			10.22		0.26			0.59			0.85			(0.26	)		(0.18	)		(0.44	)		10.63
	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:	3/31/21			10.22		0.24			0.59			0.83			(0.24	)		(0.18	)		(0.42	)		10.63
	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

2021 Annual 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:	3/31/21			6.48	%	$	8,099			0.32	%		0.30	%		2.24	%		23	%
	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
Advisor Class:	3/31/21			6.30			666			0.40			0.38			2.16			23
	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
Retail Class:	3/31/21			6.18			272,018			0.59			0.58			1.97			23
	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
GREEN BOND FUND
Institutional Class:	3/31/21			8.27			27,694			0.93			0.45			2.50			34
	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:	3/31/21			8.25			1,570			0.94			0.46			2.49			34
	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:	3/31/21			8.16			1,062			1.08			0.55			2.41			34
	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:	3/31/21			8.26			14,133			1.18			0.54			2.38			34
	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:	3/31/21			8.07			6,342			1.26			0.73			2.20			34
	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 ■ 2021 Annual Report

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
HIGH-YIELD FUND
Institutional Class:	3/31/21			$8.36		$0.47			$ 1.17			$ 1.64			$(0.47	)		$—		$(0.47	)		$9.53
	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
Advisor Class:	3/31/21			8.35		0.46			1.17			1.63			(0.46	)		—		(0.46	)		9.52
	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
Premier Class:	3/31/21			8.37		0.46			1.17			1.63			(0.46	)		—		(0.46	)		9.54
	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
Retirement Class:	3/31/21			8.36		0.45			1.17			1.62			(0.45	)		—		(0.45	)		9.53
	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
Retail Class:	3/31/21			8.39		0.45			1.18			1.63			(0.45	)		—		(0.45	)		9.57
	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
Class W:	3/31/21			8.36		0.50			1.17			1.67			(0.50	)		—		(0.50	)		9.53
	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:	3/31/21			11.54		0.16			0.71			0.87			(0.17	)		—		(0.17	)		12.24
	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
Advisor Class:	3/31/21			11.55		0.16			0.69			0.85			(0.16	)		—		(0.16	)		12.24
	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
Premier Class:	3/31/21			11.52		0.16			0.69			0.85			(0.15	)		—		(0.15	)		12.22
	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
Retirement Class:	3/31/21			11.63		0.14			0.71			0.85			(0.14	)		—		(0.14	)		12.34
	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
Retail Class:	3/31/21			11.25		0.13			0.67			0.80			(0.13	)		—		(0.13	)		11.92
	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
Class W:	3/31/21			11.54		0.21			0.68			0.89			(0.19	)		—		(0.19	)		12.24
	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	2021 Annual 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
HIGH-YIELD FUND
Institutional Class:	3/31/21			19.94	%	$	2,703,046			0.36	%		0.34	%		5.08	%		79	%
	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
Advisor Class:	3/31/21			19.84			8,320			0.45			0.44			4.95			79
	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
Premier Class:	3/31/21			19.74			20,200			0.51			0.49			4.95			79
	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
Retirement Class:	3/31/21			19.64			306,428			0.61			0.59			4.85			79
	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
Retail Class:	3/31/21			19.67			276,792			0.65			0.63			4.81			79
	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
Class W:	3/31/21			20.34			469,612			0.36			0.00			5.42			79
	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:	3/31/21			7.53			1,209,995			0.25			0.23			1.31			27
	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
Advisor Class:	3/31/21			7.43			123,505			0.34			0.32			1.31			27
	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
Premier Class:	3/31/21			7.38			8,211			0.40			0.38			1.34			27
	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
Retirement Class:	3/31/21			7.29			178,970			0.50			0.48			1.17			27
	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
Retail Class:	3/31/21			7.12			150,264			0.56			0.54			1.13			27
	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
Class W:	3/31/21			7.77			1,746,530			0.25			0.00			1.71			27
	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 ■ 2021 Annual Report

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
SHORT DURATION IMPACT BOND FUND
Institutional Class:	3/31/21			$ 9.86		$0.20			$ 0.48			$0.68		$(0.20	)		$(0.09	)		$(0.29	)		$10.25
	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:	3/31/21			9.86		0.20			0.48			0.68		(0.20	)		(0.09	)		(0.29	)		10.25
	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:	3/31/21			9.86		0.19			0.48			0.67		(0.19	)		(0.09	)		(0.28	)		10.25
	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:	3/31/21			9.86		0.18			0.48			0.66		(0.18	)		(0.09	)		(0.27	)		10.25
	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:	3/31/21			9.86		0.18			0.48			0.66		(0.18	)		(0.09	)		(0.27	)		10.25
	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:	3/31/21			10.22		0.17			0.26			0.43		(0.17	)		(0.01	)		(0.18	)		10.47
	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
Advisor Class:	3/31/21			10.21		0.16			0.27			0.43		(0.17	)		(0.01	)		(0.18	)		10.46
	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
Premier Class:	3/31/21			10.23		0.16			0.26			0.42		(0.16	)		(0.01	)		(0.17	)		10.48
	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
Retirement Class:	3/31/21			10.23		0.15			0.26			0.41		(0.15	)		(0.01	)		(0.16	)		10.48
	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
Retail Class:	3/31/21			10.23		0.14			0.25			0.39		(0.14	)		(0.01	)		(0.15	)		10.47
	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
Class W:	3/31/21			10.22		0.20			0.25			0.45		(0.20	)		(0.01	)		(0.21	)		10.46
	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	2021 Annual 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
SHORT DURATION IMPACT BOND FUND
Institutional Class:	3/31/21			6.92	%		$	23,952			1.06	%		0.35	%		1.99	%		136	%		136	%
	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:	3/31/21			6.92				1,077			1.06			0.35			1.99			136			136
	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:	3/31/21			6.76				1,025			1.21			0.50			1.84			136			136
	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:	3/31/21			6.66				4,737			1.31			0.60			1.72			136			136
	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:	3/31/21			6.67				2,207			1.40			0.59			1.71			136			136
	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:	3/31/21			4.23				666,050			0.26			0.26			1.66			167			161
	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
Advisor Class:	3/31/21			4.15				230,355			0.35			0.35			1.57			167			161
	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
Premier Class:	3/31/21			4.07				3,199			0.41			0.41			1.55			167			161
	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
Retirement Class:	3/31/21			3.97				142,261			0.51			0.51			1.40			167			161
	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
Retail Class:	3/31/21			3.82				162,317			0.56			0.56			1.37			167			161
	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
Class W:	3/31/21			4.41				955,303			0.26			0.00			1.91			167			161
	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 ■ 2021 Annual 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 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
SHORT-TERM BOND INDEX FUND
Institutional Class:	3/31/21			$10.12		$0.13			$ 0.02			$ 0.15			$(0.13	)		$(0.03	)		$(0.16	)		$10.11
	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
Advisor Class:	3/31/21			10.12		0.12			0.02			0.14			(0.12	)		(0.03	)		(0.15	)		10.11
	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
Premier Class:	3/31/21			10.12		0.12			0.01			0.13			(0.12	)		(0.03	)		(0.15	)		10.10
	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
Retirement Class:	3/31/21			10.12		0.10			0.03			0.13			(0.11	)		(0.03	)		(0.14	)		10.11
	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
Retail Class:	3/31/21			10.12		0.10			0.02			0.12			(0.10	)		(0.03	)		(0.13	)		10.11
	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
Class W:	3/31/21			10.12		0.14			0.02			0.16			(0.14	)		(0.03	)		(0.17	)		10.11
	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:	3/31/21			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
Advisor Class:	3/31/21			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
Premier Class:	3/31/21			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
Retirement Class:	3/31/21			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
Retail Class:	3/31/21			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

^§	The Fund commenced operations on November 16, 2018.
^††	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.

2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

See notes to financial statements

concluded

						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
SHORT-TERM BOND INDEX FUND
Institutional Class:	3/31/21			1.45	%		$ 77,335			0.11	%		0.11	%		1.26	%		48	%
	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
Advisor Class:	3/31/21			1.32			696			0.24			0.24			1.14			48
	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
Premier Class:	3/31/21			1.30			633			0.26			0.26			1.14			48
	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
Retirement Class:	3/31/21			1.20			179,545			0.36			0.36			0.98			48
	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
Retail Class:	3/31/21			1.12			4,318			0.44			0.44			0.94			48
	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
Class W:	3/31/21			1.56			803,300			0.11			0.00			1.36			48
	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:	3/31/21			0.10			811,301			0.12			0.12			0.11			—
	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			—
Advisor Class:	3/31/21			0.15			1,018			0.08			0.07			0.15			—
	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			—
Premier Class:	3/31/21			0.04			36,011			0.27			0.16			0.07			—
	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			—
Retirement Class:	3/31/21			0.04			270,402			0.37			0.18			0.05			—
	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			—
Retail Class:	3/31/21			0.02			311,011			0.47			0.20			0.02			—
	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			—


See notes to financial statements	TIAA-CREF Funds: Fixed-Income Funds ■ 2021 Annual Report	87

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”).

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. Securities lending income is comprised of fees earned from borrowers and income earned on cash collateral investments. 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.

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 “change in Net unrealized appreciation (depreciation) of investments and foreign currency” 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 “Net change in unrealized appreciation (depreciation) on total investments and from affiliated investments” 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’

88	2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

fees, including any deferred and long-term compensation incurred, are reflected in the Statements 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. 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 pronouncement: In March 2020, FASB issued Accounting Standards Update (“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, 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 change 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 Funds may elect to apply the amendments as of March 12, 2020 through December 31, 2022. Management has not yet elected to apply the amendments, is continuously evaluating the potential effect a discontinuation of LIBOR could have on the Funds’ investments and has currently determined that it is unlikely the ASU’s adoption will have a significant impact on the Funds’ financial statements and various filings.

issued guidance on related issues, including the role of a board in determining fair value and the accounting and auditing of fund investments. Rule 2a-5 and Rule 31a-4 will become effective on March 8, 2021, with a compliance date of September 8, 2022. A fund may voluntarily comply with the rules after the effective date, and in advance of the compliance date, under certain conditions. Management is currently assessing the impact of these provisions on the Funds’ financial statements.

Note 3—valuation of investments

The Funds’ investments in securities are recorded at their estimated fair value utilizing valuation methods approved by the Board. Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. U.S. GAAP establishes the three-tier hierarchy that is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect management’s assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.

•	Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
•	Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, credit spreads, etc.).
•	Level 3 – Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).

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

Debt securities: Prices of fixed-income securities are provided by an independent pricing service (“pricing service”) approved by the Board. The pricing service establishes a security’s fair value using methods that may include consideration of the following: yields or prices of investments of comparable quality, type of issue, coupon, maturity and rating, market quotes or indications of value from security dealers, evaluations of anticipated cash flows or collateral, general market conditions and other information and analysis, including the obligor’s credit characteristics considered relevant. In pricing certain securities, particularly less liquid and lower quality securities, the pricing service may consider information about a security, its issuer or market activity provided by Advisors. These securities are generally classified as Level 2.

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Notes to financial statements

exchange on the valuation date. 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. To the extent these securities are actively traded and that valuation adjustments are not applied, they are categorized as Level 1. If there is no official close of business, then the latest available sale price is utilized. If no sales are reported, then the mean of the latest available bid and asked prices is utilized and the securities are generally classified as Level 2.

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. These foreign securities are generally classified as Level 2.

The Money Market Fund: The Money Market Fund’s portfolio securities are valued on an amortized cost basis. Money Market investments are generally classified as Level 2.

Investments in registered investment companies: Investments in investment companies are valued at their respective NAVs on the valuation date and are generally classified as Level 1.

Futures contracts: Futures contracts are valued using the closing settlement price and are generally classified as Level 1.

Forward foreign currency contracts: Forward foreign currency contracts are valued using the prevailing forward exchange rate which is derived from quotes provided by the pricing service using the procedures approved by the Board and are classified as Level 2.

Swap contracts: Swap contracts are marked-to-market daily based upon a price supplied by a pricing service. Swaps are generally classified as Level 2.

Any portfolio security or derivative 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. As a general principle, the fair value of a security would appear to be the amount that the owner might reasonably expect to receive for it in a current sale. A variety of factors may be considered in determining the fair value of such securities, which may include consideration of the following: yields or prices of investments of comparable quality, type of issue, coupon, maturity and rating, market quotes or indications of value from security dealers, evaluations of anticipated cash flows or collateral, general market conditions and other information and analysis, including the obligor’s credit characteristics considered relevant. To the extent the inputs are observable and timely, the values would be classified as Level 2; otherwise they would be classified as Level 3.

As of March 31, 2021, 100% of the value of investments in the Short Duration Impact Bond Fund and Money Market Fund were valued based on Level 2 inputs.

The following table summarizes the market value of the Funds’ investments as of March 31, 2021, based on the inputs used to value them:

Fund	Level 1		Level 2			Level 3		Total
Bond Index
Corporate bonds	$	—	$	5,220,271,520		$	—	$	5,220,271,520
Government bonds		—		13,641,885,085			—		13,641,885,085
Structured assets		—		533,305,520			—		533,305,520
Short-term investments		47,264,181		420,761,105			—		468,025,286
Total	$	47,264,181	$	19,816,223,230		$	—	$	19,863,487,411
Core Bond
Bank loan obligations	$	—	$	208,193,382		$	—	$	208,193,382
Corporate bonds		—		3,492,549,605			1,953,812		3,494,503,417
Government bonds		—		3,487,780,805			1,368,413		3,489,149,218
Structured assets		—		1,299,833,903			4,383,078		1,304,216,981
Common stocks		—		696,909			—		696,909
Preferred stocks		9,975,000		—			—		9,975,000
Short-term investments		21,209,160		1,445,302,875			—		1,466,512,035
Forward foreign currency contracts**		—		94,277			—		94,277
Credit default swap contracts**		—		(189,569	)		—		(189,569	)
Total	$	31,184,160	$	9,934,262,187		$	7,705,303	$	9,973,151,650
Core Impact Bond
Bank loan obligations	$	—	$	7,683,976		$	24,594	$	7,708,570
Corporate bonds		—		2,645,949,286			—		2,645,949,286
Government bonds		—		2,815,033,914			11,947,282		2,826,981,196
Structured assets		—		577,645,244			6,101,012		583,746,256
Preferred stocks		64,743,010		—			—		64,743,010
Short-term investments		47,966,951		919,685,546			—		967,652,497
Forward foreign currency contracts**		—		506,034			—		506,034
Total	$	112,709,961	$	6,966,504,000		$	18,072,888	$	7,097,286,849

90	2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

continued

Fund	Level 1		Level 2			Level 3		Total
Core Plus Bond
Bank loan obligations	$	—	$	175,784,158		$	—	$	175,784,158
Corporate bonds		—		2,329,742,134			1,730,291		2,331,472,425
Government bonds		—		1,936,037,444			4,189,004		1,940,226,448
Structured assets		—		898,361,208			12,871,416		911,232,624
Common stocks		—		1,765,198			15		1,765,213
Preferred stocks		18,253,132		—			—		18,253,132
Short-term investments		8,330,743		796,507,973			—		804,838,716
Forward foreign currency contracts**		—		70,707			—		70,707
Credit default swap contracts**		—		(879,095	)		—		(879,095	)
Total	$	26,583,875	$	6,137,389,727		$	18,790,726	$	6,182,764,328
5–15 Year Laddered Tax-Exempt Bond
Long-term municipal bonds	$	—	$	271,391,083		$	1,892,360	$	273,283,443
Total	$	—	$	271,391,083		$	1,892,360	$	273,283,443
Green Bond
Bank loan obligations	$	—	$	498,960		$	—	$	498,960
Corporate bonds		—		22,767,134			—		22,767,134
Government bonds		—		14,173,393			—		14,173,393
Structured assets		—		10,346,095			249,962		10,596,057
Preferred stocks		1,434,120		—			—		1,434,120
Short-term investments		—		1,312,000			—		1,312,000
Total	$	1,434,120	$	49,097,582		$	249,962	$	50,781,664
High-Yield
Bank loan obligations	$	—	$	377,016,613		$	—	$	377,016,613
Corporate bonds		—		3,210,067,471			1,371,696		3,211,439,167
Common stocks		—		—			80		80
Rights / Warrants		—		—			12,643		12,643
Short-term investments		40,248,079		138,360,678			—		178,608,757
Total	$	40,248,079	$	3,725,444,762		$	1,384,419	$	3,767,077,260
Inflation-Linked Bond
Government bonds	$	—	$	3,395,447,304		$	—	$	3,395,447,304
Short-term investments		713		23,401,915			—		23,402,628
Futures contracts**		351,072		—			—		351,072
Total	$	351,785	$	3,418,849,219		$	—	$	3,419,201,004
Short-Term Bond
Bank loan obligations	$	—	$	35,663,564		$	—	$	35,663,564
Corporate bonds		—		743,417,200			—		743,417,200
Government bonds		—		769,152,291			—		769,152,291
Structured assets		—		492,363,920			3,461,312		495,825,232
Short-term investments		1,300,874		107,847,405			—		109,148,279
Futures contracts**		1,806,510		—			—		1,806,510
Total	$	3,107,384	$	2,148,444,380		$	3,461,312	$	2,155,013,076
Short-Term Bond Index
Corporate bonds	$	—	$	251,130,647		$	—	$	251,130,647
Government bonds		—		809,300,839			—		809,300,839
Short-term investments	$	48,683,289		6,750,000			—		55,433,289
Total	$	48,683,289	$	1,067,181,486		$	—	$	1,115,864,775

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

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.

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 lending: Certain Funds may lend their securities to qualified institutional borrowers to earn additional income. A Fund receives collateral (in the form of cash, Treasury securities or other collateral permitted by applicable law) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of loaned securities during the period of the loan; any additional collateral required due to changes in security values is delivered to the Fund the next business day. Cash collateral received by the Fund will generally be invested in high-quality short-term instruments or in one or

TIAA-CREF Funds: Fixed-Income Funds ■ 2021 Annual Report

Notes to financial statements

more funds maintained by the securities lending agent (“Agent”) for the purpose of investing cash collateral.

The value of the loaned securities and the liability to return the cash collateral received are reflected in the Statements of assets and liabilities. Non-cash collateral is not disclosed in the Funds’ Statements of assets and liabilities as it is held by the lending agent on behalf of the Funds, and the Funds do not have the ability to sell or re-hypothecate those securities.

As of March 31, 2021, securities lending transactions (with the exception of Core Impact Bond Fund and Core Plus Bond Fund) are for fixed income securities, and the resulting loans are continuous, can be recalled at any time, and have no set maturity. For the Core Impact Bond Fund and the Core Plus Bond Fund all loans from securities lending activity are continuous, can be recalled at any time, and have no set maturity. As of March 31, 2021, the Core Impact Bond Fund has $46,316,241 related to fixed income securities and $560,294 related to equity securities. The Core Plus Bond Fund has $8,109,304 related to fixed income securities and $5,630 related to equity securities. Securities lending income recognized by the Funds consists of earnings on invested collateral and lending fees, net of any rebates to the borrower and compensation to the Agent. Such income is reflected separately in the Statements of operations. In lending its securities, a Fund bears the market risk with respect to the investment of collateral and the risk that the Agent may default on its contractual obligations to the Fund. The Agent bears the risk that the borrower may default on its obligation to return the loaned securities as the Agent is contractually obligated to indemnify the Fund if at the time of a default by a borrower some or all of the loan securities have not been returned.

As of March 31, 2021, the total value of securities on loan and the total value of collateral received were as follows:

Fund	Aggregate value of securities on loan		Cash collateral received*		Non-cash collateral received		Total collateral received
Bond Index	$	48,044,994	$	47,264,181	$	1,922,665	$	49,186,846
Core Bond		20,582,500		21,209,160		—		21,209,160
Core Impact Bond		46,876,535		47,966,951		—		47,966,951
Core Plus Bond		8,114,934		8,330,743		—		8,330,743
High-Yield		38,661,785		40,248,079		—		40,248,079
Inflation-Linked Bond		—		713		—		713
Short-Term Bond		1,271,445		1,300,874		—		1,300,874
Short-Term Bond Index		47,703,659		48,683,289		—		48,683,289

*	May include cash and investment of cash collateral

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.

Unfunded commitments: Pursuant to the terms of certain loan agreements, the Funds may have unfunded loan commitments. Unfunded commitments are contractual obligations pursuant to which a Fund agrees to invest in a loan at a future date. Each Fund segregates short-term securities or cash having an aggregate value at least equal to the amount of the unfunded loan commitments. If a Fund has unfunded commitments at the end of the reporting period, such amounts are recognized on the Statements of assets and liabilities as “Payable for unfunded loan commitments.”

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 year ended March 31, 2021 were as follows:

Fund	Non-U.S. government purchases		U.S. government purchases		Non-U.S. government sales		U.S. government sales
Bond Index	$	2,342,244,645	$	8,175,636,165	$	1,214,564,997	$	3,912,132,792
Core Bond		3,178,636,851		16,354,667,835		2,429,136,814		14,315,715,817
Core Impact Bond		3,670,529,383		14,343,939,795		3,698,704,527		12,903,565,613
Core Plus Bond		2,207,243,342		7,454,145,460		1,703,238,632		6,754,839,088
5–15 Year Laddered Tax-Exempt Bond		64,715,376		—		62,024,118		—
Green Bond		29,653,880		1,444,834		12,795,579		1,203,962
High-Yield		3,107,277,315		—		2,836,119,032		—
Inflation-Linked Bond		45,428		937,474,214		23,245,116		1,116,410,230
Short Duration Impact Bond		29,478,263		15,414,986		28,080,542		13,063,682
Short-Term Bond		893,752,377		2,744,806,574		659,648,179		2,583,452,290
Short-Term Bond Index		245,590,680		565,030,653		125,768,679		292,538,946

Note 5—derivative investments

Each of the Funds (other than the Money Market Fund) is authorized to invest in certain derivative instruments. As defined by U.S. GAAP, a derivative is a financial instrument whose value is derived from an underlying security price, foreign exchange rate, interest rate, index of prices or rates, or other variables. The Funds record derivative instruments at fair value, with changes in fair value recognized on the Statements of operations, when applicable.

At March 31, 2021, the following Funds have invested in derivative contracts which are reflected in the Statements of assets and liabilities as follows:

92	2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

continued

Asset derivatives

Liabilities derivatives

Derivative contract

Location

Fair value
amount

Location

Fair value
amount

Core Bond Fund

Foreign-exchange contracts

Forward foreign currency contracts

94,277

Credit contracts

Credit default swap contracts*

(189,569

)

Core Impact Bond Fund

Foreign-exchange contracts

Forward foreign currency contracts

506,034

Core Plus Bond Fund

Foreign-exchange contracts

Forward foreign currency contracts

70,707

Credit contracts

Credit default swap contracts*

(879,095

)

Inflation Linked Bond Fund

Interest-rate contracts

Futures contracts*

351,072

Short-Term Bond Fund

Interest-rate contracts

Futures contracts*

1,806,510

*	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.

For the year ended March 31, 2021, the effect of derivative contracts on the Funds’ Statements of operations was as follows:

Derivative contracts	Location	Realized gain (loss		)	Change in unrealized appreciation (depreciation		)
Core Bond Fund
Interest-rate contracts	Futures contracts	$	17,246		$	(15,514	)
Foreign-exchange contracts	Forward foreign currency contracts		(450,240	)		129,989
Credit contracts	Swap contracts		408,498			(626,933	)
Core Impact Bond Fund
Foreign-exchange contracts	Forward foreign currency contracts		(1,233,960	)		538,806
Core Plus Bond Fund
Interest-rate contracts	Futures contracts		1,115,866			(454,835	)
Foreign-exchange contracts	Forward foreign currency contracts		(538,588	)		120,039
Credit contracts	Swap contracts		(1,320,469	)		(879,095	)
High-Yield Fund
Credit contracts	Swap contracts		(40,129	)		—
Inflation-Linked Bond Fund
Interest-rate contracts	Futures contracts		311,076			351,072
Short-Term Bond Fund
Interest-rate contracts	Futures contracts		993,730			2,775,766

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 year ended March 31, 2021, the Inflation-Linked Bond Fund and Short-Term Bond Fund had exposure to futures contracts, based on underlying notional values, generally between 0% and 3% of net assets. The futures contracts outstanding as of March 31, 2021 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 year ended March 31, 2021, the Core Bond Fund, Core Impact Bond Fund, and Core Plus Bond Fund had exposure to forward contracts, based on underlying notional values, generally less than 1% of net assets. The forward contracts outstanding as of March 31, 2021 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

TIAA-CREF Funds: Fixed-Income Funds ■ 2021 Annual Report

Notes to financial statements

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. 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 year ended March 31, 2021, Core Bond Fund, Core Plus Bond Fund and High-Yield Fund had exposure to credit default swap contracts, based on underlying notional values, generally less than 1% of net assets. The credit default swap contracts outstanding as of March 31, 2021 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.

For the year ended March 31, 2021, permanent book and tax differences resulting primarily from differing treatments for foreign currency transactions, distribution reallocations, deflation adjustments on Treasury Inflation-Protected Securities, and treatment of notional principal contracts were identified and reclassified among the components of the Funds’ net assets. Net investment income and net realized gains (losses), as disclosed on the Statements of operations, and net assets were not affected by these reclassifications.

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.

			Gross		Gross			Net unrealized
	Tax		unrealized		unrealized			appreciation
Fund	cost		appreciation		(depreciation		)	(depreciation		)
Bond Index	$	19,359,404,722	$	749,055,927	$	(244,973,238	)	$	504,082,689
Core Bond		9,836,662,556		230,243,781		(93,754,687	)		136,489,094
Core Impact Bond		7,066,289,905		129,684,227		(98,687,283	)		30,996,944
Core Plus Bond		6,116,908,227		154,158,336		(88,302,235	)		65,856,101
5–15 Year Laddered Tax-Exempt Bond		260,300,066		16,729,623		(3,746,246	)		12,983,377
Green Bond		49,862,324		1,563,700		(644,360	)		919,340
High-Yield		3,645,971,016		155,727,555		(34,621,311	)		121,106,244
Inflation-Linked Bond		3,157,128,556		268,623,729		(6,551,282	)		262,072,447
Short Duration Impact Bond		32,379,476		573,657		(62,680	)		510,977
Short-Term Bond		2,139,226,264		26,588,382		(10,801,570	)		15,786,812
Short-Term Bond Index		1,109,165,014		7,714,659		(1,014,898	)		6,699,761

94	2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

continued

Distributions to shareholders: The tax character of distributions paid to shareholders during the years ended March 31, 2021 and March 31, 2020 was as follows:

	3/31/2021						3/31/2020
	Ordinary		Long-term				Ordinary		Long-term
Fund	income		capital gains		Total		income		capital gains		Total
Bond Index	$	419,556,131	$	100,895,056	$	520,451,187	$	426,960,742	$	—	$	426,960,742
Core Bond		233,661,988		89,759,845		323,421,833		203,596,231		—		203,596,231
Core Impact Bond		178,604,823		74,943,246		253,548,069		141,039,553		2,331,063		143,370,616
Core Plus Bond		155,318,760		27,847,508		183,166,268		148,054,559		—		148,054,559
5–15 Year Laddered Tax-Exempt Bond*		5,473,935		836,536		6,310,471		6,414,050		300,993		6,715,043
Green Bond		1,185,576		561,798		1,747,374		1,205,000		—		1,205,000
High-Yield		194,600,276		—		194,600,276		212,704,986		—		212,704,986
Inflation-Linked Bond		49,129,669		—		49,129,669		72,093,009		—		72,093,009
Short Duration Impact Bond		821,666		45,126		866,792		908,482		—		908,482
Short-Term Bond		36,171,093		—		36,171,093		57,680,033		—		57,680,033
Short-Term Bond Index		11,299,288		2,198,903		13,498,191		13,803,727		—		13,803,727
Money Market		1,478,097		—		1,478,097		25,742,822		—		25,742,822

*	Includes ordinary income which will not be taxable for federal income tax purposes in 2021 and 2020 of $5,363,478 and $5,957,902, respectively.

Components of accumulated earnings: As of March 31, 2021, the components of accumulated earnings on a tax basis were as follows:

	Undistributed			Undistributed
	(overdistributed		)	(overdistributed		)	Unrealized			Capital
	ordinary			long-term			appreciation			loss			Late-year
Fund	income			capital gains			(depreciation		)	carryover			loss deferrals			Total
Bond Index	$	12,791,779		$	15,464,852		$	504,082,689		$	—		$	—		$	532,339,320
Core Bond		6,535,163			31,748,129			136,477,381			—			(18,121,149	)		156,639,524
Core Impact Bond		3,029,362			—			30,998,987			—			(15,938,674	)		18,089,675
Core Plus Bond		12,306,224			68,613,099			65,850,600			—			—			146,769,923
5–15 Year Laddered Tax-Exempt Bond		533,054			819,383			12,983,377			—			—			14,335,814
Green Bond		—			250,000			919,340			—			(73,632	)		1,095,708
High-Yield		3,956,438			—			121,106,244			(290,643,464	)		—			(165,580,782	)
Inflation-Linked Bond		10,022,862			23,890,971			262,072,448			—			—			295,986,281
Short Duration Impact Bond		71,550			123,385			510,977			—			—			705,912
Short-Term Bond		2,628,535			—			15,786,812			—			—			18,415,347
Short-Term Bond Index		763,883			2,562,971			6,699,762			—			—			10,026,616
Money Market		46,505			—			—			—			—			46,505

The difference between book basis and tax basis net investment income, net realized gains and losses, and unrealized appreciation and depreciation is attributable primarily to the tax deferral of losses on wash sales, the tax deferral of straddle losses, the tax deferral of deflationary adjustments associated with Treasury Inflation-Protected Securities, and the treatment of short term gain as ordinary income for tax purposes.

Capital loss carryovers: At March 31, 2021, the following Fund had capital loss carryovers, which will not expire:

Fund		Short-term				Long-term				Total
High-Yield		$	38,341,459			$	252,302,005			$	290,643,464

For the year ended March 31, 2021, Inflation-Linked Bond, Short-Term Bond, and Short-Term Bond Index Funds utilized $11,020,727, $3,390,735, and $1,312,706 of their capital loss carryovers available. The capital loss carryover for the Inflation-Linked Bond, Short-Term Bond, and Short-Term Bond Index Funds were reduced to zero as a result of this utilization.

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 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

TIAA-CREF Funds: Fixed-Income Funds ■ 2021 Annual Report

Notes to financial statements

(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 or other transactional expenses, acquired fund fees and expenses and extraordinary expenses) exceeds certain percentages. As of March 31, 2021, 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
	Investment			management
	management			fee—effective			Service
	fee range			rate			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	^f		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	^g		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			0.24			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 May 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 May 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 May 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 May 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 May 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.
^f	Effective May 1, 2020, Advisors agreed to voluntarily waive a portion of the investment management fee for the High-Yield Fund. The investment management fee range after the waiver is 0.285%–0.335% of daily average net assets. This waiver is voluntary in nature and can be discontinued at any time without prior notice to shareholders upon Board approval.
^g	Effective May 1, 2020, Advisors agreed to voluntarily waive a portion of the investment management fee for the Inflation-Linked Bond Fund. The investment management fee range after the waiver is 0.180%–0.230% of daily average net assets. This waiver is voluntary in nature and can be discontinued at any time without prior notice to shareholders upon Board approval.

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 the year ended March 31, 2021, these transactions did not materially impact the Funds.

96	2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

concluded

As of March 31, 2021, a registered separate account of TIAA (collectively, “TIAA Access”) has various sub accounts that invest in the Funds, and certain funds within 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 March 31, 2021:

							TIAA-CREF						TIAA-CREF
				TIAA-CREF			Lifecycle Index			TIAA-CREF			Managed
Underlying Fund	TIAA			Lifecycle Funds			Funds			Lifestyle Funds			Allocation Fund			TIAA Access			Total
Bond Index		—	%		—	%		46	%		—	%		—	%		1	%		47	%
Core Bond		—			55			—			1			—			—			56
Core Plus Bond		—			55			—			8			7			2			72
Green Bond		52			—			—			—			—			—			52
High-Yield		—			12			—			—			—			4			16
Inflation-Linked Bond		—			28			23			—			—			—			51
Short Duration Impact Bond		78			—			—			—			—			—			78
Short-Term Bond		—			44			—			5			—			2			51
Short-Term Bond Index		—			—			74			—			—			—			74
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 March 31, 2021, one 529 Plan owned 5% of the High-Yield Fund; one 529 Plan owned 7% of the Bond Index Fund; three 529 Plans owned 12%, 6%, and 6%, respectively, of the Inflation-Linked Bond Fund; and one 529 Plan owned 6% of the Money Market 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 year ended March 31, 2021, there were no inter-fund borrowing or lending transactions.

Note 9—line of credit

Each of the Funds, except the Money Market Fund, participates 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 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 year ended March 31, 2021, there were no borrowings under this credit facility by the Funds.

Note 10—subsequent event

Advisors has agreed to implement voluntary waivers reducing the management fee breakpoint schedules for several Funds for one year effective May 1, 2021. These waivers are voluntary in

nature and can be discontinued at any time without prior notice to shareholders upon Board approval. During this one-year period the range paid to Advisors is as follows:

			Investment
			management
Fund	Waiver		fee range
High-Yield	0.015	%	0.285%–0.335	%
Inflation-Linked Bond	0.020		0.180–0.230

Also, Advisors has agreed to implement voluntary waivers reducing the expense cap for several Funds for one year effective May 1, 2021. These waivers are voluntary in nature and can be discontinued at any time without prior notice to shareholders upon Board approval. During this one-year period, the expense cap after the waiver for each Fund is as follows:

				Maximum
Fund	Waiver			expense amounts
Green Bond – Premier Class		0.015	%		0.585	%
Green Bond – Retirement Class		0.115			0.585
Green Bond – Retail Class		0.075			0.725
High-Yield – Institutional Class		0.015			0.385
High-Yield – Advisor Class		0.015			0.535
High-Yield – Premier Class		0.015			0.535
High-Yield – Retirement Class		0.015			0.635
High-Yield – Retail Class		0.015			0.735
High-Yield – Class W		0.015			0.385
Inflation-Linked Bond – Institutional Class		0.020			0.280
Inflation-Linked Bond – Advisor Class		0.020			0.430
Inflation-Linked Bond – Premier Class		0.020			0.430
Inflation-Linked Bond – Retirement Class		0.020			0.530
Inflation-Linked Bond – Retail Class		0.020			0.630
Inflation-Linked Bond – Class W		0.020			0.280
Short Duration Impact Bond – Institutional Class		0.005			0.345
Short Duration Impact Bond – Retirement Class		0.030			0.570
Short Duration Impact Bond – Retail Class		0.095			0.605
Money Market – Premier Class		0.060			0.240
Money Market – Retirement Class		0.160			0.240
Money Market – Retail Class		0.105			0.395

TIAA-CREF Funds: Fixed-Income Funds ■ 2021 Annual Report

Report of independent registered public accounting firm

To the Board of Trustees of TIAA-CREF Funds and Shareholders of TIAA-CREF Bond Index Fund, TIAA-CREF Core Bond Fund, TIAA-CREF Core Impact Bond Fund, TIAA-CREF Core Plus Bond Fund, TIAA-CREF 5–15 Year Laddered Tax-Exempt Bond Fund, TIAA-CREF Green Bond Fund, TIAA-CREF High-Yield Fund, TIAA-CREF Inflation-Linked Bond Fund, TIAA-CREF Short Duration Impact Bond Fund, TIAA-CREF Short-Term Bond Fund, TIAA-CREF Short-Term Bond Index Fund, and TIAA-CREF Money Market Fund

Opinions on the Financial Statements

We have audited the accompanying statements of assets and liabilities, including the summary portfolios of investments, of TIAA-CREF Bond Index Fund, TIAA-CREF Core Bond Fund, TIAA-CREF Core Impact Bond Fund, TIAA-CREF Core Plus Bond Fund, TIAA-CREF 5–15 Year Laddered Tax-Exempt Bond Fund, TIAA-CREF Green Bond Fund, TIAA-CREF High-Yield Fund, TIAA-CREF Short Duration Impact Bond Fund, TIAA-CREF Short-Term Bond Fund, TIAA-CREF Short-Term Bond Index Fund, and TIAA-CREF Money Market Fund, and portfolio of investments, of TIAA-CREF Inflation-Linked Bond Fund (twelve of the funds constituting TIAA-CREF Funds, hereafter collectively referred to as the “Funds”) as of March 31, 2021, the related statements of operations for the year ended March 31, 2021, the statements of changes in net assets for each of the two years in the period ended March 31, 2021, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of March 31, 2021, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended March 31, 2021, and each of the financial highlights for each of the periods indicated therein, in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinions

These financial statements are the responsibility of the Funds’ management. Our responsibility is to express an opinion on the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of March 31, 2021 by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

/s/ PricewaterhouseCoopers LLP

Baltimore, Maryland

May 21, 2021

We have served as the auditor of one or more investment companies in TIAA-CREF Funds’ investment company group since 2005.

98	2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

Important tax information (unaudited)

For the year ended March 31, 2021, the TIAA-CREF Funds designate the following distribution amounts (or the maximum amount allowable) as being from net long-term capital gains.

	Long-term
Fund	capital gains
Bond Index	$	100,895,056
Core Bond		89,759,845
Core Impact Bond		74,943,246
Core Plus Bond		27,847,508
5–15 Year Laddered Tax-Exempt Bond		836,536
Green Bond		561,798
High-Yield		—
Inflation-Linked Bond		—
Short Duration Impact Bond		45,126
Short-Term Bond		—
Short-Term Bond Index		2,198,903
Money Market		—

The 5–15 Year Laddered Tax-Exempt Bond Fund paid distributions to shareholders during the year ended March 31, 2021 and the year ended March 31, 2020, totaling $6,310,471 and $6,715,043, of which $5,363,478 and $5,957,902, respectively, were exempt from federal income tax and have been designated as Exempt Interest Dividends.

Each Fund listed below had the following percentage, or maximum amount allowable, of ordinary dividends treated as Section 163(j) interest dividends pursuant to Section 163(j) of the Internal Revenue Code:

Fund	Percentage
Bond Index		90.4	%
Core Bond		76.7
Core Impact Bond		62.1
Core Plus Bond		88.8
Green Bond		80.1
High-Yield		97.7
Inflation-Linked Bond		100.0
Short Duration Impact Bond		76.4
Short-Term Bond		94.9
Short-Term Bond Index		98.8
Money Market		100.0

The Funds hereby designate their percentages of dividends paid from net ordinary income as dividends qualifying as Interest-Related Dividends and/or short-term capital gain dividends as defined in Internal Revenue Code Section 871(k) for the taxable periods ending December 31, 2020 and March 31, 2021.

	4/1/2020–			1/1/2021–
Fund	12/31/2020			3/31/2021
Bond Index		89.3	%		88.9	%
Core Bond		78.3			74.6
Core Impact Bond		75.6			73.3
Core Plus Bond		75.9			67.6
Green Bond		66.0			65.7
High-Yield		83.5			86.5
Inflation-Linked Bond		99.4			96.1
Short Duration Impact Bond		71.8			69.8
Short-Term Bond		65.2			61.9
Short-Term Bond Index		84.8			82.7
Money Market		99.9			99.7

By early 2022, shareholders should receive their Form 1099-DIV and a tax information letter from the Funds. For your specific situation, we recommend that you consult a professional tax advisor.

TIAA-CREF Funds: Fixed-Income Funds ■ 2021 Annual Report

Trustees and officers (unaudited)

TIAA-CREF Funds ■ May 12, 2021

Trustees

Name, Address and Year of Birth (“YOB”)	Position(s) Held with Fund	Term of Office and Length of Time Served	Principal Occupation(s) During Past 5 Years	Number of Portfolios in Fund Complex Overseen by Trustee	Other Directorship(s) Held by Trustee
Forrest Berkley c/o Corporate Secretary 730 Third Avenue New York, NY 10017-3206 YOB: 1954	Trustee	Indefinite term. Trustee since 2006.	Retired Partner (since 2006), Partner (1990–2005) and Head of Global Product Management (2003–2005), GMO (formerly, Grantham, Mayo, Van Otterloo & Co.) (investment management); and member of asset allocation portfolio management team, GMO (2003–2005).	88	Director, Save the Children Federation, Inc.; Investment Committee Member, Maine Community Foundation.
Joseph A. Boateng c/o Corporate Secretary 730 Third Avenue New York, NY 10017-3206 YOB: 1963	Trustee	Indefinite term. Trustee since 2019.	Chief Investment Officer, Casey Family Programs (since 2007). Director of U.S. Pension Plans at Johnson & Johnson (2002–2006). Manager, Financial Services Consultant, KPMG Consulting (2000–2002).	88	Board Member, Lumina Foundation and Waterside School; Investment Advisory Committee Chair, Seattle City Employees’ Retirement System; Investment Committee Member, The Seattle Foundation.
Janice C. Eberly c/o Corporate Secretary 730 Third Avenue New York, NY 10017-3206 YOB: 1962	Trustee	Indefinite term. Trustee since 2018.	James R. and Helen D. Russell Professor of Finance at the Kellogg School of Management, Northwestern University (2002–2011 and since 2013), Senior Associate Dean for Strategy and Academics (since 2020) and Chair of the Finance Department (2005–2007). Assistant Secretary for Economic Policy, United States Department of the Treasury (2011–2013).	88	Member of the Board of the Office of Finance, Federal Home Loan Banks; Director, Avant, LLC; Member of the Executive Board, American Economic Association.
Nancy A. Eckl c/o Corporate Secretary 730 Third Avenue New York, NY 10017-3206 YOB: 1962	Trustee	Indefinite term. Trustee since 2007.	Vice President (1990–2006), American Beacon Advisors, Inc., and of certain funds advised by American Beacon Advisors, Inc.	88	Independent Director, The Lazard Funds, Inc., Lazard Retirement Series, Inc., and Lazard Global Total Return and Income Fund, Inc.
Michael A. Forrester c/o Corporate Secretary 730 Third Avenue New York, NY 10017-3206 YOB: 1967	Trustee	Indefinite term. Trustee since 2007.	Chief Executive Officer (2014–2021) and Chief Operating Officer (2007–2014), Copper Rock Capital Partners, LLC. Chief Operating Officer, DDJ Capital Management (2003–2006).	88	Trustee, Dexter Southfield School; Member, Governing Council of the Independent Directors Council.
Howell E. Jackson c/o Corporate Secretary 730 Third Avenue New York, NY 10017-3206 YOB: 1954	Trustee	Indefinite term. Trustee since 2005.	James S. Reid, Jr. Professor of Law (since 2004), Senior Advisor to President and Provost (2010–2012), Acting Dean (2009), Vice Dean for Budget (2003–2006) and on the faculty (since 1989) of Harvard Law School.	88	Director, Commonwealth (non-profit organization).
Thomas J. Kenny c/o Corporate Secretary 730 Third Avenue New York, NY 10017-3206 YOB: 1963	Chairman of the Board and Trustee	Indefinite term. Trustee since 2011; Chairman for term ending June 30, 2023. Chairman since September 13, 2017.	Advisory Director (2010–2011), Partner (2004–2010), Managing Director (1999–2004) and Co-Head of Global Cash and Fixed Income Portfolio Management Team (2002–2010), Goldman Sachs Asset Management.	88	Director and Chair of the Finance and Investment Committee, Aflac Incorporated; Director and Investment Committee Member, Sansum Clinic; Director, ParentSquare; Member, University of California at Santa Barbara Arts and Lectures Advisory Council.
James M. Poterba c/o Corporate Secretary 730 Third Avenue New York, NY 10017-3206 YOB: 1958	Trustee	Indefinite term. Trustee since 2006.	President and Chief Executive Officer (since 2008) and Program Director (1990–2008), National Bureau of Economic Research. Mitsui Professor of Economics, Massachusetts Institute of Technology (“MIT”) (since 1996); Affiliated Faculty Member of the Finance Group, Alfred P. Sloan School of Management (since 2014); Head (2006–2008) and Associate Head (1994–2000 and 2001–2006), Economics Department of MIT.	88	Director, National Bureau of Economic Research; Trustee, Alfred P. Sloan Foundation; Member, Congressional Budget Office Panel of Economic Advisers.

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Trustees — concluded

Name, Address and Year of Birth (“YOB”)	Position(s) Held with Fund	Term of Office and Length of Time Served	Principal Occupation(s) During Past 5 Years	Number of Portfolios in Fund Complex Overseen by Trustee	Other Directorship(s) Held by Trustee
Maceo K. Sloan c/o Corporate Secretary 730 Third Avenue New York, NY 10017-3206 YOB: 1949	Trustee	Indefinite term. Trustee since 1999.	Chairman, President and Chief Executive Officer, Sloan Financial Group, Inc. (1991–2018); Chairman and Chief Executive Officer (1991–2016), Chief Investment Officer (1991–2013) and Chief Compliance Officer (2015–2016), NCM Capital Management Group, Inc.; Chairman, Chief Executive Officer (2003–2016), Chief Investment Officer (2003–2013) and Chief Compliance Officer (2015–2016), NCM Capital Advisers, Inc.; and Chairman, President and Principal Executive Officer, NCM Capital Investment Trust (2007–2012).	88	Director, TheraTrue Inc.
Laura T. Starks c/o Corporate Secretary 730 Third Avenue New York, NY 10017-3206 YOB: 1950	Trustee	Indefinite term. Trustee since 2006.	Charles E. and Sarah M. Seay Regents Chair in Finance (since 2002), Co-Executive Director, Social Innovation Initiative (since 2015), Director, AIM Investment Center (2000–2016), Associate Dean for Research (2011–2016), Chairman, Department of Finance (2002–2011) and Professor (since 1987), McCombs School of Business, University of Texas at Austin. President (2019–2020), Vice President (2013–2018), Society of Financial Studies. President (since 2020), Vice President (2019–2020) American Finance Association.	88	Texa$aver Product Committee Member, Employees Retirement System of Texas.

Officers

Name, Address and Year of Birth (“YOB”)	Position(s) Held with Fund	Term of Office and Length of Time Served	Principal Occupation(s) During Past 5 Years
Richard S. Biegen TIAA 730 Third Avenue New York, NY 10017-3206 YOB: 1962	Chief Compliance Officer	One-year term. Chief Compliance Officer since 2008.	Senior Managing Director, TIAA. Chief Compliance Officer of the College Retirement Equities Fund (“CREF”), TIAA Separate Account VA-1, TIAA-CREF Funds and TIAA-CREF Life Funds (collectively, the “TIAA-CREF Fund Complex”).
Derek B. Dorn TIAA 730 Third Avenue New York, NY 10017-3206 YOB: 1976	Senior Managing Director and Corporate Secretary	One-year term. Senior Managing Director and Corporate Secretary since 2020.	Senior Managing Director and Corporate Secretary of TIAA and the TIAA-CREF Fund Complex. Formerly, Managing Director, Special Assistant to the CEO, and Managing Director, Regulatory Affairs, TIAA. Prior to joining TIAA, Mr. Dorn served as a partner at Davis & Harman LLP and an adjunct professor of Law at Georgetown University Law Center.
Bradley Finkle TIAA 730 Third Avenue New York, NY 10017-3206 YOB: 1973	Principal Executive Officer and President	One-year term. Principal Executive Officer and President since 2017.	Chief Operating Officer, Nuveen. Principal Executive Officer and President of the TIAA-CREF Funds and TIAA-CREF Life Funds. Chief Executive Officer and President of CREF and TIAA Separate Account VA-1. Formerly, Senior Managing Director, Co-Head Nuveen Equities & Fixed Income and President of TIAA Investments.
Jose Minaya TIAA 730 Third Avenue New York, NY 10017-3206 YOB: 1971	Executive Vice President	One-year term. Executive Vice President since 2018.	Chief Executive Officer, Nuveen. Executive Vice President of the TIAA-CREF Fund Complex. Formerly, Executive Vice President, President and Chief Investment Officer, Nuveen; Executive Vice President, Chief Investment Officer and President, Nuveen Global Investments; and Senior Managing Director, President, Global Investments, TIAA.
David Nason TIAA 730 Third Ave. New York, NY 10017-3206 YOB: 1970	Executive Vice President	One-year term. Executive Vice President since 2020.	Senior Executive Vice President, Chief Legal, Risk and Compliance Officer of TIAA. Executive Vice President of the TIAA-CREF Fund Complex. Formerly, Executive Vice President, Chief Risk and Compliance Officer, TIAA. Prior to joining TIAA, Mr. Nason served as President and CEO of GE Energy Financial Services.

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Trustees and officers (unaudited)

concluded

TIAA-CREF Funds ■ May 12, 2021

Officers — concluded

Name, Address and Year of Birth (“YOB”)	Position(s) Held with Fund	Term of Office and Length of Time Served	Principal Occupation(s) During Past 5 Years
Phillip T. Rollock TIAA 730 Third Ave. New York, NY 10017-3206 YOB: 1962	Executive Vice President and Chief Legal Officer	One-year term. Executive Vice President and Chief Legal Officer since 2018.	Executive Vice President and Chief Legal Officer of TIAA and the TIAA-CREF Fund Complex. Formerly, Executive Vice President, Deputy Chief Legal Officer, TIAA and Senior Managing Director, Senior General Counsel and Corporate Secretary of TIAA and the TIAA-CREF Fund Complex.
E. Scott Wickerham TIAA 730 Third Avenue New York, NY 10017-3206 YOB: 1973	Principal Financial Officer, Principal Accounting Officer and Treasurer	One-year term. Principal Financial Officer, Principal Accounting Officer and Treasurer since 2017.	Senior Managing Director, Head, Publics Investment Finance, Nuveen. Principal Financial Officer, Principal Accounting Officer and Treasurer of the TIAA-CREF Fund Complex; and Vice President and Controller of the Nuveen Funds. Formerly, Managing Director, Head, TC Fund Administration, Nuveen.
Sean N. Woodroffe TIAA 730 Third Avenue New York, NY 10017-3206 YOB: 1963	Executive Vice President	One-year term. Executive Vice President since 2018.	Senior Executive Vice President, Chief Human Resources Officer of TIAA, and Executive Vice President of the TIAA-CREF Fund Complex. Prior to joining TIAA, Mr. Woodroffe served as Chief People Officer at National Life Group.

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Approval of investment management agreement (unaudited)

Board renewal of the investment management agreement for certain series of the TIAA-CREF Funds

The Board of Trustees (the “Board” or the “Trustees”) of the TIAA-CREF Funds (the “Trust”) determines whether to initially approve and periodically renew the investment management agreement (the “Agreement”) between Teachers Advisors, LLC (“Advisors”) and the Trust on behalf of each series of the Trust. Under the Agreement, Advisors is responsible for providing investment advisory services to each series of the Trust and overseeing the everyday operations and other service providers of the Trust. Below is a summary of the process the Board undertook related to its most recent renewal of the Agreement with respect to each series covered by this Report (the “Funds”).

Section 15(c) of the Investment Company Act of 1940, as amended (the “1940 Act”), requires that, after an initial period of up to two years, the Agreement for each Fund will remain in effect only if the Board, including a majority of those Trustees who have no direct or indirect interest in the Agreement, and who are independent Trustees because they are not “interested persons” of the Trust, as that term is defined in the 1940 Act, annually renews the Agreement. None of the Trustees is an interested person of the Trust under the 1940 Act. Rather, they are all deemed to be independent Trustees.

Overview of the renewal process

The Board held a videoconference meeting on March 12, 2021, in order to consider the annual renewal of the Agreement with respect to each applicable Fund using the process established by the Board described further below. At the outset of the meeting, the Board considered reliance upon the SEC Order and determined that such reliance was necessary due to, among other considerations, COVID-19 pandemic-related social distancing requirements, travel restrictions and other governmental mandates imposed for health and safety reasons. The Board noted that it would ratify actions taken at this meeting pursuant to the SEC Order at its next in-person meeting.

As part of the Board’s established process, the Board delegated certain tasks to its Operations Committee. Among these tasks, the Operations Committee or certain of its designated members worked with Advisors, other Board members and legal counsel to the Trustees to develop guidance and specific requests relating to the types of information to be provided to the Board in connection with the proposed contract renewals.

Among other matters, the Operations Committee or certain of its designated members, following consultations with

representatives of Advisors, other Board members, legal counsel to the Trustees and legal counsel to Advisors and the Trust, confirmed or established certain guidance regarding the preparation of reports to be provided to the Board with respect to each Fund by the Board Reporting and Compliance unit of Broadridge Financial Solutions, Inc. (“Broadridge”), using data from Lipper, Inc., an independent provider of investment company data. The Operations Committee considered that Broadridge is widely recognized as a leading provider of comparative analyses used by independent directors and trustees of investment companies during their advisory contract review processes.

Based on guidance provided by the Operations Committee or certain of its designated members on behalf of the Board, Broadridge produced, among other information, comparative performance and expense data for each Fund, including data relating to each Fund’s management fee rate, total expense ratio, short-term and long-term investment performance and portfolio turnover rate (as applicable). Broadridge compared this data, as relevant, for each Fund against a universe of investment companies and against a more selective peer group of mutual funds with similar investment objectives and strategies, each of which was selected by Broadridge, and also compared the performance of each Fund against one or more appropriate broad-based indices. In each case, Broadridge summarized, and the Board considered, the methodologies Broadridge employed to provide the data contained in its reports. In addition, Broadridge represented to the Board that its reports were designed specifically to provide the Board with the fee, expense and performance information that is necessary to help the Board satisfy its duties under Section 15(c) of the 1940 Act. Broadridge also represented that the purpose of its reports is to provide an objective view of each Fund’s relative position regarding the level of fees, expenses and performance against a competitive peer group and universe (as applicable) selected by Broadridge (and not Advisors or the Board). The Board considered the propriety of each Fund’s applicable peer group as selected by Broadridge and use of the Institutional Class shares as the base share class for comparison purposes.

In advance of the Board meeting held on March 12, 2021, legal counsel for the Trustees requested on behalf of the Board, and Advisors provided, information that was designed to assist the Board in its consideration of whether to renew the Agreement for each Fund. In addition to the data provided by Broadridge as described above, this information included, but was not limited to, the following: (1) further information relating to each Fund’s investment performance and a narrative analysis of the performance of each Fund that had underperformed certain Board-specified criteria, together with an explanation of any events that had a material impact on the Fund’s performance during that period; (2) a description of any contractual fee rate, fee waiver or expense reimbursement arrangements that were proposed or were in place during the prior year and the extent to which such arrangements would be continued or modified in the coming year; (3) a comparison of each Fund’s management fee rate and performance to other accounts with comparable strategies managed by Advisors or certain of its affiliates; (4) any “fall-out” benefits that accrued or were identified as reasonably likely to accrue to Advisors or its affiliates due to

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their relationship with the Funds in addition to the Funds’ direct fee payments to Advisors pursuant to the Agreement; (5) information regarding Advisors’ financial resources, senior professional personnel, overall staffing levels, portfolio manager compensation arrangements, capacity to manage the Funds at current and foreseeable asset levels, insurance coverage, portfolio trading, and best execution practices, and any actual and potential conflicts of interest identified by Advisors in connection with rendering services to the Funds; (6) information as to any profits earned by Advisors in connection with its services pursuant to the Agreement; (7) a copy of the Agreement and certain related agreements between the Funds and affiliates of Advisors; (8) a copy of Advisors’ Form ADV as filed with the SEC (which was presented only to legal counsel for the Trustees); and (9) draft narrative explanations to be included in shareholder reports of reasons why the Board should renew the Agreement. The Trustees were also provided with performance ratings of Morningstar, Inc. (“Morningstar”), which is a widely recognized mutual fund ranking service. Additionally, the Board received information from management on the impact of the COVID-19 pandemic on the Teachers Insurance and Annuity Association of America (“TIAA”) enterprise generally and the Funds in particular including, among other information, the current and expected impact on the Funds’ performance and operations.

In considering whether to renew the Agreement with respect to each Fund, the Board considered various factors, including: (1) the nature, extent and quality of services provided or to be provided by Advisors to the Fund; (2) the Fund’s investment performance; (3) the costs of the services provided to the Fund and the profits realized or potential profits to be realized (if any) by Advisors from their relationship with the Fund; (4) fees charged to comparable mutual funds by other advisers; (5) the extent to which economies of scale have been realized or are anticipated to be realized as the Fund grows; (6) how such economies of scale are shared with the Fund for the benefit of its investors, such as, if applicable, through management fee breakpoints; (7) comparisons, if applicable, of the services provided by Advisors to, and the fee rates and performance of, the Fund to other clients to whom Advisors provides comparable services; and (8) any other benefits identified by Advisors derived or anticipated to be derived by Advisors or its affiliates from their relationship with the Fund. As a general matter, the Board considered these factors, and any other factors deemed relevant by the Trustees, in their totality, and no single factor was identified as being the determining factor in deciding whether to renew the Agreement.

counsel as to certain relevant guidance that relates to the renewal process under Section 15(c) of the 1940 Act and certain other legal authorities.

While the contract renewal process included a series of discussions and meetings leading up to the March 12, 2021 meeting, the oversight and evaluation of Advisors’ services to the Funds by the Board and its Committees is an ongoing process. The Board, as well as its Committees, discussed reports on various investment and operational topics that had been identified by the Board or its Committees for review in the year since the last annual renewal process. Further, at their regularly scheduled meetings, the Board and its Investment Committee and its other Committees receive and discuss information regarding the performance of the Funds and other matters. Thus, in reaching its decisions regarding the renewal of the Agreement for each Fund, the Board took into account the information described herein and other information provided to the Board and its Committees throughout the year.

The Board received and considered both Trust-level and Fund-specific information, but made its renewal determinations on a Fund-by-Fund basis. In deciding whether to renew the Agreement for each Fund, each Trustee may have accorded different weight to different factors and, thus, may have had a different basis for his or her ultimate decision to vote to renew the Agreement for each Fund. At its meeting on March 12, 2021, all Board members voted unanimously to renew the Agreement for each Fund. Set forth below is a summary of the primary factors the Board considered with respect to each Fund.

The nature, extent and quality of services

The Board considered the level and depth of knowledge of Advisors, including the professional experience and qualifications of its personnel. The Board also considered that Advisors is an experienced investment adviser that has managed the Funds since their operations commenced. Investment professionals at Advisors also manage various funds and accounts of the College Retirement Equities Fund, the TIAA-CREF Life Funds and TIAA Separate Account VA-1, as well as advise and sub-advise other investment companies and vehicles. Under the Agreement, Advisors is responsible for, among other duties: managing the assets of the Funds, including conducting research, identifying investments and placing orders to buy and sell securities for the Funds’ investment portfolios; active daily monitoring of the Funds’ investment portfolios; reporting on the investment performance and other metrics of the Funds to the Board on a regular basis; responding to Fund flows; compliance monitoring; coordinating the activities of each Fund’s service providers; and overseeing the provision of various administrative services to the Funds. The Board considered that Advisors has carried out these responsibilities in a competent and professional manner. The Board also considered that Advisors has committed significant resources to supporting the series of the Trust, including the Funds. It also considered Advisors’ compliance program and resources and its compliance record with respect to the Funds.

The Board also considered, among other factors, the performance of each Fund, as discussed below. In addition, the Board considered the nature and quality of non-portfolio management services provided by Advisors and its affiliates. In

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continued

this regard, the Board considered its ongoing review of the performance of certain affiliated and unaffiliated service providers, including the quality of services provided by those firms and Advisors’ oversight of those service providers and the outsourcing of certain services to other firms.

During its review, the Board noted its ongoing efforts to examine the level of personnel and other resources available to Advisors to provide portfolio management and other services to the Funds, including the impact of recent and anticipated regulatory requirements and operational changes on such resources, so as to assess the adequacy of the resources devoted to these services.

Investment performance

The Board considered the investment performance of each Fund, over the periods indicated in the Fund-by-Fund synopsis below. The Board considered each Fund’s performance as compared to its peer group and peer universe (as applicable) and its benchmark index or, in circumstances where a Fund’s peer group or peer universe was not viewed as a representative basis for comparison, other comparative information deemed relevant by management and/or the Board. The Board also reviewed the three-year performance of the Bond Index and Short-Term Bond Index Funds (the “Index Funds”) before any reductions for fees and expenses. In this analysis, the Board considered the impact of net asset value rounding and the effects of fair valuation, foreign exchange rates, effective tax rates, securities lending and class action litigation, as applicable on each Index Fund’s performance as compared to the performance of its benchmark index. For details regarding each Fund’s performance, see the Fund-by-Fund synopsis below.

The Board considered, in those cases in which a Fund had performed materially differently from its Broadridge peers or benchmark based on a Board-established threshold, the factors identified by Advisors that contributed to such difference and any remedial measures being undertaken by Advisors. Thus, the Board concluded that, under the totality of circumstances considered, the investment performance of each Fund was reasonable or that appropriate actions had been or were being implemented.

Cost and profitability

The Board considered financial and profitability data relating to Advisors’ services to the Funds for the calendar year 2020. The Board considered Advisors’ profit calculations with respect to its services to each Fund both before and after taking into account the costs incurred directly or indirectly by Advisors in connection with the distribution of shares of the Fund. The Board acknowledged the reasonableness of having management fee rates which permit Advisors to maintain and improve the quality of services provided to the Funds and recognized the entrepreneurial and other risks assumed by Advisors in managing the Funds. The Board considered that Advisors had calculated that it earned profits with respect to some of the Funds under the Agreement for the one-year period ended December 31, 2020. However, with respect to the Green Bond, Short-Term Bond Index, Short Duration Impact Bond, 5–15 Year Laddered Tax-Exempt Bond and Money Market Funds, Advisors calculated that it had incurred losses.

The Board considered Advisors’ voluntary reduction of certain Funds’ management fee rates: 0.015% for the High-Yield Fund and 0.020% for the Inflation-Linked Bond Fund during the year ending April 30, 2021 and Advisors commitment to continue these voluntary waivers for the year ending April 30, 2022. The Board acknowledged Advisors’ contractual reduction of the International Bond Fund’s management fees by 0.05% in 2020. The Board also considered the contractual reduction of management fees for the Bond Index Fund by 0.03% and for the Short-Term Bond Index Fund by 0.01% starting August 1, 2021 and the further contractual reduction of these fees for these Funds by 0.01% each starting August 1, 2022. The Board also acknowledged Advisors’ commitment to reimburse Fund expenses to the extent that total annual operating expenses exceeded certain specified amounts. With respect to those Funds for which the Agreement was calculated by Advisors to be profitable to Advisors in 2020, the Board concluded that those profits were reasonable in light of various relevant factors.

Fees charged by other advisers

The Board considered comparative information regarding each Fund’s contractual and effective management fee rates and the contractual and effective management fee rates paid by similar mutual funds to other advisers, as analyzed by Broadridge and reflected in the Fund-by-Fund synopsis below. The Board determined that the management fee rate charged to a Fund under the Agreement typically was lower than the management fee rates charged to many or most other comparable mutual funds. In this connection, the Board also considered the inherent limitations of such comparisons in light of uncertainty as to how the fees of such similar mutual funds are set and potentially material differences between a Fund and its comparable mutual funds. The Board considered Broadridge’s treatment of all fund fee waivers, regardless of their type, as management fee waivers, which could materially impact how the Funds’ actual management fee rates compare to those of similar mutual funds. Additionally, the Board considered the potential limitations of such comparisons due to, among other factors, the fact that, in many instances, Broadridge based its comparisons on financial data relating to fiscal periods that differed from the period for which the Fund’s data were derived. Based on all factors considered, the Board concluded that the management fee rates under the Agreement with respect to each Fund were reasonable in relation to those charged by appropriate groups of comparable mutual funds.

Economies of scale

The Board considered whether Advisors has experienced or is anticipated to experience economies of scale in connection with the operation of each Fund, and whether any such economies are shared with the Funds. The Board also considered the extent to which the current fee rate schedule breakpoints for many actively-managed Funds that were currently profitable to Advisors affected Advisors’ fees. The Board considered, in connection with the supporting Broadridge reports, Advisors’ position that the maximum fee rate that could be charged to each Fund based on its level of assets under the Agreement is comparatively low in relation to peer groups of mutual funds. The Board also considered the contractual fee reductions and one-year voluntary advisory fee waivers agreed to by Advisors,

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as noted above. Based on all factors considered, the Board concluded that the Funds’ management fee rate schedules were reasonable in light of current economies of scale considerations and current asset levels.

Fee and performance comparisons with other Advisors clients

The Board considered that Advisors and its affiliate, TIAA-CREF Investment Management, LLC, provide investment management services to other investment companies, including other mutual funds, foreign funds (UCITS), and separately managed accounts that may have similar investment strategies as certain of the Funds. In particular, the Board reviewed the management fee rates Advisors charges to separately managed accounts and a UCITS series that have similar mandates to the Core Bond, Core Bond Plus and Core Impact Bond Funds and the performance of such accounts/series. The Board also considered Advisors’ comments that, in the future, Advisors may manage client assets through additional funds and accounts with similar investment strategies. The Board also considered Advisors’ representation that, while the management fee rates charged to the Funds may differ from the management fee rates chargeable to these other funds and accounts, this may be due in part to the fact that these other funds and accounts may: (1) involve less entrepreneurial risk on the part of Advisors; (2) be offered in different types of markets; (3) be provided with different types or levels of services; (4) have different regulatory burdens; and/or (5) target different investors.

Other benefits

The Board also considered additional “fall-out benefits” to Advisors and its affiliates arising from the Agreement. Such benefits include, among others, other fees paid by the Funds to Advisors or its affiliates for other services, such as distribution and administration, and investment-related benefits, such as economies of scale to the extent the Funds share investment resources and/or personnel with other clients of Advisors and the ability to incubate strategies within one or more Funds that could be subsequently utilized to manage other non-Fund products. Advisors and its affiliates may also benefit from the level of business and relationships the Funds have with certain service providers. Additionally, the Funds may be utilized as investment options for other products and businesses of Advisors and its affiliates, such as variable products, fund of funds and 529 education savings plans. Also, Advisors and its affiliates may benefit from their relationship with the Funds to the extent that this relationship results in potential investors viewing TIAA, of which Advisors is an indirect, wholly-owned subsidiary, as a leading retirement plan provider in the academic and non-profit markets and as a single source for all their financial service needs.

Fund-by-fund synopsis of factors

The Board considered the following specific factors (among others) in connection with its determination to renew the Agreement with respect to each Fund. If a Fund is described in the following discussions as being in the “1st” quintile, it is in the best of five groups (that is, the group has the best performance or the lowest expenses, as the case may be). References below to quintiles are based on data provided to the Board in the reports prepared by Broadridge. The specific management fee, expense and performance factors outlined below are based on the Institutional Class shares of each Fund. Because the Institutional Class generally has lower non-management expenses than the other classes of these Funds, the expenses and performance of these other classes will differ from the expenses and performance shown for the Institutional Class. References to “adjusted” relative gross performance means the performance of a Fund minus the impact of net asset value rounding and the effects of fair valuation, foreign exchange rates, effective tax rates, securities lending and class action litigation, as applicable. All time periods referenced below are ended December 31, 2020. Under the Morningstar rating system, an Overall Morningstar Rating of 5 stars is the highest (best) rating category and 1 star is the lowest (worst) rating category. The Morningstar data is as of December 31, 2020. Statements below regarding a Fund’s “effective management fee rate” refer to the overall effective blended fee rate that applied to that Fund after taking into account any breakpoints in the management fee rate schedule for the Fund and any applicable fee waivers and/or expense reimbursements. For reference, one basis point equals 0.01%. Statements below regarding “net profit” or “net loss” refer to whether Advisors calculated that it earned a profit or incurred a loss for the services that it rendered to a Fund during 2020 under the Agreement.

Bond Index Fund

•	The Fund’s annual contractual management fee rate is 0.10% of average daily net assets.
•	Effective August 1, 2021, the Fund’s contractual management fee rate will be reduced to 0.07% of average daily net assets, and effective August 1, 2022, the Fund’s contractual management fee rate will be reduced to 0.06% of average daily net assets.
•	The Fund’s total expense ratio, actual management fee rate and contractual management fee rate ranked 2 out of 5 funds, 2 out of 5 funds and 1 out of 5 funds within the group of comparable funds selected by Broadridge for expense comparison purposes (“Expense Group”), respectively. The Fund’s total expense ratio, actual management fee rate and contractual management fee rate were in the 2nd, 1st and 1st quintiles, respectively, of the universe of comparable funds selected by Broadridge for expense comparison purposes (“Expense Universe”).
•	For the three-year period, the Fund’s adjusted relative gross performance was the same as compared to its benchmark, the Bloomberg Barclays U.S. Aggregate Bond Index.
•	The Fund received an Overall Morningstar Rating of 3 stars.
•	Advisors calculated that it earned a net profit with respect to its services to the Fund for the one-year period.

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continued

Core Bond Fund

•	The Fund’s annual contractual management fee rate starts at 0.30% of average daily net assets, and includes breakpoints that reduce the rate paid on assets above certain thresholds. The Fund’s effective management fee rate at its December 31, 2020 asset level was 0.277% of average daily net assets.
•	The Fund’s total expense ratio, actual management fee rate and contractual management fee rate were each in the 1st quintile of its Expense Group. The Fund’s total expense ratio and contractual management fee rate were each in the 1st quintile of its Expense Universe, while the Fund’s actual management fee rate was in the 2nd quintile of its Expense Universe.
•	The Fund was in the 5th, 4th, 4th and 3rd quintiles of the group of comparable funds selected by Broadridge for performance comparison purposes (“Performance Group”) for the one-, three-, five- and ten-year periods, respectively. The Fund was in the 3rd, 3rd, 2nd and 1st quintiles of the universe of comparable funds selected by Broadridge for performance comparison purposes (“Performance Universe”) for the one-, three-, five- and ten-year periods, respectively.
•	The Fund received an Overall Morningstar Rating of 4 stars.
•	Advisors calculated that it earned a net profit with respect to its services to the Fund for the one-year period.

Core Impact Bond Fund

•	The Fund’s annual contractual management fee rate starts at 0.35% of average daily net assets, and includes breakpoints that reduce the rate paid on assets above certain thresholds. The Fund’s effective management fee rate at its December 31, 2020 asset level was 0.331% of average daily net assets.
•	The Fund’s total expense ratio, actual management fee rate and contractual management fee rate were in the 1st, 2nd and 2nd quintiles, respectively, of its Expense Group. The Fund’s total expense ratio, actual management fee rate and contractual management fee rate were in the 1st, 3rd and 2nd quintiles, respectively, of its Expense Universe.
•	The Fund was in the 5th, 4th and 3rd quintiles of its Performance Group for the one-, three- and five-year periods, respectively. The Fund was in the 4th, 3rd and 2nd quintiles of its Performance Universe for the one-, three- and five-year periods, respectively.
•	The Fund received an Overall Morningstar Rating of 4 stars.
•	Advisors calculated that it earned a net profit with respect to its services to the Fund for the one-year period.

Core Plus Bond Fund

•	The Fund’s annual contractual management fee rate starts at 0.30% of average daily net assets, and includes breakpoints that reduce the rate paid on assets above certain thresholds. The Fund’s effective management fee rate at its December 31, 2020 asset level was 0.283% of average daily net assets.
•	The Fund’s total expense ratio, actual management fee rate and contractual management fee rate were each in the 1st quintile of both its Expense Group and its Expense Universe.
•	The Fund was in the 3rd quintile of its Performance Group and 4th, 3rd, 2nd and 2nd quintiles of its Performance Universe for the one-, three-, five- and ten-year periods, respectively.
•	The Fund received an Overall Morningstar Rating of 4 stars.
•	Advisors calculated that it earned a net profit with respect to its services to the Fund for the one-year period.

5–15 Year Laddered Tax-Exempt Bond Fund

•	The Fund’s annual contractual management fee rate starts at 0.25% of average daily net assets, which includes breakpoints that would reduce the rate paid on assets above certain thresholds. The Fund’s effective management fee rate at its December 31, 2020 asset level was 0.25% of average daily net assets.
•	The Fund’s total expense ratio, actual management fee rate and contractual management fee rate were each in the 1st quintile of both its Expense Group and its Expense Universe.
•	The Fund was in the 4th, 1st, 2nd and 2nd quintiles of its Performance Group for the one-, three-, five- and ten-year periods, respectively. The Fund was in the 3rd, 1st, 1st and 2nd quintiles of its Performance Universe for the one-, three-, five- and ten-year periods, respectively.
•	The Fund received an Overall Morningstar Rating of 3 stars.
•	Advisors calculated that it incurred a net loss with respect to its services to the Fund for the one-year period.

Green Bond Fund

•	The Fund’s annual contractual management fee rate starts at 0.40% of average daily net assets, which includes breakpoints that would reduce the rate paid on assets above certain thresholds. The Fund’s effective management fee rate at its December 31, 2020 asset level was 0.40% of average daily net assets.
•	The Fund’s total expense ratio, actual management fee rate and contractual management fee rate were in the 2nd, 1st and 3rd quintiles of its Expense Group, respectively. The Fund’s total expense ratio, actual management fee rate and contractual management fee rate were in the 2nd, 1st and 2nd quintiles of its Expense Universe, respectively.
•	The Fund was in the 3rd quintile of both its Performance Group and its Performance Universe for the one-year and since-inception periods.
•	The Fund does not have enough performance history to have received an Overall Morningstar Rating.
•	Advisors calculated that it incurred a net loss with respect to its services to the Fund for the one-year period.

High-Yield Fund

•	The Fund’s annual contractual management fee rate starts at 0.35% of average daily net assets, and includes breakpoints that reduce the rate paid on assets above certain thresholds. The Fund’s effective management fee rate at its December 31, 2020 asset level was 0.337% of average daily net assets, which includes the effect of a voluntary management fee rate waiver of 0.015% for the year ended April 30, 2021.
•	Effective May 1, 2021, Advisors has voluntarily agreed to continue to reduce the Fund’s management fee rate by 0.015% through April 30, 2022.
•	The Fund’s total expense ratio, actual management fee rate and contractual management fee rate were each in the 1st quintile of both its Expense Group and Expense Universe.
•	The Fund was in the 5th, 4th, 4th and 3rd quintiles of its Performance Group for the one-, three-, five- and ten-year periods, respectively. The Fund was in the 5th, 3rd, 2nd and 2nd quintiles of its Performance Universe for the one-, three-, five- and ten-year periods, respectively.
•	The Fund received an Overall Morningstar Rating of 4 stars.

TIAA-CREF Funds: Fixed-Income Funds ■ 2021 Annual Report

107

Approval of investment management agreement (unaudited)

concluded

•	Advisors earned a net profit with respect to its services to the Fund for the one-year period.

Inflation-Linked Bond Fund

•	The Fund’s annual contractual management fee rate starts at 0.25% of average daily net assets, and includes breakpoints that reduce the rate paid on assets above certain thresholds. The Fund’s effective management fee rate at its December 31, 2020 asset level was 0.238% of average daily net assets, which includes the effect of a voluntary management fee rate waiver of 0.020% for the year ended April 30, 2021.
•	Effective May 1, 2021, Advisors has voluntarily agreed to continue to reduce the Fund’s management fee rate by 0.020% through April 30, 2022.
•	The Fund’s total expense ratio, actual management fee rate and contractual management fee rate were each in the 1st quintile of both its Expense Group and its Expense Universe.
•	The Fund was in the 4th quintile of its Performance Group for the one-, three- and five- year periods and ranked 5 out of 5 funds within its Performance Group for the ten-year period. The Fund was in the 4th, 4th, 4th and 3rd quintiles of its Performance Universe for the one-, three-, five- and ten-year periods, respectively.
•	The Fund received an Overall Morningstar Rating of 3 stars.
•	Advisors calculated that it earned a net profit with respect to its services to the Fund for the one-year period.

Money Market Fund

•	The Fund’s annual contractual management fee rate is 0.10% of average daily net assets.
•	The Fund’s total expense ratio, actual management fee rate and contractual management fee rate were in the 1st, 2nd and 1st quintiles of its Expense Group, respectively. The Fund’s total expense ratio, actual management fee rate and contractual management fee rate were each in the 1st quintile of its Expense Universe.
•	The Fund was in the 1st, 1st, 1st and 4th quintiles of its Performance Group for the one-, three-, five- and ten-year periods, respectively. The Fund was in the 1st quintile of its Performance Universe for each of the one-, three-, five- and ten-year periods.
•	Money market funds are not rated by Morningstar.
•	Advisors calculated that it earned a net profit with respect to its services to the Fund for the one-year period.

Short Duration Impact Bond Fund

•	The Fund’s annual contractual management fee rate starts at 0.30% of average daily net assets, which includes breakpoints that would reduce the rate paid on assets above certain thresholds. The Fund’s effective management fee rate at its December 31, 2020 asset level was 0.30% of average daily net assets.
•	The Fund’s total expense ratio, actual management fee rate and contractual management fee rate were in the 2nd, 1st and 1st quintiles of its Expense Group, respectively. The Fund’s total expense ratio, actual management fee rate and contractual management fee rate were each in the 1st quintile of its Expense Universe.

•	The Fund was in the 1st quintile of both its Performance Group and Performance Universe for each of the one-year and since-inception periods.
•	The Fund does not have enough performance history to have received an Overall Morningstar Rating.
•	Advisors calculated that it incurred a net loss with respect to its services to the Fund for the one-year period.

Short-Term Bond Fund

•	The Fund’s annual contractual management fee rate starts at 0.25% of average daily net assets, and includes breakpoints that reduce the rate paid on assets above certain thresholds. The Fund’s effective management fee rate at its December 31, 2020 asset level was 0.244% of average daily net assets.
•	The Fund’s total expense ratio, actual management fee rate and contractual management fee rate were each in the 1st quintile of both its Expense Group and Expense Universe.
•	The Fund was in the 5th, 5th, 4th and 3rd quintiles of its Performance Group for the one-, three-, five-and ten-year periods, respectively. The Fund was in the 3rd, 3rd, 3rd and 2nd quintiles of its Performance Universe for each of the one-, three-, five- and ten-year periods, respectively.
•	The Fund received an Overall Morningstar Rating of 3 stars.
•	Advisors calculated that it earned a net profit with respect to its services to the Fund for the one-year period.

Short-Term Bond Index Fund

•	The Fund’s annual contractual management fee rate is 0.07% of average daily net assets.
•	Effective August 1, 2021, the Fund’s contractual management fee rate will be reduced to 0.06% of average daily net assets, and effective August 1, 2022, the Fund’s contractual management fee rate will be reduced to 0.05% of average daily net assets.
•	The Fund’s total expense ratio, actual management fee rate and contractual management fee rate were in the 2nd, 1st and 1st quintiles of both its Expense Group and its Expense Universe, respectively.
•	For the three-year period, the Fund’s adjusted relative gross performance as compared to its benchmark, the Bloomberg Barclays 1–3 Year Government/Credit Bond Index, differed by –1 basis point.
•	The Fund received an Overall Morningstar Rating of 2 stars.
•	Advisors calculated that it incurred a net loss with respect to its services to the Fund for the one-year period.

Based primarily on the foregoing factors and considerations, the Board renewed the Agreement for each Fund.

108	2021 Annual Report ■ TIAA-CREF Funds: Fixed-Income Funds

Liquidity risk management program

Discussion of the operation and effectiveness of the Funds’ liquidity risk management program

In compliance with Rule 22e-4 under the Investment Company Act of 1940, as amended (the “Liquidity Rule”), each series of the Trust covered by this Report (the “Funds”) has adopted and implemented a liquidity risk management program (the “Program”), which is reasonably designed to assess and manage the Funds’ liquidity risk. The Program consists of various provisions relating to assessing and managing Fund liquidity risk, as discussed further below. The Funds’ Board of Trustees (the “Board”) previously approved the designation of Advisors (the “Administrator”) as Program administrator. The Liquidity Monitoring and Analysis Team (the “LMAT”) carries out day-to-day Program management with oversight by the Liquidity Oversight Committee (the “LOSC”). Personnel from the Administrator and Nuveen Fund Advisors, LLC, an affiliate of the Administrator, comprise the LMAT and LOSC.

In accordance with the Program, the LMAT assesses each Fund’s liquidity risk no less frequently than annually based on various factors, such as (i) the Fund’s investment strategy and the liquidity of portfolio investments, (ii) cash flow projections, and (iii) holdings of cash and cash equivalents and borrowing arrangements and other funding sources. Certain factors are considered under both normal and reasonably foreseeable stressed conditions.

Each Fund portfolio investment is classified into one of four liquidity categories (including “highly liquid investments” and “illiquid investments,” discussed below). The classification is based on a determination of how long it is reasonably expected to take to convert the investment into cash, or sell or dispose of the investment, in current market conditions without significantly changing the market value of the investment. Liquidity classification determinations take into account various market, trading, and investment-specific considerations, as well as market depth, and utilize third-party vendor data.

Any Fund that does not primarily hold highly liquid investments must, among other things, determine a minimum percentage of Fund net assets that must be invested in highly liquid investments (a “Highly Liquid Investment Minimum”). During the Review Period, each Fund primarily held highly liquid investments and therefore was exempt from the requirement to adopt a Highly Liquid Investment Minimum and to comply with the related requirements under the Liquidity Rule.

The Liquidity Rule also limits the Funds’ investments in illiquid investments. Specifically, the Liquidity Rule prohibits acquisition of illiquid investments if doing so would result in the Fund holding more than 15% of its net assets in illiquid investments and requires certain reporting anytime a Fund’s holdings of illiquid investments exceed 15% of net assets. During the Review Period, no Fund exceeded the 15% limit on illiquid investments.

TIAA-CREF Funds: Fixed-Income Funds ■ 2021 Annual Report

109

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Item 2. Code of Conduct.

2(a) The Board of Trustees of the TIAA-CREF Funds (the “Registrant”) has adopted a code of conduct for senior financial officers, including the Registrant’s principal executive officer, principal financial officer, principal accounting officer, or controller, and persons performing similar functions, in conformity with rules promulgated under the Sarbanes-Oxley Act of 2002.

2(b) No response required.

2(c) During the reporting period, there were no material amendments to the code of conduct.

2(d) During the reporting period, there were no implicit or explicit waivers granted by the Registrant from any provision of the code of conduct.

2(e) Not applicable.

2(f) A copy of the current code of conduct is filed as an exhibit to this Form N-CSR.

Item 3. Audit Committee Financial Expert.

3(a)(1) The Registrant’s Board of Trustees has determined that the Registrant has at least one audit committee financial expert serving on its Audit and Compliance Committee.

3(a)(2) Maceo K. Sloan is the Registrant’s audit committee financial expert and is “independent” for purposes of Item 3 of Form N-CSR.

Item 4. Principal Accountant Fees and Services.

PricewaterhouseCoopers LLP (“PwC”) performs independent audits of the Registrant’s financial statements. To maintain auditor independence and avoid even the appearance of conflicts of interest, the Registrant, as a policy, does not engage PwC for management advisory or consulting services.

The aggregate fees billed by PwC as disclosed below for the fiscal years ended March 31, 2021 and March 31, 2020 may not align with the figures reported and filed with the Securities and Exchange Commission in Form N-CEN or Form N-CSR for each period, respectively, (SEC File No. 811-09301) because the fees disclosed in this statement reflect fees updated after the date of that Form N-CEN or Form N-CSR for the relevant periods.

4(a) Audit Fees.

For the fiscal years ended March 31, 2021 and March 31, 2020, PwC’s aggregate fees for the audit of the Registrant’s annual financial statements were $628,830 and $662,567, respectively.

4(b) Audit Related Fees.

For the fiscal years ended March 31, 2021 and March 31, 2020, PwC’s aggregate fees for services related to the performance of the audit of the Registrant’s annual financial statements were $0 and $0, respectively.

For the fiscal years ended March 31, 2021 and March 31, 2020, the Audit-Related Fees billed by PwC to Teachers Advisors, LLC (“Advisors”) or to any entity controlling, controlled by or under common control with Advisors that provides ongoing services to the Registrant (collectively, “Fund Service Providers”) were $0 and $0, respectively.

4(c) Tax Fees.

For the fiscal years ended March 31, 2021 and March 31, 2020, PwC’s aggregate fees for tax services billed to the Registrant were $0 and $0, respectively.

For the fiscal years ended March 31, 2021 and March 31, 2020, the Tax Fees billed by PwC to the Fund Service Providers were $0 and $0, respectively.

4(d) All Other Fees.

For the fiscal years ended March 31, 2021 and March 31, 2020, PwC’s aggregate fees for all other services billed to the Registrant were $0 and $5,500, respectively.

For the fiscal years ended March 31, 2021 and March 31, 2020, PwC’s aggregate fees for all other services billed to the Fund Service Providers were $0 and $0, respectively.

4(e)(1) Preapproval Policy.

The Registrant’s audit and compliance committee (“Audit Committee”) has adopted a Preapproval Policy for External Audit Firm Services (the “Policy”). The Policy describes the types of services that may be provided by the independent auditor to the Registrant and certain of its affiliates without impairing the auditor’s independence. Under the Policy, the Audit Committee is required to preapprove all services to be performed by the Registrant’s independent auditor in order to ensure that such services do not impair the auditor’s independence.

The Policy requires the Audit Committee to: (i) appoint the independent auditor to perform the financial statements audit for the Registrant and certain of its affiliates, including approving the terms of the engagement, and (ii) preapprove the audit, audit-related, tax and other services to be provided by the independent auditor to the Registrant and certain of its affiliates and the fees to be charged for provision of such services from year to year.

4(e)(2) Services provided pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X (the “de minimis exception”):

Audit-Related Fees:

There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception for the fiscal years ended March 31, 2021 and March 31, 2020 on behalf of the Registrant.

There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception for the fiscal years ended March 31, 2021 and March 31, 2020 on behalf of the Fund Service Providers that relate directly to the operations and financial reporting of the Registrant.

Tax Fees:

There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception for the fiscal years ended March 31, 2021 and March 31, 2020 on behalf of the Registrant.

All Other Fees:

There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception for the fiscal years ended March 31, 2021 and March 31, 2020 on behalf of the Registrant.

4(f) The percentage of hours expended by PwC’s engagement to audit the Registrant’s financial statements for the most recent fiscal year attributable to work performed by persons other than PwC’s full-time, permanent employees was less than 50%.

4(g) Non-Audit Fees for Related Entities.

For the fiscal years ended March 31, 2021 and March 31, 2020, aggregate non-audit fees billed to the Registrant and to its Fund Service Providers by PwC were $371,750 and $329,750, respectively.

4(h) The Registrant’s Audit Committee has considered whether the non-audit services that were rendered by PwC to the Registrant’s Fund Service Providers that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X are compatible with maintaining PwC’s independence.

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

March 31, 2021

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE

BONDS - 99.4%

CORPORATE BONDS - 26.7%

AUTOMOBILES & COMPONENTS - 0.1%
$	250,000	Aptiv plc	4.250	%	01/15/26	$	280,875
	100,000	Aptiv plc	4.350		03/15/29		112,640
	100,000	Aptiv plc	4.400		10/01/46		106,917
	575,000	Aptiv plc	5.400		03/15/49		702,686
	200,000	BorgWarner, Inc	3.375		03/15/25		216,599
	1,650,000	BorgWarner, Inc	2.650		07/01/27		1,713,260
	200,000	BorgWarner, Inc	4.375		03/15/45		213,917
	600,000	Delphi Corp	4.150		03/15/24		654,343
	125,000	General Motors Co	4.875		10/02/23		136,844
	500,000	General Motors Co	5.400		10/02/23		542,911
	500,000	General Motors Co	6.125		10/01/25		587,954
	500,000	General Motors Co	4.200		10/01/27		548,728
	500,000	General Motors Co	6.800		10/01/27		620,281
	700,000	General Motors Co	5.000		10/01/28		802,206
	900,000	General Motors Co	6.600		04/01/36		1,168,141
	700,000	General Motors Co	5.150		04/01/38		801,557
	150,000	General Motors Co	6.250		10/02/43		192,103
	175,000	General Motors Co	5.200		04/01/45		200,937
	350,000	General Motors Co	6.750		04/01/46		472,442
	500,000	General Motors Co	5.400		04/01/48		592,716
	900,000	General Motors Co	5.950		04/01/49		1,142,026
	175,000	Harley-Davidson, Inc	3.500		07/28/25		186,207
	200,000	Harley-Davidson, Inc	4.625		07/28/45		207,602
	800,000	Lear Corp	3.800		09/15/27		871,034
	400,000	Lear Corp	4.250		05/15/29		443,155
	500,000	Lear Corp	3.500		05/30/30		521,292
	550,000	Lear Corp	5.250		05/15/49		644,415
	300,000	Magna International, Inc	3.625		06/15/24		324,357
	600,000	Magna International, Inc	4.150		10/01/25		672,596
	175,000	Magna International, Inc	2.450		06/15/30		176,078
	500,000	Toyota Motor Corp	2.157		07/02/22		511,535
	300,000	Toyota Motor Corp	3.419		07/20/23		319,864
	1,000,000	Toyota Motor Corp	0.681		03/25/24		999,771
	750,000	Toyota Motor Corp	2.358		07/02/24		790,115
	1,000,000	Toyota Motor Corp	1.339		03/25/26		997,439
	300,000	Toyota Motor Corp	3.669		07/20/28		333,184
	750,000	Toyota Motor Corp	2.760		07/02/29		781,150
	1,000,000	Toyota Motor Corp	2.362		03/25/31		1,004,592
		TOTAL AUTOMOBILES & COMPONENTS					21,594,469

BANKS - 4.3%
	300,000	Australia & New Zealand Banking Group Ltd	2.625		05/19/22		307,940
	550,000	Australia & New Zealand Banking Group Ltd	2.625		11/09/22		570,789

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE

$	1,000,000	Australia & New Zealand Banking Group Ltd	2.050	%	11/21/22	$	1,027,809
	525,000	Australia & New Zealand Banking Group Ltd	3.700		11/16/25		583,182
	1,000,000	Banco Bilbao Vizcaya Argentaria S.A.	0.875		09/18/23		1,002,667
	1,000,000	Banco Bilbao Vizcaya Argentaria S.A.	1.125		09/18/25		982,033
	600,000	Banco Santander S.A.	3.500		04/11/22		618,128
	800,000	Banco Santander S.A.	3.125		02/23/23		836,975
	1,200,000	Banco Santander S.A.	3.848		04/12/23		1,276,057
	800,000	Banco Santander S.A.	2.706		06/27/24		844,125
	600,000	Banco Santander S.A.	2.746		05/28/25		626,898
	400,000	Banco Santander S.A.	5.179		11/19/25		453,791
	1,600,000	Banco Santander S.A.	1.849		03/25/26		1,596,935
	600,000	Banco Santander S.A.	4.250		04/11/27		669,119
	675,000	Banco Santander S.A.	3.800		02/23/28		728,411
	1,800,000	Banco Santander S.A.	4.379		04/12/28		2,005,877
	600,000	Banco Santander S.A.	3.306		06/27/29		635,936
	400,000	Banco Santander S.A.	3.490		05/28/30		416,437
	2,000,000	Banco Santander S.A.	2.749		12/03/30		1,905,049
	1,000,000	Banco Santander S.A.	2.958		03/25/31		994,231
	850,000	Bancolombia S.A.	3.000		01/29/25		868,275
	1,200,000	Bank of America Corp	2.816		07/21/23		1,235,338
	3,500,000	Bank of America Corp	4.125		01/22/24		3,825,481
	1,475,000	Bank of America Corp	4.200		08/26/24		1,626,859
	2,500,000	Bank of America Corp	0.810		10/24/24		2,506,196
	10,300,000	Bank of America Corp	3.458		03/15/25		11,059,831
	3,550,000	Bank of America Corp	3.950		04/21/25		3,892,426
	3,000,000	Bank of America Corp	0.981		09/25/25		2,992,199
	3,000,000	Bank of America Corp	3.093		10/01/25		3,201,708
	725,000	Bank of America Corp	2.456		10/22/25		759,938
	4,000,000	Bank of America Corp	3.366		01/23/26		4,306,338
	3,000,000	Bank of America Corp	2.015		02/13/26		3,072,745
	5,000,000	Bank of America Corp	1.319		06/19/26		4,984,748
	4,500,000	Bank of America Corp	1.197		10/24/26		4,441,671
	5,000,000	Bank of America Corp	1.658		03/11/27		5,015,098
	7,800,000	Bank of America Corp	3.559		04/23/27		8,487,748
	2,000,000	Bank of America Corp	3.593		07/21/28		2,170,599
	5,690,000	Bank of America Corp	3.419		12/20/28		6,110,378
	1,250,000	Bank of America Corp	3.970		03/05/29		1,377,332
	1,400,000	Bank of America Corp	4.271		07/23/29		1,574,030
	3,075,000	Bank of America Corp	3.974		02/07/30		3,412,898
	1,675,000	Bank of America Corp	3.194		07/23/30		1,758,295
	1,050,000	Bank of America Corp	2.884		10/22/30		1,079,436
	4,000,000	Bank of America Corp	2.496		02/13/31		3,963,172
	1,750,000	Bank of America Corp	2.592		04/29/31		1,746,346
	3,000,000	Bank of America Corp	1.898		07/23/31		2,818,018
	3,000,000	Bank of America Corp	1.922		10/24/31		2,823,197
	3,000,000	Bank of America Corp	2.651		03/11/32		3,007,660
	1,500,000	Bank of America Corp	6.110		01/29/37		1,986,285
	4,500,000	Bank of America Corp	4.078		04/23/40		4,983,743
	6,000,000	Bank of America Corp	2.676		06/19/41		5,617,092
	1,500,000	Bank of America Corp	5.000		01/21/44		1,845,811
	2,800,000	Bank of America Corp	4.443		01/20/48		3,254,220
	3,000,000	Bank of America Corp	3.946		01/23/49		3,282,339
	1,250,000	Bank of America Corp	4.330		03/15/50		1,441,363
	1,500,000	Bank of America Corp	4.083		03/20/51		1,665,461

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE

$	1,000,000		Bank of America Corp	2.831	%	10/24/51	$	918,080
	1,950,000		Bank of America Corp	3.483		03/13/52		1,987,024
	550,000		Bank of America NA	3.335		01/25/23		563,161
	1,500,000		Bank of Montreal	2.900		03/26/22		1,538,681
	850,000		Bank of Montreal	2.350		09/11/22		876,072
	1,000,000		Bank of Montreal	2.050		11/01/22		1,027,037
	350,000		Bank of Montreal	2.550		11/06/22		361,260
	2,000,000		Bank of Montreal	0.450		12/08/23		1,993,435
	1,425,000		Bank of Montreal	3.300		02/05/24		1,528,499
	1,000,000		Bank of Montreal	2.500		06/28/24		1,055,177
	750,000		Bank of Montreal	1.850		05/01/25		768,768
	1,000,000		Bank of Montreal	0.949		01/22/27		973,929
	750,000		Bank of Montreal	4.338		10/05/28		812,163
	425,000		Bank of Montreal	3.803		12/15/32		466,846
	750,000	e	Bank of Montreal	4.800		N/A‡		786,375
	1,000,000		Bank of Nova Scotia	1.875		04/26/21		1,000,978
	1,000,000		Bank of Nova Scotia	2.000		11/15/22		1,026,746
	375,000		Bank of Nova Scotia	2.375		01/18/23		387,947
	750,000		Bank of Nova Scotia	1.950		02/01/23		771,002
	750,000		Bank of Nova Scotia	1.625		05/01/23		768,931
	1,000,000		Bank of Nova Scotia	0.550		09/15/23		1,000,205
	750,000		Bank of Nova Scotia	2.200		02/03/25		777,906
	2,000,000		Bank of Nova Scotia	1.300		06/11/25		2,005,632
	1,550,000		Bank of Nova Scotia	4.500		12/16/25		1,760,121
	1,000,000		Bank of Nova Scotia	2.700		08/03/26		1,059,695
	2,000,000		Barclays Bank plc	1.700		05/12/22		2,027,639
	2,000,000		Barclays plc	3.200		08/10/21		2,019,797
	1,500,000		Barclays plc	3.684		01/10/23		1,534,253
	1,500,000		Barclays plc	4.610		02/15/23		1,549,779
	525,000		Barclays plc	4.338		05/16/24		562,160
	200,000		Barclays plc	4.375		09/11/24		218,596
	2,000,000		Barclays plc	1.007		12/10/24		1,998,354
	1,425,000		Barclays plc	3.650		03/16/25		1,531,558
	2,750,000		Barclays plc	3.932		05/07/25		2,968,245
	975,000		Barclays plc	4.375		01/12/26		1,086,553
	2,000,000		Barclays plc	2.852		05/07/26		2,093,680
	800,000		Barclays plc	5.200		05/12/26		903,440
	700,000		Barclays plc	4.337		01/10/28		776,834
	1,975,000		Barclays plc	4.836		05/09/28		2,201,468
	1,500,000		Barclays plc	4.972		05/16/29		1,724,761
	1,000,000		Barclays plc	5.088		06/20/30		1,132,591
	2,000,000		Barclays plc	2.645		06/24/31		1,965,072
	1,500,000		Barclays plc	2.667		03/10/32		1,464,209
	1,750,000		Barclays plc	3.564		09/23/35		1,752,520
	1,000,000		Barclays plc	3.811		03/10/42		979,637
	775,000		Barclays plc	5.250		08/17/45		956,992
	575,000		Barclays plc	4.950		01/10/47		694,411
	500,000		BBVA USA	3.500		06/11/21		501,615
	500,000		BBVA USA	2.875		06/29/22		514,168
	1,000,000		BBVA USA	2.500		08/27/24		1,051,170
	500,000		BBVA USA	3.875		04/10/25		546,297
	675,000		BNP Paribas S.A.	3.250		03/03/23		710,968
	1,350,000		BNP Paribas S.A.	4.250		10/15/24		1,494,235

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE

$	1,100,000	g	BNP Paribas S.A.	1.904	%	09/30/28	$	1,081,201
	500,000		Canadian Imperial Bank of Commerce	2.550		06/16/22		513,485
	800,000		Canadian Imperial Bank of Commerce	0.950		06/23/23		807,082
	1,000,000		Canadian Imperial Bank of Commerce	2.606		07/22/23		1,026,735
	500,000		Canadian Imperial Bank of Commerce	3.500		09/13/23		536,660
	2,000,000		Canadian Imperial Bank of Commerce	0.500		12/14/23		1,992,150
	750,000		Canadian Imperial Bank of Commerce	3.100		04/02/24		798,884
	1,000,000		Canadian Imperial Bank of Commerce	2.250		01/28/25		1,037,019
	1,000,000		Canadian Imperial Bank of Commerce	0.950		10/23/25		980,722
	3,000,000		CitiBank NA	2.844		05/20/22		3,009,518
	2,000,000		CitiBank NA	3.650		01/23/24		2,165,240
	1,250,000		Citigroup, Inc	2.350		08/02/21		1,258,786
	100,000		Citigroup, Inc	2.900		12/08/21		101,590
	3,000,000		Citigroup, Inc	4.500		01/14/22		3,097,230
	425,000		Citigroup, Inc	2.312		11/04/22		429,523
	800,000		Citigroup, Inc	3.142		01/24/23		816,608
	4,600,000		Citigroup, Inc	3.500		05/15/23		4,866,624
	1,400,000		Citigroup, Inc	2.876		07/24/23		1,442,078
	1,500,000		Citigroup, Inc	4.044		06/01/24		1,607,756
	500,000		Citigroup, Inc	4.000		08/05/24		546,021
	3,250,000		Citigroup, Inc	0.776		10/30/24		3,247,792
	7,500,000		Citigroup, Inc	3.352		04/24/25		8,026,571
	1,000,000		Citigroup, Inc	3.700		01/12/26		1,098,323
	750,000		Citigroup, Inc	4.600		03/09/26		846,290
	3,000,000		Citigroup, Inc	3.106		04/08/26		3,202,389
	1,100,000		Citigroup, Inc	4.300		11/20/26		1,227,020
	4,000,000		Citigroup, Inc	1.122		01/28/27		3,912,682
	1,500,000		Citigroup, Inc	4.450		09/29/27		1,692,880
	1,000,000		Citigroup, Inc	3.668		07/24/28		1,093,623
	2,025,000		Citigroup, Inc	4.125		07/25/28		2,240,918
	4,000,000		Citigroup, Inc	4.075		04/23/29		4,450,001
	1,750,000		Citigroup, Inc	3.980		03/20/30		1,937,344
	1,500,000		Citigroup, Inc	2.976		11/05/30		1,551,282
	5,000,000		Citigroup, Inc	2.666		01/29/31		5,023,631
	2,200,000		Citigroup, Inc	4.412		03/31/31		2,510,667
	6,000,000		Citigroup, Inc	2.572		06/03/31		5,995,308
	175,000		Citigroup, Inc	6.625		06/15/32		231,754
	750,000		Citigroup, Inc	3.878		01/24/39		810,061
	325,000		Citigroup, Inc	8.125		07/15/39		533,606
	350,000		Citigroup, Inc	5.875		01/30/42		475,048
	400,000		Citigroup, Inc	6.675		09/13/43		584,593
	125,000		Citigroup, Inc	5.300		05/06/44		158,201
	675,000		Citigroup, Inc	4.650		07/30/45		806,227
	3,075,000		Citigroup, Inc	4.750		05/18/46		3,664,466
	5,075,000		Citigroup, Inc	4.650		07/23/48		6,227,369
	150,000		Citizens Bank NA	2.550		05/13/21		150,071
	350,000		Citizens Bank NA	2.650		05/26/22		358,279
	500,000		Citizens Bank NA	3.700		03/29/23		529,737
	350,000		Citizens Bank NA	2.250		04/28/25		363,161
	250,000		Citizens Bank NA	3.750		02/18/26		274,951
	100,000		Citizens Financial Group, Inc	2.375		07/28/21		100,480
	500,000		Citizens Financial Group, Inc	2.850		07/27/26		530,219
	200,000		Citizens Financial Group, Inc	2.500		02/06/30		198,191
	450,000		Citizens Financial Group, Inc	3.250		04/30/30		477,831

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE

$	850,000	g	Citizens Financial Group, Inc	2.638	%	09/30/32	$	813,875
	500,000		Comerica Bank	2.500		07/23/24		528,605
	200,000		Comerica Bank	4.000		07/27/25		221,269
	625,000		Comerica, Inc	3.700		07/31/23		668,283
	550,000		Comerica, Inc	4.000		02/01/29		613,916
	925,000		Cooperatieve Rabobank UA	2.750		01/10/22		942,877
	575,000		Cooperatieve Rabobank UA	3.950		11/09/22		605,424
	425,000		Cooperatieve Rabobank UA	4.625		12/01/23		465,764
	2,000,000		Cooperatieve Rabobank UA	0.375		01/12/24		1,989,578
	2,050,000		Cooperatieve Rabobank UA	3.375		05/21/25		2,235,751
	600,000		Cooperatieve Rabobank UA	4.375		08/04/25		664,473
	2,700,000		Cooperatieve Rabobank UA	3.750		07/21/26		2,944,636
	550,000		Cooperatieve Rabobank UA	5.250		05/24/41		711,558
	400,000		Cooperatieve Rabobank UA	5.750		12/01/43		537,133
	1,600,000		Cooperatieve Rabobank UA	5.250		08/04/45		2,046,251
	300,000		Discover Bank	3.200		08/09/21		302,265
	1,300,000		Discover Bank	3.350		02/06/23		1,360,078
	1,350,000		Discover Bank	4.200		08/08/23		1,456,621
	1,000,000		Discover Bank	2.450		09/12/24		1,046,740
	200,000		Discover Bank	4.250		03/13/26		223,547
	1,125,000		Discover Bank	3.450		07/27/26		1,217,444
	300,000		Discover Bank	4.682		08/09/28		319,980
	350,000		Discover Bank	4.650		09/13/28		399,854
	325,000		Discover Bank	2.700		02/06/30		327,203
	200,000		Fifth Third Bancorp	3.500		03/15/22		205,437
	750,000		Fifth Third Bancorp	2.600		06/15/22		768,496
	450,000		Fifth Third Bancorp	4.300		01/16/24		492,062
	675,000		Fifth Third Bancorp	3.650		01/25/24		727,253
	1,000,000		Fifth Third Bancorp	2.375		01/28/25		1,042,623
	300,000		Fifth Third Bancorp	2.550		05/05/27		312,099
	500,000		Fifth Third Bancorp	3.950		03/14/28		565,327
	140,000		Fifth Third Bancorp	8.250		03/01/38		226,012
	650,000		Fifth Third Bank	3.350		07/26/21		654,506
	500,000		Fifth Third Bank	1.800		01/30/23		512,652
	300,000		Fifth Third Bank	3.950		07/28/25		333,986
	2,400,000		Fifth Third Bank	3.850		03/15/26		2,641,979
	1,000,000		Fifth Third Bank	2.250		02/01/27		1,035,621
	500,000		First Citizens BancShares, Inc	3.375		03/15/30		504,922
	500,000		First Horizon Bank	5.750		05/01/30		601,327
	500,000		First Horizon National Corp	3.550		05/26/23		528,542
	500,000		First Horizon National Corp	4.000		05/26/25		548,729
	2,200,000		First Republic Bank	2.500		06/06/22		2,249,157
	500,000		First Republic Bank	1.912		02/12/24		511,719
	175,000		First Republic Bank	4.375		08/01/46		200,689
	550,000		FNB Corp	2.200		02/24/23		560,733
	33,000		HSBC Bank USA NA	7.000		01/15/39		48,777
	600,000		HSBC Holdings plc	3.033		11/22/23		624,039
	2,625,000		HSBC Holdings plc	4.250		03/14/24		2,856,931
	2,325,000		HSBC Holdings plc	3.950		05/18/24		2,481,376
	450,000		HSBC Holdings plc	4.250		08/18/25		494,800
	2,000,000		HSBC Holdings plc	2.633		11/07/25		2,090,213
	1,875,000		HSBC Holdings plc	4.300		03/08/26		2,098,899
	825,000		HSBC Holdings plc	1.645		04/18/26		825,506

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE

$	2,475,000		HSBC Holdings plc	3.900	%	05/25/26	$	2,729,034
	1,500,000		HSBC Holdings plc	2.099		06/04/26		1,525,311
	1,100,000		HSBC Holdings plc	4.292		09/12/26		1,217,527
	450,000		HSBC Holdings plc	4.375		11/23/26		501,207
	4,000,000		HSBC Holdings plc	1.589		05/24/27		3,936,480
	3,925,000		HSBC Holdings plc	4.041		03/13/28		4,296,903
	5,000,000		HSBC Holdings plc	2.013		09/22/28		4,913,286
	2,775,000		HSBC Holdings plc	4.583		06/19/29		3,118,538
	4,000,000		HSBC Holdings plc	3.973		05/22/30		4,328,421
	3,000,000		HSBC Holdings plc	2.848		06/04/31		3,000,285
	750,000		HSBC Holdings plc	2.357		08/18/31		721,783
	300,000		HSBC Holdings plc	6.500		05/02/36		393,349
	2,700,000		HSBC Holdings plc	6.500		09/15/37		3,592,670
	200,000		HSBC Holdings plc	6.800		06/01/38		274,295
	550,000		HSBC Holdings plc	6.100		01/14/42		759,179
	1,175,000		HSBC Holdings plc	5.250		03/14/44		1,433,757
	1,250,000		HSBC USA, Inc	3.500		06/23/24		1,351,001
	183,000		Huntington Bancshares, Inc	2.300		01/14/22		185,594
	1,000,000		Huntington Bancshares, Inc	2.625		08/06/24		1,054,931
	500,000		Huntington Bancshares, Inc	4.000		05/15/25		554,085
	1,000,000		Huntington Bancshares, Inc	2.550		02/04/30		1,002,522
	300,000		Huntington National Bank	3.125		04/01/22		307,577
	375,000		Huntington National Bank	1.800		02/03/23		383,519
	300,000		Industrial & Commercial Bank of China Ltd	2.635		05/26/21		300,749
	250,000		Industrial & Commercial Bank of China Ltd	2.452		10/20/21		251,985
	4,750,000		Industrial & Commercial Bank of China Ltd	3.538		11/08/27		5,194,568
	750,000		ING Groep NV	3.150		03/29/22		770,667
	1,200,000		ING Groep NV	4.100		10/02/23		1,299,138
	575,000		ING Groep NV	3.550		04/09/24		618,997
	1,250,000		ING Groep NV	3.950		03/29/27		1,385,139
	1,500,000	h	ING Groep NV	1.726		04/01/27		1,500,867
	500,000		ING Groep NV	4.550		10/02/28		572,085
	1,325,000		ING Groep NV	4.050		04/09/29		1,474,133
	475,000	h	ING Groep NV	2.727		04/01/32		474,715
	800,000		JPMorgan Chase & Co	3.250		09/23/22		834,641
	3,150,000		JPMorgan Chase & Co	2.972		01/15/23		3,213,003
	3,075,000		JPMorgan Chase & Co	3.200		01/25/23		3,230,009
	2,100,000		JPMorgan Chase & Co	3.207		04/01/23		2,156,991
	500,000		JPMorgan Chase & Co	3.375		05/01/23		529,223
	625,000		JPMorgan Chase & Co	2.700		05/18/23		652,026
	475,000		JPMorgan Chase & Co	3.875		02/01/24		517,405
	4,400,000		JPMorgan Chase & Co	3.559		04/23/24		4,663,134
	1,525,000		JPMorgan Chase & Co	3.625		05/13/24		1,662,128
	2,000,000		JPMorgan Chase & Co	1.514		06/01/24		2,041,505
	1,575,000		JPMorgan Chase & Co	3.797		07/23/24		1,685,749
	2,675,000		JPMorgan Chase & Co	3.875		09/10/24		2,932,611
	3,000,000		JPMorgan Chase & Co	0.653		09/16/24		3,005,834
	975,000		JPMorgan Chase & Co	4.023		12/05/24		1,057,799
	625,000		JPMorgan Chase & Co	3.125		01/23/25		669,614
	475,000		JPMorgan Chase & Co	0.563		02/16/25		471,469
	1,200,000		JPMorgan Chase & Co	3.220		03/01/25		1,280,254
	2,125,000		JPMorgan Chase & Co	3.900		07/15/25		2,345,764
	2,000,000		JPMorgan Chase & Co	2.301		10/15/25		2,081,872
	2,000,000		JPMorgan Chase & Co	2.005		03/13/26		2,056,700

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE

$	3,125,000	JPMorgan Chase & Co	3.300	%	04/01/26	$	3,400,224
	2,000,000	JPMorgan Chase & Co	2.083		04/22/26		2,054,129
	1,450,000	JPMorgan Chase & Co	3.200		06/15/26		1,567,508
	1,000,000	JPMorgan Chase & Co	2.950		10/01/26		1,069,618
	4,000,000	JPMorgan Chase & Co	1.045		11/19/26		3,906,826
	1,350,000	JPMorgan Chase & Co	4.125		12/15/26		1,520,433
	2,450,000	JPMorgan Chase & Co	3.960		01/29/27		2,709,595
	4,000,000	JPMorgan Chase & Co	1.040		02/04/27		3,901,342
	250,000	JPMorgan Chase & Co	4.250		10/01/27		283,338
	325,000	JPMorgan Chase & Co	3.625		12/01/27		353,137
	1,375,000	JPMorgan Chase & Co	3.782		02/01/28		1,515,500
	425,000	JPMorgan Chase & Co	3.540		05/01/28		462,549
	6,000,000	JPMorgan Chase & Co	2.182		06/01/28		6,062,524
	2,050,000	JPMorgan Chase & Co	4.203		07/23/29		2,319,130
	1,750,000	JPMorgan Chase & Co	4.452		12/05/29		2,004,559
	4,500,000	JPMorgan Chase & Co	3.702		05/06/30		4,904,810
	2,000,000	JPMorgan Chase & Co	2.522		04/22/31		1,995,789
	1,425,000	JPMorgan Chase & Co	2.956		05/13/31		1,451,350
	5,000,000	JPMorgan Chase & Co	1.764		11/19/31		4,663,468
	2,250,000	JPMorgan Chase & Co	1.953		02/04/32		2,132,464
	1,000,000	JPMorgan Chase & Co	3.882		07/24/38		1,109,699
	958,000	JPMorgan Chase & Co	5.500		10/15/40		1,254,954
	2,000,000	JPMorgan Chase & Co	3.109		04/22/41		1,988,690
	4,500,000	JPMorgan Chase & Co	2.525		11/19/41		4,121,753
	1,000,000	JPMorgan Chase & Co	5.625		08/16/43		1,329,917
	1,800,000	JPMorgan Chase & Co	4.950		06/01/45		2,245,777
	2,050,000	JPMorgan Chase & Co	4.260		02/22/48		2,380,162
	1,000,000	JPMorgan Chase & Co	4.032		07/24/48		1,121,015
	4,500,000	JPMorgan Chase & Co	3.964		11/15/48		4,962,627
	1,750,000	JPMorgan Chase & Co	3.897		01/23/49		1,925,762
	2,000,000	JPMorgan Chase & Co	3.109		04/22/51		1,958,724
	750,000	JPMorgan Chase & Co	6.000		N/A‡		786,175
	500,000	KeyBank NA	2.500		11/22/21		507,094
	300,000	KeyBank NA	3.180		05/22/22		309,155
	300,000	KeyBank NA	2.400		06/09/22		307,130
	625,000	KeyBank NA	2.300		09/14/22		641,999
	425,000	KeyBank NA	1.250		03/10/23		431,586
	3,000,000	KeyBank NA	0.423		01/03/24		2,997,400
	750,000	KeyBank NA	3.300		06/01/25		816,211
	300,000	KeyBank NA	3.400		05/20/26		323,398
	250,000	KeyBank NA	3.900		04/13/29		273,184
	200,000	KeyCorp	4.150		10/29/25		224,064
	850,000	KeyCorp	2.250		04/06/27		871,769
	500,000	KeyCorp	4.100		04/30/28		563,692
	1,000,000	KeyCorp	2.550		10/01/29		1,012,408
	1,000,000	Lloyds Bank plc	2.250		08/14/22		1,025,033
	575,000	Lloyds Banking Group plc	3.000		01/11/22		586,258
	1,000,000	Lloyds Banking Group plc	2.858		03/17/23		1,021,032
	300,000	Lloyds Banking Group plc	1.326		06/15/23		302,893
	1,175,000	Lloyds Banking Group plc	2.907		11/07/23		1,217,416
	1,800,000	Lloyds Banking Group plc	3.900		03/12/24		1,953,882
	2,750,000	Lloyds Banking Group plc	4.500		11/04/24		3,056,763
	1,375,000	Lloyds Banking Group plc	4.450		05/08/25		1,536,790

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE

$	325,000	Lloyds Banking Group plc	4.582	%	12/10/25	$	362,873
	1,000,000	Lloyds Banking Group plc	2.438		02/05/26		1,035,640
	225,000	Lloyds Banking Group plc	4.650		03/24/26		251,941
	500,000	Lloyds Banking Group plc	3.750		01/11/27		548,377
	2,000,000	Lloyds Banking Group plc	1.627		05/11/27		1,985,461
	2,700,000	Lloyds Banking Group plc	4.375		03/22/28		3,030,443
	700,000	Lloyds Banking Group plc	4.550		08/16/28		796,825
	1,825,000	Lloyds Banking Group plc	3.574		11/07/28		1,970,684
	1,550,000	Lloyds Banking Group plc	4.344		01/09/48		1,689,366
	300,000	M&T Bank Corp	3.550		07/26/23		321,139
	500,000	Manufacturers & Traders Trust Co	2.500		05/18/22		511,302
	1,100,000	Manufacturers & Traders Trust Co	2.900		02/06/25		1,170,527
	276,000	Mitsubishi UFJ Financial Group, Inc	2.190		09/13/21		278,276
	1,000,000	Mitsubishi UFJ Financial Group, Inc	2.623		07/18/22		1,027,606
	975,000	Mitsubishi UFJ Financial Group, Inc	2.665		07/25/22		1,002,747
	1,925,000	Mitsubishi UFJ Financial Group, Inc	3.455		03/02/23		2,029,761
	1,175,000	Mitsubishi UFJ Financial Group, Inc	3.761		07/26/23		1,258,829
	1,000,000	Mitsubishi UFJ Financial Group, Inc	2.801		07/18/24		1,059,925
	1,000,000	Mitsubishi UFJ Financial Group, Inc	0.848		09/15/24		1,001,015
	2,000,000	Mitsubishi UFJ Financial Group, Inc	2.193		02/25/25		2,062,998
	1,625,000	Mitsubishi UFJ Financial Group, Inc	3.777		03/02/25		1,775,394
	2,500,000	Mitsubishi UFJ Financial Group, Inc	1.412		07/17/25		2,498,285
	207,000	Mitsubishi UFJ Financial Group, Inc	3.850		03/01/26		228,495
	225,000	Mitsubishi UFJ Financial Group, Inc	2.757		09/13/26		238,182
	650,000	Mitsubishi UFJ Financial Group, Inc	3.677		02/22/27		720,868
	700,000	Mitsubishi UFJ Financial Group, Inc	3.287		07/25/27		763,206
	1,000,000	Mitsubishi UFJ Financial Group, Inc	3.961		03/02/28		1,111,984
	300,000	Mitsubishi UFJ Financial Group, Inc	4.050		09/11/28		335,212
	1,250,000	Mitsubishi UFJ Financial Group, Inc	3.741		03/07/29		1,357,354
	1,000,000	Mitsubishi UFJ Financial Group, Inc	3.195		07/18/29		1,050,306
	1,500,000	Mitsubishi UFJ Financial Group, Inc	2.559		02/25/30		1,498,928
	1,250,000	Mitsubishi UFJ Financial Group, Inc	2.048		07/17/30		1,203,109
	300,000	Mitsubishi UFJ Financial Group, Inc	4.286		07/26/38		340,529
	500,000	Mitsubishi UFJ Financial Group, Inc	4.153		03/07/39		562,394
	1,425,000	Mitsubishi UFJ Financial Group, Inc	3.751		07/18/39		1,528,938
	2,000,000	Mizuho Financial Group, Inc	2.601		09/11/22		2,058,265
	700,000	Mizuho Financial Group, Inc	3.549		03/05/23		740,953
	1,750,000	Mizuho Financial Group, Inc	1.241		07/10/24		1,768,409
	2,000,000	Mizuho Financial Group, Inc	0.849		09/08/24		2,004,186
	500,000	Mizuho Financial Group, Inc	2.555		09/13/25		522,971
	500,000	Mizuho Financial Group, Inc	2.226		05/25/26		514,098
	950,000	Mizuho Financial Group, Inc	2.839		09/13/26		1,008,008
	200,000	Mizuho Financial Group, Inc	3.663		02/28/27		220,024
	1,000,000	Mizuho Financial Group, Inc	1.234		05/22/27		973,494
	600,000	Mizuho Financial Group, Inc	3.170		09/11/27		646,435
	725,000	Mizuho Financial Group, Inc	4.018		03/05/28		806,058
	625,000	Mizuho Financial Group, Inc	4.254		09/11/29		702,216
	1,000,000	Mizuho Financial Group, Inc	3.153		07/16/30		1,045,474
	500,000	Mizuho Financial Group, Inc	2.869		09/13/30		509,994
	500,000	Mizuho Financial Group, Inc	2.591		05/25/31		498,212
	1,000,000	Mizuho Financial Group, Inc	2.201		07/10/31		965,429
	1,000,000	Mizuho Financial Group, Inc	1.979		09/08/31		943,143
	1,000,000	Mizuho Financial Group, Inc	2.172		05/22/32		959,983
	225,000	MUFG Americas Holdings Corp	3.500		06/18/22		233,298

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE

$	160,000		MUFG Americas Holdings Corp	3.000	%	02/10/25	$	169,823
	1,000,000		MUFG Union Bank NA	3.150		04/01/22		1,026,178
	1,000,000		MUFG Union Bank NA	2.100		12/09/22		1,026,806
	925,000		National Australia Bank Ltd	2.800		01/10/22		943,122
	450,000		National Australia Bank Ltd	2.500		05/22/22		461,356
	1,000,000		National Australia Bank Ltd	1.875		12/13/22		1,026,173
	625,000		National Australia Bank Ltd	3.000		01/20/23		653,580
	500,000		National Australia Bank Ltd	2.875		04/12/23		524,457
	300,000		National Australia Bank Ltd	3.375		01/14/26		327,570
	750,000		National Australia Bank Ltd	2.500		07/12/26		787,541
	1,000,000		National Bank of Canada	2.100		02/01/23		1,027,995
	1,150,000		National Bank of Canada	0.550		11/15/24		1,147,078
	800,000		Natwest Group plc	3.032		11/28/35		763,264
	300,000		People’s United Bank NA	4.000		07/15/24		323,715
	100,000		People’s United Financial, Inc	3.650		12/06/22		104,239
	1,750,000		PNC Bank NA	2.450		07/28/22		1,795,340
	1,025,000		PNC Bank NA	2.700		11/01/22		1,060,706
	1,000,000		PNC Bank NA	2.028		12/09/22		1,011,040
	750,000		PNC Bank NA	2.950		01/30/23		781,818
	250,000		PNC Bank NA	3.800		07/25/23		268,085
	600,000		PNC Bank NA	2.950		02/23/25		641,048
	550,000		PNC Bank NA	3.250		06/01/25		594,283
	500,000		PNC Bank NA	3.100		10/25/27		541,340
	500,000		PNC Bank NA	3.250		01/22/28		539,633
	903,000		PNC Bank NA	4.050		07/26/28		1,009,459
	475,000		PNC Bank NA	2.700		10/22/29		485,490
	500,000		PNC Financial Services Group, Inc	3.500		01/23/24		539,185
	300,000		PNC Financial Services Group, Inc	3.900		04/29/24		327,372
	500,000		PNC Financial Services Group, Inc	2.200		11/01/24		524,954
	1,500,000		PNC Financial Services Group, Inc	2.600		07/23/26		1,584,571
	300,000		PNC Financial Services Group, Inc	3.150		05/19/27		324,495
	1,575,000		PNC Financial Services Group, Inc	3.450		04/23/29		1,701,909
	2,000,000		PNC Financial Services Group, Inc	2.550		01/22/30		2,029,446
	150,000		PNC Financial Services Group, Inc (Step Bond)	2.854		11/09/22		155,753
	300,000		Regions Bank	6.450		06/26/37		402,728
	2,075,000		Regions Financial Corp	3.800		08/14/23		2,225,648
	225,000		Regions Financial Corp	2.250		05/18/25		233,471
	1,000,000		Royal Bank of Canada	2.800		04/29/22		1,027,019
	1,000,000		Royal Bank of Canada	1.950		01/17/23		1,027,230
	500,000		Royal Bank of Canada	1.600		04/17/23		512,056
	850,000		Royal Bank of Canada	3.700		10/05/23		916,556
	1,000,000		Royal Bank of Canada	0.500		10/26/23		1,000,800
	1,000,000		Royal Bank of Canada	0.425		01/19/24		994,021
	1,000,000		Royal Bank of Canada	2.550		07/16/24		1,054,624
	750,000		Royal Bank of Canada	2.250		11/01/24		786,157
	2,000,000		Royal Bank of Canada	1.150		06/10/25		1,998,969
	1,000,000	e	Royal Bank of Canada	0.875		01/20/26		981,693
	1,000,000		Royal Bank of Canada	4.650		01/27/26		1,141,072
	4,000,000		Royal Bank of Scotland Group plc	3.498		05/15/23		4,123,153
	1,275,000		Royal Bank of Scotland Group plc	3.875		09/12/23		1,367,282
	175,000		Royal Bank of Scotland Group plc	6.000		12/19/23		197,539
	1,100,000		Royal Bank of Scotland Group plc	2.359		05/22/24		1,134,901
	175,000		Royal Bank of Scotland Group plc	5.125		05/28/24		194,390

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE

$	700,000		Royal Bank of Scotland Group plc	4.519	%	06/25/24	$	755,623
	750,000		Royal Bank of Scotland Group plc	4.269		03/22/25		818,152
	750,000		Royal Bank of Scotland Group plc	4.800		04/05/26		850,594
	300,000		Royal Bank of Scotland Group plc	3.073		05/22/28		312,161
	1,000,000		Royal Bank of Scotland Group plc	4.892		05/18/29		1,139,242
	750,000		Royal Bank of Scotland Group plc	3.754		11/01/29		797,123
	3,000,000		Royal Bank of Scotland Group plc	5.076		01/27/30		3,472,302
	1,500,000		Royal Bank of Scotland Group plc	4.445		05/08/30		1,670,669
	1,200,000		Santander Holdings USA, Inc	3.400		01/18/23		1,252,867
	375,000		Santander Holdings USA, Inc	3.500		06/07/24		400,960
	1,000,000		Santander Holdings USA, Inc	3.450		06/02/25		1,071,651
	775,000		Santander Holdings USA, Inc	4.500		07/17/25		858,185
	1,850,000		Santander Holdings USA, Inc	3.244		10/05/26		1,955,978
	650,000		Santander Holdings USA, Inc	4.400		07/13/27		723,041
	1,775,000		Santander UK Group Holdings plc	3.571		01/10/23		1,814,430
	775,000		Santander UK Group Holdings plc	3.373		01/05/24		809,948
	725,000		Santander UK Group Holdings plc	4.796		11/15/24		797,887
	1,000,000		Santander UK Group Holdings plc	1.532		08/21/26		991,661
	500,000		Santander UK Group Holdings plc	3.823		11/03/28		545,911
	1,500,000		Santander UK Group Holdings plc	2.896		03/15/32		1,491,120
	775,000		Santander UK plc	4.000		03/13/24		845,670
	499,000	e	Santander UK plc	2.875		06/18/24		531,340
	350,000		Shinhan Bank Co Ltd	3.875		12/07/26		356,477
	500,000		Sumitomo Mitsui Banking Corp	3.200		07/18/22		517,581
	800,000		Sumitomo Mitsui Banking Corp	3.000		01/18/23		835,003
	300,000		Sumitomo Mitsui Banking Corp	3.950		01/10/24		325,609
	500,000		Sumitomo Mitsui Banking Corp	3.400		07/11/24		540,413
	250,000		Sumitomo Mitsui Banking Corp	3.650		07/23/25		273,779
	425,000		Sumitomo Mitsui Financial Group, Inc	2.442		10/19/21		430,097
	425,000		Sumitomo Mitsui Financial Group, Inc	2.846		01/11/22		433,228
	925,000		Sumitomo Mitsui Financial Group, Inc	2.784		07/12/22		952,350
	1,650,000		Sumitomo Mitsui Financial Group, Inc	2.778		10/18/22		1,706,563
	1,725,000		Sumitomo Mitsui Financial Group, Inc	3.102		01/17/23		1,805,175
	900,000		Sumitomo Mitsui Financial Group, Inc	3.748		07/19/23		963,203
	1,000,000		Sumitomo Mitsui Financial Group, Inc	0.508		01/12/24		995,434
	1,000,000		Sumitomo Mitsui Financial Group, Inc	2.448		09/27/24		1,047,654
	3,725,000		Sumitomo Mitsui Financial Group, Inc	1.474		07/08/25		3,726,636
	1,000,000		Sumitomo Mitsui Financial Group, Inc	0.948		01/12/26		974,397
	1,300,000		Sumitomo Mitsui Financial Group, Inc	3.784		03/09/26		1,432,692
	700,000		Sumitomo Mitsui Financial Group, Inc	3.010		10/19/26		747,500
	725,000		Sumitomo Mitsui Financial Group, Inc	3.446		01/11/27		787,451
	775,000		Sumitomo Mitsui Financial Group, Inc	3.364		07/12/27		840,296
	500,000		Sumitomo Mitsui Financial Group, Inc	3.352		10/18/27		540,852
	675,000		Sumitomo Mitsui Financial Group, Inc	3.544		01/17/28		730,305
	750,000		Sumitomo Mitsui Financial Group, Inc	3.944		07/19/28		828,261
	500,000		Sumitomo Mitsui Financial Group, Inc	4.306		10/16/28		566,567
	1,500,000		Sumitomo Mitsui Financial Group, Inc	3.040		07/16/29		1,559,698
	500,000		Sumitomo Mitsui Financial Group, Inc	3.202		09/17/29		515,412
	1,000,000		Sumitomo Mitsui Financial Group, Inc	2.724		09/27/29		1,016,450
	1,500,000		Sumitomo Mitsui Financial Group, Inc	2.750		01/15/30		1,526,654
	1,500,000		Sumitomo Mitsui Financial Group, Inc	2.130		07/08/30		1,447,987
	1,000,000		Sumitomo Mitsui Financial Group, Inc	2.142		09/23/30		937,444
	1,000,000		Sumitomo Mitsui Financial Group, Inc	1.710		01/12/31		929,187
	1,500,000		Sumitomo Mitsui Financial Group, Inc	2.296		01/12/41		1,328,618

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE

$	300,000		SVB Financial Group	3.125	%	06/05/30	$	311,615
	875,000		SVB Financial Group	1.800		02/02/31		806,765
	889,000		Svenska Handelsbanken AB	3.900		11/20/23		968,081
	1,250,000		Synchrony Bank	3.650		05/24/21		1,252,728
	475,000		Synchrony Bank	3.000		06/15/22		487,824
	500,000		Synovus Bank	2.289		02/10/23		504,242
	300,000		Synovus Financial Corp	3.125		11/01/22		310,091
	1,000,000		Toronto-Dominion Bank	0.250		01/06/23		998,356
	1,000,000		Toronto-Dominion Bank	0.750		06/12/23		1,007,262
	500,000		Toronto-Dominion Bank	3.500		07/19/23		535,314
	1,000,000		Toronto-Dominion Bank	0.450		09/11/23		998,986
	1,525,000		Toronto-Dominion Bank	3.250		03/11/24		1,640,309
	1,250,000		Toronto-Dominion Bank	2.650		06/12/24		1,325,839
	1,000,000		Toronto-Dominion Bank	1.150		06/12/25		1,000,474
	1,000,000		Toronto-Dominion Bank	0.750		09/11/25		979,646
	2,000,000		Toronto-Dominion Bank	0.750		01/06/26		1,953,993
	1,000,000		Toronto-Dominion Bank	3.625		09/15/31		1,095,979
	1,100,000		Truist Bank	2.625		01/15/22		1,118,508
	750,000		Truist Bank	2.800		05/17/22		769,458
	1,450,000		Truist Bank	2.450		08/01/22		1,488,734
	300,000	e	Truist Bank	3.502		08/02/22		303,030
	500,000		Truist Bank	3.000		02/02/23		522,792
	750,000		Truist Bank	1.250		03/09/23		763,302
	1,000,000		Truist Bank	3.200		04/01/24		1,071,935
	500,000		Truist Bank	3.689		08/02/24		534,308
	750,000		Truist Bank	2.150		12/06/24		785,114
	1,000,000		Truist Bank	1.500		03/10/25		1,015,980
	500,000		Truist Bank	3.625		09/16/25		545,646
	200,000		Truist Bank	4.050		11/03/25		223,202
	375,000		Truist Bank	3.300		05/15/26		405,922
	500,000		Truist Bank	3.800		10/30/26		555,632
	750,000		Truist Bank	2.636		09/17/29		785,648
	475,000		Truist Bank	2.250		03/11/30		463,482
	225,000		Truist Financial Corp	2.700		01/27/22		229,052
	200,000		Truist Financial Corp	3.950		03/22/22		206,548
	1,150,000		Truist Financial Corp	2.750		04/01/22		1,176,026
	500,000		Truist Financial Corp	3.050		06/20/22		515,549
	750,000		Truist Financial Corp	2.200		03/16/23		774,995
	775,000		Truist Financial Corp	3.750		12/06/23		839,263
	1,000,000		Truist Financial Corp	2.500		08/01/24		1,052,841
	825,000		Truist Financial Corp	2.850		10/26/24		881,070
	900,000		Truist Financial Corp	4.000		05/01/25		994,709
	975,000		Truist Financial Corp	3.700		06/05/25		1,068,726
	750,000	e	Truist Financial Corp	1.200		08/05/25		748,379
	1,300,000		Truist Financial Corp	1.267		03/02/27		1,284,473
	1,000,000		Truist Financial Corp	1.125		08/03/27		959,500
	500,000		Truist Financial Corp	3.875		03/19/29		555,190
	750,000		Truist Financial Corp	1.950		06/05/30		725,756
	4,075,000		US Bancorp	2.625		01/24/22		4,146,231
	250,000		US Bancorp	3.000		03/15/22		256,086
	450,000		US Bancorp	2.950		07/15/22		464,656
	125,000		US Bancorp	3.700		01/30/24		135,607
	1,225,000		US Bancorp	3.375		02/05/24		1,320,194

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE

$	2,225,000	US Bancorp	3.600	%	09/11/24	$	2,429,709
	125,000	US Bancorp	3.950		11/17/25		139,726
	750,000	US Bancorp	3.100		04/27/26		804,719
	700,000	US Bancorp	2.375		07/22/26		730,245
	1,175,000	US Bancorp	3.150		04/27/27		1,272,249
	750,000	US Bancorp	3.900		04/26/28		840,961
	600,000	US Bancorp	3.000		07/30/29		628,729
	2,500,000	US Bancorp	1.375		07/22/30		2,304,814
	1,400,000	US Bank NA	2.850		01/23/23		1,463,685
	1,250,000	US Bank NA	3.400		07/24/23		1,334,756
	750,000	US Bank NA	2.800		01/27/25		798,767
	125,000	Wachovia Corp	5.500		08/01/35		155,615
	200,000	Webster Financial Corp	4.100		03/25/29		213,858
	1,375,000	Wells Fargo & Co	3.450		02/13/23		1,448,423
	800,000	Wells Fargo & Co	4.125		08/15/23		865,460
	334,000	Wells Fargo & Co	4.480		01/16/24		367,510
	1,350,000	Wells Fargo & Co	3.750		01/24/24		1,459,844
	825,000	Wells Fargo & Co	1.654		06/02/24		842,774
	2,700,000	Wells Fargo & Co	3.300		09/09/24		2,916,455
	4,100,000	Wells Fargo & Co	3.000		02/19/25		4,362,509
	1,125,000	Wells Fargo & Co	3.550		09/29/25		1,226,250
	2,000,000	Wells Fargo & Co	2.406		10/30/25		2,089,064
	1,500,000	Wells Fargo & Co	2.164		02/11/26		1,547,411
	3,350,000	Wells Fargo & Co	3.000		04/22/26		3,579,853
	1,000,000	Wells Fargo & Co	2.188		04/30/26		1,032,080
	1,250,000	Wells Fargo & Co	4.100		06/03/26		1,389,357
	2,575,000	Wells Fargo & Co	3.000		10/23/26		2,748,325
	1,500,000	Wells Fargo & Co	3.196		06/17/27		1,607,735
	1,200,000	Wells Fargo & Co	4.300		07/22/27		1,356,358
	3,625,000	Wells Fargo & Co	3.584		05/22/28		3,952,213
	2,000,000	Wells Fargo & Co	2.393		06/02/28		2,049,788
	6,175,000	Wells Fargo & Co	4.150		01/24/29		6,959,942
	3,950,000	Wells Fargo & Co	2.879		10/30/30		4,068,941
	3,000,000	Wells Fargo & Co	2.572		02/11/31		3,016,245
	5,000,000	Wells Fargo & Co	4.478		04/04/31		5,757,844
	7,025,000	Wells Fargo & Co	3.068		04/30/41		6,888,763
	1,050,000	Wells Fargo & Co	5.375		11/02/43		1,313,423
	1,468,000	Wells Fargo & Co	5.606		01/15/44		1,888,369
	475,000	Wells Fargo & Co	4.650		11/04/44		547,050
	1,500,000	Wells Fargo & Co	3.900		05/01/45		1,642,796
	950,000	Wells Fargo & Co	4.900		11/17/45		1,140,195
	3,250,000	Wells Fargo & Co	4.400		06/14/46		3,620,667
	1,975,000	Wells Fargo & Co	4.750		12/07/46		2,331,073
	1,500,000	Wells Fargo & Co	5.013		04/04/51		1,923,661
	2,000,000	Wells Fargo Bank NA	2.897		05/27/22		2,007,557
	1,000,000	Wells Fargo Bank NA	2.082		09/09/22		1,007,625
	250,000	Wells Fargo Bank NA	6.600		01/15/38		354,787
	650,000	Westpac Banking Corp	2.800		01/11/22		662,947
	925,000	Westpac Banking Corp	2.500		06/28/22		949,916
	300,000	Westpac Banking Corp	2.750		01/11/23		312,646
	1,150,000	Westpac Banking Corp	3.650		05/15/23		1,227,329
	750,000	Westpac Banking Corp	3.300		02/26/24		807,258
	2,000,000	Westpac Banking Corp	2.350		02/19/25		2,092,927
	1,000,000	Westpac Banking Corp	2.850		05/13/26		1,067,281

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE

$	675,000		Westpac Banking Corp	2.700	%	08/19/26	$	716,357
	850,000		Westpac Banking Corp	3.350		03/08/27		932,520
	725,000		Westpac Banking Corp	3.400		01/25/28		791,817
	1,000,000		Westpac Banking Corp	2.894		02/04/30		1,030,010
	950,000		Westpac Banking Corp	4.322		11/23/31		1,049,351
	600,000		Westpac Banking Corp	4.110		07/24/34		640,686
	2,350,000		Westpac Banking Corp	2.668		11/15/35		2,229,915
	900,000		Westpac Banking Corp	4.421		07/24/39		1,011,310
	225,000		Westpac Banking Corp	2.963		11/16/40		209,314
	400,000		Zions Bancorp NA	3.250		10/29/29		404,635
			TOTAL BANKS					840,674,120

CAPITAL GOODS - 1.5%
	500,000		3M Co	1.750		02/14/23		512,653
	300,000		3M Co	2.250		03/15/23		310,866
	600,000		3M Co	3.250		02/14/24		646,271
	1,000,000		3M Co	2.000		02/14/25		1,038,969
	1,200,000		3M Co	3.000		08/07/25		1,300,324
	675,000		3M Co	2.875		10/15/27		724,995
	925,000		3M Co	3.625		09/14/28		1,028,807
	500,000		3M Co	3.375		03/01/29		546,068
	1,000,000		3M Co	2.375		08/26/29		1,019,707
	200,000		3M Co	3.125		09/19/46		196,499
	300,000		3M Co	3.625		10/15/47		325,511
	1,150,000		3M Co	4.000		09/14/48		1,320,153
	875,000		3M Co	3.250		08/26/49		887,918
	820,000		3M Co	3.700		04/15/50		890,671
	500,000		ABB Finance USA, Inc	2.875		05/08/22		514,078
	1,000,000	e	Acuity Brands Lighting, Inc	2.150		12/15/30		946,886
	200,000		Air Lease Corp	3.375		06/01/21		200,912
	500,000		Air Lease Corp	3.750		02/01/22		510,495
	400,000		Air Lease Corp	2.625		07/01/22		408,699
	575,000		Air Lease Corp	2.250		01/15/23		590,099
	200,000		Air Lease Corp	2.750		01/15/23		206,095
	750,000		Air Lease Corp	3.875		07/03/23		797,423
	2,000,000		Air Lease Corp	0.700		02/15/24		1,975,529
	750,000		Air Lease Corp	2.300		02/01/25		766,056
	750,000		Air Lease Corp	3.375		07/01/25		792,212
	1,000,000		Air Lease Corp	2.875		01/15/26		1,037,619
	1,000,000		Air Lease Corp	3.750		06/01/26		1,068,900
	500,000		Air Lease Corp	3.625		04/01/27		525,971
	200,000		Air Lease Corp	3.625		12/01/27		210,202
	300,000		Air Lease Corp	4.625		10/01/28		329,085
	500,000		Air Lease Corp	3.250		10/01/29		501,581
	750,000		Air Lease Corp	3.000		02/01/30		734,031
	500,000		Air Lease Corp	3.125		12/01/30		498,518
	200,000		Aircastle Ltd	4.400		09/25/23		213,003
	1,000,000		Aircastle Ltd	4.125		05/01/24		1,056,295
	500,000		Aircastle Ltd	4.250		06/15/26		529,384
	500,000		Allegion plc	3.500		10/01/29		525,036
	275,000		Boeing Co	2.300		08/01/21		276,795
	300,000		Boeing Co	2.700		05/01/22		306,371
	750,000		Boeing Co	2.800		03/01/23		777,210

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE

$	2,100,000	Boeing Co	4.508	%	05/01/23	$	2,247,806
	1,500,000	Boeing Co	1.950		02/01/24		1,536,870
	4,000,000	Boeing Co	1.433		02/04/24		4,050,785
	300,000	Boeing Co	2.800		03/01/24		312,221
	2,200,000	Boeing Co	4.875		05/01/25		2,449,586
	400,000	Boeing Co	2.600		10/30/25		406,789
	2,000,000	Boeing Co	2.750		02/01/26		2,058,736
	3,000,000	Boeing Co	2.196		02/04/26		2,990,697
	300,000	Boeing Co	3.100		05/01/26		317,778
	200,000	Boeing Co	2.250		06/15/26		200,281
	500,000	Boeing Co	2.700		02/01/27		507,941
	250,000	Boeing Co	2.800		03/01/27		256,001
	1,900,000	Boeing Co	5.040		05/01/27		2,166,129
	1,500,000	Boeing Co	3.250		02/01/28		1,551,541
	500,000	Boeing Co	3.250		03/01/28		511,590
	125,000	Boeing Co	3.450		11/01/28		129,367
	600,000	Boeing Co	3.200		03/01/29		607,627
	750,000	Boeing Co	2.950		02/01/30		747,913
	1,600,000	Boeing Co	5.150		05/01/30		1,842,793
	1,000,000	Boeing Co	3.625		02/01/31		1,046,204
	300,000	Boeing Co	3.600		05/01/34		300,016
	425,000	Boeing Co	3.250		02/01/35		411,875
	500,000	Boeing Co	3.550		03/01/38		483,535
	600,000	Boeing Co	3.500		03/01/39		576,161
	350,000	Boeing Co	5.875		02/15/40		427,560
	2,000,000	Boeing Co	5.705		05/01/40		2,447,453
	300,000	Boeing Co	3.375		06/15/46		265,288
	250,000	Boeing Co	3.650		03/01/47		229,658
	100,000	Boeing Co	3.625		03/01/48		92,313
	100,000	Boeing Co	3.850		11/01/48		96,497
	5,000,000	Boeing Co	5.805		05/01/50		6,294,752
	125,000	Boeing Co	3.825		03/01/59		116,294
	750,000	Boeing Co	3.950		08/01/59		720,983
	4,500,000	Boeing Co	5.930		05/01/60		5,774,064
	100,000	Carlisle Cos, Inc	3.750		11/15/22		104,224
	200,000	Carlisle Cos, Inc	3.500		12/01/24		216,811
	500,000	Carlisle Cos, Inc	3.750		12/01/27		550,529
	1,000,000	Carlisle Cos, Inc	2.750		03/01/30		1,007,350
	2,000,000	Carrier Global Corp	2.493		02/15/27		2,065,398
	1,100,000	Carrier Global Corp	2.722		02/15/30		1,110,002
	150,000	Carrier Global Corp	2.700		02/15/31		149,955
	2,000,000	Carrier Global Corp	3.377		04/05/40		1,996,061
	900,000	Carrier Global Corp	3.577		04/05/50		883,797
	1,000,000	Caterpillar Financial Services Corp	1.900		09/06/22		1,023,701
	2,000,000	Caterpillar Financial Services Corp	0.250		03/01/23		1,998,652
	300,000	Caterpillar Financial Services Corp	3.450		05/15/23		319,569
	1,250,000	Caterpillar Financial Services Corp	0.650		07/07/23		1,256,186
	1,000,000	Caterpillar Financial Services Corp	0.450		09/14/23		1,000,345
	1,000,000	Caterpillar Financial Services Corp	2.850		05/17/24		1,066,851
	1,000,000	Caterpillar Financial Services Corp	1.450		05/15/25		1,013,639
	1,000,000	Caterpillar Financial Services Corp	0.800		11/13/25		981,797
	3,000,000	Caterpillar Financial Services Corp	0.900		03/02/26		2,949,336
	500,000	Caterpillar Financial Services Corp	2.400		08/09/26		524,358
	1,000,000	Caterpillar Financial Services Corp	1.100		09/14/27		963,155

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE

$	2,775,000	Caterpillar, Inc	3.400	%	05/15/24	$	2,994,141
	500,000	Caterpillar, Inc	2.600		09/19/29		514,583
	1,500,000	Caterpillar, Inc	2.600		04/09/30		1,535,376
	1,000,000	Caterpillar, Inc	1.900		03/12/31		962,459
	225,000	Caterpillar, Inc	5.200		05/27/41		291,151
	2,363,000	Caterpillar, Inc	3.803		08/15/42		2,655,005
	300,000	Caterpillar, Inc	4.300		05/15/44		354,211
	750,000	Caterpillar, Inc	3.250		09/19/49		769,144
	750,000	Caterpillar, Inc	3.250		04/09/50		766,359
	1,300,000	CNH Industrial Capital LLC	3.875		10/15/21		1,322,019
	225,000	CNH Industrial Capital LLC	1.950		07/02/23		231,047
	300,000	CNH Industrial Capital LLC	4.200		01/15/24		327,021
	1,000,000	CNH Industrial Capital LLC	1.875		01/15/26		1,010,516
	500,000	CNH Industrial NV	3.850		11/15/27		552,908
	200,000	Crane Co	4.200		03/15/48		199,266
	200,000	Cummins, Inc	3.650		10/01/23		214,618
	500,000	Cummins, Inc	0.750		09/01/25		492,160
	1,000,000	Cummins, Inc	1.500		09/01/30		929,025
	200,000	Cummins, Inc	4.875		10/01/43		251,704
	750,000	Cummins, Inc	2.600		09/01/50		671,308
	350,000	Deere & Co	2.600		06/08/22		357,596
	218,000	Deere & Co	5.375		10/16/29		271,697
	1,025,000	Deere & Co	3.900		06/09/42		1,167,499
	500,000	Deere & Co	2.875		09/07/49		480,231
	1,000,000	Deere & Co	3.750		04/15/50		1,124,293
	825,000	Dover Corp	3.150		11/15/25		882,017
	100,000	Dover Corp	2.950		11/04/29		105,018
	100,000	Dover Corp	5.375		03/01/41		121,280
	2,200,000	Eaton Corp	2.750		11/02/22		2,282,537
	200,000	Eaton Corp	3.103		09/15/27		215,480
	150,000	Eaton Corp	4.000		11/02/32		169,939
	925,000	Eaton Corp	4.150		11/02/42		1,044,743
	200,000	Eaton Corp	3.915		09/15/47		216,708
	350,000	Emerson Electric Co	2.625		02/15/23		362,787
	200,000	Emerson Electric Co	3.150		06/01/25		215,342
	1,000,000	Emerson Electric Co	0.875		10/15/26		969,469
	500,000	Emerson Electric Co	1.800		10/15/27		501,953
	750,000	Emerson Electric Co	1.950		10/15/30		730,573
	200,000	Emerson Electric Co	5.250		11/15/39		258,591
	500,000	Emerson Electric Co	2.750		10/15/50		460,108
	150,000	Flowserve Corp	3.500		09/15/22		154,246
	200,000	Flowserve Corp	4.000		11/15/23		211,014
	500,000	Flowserve Corp	3.500		10/01/30		508,765
	875,000	Fortive Corp	3.150		06/15/26		943,956
	250,000	Fortive Corp	4.300		06/15/46		281,261
	600,000	Fortune Brands Home & Security, Inc	4.000		09/21/23		647,575
	200,000	Fortune Brands Home & Security, Inc	4.000		06/15/25		220,280
	1,000,000	Fortune Brands Home & Security, Inc	3.250		09/15/29		1,041,703
	200,000	GATX Corp	4.350		02/15/24		218,809
	500,000	GATX Corp	3.250		09/15/26		536,707
	200,000	GATX Corp	3.500		03/15/28		216,091
	200,000	GATX Corp	4.550		11/07/28		228,374
	425,000	GATX Corp	4.700		04/01/29		488,937

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE

$	500,000		GATX Corp	4.000	%	06/30/30	$	550,654
	1,000,000		GATX Corp	1.900		06/01/31		921,453
	225,000		GATX Corp	5.200		03/15/44		271,211
	1,000,000		GATX Corp	3.100		06/01/51		900,370
	325,000		General Dynamics Corp	2.250		11/15/22		333,717
	825,000		General Dynamics Corp	3.375		05/15/23		874,789
	300,000		General Dynamics Corp	1.875		08/15/23		310,394
	1,200,000		General Dynamics Corp	2.375		11/15/24		1,265,914
	975,000		General Dynamics Corp	3.500		05/15/25		1,065,973
	750,000		General Dynamics Corp	3.750		05/15/28		835,747
	225,000		General Dynamics Corp	3.600		11/15/42		241,786
	1,950,000		General Dynamics Corp	4.250		04/01/50		2,330,025
	2,350,000		General Electric Co	2.700		10/09/22		2,430,024
	250,000		General Electric Co	3.375		03/11/24		269,094
	5,503,000		General Electric Co	3.450		05/15/24		5,910,822
	1,102,000		General Electric Co	6.750		03/15/32		1,475,981
	250,000		General Electric Co	5.875		01/14/38		323,517
	100,000		General Electric Co	6.875		01/10/39		140,636
	750,000		General Electric Co	4.250		05/01/40		823,209
	2,875,000		General Electric Co	4.125		10/09/42		3,082,764
	3,500,000		General Electric Co	4.350		05/01/50		3,884,807
	100,000		Hexcel Corp	4.200		02/15/27		104,625
	1,000,000		Honeywell International, Inc	0.483		08/19/22		1,000,757
	500,000		Honeywell International, Inc	3.350		12/01/23		538,887
	2,300,000		Honeywell International, Inc	1.350		06/01/25		2,333,202
	1,700,000		Honeywell International, Inc	2.500		11/01/26		1,804,666
	950,000		Honeywell International, Inc	1.950		06/01/30		937,637
	782,000		Honeywell International, Inc	3.812		11/21/47		865,407
	575,000		Honeywell International, Inc	2.800		06/01/50		544,792
	100,000		Hubbell, Inc	3.625		11/15/22		105,269
	200,000		Hubbell, Inc	3.350		03/01/26		214,835
	500,000		Hubbell, Inc	3.150		08/15/27		536,615
	200,000		Hubbell, Inc	3.500		02/15/28		215,016
	1,000,000		Hubbell, Inc	2.300		03/15/31		978,543
	500,000		Huntington Ingalls Industries, Inc	3.844		05/01/25		545,528
	400,000		Huntington Ingalls Industries, Inc	3.483		12/01/27		431,564
	500,000		Huntington Ingalls Industries, Inc	4.200		05/01/30		554,639
	200,000		IDEX Corp	4.200		12/15/21		203,210
	500,000		IDEX Corp	3.000		05/01/30		514,929
	1,000,000		Illinois Tool Works, Inc	2.650		11/15/26		1,064,985
	200,000		Illinois Tool Works, Inc	4.875		09/15/41		252,643
	1,000,000		Illinois Tool Works, Inc	3.900		09/01/42		1,135,961
	300,000		Ingersoll-Rand Global Holding Co Ltd	4.250		06/15/23		323,856
	400,000	e	Ingersoll-Rand Global Holding Co Ltd	3.750		08/21/28		438,716
	200,000		Ingersoll-Rand Global Holding Co Ltd	5.750		06/15/43		269,972
	450,000		Ingersoll-Rand Global Holding Co Ltd	4.300		02/21/48		504,948
	600,000		Ingersoll-Rand Luxembourg Finance S.A.	3.550		11/01/24		648,766
	100,000		Ingersoll-Rand Luxembourg Finance S.A.	3.500		03/21/26		108,547
	1,000,000		Ingersoll-Rand Luxembourg Finance S.A.	3.800		03/21/29		1,097,077
	300,000		Ingersoll-Rand Luxembourg Finance S.A.	4.500		03/21/49		350,047
	200,000		John Deere Capital Corp	3.150		10/15/21		203,137
	600,000		John Deere Capital Corp	2.650		01/06/22		610,986
	2,700,000		John Deere Capital Corp	2.950		04/01/22		2,773,745
	200,000		John Deere Capital Corp	1.950		06/13/22		203,966

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE

$	400,000	John Deere Capital Corp	2.150	%	09/08/22	$	410,679
	200,000	John Deere Capital Corp	2.700		01/06/23		208,299
	1,425,000	John Deere Capital Corp	2.800		03/06/23		1,492,056
	250,000	John Deere Capital Corp	1.200		04/06/23		253,963
	300,000	John Deere Capital Corp	3.450		06/07/23		319,116
	1,000,000	John Deere Capital Corp	0.700		07/05/23		1,007,742
	1,000,000	John Deere Capital Corp	0.400		10/10/23		1,001,424
	200,000	John Deere Capital Corp	3.650		10/12/23		215,884
	750,000	John Deere Capital Corp	3.450		01/10/24		809,446
	500,000	John Deere Capital Corp	2.600		03/07/24		529,555
	850,000	John Deere Capital Corp	2.650		06/24/24		903,898
	500,000	John Deere Capital Corp	2.050		01/09/25		520,143
	125,000	John Deere Capital Corp	3.400		09/11/25		136,878
	1,000,000	John Deere Capital Corp	0.700		01/15/26		980,453
	500,000	John Deere Capital Corp	2.250		09/14/26		523,656
	250,000	John Deere Capital Corp	1.750		03/09/27		252,468
	200,000	John Deere Capital Corp	2.800		09/08/27		213,029
	200,000	John Deere Capital Corp	3.050		01/06/28		214,292
	2,000,000	John Deere Capital Corp	1.500		03/06/28		1,947,621
	500,000	John Deere Capital Corp	2.800		07/18/29		521,785
	500,000	John Deere Capital Corp	2.450		01/09/30		507,627
	1,000,000	John Deere Capital Corp	1.450		01/15/31		931,510
	474,000	Johnson Controls International plc	3.900		02/14/26		524,071
	2,325,000	Johnson Controls International plc	1.750		09/15/30		2,180,567
	207,000	Johnson Controls International plc	6.000		01/15/36		273,116
	35,000	Johnson Controls International plc	5.125		09/14/45		43,537
	300,000	Johnson Controls International plc	4.500		02/15/47		350,355
	280,000	Johnson Controls International plc (Step Bond)	3.625		07/02/24		303,065
	325,000	Johnson Controls International plc (Step Bond)	4.625		07/02/44		381,077
	72,000	Johnson Controls International plc (Step Bond)	4.950		07/02/64		87,034
	200,000	Kennametal, Inc	4.625		06/15/28		222,184
	1,000,000	Kennametal, Inc	2.800		03/01/31		978,057
	125,000	KLA-Tencor Corp	4.650		11/01/24		139,677
	300,000	KLA-Tencor Corp	4.100		03/15/29		337,272
	500,000	KLA-Tencor Corp	5.000		03/15/49		629,012
	475,000	L3Harris Technologies, Inc	3.850		06/15/23		506,763
	52,000	L3Harris Technologies, Inc	3.950		05/28/24		56,432
	600,000	L3Harris Technologies, Inc	3.850		12/15/26		664,285
	625,000	L3Harris Technologies, Inc	4.400		06/15/28		709,215
	1,275,000	L3Harris Technologies, Inc	4.400		06/15/28		1,446,798
	175,000	L3Harris Technologies, Inc	2.900		12/15/29		180,289
	1,000,000	L3Harris Technologies, Inc	1.800		01/15/31		936,609
	300,000	L3Harris Technologies, Inc	4.854		04/27/35		363,700
	600,000	L3Harris Technologies, Inc	5.054		04/27/45		744,800
	100,000	Legrand France S.A.	8.500		02/15/25		126,434
	100,000	Lennox International, Inc	3.000		11/15/23		105,465
	100,000	Lennox International, Inc	1.350		08/01/25		99,507
	100,000	Lennox International, Inc	1.700		08/01/27		98,371
	500,000	Lockheed Martin Corp	3.100		01/15/23		522,516
	300,000	Lockheed Martin Corp	2.900		03/01/25		320,820
	2,200,000	Lockheed Martin Corp	3.550		01/15/26		2,425,701
	150,000	Lockheed Martin Corp	1.850		06/15/30		146,065
	300,000	Lockheed Martin Corp	3.600		03/01/35		334,200

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE

$	500,000	Lockheed Martin Corp	4.500	%	05/15/36	$	603,361
	1,833,000	Lockheed Martin Corp	4.070		12/15/42		2,120,036
	275,000	Lockheed Martin Corp	3.800		03/01/45		302,575
	200,000	Lockheed Martin Corp	4.700		05/15/46		249,727
	1,150,000	Lockheed Martin Corp	2.800		06/15/50		1,084,620
	1,894,000	Lockheed Martin Corp	4.090		09/15/52		2,222,184
	200,000	Masco Corp	3.500		11/15/27		217,980
	200,000	Masco Corp	1.500		02/15/28		192,088
	500,000	Masco Corp	2.000		10/01/30		475,460
	550,000	Masco Corp	2.000		02/15/31		521,585
	700,000	Masco Corp	4.500		05/15/47		799,843
	1,000,000	Masco Corp	3.125		02/15/51		939,073
	400,000	Northrop Grumman Corp	3.250		08/01/23		426,624
	1,000,000	Northrop Grumman Corp	2.930		01/15/25		1,064,176
	300,000	Northrop Grumman Corp	3.200		02/01/27		324,270
	5,275,000	Northrop Grumman Corp	3.250		01/15/28		5,658,703
	425,000	Northrop Grumman Corp	4.400		05/01/30		489,737
	100,000	Northrop Grumman Corp	5.050		11/15/40		124,067
	700,000	Northrop Grumman Corp	4.750		06/01/43		840,866
	300,000	Northrop Grumman Corp	3.850		04/15/45		322,826
	2,450,000	Northrop Grumman Corp	4.030		10/15/47		2,724,748
	1,000,000	Northrop Grumman Corp	5.250		05/01/50		1,295,910
	100,000	Oshkosh Corp	3.100		03/01/30		102,955
	1,000,000	Otis Worldwide Corp	2.056		04/05/25		1,029,647
	1,000,000	Otis Worldwide Corp	2.293		04/05/27		1,025,378
	525,000	Otis Worldwide Corp	2.565		02/15/30		528,778
	500,000	Otis Worldwide Corp	3.112		02/15/40		492,229
	450,000	Otis Worldwide Corp	3.362		02/15/50		439,195
	250,000	Parker-Hannifin Corp	3.500		09/15/22		260,867
	200,000	Parker-Hannifin Corp	2.700		06/14/24		212,065
	300,000	Parker-Hannifin Corp	3.300		11/21/24		323,793
	650,000	Parker-Hannifin Corp	3.250		03/01/27		707,731
	1,825,000	Parker-Hannifin Corp	3.250		06/14/29		1,950,522
	200,000	Parker-Hannifin Corp	4.200		11/21/34		226,458
	200,000	Parker-Hannifin Corp	4.450		11/21/44		229,065
	750,000	Parker-Hannifin Corp	4.100		03/01/47		832,667
	225,000	Parker-Hannifin Corp	4.000		06/14/49		251,861
	1,150,000	Precision Castparts Corp	2.500		01/15/23		1,187,134
	775,000	Precision Castparts Corp	3.250		06/15/25		837,961
	400,000	Precision Castparts Corp	4.200		06/15/35		463,748
	100,000	Precision Castparts Corp	3.900		01/15/43		105,653
	1,000,000	Quanta Services, Inc	2.900		10/01/30		1,014,786
	625,000	Raytheon Technologies Corp	2.800		03/15/22		638,245
	3,875,000	Raytheon Technologies Corp	2.500		12/15/22		3,985,616
	500,000	Raytheon Technologies Corp	3.200		03/15/24		534,361
	300,000	Raytheon Technologies Corp	3.150		12/15/24		322,421
	1,325,000	Raytheon Technologies Corp	3.500		03/15/27		1,451,072
	200,000	Raytheon Technologies Corp	7.200		08/15/27		261,799
	4,500,000	Raytheon Technologies Corp	2.250		07/01/30		4,428,677
	100,000	Raytheon Technologies Corp	4.700		12/15/41		117,935
	125,000	Raytheon Technologies Corp	4.800		12/15/43		148,811
	150,000	Raytheon Technologies Corp	4.200		12/15/44		159,285
	700,000	Raytheon Technologies Corp	4.350		04/15/47		797,155
	2,000,000	Raytheon Technologies Corp	3.125		07/01/50		1,937,379

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE

$	400,000	Rockwell Automation, Inc	3.500	%	03/01/29	$	441,945
	400,000	Rockwell Automation, Inc	4.200		03/01/49		473,738
	550,000	Roper Technologies, Inc	2.800		12/15/21		558,257
	500,000	Roper Technologies, Inc	3.650		09/15/23		535,765
	500,000	Roper Technologies, Inc	2.350		09/15/24		522,613
	750,000	Roper Technologies, Inc	1.000		09/15/25		737,157
	1,100,000	Roper Technologies, Inc	3.800		12/15/26		1,220,635
	750,000	Roper Technologies, Inc	1.400		09/15/27		724,618
	300,000	Roper Technologies, Inc	4.200		09/15/28		338,001
	500,000	Roper Technologies, Inc	2.950		09/15/29		520,695
	475,000	Roper Technologies, Inc	2.000		06/30/30		453,839
	750,000	Roper Technologies, Inc	1.750		02/15/31		696,445
	200,000	Snap-on, Inc	3.250		03/01/27		215,096
	200,000	Snap-on, Inc	4.100		03/01/48		229,433
	500,000	Snap-on, Inc	3.100		05/01/50		499,468
	500,000	Stanley Black & Decker, Inc	3.400		03/01/26		548,584
	300,000	Stanley Black & Decker, Inc	4.250		11/15/28		343,889
	1,000,000	Stanley Black & Decker, Inc	2.300		03/15/30		1,004,827
	100,000	Stanley Black & Decker, Inc	5.200		09/01/40		127,128
	425,000	Stanley Black & Decker, Inc	4.850		11/15/48		533,022
	1,500,000	Stanley Black & Decker, Inc	2.750		11/15/50		1,365,773
	450,000	Stanley Black & Decker, Inc	4.000		03/15/60		476,392
	2,000,000	Teledyne Technologies, Inc	1.600		04/01/26		1,985,591
	1,000,000	Teledyne Technologies, Inc	2.250		04/01/28		995,180
	1,000,000	Teledyne Technologies, Inc	2.750		04/01/31		996,360
	150,000	Textron, Inc	4.000		03/15/26		163,793
	500,000	Textron, Inc	3.650		03/15/27		538,455
	100,000	Textron, Inc	3.375		03/01/28		105,108
	750,000	Textron, Inc	3.900		09/17/29		811,796
	500,000	Textron, Inc	3.000		06/01/30		507,864
	300,000	Textron, Inc	2.450		03/15/31		290,523
	250,000	Timken Co	3.875		09/01/24		267,635
	200,000	Timken Co	4.500		12/15/28		214,564
	100,000	Trimble, Inc	4.150		06/15/23		106,788
	625,000	Trimble, Inc	4.900		06/15/28		720,981
	52,000	United Technologies Corp	3.650		08/16/23		55,629
	1,250,000	United Technologies Corp	3.950		08/16/25		1,388,293
	725,000	United Technologies Corp	3.125		05/04/27		779,070
	2,550,000	United Technologies Corp	4.125		11/16/28		2,871,640
	250,000	United Technologies Corp	6.125		07/15/38		338,966
	750,000	United Technologies Corp	4.450		11/16/38		868,930
	200,000	United Technologies Corp	5.700		04/15/40		267,747
	2,150,000	United Technologies Corp	4.500		06/01/42		2,563,865
	1,650,000	United Technologies Corp	4.150		05/15/45		1,822,640
	3,325,000	United Technologies Corp	4.625		11/16/48		3,978,101
	200,000	Valmont Industries, Inc	5.000		10/01/44		217,357
	200,000	Valmont Industries, Inc	5.250		10/01/54		220,999
	600,000	Wabtec Corp	4.400		03/15/24		652,354
	300,000	Wabtec Corp	3.450		11/15/26		323,325
	875,000	Wabtec Corp	4.950		09/15/28		996,941
	500,000	Westinghouse Air Brake Technologies Corp	3.200		06/15/25		528,962
	750,000	WW Grainger, Inc	1.850		02/15/25		772,843
	800,000	WW Grainger, Inc	4.600		06/15/45		963,828

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE

$	200,000		WW Grainger, Inc	3.750	%	05/15/46	$	209,040
	125,000		WW Grainger, Inc	4.200		05/15/47		141,239
	300,000		Xylem, Inc	4.875		10/01/21		306,366
	775,000		Xylem, Inc	3.250		11/01/26		841,924
	225,000		Xylem, Inc	1.950		01/30/28		224,626
	150,000		Xylem, Inc	2.250		01/30/31		147,181
	100,000		Xylem, Inc	4.375		11/01/46		111,730
			TOTAL CAPITAL GOODS					299,754,457

COMMERCIAL & PROFESSIONAL SERVICES - 0.2%
	750,000		BayCare Health System, Inc	3.831		11/15/50		848,735
	225,000	g	Daimler Finance North America LLC	3.650		02/22/24		242,643
	925,000		Daimler Finance North America LLC	8.500		01/18/31		1,365,874
	675,000		Equifax, Inc	2.300		06/01/21		675,931
	200,000		Equifax, Inc	3.600		08/15/21		202,308
	200,000		Equifax, Inc	3.300		12/15/22		208,108
	200,000		Equifax, Inc	3.950		06/15/23		214,049
	750,000		Equifax, Inc	2.600		12/01/24		792,198
	125,000		Equifax, Inc	2.600		12/15/25		131,037
	100,000		Equifax, Inc	3.100		05/15/30		103,799
	600,000		IHS Markit Ltd	4.125		08/01/23		642,966
	250,000		IHS Markit Ltd	3.625		05/01/24		268,206
	100,000		IHS Markit Ltd	4.750		08/01/28		115,504
	1,050,000		IHS Markit Ltd	4.250		05/01/29		1,182,752
	500,000	g	Leidos, Inc	2.950		05/15/23		522,715
	500,000	g	Leidos, Inc	3.625		05/15/25		542,499
	100,000	g	Leidos, Inc	4.375		05/15/30		111,164
	1,000,000	g	Leidos, Inc	2.300		02/15/31		944,350
	380,000		MidMichigan Health	3.409		06/01/50		381,741
	100,000		Partners Healthcare System, Inc	3.765		07/01/48		109,752
	750,000		Partners Healthcare System, Inc	3.192		07/01/49		749,444
	100,000		Partners Healthcare System, Inc	4.117		07/01/55		113,855
	1,000,000		Partners Healthcare System, Inc	3.342		07/01/60		1,018,035
	725,000		RELX Capital, Inc	3.500		03/16/23		763,634
	625,000		RELX Capital, Inc	4.000		03/18/29		689,409
	100,000		RELX Capital, Inc	3.000		05/22/30		103,715
	750,000		Republic Services, Inc	3.200		03/15/25		803,815
	275,000		Republic Services, Inc	0.875		11/15/25		269,170
	900,000		Republic Services, Inc	2.900		07/01/26		959,788
	100,000		Republic Services, Inc	3.375		11/15/27		109,185
	500,000		Republic Services, Inc	2.300		03/01/30		496,682
	1,000,000		Republic Services, Inc	1.450		02/15/31		914,214
	575,000		Republic Services, Inc	1.750		02/15/32		533,362
	1,000,000		Republic Services, Inc	3.050		03/01/50		950,845
	880,000		Rockefeller Foundation	2.492		10/01/50		805,664
	300,000		Steelcase, Inc	5.125		01/18/29		349,883
	600,000		Thomson Reuters Corp	4.300		11/23/23		650,396
	1,200,000		Thomson Reuters Corp	3.350		05/15/26		1,296,792
	145,000		Thomson Reuters Corp	5.850		04/15/40		185,089
	200,000		Thomson Reuters Corp	5.650		11/23/43		251,690
	200,000		Verisk Analytics, Inc	5.800		05/01/21		200,742
	500,000		Verisk Analytics, Inc	4.000		06/15/25		551,446
	850,000		Verisk Analytics, Inc	4.125		03/15/29		944,565
	300,000		Verisk Analytics, Inc	5.500		06/15/45		378,296

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE

$	200,000	Verisk Analytics, Inc	3.625	%	05/15/50	$	196,606
	750,000	Waste Connections, Inc	3.500		05/01/29		808,600
	500,000	Waste Connections, Inc	2.600		02/01/30		502,131
	500,000	Waste Connections, Inc	3.050		04/01/50		470,870
	850,000	Waste Management, Inc	2.900		09/15/22		875,979
	100,000	Waste Management, Inc	2.400		05/15/23		103,681
	1,000,000	Waste Management, Inc	3.500		05/15/24		1,079,894
	1,225,000	Waste Management, Inc	3.150		11/15/27		1,325,670
	500,000	Waste Management, Inc	1.150		03/15/28		473,659
	1,000,000	Waste Management, Inc	1.500		03/15/31		924,488
	234,000	Waste Management, Inc	3.900		03/01/35		265,466
	325,000	Waste Management, Inc	4.100		03/01/45		366,919
	900,000	Waste Management, Inc	4.150		07/15/49		1,029,959
	250,000	Waste Management, Inc	2.500		11/15/50		215,923
		TOTAL COMMERCIAL & PROFESSIONAL SERVICES					32,335,892

CONSUMER DURABLES & APPAREL - 0.2%
	300,000	Coach, Inc	3.000		07/15/22		306,899
	700,000	Coach, Inc	4.125		07/15/27		758,787
	500,000	DR Horton, Inc	4.375		09/15/22		522,136
	750,000	DR Horton, Inc	2.500		10/15/24		787,605
	500,000	DR Horton, Inc	2.600		10/15/25		525,898
	1,000,000	DR Horton, Inc	1.400		10/15/27		972,588
	750,000	Hasbro, Inc	3.550		11/19/26		809,433
	775,000	Hasbro, Inc	3.500		09/15/27		827,394
	1,000,000	Hasbro, Inc	3.900		11/19/29		1,075,461
	100,000	Hasbro, Inc	6.350		03/15/40		127,791
	200,000	Hasbro, Inc	5.100		05/15/44		222,470
	200,000	Leggett & Platt, Inc	3.400		08/15/22		205,732
	475,000	Leggett & Platt, Inc	3.500		11/15/27		509,904
	350,000	Leggett & Platt, Inc	4.400		03/15/29		391,113
	1,900,000	Lennar Corp	4.750		11/29/27		2,181,428
	100,000	Mohawk Industries, Inc	3.850		02/01/23		105,147
	750,000	Mohawk Industries, Inc	3.625		05/15/30		804,383
	300,000	NIKE, Inc	2.250		05/01/23		310,255
	650,000	NIKE, Inc	2.375		11/01/26		682,983
	300,000	NIKE, Inc	3.625		05/01/43		324,347
	825,000	NIKE, Inc	3.875		11/01/45		940,913
	200,000	NIKE, Inc	3.375		11/01/46		206,935
	2,440,000	NIKE, Inc	3.375		03/27/50		2,561,358
	150,000	NVR, Inc	3.950		09/15/22		155,564
	1,000,000	NVR, Inc	3.000		05/15/30		1,026,344
	1,000,000	Ralph Lauren Corp	1.700		06/15/22		1,015,861
	200,000	Ralph Lauren Corp	3.750		09/15/25		220,069
	1,000,000	Ralph Lauren Corp	2.950		06/15/30		1,031,533
	300,000	VF Corp	2.050		04/23/22		304,915
	400,000	VF Corp	2.400		04/23/25		417,010
	1,000,000	VF Corp	2.800		04/23/27		1,054,199
	200,000	VF Corp	2.950		04/23/30		207,609
	150,000	Whirlpool Corp	4.700		06/01/22		156,915
	100,000	Whirlpool Corp	3.700		03/01/23		105,873
	100,000	Whirlpool Corp	4.000		03/01/24		109,141
	925,000	Whirlpool Corp	4.750		02/26/29		1,071,527

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE

$	200,000	Whirlpool Corp	4.500	%	06/01/46	$	218,343
	775,000	Whirlpool Corp	4.600		05/15/50		891,002
		TOTAL CONSUMER DURABLES & APPAREL					24,146,865

CONSUMER SERVICES - 0.5%
	14,500,000	Anheuser-Busch Cos LLC	3.650		02/01/26		15,942,601
	3,150,000	Anheuser-Busch Cos LLC	4.700		02/01/36		3,690,126
	11,375,000	Anheuser-Busch Cos LLC	4.900		02/01/46		13,587,936
	300,000	Board of Trustees of The Leland Stanford Junior University	3.647		05/01/48		343,995
	500,000	Booking Holdings, Inc	4.100		04/13/25		557,138
	500,000	Booking Holdings, Inc	4.500		04/13/27		580,165
	1,100,000	Booking Holdings, Inc	4.625		04/13/30		1,281,341
	1,000,000	California Endowment	2.498		04/01/51		919,864
	100,000	Children’s Hospital Corp	4.115		01/01/47		118,345
	1,000,000	Children’s Hospital Corp	2.585		02/01/50		900,410
	500,000	Choice Hotels International, Inc	3.700		12/01/29		523,980
	600,000	Cintas Corp No 2	2.900		04/01/22		613,879
	675,000	Cintas Corp No 2	3.700		04/01/27		749,548
	500,000	CommonSpirit Health	2.950		11/01/22		515,916
	750,000	CommonSpirit Health	2.760		10/01/24		794,651
	1,000,000	CommonSpirit Health	3.347		10/01/29		1,066,979
	1,000,000	CommonSpirit Health	2.782		10/01/30		1,011,809
	300,000	CommonSpirit Health	4.350		11/01/42		331,092
	750,000	CommonSpirit Health	3.817		10/01/49		793,296
	715,000	CommonSpirit Health	4.187		10/01/49		771,158
	500,000	CommonSpirit Health	3.910		10/01/50		509,352
	200,000	Darden Restaurants, Inc	3.850		05/01/27		217,720
	300,000	Darden Restaurants, Inc	4.550		02/15/48		317,264
	500,000	Emory University	2.143		09/01/30		494,357
	500,000	Emory University	2.969		09/01/50		494,739
	200,000	Hyatt Hotels Corp	3.375		07/15/23		209,103
	100,000	Hyatt Hotels Corp	5.375		04/23/25		112,196
	100,000	Hyatt Hotels Corp	4.850		03/15/26		110,603
	200,000	Hyatt Hotels Corp	4.375		09/15/28		214,388
	1,100,000	Hyatt Hotels Corp	5.750		04/23/30		1,285,562
	750,000	Johns Hopkins University	2.813		01/01/60		700,606
	1,000,000	Las Vegas Sands Corp	3.200		08/08/24		1,042,624
	500,000	Las Vegas Sands Corp	2.900		06/25/25		511,874
	625,000	Las Vegas Sands Corp	3.500		08/18/26		651,677
	750,000	Las Vegas Sands Corp	3.900		08/08/29		770,702
	500,000	Leland Stanford Junior University	1.289		06/01/27		499,120
	1,000,000	Leland Stanford Junior University	2.413		06/01/50		911,634
	300,000	Marriott International, Inc	4.150		12/01/23		322,680
	300,000	Marriott International, Inc	3.600		04/15/24		319,214
	125,000	Marriott International, Inc	5.750		05/01/25		143,437
	1,250,000	Marriott International, Inc	4.000		04/15/28		1,331,055
	300,000	Marriott International, Inc	4.650		12/01/28		334,579
	400,000	Marriott International, Inc	4.625		06/15/30		447,478
	1,000,000	Marriott International, Inc	2.850		04/15/31		981,447
	1,500,000	Marriott International, Inc	3.500		10/15/32		1,556,542
	1,000,000	Massachusetts Institute of Technology	2.294		07/01/51		892,846
	750,000	Massachusetts Institute of Technology	5.600		07/01/11		1,145,761
	200,000	Massachusetts Institute of Technology	4.678		07/01/14		257,662

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE

$	300,000	Massachusetts Institute of Technology	3.885	%	07/01/16	$	324,640
	650,000	McDonald’s Corp	3.350		04/01/23		684,764
	150,000	McDonald’s Corp	1.450		09/01/25		151,434
	2,950,000	McDonald’s Corp	3.700		01/30/26		3,251,230
	300,000	McDonald’s Corp	3.500		03/01/27		328,892
	775,000	McDonald’s Corp	3.800		04/01/28		857,855
	1,250,000	McDonald’s Corp	2.625		09/01/29		1,281,937
	500,000	McDonald’s Corp	2.125		03/01/30		488,182
	2,225,000	McDonald’s Corp	4.700		12/09/35		2,630,840
	250,000	McDonald’s Corp	6.300		10/15/37		345,765
	100,000	McDonald’s Corp	6.300		03/01/38		139,065
	250,000	McDonald’s Corp	4.600		05/26/45		292,294
	1,275,000	McDonald’s Corp	4.875		12/09/45		1,543,439
	725,000	McDonald’s Corp	4.450		03/01/47		842,606
	625,000	McDonald’s Corp	4.450		09/01/48		728,841
	1,825,000	McDonald’s Corp	3.625		09/01/49		1,905,055
	1,350,000	McDonald’s Corp	4.200		04/01/50		1,533,263
	750,000	Northeastern University	2.894		10/01/50		711,777
	200,000	Northwestern University	3.868		12/01/48		224,558
	750,000	Northwestern University	2.640		12/01/50		712,626
	200,000	Northwestern University	3.662		12/01/57		224,504
	1,000,000	President & Fellows of Harvard College	2.517		10/15/50		932,702
	750,000	President and Fellows of Harvard College	3.619		10/01/37		840,946
	200,000	President and Fellows of Harvard College	3.150		07/15/46		211,017
	200,000	President and Fellows of Harvard College	3.300		07/15/56		217,505
	1,250,000	Sands China Ltd	4.600		08/08/23		1,336,737
	2,800,000	Sands China Ltd	5.125		08/08/25		3,131,772
	1,100,000	Sands China Ltd	5.400		08/08/28		1,256,684
	200,000	Starbucks Corp	2.700		06/15/22		204,711
	525,000	Starbucks Corp	3.850		10/01/23		564,126
	175,000	Starbucks Corp	2.450		06/15/26		183,237
	500,000	Starbucks Corp	2.000		03/12/27		511,609
	750,000	Starbucks Corp	3.500		03/01/28		812,725
	650,000	Starbucks Corp	4.000		11/15/28		727,801
	750,000	Starbucks Corp	3.550		08/15/29		819,920
	500,000	Starbucks Corp	2.250		03/12/30		491,802
	1,500,000	Starbucks Corp	2.550		11/15/30		1,502,975
	200,000	Starbucks Corp	4.300		06/15/45		219,750
	200,000	Starbucks Corp	3.750		12/01/47		204,610
	650,000	Starbucks Corp	4.500		11/15/48		756,757
	1,000,000	Starbucks Corp	4.450		08/15/49		1,160,250
	500,000	Starbucks Corp	3.350		03/12/50		489,195
	1,000,000	Starbucks Corp	3.500		11/15/50		1,001,110
	200,000	Trinity Acquisition plc	3.500		09/15/21		202,133
	200,000	Trinity Acquisition plc	4.400		03/15/26		225,125
	500,000	Trustees of Boston College	3.129		07/01/52		496,079
	100,000	Trustees of Boston University	4.061		10/01/48		117,049
	1,000,000	Trustees of Princeton University	2.516		07/01/50		934,818
	1,000,000	University of Chicago	3.000		10/01/52		983,220
	1,000,000	University of Southern California	3.226		10/01/20		895,314
	200,000	Wesleyan University	4.781		07/01/16		237,716
	500,000	Yale University	0.873		04/15/25		500,631
	750,000	Yale University	1.482		04/15/30		714,760

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE

$	750,000		Yale University	2.402	%	04/15/50	$	687,876
			TOTAL CONSUMER SERVICES					104,656,680

DIVERSIFIED FINANCIALS - 2.6%
	800,000		AerCap Ireland Capital DAC	3.950		02/01/22		818,520
	200,000		AerCap Ireland Capital DAC	3.300		01/23/23		207,366
	300,000		AerCap Ireland Capital DAC	4.125		07/03/23		318,260
	1,500,000		AerCap Ireland Capital DAC	4.500		09/15/23		1,613,415
	600,000		AerCap Ireland Capital DAC	4.875		01/16/24		652,887
	1,000,000		AerCap Ireland Capital DAC	3.150		02/15/24		1,041,944
	750,000		AerCap Ireland Capital DAC	2.875		08/14/24		773,505
	1,675,000		AerCap Ireland Capital DAC	3.500		01/15/25		1,756,467
	300,000		AerCap Ireland Capital DAC	4.450		10/01/25		325,917
	500,000		AerCap Ireland Capital DAC	1.750		01/30/26		485,632
	500,000		AerCap Ireland Capital DAC	4.450		04/03/26		541,328
	250,000		AerCap Ireland Capital DAC	3.650		07/21/27		262,332
	1,000,000		AerCap Ireland Capital DAC	4.625		10/15/27		1,096,953
	200,000	e	AerCap Ireland Capital DAC	3.875		01/23/28		209,566
	200,000		Affiliated Managers Group, Inc	4.250		02/15/24		219,235
	1,000,000		Affiliated Managers Group, Inc	3.300		06/15/30		1,038,636
	20,000		Ahold Finance USA LLC	6.875		05/01/29		26,563
	1,000,000		Ally Financial, Inc	4.125		02/13/22		1,030,458
	1,000,000		Ally Financial, Inc	3.050		06/05/23		1,045,628
	2,000,000		Ally Financial, Inc	1.450		10/02/23		2,030,278
	500,000		Ally Financial, Inc	5.800		05/01/25		579,575
	2,000,000		Ally Financial, Inc	8.000		11/01/31		2,785,348
	200,000		American Express Co	3.700		11/05/21		203,445
	1,050,000		American Express Co	2.500		08/01/22		1,078,260
	175,000		American Express Co	2.650		12/02/22		181,523
	5,000,000		American Express Co	3.400		02/27/23		5,262,573
	2,000,000		American Express Co	3.700		08/03/23		2,140,669
	750,000		American Express Co	3.000		10/30/24		804,675
	1,000,000		American Express Co	4.200		11/06/25		1,130,212
	2,500,000		American Express Co	3.125		05/20/26		2,688,213
	525,000		American Express Co	4.050		12/03/42		584,684
	1,050,000		American Express Credit Corp	2.700		03/03/22		1,071,190
	450,000		American Honda Finance Corp	1.650		07/12/21		451,655
	1,000,000		American Honda Finance Corp	1.950		05/20/22		1,018,482
	1,000,000		American Honda Finance Corp	0.400		10/21/22		1,000,315
	325,000		American Honda Finance Corp	2.005		01/10/23		334,107
	1,250,000		American Honda Finance Corp	0.875		07/07/23		1,258,724
	300,000		American Honda Finance Corp	3.450		07/14/23		320,028
	750,000		American Honda Finance Corp	0.650		09/08/23		751,479
	500,000		American Honda Finance Corp	3.625		10/10/23		537,032
	300,000		American Honda Finance Corp	3.550		01/12/24		323,840
	200,000		American Honda Finance Corp	2.900		02/16/24		212,298
	1,000,000		American Honda Finance Corp	2.400		06/27/24		1,048,666
	1,000,000		American Honda Finance Corp	0.550		07/12/24		992,772
	500,000		American Honda Finance Corp	2.150		09/10/24		521,193
	1,000,000		American Honda Finance Corp	1.200		07/08/25		995,747
	750,000		American Honda Finance Corp	1.000		09/10/25		738,498
	100,000		American Honda Finance Corp	2.300		09/09/26		104,623
	1,000,000		American Honda Finance Corp	2.350		01/08/27		1,032,869
	500,000		American Honda Finance Corp	3.500		02/15/28		546,545

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE

$	1,000,000		American Honda Finance Corp	2.000	%	03/24/28	$	997,755
	1,500,000		American Honda Finance Corp	1.800		01/13/31		1,411,330
	150,000		Ameriprise Financial, Inc	3.000		03/22/22		153,910
	875,000		Ameriprise Financial, Inc	4.000		10/15/23		950,407
	300,000		Ameriprise Financial, Inc	3.700		10/15/24		328,769
	125,000		Ameriprise Financial, Inc	3.000		04/02/25		132,994
	200,000		Ameriprise Financial, Inc	2.875		09/15/26		212,920
	1,000,000		Andrew W Mellon Foundation	0.947		08/01/27		973,211
	200,000		Ares Capital Corp	3.625		01/19/22		204,164
	600,000		Ares Capital Corp	3.500		02/10/23		625,620
	850,000		Ares Capital Corp	4.200		06/10/24		916,490
	500,000		Ares Capital Corp	4.250		03/01/25		536,415
	500,000		Ares Capital Corp	3.250		07/15/25		515,762
	1,200,000		Ares Capital Corp	3.875		01/15/26		1,264,669
	1,500,000		Ares Capital Corp	2.150		07/15/26		1,460,736
	227,000		AXA Equitable Holdings, Inc	3.900		04/20/23		241,332
	1,375,000		AXA Equitable Holdings, Inc	4.350		04/20/28		1,539,608
	975,000		AXA Equitable Holdings, Inc	5.000		04/20/48		1,173,638
	2,000,000		Bank of ,NV Scotia	1.050		03/02/26		1,968,198
	500,000		Bank of New York Mellon Corp	3.550		09/23/21		506,375
	375,000		Bank of New York Mellon Corp	1.950		08/23/22		383,519
	750,000		Bank of New York Mellon Corp	1.850		01/27/23		771,630
	2,625,000		Bank of New York Mellon Corp	2.950		01/29/23		2,744,417
	1,025,000		Bank of New York Mellon Corp	3.500		04/28/23		1,090,061
	825,000		Bank of New York Mellon Corp	2.200		08/16/23		858,006
	1,000,000		Bank of New York Mellon Corp	0.350		12/07/23		999,072
	350,000		Bank of New York Mellon Corp	3.650		02/04/24		380,174
	800,000		Bank of New York Mellon Corp	3.250		09/11/24		868,703
	1,750,000		Bank of New York Mellon Corp	2.100		10/24/24		1,841,863
	500,000		Bank of New York Mellon Corp	3.000		02/24/25		535,847
	725,000		Bank of New York Mellon Corp	1.600		04/24/25		738,856
	1,500,000		Bank of New York Mellon Corp	0.750		01/28/26		1,470,159
	500,000		Bank of New York Mellon Corp	2.800		05/04/26		534,293
	500,000		Bank of New York Mellon Corp	2.450		08/17/26		525,419
	800,000		Bank of New York Mellon Corp	3.250		05/16/27		869,999
	1,000,000		Bank of New York Mellon Corp	3.400		01/29/28		1,093,612
	600,000	e	Bank of New York Mellon Corp	3.850		04/28/28		676,994
	400,000		Bank of New York Mellon Corp	3.300		08/23/29		429,166
	1,500,000		Bank of New York Mellon Corp	1.650		01/28/31		1,427,157
	1,325,000		Berkshire Hathaway, Inc	2.750		03/15/23		1,384,419
	2,400,000		Berkshire Hathaway, Inc	3.125		03/15/26		2,612,807
	800,000		Berkshire Hathaway, Inc	4.500		02/11/43		959,106
	250,000		BGC Partners, Inc	5.375		07/24/23		271,698
	500,000		BGC Partners, Inc	3.750		10/01/24		524,560
	750,000		BGC Partners, Inc	4.375		12/15/25		798,543
	5,325,000		BlackRock, Inc	3.375		06/01/22		5,516,344
	500,000		BlackRock, Inc	3.500		03/18/24		543,795
	850,000		BlackRock, Inc	3.250		04/30/29		920,644
	1,450,000		BlackRock, Inc	1.900		01/28/31		1,402,477
	200,000		Block Financial LLC	5.500		11/01/22		209,896
	200,000		Block Financial LLC	5.250		10/01/25		223,904
	750,000		Block Financial LLC	3.875		08/15/30		773,849
	400,000		BPCE S.A.	2.750		12/02/21		406,527

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE

$	1,025,000	BPCE S.A.	4.000	%	04/15/24	$	1,120,842
	300,000	BPCE S.A.	3.375		12/02/26		326,471
	300,000	Brookfield Asset Management, Inc	4.000		01/15/25		327,749
	1,000,000	Brookfield Finance LLC	3.450		04/15/50		946,556
	550,000	Brookfield Finance, Inc	4.000		04/01/24		597,225
	200,000	Brookfield Finance, Inc	4.250		06/02/26		225,271
	300,000	Brookfield Finance, Inc	3.900		01/25/28		329,631
	600,000	Brookfield Finance, Inc	4.850		03/29/29		693,353
	300,000	Brookfield Finance, Inc	4.350		04/15/30		338,698
	725,000	Brookfield Finance, Inc	4.700		09/20/47		826,766
	1,000,000	Brookfield Finance, Inc	3.500		03/30/51		952,995
	275,000	Capital One Bank USA NA	3.375		02/15/23		288,857
	2,250,000	Capital One Financial Corp	3.050		03/09/22		2,301,203
	1,925,000	Capital One Financial Corp	3.200		01/30/23		2,015,245
	500,000	Capital One Financial Corp	2.600		05/11/23		519,996
	150,000	Capital One Financial Corp	3.500		06/15/23		159,550
	300,000	Capital One Financial Corp	3.900		01/29/24		324,354
	750,000	Capital One Financial Corp	3.300		10/30/24		808,614
	125,000	Capital One Financial Corp	3.200		02/05/25		133,257
	625,000	Capital One Financial Corp	4.250		04/30/25		692,445
	850,000	Capital One Financial Corp	4.200		10/29/25		940,805
	700,000	Capital One Financial Corp	3.750		07/28/26		760,526
	1,075,000	Capital One Financial Corp	3.750		03/09/27		1,180,076
	1,000,000	Capital One Financial Corp	3.650		05/11/27		1,093,625
	2,700,000	Capital One Financial Corp	3.800		01/31/28		2,967,679
	1,000,000	Cboe Global Markets, Inc	1.625		12/15/30		931,298
	450,000	CBOE Holdings, Inc	3.650		01/12/27		495,061
	500,000	Celanese US Holdings LLC	4.625		11/15/22		529,839
	200,000	Celanese US Holdings LLC	3.500		05/08/24		214,449
	425,000	Charles Schwab Corp	2.650		01/25/23		441,815
	300,000	Charles Schwab Corp	3.550		02/01/24		324,156
	200,000	Charles Schwab Corp	3.000		03/10/25		213,841
	1,250,000	Charles Schwab Corp	3.850		05/21/25		1,381,619
	1,500,000	Charles Schwab Corp	0.900		03/11/26		1,480,579
	500,000	Charles Schwab Corp	3.200		03/02/27		543,368
	200,000	Charles Schwab Corp	3.200		01/25/28		216,496
	2,000,000	Charles Schwab Corp	2.000		03/20/28		2,008,880
	300,000	Charles Schwab Corp	4.000		02/01/29		338,764
	1,000,000	Charles Schwab Corp	3.250		05/22/29		1,076,035
	1,500,000	Charles Schwab Corp	1.650		03/11/31		1,401,111
	1,500,000	CI Financial Corp	3.200		12/17/30		1,492,098
	350,000	CME Group, Inc	3.000		09/15/22		363,476
	475,000	CME Group, Inc	3.000		03/15/25		507,862
	500,000	CME Group, Inc	3.750		06/15/28		556,050
	400,000	CME Group, Inc	5.300		09/15/43		540,395
	500,000	CME Group, Inc	4.150		06/15/48		599,674
	2,000,000	Credit Suisse AG.	1.000		05/05/23		2,010,897
	2,000,000	Credit Suisse AG.	0.495		02/02/24		1,977,436
	2,900,000	Credit Suisse AG.	3.625		09/09/24		3,142,715
	500,000	Credit Suisse AG.	2.950		04/09/25		530,021
	1,275,000	Credit Suisse Group Funding Guernsey Ltd	3.800		06/09/23		1,352,877
	2,300,000	Credit Suisse Group Funding Guernsey Ltd	3.750		03/26/25		2,478,240
	2,750,000	Credit Suisse Group Funding Guernsey Ltd	4.550		04/17/26		3,076,593
	1,750,000	Credit Suisse Group Funding Guernsey Ltd	4.875		05/15/45		2,081,470

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE

$	500,000	Deutsche Bank AG.	3.375	%	05/12/21	$	501,430
	400,000	Deutsche Bank AG.	3.300		11/16/22		415,402
	750,000	Deutsche Bank AG.	3.950		02/27/23		792,118
	525,000	Deutsche Bank AG.	3.700		05/30/24		561,389
	1,000,000	Deutsche Bank AG.	2.222		09/18/24		1,026,468
	2,000,000	Deutsche Bank AG.	1.447		04/01/25		1,999,304
	1,000,000	Deutsche Bank AG.	3.961		11/26/25		1,082,782
	1,800,000	Deutsche Bank AG.	4.100		01/13/26		1,944,946
	3,000,000	Deutsche Bank AG.	1.686		03/19/26		2,993,335
	2,000,000	Deutsche Bank AG.	2.129		11/24/26		2,005,032
	825,000	Deutsche Bank AG.	3.547		09/18/31		851,884
	2,575,000	Diageo Investment Corp	2.875		05/11/22		2,650,283
	100,000	Diageo Investment Corp	4.250		05/11/42		117,629
	100,000	Discover Financial Services	5.200		04/27/22		104,825
	700,000	Discover Financial Services	3.950		11/06/24		762,734
	200,000	Discover Financial Services	4.500		01/30/26		225,511
	350,000	Discover Financial Services	4.100		02/09/27		388,433
	475,000	E*TRADE Financial Corp	2.950		08/24/22		490,515
	200,000	E*TRADE Financial Corp	3.800		08/24/27		221,700
	300,000	E*TRADE Financial Corp	4.500		06/20/28		342,374
	300,000	Eaton Vance Corp	3.625		06/15/23		320,027
	200,000	Eaton Vance Corp	3.500		04/06/27		217,169
	750,000	Ford Foundation	2.415		06/01/50		676,489
	525,000	Ford Foundation	2.815		06/01/70		472,593
	150,000	Franklin Resources, Inc	2.800		09/15/22		155,180
	200,000	Franklin Resources, Inc	2.850		03/30/25		212,261
	1,000,000	Franklin Resources, Inc	1.600		10/30/30		925,078
	750,000	FS KKR Capital Corp	4.125		02/01/25		771,157
	750,000	FS KKR Capital Corp	3.400		01/15/26		743,903
	5,768,000	GE Capital International Funding Co	3.373		11/15/25		6,254,214
	8,444,000	GE Capital International Funding Co	4.418		11/15/35		9,666,353
	2,000,000	General Motors Financial Co, Inc	3.550		04/09/21		2,000,703
	875,000	General Motors Financial Co, Inc	3.200		07/06/21		878,799
	575,000	General Motors Financial Co, Inc	4.200		11/06/21		587,414
	1,000,000	General Motors Financial Co, Inc	3.450		01/14/22		1,020,074
	2,700,000	General Motors Financial Co, Inc	3.450		04/10/22		2,763,422
	525,000	General Motors Financial Co, Inc	3.150		06/30/22		539,776
	850,000	General Motors Financial Co, Inc	3.550		07/08/22		880,502
	300,000	General Motors Financial Co, Inc	3.250		01/05/23		312,507
	1,125,000	General Motors Financial Co, Inc	3.700		05/09/23		1,184,910
	725,000	General Motors Financial Co, Inc	4.150		06/19/23		777,840
	650,000	General Motors Financial Co, Inc	5.100		01/17/24		718,822
	725,000	General Motors Financial Co, Inc	3.950		04/13/24		780,273
	1,500,000	General Motors Financial Co, Inc	3.500		11/07/24		1,608,928
	125,000	General Motors Financial Co, Inc	4.000		01/15/25		135,779
	1,000,000	General Motors Financial Co, Inc	2.900		02/26/25		1,048,488
	5,175,000	General Motors Financial Co, Inc	4.350		04/09/25		5,676,042
	3,000,000	General Motors Financial Co, Inc	2.750		06/20/25		3,131,709
	450,000	General Motors Financial Co, Inc	4.300		07/13/25		494,826
	500,000	General Motors Financial Co, Inc	1.250		01/08/26		490,596
	275,000	General Motors Financial Co, Inc	5.250		03/01/26		315,034
	525,000	General Motors Financial Co, Inc	4.000		10/06/26		572,765
	1,400,000	General Motors Financial Co, Inc	4.350		01/17/27		1,554,712

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE

$	1,000,000	General Motors Financial Co, Inc	2.700	%	08/20/27	$	1,018,766
	1,100,000	General Motors Financial Co, Inc	3.850		01/05/28		1,184,734
	2,400,000	General Motors Financial Co, Inc	5.650		01/17/29		2,847,022
	1,500,000	General Motors Financial Co, Inc	3.600		06/21/30		1,582,239
	2,000,000	General Motors Financial Co, Inc	2.350		01/08/31		1,909,939
	500,000	Goldman Sachs BDC, Inc	3.750		02/10/25		527,498
	500,000	Goldman Sachs BDC, Inc	2.875		01/15/26		505,365
	1,300,000	Goldman Sachs Group, Inc	5.250		07/27/21		1,320,051
	5,625,000	Goldman Sachs Group, Inc	5.750		01/24/22		5,869,901
	1,350,000	Goldman Sachs Group, Inc	3.000		04/26/22		1,352,112
	2,275,000	Goldman Sachs Group, Inc	3.625		01/22/23		2,398,800
	2,000,000	Goldman Sachs Group, Inc	0.481		01/27/23		1,997,258
	5,425,000	Goldman Sachs Group, Inc	3.200		02/23/23		5,676,930
	1,000,000	Goldman Sachs Group, Inc	0.627		11/17/23		1,000,180
	2,575,000	Goldman Sachs Group, Inc	3.625		02/20/24		2,771,086
	2,025,000	Goldman Sachs Group, Inc	4.000		03/03/24		2,206,652
	425,000	Goldman Sachs Group, Inc	3.850		07/08/24		461,912
	600,000	Goldman Sachs Group, Inc	3.500		01/23/25		647,490
	250,000	Goldman Sachs Group, Inc	3.500		04/01/25		270,853
	1,100,000	Goldman Sachs Group, Inc	3.750		05/22/25		1,200,809
	2,375,000	Goldman Sachs Group, Inc	3.272		09/29/25		2,548,541
	575,000	Goldman Sachs Group, Inc	4.250		10/21/25		641,816
	700,000	Goldman Sachs Group, Inc	0.855		02/12/26		688,032
	1,125,000	Goldman Sachs Group, Inc	3.750		02/25/26		1,235,883
	425,000	Goldman Sachs Group, Inc	3.500		11/16/26		460,637
	700,000	Goldman Sachs Group, Inc	1.093		12/09/26		685,924
	125,000	Goldman Sachs Group, Inc	5.950		01/15/27		151,210
	3,950,000	Goldman Sachs Group, Inc	3.850		01/26/27		4,332,994
	2,600,000	Goldman Sachs Group, Inc	1.431		03/09/27		2,576,720
	4,475,000	Goldman Sachs Group, Inc	3.691		06/05/28		4,896,379
	8,525,000	Goldman Sachs Group, Inc	3.814		04/23/29		9,340,192
	550,000	Goldman Sachs Group, Inc	4.223		05/01/29		616,999
	2,500,000	Goldman Sachs Group, Inc	2.600		02/07/30		2,530,405
	2,500,000	Goldman Sachs Group, Inc	3.800		03/15/30		2,753,551
	5,000,000	Goldman Sachs Group, Inc	1.992		01/27/32		4,745,226
	900,000	Goldman Sachs Group, Inc	6.750		10/01/37		1,272,259
	2,425,000	Goldman Sachs Group, Inc	4.017		10/31/38		2,689,107
	4,525,000	Goldman Sachs Group, Inc	4.411		04/23/39		5,273,983
	2,475,000	Goldman Sachs Group, Inc	6.250		02/01/41		3,503,460
	1,225,000	Goldman Sachs Group, Inc	4.800		07/08/44		1,504,879
	1,650,000	Goldman Sachs Group, Inc	5.150		05/22/45		2,062,451
	200,000	Goldman Sachs Group, Inc	4.750		10/21/45		246,334
	1,000,000	Golub Capital BDC, Inc	2.500		08/24/26		978,300
	300,000	Intercontinental Exchange, Inc	2.350		09/15/22		307,388
	1,000,000	Intercontinental Exchange, Inc	0.700		06/15/23		1,000,993
	300,000	Intercontinental Exchange, Inc	3.450		09/21/23		320,356
	350,000	Intercontinental Exchange, Inc	4.000		10/15/23		379,082
	825,000	Intercontinental Exchange, Inc	3.750		12/01/25		904,606
	1,000,000	Intercontinental Exchange, Inc	3.100		09/15/27		1,083,594
	500,000	Intercontinental Exchange, Inc	3.750		09/21/28		549,865
	1,500,000	Intercontinental Exchange, Inc	2.100		06/15/30		1,440,549
	1,000,000	Intercontinental Exchange, Inc	1.850		09/15/32		915,429
	775,000	Intercontinental Exchange, Inc	2.650		09/15/40		716,429
	575,000	Intercontinental Exchange, Inc	4.250		09/21/48		638,593

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE

$	1,000,000	Intercontinental Exchange, Inc	3.000	%	06/15/50	$	931,842
	1,000,000	Intercontinental Exchange, Inc	3.000		09/15/60		886,631
	600,000	International Lease Finance Corp	5.875		08/15/22		641,605
	125,000	Invesco Finance plc	3.125		11/30/22		130,376
	200,000	Invesco Finance plc	4.000		01/30/24		218,530
	800,000	Invesco Finance plc	3.750		01/15/26		878,369
	200,000	Invesco Finance plc	5.375		11/30/43		247,415
	2,000,000	J Paul Getty Trust	0.391		01/01/24		1,987,016
	300,000	Janus Capital Group, Inc	4.875		08/01/25		338,763
	1,000,000	Jefferies Group LLC	4.850		01/15/27		1,150,405
	600,000	Jefferies Group LLC	6.450		06/08/27		747,886
	1,000,000	Jefferies Group LLC	4.150		01/23/30		1,097,955
	1,000,000	Jefferies Group LLC	2.750		10/15/32		979,593
	150,000	Lazard Group LLC	3.750		02/13/25		162,970
	200,000	Lazard Group LLC	3.625		03/01/27		215,553
	325,000	Lazard Group LLC	4.500		09/19/28		366,622
	425,000	Lazard Group LLC	4.375		03/11/29		473,548
	400,000	Legg Mason, Inc	5.625		01/15/44		528,376
	1,000,000	Main Street Capital Corp	3.000		07/14/26		993,988
	200,000	Moody’s Corp	2.625		01/15/23		207,316
	1,200,000	Moody’s Corp	3.250		01/15/28		1,288,694
	300,000	Moody’s Corp	4.250		02/01/29		340,505
	200,000	Moody’s Corp	5.250		07/15/44		258,048
	300,000	Moody’s Corp	4.875		12/17/48		369,710
	750,000	Moody’s Corp	3.250		05/20/50		727,984
	4,275,000	Morgan Stanley	2.750		05/19/22		4,390,660
	2,850,000	Morgan Stanley	4.875		11/01/22		3,038,559
	475,000	Morgan Stanley	3.750		02/25/23		503,597
	3,175,000	Morgan Stanley	4.100		05/22/23		3,395,122
	2,000,000	Morgan Stanley	0.560		11/10/23		2,000,643
	1,000,000	Morgan Stanley	0.529		01/25/24		998,177
	5,350,000	Morgan Stanley	3.737		04/24/24		5,687,665
	4,092,000	Morgan Stanley	3.700		10/23/24		4,479,753
	1,025,000	Morgan Stanley	2.720		07/22/25		1,081,292
	500,000	Morgan Stanley	4.000		07/23/25		554,878
	4,000,000	Morgan Stanley	0.864		10/21/25		3,978,422
	950,000	Morgan Stanley	5.000		11/24/25		1,091,818
	575,000	Morgan Stanley	3.875		01/27/26		639,364
	500,000	Morgan Stanley	3.125		07/27/26		538,140
	400,000	Morgan Stanley	4.350		09/08/26		451,942
	5,000,000	Morgan Stanley	0.985		12/10/26		4,880,465
	2,750,000	Morgan Stanley	3.625		01/20/27		3,017,440
	1,975,000	Morgan Stanley	3.950		04/23/27		2,185,486
	1,575,000	Morgan Stanley	3.591		07/22/28		1,717,043
	4,850,000	Morgan Stanley	3.772		01/24/29		5,304,640
	3,475,000	Morgan Stanley	4.431		01/23/30		3,978,911
	5,000,000	Morgan Stanley	2.699		01/22/31		5,087,642
	500,000	Morgan Stanley	3.622		04/01/31		542,872
	5,000,000	Morgan Stanley	1.794		02/13/32		4,666,794
	150,000	Morgan Stanley	7.250		04/01/32		210,825
	2,500,000	Morgan Stanley	1.928		04/28/32		2,361,763
	725,000	Morgan Stanley	3.971		07/22/38		805,176
	2,675,000	Morgan Stanley	4.457		04/22/39		3,129,339

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE

$	275,000		Morgan Stanley	6.375	%	07/24/42	$	401,072
	175,000		Morgan Stanley	4.300		01/27/45		205,026
	3,200,000		Morgan Stanley	4.375		01/22/47		3,795,765
	900,000		Morgan Stanley	5.597		03/24/51		1,253,428
	1,425,000		Morgan Stanley	2.802		01/25/52		1,311,664
	500,000		NASDAQ, Inc	0.445		12/21/22		500,316
	250,000		NASDAQ, Inc	4.250		06/01/24		274,466
	400,000		NASDAQ, Inc	3.850		06/30/26		441,546
	1,000,000		NASDAQ, Inc	1.650		01/15/31		914,922
	1,000,000		NASDAQ, Inc	2.500		12/21/40		878,755
	500,000		NASDAQ, Inc	3.250		04/28/50		470,024
	350,000		National Rural Utilities Cooperative Finance Corp	3.050		02/15/22		355,865
	500,000		National Rural Utilities Cooperative Finance Corp	2.400		04/25/22		509,652
	500,000		National Rural Utilities Cooperative Finance Corp	2.300		09/15/22		512,051
	200,000		National Rural Utilities Cooperative Finance Corp	2.700		02/15/23		208,151
	200,000		National Rural Utilities Cooperative Finance Corp	3.400		11/15/23		213,061
	300,000		National Rural Utilities Cooperative Finance Corp	2.950		02/07/24		317,660
	1,000,000		National Rural Utilities Cooperative Finance Corp	0.350		02/08/24		993,737
	400,000		National Rural Utilities Cooperative Finance Corp	2.850		01/27/25		423,067
	200,000		National Rural Utilities Cooperative Finance Corp	3.250		11/01/25		215,540
	1,000,000		National Rural Utilities Cooperative Finance Corp	1.000		06/15/26		973,924
	1,000,000		National Rural Utilities Cooperative Finance Corp	3.400		02/07/28		1,074,814
	200,000		National Rural Utilities Cooperative Finance Corp	3.900		11/01/28		223,293
	300,000		National Rural Utilities Cooperative Finance Corp	3.700		03/15/29		328,462
	1,000,000	e	National Rural Utilities Cooperative Finance Corp	2.400		03/15/30		991,194
	1,000,000		National Rural Utilities Cooperative Finance Corp	1.350		03/15/31		900,776
	1,000,000		National Rural Utilities Cooperative Finance Corp	1.650		06/15/31		925,906
	500,000		National Rural Utilities Cooperative Finance Corp	4.750		04/30/43		513,226
	200,000		National Rural Utilities Cooperative Finance Corp	5.250		04/20/46		215,812
	200,000		National Rural Utilities Cooperative Finance Corp	4.400		11/01/48		234,397
	550,000		National Rural Utilities Cooperative Finance Corp	4.300		03/15/49		632,588
	300,000		Navient Solutions LLC	0.000		10/03/22		293,522
	1,500,000		Nomura Holdings, Inc	2.648		01/16/25		1,551,503
	1,000,000		Nomura Holdings, Inc	1.851		07/16/25		997,887
	1,500,000		Nomura Holdings, Inc	3.103		01/16/30		1,523,248
	500,000		Nomura Holdings, Inc	2.679		07/16/30		490,959
	350,000		Northern Trust Corp	2.375		08/02/22		359,601
	625,000		Northern Trust Corp	3.950		10/30/25		697,193
	500,000		Northern Trust Corp	3.650		08/03/28		554,208
	500,000		Northern Trust Corp	3.150		05/03/29		535,847
	700,000		Northern Trust Corp	1.950		05/01/30		682,872
	100,000		Northern Trust Corp	3.375		05/08/32		107,275
	1,200,000		Oesterreichische Kontrollbank AG.	1.625		09/17/22		1,224,425
	750,000		Oesterreichische Kontrollbank AG.	2.875		03/13/23		788,078
	1,350,000		Oesterreichische Kontrollbank AG.	3.125		11/07/23		1,444,591
	1,500,000		Oesterreichische Kontrollbank AG.	1.500		02/12/25		1,544,405
	2,000,000		Oesterreichische Kontrollbank AG.	0.375		09/17/25		1,949,830
	2,500,000		Oesterreichische Kontrollbank AG.	0.500		02/02/26		2,435,887
	475,000		ORIX Corp	2.900		07/18/22		489,413
	500,000		ORIX Corp	4.050		01/16/24		544,145
	500,000		ORIX Corp	3.250		12/04/24		539,975
	200,000		ORIX Corp	3.700		07/18/27		222,027
	1,000,000		ORIX Corp	2.250		03/09/31		966,167
	500,000		Owl Rock Capital Corp	4.000		03/30/25		523,753

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE

$	500,000		Owl Rock Capital Corp	3.750	%	07/22/25	$	518,419
	1,000,000		Owl Rock Capital Corp	4.250		01/15/26		1,049,429
	750,000		Owl Rock Capital Corp	3.400		07/15/26		759,659
	750,000		PACCAR Financial Corp	2.650		05/10/22		769,507
	200,000		PACCAR Financial Corp	2.000		09/26/22		204,810
	500,000		PACCAR Financial Corp	2.650		04/06/23		523,632
	500,000		PACCAR Financial Corp	0.800		06/08/23		504,719
	200,000		PACCAR Financial Corp	3.400		08/09/23		212,878
	2,000,000		PACCAR Financial Corp	0.350		08/11/23		1,997,651
	3,000,000		PACCAR Financial Corp	0.350		02/02/24		2,986,545
	300,000		PACCAR Financial Corp	2.150		08/15/24		314,590
	750,000		PACCAR Financial Corp	1.800		02/06/25		767,096
	600,000		Raymond James Financial, Inc	3.625		09/15/26		665,591
	425,000		Raymond James Financial, Inc	4.950		07/15/46		520,922
	1,000,000	h	Raymond James Financial, Inc	3.750		04/01/51		1,034,727
	300,000		S&P Global, Inc	4.000		06/15/25		332,904
	500,000		S&P Global, Inc	2.500		12/01/29		512,157
	500,000		S&P Global, Inc	1.250		08/15/30		457,779
	500,000		S&P Global, Inc	3.250		12/01/49		511,799
	500,000		S&P Global, Inc	2.300		08/15/60		406,253
	3,125,000		Shire Acquisitions Investments Ireland DAC	2.875		09/23/23		3,283,626
	1,400,000		Shire Acquisitions Investments Ireland DAC	3.200		09/23/26		1,508,301
	1,500,000		Sixth Street Specialty Lending, Inc	2.500		08/01/26		1,487,577
	500,000		State Street Corp	2.653		05/15/23		512,827
	2,150,000		State Street Corp	3.100		05/15/23		2,267,567
	300,000		State Street Corp	3.776		12/03/24		324,793
	750,000		State Street Corp	3.300		12/16/24		817,822
	375,000		State Street Corp	3.550		08/18/25		412,752
	1,000,000		State Street Corp	2.354		11/01/25		1,051,820
	500,000		State Street Corp	2.901		03/30/26		531,959
	650,000		State Street Corp	2.650		05/19/26		691,629
	300,000		State Street Corp	4.141		12/03/29		342,250
	750,000		State Street Corp	2.400		01/24/30		763,032
	1,375,000		State Street Corp	2.200		03/03/31		1,340,002
	500,000		State Street Corp	3.031		11/01/34		515,786
	100,000		Stifel Financial Corp	4.250		07/18/24		110,670
	550,000		Synchrony Financial	2.850		07/25/22		564,796
	500,000		Synchrony Financial	4.375		03/19/24		545,098
	250,000		Synchrony Financial	4.250		08/15/24		271,952
	600,000		Synchrony Financial	4.500		07/23/25		665,330
	300,000		Synchrony Financial	3.700		08/04/26		322,813
	900,000		Synchrony Financial	3.950		12/01/27		969,710
	500,000		Synchrony Financial	5.150		03/19/29		576,635
	425,000		TD Ameritrade Holding Corp	2.950		04/01/22		434,353
	300,000		TD Ameritrade Holding Corp	3.750		04/01/24		325,780
	350,000		TD Ameritrade Holding Corp	3.625		04/01/25		381,547
	525,000		TD Ameritrade Holding Corp	3.300		04/01/27		570,218
	500,000		TD Ameritrade Holding Corp	2.750		10/01/29		518,036
	300,000		Toyota Motor Credit Corp	2.800		07/13/22		309,596
	2,250,000		Toyota Motor Credit Corp	0.450		07/22/22		2,254,381
	500,000		Toyota Motor Credit Corp	2.150		09/08/22		512,970
	1,000,000		Toyota Motor Credit Corp	0.350		10/14/22		1,000,337
	500,000		Toyota Motor Credit Corp	2.700		01/11/23		520,197

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE

$	1,000,000		Toyota Motor Credit Corp	0.500	%	08/14/23	$	1,000,448
	500,000		Toyota Motor Credit Corp	3.450		09/20/23		535,709
	400,000		Toyota Motor Credit Corp	3.350		01/08/24		431,278
	1,000,000		Toyota Motor Credit Corp	0.450		01/11/24		997,260
	1,000,000		Toyota Motor Credit Corp	2.000		10/07/24		1,041,895
	3,000,000		Toyota Motor Credit Corp	1.800		02/13/25		3,082,247
	1,500,000		Toyota Motor Credit Corp	3.400		04/14/25		1,633,395
	1,000,000		Toyota Motor Credit Corp	0.800		10/16/25		982,580
	1,000,000	e	Toyota Motor Credit Corp	0.800		01/09/26		982,082
	1,000,000		Toyota Motor Credit Corp	1.150		08/13/27		968,770
	300,000		Toyota Motor Credit Corp	3.050		01/11/28		320,991
	400,000		Toyota Motor Credit Corp	3.650		01/08/29		443,820
	650,000		Toyota Motor Credit Corp	2.150		02/13/30		645,565
	225,000		Toyota Motor Credit Corp	3.375		04/01/30		244,220
	1,000,000		Toyota Motor Credit Corp	1.650		01/10/31		943,413
	625,000		Unilever Capital Corp	2.200		05/05/22		637,112
	500,000		Unilever Capital Corp	3.125		03/22/23		527,249
	750,000		Unilever Capital Corp	0.375		09/14/23		752,282
	300,000		Unilever Capital Corp	3.250		03/07/24		322,516
	1,100,000		Unilever Capital Corp	2.600		05/05/24		1,164,163
	500,000		Unilever Capital Corp	3.375		03/22/25		543,836
	450,000		Unilever Capital Corp	3.100		07/30/25		486,453
	225,000		Unilever Capital Corp	2.000		07/28/26		232,665
	800,000		Unilever Capital Corp	2.900		05/05/27		859,090
	1,150,000		Unilever Capital Corp	3.500		03/22/28		1,265,803
	1,000,000		Unilever Capital Corp	2.125		09/06/29		998,587
	175,000		Unilever Capital Corp	1.375		09/14/30		164,244
	430,000		Unilever Capital Corp	5.900		11/15/32		580,391
	200,000		Voya Financial, Inc	3.125		07/15/24		213,732
	550,000		Voya Financial, Inc	3.650		06/15/26		608,761
	200,000		Voya Financial, Inc	5.700		07/15/43		258,657
	200,000		Voya Financial, Inc	4.800		06/15/46		236,145
			TOTAL DIVERSIFIED FINANCIALS					512,810,742

ENERGY - 2.0%
	925,000		Baker Hughes a GE Co LLC	2.773		12/15/22		959,314
	875,000		Baker Hughes a GE Co LLC	3.337		12/15/27		936,903
	1,000,000		Baker Hughes a GE Co LLC	3.138		11/07/29		1,046,320
	500,000		Baker Hughes a GE Co LLC	4.486		05/01/30		569,594
	800,000		Baker Hughes a GE Co LLC	5.125		09/15/40		974,857
	875,000		Baker Hughes a GE Co LLC	4.080		12/15/47		932,739
	200,000		Boardwalk Pipelines LP	3.375		02/01/23		206,847
	475,000		Boardwalk Pipelines LP	5.950		06/01/26		551,018
	450,000		Boardwalk Pipelines LP	4.450		07/15/27		497,903
	500,000		Boardwalk Pipelines LP	4.800		05/03/29		552,722
	1,000,000		Boardwalk Pipelines LP	3.400		02/15/31		999,205
	1,525,000		BP Capital Markets America, Inc	3.245		05/06/22		1,573,515
	175,000		BP Capital Markets America, Inc	2.520		09/19/22		179,955
	1,000,000		BP Capital Markets America, Inc	2.937		04/06/23		1,050,349
	550,000		BP Capital Markets America, Inc	2.750		05/10/23		576,327
	800,000		BP Capital Markets America, Inc	3.790		02/06/24		867,842
	2,025,000		BP Capital Markets America, Inc	3.224		04/14/24		2,173,777
	1,000,000		BP Capital Markets America, Inc	3.194		04/06/25		1,076,053
	700,000		BP Capital Markets America, Inc	3.796		09/21/25		771,268

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE

$	1,800,000		BP Capital Markets America, Inc	3.410	%	02/11/26	$	1,957,016
	150,000		BP Capital Markets America, Inc	3.119		05/04/26		161,394
	200,000		BP Capital Markets America, Inc	3.017		01/16/27		213,761
	500,000		BP Capital Markets America, Inc	3.588		04/14/27		548,078
	750,000		BP Capital Markets America, Inc	3.937		09/21/28		834,232
	1,300,000		BP Capital Markets America, Inc	4.234		11/06/28		1,474,847
	1,000,000		BP Capital Markets America, Inc	1.749		08/10/30		944,575
	2,000,000		BP Capital Markets America, Inc	3.000		02/24/50		1,833,172
	950,000		BP Capital Markets America, Inc	2.772		11/10/50		828,425
	2,500,000		BP Capital Markets America, Inc	2.939		06/04/51		2,229,712
	1,000,000		BP Capital Markets America, Inc	3.379		02/08/61		926,836
	1,225,000		BP Capital Markets plc	2.500		11/06/22		1,265,909
	700,000		BP Capital Markets plc	3.994		09/26/23		761,185
	925,000		BP Capital Markets plc	3.814		02/10/24		1,008,244
	675,000		BP Capital Markets plc	3.535		11/04/24		737,088
	675,000		BP Capital Markets plc	3.506		03/17/25		735,741
	925,000		BP Capital Markets plc	3.279		09/19/27		999,032
	300,000		BP Capital Markets plc	3.723		11/28/28		330,359
	575,000		Burlington Resources Finance Co	7.200		08/15/31		806,414
	200,000		Burlington Resources Finance Co	7.400		12/01/31		282,947
	600,000		Canadian Natural Resources Ltd	2.950		01/15/23		622,694
	600,000		Canadian Natural Resources Ltd	3.800		04/15/24		642,144
	700,000		Canadian Natural Resources Ltd	3.900		02/01/25		755,337
	750,000		Canadian Natural Resources Ltd	2.050		07/15/25		758,393
	1,125,000		Canadian Natural Resources Ltd	3.850		06/01/27		1,217,318
	750,000		Canadian Natural Resources Ltd	2.950		07/15/30		748,060
	1,625,000		Canadian Natural Resources Ltd	6.250		03/15/38		2,061,378
	800,000		Canadian Natural Resources Ltd	4.950		06/01/47		927,231
	400,000		Chevron Corp	2.411		03/03/22		406,513
	1,050,000		Chevron Corp	2.355		12/05/22		1,080,629
	750,000		Chevron Corp	1.141		05/11/23		763,019
	500,000		Chevron Corp	2.566		05/16/23		521,973
	400,000		Chevron Corp	3.191		06/24/23		421,622
	425,000		Chevron Corp	2.895		03/03/24		453,030
	750,000		Chevron Corp	1.554		05/11/25		765,303
	400,000		Chevron Corp	3.326		11/17/25		436,514
	2,475,000		Chevron Corp	2.954		05/16/26		2,654,117
	225,000		Chevron Corp	1.995		05/11/27		230,038
	600,000		Chevron Corp	2.236		05/11/30		596,986
	375,000		Chevron Corp	2.978		05/11/40		371,318
	1,000,000		Chevron Corp	3.078		05/11/50		955,946
	500,000		Cimarex Energy Co	4.375		06/01/24		543,785
	525,000		Cimarex Energy Co	3.900		05/15/27		571,533
	300,000		Cimarex Energy Co	4.375		03/15/29		332,030
	775,000		Columbia Pipeline Group, Inc	4.500		06/01/25		867,764
	300,000		Columbia Pipeline Group, Inc	5.800		06/01/45		370,404
	825,000	g	ConocoPhillips	3.750		10/01/27		911,590
	950,000	g	ConocoPhillips	4.300		08/15/28		1,076,890
	125,000	g	ConocoPhillips	2.400		02/15/31		123,338
	400,000	g	ConocoPhillips	4.875		10/01/47		485,964
	700,000	g	ConocoPhillips	4.850		08/15/48		849,348
	2,800,000		ConocoPhillips Co	4.950		03/15/26		3,249,101
	77,000		ConocoPhillips Co	4.150		11/15/34		85,562

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE

$	250,000	ConocoPhillips Co	5.900	%	05/15/38	$	336,232
	1,585,000	ConocoPhillips Co	6.500		02/01/39		2,262,249
	300,000	ConocoPhillips Co	4.300		11/15/44		341,705
	1,650,000	ConocoPhillips Co	5.950		03/15/46		2,254,864
	925,000	ConocoPhillips Holding Co	6.950		04/15/29		1,230,663
	885,000	Devon Energy Corp	5.600		07/15/41		1,021,006
	700,000	Devon Energy Corp	4.750		05/15/42		742,637
	1,100,000	Devon Energy Corp	5.000		06/15/45		1,202,036
	600,000	Diamondback Energy, Inc	2.875		12/01/24		632,724
	750,000	Diamondback Energy, Inc	4.750		05/31/25		838,110
	425,000	Diamondback Energy, Inc	3.250		12/01/26		447,920
	1,000,000	Diamondback Energy, Inc	3.500		12/01/29		1,037,849
	650,000	Diamondback Energy, Inc	3.125		03/24/31		648,925
	1,000,000	Diamondback Energy, Inc	4.400		03/24/51		1,024,468
	725,000	Ecopetrol S.A.	5.875		09/18/23		800,762
	1,000,000	Ecopetrol S.A.	4.125		01/16/25		1,067,400
	975,000	Ecopetrol S.A.	5.375		06/26/26		1,093,346
	1,550,000	Ecopetrol S.A.	6.875		04/29/30		1,886,970
	200,000	Ecopetrol S.A.	7.375		09/18/43		244,618
	1,725,000	Ecopetrol S.A.	5.875		05/28/45		1,840,575
	300,000	El Paso Corp	7.750		01/15/32		421,525
	300,000	Enable Midstream Partners LP	3.900		05/15/24		319,591
	200,000	Enable Midstream Partners LP	4.400		03/15/27		216,179
	1,250,000	Enable Midstream Partners LP	4.950		05/15/28		1,377,955
	500,000	Enable Midstream Partners LP	4.150		09/15/29		519,938
	100,000	Enable Midstream Partners LP	5.000		05/15/44		98,312
	1,200,000	Enbridge Energy Partners LP	5.875		10/15/25		1,413,598
	300,000	Enbridge Energy Partners LP	5.500		09/15/40		354,002
	200,000	Enbridge Energy Partners LP	7.375		10/15/45		282,957
	800,000	Enbridge, Inc	2.900		07/15/22		822,671
	300,000	Enbridge, Inc	4.000		10/01/23		321,631
	250,000	Enbridge, Inc	2.500		01/15/25		260,560
	100,000	Enbridge, Inc	4.250		12/01/26		111,491
	100,000	Enbridge, Inc	3.700		07/15/27		108,753
	500,000	Enbridge, Inc	3.125		11/15/29		519,914
	300,000	Enbridge, Inc	4.500		06/10/44		324,593
	925,000	Enbridge, Inc	5.500		12/01/46		1,136,816
	1,000,000	Enbridge, Inc	4.000		11/15/49		1,003,316
	500,000	Enbridge, Inc	6.250		03/01/78		523,451
	450,000	Energy Transfer Operating LP	5.200		02/01/22		461,675
	525,000	Energy Transfer Operating LP	3.600		02/01/23		546,739
	200,000	Energy Transfer Operating LP	4.200		09/15/23		214,176
	500,000	Energy Transfer Operating LP	4.900		02/01/24		545,632
	2,775,000	Energy Transfer Operating LP	4.500		04/15/24		3,026,302
	825,000	Energy Transfer Operating LP	4.050		03/15/25		891,407
	400,000	Energy Transfer Operating LP	2.900		05/15/25		416,247
	325,000	Energy Transfer Operating LP	4.750		01/15/26		360,863
	250,000	Energy Transfer Operating LP	4.200		04/15/27		272,443
	350,000	Energy Transfer Operating LP	4.950		06/15/28		391,671
	2,600,000	Energy Transfer Operating LP	5.250		04/15/29		2,959,546
	625,000	Energy Transfer Operating LP	3.750		05/15/30		644,355
	400,000	Energy Transfer Operating LP	4.900		03/15/35		421,757
	500,000	Energy Transfer Operating LP	5.800		06/15/38		567,033
	140,000	Energy Transfer Operating LP	7.500		07/01/38		184,772

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE

$	650,000	Energy Transfer Operating LP	6.500	%	02/01/42	$	775,148
	200,000	Energy Transfer Operating LP	5.150		02/01/43		204,301
	200,000	Energy Transfer Operating LP	5.950		10/01/43		222,343
	550,000	Energy Transfer Operating LP	5.150		03/15/45		567,390
	625,000	Energy Transfer Operating LP	6.125		12/15/45		718,963
	500,000	Energy Transfer Operating LP	5.300		04/15/47		527,693
	1,025,000	Energy Transfer Operating LP	6.000		06/15/48		1,179,085
	2,750,000	Energy Transfer Operating LP	6.250		04/15/49		3,227,970
	2,175,000	Energy Transfer Operating LP	5.000		05/15/50		2,249,481
	400,000	Enterprise Products Operating LLC	4.050		02/15/22		412,684
	250,000	Enterprise Products Operating LLC	3.350		03/15/23		262,072
	950,000	Enterprise Products Operating LLC	3.900		02/15/24		1,029,402
	225,000	Enterprise Products Operating LLC	3.750		02/15/25		246,562
	450,000	Enterprise Products Operating LLC	3.700		02/15/26		493,770
	3,065,000	Enterprise Products Operating LLC	3.950		02/15/27		3,406,050
	725,000	Enterprise Products Operating LLC	4.150		10/16/28		816,866
	450,000	Enterprise Products Operating LLC	3.125		07/31/29		474,553
	250,000	Enterprise Products Operating LLC	2.800		01/31/30		258,118
	480,000	Enterprise Products Operating LLC	6.125		10/15/39		628,058
	175,000	Enterprise Products Operating LLC	5.950		02/01/41		224,083
	525,000	Enterprise Products Operating LLC	4.850		08/15/42		602,171
	325,000	Enterprise Products Operating LLC	4.450		02/15/43		353,685
	1,775,000	Enterprise Products Operating LLC	4.850		03/15/44		2,043,637
	775,000	Enterprise Products Operating LLC	5.100		02/15/45		918,141
	500,000	Enterprise Products Operating LLC	4.900		05/15/46		579,741
	675,000	Enterprise Products Operating LLC	4.250		02/15/48		716,970
	2,475,000	Enterprise Products Operating LLC	4.800		02/01/49		2,837,521
	950,000	Enterprise Products Operating LLC	4.200		01/31/50		1,011,431
	775,000	Enterprise Products Operating LLC	3.700		01/31/51		762,988
	1,000,000	Enterprise Products Operating LLC	3.200		02/15/52		912,192
	200,000	Enterprise Products Operating LLC	4.950		10/15/54		230,135
	1,625,000	Enterprise Products Operating LLC	3.950		01/31/60		1,628,010
	200,000	Enterprise Products Operating LLC	4.875		08/16/77		188,083
	700,000	Enterprise Products Operating LLC	5.250		08/16/77		698,050
	400,000	Enterprise Products Operating LLC	5.375		02/15/78		400,937
	1,025,000	EOG Resources, Inc	2.625		03/15/23		1,064,037
	475,000	EOG Resources, Inc	4.150		01/15/26		533,480
	500,000	EOG Resources, Inc	4.375		04/15/30		574,008
	200,000	EOG Resources, Inc	3.900		04/01/35		216,029
	200,000	EOG Resources, Inc	5.100		01/15/36		236,823
	500,000	EOG Resources, Inc	4.950		04/15/50		609,932
	925,000	Equinor ASA	2.450		01/17/23		959,519
	475,000	Equinor ASA	2.650		01/15/24		500,230
	450,000	Equinor ASA	3.700		03/01/24		489,098
	500,000	Equinor ASA	3.250		11/10/24		541,262
	500,000	Equinor ASA	2.875		04/06/25		533,886
	400,000	Equinor ASA	1.750		01/22/26		409,373
	500,000	Equinor ASA	3.000		04/06/27		535,455
	1,500,000	Equinor ASA	3.625		09/10/28		1,645,827
	300,000	Equinor ASA	3.125		04/06/30		317,219
	1,175,000	Equinor ASA	2.375		05/22/30		1,172,129
	300,000	Equinor ASA	3.625		04/06/40		319,219
	200,000	Equinor ASA	5.100		08/17/40		251,955

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE

$	400,000		Equinor ASA	4.250	%	11/23/41	$	450,710
	300,000		Equinor ASA	3.950		05/15/43		324,671
	1,300,000		Equinor ASA	4.800		11/08/43		1,550,726
	750,000		Equinor ASA	3.250		11/18/49		734,367
	1,300,000		Equinor ASA	3.700		04/06/50		1,380,576
	675,000		Exxon Mobil Corp	2.397		03/06/22		686,144
	350,000		Exxon Mobil Corp	1.902		08/16/22		357,804
	1,350,000		Exxon Mobil Corp	2.726		03/01/23		1,405,463
	750,000		Exxon Mobil Corp	1.571		04/15/23		768,382
	175,000		Exxon Mobil Corp	3.176		03/15/24		187,323
	1,000,000		Exxon Mobil Corp	2.019		08/16/24		1,041,096
	850,000		Exxon Mobil Corp	2.709		03/06/25		899,646
	1,500,000		Exxon Mobil Corp	2.992		03/19/25		1,607,375
	4,177,000	e	Exxon Mobil Corp	3.043		03/01/26		4,507,173
	1,000,000		Exxon Mobil Corp	2.275		08/16/26		1,042,345
	750,000		Exxon Mobil Corp	3.294		03/19/27		822,104
	1,000,000		Exxon Mobil Corp	2.440		08/16/29		1,014,604
	750,000		Exxon Mobil Corp	3.482		03/19/30		814,328
	750,000		Exxon Mobil Corp	2.610		10/15/30		764,285
	1,000,000		Exxon Mobil Corp	2.995		08/16/39		973,395
	1,750,000		Exxon Mobil Corp	4.227		03/19/40		1,968,751
	500,000		Exxon Mobil Corp	3.567		03/06/45		511,655
	1,225,000		Exxon Mobil Corp	4.114		03/01/46		1,346,119
	1,400,000		Exxon Mobil Corp	3.095		08/16/49		1,327,467
	2,100,000		Exxon Mobil Corp	4.327		03/19/50		2,410,365
	2,800,000		Exxon Mobil Corp	3.452		04/15/51		2,827,585
	200,000		Gulf South Pipeline Co LP	4.000		06/15/22		204,567
	7,000		Halliburton Co	3.500		08/01/23		7,416
	187,000		Halliburton Co	3.800		11/15/25		205,653
	1,000,000		Halliburton Co	2.920		03/01/30		998,028
	500,000		Halliburton Co	4.850		11/15/35		561,904
	125,000		Halliburton Co	6.700		09/15/38		162,860
	125,000		Halliburton Co	7.450		09/15/39		174,814
	750,000		Halliburton Co	4.750		08/01/43		797,455
	2,825,000		Halliburton Co	5.000		11/15/45		3,149,461
	200,000		Helmerich & Payne, Inc	4.650		03/15/25		218,745
	200,000		Hess Corp	3.500		07/15/24		211,004
	2,100,000		Hess Corp	4.300		04/01/27		2,288,665
	200,000		Hess Corp	6.000		01/15/40		239,108
	1,190,000		Hess Corp	5.600		02/15/41		1,372,781
	900,000		Hess Corp	5.800		04/01/47		1,073,186
	500,000		HollyFrontier Corp	2.625		10/01/23		515,197
	200,000		HollyFrontier Corp	5.875		04/01/26		226,699
	500,000		HollyFrontier Corp	4.500		10/01/30		517,166
	500,000		Husky Energy, Inc	4.000		04/15/24		533,609
	825,000		Husky Energy, Inc	4.400		04/15/29		880,705
	130,000		Husky Energy, Inc	6.800		09/15/37		157,414
	525,000		Kinder Morgan Energy Partners LP	3.950		09/01/22		546,069
	300,000		Kinder Morgan Energy Partners LP	4.150		02/01/24		325,850
	500,000		Kinder Morgan Energy Partners LP	4.250		09/01/24		550,766
	300,000		Kinder Morgan Energy Partners LP	6.950		01/15/38		402,491
	535,000		Kinder Morgan Energy Partners LP	6.500		09/01/39		692,648
	400,000		Kinder Morgan Energy Partners LP	4.700		11/01/42		430,464
	500,000		Kinder Morgan Energy Partners LP	5.000		03/01/43		563,500

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE

$	400,000		Kinder Morgan Energy Partners LP	5.500	%	03/01/44	$	467,990
	200,000		Kinder Morgan Energy Partners LP	5.400		09/01/44		234,390
	2,525,000		Kinder Morgan, Inc	4.300		06/01/25		2,819,709
	2,825,000		Kinder Morgan, Inc	4.300		03/01/28		3,158,565
	450,000		Kinder Morgan, Inc	2.000		02/15/31		418,805
	3,300,000		Kinder Morgan, Inc	5.300		12/01/34		3,897,282
	1,600,000		Kinder Morgan, Inc	5.550		06/01/45		1,913,300
	2,325,000		Kinder Morgan, Inc	5.200		03/01/48		2,655,113
	500,000		Kinder Morgan, Inc	3.250		08/01/50		437,181
	2,000,000		Kinder Morgan, Inc	3.600		02/15/51		1,863,508
	900,000		Magellan Midstream Partners LP	5.000		03/01/26		1,031,625
	475,000		Magellan Midstream Partners LP	3.250		06/01/30		497,279
	225,000		Magellan Midstream Partners LP	4.250		09/15/46		228,983
	425,000		Magellan Midstream Partners LP	4.200		10/03/47		423,781
	525,000		Magellan Midstream Partners LP	4.850		02/01/49		573,834
	1,500,000		Magellan Midstream Partners LP	3.950		03/01/50		1,477,718
	391,000		Marathon Oil Corp	2.800		11/01/22		401,053
	300,000		Marathon Oil Corp	3.850		06/01/25		321,447
	1,475,000		Marathon Oil Corp	4.400		07/15/27		1,623,708
	505,000		Marathon Oil Corp	6.600		10/01/37		628,870
	600,000		Marathon Oil Corp	5.200		06/01/45		654,488
	500,000		Marathon Petroleum Corp	4.500		05/01/23		536,268
	2,175,000		Marathon Petroleum Corp	3.625		09/15/24		2,350,807
	500,000		Marathon Petroleum Corp	4.700		05/01/25		561,956
	200,000		Marathon Petroleum Corp	3.800		04/01/28		216,139
	800,000		Marathon Petroleum Corp	6.500		03/01/41		1,063,557
	450,000		Marathon Petroleum Corp	4.750		09/15/44		499,115
	250,000	e	Marathon Petroleum Corp	5.850		12/15/45		296,345
	600,000		Marathon Petroleum Corp	4.500		04/01/48		635,137
	200,000		Marathon Petroleum Corp	5.000		09/15/54		211,679
	200,000		MPLX LP	3.500		12/01/22		208,694
	175,000		MPLX LP	3.375		03/15/23		183,330
	1,000,000		MPLX LP	4.875		12/01/24		1,122,407
	2,500,000		MPLX LP	4.875		06/01/25		2,815,866
	800,000		MPLX LP	1.750		03/01/26		801,222
	100,000		MPLX LP	4.125		03/01/27		111,012
	150,000		MPLX LP	4.250		12/01/27		168,626
	475,000		MPLX LP	4.000		03/15/28		524,576
	1,200,000		MPLX LP	4.800		02/15/29		1,376,023
	1,125,000		MPLX LP	2.650		08/15/30		1,102,450
	975,000		MPLX LP	4.500		04/15/38		1,065,135
	375,000		MPLX LP	5.200		03/01/47		428,942
	700,000		MPLX LP	5.200		12/01/47		792,590
	825,000		MPLX LP	4.700		04/15/48		892,567
	850,000		MPLX LP	5.500		02/15/49		998,599
	1,600,000		MPLX LP	4.900		04/15/58		1,704,328
	500,000		National Oilwell Varco, Inc	3.600		12/01/29		502,847
	800,000		National Oilwell Varco, Inc	3.950		12/01/42		726,241
	175,000		ONEOK, Inc	2.750		09/01/24		183,588
	100,000		ONEOK, Inc	5.850		01/15/26		117,067
	1,300,000		ONEOK, Inc	4.000		07/13/27		1,409,724
	725,000		ONEOK, Inc	4.550		07/15/28		797,784
	325,000		ONEOK, Inc	4.350		03/15/29		354,509

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE

$	500,000	ONEOK, Inc	3.400	%	09/01/29	$	514,462
	500,000	ONEOK, Inc	3.100		03/15/30		503,292
	175,000	ONEOK, Inc	6.350		01/15/31		219,731
	675,000	ONEOK, Inc	4.950		07/13/47		707,090
	1,350,000	ONEOK, Inc	5.200		07/15/48		1,476,892
	1,000,000	ONEOK, Inc	4.450		09/01/49		997,395
	500,000	ONEOK, Inc	4.500		03/15/50		500,462
	300,000	ONEOK, Inc	7.150		01/15/51		404,490
	60,000	Petroleos Mexicanos	1.700		12/20/22		60,620
	60,000	Petroleos Mexicanos	2.000		12/20/22		60,883
	925,000	Phillips 66	4.300		04/01/22		959,925
	500,000	Phillips 66	3.700		04/06/23		529,780
	675,000	Phillips 66	0.900		02/15/24		675,174
	1,000,000	Phillips 66	3.850		04/09/25		1,095,757
	925,000	Phillips 66	1.300		02/15/26		914,671
	1,000,000	Phillips 66	3.900		03/15/28		1,097,572
	738,000	Phillips 66	4.650		11/15/34		845,162
	125,000	Phillips 66	5.875		05/01/42		160,785
	2,375,000	Phillips 66	4.875		11/15/44		2,802,817
	500,000	Phillips 66 Partners LP	2.450		12/15/24		520,109
	100,000	Phillips 66 Partners LP	3.550		10/01/26		106,890
	675,000	Phillips 66 Partners LP	3.750		03/01/28		722,692
	500,000	Phillips 66 Partners LP	3.150		12/15/29		507,180
	425,000	Phillips 66 Partners LP	4.680		02/15/45		441,302
	350,000	Phillips 66 Partners LP	4.900		10/01/46		384,309
	1,000,000	Pioneer Natural Resources Co	0.750		01/15/24		996,472
	2,000,000	Pioneer Natural Resources Co	1.125		01/15/26		1,963,543
	200,000	Pioneer Natural Resources Co	4.450		01/15/26		225,120
	1,500,000	Pioneer Natural Resources Co	1.900		08/15/30		1,392,095
	750,000	Pioneer Natural Resources Co	2.150		01/15/31		709,062
	200,000	Plains All American Pipeline LP	2.850		01/31/23		204,889
	400,000	Plains All American Pipeline LP	3.850		10/15/23		423,157
	575,000	Plains All American Pipeline LP	3.600		11/01/24		611,812
	1,025,000	Plains All American Pipeline LP	4.650		10/15/25		1,123,112
	2,075,000	Plains All American Pipeline LP	4.500		12/15/26		2,276,790
	1,450,000	Plains All American Pipeline LP	3.550		12/15/29		1,445,735
	1,000,000	Plains All American Pipeline LP	3.800		09/15/30		1,018,426
	100,000	Plains All American Pipeline LP	6.650		01/15/37		116,972
	250,000	Plains All American Pipeline LP	5.150		06/01/42		253,568
	300,000	Plains All American Pipeline LP	4.700		06/15/44		285,437
	300,000	Plains All American Pipeline LP	4.900		02/15/45		293,421
	375,000	Regency Energy Partners LP	5.875		03/01/22		387,666
	175,000	Sabine Pass Liquefaction LLC	6.250		03/15/22		181,747
	675,000	Sabine Pass Liquefaction LLC	5.625		04/15/23		731,992
	690,000	Sabine Pass Liquefaction LLC	5.750		05/15/24		778,560
	1,775,000	Sabine Pass Liquefaction LLC	5.625		03/01/25		2,029,570
	275,000	Sabine Pass Liquefaction LLC	5.875		06/30/26		322,154
	2,675,000	Sabine Pass Liquefaction LLC	5.000		03/15/27		3,044,811
	550,000	Sabine Pass Liquefaction LLC	4.200		03/15/28		603,393
	1,500,000	Sabine Pass Liquefaction LLC	4.500		05/15/30		1,683,282
	1,000,000	Schlumberger Investment S.A.	3.650		12/01/23		1,073,463
	1,500,000	Schlumberger Investment S.A.	2.650		06/26/30		1,510,258
	575,000	Shell International Finance BV	2.375		08/21/22		591,275
	500,000	Shell International Finance BV	2.250		01/06/23		516,888

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE

$	350,000	Shell International Finance BV	3.400	%	08/12/23	$	375,206
	1,000,000	Shell International Finance BV	0.375		09/15/23		1,001,169
	500,000	Shell International Finance BV	2.375		04/06/25		527,028
	5,075,000	Shell International Finance BV	3.250		05/11/25		5,482,544
	2,075,000	Shell International Finance BV	2.875		05/10/26		2,213,448
	925,000	Shell International Finance BV	2.500		09/12/26		971,566
	1,225,000	Shell International Finance BV	3.875		11/13/28		1,367,392
	3,000,000	Shell International Finance BV	2.375		11/07/29		3,027,454
	1,500,000	Shell International Finance BV	2.750		04/06/30		1,549,120
	500,000	Shell International Finance BV	4.125		05/11/35		568,801
	350,000	Shell International Finance BV	6.375		12/15/38		501,541
	100,000	Shell International Finance BV	5.500		03/25/40		133,754
	1,200,000	Shell International Finance BV	4.550		08/12/43		1,427,174
	2,025,000	Shell International Finance BV	4.375		05/11/45		2,370,440
	650,000	Shell International Finance BV	4.000		05/10/46		724,941
	3,180,000	Shell International Finance BV	3.750		09/12/46		3,392,532
	1,500,000	Shell International Finance BV	3.125		11/07/49		1,446,876
	1,500,000	Shell International Finance BV	3.250		04/06/50		1,469,588
	200,000	Spectra Energy Partners LP	4.750		03/15/24		219,987
	400,000	Spectra Energy Partners LP	3.500		03/15/25		428,326
	1,100,000	Spectra Energy Partners LP	3.375		10/15/26		1,182,964
	200,000	Spectra Energy Partners LP	5.950		09/25/43		247,713
	600,000	Spectra Energy Partners LP	4.500		03/15/45		646,088
	500,000	Suncor Energy, Inc	2.800		05/15/23		522,292
	1,775,000	Suncor Energy, Inc	3.600		12/01/24		1,929,866
	500,000	Suncor Energy, Inc	3.100		05/15/25		533,967
	250,000	Suncor Energy, Inc	6.800		05/15/38		342,501
	1,625,000	Suncor Energy, Inc	6.500		06/15/38		2,171,311
	1,550,000	Suncor Energy, Inc	4.000		11/15/47		1,571,280
	1,000,000	Suncor Energy, Inc	3.750		03/04/51		973,059
	1,181,000	Sunoco Logistics Partners Operations LP	3.450		01/15/23		1,225,950
	300,000	Sunoco Logistics Partners Operations LP	4.250		04/01/24		325,011
	200,000	Sunoco Logistics Partners Operations LP	5.950		12/01/25		232,884
	400,000	Sunoco Logistics Partners Operations LP	3.900		07/15/26		430,603
	100,000	Sunoco Logistics Partners Operations LP	6.100		02/15/42		112,612
	300,000	Sunoco Logistics Partners Operations LP	5.300		04/01/44		316,045
	200,000	Sunoco Logistics Partners Operations LP	5.350		05/15/45		210,495
	1,225,000	Sunoco Logistics Partners Operations LP	5.400		10/01/47		1,322,745
	300,000	Total Capital Canada Ltd	2.750		07/15/23		315,963
	1,675,000	Total Capital International S.A.	2.700		01/25/23		1,746,482
	750,000	Total Capital International S.A.	3.700		01/15/24		815,549
	450,000	Total Capital International S.A.	3.750		04/10/24		493,343
	500,000	Total Capital International S.A.	2.434		01/10/25		524,347
	900,000	Total Capital International S.A.	3.455		02/19/29		977,926
	1,300,000	Total Capital International S.A.	2.829		01/10/30		1,352,064
	775,000	Total Capital International S.A.	2.986		06/29/41		743,161
	500,000	Total Capital International S.A.	3.461		07/12/49		501,391
	1,500,000	Total Capital International S.A.	3.127		05/29/50		1,412,134
	1,000,000	Total Capital International S.A.	3.386		06/29/60		953,373
	1,125,000	Total Capital S.A.	3.883		10/11/28		1,268,821
	325,000	TransCanada PipeLines Ltd	2.500		08/01/22		334,161
	1,225,000	TransCanada PipeLines Ltd	4.875		01/15/26		1,407,390
	2,500,000	TransCanada PipeLines Ltd	4.100		04/15/30		2,786,714

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE

$	1,925,000		TransCanada PipeLines Ltd	4.625	%	03/01/34	$	2,172,643
	100,000		TransCanada PipeLines Ltd	6.200		10/15/37		129,654
	500,000		TransCanada PipeLines Ltd	4.750		05/15/38		574,314
	200,000		TransCanada PipeLines Ltd	7.625		01/15/39		298,990
	125,000		TransCanada PipeLines Ltd	6.100		06/01/40		161,985
	1,200,000		TransCanada PipeLines Ltd	5.000		10/16/43		1,418,339
	750,000		TransCanada PipeLines Ltd	4.875		05/15/48		887,265
	1,425,000		TransCanada PipeLines Ltd	5.100		03/15/49		1,745,019
	700,000		Transcontinental Gas Pipe Line Co LLC	7.850		02/01/26		885,930
	1,200,000		Transcontinental Gas Pipe Line Co LLC	4.000		03/15/28		1,332,327
	500,000		Transcontinental Gas Pipe Line Co LLC	3.250		05/15/30		525,169
	850,000		Transcontinental Gas Pipe Line Co LLC	4.600		03/15/48		965,115
	500,000		Transcontinental Gas Pipe Line Co LLC	3.950		05/15/50		511,113
	5,525,000		Vale Overseas Ltd	6.250		08/10/26		6,571,988
	1,000,000		Vale Overseas Ltd	3.750		07/08/30		1,043,890
	150,000	e	Vale Overseas Ltd	8.250		01/17/34		210,975
	1,164,000		Vale Overseas Ltd	6.875		11/21/36		1,547,032
	500,000		Valero Energy Corp	2.700		04/15/23		519,051
	750,000		Valero Energy Corp	1.200		03/15/24		752,260
	825,000		Valero Energy Corp	3.650		03/15/25		885,514
	1,250,000		Valero Energy Corp	2.850		04/15/25		1,306,806
	675,000		Valero Energy Corp	3.400		09/15/26		721,779
	750,000		Valero Energy Corp	2.150		09/15/27		734,873
	500,000		Valero Energy Corp	4.350		06/01/28		551,506
	2,075,000		Valero Energy Corp	4.000		04/01/29		2,235,956
	455,000		Valero Energy Corp	7.500		04/15/32		613,171
	850,000		Valero Energy Corp	6.625		06/15/37		1,105,911
	300,000		Valero Energy Corp	4.900		03/15/45		337,138
	200,000		Valero Energy Partners LP	4.375		12/15/26		224,224
	300,000		Valero Energy Partners LP	4.500		03/15/28		332,844
	2,000,000		Williams Cos, Inc	2.600		03/15/31		1,954,854
	600,000		Williams Partners LP	4.000		11/15/21		607,601
	1,000,000		Williams Partners LP	3.600		03/15/22		1,024,124
	2,375,000		Williams Partners LP	3.350		08/15/22		2,443,280
	300,000		Williams Partners LP	4.500		11/15/23		326,696
	150,000		Williams Partners LP	3.900		01/15/25		162,435
	925,000		Williams Partners LP	4.000		09/15/25		1,014,256
	1,300,000		Williams Partners LP	3.750		06/15/27		1,417,099
	300,000		Williams Partners LP	6.300		04/15/40		385,732
	300,000		Williams Partners LP	5.800		11/15/43		368,458
	300,000		Williams Partners LP	5.400		03/04/44		348,179
	1,000,000		Williams Partners LP	4.900		01/15/45		1,107,661
	225,000		Williams Partners LP	5.100		09/15/45		258,027
	1,700,000		Williams Partners LP	4.850		03/01/48		1,887,371
			TOTAL ENERGY					395,909,243

FOOD & STAPLES RETAILING - 0.3%
	1,300,000		Costco Wholesale Corp	2.300		05/18/22		1,327,255
	400,000		Costco Wholesale Corp	2.750		05/18/24		427,504
	625,000		Costco Wholesale Corp	3.000		05/18/27		679,886
	475,000		Costco Wholesale Corp	1.375		06/20/27		473,349
	725,000		Costco Wholesale Corp	1.600		04/20/30		694,343
	1,800,000		Costco Wholesale Corp	1.750		04/20/32		1,710,957
	69,000		Delhaize Group S.A.	5.700		10/01/40		90,577

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE

$	200,000		Kroger Co	2.950	%	11/01/21	$	202,640
	200,000		Kroger Co	3.400		04/15/22		204,743
	2,525,000		Kroger Co	2.800		08/01/22		2,596,963
	200,000		Kroger Co	3.850		08/01/23		213,870
	300,000		Kroger Co	4.000		02/01/24		325,999
	100,000		Kroger Co	3.500		02/01/26		109,091
	1,275,000		Kroger Co	2.650		10/15/26		1,344,850
	175,000		Kroger Co	3.700		08/01/27		194,752
	1,150,000		Kroger Co	4.500		01/15/29		1,332,985
	250,000		Kroger Co	2.200		05/01/30		244,814
	1,500,000		Kroger Co	1.700		01/15/31		1,400,838
	100,000		Kroger Co	6.900		04/15/38		138,720
	250,000		Kroger Co	5.000		04/15/42		301,799
	300,000		Kroger Co	5.150		08/01/43		366,753
	300,000		Kroger Co	3.875		10/15/46		313,362
	900,000		Kroger Co	4.450		02/01/47		1,014,679
	700,000		Kroger Co	4.650		01/15/48		812,761
	300,000		Kroger Co	5.400		01/15/49		383,689
	500,000		Kroger Co	3.950		01/15/50		540,278
	125,000		SYSCO Corp	2.500		07/15/21		125,508
	250,000		SYSCO Corp	3.550		03/15/25		270,329
	2,500,000		SYSCO Corp	5.650		04/01/25		2,907,007
	125,000		SYSCO Corp	3.750		10/01/25		136,133
	350,000		SYSCO Corp	3.300		07/15/26		376,867
	1,000,000		SYSCO Corp	2.400		02/15/30		992,935
	500,000		SYSCO Corp	5.950		04/01/30		624,789
	500,000		SYSCO Corp	6.600		04/01/40		697,516
	300,000		SYSCO Corp	4.850		10/01/45		355,389
	500,000		SYSCO Corp	4.500		04/01/46		561,868
	250,000		SYSCO Corp	4.450		03/15/48		282,345
	550,000		SYSCO Corp	3.300		02/15/50		513,726
	1,000,000		SYSCO Corp	6.600		04/01/50		1,444,371
	275,000		Walgreen Co	3.100		09/15/22		285,041
	200,000		Walgreen Co	4.400		09/15/42		209,616
	800,000		Walgreens Boots Alliance, Inc	3.300		11/18/21		809,081
	375,000		Walgreens Boots Alliance, Inc	3.800		11/18/24		408,702
	1,775,000		Walgreens Boots Alliance, Inc	3.450		06/01/26		1,910,134
	750,000	e	Walgreens Boots Alliance, Inc	3.200		04/15/30		778,841
	1,400,000		Walgreens Boots Alliance, Inc	4.500		11/18/34		1,557,626
	400,000		Walgreens Boots Alliance, Inc	4.800		11/18/44		442,901
	525,000		Walgreens Boots Alliance, Inc	4.650		06/01/46		561,116
	750,000		Walgreens Boots Alliance, Inc	4.100		04/15/50		760,213
	675,000		Walmart, Inc	2.350		12/15/22		698,519
	1,475,000		Walmart, Inc	2.550		04/11/23		1,535,834
	1,100,000		Walmart, Inc	3.400		06/26/23		1,173,280
	1,250,000		Walmart, Inc	3.300		04/22/24		1,345,556
	1,725,000		Walmart, Inc	2.650		12/15/24		1,846,319
	1,000,000		Walmart, Inc	3.050		07/08/26		1,086,574
	6,100,000		Walmart, Inc	3.700		06/26/28		6,860,599
	175,000		Walmart, Inc	2.375		09/24/29		179,067
	375,000		Walmart, Inc	5.250		09/01/35		491,831
	725,000		Walmart, Inc	3.950		06/28/38		838,077
	4,725,000		Walmart, Inc	3.625		12/15/47		5,195,266

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE

$	1,850,000		Walmart, Inc	4.050	%	06/29/48	$	2,190,638
	1,900,000		Walmart, Inc	2.950		09/24/49		1,870,760
			TOTAL FOOD & STAPLES RETAILING					59,771,831

FOOD, BEVERAGE & TOBACCO - 1.1%
	1,800,000		Altria Group, Inc	4.750		05/05/21		1,806,556
	300,000		Altria Group, Inc	2.350		05/06/25		310,991
	727,000		Altria Group, Inc	4.400		02/14/26		819,800
	700,000		Altria Group, Inc	2.625		09/16/26		728,998
	800,000		Altria Group, Inc	3.400		05/06/30		836,990
	1,175,000		Altria Group, Inc	2.450		02/04/32		1,122,571
	800,000		Altria Group, Inc	5.800		02/14/39		976,223
	1,500,000		Altria Group, Inc	3.400		02/04/41		1,391,749
	925,000		Altria Group, Inc	4.250		08/09/42		942,794
	300,000		Altria Group, Inc	4.500		05/02/43		312,952
	775,000		Altria Group, Inc	5.375		01/31/44		903,302
	900,000		Altria Group, Inc	3.875		09/16/46		873,232
	1,875,000		Altria Group, Inc	5.950		02/14/49		2,334,548
	1,000,000		Altria Group, Inc	4.450		05/06/50		1,034,415
	1,000,000		Altria Group, Inc	3.700		02/04/51		911,053
	1,700,000		Altria Group, Inc	6.200		02/14/59		2,070,822
	1,000,000		Altria Group, Inc	4.000		02/04/61		924,481
	1,125,000		Anheuser-Busch InBev Finance, Inc	4.625		02/01/44		1,283,120
	625,000	e	Anheuser-Busch InBev Worldwide, Inc	4.900		01/23/31		747,423
	1,700,000		Anheuser-Busch InBev Worldwide, Inc	4.375		04/15/38		1,932,284
	100,000		Anheuser-Busch InBev Worldwide, Inc	8.200		01/15/39		159,922
	2,675,000		Anheuser-Busch InBev Worldwide, Inc	5.450		01/23/39		3,341,940
	500,000		Anheuser-Busch InBev Worldwide, Inc	4.350		06/01/40		565,297
	150,000		Anheuser-Busch InBev Worldwide, Inc	4.950		01/15/42		179,189
	425,000		Anheuser-Busch InBev Worldwide, Inc	4.600		04/15/48		486,532
	1,764,000		Anheuser-Busch InBev Worldwide, Inc	4.439		10/06/48		1,981,258
	2,025,000		Anheuser-Busch InBev Worldwide, Inc	5.550		01/23/49		2,613,080
	2,441,000		Anheuser-Busch InBev Worldwide, Inc	4.500		06/01/50		2,769,600
	1,725,000		Anheuser-Busch InBev Worldwide, Inc	4.750		04/15/58		1,988,297
	2,150,000		Anheuser-Busch InBev Worldwide, Inc	5.800		01/23/59		2,915,849
	500,000		Anheuser-Busch InBev Worldwide, Inc	4.600		06/01/60		563,522
	3,075,000		Archer-Daniels-Midland Co	2.500		08/11/26		3,240,980
	1,500,000		Archer-Daniels-Midland Co	3.250		03/27/30		1,611,677
	800,000	e	Archer-Daniels-Midland Co	4.500		03/15/49		1,014,186
	4,950,000		BAT Capital Corp	3.222		08/15/24		5,273,550
	500,000		BAT Capital Corp	2.789		09/06/24		526,924
	3,525,000		BAT Capital Corp	3.557		08/15/27		3,752,433
	400,000		BAT Capital Corp	2.259		03/25/28		393,821
	275,000		BAT Capital Corp	4.906		04/02/30		313,992
	650,000		BAT Capital Corp	2.726		03/25/31		628,632
	1,400,000		BAT Capital Corp	4.390		08/15/37		1,467,792
	475,000		BAT Capital Corp	3.734		09/25/40		452,236
	2,625,000		BAT Capital Corp	4.540		08/15/47		2,643,081
	900,000		BAT Capital Corp	4.758		09/06/49		924,558
	500,000		BAT Capital Corp	5.282		04/02/50		549,433
	1,000,000		BAT Capital Corp	3.984		09/25/50		937,168
	1,500,000		BAT International Finance plc	1.668		03/25/26		1,484,667
	200,000		Beam, Inc	3.250		05/15/22		204,656
	200,000		Brown-Forman Corp	3.500		04/15/25		216,505

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE

$	200,000		Brown-Forman Corp	4.000	%	04/15/38	$	226,453
	200,000		Brown-Forman Corp	4.500		07/15/45		242,700
	300,000		Bunge Ltd	3.000		09/25/22		309,275
	500,000		Bunge Ltd	4.350		03/15/24		547,985
	500,000		Bunge Ltd	1.630		08/17/25		500,218
	125,000		Bunge Ltd	3.250		08/15/26		132,912
	500,000		Bunge Ltd	3.750		09/25/27		548,452
	650,000		Campbell Soup Co	2.500		08/02/22		668,043
	215,000		Campbell Soup Co	3.650		03/15/23		227,666
	500,000		Campbell Soup Co	3.950		03/15/25		549,392
	725,000		Campbell Soup Co	4.150		03/15/28		812,407
	500,000		Campbell Soup Co	2.375		04/24/30		489,030
	800,000		Campbell Soup Co	4.800		03/15/48		944,743
	500,000		Campbell Soup Co	3.125		04/24/50		465,502
	300,000		Coca-Cola Bottling Co Consolidated	3.800		11/25/25		329,317
	800,000		Coca-Cola Co	1.750		09/06/24		832,585
	950,000		Coca-Cola Co	2.875		10/27/25		1,026,002
	300,000		Coca-Cola Co	2.550		06/01/26		318,099
	400,000		Coca-Cola Co	2.250		09/01/26		420,653
	1,000,000		Coca-Cola Co	1.450		06/01/27		994,670
	1,000,000	e	Coca-Cola Co	1.500		03/05/28		983,238
	2,000,000		Coca-Cola Co	1.000		03/15/28		1,899,158
	600,000		Coca-Cola Co	2.125		09/06/29		601,617
	300,000		Coca-Cola Co	3.450		03/25/30		330,478
	800,000		Coca-Cola Co	1.650		06/01/30		762,203
	1,500,000		Coca-Cola Co	2.000		03/05/31		1,466,118
	2,000,000		Coca-Cola Co	1.375		03/15/31		1,854,198
	725,000		Coca-Cola Co	2.500		06/01/40		681,335
	1,500,000		Coca-Cola Co	2.600		06/01/50		1,358,166
	1,000,000		Coca-Cola Co	3.000		03/05/51		982,717
	475,000		Coca-Cola Co	2.500		03/15/51		414,934
	2,000,000		Coca-Cola Co	2.750		06/01/60		1,788,944
	1,500,000		Coca-Cola Femsa SAB de C.V.	2.750		01/22/30		1,506,240
	200,000		Coca-Cola Femsa SAB de C.V.	5.250		11/26/43		249,866
	455,000		ConAgra Brands, Inc	3.200		01/25/23		472,403
	1,000,000		ConAgra Brands, Inc	4.300		05/01/24		1,102,705
	450,000		ConAgra Brands, Inc	4.600		11/01/25		510,834
	500,000		ConAgra Brands, Inc	1.375		11/01/27		481,647
	100,000		ConAgra Brands, Inc	7.000		10/01/28		129,331
	1,575,000		ConAgra Brands, Inc	4.850		11/01/28		1,833,019
	750,000		ConAgra Brands, Inc	5.300		11/01/38		925,252
	750,000		ConAgra Brands, Inc	5.400		11/01/48		959,530
	300,000		Constellation Brands, Inc	2.700		05/09/22		306,519
	300,000		Constellation Brands, Inc	2.650		11/07/22		309,395
	1,250,000		Constellation Brands, Inc	3.200		02/15/23		1,307,980
	2,275,000		Constellation Brands, Inc	4.250		05/01/23		2,440,483
	100,000		Constellation Brands, Inc	4.400		11/15/25		112,710
	750,000		Constellation Brands, Inc	3.700		12/06/26		823,726
	300,000		Constellation Brands, Inc	3.500		05/09/27		327,246
	700,000		Constellation Brands, Inc	3.600		02/15/28		761,260
	300,000		Constellation Brands, Inc	4.650		11/15/28		344,885
	1,000,000		Constellation Brands, Inc	3.150		08/01/29		1,047,426
	100,000		Constellation Brands, Inc	2.875		05/01/30		102,177

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE

$	300,000		Constellation Brands, Inc	4.100	%	02/15/48	$	324,302
	300,000		Constellation Brands, Inc	5.250		11/15/48		380,393
	1,250,000		Constellation Brands, Inc	3.750		05/01/50		1,306,402
	1,725,000		Diageo Capital plc	2.625		04/29/23		1,797,091
	750,000		Diageo Capital plc	2.125		10/24/24		782,712
	500,000		Diageo Capital plc	1.375		09/29/25		504,643
	425,000		Diageo Capital plc	3.875		05/18/28		476,634
	1,033,000		Diageo Capital plc	2.000		04/29/30		1,010,008
	1,900,000		Diageo Capital plc	2.125		04/29/32		1,834,680
	200,000		Diageo Capital plc	5.875		09/30/36		274,229
	400,000		Diageo Capital plc	3.875		04/29/43		449,419
	150,000		Flowers Foods, Inc	4.375		04/01/22		154,526
	100,000		Flowers Foods, Inc	3.500		10/01/26		108,342
	400,000		Flowers Foods, Inc	2.400		03/15/31		390,189
	200,000		Fomento Economico Mexicano SAB de C.V.	2.875		05/10/23		208,280
	300,000		Fomento Economico Mexicano SAB de C.V.	4.375		05/10/43		338,535
	2,500,000		Fomento Economico Mexicano SAB de C.V.	3.500		01/16/50		2,490,200
	200,000		General Mills, Inc	3.150		12/15/21		202,543
	500,000		General Mills, Inc	2.600		10/12/22		516,019
	200,000		General Mills, Inc	3.700		10/17/23		214,455
	500,000		General Mills, Inc	3.650		02/15/24		540,371
	150,000		General Mills, Inc	4.000		04/17/25		165,832
	800,000		General Mills, Inc	3.200		02/10/27		865,724
	3,800,000		General Mills, Inc	4.200		04/17/28		4,291,833
	100,000		General Mills, Inc	2.875		04/15/30		103,236
	951,000	g	General Mills, Inc	3.000		02/01/51		889,132
	300,000		Hershey Co	2.050		11/15/24		313,870
	500,000		Hershey Co	0.900		06/01/25		495,594
	300,000		Hershey Co	2.450		11/15/29		307,233
	500,000		Hershey Co	1.700		06/01/30		477,675
	300,000		Hershey Co	3.375		08/15/46		310,042
	300,000		Hershey Co	3.125		11/15/49		297,094
	100,000		Hershey Co	2.650		06/01/50		90,190
	1,500,000		Hormel Foods Corp	1.800		06/11/30		1,440,799
	300,000		Ingredion, Inc	3.200		10/01/26		323,391
	750,000		Ingredion, Inc	3.900		06/01/50		792,091
	275,000		JM Smucker Co	3.500		10/15/21		279,580
	300,000		JM Smucker Co	3.000		03/15/22		307,534
	1,475,000		JM Smucker Co	3.500		03/15/25		1,601,369
	200,000		JM Smucker Co	3.375		12/15/27		216,640
	150,000		JM Smucker Co	2.375		03/15/30		147,965
	300,000		JM Smucker Co	4.250		03/15/35		335,122
	300,000		JM Smucker Co	4.375		03/15/45		336,304
	400,000		JM Smucker Co	3.550		03/15/50		404,569
	417,000		Kellogg Co	2.650		12/01/23		438,062
	1,800,000		Kellogg Co	3.250		04/01/26		1,940,442
	200,000		Kellogg Co	3.400		11/15/27		216,438
	800,000		Kellogg Co	4.300		05/15/28		906,934
	275,000		Kellogg Co	2.100		06/01/30		267,196
	150,000		Kellogg Co	4.500		04/01/46		174,904
	804,000		Keurig Dr Pepper, Inc	4.057		05/25/23		862,605
	500,000		Keurig Dr Pepper, Inc	3.130		12/15/23		530,571
	275,000		Keurig Dr Pepper, Inc	4.417		05/25/25		308,549
	200,000		Keurig Dr Pepper, Inc	3.400		11/15/25		217,886

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE

$	200,000		Keurig Dr Pepper, Inc	2.550	%	09/15/26	$	210,337
	2,750,000		Keurig Dr Pepper, Inc	4.597		05/25/28		3,176,551
	750,000		Keurig Dr Pepper, Inc	3.200		05/01/30		793,595
	1,500,000	e	Keurig Dr Pepper, Inc	2.250		03/15/31		1,474,753
	500,000		Keurig Dr Pepper, Inc	4.420		12/15/46		574,142
	750,000		Keurig Dr Pepper, Inc	5.085		05/25/48		939,404
	800,000		Keurig Dr Pepper, Inc	3.800		05/01/50		850,284
	1,500,000		Keurig Dr Pepper, Inc	3.350		03/15/51		1,493,965
	400,000		McCormick & Co, Inc	2.700		08/15/22		411,596
	250,000		McCormick & Co, Inc	3.150		08/15/24		267,528
	625,000		McCormick & Co, Inc	0.900		02/15/26		609,231
	250,000		McCormick & Co, Inc	3.400		08/15/27		270,995
	500,000		McCormick & Co, Inc	2.500		04/15/30		500,057
	325,000		McCormick & Co, Inc	1.850		02/15/31		305,548
	400,000		McCormick & Co, Inc	4.200		08/15/47		444,157
	925,000		Mead Johnson Nutrition Co	4.125		11/15/25		1,037,294
	350,000		Mead Johnson Nutrition Co	4.600		06/01/44		427,551
	800,000		Molson Coors Brewing Co	2.100		07/15/21		802,506
	900,000		Molson Coors Brewing Co	3.500		05/01/22		928,633
	1,025,000		Molson Coors Brewing Co	3.000		07/15/26		1,091,401
	525,000		Molson Coors Brewing Co	5.000		05/01/42		605,478
	1,550,000		Molson Coors Brewing Co	4.200		07/15/46		1,614,439
	1,000,000		Mondelez International, Inc	0.625		07/01/22		1,002,895
	1,000,000		Mondelez International, Inc	1.500		05/04/25		1,010,895
	775,000		Mondelez International, Inc	2.750		04/13/30		791,226
	400,000	e	Mondelez International, Inc	1.500		02/04/31		365,824
	725,000		Mondelez International, Inc	1.875		10/15/32		675,555
	1,200,000		Mondelez International, Inc	2.625		09/04/50		1,033,032
	400,000		PepsiCo, Inc	2.750		03/05/22		409,357
	600,000		PepsiCo, Inc	3.100		07/17/22		619,214
	700,000		PepsiCo, Inc	2.750		03/01/23		731,223
	1,000,000		PepsiCo, Inc	0.400		10/07/23		1,003,379
	1,425,000		PepsiCo, Inc	3.600		03/01/24		1,546,870
	750,000		PepsiCo, Inc	2.250		03/19/25		789,798
	525,000		PepsiCo, Inc	2.750		04/30/25		559,617
	425,000		PepsiCo, Inc	3.500		07/17/25		466,425
	275,000		PepsiCo, Inc	2.850		02/24/26		296,255
	1,300,000		PepsiCo, Inc	2.375		10/06/26		1,380,533
	150,000		PepsiCo, Inc	2.625		03/19/27		159,546
	500,000		PepsiCo, Inc	2.750		03/19/30		520,646
	2,275,000		PepsiCo, Inc	1.625		05/01/30		2,174,842
	2,000,000		PepsiCo, Inc	1.400		02/25/31		1,863,463
	750,000		PepsiCo, Inc	3.500		03/19/40		806,893
	625,000		PepsiCo, Inc	4.000		03/05/42		703,491
	200,000		PepsiCo, Inc	3.600		08/13/42		215,785
	450,000		PepsiCo, Inc	4.600		07/17/45		552,110
	1,600,000		PepsiCo, Inc	4.450		04/14/46		1,936,897
	575,000		PepsiCo, Inc	3.450		10/06/46		607,988
	925,000		PepsiCo, Inc	4.000		05/02/47		1,037,582
	1,250,000		PepsiCo, Inc	3.375		07/29/49		1,291,214
	750,000		PepsiCo, Inc	2.875		10/15/49		725,859
	1,250,000		PepsiCo, Inc	3.625		03/19/50		1,378,772
	750,000		PepsiCo, Inc	3.875		03/19/60		845,330

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE

$	200,000		Philip Morris International, Inc	2.900	%	11/15/21	$	203,271
	300,000		Philip Morris International, Inc	2.625		02/18/22		305,587
	425,000		Philip Morris International, Inc	2.375		08/17/22		436,441
	375,000		Philip Morris International, Inc	2.500		08/22/22		385,913
	450,000		Philip Morris International, Inc	2.500		11/02/22		464,507
	500,000		Philip Morris International, Inc	2.625		03/06/23		521,278
	300,000		Philip Morris International, Inc	2.125		05/10/23		309,366
	300,000		Philip Morris International, Inc	3.600		11/15/23		323,158
	600,000		Philip Morris International, Inc	3.250		11/10/24		650,078
	500,000		Philip Morris International, Inc	1.500		05/01/25		506,800
	500,000		Philip Morris International, Inc	3.375		08/11/25		543,411
	700,000		Philip Morris International, Inc	2.750		02/25/26		745,302
	1,000,000		Philip Morris International, Inc	0.875		05/01/26		971,051
	1,300,000	e	Philip Morris International, Inc	3.125		08/17/27		1,407,739
	1,500,000		Philip Morris International, Inc	3.125		03/02/28		1,592,653
	1,450,000		Philip Morris International, Inc	3.375		08/15/29		1,563,035
	450,000		Philip Morris International, Inc	2.100		05/01/30		434,141
	1,000,000		Philip Morris International, Inc	1.750		11/01/30		936,251
	400,000		Philip Morris International, Inc	6.375		05/16/38		552,440
	225,000		Philip Morris International, Inc	4.375		11/15/41		255,676
	200,000		Philip Morris International, Inc	4.500		03/20/42		228,705
	275,000		Philip Morris International, Inc	3.875		08/21/42		291,339
	300,000		Philip Morris International, Inc	4.125		03/04/43		325,469
	200,000		Philip Morris International, Inc	4.875		11/15/43		238,717
	2,000,000		Philip Morris International, Inc	4.250		11/10/44		2,224,351
	200,000		Reynolds American, Inc	4.850		09/15/23		219,617
	550,000		Reynolds American, Inc	4.450		06/12/25		610,302
	750,000		Reynolds American, Inc	5.700		08/15/35		889,540
	65,000		Reynolds American, Inc	7.250		06/15/37		83,423
	200,000		Reynolds American, Inc	6.150		09/15/43		241,094
	1,775,000		Reynolds American, Inc	5.850		08/15/45		2,092,237
	1,600,000		Tyson Foods, Inc	4.500		06/15/22		1,661,411
	100,000		Tyson Foods, Inc	3.900		09/28/23		107,731
	750,000		Tyson Foods, Inc	3.950		08/15/24		818,913
	500,000		Tyson Foods, Inc	4.000		03/01/26		554,778
	1,150,000		Tyson Foods, Inc	3.550		06/02/27		1,255,617
	500,000		Tyson Foods, Inc	4.350		03/01/29		569,179
	500,000		Tyson Foods, Inc	5.150		08/15/44		614,130
	300,000		Tyson Foods, Inc	4.550		06/02/47		352,877
	1,700,000		Tyson Foods, Inc	5.100		09/28/48		2,152,560
			TOTAL FOOD, BEVERAGE & TOBACCO					215,161,353

HEALTH CARE EQUIPMENT & SERVICES - 1.4%
	175,000		Abbott Laboratories	2.550		03/15/22		178,879
	200,000		Abbott Laboratories	3.400		11/30/23		214,311
	275,000		Abbott Laboratories	2.950		03/15/25		294,386
	1,708,000		Abbott Laboratories	3.750		11/30/26		1,917,163
	625,000		Abbott Laboratories	1.150		01/30/28		600,622
	200,000		Abbott Laboratories	1.400		06/30/30		186,836
	2,750,000		Abbott Laboratories	4.750		11/30/36		3,402,922
	3,450,000		Abbott Laboratories	4.900		11/30/46		4,493,198
	500,000		Adventist Health System	2.952		03/01/29		516,966
	500,000		Adventist Health System	3.630		03/01/49		516,667
	200,000		Advocate Health & Hospitals Corp	3.829		08/15/28		222,313

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE

$	750,000		Advocate Health & Hospitals Corp	2.211	%	06/15/30	$	743,698
	100,000		Advocate Health & Hospitals Corp	4.272		08/15/48		119,320
	600,000		Advocate Health & Hospitals Corp	3.387		10/15/49		612,281
	500,000		Advocate Health & Hospitals Corp	3.008		06/15/50		477,300
	1,500,000		AHS Hospital Corp	2.780		07/01/51		1,387,998
	200,000		Allina Health System	3.887		04/15/49		225,264
	1,000,000		AmerisourceBergen Corp	0.737		03/15/23		1,000,857
	400,000		AmerisourceBergen Corp	3.400		05/15/24		429,120
	700,000		AmerisourceBergen Corp	3.250		03/01/25		753,188
	200,000		AmerisourceBergen Corp	3.450		12/15/27		217,743
	1,000,000		AmerisourceBergen Corp	2.800		05/15/30		1,019,473
	1,000,000		AmerisourceBergen Corp	2.700		03/15/31		997,743
	700,000		AmerisourceBergen Corp	4.300		12/15/47		775,503
	150,000		Anthem, Inc	3.700		08/15/21		150,548
	1,000,000		Anthem, Inc	3.125		05/15/22		1,030,095
	500,000		Anthem, Inc	3.300		01/15/23		524,821
	225,000		Anthem, Inc	3.500		08/15/24		243,248
	1,625,000		Anthem, Inc	3.350		12/01/24		1,757,659
	1,500,000		Anthem, Inc	2.375		01/15/25		1,567,685
	1,000,000		Anthem, Inc	1.500		03/15/26		1,001,077
	850,000		Anthem, Inc	3.650		12/01/27		938,001
	1,225,000		Anthem, Inc	4.101		03/01/28		1,377,732
	500,000		Anthem, Inc	2.875		09/15/29		519,787
	1,500,000		Anthem, Inc	2.250		05/15/30		1,476,250
	1,000,000		Anthem, Inc	2.550		03/15/31		1,000,165
	1,150,000		Anthem, Inc	4.625		05/15/42		1,357,824
	125,000		Anthem, Inc	4.650		01/15/43		148,546
	500,000		Anthem, Inc	5.100		01/15/44		621,046
	425,000		Anthem, Inc	4.650		08/15/44		507,163
	625,000		Anthem, Inc	4.375		12/01/47		719,913
	1,800,000		Anthem, Inc	4.550		03/01/48		2,122,676
	500,000		Anthem, Inc	3.700		09/15/49		518,975
	1,150,000		Anthem, Inc	3.125		05/15/50		1,097,383
	425,000		Anthem, Inc	3.600		03/15/51		439,920
	1,000,000		Ascension Health	2.532		11/15/29		1,026,070
	1,000,000		Ascension Health	3.106		11/15/39		1,023,285
	875,000		Ascension Health	3.945		11/15/46		1,003,031
	200,000		Ascension Health	4.847		11/15/53		264,535
	500,000		Banner Health	2.338		01/01/30		501,368
	750,000		Banner Health	1.897		01/01/31		713,067
	500,000		Banner Health	3.181		01/01/50		501,738
	750,000		Banner Health	2.913		01/01/51		690,634
	1,000,000		Baptist Healthcare System Obligated Group	3.540		08/15/50		1,007,571
	475,000		Baxter International, Inc	2.600		08/15/26		504,520
	2,000,000	g	Baxter International, Inc	1.730		04/01/31		1,870,906
	300,000		Baxter International, Inc	3.500		08/15/46		312,386
	1,500,000		Baylor Scott & White Holdings	1.777		11/15/30		1,427,489
	290,000		Baylor Scott & White Holdings	4.185		11/15/45		339,538
	200,000		Baylor Scott & White Holdings	3.967		11/15/46		223,115
	2,000,000		Baylor Scott & White Holdings	2.839		11/15/50		1,882,070
	1,237,000		Becton Dickinson & Co	2.894		06/06/22		1,269,059
	1,400,000		Becton Dickinson & Co	3.363		06/06/24		1,503,912
	601,000		Becton Dickinson & Co	3.734		12/15/24		656,487

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE

$	1,277,000	Becton Dickinson & Co	3.700	%	06/06/27	$	1,408,555
	675,000	Becton Dickinson & Co	2.823		05/20/30		691,983
	391,000	Becton Dickinson & Co	4.685		12/15/44		465,888
	1,000,000	Becton Dickinson & Co	4.669		06/06/47		1,193,709
	1,000,000	Becton Dickinson & Co	3.794		05/20/50		1,062,446
	1,500,000	Becton Dickinson and Co	1.957		02/11/31		1,423,006
	500,000	Bon Secours Mercy Health, Inc	3.464		06/01/30		539,446
	500,000	Bon Secours Mercy Health, Inc	2.095		06/01/31		479,314
	500,000	Bon Secours Mercy Health, Inc	3.205		06/01/50		488,290
	150,000	Boston Scientific Corp	3.375		05/15/22		154,836
	500,000	Boston Scientific Corp	3.450		03/01/24		536,750
	1,155,000	Boston Scientific Corp	3.850		05/15/25		1,276,221
	500,000	Boston Scientific Corp	3.750		03/01/26		552,051
	700,000	Boston Scientific Corp	4.000		03/01/28		791,943
	275,000	Boston Scientific Corp	4.000		03/01/29		305,895
	1,500,000	Boston Scientific Corp	2.650		06/01/30		1,513,914
	700,000	Boston Scientific Corp	4.550		03/01/39		823,554
	775,000	Boston Scientific Corp	4.700		03/01/49		936,733
	625,000	Cardinal Health, Inc	2.616		06/15/22		639,667
	100,000	Cardinal Health, Inc	3.200		06/15/22		103,247
	200,000	Cardinal Health, Inc	3.200		03/15/23		209,997
	650,000	Cardinal Health, Inc	3.079		06/15/24		690,796
	100,000	Cardinal Health, Inc	3.500		11/15/24		108,366
	200,000	Cardinal Health, Inc	3.750		09/15/25		219,095
	1,475,000	Cardinal Health, Inc	3.410		06/15/27		1,594,630
	100,000	Cardinal Health, Inc	4.600		03/15/43		109,965
	200,000	Cardinal Health, Inc	4.500		11/15/44		216,322
	200,000	Cardinal Health, Inc	4.900		09/15/45		230,353
	500,000	Cardinal Health, Inc	4.368		06/15/47		543,172
	1,000,000	Children’s Hospital of Philadelphia	2.704		07/01/50		919,093
	200,000	CHRISTUS Health	4.341		07/01/28		225,949
	1,100,000	Cigna Corp	3.000		07/15/23		1,156,733
	623,000	Cigna Corp	3.750		07/15/23		666,266
	300,000	Cigna Corp	3.500		06/15/24		323,511
	900,000	Cigna Corp	3.250		04/15/25		968,064
	150,000	Cigna Corp	4.500		02/25/26		170,771
	1,000,000	Cigna Corp	1.250		03/15/26		987,180
	4,475,000	Cigna Corp	3.400		03/01/27		4,858,690
	300,000	Cigna Corp	3.050		10/15/27		320,901
	3,275,000	Cigna Corp	4.375		10/15/28		3,746,822
	250,000	Cigna Corp	2.400		03/15/30		247,882
	550,000	Cigna Corp	2.375		03/15/31		540,974
	1,700,000	Cigna Corp	4.800		08/15/38		2,031,836
	225,000	Cigna Corp	3.200		03/15/40		224,995
	93,000	Cigna Corp	6.125		11/15/41		127,104
	975,000	Cigna Corp	4.800		07/15/46		1,168,550
	1,150,000	Cigna Corp	3.875		10/15/47		1,229,122
	2,450,000	Cigna Corp	4.900		12/15/48		3,000,902
	750,000	Cigna Corp	3.400		03/15/50		737,500
	1,100,000	Cigna Corp	3.400		03/15/51		1,081,498
	600,000	City of Hope	4.378		08/15/48		703,209
	750,000	Community Health Network, Inc	3.099		05/01/50		700,025
	900,000	CVS Health Corp	3.500		07/20/22		931,783
	925,000	CVS Health Corp	2.750		12/01/22		955,320

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE

$	900,000	CVS Health Corp	3.375	%	08/12/24	$	968,297
	250,000	CVS Health Corp	2.625		08/15/24		263,803
	1,969,000	CVS Health Corp	3.875		07/20/25		2,176,447
	2,550,000	CVS Health Corp	2.875		06/01/26		2,706,897
	1,250,000	CVS Health Corp	3.000		08/15/26		1,335,692
	6,500,000	CVS Health Corp	1.300		08/21/27		6,244,177
	3,131,000	CVS Health Corp	4.300		03/25/28		3,555,507
	275,000	CVS Health Corp	3.250		08/15/29		290,673
	1,825,000	CVS Health Corp	1.750		08/21/30		1,703,454
	1,525,000	CVS Health Corp	1.875		02/28/31		1,432,404
	4,100,000	CVS Health Corp	4.780		03/25/38		4,838,761
	850,000	CVS Health Corp	2.700		08/21/40		782,784
	400,000	CVS Health Corp	5.300		12/05/43		496,465
	1,800,000	CVS Health Corp	5.125		07/20/45		2,203,652
	8,525,000	CVS Health Corp	5.050		03/25/48		10,465,629
	200,000	Danaher Corp	3.350		09/15/25		218,235
	200,000	Danaher Corp	4.375		09/15/45		232,989
	400,000	Danaher Corp	2.600		10/01/50		353,902
	100,000	Dartmouth-Hitchcock Health	4.178		08/01/48		110,501
	1,000,000	DENTSPLY SIRONA, Inc	3.250		06/01/30		1,045,557
	200,000	Dignity Health	5.267		11/01/64		248,886
	400,000	Duke University Health System, Inc	3.920		06/01/47		450,953
	400,000	Edwards Lifesciences Corp	4.300		06/15/28		451,021
	750,000	Hackensack Meridian Health, Inc	2.675		09/01/41		695,615
	200,000	Hackensack Meridian Health, Inc	4.211		07/01/48		234,609
	750,000	Hackensack Meridian Health, Inc	2.875		09/01/50		699,380
	200,000	Hackensack Meridian Health, Inc	4.500		07/01/57		248,249
	685,000	Hartford HealthCare Corp	3.447		07/01/54		676,335
	2,500,000	HCA, Inc	5.000		03/15/24		2,781,634
	2,000,000	HCA, Inc	4.500		02/15/27		2,243,253
	1,500,000	HCA, Inc	4.125		06/15/29		1,662,278
	225,000	HCA, Inc	5.125		06/15/39		270,228
	875,000	HCA, Inc	5.500		06/15/47		1,088,320
	2,500,000	HCA, Inc	5.250		06/15/49		3,059,172
	100,000	Humana, Inc	3.150		12/01/22		103,626
	400,000	Humana, Inc	2.900		12/15/22		414,519
	300,000	Humana, Inc	3.850		10/01/24		327,618
	600,000	Humana, Inc	3.950		03/15/27		669,083
	175,000	Humana, Inc	3.125		08/15/29		182,538
	200,000	Humana, Inc	4.625		12/01/42		232,301
	300,000	Humana, Inc	4.950		10/01/44		360,196
	600,000	Humana, Inc	4.800		03/15/47		717,532
	500,000	Humana, Inc	3.950		08/15/49		538,069
	200,000	Indiana University Health, Inc Obligated Group	3.970		11/01/48		229,122
	760,000	Integris Baptist Medical Center, Inc	3.875		08/15/50		802,377
	350,000	Johns Hopkins Health System Corp	3.837		05/15/46		396,238
	100,000	Kaiser Foundation Hospitals	3.500		04/01/22		103,064
	500,000	Kaiser Foundation Hospitals	3.150		05/01/27		545,546
	100,000	Kaiser Foundation Hospitals	4.875		04/01/42		127,092
	1,265,000	Kaiser Foundation Hospitals	4.150		05/01/47		1,491,435
	1,000,000	Kaiser Foundation Hospitals	3.266		11/01/49		1,029,816
	755,000	Koninklijke Philips NV	5.000		03/15/42		967,713
	1,500,000	Laboratory Corp of America Holdings	3.200		02/01/22		1,534,769

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE

$	200,000		Laboratory Corp of America Holdings	3.750	%	08/23/22	$	207,204
	700,000		Laboratory Corp of America Holdings	4.000		11/01/23		752,179
	200,000		Laboratory Corp of America Holdings	3.250		09/01/24		214,366
	500,000		Laboratory Corp of America Holdings	2.300		12/01/24		521,495
	100,000		Laboratory Corp of America Holdings	3.600		02/01/25		108,228
	300,000		Laboratory Corp of America Holdings	3.600		09/01/27		328,484
	500,000		Laboratory Corp of America Holdings	2.950		12/01/29		515,226
	800,000		Laboratory Corp of America Holdings	4.700		02/01/45		908,209
	200,000		Mayo Clinic	4.000		11/15/47		230,809
	200,000		Mayo Clinic	4.128		11/15/52		240,175
	2,500,000	h	Mayo Clinic	3.196		11/15/61		2,493,858
	600,000		McKesson Corp	2.700		12/15/22		618,487
	200,000		McKesson Corp	2.850		03/15/23		207,537
	1,925,000		McKesson Corp	3.796		03/15/24		2,088,248
	1,000,000		McKesson Corp	0.900		12/03/25		979,213
	500,000		McKesson Corp	3.950		02/16/28		558,969
	300,000		McKesson Corp	4.750		05/30/29		352,043
	200,000		McLaren Health Care Corp	4.386		05/15/48		236,001
	1,441,000		Medtronic, Inc	3.500		03/15/25		1,580,508
	2,777,000		Medtronic, Inc	4.375		03/15/35		3,339,259
	1,074,000		Medtronic, Inc	4.625		03/15/45		1,354,395
	500,000		Memorial Health Services	3.447		11/01/49		518,981
	1,000,000		Memorial Sloan-Kettering Cancer Center	2.955		01/01/50		959,407
	200,000		Memorial Sloan-Kettering Cancer Center	4.125		07/01/52		234,851
	500,000		Memorial Sloan-Kettering Cancer Center	4.200		07/01/55		592,815
	200,000		Mercy Health	4.302		07/01/28		229,350
	1,000,000		Methodist Hospital	2.705		12/01/50		921,170
	500,000		Montefiore Obligated Group	5.246		11/01/48		569,954
	750,000		Montefiore Obligated Group	4.287		09/01/50		765,646
	100,000		Mount Sinai Hospitals Group, Inc	3.981		07/01/48		106,698
	600,000		Mount Sinai Hospitals Group, Inc	3.737		07/01/49		621,176
	895,000		Mount Sinai Hospitals Group, Inc	3.391		07/01/50		873,642
	1,000,000		MultiCare Health System	2.803		08/15/50		918,667
	1,000,000		New York and Presbyterian Hospital	2.256		08/01/40		894,907
	300,000		New York and Presbyterian Hospital	4.024		08/01/45		344,412
	150,000		New York and Presbyterian Hospital	4.063		08/01/56		173,624
	1,000,000	e	New York and Presbyterian Hospital	2.606		08/01/60		853,080
	500,000		New York and Presbyterian Hospital	3.954		08/01/19		533,001
	140,000		Northwell Healthcare, Inc	3.979		11/01/46		149,141
	675,000		Northwell Healthcare, Inc	4.260		11/01/47		759,338
	500,000		Northwell Healthcare, Inc	3.809		11/01/49		522,314
	1,000,000		NY Society for Relief of Ruptured & Crippled Maintaining Hosp Special Surgery	2.667		10/01/50		893,520
	350,000		NYU Hospitals Center	5.750		07/01/43		478,363
	250,000		NYU Hospitals Center	4.368		07/01/47		288,422
	915,000		NYU Langone Hospitals	3.380		07/01/55		886,876
	750,000		OhioHealth Corp	3.042		11/15/50		744,134
	100,000		Orlando Health Obligated Group	4.089		10/01/48		113,923
	1,000,000		Orlando Health Obligated Group	3.327		10/01/50		1,019,119
	750,000		PeaceHealth Obligated Group	1.375		11/15/25		748,446
	200,000		PeaceHealth Obligated Group	4.787		11/15/48		248,925
	750,000		PeaceHealth Obligated Group	3.218		11/15/50		732,306
	200,000		Providence St. Joseph Health Obligated Group	2.746		10/01/26		212,690
	570,000		Providence St. Joseph Health Obligated Group	2.532		10/01/29		579,912

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	100,000	Providence St. Joseph Health Obligated Group		3.744	%	10/01/47	$	108,317
	350,000	Providence St. Joseph Health Obligated Group		3.930		10/01/48		386,425
	125,000	Quest Diagnostics, Inc		3.500		03/30/25		135,500
	225,000	Quest Diagnostics, Inc		3.450		06/01/26		244,681
	500,000	Quest Diagnostics, Inc		4.200		06/30/29		570,954
	750,000	Quest Diagnostics, Inc		2.950		06/30/30		775,291
	500,000	Quest Diagnostics, Inc		2.800		06/30/31		508,213
	300,000	Quest Diagnostics, Inc		4.700		03/30/45		349,068
	390,000	Rush Obligated Group		3.922		11/15/29		435,045
	200,000	RWJ Barnabas Health, Inc		3.949		07/01/46		216,385
	1,000,000	Sharp HealthCare		2.680		08/01/50		902,338
	1,000,000	Smith & Nephew plc		2.032		10/14/30		941,705
	300,000	SSM Health Care Corp		3.688		06/01/23		317,768
	400,000	SSM Health Care Corp		3.823		06/01/27		450,263
	500,000	Stanford Health Care		3.795		11/15/48		559,816
	1,000,000	Stryker Corp		0.600		12/01/23		1,000,616
	475,000	Stryker Corp		1.150		06/15/25		474,279
	200,000	Stryker Corp		3.375		11/01/25		217,344
	1,600,000	Stryker Corp		3.500		03/15/26		1,755,329
	500,000	Stryker Corp		3.650		03/07/28		552,340
	600,000	Stryker Corp		1.950		06/15/30		578,987
	200,000	Stryker Corp		4.100		04/01/43		223,952
	200,000	Stryker Corp		4.375		05/15/44		234,545
	550,000	Stryker Corp		4.625		03/15/46		669,901
	575,000	Stryker Corp		2.900		06/15/50		542,529
	200,000	Sutter Health		3.695		08/15/28		219,107
	1,000,000	Sutter Health		2.294		08/15/30		982,324
	500,000	Sutter Health		3.161		08/15/40		498,108
	200,000	Sutter Health		4.091		08/15/48		221,210
	500,000	Sutter Health		3.361		08/15/50		494,782
	1,000,000	Texas Health Resources		2.328		11/15/50		818,439
	100,000	Texas Health Resources		4.330		11/15/55		120,822
	2,000,000	Trinity Health Corp		2.632		12/01/40		1,902,485
	300,000	Trinity Health Corp		4.125		12/01/45		347,833
	185,000	Trinity Health Corp		3.434		12/01/48		193,698
	800,000	UnitedHealth Group, Inc		3.350		07/15/22		830,597
	625,000	UnitedHealth Group, Inc		2.375		10/15/22		644,681
	325,000	UnitedHealth Group, Inc		2.750		02/15/23		336,868
	400,000	UnitedHealth Group, Inc		2.875		03/15/23		418,803
	1,650,000	UnitedHealth Group, Inc		3.500		02/15/24		1,786,685
	500,000	UnitedHealth Group, Inc		3.700		12/15/25		555,394
	1,000,000	UnitedHealth Group, Inc		1.250		01/15/26		999,483
	200,000	UnitedHealth Group, Inc		3.450		01/15/27		221,454
	300,000	UnitedHealth Group, Inc		3.375		04/15/27		329,207
	1,700,000	UnitedHealth Group, Inc		2.950		10/15/27		1,824,797
	2,375,000	UnitedHealth Group, Inc		3.850		06/15/28		2,666,208
	500,000	UnitedHealth Group, Inc		3.875		12/15/28		563,551
	1,000,000	UnitedHealth Group, Inc		2.875		08/15/29		1,058,265
	2,200,000	UnitedHealth Group, Inc		2.000		05/15/30		2,164,868
	925,000	UnitedHealth Group, Inc		4.625		07/15/35		1,129,330
	150,000	UnitedHealth Group, Inc		5.800		03/15/36		203,384
	365,000	UnitedHealth Group, Inc		6.625		11/15/37		541,465
	200,000	UnitedHealth Group, Inc		6.875		02/15/38		301,287

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	275,000	UnitedHealth Group, Inc		3.500	%	08/15/39	$	296,023
	1,000,000	UnitedHealth Group, Inc		2.750		05/15/40		983,235
	300,000	UnitedHealth Group, Inc		4.375		03/15/42		356,911
	350,000	UnitedHealth Group, Inc		3.950		10/15/42		401,862
	375,000	UnitedHealth Group, Inc		4.250		03/15/43		442,317
	1,500,000	UnitedHealth Group, Inc		4.750		07/15/45		1,890,215
	800,000	UnitedHealth Group, Inc		4.200		01/15/47		939,443
	300,000	UnitedHealth Group, Inc		4.250		04/15/47		352,743
	500,000	UnitedHealth Group, Inc		3.750		10/15/47		546,473
	1,700,000	UnitedHealth Group, Inc		4.250		06/15/48		2,026,648
	1,600,000	UnitedHealth Group, Inc		4.450		12/15/48		1,961,896
	1,000,000	UnitedHealth Group, Inc		3.700		08/15/49		1,086,607
	1,000,000	UnitedHealth Group, Inc		2.900		05/15/50		957,615
	1,250,000	UnitedHealth Group, Inc		3.875		08/15/59		1,395,904
	1,000,000	UnitedHealth Group, Inc		3.125		05/15/60		981,688
	200,000	West Virginia United Health System Obligated Group		3.129		06/01/50		190,631
	500,000	Willis-Knighton Medical Center		3.065		03/01/51		469,443
	750,000	Zimmer Biomet Holdings, Inc		3.150		04/01/22		766,059
	250,000	Zimmer Biomet Holdings, Inc		3.700		03/19/23		264,416
	2,575,000	Zimmer Biomet Holdings, Inc		3.550		04/01/25		2,789,929
	225,000	Zimmer Biomet Holdings, Inc		3.050		01/15/26		240,348
	1,100,000	Zimmer Biomet Holdings, Inc		3.550		03/20/30		1,176,014
		TOTAL HEALTH CARE EQUIPMENT & SERVICES						263,855,132

HOUSEHOLD & PERSONAL PRODUCTS - 0.1%
	100,000	Church & Dwight Co, Inc		2.450		08/01/22		102,442
	250,000	Church & Dwight Co, Inc		2.875		10/01/22		258,720
	500,000	Church & Dwight Co, Inc		3.150		08/01/27		542,433
	100,000	Church & Dwight Co, Inc		3.950		08/01/47		109,516
	100,000	Clorox Co		3.800		11/15/21		102,069
	100,000	Clorox Co		3.050		09/15/22		103,158
	200,000	Clorox Co		3.500		12/15/24		218,870
	300,000	Clorox Co		3.100		10/01/27		325,267
	500,000	Clorox Co		3.900		05/15/28		559,344
	1,000,000	Clorox Co		1.800		05/15/30		951,394
	1,100,000	Colgate-Palmolive Co		2.250		11/15/22		1,135,896
	200,000	Colgate-Palmolive Co		1.950		02/01/23		205,991
	300,000	Colgate-Palmolive Co		3.250		03/15/24		324,490
	60,000	Colgate-Palmolive Co		6.450		06/16/28		76,364
	300,000	Colgate-Palmolive Co		4.000		08/15/45		354,030
	550,000	Colgate-Palmolive Co		3.700		08/01/47		621,551
	200,000	Estee Lauder Cos, Inc		2.350		08/15/22		205,234
	125,000	Estee Lauder Cos, Inc		2.000		12/01/24		130,165
	450,000	Estee Lauder Cos, Inc		3.150		03/15/27		487,162
	200,000	Estee Lauder Cos, Inc		2.375		12/01/29		202,453
	100,000	Estee Lauder Cos, Inc		2.600		04/15/30		103,036
	1,500,000	Estee Lauder Cos, Inc		1.950		03/15/31		1,453,695
	100,000	Estee Lauder Cos, Inc		6.000		05/15/37		133,788
	300,000	Estee Lauder Cos, Inc		4.375		06/15/45		355,562
	375,000	Estee Lauder Cos, Inc		4.150		03/15/47		434,895
	700,000	Estee Lauder Cos, Inc		3.125		12/01/49		709,512
	125,000	Kimberly-Clark Corp		2.400		03/01/22		127,490
	950,000	Kimberly-Clark Corp		3.050		08/15/25		1,024,811

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	200,000	Kimberly-Clark Corp		1.050	%	09/15/27	$	194,166
	412,000	Kimberly-Clark Corp		3.950		11/01/28		468,756
	1,500,000	Kimberly-Clark Corp		3.200		04/25/29		1,622,436
	200,000	Kimberly-Clark Corp		6.625		08/01/37		298,552
	725,000	Kimberly-Clark Corp		3.200		07/30/46		744,830
	200,000	Kimberly-Clark Corp		3.900		05/04/47		229,721
	300,000	Kimberly-Clark Corp		2.875		02/07/50		294,692
	2,400,000	Procter & Gamble Co		2.150		08/11/22		2,458,344
	600,000	Procter & Gamble Co		3.100		08/15/23		639,151
	2,000,000	Procter & Gamble Co		0.550		10/29/25		1,965,854
	750,000	Procter & Gamble Co		2.700		02/02/26		806,710
	1,750,000	Procter & Gamble Co		2.450		11/03/26		1,858,212
	750,000	Procter & Gamble Co		2.850		08/11/27		813,468
	3,000,000	Procter & Gamble Co		3.000		03/25/30		3,229,129
	1,150,000	Procter & Gamble Co		1.200		10/29/30		1,064,196
		TOTAL HOUSEHOLD & PERSONAL PRODUCTS						28,047,555

INSURANCE - 0.8%
	250,000	ACE INA Holdings, Inc		2.700		03/13/23		260,743
	700,000	ACE INA Holdings, Inc		3.150		03/15/25		753,339
	2,325,000	ACE INA Holdings, Inc		3.350		05/03/26		2,533,644
	150,000	ACE INA Holdings, Inc		4.150		03/13/43		171,248
	1,600,000	ACE INA Holdings, Inc		4.350		11/03/45		1,893,077
	500,000	Aegon NV		5.500		04/11/48		562,434
	1,175,000	Aetna, Inc		2.750		11/15/22		1,210,386
	1,125,000	Aetna, Inc		2.800		06/15/23		1,173,497
	325,000	Aetna, Inc		3.500		11/15/24		351,000
	440,000	Aetna, Inc		6.625		06/15/36		614,108
	350,000	Aetna, Inc		4.500		05/15/42		398,756
	500,000	Aetna, Inc		4.125		11/15/42		543,509
	1,050,000	Aetna, Inc		3.875		08/15/47		1,099,142
	600,000	Aflac, Inc		3.625		06/15/23		642,307
	525,000	Aflac, Inc		3.625		11/15/24		577,941
	2,000,000	Aflac, Inc		1.125		03/15/26		1,983,828
	200,000	Aflac, Inc		2.875		10/15/26		214,763
	375,000	Aflac, Inc		3.600		04/01/30		410,120
	200,000	Aflac, Inc		4.000		10/15/46		217,323
	500,000	Aflac, Inc		4.750		01/15/49		619,705
	300,000	Alleghany Corp		4.950		06/27/22		315,835
	1,000,000	Alleghany Corp		3.625		05/15/30		1,078,251
	200,000	Alleghany Corp		4.900		09/15/44		237,329
	300,000	Allied World Assurance Co Holdings Ltd		4.350		10/29/25		321,862
	1,250,000	Allstate Corp		3.150		06/15/23		1,323,572
	1,000,000	Allstate Corp		0.750		12/15/25		982,661
	275,000	Allstate Corp		3.280		12/15/26		302,328
	1,000,000	Allstate Corp		1.450		12/15/30		915,797
	600,000	Allstate Corp		4.500		06/15/43		708,809
	975,000	Allstate Corp		4.200		12/15/46		1,122,934
	250,000	Allstate Corp		3.850		08/10/49		274,532
	200,000	Allstate Corp		5.750		08/15/53		211,500
	300,000	American Financial Group, Inc		3.500		08/15/26		325,147
	325,000	American Financial Group, Inc		5.250		04/02/30		384,850
	400,000	American Financial Group, Inc		4.500		06/15/47		446,533

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	600,000	American International Group, Inc		4.125	%	02/15/24	$	656,629
	3,000,000	American International Group, Inc		2.500		06/30/25		3,147,660
	750,000	American International Group, Inc		3.750		07/10/25		818,928
	825,000	American International Group, Inc		4.200		04/01/28		926,500
	2,600,000	American International Group, Inc		4.250		03/15/29		2,926,454
	1,000,000	American International Group, Inc		3.400		06/30/30		1,062,959
	1,675,000	American International Group, Inc		3.875		01/15/35		1,821,371
	300,000	American International Group, Inc		4.700		07/10/35		352,458
	925,000	American International Group, Inc		6.250		05/01/36		1,242,511
	725,000	American International Group, Inc		4.500		07/16/44		820,857
	300,000	American International Group, Inc		4.800		07/10/45		354,552
	1,000,000	American International Group, Inc		4.750		04/01/48		1,190,912
	300,000	American International Group, Inc		5.750		04/01/48		334,500
	1,000,000	American International Group, Inc		4.375		06/30/50		1,141,497
	200,000	American International Group, Inc		4.375		01/15/55		223,187
	300,000	Aon Corp		2.200		11/15/22		308,015
	200,000	Aon Corp		4.500		12/15/28		229,011
	450,000	Aon Corp		3.750		05/02/29		495,136
	450,000	Aon Corp		2.800		05/15/30		459,851
	200,000	Aon Corp		6.250		09/30/40		273,766
	200,000	Aon plc		4.000		11/27/23		215,370
	300,000	Aon plc		3.500		06/14/24		322,320
	2,450,000	Aon plc		3.875		12/15/25		2,707,268
	550,000	Aon plc		4.750		05/15/45		667,462
	1,050,000	Arch Capital Group Ltd		4.011		12/15/26		1,183,143
	200,000	Arch Capital Group Ltd		5.031		12/15/46		243,955
	600,000	Arch Capital Group Ltd		3.635		06/30/50		600,608
	300,000	Arch Capital Group US, Inc		5.144		11/01/43		368,267
	200,000	Aspen Insurance Holdings Ltd		4.650		11/15/23		218,115
	100,000	Assurant, Inc		4.000		03/15/23		106,632
	300,000	Assurant, Inc		4.200		09/27/23		324,737
	300,000	Assurant, Inc		4.900		03/27/28		341,769
	500,000	Assurant, Inc		3.700		02/22/30		531,421
	7,000	Assurant, Inc		6.750		02/15/34		8,494
	200,000	Assured Guaranty US Holdings, Inc		5.000		07/01/24		225,407
	675,000	Athene Holding Ltd		4.125		01/12/28		735,196
	500,000	Athene Holding Ltd		6.150		04/03/30		609,503
	1,000,000	Athene Holding Ltd		3.500		01/15/31		1,027,588
	770,000	AXA S.A.		8.600		12/15/30		1,176,876
	300,000	AXIS Specialty Finance LLC		3.900		07/15/29		322,382
	250,000	AXIS Specialty Finance LLC		4.900		01/15/40		256,250
	200,000	AXIS Specialty Finance plc		4.000		12/06/27		224,020
	275,000	Berkshire Hathaway Finance Corp		3.000		05/15/22		283,639
	100,000	Berkshire Hathaway Finance Corp		1.850		03/12/30		97,564
	1,500,000	Berkshire Hathaway Finance Corp		1.450		10/15/30		1,399,910
	300,000	Berkshire Hathaway Finance Corp		4.400		05/15/42		356,476
	2,175,000	Berkshire Hathaway Finance Corp		4.200		08/15/48		2,509,627
	1,725,000	Berkshire Hathaway Finance Corp		4.250		01/15/49		1,996,994
	1,450,000	Berkshire Hathaway Finance Corp		2.850		10/15/50		1,336,453
	3,000,000	Berkshire Hathaway Finance Corp		2.500		01/15/51		2,576,545
	827,000	Brighthouse Financial, Inc		3.700		06/22/27		874,911
	1,000,000	Brighthouse Financial, Inc		5.625		05/15/30		1,171,707
	304,000	Brighthouse Financial, Inc		4.700		06/22/47		310,193
	500,000	Brown & Brown, Inc		4.500		03/15/29		561,687

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	1,000,000		Brown & Brown, Inc		2.375	%	03/15/31	$	961,419
	450,000		Chubb Corp		6.000		05/11/37		622,912
	1,225,000		Chubb INA Holdings, Inc		2.875		11/03/22		1,267,026
	1,325,000		Chubb INA Holdings, Inc		1.375		09/15/30		1,209,919
	200,000		Cincinnati Financial Corp		6.920		05/15/28		255,031
	690,000		CNA Financial Corp		3.950		05/15/24		749,561
	200,000		CNA Financial Corp		4.500		03/01/26		225,968
	225,000		CNA Financial Corp		3.450		08/15/27		245,168
	100,000		CNA Financial Corp		3.900		05/01/29		110,253
	1,150,000		CNA Financial Corp		2.050		08/15/30		1,093,102
	500,000		CNO Financial Group, Inc		5.250		05/30/29		576,211
	200,000		Enstar Group Ltd		4.500		03/10/22		206,040
	500,000		Enstar Group Ltd		4.950		06/01/29		558,855
	300,000		Everest Reinsurance Holdings, Inc		4.868		06/01/44		355,460
	250,000		Everest Reinsurance Holdings, Inc		3.500		10/15/50		241,179
	400,000		Fairfax Financial Holdings Ltd		4.850		04/17/28		444,745
	500,000		Fairfax Financial Holdings Ltd		4.625		04/29/30		545,697
	1,000,000	g	Fairfax Financial Holdings Ltd		3.375		03/03/31		996,234
	250,000		Fidelity National Financial, Inc		5.500		09/01/22		266,932
	300,000		Fidelity National Financial, Inc		4.500		08/15/28		337,381
	1,000,000		Fidelity National Financial, Inc		3.400		06/15/30		1,043,725
	500,000		Fidelity National Financial, Inc		2.450		03/15/31		483,519
	750,000		First American Financial Corp		4.000		05/15/30		810,753
	350,000		Globe Life, Inc		2.150		08/15/30		335,909
	200,000		Hanover Insurance Group, Inc		4.500		04/15/26		226,453
	1,000,000		Hanover Insurance Group, Inc		2.500		09/01/30		977,832
	750,000		Hartford Financial Services Group, Inc		2.800		08/19/29		778,007
	400,000		Hartford Financial Services Group, Inc		4.300		04/15/43		449,809
	450,000		Hartford Financial Services Group, Inc		4.400		03/15/48		518,041
	450,000		Hartford Financial Services Group, Inc		3.600		08/19/49		467,389
	200,000		Kemper Corp		4.350		02/15/25		217,492
	500,000		Kemper Corp		2.400		09/30/30		480,342
	400,000		Leucadia National Corp		5.500		10/18/23		434,335
	400,000		Lincoln National Corp		4.200		03/15/22		414,196
	625,000		Lincoln National Corp		4.000		09/01/23		675,503
	175,000		Lincoln National Corp		3.350		03/09/25		189,376
	600,000		Lincoln National Corp		3.625		12/12/26		659,722
	1,175,000		Lincoln National Corp		3.800		03/01/28		1,298,524
	650,000		Lincoln National Corp		3.050		01/15/30		672,992
	500,000	e	Lincoln National Corp		3.400		01/15/31		533,735
	150,000		Lincoln National Corp		7.000		06/15/40		215,634
	250,000		Lincoln National Corp		4.350		03/01/48		275,976
	500,000		Lincoln National Corp		4.375		06/15/50		560,169
	200,000		Loews Corp		2.625		05/15/23		207,325
	800,000		Loews Corp		3.750		04/01/26		882,767
	400,000		Loews Corp		3.200		05/15/30		423,070
	200,000		Loews Corp		4.125		05/15/43		215,407
	700,000		Manulife Financial Corp		4.150		03/04/26		788,802
	1,000,000		Manulife Financial Corp		2.484		05/19/27		1,037,044
	1,300,000		Manulife Financial Corp		4.061		02/24/32		1,430,472
	200,000		Manulife Financial Corp		5.375		03/04/46		261,904
	150,000		Markel Corp		4.900		07/01/22		157,927
	600,000		Markel Corp		3.500		11/01/27		658,705

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	200,000	Markel Corp		3.350	%	09/17/29	$	212,306
	150,000	Markel Corp		5.000		04/05/46		182,466
	100,000	Markel Corp		4.300		11/01/47		111,609
	750,000	Markel Corp		5.000		05/20/49		925,795
	200,000	Markel Corp		4.150		09/17/50		219,936
	725,000	Marsh & McLennan Cos, Inc		3.875		03/15/24		791,900
	2,300,000	Marsh & McLennan Cos, Inc		3.500		03/10/25		2,496,243
	1,700,000	Marsh & McLennan Cos, Inc		4.375		03/15/29		1,949,094
	450,000	Marsh & McLennan Cos, Inc		2.250		11/15/30		441,841
	250,000	Marsh & McLennan Cos, Inc		4.750		03/15/39		308,223
	100,000	Marsh & McLennan Cos, Inc		4.350		01/30/47		115,584
	300,000	Marsh & McLennan Cos, Inc		4.200		03/01/48		347,434
	1,200,000	Marsh & McLennan Cos, Inc		4.900		03/15/49		1,531,939
	200,000	Mercury General Corp		4.400		03/15/27		225,677
	700,000	MetLife, Inc		3.048		12/15/22		731,553
	525,000	MetLife, Inc		4.368		09/15/23		573,533
	700,000	MetLife, Inc		3.600		04/10/24		760,550
	700,000	MetLife, Inc		3.600		11/13/25		769,415
	675,000	MetLife, Inc		6.375		06/15/34		948,833
	1,530,000	MetLife, Inc		5.700		06/15/35		2,063,542
	130,000	MetLife, Inc		5.875		02/06/41		178,877
	450,000	MetLife, Inc		4.125		08/13/42		509,829
	750,000	MetLife, Inc		4.875		11/13/43		942,175
	500,000	MetLife, Inc		4.721		12/15/44		613,834
	800,000	MetLife, Inc		4.050		03/01/45		907,559
	1,650,000	MetLife, Inc		4.600		05/13/46		2,011,513
	200,000	Montpelier Re Holdings Ltd		4.700		10/15/22		211,886
	20,000	Nationwide Financial Services		6.750		05/15/37		23,600
	200,000	Old Republic International Corp		4.875		10/01/24		225,425
	100,000	Old Republic International Corp		3.875		08/26/26		111,185
	500,000	PartnerRe Finance B LLC		3.700		07/02/29		546,176
	500,000	PartnerRe Finance B LLC		4.500		10/01/50		510,150
	100,000	Primerica, Inc		4.750		07/15/22		105,106
	100,000	Principal Financial Group, Inc		3.300		09/15/22		104,011
	150,000	Principal Financial Group, Inc		3.125		05/15/23		158,177
	200,000	Principal Financial Group, Inc		3.400		05/15/25		215,839
	850,000	Principal Financial Group, Inc		3.100		11/15/26		917,251
	100,000	Principal Financial Group, Inc		3.700		05/15/29		109,503
	1,000,000	Principal Financial Group, Inc		2.125		06/15/30		961,645
	100,000	Principal Financial Group, Inc		4.625		09/15/42		115,296
	200,000	Principal Financial Group, Inc		4.350		05/15/43		225,766
	300,000	Principal Financial Group, Inc		4.300		11/15/46		341,268
	650,000	Progressive Corp		2.450		01/15/27		684,872
	250,000	Progressive Corp		4.000		03/01/29		283,498
	100,000	Progressive Corp		3.200		03/26/30		107,335
	120,000	Progressive Corp		6.250		12/01/32		162,278
	300,000	Progressive Corp		4.350		04/25/44		350,426
	300,000	Progressive Corp		3.700		01/26/45		318,562
	950,000	Progressive Corp		4.125		04/15/47		1,092,060
	750,000	Progressive Corp		4.200		03/15/48		873,368
	100,000	Progressive Corp		3.950		03/26/50		111,446
	891,000	Prudential Financial, Inc		4.500		11/16/21		913,759
	200,000	Prudential Financial, Inc		1.500		03/10/26		202,047
	300,000	Prudential Financial, Inc		3.878		03/27/28		338,256

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	500,000	e	Prudential Financial, Inc		2.100	%	03/10/30	$	495,258
	450,000		Prudential Financial, Inc		5.700		12/14/36		607,404
	500,000		Prudential Financial, Inc		3.000		03/10/40		493,789
	600,000		Prudential Financial, Inc		5.200		03/15/44		638,901
	1,700,000		Prudential Financial, Inc		4.600		05/15/44		2,028,399
	200,000		Prudential Financial, Inc		5.375		05/15/45		219,241
	2,300,000		Prudential Financial, Inc		4.500		09/15/47		2,463,004
	300,000		Prudential Financial, Inc		4.418		03/27/48		347,114
	2,400,000		Prudential Financial, Inc		5.700		09/15/48		2,743,856
	799,000		Prudential Financial, Inc		3.935		12/07/49		874,684
	450,000		Prudential Financial, Inc		4.350		02/25/50		520,852
	1,000,000		Prudential Financial, Inc		3.700		03/13/51		1,058,618
	200,000		Prudential plc		3.125		04/14/30		210,963
	100,000		Reinsurance Group of America, Inc		5.000		06/01/21		100,719
	250,000		Reinsurance Group of America, Inc		4.700		09/15/23		273,848
	750,000		Reinsurance Group of America, Inc		3.900		05/15/29		822,081
	350,000		Reinsurance Group of America, Inc		3.150		06/15/30		362,022
	200,000		RenaissanceRe Finance, Inc		3.700		04/01/25		216,150
	200,000		RenaissanceRe Finance, Inc		3.450		07/01/27		216,034
	300,000		RenaissanceRe Holdings Ltd		3.600		04/15/29		321,115
	250,000		Torchmark Corp		3.800		09/15/22		259,836
	350,000		Torchmark Corp		4.550		09/15/28		402,349
	20,000		Transatlantic Holdings, Inc		8.000		11/30/39		29,566
	600,000		Travelers Cos, Inc		5.350		11/01/40		788,834
	200,000		Travelers Cos, Inc		4.600		08/01/43		244,914
	250,000		Travelers Cos, Inc		4.300		08/25/45		290,199
	400,000		Travelers Cos, Inc		3.750		05/15/46		432,568
	1,100,000		Travelers Cos, Inc		4.000		05/30/47		1,252,982
	500,000		Travelers Cos, Inc		4.050		03/07/48		574,325
	900,000		Travelers Cos, Inc		4.100		03/04/49		1,052,136
	100,000		Travelers Cos, Inc		2.550		04/27/50		89,379
	100,000		Travelers Property Casualty Corp		6.375		03/15/33		139,309
	200,000		Unum Group		4.000		03/15/24		217,408
	500,000		Unum Group		4.000		06/15/29		541,634
	300,000		Unum Group		5.750		08/15/42		350,325
	500,000		Unum Group		4.500		12/15/49		501,580
	1,000,000		W R Berkley Corp		3.550		03/30/52		1,003,840
	425,000		Willis North America, Inc		3.600		05/15/24		458,006
	500,000		Willis North America, Inc		4.500		09/15/28		568,603
	900,000		Willis North America, Inc		2.950		09/15/29		929,347
	300,000		Willis North America, Inc		5.050		09/15/48		371,648
	500,000		Willis North America, Inc		3.875		09/15/49		530,587
	250,000		WR Berkley Corp		4.625		03/15/22		259,965
	200,000		WR Berkley Corp		4.750		08/01/44		232,984
	650,000		WR Berkley Corp		4.000		05/12/50		691,100
	455,000		XLIT Ltd		4.450		03/31/25		507,272
	200,000		XLIT Ltd		5.250		12/15/43		257,023
	300,000		XLIT Ltd		5.500		03/31/45		382,082
			TOTAL INSURANCE						159,479,306

MATERIALS - 0.7%
	150,000		Air Products & Chemicals, Inc		2.750		02/03/23		156,520
	300,000		Air Products & Chemicals, Inc		3.350		07/31/24		323,624

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	175,000		Air Products & Chemicals, Inc		1.500	%	10/15/25	$	177,543
	500,000		Air Products & Chemicals, Inc		1.850		05/15/27		505,739
	125,000		Air Products & Chemicals, Inc		2.050		05/15/30		123,032
	125,000		Air Products & Chemicals, Inc		2.700		05/15/40		119,564
	1,250,000		Air Products & Chemicals, Inc		2.800		05/15/50		1,156,566
	200,000		Albemarle Corp		4.150		12/01/24		219,771
	500,000		Amcor Finance USA, Inc		3.625		04/28/26		545,937
	400,000		Amcor Finance USA, Inc		4.500		05/15/28		457,061
	375,000		AngloGold Ashanti Holdings plc		3.750		10/01/30		379,141
	300,000		Avery Dennison Corp		4.875		12/06/28		349,599
	500,000		Avery Dennison Corp		2.650		04/30/30		502,764
	100,000		Barrick Australian Finance Pty Ltd		5.950		10/15/39		131,010
	2,250,000		Barrick Gold Corp		5.250		04/01/42		2,785,376
	500,000		Barrick North America Finance LLC		5.750		05/01/43		658,580
	100,000		Bemis Co, Inc		3.100		09/15/26		106,589
	200,000		Bemis Co, Inc		2.630		06/19/30		199,483
	625,000	g	Berry Global, Inc		0.950		02/15/24		622,056
	1,375,000	g	Berry Global, Inc		1.570		01/15/26		1,353,302
	825,000		BHP Billiton Finance USA Ltd		4.125		02/24/42		938,651
	1,925,000		BHP Billiton Finance USA Ltd		5.000		09/30/43		2,489,832
	200,000		Cabot Corp		3.700		07/15/22		206,057
	500,000		Cabot Corp		4.000		07/01/29		526,012
	400,000		Celulosa Arauco y Constitucion S.A.		4.500		08/01/24		433,504
	375,000		Celulosa Arauco y Constitucion S.A.		3.875		11/02/27		403,822
	200,000		Celulosa Arauco y Constitucion S.A.		5.500		11/02/47		232,000
	200,000		Domtar Corp		4.400		04/01/22		205,444
	1,008,000		Dow Chemical Co		3.500		10/01/24		1,087,440
	200,000		Dow Chemical Co		4.550		11/30/25		226,899
	750,000		Dow Chemical Co		3.625		05/15/26		823,287
	300,000		Dow Chemical Co		4.800		11/30/28		351,824
	175,000		Dow Chemical Co		7.375		11/01/29		237,083
	1,000,000	e	Dow Chemical Co		2.100		11/15/30		963,904
	1,400,000		Dow Chemical Co		4.250		10/01/34		1,549,710
	225,000		Dow Chemical Co		9.400		05/15/39		380,495
	275,000		Dow Chemical Co		5.250		11/15/41		344,516
	1,200,000		Dow Chemical Co		4.375		11/15/42		1,361,873
	400,000		Dow Chemical Co		4.625		10/01/44		465,516
	825,000		Dow Chemical Co		5.550		11/30/48		1,084,614
	750,000		Dow Chemical Co		4.800		05/15/49		896,701
	1,000,000		Dow Chemical Co		3.600		11/15/50		1,008,263
	2,050,000		DowDuPont, Inc		4.205		11/15/23		2,226,906
	1,600,000		DowDuPont, Inc		4.493		11/15/25		1,808,246
	2,300,000		DowDuPont, Inc		4.725		11/15/28		2,673,279
	150,000		DowDuPont, Inc		5.319		11/15/38		188,417
	2,325,000		DowDuPont, Inc		5.419		11/15/48		2,997,062
	100,000		Eastman Chemical Co		3.500		12/01/21		102,035
	272,000		Eastman Chemical Co		3.600		08/15/22		281,366
	727,000		Eastman Chemical Co		3.800		03/15/25		790,187
	700,000		Eastman Chemical Co		4.500		12/01/28		801,776
	150,000		Eastman Chemical Co		4.800		09/01/42		178,221
	525,000		Eastman Chemical Co		4.650		10/15/44		608,288
	300,000		Ecolab, Inc		2.375		08/10/22		307,673
	200,000		Ecolab, Inc		3.250		01/14/23		208,631
	750,000		Ecolab, Inc		2.700		11/01/26		799,030

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	300,000	Ecolab, Inc		3.250	%	12/01/27	$	326,268
	575,000	Ecolab, Inc		4.800		03/24/30		687,829
	1,000,000	Ecolab, Inc		1.300		01/30/31		918,643
	14,000	Ecolab, Inc		5.500		12/08/41		18,275
	710,000	Ecolab, Inc		3.950		12/01/47		797,592
	150,000	Ecolab, Inc		2.125		08/15/50		121,916
	350,000	EI du Pont de Nemours and Co		1.700		07/15/25		355,830
	175,000	EI du Pont de Nemours and Co		2.300		07/15/30		175,278
	700,000	Fibria Overseas Finance Ltd		5.500		01/17/27		798,007
	100,000	FMC Corp		3.950		02/01/22		102,049
	200,000	FMC Corp		4.100		02/01/24		215,916
	500,000	FMC Corp		3.200		10/01/26		537,187
	500,000	FMC Corp		3.450		10/01/29		526,363
	500,000	FMC Corp		4.500		10/01/49		560,547
	300,000	Georgia-Pacific LLC		8.000		01/15/24		359,437
	750,000	Georgia-Pacific LLC		7.750		11/15/29		1,055,314
	600,000	Huntsman International LLC		4.500		05/01/29		664,311
	300,000	International Flavors & Fragrances, Inc		3.200		05/01/23		313,815
	100,000	International Flavors & Fragrances, Inc		4.450		09/26/28		113,348
	200,000	International Flavors & Fragrances, Inc		4.375		06/01/47		224,785
	675,000	International Flavors & Fragrances, Inc		5.000		09/26/48		832,035
	450,000	International Paper Co		6.000		11/15/41		610,394
	525,000	International Paper Co		4.800		06/15/44		628,893
	300,000	International Paper Co		4.400		08/15/47		351,049
	2,425,000	International Paper Co		4.350		08/15/48		2,802,784
	1,000,000	Kinross Gold Corp		4.500		07/15/27		1,126,331
	150,000	Lubrizol Corp		6.500		10/01/34		210,852
	300,000	LYB International Finance BV		4.000		07/15/23		322,547
	1,000,000	LYB International Finance BV		3.500		03/02/27		1,080,748
	575,000	LYB International Finance BV		5.250		07/15/43		699,165
	550,000	LYB International Finance BV		4.875		03/15/44		635,340
	500,000	LYB International Finance III LLC		2.875		05/01/25		527,790
	500,000	LYB International Finance III LLC		1.250		10/01/25		493,688
	500,000	LYB International Finance III LLC		3.375		05/01/30		530,215
	150,000	LYB International Finance III LLC		2.250		10/01/30		144,612
	150,000	LYB International Finance III LLC		3.375		10/01/40		148,342
	1,000,000	LYB International Finance III LLC		4.200		10/15/49		1,062,545
	750,000	LYB International Finance III LLC		4.200		05/01/50		806,275
	1,000,000	LYB International Finance III LLC		3.625		04/01/51		985,082
	500,000	LYB International Finance III LLC		3.800		10/01/60		488,080
	1,300,000	LyondellBasell Industries NV		5.750		04/15/24		1,467,967
	475,000	LyondellBasell Industries NV		4.625		02/26/55		528,145
	200,000	Martin Marietta Materials, Inc		4.250		07/02/24		219,213
	200,000	Martin Marietta Materials, Inc		3.450		06/01/27		218,066
	325,000	Martin Marietta Materials, Inc		3.500		12/15/27		355,809
	250,000	Martin Marietta Materials, Inc		2.500		03/15/30		248,647
	450,000	Martin Marietta Materials, Inc		4.250		12/15/47		497,996
	200,000	Mosaic Co		3.250		11/15/22		207,761
	1,000,000	Mosaic Co		4.250		11/15/23		1,080,031
	800,000	Mosaic Co		4.050		11/15/27		888,029
	300,000	Mosaic Co		5.450		11/15/33		360,126
	100,000	Mosaic Co		4.875		11/15/41		110,365
	600,000	Mosaic Co		5.625		11/15/43		746,620

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	100,000		NewMarket Corp		4.100	%	12/15/22	$	105,692
	1,000,000		NewMarket Corp		2.700		03/18/31		975,567
	250,000		Newmont Corp		2.250		10/01/30		243,534
	33,000		Newmont Goldcorp Corp		3.700		03/15/23		34,648
	1,300,000		Newmont Goldcorp Corp		2.800		10/01/29		1,336,044
	298,000		Newmont Goldcorp Corp		5.875		04/01/35		389,786
	235,000		Newmont Goldcorp Corp		6.250		10/01/39		322,024
	975,000		Newmont Goldcorp Corp		4.875		03/15/42		1,176,701
	300,000		Newmont Goldcorp Corp		5.450		06/09/44		389,660
	800,000		Nucor Corp		4.125		09/15/22		833,809
	275,000		Nucor Corp		2.000		06/01/25		282,122
	425,000		Nucor Corp		3.950		05/01/28		473,449
	3,150,000		Nucor Corp		2.700		06/01/30		3,217,681
	1,000,000	g	Nucor Corp		2.979		12/15/55		904,107
	150,000		Nutrien Ltd		3.150		10/01/22		154,816
	500,000		Nutrien Ltd		1.900		05/13/23		512,793
	200,000		Nutrien Ltd		3.500		06/01/23		210,745
	625,000		Nutrien Ltd		3.625		03/15/24		671,353
	425,000		Nutrien Ltd		3.375		03/15/25		456,901
	200,000		Nutrien Ltd		3.000		04/01/25		212,160
	700,000		Nutrien Ltd		4.000		12/15/26		784,551
	550,000		Nutrien Ltd		4.200		04/01/29		618,938
	500,000		Nutrien Ltd		2.950		05/13/30		517,415
	200,000		Nutrien Ltd		4.125		03/15/35		220,608
	200,000		Nutrien Ltd		5.625		12/01/40		256,065
	100,000		Nutrien Ltd		6.125		01/15/41		134,358
	200,000		Nutrien Ltd		4.900		06/01/43		235,521
	725,000		Nutrien Ltd		5.250		01/15/45		896,505
	1,050,000		Nutrien Ltd		5.000		04/01/49		1,312,368
	300,000		Nutrien Ltd		3.950		05/13/50		323,624
	500,000		Owens Corning		4.200		12/01/24		551,840
	300,000		Owens Corning		3.400		08/15/26		325,527
	500,000		Owens Corning		3.950		08/15/29		550,233
	300,000		Owens Corning		3.875		06/01/30		327,129
	525,000		Owens Corning		4.300		07/15/47		568,203
	350,000		Owens Corning		4.400		01/30/48		381,486
	250,000		Packaging Corp of America		4.500		11/01/23		272,280
	100,000		Packaging Corp of America		3.650		09/15/24		108,706
	550,000		Packaging Corp of America		3.400		12/15/27		599,953
	100,000		Packaging Corp of America		3.000		12/15/29		104,269
	500,000		Packaging Corp of America		4.050		12/15/49		556,169
	300,000		PPG Industries, Inc		3.200		03/15/23		313,941
	500,000		PPG Industries, Inc		2.400		08/15/24		524,216
	250,000		PPG Industries, Inc		1.200		03/15/26		245,013
	425,000		PPG Industries, Inc		3.750		03/15/28		474,363
	500,000		PPG Industries, Inc		2.550		06/15/30		505,531
	250,000		Praxair, Inc		2.200		08/15/22		255,062
	300,000		Praxair, Inc		2.650		02/05/25		317,470
	1,000,000		Praxair, Inc		3.200		01/30/26		1,088,493
	725,000		Praxair, Inc		1.100		08/10/30		659,267
	625,000		Praxair, Inc		3.550		11/07/42		671,008
	225,000		Praxair, Inc		2.000		08/10/50		177,687
	300,000		Reliance Steel & Aluminum Co		4.500		04/15/23		319,945
	500,000		Reliance Steel & Aluminum Co		1.300		08/15/25		493,783

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	500,000	Reliance Steel & Aluminum Co		2.150	%	08/15/30	$	479,815
	414,000	Rio Tinto Alcan, Inc		6.125		12/15/33		570,619
	3,250,000	Rio Tinto Finance USA Ltd		3.750		06/15/25		3,566,223
	350,000	Rio Tinto Finance USA Ltd		5.200		11/02/40		456,604
	1,400,000	Rio Tinto Finance USA plc		4.125		08/21/42		1,604,094
	200,000	Rohm & Haas Co		7.850		07/15/29		267,269
	300,000	RPM International, Inc		3.450		11/15/22		310,541
	100,000	RPM International, Inc		3.750		03/15/27		110,055
	300,000	RPM International, Inc		4.550		03/01/29		337,520
	100,000	RPM International, Inc		5.250		06/01/45		114,720
	200,000	RPM International, Inc		4.250		01/15/48		203,613
	225,000	Sherwin-Williams Co		4.200		01/15/22		229,562
	27,000	Sherwin-Williams Co		2.750		06/01/22		27,604
	200,000	Sherwin-Williams Co		3.450		08/01/25		217,277
	200,000	Sherwin-Williams Co		3.950		01/15/26		222,400
	925,000	Sherwin-Williams Co		3.450		06/01/27		1,009,525
	500,000	Sherwin-Williams Co		2.950		08/15/29		520,707
	500,000	Sherwin-Williams Co		2.300		05/15/30		492,436
	200,000	Sherwin-Williams Co		4.000		12/15/42		214,677
	900,000	Sherwin-Williams Co		4.500		06/01/47		1,051,399
	900,000	Sherwin-Williams Co		3.800		08/15/49		953,606
	500,000	Sherwin-Williams Co		3.300		05/15/50		493,411
	750,000	Sonoco Products Co		3.125		05/01/30		774,478
	150,000	Sonoco Products Co		5.750		11/01/40		185,012
	300,000	Southern Copper Corp		3.875		04/23/25		329,390
	100,000	Southern Copper Corp		7.500		07/27/35		141,826
	1,180,000	Southern Copper Corp		6.750		04/16/40		1,623,653
	1,500,000	Southern Copper Corp		5.875		04/23/45		1,962,286
	250,000	Steel Dynamics, Inc		2.800		12/15/24		264,373
	100,000	Steel Dynamics, Inc		2.400		06/15/25		104,225
	1,000,000	Steel Dynamics, Inc		1.650		10/15/27		979,078
	750,000	Steel Dynamics, Inc		3.450		04/15/30		800,649
	100,000	Steel Dynamics, Inc		3.250		01/15/31		105,833
	500,000	Steel Dynamics, Inc		3.250		10/15/50		466,581
	1,900,000	Suzano Austria GmbH		6.000		01/15/29		2,234,875
	1,000,000	Suzano Austria GmbH		3.750		01/15/31		1,028,770
	1,675,000	Teck Resources Ltd		6.250		07/15/41		2,061,574
	750,000	Vulcan Materials Co		4.500		04/01/25		838,877
	100,000	Vulcan Materials Co		3.900		04/01/27		112,177
	275,000	Vulcan Materials Co		3.500		06/01/30		294,869
	475,000	Vulcan Materials Co		4.500		06/15/47		537,539
	200,000	Vulcan Materials Co		4.700		03/01/48		235,145
	500,000	Westlake Chemical Corp		3.600		08/15/26		540,462
	1,000,000	Westlake Chemical Corp		3.375		06/15/30		1,034,381
	500,000	Westlake Chemical Corp		5.000		08/15/46		586,577
	200,000	Westlake Chemical Corp		4.375		11/15/47		216,970
	500,000	WestRock RKT LLC		4.900		03/01/22		519,508
	500,000	WestRock RKT LLC		4.000		03/01/23		526,533
	250,000	WRKCo, Inc		3.000		09/15/24		265,633
	425,000	WRKCo, Inc		3.750		03/15/25		463,774
	525,000	WRKCo, Inc		4.650		03/15/26		595,805
	300,000	WRKCo, Inc		3.375		09/15/27		326,525
	325,000	WRKCo, Inc		4.000		03/15/28		360,054

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	240,000		WRKCo, Inc		3.900	%	06/01/28	$	263,968
	950,000		WRKCo, Inc		4.900		03/15/29		1,109,206
	685,000		WRKCo, Inc		4.200		06/01/32		768,760
	400,000		WRKCo, Inc		3.000		06/15/33		405,274
	171,000		Yamana Gold, Inc		4.625		12/15/27		187,109
			TOTAL MATERIALS						136,650,618

MEDIA & ENTERTAINMENT - 1.2%
	475,000		Activision Blizzard, Inc		3.400		09/15/26		519,206
	300,000		Activision Blizzard, Inc		3.400		06/15/27		327,985
	250,000		Activision Blizzard, Inc		1.350		09/15/30		225,847
	300,000		Activision Blizzard, Inc		4.500		06/15/47		353,239
	1,100,000		Activision Blizzard, Inc		2.500		09/15/50		923,098
	150,000		Agree LP		2.900		10/01/30		151,077
	875,000		Alphabet, Inc		3.375		02/25/24		948,752
	675,000		Alphabet, Inc		0.450		08/15/25		663,705
	1,250,000		Alphabet, Inc		1.998		08/15/26		1,301,399
	1,000,000		Alphabet, Inc		0.800		08/15/27		957,512
	850,000		Alphabet, Inc		1.100		08/15/30		781,334
	1,000,000		Alphabet, Inc		1.900		08/15/40		863,947
	2,800,000		Alphabet, Inc		2.050		08/15/50		2,315,418
	1,100,000		Alphabet, Inc		2.250		08/15/60		897,643
	1,000,000		American Assets Trust LP		3.375		02/01/31		982,627
	750,000	g	Blackstone		3.650		07/14/23		782,003
	750,000	g	Blackstone		3.625		01/15/26		775,597
	1,000,000	g	Blackstone Secured Lending Fund		2.750		09/16/26		993,560
	1,000,000		Brown University in Providence in the State of Rhode Island and Providence Plant		2.924		09/01/50		1,016,290
	1,135,000		Charter Communications Operating LLC		4.464		07/23/22		1,183,753
	225,000		Charter Communications Operating LLC		4.500		02/01/24		246,092
	3,650,000		Charter Communications Operating LLC		4.908		07/23/25		4,137,811
	950,000		Charter Communications Operating LLC		3.750		02/15/28		1,028,735
	2,750,000		Charter Communications Operating LLC		4.200		03/15/28		3,031,288
	2,000,000		Charter Communications Operating LLC		2.800		04/01/31		1,973,777
	1,500,000		Charter Communications Operating LLC		2.300		02/01/32		1,394,130
	750,000		Charter Communications Operating LLC		6.384		10/23/35		971,244
	1,500,000		Charter Communications Operating LLC		5.375		04/01/38		1,767,974
	1,500,000		Charter Communications Operating LLC		3.500		06/01/41		1,422,574
	1,550,000		Charter Communications Operating LLC		6.484		10/23/45		2,018,118
	1,400,000		Charter Communications Operating LLC		5.375		05/01/47		1,625,123
	1,375,000		Charter Communications Operating LLC		5.750		04/01/48		1,671,639
	1,600,000		Charter Communications Operating LLC		5.125		07/01/49		1,800,114
	2,500,000		Charter Communications Operating LLC		4.800		03/01/50		2,681,788
	2,500,000		Charter Communications Operating LLC		3.700		04/01/51		2,338,261
	1,500,000		Charter Communications Operating LLC		3.900		06/01/52		1,440,180
	2,000,000		Charter Communications Operating LLC		3.850		04/01/61		1,833,500
	1,000,000		Children’s Health System of Texas		2.511		08/15/50		880,573
	250,000		Comcast Cable Communications Holdings, Inc		9.455		11/15/22		286,659
	850,000		Comcast Corp		3.000		02/01/24		907,077
	325,000		Comcast Corp		3.600		03/01/24		353,574
	2,025,000		Comcast Corp		3.700		04/15/24		2,211,559
	850,000		Comcast Corp		3.375		02/15/25		924,873
	2,500,000		Comcast Corp		3.100		04/01/25		2,700,468
	350,000		Comcast Corp		3.375		08/15/25		381,125

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	1,550,000		Comcast Corp		3.950	%	10/15/25	$	1,731,567
	1,950,000		Comcast Corp		3.150		03/01/26		2,116,824
	1,025,000		Comcast Corp		2.350		01/15/27		1,069,940
	1,450,000		Comcast Corp		3.300		02/01/27		1,582,166
	900,000		Comcast Corp		3.150		02/15/28		971,033
	2,675,000		Comcast Corp		4.150		10/15/28		3,061,357
	3,300,000		Comcast Corp		4.250		10/15/30		3,791,799
	1,950,000		Comcast Corp		1.950		01/15/31		1,878,051
	3,850,000		Comcast Corp		1.500		02/15/31		3,571,873
	1,925,000		Comcast Corp		4.250		01/15/33		2,222,636
	150,000		Comcast Corp		7.050		03/15/33		214,029
	200,000		Comcast Corp		4.200		08/15/34		229,010
	500,000		Comcast Corp		4.400		08/15/35		584,731
	175,000		Comcast Corp		6.500		11/15/35		247,463
	3,475,000		Comcast Corp		3.200		07/15/36		3,623,943
	175,000		Comcast Corp		6.950		08/15/37		260,391
	3,150,000		Comcast Corp		3.900		03/01/38		3,538,106
	1,425,000		Comcast Corp		4.600		10/15/38		1,720,101
	1,000,000		Comcast Corp		3.250		11/01/39		1,030,144
	3,800,000		Comcast Corp		3.750		04/01/40		4,169,376
	150,000		Comcast Corp		4.650		07/15/42		181,258
	175,000		Comcast Corp		4.750		03/01/44		215,082
	1,125,000		Comcast Corp		4.600		08/15/45		1,360,101
	1,275,000		Comcast Corp		3.400		07/15/46		1,318,414
	631,000		Comcast Corp		3.969		11/01/47		704,623
	1,500,000		Comcast Corp		4.000		03/01/48		1,676,415
	2,625,000		Comcast Corp		4.700		10/15/48		3,243,565
	1,407,000		Comcast Corp		3.999		11/01/49		1,578,625
	2,525,000		Comcast Corp		3.450		02/01/50		2,608,486
	425,000		Comcast Corp		2.800		01/15/51		389,687
	1,050,000		Comcast Corp		2.450		08/15/52		897,802
	3,600,000		Comcast Corp		4.950		10/15/58		4,710,098
	850,000		Comcast Corp		2.650		08/15/62		721,185
	485,000		Cottage Health Obligated Group		3.304		11/01/49		494,714
	750,000		DH Europe Finance II Sarl		2.050		11/15/22		769,011
	750,000		DH Europe Finance II Sarl		2.200		11/15/24		781,667
	300,000		DH Europe Finance II Sarl		2.600		11/15/29		306,644
	550,000		DH Europe Finance II Sarl		3.250		11/15/39		560,807
	1,000,000		DH Europe Finance II Sarl		3.400		11/15/49		1,012,486
	237,000		Discovery Communications LLC		2.950		03/20/23		247,610
	300,000		Discovery Communications LLC		3.800		03/13/24		323,079
	200,000		Discovery Communications LLC		3.900		11/15/24		218,829
	350,000		Discovery Communications LLC		3.450		03/15/25		375,715
	200,000		Discovery Communications LLC		3.950		06/15/25		218,946
	500,000		Discovery Communications LLC		4.900		03/11/26		569,765
	2,275,000		Discovery Communications LLC		3.950		03/20/28		2,485,101
	1,000,000		Discovery Communications LLC		4.125		05/15/29		1,104,497
	250,000		Discovery Communications LLC		3.625		05/15/30		267,532
	1,400,000		Discovery Communications LLC		5.200		09/20/47		1,659,793
	1,400,000		Discovery Communications LLC		5.300		05/15/49		1,675,151
	500,000		Discovery Communications LLC		4.650		05/15/50		551,353
	1,175,000	g	Discovery Communications LLC		4.000		09/15/55		1,156,570
	1,000,000		Electronic Arts, Inc		1.850		02/15/31		942,945

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	1,000,000		Electronic Arts, Inc		2.950	%	02/15/51	$	923,699
	500,000		Fox Corp		4.030		01/25/24		543,112
	500,000		Fox Corp		3.050		04/07/25		531,808
	2,250,000		Fox Corp		4.709		01/25/29		2,589,908
	500,000		Fox Corp		3.500		04/08/30		531,949
	1,500,000		Fox Corp		5.476		01/25/39		1,871,168
	650,000		Fox Corp		5.576		01/25/49		828,628
	500,000	g	GE Capital Funding LLC		3.450		05/15/25		540,590
	500,000	g	GE Capital Funding LLC		4.050		05/15/27		557,132
	3,500,000	g	GE Capital Funding LLC		4.400		05/15/30		3,962,534
	3,000,000	g	GE Capital Funding LLC		4.550		05/15/32		3,439,652
	550,000		Grupo Televisa SAB		6.625		03/18/25		651,686
	200,000		Grupo Televisa SAB		4.625		01/30/26		224,170
	1,100,000		Grupo Televisa SAB		5.000		05/13/45		1,207,657
	700,000		Grupo Televisa SAB		6.125		01/31/46		886,343
	500,000	e	Grupo Televisa SAB		5.250		05/24/49		571,362
	450,000		Interpublic Group of Cos, Inc		3.750		10/01/21		457,519
	100,000		Interpublic Group of Cos, Inc		4.200		04/15/24		109,857
	350,000		Interpublic Group of Cos, Inc		4.650		10/01/28		402,402
	500,000		Interpublic Group of Cos, Inc		4.750		03/30/30		578,292
	1,000,000		Interpublic Group of Cos, Inc		2.400		03/01/31		980,866
	1,000,000		Interpublic Group of Cos, Inc		3.375		03/01/41		971,910
	400,000		Interpublic Group of Cos, Inc		5.400		10/01/48		492,699
	445,000		Iowa Health System		3.665		02/15/50		473,280
	135,000		MedStar Health, Inc		3.626		08/15/49		138,135
	1,425,000		NBC Universal Media LLC		4.450		01/15/43		1,683,001
	700,000		Omnicom Group, Inc		3.625		05/01/22		724,105
	425,000		Omnicom Group, Inc		3.650		11/01/24		462,050
	1,050,000		Omnicom Group, Inc		3.600		04/15/26		1,150,622
	750,000		Omnicom Group, Inc		2.450		04/30/30		741,913
	325,000		Omnicom Group, Inc		4.200		06/01/30		365,741
	1,000,000		Rexford Industrial Realty LP		2.125		12/01/30		934,613
	750,000		Schlumberger Finance Canada Ltd		1.400		09/17/25		750,637
	500,000		Spectrum Health System Obligated Group		3.487		07/15/49		514,389
	1,000,000	h	STERIS Irish FinCo UnLtd Co		2.700		03/15/31		992,503
	1,000,000	h	STERIS Irish FinCo UnLtd Co		3.750		03/15/51		1,007,350
	500,000		Tencent Music Entertainment Group		1.375		09/03/25		489,640
	750,000		Tencent Music Entertainment Group		2.000		09/03/30		698,454
	1,075,000		Time Warner Cable LLC		6.550		05/01/37		1,413,620
	400,000		Time Warner Cable LLC		7.300		07/01/38		555,600
	500,000		Time Warner Cable LLC		6.750		06/15/39		669,893
	890,000		Time Warner Cable LLC		5.875		11/15/40		1,105,241
	475,000		Time Warner Cable LLC		5.500		09/01/41		562,191
	2,875,000		Time Warner Cable LLC		4.500		09/15/42		3,072,829
	325,000		Time Warner Entertainment Co LP		8.375		03/15/23		372,571
	300,000		Time Warner Entertainment Co LP		8.375		07/15/33		434,194
	200,000		Toledo Hospital		5.325		11/15/28		230,630
	450,000		Toledo Hospital		5.750		11/15/38		526,329
	200,000		Toledo Hospital		6.015		11/15/48		241,619
	2,248,000		ViacomCBS, Inc		3.875		04/01/24		2,421,197
	200,000		ViacomCBS, Inc		3.700		08/15/24		216,849
	300,000		ViacomCBS, Inc		3.500		01/15/25		322,033
	800,000		ViacomCBS, Inc		4.000		01/15/26		881,218
	650,000		ViacomCBS, Inc		2.900		01/15/27		683,219

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	200,000		ViacomCBS, Inc		3.375	%	02/15/28	$	212,538
	1,300,000		ViacomCBS, Inc		3.700		06/01/28		1,406,519
	500,000		ViacomCBS, Inc		4.200		06/01/29		555,827
	500,000		ViacomCBS, Inc		7.875		07/30/30		696,754
	500,000		ViacomCBS, Inc		4.950		01/15/31		589,687
	1,500,000		ViacomCBS, Inc		4.200		05/19/32		1,676,706
	150,000		ViacomCBS, Inc		6.875		04/30/36		206,728
	200,000		ViacomCBS, Inc		4.850		07/01/42		228,651
	2,179,000		ViacomCBS, Inc		4.375		03/15/43		2,351,282
	625,000		ViacomCBS, Inc		5.850		09/01/43		798,255
	200,000		ViacomCBS, Inc		4.900		08/15/44		231,523
	800,000		ViacomCBS, Inc		4.600		01/15/45		895,952
	1,000,000		ViacomCBS, Inc		4.950		05/19/50		1,172,156
	100,000		Walt Disney Co		2.450		03/04/22		102,007
	750,000		Walt Disney Co		1.750		08/30/24		774,517
	1,000,000		Walt Disney Co		3.350		03/24/25		1,082,433
	875,000		Walt Disney Co		3.150		09/17/25		946,216
	700,000		Walt Disney Co		3.700		10/15/25		771,805
	3,000,000		Walt Disney Co		1.750		01/13/26		3,068,453
	500,000		Walt Disney Co		3.000		02/13/26		537,965
	475,000		Walt Disney Co		1.850		07/30/26		485,721
	1,500,000	e	Walt Disney Co		2.950		06/15/27		1,608,223
	3,000,000		Walt Disney Co		2.200		01/13/28		3,065,496
	425,000		Walt Disney Co		2.000		09/01/29		419,736
	500,000		Walt Disney Co		3.800		03/22/30		557,304
	1,000,000		Walt Disney Co		2.650		01/13/31		1,020,735
	229,000		Walt Disney Co		6.400		12/15/35		322,390
	325,000		Walt Disney Co		6.650		11/15/37		475,969
	1,000,000		Walt Disney Co		3.500		05/13/40		1,057,390
	1,425,000		Walt Disney Co		6.150		02/15/41		2,066,751
	100,000		Walt Disney Co		4.375		08/16/41		116,997
	200,000		Walt Disney Co		3.700		12/01/42		216,587
	225,000		Walt Disney Co		5.400		10/01/43		299,120
	1,275,000		Walt Disney Co		4.125		06/01/44		1,448,938
	500,000		Walt Disney Co		4.750		09/15/44		621,020
	300,000		Walt Disney Co		4.950		10/15/45		380,222
	100,000		Walt Disney Co		3.000		07/30/46		96,278
	700,000		Walt Disney Co		4.750		11/15/46		876,126
	1,600,000		Walt Disney Co		2.750		09/01/49		1,464,873
	3,625,000		Walt Disney Co		4.700		03/23/50		4,542,776
	2,000,000		Walt Disney Co		3.600		01/13/51		2,128,028
	1,000,000		Walt Disney Co		3.800		05/13/60		1,100,625
	375,000		Weibo Corp		3.500		07/05/24		395,124
	900,000		Weibo Corp		3.375		07/08/30		895,321
	300,000		WPP Finance 2010		3.625		09/07/22		312,795
	1,500,000		WPP Finance 2010		3.750		09/19/24		1,633,054
			TOTAL MEDIA & ENTERTAINMENT						224,538,526

PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 1.5%
	3,000,000		AbbVie, Inc		2.150		11/19/21		3,033,778
	3,500,000		AbbVie, Inc		3.450		03/15/22		3,580,658
	175,000		AbbVie, Inc		3.250		10/01/22		181,007

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	625,000		AbbVie, Inc		2.900	%	11/06/22	$	648,194
	2,275,000		AbbVie, Inc		3.200		11/06/22		2,360,551
	850,000		AbbVie, Inc		2.850		05/14/23		886,618
	1,850,000		AbbVie, Inc		3.750		11/14/23		1,992,578
	2,350,000		AbbVie, Inc		3.800		03/15/25		2,567,468
	1,575,000		AbbVie, Inc		3.600		05/14/25		1,715,846
	4,150,000		AbbVie, Inc		3.200		05/14/26		4,483,309
	1,000,000		AbbVie, Inc		2.950		11/21/26		1,064,681
	675,000		AbbVie, Inc		4.250		11/14/28		769,180
	3,750,000		AbbVie, Inc		3.200		11/21/29		3,989,145
	2,250,000		AbbVie, Inc		4.550		03/15/35		2,612,881
	1,925,000		AbbVie, Inc		4.500		05/14/35		2,260,300
	675,000		AbbVie, Inc		4.300		05/14/36		778,141
	3,300,000		AbbVie, Inc		4.050		11/21/39		3,694,701
	2,175,000		AbbVie, Inc		4.400		11/06/42		2,527,986
	1,625,000		AbbVie, Inc		4.850		06/15/44		1,974,052
	1,310,000		AbbVie, Inc		4.750		03/15/45		1,563,131
	925,000		AbbVie, Inc		4.700		05/14/45		1,095,544
	1,350,000		AbbVie, Inc		4.450		05/14/46		1,555,428
	1,150,000		AbbVie, Inc		4.875		11/14/48		1,385,071
	4,975,000		AbbVie, Inc		4.250		11/21/49		5,629,391
	75,000		Agilent Technologies, Inc		3.200		10/01/22		77,480
	400,000		Agilent Technologies, Inc		3.875		07/15/23		426,302
	200,000		Agilent Technologies, Inc		3.050		09/22/26		213,801
	500,000		Agilent Technologies, Inc		2.750		09/15/29		511,931
	1,000,000		Agilent Technologies, Inc		2.100		06/04/30		978,257
	1,000,000		Agilent Technologies, Inc		2.300		03/12/31		973,733
	1,175,000		Amgen, Inc		3.625		05/15/22		1,203,427
	2,475,000		Amgen, Inc		2.250		08/19/23		2,566,234
	950,000		Amgen, Inc		3.625		05/22/24		1,025,546
	775,000		Amgen, Inc		3.125		05/01/25		832,896
	1,225,000		Amgen, Inc		2.600		08/19/26		1,287,413
	1,250,000		Amgen, Inc		2.200		02/21/27		1,282,303
	775,000		Amgen, Inc		3.200		11/02/27		839,316
	1,000,000		Amgen, Inc		2.450		02/21/30		1,006,926
	500,000		Amgen, Inc		2.300		02/25/31		492,950
	1,325,000		Amgen, Inc		3.150		02/21/40		1,314,714
	126,000		Amgen, Inc		5.150		11/15/41		158,695
	2,675,000		Amgen, Inc		4.400		05/01/45		3,096,972
	2,128,000		Amgen, Inc		4.563		06/15/48		2,534,736
	2,575,000		Amgen, Inc		3.375		02/21/50		2,573,912
	2,447,000		Amgen, Inc		4.663		06/15/51		2,967,531
	172,000	g	Amgen, Inc		2.770		09/01/53		152,099
	725,000		AstraZeneca plc		2.375		06/12/22		740,944
	475,000		AstraZeneca plc		3.500		08/17/23		506,147
	350,000		AstraZeneca plc		3.375		11/16/25		380,992
	1,000,000		AstraZeneca plc		0.700		04/08/26		963,130
	950,000		AstraZeneca plc		3.125		06/12/27		1,022,358
	1,700,000		AstraZeneca plc		4.000		01/17/29		1,907,466
	1,000,000		AstraZeneca plc		1.375		08/06/30		917,223
	1,900,000		AstraZeneca plc		6.450		09/15/37		2,705,466
	625,000		AstraZeneca plc		4.000		09/18/42		695,490
	500,000		AstraZeneca plc		4.375		11/16/45		580,281
	750,000		AstraZeneca plc		4.375		08/17/48		877,291

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	600,000		AstraZeneca plc		2.125	%	08/06/50	$	480,649
	449,000		Baxalta, Inc		4.000		06/23/25		497,689
	149,000		Baxalta, Inc		5.250		06/23/45		192,110
	650,000		Biogen, Inc		3.625		09/15/22		679,361
	875,000		Biogen, Inc		4.050		09/15/25		972,094
	300,000		Biogen, Inc		2.250		05/01/30		291,032
	1,375,000		Biogen, Inc		3.150		05/01/50		1,262,744
	1,346,000	g	Biogen, Inc		3.250		02/15/51		1,255,800
	2,000,000		Bristol-Myers Squibb Co		2.600		05/16/22		2,051,360
	200,000		Bristol-Myers Squibb Co		2.000		08/01/22		204,215
	550,000		Bristol-Myers Squibb Co		3.250		08/15/22		571,836
	600,000		Bristol-Myers Squibb Co		2.750		02/15/23		625,691
	1,684,000		Bristol-Myers Squibb Co		3.250		02/20/23		1,767,064
	200,000		Bristol-Myers Squibb Co		3.250		11/01/23		214,142
	1,000,000		Bristol-Myers Squibb Co		0.537		11/13/23		999,889
	5,350,000		Bristol-Myers Squibb Co		2.900		07/26/24		5,716,249
	600,000		Bristol-Myers Squibb Co		3.875		08/15/25		667,197
	1,000,000		Bristol-Myers Squibb Co		0.750		11/13/25		985,044
	500,000		Bristol-Myers Squibb Co		3.250		02/27/27		545,405
	1,000,000		Bristol-Myers Squibb Co		1.125		11/13/27		966,842
	1,275,000		Bristol-Myers Squibb Co		3.900		02/20/28		1,434,241
	2,825,000		Bristol-Myers Squibb Co		3.400		07/26/29		3,087,202
	1,150,000		Bristol-Myers Squibb Co		1.450		11/13/30		1,074,412
	700,000		Bristol-Myers Squibb Co		4.125		06/15/39		814,191
	125,000		Bristol-Myers Squibb Co		2.350		11/13/40		113,699
	650,000		Bristol-Myers Squibb Co		3.250		08/01/42		669,940
	200,000		Bristol-Myers Squibb Co		4.500		03/01/44		243,534
	3,200,000		Bristol-Myers Squibb Co		5.000		08/15/45		4,114,539
	500,000		Bristol-Myers Squibb Co		4.350		11/15/47		594,839
	2,300,000		Bristol-Myers Squibb Co		4.550		02/20/48		2,804,273
	2,400,000		Bristol-Myers Squibb Co		4.250		10/26/49		2,826,900
	1,500,000		Bristol-Myers Squibb Co		2.550		11/13/50		1,333,068
	175,000		Eli Lilly & Co		2.350		05/15/22		179,055
	975,000		Eli Lilly & Co		2.750		06/01/25		1,037,326
	950,000		Eli Lilly & Co		3.100		05/15/27		1,031,700
	650,000		Eli Lilly & Co		3.875		03/15/39		742,417
	550,000		Eli Lilly & Co		3.700		03/01/45		593,887
	1,025,000		Eli Lilly & Co		3.950		03/15/49		1,158,770
	1,300,000		Eli Lilly & Co		2.250		05/15/50		1,098,752
	875,000		Eli Lilly & Co		4.150		03/15/59		1,034,217
	750,000		Eli Lilly & Co		2.500		09/15/60		634,702
	1,150,000		Gilead Sciences, Inc		4.400		12/01/21		1,168,635
	700,000		Gilead Sciences, Inc		3.250		09/01/22		724,140
	500,000		Gilead Sciences, Inc		2.500		09/01/23		520,982
	850,000		Gilead Sciences, Inc		0.750		09/29/23		850,987
	800,000		Gilead Sciences, Inc		3.700		04/01/24		861,651
	575,000		Gilead Sciences, Inc		3.500		02/01/25		624,580
	1,125,000		Gilead Sciences, Inc		3.650		03/01/26		1,235,910
	525,000		Gilead Sciences, Inc		2.950		03/01/27		558,179
	325,000		Gilead Sciences, Inc		1.200		10/01/27		311,590
	2,815,000		Gilead Sciences, Inc		1.650		10/01/30		2,641,943
	450,000		Gilead Sciences, Inc		4.600		09/01/35		530,000
	1,300,000		Gilead Sciences, Inc		4.000		09/01/36		1,425,270

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	325,000	Gilead Sciences, Inc		2.600	%	10/01/40	$	298,649
	250,000	Gilead Sciences, Inc		5.650		12/01/41		332,369
	1,025,000	Gilead Sciences, Inc		4.800		04/01/44		1,232,267
	950,000	Gilead Sciences, Inc		4.500		02/01/45		1,103,384
	925,000	Gilead Sciences, Inc		4.750		03/01/46		1,118,058
	1,525,000	Gilead Sciences, Inc		4.150		03/01/47		1,695,587
	2,600,000	Gilead Sciences, Inc		2.800		10/01/50		2,310,838
	1,193,000	GlaxoSmithKline Capital plc		2.850		05/08/22		1,226,228
	500,000	GlaxoSmithKline Capital plc		2.875		06/01/22		512,985
	1,550,000	GlaxoSmithKline Capital plc		0.534		10/01/23		1,552,093
	2,900,000	GlaxoSmithKline Capital plc		3.375		06/01/29		3,151,498
	900,000	GlaxoSmithKline Capital, Inc		2.800		03/18/23		941,848
	950,000	GlaxoSmithKline Capital, Inc		3.625		05/15/25		1,044,604
	925,000	GlaxoSmithKline Capital, Inc		3.875		05/15/28		1,046,623
	350,000	GlaxoSmithKline Capital, Inc		5.375		04/15/34		462,434
	1,243,000	GlaxoSmithKline Capital, Inc		6.375		05/15/38		1,820,577
	850,000	GlaxoSmithKline Capital, Inc		4.200		03/18/43		1,000,148
	1,500,000	Illumina, Inc		2.550		03/23/31		1,487,105
	300,000	Johnson & Johnson		2.050		03/01/23		308,548
	950,000	Johnson & Johnson		3.375		12/05/23		1,028,683
	2,000,000	Johnson & Johnson		0.550		09/01/25		1,983,462
	1,000,000	Johnson & Johnson		2.450		03/01/26		1,064,013
	2,000,000	Johnson & Johnson		0.950		09/01/27		1,943,787
	2,000,000	Johnson & Johnson		1.300		09/01/30		1,880,216
	1,000,000	Johnson & Johnson		4.375		12/05/33		1,210,623
	250,000	Johnson & Johnson		3.550		03/01/36		279,175
	450,000	Johnson & Johnson		3.625		03/03/37		507,978
	250,000	Johnson & Johnson		5.950		08/15/37		352,656
	675,000	Johnson & Johnson		3.400		01/15/38		740,274
	375,000	Johnson & Johnson		5.850		07/15/38		524,170
	1,000,000	Johnson & Johnson		2.100		09/01/40		903,514
	300,000	Johnson & Johnson		4.500		12/05/43		372,335
	1,200,000	Johnson & Johnson		3.700		03/01/46		1,340,985
	1,625,000	Johnson & Johnson		3.750		03/03/47		1,823,135
	2,100,000	Johnson & Johnson		3.500		01/15/48		2,306,571
	500,000	Johnson & Johnson		2.250		09/01/50		444,831
	1,000,000	Johnson & Johnson		2.450		09/01/60		886,074
	750,000	Merck & Co, Inc		2.350		02/10/22		763,394
	200,000	Merck & Co, Inc		2.400		09/15/22		204,917
	1,300,000	Merck & Co, Inc		2.800		05/18/23		1,368,457
	1,450,000	Merck & Co, Inc		2.750		02/10/25		1,545,627
	2,875,000	Merck & Co, Inc		0.750		02/24/26		2,837,444
	3,175,000	Merck & Co, Inc		1.450		06/24/30		3,024,814
	1,475,000	Merck & Co, Inc		3.900		03/07/39		1,680,705
	425,000	Merck & Co, Inc		2.350		06/24/40		393,398
	100,000	Merck & Co, Inc		3.600		09/15/42		108,503
	925,000	Merck & Co, Inc		4.150		05/18/43		1,086,152
	1,825,000	Merck & Co, Inc		3.700		02/10/45		2,009,334
	1,600,000	Merck & Co, Inc		4.000		03/07/49		1,848,848
	375,000	Merck & Co, Inc		2.450		06/24/50		330,723
	1,175,000	Mylan NV		3.150		06/15/21		1,178,710
	2,800,000	Mylan NV		3.950		06/15/26		3,084,174
	750,000	Mylan NV		5.250		06/15/46		882,213
	500,000	Mylan, Inc		4.550		04/15/28		564,648

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	700,000		Mylan, Inc		5.200	%	04/15/48	$	805,090
	725,000		Novartis Capital Corp		2.400		09/21/22		748,249
	2,300,000		Novartis Capital Corp		3.400		05/06/24		2,491,501
	725,000		Novartis Capital Corp		3.000		11/20/25		782,654
	3,500,000		Novartis Capital Corp		2.000		02/14/27		3,610,927
	1,300,000		Novartis Capital Corp		3.100		05/17/27		1,412,956
	1,000,000		Novartis Capital Corp		2.200		08/14/30		1,006,567
	400,000		Novartis Capital Corp		3.700		09/21/42		444,576
	1,025,000		Novartis Capital Corp		4.400		05/06/44		1,248,552
	1,000,000		Novartis Capital Corp		4.000		11/20/45		1,153,188
	750,000		Novartis Capital Corp		2.750		08/14/50		711,858
	500,000	e	PerkinElmer, Inc		3.300		09/15/29		527,405
	1,000,000		PerkinElmer, Inc		2.550		03/15/31		990,706
	1,000,000		PerkinElmer, Inc		3.625		03/15/51		1,023,051
	100,000		Perrigo Co plc		4.000		11/15/23		105,586
	100,000		Perrigo Co plc		5.300		11/15/43		99,266
	200,000		Perrigo Finance Unlimited Co		3.900		12/15/24		212,654
	200,000		Perrigo Finance Unlimited Co		4.375		03/15/26		216,950
	200,000		Perrigo Finance Unlimited Co		3.150		06/15/30		196,383
	221,000		Perrigo Finance Unlimited Co		4.900		12/15/44		215,791
	500,000		Pfizer, Inc		3.000		09/15/21		506,204
	1,075,000		Pfizer, Inc		3.000		06/15/23		1,132,984
	1,175,000		Pfizer, Inc		3.400		05/15/24		1,274,450
	3,000,000		Pfizer, Inc		0.800		05/28/25		2,977,979
	350,000		Pfizer, Inc		2.750		06/03/26		376,321
	2,850,000		Pfizer, Inc		3.000		12/15/26		3,098,409
	950,000		Pfizer, Inc		3.600		09/15/28		1,051,693
	1,550,000		Pfizer, Inc		3.450		03/15/29		1,701,160
	425,000		Pfizer, Inc		4.000		12/15/36		488,380
	500,000		Pfizer, Inc		4.100		09/15/38		580,872
	875,000		Pfizer, Inc		3.900		03/15/39		994,846
	350,000		Pfizer, Inc		7.200		03/15/39		548,598
	1,250,000		Pfizer, Inc		2.550		05/28/40		1,191,484
	625,000		Pfizer, Inc		4.300		06/15/43		727,506
	1,100,000		Pfizer, Inc		4.400		05/15/44		1,307,483
	1,875,000		Pfizer, Inc		4.125		12/15/46		2,180,247
	1,200,000		Pfizer, Inc		4.200		09/15/48		1,415,644
	2,100,000		Pfizer, Inc		4.000		03/15/49		2,435,282
	1,000,000		Pfizer, Inc		2.700		05/28/50		936,323
	1,000,000		Regeneron Pharmaceuticals, Inc		1.750		09/15/30		924,823
	500,000		Regeneron Pharmaceuticals, Inc		2.800		09/15/50		433,329
	1,000,000	g	Royalty Pharma plc		0.750		09/02/23		999,007
	1,000,000	g	Royalty Pharma plc		1.200		09/02/25		979,316
	1,000,000	g	Royalty Pharma plc		1.750		09/02/27		971,090
	375,000	g	Royalty Pharma plc		2.200		09/02/30		357,859
	1,000,000	g	Royalty Pharma plc		3.300		09/02/40		964,000
	1,000,000	g	Royalty Pharma plc		3.550		09/02/50		952,950
	1,750,000		Sanofi		3.375		06/19/23		1,865,418
	500,000		Sanofi		3.625		06/19/28		557,163
	1,000,000		Takeda Pharmaceutical Co Ltd		4.400		11/26/23		1,092,977
	2,100,000		Takeda Pharmaceutical Co Ltd		5.000		11/26/28		2,485,283
	700,000		Takeda Pharmaceutical Co Ltd		2.050		03/31/30		674,652
	2,050,000		Takeda Pharmaceutical Co Ltd		3.025		07/09/40		1,982,689

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	1,150,000		Takeda Pharmaceutical Co Ltd		3.175	%	07/09/50	$	1,098,360
	1,000,000		Takeda Pharmaceutical Co Ltd		3.375		07/09/60		959,949
	150,000		Thermo Fisher Scientific, Inc		3.650		12/15/25		164,870
	975,000		Thermo Fisher Scientific, Inc		2.950		09/19/26		1,043,892
	2,150,000		Thermo Fisher Scientific, Inc		3.200		08/15/27		2,329,405
	1,500,000		Thermo Fisher Scientific, Inc		2.600		10/01/29		1,537,771
	200,000		Thermo Fisher Scientific, Inc		5.300		02/01/44		264,474
	200,000		Thermo Fisher Scientific, Inc		4.100		08/15/47		232,109
	375,000	g	Viatris, Inc		1.125		06/22/22		377,036
	1,000,000	g	Viatris, Inc		1.650		06/22/25		1,003,532
	400,000	g	Viatris, Inc		2.300		06/22/27		403,352
	375,000	g	Viatris, Inc		2.700		06/22/30		370,306
	600,000	g	Viatris, Inc		3.850		06/22/40		614,017
	1,950,000	g	Viatris, Inc		4.000		06/22/50		1,987,150
	1,000,000		Wyeth LLC		6.450		02/01/24		1,160,167
	150,000		Wyeth LLC		6.500		02/01/34		214,772
	275,000		Wyeth LLC		5.950		04/01/37		382,609
	1,000,000		Zoetis, Inc		3.250		02/01/23		1,042,133
	300,000		Zoetis, Inc		4.500		11/13/25		340,038
	425,000		Zoetis, Inc		3.000		09/12/27		454,795
	500,000		Zoetis, Inc		3.900		08/20/28		555,988
	900,000		Zoetis, Inc		4.700		02/01/43		1,085,951
	650,000		Zoetis, Inc		3.950		09/12/47		718,725
	200,000		Zoetis, Inc		4.450		08/20/48		238,982
	375,000		Zoetis, Inc		3.000		05/15/50		357,073
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						291,443,718

REAL ESTATE - 1.0%
	100,000		Alexandria Real Estate Equities, Inc		3.450		04/30/25		108,410
	200,000		Alexandria Real Estate Equities, Inc		4.300		01/15/26		223,304
	500,000		Alexandria Real Estate Equities, Inc		3.800		04/15/26		551,743
	200,000		Alexandria Real Estate Equities, Inc		4.500		07/30/29		229,945
	425,000		Alexandria Real Estate Equities, Inc		2.750		12/15/29		433,555
	100,000		Alexandria Real Estate Equities, Inc		4.700		07/01/30		116,571
	275,000		Alexandria Real Estate Equities, Inc		3.375		08/15/31		289,981
	1,500,000		Alexandria Real Estate Equities, Inc		2.000		05/18/32		1,393,460
	450,000		Alexandria Real Estate Equities, Inc		1.875		02/01/33		409,141
	500,000		Alexandria Real Estate Equities, Inc		4.850		04/15/49		598,486
	700,000		Alexandria Real Estate Equities, Inc		4.000		02/01/50		746,814
	1,000,000		Alexandria Real Estate Equities, Inc		3.000		05/18/51		910,421
	100,000		American Campus Communities Operating Partnership LP		3.750		04/15/23		105,681
	500,000		American Campus Communities Operating Partnership LP		3.300		07/15/26		537,257
	200,000		American Campus Communities Operating Partnership LP		3.625		11/15/27		218,490
	500,000		American Campus Communities Operating Partnership LP		2.850		02/01/30		500,432
	500,000		American Homes 4 Rent LP		4.900		02/15/29		571,109
	725,000		American Tower Corp		2.250		01/15/22		735,124
	200,000		American Tower Corp		4.700		03/15/22		208,119
	800,000		American Tower Corp		3.500		01/31/23		841,781
	1,500,000		American Tower Corp		0.600		01/15/24		1,497,527
	450,000		American Tower Corp		5.000		02/15/24		502,116

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	350,000		American Tower Corp		3.375	%	05/15/24	$	375,241
	750,000		American Tower Corp		2.400		03/15/25		782,449
	525,000		American Tower Corp		4.000		06/01/25		577,697
	1,350,000		American Tower Corp		1.300		09/15/25		1,344,181
	200,000		American Tower Corp		4.400		02/15/26		225,319
	1,000,000		American Tower Corp		1.600		04/15/26		1,002,280
	425,000		American Tower Corp		3.375		10/15/26		459,614
	750,000		American Tower Corp		2.750		01/15/27		782,881
	500,000		American Tower Corp		3.125		01/15/27		531,744
	150,000		American Tower Corp		3.550		07/15/27		162,670
	500,000		American Tower Corp		3.600		01/15/28		539,873
	875,000		American Tower Corp		1.500		01/31/28		834,490
	350,000		American Tower Corp		3.950		03/15/29		385,302
	750,000		American Tower Corp		2.900		01/15/30		762,414
	750,000		American Tower Corp		2.100		06/15/30		713,695
	725,000		American Tower Corp		1.875		10/15/30		678,249
	1,000,000		American Tower Corp		2.700		04/15/31		1,001,130
	1,350,000		American Tower Corp		3.700		10/15/49		1,364,548
	425,000		American Tower Corp		3.100		06/15/50		390,690
	775,000		American Tower Corp		2.950		01/15/51		685,151
	225,000		AvalonBay Communities, Inc		2.950		09/15/22		231,602
	200,000		AvalonBay Communities, Inc		3.500		11/15/24		217,452
	200,000		AvalonBay Communities, Inc		2.950		05/11/26		214,205
	100,000		AvalonBay Communities, Inc		2.900		10/15/26		106,225
	1,200,000		AvalonBay Communities, Inc		3.350		05/15/27		1,302,811
	200,000	e	AvalonBay Communities, Inc		3.200		01/15/28		212,094
	750,000		AvalonBay Communities, Inc		3.300		06/01/29		795,866
	750,000		AvalonBay Communities, Inc		2.300		03/01/30		741,487
	400,000		AvalonBay Communities, Inc		4.150		07/01/47		451,943
	200,000		AvalonBay Communities, Inc		4.350		04/15/48		232,012
	275,000		Boston Properties LP		3.850		02/01/23		288,952
	425,000		Boston Properties LP		3.125		09/01/23		447,411
	200,000		Boston Properties LP		3.800		02/01/24		215,296
	1,500,000		Boston Properties LP		3.200		01/15/25		1,603,897
	275,000		Boston Properties LP		3.650		02/01/26		300,172
	700,000		Boston Properties LP		2.750		10/01/26		737,659
	550,000		Boston Properties LP		4.500		12/01/28		622,908
	550,000		Boston Properties LP		3.400		06/21/29		577,793
	750,000		Boston Properties LP		2.900		03/15/30		756,709
	1,000,000		Boston Properties LP		3.250		01/30/31		1,035,245
	2,000,000		Boston Properties LP		2.550		04/01/32		1,917,356
	100,000		Brandywine Operating Partnership LP		3.950		02/15/23		104,520
	500,000		Brandywine Operating Partnership LP		4.100		10/01/24		539,534
	100,000		Brandywine Operating Partnership LP		3.950		11/15/27		106,191
	500,000		Brandywine Operating Partnership LP		4.550		10/01/29		529,794
	350,000		Brixmor Operating Partnership LP		3.250		09/15/23		369,769
	900,000		Brixmor Operating Partnership LP		3.650		06/15/24		968,398
	200,000		Brixmor Operating Partnership LP		3.850		02/01/25		216,390
	225,000		Brixmor Operating Partnership LP		4.125		06/15/26		248,431
	300,000		Brixmor Operating Partnership LP		3.900		03/15/27		327,521
	100,000		Brixmor Operating Partnership LP		2.250		04/01/28		98,121
	600,000		Brixmor Operating Partnership LP		4.125		05/15/29		647,733
	940,000		Brixmor Operating Partnership LP		4.050		07/01/30		1,012,531

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	200,000	Camden Property Trust		2.950	%	12/15/22	$	207,110
	100,000	Camden Property Trust		4.100		10/15/28		112,097
	325,000	Camden Property Trust		3.150		07/01/29		343,707
	100,000	Camden Property Trust		2.800		05/15/30		102,582
	500,000	Camden Property Trust		3.350		11/01/49		507,185
	500,000	CBRE Services, Inc		4.875		03/01/26		574,379
	1,000,000	CBRE Services, Inc		2.500		04/01/31		969,187
	1,225,000	CC Holdings GS V LLC		3.849		04/15/23		1,304,301
	400,000	Columbia Property Trust Operating Partnership LP		3.650		08/15/26		413,947
	300,000	Corporate Office Properties LP		5.000		07/01/25		337,744
	1,000,000	Corporate Office Properties LP		2.250		03/15/26		1,016,171
	175,000	Corporate Office Properties LP		2.750		04/15/31		169,221
	1,375,000	Crown Castle International Corp		3.150		07/15/23		1,456,303
	500,000	Crown Castle International Corp		3.200		09/01/24		536,933
	1,000,000	Crown Castle International Corp		1.350		07/15/25		997,907
	975,000	Crown Castle International Corp		4.450		02/15/26		1,098,027
	250,000	Crown Castle International Corp		3.700		06/15/26		273,483
	1,500,000	Crown Castle International Corp		1.050		07/15/26		1,452,340
	100,000	Crown Castle International Corp		4.000		03/01/27		110,736
	525,000	Crown Castle International Corp		3.650		09/01/27		572,111
	775,000	Crown Castle International Corp		3.800		02/15/28		844,272
	300,000	Crown Castle International Corp		4.300		02/15/29		336,274
	500,000	Crown Castle International Corp		3.100		11/15/29		516,099
	275,000	Crown Castle International Corp		3.300		07/01/30		287,855
	1,050,000	Crown Castle International Corp		2.250		01/15/31		1,009,205
	1,500,000	Crown Castle International Corp		2.100		04/01/31		1,416,263
	1,000,000	Crown Castle International Corp		2.900		04/01/41		919,998
	200,000	Crown Castle International Corp		4.750		05/15/47		228,456
	300,000	Crown Castle International Corp		5.200		02/15/49		366,598
	500,000	Crown Castle International Corp		4.000		11/15/49		519,421
	200,000	Crown Castle International Corp		4.150		07/01/50		214,768
	875,000	Crown Castle International Corp		3.250		01/15/51		805,414
	100,000	CubeSmart LP		4.375		12/15/23		108,744
	200,000	CubeSmart LP		3.125		09/01/26		212,641
	100,000	CubeSmart LP		4.375		02/15/29		111,345
	250,000	CubeSmart LP		3.000		02/15/30		253,906
	450,000	CubeSmart LP		2.000		02/15/31		421,159
	250,000	CyrusOne LP		2.900		11/15/24		264,130
	750,000	CyrusOne LP		3.450		11/15/29		771,007
	200,000	Digital Realty Trust LP		4.750		10/01/25		227,348
	475,000	Digital Realty Trust LP		3.700		08/15/27		523,639
	300,000	Digital Realty Trust LP		4.450		07/15/28		339,351
	1,000,000	Digital Realty Trust LP		3.600		07/01/29		1,074,520
	100,000	Duke Realty LP		3.750		12/01/24		109,335
	100,000	Duke Realty LP		3.250		06/30/26		108,094
	1,000,000	Duke Realty LP		3.375		12/15/27		1,092,355
	100,000	Duke Realty LP		4.000		09/15/28		110,923
	225,000	Duke Realty LP		2.875		11/15/29		230,902
	200,000	Duke Realty LP		1.750		07/01/30		186,192
	1,000,000	Duke Realty LP		1.750		02/01/31		928,870
	500,000	Duke Realty LP		3.050		03/01/50		457,585
	1,000,000	Equinix, Inc		2.625		11/18/24		1,053,670
	1,000,000	Equinix, Inc		1.250		07/15/25		991,625
	525,000	Equinix, Inc		1.000		09/15/25		515,518

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	650,000		Equinix, Inc		2.900	%	11/18/26	$	685,534
	200,000		Equinix, Inc		1.800		07/15/27		196,320
	800,000		Equinix, Inc		1.550		03/15/28		764,451
	1,000,000		Equinix, Inc		3.200		11/18/29		1,039,645
	175,000		Equinix, Inc		2.150		07/15/30		166,380
	500,000		Equinix, Inc		3.000		07/15/50		440,660
	1,000,000	e	Equinix, Inc		2.950		09/15/51		880,361
	200,000		ERP Operating LP		4.625		12/15/21		203,714
	700,000		ERP Operating LP		3.375		06/01/25		758,487
	200,000		ERP Operating LP		2.850		11/01/26		213,037
	1,150,000		ERP Operating LP		3.250		08/01/27		1,242,931
	500,000		ERP Operating LP		3.500		03/01/28		540,200
	200,000		ERP Operating LP		4.150		12/01/28		224,785
	750,000		ERP Operating LP		3.000		07/01/29		780,499
	300,000		ERP Operating LP		2.500		02/15/30		301,049
	425,000		ERP Operating LP		4.500		07/01/44		500,573
	100,000		ERP Operating LP		4.000		08/01/47		109,414
	100,000		Essex Portfolio LP		3.250		05/01/23		104,650
	400,000		Essex Portfolio LP		3.500		04/01/25		431,965
	100,000		Essex Portfolio LP		3.375		04/15/26		108,160
	200,000		Essex Portfolio LP		3.625		05/01/27		218,011
	1,000,000		Essex Portfolio LP		1.700		03/01/28		962,762
	900,000		Essex Portfolio LP		4.000		03/01/29		995,997
	325,000		Essex Portfolio LP		3.000		01/15/30		332,972
	750,000		Essex Portfolio LP		1.650		01/15/31		680,582
	500,000		Essex Portfolio LP		2.650		03/15/32		491,962
	300,000		Essex Portfolio LP		4.500		03/15/48		341,082
	500,000		Federal Realty Investment Trust		3.950		01/15/24		542,540
	300,000		Federal Realty Investment Trust		1.250		02/15/26		296,226
	250,000		Federal Realty Investment Trust		3.250		07/15/27		265,479
	1,300,000		Federal Realty Investment Trust		3.200		06/15/29		1,341,011
	300,000		Federal Realty Investment Trust		3.500		06/01/30		314,333
	200,000		Federal Realty Investment Trust		4.500		12/01/44		221,545
	250,000		GLP Capital LP		3.350		09/01/24		264,175
	1,300,000		GLP Capital LP		5.250		06/01/25		1,457,404
	150,000		GLP Capital LP		5.375		04/15/26		168,427
	750,000		GLP Capital LP		5.750		06/01/28		865,177
	200,000		GLP Capital LP		5.300		01/15/29		224,190
	500,000		GLP Capital LP		4.000		01/15/30		520,125
	500,000		GLP Capital LP		4.000		01/15/31		516,737
	100,000		Healthcare Realty Trust, Inc		3.625		01/15/28		107,471
	100,000		Healthcare Realty Trust, Inc		2.400		03/15/30		97,350
	175,000		Healthcare Realty Trust, Inc		2.050		03/15/31		164,112
	800,000		Healthcare Trust of America Holdings LP		3.500		08/01/26		873,913
	500,000		Healthcare Trust of America Holdings LP		3.100		02/15/30		515,979
	975,000		Healthcare Trust of America Holdings LP		2.000		03/15/31		907,817
	250,000		Healthpeak Properties, Inc		4.000		06/01/25		276,338
	100,000		Healthpeak Properties, Inc		3.250		07/15/26		108,032
	600,000		Healthpeak Properties, Inc		3.500		07/15/29		643,164
	1,000,000		Healthpeak Properties, Inc		3.000		01/15/30		1,031,533
	175,000		Healthpeak Properties, Inc		2.875		01/15/31		176,422
	30,000		Healthpeak Properties, Inc		6.750		02/01/41		41,016
	100,000		Highwoods Realty LP		3.875		03/01/27		108,231

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	150,000	Highwoods Realty LP		4.125	%	03/15/28	$	162,300
	250,000	Highwoods Realty LP		4.200		04/15/29		271,491
	500,000	Highwoods Realty LP		3.050		02/15/30		504,899
	775,000	Highwoods Realty LP		2.600		02/01/31		756,982
	600,000	Host Hotels & Resorts LP		3.750		10/15/23		634,955
	700,000	Host Hotels & Resorts LP		3.875		04/01/24		741,441
	200,000	Host Hotels & Resorts LP		4.000		06/15/25		212,451
	100,000	Host Hotels & Resorts LP		4.500		02/01/26		108,259
	500,000	Host Hotels & Resorts LP		3.375		12/15/29		496,135
	850,000	Host Hotels & Resorts LP		3.500		09/15/30		853,363
	100,000	Hudson Pacific Properties LP		3.950		11/01/27		107,178
	100,000	Hudson Pacific Properties LP		4.650		04/01/29		111,999
	750,000	Hudson Pacific Properties LP		3.250		01/15/30		754,756
	250,000	Kilroy Realty LP		3.800		01/15/23		260,866
	125,000	Kilroy Realty LP		3.450		12/15/24		133,639
	250,000	Kilroy Realty LP		4.750		12/15/28		282,821
	200,000	Kilroy Realty LP		4.250		08/15/29		219,534
	750,000	Kilroy Realty LP		3.050		02/15/30		755,357
	500,000	Kilroy Realty LP		2.500		11/15/32		469,566
	100,000	Kimco Realty Corp		3.400		11/01/22		104,152
	300,000	Kimco Realty Corp		3.125		06/01/23		314,391
	200,000	Kimco Realty Corp		2.700		03/01/24		209,806
	1,175,000	Kimco Realty Corp		3.300		02/01/25		1,258,946
	625,000	Kimco Realty Corp		2.800		10/01/26		660,190
	200,000	Kimco Realty Corp		3.800		04/01/27		219,916
	500,000	Kimco Realty Corp		1.900		03/01/28		489,505
	750,000	Kimco Realty Corp		2.700		10/01/30		746,356
	200,000	Kimco Realty Corp		4.250		04/01/45		214,993
	175,000	Kimco Realty Corp		4.125		12/01/46		185,321
	100,000	Kimco Realty Corp		4.450		09/01/47		111,163
	500,000	Kimco Realty Corp		3.700		10/01/49		501,303
	750,000	Lexington Realty Trust		2.700		09/15/30		732,059
	200,000	Life Storage LP		3.875		12/15/27		221,439
	500,000	Life Storage LP		4.000		06/15/29		541,641
	100,000	Life Storage LP		2.200		10/15/30		94,461
	200,000	Mid-America Apartments LP		4.300		10/15/23		216,124
	100,000	Mid-America Apartments LP		4.000		11/15/25		110,958
	750,000	Mid-America Apartments LP		3.600		06/01/27		816,047
	200,000	Mid-America Apartments LP		4.200		06/15/28		223,649
	625,000	Mid-America Apartments LP		3.950		03/15/29		689,693
	175,000	Mid-America Apartments LP		2.750		03/15/30		176,675
	250,000	Mid-America Apartments LP		1.700		02/15/31		229,671
	1,000,000	National Health Investors, Inc		3.000		02/01/31		934,691
	1,550,000	National Retail Properties, Inc		3.500		10/15/27		1,668,776
	300,000	National Retail Properties, Inc		2.500		04/15/30		294,170
	500,000	National Retail Properties, Inc		3.100		04/15/50		451,218
	1,000,000	National Retail Properties, Inc		3.500		04/15/51		982,000
	248,000	Omega Healthcare Investors, Inc		4.375		08/01/23		266,371
	200,000	Omega Healthcare Investors, Inc		4.500		04/01/27		217,999
	825,000	Omega Healthcare Investors, Inc		4.750		01/15/28		906,143
	500,000	Omega Healthcare Investors, Inc		3.625		10/01/29		510,543
	500,000	Omega Healthcare Investors, Inc		3.375		02/01/31		495,934
	1,000,000	Omega Healthcare Investors, Inc		3.250		04/15/33		957,996
	200,000	Physicians Realty LP		4.300		03/15/27		219,647

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	200,000	Physicians Realty LP		3.950	%	01/15/28	$	213,810
	200,000	Piedmont Operating Partnership LP		3.400		06/01/23		207,714
	200,000	Piedmont Operating Partnership LP		4.450		03/15/24		215,773
	100,000	Prologis LP		3.250		10/01/26		109,455
	500,000	Prologis LP		2.125		04/15/27		510,459
	1,200,000	Prologis LP		3.875		09/15/28		1,334,344
	100,000	Prologis LP		4.375		02/01/29		114,818
	500,000	Prologis LP		2.250		04/15/30		494,389
	1,000,000	Prologis LP		1.250		10/15/30		907,120
	1,000,000	Prologis LP		1.625		03/15/31		928,482
	100,000	Prologis LP		4.375		09/15/48		118,921
	500,000	Prologis LP		3.000		04/15/50		479,273
	500,000	Prologis LP		2.125		10/15/50		400,395
	200,000	Public Storage		2.370		09/15/22		205,347
	1,500,000	Public Storage		0.875		02/15/26		1,467,188
	200,000	Public Storage		3.094		09/15/27		216,591
	500,000	Public Storage		3.385		05/01/29		545,659
	200,000	Rayonier, Inc		3.750		04/01/22		204,727
	500,000	Realty Income Corp		4.650		08/01/23		542,184
	200,000	Realty Income Corp		3.875		04/15/25		219,781
	750,000	Realty Income Corp		0.750		03/15/26		722,712
	200,000	Realty Income Corp		4.125		10/15/26		226,220
	200,000	Realty Income Corp		3.000		01/15/27		212,333
	1,000,000	Realty Income Corp		3.650		01/15/28		1,092,610
	500,000	Realty Income Corp		3.250		06/15/29		529,269
	1,500,000	Realty Income Corp		3.250		01/15/31		1,583,363
	750,000	Realty Income Corp		1.800		03/15/33		688,720
	300,000	Realty Income Corp		4.650		03/15/47		362,882
	375,000	Regency Centers LP		3.600		02/01/27		405,899
	125,000	Regency Centers LP		4.125		03/15/28		136,631
	425,000	Regency Centers LP		2.950		09/15/29		432,295
	500,000	Regency Centers LP		3.700		06/15/30		534,582
	200,000	Regency Centers LP		4.400		02/01/47		214,103
	300,000	Regency Centers LP		4.650		03/15/49		329,845
	350,000	Retail Properties of America, Inc		4.750		09/15/30		370,448
	300,000	Sabra Health Care LP		4.800		06/01/24		326,587
	300,000	Sabra Health Care LP		5.125		08/15/26		333,555
	200,000	Select Income REIT		4.150		02/01/22		204,431
	500,000	Select Income REIT		4.250		05/15/24		526,149
	400,000	Select Income REIT		4.500		02/01/25		420,764
	2,850,000	Simon Property Group LP		2.350		01/30/22		2,882,119
	200,000	Simon Property Group LP		2.625		06/15/22		204,111
	1,300,000	Simon Property Group LP		2.750		06/01/23		1,354,875
	500,000	Simon Property Group LP		2.000		09/13/24		517,483
	450,000	Simon Property Group LP		3.375		10/01/24		483,862
	800,000	Simon Property Group LP		3.500		09/01/25		866,141
	625,000	Simon Property Group LP		3.300		01/15/26		669,222
	350,000	Simon Property Group LP		3.250		11/30/26		376,759
	200,000	Simon Property Group LP		3.375		06/15/27		216,051
	300,000	Simon Property Group LP		3.375		12/01/27		322,552
	1,000,000	Simon Property Group LP		1.750		02/01/28		970,368
	1,750,000	Simon Property Group LP		2.450		09/13/29		1,732,410
	750,000	Simon Property Group LP		2.650		07/15/30		751,778

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	1,000,000		Simon Property Group LP		2.200	%	02/01/31	$	955,618
	1,500,000		Simon Property Group LP		4.250		10/01/44		1,615,757
	300,000		Simon Property Group LP		4.250		11/30/46		323,034
	500,000		Simon Property Group LP		3.250		09/13/49		467,785
	750,000		Simon Property Group LP		3.800		07/15/50		757,026
	150,000		SITE Centers Corp		4.250		02/01/26		160,025
	200,000		SITE Centers Corp		4.700		06/01/27		218,451
	200,000		SL Green Operating Partnership LP		3.250		10/15/22		206,301
	200,000	e	SL Green Realty Corp		4.500		12/01/22		209,372
	525,000		Sovran Acquisition LP		3.500		07/01/26		570,100
	300,000		Spirit Realty LP		3.200		01/15/27		313,291
	1,000,000		Spirit Realty LP		2.100		03/15/28		972,263
	500,000		Spirit Realty LP		4.000		07/15/29		541,580
	300,000		Spirit Realty LP		3.400		01/15/30		311,129
	500,000		Spirit Realty LP		3.200		02/15/31		500,502
	1,000,000		Spirit Realty LP		2.700		02/15/32		950,098
	500,000		STORE Capital Corp		4.625		03/15/29		556,409
	500,000		STORE Capital Corp		2.750		11/18/30		489,326
	100,000		Tanger Properties LP		3.125		09/01/26		102,970
	250,000		Tanger Properties LP		3.875		07/15/27		262,438
	200,000		UDR, Inc		3.500		07/01/27		217,671
	200,000		UDR, Inc		3.500		01/15/28		214,155
	600,000		UDR, Inc		3.200		01/15/30		631,560
	750,000		UDR, Inc		3.000		08/15/31		762,504
	750,000		UDR, Inc		2.100		08/01/32		696,844
	500,000		UDR, Inc		1.900		03/15/33		450,801
	1,000,000		UDR, Inc		2.100		06/15/33		921,582
	300,000		UDR, Inc		3.100		11/01/34		302,123
	800,000		Ventas Realty LP		3.125		06/15/23		836,509
	300,000		Ventas Realty LP		3.500		04/15/24		323,322
	750,000		Ventas Realty LP		2.650		01/15/25		783,430
	120,000		Ventas Realty LP		4.125		01/15/26		134,473
	200,000		Ventas Realty LP		3.250		10/15/26		215,647
	1,000,000		Ventas Realty LP		4.000		03/01/28		1,104,593
	525,000		Ventas Realty LP		4.400		01/15/29		589,179
	350,000		Ventas Realty LP		3.000		01/15/30		356,908
	500,000		Ventas Realty LP		4.750		11/15/30		576,392
	300,000		Ventas Realty LP		4.375		02/01/45		311,550
	300,000		Ventas Realty LP		4.875		04/15/49		337,279
	425,000		VEREIT Operating Partnership LP		4.875		06/01/26		486,646
	650,000		VEREIT Operating Partnership LP		3.950		08/15/27		713,265
	1,000,000		VEREIT Operating Partnership LP		3.400		01/15/28		1,054,470
	500,000		VEREIT Operating Partnership LP		2.200		06/15/28		490,652
	500,000		VEREIT Operating Partnership LP		3.100		12/15/29		510,747
	500,000		VEREIT Operating Partnership LP		2.850		12/15/32		484,226
	200,000		Vornado Realty LP		3.500		01/15/25		210,813
	100,000		Washington REIT		3.950		10/15/22		103,610
	100,000		Weingarten Realty Investors		3.375		10/15/22		103,350
	100,000		Weingarten Realty Investors		3.500		04/15/23		104,670
	2,000,000		Welltower, Inc		3.625		03/15/24		2,157,554
	1,700,000		Welltower, Inc		4.000		06/01/25		1,868,783
	600,000		Welltower, Inc		4.250		04/01/26		674,056
	500,000		Welltower, Inc		2.700		02/15/27		521,368
	600,000		Welltower, Inc		4.250		04/15/28		668,065

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	500,000		Welltower, Inc		4.125	%	03/15/29	$	552,565
	425,000		Welltower, Inc		3.100		01/15/30		436,812
	400,000		Welltower, Inc		2.750		01/15/31		397,842
	1,000,000		Welltower, Inc		2.800		06/01/31		993,929
	300,000		Welltower, Inc		4.950		09/01/48		355,752
	500,000		Weyerhaeuser Co		4.000		11/15/29		556,147
	500,000		Weyerhaeuser Co		4.000		04/15/30		552,694
	1,075,000		Weyerhaeuser Co		7.375		03/15/32		1,509,740
	200,000		WP Carey, Inc		4.600		04/01/24		219,906
	347,000		WP Carey, Inc		4.000		02/01/25		377,651
	1,000,000		WP Carey, Inc		3.850		07/15/29		1,075,383
	750,000		WP Carey, Inc		2.400		02/01/31		717,612
	1,000,000		WP Carey, Inc		2.250		04/01/33		928,505
			TOTAL REAL ESTATE						193,711,304

RETAILING - 0.7%
	100,000		Advance Auto Parts, Inc		1.750		10/01/27		98,522
	500,000		Advance Auto Parts, Inc		3.900		04/15/30		543,325
	1,200,000		Alibaba Group Holding Ltd		2.800		06/06/23		1,251,661
	1,250,000		Alibaba Group Holding Ltd		3.600		11/28/24		1,356,968
	1,325,000		Alibaba Group Holding Ltd		3.400		12/06/27		1,421,481
	1,250,000		Alibaba Group Holding Ltd		2.125		02/09/31		1,192,426
	500,000		Alibaba Group Holding Ltd		4.500		11/28/34		567,247
	750,000		Alibaba Group Holding Ltd		4.000		12/06/37		808,012
	1,250,000		Alibaba Group Holding Ltd		2.700		02/09/41		1,134,724
	1,500,000		Alibaba Group Holding Ltd		4.200		12/06/47		1,656,142
	1,250,000		Alibaba Group Holding Ltd		3.150		02/09/51		1,162,872
	750,000		Alibaba Group Holding Ltd		4.400		12/06/57		859,361
	1,250,000	e	Alibaba Group Holding Ltd		3.250		02/09/61		1,156,680
	200,000		Allegion US Holding Co, Inc		3.200		10/01/24		212,178
	200,000		Allegion US Holding Co, Inc		3.550		10/01/27		213,866
	850,000		Amazon.com, Inc		2.500		11/29/22		876,638
	1,650,000		Amazon.com, Inc		2.400		02/22/23		1,710,893
	1,000,000		Amazon.com, Inc		0.400		06/03/23		1,002,782
	1,125,000		Amazon.com, Inc		2.800		08/22/24		1,205,269
	425,000		Amazon.com, Inc		3.800		12/05/24		470,560
	1,000,000		Amazon.com, Inc		0.800		06/03/25		995,982
	325,000		Amazon.com, Inc		5.200		12/03/25		382,285
	1,000,000		Amazon.com, Inc		1.200		06/03/27		978,294
	2,700,000		Amazon.com, Inc		3.150		08/22/27		2,954,266
	1,000,000		Amazon.com, Inc		1.500		06/03/30		952,881
	1,800,000		Amazon.com, Inc		4.800		12/05/34		2,261,208
	2,625,000		Amazon.com, Inc		3.875		08/22/37		3,007,677
	775,000		Amazon.com, Inc		4.950		12/05/44		1,018,463
	2,875,000		Amazon.com, Inc		4.050		08/22/47		3,364,859
	1,900,000		Amazon.com, Inc		2.500		06/03/50		1,699,436
	1,900,000		Amazon.com, Inc		4.250		08/22/57		2,273,098
	1,000,000		Amazon.com, Inc		2.700		06/03/60		886,970
	200,000		AutoNation, Inc		3.500		11/15/24		215,467
	244,000		AutoNation, Inc		4.500		10/01/25		270,721
	200,000		AutoNation, Inc		3.800		11/15/27		218,169
	100,000		AutoNation, Inc		4.750		06/01/30		115,306
	442,000		AutoZone, Inc		3.700		04/15/22		453,283

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	300,000		AutoZone, Inc		2.875	%	01/15/23	$	310,843
	150,000		AutoZone, Inc		3.125		07/15/23		157,930
	250,000		AutoZone, Inc		3.125		04/18/24		266,399
	200,000		AutoZone, Inc		3.250		04/15/25		213,923
	500,000		AutoZone, Inc		3.625		04/15/25		544,503
	100,000		AutoZone, Inc		3.125		04/21/26		107,044
	650,000		AutoZone, Inc		3.750		06/01/27		717,440
	200,000		AutoZone, Inc		3.750		04/18/29		216,753
	500,000		AutoZone, Inc		4.000		04/15/30		553,524
	600,000		AutoZone, Inc		1.650		01/15/31		549,263
	500,000		Best Buy Co, Inc		4.450		10/01/28		570,069
	500,000		Best Buy Co, Inc		1.950		10/01/30		470,956
	1,000,000		Chevron USA, Inc		0.426		08/11/23		1,002,145
	750,000		Chevron USA, Inc		3.900		11/15/24		825,809
	2,000,000		Chevron USA, Inc		0.687		08/12/25		1,961,626
	2,000,000		Chevron USA, Inc		1.018		08/12/27		1,924,387
	1,000,000		Chevron USA, Inc		3.250		10/15/29		1,077,802
	875,000		Chevron USA, Inc		6.000		03/01/41		1,213,480
	450,000		Chevron USA, Inc		5.250		11/15/43		582,197
	175,000		Chevron USA, Inc		5.050		11/15/44		221,985
	200,000		Chevron USA, Inc		4.950		08/15/47		251,455
	1,000,000		Chevron USA, Inc		4.200		10/15/49		1,138,772
	250,000		Chevron USA, Inc		2.343		08/12/50		207,774
	375,000		Dollar General Corp		3.250		04/15/23		394,589
	355,000		Dollar General Corp		4.150		11/01/25		396,739
	300,000		Dollar General Corp		3.875		04/15/27		333,323
	500,000		Dollar General Corp		4.125		05/01/28		560,036
	500,000		Dollar General Corp		3.500		04/03/30		539,066
	500,000		Dollar General Corp		4.125		04/03/50		553,851
	1,500,000		Dollar Tree, Inc		3.700		05/15/23		1,592,398
	500,000		Dollar Tree, Inc		4.000		05/15/25		552,053
	500,000		Dollar Tree, Inc		4.200		05/15/28		560,688
	375,000		eBay, Inc		2.750		01/30/23		390,494
	400,000		eBay, Inc		3.450		08/01/24		431,122
	1,200,000		eBay, Inc		3.600		06/05/27		1,307,115
	1,200,000		eBay, Inc		2.700		03/11/30		1,212,471
	200,000		eBay, Inc		4.000		07/15/42		211,988
	500,000	g	Expedia Group, Inc		3.600		12/15/23		532,177
	300,000		Expedia Group, Inc		4.500		08/15/24		326,930
	1,200,000		Expedia Group, Inc		5.000		02/15/26		1,354,232
	750,000	g	Expedia Group, Inc		4.625		08/01/27		834,558
	175,000		Expedia Group, Inc		3.800		02/15/28		185,356
	750,000		Expedia Group, Inc		3.250		02/15/30		754,834
	1,000,000	g	Expedia Group, Inc		2.950		03/15/31		986,300
	1,500,000		Genuine Parts Co		1.875		11/01/30		1,382,540
	850,000		Home Depot, Inc		3.250		03/01/22		873,947
	700,000		Home Depot, Inc		2.625		06/01/22		717,624
	800,000		Home Depot, Inc		2.700		04/01/23		832,564
	550,000		Home Depot, Inc		3.750		02/15/24		597,075
	350,000		Home Depot, Inc		3.350		09/15/25		382,494
	1,925,000		Home Depot, Inc		3.000		04/01/26		2,080,858
	1,550,000		Home Depot, Inc		2.125		09/15/26		1,616,410
	2,000,000	e	Home Depot, Inc		0.900		03/15/28		1,908,736
	825,000		Home Depot, Inc		3.900		12/06/28		944,911

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	2,333,000		Home Depot, Inc		2.950	%	06/15/29	$	2,473,490
	375,000		Home Depot, Inc		2.700		04/15/30		390,923
	2,000,000		Home Depot, Inc		1.375		03/15/31		1,849,439
	425,000		Home Depot, Inc		5.875		12/16/36		585,417
	150,000		Home Depot, Inc		5.950		04/01/41		208,174
	675,000		Home Depot, Inc		4.200		04/01/43		783,948
	450,000		Home Depot, Inc		4.875		02/15/44		571,692
	650,000		Home Depot, Inc		4.400		03/15/45		780,433
	725,000		Home Depot, Inc		4.250		04/01/46		853,185
	2,100,000		Home Depot, Inc		3.900		06/15/47		2,360,172
	2,000,000		Home Depot, Inc		4.500		12/06/48		2,446,653
	1,000,000		Home Depot, Inc		3.125		12/15/49		982,679
	2,655,000		Home Depot, Inc		3.350		04/15/50		2,753,555
	3,000,000		Home Depot, Inc		2.375		03/15/51		2,574,538
	675,000		Home Depot, Inc		3.500		09/15/56		696,160
	500,000		JD.com, Inc		3.375		01/14/30		515,318
	500,000		JD.com, Inc		4.125		01/14/50		502,205
	1,000,000		Kohl’s Corp		3.250		02/01/23		1,035,712
	55,000		Kohl’s Corp		4.750		12/15/23		59,942
	300,000		Kohl’s Corp		9.500		05/15/25		388,987
	200,000		Kohl’s Corp		4.250		07/17/25		219,000
	750,000		Kohl’s Corp		3.375		05/01/31		750,587
	200,000		Kohl’s Corp		5.550		07/17/45		226,585
	200,000		Lowe’s Cos, Inc		3.800		11/15/21		202,512
	1,025,000		Lowe’s Cos, Inc		3.120		04/15/22		1,047,489
	300,000		Lowe’s Cos, Inc		3.875		09/15/23		321,733
	400,000		Lowe’s Cos, Inc		3.125		09/15/24		429,349
	1,100,000		Lowe’s Cos, Inc		3.375		09/15/25		1,196,678
	500,000		Lowe’s Cos, Inc		2.500		04/15/26		526,102
	2,000,000		Lowe’s Cos, Inc		1.300		04/15/28		1,900,349
	775,000		Lowe’s Cos, Inc		3.650		04/05/29		848,312
	306,000		Lowe’s Cos, Inc		4.500		04/15/30		352,969
	1,500,000		Lowe’s Cos, Inc		1.700		10/15/30		1,408,970
	800,000		Lowe’s Cos, Inc		2.625		04/01/31		802,278
	56,000		Lowe’s Cos, Inc		4.250		09/15/44		60,132
	1,075,000		Lowe’s Cos, Inc		3.700		04/15/46		1,122,406
	2,000,000		Lowe’s Cos, Inc		4.050		05/03/47		2,192,968
	1,425,000		Lowe’s Cos, Inc		4.550		04/05/49		1,672,494
	1,320,000	e	Lowe’s Cos, Inc		5.125		04/15/50		1,693,044
	450,000		Lowe’s Cos, Inc		3.000		10/15/50		419,723
	1,000,000		Lowe’s Cos, Inc		3.500		04/01/51		1,017,125
	900,000		O’Reilly Automotive, Inc		3.800		09/01/22		933,233
	1,000,000		O’Reilly Automotive, Inc		3.600		09/01/27		1,093,128
	300,000		O’Reilly Automotive, Inc		4.350		06/01/28		340,010
	500,000		O’Reilly Automotive, Inc		3.900		06/01/29		547,909
	200,000		O’Reilly Automotive, Inc		1.750		03/15/31		184,782
	200,000		Priceline Group, Inc		2.750		03/15/23		208,410
	300,000		Priceline Group, Inc		3.650		03/15/25		326,741
	300,000		Priceline Group, Inc		3.600		06/01/26		327,990
	900,000		Priceline Group, Inc		3.550		03/15/28		982,908
	300,000		Ross Stores, Inc		4.600		04/15/25		336,578
	500,000		Ross Stores, Inc		0.875		04/15/26		483,884
	55,000		Ross Stores, Inc		4.700		04/15/27		62,597

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	500,000		Ross Stores, Inc		1.875	%	04/15/31	$	469,044
	350,000		Target Corp		3.500		07/01/24		382,262
	200,000		Target Corp		2.250		04/15/25		209,543
	1,700,000		Target Corp		2.500		04/15/26		1,803,385
	1,500,000		Target Corp		3.375		04/15/29		1,639,690
	600,000		Target Corp		2.350		02/15/30		608,305
	5,000,000		Target Corp		2.650		09/15/30		5,178,233
	300,000		TJX Cos, Inc		2.500		05/15/23		311,604
	525,000		TJX Cos, Inc		2.250		09/15/26		545,474
	500,000		TJX Cos, Inc		3.750		04/15/27		556,726
	2,750,000		TJX Cos, Inc		1.150		05/15/28		2,609,314
	500,000		TJX Cos, Inc		1.600		05/15/31		466,387
	650,000		Tractor Supply Co		1.750		11/01/30		599,666
			TOTAL RETAILING						143,814,760

SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.5%
	200,000		Altera Corp		4.100		11/15/23		219,336
	300,000		Analog Devices, Inc		2.500		12/05/21		303,824
	1,825,000		Analog Devices, Inc		3.125		12/05/23		1,942,654
	250,000		Analog Devices, Inc		2.950		04/01/25		265,686
	1,175,000		Analog Devices, Inc		3.500		12/05/26		1,285,741
	100,000		Analog Devices, Inc		4.500		12/05/36		110,343
	200,000		Analog Devices, Inc		5.300		12/15/45		248,383
	1,000,000		Applied Materials, Inc		3.300		04/01/27		1,088,132
	950,000		Applied Materials, Inc		1.750		06/01/30		914,693
	250,000		Applied Materials, Inc		5.100		10/01/35		318,870
	100,000		Applied Materials, Inc		5.850		06/15/41		138,524
	1,200,000		Applied Materials, Inc		4.350		04/01/47		1,425,264
	775,000		Applied Materials, Inc		2.750		06/01/50		719,187
	117,000		Broadcom, Inc		3.150		11/15/25		124,702
	4,399,000		Broadcom, Inc		3.459		09/15/26		4,717,745
	2,000,000	e,g	Broadcom, Inc		1.950		02/15/28		1,955,043
	3,706,000		Broadcom, Inc		4.110		09/15/28		4,051,586
	3,000,000		Broadcom, Inc		4.750		04/15/29		3,373,137
	750,000		Broadcom, Inc		5.000		04/15/30		854,787
	850,000		Broadcom, Inc		4.150		11/15/30		917,456
	1,500,000	g	Broadcom, Inc		2.450		02/15/31		1,415,710
	1,500,000		Broadcom, Inc		4.300		11/15/32		1,633,105
	1,500,000	g	Broadcom, Inc		2.600		02/15/33		1,397,304
	5,883,000	g	Broadcom, Inc		3.419		04/15/33		5,899,848
	2,522,000	g,h	Broadcom, Inc		3.469		04/15/34		2,530,623
	850,000	g	Broadcom, Inc		3.500		02/15/41		814,082
	3,000,000	g	Broadcom, Inc		3.750		02/15/51		2,868,648
	1,600,000		Intel Corp		3.100		07/29/22		1,657,346
	1,700,000		Intel Corp		2.700		12/15/22		1,768,439
	2,050,000		Intel Corp		3.700		07/29/25		2,260,703
	2,480,000		Intel Corp		2.600		05/19/26		2,630,778
	1,500,000		Intel Corp		3.900		03/25/30		1,702,429
	250,000		Intel Corp		4.000		12/15/32		287,969
	200,000		Intel Corp		4.100		05/19/46		226,716
	675,000		Intel Corp		4.100		05/11/47		762,094
	3,328,000		Intel Corp		3.734		12/08/47		3,584,895
	2,500,000		Intel Corp		3.250		11/15/49		2,514,281
	3,175,000		Intel Corp		4.750		03/25/50		3,979,838

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	1,000,000		Intel Corp		3.100	%	02/15/60	$	944,420
	1,000,000		KLA Corp		3.300		03/01/50		960,491
	200,000		Lam Research Corp		3.800		03/15/25		219,749
	150,000		Lam Research Corp		3.750		03/15/26		166,259
	275,000		Lam Research Corp		4.000		03/15/29		311,420
	125,000		Lam Research Corp		1.900		06/15/30		121,147
	825,000		Lam Research Corp		4.875		03/15/49		1,063,033
	200,000		Lam Research Corp		2.875		06/15/50		190,648
	1,200,000		Lam Research Corp		3.125		06/15/60		1,158,234
	350,000		Marvell Technology Group Ltd		4.200		06/22/23		374,495
	350,000		Marvell Technology Group Ltd		4.875		06/22/28		401,205
	200,000		Maxim Integrated Products, Inc		3.375		03/15/23		209,419
	400,000		Maxim Integrated Products, Inc		3.450		06/15/27		436,988
	1,000,000		Microchip Technology, Inc		4.333		06/01/23		1,072,542
	750,000		Micron Technology, Inc		2.497		04/24/23		778,418
	475,000		Micron Technology, Inc		4.640		02/06/24		523,054
	425,000		Micron Technology, Inc		4.975		02/06/26		486,325
	750,000		Micron Technology, Inc		4.185		02/15/27		832,722
	400,000		Micron Technology, Inc		5.327		02/06/29		470,573
	500,000		Micron Technology, Inc		4.663		02/15/30		567,968
	525,000		NVIDIA Corp		2.200		09/16/21		528,829
	800,000		NVIDIA Corp		3.200		09/16/26		872,679
	750,000		NVIDIA Corp		2.850		04/01/30		787,650
	1,000,000		NVIDIA Corp		3.500		04/01/40		1,075,677
	2,067,000		NVIDIA Corp		3.500		04/01/50		2,183,176
	475,000	g	NXP BV		4.875		03/01/24		527,942
	300,000	g	NXP BV		2.700		05/01/25		314,629
	425,000	g	NXP BV		5.350		03/01/26		496,033
	750,000	g	NXP BV		3.875		06/18/26		825,512
	300,000	g	NXP BV		3.150		05/01/27		318,793
	400,000	g	NXP BV		5.550		12/01/28		479,209
	750,000	g	NXP BV		4.300		06/18/29		838,822
	675,000	g	NXP BV		3.400		05/01/30		712,768
	2,800,000		QUALCOMM, Inc		3.250		05/20/27		3,057,634
	1,339,000		QUALCOMM, Inc		1.300		05/20/28		1,281,784
	1,000,000		QUALCOMM, Inc		2.150		05/20/30		991,429
	2,384,000		QUALCOMM, Inc		1.650		05/20/32		2,199,568
	750,000		QUALCOMM, Inc		4.650		05/20/35		915,244
	650,000		QUALCOMM, Inc		4.800		05/20/45		816,473
	1,525,000		QUALCOMM, Inc		4.300		05/20/47		1,795,298
	100,000		Texas Instruments, Inc		2.625		05/15/24		105,979
	325,000		Texas Instruments, Inc		1.375		03/12/25		330,671
	350,000		Texas Instruments, Inc		2.900		11/03/27		378,415
	1,000,000		Texas Instruments, Inc		2.250		09/04/29		1,005,561
	325,000		Texas Instruments, Inc		1.750		05/04/30		312,610
	350,000		Texas Instruments, Inc		3.875		03/15/39		401,666
	1,200,000		Texas Instruments, Inc		4.150		05/15/48		1,427,640
	475,000		Xilinx, Inc		2.950		06/01/24		504,186
	1,000,000		Xilinx, Inc		2.375		06/01/30		977,318
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT						100,662,206

SOFTWARE & SERVICES - 1.1%
	775,000		Adobe Systems, Inc		3.250		02/01/25		838,175

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	125,000		Adobe, Inc		1.700	%	02/01/23	$	128,160
	500,000		Adobe, Inc		1.900		02/01/25		516,914
	1,000,000		Adobe, Inc		2.150		02/01/27		1,031,832
	925,000		Adobe, Inc		2.300		02/01/30		935,456
	1,000,000		Amdocs Ltd		2.538		06/15/30		983,232
	250,000		Autodesk, Inc		4.375		06/15/25		279,450
	450,000		Autodesk, Inc		3.500		06/15/27		492,076
	750,000		Autodesk, Inc		2.850		01/15/30		769,582
	700,000		Automatic Data Processing, Inc		3.375		09/15/25		770,544
	900,000		Automatic Data Processing, Inc		1.250		09/01/30		824,516
	900,000		Baidu, Inc		2.875		07/06/22		921,810
	700,000		Baidu, Inc		3.875		09/29/23		748,107
	525,000		Baidu, Inc		4.375		05/14/24		575,913
	200,000		Baidu, Inc		3.075		04/07/25		210,393
	1,000,000		Baidu, Inc		1.720		04/09/26		993,879
	300,000		Baidu, Inc		3.625		07/06/27		325,494
	500,000		Baidu, Inc		4.375		03/29/28		551,437
	500,000	e	Baidu, Inc		4.875		11/14/28		574,979
	300,000		Baidu, Inc		3.425		04/07/30		313,591
	750,000		Baidu, Inc		2.375		10/09/30		723,116
	350,000		Broadridge Financial Solutions, Inc		3.400		06/27/26		379,419
	1,000,000		Broadridge Financial Solutions, Inc		2.900		12/01/29		1,024,696
	150,000		CA, Inc		4.700		03/15/27		167,967
	1,500,000		Citrix Systems, Inc		1.250		03/01/26		1,474,616
	500,000		Citrix Systems, Inc		4.500		12/01/27		569,398
	750,000		Citrix Systems, Inc		3.300		03/01/30		771,401
	375,000		DXC Technology Co		4.250		04/15/24		406,316
	500,000		DXC Technology Co		4.125		04/15/25		543,736
	200,000		DXC Technology Co		4.750		04/15/27		223,282
	125,000		Fidelity National Information Services, Inc		3.500		04/15/23		131,639
	3,000,000		Fidelity National Information Services, Inc		0.600		03/01/24		2,982,626
	1,500,000		Fidelity National Information Services, Inc		1.150		03/01/26		1,474,887
	1,500,000		Fidelity National Information Services, Inc		1.650		03/01/28		1,466,910
	825,000		Fidelity National Information Services, Inc		2.250		03/01/31		810,575
	425,000		Fidelity National Information Services, Inc		3.100		03/01/41		417,474
	300,000		Fidelity National Information Services, Inc		4.500		08/15/46		344,696
	150,000		Fidelity National Information Services, Inc		4.750		05/15/48		179,330
	1,350,000		Fiserv, Inc		3.500		10/01/22		1,400,768
	125,000		Fiserv, Inc		3.800		10/01/23		134,384
	2,000,000		Fiserv, Inc		2.750		07/01/24		2,113,433
	1,675,000		Fiserv, Inc		3.850		06/01/25		1,839,615
	900,000		Fiserv, Inc		3.200		07/01/26		971,404
	1,125,000		Fiserv, Inc		3.500		07/01/29		1,213,424
	675,000		Fiserv, Inc		2.650		06/01/30		679,809
	2,300,000		Fiserv, Inc		4.400		07/01/49		2,654,063
	1,000,000		Fortinet, Inc		1.000		03/15/26		977,702
	1,000,000		Fortinet, Inc		2.200		03/15/31		967,919
	125,000		Global Payments, Inc		3.750		06/01/23		132,632
	500,000		Global Payments, Inc		4.000		06/01/23		535,317
	575,000		Global Payments, Inc		2.650		02/15/25		604,141
	2,500,000		Global Payments, Inc		1.200		03/01/26		2,461,058
	300,000		Global Payments, Inc		4.800		04/01/26		343,056
	500,000		Global Payments, Inc		4.450		06/01/28		573,345
	475,000		Global Payments, Inc		3.200		08/15/29		500,275

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	325,000	Global Payments, Inc		2.900	%	05/15/30	$	331,772
	1,250,000	Global Payments, Inc		4.150		08/15/49		1,363,964
	425,000	International Business Machines Corp		2.500		01/27/22		432,880
	750,000	International Business Machines Corp		1.875		08/01/22		766,641
	750,000	International Business Machines Corp		2.875		11/09/22		781,492
	550,000	International Business Machines Corp		3.375		08/01/23		589,662
	600,000	International Business Machines Corp		3.625		02/12/24		653,948
	3,000,000	International Business Machines Corp		3.000		05/15/24		3,216,741
	350,000	International Business Machines Corp		3.450		02/19/26		385,018
	2,500,000	International Business Machines Corp		3.300		05/15/26		2,722,995
	1,000,000	International Business Machines Corp		1.700		05/15/27		999,861
	2,675,000	International Business Machines Corp		3.500		05/15/29		2,910,001
	900,000	International Business Machines Corp		1.950		05/15/30		871,201
	1,850,000	International Business Machines Corp		4.150		05/15/39		2,095,883
	19,000	International Business Machines Corp		5.600		11/30/39		25,103
	450,000	International Business Machines Corp		2.850		05/15/40		433,800
	1,060,000	International Business Machines Corp		4.000		06/20/42		1,192,262
	1,500,000	International Business Machines Corp		4.700		02/19/46		1,828,432
	2,500,000	International Business Machines Corp		4.250		05/15/49		2,877,818
	975,000	International Business Machines Corp		2.950		05/15/50		906,250
	350,000	Intuit, Inc		0.650		07/15/23		351,626
	300,000	Intuit, Inc		0.950		07/15/25		297,671
	350,000	Intuit, Inc		1.350		07/15/27		344,173
	350,000	Intuit, Inc		1.650		07/15/30		331,960
	1,000,000	Mastercard, Inc		3.375		04/01/24		1,086,060
	1,000,000	Mastercard, Inc		2.000		03/03/25		1,043,302
	425,000	Mastercard, Inc		2.950		11/21/26		458,539
	750,000	Mastercard, Inc		3.500		02/26/28		828,879
	1,000,000	Mastercard, Inc		2.950		06/01/29		1,072,276
	625,000	Mastercard, Inc		1.900		03/15/31		614,332
	200,000	Mastercard, Inc		3.800		11/21/46		220,615
	300,000	Mastercard, Inc		3.950		02/26/48		339,430
	1,000,000	Mastercard, Inc		3.650		06/01/49		1,091,458
	1,350,000	Mastercard, Inc		3.850		03/26/50		1,529,753
	850,000	Mastercard, Inc		2.950		03/15/51		837,070
	1,300,000	Microsoft Corp		2.375		02/12/22		1,321,729
	725,000	Microsoft Corp		2.650		11/03/22		750,629
	575,000	Microsoft Corp		2.125		11/15/22		592,226
	275,000	Microsoft Corp		2.375		05/01/23		285,451
	1,450,000	Microsoft Corp		2.000		08/08/23		1,503,367
	800,000	Microsoft Corp		3.625		12/15/23		863,985
	975,000	Microsoft Corp		2.700		02/12/25		1,042,437
	1,075,000	Microsoft Corp		3.125		11/03/25		1,171,697
	2,925,000	Microsoft Corp		2.400		08/08/26		3,092,469
	5,739,000	Microsoft Corp		3.300		02/06/27		6,334,179
	150,000	Microsoft Corp		3.500		02/12/35		167,709
	1,072,000	Microsoft Corp		3.450		08/08/36		1,188,064
	8,038,000	Microsoft Corp		2.525		06/01/50		7,319,190
	6,265,000	Microsoft Corp		2.921		03/17/52		6,171,353
	7,374,000	Microsoft Corp		2.675		06/01/60		6,769,011
	1,073,000	Microsoft Corp		3.041		03/17/62		1,051,970
	1,600,000	Oracle Corp		2.500		05/15/22		1,631,234
	2,150,000	Oracle Corp		2.500		10/15/22		2,218,728

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	800,000	Oracle Corp		2.625	%	02/15/23	$	828,433
	225,000	Oracle Corp		3.625		07/15/23		239,994
	2,375,000	Oracle Corp		2.400		09/15/23		2,471,019
	1,225,000	Oracle Corp		3.400		07/08/24		1,316,208
	900,000	Oracle Corp		2.950		11/15/24		960,171
	6,500,000	Oracle Corp		2.500		04/01/25		6,829,664
	1,650,000	Oracle Corp		2.950		05/15/25		1,757,355
	3,000,000	Oracle Corp		1.650		03/25/26		3,023,688
	2,884,000	Oracle Corp		2.650		07/15/26		3,026,526
	1,000,000	Oracle Corp		2.800		04/01/27		1,053,142
	3,000,000	Oracle Corp		2.300		03/25/28		3,037,259
	1,000,000	Oracle Corp		2.950		04/01/30		1,031,146
	400,000	Oracle Corp		3.250		05/15/30		419,523
	3,000,000	Oracle Corp		2.875		03/25/31		3,053,800
	2,497,000	Oracle Corp		4.300		07/08/34		2,809,315
	650,000	Oracle Corp		3.900		05/15/35		702,531
	1,225,000	Oracle Corp		3.850		07/15/36		1,302,822
	4,000,000	Oracle Corp		3.800		11/15/37		4,154,391
	100,000	Oracle Corp		6.500		04/15/38		137,918
	470,000	Oracle Corp		6.125		07/08/39		624,472
	675,000	Oracle Corp		3.600		04/01/40		677,915
	325,000	Oracle Corp		5.375		07/15/40		398,613
	2,000,000	Oracle Corp		3.650		03/25/41		2,023,866
	500,000	Oracle Corp		4.500		07/08/44		552,027
	325,000	Oracle Corp		4.125		05/15/45		340,076
	2,025,000	Oracle Corp		4.000		07/15/46		2,084,721
	3,100,000	Oracle Corp		4.000		11/15/47		3,201,374
	7,350,000	Oracle Corp		3.600		04/01/50		7,119,077
	2,000,000	Oracle Corp		3.950		03/25/51		2,061,728
	500,000	Oracle Corp		4.375		05/15/55		545,828
	1,500,000	Oracle Corp		3.850		04/01/60		1,471,839
	2,000,000	Oracle Corp		4.100		03/25/61		2,069,682
	550,000	PayPal Holdings, Inc		2.200		09/26/22		564,412
	1,000,000	PayPal Holdings, Inc		1.350		06/01/23		1,017,681
	1,000,000	PayPal Holdings, Inc		2.400		10/01/24		1,050,790
	1,000,000	PayPal Holdings, Inc		1.650		06/01/25		1,018,403
	1,000,000	PayPal Holdings, Inc		2.850		10/01/29		1,041,834
	500,000	PayPal Holdings, Inc		2.300		06/01/30		495,305
	1,000,000	PayPal Holdings, Inc		3.250		06/01/50		994,961
	725,000	salesforce.com, Inc		3.250		04/11/23		765,868
	925,000	salesforce.com, Inc		3.700		04/11/28		1,033,141
	1,000,000	ServiceNow, Inc		1.400		09/01/30		903,879
	450,000	Visa, Inc		2.150		09/15/22		461,568
	1,025,000	Visa, Inc		2.800		12/14/22		1,064,692
	3,725,000	Visa, Inc		3.150		12/14/25		4,062,859
	1,175,000	Visa, Inc		0.750		08/15/27		1,128,058
	700,000	Visa, Inc		2.750		09/15/27		747,136
	475,000	Visa, Inc		2.050		04/15/30		474,168
	1,500,000	Visa, Inc		1.100		02/15/31		1,364,896
	250,000	Visa, Inc		4.150		12/14/35		295,589
	1,500,000	Visa, Inc		2.700		04/15/40		1,468,998
	2,325,000	Visa, Inc		4.300		12/14/45		2,804,177
	1,125,000	Visa, Inc		3.650		09/15/47		1,243,571
	750,000	Visa, Inc		2.000		08/15/50		606,813

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	1,475,000	VMware, Inc		2.950	%	08/21/22	$	1,521,089
	500,000	VMware, Inc		4.500		05/15/25		557,671
	725,000	VMware, Inc		3.900		08/21/27		791,567
	1,000,000	VMware, Inc		4.700		05/15/30		1,152,680
	1,600,000	Western Union Co		3.600		03/15/22		1,639,596
	200,000	Western Union Co		4.250		06/09/23		214,453
	500,000	Western Union Co		2.850		01/10/25		524,124
	1,000,000	Western Union Co		1.350		03/15/26		974,721
	1,000,000	Western Union Co		2.750		03/15/31		953,440
		TOTAL SOFTWARE & SERVICES						218,552,528

TECHNOLOGY HARDWARE & EQUIPMENT - 0.8%
	200,000	Amphenol Corp		3.200		04/01/24		213,251
	250,000	Amphenol Corp		2.050		03/01/25		257,930
	450,000	Amphenol Corp		4.350		06/01/29		511,192
	1,000,000	Amphenol Corp		2.800		02/15/30		1,025,261
	1,250,000	Apple, Inc		2.150		02/09/22		1,270,587
	1,050,000	Apple, Inc		2.700		05/13/22		1,079,060
	275,000	Apple, Inc		1.700		09/11/22		280,919
	575,000	Apple, Inc		2.100		09/12/22		590,328
	650,000	Apple, Inc		2.400		01/13/23		673,818
	750,000	Apple, Inc		2.850		02/23/23		783,159
	925,000	Apple, Inc		2.400		05/03/23		966,346
	1,000,000	Apple, Inc		0.750		05/11/23		1,010,590
	1,150,000	Apple, Inc		3.000		02/09/24		1,227,161
	2,725,000	Apple, Inc		3.450		05/06/24		2,960,932
	1,075,000	Apple, Inc		2.850		05/11/24		1,146,641
	1,850,000	Apple, Inc		2.750		01/13/25		1,968,744
	1,075,000	Apple, Inc		2.500		02/09/25		1,136,876
	2,000,000	Apple, Inc		1.125		05/11/25		2,013,034
	1,125,000	Apple, Inc		3.200		05/13/25		1,220,136
	2,000,000	Apple, Inc		0.550		08/20/25		1,965,401
	3,000,000	Apple, Inc		0.700		02/08/26		2,942,414
	2,825,000	Apple, Inc		3.250		02/23/26		3,085,511
	1,425,000	Apple, Inc		2.450		08/04/26		1,501,226
	3,250,000	Apple, Inc		2.050		09/11/26		3,364,691
	1,075,000	Apple, Inc		3.350		02/09/27		1,181,069
	275,000	Apple, Inc		3.200		05/11/27		300,196
	3,675,000	Apple, Inc		3.000		11/13/27		3,984,164
	3,000,000	Apple, Inc		1.200		02/08/28		2,888,760
	1,000,000	Apple, Inc		2.200		09/11/29		1,013,269
	2,950,000	Apple, Inc		1.650		05/11/30		2,821,636
	3,000,000	Apple, Inc		1.250		08/20/30		2,774,692
	3,000,000	Apple, Inc		1.650		02/08/31		2,860,485
	1,600,000	Apple, Inc		4.500		02/23/36		1,964,131
	2,000,000	Apple, Inc		2.375		02/08/41		1,858,108
	350,000	Apple, Inc		3.850		05/04/43		395,852
	750,000	Apple, Inc		4.450		05/06/44		909,632
	1,350,000	Apple, Inc		3.450		02/09/45		1,434,862
	1,000,000	Apple, Inc		4.375		05/13/45		1,201,023
	1,775,000	Apple, Inc		4.650		02/23/46		2,207,043
	900,000	Apple, Inc		3.850		08/04/46		1,008,961
	1,175,000	Apple, Inc		4.250		02/09/47		1,398,985

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	900,000		Apple, Inc		3.750	%	09/12/47	$	995,472
	2,850,000		Apple, Inc		3.750		11/13/47		3,126,655
	3,000,000		Apple, Inc		2.950		09/11/49		2,871,997
	1,350,000		Apple, Inc		2.650		05/11/50		1,227,438
	1,375,000		Apple, Inc		2.400		08/20/50		1,184,367
	2,000,000		Apple, Inc		2.650		02/08/51		1,827,563
	25,000		Apple, Inc		2.550		08/20/60		21,511
	2,000,000		Apple, Inc		2.800		02/08/61		1,796,205
	200,000		Arrow Electronics, Inc		3.500		04/01/22		204,686
	425,000		Arrow Electronics, Inc		3.250		09/08/24		454,152
	200,000		Arrow Electronics, Inc		4.000		04/01/25		215,264
	425,000		Arrow Electronics, Inc		3.875		01/12/28		461,201
	200,000		Avnet, Inc		3.750		12/01/21		203,499
	300,000		Avnet, Inc		4.875		12/01/22		318,443
	200,000		Avnet, Inc		4.625		04/15/26		220,827
	828,000		Broadcom Corp		3.875		01/15/27		899,130
	250,000		Broadcom Corp		3.500		01/15/28		265,429
	400,000		Cisco Systems, Inc		3.000		06/15/22		413,153
	500,000		Cisco Systems, Inc		2.600		02/28/23		522,852
	1,100,000		Cisco Systems, Inc		3.625		03/04/24		1,201,066
	400,000		Cisco Systems, Inc		3.500		06/15/25		443,034
	500,000		Cisco Systems, Inc		2.950		02/28/26		542,860
	3,000,000		Cisco Systems, Inc		2.500		09/20/26		3,208,577
	1,000,000		Cisco Systems, Inc		5.900		02/15/39		1,413,867
	1,175,000		Cisco Systems, Inc		5.500		01/15/40		1,590,076
	300,000		Corning, Inc		2.900		05/15/22		306,765
	200,000		Corning, Inc		4.700		03/15/37		228,972
	100,000		Corning, Inc		5.750		08/15/40		127,964
	200,000		Corning, Inc		4.750		03/15/42		233,744
	300,000		Corning, Inc		5.350		11/15/48		383,514
	500,000		Corning, Inc		3.900		11/15/49		541,503
	825,000		Corning, Inc		4.375		11/15/57		901,034
	200,000		Corning, Inc		5.850		11/15/68		264,540
	1,000,000		Corning, Inc		5.450		11/15/79		1,243,674
	4,150,000	g	Dell International LLC		5.450		06/15/23		4,535,355
	875,000	g	Dell International LLC		4.000		07/15/24		949,565
	2,925,000	g	Dell International LLC		6.020		06/15/26		3,462,752
	1,050,000	g	Dell International LLC		4.900		10/01/26		1,191,217
	2,900,000	g	Dell International LLC		5.300		10/01/29		3,392,310
	1,125,000	g	Dell International LLC		8.100		07/15/36		1,647,810
	1,525,000	g	Dell International LLC		8.350		07/15/46		2,320,124
	800,000		Flex Ltd		4.750		06/15/25		892,452
	500,000		Flex Ltd		3.750		02/01/26		536,498
	600,000		Flex Ltd		4.875		06/15/29		677,019
	1,000,000		Flex Ltd		4.875		05/12/30		1,132,260
	1,000,000		FLIR Systems, Inc		2.500		08/01/30		979,031
	500,000		Genpact Luxembourg Sarl		3.375		12/01/24		537,887
	1,000,000		Genpact Luxembourg SARL		1.750		04/10/26		993,534
	1,000,000		Hewlett Packard Enterprise Co		2.250		04/01/23		1,030,031
	500,000		Hewlett Packard Enterprise Co		4.450		10/02/23		543,287
	1,500,000		Hewlett Packard Enterprise Co		1.450		04/01/24		1,524,589
	500,000		Hewlett Packard Enterprise Co		4.650		10/01/24		558,152
	3,000,000		Hewlett Packard Enterprise Co		4.900		10/15/25		3,421,173
	225,000		Hewlett Packard Enterprise Co		6.200		10/15/35		294,307

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	1,175,000		Hewlett Packard Enterprise Co		6.350	%	10/15/45	$	1,530,811
	200,000		HP, Inc		4.050		09/15/22		209,895
	1,000,000		HP, Inc		2.200		06/17/25		1,032,133
	1,000,000		HP, Inc		3.000		06/17/27		1,056,809
	1,000,000		HP, Inc		3.400		06/17/30		1,043,943
	975,000		HP, Inc		6.000		09/15/41		1,228,278
	1,000,000		Jabil, Inc		4.700		09/15/22		1,057,361
	100,000		Jabil, Inc		3.950		01/12/28		111,150
	750,000		Jabil, Inc		3.600		01/15/30		785,448
	550,000		Jabil, Inc		3.000		01/15/31		545,983
	1,500,000		Juniper Networks, Inc		1.200		12/10/25		1,475,530
	750,000		Juniper Networks, Inc		3.750		08/15/29		809,073
	1,500,000		Juniper Networks, Inc		2.000		12/10/30		1,380,333
	200,000		Keysight Technologies, Inc		4.550		10/30/24		223,180
	600,000		Keysight Technologies, Inc		4.600		04/06/27		686,886
	500,000		Keysight Technologies, Inc		3.000		10/30/29		519,109
	182,000		Motorola Solutions, Inc		4.000		09/01/24		199,333
	450,000		Motorola Solutions, Inc		4.600		02/23/28		512,254
	500,000		Motorola Solutions, Inc		4.600		05/23/29		567,153
	600,000		Motorola Solutions, Inc		2.300		11/15/30		567,471
	200,000		Motorola Solutions, Inc		5.500		09/01/44		242,482
	200,000		NetApp, Inc		3.300		09/29/24		215,592
	500,000		NetApp, Inc		1.875		06/22/25		510,380
	500,000		NetApp, Inc		2.375		06/22/27		510,754
	750,000		NetApp, Inc		2.700		06/22/30		744,614
	250,000		Tyco Electronics Group S.A.		3.500		02/03/22		254,628
	200,000		Tyco Electronics Group S.A.		3.450		08/01/24		215,480
	100,000		Tyco Electronics Group S.A.		3.700		02/15/26		109,427
	1,150,000		Tyco Electronics Group S.A.		3.125		08/15/27		1,233,650
	1,000,000	g	Vontier Corp		1.800		04/01/26		994,780
	1,000,000	g	Vontier Corp		2.400		04/01/28		982,490
	1,000,000	g	Vontier Corp		2.950		04/01/31		975,600
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						146,410,473

TELECOMMUNICATION SERVICES - 1.3%
	950,000		America Movil SAB de C.V.		3.125		07/16/22		981,471
	1,000,000		America Movil SAB de C.V.		3.625		04/22/29		1,069,120
	1,000,000		America Movil SAB de C.V.		2.875		05/07/30		1,020,249
	440,000		America Movil SAB de C.V.		6.125		03/30/40		594,208
	1,625,000		America Movil SAB de C.V.		4.375		07/16/42		1,824,603
	1,500,000		America Movil SAB de C.V.		4.375		04/22/49		1,727,205
	625,000		AT&T, Inc		3.000		06/30/22		642,387
	575,000		AT&T, Inc		2.625		12/01/22		592,816
	650,000		AT&T, Inc		4.050		12/15/23		710,133
	1,675,000		AT&T, Inc		4.450		04/01/24		1,837,232
	10,000,000		AT&T, Inc		1.700		03/25/26		9,996,489
	1,150,000		AT&T, Inc		1.650		02/01/28		1,114,087
	4,375,000		AT&T, Inc		4.350		03/01/29		4,948,906
	3,000,000		AT&T, Inc		2.250		02/01/32		2,853,414
	14,855,000	g	AT&T, Inc		2.550		12/01/33		14,103,201
	1,825,000		AT&T, Inc		4.500		05/15/35		2,058,354
	3,000,000		AT&T, Inc		3.500		06/01/41		2,959,320
	900,000		AT&T, Inc		4.900		06/15/42		1,050,284

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	2,000,000		AT&T, Inc		3.100	%	02/01/43	$	1,866,122
	300,000		AT&T, Inc		4.650		06/01/44		337,915
	2,000,000		AT&T, Inc		3.650		06/01/51		1,934,385
	1,175,000		AT&T, Inc		3.300		02/01/52		1,058,261
	11,860,000	g	AT&T, Inc		3.500		09/15/53		10,960,251
	8,857,000	g	AT&T, Inc		3.550		09/15/55		8,105,098
	6,844,000	g	AT&T, Inc		3.800		12/01/57		6,511,290
	8,523,000	g	AT&T, Inc		3.650		09/15/59		7,790,607
	1,000,000		AT&T, Inc		3.850		06/01/60		956,226
	2,000,000		AT&T, Inc		3.500		02/01/61		1,814,787
	1,000,000		Bell Canada		3.650		03/17/51		1,010,917
	750,000		Bell Canada, Inc		4.464		04/01/48		865,917
	750,000		Bell Canada, Inc		4.300		07/29/49		840,856
	750,000		British Telecommunications plc		4.500		12/04/23		820,569
	750,000		British Telecommunications plc		5.125		12/04/28		882,012
	1,425,000		British Telecommunications plc		9.625		12/15/30		2,195,343
	2,690,000		Deutsche Telekom International Finance BV		8.750		06/15/30		3,989,570
	2,000,000		Orange S.A.		4.125		09/14/21		2,030,446
	745,000		Orange S.A.		9.000		03/01/31		1,151,552
	900,000		Orange S.A.		5.375		01/13/42		1,165,593
	725,000		Orange S.A.		5.500		02/06/44		964,400
	200,000		Rogers Communications, Inc		4.100		10/01/23		215,490
	1,713,000		Rogers Communications, Inc		3.625		12/15/25		1,869,098
	200,000		Rogers Communications, Inc		2.900		11/15/26		212,165
	125,000		Rogers Communications, Inc		4.500		03/15/43		137,824
	300,000		Rogers Communications, Inc		5.450		10/01/43		372,846
	600,000		Rogers Communications, Inc		5.000		03/15/44		715,087
	150,000		Rogers Communications, Inc		4.300		02/15/48		163,165
	1,500,000		Rogers Communications, Inc		4.350		05/01/49		1,635,765
	1,300,000		Rogers Communications, Inc		3.700		11/15/49		1,290,810
	225,000		Telefonica Emisiones SAU		4.570		04/27/23		242,526
	1,500,000		Telefonica Emisiones SAU		4.103		03/08/27		1,677,217
	625,000		Telefonica Emisiones SAU		7.045		06/20/36		866,146
	1,200,000		Telefonica Emisiones SAU		4.665		03/06/38		1,355,319
	2,125,000		Telefonica Emisiones SAU		5.213		03/08/47		2,484,722
	1,175,000		Telefonica Emisiones SAU		4.895		03/06/48		1,333,114
	900,000		Telefonica Emisiones SAU		5.520		03/01/49		1,099,618
	567,000		Telefonica Europe BV		8.250		09/15/30		803,336
	325,000		TELUS Corp		2.800		02/16/27		345,616
	300,000		TELUS Corp		3.700		09/15/27		332,921
	500,000		TELUS Corp		4.600		11/16/48		576,631
	750,000		TELUS Corp		4.300		06/15/49		836,399
	1,500,000	g	T-Mobile USA, Inc		3.500		04/15/25		1,618,320
	4,000,000	g	T-Mobile USA, Inc		1.500		02/15/26		3,960,960
	1,500,000	g	T-Mobile USA, Inc		3.750		04/15/27		1,639,740
	3,500,000	g	T-Mobile USA, Inc		2.050		02/15/28		3,431,820
	825,000	g	T-Mobile USA, Inc		3.875		04/15/30		895,422
	1,500,000	g	T-Mobile USA, Inc		2.550		02/15/31		1,469,535
	1,500,000	g	T-Mobile USA, Inc		2.250		11/15/31		1,424,137
	650,000	g	T-Mobile USA, Inc		4.375		04/15/40		722,189
	1,350,000	g	T-Mobile USA, Inc		3.000		02/15/41		1,253,002
	3,875,000	g	T-Mobile USA, Inc		4.500		04/15/50		4,351,199
	2,500,000	g	T-Mobile USA, Inc		3.300		02/15/51		2,336,425
	1,000,000	g	T-Mobile USA, Inc		3.600		11/15/60		960,360

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	5,000,000	e	Verizon Communications, Inc		0.750	%	03/22/24	$	5,005,488
	2,500,000		Verizon Communications, Inc		0.850		11/20/25		2,446,561
	5,000,000		Verizon Communications, Inc		1.450		03/20/26		5,000,405
	700,000		Verizon Communications, Inc		2.625		08/15/26		740,055
	2,625,000		Verizon Communications, Inc		3.000		03/22/27		2,808,809
	5,000,000		Verizon Communications, Inc		2.100		03/22/28		5,020,952
	6,641,000		Verizon Communications, Inc		4.329		09/21/28		7,603,072
	350,000		Verizon Communications, Inc		3.875		02/08/29		389,356
	9,005,000		Verizon Communications, Inc		4.016		12/03/29		10,072,558
	200,000		Verizon Communications, Inc		3.150		03/22/30		210,945
	1,550,000		Verizon Communications, Inc		1.500		09/18/30		1,423,073
	1,533,000	g	Verizon Communications, Inc		1.680		10/30/30		1,422,220
	3,000,000		Verizon Communications, Inc		1.750		01/20/31		2,793,704
	1,925,000		Verizon Communications, Inc		2.550		03/21/31		1,923,253
	2,975,000		Verizon Communications, Inc		4.500		08/10/33		3,455,525
	3,250,000		Verizon Communications, Inc		4.400		11/01/34		3,715,044
	3,775,000		Verizon Communications, Inc		4.272		01/15/36		4,266,822
	2,000,000		Verizon Communications, Inc		2.650		11/20/40		1,827,701
	1,350,000		Verizon Communications, Inc		3.400		03/22/41		1,370,500
	1,158,000		Verizon Communications, Inc		5.012		04/15/49		1,429,333
	150,000		Verizon Communications, Inc		4.000		03/22/50		161,434
	2,000,000		Verizon Communications, Inc		2.875		11/20/50		1,777,564
	2,725,000		Verizon Communications, Inc		3.550		03/22/51		2,721,176
	12,764,000	g	Verizon Communications, Inc		2.987		10/30/56		11,267,325
	2,000,000		Verizon Communications, Inc		3.000		11/20/60		1,736,345
	5,000,000		Verizon Communications, Inc		3.700		03/22/61		4,940,587
	4,000,000		Vodafone Group plc		4.125		05/30/25		4,472,613
	4,425,000		Vodafone Group plc		4.375		05/30/28		5,081,814
	425,000		Vodafone Group plc		6.150		02/27/37		566,405
	925,000		Vodafone Group plc		5.000		05/30/38		1,115,186
	1,900,000		Vodafone Group plc		4.375		02/19/43		2,115,909
	1,450,000		Vodafone Group plc		5.250		05/30/48		1,810,236
	1,000,000		Vodafone Group plc		4.875		06/19/49		1,188,185
	1,500,000		Vodafone Group plc		4.250		09/17/50		1,647,523
	500,000		Vodafone Group plc		5.125		06/19/59		608,161
			TOTAL TELECOMMUNICATION SERVICES						254,100,359

TRANSPORTATION - 0.5%
	678,032		American Airlines, Inc		3.000		10/15/28		683,456
	300,000		Burlington Northern Santa Fe LLC		3.050		03/15/22		305,840
	150,000		Burlington Northern Santa Fe LLC		3.050		09/01/22		154,699
	1,100,000		Burlington Northern Santa Fe LLC		3.850		09/01/23		1,180,768
	500,000		Burlington Northern Santa Fe LLC		3.750		04/01/24		542,364
	150,000		Burlington Northern Santa Fe LLC		3.400		09/01/24		162,547
	300,000		Burlington Northern Santa Fe LLC		3.000		04/01/25		322,944
	700,000		Burlington Northern Santa Fe LLC		3.650		09/01/25		769,426
	660,000		Burlington Northern Santa Fe LLC		5.750		05/01/40		883,433
	250,000		Burlington Northern Santa Fe LLC		5.050		03/01/41		313,978
	200,000		Burlington Northern Santa Fe LLC		4.400		03/15/42		233,797
	300,000		Burlington Northern Santa Fe LLC		4.450		03/15/43		354,127
	500,000		Burlington Northern Santa Fe LLC		5.150		09/01/43		642,999
	500,000		Burlington Northern Santa Fe LLC		4.900		04/01/44		628,254
	600,000		Burlington Northern Santa Fe LLC		4.550		09/01/44		709,423

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	1,275,000		Burlington Northern Santa Fe LLC		4.150	%	04/01/45	$	1,449,493
	200,000		Burlington Northern Santa Fe LLC		4.700		09/01/45		244,424
	1,150,000		Burlington Northern Santa Fe LLC		3.900		08/01/46		1,254,647
	400,000		Burlington Northern Santa Fe LLC		4.125		06/15/47		453,399
	1,675,000		Burlington Northern Santa Fe LLC		4.050		06/15/48		1,877,502
	1,025,000		Burlington Northern Santa Fe LLC		4.150		12/15/48		1,171,831
	750,000		Burlington Northern Santa Fe LLC		3.550		02/15/50		785,169
	750,000		Burlington Northern Santa Fe LLC		3.050		02/15/51		725,416
	4,000,000	h	Burlington Northern Santa Fe LLC		3.300		09/15/51		4,012,113
	100,000		Canadian National Railway Co		2.850		12/15/21		101,144
	300,000		Canadian National Railway Co		2.250		11/15/22		307,120
	200,000		Canadian National Railway Co		2.950		11/21/24		214,231
	200,000		Canadian National Railway Co		6.900		07/15/28		262,430
	200,000		Canadian National Railway Co		6.250		08/01/34		279,050
	250,000		Canadian National Railway Co		3.500		11/15/42		256,428
	100,000		Canadian National Railway Co		4.500		11/07/43		117,754
	650,000		Canadian National Railway Co		3.200		08/02/46		651,503
	725,000		Canadian National Railway Co		3.650		02/03/48		790,499
	325,000		Canadian National Railway Co		4.450		01/20/49		400,346
	400,000		Canadian National Railway Co		2.450		05/01/50		352,510
	1,800,000		Canadian Pacific Railway Co		2.900		02/01/25		1,911,693
	300,000		Canadian Pacific Railway Co		4.000		06/01/28		334,114
	100,000		Canadian Pacific Railway Co		2.050		03/05/30		96,608
	200,000		Canadian Pacific Railway Co		7.125		10/15/31		277,100
	250,000		Canadian Pacific Railway Co		5.950		05/15/37		335,486
	1,275,000		Canadian Pacific Railway Co		6.125		09/15/15		1,859,566
	400,000		CH Robinson Worldwide, Inc		4.200		04/15/28		449,345
	17,638		Continental Airlines, Inc		5.983		04/19/22		18,004
	315,430		Continental Airlines, Inc		4.150		04/11/24		329,478
	130,065		Continental Airlines, Inc		4.000		10/29/24		134,313
	300,000		CSX Corp		3.400		08/01/24		324,191
	200,000		CSX Corp		3.350		11/01/25		217,701
	1,200,000		CSX Corp		2.600		11/01/26		1,268,156
	825,000		CSX Corp		4.250		03/15/29		936,971
	600,000		CSX Corp		2.400		02/15/30		603,324
	100,000		CSX Corp		6.000		10/01/36		135,375
	200,000		CSX Corp		6.150		05/01/37		272,933
	400,000		CSX Corp		5.500		04/15/41		517,727
	350,000		CSX Corp		4.400		03/01/43		399,231
	600,000		CSX Corp		4.100		03/15/44		661,810
	800,000		CSX Corp		3.800		11/01/46		846,466
	1,050,000		CSX Corp		4.300		03/01/48		1,196,854
	850,000		CSX Corp		4.750		11/15/48		1,021,683
	500,000		CSX Corp		4.500		03/15/49		578,259
	600,000		CSX Corp		3.350		09/15/49		588,909
	1,000,000		CSX Corp		3.800		04/15/50		1,061,111
	200,000		CSX Corp		3.950		05/01/50		216,091
	800,000		CSX Corp		2.500		05/15/51		677,094
	300,000		CSX Corp		4.500		08/01/54		353,674
	150,000		CSX Corp		4.250		11/01/66		170,425
	300,000		CSX Corp		4.650		03/01/68		363,879
	95,130		Delta Air Lines, Inc		3.625		07/30/27		101,570
	291,031		Delta Air Lines, Inc		2.000		06/10/28		291,465
	300,000		FedEx Corp		4.000		01/15/24		326,095

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	100,000	FedEx Corp		3.200	%	02/01/25	$	107,778
	500,000	FedEx Corp		3.800		05/15/25		549,556
	500,000	FedEx Corp		3.250		04/01/26		540,914
	400,000	FedEx Corp		3.300		03/15/27		434,238
	1,250,000	FedEx Corp		3.400		02/15/28		1,363,230
	500,000	FedEx Corp		4.200		10/17/28		572,241
	2,000,000	FedEx Corp		3.100		08/05/29		2,097,443
	500,000	FedEx Corp		4.250		05/15/30		569,004
	1,000,000	FedEx Corp		4.900		01/15/34		1,203,492
	200,000	FedEx Corp		3.900		02/01/35		217,935
	275,000	FedEx Corp		5.100		01/15/44		332,868
	1,100,000	FedEx Corp		4.750		11/15/45		1,287,921
	600,000	FedEx Corp		4.550		04/01/46		679,815
	450,000	FedEx Corp		4.400		01/15/47		509,856
	900,000	FedEx Corp		4.050		02/15/48		980,821
	500,000	FedEx Corp		4.950		10/17/48		609,291
	1,500,000	FedEx Corp		5.250		05/15/50		1,921,559
	200,000	FedEx Corp		4.500		02/01/65		215,065
	200,000	JB Hunt Transport Services, Inc		3.300		08/15/22		206,414
	500,000	JB Hunt Transport Services, Inc		3.875		03/01/26		552,216
	481,711	JetBlue Pass Through Trust		2.750		05/15/32		484,004
	1,000,000	JetBlue Pass Through Trust		4.000		11/15/32		1,078,624
	100,000	Kansas City Southern		3.000		05/15/23		104,267
	100,000	Kansas City Southern		3.125		06/01/26		106,950
	500,000	Kansas City Southern		2.875		11/15/29		511,162
	100,000	Kansas City Southern		4.300		05/15/43		109,628
	175,000	Kansas City Southern		4.950		08/15/45		209,684
	800,000	Kansas City Southern		4.700		05/01/48		940,936
	500,000	Kansas City Southern		3.500		05/01/50		500,700
	500,000	Kansas City Southern		4.200		11/15/69		517,881
	350,000	Kirby Corp		4.200		03/01/28		381,187
	100,000	Norfolk Southern Corp		3.250		12/01/21		101,190
	250,000	Norfolk Southern Corp		3.000		04/01/22		254,922
	1,291,000	Norfolk Southern Corp		2.903		02/15/23		1,339,641
	350,000	Norfolk Southern Corp		2.900		06/15/26		374,925
	300,000	Norfolk Southern Corp		3.150		06/01/27		324,238
	700,000	Norfolk Southern Corp		3.800		08/01/28		778,687
	16,000	Norfolk Southern Corp		4.837		10/01/41		19,444
	300,000	Norfolk Southern Corp		4.450		06/15/45		348,591
	200,000	Norfolk Southern Corp		4.650		01/15/46		239,679
	303,000	Norfolk Southern Corp		3.942		11/01/47		328,259
	1,450,000	Norfolk Southern Corp		4.150		02/28/48		1,615,815
	500,000	Norfolk Southern Corp		4.100		05/15/49		559,500
	500,000	Norfolk Southern Corp		3.400		11/01/49		497,066
	1,000,000	Norfolk Southern Corp		3.050		05/15/50		948,287
	175,000	Norfolk Southern Corp		4.050		08/15/52		192,940
	1,170,000	Norfolk Southern Corp		3.155		05/15/55		1,087,585
	500,000	Ryder System, Inc		2.875		06/01/22		512,443
	500,000	Ryder System, Inc		2.500		09/01/22		512,957
	200,000	Ryder System, Inc		3.400		03/01/23		209,901
	200,000	Ryder System, Inc		3.750		06/09/23		213,155
	200,000	Ryder System, Inc		3.875		12/01/23		216,153
	550,000	Ryder System, Inc		3.650		03/18/24		593,707

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	500,000		Ryder System, Inc		2.500	%	09/01/24	$	523,902
	300,000		Ryder System, Inc		4.625		06/01/25		338,073
	500,000		Ryder System, Inc		3.350		09/01/25		539,910
	500,000		Ryder System, Inc		2.900		12/01/26		531,620
	200,000		Southwest Airlines Co		2.750		11/16/22		205,447
	1,250,000		Southwest Airlines Co		4.750		05/04/23		1,349,619
	1,250,000		Southwest Airlines Co		5.250		05/04/25		1,422,273
	200,000		Southwest Airlines Co		3.000		11/15/26		210,847
	1,000,000		Southwest Airlines Co		5.125		06/15/27		1,149,670
	200,000		Southwest Airlines Co		3.450		11/16/27		210,937
	300,000		Southwest Airlines Co		2.625		02/10/30		294,632
	70,809		Spirit Airlines, Inc		4.100		04/01/28		70,699
	300,000		Union Pacific Corp		2.950		03/01/22		307,238
	506,000		Union Pacific Corp		4.163		07/15/22		526,038
	500,000		Union Pacific Corp		2.950		01/15/23		518,007
	300,000		Union Pacific Corp		3.500		06/08/23		318,495
	277,000	e	Union Pacific Corp		3.646		02/15/24		296,868
	300,000		Union Pacific Corp		3.150		03/01/24		320,929
	200,000		Union Pacific Corp		3.750		03/15/24		215,459
	200,000		Union Pacific Corp		3.250		01/15/25		214,373
	500,000		Union Pacific Corp		3.750		07/15/25		549,215
	200,000		Union Pacific Corp		3.250		08/15/25		216,211
	300,000		Union Pacific Corp		2.750		03/01/26		317,754
	500,000		Union Pacific Corp		2.150		02/05/27		513,557
	1,825,000		Union Pacific Corp		3.950		09/10/28		2,044,746
	700,000		Union Pacific Corp		3.700		03/01/29		770,366
	100,000		Union Pacific Corp		3.375		02/01/35		106,111
	100,000		Union Pacific Corp		3.600		09/15/37		106,752
	500,000		Union Pacific Corp		3.550		08/15/39		531,300
	200,000		Union Pacific Corp		4.050		11/15/45		217,327
	200,000		Union Pacific Corp		3.350		08/15/46		200,117
	300,000		Union Pacific Corp		4.000		04/15/47		326,780
	1,000,000		Union Pacific Corp		3.250		02/05/50		984,747
	1,070,000		Union Pacific Corp		3.799		10/01/51		1,148,715
	200,000		Union Pacific Corp		3.875		02/01/55		211,710
	300,000		Union Pacific Corp		3.950		08/15/59		322,983
	1,925,000		Union Pacific Corp		3.839		03/20/60		2,045,884
	2,950,000	g	Union Pacific Corp		2.973		09/16/62		2,626,541
	300,000		Union Pacific Corp		4.375		11/15/65		344,850
	200,000		Union Pacific Corp		4.100		09/15/67		214,225
	500,000		Union Pacific Corp		3.750		02/05/70		511,320
	165,665		Union Pacific Railroad Co		2.695		05/12/27		175,313
	250,000		United Airlines 2020-, Cl B Pass Through Trust		4.875		01/15/26		259,375
	500,000		United Parcel Service, Inc		2.350		05/16/22		510,612
	1,675,000		United Parcel Service, Inc		2.450		10/01/22		1,727,002
	500,000		United Parcel Service, Inc		2.200		09/01/24		524,554
	300,000		United Parcel Service, Inc		2.800		11/15/24		320,709
	125,000		United Parcel Service, Inc		2.400		11/15/26		133,031
	875,000		United Parcel Service, Inc		3.050		11/15/27		956,126
	500,000		United Parcel Service, Inc		3.400		03/15/29		543,507
	500,000		United Parcel Service, Inc		2.500		09/01/29		509,669
	750,000		United Parcel Service, Inc		4.450		04/01/30		876,601
	510,000		United Parcel Service, Inc		6.200		01/15/38		716,338
	450,000		United Parcel Service, Inc		3.625		10/01/42		477,041

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	400,000		United Parcel Service, Inc		3.400	%	11/15/46	$	408,537
	1,550,000		United Parcel Service, Inc		3.750		11/15/47		1,669,837
	300,000		United Parcel Service, Inc		4.250		03/15/49		352,647
	500,000		United Parcel Service, Inc		3.400		09/01/49		522,698
	1,630,000		United Parcel Service, Inc		5.300		04/01/50		2,210,451
			TOTAL TRANSPORTATION						110,407,825

UTILITIES - 2.3%
	200,000		AEP Texas, Inc		2.400		10/01/22		205,379
	200,000		AEP Texas, Inc		3.950		06/01/28		221,284
	550,000		AEP Texas, Inc		2.100		07/01/30		529,091
	200,000		AEP Texas, Inc		3.800		10/01/47		205,880
	100,000		AEP Texas, Inc		4.150		05/01/49		108,831
	200,000		AEP Transmission Co LLC		3.100		12/01/26		216,149
	600,000		AEP Transmission Co LLC		4.000		12/01/46		658,571
	500,000		AEP Transmission Co LLC		3.750		12/01/47		531,824
	200,000		AEP Transmission Co LLC		4.250		09/15/48		230,016
	300,000		AEP Transmission Co LLC		3.800		06/15/49		324,751
	600,000	g	AES Corp		1.375		01/15/26		584,786
	675,000	g	AES Corp		2.450		01/15/31		645,355
	475,000		Alabama Power Co		3.550		12/01/23		512,870
	575,000		Alabama Power Co		1.450		09/15/30		529,490
	200,000		Alabama Power Co		3.850		12/01/42		216,413
	400,000		Alabama Power Co		3.750		03/01/45		426,797
	300,000		Alabama Power Co		4.300		01/02/46		339,805
	350,000		Alabama Power Co		3.700		12/01/47		367,071
	1,000,000		Alabama Power Co		4.300		07/15/48		1,160,391
	350,000		Ameren Corp		2.500		09/15/24		367,966
	2,000,000		Ameren Corp		1.750		03/15/28		1,933,150
	600,000		Ameren Illinois Co		2.700		09/01/22		615,622
	300,000		Ameren Illinois Co		3.800		05/15/28		331,117
	750,000		Ameren Illinois Co		1.550		11/15/30		699,581
	125,000		Ameren Illinois Co		4.150		03/15/46		141,411
	1,150,000		Ameren Illinois Co		3.700		12/01/47		1,233,066
	575,000		Ameren Illinois Co		4.500		03/15/49		692,155
	300,000		American Electric Power Co, Inc		3.650		12/01/21		306,464
	1,000,000		American Electric Power Co, Inc		0.750		11/01/23		999,783
	1,000,000		American Electric Power Co, Inc		1.000		11/01/25		979,910
	350,000		American Electric Power Co, Inc		3.200		11/13/27		377,371
	700,000		American Electric Power Co, Inc		4.300		12/01/28		787,151
	500,000		American Electric Power Co, Inc		2.300		03/01/30		487,791
	500,000		American Water Capital Corp		3.850		03/01/24		540,124
	300,000		American Water Capital Corp		3.400		03/01/25		325,555
	200,000		American Water Capital Corp		2.950		09/01/27		212,991
	500,000		American Water Capital Corp		3.750		09/01/28		556,129
	750,000		American Water Capital Corp		3.450		06/01/29		813,872
	100,000		American Water Capital Corp		2.800		05/01/30		102,844
	225,000		American Water Capital Corp		4.300		12/01/42		254,857
	150,000		American Water Capital Corp		4.300		09/01/45		171,888
	100,000		American Water Capital Corp		4.000		12/01/46		108,909
	1,175,000		American Water Capital Corp		3.750		09/01/47		1,253,113
	500,000		American Water Capital Corp		4.200		09/01/48		573,973
	500,000		American Water Capital Corp		4.150		06/01/49		575,262

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	675,000	American Water Capital Corp		3.450	%	05/01/50	$	682,511
	200,000	Appalachian Power Co		3.300		06/01/27		215,218
	1,000,000	Appalachian Power Co		2.700		04/01/31		997,333
	300,000	Appalachian Power Co		4.500		03/01/49		341,348
	775,000	Appalachian Power Co		3.700		05/01/50		784,264
	125,000	Aqua America, Inc		3.566		05/01/29		134,534
	200,000	Aqua America, Inc		4.276		05/01/49		222,000
	200,000	Arizona Public Service Co		2.950		09/15/27		215,076
	1,000,000	Arizona Public Service Co		2.600		08/15/29		1,024,241
	350,000	Arizona Public Service Co		4.500		04/01/42		400,530
	200,000	Arizona Public Service Co		4.350		11/15/45		228,961
	410,000	Arizona Public Service Co		3.750		05/15/46		427,063
	200,000	Arizona Public Service Co		4.200		08/15/48		224,664
	200,000	Arizona Public Service Co		4.250		03/01/49		227,880
	300,000	Arizona Public Service Co		3.500		12/01/49		305,839
	500,000	Arizona Public Service Co		3.350		05/15/50		495,480
	750,000	Arizona Public Service Co		2.650		09/15/50		650,124
	900,000	Atlantic City Electric Co		4.000		10/15/28		1,004,895
	425,000	Atlantic City Electric Co		2.300		03/15/31		420,000
	1,000,000	Atmos Energy Corp		0.625		03/09/23		1,000,378
	650,000	Atmos Energy Corp		3.000		06/15/27		693,511
	500,000	Atmos Energy Corp		2.625		09/15/29		508,138
	750,000	Atmos Energy Corp		1.500		01/15/31		685,090
	100,000	Atmos Energy Corp		5.500		06/15/41		127,754
	125,000	Atmos Energy Corp		4.150		01/15/43		137,056
	600,000	Atmos Energy Corp		4.125		10/15/44		657,473
	500,000	Atmos Energy Corp		4.300		10/01/48		571,547
	300,000	Atmos Energy Corp		4.125		03/15/49		333,007
	500,000	Atmos Energy Corp		3.375		09/15/49		496,992
	500,000	Avangrid, Inc		3.150		12/01/24		537,360
	300,000	Avangrid, Inc		3.200		04/15/25		321,195
	625,000	Avangrid, Inc		3.800		06/01/29		687,520
	150,000	Avista Corp		4.350		06/01/48		172,170
	100,000	Baltimore Gas & Electric Co		3.500		11/15/21		101,144
	200,000	Baltimore Gas & Electric Co		2.400		08/15/26		209,065
	150,000	Baltimore Gas & Electric Co		3.500		08/15/46		153,164
	200,000	Baltimore Gas & Electric Co		3.750		08/15/47		213,926
	200,000	Baltimore Gas & Electric Co		4.250		09/15/48		231,994
	500,000	Baltimore Gas & Electric Co		3.200		09/15/49		485,507
	775,000	Baltimore Gas & Electric Co		2.900		06/15/50		716,609
	200,000	Berkshire Hathaway Energy Co		2.800		01/15/23		207,949
	350,000	Berkshire Hathaway Energy Co		3.500		02/01/25		378,839
	175,000	Berkshire Hathaway Energy Co		3.250		04/15/28		188,653
	2,500,000	Berkshire Hathaway Energy Co		1.650		05/15/31		2,324,127
	950,000	Berkshire Hathaway Energy Co		6.125		04/01/36		1,280,791
	1,032,000	Berkshire Hathaway Energy Co		5.950		05/15/37		1,370,235
	725,000	Berkshire Hathaway Energy Co		5.150		11/15/43		899,330
	975,000	Berkshire Hathaway Energy Co		4.500		02/01/45		1,130,220
	1,250,000	Berkshire Hathaway Energy Co		3.800		07/15/48		1,330,129
	1,025,000	Berkshire Hathaway Energy Co		4.450		01/15/49		1,201,171
	2,500,000	Berkshire Hathaway Energy Co		2.850		05/15/51		2,240,081
	200,000	Black Hills Corp		4.250		11/30/23		216,934
	100,000	Black Hills Corp		3.950		01/15/26		109,561
	100,000	Black Hills Corp		3.150		01/15/27		106,712

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	550,000	Black Hills Corp		2.500	%	06/15/30	$	540,343
	300,000	Black Hills Corp		4.350		05/01/33		334,520
	200,000	Black Hills Corp		4.200		09/15/46		210,243
	400,000	CenterPoint Energy Houston Electric LLC		2.250		08/01/22		408,298
	200,000	CenterPoint Energy Houston Electric LLC		2.400		09/01/26		210,109
	300,000	CenterPoint Energy Houston Electric LLC		3.000		02/01/27		321,736
	275,000	CenterPoint Energy Houston Electric LLC		2.350		04/01/31		275,080
	100,000	CenterPoint Energy Houston Electric LLC		6.950		03/15/33		137,967
	300,000	CenterPoint Energy Houston Electric LLC		3.950		03/01/48		332,920
	750,000	CenterPoint Energy Houston Electric LLC		4.250		02/01/49		870,679
	150,000	CenterPoint Energy Houston Electric LLC		2.900		07/01/50		140,352
	875,000	CenterPoint Energy Houston Electric LLC		3.350		04/01/51		879,828
	1,000,000	CenterPoint Energy Resources Corp		0.700		03/02/23		999,686
	200,000	CenterPoint Energy Resources Corp		4.000		04/01/28		219,155
	575,000	CenterPoint Energy Resources Corp		1.750		10/01/30		527,908
	700,000	CenterPoint Energy Resources Corp		4.100		09/01/47		733,667
	300,000	CenterPoint Energy, Inc		2.500		09/01/22		308,080
	213,000	CenterPoint Energy, Inc		3.850		02/01/24		230,731
	500,000	CenterPoint Energy, Inc		2.500		09/01/24		524,256
	450,000	CenterPoint Energy, Inc		4.250		11/01/28		504,697
	750,000	CenterPoint Energy, Inc		2.950		03/01/30		769,604
	500,000	CenterPoint Energy, Inc		3.700		09/01/49		494,236
	3,200,000	Cheniere Corpus Christi Holdings LLC		3.700		11/15/29		3,372,668
	425,000	Cleco Corporate Holdings LLC		3.743		05/01/26		461,309
	300,000	Cleco Corporate Holdings LLC		3.375		09/15/29		302,612
	200,000	Cleco Corporate Holdings LLC		4.973		05/01/46		220,814
	790,000	CMS Energy Corp		3.450		08/15/27		868,094
	1,000,000	CMS Energy Corp		3.750		12/01/50		990,000
	250,000	Commonwealth Edison Co		2.550		06/15/26		264,047
	1,355,000	Commonwealth Edison Co		2.950		08/15/27		1,446,327
	300,000	Commonwealth Edison Co		3.700		08/15/28		334,105
	500,000	Commonwealth Edison Co		2.200		03/01/30		495,758
	200,000	Commonwealth Edison Co		3.800		10/01/42		215,647
	300,000	Commonwealth Edison Co		4.700		01/15/44		357,059
	100,000	Commonwealth Edison Co		3.700		03/01/45		106,343
	250,000	Commonwealth Edison Co		3.650		06/15/46		266,526
	400,000	Commonwealth Edison Co		3.750		08/15/47		431,075
	1,175,000	Commonwealth Edison Co		4.000		03/01/48		1,313,782
	1,300,000	Commonwealth Edison Co		4.000		03/01/49		1,458,183
	500,000	Commonwealth Edison Co		3.200		11/15/49		489,445
	500,000	Commonwealth Edison Co		3.000		03/01/50		474,643
	1,000,000	Commonwealth Edison Co		3.125		03/15/51		970,212
	625,000	Connecticut Light & Power Co		3.200		03/15/27		678,976
	400,000	Connecticut Light & Power Co		4.300		04/15/44		463,562
	250,000	Connecticut Light & Power Co		4.150		06/01/45		290,585
	775,000	Connecticut Light & Power Co		4.000		04/01/48		878,673
	1,000,000	Connecticut Light and Power Co		0.750		12/01/25		981,663
	200,000	Consolidated Edison Co of New York, Inc		3.800		05/15/28		219,723
	300,000	Consolidated Edison Co of New York, Inc		4.000		12/01/28		335,953
	100,000	Consolidated Edison Co of New York, Inc		3.350		04/01/30		106,954
	200,000	Consolidated Edison Co of New York, Inc		4.200		03/15/42		222,565
	550,000	Consolidated Edison Co of New York, Inc		3.950		03/01/43		594,324
	1,475,000	Consolidated Edison Co of New York, Inc		4.450		03/15/44		1,702,275

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	150,000		Consolidated Edison Co of New York, Inc		4.500	%	12/01/45	$	173,278
	400,000		Consolidated Edison Co of New York, Inc		3.850		06/15/46		418,937
	400,000		Consolidated Edison Co of New York, Inc		3.875		06/15/47		423,976
	300,000		Consolidated Edison Co of New York, Inc		4.650		12/01/48		355,779
	500,000		Consolidated Edison Co of New York, Inc		4.125		05/15/49		555,924
	700,000		Consolidated Edison Co of New York, Inc		3.950		04/01/50		759,340
	850,000		Consolidated Edison Co of New York, Inc		4.625		12/01/54		1,003,075
	200,000		Consolidated Edison Co of New York, Inc		4.300		12/01/56		217,810
	1,300,000		Consolidated Edison Co of New York, Inc		4.000		11/15/57		1,358,330
	400,000		Consolidated Edison Co of New York, Inc		4.500		05/15/58		458,979
	1,000,000		Consolidated Edison Co of New York, Inc		3.700		11/15/59		986,376
	1,000,000		Consolidated Edison Co of New York, Inc		3.000		12/01/60		870,516
	1,000,000		Consolidated Edison, Inc		0.650		12/01/23		998,258
	1,300,000		Consumers Energy Co		0.350		06/01/23		1,297,850
	200,000		Consumers Energy Co		3.375		08/15/23		212,047
	250,000		Consumers Energy Co		3.800		11/15/28		278,215
	600,000		Consumers Energy Co		3.950		07/15/47		674,549
	600,000		Consumers Energy Co		4.050		05/15/48		689,120
	350,000		Consumers Energy Co		4.350		04/15/49		418,781
	500,000		Consumers Energy Co		3.750		02/15/50		551,544
	500,000		Consumers Energy Co		3.100		08/15/50		491,897
	150,000		Consumers Energy Co		3.500		08/01/51		157,882
	1,000,000		Consumers Energy Co		2.500		05/01/60		830,348
	300,000		Dayton Power & Light Co		3.950		06/15/49		310,049
	200,000		Delmarva Power & Light Co		4.150		05/15/45		221,427
	200,000		Dominion Energy Gas Holdings LLC		3.550		11/01/23		212,775
	250,000		Dominion Energy Gas Holdings LLC		2.500		11/15/24		262,842
	200,000		Dominion Energy Gas Holdings LLC		3.600		12/15/24		217,297
	750,000		Dominion Energy Gas Holdings LLC		3.000		11/15/29		777,996
	200,000		Dominion Energy Gas Holdings LLC		4.800		11/01/43		228,420
	200,000		Dominion Energy Gas Holdings LLC		4.600		12/15/44		223,392
	1,550,000		Dominion Energy Gas Holdings LLC		3.900		11/15/49		1,581,924
	300,000		Dominion Energy, Inc		3.300		03/15/25		322,001
	1,750,000		Dominion Energy, Inc		3.900		10/01/25		1,924,901
	1,000,000	h	Dominion Energy, Inc		1.450		04/15/26		995,998
	775,000		Dominion Energy, Inc		3.600		03/15/27		855,402
	500,000		Dominion Energy, Inc		4.250		06/01/28		565,596
	303,000		Dominion Energy, Inc		3.375		04/01/30		322,610
	475,000	h	Dominion Energy, Inc		3.300		04/15/41		467,583
	200,000		Dominion Energy, Inc		4.700		12/01/44		235,221
	500,000		Dominion Energy, Inc		4.600		03/15/49		592,969
	225,000		Dominion Energy, Inc (Step Bond)		3.071		08/15/24		239,619
	200,000		DTE Electric Co		3.650		03/15/24		214,723
	500,000		DTE Electric Co		1.900		04/01/28		498,707
	200,000		DTE Electric Co		4.000		04/01/43		221,242
	100,000		DTE Electric Co		3.700		06/01/46		106,159
	500,000		DTE Electric Co		3.750		08/15/47		538,664
	1,000,000		DTE Electric Co		4.050		05/15/48		1,132,852
	525,000		DTE Electric Co		3.950		03/01/49		586,818
	1,000,000		DTE Electric Co		2.950		03/01/50		948,575
	400,000		DTE Electric Co		3.250		04/01/51		398,845
	350,000		DTE Energy Co		2.600		06/15/22		358,268
	200,000		DTE Energy Co		3.300		06/15/22		205,622
	1,500,000		DTE Energy Co		0.550		11/01/22		1,500,240

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	1,875,000	DTE Energy Co		3.700	%	08/01/23	$	1,997,462
	200,000	DTE Energy Co		3.850		12/01/23		215,020
	200,000	DTE Energy Co		3.500		06/01/24		213,962
	1,000,000	DTE Energy Co		1.050		06/01/25		986,961
	350,000	DTE Energy Co		3.400		06/15/29		371,347
	500,000	DTE Energy Co		2.950		03/01/30		508,608
	300,000	Duke Energy Carolinas LLC		3.350		05/15/22		310,106
	200,000	Duke Energy Carolinas LLC		2.500		03/15/23		207,560
	2,000,000	Duke Energy Carolinas LLC		3.050		03/15/23		2,103,126
	200,000	Duke Energy Carolinas LLC		2.950		12/01/26		215,353
	500,000	Duke Energy Carolinas LLC		3.950		11/15/28		562,630
	500,000	Duke Energy Carolinas LLC		2.450		08/15/29		505,906
	1,500,000	Duke Energy Carolinas LLC		2.550		04/15/31		1,509,810
	125,000	Duke Energy Carolinas LLC		5.300		02/15/40		160,609
	300,000	Duke Energy Carolinas LLC		3.750		06/01/45		320,845
	200,000	Duke Energy Carolinas LLC		3.875		03/15/46		215,861
	1,750,000	Duke Energy Carolinas LLC		3.700		12/01/47		1,858,972
	1,500,000	Duke Energy Carolinas LLC		3.950		03/15/48		1,645,431
	1,000,000	Duke Energy Carolinas LLC		3.200		08/15/49		980,660
	1,500,000	Duke Energy Carolinas LLC		3.450		04/15/51		1,532,062
	300,000	Duke Energy Corp		3.050		08/15/22		308,592
	300,000	Duke Energy Corp		3.950		10/15/23		322,596
	1,000,000	Duke Energy Corp		0.900		09/15/25		978,309
	2,700,000	Duke Energy Corp		2.650		09/01/26		2,825,100
	350,000	Duke Energy Corp		3.150		08/15/27		372,840
	1,000,000	Duke Energy Corp		2.450		06/01/30		986,761
	300,000	Duke Energy Corp		4.800		12/15/45		344,829
	3,475,000	Duke Energy Corp		3.750		09/01/46		3,494,725
	500,000	Duke Energy Corp		4.200		06/15/49		530,018
	1,200,000	Duke Energy Florida LLC		3.100		08/15/21		1,203,662
	1,200,000	Duke Energy Florida LLC		3.200		01/15/27		1,297,294
	375,000	Duke Energy Florida LLC		6.400		06/15/38		532,723
	500,000	Duke Energy Florida LLC		3.400		10/01/46		508,684
	300,000	Duke Energy Florida LLC		4.200		07/15/48		343,520
	300,000	Duke Energy Indiana LLC		3.750		05/15/46		313,609
	500,000	Duke Energy Indiana LLC		3.250		10/01/49		493,434
	275,000	Duke Energy Indiana LLC		2.750		04/01/50		246,613
	200,000	Duke Energy Ohio, Inc		3.650		02/01/29		217,490
	25,000	Duke Energy Ohio, Inc		2.125		06/01/30		24,320
	200,000	Duke Energy Ohio, Inc		3.700		06/15/46		208,697
	200,000	Duke Energy Ohio, Inc		4.300		02/01/49		227,938
	350,000	Duke Energy Progress LLC		3.000		09/15/21		351,830
	150,000	Duke Energy Progress LLC		2.800		05/15/22		153,116
	300,000	Duke Energy Progress LLC		3.375		09/01/23		319,234
	300,000	Duke Energy Progress LLC		3.250		08/15/25		324,087
	300,000	Duke Energy Progress LLC		3.700		09/01/28		332,262
	5,357,000	Duke Energy Progress LLC		3.450		03/15/29		5,823,038
	400,000	Duke Energy Progress LLC		4.375		03/30/44		463,270
	500,000	Duke Energy Progress LLC		4.150		12/01/44		565,531
	300,000	Duke Energy Progress LLC		4.200		08/15/45		339,195
	500,000	Duke Energy Progress LLC		3.700		10/15/46		526,221
	200,000	Duke Energy Progress LLC		3.600		09/15/47		208,595
	600,000	Duke Energy Progress LLC		2.500		08/15/50		511,309

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	200,000	Edison International		2.400	%	09/15/22	$	203,953
	300,000	Edison International		3.125		11/15/22		310,041
	800,000	Edison International		3.550		11/15/24		859,591
	750,000	Edison International		5.750		06/15/27		874,914
	300,000	Edison International		4.125		03/15/28		321,913
	200,000	El Paso Electric Co		5.000		12/01/44		224,921
	300,000	Emera US Finance LP		2.700		06/15/21		300,785
	1,075,000	Emera US Finance LP		3.550		06/15/26		1,165,688
	625,000	Emera US Finance LP		4.750		06/15/46		696,713
	50,000	Empresa Nacional de Electricidad S.A.		4.250		04/15/24		53,722
	675,000	Enel Chile S.A.		4.875		06/12/28		781,650
	400,000	Enersis Americas S.A.		4.000		10/25/26		436,876
	175,000	Entergy Arkansas LLC		3.700		06/01/24		189,925
	600,000	Entergy Arkansas LLC		3.500		04/01/26		655,379
	200,000	Entergy Arkansas LLC		4.200		04/01/49		224,043
	425,000	Entergy Arkansas LLC		2.650		06/15/51		373,455
	750,000	Entergy Arkansas LLC		3.350		06/15/52		752,348
	200,000	Entergy Corp		4.000		07/15/22		207,717
	1,000,000	Entergy Corp		0.900		09/15/25		976,513
	1,300,000	Entergy Corp		2.950		09/01/26		1,385,872
	1,000,000	Entergy Corp		1.900		06/15/28		976,657
	175,000	Entergy Corp		2.800		06/15/30		176,216
	625,000	Entergy Corp		2.400		06/15/31		603,856
	500,000	Entergy Corp		3.750		06/15/50		501,810
	200,000	Entergy Louisiana LLC		4.050		09/01/23		215,005
	1,000,000	Entergy Louisiana LLC		0.620		11/17/23		1,001,324
	200,000	Entergy Louisiana LLC		2.400		10/01/26		207,907
	200,000	Entergy Louisiana LLC		3.120		09/01/27		216,471
	1,000,000	Entergy Louisiana LLC		1.600		12/15/30		931,425
	1,000,000	Entergy Louisiana LLC		2.350		06/15/32		985,098
	500,000	Entergy Louisiana LLC		4.000		03/15/33		569,479
	1,000,000	Entergy Louisiana LLC		3.100		06/15/41		1,002,653
	300,000	Entergy Louisiana LLC		4.200		09/01/48		337,834
	300,000	Entergy Louisiana LLC		4.200		04/01/50		338,572
	875,000	Entergy Louisiana LLC		2.900		03/15/51		803,057
	800,000	Entergy Mississippi LLC		3.850		06/01/49		839,671
	475,000	Entergy Mississippi LLC		3.500		06/01/51		481,297
	1,000,000	Entergy Texas, Inc		4.000		03/30/29		1,109,095
	575,000	Entergy Texas, Inc		1.750		03/15/31		533,825
	200,000	Entergy Texas, Inc		4.500		03/30/39		225,815
	700,000	Entergy Texas, Inc		3.550		09/30/49		695,408
	225,000	Essential Utilities, Inc		2.704		04/15/30		226,791
	300,000	Essential Utilities, Inc		3.351		04/15/50		290,299
	425,000	Evergy Kansas Central, Inc		3.450		04/15/50		429,870
	150,000	Evergy Metro, Inc		2.250		06/01/30		148,133
	200,000	Evergy, Inc		4.850		06/01/21		200,000
	1,100,000	Evergy, Inc		2.450		09/15/24		1,151,694
	750,000	Evergy, Inc		2.900		09/15/29		764,353
	750,000	Eversource Energy		2.750		03/15/22		765,120
	300,000	Eversource Energy		3.800		12/01/23		324,181
	300,000	Eversource Energy		2.900		10/01/24		319,896
	100,000	Eversource Energy		0.800		08/15/25		97,476
	200,000	Eversource Energy		3.300		01/15/28		213,652
	300,000	Eversource Energy		4.250		04/01/29		340,632

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	100,000		Eversource Energy		1.650	%	08/15/30	$	92,744
	1,000,000		Eversource Energy		2.550		03/15/31		1,000,269
	1,100,000		Eversource Energy		3.450		01/15/50		1,092,745
	1,122,000		Exelon Corp		2.450		04/15/21		1,122,628
	1,200,000		Exelon Corp		3.497		06/01/22		1,237,714
	425,000		Exelon Corp		3.400		04/15/26		459,787
	500,000		Exelon Corp		4.950		06/15/35		589,082
	975,000		Exelon Corp		4.450		04/15/46		1,117,680
	100,000		Exelon Corp		4.700		04/15/50		119,781
	150,000		Exelon Generation Co LLC		3.400		03/15/22		153,768
	200,000		Exelon Generation Co LLC		4.250		06/15/22		206,778
	2,500,000		Exelon Generation Co LLC		3.250		06/01/25		2,669,138
	900,000		Exelon Generation Co LLC		6.250		10/01/39		1,044,650
	625,000		Exelon Generation Co LLC		5.600		06/15/42		686,847
	400,000		Florida Power & Light Co		2.750		06/01/23		415,111
	500,000		Florida Power & Light Co		3.250		06/01/24		534,988
	907,000		Florida Power & Light Co		3.125		12/01/25		978,745
	100,000		Florida Power & Light Co		4.125		02/01/42		114,558
	200,000		Florida Power & Light Co		4.050		06/01/42		226,314
	450,000		Florida Power & Light Co		3.800		12/15/42		491,238
	400,000		Florida Power & Light Co		4.050		10/01/44		452,306
	500,000		Florida Power & Light Co		3.700		12/01/47		543,492
	1,675,000		Florida Power & Light Co		3.950		03/01/48		1,910,543
	500,000		Florida Power & Light Co		4.125		06/01/48		582,447
	1,100,000		Florida Power & Light Co		3.990		03/01/49		1,265,151
	400,000		Florida Power & Light Co		3.150		10/01/49		402,566
	768,000		Fortis, Inc		3.055		10/04/26		817,515
	225,000		Georgia Power Co		2.100		07/30/23		232,242
	600,000		Georgia Power Co		2.200		09/15/24		625,964
	100,000		Georgia Power Co		3.250		04/01/26		108,080
	700,000		Georgia Power Co		3.250		03/30/27		751,765
	700,000		Georgia Power Co		2.650		09/15/29		714,194
	625,000		Georgia Power Co		4.300		03/15/42		696,297
	700,000		Georgia Power Co		4.300		03/15/43		787,855
	2,500,000		Georgia Power Co		3.250		03/15/51		2,386,530
	200,000		Gulf Power Co		3.300		05/30/27		216,365
	250,000		Iberdrola International BV		5.810		03/15/25		290,275
	400,000		Iberdrola International BV		6.750		07/15/36		580,839
	500,000		Indiana Michigan Power Co		3.850		05/15/28		554,025
	225,000		Indiana Michigan Power Co		4.550		03/15/46		263,575
	100,000		Indiana Michigan Power Co		3.750		07/01/47		104,515
	300,000		Indiana Michigan Power Co		4.250		08/15/48		342,148
	500,000		Interstate Power & Light Co		3.250		12/01/24		539,659
	725,000		Interstate Power & Light Co		4.100		09/26/28		815,658
	325,000		Interstate Power & Light Co		3.600		04/01/29		354,481
	125,000		Interstate Power & Light Co		2.300		06/01/30		123,294
	100,000		Interstate Power & Light Co		6.250		07/15/39		135,970
	100,000		Interstate Power & Light Co		3.700		09/15/46		102,743
	300,000		Interstate Power & Light Co		3.500		09/30/49		295,348
	1,000,000		IPALCO Enterprises, Inc		3.700		09/01/24		1,080,162
	100,000	g	IPALCO Enterprises, Inc		4.250		05/01/30		108,936
	300,000		ITC Holdings Corp		2.700		11/15/22		309,635
	300,000		ITC Holdings Corp		3.650		06/15/24		322,854

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	100,000	ITC Holdings Corp		3.250	%	06/30/26	$	107,830
	900,000	ITC Holdings Corp		3.350		11/15/27		974,439
	200,000	Kansas City Power & Light Co		3.650		08/15/25		218,800
	100,000	Kansas City Power & Light Co		5.300		10/01/41		124,140
	650,000	Kansas City Power & Light Co		4.200		06/15/47		723,575
	100,000	Kansas City Power & Light Co		4.200		03/15/48		113,138
	300,000	Kansas City Power & Light Co		4.125		04/01/49		337,628
	300,000	Kentucky Utilities Co		4.375		10/01/45		339,371
	400,000	Kentucky Utilities Co		3.300		06/01/50		389,219
	250,000	KeySpan Corp		5.803		04/01/35		303,026
	300,000	Louisville Gas & Electric Co		4.250		04/01/49		341,523
	1,500,000	MidAmerican Energy Co		3.100		05/01/27		1,625,643
	575,000	MidAmerican Energy Co		3.650		04/15/29		637,832
	200,000	MidAmerican Energy Co		4.800		09/15/43		244,097
	200,000	MidAmerican Energy Co		4.400		10/15/44		230,562
	200,000	MidAmerican Energy Co		4.250		05/01/46		230,182
	500,000	MidAmerican Energy Co		3.950		08/01/47		555,216
	1,000,000	MidAmerican Energy Co		3.650		08/01/48		1,057,490
	300,000	MidAmerican Energy Co		4.250		07/15/49		352,342
	300,000	MidAmerican Energy Co		3.150		04/15/50		294,825
	500,000	Mississippi Power Co		3.950		03/30/28		551,140
	750,000	Mississippi Power Co		4.250		03/15/42		824,912
	200,000	National Fuel Gas Co		3.750		03/01/23		209,243
	300,000	National Fuel Gas Co		5.200		07/15/25		336,671
	300,000	National Fuel Gas Co		5.500		01/15/26		342,853
	200,000	National Fuel Gas Co		3.950		09/15/27		212,330
	200,000	National Fuel Gas Co		4.750		09/01/28		220,561
	1,100,000	National Fuel Gas Co		2.950		03/01/31		1,059,261
	1,000,000	Nevada Power Co		3.700		05/01/29		1,103,281
	500,000	Nevada Power Co		2.400		05/01/30		498,286
	500,000	Nevada Power Co		3.125		08/01/50		479,996
	500,000	NextEra Energy Capital Holdings, Inc		2.900		04/01/22		512,593
	300,000	NextEra Energy Capital Holdings, Inc		2.800		01/15/23		311,928
	2,000,000	NextEra Energy Capital Holdings, Inc		0.650		03/01/23		2,006,394
	850,000	NextEra Energy Capital Holdings, Inc		3.150		04/01/24		906,092
	500,000	NextEra Energy Capital Holdings, Inc		2.750		05/01/25		528,372
	750,000	NextEra Energy Capital Holdings, Inc		3.250		04/01/26		810,763
	1,125,000	NextEra Energy Capital Holdings, Inc		3.550		05/01/27		1,234,715
	300,000	NextEra Energy Capital Holdings, Inc		3.500		04/01/29		322,078
	450,000	NextEra Energy Capital Holdings, Inc		2.750		11/01/29		461,150
	2,980,000	NextEra Energy Capital Holdings, Inc		2.250		06/01/30		2,915,645
	1,700,000	NextEra Energy Capital Holdings, Inc		5.650		05/01/79		1,936,730
	500,000	NiSource, Inc		0.950		08/15/25		490,489
	1,000,000	NiSource, Inc		3.490		05/15/27		1,085,097
	750,000	NiSource, Inc		2.950		09/01/29		771,991
	200,000	NiSource, Inc		3.600		05/01/30		216,772
	800,000	NiSource, Inc		1.700		02/15/31		740,976
	77,000	NiSource, Inc		5.950		06/15/41		99,758
	700,000	NiSource, Inc		5.250		02/15/43		863,481
	450,000	NiSource, Inc		4.800		02/15/44		526,052
	815,000	NiSource, Inc		5.650		02/01/45		1,047,143
	350,000	NiSource, Inc		4.375		05/15/47		392,213
	500,000	NiSource, Inc		3.950		03/30/48		525,652
	150,000	Northern States Power Co		2.150		08/15/22		151,935

100

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	300,000		Northern States Power Co		2.600	%	05/15/23	$	310,630
	600,000		Northern States Power Co		2.250		04/01/31		599,258
	425,000		Northern States Power Co		5.350		11/01/39		549,656
	175,000		Northern States Power Co		3.600		05/15/46		184,614
	1,950,000		Northern States Power Co		3.600		09/15/47		2,083,609
	325,000		Northern States Power Co		2.900		03/01/50		310,453
	750,000		Northern States Power Co		2.600		06/01/51		671,607
	1,000,000		Northern States Power Co		3.200		04/01/52		1,002,524
	1,000,000		Northwest Pipeline LLC		4.000		04/01/27		1,120,295
	200,000		NorthWestern Corp		4.176		11/15/44		221,175
	200,000		NSTAR Electric Co		2.375		10/15/22		204,998
	1,300,000		NSTAR Electric Co		3.200		05/15/27		1,405,681
	200,000		Nvent Finance Sarl		3.950		04/15/23		208,794
	200,000		Nvent Finance Sarl		4.550		04/15/28		211,724
	500,000		Oglethorpe Power Corp		5.050		10/01/48		588,680
	750,000	g	Oglethorpe Power Corp		3.750		08/01/50		728,375
	500,000		Oglethorpe Power Corp		5.250		09/01/50		580,040
	600,000		Ohio Power Co		5.375		10/01/21		614,147
	2,000,000		Ohio Power Co		1.625		01/15/31		1,863,711
	500,000		Ohio Power Co		4.150		04/01/48		560,129
	1,500,000		Ohio Power Co		4.000		06/01/49		1,674,971
	200,000		Oklahoma Gas & Electric Co		3.800		08/15/28		220,439
	500,000		Oklahoma Gas & Electric Co		3.300		03/15/30		535,485
	100,000		Oklahoma Gas & Electric Co		3.250		04/01/30		106,021
	200,000		Oklahoma Gas & Electric Co		4.150		04/01/47		220,218
	200,000		Oklahoma Gas & Electric Co		3.850		08/15/47		212,873
	150,000		Oncor Electric Delivery Co LLC		4.100		06/01/22		154,842
	500,000		Oncor Electric Delivery Co LLC		2.750		06/01/24		529,499
	400,000		Oncor Electric Delivery Co LLC		2.950		04/01/25		424,675
	1,000,000	g	Oncor Electric Delivery Co LLC		0.550		10/01/25		969,362
	750,000		Oncor Electric Delivery Co LLC		3.700		11/15/28		831,790
	1,500,000		Oncor Electric Delivery Co LLC		5.750		03/15/29		1,856,376
	325,000		Oncor Electric Delivery Co LLC		2.750		05/15/30		338,757
	100,000		Oncor Electric Delivery Co LLC		5.250		09/30/40		130,128
	550,000		Oncor Electric Delivery Co LLC		4.550		12/01/41		648,363
	56,000		Oncor Electric Delivery Co LLC		5.300		06/01/42		72,225
	300,000		Oncor Electric Delivery Co LLC		3.750		04/01/45		322,243
	400,000		Oncor Electric Delivery Co LLC		3.800		09/30/47		430,613
	200,000		Oncor Electric Delivery Co LLC		4.100		11/15/48		226,682
	500,000		Oncor Electric Delivery Co LLC		3.800		06/01/49		543,605
	500,000		Oncor Electric Delivery Co LLC		3.100		09/15/49		485,408
	200,000		Oncor Electric Delivery Co LLC		3.700		05/15/50		214,887
	164,000	g	Oncor Electric Delivery Co LLC		5.350		10/01/52		222,190
	137,000		ONE Gas, Inc		3.610		02/01/24		146,050
	2,000,000		ONE Gas, Inc		1.100		03/11/24		1,999,430
	100,000		ONE Gas, Inc		2.000		05/15/30		94,575
	100,000		ONE Gas, Inc		4.658		02/01/44		113,387
	500,000		ONE Gas, Inc		4.500		11/01/48		559,541
	1,575,000		ONEOK Partners LP		3.375		10/01/22		1,627,163
	200,000		ONEOK Partners LP		5.000		09/15/23		217,060
	700,000		ONEOK Partners LP		4.900		03/15/25		777,547
	130,000		ONEOK Partners LP		6.650		10/01/36		163,046
	250,000		ONEOK Partners LP		6.850		10/15/37		316,433

101

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	100,000	ONEOK Partners LP		6.125	%	02/01/41	$	117,155
	3,000,000	Pacific Gas and Electric Co		1.750		06/16/22		3,004,553
	5,000,000	Pacific Gas and Electric Co		3.150		01/01/26		5,208,027
	3,000,000	Pacific Gas and Electric Co		2.100		08/01/27		2,937,224
	3,000,000	Pacific Gas and Electric Co		4.550		07/01/30		3,253,801
	4,000,000	Pacific Gas and Electric Co		2.500		02/01/31		3,774,007
	1,000,000	Pacific Gas and Electric Co		3.250		06/01/31		995,578
	750,000	Pacific Gas and Electric Co		4.500		07/01/40		760,900
	1,000,000	Pacific Gas and Electric Co		3.300		08/01/40		905,119
	1,500,000	Pacific Gas and Electric Co		4.200		06/01/41		1,492,527
	2,200,000	Pacific Gas and Electric Co		4.950		07/01/50		2,260,928
	3,300,000	Pacific Gas and Electric Co		3.500		08/01/50		2,863,626
	250,000	PacifiCorp		2.950		02/01/22		253,898
	500,000	PacifiCorp		3.500		06/15/29		544,556
	500,000	PacifiCorp		2.700		09/15/30		512,321
	850,000	PacifiCorp		6.000		01/15/39		1,143,386
	300,000	PacifiCorp		4.125		01/15/49		334,085
	1,300,000	PacifiCorp		4.150		02/15/50		1,469,018
	250,000	PacifiCorp		3.300		03/15/51		246,439
	200,000	PECO Energy Co		1.700		09/15/21		200,977
	150,000	PECO Energy Co		2.375		09/15/22		153,541
	200,000	PECO Energy Co		3.150		10/15/25		215,044
	200,000	PECO Energy Co		4.150		10/01/44		225,563
	200,000	PECO Energy Co		3.700		09/15/47		214,330
	1,200,000	PECO Energy Co		3.900		03/01/48		1,327,306
	125,000	PECO Energy Co		3.000		09/15/49		119,658
	100,000	PECO Energy Co		2.800		06/15/50		93,135
	475,000	PECO Energy Co		3.050		03/15/51		464,128
	1,000,000	Piedmont Natural Gas Co, Inc		2.500		03/15/31		989,720
	200,000	Piedmont Natural Gas Co, Inc		4.650		08/01/43		235,265
	1,600,000	Piedmont Natural Gas Co, Inc		3.350		06/01/50		1,555,411
	1,000,000	Pinnacle West Capital Corp		1.300		06/15/25		994,137
	200,000	Potomac Electric Power Co		3.600		03/15/24		214,785
	900,000	Potomac Electric Power Co		4.150		03/15/43		1,016,589
	300,000	PPL Capital Funding, Inc		4.200		06/15/22		310,124
	200,000	PPL Capital Funding, Inc		3.500		12/01/22		208,182
	400,000	PPL Capital Funding, Inc		3.400		06/01/23		420,934
	1,100,000	PPL Capital Funding, Inc		3.950		03/15/24		1,187,725
	950,000	PPL Capital Funding, Inc		3.100		05/15/26		1,012,401
	500,000	PPL Capital Funding, Inc		4.125		04/15/30		561,967
	1,300,000	PPL Capital Funding, Inc		4.000		09/15/47		1,397,227
	200,000	PPL Electric Utilities Corp		4.125		06/15/44		222,204
	275,000	PPL Electric Utilities Corp		4.150		10/01/45		307,966
	500,000	PPL Electric Utilities Corp		3.950		06/01/47		550,981
	200,000	PPL Electric Utilities Corp		4.150		06/15/48		228,859
	525,000	PPL Electric Utilities Corp		3.000		10/01/49		498,373
	300,000	Progress Energy, Inc		3.150		04/01/22		305,967
	500,000	PSEG Power LLC		3.000		06/15/21		501,214
	1,342,000	PSEG Power LLC		3.850		06/01/23		1,430,712
	150,000	Public Service Co of Colorado		2.250		09/15/22		152,868
	250,000	Public Service Co of Colorado		3.700		06/15/28		276,535
	1,000,000	Public Service Co of Colorado		1.900		01/15/31		963,548
	1,050,000	Public Service Co of Colorado		1.875		06/15/31		1,004,426
	200,000	Public Service Co of Colorado		3.800		06/15/47		215,677

102

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	100,000		Public Service Co of Colorado		4.100	%	06/15/48	$	113,245
	300,000		Public Service Co of Colorado		4.050		09/15/49		342,764
	400,000		Public Service Co of Colorado		3.200		03/01/50		400,843
	350,000		Public Service Co of Colorado		2.700		01/15/51		316,647
	100,000		Public Service Co of New Hampshire		3.600		07/01/49		105,015
	300,000		Public Service Electric & Gas Co		3.250		09/01/23		318,404
	300,000		Public Service Electric & Gas Co		2.250		09/15/26		313,798
	450,000		Public Service Electric & Gas Co		3.000		05/15/27		483,011
	250,000		Public Service Electric & Gas Co		3.700		05/01/28		275,450
	500,000		Public Service Electric & Gas Co		3.200		05/15/29		535,295
	500,000		Public Service Electric & Gas Co		2.450		01/15/30		504,805
	200,000		Public Service Electric & Gas Co		3.800		01/01/43		219,239
	600,000		Public Service Electric & Gas Co		3.800		03/01/46		663,694
	200,000		Public Service Electric & Gas Co		3.600		12/01/47		213,234
	250,000		Public Service Electric & Gas Co		4.050		05/01/48		284,820
	500,000		Public Service Electric & Gas Co		3.850		05/01/49		553,690
	575,000		Public Service Electric & Gas Co		3.200		08/01/49		572,453
	500,000		Public Service Electric & Gas Co		3.150		01/01/50		497,821
	175,000		Public Service Electric & Gas Co		2.700		05/01/50		161,152
	425,000		Public Service Electric & Gas Co		2.050		08/01/50		341,916
	1,000,000		Public Service Electric and Gas Co		0.950		03/15/26		986,295
	2,000,000		Public Service Electric and Gas Co		3.000		03/01/51		1,924,864
	400,000		Public Service Enterprise Group, Inc		0.800		08/15/25		389,092
	400,000		Public Service Enterprise Group, Inc		1.600		08/15/30		368,382
	1,585,000		Puget Energy, Inc		3.650		05/15/25		1,713,318
	1,000,000		Puget Energy, Inc		4.100		06/15/30		1,083,716
	250,000		Puget Sound Energy, Inc		5.757		10/01/39		331,814
	200,000		Puget Sound Energy, Inc		4.300		05/20/45		227,261
	725,000		Puget Sound Energy, Inc		4.223		06/15/48		812,395
	275,000		Puget Sound Energy, Inc		3.250		09/15/49		264,497
	150,000		San Diego Gas & Electric Co		3.000		08/15/21		151,486
	400,000		San Diego Gas & Electric Co		3.600		09/01/23		426,545
	800,000		San Diego Gas & Electric Co		2.500		05/15/26		835,354
	500,000		San Diego Gas & Electric Co		1.700		10/01/30		469,753
	300,000		San Diego Gas & Electric Co		3.750		06/01/47		318,687
	300,000		San Diego Gas & Electric Co		4.150		05/15/48		338,181
	750,000		San Diego Gas & Electric Co		4.100		06/15/49		842,880
	150,000		Sempra Energy		2.875		10/01/22		154,171
	500,000		Sempra Energy		2.900		02/01/23		520,157
	500,000		Sempra Energy		4.050		12/01/23		538,088
	200,000		Sempra Energy		3.750		11/15/25		219,474
	1,525,000		Sempra Energy		3.250		06/15/27		1,631,458
	675,000		Sempra Energy		3.400		02/01/28		723,895
	825,000		Sempra Energy		3.800		02/01/38		886,771
	125,000		Sempra Energy		6.000		10/15/39		165,783
	850,000		Sempra Energy		4.000		02/01/48		895,253
	869,000		Sierra Pacific Power Co		2.600		05/01/26		916,487
	50,000		South Carolina Electric & Gas Co		5.300		05/15/33		63,144
	125,000		South Carolina Electric & Gas Co		5.450		02/01/41		162,533
	800,000		South Carolina Electric & Gas Co		4.600		06/15/43		951,494
	500,000		Southern California Edison Co		2.400		02/01/22		506,581
	100,000		Southern California Edison Co		3.400		06/01/23		105,853
	1,000,000	h	Southern California Edison Co		1.100		04/01/24		999,986

103

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	500,000	Southern California Edison Co		3.700	%	08/01/25	$	546,073
	1,000,000	Southern California Edison Co		1.200		02/01/26		985,501
	750,000	Southern California Edison Co		3.650		03/01/28		817,319
	500,000	Southern California Edison Co		4.200		03/01/29		555,812
	600,000	Southern California Edison Co		2.850		08/01/29		608,959
	1,750,000	Southern California Edison Co		2.250		06/01/30		1,694,174
	185,000	Southern California Edison Co		6.050		03/15/39		240,730
	300,000	Southern California Edison Co		4.500		09/01/40		335,423
	825,000	Southern California Edison Co		4.650		10/01/43		935,613
	450,000	Southern California Edison Co		3.600		02/01/45		442,024
	1,937,000	Southern California Edison Co		4.000		04/01/47		1,995,329
	1,675,000	Southern California Edison Co		4.125		03/01/48		1,755,114
	500,000	Southern California Edison Co		4.875		03/01/49		580,414
	925,000	Southern California Edison Co		3.650		02/01/50		915,039
	1,500,000	Southern California Edison Co		2.950		02/01/51		1,316,881
	200,000	Southern California Gas Co		3.200		06/15/25		215,711
	200,000	Southern California Gas Co		2.600		06/15/26		210,808
	500,000	Southern California Gas Co		2.550		02/01/30		501,996
	150,000	Southern California Gas Co		3.750		09/15/42		161,405
	500,000	Southern California Gas Co		4.125		06/01/48		566,551
	300,000	Southern California Gas Co		4.300		01/15/49		354,384
	500,000	Southern California Gas Co		3.950		02/15/50		552,936
	425,000	Southern Co		2.950		07/01/23		445,101
	2,325,000	Southern Co		3.250		07/01/26		2,488,626
	1,500,000	Southern Co		1.750		03/15/28		1,458,805
	2,500,000	Southern Co		3.700		04/30/30		2,701,271
	400,000	Southern Co		4.250		07/01/36		449,509
	2,300,000	Southern Co		4.400		07/01/46		2,561,241
	1,000,000	Southern Co		4.000		01/15/51		1,055,250
	200,000	Southern Co Gas Capital Corp		2.450		10/01/23		208,179
	400,000	Southern Co Gas Capital Corp		3.250		06/15/26		431,691
	500,000	Southern Co Gas Capital Corp		1.750		01/15/31		459,983
	275,000	Southern Co Gas Capital Corp		4.400		06/01/43		297,839
	100,000	Southern Co Gas Capital Corp		3.950		10/01/46		103,487
	900,000	Southern Co Gas Capital Corp		4.400		05/30/47		995,342
	550,000	Southern Natural Gas Co		4.400		06/15/21		551,493
	200,000	Southern Power Co		4.150		12/01/25		222,729
	950,000	Southern Power Co		0.900		01/15/26		923,181
	300,000	Southern Power Co		4.950		12/15/46		331,760
	150,000	Southwest Gas Corp		3.700		04/01/28		162,409
	100,000	Southwest Gas Corp		2.200		06/15/30		97,003
	100,000	Southwest Gas Corp		3.800		09/29/46		102,753
	500,000	Southwest Gas Corp		4.150		06/01/49		533,662
	1,000,000	Southwestern Electric Power Co		1.650		03/15/26		1,002,800
	500,000	Southwestern Electric Power Co		2.750		10/01/26		525,940
	675,000	Southwestern Electric Power Co		4.100		09/15/28		747,038
	750,000	Southwestern Electric Power Co		3.850		02/01/48		764,365
	600,000	Southwestern Public Service Co		4.500		08/15/41		693,550
	300,000	Southwestern Public Service Co		3.400		08/15/46		299,522
	225,000	Southwestern Public Service Co		3.700		08/15/47		233,073
	200,000	Southwestern Public Service Co		4.400		11/15/48		231,171
	750,000	Southwestern Public Service Co		3.750		06/15/49		800,442
	650,000	Southwestern Public Service Co		3.150		05/01/50		632,829
	1,000,000	Tampa Electric Co		2.400		03/15/31		993,585

104

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	100,000	Tampa Electric Co		4.100	%	06/15/42	$	109,825
	175,000	Tampa Electric Co		4.350		05/15/44		200,115
	200,000	Tampa Electric Co		4.300		06/15/48		225,867
	200,000	Tampa Electric Co		4.450		06/15/49		232,338
	575,000	Tampa Electric Co		3.625		06/15/50		591,757
	925,000	Tampa Electric Co		3.450		03/15/51		933,677
	300,000	TC PipeLines LP		4.375		03/13/25		332,192
	350,000	TC PipeLines LP		3.900		05/25/27		379,666
	200,000	Tucson Electric Power Co		3.050		03/15/25		213,924
	125,000	Tucson Electric Power Co		1.500		08/01/30		115,772
	200,000	Tucson Electric Power Co		4.850		12/01/48		238,556
	500,000	Tucson Electric Power Co		4.000		06/15/50		541,326
	200,000	Union Electric Co		2.950		06/15/27		214,613
	300,000	Union Electric Co		3.500		03/15/29		326,959
	500,000	Union Electric Co		2.950		03/15/30		524,287
	100,000	Union Electric Co		8.450		03/15/39		167,140
	100,000	Union Electric Co		3.900		09/15/42		108,460
	100,000	Union Electric Co		3.650		04/15/45		105,252
	200,000	Union Electric Co		4.000		04/01/48		223,239
	1,000,000	Union Electric Co		3.250		10/01/49		994,298
	675,000	Union Electric Co		2.625		03/15/51		597,066
	100,000	United Utilities plc		6.875		08/15/28		126,059
	409,000	Virginia Electric & Power Co		2.750		03/15/23		424,115
	500,000	Virginia Electric & Power Co		3.450		02/15/24		536,912
	1,850,000	Virginia Electric & Power Co		3.150		01/15/26		1,990,642
	900,000	Virginia Electric & Power Co		2.950		11/15/26		964,760
	1,750,000	Virginia Electric & Power Co		3.500		03/15/27		1,918,449
	3,000,000	Virginia Electric & Power Co		3.800		04/01/28		3,312,925
	1,000,000	Virginia Electric & Power Co		2.875		07/15/29		1,041,536
	250,000	Virginia Electric & Power Co		4.650		08/15/43		300,060
	400,000	Virginia Electric & Power Co		4.450		02/15/44		469,432
	200,000	Virginia Electric & Power Co		4.200		05/15/45		226,865
	1,100,000	Virginia Electric & Power Co		4.000		11/15/46		1,227,637
	700,000	Virginia Electric & Power Co		3.800		09/15/47		760,654
	1,300,000	Virginia Electric & Power Co		4.600		12/01/48		1,596,865
	500,000	Virginia Electric & Power Co		3.300		12/01/49		497,272
	500,000	Virginia Electric and Power Co		2.450		12/15/50		427,151
	200,000	Washington Gas Light Co		3.796		09/15/46		216,183
	700,000	Washington Gas Light Co		3.650		09/15/49		738,732
	1,000,000	WEC Energy Group, Inc		0.550		09/15/23		997,944
	1,277,000	WEC Energy Group, Inc		3.550		06/15/25		1,384,416
	500,000	WEC Energy Group, Inc		1.375		10/15/27		482,886
	500,000	WEC Energy Group, Inc		1.800		10/15/30		466,010
	100,000	Westar Energy, Inc		2.550		07/01/26		104,779
	500,000	Westar Energy, Inc		4.125		03/01/42		552,528
	175,000	Westar Energy, Inc		4.100		04/01/43		194,228
	375,000	Westar Energy, Inc		3.250		09/01/49		366,989
	175,000	Wisconsin Electric Power Co		2.050		12/15/24		182,869
	200,000	Wisconsin Electric Power Co		5.625		05/15/33		251,552
	200,000	Wisconsin Electric Power Co		4.300		10/15/48		234,156
	325,000	Wisconsin Power & Light Co		3.050		10/15/27		347,005
	500,000	Wisconsin Power & Light Co		3.000		07/01/29		528,775
	225,000	Wisconsin Power & Light Co		3.650		04/01/50		234,607

105

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	200,000		Wisconsin Public Service Corp		4.752	%	11/01/44	$	241,324
	300,000		Wisconsin Public Service Corp		3.300		09/01/49		303,522
	700,000		Xcel Energy, Inc		0.500		10/15/23		699,326
	750,000		Xcel Energy, Inc		3.350		12/01/26		812,489
	900,000		Xcel Energy, Inc		4.000		06/15/28		999,414
	200,000		Xcel Energy, Inc		4.800		09/15/41		235,625
	500,000		Xcel Energy, Inc		3.500		12/01/49		500,328
	1,000,000		Yale Haven Health Services Corp		2.496		07/01/50		875,432
			TOTAL UTILITIES						441,781,558

			TOTAL CORPORATE BONDS						5,220,271,520
			(Cost $4,973,754,355)

GOVERNMENT BONDS - 70.0%

AGENCY SECURITIES - 1.4%
	3,000,000		Federal Farm Credit Bank (FFCB)		0.125		11/23/22		2,999,922
	3,000,000		FFCB		2.875		07/17/23		3,182,730
	10,000,000		FFCB		0.300		09/01/23		10,003,702
	1,145,000		FFCB		3.500		12/20/23		1,243,448
	5,000,000		FFCB		1.650		07/23/35		4,615,061
	20,000,000		FFCB		0.125		02/03/23		19,990,279
	1,670,000		FFCB		0.250		02/26/24		1,664,905
	6,650,000		Federal Home Loan Bank (FHLB)		0.125		08/12/22		6,646,010
	5,000,000		FHLB		0.125		10/21/22		4,996,939
	1,800,000		FHLB		0.125		03/17/23		1,797,913
	10,000,000		FHLB		0.500		04/14/25		9,921,338
	2,000,000		FHLB		0.375		09/04/25		1,963,177
	13,875,000		FHLB		3.250		11/16/28		15,617,085
	3,000,000		Federal Home Loan Mortgage Corp (FHLMC)		0.375		05/05/23		3,012,896
	12,625,000		FHLMC		2.750		06/19/23		13,333,649
	7,000,000		FHLMC		0.250		08/24/23		7,001,595
	3,250,000		FHLMC		0.250		09/08/23		3,249,373
	6,750,000		FHLMC		0.125		10/16/23		6,724,537
	4,000,000		FHLMC		0.250		11/06/23		3,996,994
	3,782,000		FHLMC		0.250		12/04/23		3,776,355
	10,000,000		FHLMC		1.500		02/12/25		10,337,579
	6,000,000		FHLMC		0.375		07/21/25		5,905,149
	5,000,000		FHLMC		0.375		09/23/25		4,909,315
	7,400,000		Federal National Mortgage Association (FNMA)		2.250		04/12/22		7,564,124
	1,216,769	i	FNMA		2.301		09/25/22		1,243,627
	1,000,000		FNMA		2.000		10/05/22		1,027,906
	10,000,000		FNMA		2.375		01/19/23		10,398,257
	5,250,000		FNMA		0.250		07/10/23		5,254,009
	1,000,000		FNMA		2.875		09/12/23		1,064,073
	3,000,000		FNMA		0.250		11/27/23		2,996,606
	2,500,000		FNMA		2.500		02/05/24		2,656,923
	5,000,000		FNMA		1.750		07/02/24		5,214,918
	13,700,000		FNMA		2.625		09/06/24		14,723,464
	3,000,000		FNMA		1.625		01/07/25		3,116,173
	4,000,000		FNMA		0.625		04/22/25		3,989,392
	10,000,000		FNMA		0.375		08/25/25		9,819,961
	4,500,000		FNMA		0.500		11/07/25		4,431,521
	4,000,000		FNMA		1.875		09/24/26		4,176,516

106

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	3,000,000	FNMA		0.750	%	10/08/27	$	2,888,757
	10,000,000	FNMA		0.875		08/05/30		9,246,163
	5,000,000	FNMA		6.625		11/15/30		7,134,014
	1,000,000	FNMA		5.625		07/15/37		1,472,319
	1,300,000	Hashemite Kingdom of Jordan Government AID Bond		3.000		06/30/25		1,395,483
	1,000,000	Iraq Government AID Bond		2.149		01/18/22		1,014,629
	800,000	Israel Government AID International Bond		5.500		09/18/23		901,047
	300,000	Israel Government AID International Bond		5.500		04/26/24		345,086
	250,000	NCUA Guaranteed Notes		3.450		06/12/21		250,692
	400,000	Private Export Funding Corp (PEFCO)		2.050		11/15/22		411,273
	250,000	PEFCO		1.750		11/15/24		259,614
	200,000	PEFCO		3.250		06/15/25		217,659
	5,500,000	Tennessee Valley Authority (TVA)		0.005		04/14/21		5,500,000
	750,000	TVA		2.875		09/15/24		807,614
	2,000,000	TVA		0.750		05/15/25		1,997,597
	1,425,000	TVA		2.875		02/01/27		1,560,177
	500,000	TVA		5.880		04/01/36		721,307
	500,000	TVA		5.500		06/15/38		705,578
	4,300,000	TVA		3.500		12/15/42		4,824,964
	1,750,000	TVA		4.625		09/15/60		2,365,764
	300,000	TVA		4.250		09/15/65		386,855
	175,000	Tunisia Government AID International Bonds		1.416		08/05/21		171,413
		TOTAL AGENCY SECURITIES						269,145,426

FOREIGN GOVERNMENT BONDS - 3.8%
	2,000,000	African Development Bank		1.625		09/16/22		2,040,160
	500,000	African Development Bank		2.125		11/16/22		515,372
	2,500,000	African Development Bank		0.750		04/03/23		2,524,281
	2,000,000	African Development Bank		3.000		09/20/23		2,129,261
	5,000,000	African Development Bank		0.875		03/23/26		4,958,281
	600,000	Asian Development Bank		1.875		02/18/22		609,047
	4,000,000	Asian Development Bank		1.875		07/19/22		4,087,093
	500,000	Asian Development Bank		1.875		08/10/22		511,353
	750,000	Asian Development Bank		1.750		09/13/22		766,684
	2,250,000	Asian Development Bank		1.625		01/24/23		2,306,565
	3,000,000	Asian Development Bank		2.750		03/17/23		3,146,286
	2,250,000	Asian Development Bank		0.250		07/14/23		2,246,923
	2,000,000	Asian Development Bank		0.250		10/06/23		1,996,045
	2,200,000	Asian Development Bank		2.625		01/30/24		2,337,242
	2,000,000	Asian Development Bank		1.500		10/18/24		2,064,041
	500,000	Asian Development Bank		2.000		01/22/25		525,470
	6,000,000	Asian Development Bank		0.375		09/03/25		5,870,845
	3,000,000	Asian Development Bank		0.500		02/04/26		2,931,739
	1,500,000	Asian Development Bank		2.000		04/24/26		1,572,090
	1,000,000	Asian Development Bank		2.625		01/12/27		1,079,700
	500,000	Asian Development Bank		2.375		08/10/27		530,154
	500,000	Asian Development Bank		2.500		11/02/27		533,831
	1,000,000	Asian Development Bank		2.750		01/19/28		1,082,752
	75,000	Asian Development Bank		5.820		06/16/28		96,451
	2,575,000	Asian Development Bank		3.125		09/26/28		2,853,367
	2,000,000	Asian Development Bank		1.750		09/19/29		2,007,517
	3,500,000	Asian Development Bank		1.875		01/24/30		3,534,169

107

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	1,000,000		Asian Development Bank		0.750	%	10/08/30	$	905,049
	3,000,000		Asian Development Bank		1.500		03/04/31		2,888,537
	3,000,000		Asian Infrastructure Investment Bank		0.250		09/29/23		2,996,103
	3,000,000		Asian Infrastructure Investment Bank		0.500		05/28/25		2,965,558
	3,000,000		Asian Infrastructure Investment Bank		0.500		01/27/26		2,924,933
	2,000,000		Canada Government International Bond		2.000		11/15/22		2,059,080
	3,000,000		Canada Government International Bond		1.625		01/22/25		3,109,362
	1,715,000		Chile Government International Bond		3.240		02/06/28		1,849,439
	1,000,000		Chile Government International Bond		2.450		01/31/31		1,003,890
	3,500,000		Chile Government International Bond		2.550		01/27/32		3,526,950
	2,613,000		Chile Government International Bond		3.500		01/25/50		2,657,290
	1,500,000	h	Chile Government International Bond		3.500		04/15/53		1,513,620
	2,500,000		Chile Government International Bond		3.100		01/22/61		2,315,725
	600,000		Colombia Government International Bond		2.625		03/15/23		616,404
	3,587,000		Colombia Government International Bond		4.500		03/15/29		3,912,556
	6,787,000		Colombia Government International Bond		3.125		04/15/31		6,646,916
	1,250,000		Colombia Government International Bond		6.125		01/18/41		1,484,337
	1,150,000		Colombia Government International Bond		5.625		02/26/44		1,305,146
	3,100,000		Colombia Government International Bond		5.000		06/15/45		3,302,771
	3,425,000		Colombia Government International Bond		5.200		05/15/49		3,763,356
	1,400,000		Colombia Government International Bond		4.125		05/15/51		1,331,876
	1,500,000		Colombia Government International Bond		3.875		02/15/61		1,344,375
	500,000		Corp Andina de Fomento		2.125		09/27/21		503,480
	950,000		Corp Andina de Fomento		3.250		02/11/22		970,843
	527,000		Corp Andina de Fomento		4.375		06/15/22		549,682
	750,000		Corp Andina de Fomento		2.750		01/06/23		774,232
	1,000,000		Corp Andina de Fomento		2.375		05/12/23		1,032,140
	750,000		Corp Andina de Fomento		3.750		11/23/23		804,375
	1,000,000		Corp Andina de Fomento		1.625		09/23/25		998,080
	1,000,000		Council of Europe Development Bank		2.625		02/13/23		1,043,768
	1,000,000		Council of Europe Development Bank		2.500		02/27/24		1,059,288
	1,480,000		Council of Europe Development Bank		1.375		02/27/25		1,519,583
	1,000,000		Council Of Europe Development Bank		0.250		10/20/23		997,151
	400,000		Development Bank of Japan, Inc		2.000		10/19/21		403,595
	500,000		European Bank for Reconstruction & Development		1.875		02/23/22		507,487
	1,500,000		European Bank for Reconstruction & Development		2.750		03/07/23		1,571,811
	5,000,000		European Bank for Reconstruction & Development		0.250		07/10/23		4,991,222
	2,000,000		European Bank for Reconstruction & Development		1.625		09/27/24		2,072,005
	3,000,000		European Bank for Reconstruction & Development		0.500		11/25/25		2,939,153
	2,000,000		European Bank for Reconstruction & Development		0.500		01/28/26		1,954,300
	14,250,000		European Investment Bank		2.625		05/20/22		14,642,385
	1,000,000		European Investment Bank		2.375		06/15/22		1,026,099
	500,000		European Investment Bank		2.250		08/15/22		514,075
	3,000,000		European Investment Bank		2.500		03/15/23		3,132,063
	7,537,000		European Investment Bank		1.375		05/15/23		7,715,613
	2,440,000		European Investment Bank		0.250		09/15/23		2,436,381
	1,500,000		European Investment Bank		3.125		12/14/23		1,610,408
	5,000,000		European Investment Bank		3.250		01/29/24		5,396,951
	1,500,000		European Investment Bank		2.625		03/15/24		1,596,599
	4,000,000		European Investment Bank		2.250		06/24/24		4,223,013
	1,500,000		European Investment Bank		2.500		10/15/24		1,601,470
	3,250,000		European Investment Bank		1.625		03/14/25		3,369,149
	3,500,000		European Investment Bank		0.625		07/25/25		3,464,386
	3,000,000		European Investment Bank		0.375		12/15/25		2,922,881

108

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	3,500,000		European Investment Bank		0.375	%	03/26/26	$	3,393,072
	400,000		European Investment Bank		2.375		05/24/27		427,028
	250,000		European Investment Bank		0.625		10/21/27		238,160
	550,000		European Investment Bank		1.625		10/09/29		547,610
	1,000,000		European Investment Bank		0.875		05/17/30		925,580
	2,000,000		European Investment Bank		0.750		09/23/30		1,815,567
	2,500,000		European Investment Bank		1.250		02/14/31		2,357,298
	1,705,000		European Investment Bank		4.875		02/15/36		2,275,251
	500,000		Export Development Canada		1.375		10/21/21		503,302
	500,000		Export Development Canada		2.000		05/17/22		510,097
	1,000,000		Export Development Canada		2.500		01/24/23		1,041,030
	4,500,000		Export Development Canada		1.375		02/24/23		4,595,277
	1,000,000		Export Development Canada		2.750		03/15/23		1,048,900
	1,300,000		Export Development Canada		2.625		02/21/24		1,381,227
	300,000		Export-Import Bank of Korea		1.875		10/21/21		302,415
	300,000		Export-Import Bank of Korea		3.500		11/27/21		305,980
	300,000		Export-Import Bank of Korea		5.000		04/11/22		313,813
	3,250,000		Export-Import Bank of Korea		3.000		11/01/22		3,376,494
	1,375,000		Export-Import Bank of Korea		3.625		11/27/23		1,486,927
	500,000		Export-Import Bank of Korea		4.000		01/14/24		546,531
	750,000		Export-Import Bank of Korea		2.875		01/21/25		797,159
	750,000		Export-Import Bank of Korea		1.875		02/12/25		771,250
	1,000,000		Export-Import Bank of Korea		0.750		09/21/25		978,035
	250,000		Export-Import Bank of Korea		3.250		11/10/25		272,040
	1,000,000		Export-Import Bank of Korea		0.625		02/09/26		970,851
	500,000		Export-Import Bank of Korea		2.625		05/26/26		533,158
	500,000		Export-Import Bank of Korea		3.250		08/12/26		547,810
	500,000		Export-Import Bank of Korea		2.375		04/21/27		524,856
	1,000,000		Export-Import Bank of Korea		1.250		09/21/30		924,387
	1,000,000	e	Export-Import Bank of Korea		1.375		02/09/31		932,449
	100,000		Finland Government International Bond		6.950		02/15/26		125,922
	1,000,000		FMS Wertmanagement AoeR		2.000		08/01/22		1,023,710
	2,175,000		FMS Wertmanagement AoeR		2.750		01/30/24		2,316,171
	4,500,000		Hungary Government International Bond		5.750		11/22/23		5,085,508
	1,250,000		Hungary Government International Bond		7.625		03/29/41		2,019,587
	200,000		Hydro Quebec		8.500		12/01/29		298,664
	750,000		Indonesia Government International Bond		2.950		01/11/23		776,511
	700,000		Indonesia Government International Bond		4.450		02/11/24		763,410
	750,000		Indonesia Government International Bond		3.500		01/11/28		801,235
	900,000		Indonesia Government International Bond		4.750		02/11/29		1,029,210
	1,250,000		Indonesia Government International Bond		3.400		09/18/29		1,318,081
	1,000,000		Indonesia Government International Bond		2.850		02/14/30		1,017,250
	675,000		Indonesia Government International Bond		3.850		10/15/30		740,310
	1,500,000	e	Indonesia Government International Bond		1.850		03/12/31		1,438,654
	875,000		Indonesia Government International Bond		4.350		01/11/48		948,999
	1,125,000		Indonesia Government International Bond		5.350		02/11/49		1,395,428
	1,000,000		Indonesia Government International Bond		3.700		10/30/49		1,013,607
	1,000,000		Indonesia Government International Bond		3.500		02/14/50		996,685
	2,000,000		Indonesia Government International Bond		4.200		10/15/50		2,183,516
	1,500,000	e	Indonesia Government International Bond		3.050		03/12/51		1,481,381
	500,000		Indonesia Government International Bond		4.450		04/15/70		545,725
	1,500,000		Indonesia Government International Bond		3.350		03/12/71		1,417,810
	500,000		Inter-American Development Bank		2.125		01/18/22		507,560

109

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	3,775,000		Inter-American Development Bank		3.000	%	09/26/22	$	3,929,607
	3,000,000		Inter-American Development Bank		2.500		01/18/23		3,122,730
	6,000,000		Inter-American Development Bank		0.250		11/15/23		5,983,254
	1,500,000		Inter-American Development Bank		2.625		01/16/24		1,591,770
	500,000		Inter-American Development Bank		2.125		01/15/25		527,045
	5,000,000		Inter-American Development Bank		1.750		03/14/25		5,201,394
	10,000,000		Inter-American Development Bank		0.625		07/15/25		9,905,481
	1,500,000		Inter-American Development Bank		2.000		06/02/26		1,569,209
	1,500,000		Inter-American Development Bank		2.000		07/23/26		1,568,951
	1,000,000		Inter-American Development Bank		2.375		07/07/27		1,058,080
	2,000,000		Inter-American Development Bank		0.625		09/16/27		1,898,980
	2,000,000		Inter-American Development Bank		3.125		09/18/28		2,216,808
	3,000,000		Inter-American Development Bank		2.250		06/18/29		3,134,769
	3,000,000		Inter-American Development Bank		1.125		01/13/31		2,801,882
	1,450,000		Inter-American Development Bank		3.200		08/07/42		1,591,096
	300,000		Inter-American Development Bank		4.375		01/24/44		389,302
	5,000,000		International Bank for Reconstruction & Development		2.125		07/01/22		5,119,702
	5,000,000		International Bank for Reconstruction & Development		1.875		10/07/22		5,126,150
	5,400,000		International Bank for Reconstruction & Development		7.625		01/19/23		6,112,229
	500,000		International Bank for Reconstruction & Development		2.125		02/13/23		517,739
	3,000,000		International Bank for Reconstruction & Development		1.875		06/19/23		3,106,432
	1,500,000		International Bank for Reconstruction & Development		0.250		11/24/23		1,495,963
	5,575,000		International Bank for Reconstruction & Development		2.500		03/19/24		5,916,346
	2,000,000		International Bank for Reconstruction & Development		1.500		08/28/24		2,065,754
	1,600,000		International Bank for Reconstruction & Development		2.500		11/25/24		1,710,592
	5,000,000		International Bank for Reconstruction & Development		1.625		01/15/25		5,182,135
	6,000,000		International Bank for Reconstruction & Development		0.375		07/28/25		5,876,552
	4,500,000		International Bank for Reconstruction & Development		2.500		07/29/25		4,809,603
	5,500,000		International Bank for Reconstruction & Development		0.500		10/28/25		5,399,553
	500,000		International Bank for Reconstruction & Development		3.125		11/20/25		549,475
	2,000,000		International Bank for Reconstruction & Development		0.750		11/24/27		1,914,531
	2,000,000		International Bank for Reconstruction & Development		1.750		10/23/29		2,004,524
	5,000,000		International Bank for Reconstruction & Development		0.875		05/14/30		4,623,554
	3,000,000		International Bank for Reconstruction & Development		0.750		08/26/30		2,723,978
	5,000,000	e	International Bank for Reconstruction & Development		1.250		02/10/31		4,733,182

110

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	834,000	International Bank for Reconstruction & Development		4.750	%	02/15/35	$	1,081,814
	500,000	International Finance Corp		2.000		10/24/22		513,868
	1,300,000	International Finance Corp		2.875		07/31/23		1,376,574
	1,500,000	International Finance Corp		1.375		10/16/24		1,539,452
	2,500,000	International Finance Corp		0.375		07/16/25		2,448,840
	5,000,000	International Finance Corp		0.750		08/27/30		4,537,319
	705,000	Israel Government International Bond		4.000		06/30/22		736,759
	300,000	Israel Government International Bond		3.150		06/30/23		317,293
	1,000,000	Israel Government International Bond		2.875		03/16/26		1,076,853
	975,000	Israel Government International Bond		3.250		01/17/28		1,074,146
	600,000	Israel Government International Bond		2.750		07/03/30		626,755
	1,500,000	Israel Government International Bond		4.500		01/30/43		1,809,822
	200,000	Israel Government International Bond		4.125		01/17/48		230,000
	1,800,000	Israel Government International Bond		3.875		07/03/50		1,964,759
	300,000	Israel Government International Bond		4.500		04/03/20		354,874
	500,000	Japan Bank for International Cooperation		2.500		06/01/22		512,769
	1,250,000	Japan Bank for International Cooperation		2.375		07/21/22		1,283,820
	480,000	Japan Bank for International Cooperation		1.625		10/17/22		489,586
	300,000	Japan Bank for International Cooperation		2.375		11/16/22		309,943
	900,000	Japan Bank for International Cooperation		0.625		05/22/23		904,965
	1,050,000	Japan Bank for International Cooperation		3.375		07/31/23		1,121,121
	1,000,000	Japan Bank for International Cooperation		0.375		09/15/23		997,538
	4,250,000	Japan Bank for International Cooperation		3.375		10/31/23		4,563,784
	2,300,000	Japan Bank for International Cooperation		2.500		05/23/24		2,435,399
	720,000	Japan Bank for International Cooperation		1.750		10/17/24		747,967
	500,000	Japan Bank for International Cooperation		2.125		02/10/25		525,017
	3,000,000	Japan Bank for International Cooperation		0.625		07/15/25		2,945,760
	5,750,000	Japan Bank for International Cooperation		2.750		01/21/26		6,176,257
	400,000	Japan Bank for International Cooperation		2.375		04/20/26		422,604
	1,500,000	Japan Bank for International Cooperation		1.875		07/21/26		1,549,041
	1,000,000	Japan Bank for International Cooperation		2.875		06/01/27		1,087,520
	750,000	Japan Bank for International Cooperation		2.875		07/21/27		810,197
	300,000	Japan Bank for International Cooperation		2.750		11/16/27		321,531
	750,000	Japan Bank for International Cooperation		3.500		10/31/28		844,465
	1,000,000	Japan Bank for International Cooperation		2.000		10/17/29		1,012,437
	1,500,000	Japan Bank for International Cooperation		1.250		01/21/31		1,403,940
	350,000	Japan International Cooperation Agency		2.125		10/20/26		365,337
	700,000	Japan International Cooperation Agency		3.375		06/12/28		777,884
	2,000,000	Japan International Cooperation Agency		1.000		07/22/30		1,836,689
	500,000	Korea Development Bank		2.625		02/27/22		509,795
	500,000	Korea Development Bank		3.000		03/19/22		512,307
	200,000	Korea Development Bank		3.000		09/14/22		207,355
	1,000,000	Korea Development Bank		3.375		03/12/23		1,055,490
	500,000	Korea Development Bank		2.750		03/19/23		521,860
	950,000	Korea Development Bank		0.500		10/27/23		949,972
	500,000	Korea Development Bank		3.750		01/22/24		544,280
	700,000	Korea Development Bank		3.250		02/19/24		753,578
	500,000	Korea Development Bank		0.400		06/19/24		497,509
	1,000,000	Korea Development Bank		2.125		10/01/24		1,053,420
	750,000	Korea Development Bank		1.750		02/18/25		766,206
	200,000	Korea Development Bank		3.375		09/16/25		217,630

111

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	400,000	Korea Development Bank		3.000	%	01/13/26	$	432,852
	1,000,000	Korea Development Bank		0.800		04/27/26		977,462
	1,000,000	Korea Development Bank		0.800		07/19/26		976,130
	1,000,000	Korea Development Bank		1.000		09/09/26		984,870
	250,000	Korea Development Bank		2.000		09/12/26		259,360
	1,000,000	Korea Development Bank		1.625		01/19/31		951,760
	500,000	Korea Government International Bond		3.875		09/11/23		540,990
	1,500,000	Korea Government International Bond		2.750		01/19/27		1,615,711
	1,400,000	Korea Government International Bond		4.125		06/10/44		1,681,577
	500,000	Korea Government International Bond		3.875		09/20/48		592,151
	1,600,000	Kreditanstalt fuer Wiederaufbau		2.625		01/25/22		1,631,424
	1,000,000	Kreditanstalt fuer Wiederaufbau		2.125		03/07/22		1,018,255
	1,000,000	Kreditanstalt fuer Wiederaufbau		2.125		06/15/22		1,023,255
	2,750,000	Kreditanstalt fuer Wiederaufbau		2.000		10/04/22		2,824,140
	2,900,000	Kreditanstalt fuer Wiederaufbau		2.375		12/29/22		3,008,855
	4,600,000	Kreditanstalt fuer Wiederaufbau		1.625		02/15/23		4,720,566
	3,000,000	Kreditanstalt fuer Wiederaufbau		0.250		10/19/23		2,993,946
	8,000,000	Kreditanstalt fuer Wiederaufbau		2.625		02/28/24		8,511,527
	6,100,000	Kreditanstalt fuer Wiederaufbau		0.250		03/08/24		6,069,134
	2,000,000	Kreditanstalt fuer Wiederaufbau		2.500		11/20/24		2,135,442
	7,000,000	Kreditanstalt fuer Wiederaufbau		2.000		05/02/25		7,359,977
	4,500,000	Kreditanstalt fuer Wiederaufbau		0.625		01/22/26		4,423,314
	7,750,000	Kreditanstalt fuer Wiederaufbau		2.875		04/03/28		8,468,946
	1,000,000	Kreditanstalt fuer Wiederaufbau		1.750		09/14/29		1,003,450
	5,000,000	Kreditanstalt fuer Wiederaufbau		0.750		09/30/30		4,541,200
	4,300,000	Landwirtschaftliche Rentenbank		3.125		11/14/23		4,605,373
	500,000	Landwirtschaftliche Rentenbank		2.000		01/13/25		524,253
	2,000,000	Landwirtschaftliche Rentenbank		0.500		05/27/25		1,977,724
	750,000	Landwirtschaftliche Rentenbank		2.375		06/10/25		799,440
	1,000,000	Landwirtschaftliche Rentenbank		1.750		07/27/26		1,034,275
	125,000	Landwirtschaftliche Rentenbank		2.500		11/15/27		133,259
	4,000,000	Landwirtschaftliche Rentenbank		0.875		09/03/30		3,673,617
	2,500,000	Mexico Government International Bond		3.900		04/27/25		2,747,575
	5,836,000	Mexico Government International Bond		4.500		04/22/29		6,470,607
	18,964,000	Mexico Government International Bond		2.659		05/24/31		17,884,569
	1,175,000	Mexico Government International Bond		4.750		04/27/32		1,308,362
	461,000	Mexico Government International Bond		6.750		09/27/34		589,624
	8,950,000	Mexico Government International Bond		4.600		02/10/48		9,161,757
	1,000,000	Mexico Government International Bond		5.000		04/27/51		1,083,930
	5,936,000	Mexico Government International Bond		3.771		05/24/61		5,248,908
	3,000,000	Mexico Government International Bond		3.750		04/19/71		2,602,500
	950,000	Mexico Government International Bond		5.750		10/12/10		1,053,968
	2,000,000	Nordic Investment Bank		1.375		10/17/22		2,035,398
	750,000	Nordic Investment Bank		0.375		05/19/23		751,331
	500,000	Nordic Investment Bank		2.875		07/19/23		529,106
	2,000,000	Nordic Investment Bank		0.375		09/11/25		1,954,997
	1,500,000	Nordic Investment Bank		0.500		01/21/26		1,466,064
	606,000	North American Development Bank		2.400		10/26/22		622,583
	2,125,000	Panama Government International Bond		4.000		09/22/24		2,314,741
	1,000,000	Panama Government International Bond		3.750		03/16/25		1,089,900
	300,000	Panama Government International Bond		7.125		01/29/26		370,617
	2,000,000	Panama Government International Bond		3.875		03/17/28		2,184,960
	1,450,000	Panama Government International Bond		3.160		01/23/30		1,508,406
	2,500,000	Panama Government International Bond		2.252		09/29/32		2,376,275

112

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	692,000		Panama Government International Bond		6.700	%	01/26/36	$	930,747
	750,000		Panama Government International Bond		4.500		05/15/47		829,927
	1,750,000		Panama Government International Bond		4.500		04/16/50		1,929,427
	1,450,000		Panama Government International Bond		4.300		04/29/53		1,554,893
	1,500,000		Panama Government International Bond		4.500		04/01/56		1,640,205
	3,500,000		Panama Government International Bond		3.870		07/23/60		3,459,120
	400,000		Peruvian Government International Bond		2.392		01/23/26		411,688
	5,000,000		Peruvian Government International Bond		2.844		06/20/30		5,071,050
	2,500,000		Peruvian Government International Bond		2.783		01/23/31		2,500,525
	1,500,000		Peruvian Government International Bond		1.862		12/01/32		1,365,750
	1,100,000		Peruvian Government International Bond		6.550		03/14/37		1,485,000
	1,000,000		Peruvian Government International Bond		3.300		03/11/41		973,280
	1,850,000		Peruvian Government International Bond		5.625		11/18/50		2,447,365
	1,000,000		Peruvian Government International Bond		3.550		03/10/51		973,720
	1,500,000		Peruvian Government International Bond		2.780		12/01/60		1,236,405
	1,000,000		Peruvian Government International Bond		3.230		07/28/21		807,380
	225,000		Philippine Government International Bond		4.200		01/21/24		245,868
	2,219,000		Philippine Government International Bond		3.000		02/01/28		2,343,530
	3,375,000		Philippine Government International Bond		3.750		01/14/29		3,728,965
	1,500,000		Philippine Government International Bond		2.457		05/05/30		1,515,505
	2,000,000	e	Philippine Government International Bond		1.648		06/10/31		1,886,488
	4,083,000		Philippine Government International Bond		3.950		01/20/40		4,372,375
	300,000		Philippine Government International Bond		3.700		03/01/41		312,252
	3,793,000		Philippine Government International Bond		3.700		02/02/42		3,948,897
	1,500,000		Philippine Government International Bond		2.950		05/05/45		1,398,111
	1,500,000		Philippine Government International Bond		2.650		12/10/45		1,338,600
	1,140,000		Poland Government International Bond		5.000		03/23/22		1,189,656
	990,000		Poland Government International Bond		3.000		03/17/23		1,038,730
	1,000,000		Poland Government International Bond		4.000		01/22/24		1,094,978
	2,725,000		Poland Government International Bond		3.250		04/06/26		3,011,750
	2,500,000		Province of Alberta Canada		2.200		07/26/22		2,562,955
	750,000		Province of Alberta Canada		3.350		11/01/23		805,343
	775,000		Province of Alberta Canada		2.950		01/23/24		827,440
	1,500,000		Province of Alberta Canada		1.875		11/13/24		1,565,906
	1,000,000		Province of Alberta Canada		1.000		05/20/25		1,005,119
	925,000		Province of Alberta Canada		3.300		03/15/28		1,018,036
	2,000,000		Province of Alberta Canada		1.300		07/22/30		1,859,540
	200,000		Province of British Columbia Canada		2.650		09/22/21		202,268
	1,800,000		Province of British Columbia Canada		2.000		10/23/22		1,849,531
	2,000,000		Province of British Columbia Canada		1.750		09/27/24		2,079,720
	850,000		Province of British Columbia Canada		2.250		06/02/26		897,948
	1,500,000		Province of British Columbia Canada		1.300		01/29/31		1,411,142
	1,000,000		Province of Manitoba Canada		2.600		04/16/24		1,061,780
	1,300,000		Province of Manitoba Canada		3.050		05/14/24		1,398,123
	500,000		Province of Manitoba Canada		2.125		06/22/26		523,400
	500,000		Province of New Brunswick Canada		3.625		02/24/28		562,600
	200,000		Province of Nova Scotia Canada		8.250		07/30/22		220,068
	4,000,000		Province of Ontario Canada		2.400		02/08/22		4,072,117
	4,000,000		Province of Ontario Canada		2.550		04/25/22		4,097,613
	800,000		Province of Ontario Canada		2.450		06/29/22		821,525
	1,365,000		Province of Ontario Canada		1.750		01/24/23		1,400,845
	500,000		Province of Ontario Canada		3.400		10/17/23		537,553
	1,000,000		Province of Ontario Canada		3.050		01/29/24		1,071,575

113

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	1,500,000		Province of Ontario Canada			3.200	%	05/16/24	$	1,623,255
	2,000,000		Province of Ontario Canada			0.625		01/21/26		1,956,524
	1,000,000		Province of Ontario Canada			2.500		04/27/26		1,066,121
	1,000,000		Province of Ontario Canada			2.300		06/15/26		1,056,360
	1,000,000		Province of Ontario Canada			1.050		05/21/27		978,672
	2,000,000		Province of Ontario Canada			2.000		10/02/29		2,015,406
	1,000,000		Province of Ontario Canada			1.125		10/07/30		921,970
	3,000,000		Province of Ontario Canada			1.600		02/25/31		2,867,736
	3,100,000		Province of Quebec Canada			2.625		02/13/23		3,234,193
	200,000		Province of Quebec Canada			7.125		02/09/24		236,401
	875,000	e	Province of Quebec Canada			2.500		04/09/24		927,242
	500,000		Province of Quebec Canada			2.875		10/16/24		538,768
	2,500,000		Province of Quebec Canada			1.500		02/11/25		2,572,813
	2,000,000		Province of Quebec Canada			0.600		07/23/25		1,970,540
	3,500,000		Province of Quebec Canada			2.500		04/20/26		3,734,640
	500,000		Province of Quebec Canada			2.750		04/12/27		539,436
	201,000		Province of Quebec Canada			7.500		09/15/29		285,240
	1,500,000		Province of Quebec Canada			1.350		05/28/30		1,425,906
	200,000		Province of Saskatchewan Canada			8.500		07/15/22		220,381
	1,600,000		Republic of Italy Government International Bond			6.875		09/27/23		1,836,713
	2,000,000		Republic of Italy Government International Bond			2.375		10/17/24		2,086,593
	3,000,000		Republic of Italy Government International Bond			1.250		02/17/26		2,935,074
	1,500,000		Republic of Italy Government International Bond			2.875		10/17/29		1,516,182
	1,599,000		Republic of Italy Government International Bond			5.375		06/15/33		1,946,747
	2,000,000		Republic of Italy Government International Bond			4.000		10/17/49		2,046,594
	2,000,000		State of Israel			2.500		01/15/30		2,051,083
	2,050,000		State of Israel			3.375		01/15/50		2,071,484
	500,000		Svensk Exportkredit AB			2.375		03/09/22		510,075
	2,640,000		Svensk Exportkredit AB			1.625		11/14/22		2,698,080
	4,250,000		Svensk Exportkredit AB			2.875		03/14/23		4,460,981
	870,000		Svensk Exportkredit AB			1.750		12/12/23		900,198
	2,000,000		Svensk Exportkredit AB			0.375		07/30/24		1,987,883
	1,000,000		Svensk Exportkredit AB			0.625		05/14/25		992,223
	3,000,000		Svensk Exportkredit AB			0.500		08/26/25		2,940,630
	5,374,716		Uruguay Government International Bond			4.375		01/23/31		6,233,811
	500,000		Uruguay Government International Bond			4.125		11/20/45		556,290
	2,063,907		Uruguay Government International Bond			5.100		06/18/50		2,556,892
	2,425,000		Uruguay Government International Bond			4.975		04/20/55		2,971,425
			TOTAL FOREIGN GOVERNMENT BONDS							732,929,910

MORTGAGE BACKED - 27.4%
	11,931	i	Federal Home Loan Mortgage Corp (FHLMC)	DGS1 + 2.250%		3.308		04/01/35		12,328
	2,255	i	FHLMC	DGS1 + 2.125%		2.300		10/01/35		2,254
	32,410	i	FHLMC	DGS1 + 2.255%		2.380		02/01/36		34,630
	10,008	i	FHLMC	LIBOR 12 M + 1.796%		3.083		07/01/36		10,606
	22,078	i	FHLMC	LIBOR 6 M + 1.790%		2.040		09/01/36		23,051
	31,755	i	FHLMC	LIBOR 6 M + 1.595%		2.100		09/01/36		31,956
	28,788	i	FHLMC	DGS1 + 2.248%		2.386		09/01/36		29,331
	10,905	i	FHLMC	DGS1 + 2.250%		2.398		01/01/37		11,646
	1,864	i	FHLMC	LIBOR 12 M + 1.765%		2.140		02/01/37		1,892
	1,627	i	FHLMC	DGS1 + 2.250%		2.388		02/01/37		1,738
	95,761	i	FHLMC	LIBOR 12 M + 1.826%		2.406		03/01/37		101,674
	73,370	i	FHLMC	DGS1 + 2.250%		2.582		04/01/37		78,433
	42,782	i	FHLMC	LIBOR 12 M + 1.701%		3.489		04/01/37		43,354

114

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	10,164	i	FHLMC	LIBOR 12 M + 2.124%		3.445	%	05/01/37	$	10,256
	36,665	i	FHLMC	DGS1 + 2.249%		2.635		06/01/37		36,895
	5,007	i	FHLMC	LIBOR 12 M + 1.750%		2.667		06/01/37		5,108
	29,431	i	FHLMC	LIBOR 6 M + 1.270%		1.520		08/01/37		29,554
	48,793	i	FHLMC	LIBOR 12 M + 0.905%		1.596		09/01/37		49,481
	8,987	i	FHLMC	LIBOR 6 M + 1.532%		1.782		09/01/37		9,067
	211	i	FHLMC	LIBOR 12 M + 1.795%		2.417		09/01/37		211
	4,679	i	FHLMC	LIBOR 12 M + 2.058%		4.058		02/01/38		4,687
	22,477	i	FHLMC	LIBOR 12 M + 2.055%		3.805		04/01/38		23,938
	9,750	i	FHLMC	LIBOR 12 M + 2.004%		3.694		06/01/38		9,860
	4,758	i	FHLMC	LIBOR 12 M + 1.625%		2.375		07/01/38		4,994
	5,359	i	FHLMC	LIBOR 12 M + 1.861%		2.814		06/01/40		5,368
	6,174	i	FHLMC	LIBOR 12 M + 1.880%		2.630		07/01/40		6,203
	13,366	i	FHLMC	LIBOR 12 M + 1.890%		2.264		01/01/41		13,536
	3,320	i	FHLMC	LIBOR 12 M + 1.880%		3.630		05/01/41		3,321
	107,961	i	FHLMC	LIBOR 12 M + 1.856%		2.606		08/01/41		109,843
	73,445	i	FHLMC	LIBOR 12 M + 1.750%		2.318		09/01/41		77,342
	13,410	i	FHLMC	LIBOR 12 M + 1.860%		2.360		10/01/41		14,176
	19,893,816		FHLMC			3.000		11/01/49		21,038,776
	19,267,758		FHLMC			3.000		11/01/49		20,369,094
	38,928,601		FHLMC			3.000		02/01/50		41,166,738
	33,367,469		FHLMC			3.500		04/01/50		35,791,978
	20,183,039		FHLMC			3.500		07/01/50		21,366,112
	36		Federal Home Loan Mortgage Corp Gold (FGLMC)			4.000		05/01/21		38
	2		FGLMC			4.500		06/01/21		2
	1		FGLMC			4.500		06/01/21		2
	60		FGLMC			5.500		07/01/21		60
	83,682		FGLMC			3.000		12/01/21		88,257
	903		FGLMC			5.000		10/01/22		947
	698		FGLMC			6.000		11/01/22		714
	11,305		FGLMC			5.000		04/01/23		11,873
	788		FGLMC			4.500		05/01/23		827
	11,253		FGLMC			5.000		05/01/23		12,432
	3,044		FGLMC			5.000		10/01/23		3,197
	1,848		FGLMC			5.500		10/01/23		2,059
	3,331		FGLMC			5.000		11/01/23		3,680
	6,859		FGLMC			5.000		03/01/24		7,579
	1,375		FGLMC			4.500		04/01/24		1,445
	677		FGLMC			4.500		05/01/24		712
	4,759		FGLMC			4.500		06/01/24		5,003
	44,536		FGLMC			4.000		07/01/24		47,391
	18,646		FGLMC			4.000		07/01/24		19,841
	4,554		FGLMC			5.500		07/01/24		4,706
	38,193		FGLMC			4.000		08/01/24		40,640
	6,715		FGLMC			4.500		09/01/24		7,068
	3,480		FGLMC			4.500		09/01/24		3,663
	1,942		FGLMC			4.500		09/01/24		2,046
	2,276		FGLMC			5.500		09/01/24		2,536
	57,368		FGLMC			4.000		10/01/24		61,064
	1,724		FGLMC			4.500		10/01/24		1,816
	7,914		FGLMC			4.500		10/01/24		8,602
	1,438		FGLMC			4.500		11/01/24		1,514
	7,294		FGLMC			4.500		12/01/24		7,749

115

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	3,322	FGLMC		4.500	%	02/01/25	$	3,497
	80,513	FGLMC		4.000		03/01/25		85,703
	2,322	FGLMC		4.500		06/01/25		2,456
	4,597	FGLMC		4.500		07/01/25		4,897
	110,595	FGLMC		3.500		10/01/25		118,023
	51,344	FGLMC		4.000		10/01/25		54,662
	183,155	FGLMC		3.500		11/01/25		195,437
	111,261	FGLMC		3.500		11/01/25		118,727
	48,703	FGLMC		3.500		12/01/25		51,968
	26,004	FGLMC		3.000		01/01/26		27,494
	388,844	FGLMC		3.500		01/01/26		414,977
	31,437	FGLMC		4.000		04/01/26		33,543
	68,538	FGLMC		4.000		05/01/26		73,156
	15,314	FGLMC		5.500		07/01/26		17,080
	195,841	FGLMC		4.000		08/01/26		209,094
	1,705	FGLMC		6.000		08/01/26		1,915
	67,586	FGLMC		3.000		09/01/26		71,480
	193,729	FGLMC		3.000		10/01/26		204,874
	291,774	FGLMC		3.500		10/01/26		311,458
	6,998	FGLMC		5.000		10/01/26		7,736
	2,115	FGLMC		5.500		10/01/26		2,359
	1,131,755	FGLMC		3.000		02/01/27		1,197,087
	732,593	FGLMC		2.500		05/01/27		765,046
	780,311	FGLMC		2.500		11/01/27		814,915
	30,240	FGLMC		6.000		12/01/27		33,976
	617,244	FGLMC		2.500		01/01/28		644,644
	1,637,281	FGLMC		2.500		03/01/28		1,710,017
	42,527	FGLMC		5.000		03/01/28		47,069
	914,679	FGLMC		2.500		05/01/28		955,289
	4,625	FGLMC		5.500		05/01/28		5,170
	2,704,320	FGLMC		2.500		07/01/28		2,828,832
	2,314,465	FGLMC		2.500		07/01/28		2,417,358
	591,346	FGLMC		3.000		10/01/28		625,516
	31,522	FGLMC		5.500		01/01/29		35,232
	1,867	FGLMC		6.500		01/01/29		2,096
	5,064	FGLMC		4.000		02/01/29		5,432
	1,262,249	FGLMC		3.500		03/01/29		1,362,066
	325	FGLMC		6.500		03/01/29		369
	2,328,079	FGLMC		3.000		07/01/29		2,462,565
	8,318	FGLMC		6.500		07/01/29		9,340
	8,940	FGLMC		5.000		12/01/29		9,984
	6,478,969	FGLMC		2.500		05/01/30		6,766,682
	16,152	FGLMC		4.000		08/01/30		17,485
	120,244	FGLMC		4.500		01/01/31		132,617
	323	FGLMC		8.000		01/01/31		331
	109,183	FGLMC		4.000		03/01/31		118,171
	14,684	FGLMC		4.000		05/01/31		15,893
	101,009	FGLMC		4.500		05/01/31		111,393
	52,757	FGLMC		4.000		06/01/31		57,102
	122,066	FGLMC		4.000		08/01/31		132,116
	134,114	FGLMC		4.000		09/01/31		145,978
	1,964	FGLMC		6.500		09/01/31		2,236
	3,967	FGLMC		8.000		09/01/31		4,487
	65,665	FGLMC		3.500		11/01/31		70,262

116

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	9,881,350	FGLMC		2.500	%	12/01/31	$	10,285,557
	36,696	FGLMC		7.000		12/01/31		41,990
	9,682	FGLMC		6.500		01/01/32		11,245
	23,513	FGLMC		6.000		02/01/32		27,980
	1,110,137	FGLMC		3.000		03/01/32		1,168,784
	9,990	FGLMC		7.000		04/01/32		11,573
	7,503	FGLMC		6.500		05/01/32		8,425
	750,015	FGLMC		3.500		09/01/32		810,928
	5,682	FGLMC		5.500		11/01/32		6,601
	10,715,298	FGLMC		3.000		01/01/33		11,322,328
	7,867	FGLMC		6.000		02/01/33		9,219
	28,744	FGLMC		5.000		03/01/33		33,004
	15,063	FGLMC		6.000		03/01/33		16,979
	17,727	FGLMC		6.000		03/01/33		19,956
	15,532	FGLMC		5.000		04/01/33		17,311
	3,656	FGLMC		6.000		04/01/33		4,358
	205,799	FGLMC		5.000		06/01/33		228,712
	68,847	FGLMC		5.500		06/01/33		80,162
	38,815,791	FGLMC		2.500		07/01/33		40,390,155
	1,521,306	FGLMC		3.500		07/01/33		1,644,550
	28,271	FGLMC		4.500		07/01/33		31,466
	4,823,828	FGLMC		4.000		08/01/33		5,153,755
	2,524	FGLMC		5.000		08/01/33		2,910
	9,820	FGLMC		6.500		08/01/33		11,413
	92,656	FGLMC		5.000		09/01/33		107,202
	38,870	FGLMC		5.500		09/01/33		44,557
	66,900	FGLMC		5.500		09/01/33		77,174
	12,609	FGLMC		5.500		09/01/33		14,292
	36,060	FGLMC		5.500		09/01/33		40,735
	19,661	FGLMC		4.000		10/01/33		21,501
	5,370	FGLMC		5.000		10/01/33		6,220
	72,713	FGLMC		5.500		10/01/33		83,750
	3,694,494	FGLMC		3.500		11/01/33		3,939,781
	48,920	FGLMC		5.500		12/01/33		56,919
	16,225	FGLMC		5.500		12/01/33		18,938
	200,683	FGLMC		7.000		12/01/33		231,845
	153,833	FGLMC		5.000		01/01/34		177,880
	1,308,866	FGLMC		3.000		02/01/34		1,381,978
	3,522	FGLMC		5.500		02/01/34		4,108
	19,946	FGLMC		5.000		03/01/34		23,152
	21,482	FGLMC		5.500		03/01/34		25,075
	68,933	FGLMC		5.000		05/01/34		80,227
	22,698	FGLMC		4.500		06/01/34		25,264
	45,133	FGLMC		5.000		06/01/34		51,943
	15,731	FGLMC		5.500		06/01/34		18,402
	7,925	FGLMC		6.000		06/01/34		9,275
	33,500	FGLMC		6.000		09/01/34		39,227
	2,720,039	FGLMC		3.500		10/01/34		2,921,532
	4,890	FGLMC		5.000		11/01/34		5,680
	177,242	FGLMC		5.500		11/01/34		207,489
	169,515	FGLMC		5.000		12/01/34		196,970
	34,439	FGLMC		5.500		12/01/34		40,170
	7,416	FGLMC		5.500		12/01/34		8,288

117

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	2,627	FGLMC		5.500	%	01/01/35	$	3,075
	1,388	FGLMC		5.500		01/01/35		1,625
	21,960	FGLMC		5.500		01/01/35		25,707
	63,874	FGLMC		4.500		04/01/35		71,061
	8,997	FGLMC		6.000		05/01/35		10,755
	74,138	FGLMC		6.000		05/01/35		85,265
	55,921	FGLMC		7.000		05/01/35		63,628
	13,595	FGLMC		5.500		06/01/35		15,914
	9,121	FGLMC		5.500		06/01/35		10,677
	4,599	FGLMC		5.000		07/01/35		5,327
	242,815	FGLMC		5.000		07/01/35		282,605
	300,480	FGLMC		5.000		08/01/35		349,729
	13,849	FGLMC		5.500		08/01/35		15,472
	80,107	FGLMC		6.000		08/01/35		90,111
	4,266	FGLMC		4.500		09/01/35		4,756
	24,225	FGLMC		5.000		10/01/35		28,060
	48,024	FGLMC		5.000		10/01/35		55,897
	18,687	FGLMC		5.000		10/01/35		21,646
	155,092	FGLMC		5.500		10/01/35		173,583
	41,211	FGLMC		5.000		12/01/35		47,737
	5,207	FGLMC		5.000		12/01/35		6,059
	23,309	FGLMC		6.000		01/01/36		27,867
	10,593	FGLMC		5.000		02/01/36		12,323
	4,270	FGLMC		5.000		02/01/36		4,966
	4,443	FGLMC		6.000		02/01/36		5,261
	38,277	FGLMC		5.500		04/01/36		43,947
	10,823	FGLMC		5.500		05/01/36		12,669
	184,497	FGLMC		6.000		06/01/36		220,577
	47,907	FGLMC		5.000		07/01/36		55,737
	82,896	FGLMC		6.000		07/01/36		99,102
	10,379	FGLMC		6.000		08/01/36		12,409
	6,505	FGLMC		6.000		09/01/36		7,324
	183,691	FGLMC		5.500		10/01/36		215,045
	86,590	FGLMC		5.500		10/01/36		101,371
	18,093	FGLMC		6.500		10/01/36		20,834
	8,049	FGLMC		5.500		11/01/36		9,440
	20,761	FGLMC		6.000		11/01/36		24,821
	118,448	FGLMC		6.000		12/01/36		141,614
	164,879	FGLMC		5.500		03/01/37		193,440
	61,895	FGLMC		6.000		03/01/37		74,001
	7,562	FGLMC		6.500		03/01/37		8,709
	59,134	FGLMC		5.500		04/01/37		69,451
	9,911	FGLMC		5.000		05/01/37		11,537
	7,803	FGLMC		5.000		06/01/37		9,015
	26,459	FGLMC		5.500		06/01/37		31,086
	7,482,018	FGLMC		3.000		07/01/37		7,812,248
	105,799	FGLMC		6.000		07/01/37		126,280
	52,933	FGLMC		6.000		08/01/37		63,290
	16,694	FGLMC		6.000		09/01/37		19,842
	151,481	FGLMC		5.500		10/01/37		171,690
	4,991	FGLMC		6.000		11/01/37		5,967
	56,612	FGLMC		6.500		11/01/37		66,749
	22,187	FGLMC		6.000		01/01/38		26,437
	8,382	FGLMC		6.000		02/01/38		9,928

118

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	66,546	FGLMC		6.000	%	02/01/38	$	79,429
	105,188	FGLMC		5.000		03/01/38		122,363
	296,343	FGLMC		5.000		03/01/38		344,938
	12,446	FGLMC		5.000		04/01/38		14,521
	127,601	FGLMC		5.000		04/01/38		148,539
	126,636	FGLMC		5.500		04/01/38		144,845
	31,301	FGLMC		5.500		05/01/38		36,801
	3,549	FGLMC		5.500		06/01/38		4,172
	4,031	FGLMC		6.000		07/01/38		4,546
	117,677	FGLMC		5.500		08/01/38		138,255
	18,502	FGLMC		5.500		08/01/38		21,651
	14,640	FGLMC		5.000		09/01/38		17,031
	201,835	FGLMC		5.500		09/01/38		237,146
	63,705	FGLMC		5.500		09/01/38		74,706
	3,786	FGLMC		5.500		10/01/38		4,451
	74,509	FGLMC		6.000		11/01/38		87,810
	522,665	FGLMC		5.500		01/01/39		614,470
	365,313	FGLMC		4.500		02/01/39		409,902
	208,640	FGLMC		5.000		02/01/39		242,704
	14,363	FGLMC		5.500		02/01/39		16,816
	448	FGLMC		4.500		03/01/39		490
	85,902	FGLMC		5.000		03/01/39		100,001
	10,451	FGLMC		6.000		03/01/39		12,338
	16,393	FGLMC		4.500		04/01/39		18,444
	624,131	FGLMC		4.500		04/01/39		703,973
	138,737	FGLMC		4.000		05/01/39		152,940
	3,520	FGLMC		4.500		05/01/39		3,949
	87,287	FGLMC		4.500		05/01/39		98,455
	1,889,085	FGLMC		4.500		05/01/39		2,130,839
	159,290	FGLMC		4.500		05/01/39		177,170
	78,358	FGLMC		5.000		05/01/39		91,207
	178,578	FGLMC		4.000		06/01/39		196,554
	863,333	FGLMC		4.500		06/01/39		973,786
	28,769	FGLMC		4.500		06/01/39		32,337
	13,540	FGLMC		5.000		06/01/39		15,762
	5,380	FGLMC		5.500		06/01/39		6,299
	284,146	FGLMC		4.000		07/01/39		314,699
	107,348	FGLMC		4.500		07/01/39		120,451
	21,132	FGLMC		4.500		07/01/39		23,712
	9,140	FGLMC		4.500		07/01/39		10,184
	71,421	FGLMC		5.000		07/01/39		83,142
	119,526	FGLMC		5.500		07/01/39		138,376
	9,860	FGLMC		4.500		08/01/39		11,083
	22,406	FGLMC		5.000		08/01/39		25,957
	144,640	FGLMC		4.000		09/01/39		159,983
	553,261	FGLMC		5.000		09/01/39		643,433
	188,852	FGLMC		5.000		09/01/39		219,851
	1,426	FGLMC		5.500		09/01/39		1,601
	229,563	FGLMC		6.500		09/01/39		262,009
	37,787	FGLMC		4.500		10/01/39		42,624
	59,597	FGLMC		4.500		10/01/39		67,228
	74,483	FGLMC		4.500		10/01/39		83,575
	29,037	FGLMC		5.000		10/01/39		33,803

119

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	14,930	FGLMC		4.000	%	11/01/39	$	16,433
	48,521	FGLMC		4.500		11/01/39		54,444
	18,894	FGLMC		5.000		11/01/39		21,995
	9,929	FGLMC		5.000		11/01/39		11,000
	51,410	FGLMC		4.500		12/01/39		57,991
	102,284	FGLMC		4.500		12/01/39		114,772
	207,793	FGLMC		4.500		12/01/39		234,394
	44,526	FGLMC		4.500		12/01/39		49,962
	79,998	FGLMC		5.500		12/01/39		93,993
	113,479	FGLMC		4.500		01/01/40		128,002
	10,453	FGLMC		5.000		01/01/40		12,169
	14,084	FGLMC		5.500		01/01/40		16,515
	35,095	FGLMC		5.500		03/01/40		41,256
	477,301	FGLMC		4.000		04/01/40		526,168
	22,263	FGLMC		4.500		04/01/40		24,982
	74,088	FGLMC		4.500		04/01/40		83,135
	55,688	FGLMC		5.000		04/01/40		64,514
	141,322	FGLMC		5.000		04/01/40		164,518
	451,123	FGLMC		6.000		04/01/40		533,813
	1,242,031	FGLMC		4.500		05/01/40		1,396,103
	663,080	FGLMC		5.000		05/01/40		766,302
	3,963	FGLMC		4.500		06/01/40		4,470
	356,075	FGLMC		5.500		06/01/40		417,057
	597,181	FGLMC		4.500		07/01/40		673,604
	11,236	FGLMC		4.500		08/01/40		12,608
	117,396	FGLMC		5.000		08/01/40		136,663
	300,538	FGLMC		5.000		08/01/40		349,863
	28,189	FGLMC		5.000		08/01/40		32,340
	1,804,820	FGLMC		5.500		08/01/40		2,120,427
	158,034	FGLMC		4.000		09/01/40		173,946
	1,997,004	FGLMC		4.000		11/01/40		2,201,583
	1,291,332	FGLMC		4.000		12/01/40		1,430,147
	213,242	FGLMC		3.500		01/01/41		230,583
	328,772	FGLMC		3.500		01/01/41		355,448
	190,884	FGLMC		4.000		01/01/41		210,032
	185,082	FGLMC		3.500		02/01/41		200,131
	727,927	FGLMC		4.000		02/01/41		800,677
	254,950	FGLMC		4.000		02/01/41		279,633
	1,183,972	FGLMC		4.000		04/01/41		1,298,696
	217,181	FGLMC		4.500		04/01/41		243,657
	48,746	FGLMC		5.000		04/01/41		56,731
	199,163	FGLMC		4.500		05/01/41		221,885
	236,687	FGLMC		4.500		06/01/41		266,933
	592,983	FGLMC		3.500		10/01/41		640,942
	515,580	FGLMC		5.000		10/01/41		600,039
	863,898	FGLMC		3.500		11/01/41		934,212
	315,481	FGLMC		4.500		12/01/41		353,870
	2,684,199	FGLMC		3.500		01/01/42		2,903,007
	792,600	FGLMC		3.500		02/01/42		857,211
	857,424	FGLMC		3.500		04/01/42		926,994
	2,103,879	FGLMC		4.000		05/01/42		2,328,899
	6,171,543	FGLMC		4.500		05/01/42		6,950,395
	1,367,313	FGLMC		3.500		07/01/42		1,487,080
	326,198	FGLMC		3.000		08/01/42		345,220

120

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	2,251,931	FGLMC		3.000	%	10/01/42	$	2,383,267
	1,581,035	FGLMC		3.000		10/01/42		1,681,719
	694,572	FGLMC		3.500		12/01/42		755,472
	2,204,647	FGLMC		2.500		01/01/43		2,283,584
	4,431,907	FGLMC		3.000		01/01/43		4,695,133
	6,736,060	FGLMC		3.000		04/01/43		7,136,205
	16,007,967	FGLMC		3.000		04/01/43		17,027,617
	2,037,102	FGLMC		3.500		05/01/43		2,202,696
	2,732,634	FGLMC		3.000		08/01/43		2,906,706
	1,872,418	FGLMC		3.000		08/01/43		1,991,691
	2,091,572	FGLMC		3.500		08/01/43		2,260,737
	991,888	FGLMC		4.500		10/01/43		1,120,043
	1,101,688	FGLMC		4.000		11/01/43		1,208,760
	2,009,683	FGLMC		3.500		02/01/44		2,168,614
	1,673,296	FGLMC		4.000		02/01/44		1,841,107
	11,552,716	FGLMC		4.000		02/01/44		12,731,471
	762,623	FGLMC		4.000		04/01/44		836,501
	968,021	FGLMC		4.500		05/01/44		1,076,997
	1,729,513	FGLMC		4.000		06/01/44		1,896,482
	2,655,724	FGLMC		4.000		08/01/44		2,911,805
	1,964,791	FGLMC		3.500		09/01/44		2,113,268
	2,772,765	FGLMC		3.500		11/01/44		2,980,694
	3,601,396	FGLMC		3.500		12/01/44		3,868,725
	2,236,257	FGLMC		3.500		01/01/45		2,413,422
	4,309,358	FGLMC		3.000		02/01/45		4,536,893
	5,789,523	FGLMC		3.500		03/01/45		6,222,762
	3,179,589	FGLMC		4.000		03/01/45		3,497,350
	2,100,141	FGLMC		3.000		04/01/45		2,211,209
	4,167,739	FGLMC		3.500		04/01/45		4,478,048
	11,175,392	FGLMC		3.500		07/01/45		12,034,814
	8,337,138	FGLMC		4.500		07/01/45		9,268,807
	22,195,191	FGLMC		3.000		08/01/45		23,592,167
	17,194,770	FGLMC		3.500		10/01/45		18,657,069
	3,730,380	FGLMC		4.000		11/01/45		4,072,622
	7,080,489	FGLMC		3.500		12/01/45		7,598,096
	15,770,061	FGLMC		3.000		03/01/46		16,544,411
	5,434,882	FGLMC		3.500		03/01/46		5,831,078
	2,808,985	FGLMC		4.000		03/01/46		3,058,808
	11,724,996	FGLMC		3.000		04/01/46		12,301,112
	12,822,929	FGLMC		3.500		05/01/46		13,826,675
	8,513,492	FGLMC		3.500		08/01/46		9,149,756
	17,092,761	FGLMC		3.000		09/01/46		18,039,996
	7,143,807	FGLMC		4.000		09/01/46		7,660,666
	6,176,744	FGLMC		3.000		11/01/46		6,534,017
	22,730,038	FGLMC		3.000		11/01/46		23,828,100
	7,254,285	FGLMC		3.000		11/01/46		7,633,178
	4,326,599	FGLMC		3.000		12/01/46		4,549,414
	6,016,868	FGLMC		3.500		12/01/46		6,410,761
	9,615,612	FGLMC		3.000		02/01/47		10,170,891
	3,598,816	FGLMC		3.500		02/01/47		3,837,881
	3,237,688	FGLMC		4.000		02/01/47		3,505,500
	6,303,423	FGLMC		3.500		05/01/47		6,691,813
	3,664,308	FGLMC		3.000		08/01/47		3,847,513

121

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	4,914,059	FGLMC		3.000	%	11/01/47	$	5,143,106
	8,054,910	FGLMC		3.000		12/01/47		8,405,935
	19,384,878	FGLMC		3.000		01/01/48		20,478,306
	9,018,832	FGLMC		3.000		02/01/48		9,409,379
	7,490,856	FGLMC		3.500		03/01/48		7,967,209
	7,112,221	FGLMC		3.500		05/01/48		7,526,808
	5,304,039	FGLMC		4.000		05/01/48		5,714,861
	7,439,670	FGLMC		3.500		07/01/48		7,877,517
	8,139,221	FGLMC		4.000		07/01/48		8,734,562
	14,709,316	FGLMC		4.000		08/01/48		15,777,406
	2,924,708	FGLMC		4.500		09/01/48		3,188,053
	11,670,848	FGLMC		4.000		10/01/48		12,515,801
	7,085,984	FGLMC		4.500		12/01/48		7,713,605
	4,025,709	FGLMC		4.500		02/01/49		4,380,821
	9,435,981	FGLMC		3.500		05/01/49		9,961,031
	336	Federal National Mortgage Association (FNMA)		5.500		08/01/21		337
	117	FNMA		6.000		08/01/21		118
	1	FNMA		5.000		10/01/21		1
	1	FNMA		5.000		11/01/21		1
	76	FNMA		5.500		11/01/21		76
	1,381	FNMA		5.500		10/01/22		1,410
	782	FNMA		6.000		10/01/22		801
	397	FNMA		5.000		03/01/23		417
	11,528	FNMA		4.500		06/01/23		12,097
	1,434	FNMA		5.000		06/01/23		1,506
	2,095	FNMA		5.500		06/01/23		2,334
	1,765	FNMA		5.000		07/01/23		1,852
	18,181	FNMA		5.000		07/01/23		19,098
	1,669	FNMA		5.500		08/01/23		1,721
	4,334	FNMA		5.000		11/01/23		4,786
	7	FNMA		5.500		11/01/23		7
	9,251	FNMA		5.500		01/01/24		9,362
	4,896	FNMA		5.500		02/01/24		5,455
	19,477	FNMA		4.000		03/01/24		20,719
	1,624	FNMA		4.500		04/01/24		1,707
	78,265	FNMA		4.000		05/01/24		83,260
	24,248	FNMA		4.000		05/01/24		25,805
	2,083	FNMA		4.000		06/01/24		2,216
	2,772	FNMA		4.500		07/01/24		2,920
	2,915	FNMA		5.500		07/01/24		3,248
	65	FNMA		8.000		07/01/24		70
	15,709	FNMA		4.500		08/01/24		16,500
	54,244	FNMA		4.000		09/01/24		57,719
	16,110	FNMA		4.000		09/01/24		17,153
	5,352	FNMA		4.500		09/01/24		5,643
	142,507	FNMA		4.500		10/01/24		150,354
	7,995	FNMA		5.000		01/01/25		8,833
	11,424	FNMA		4.500		02/01/25		12,044
	79,431	FNMA		4.500		03/01/25		84,544
	1,523	FNMA		4.500		03/01/25		1,600
	37,223	FNMA		5.000		03/01/25		41,136
	24,822	FNMA		4.500		04/01/25		26,387
	58,922	FNMA		4.500		04/01/25		62,273
	297,168	FNMA		4.000		05/01/25		316,283

122

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	112,860	FNMA		4.000	%	06/01/25	$	120,179
	60,402	FNMA		4.500		06/01/25		63,669
	33,019	FNMA		4.000		08/01/25		35,164
	17,629	FNMA		5.500		08/01/25		19,847
	127,916	FNMA		3.500		09/01/25		136,463
	147,390	FNMA		4.000		09/01/25		156,813
	243,685	FNMA		3.500		10/01/25		260,023
	199,337	FNMA		3.500		10/01/25		212,609
	87,041	FNMA		5.000		10/01/25		96,240
	137,012	FNMA		4.000		11/01/25		145,896
	212,796	FNMA		3.500		12/01/25		227,050
	986,048	FNMA		3.500		02/01/26		1,052,060
	159,514	FNMA		3.500		02/01/26		170,187
	50,904	FNMA		4.000		03/01/26		54,322
	155,742	FNMA		4.000		06/01/26		166,284
	135,885	FNMA		3.500		08/01/26		144,858
	105,524	FNMA		3.500		09/01/26		112,618
	56,691	FNMA		4.000		09/01/26		60,496
	180,073	FNMA		3.500		10/01/26		192,136
	3,734	FNMA		6.000		10/01/26		4,192
	244,490	FNMA		3.000		11/01/26		258,320
	219,198	FNMA		3.000		12/01/26		231,769
	591,942	FNMA		3.000		01/01/27		625,907
	613,523	FNMA		4.000		01/01/27		653,189
	459,296	FNMA		3.500		02/01/27		489,971
	731,711	FNMA		3.000		04/01/27		773,777
	471,012	FNMA		3.000		04/01/27		498,053
	270,985	FNMA		3.500		05/01/27		291,608
	303,796	FNMA		2.500		06/01/27		317,138
	850,171	FNMA		3.000		06/01/27		899,080
	359,957	FNMA		2.500		07/01/27		375,819
	768,044	FNMA		2.500		09/01/27		801,928
	8,862	FNMA		5.500		09/01/27		9,898
	1,276,443	FNMA		2.500		10/01/27		1,332,738
	790,081	FNMA		3.000		11/01/27		834,906
	1,579	FNMA		5.500		01/01/28		1,772
	3,158,989	FNMA		2.500		02/01/28		3,305,157
	2,504,073	FNMA		2.500		02/01/28		2,614,659
	1,181	FNMA		5.000		02/01/28		1,313
	1,856,656	FNMA		2.500		04/01/28		1,938,651
	2,703,132	FNMA		2.500		04/01/28		2,822,551
	7,040	FNMA		5.500		06/01/28		7,867
	755,173	FNMA		2.500		07/01/28		788,490
	1,520,900	FNMA		2.500		08/01/28		1,588,006
	1,941,064	FNMA		3.000		10/01/28		2,052,857
	1,275	FNMA		5.500		11/01/28		1,425
	7	FNMA		7.500		01/01/29		8
	2,425,863	FNMA		3.000		03/01/29		2,565,022
	9,326	FNMA		4.000		03/01/29		10,000
	8,981,717	FNMA		3.000		04/01/29		9,527,831
	35,242	FNMA		4.500		04/01/29		38,335
	27,011	FNMA		4.000		05/01/29		28,959
	13,957	FNMA		4.500		06/01/29		15,181

123

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	4,791	FNMA		4.000	%	07/01/29	$	5,159
	90,950	FNMA		4.500		08/01/29		99,800
	11,371,584	FNMA		3.500		09/01/29		12,406,353
	18,347	FNMA		4.500		09/01/29		20,115
	18,054	FNMA		4.500		11/01/29		19,662
	5,057	FNMA		4.500		01/01/30		5,550
	1,476,444	FNMA		2.500		02/01/30		1,541,392
	12,088	FNMA		4.000		03/01/30		13,047
	5,442	FNMA		4.500		05/01/30		5,973
	7,533	FNMA		4.500		06/01/30		8,268
	3,471,985	FNMA		3.000		07/01/30		3,673,743
	69,077	FNMA		4.500		08/01/30		75,824
	15,187	FNMA		4.000		09/01/30		16,435
	98,602	FNMA		4.000		10/01/30		106,679
	858,965	FNMA		4.000		11/01/30		929,569
	157,409	FNMA		4.000		11/01/30		170,311
	32,965	FNMA		4.500		12/01/30		36,349
	3,066,254	FNMA		3.000		02/01/31		3,242,887
	48,664	FNMA		3.500		02/01/31		52,327
	53,033	FNMA		4.000		02/01/31		57,381
	481	FNMA		7.500		03/01/31		571
	3,843,868	FNMA		2.500		04/01/31		3,999,042
	144,153	FNMA		3.500		04/01/31		152,904
	16,473	FNMA		4.000		04/01/31		17,823
	3,264,797	FNMA		3.000		05/01/31		3,454,932
	1,563	FNMA		6.000		05/01/31		1,843
	4,017,107	FNMA		2.500		06/01/31		4,179,633
	648,349	FNMA		4.500		07/01/31		722,515
	88,081	FNMA		4.500		07/01/31		97,109
	502,610	FNMA		4.000		08/01/31		551,183
	5,235,813	FNMA		2.500		09/01/31		5,447,812
	2,847,210	FNMA		3.000		09/01/31		3,013,294
	33,098	FNMA		4.000		09/01/31		36,200
	292	FNMA		6.500		09/01/31		327
	16,738	FNMA		6.000		11/01/31		19,783
	2,265	FNMA		6.500		11/01/31		2,606
	5,483,746	FNMA		2.500		12/01/31		5,706,142
	916,463	FNMA		3.500		01/01/32		980,270
	5,935	FNMA		6.000		01/01/32		7,042
	1,037	FNMA		6.000		01/01/32		1,163
	386,805	FNMA		3.500		02/01/32		413,793
	3,688	FNMA		6.000		02/01/32		4,331
	3,823,856	FNMA		3.000		03/01/32		4,039,324
	18,117	FNMA		6.500		04/01/32		21,344
	13,657,240	FNMA		3.000		06/01/32		14,427,328
	33,644	FNMA		6.500		07/01/32		38,426
	6,327	FNMA		6.500		08/01/32		7,219
	422,681	FNMA		3.000		09/01/32		444,415
	16,081	FNMA		7.500		09/01/32		18,465
	1,257,054	FNMA		3.000		10/01/32		1,314,064
	31,037	FNMA		5.500		10/01/32		36,015
	8,385	FNMA		6.000		11/01/32		9,892
	8,971,381	FNMA		3.000		12/01/32		9,478,100
	498	FNMA		5.500		12/01/32		556

124

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	12,713	FNMA		5.500	%	12/01/32	$	14,800
	12,208	FNMA		6.000		12/01/32		14,326
	74,597	FNMA		5.500		01/01/33		86,350
	167,675	FNMA		6.000		01/01/33		200,238
	67,254	FNMA		5.000		02/01/33		76,627
	3,889	FNMA		5.000		02/01/33		4,339
	922,571	FNMA		3.000		04/01/33		972,881
	1,070,990	FNMA		3.500		04/01/33		1,157,316
	4,050	FNMA		6.000		04/01/33		4,825
	6,911,893	FNMA		3.500		05/01/33		7,412,081
	528,045	FNMA		5.500		05/01/33		607,440
	30,140	FNMA		5.000		06/01/33		34,737
	62,526	FNMA		5.500		06/01/33		72,830
	10,426	FNMA		4.500		07/01/33		11,505
	35,653	FNMA		5.000		07/01/33		41,275
	50,556	FNMA		4.500		08/01/33		55,763
	3,797	FNMA		4.500		08/01/33		4,130
	10,539	FNMA		5.000		08/01/33		12,128
	23,696	FNMA		5.500		09/01/33		26,445
	86,009	FNMA		5.500		09/01/33		96,446
	7,182	FNMA		6.000		09/01/33		8,186
	83,395	FNMA		4.500		10/01/33		92,775
	12,580	FNMA		5.000		10/01/33		14,584
	7,075	FNMA		5.000		10/01/33		7,911
	139,072	FNMA		5.500		10/01/33		157,480
	296,985	FNMA		5.500		10/01/33		346,315
	4,425	FNMA		4.500		11/01/33		4,903
	16,665	FNMA		5.000		11/01/33		19,281
	1,131,615	FNMA		5.000		11/01/33		1,308,432
	129,290	FNMA		5.000		12/01/33		149,108
	150,979	FNMA		5.500		12/01/33		175,390
	1,601,832	FNMA		3.000		01/01/34		1,685,573
	50,627	FNMA		5.000		02/01/34		57,398
	219,384	FNMA		6.000		02/01/34		253,089
	12,680	FNMA		5.000		03/01/34		14,642
	302,462	FNMA		5.000		03/01/34		349,461
	5,368	FNMA		5.000		03/01/34		6,200
	6,932	FNMA		5.000		03/01/34		7,997
	14,896	FNMA		5.000		03/01/34		17,190
	4,450	FNMA		5.000		03/01/34		5,136
	41,410	FNMA		5.000		04/01/34		48,090
	46,045	FNMA		5.500		04/01/34		53,221
	20,643	FNMA		4.500		05/01/34		22,802
	11,157	FNMA		4.500		05/01/34		12,396
	10,431	FNMA		5.500		07/01/34		12,197
	16,355	FNMA		5.500		07/01/34		19,117
	16,316	FNMA		7.000		07/01/34		18,818
	122,962	FNMA		5.000		08/01/34		142,722
	13,555	FNMA		5.000		08/01/34		15,689
	72,880	FNMA		6.000		08/01/34		84,172
	12,676	FNMA		6.000		08/01/34		15,124
	7,782	FNMA		4.500		09/01/34		8,655
	255,671	FNMA		5.500		09/01/34		298,953

125

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	12,437,006		FNMA			2.500	%	11/01/34	$	12,937,943
	2,484		FNMA			5.500		11/01/34		2,905
	9,061		FNMA			6.000		11/01/34		10,185
	17,153,308		FNMA			2.500		12/01/34		17,845,759
	15,213,395		FNMA			3.000		12/01/34		16,063,445
	3,851		FNMA			5.000		12/01/34		4,460
	2,342		FNMA			5.500		12/01/34		2,740
	9,439		FNMA			6.000		12/01/34		10,843
	353,485		FNMA			4.500		01/01/35		392,598
	29,176		FNMA			5.500		01/01/35		33,474
	13,556,117		FNMA			3.500		02/01/35		14,465,267
	764,176		FNMA			5.500		02/01/35		897,733
	34,035		FNMA			5.500		02/01/35		39,823
	11,625,803		FNMA			2.500		03/01/35		12,094,062
	115,919		FNMA			5.500		04/01/35		129,485
	30,517		FNMA			6.000		04/01/35		35,322
	31,871		FNMA			6.000		04/01/35		38,084
	14,116,395		FNMA			2.500		05/01/35		14,686,840
	40,766		FNMA			6.000		05/01/35		48,416
	12,875		FNMA			5.000		06/01/35		14,952
	1,624	i	FNMA	LIBOR 12 M + 1.570%		2.284		07/01/35		1,642
	38,995		FNMA			5.000		07/01/35		45,125
	3,615,531		FNMA			3.000		08/01/35		3,800,909
	81,852		FNMA			4.500		08/01/35		90,995
	50,855		FNMA			5.000		08/01/35		59,129
	89,690		FNMA			5.000		08/01/35		104,249
	2,981		FNMA			4.500		09/01/35		3,320
	3,676		FNMA			4.500		09/01/35		4,086
	9,732		FNMA			5.500		09/01/35		11,387
	13,420,390		FNMA			2.500		10/01/35		13,969,405
	37,695		FNMA			5.000		10/01/35		42,031
	107,442		FNMA			5.500		10/01/35		125,137
	23,342,683		FNMA			1.500		11/01/35		23,469,616
	22,841,684		FNMA			2.000		11/01/35		23,461,711
	13,854,211		FNMA			2.500		11/01/35		14,417,341
	3,034		FNMA			5.000		11/01/35		3,179
	111,670		FNMA			5.500		11/01/35		130,491
	9,288,022		FNMA			2.000		12/01/35		9,540,141
	30,003,072		FNMA			1.500		01/01/36		30,157,310
	4,516,326		FNMA			3.500		01/01/36		4,879,570
	32,008	i	FNMA	LIBOR 12 M + 1.535%		1.910		02/01/36		32,347
	271,369		FNMA			5.000		02/01/36		315,680
	19,888,321		FNMA			1.500		03/01/36		19,990,612
	99,649,509		FNMA			2.000		03/01/36		102,354,450
	132,668		FNMA			6.000		03/01/36		158,409
	10,000,000	h	FNMA			1.000		04/01/36		10,051,221
	10,000,000	h	FNMA			1.500		04/01/36		10,051,429
	30,000,000	h	FNMA			2.000		04/01/36		30,814,337
	1,545,686		FNMA			3.500		05/01/36		1,670,239
	1,885		FNMA			5.000		05/01/36		2,159
	166,932		FNMA			6.000		06/01/36		199,483
	17,106	i	FNMA	LIBOR 12 M + 1.595%		2.345		07/01/36		17,250
	11,239		FNMA			6.000		07/01/36		13,180
	58,985		FNMA			6.500		07/01/36		67,059

126

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	11,321,707		FNMA			3.000	%	08/01/36	$	11,902,521
	79,761		FNMA			5.500		08/01/36		89,284
	117,308		FNMA			6.500		08/01/36		140,809
	1,958,479		FNMA			3.000		09/01/36		2,059,002
	8,975		FNMA			5.500		09/01/36		10,498
	3,547		FNMA			6.500		09/01/36		4,148
	11,625		FNMA			6.500		09/01/36		13,753
	16,607		FNMA			6.000		10/01/36		19,847
	4,250,362		FNMA			3.000		11/01/36		4,468,646
	8,174		FNMA			6.500		11/01/36		9,449
	48,208		FNMA			6.000		12/01/36		57,616
	6,716	i	FNMA	LIBOR 12 M + 1.754%		2.129		01/01/37		6,814
	21,616		FNMA			5.500		01/01/37		25,360
	991	i	FNMA	LIBOR 6 M + 1.460%		1.710		02/01/37		1,018
	146,956		FNMA			5.500		02/01/37		172,034
	7,722		FNMA			6.000		02/01/37		9,080
	12,347		FNMA			7.000		02/01/37		14,209
	2,544	i	FNMA	LIBOR 12 M + 1.809%		2.532		03/01/37		2,558
	1,200		FNMA			5.000		03/01/37		1,393
	49,350		FNMA			6.500		03/01/37		58,352
	44,445		FNMA			6.500		03/01/37		51,242
	37,400		FNMA			7.000		04/01/37		45,105
	54,192		FNMA			5.000		05/01/37		62,978
	1,442		FNMA			7.000		05/01/37		1,519
	9,848	i	FNMA	LIBOR 12 M + 1.782%		2.655		06/01/37		9,901
	12,667		FNMA			5.500		06/01/37		14,864
	14,394		FNMA			5.500		08/01/37		16,843
	6,674		FNMA			6.000		08/01/37		7,969
	11,785		FNMA			6.500		08/01/37		13,297
	14,624		FNMA			5.500		09/01/37		16,328
	21,370		FNMA			6.000		09/01/37		24,904
	52,921		FNMA			6.000		09/01/37		63,028
	65,569		FNMA			6.000		09/01/37		76,969
	24,102		FNMA			6.000		09/01/37		28,491
	96,957		FNMA			6.000		09/01/37		115,606
	12,722		FNMA			6.500		09/01/37		14,310
	4,159		FNMA			6.500		09/01/37		4,668
	11,938	i	FNMA	DGS1 + 2.275%		2.400		10/01/37		12,016
	8,904		FNMA			6.500		10/01/37		10,287
	88,487		FNMA			5.500		11/01/37		102,399
	183,252		FNMA			6.000		11/01/37		218,461
	2,748		FNMA			7.000		11/01/37		2,840
	4,039,200		FNMA			3.000		12/01/37		4,211,546
	4,343,036		FNMA			4.000		01/01/38		4,712,797
	501		FNMA			6.500		01/01/38		568
	55,508		FNMA			5.500		02/01/38		65,166
	26,115		FNMA			6.500		02/01/38		29,312
	13,573		FNMA			7.000		02/01/38		16,374
	12,365	i	FNMA	LIBOR 12 M + 1.770%		3.770		03/01/38		12,366
	5,083		FNMA			5.000		03/01/38		5,909
	2,394		FNMA			5.000		03/01/38		2,784
	9,976		FNMA			5.500		03/01/38		11,716
	3,871		FNMA			6.000		03/01/38		4,774

127

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	5,153		FNMA			6.500	%	03/01/38	$	6,043
	35,623		FNMA			6.500		03/01/38		40,484
	4,986		FNMA			6.500		03/01/38		5,596
	14,720		FNMA			5.000		04/01/38		16,291
	154,094		FNMA			5.500		04/01/38		181,067
	173,950		FNMA			6.000		04/01/38		206,313
	12,538		FNMA			4.500		05/01/38		13,810
	588,078		FNMA			5.000		05/01/38		683,765
	128,977		FNMA			5.000		05/01/38		147,145
	391,716		FNMA			6.000		06/01/38		464,590
	659,256		FNMA			6.500		06/01/38		769,756
	141,057		FNMA			6.000		07/01/38		168,016
	1,248	i	FNMA	LIBOR 12 M + 1.750%		2.375		08/01/38		1,252
	1,811	i	FNMA	LIBOR 12 M + 1.603%		2.475		08/01/38		1,903
	415,193		FNMA			6.000		09/01/38		492,856
	10,495	i	FNMA	LIBOR 12 M + 1.321%		1.821		10/01/38		10,506
	640		FNMA			6.000		10/01/38		722
	5,188		FNMA			5.500		11/01/38		6,030
	2,112		FNMA			5.000		12/01/38		2,457
	436,310		FNMA			5.500		12/01/38		510,269
	62,105		FNMA			4.500		01/01/39		70,011
	47,079		FNMA			5.000		01/01/39		54,357
	1,525,711		FNMA			5.000		01/01/39		1,771,443
	63,094		FNMA			5.500		01/01/39		73,897
	230,633		FNMA			5.500		01/01/39		271,052
	15,049		FNMA			6.000		01/01/39		17,759
	1,523		FNMA			6.000		01/01/39		1,712
	79,333		FNMA			4.500		02/01/39		89,119
	225,219		FNMA			4.500		02/01/39		252,622
	128,035		FNMA			4.500		02/01/39		144,345
	4,443		FNMA			5.500		02/01/39		5,191
	250,308		FNMA			4.000		04/01/39		276,983
	13,283		FNMA			5.500		04/01/39		15,441
	428,334		FNMA			4.500		05/01/39		480,444
	90,105		FNMA			4.500		05/01/39		101,538
	234,070		FNMA			4.500		06/01/39		263,711
	77,131		FNMA			4.500		06/01/39		85,862
	180,845		FNMA			5.500		06/01/39		212,387
	5,568	i	FNMA	LIBOR 12 M + 1.835%		2.799		07/01/39		5,879
	48,045		FNMA			4.500		07/01/39		53,492
	54,303		FNMA			4.500		07/01/39		60,869
	5,363		FNMA			5.000		07/01/39		6,150
	6,238	i	FNMA	LIBOR 12 M + 1.650%		2.275		08/01/39		6,333
	8,088	i	FNMA	LIBOR 12 M + 1.690%		2.400		08/01/39		8,498
	862,096		FNMA			4.000		08/01/39		949,600
	139,959		FNMA			4.000		08/01/39		154,886
	11,695		FNMA			4.500		08/01/39		13,131
	604,464		FNMA			4.500		08/01/39		681,559
	170,529		FNMA			4.500		08/01/39		191,172
	682,074		FNMA			5.000		08/01/39		781,821
	6,152		FNMA			5.000		08/01/39		7,073
	336,571		FNMA			4.000		09/01/39		372,496
	27,245		FNMA			5.000		09/01/39		31,703
	142,093		FNMA			5.500		09/01/39		165,411

128

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	83,975		FNMA			6.000	%	09/01/39	$	99,768
	293,765		FNMA			6.500		10/01/39		353,495
	15,512		FNMA			5.000		11/01/39		18,050
	359,056		FNMA			4.000		12/01/39		395,534
	43,970		FNMA			4.500		12/01/39		48,976
	82,577		FNMA			4.500		12/01/39		92,577
	1,255,476		FNMA			4.500		12/01/39		1,407,844
	10,965	i	FNMA	LIBOR 12 M + 1.815%		2.190		01/01/40		11,559
	25,635		FNMA			4.500		01/01/40		28,754
	30,735		FNMA			5.000		01/01/40		35,766
	190,120		FNMA			6.000		02/01/40		225,104
	11,622,763		FNMA			2.500		03/01/40		11,955,801
	243,175		FNMA			4.500		03/01/40		270,790
	130,852		FNMA			4.500		03/01/40		147,474
	12,517		FNMA			5.000		03/01/40		14,566
	14,796,183		FNMA			2.500		04/01/40		15,229,232
	16,513,225		FNMA			3.000		04/01/40		17,255,053
	12,945		FNMA			4.500		04/01/40		14,516
	470,499		FNMA			5.000		04/01/40		547,513
	317,658		FNMA			5.000		04/01/40		366,960
	45,029	i	FNMA	LIBOR 12 M + 1.847%		2.349		05/01/40		47,566
	50,001	i	FNMA	LIBOR 12 M + 1.782%		3.585		05/01/40		52,800
	18,494	i	FNMA	LIBOR 12 M + 1.864%		3.614		05/01/40		18,838
	15,565		FNMA			4.500		05/01/40		17,407
	11,465,040		FNMA			2.500		06/01/40		11,835,745
	29,892		FNMA			4.500		07/01/40		33,526
	29,682		FNMA			4.500		07/01/40		33,053
	39,551		FNMA			5.000		07/01/40		45,803
	9,634	i	FNMA	LIBOR 12 M + 1.805%		2.430		08/01/40		9,651
	247,950		FNMA			4.500		08/01/40		277,645
	348,319		FNMA			4.500		08/01/40		389,998
	261,621		FNMA			5.000		08/01/40		299,576
	597,542		FNMA			4.500		09/01/40		673,783
	250,305		FNMA			4.500		09/01/40		281,154
	539,490		FNMA			6.000		09/01/40		644,523
	81,164		FNMA			3.500		10/01/40		87,663
	371,373		FNMA			4.000		10/01/40		407,269
	865,436		FNMA			4.000		10/01/40		951,920
	634,715		FNMA			4.500		10/01/40		715,646
	731,713		FNMA			3.500		11/01/40		790,583
	800,409		FNMA			4.000		11/01/40		877,806
	792,796		FNMA			4.000		11/01/40		872,729
	478,928		FNMA			4.000		11/01/40		527,645
	86,575		FNMA			4.500		11/01/40		97,113
	19,125,962		FNMA			2.000		12/01/40		19,386,302
	26,147	i	FNMA	LIBOR 12 M + 1.823%		2.198		12/01/40		26,129
	255,818		FNMA			4.000		12/01/40		280,556
	2,096,168		FNMA			4.500		12/01/40		2,360,695
	25,427		FNMA			3.500		01/01/41		27,462
	5,949,642		FNMA			1.500		02/01/41		5,866,824
	14,884,849		FNMA			2.000		02/01/41		15,087,923
	29,889	i	FNMA	LIBOR 12 M + 1.807%		2.229		02/01/41		31,518
	120,672		FNMA			3.500		02/01/41		129,808

129

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	718,527		FNMA			4.000	%	02/01/41	$	789,923
	689,646		FNMA			4.000		03/01/41		759,767
	20,000,000		FNMA			2.000		04/01/41		20,272,860
	526,315		FNMA			4.500		04/01/41		592,579
	711,730		FNMA			4.500		05/01/41		792,584
	125,624		FNMA			4.500		05/01/41		141,616
	344,270		FNMA			4.500		06/01/41		386,780
	73,847	i	FNMA	LIBOR 12 M + 1.788%		2.817		07/01/41		77,964
	454,974		FNMA			4.500		07/01/41		512,937
	1,074,863		FNMA			4.000		09/01/41		1,182,298
	631,671		FNMA			4.500		09/01/41		708,435
	239,586		FNMA			5.500		09/01/41		280,481
	49,346	i	FNMA	LIBOR 12 M + 1.857%		2.359		10/01/41		51,374
	392,396		FNMA			3.500		11/01/41		425,351
	361,480		FNMA			3.500		11/01/41		389,074
	168,077	i	FNMA	LIBOR 12 M + 1.750%		2.238		12/01/41		177,139
	15,528,887		FNMA			3.500		12/01/41		16,785,625
	2,390,921		FNMA			3.500		12/01/41		2,573,417
	452,295		FNMA			4.000		12/01/41		497,512
	1,176,188		FNMA			3.500		03/01/42		1,271,581
	800,060		FNMA			4.000		03/01/42		880,024
	2,565,600		FNMA			3.500		04/01/42		2,789,458
	976,970		FNMA			3.500		04/01/42		1,063,309
	958,602		FNMA			4.500		04/01/42		1,079,349
	948,294		FNMA			5.000		04/01/42		1,103,180
	712,335		FNMA			4.000		05/01/42		783,887
	829,811		FNMA			5.000		05/01/42		954,327
	770,293		FNMA			3.000		06/01/42		815,739
	3,377,355		FNMA			3.500		06/01/42		3,651,311
	2,743,578		FNMA			4.000		06/01/42		3,023,153
	1,879,495		FNMA			4.000		06/01/42		2,067,796
	5,079,257		FNMA			3.500		07/01/42		5,491,222
	1,053,234		FNMA			4.500		07/01/42		1,173,319
	1,103,349		FNMA			3.500		08/01/42		1,196,225
	1,741,395		FNMA			3.000		09/01/42		1,846,110
	2,236,488		FNMA			3.500		09/01/42		2,417,902
	11,417,498		FNMA			4.500		09/01/42		12,848,110
	3,996,298		FNMA			3.000		10/01/42		4,248,952
	1,051,763		FNMA			3.500		10/01/42		1,137,082
	1,745,481		FNMA			2.500		01/01/43		1,809,008
	5,678,415		FNMA			3.000		01/01/43		6,036,599
	6,625,625		FNMA			3.000		02/01/43		7,015,996
	18,503,005		FNMA			3.000		04/01/43		19,655,604
	12,983,721		FNMA			3.000		04/01/43		13,749,014
	1,596,498		FNMA			3.000		04/01/43		1,688,944
	4,561,685		FNMA			3.000		04/01/43		4,825,607
	99,309	i	FNMA	LIBOR 12 M + 1.695%		2.591		06/01/43		103,051
	4,543,431		FNMA			3.000		06/01/43		4,811,244
	40,604	i	FNMA	LIBOR 12 M + 1.550%		2.453		07/01/43		41,833
	4,086,089		FNMA			3.000		07/01/43		4,344,370
	3,311,959		FNMA			3.500		07/01/43		3,579,799
	10,296,780		FNMA			3.500		07/01/43		11,125,281
	3,721,260		FNMA			3.000		08/01/43		3,956,420
	1,923,662		FNMA			4.000		08/01/43		2,129,701

130

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	3,108,907	FNMA		3.000	%	09/01/43	$	3,335,838
	3,561,132	FNMA		3.500		09/01/43		3,867,315
	2,944,204	FNMA		3.500		10/01/43		3,200,333
	315,605	FNMA		4.500		10/01/43		356,503
	842,113	FNMA		4.000		11/01/43		923,662
	2,042,363	FNMA		4.000		11/01/43		2,250,641
	2,037,776	FNMA		4.500		12/01/43		2,285,349
	629,371	FNMA		4.500		12/01/43		706,185
	2,356,036	FNMA		4.000		01/01/44		2,596,310
	33,805,587	FNMA		4.000		03/01/44		37,414,910
	1,533,151	FNMA		4.000		05/01/44		1,686,374
	1,457,610	FNMA		4.000		07/01/44		1,597,853
	1,616,885	FNMA		4.000		07/01/44		1,772,327
	1,074,947	FNMA		3.500		09/01/44		1,155,850
	1,470,178	FNMA		4.000		09/01/44		1,618,880
	3,652,241	FNMA		3.500		10/01/44		3,928,352
	9,388,061	FNMA		5.000		11/01/44		10,842,460
	1,504,185	FNMA		4.000		12/01/44		1,648,708
	10,511,080	FNMA		3.000		01/01/45		11,166,982
	3,119,771	FNMA		3.000		01/01/45		3,294,855
	15,792,862	FNMA		3.500		01/01/45		16,974,315
	5,623,896	FNMA		3.500		02/01/45		6,041,111
	3,862,206	FNMA		3.000		04/01/45		4,064,955
	5,706,281	FNMA		3.500		05/01/45		6,125,125
	5,712,041	FNMA		3.500		07/01/45		6,136,789
	7,474,283	FNMA		4.000		07/01/45		8,232,223
	17,586,173	FNMA		3.500		09/01/45		18,993,848
	8,578,485	FNMA		3.000		11/01/45		8,984,081
	4,085,436	FNMA		3.500		11/01/45		4,383,470
	11,462,363	FNMA		4.000		11/01/45		12,545,485
	3,585,209	FNMA		3.500		12/01/45		3,834,810
	11,007,786	FNMA		3.500		12/01/45		11,807,067
	5,250,932	FNMA		3.500		12/01/45		5,633,930
	14,659,824	FNMA		3.500		01/01/46		15,727,530
	2,960,103	FNMA		3.500		02/01/46		3,175,322
	9,601,300	FNMA		3.500		04/01/46		10,322,215
	4,798,186	FNMA		4.500		05/01/46		5,283,003
	3,812,022	FNMA		3.000		06/01/46		4,011,277
	6,406,979	FNMA		3.500		07/01/46		6,852,457
	10,304,589	FNMA		3.500		08/01/46		11,128,521
	6,155,354	FNMA		4.000		08/01/46		6,707,780
	6,133,124	FNMA		3.000		09/01/46		6,449,741
	6,990,903	FNMA		3.000		10/01/46		7,351,165
	38,047,153	FNMA		3.000		11/01/46		40,196,231
	3,636,262	FNMA		3.500		12/01/46		3,875,871
	43,986,818	FNMA		3.000		01/01/47		46,073,060
	5,377,622	FNMA		3.000		02/01/47		5,685,127
	4,583,697	FNMA		4.000		02/01/47		4,962,655
	7,573,696	FNMA		3.000		03/01/47		7,965,565
	5,394,271	FNMA		3.500		03/01/47		5,741,653
	1,388,120	FNMA		4.000		03/01/47		1,502,122
	937,060	FNMA		4.500		03/01/47		1,031,086
	6,179,920	FNMA		3.000		04/01/47		6,499,752

131

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	10,577,328		FNMA		3.000	%	04/01/47	$	11,135,784
	7,227,175		FNMA		3.500		04/01/47		7,715,663
	3,606,376		FNMA		3.500		05/01/47		3,836,596
	6,240,689		FNMA		3.500		07/01/47		6,739,926
	31,159,564		FNMA		4.000		07/01/47		33,663,307
	38,924,367		FNMA		3.500		11/01/47		41,302,207
	3,117,558		FNMA		4.500		11/01/47		3,417,824
	3,781,954		FNMA		3.500		01/01/48		4,011,780
	15,090,186		FNMA		4.000		01/01/48		16,325,795
	2,097,145		FNMA		3.000		02/01/48		2,190,276
	3,219,741		FNMA		3.500		02/01/48		3,404,747
	22,601,191		FNMA		3.500		04/01/48		23,960,903
	5,053,230		FNMA		4.000		04/01/48		5,434,688
	423,754		FNMA		4.500		04/01/48		464,644
	7,082,804		FNMA		3.500		06/01/48		7,503,565
	13,539,312		FNMA		4.000		07/01/48		14,532,029
	9,467,260		FNMA		4.500		07/01/48		10,313,648
	5,147,050		FNMA		4.000		08/01/48		5,529,582
	3,844,849		FNMA		4.000		10/01/48		4,123,204
	5,759,010		FNMA		4.500		10/01/48		6,267,514
	28,982,535		FNMA		3.000		11/01/48		30,399,681
	10,308,858		FNMA		4.000		11/01/48		11,051,988
	4,091,697		FNMA		4.500		11/01/48		4,465,076
	3,833,329		FNMA		4.000		12/01/48		4,113,032
	3,548,944		FNMA		4.500		01/01/49		3,857,774
	10,223,290		FNMA		4.500		02/01/49		11,130,732
	11,220,957		FNMA		4.000		04/01/49		12,036,209
	12,500,543		FNMA		5.000		04/01/49		13,828,148
	12,671,791		FNMA		3.500		07/01/49		13,380,592
	32,298,930		FNMA		3.500		08/01/49		34,632,415
	8,077,502		FNMA		4.000		08/01/49		8,665,210
	24,175,433		FNMA		3.000		09/01/49		25,175,919
	12,199,732		FNMA		3.000		12/01/49		12,716,118
	20,524,392		FNMA		3.000		12/01/49		21,718,397
	25,105,418		FNMA		3.000		12/01/49		26,146,292
	37,887,877		FNMA		3.000		02/01/50		39,992,241
	29,621,254		FNMA		3.500		02/01/50		31,279,810
	32,422,711		FNMA		3.000		03/01/50		33,774,815
	43,131,404		FNMA		3.000		05/01/50		44,935,264
	23,919,106		FNMA		3.000		06/01/50		24,918,635
	22,101,907		FNMA		4.000		06/01/50		23,707,415
	48,741,497	h	FNMA		2.500		09/01/50		50,063,606
	253,475,064		FNMA		2.500		10/01/50		260,350,550
	130,709,661		FNMA		2.000		11/01/50		130,553,821
	23,088,294		FNMA		2.500		11/01/50		23,714,561
	49,206,806		FNMA		1.500		12/01/50		47,578,584
	137,086,552		FNMA		2.000		12/01/50		137,203,668
	14,623,912		FNMA		2.500		12/01/50		15,020,585
	102,178,947		FNMA		2.000		01/01/51		102,057,911
	9,939,552		FNMA		1.500		02/01/51		9,610,153
	9,638,261		FNMA		2.000		02/01/51		9,626,770
	146,085,352		FNMA		2.500		02/01/51		150,047,902
	59,849,257		FNMA		1.500		03/01/51		57,865,840
	135,470,366		FNMA		2.000		03/01/51		135,308,850

132

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	20,600,000	h	FNMA		1.500	%	04/01/51	$	19,917,312
	160,000,000	h	FNMA		2.000		04/01/51		159,810,080
	40,000,000	h	FNMA		2.000		04/01/51		39,952,310
	39,000,000	h	FNMA		2.500		04/01/51		40,057,871
	3,250,711		FNMA		3.500		07/01/55		3,469,589
	923		Government National Mortgage Association (GNMA)		4.500		01/20/24		984
	9,129		GNMA		4.000		04/15/24		9,703
	2,045		GNMA		4.500		07/15/24		2,154
	29,129		GNMA		4.000		08/15/24		30,962
	9,188		GNMA		4.500		08/15/24		9,676
	25,414		GNMA		4.000		09/15/24		27,022
	5,292		GNMA		4.500		01/15/25		5,573
	47,272		GNMA		4.000		08/15/25		50,267
	23,219		GNMA		3.500		03/15/26		24,793
	25,768		GNMA		4.000		04/15/26		27,405
	26,296		GNMA		4.000		06/20/26		28,052
	41,791		GNMA		3.500		11/20/26		44,602
	212,349		GNMA		3.000		12/15/26		219,892
	706,636		GNMA		2.500		04/20/27		728,331
	481,835		GNMA		2.500		09/20/27		496,644
	314		GNMA		6.500		09/15/28		351
	185		GNMA		6.500		09/15/28		207
	1,021		GNMA		6.500		11/15/28		1,140
	191		GNMA		7.500		11/15/28		192
	747,403		GNMA		3.500		11/20/28		799,076
	6,215		GNMA		8.500		10/15/30		6,487
	2,339		GNMA		8.500		10/20/30		2,749
	257		GNMA		8.500		12/15/30		315
	343		GNMA		7.000		06/20/31		406
	285		GNMA		7.000		07/15/31		285
	3,871,245		GNMA		3.000		08/20/32		4,082,447
	119,120		GNMA		6.000		10/15/32		142,715
	15,654		GNMA		5.500		12/20/32		18,194
	32,464		GNMA		5.500		05/15/33		36,117
	4,577		GNMA		5.000		07/15/33		5,310
	21,216		GNMA		5.500		07/15/33		24,463
	4,536		GNMA		5.000		07/20/33		5,170
	9,838		GNMA		5.000		08/15/33		11,081
	18,969		GNMA		5.000		08/15/33		21,630
	82,681		GNMA		5.500		09/15/33		96,287
	60,899		GNMA		6.000		11/20/33		71,699
	26,288		GNMA		5.500		05/20/34		30,737
	40,501		GNMA		6.000		09/20/34		47,789
	2,999		GNMA		5.000		10/20/34		3,428
	76,268		GNMA		5.500		11/15/34		88,366
	39,136		GNMA		6.500		01/15/35		45,694
	21,128		GNMA		5.500		02/20/35		24,160
	381,054		GNMA		5.000		03/20/35		435,772
	115,154		GNMA		5.000		04/15/35		132,994
	123,777		GNMA		5.500		05/20/35		144,952
	4,384		GNMA		5.000		09/20/35		5,010
	2,993		GNMA		5.000		11/15/35		3,487

133

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	3,424	GNMA		5.000	%	11/15/35	$	3,861
	34,455	GNMA		5.500		02/20/36		40,365
	4,208	GNMA		5.500		03/15/36		4,961
	11,156	GNMA		5.500		05/20/36		12,793
	3,769	GNMA		6.500		06/15/36		4,452
	104,620	GNMA		5.500		06/20/36		122,644
	6,318	GNMA		5.000		09/15/36		7,360
	4,093	GNMA		6.000		09/15/36		4,818
	10,007	GNMA		6.000		10/20/36		11,781
	6,892	GNMA		5.000		12/15/36		8,023
	5,972	GNMA		6.000		01/20/37		7,028
	101,828	GNMA		5.500		02/15/37		119,569
	21,984	GNMA		6.000		02/20/37		26,023
	169,037	GNMA		6.000		04/15/37		202,586
	3,136	GNMA		6.500		04/15/37		3,502
	43,312	GNMA		6.000		04/20/37		48,325
	9,677	GNMA		6.000		06/15/37		11,062
	11,776	GNMA		6.000		08/20/37		13,859
	10,170	GNMA		6.500		08/20/37		12,232
	46,189	GNMA		6.500		11/20/37		54,682
	11,889	GNMA		6.000		12/15/37		14,103
	2,447	GNMA		5.000		02/20/38		2,797
	61,355	GNMA		5.000		04/15/38		69,933
	2,837	GNMA		5.500		05/20/38		3,218
	11,175	GNMA		5.500		06/15/38		13,109
	32,408	GNMA		6.000		06/20/38		38,153
	30,736	GNMA		5.500		07/15/38		35,754
	241,963	GNMA		5.000		07/20/38		271,997
	219,023	GNMA		5.500		07/20/38		247,962
	6,168	GNMA		5.500		08/15/38		7,223
	89,741	GNMA		6.000		08/15/38		107,612
	44,535	GNMA		6.000		08/15/38		50,378
	22,451	GNMA		6.000		08/20/38		26,571
	86,648	GNMA		6.000		09/20/38		99,381
	34,927	GNMA		5.000		10/15/38		39,339
	8,693	GNMA		5.500		10/15/38		10,180
	8,124	GNMA		6.500		10/20/38		8,907
	4,468	GNMA		6.500		10/20/38		5,301
	1,143	GNMA		5.500		11/15/38		1,339
	18,609	GNMA		6.500		11/20/38		22,379
	92,140	GNMA		6.000		12/15/38		106,579
	2,240	GNMA		6.500		12/15/38		2,640
	16,526	GNMA		5.000		01/15/39		19,229
	379,995	GNMA		4.500		01/20/39		425,319
	45,993	GNMA		6.500		01/20/39		53,644
	14,512	GNMA		5.000		02/15/39		16,894
	804	GNMA		6.000		02/15/39		904
	13,581	GNMA		4.500		03/15/39		15,332
	129,532	GNMA		4.500		03/15/39		146,234
	4,886	GNMA		4.500		03/20/39		5,479
	89,841	GNMA		5.500		03/20/39		105,294
	8,712	GNMA		4.500		04/15/39		9,836
	158,310	GNMA		5.500		04/15/39		186,626
	3,303	GNMA		5.000		04/20/39		3,746

134

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	15,155		GNMA			4.000	%	05/15/39	$	16,641
	230,080		GNMA			4.500		05/15/39		259,435
	124,549		GNMA			5.000		05/15/39		143,988
	17,090		GNMA			4.000		05/20/39		18,946
	44,537		GNMA			4.500		05/20/39		49,940
	996,191		GNMA			5.000		05/20/39		1,135,016
	6,985		GNMA			4.500		06/15/39		7,888
	640,304		GNMA			4.500		06/15/39		722,003
	893,795		GNMA			5.000		06/15/39		1,040,055
	697,741		GNMA			5.000		06/15/39		809,702
	15,181		GNMA			5.000		06/15/39		17,617
	6,675		GNMA			5.000		06/15/39		7,774
	8,181		GNMA			5.000		06/15/39		9,494
	9,765		GNMA			4.000		06/20/39		10,815
	6,334		GNMA			5.000		06/20/39		7,217
	780,644		GNMA			4.000		07/15/39		857,233
	8,622		GNMA			4.500		07/15/39		9,675
	21,752		GNMA			4.500		07/15/39		24,557
	879,322		GNMA			4.500		07/15/39		998,468
	8,628		GNMA			5.000		07/15/39		9,996
	97,222		GNMA			4.500		07/20/39		109,016
	87,517		GNMA			5.000		07/20/39		98,933
	9,833		GNMA			5.500		07/20/39		11,521
	42,180		GNMA			4.000		08/15/39		46,315
	93,694		GNMA			5.000		08/15/39		108,560
	6,256		GNMA			5.500		08/15/39		7,346
	55,797		GNMA			6.000		08/15/39		62,959
	29,392		GNMA			4.000		08/20/39		32,603
	22,457		GNMA			5.000		08/20/39		25,806
	5,389		GNMA			5.000		09/15/39		6,079
	30,939		GNMA			5.000		09/20/39		35,553
	6,802		GNMA			4.500		10/15/39		7,632
	3,733		GNMA			5.000		10/15/39		4,349
	9,563		GNMA			4.500		10/20/39		10,724
	20,370		GNMA			4.500		11/15/39		22,822
	13,724		GNMA			4.500		11/20/39		15,362
	16,983		GNMA			5.000		11/20/39		19,516
	21,305		GNMA			4.500		12/15/39		23,684
	458,044		GNMA			4.500		12/15/39		517,120
	14,210		GNMA			4.500		12/20/39		15,934
	528,488		GNMA			5.000		12/20/39		607,318
	471,929		GNMA			4.500		01/20/40		528,263
	7,915		GNMA			5.500		01/20/40		9,193
	308,516		GNMA			5.500		02/15/40		363,799
	39,379		GNMA			4.000		03/15/40		43,195
	7,895		GNMA			5.000		03/15/40		9,105
	1,475		GNMA			4.500		04/15/40		1,637
	82,577		GNMA			5.000		04/15/40		95,831
	18,551		GNMA			4.500		04/20/40		20,802
	2,982		GNMA			4.500		05/15/40		3,363
	74,709		GNMA			5.000		05/15/40		86,152
	130,999	i	GNMA	DGS1 + 1.500%		2.875		05/20/40		137,493
	3,966		GNMA			4.500		05/20/40		4,439

135

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	1,651,766		GNMA			4.500	%	06/15/40	$	1,859,974
	6,052		GNMA			4.500		06/15/40		6,797
	4,502		GNMA			4.500		06/15/40		5,069
	95,089		GNMA			5.000		06/20/40		109,274
	171,313		GNMA			4.500		07/15/40		192,404
	51,815		GNMA			4.500		07/15/40		58,499
	665,868		GNMA			4.500		07/20/40		746,667
	19,919		GNMA			5.000		07/20/40		22,891
	136,178		GNMA			4.000		08/15/40		150,780
	637,583		GNMA			4.000		08/15/40		701,803
	61,840		GNMA			4.500		08/15/40		70,251
	49,497		GNMA			4.500		08/20/40		55,406
	42,819		GNMA			4.500		09/20/40		48,024
	15,769		GNMA			5.500		09/20/40		18,470
	13,743		GNMA			6.500		09/20/40		16,303
	20,241		GNMA			4.000		10/15/40		22,411
	39,170		GNMA			6.000		10/20/40		46,081
	245,074		GNMA			4.000		11/15/40		269,984
	571,227		GNMA			4.000		11/20/40		632,592
	130,781		GNMA			3.500		12/15/40		139,844
	234,443		GNMA			5.500		12/20/40		274,649
	720,124		GNMA			4.000		01/15/41		796,912
	1,531,010		GNMA			4.000		01/20/41		1,691,854
	128,098		GNMA			4.000		02/15/41		141,891
	414,153		GNMA			4.500		02/20/41		470,494
	236,607		GNMA			4.500		03/15/41		266,834
	478,645		GNMA			4.500		04/20/41		536,733
	108,932		GNMA			5.000		04/20/41		125,191
	29,874	i	GNMA	DGS1 + 1.500%		2.875		06/20/41		31,273
	101,254		GNMA			4.000		07/15/41		110,979
	198,279		GNMA			4.000		07/20/41		220,043
	652,815		GNMA			4.500		07/20/41		732,045
	570,854		GNMA			5.000		07/20/41		656,015
	130,870		GNMA			4.500		08/15/41		147,579
	266,240		GNMA			5.000		08/20/41		306,017
	372,539		GNMA			4.000		09/15/41		411,517
	20,566	i	GNMA	DGS1 + 1.500%		2.250		09/20/41		21,473
	900,364		GNMA			4.000		09/20/41		997,321
	58,861		GNMA			4.000		10/15/41		65,173
	40,875	i	GNMA	DGS1 + 1.500%		2.125		10/20/41		42,665
	25,653	i	GNMA	DGS1 + 1.500%		2.125		10/20/41		26,788
	1,167,235		GNMA			4.000		10/20/41		1,295,357
	156,862		GNMA			5.500		10/20/41		183,762
	349,356		GNMA			3.500		11/15/41		375,371
	793,267		GNMA			4.000		11/15/41		878,343
	1,568,929		GNMA			4.500		11/20/41		1,759,375
	678,740		GNMA			5.000		11/20/41		780,210
	143,254		GNMA			6.000		11/20/41		168,620
	809,421		GNMA			3.500		01/20/42		878,012
	139,604	i	GNMA	DGS1 + 1.500%		3.000		02/20/42		145,570
	387,891		GNMA			3.500		03/20/42		420,711
	674,263		GNMA			4.500		03/20/42		756,233
	725,717		GNMA			3.500		04/15/42		781,775
	1,362,425		GNMA			3.500		05/20/42		1,487,762

136

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	3,717,969		GNMA			3.500	%	05/20/42	$	4,039,459
	850,865		GNMA			4.000		05/20/42		949,736
	1,523,018		GNMA			3.500		07/15/42		1,637,497
	146,436	i	GNMA	DGS1 + 1.500%		2.250		07/20/42		152,503
	869,878		GNMA			3.500		07/20/42		945,205
	1,127,999		GNMA			3.000		08/20/42		1,200,761
	1,435,467		GNMA			3.500		08/20/42		1,579,388
	3,653,226		GNMA			3.500		08/20/42		3,969,085
	709,135		GNMA			6.000		08/20/42		835,095
	1,472,889		GNMA			3.500		10/20/42		1,597,480
	1,645,157		GNMA			3.000		11/20/42		1,751,324
	1,501,578		GNMA			3.000		12/20/42		1,595,096
	1,941,810		GNMA			3.000		12/20/42		2,073,084
	1,113,405		GNMA			3.000		01/15/43		1,172,299
	3,323,938		GNMA			3.000		01/15/43		3,689,214
	1,457,051		GNMA			3.000		01/20/43		1,556,213
	2,486,496		GNMA			3.000		02/20/43		2,647,037
	1,753,341		GNMA			3.000		02/20/43		1,857,466
	413,439		GNMA			3.000		04/15/43		434,218
	435,469		GNMA			5.000		04/20/43		500,083
	995,771		GNMA			3.000		05/20/43		1,059,999
	1,528,755		GNMA			3.000		06/20/43		1,627,427
	3,408,854		GNMA			3.500		06/20/43		3,722,219
	3,336,844		GNMA			3.000		07/20/43		3,551,380
	1,578,870		GNMA			3.500		07/20/43		1,715,050
	6,979,366		GNMA			4.500		08/20/43		7,812,094
	2,210,514		GNMA			3.500		09/20/43		2,402,817
	761,503		GNMA			4.000		09/20/43		842,717
	9,381,626		GNMA			3.500		10/20/43		10,174,252
	4,598,380		GNMA			4.000		10/20/43		5,023,487
	403,681		GNMA			3.500		11/20/43		437,787
	816,812		GNMA			4.000		11/20/43		903,637
	770,648		GNMA			4.500		12/20/43		864,139
	810,070		GNMA			4.500		01/20/44		908,300
	997,306		GNMA			3.500		02/20/44		1,083,097
	1,391,913		GNMA			4.000		02/20/44		1,527,946
	1,409,890		GNMA			4.000		05/20/44		1,558,177
	1,456,615		GNMA			4.000		06/20/44		1,603,638
	3,914,584		GNMA			3.500		07/20/44		4,220,321
	11,954,251		GNMA			3.500		10/20/44		12,912,698
	1,134,651		GNMA			4.500		10/20/44		1,272,092
	2,811,735		GNMA			3.500		11/20/44		3,017,335
	3,490,160		GNMA			3.000		12/20/44		3,710,819
	6,130,842		GNMA			4.000		12/20/44		6,782,669
	8,863,118		GNMA			3.500		02/20/45		9,565,451
	4,726,565		GNMA			4.000		03/20/45		5,228,716
	3,695,907		GNMA			3.000		04/20/45		3,919,795
	7,984,842		GNMA			3.000		06/20/45		8,457,775
	17,754,857		GNMA			3.000		07/20/45		18,811,762
	6,313,779		GNMA			4.000		10/20/45		6,918,082
	10,512,188		GNMA			4.000		11/20/45		11,552,213
	4,485,882		GNMA			3.000		12/20/45		4,749,130
	4,182,315		GNMA			3.500		12/20/45		4,481,349

137

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	23,065,288		GNMA		3.000	%	03/20/46	$	24,417,027
	8,211,985		GNMA		3.000		04/20/46		8,673,136
	4,861,365		GNMA		4.000		04/20/46		5,333,584
	21,844,763		GNMA		3.000		05/20/46		23,136,093
	13,779,472		GNMA		3.500		05/20/46		14,803,207
	5,001,968		GNMA		3.000		06/20/46		5,300,169
	3,130,561		GNMA		3.500		06/20/46		3,343,029
	3,803,550		GNMA		3.000		07/20/46		4,016,233
	6,652,226		GNMA		3.500		08/20/46		7,121,686
	3,711,469		GNMA		3.000		09/20/46		3,913,611
	15,370,078		GNMA		3.500		09/20/46		16,436,760
	7,187,332		GNMA		3.000		10/20/46		7,570,064
	3,838,987		GNMA		3.000		12/20/46		4,053,447
	24,165,674		GNMA		3.000		01/20/47		25,409,182
	3,032,267		GNMA		4.000		01/20/47		3,289,674
	7,201,141		GNMA		4.000		04/20/47		7,787,137
	6,955,801		GNMA		3.500		05/20/47		7,421,054
	3,617,856		GNMA		3.500		06/20/47		3,847,027
	4,311,121		GNMA		3.000		07/20/47		4,555,119
	8,826,783		GNMA		4.500		07/20/47		9,640,845
	8,030,567		GNMA		3.000		08/20/47		8,474,978
	9,642,752		GNMA		3.500		08/20/47		10,268,015
	15,867,655		GNMA		3.000		09/20/47		16,776,651
	23,117,749		GNMA		4.000		09/20/47		24,942,601
	15,798,641		GNMA		3.500		11/20/47		16,847,652
	11,795,443		GNMA		3.500		12/20/47		12,553,324
	7,685,558		GNMA		3.500		01/20/48		8,185,365
	10,739,010		GNMA		4.000		05/20/48		11,545,012
	7,931,005		GNMA		4.000		06/20/48		8,533,834
	16,435,846		GNMA		3.500		07/20/48		17,504,490
	8,156,035		GNMA		4.000		08/20/48		8,770,679
	6,365,926		GNMA		5.000		08/20/48		6,965,748
	5,557,787		GNMA		4.500		09/20/48		6,049,905
	5,256,509		GNMA		5.000		10/20/48		5,758,402
	3,995,020		GNMA		4.500		11/20/48		4,329,525
	8,706,302		GNMA		3.500		04/20/49		9,190,736
	31,740,559		GNMA		4.500		04/20/49		34,346,748
	9,908,078		GNMA		4.000		05/20/49		10,601,832
	5,647,825		GNMA		3.500		06/20/49		5,961,608
	13,466,237		GNMA		3.500		09/20/49		14,211,642
	9,987,891		GNMA		3.500		11/20/49		10,557,939
	58,472,099	h	GNMA		2.500		12/20/49		60,354,331
	36,197,252		GNMA		3.000		02/20/50		37,720,344
	22,187,448		GNMA		3.500		02/20/50		23,415,011
	27,246,043		GNMA		3.500		04/20/50		28,773,390
	22,454,474		GNMA		3.000		05/20/50		23,403,244
	95,583,995		GNMA		3.000		08/20/50		99,633,101
	22,554,271		GNMA		3.000		09/20/50		23,545,525
	28,066,783		GNMA		2.500		10/20/50		28,979,315
	59,214,183		GNMA		2.000		11/20/50		59,838,691
	83,387,625		GNMA		2.500		12/20/50		86,113,265
	56,662,650		GNMA		2.000		01/20/51		57,239,007
	9,742,281		GNMA		2.500		01/20/51		10,061,260
	39,896,672		GNMA		2.000		02/20/51		40,313,479
			TOTAL MORTGAGE BACKED						5,339,117,519

138

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

MUNICIPAL BONDS - 0.8%
$	200,000	Alabama Economic Settlement Authority		4.263	%	09/15/32	$	224,809
	300,000	American Municipal Power		7.834		02/15/41		466,411
	495,000	American Municipal Power		6.270		02/15/50		673,491
	1,165,000	American Municipal Power		8.084		02/15/50		2,003,444
	750,000	American University		3.672		04/01/49		818,414
	750,000	Bay Area Toll Authority		2.574		04/01/31		774,876
	1,000,000	Bay Area Toll Authority		6.918		04/01/40		1,440,002
	2,000,000	Bay Area Toll Authority		6.263		04/01/49		3,090,053
	200,000	California Institute of Technology		4.321		08/01/45		244,803
	750,000	California Institute of Technology		3.650		09/01/19		759,497
	200,000	California State University		3.899		11/01/47		225,451
	1,000,000	California State University		2.897		11/01/51		943,854
	750,000	California State University		2.975		11/01/51		735,156
	720,000	Central Puget Sound Regional Transit Authority		5.491		11/01/39		961,732
	460,000	Chicago Metropolitan Water Reclamation District-Greater Chicago		5.720		12/01/38		611,900
	2,250,000	Chicago O’Hare International Airport		6.395		01/01/40		3,235,248
	200,000	Chicago O’Hare International Airport		4.472		01/01/49		243,857
	200,000	Chicago O’Hare International Airport		4.572		01/01/54		247,611
	680,000	City of Atlanta GA Water & Wastewater Revenue		2.257		11/01/35		678,532
	690,000	City of Houston TX		3.961		03/01/47		781,110
	1,000,000	City of Riverside CA		3.857		06/01/45		1,028,151
	310,000	City of San Antonio TX Electric & Gas Systems Revenue		2.905		02/01/48		304,637
	310,000	City of San Francisco CA Public Utilities Commission Water Revenue		3.303		11/01/39		327,743
	880,000	City of San Francisco CA Public Utilities Commission Water Revenue		2.825		11/01/41		886,938
	875,000	City of Tucson AZ		2.856		07/01/47		829,816
	750,000	City Public Service Board of San Antonio TX		5.808		02/01/41		1,046,266
	150,000	Colorado Bridge Enterprise		6.078		12/01/40		204,682
	200,000	Commonwealth Financing Authority		4.014		06/01/33		226,557
	100,000	Commonwealth Financing Authority		3.864		06/01/38		111,676
	100,000	Commonwealth Financing Authority		4.144		06/01/38		113,719
	645,000	Commonwealth Financing Authority		3.807		06/01/41		684,658
	100,000	Commonwealth of Massachusetts		4.200		12/01/21		102,571
	500,000	Commonwealth of Massachusetts		5.731		06/01/40		662,964
	1,000,000	Commonwealth of Massachusetts		2.514		07/01/41		990,414
	100,000	Commonwealth of Massachusetts		3.277		06/01/46		107,000
	750,000	Commonwealth of Massachusetts		2.900		09/01/49		738,044
	130,000	County of Broward FL Airport System Revenue		3.477		10/01/43		133,710
	200,000	County of Clark NV		6.820		07/01/45		299,523
	135,000	County of Miami-Dade FL Aviation Revenue		4.280		10/01/41		145,307
	200,000	County of Miami-Dade FL Water & Sewer System Revenue		3.490		10/01/42		205,288
	1,000,000	County of Riverside CA		3.818		02/15/38		1,061,437
	750,000	Dallas Area Rapid Transit		5.022		12/01/48		1,010,018
	250,000	Dallas/Fort Worth International Airport		2.994		11/01/38		253,258
	235,000	Dallas/Fort Worth International Airport		3.089		11/01/40		232,361
	100,000	Dallas/Fort Worth International Airport		3.144		11/01/45		99,769
	210,000	Dallas/Fort Worth International Airport		2.919		11/01/50		199,554

139

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	350,000		Denver City & County School District No. 1		4.242	%	12/15/37	$	403,462
	200,000		District of Columbia		5.591		12/01/34		255,724
	470,000		District of Columbia Water & Sewer Authority		3.207		10/01/48		473,254
	445,000		District of Columbia Water & Sewer Authority		4.814		10/01/14		577,390
	500,000		Duke University		2.682		10/01/44		487,509
	115,000		Duke University		3.299		10/01/46		121,042
	500,000		Duke University		2.757		10/01/50		491,451
	500,000		Duke University		2.832		10/01/55		484,245
	10,000		Energy Northwest		2.814		07/01/24		10,341
	1,200,000		Florida State Board of Administration Finance Corp		2.638		07/01/21		1,206,734
	360,000		Foothill-Eastern Transportation Corridor Agency		4.094		01/15/49		374,529
	300,000		Foothill-Eastern Transportation Corridor Agency		3.924		01/15/53		312,149
	300,000		George Washington University		4.300		09/15/44		352,890
	200,000		George Washington University		4.868		09/15/45		258,909
	375,000		George Washington University		4.126		09/15/48		437,588
	100,000		Georgetown University		4.315		04/01/49		118,809
	500,000		Georgetown University		2.943		04/01/50		462,035
	300,000		Georgetown University		5.215		10/01/18		383,311
	1,500,000	h	Golden State Tobacco Securitization Corp		3.115		06/01/38		1,505,242
	970,000		Grand Parkway Transportation Corp		3.236		10/01/52		975,252
	175,000		Great Lakes Water Authority Sewage Disposal System Revenue		3.056		07/01/39		178,163
	330,000		Great Lakes Water Authority Water Supply System Revenue		3.473		07/01/41		349,855
	200,000		Health & Educational Facilities Authority of the State of Missouri		3.651		01/15/46		217,849
	200,000		Health & Educational Facilities Authority of the State of Missouri		3.086		09/15/51		204,776
	200,000		Health & Educational Facilities Authority of the State of Missouri		3.652		08/15/57		226,788
	500,000		Illinois State Toll Highway Authority		6.184		01/01/34		673,629
	770,000		JobsOhio Beverage System		2.833		01/01/38		781,408
	1,000,000		Los Angeles Community College District		1.606		08/01/28		992,548
	1,000,000		Los Angeles Community College District		1.806		08/01/30		976,204
	770,000		Los Angeles Community College District		2.106		08/01/32		756,658
	240,000		Los Angeles Community College District		6.750		08/01/49		393,607
	350,000		Los Angeles Department of Water & Power Power System Revenue		5.716		07/01/39		481,174
	1,500,000		Los Angeles Department of Water & Power Power System Revenue		6.574		07/01/45		2,334,974
	1,630,000		Los Angeles Unified School District		5.750		07/01/34		2,155,466
	1,000,000		Maryland Health & Higher Educational Facilities Authority		3.052		07/01/40		974,668
	1,000,000		Maryland Health & Higher Educational Facilities Authority		3.197		07/01/50		964,670
	1,000,000		Massachusetts School Building Authority		1.753		08/15/30		986,559
	100,000		Massachusetts School Building Authority		5.715		08/15/39		135,660
	500,000		Massachusetts School Building Authority		3.395		10/15/40		524,770
	100,000		Metropolitan Government of Nashville & Davidson County Convention Center Authority		6.731		07/01/43		142,451
	200,000		Metropolitan Government of Nashville & Davidson County Health & Educational Facilities		4.053		07/01/26		221,412
	940,000		Metropolitan Transportation Authority		6.648		11/15/39		1,272,759
	1,150,000		Metropolitan Transportation Authority		7.336		11/15/39		1,801,670

140

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	335,000	Metropolitan Transportation Authority		5.175	%	11/15/49	$	414,962
	350,000	Michigan Finance Authority		3.384		12/01/40		369,513
	570,000	Michigan State Building Authority		2.705		10/15/40		554,285
	235,000	Michigan State University		4.496		08/15/48		261,311
	500,000	Missouri Highway & Transportation Commission		5.445		05/01/33		628,855
	247,000	Municipal Electric Authority of Georgia		6.637		04/01/57		353,334
	491,000	Municipal Electric Authority of Georgia		6.655		04/01/57		707,719
	947,000	New Jersey Economic Development Authority		7.425		02/15/29		1,211,367
	1,335,000	New Jersey State Turnpike Authority		7.414		01/01/40		2,097,476
	1,000,000	New Jersey State Turnpike Authority		7.102		01/01/41		1,530,982
	800,000	New Jersey Transportation Trust Fund Authority		5.754		12/15/28		952,778
	500,000	New Jersey Transportation Trust Fund Authority		4.081		06/15/39		525,584
	195,000	New Jersey Transportation Trust Fund Authority		4.131		06/15/42		203,736
	2,385,000	New York City Municipal Water Finance Authority		5.440		06/15/43		3,272,343
	1,000,000	New York City Transitional Finance Authority Future Tax Secured Revenue		5.767		08/01/36		1,255,818
	130,000	New York State Dormitory Authority		5.628		03/15/39		162,777
	545,000	New York State Dormitory Authority		5.600		03/15/40		717,595
	500,000	New York State Dormitory Authority		3.142		07/01/43		482,242
	200,000	New York State Dormitory Authority		4.946		08/01/48		223,273
	500,000	New York State Thruway Authority		2.900		01/01/35		517,982
	110,000	New York State Thruway Authority		3.500		01/01/42		112,874
	1,000,000	New York State Urban Development Corp		3.900		03/15/33		1,098,642
	1,000,000	North Texas Tollway Authority		6.718		01/01/49		1,585,341
	675,000	Ohio State Water Development Authority		4.879		12/01/34		795,327
	605,000	Ohio Turnpike & Infrastructure Commission		3.216		02/15/48		606,105
	750,000	Oregon School Boards Association		4.759		06/30/28		845,138
	250,000	Oregon School Boards Association		5.680		06/30/28		300,289
	1,000,000	Oregon State University		3.424		03/01/60		1,003,622
	500,000	Pennsylvania State University		2.790		09/01/43		499,207
	205,000	Pennsylvania State University		2.840		09/01/50		197,350
	300,000	Permanent University Fund-Texas A&M University System		3.660		07/01/47		326,320
	200,000	Permanent University Fund-University of Texas System		3.376		07/01/47		219,882
	560,000	Port Authority of New York & New Jersey		1.086		07/01/23		568,340
	1,215,000	Port Authority of New York & New Jersey		6.040		12/01/29		1,583,067
	500,000	Port Authority of New York & New Jersey		5.647		11/01/40		673,745
	300,000	Port Authority of New York & New Jersey		4.823		06/01/45		337,628
	1,000,000	Port Authority of New York & New Jersey		5.310		08/01/46		1,130,497
	200,000	Port Authority of New York & New Jersey		4.031		09/01/48		228,087
	400,000	Port Authority of New York & New Jersey		4.229		10/15/57		473,000
	1,600,000	Port Authority of New York & New Jersey		3.175		07/15/60		1,515,078
	2,200,000	Port Authority of New York & New Jersey		4.810		10/15/65		2,834,325
	250,000	Port Authority of New York & New Jersey		3.287		08/01/69		243,636
	1,000,000	Port of Morrow OR		2.543		09/01/40		956,429
	220,000	Princeton University		5.700		03/01/39		310,650
	750,000	Regents of the University of California Medical Center Pooled Revenue		3.006		05/15/50		720,377
	750,000	Regents of the University of California Medical Center Pooled Revenue		3.256		05/15/60		748,287
	750,000	Regents of the University of California Medical Center Pooled Revenue		3.706		05/15/20		719,583

141

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	500,000	Rutgers The State University of New Jersey		3.270	%	05/01/43	$	518,894
	500,000	Rutgers The State University of New Jersey		3.915		05/01/19		515,226
	200,000	Sales Tax Securitization Corp		4.637		01/01/40		239,678
	200,000	Sales Tax Securitization Corp		3.587		01/01/43		211,256
	1,000,000	Sales Tax Securitization Corp		3.820		01/01/48		1,058,301
	200,000	Sales Tax Securitization Corp		4.787		01/01/48		244,241
	100,000	Salt River Project Agricultural Improvement & Power District		4.839		01/01/41		127,428
	435,000	San Diego County Regional Transportation Commission		3.248		04/01/48		446,131
	500,000	San Diego County Water Authority		6.138		05/01/49		724,336
	100,000	San Jose Redevelopment Agency		3.375		08/01/34		106,792
	800,000	Santa Clara Valley Transportation Authority		5.876		04/01/32		988,170
	270,000	South Carolina Public Service Authority		2.388		12/01/23		283,239
	750,000	State Board of Administration Finance Corp		1.258		07/01/25		756,957
	750,000	State Board of Administration Finance Corp		1.705		07/01/27		752,756
	400,000	State Board of Administration Finance Corp		2.154		07/01/30		399,674
	300,000	State of California		2.800		04/01/21		300,000
	645,000	State of California		5.700		11/01/21		665,512
	200,000	State of California		3.375		04/01/25		220,192
	200,000	State of California		3.500		04/01/28		223,129
	300,000	State of California		4.500		04/01/33		347,721
	250,000	State of California		7.500		04/01/34		388,085
	225,000	State of California		4.600		04/01/38		259,860
	1,285,000	State of California		7.550		04/01/39		2,075,852
	3,400,000	State of California		7.300		10/01/39		5,183,578
	2,740,000	State of California		7.625		03/01/40		4,394,055
	1,500,000	State of California		7.600		11/01/40		2,490,704
	200,000	State of California Department of Water Resources Power Supply Revenue		2.000		05/01/22		203,916
	620,000	State of Connecticut		5.850		03/15/32		823,088
	5,950,000	State of Illinois		5.100		06/01/33		6,698,885
	1,295,000	State of Illinois		6.725		04/01/35		1,562,879
	500,000	State of Kansas Department of Transportation		4.596		09/01/35		601,190
	160,836	State of Oregon		5.762		06/01/23		171,780
	85,000	State of Oregon		5.892		06/01/27		103,743
	100,000	State of Oregon Department of Transportation		5.834		11/15/34		134,947
	600,000	State of Texas		4.631		04/01/33		726,629
	50,000	State of Texas		5.517		04/01/39		69,845
	1,000,000	State of Texas		4.681		04/01/40		1,287,639
	500,000	State of Utah		3.539		07/01/25		537,640
	200,000	State of Washington		5.090		08/01/33		248,037
	200,000	State of Wisconsin		3.154		05/01/27		219,567
	200,000	State of Wisconsin		3.954		05/01/36		221,570
	604,000	State Public School Building Authority		5.000		09/15/27		714,356
	100,000	Sumter Landing Community Development District		4.172		10/01/47		107,735
	430,000	Texas Private Activity Bond Surface Transportation Corp		3.922		12/31/49		453,354
	1,000,000	Texas Transportation Commission		2.562		04/01/42		976,709
	1,000,000	Texas Transportation Commission		2.472		10/01/44		944,947
	575,000	Texas Transportation Commission State Highway Fund		5.028		04/01/26		648,916
	1,190,000	Texas Transportation Commission State Highway Fund		5.178		04/01/30		1,451,203

142

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	560,000	Texas Transportation Commission State Highway Fund		4.000	%	10/01/33	$	667,689
	100,000	The Ohio State University		4.910		06/01/40		129,435
	500,000	The Ohio State University		3.798		12/01/46		568,468
	200,000	The Ohio State University		4.048		12/01/56		239,450
	1,000,000	Trustees of the University of Pennsylvania		2.396		10/01/50		897,580
	100,000	Trustees of the University of Pennsylvania		4.674		09/01/12		126,902
	500,000	Trustees of the University of Pennsylvania		3.610		02/15/19		493,783
	1,000,000	University of California		0.883		05/15/25		1,000,296
	200,000	University of California		3.063		07/01/25		217,539
	1,000,000	University of California		1.316		05/15/27		990,814
	500,000	University of California		3.349		07/01/29		551,972
	1,000,000	University of California		1.614		05/15/30		954,042
	200,000	University of California		5.770		05/15/43		270,427
	200,000	University of California		3.931		05/15/45		218,896
	200,000	University of California		4.131		05/15/45		226,589
	1,500,000	University of California		5.946		05/15/45		2,037,945
	1,500,000	University of California		3.071		05/15/51		1,469,498
	860,000	University of California		4.858		05/15/12		1,087,222
	200,000	University of California		4.767		05/15/15		248,396
	500,000	University of Chicago		2.761		04/01/45		481,067
	300,000	University of Chicago		4.003		10/01/53		346,710
	750,000	University of Michigan		2.437		04/01/40		721,849
	500,000	University of Michigan		2.562		04/01/50		474,021
	500,000	University of Nebraska Facilities Corp		3.037		10/01/49		501,874
	200,000	University of Notre Dame du Lac		3.438		02/15/45		218,374
	200,000	University of Notre Dame du Lac		3.394		02/15/48		217,970
	300,000	University of Southern California		3.028		10/01/39		318,430
	200,000	University of Southern California		3.841		10/01/47		231,021
	500,000	University of Southern California		2.805		10/01/50		481,708
	200,000	University of Southern California		5.250		10/01/11		280,534
	200,000	University of Texas System		3.852		08/15/46		235,818
	700,000	University of Texas System		4.794		08/15/46		891,438
	750,000	University of Texas System		2.439		08/15/49		687,580
	1,000,000	University of Virginia		2.256		09/01/50		875,669
	500,000	University of Virginia		3.227		09/01/19		433,619
	150,000	Virginia Commonwealth Transportation Board		5.350		05/15/35		181,090
	750,000	Westchester County Local Development Corp		3.846		11/01/50		768,097
	200,000	William Marsh Rice University		3.574		05/15/45		221,881
	200,000	William Marsh Rice University		3.774		05/15/55		234,044
		TOTAL MUNICIPAL BONDS						159,712,733

U.S. TREASURY SECURITIES - 36.6%
	21,250,000	United States Treasury Bond		4.500		02/15/36		28,111,426
	22,400,000	United States Treasury Bond		5.000		05/15/37		31,451,875
	179,483,000	United States Treasury Bond		3.500		02/15/39		215,218,345
	2,000,000	United States Treasury Bond		4.500		08/15/39		2,708,437
	44,850,000	United States Treasury Bond		4.375		11/15/39		59,944,828
	17,585,000	United States Treasury Bond		3.875		08/15/40		22,172,212
	11,185,000	United States Treasury Bond		4.250		11/15/40		14,798,279
	26,350,000	United States Treasury Bond		4.375		05/15/41		35,492,215
	10,000,000	United States Treasury Bond		3.750		08/15/41		12,436,328

143

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	48,300,000	United States Treasury Bond		3.125	%	11/15/41	$	55,007,285
	18,550,000	United States Treasury Bond		3.125		02/15/42		21,142,652
	22,000,000	United States Treasury Bond		3.000		05/15/42		24,568,672
	20,000,000	United States Treasury Bond		2.750		08/15/42		21,453,125
	10,250,000	United States Treasury Bond		2.875		05/15/43		11,212,939
	16,000,000	United States Treasury Bond		2.500		02/15/45		16,333,750
	22,000,000	United States Treasury Bond		3.000		05/15/45		24,523,125
	16,000,000	United States Treasury Bond		2.875		08/15/45		17,470,000
	27,000,000	United States Treasury Bond		2.500		05/15/46		27,514,687
	13,300,000	United States Treasury Bond		2.875		11/15/46		14,531,289
	28,000,000	United States Treasury Bond		3.000		02/15/47		31,338,125
	30,000,000	United States Treasury Bond		2.750		08/15/47		32,064,844
	45,000,000	United States Treasury Bond		2.750		11/15/47		48,113,086
	38,500,000	United States Treasury Bond		3.000		02/15/48		43,157,598
	48,500,000	United States Treasury Bond		3.125		05/15/48		55,619,649
	35,500,000	United States Treasury Bond		3.000		08/15/48		39,837,656
	35,000,000	United States Treasury Bond		3.375		11/15/48		42,034,180
	82,500,000	United States Treasury Bond		3.000		02/15/49		92,683,594
	10,500,000	United States Treasury Bond		2.875		05/15/49		11,530,312
	7,500,000	United States Treasury Bond		2.250		08/15/49		7,252,441
	8,615,000	United States Treasury Bond		2.375		11/15/49		8,558,801
	379,100	United States Treasury Note		8.000		11/15/21		397,788
	6,000,000	United States Treasury Note		2.500		01/15/22		6,115,313
	15,000,000	United States Treasury Note		1.750		02/28/22		15,227,344
	60,000,000	United States Treasury Note		2.375		03/15/22		61,317,187
	51,000,000	United States Treasury Note		1.875		03/31/22		51,912,422
	35,000,000	United States Treasury Note		2.250		04/15/22		35,787,500
	72,000,000	United States Treasury Note		1.875		04/30/22		73,380,938
	25,000,000	United States Treasury Note		2.125		05/15/22		25,566,406
	40,000,000	United States Treasury Note		0.125		05/31/22		40,010,938
	20,000,000	United States Treasury Note		0.125		06/30/22		20,004,688
	30,000,000	United States Treasury Note		1.750		06/30/22		30,611,719
	38,000,000	United States Treasury Note		1.875		07/31/22		38,889,141
	25,000,000	United States Treasury Note		1.625		08/31/22		25,529,297
	35,000,000	United States Treasury Note		1.875		09/30/22		35,911,914
	5,000,000	United States Treasury Note		1.375		10/15/22		5,094,727
	65,000,000	United States Treasury Note		2.000		10/31/22		66,906,836
	31,750,000	United States Treasury Note		1.625		11/15/22		32,510,264
	20,000,000	United States Treasury Note		0.125		11/30/22		19,996,094
	68,000,000	United States Treasury Note		2.000		11/30/22		70,095,781
	15,000,000	United States Treasury Note		1.625		12/15/22		15,378,516
	60,000,000	United States Treasury Note		2.625		02/28/23		62,814,844
	80,000,000	United States Treasury Note		2.500		03/31/23		83,728,125
	15,000,000	United States Treasury Note		0.250		04/15/23		15,021,680
	30,000,000	United States Treasury Note		2.750		04/30/23		31,593,750
	80,000,000	United States Treasury Note		2.750		05/31/23		84,412,500
	91,500,000	United States Treasury Note		2.625		06/30/23		96,482,460
	80,000,000	United States Treasury Note		2.750		07/31/23		84,712,500
	116,000,000	United States Treasury Note		2.750		08/31/23		123,032,500
	35,000,000	United States Treasury Note		2.875		09/30/23		37,292,773
	13,000,000	United States Treasury Note		2.750		11/15/23		13,843,984
	10,000,000	United States Treasury Note		2.125		11/30/23		10,492,969
	65,000,000	United States Treasury Note		2.875		11/30/23		69,478,906
	10,000,000	United States Treasury Note		2.250		12/31/23		10,533,594

144

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	55,000,000		United States Treasury Note		2.625	%	12/31/23	$	58,504,102
	129,300,000		United States Treasury Note		2.500		01/31/24		137,249,930
	70,000,000		United States Treasury Note		2.375		02/29/24		74,137,109
	325,000,000		United States Treasury Note		2.125		03/31/24		342,113,281
	174,000,000		United States Treasury Note		2.250		04/30/24		183,957,421
	111,500,000		United States Treasury Note		2.000		05/31/24		117,088,067
	152,000,000		United States Treasury Note		1.750		06/30/24		158,483,750
	212,000,000		United States Treasury Note		1.750		07/31/24		221,134,219
	22,000,000		United States Treasury Note		1.250		08/31/24		22,571,484
	81,000,000		United States Treasury Note		1.500		09/30/24		83,790,703
	90,500,000		United States Treasury Note		1.500		10/31/24		93,596,797
	40,005,000		United States Treasury Note		2.250		11/15/24		42,453,744
	61,900,000		United States Treasury Note		1.500		11/30/24		64,003,633
	75,000,000		United States Treasury Note		1.750		12/31/24		78,240,234
	40,000,000		United States Treasury Note		2.250		12/31/24		42,498,438
	13,000,000		United States Treasury Note		1.375		01/31/25		13,375,781
	40,000,000		United States Treasury Note		1.125		02/28/25		40,753,125
	73,000,000		United States Treasury Note		0.500		03/31/25		72,535,195
	8,000,000		United States Treasury Note		2.625		03/31/25		8,624,688
	50,000,000		United States Treasury Note		0.375		04/30/25		49,373,047
	134,000,000		United States Treasury Note		0.250		06/30/25		131,288,593
	110,000,000		United States Treasury Note		0.250		07/31/25		107,602,343
	54,000,000		United States Treasury Note		0.250		08/31/25		52,742,813
	20,000,000		United States Treasury Note		2.750		08/31/25		21,723,438
	50,000,000		United States Treasury Note		0.250		09/30/25		48,767,578
	30,000,000		United States Treasury Note		3.000		09/30/25		32,935,547
	97,000,000		United States Treasury Note		0.250		10/31/25		94,449,961
	30,000,000		United States Treasury Note		2.250		11/15/25		31,946,484
	275,000,000		United States Treasury Note		0.375		11/30/25		268,995,117
	50,000,000		United States Treasury Note		0.375		12/31/25		48,830,078
	126,000,000		United States Treasury Note		0.375		01/31/26		122,879,532
	157,000,000		United States Treasury Note		0.500		02/28/26		153,933,594
	110,000,000		United States Treasury Note		0.750		03/31/26		109,046,093
	50,000,000		United States Treasury Note		2.250		03/31/26		53,230,469
	30,000,000		United States Treasury Note		1.625		05/15/26		30,983,203
	71,000,000		United States Treasury Note		1.625		09/30/26		73,135,547
	10,000,000		United States Treasury Note		1.625		10/31/26		10,290,234
	89,500,000		United States Treasury Note		1.750		12/31/26		92,625,508
	5,000,000		United States Treasury Note		0.500		06/30/27		4,771,680
	46,000,000		United States Treasury Note		2.250		08/15/27		48,754,609
	75,000,000		United States Treasury Note		0.625		11/30/27		71,519,531
	48,800,000		United States Treasury Note		2.750		02/15/28		53,228,219
	66,000,000		United States Treasury Note		2.875		05/15/28		72,551,015
	85,000,000		United States Treasury Note		3.125		11/15/28		95,057,226
	50,000,000		United States Treasury Note		2.625		02/15/29		54,082,031
	92,000,000		United States Treasury Note		2.375		05/15/29		97,764,375
	22,000,000		United States Treasury Note		1.625		08/15/29		22,078,203
	117,000,000		United States Treasury Note		1.500		02/15/30		115,560,351
	50,000,000		United States Treasury Note		0.625		05/15/30		45,500,000
	37,000,000		United States Treasury Note		0.625		08/15/30		33,531,250
	84,000,000		United States Treasury Note		0.875		11/15/30		77,686,875
	85,000,000	e	United States Treasury Note		1.125		02/15/31		80,311,719
	57,000,000		United States Treasury Note		1.000		05/15/40		46,508,437

145

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	32,500,000	United States Treasury Note		1.125	%	08/15/40	$	26,426,562
	147,500,000	United States Treasury Note		1.375		11/15/40		125,467,187
	62,000,000	United States Treasury Note		1.875		02/15/41		57,727,813
	35,850,000	United States Treasury Note		1.250		05/15/50		27,054,147
	28,000,000	United States Treasury Note		1.375		08/15/50		21,848,750
	83,500,000	United States Treasury Note		1.625		11/15/50		69,578,984
	47,000,000	United States Treasury Note		1.875		02/15/51		41,712,500
		TOTAL U.S. TREASURY SECURITIES						7,140,979,497

		TOTAL GOVERNMENT BONDS						13,641,885,085
		(Cost $13,384,732,230)

STRUCTURED ASSETS - 2.7%

ASSET BACKED - 0.6%
	152,634	American Airlines Pass Through Trust		3.600		09/22/27		153,675
		Series - 2015 2 (Class AA)
	157,124	American Airlines Pass Through Trust		3.575		01/15/28		159,083
		Series - 2016 1 (Class AA)
	465,463	American Airlines Pass Through Trust		3.200		06/15/28		463,546
		Series - 2016 2 (Class AA)
	241,500	American Airlines Pass Through Trust		3.650		02/15/29		243,408
		Series - 2017 1 (Class AA)
	709,395	American Airlines Pass Through Trust		3.150		02/15/32		706,039
		Series - 2019 1 (Class )
	3,000,000	American Express Credit Account Master Trust		2.870		10/15/24		3,076,181
		Series - 2019 1 (Class A)
	4,250,000	American Express Credit Account Master Trust		2.670		11/15/24		4,357,397
		Series - 2019 2 (Class A)
	1,325,000	AmeriCredit Automobile Receivables Trust		2.600		09/18/23		1,342,842
		Series - 2017 4 (Class C)
	664,001	AmeriCredit Automobile Receivables Trust		2.970		11/20/23		670,923
		Series - 2019 1 (Class A3)
	1,000,000	AmeriCredit Automobile Receivables Trust		1.110		08/19/24		1,007,918
		Series - 2020 1 (Class A3)
	500,000	AmeriCredit Automobile Receivables Trust		1.480		01/21/25		508,168
		Series - 2020 1 (Class B)
	500,000	AmeriCredit Automobile Receivables Trust		0.530		06/18/25		501,163
		Series - 2020 3 (Class A3)
	500,000	AmeriCredit Automobile Receivables Trust		1.060		08/18/26		501,139
		Series - 2020 3 (Class C)
	1,500,000	AmeriCredit Automobile Receivables Trust		0.680		10/19/26		1,495,374
		Series - 2021 1 (Class B)
	1,000,000	AmeriCredit Automobile Receivables Trust		0.890		10/19/26		996,205
		Series - 2021 1 (Class C)
	2,500,000	BA Credit Card Trust		0.340		05/15/26		2,489,520
		Series - 2020 A1 (Class A1)
	10,000,000	Cantor Commercial Real Estate Lending		3.523		05/15/52		10,848,030
		Series - 2019 CF1 (Class A4)
	6,000,000	Cantor Commercial Real Estate Lending		3.623		05/15/52		6,422,618
		Series - 2019 CF1 (Class A2)
	2,500,000	Capital One Multi-Asset Execution Trust		2.840		12/15/24		2,557,880
		Series - 2019 A1 (Class A1)
	2,500,000	Capital One Multi-Asset Execution Trust		2.060		08/15/28		2,600,643
		Series - 2019 A3 (Class A3)

146

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	1,433,629		Capital One Prime Auto Receivables Trust		2.510	%	11/15/23	$	1,454,758
			Series - 2019 1 (Class A3)
	500,000		Carmax Auto Owner Trust		0.530		10/15/26		495,662
			Series - 2021 1 (Class A4)
	900,000		Carmax Auto Owner Trust		0.740		10/15/26		888,798
			Series - 2021 1 (Class B)
	1,837,266		CarMax Auto Owner Trust		2.220		11/15/22		1,846,542
			Series - 2017 3 (Class A4)
	227,108		CarMax Auto Owner Trust		2.480		11/15/22		228,209
			Series - 2018 1 (Class A3)
	575,000		CarMax Auto Owner Trust		2.410		12/15/22		578,273
			Series - 2017 2 (Class B)
	1,000,000		CarMax Auto Owner Trust		1.700		11/15/24		1,016,080
			Series - 2020 2 (Class A3)
	1,000,000		CarMax Auto Owner Trust		2.770		12/16/24		1,044,740
			Series - 2019 2 (Class A4)
	500,000		CarMax Auto Owner Trust		0.500		08/15/25		500,805
			Series - 2020 4 (Class A3)
	1,000,000		Chase Issuance Trust		2.160		09/15/24		1,027,891
			Series - 2012 A7 (Class A7)
	1,250,000		CitiBank Credit Card Issuance Trust		2.190		11/20/23		1,265,807
			Series - 2016 A2 (Class A2)
	500,000		Drive Auto Receivables Trust		0.830		05/15/24		501,783
			Series - 2020 2 (Class A3)
	500,000		Drive Auto Receivables Trust		1.420		03/17/25		506,751
			Series - 2020 2 (Class B)
	973,264		FedEx Corp 2020- Class AA Pass Through Trust		1.875		02/20/34		942,536
	3,000,000		FHLMC Multifamily Structured Pass Through Certificates		2.307		08/25/22		3,072,573
			Series - 2012 K023 (Class A2)
	96,422		FHLMC Multifamily Structured Pass Through Certificates		2.779		09/25/22		97,901
			Series - 2013 K030 (Class A1)
	500,000		FHLMC Multifamily Structured Pass Through Certificates		2.510		11/25/22		515,936
			Series - 2013 K026 (Class A2)
	500,000		FHLMC Multifamily Structured Pass Through Certificates		2.637		01/25/23		518,238
			Series - 2013 K027 (Class A2)
	27,748		FHLMC Multifamily Structured Pass Through Certificates		2.669		02/25/23		28,326
			Series - 2013 K034 (Class A1)
	3,000,000	i	FHLMC Multifamily Structured Pass Through Certificates		3.060		07/25/23		3,164,900
			Series - 2013 K033 (Class A2)
	1,750,000	i	FHLMC Multifamily Structured Pass Through Certificates		3.531		07/25/23		1,865,289
			Series - 2013 K034 (Class A2)
	1,500,000	i	FHLMC Multifamily Structured Pass Through Certificates		3.527		10/25/23		1,606,458
			Series - 2014 K036 (Class A2)

147

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	3,000,000	FHLMC Multifamily Structured Pass Through Certificates		3.023	%	01/25/25	$	3,237,308
		Series - 2015 K045 (Class A2)
	1,000,000	Ford Credit Auto Lease Trust		0.620		08/15/23		1,003,498
		Series - 2020 B (Class A3)
	1,000,000	Ford Credit Auto Lease Trust		0.690		10/15/23		1,005,088
		Series - 2020 B (Class A4)
	500,000	Ford Credit Auto Lease Trust		1.000		11/15/23		504,500
		Series - 2020 B (Class B)
	1,500,000	Ford Credit Auto Lease Trust		0.300		04/15/24		1,497,614
		Series - 2021 A (Class A4)
	600,000	Ford Credit Auto Lease Trust		0.470		05/15/24		597,776
		Series - 2021 A (Class B)
	2,607,700	Ford Credit Auto Owner Trust		2.230		10/15/23		2,640,491
		Series - 2019 B (Class A3)
	500,000	Ford Credit Auto Owner Trust		0.510		08/15/26		498,132
		Series - 2020 C (Class A4)
	2,000,000	Ford Credit Auto Owner Trust		0.490		09/15/26		1,982,761
		Series - 2021 A (Class A4)
	2,350,000	Ford Credit Floorplan Master Owner Trust		2.230		09/15/24		2,412,419
		Series - 2019 3 (Class A1)
	850,000	Ford Credit Floorplan Master Owner Trust		2.440		09/15/26		897,901
		Series - 2019 4 (Class A)
	1,000,000	GM Financial Consumer Automobile Receivables Trust		2.710		08/16/24		1,035,413
		Series - 2019 2 (Class A4)
	500,000	GM Financial Consumer Automobile Receivables Trust		1.490		12/16/24		507,609
		Series - 2020 2 (Class A3)
	500,000	GM Financial Consumer Automobile Receivables Trust		0.380		08/18/25		499,802
		Series - 2020 4 (Class A3)
	750,000	GM Financial Consumer Automobile Receivables Trust		0.350		10/16/25		749,273
		Series - 2021 1 (Class A3)
	500,000	GM Financial Consumer Automobile Receivables Trust		0.500		02/17/26		497,991
		Series - 2020 4 (Class A4)
	1,000,000	GM Financial Leasing Trust		0.450		08/21/23		1,002,173
		Series - 2020 3 (Class A3)
	1,000,000	GM Financial Leasing Trust		0.510		10/21/24		1,003,620
		Series - 2020 3 (Class A4)
	1,000,000	GM Financial Leasing Trust		1.010		07/21/25		999,203
		Series - 2021 1 (Class D)
	1,806,473	Honda Auto Receivables Owner Trust		2.520		06/21/23		1,833,510
		Series - 2019 2 (Class A3)
	2,068,000	Honda Auto Receivables Owner Trust		3.160		08/19/24		2,099,815
		Series - 2018 2 (Class A4)
	1,000,000	Honda Auto Receivables Owner Trust		0.420		01/21/28		993,214
		Series - 2021 1 (Class A4)
	733,828	Hyundai Auto Receivables Trust		1.960		02/15/23		735,734
		Series - 2017 B (Class A4)
	2,000,000	Hyundai Auto Receivables Trust		3.030		11/17/25		2,087,715
		Series - 2019 A (Class C)

148

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	1,000,000	Mercedes-Benz Auto Lease Trust		0.400	%	11/15/23	$	1,001,833
		Series - 2020 B (Class A3)
	250,000	Mercedes-Benz Auto Lease Trust		0.500		06/15/26		250,093
		Series - 2020 B (Class A4)
	1,000,000	Mercedes-Benz Auto Lease Trust		0.320		10/15/26		996,469
		Series - 2021 A (Class A4)
	1,514,854	Nissan Auto Receivables Owner Trust		2.900		10/16/23		1,538,970
		Series - 2019 A (Class A3)
	1,849,971	Nissan Auto Receivables Owner Trust		2.500		11/15/23		1,879,873
		Series - 2019 B (Class A3)
	400,000	Santander Drive Auto Receivables Trust		0.480		07/15/24		400,787
		Series - 2020 4 (Class A3)
	500,000	Santander Drive Auto Receivables Trust		0.520		07/15/24		500,671
		Series - 2020 3 (Class A3)
	500,000	Santander Drive Auto Receivables Trust		0.690		03/17/25		501,576
		Series - 2020 3 (Class B)
	500,000	Santander Drive Auto Receivables Trust		0.730		03/17/25		502,206
		Series - 2020 4 (Class B)
	1,000,000	Santander Drive Auto Receivables Trust		0.500		04/15/25		999,360
		Series - 2021 1 (Class B)
	250,000	Santander Drive Auto Receivables Trust		1.010		01/15/26		250,817
		Series - 2020 4 (Class C)
	500,000	Santander Drive Auto Receivables Trust		0.750		02/17/26		498,811
		Series - 2021 1 (Class C)
	4,000,000	Synchrony Card Funding LLC		2.340		06/15/25		4,098,144
		Series - 2019 A2 (Class A)
	2,160,000	Toyota Auto Receivables Owner Trust		1.360		08/15/24		2,190,069
		Series - 2020 B (Class A3)
	500,000	Toyota Auto Receivables Owner Trust		0.350		01/15/25		500,466
		Series - 2020 D (Class A3)
	500,000	Toyota Auto Receivables Owner Trust		0.470		01/15/26		497,126
		Series - 2020 D (Class A4)
	203,365	United Airlines Pass Through Trust		4.300		08/15/25		211,225
		Series - 2013 1 (Class A)
	207,135	United Airlines Pass Through Trust		3.750		09/03/26		214,911
		Series - 2014 2 (Class A)
	2,439,563	United Airlines Pass Through Trust		5.875		10/15/27		2,704,727
	156,483	United Airlines Pass Through Trust		3.450		12/01/27		163,582
		Series - 2015 1 (Class AA)
	163,064	United Airlines Pass Through Trust		3.100		07/07/28		166,700
		Series - 2016 1 (Class AA)
	163,064	United Airlines Pass Through Trust		3.450		07/07/28		163,292
		Series - 2016 1 (Class A)
	336,566	United Airlines Pass Through Trust		2.875		10/07/28		341,629
		Series - 2016 2 (Class A)
	1,325,192	United Airlines Pass Through Trust		3.500		03/01/30		1,356,050
		Series - 2018 1 (Class AA)
	337,033	United Airlines Pass Through Trust		4.150		08/25/31		359,471
		Series - 2019 1 (Class AA)
	246,308	United Airlines Pass Through Trust		2.700		05/01/32		239,220
		Series - 2019 2 (Class )
	500,000	Volkswagen Auto Lease Trust		0.390		01/22/24		500,645
		Series - 2020 A (Class A3)

149

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	750,000		Volkswagen Auto Lease Trust		0.450	%	07/21/25	$	749,867
			Series - 2020 A (Class A4)
	2,000,000		World Financial Network Credit Card Master Trust		2.490		04/15/26		2,050,289
			Series - 2019 B (Class A)
	2,000,000		World Omni Auto Receivables Trust		0.300		01/15/26		1,994,548
			Series - 2021 A (Class A3)
	500,000		World Omni Automobile Lease Securitization Trust		0.450		02/15/24		500,756
			Series - 2020 B (Class A3)
			TOTAL ASSET BACKED						122,916,751

OTHER MORTGAGE BACKED - 2.1%
	2,500,000		BANK		1.650		12/15/53		2,367,849
			Series - 2020 BN30 (Class A3)
	1,500,000		BANK		1.925		12/15/53		1,438,351
			Series - 2020 BN30 (Class A4)
	500,000	i	BANK		2.111		12/15/53		477,702
			Series - 2020 BN30 (Class AS)
	500,000	i	BANK		2.445		12/15/53		484,851
			Series - 2020 BN30 (Class B)
	2,000,000		BANK		1.771		02/15/54		1,900,522
			Series - 2021 BN31 (Class A3)
	1,000,000		BANK		2.036		02/15/54		967,728
			Series - 2021 BN31 (Class A4)
	500,000	i	BANK		2.211		02/15/54		479,017
			Series - 2021 BN31 (Class AS)
	500,000	i	BANK		2.383		02/15/54		478,076
			Series - 2021 BN31 (Class B)
	500,000	i	BANK		2.545		02/15/54		464,729
			Series - 2021 BN31 (Class C)
	2,000,000		BANK		3.538		11/15/54		2,187,511
			Series - 2017 BNK9 (Class A4)
	1,500,000		BANK		3.390		06/15/60		1,630,987
			Series - 2017 BNK5 (Class A5)
	5,000,000		BANK		3.641		02/15/61		5,494,171
			Series - 2018 BN10 (Class ASB)
	2,000,000	i	BANK		3.898		02/15/61		2,204,334
			Series - 2018 BN10 (Class AS)
	8,000,000		BANK		3.584		05/15/62		8,739,971
			Series - 2019 BN18 (Class A4)
	5,000,000		BANK		1.584		03/15/63		4,699,868
			Series - 2020 BN28 (Class A3)
	3,000,000		Barclays Commercial Mortgage Trust		3.674		02/15/50		3,304,316
			Series - 2017 C1 (Class A4)
	12,500,000		Barclays Commercial Mortgage Trust		2.690		02/15/53		13,026,501
			Series - 2020 C6 (Class A2)
	3,000,000		Benchmark Mortgage Trust		3.571		01/15/51		3,113,603
			Series - 2018 B1 (Class A2)
	1,000,000	i	Benchmark Mortgage Trust		3.878		01/15/51		1,100,689
			Series - 2018 B1 (Class AM)
	980,271		Benchmark Mortgage Trust		3.976		07/15/51		1,037,239
			Series - 2018 B4 (Class A2)
	1,000,000	i	Benchmark Mortgage Trust		4.556		07/15/51		1,085,623
			Series - 2018 B4 (Class C)
	5,850,000		Benchmark Mortgage Trust		3.542		05/15/52		6,377,062
			Series - 2019 B11 (Class A5)

150

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	1,000,000	i	Benchmark Mortgage Trust		2.944	%	02/15/53	$	1,022,246
			Series - 2020 B16 (Class AM)
	1,500,000	i	Benchmark Mortgage Trust		3.176		02/15/53		1,531,095
			Series - 2020 B16 (Class B)
	1,500,000	i	Benchmark Mortgage Trust		3.536		02/15/53		1,508,443
			Series - 2020 B16 (Class C)
	2,000,000	i	Benchmark Mortgage Trust		4.510		05/15/53		2,305,345
			Series - 2018 B7 (Class A4)
	5,000,000		Benchmark Mortgage Trust		1.925		07/15/53		4,826,894
			Series - 2020 B18 (Class A5)
	2,500,000		Benchmark Mortgage Trust		1.704		12/17/53		2,380,907
			Series - 2020 B21 (Class A4)
	2,500,000		Benchmark Mortgage Trust		1.978		12/17/53		2,410,108
			Series - 2020 B21 (Class A5)
	2,500,000		Benchmark Mortgage Trust		1.685		01/15/54		2,367,370
			Series - 2020 B22 (Class A4)
	1,500,000		Benchmark Mortgage Trust		1.973		01/15/54		1,441,514
			Series - 2020 B22 (Class A5)
	1,500,000		Benchmark Mortgage Trust		2.163		01/15/54		1,437,124
			Series - 2020 B22 (Class AM)
	2,000,000		Benchmark Mortgage Trust		1.620		02/15/54		2,018,885
			Series - 2021 B23 (Class A2)
	1,500,000		Benchmark Mortgage Trust		1.823		02/15/54		1,428,574
			Series - 2021 B23 (Class A4A1)
	1,500,000		Benchmark Mortgage Trust		2.070		02/15/54		1,454,109
			Series - 2021 B23 (Class A5)
	500,000		Benchmark Mortgage Trust		2.095		02/15/54		473,136
			Series - 2021 B23 (Class B)
	500,000		Benchmark Mortgage Trust		2.274		02/15/54		480,398
			Series - 2021 B23 (Class AS)
	500,000	i	Benchmark Mortgage Trust		2.563		02/15/54		468,927
			Series - 2021 B23 (Class C)
	5,000,000		Benchmark Mortgage Trust		2.914		12/15/72		5,202,369
			Series - 2019 B15 (Class A2)
	1,000,000	i	CD Mortgage Trust		3.526		11/10/49		1,091,956
			Series - 2016 CD2 (Class A4)
	2,000,000		CD Mortgage Trust		3.631		02/10/50		2,195,015
			Series - 2017 CD3 (Class A4)
	1,000,000		CD Mortgage Trust		3.025		08/15/50		1,018,427
			Series - 2017 CD5 (Class A2)
	2,500,000		CD Mortgage Trust		3.431		08/15/50		2,717,334
			Series - 2017 CD5 (Class A4)
	1,000,000	i	CD Mortgage Trust		3.684		08/15/50		1,089,085
			Series - 2017 CD5 (Class AS)
	1,750,000		CD Mortgage Trust		4.279		08/15/51		1,983,690
			Series - 2018 CD7 (Class A4)
	1,053,000		Citigroup Commercial Mortgage Trust		3.422		04/10/46		1,094,332
			Series - 2013 GC11 (Class AS)
	755,000		Citigroup Commercial Mortgage Trust		4.023		03/10/47		814,005
			Series - 2014 GC19 (Class A4)
	440,887		Citigroup Commercial Mortgage Trust		3.622		07/10/47		475,862
			Series - 2014 GC23 (Class A4)

151

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	500,000		Citigroup Commercial Mortgage Trust		3.635	%	10/10/47	$	541,078
			Series - 2014 GC25 (Class A4)
	1,000,000		Citigroup Commercial Mortgage Trust		3.137		02/10/48		1,067,402
			Series - 2015 GC27 (Class A5)
	1,000,000		Citigroup Commercial Mortgage Trust		3.571		02/10/48		1,070,895
			Series - 2015 GC27 (Class AS)
	1,000,000		Citigroup Commercial Mortgage Trust		3.616		02/10/49		1,093,658
			Series - 2016 GC36 (Class A5)
	2,000,000		Citigroup Commercial Mortgage Trust		3.314		04/10/49		2,159,287
			Series - 2016 GC37 (Class A4)
	500,000		Citigroup Commercial Mortgage Trust		3.576		04/10/49		538,686
			Series - 2016 GC37 (Class AS)
	1,500,000		Citigroup Commercial Mortgage Trust		2.832		08/10/49		1,583,651
			Series - 2016 C2 (Class A4)
	1,000,000		Citigroup Commercial Mortgage Trust		3.465		09/15/50		1,089,321
			Series - 2017 P8 (Class A4)
	2,000,000		Citigroup Commercial Mortgage Trust		4.074		06/10/51		2,099,302
			Series - 2018 C5 (Class A2)
	1,480,000		Citigroup Commercial Mortgage Trust		3.778		09/10/58		1,625,680
			Series - 2015 GC33 (Class A4)
	580,000		COMM Mortgage Trust		4.063		12/10/44		590,965
			Series - 2012 LC4 (Class AM)
	22,960		COMM Mortgage Trust		2.752		08/15/45		22,986
			Series - 2012 CR2 (Class ASB)
	320,949		COMM Mortgage Trust		2.941		01/10/46		331,596
			Series - 2013 LC6 (Class A4)
	320,069		COMM Mortgage Trust		3.213		03/10/46		333,448
			Series - 2013 CR7 (Class A4)
	1,000,000		COMM Mortgage Trust		4.046		10/10/46		1,075,031
			Series - 2013 CR12 (Class A4)
	295,009		COMM Mortgage Trust		2.928		02/10/47		292,975
			Series - 2014 CR15 (Class A2)
	2,750,000		COMM Mortgage Trust		3.955		02/10/47		2,957,117
			Series - 2014 CR14 (Class A3)
	500,000		COMM Mortgage Trust		3.961		03/10/47		539,789
			Series - 2014 UBS2 (Class A5)
	1,000,000		COMM Mortgage Trust		4.051		04/10/47		1,085,669
			Series - 2014 CR16 (Class A4)
	1,000,000		COMM Mortgage Trust		3.819		06/10/47		1,083,790
			Series - 2014 UBS3 (Class A4)
	1,000,000		COMM Mortgage Trust		3.694		08/10/47		1,079,353
			Series - 2014 UBS4 (Class A5)
	875,944		COMM Mortgage Trust		3.326		11/10/47		929,487
			Series - 2014 CR20 (Class A3)
	1,000,000		COMM Mortgage Trust		3.590		11/10/47		1,080,835
			Series - 2014 CR20 (Class A4)
	1,000,000	i	COMM Mortgage Trust		4.339		12/10/47		1,082,253
			Series - 2014 CR21 (Class B)
	3,150,000		COMM Mortgage Trust		3.183		02/10/48		3,374,995
			Series - 2015 LC19 (Class A4)
	1,000,000	i	COMM Mortgage Trust		4.235		02/10/48		1,068,295
			Series - 2015 LC19 (Class C)
	1,700,000		COMM Mortgage Trust		3.708		07/10/48		1,861,201
			Series - 2015 LC21 (Class A4)

152

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	948,551		COMM Mortgage Trust		3.432	%	08/10/48	$	1,026,552
			Series - 2015 CR24 (Class A4)
	1,000,000		COMM Mortgage Trust		3.759		08/10/48		1,100,310
			Series - 2015 CR25 (Class A4)
	1,024,515		COMM Mortgage Trust		3.221		10/10/48		1,009,028
			Series - 2015 LC23 (Class A2)
	1,500,000		COMM Mortgage Trust		3.774		10/10/48		1,649,170
			Series - 2015 LC23 (Class A4)
	500,000		COMM Mortgage Trust		4.258		08/10/50		539,719
			Series - 2013 CR11 (Class A4)
	5,000,000		COMM Mortgage Trust		2.827		08/15/57		5,255,372
			Series - 2019 GC44 (Class A2)
	3,000,000		COMM Mortgage Trust		3.263		08/15/57		3,162,116
			Series - 2019 GC44 (Class AM)
	650,000	i	CSAIL Commercial Mortgage Trust		4.953		01/15/49		677,669
			Series - 2016 C6 (Class C)
	2,000,000	i	CSAIL Commercial Mortgage Trust		4.224		08/15/51		2,250,342
			Series - 2018 CX12 (Class A4)
	10,000,000		CSAIL Commercial Mortgage Trust		4.053		03/15/52		11,157,410
			Series - 2019 C15 (Class A4)
	2,000,000		DBGS Mortgage Trust		4.358		10/15/51		2,154,563
			Series - 2018 C1 (Class A2)
	5,790,000		DBGS Mortgage Trust		4.466		10/15/51		6,640,542
			Series - 2018 C1 (Class A4)
	3,500,000		DBJPM		3.276		05/10/49		3,763,242
			Series - 2016 C1 (Class A4)
	1,000,000		DBJPM		3.539		05/10/49		1,073,052
			Series - 2016 C1 (Class AM)
	1,590,000		DBJPM		3.328		06/10/50		1,720,970
			Series - 2017 C6 (Class A5)
	5,000,000		DBJPM		1.900		09/15/53		5,105,556
			Series - 2020 C9 (Class A2)
	1,500,000		Freddie Mac Multifamily Structured Pass Through Certificates		1.199		12/25/27		1,465,934
			Series - 2021 K741 (Class AM)
	8,440,000		Freddie Mac Multifamily Structured Pass Through Certificates		1.603		12/25/27		8,495,568
			Series - 2021 K741 (Class A2)
	998,386		Freddie Mac Multifamily Structured Pass Through Certificates		1.101		08/25/30		972,588
			Series - 2021 K125 (Class A1)
	2,000,000		Freddie Mac Multifamily Structured Pass Through Certificates		1.353		11/25/30		1,984,271
			Series - 2021 K127 (Class A1)
	1,000,000		Freddie Mac Multifamily Structured Pass Through Certificates		1.792		01/25/31		983,938
			Series - 2021 K126 (Class AM)
	9,000,000		Freddie Mac Multifamily Structured Pass Through Certificates		1.846		01/25/31		8,943,080
			Series - 2021 K125 (Class A2)
	3,000,000		Freddie Mac Multifamily Structured Pass Through Certificates		2.108		01/25/31		3,052,640
			Series - 2021 K127 (Class A2)

153

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	1,332,000		Freddie Mac Multifamily Structured Pass Through Certificates		1.851	%	02/25/31	$	1,315,513
			Series - 2021 K127 (Class AM)
	18,371		GS Mortgage Securities Corp II		3.314		01/10/45		18,390
			Series - 2012 GC6 (Class AAB)
	300,000		GS Mortgage Securities Corp II		2.943		02/10/46		310,695
			Series - 2013 GC10 (Class A5)
	300,000		GS Mortgage Securities Corp II		3.279		02/10/46		310,695
			Series - 2013 GC10 (Class AS)
	800,000		GS Mortgage Securities Corp II		3.382		05/10/50		863,403
			Series - 2015 GC30 (Class A4)
	487,815		GS Mortgage Securities Trust		3.482		01/10/45		492,142
			Series - 2012 GC6 (Class A3)
	195,000		GS Mortgage Securities Trust		4.740		05/10/45		201,241
			Series - 2012 GCJ7 (Class B)
	500,000		GS Mortgage Securities Trust		3.135		06/10/46		522,080
			Series - 2013 GC12 (Class A4)
	300,379		GS Mortgage Securities Trust		3.813		11/10/46		313,189
			Series - 2013 GC16 (Class AAB)
	1,000,000		GS Mortgage Securities Trust		4.074		01/10/47		1,078,007
			Series - 2014 GC18 (Class A4)
	1,500,000		GS Mortgage Securities Trust		3.964		11/10/47		1,624,661
			Series - 2014 GC26 (Class AS)
	1,841,317		GS Mortgage Securities Trust		3.136		02/10/48		1,943,170
			Series - 2015 GC28 (Class A4)
	1,500,000		GS Mortgage Securities Trust		3.178		11/10/49		1,573,426
			Series - 2016 GS4 (Class A3)
	1,350,000	i	GS Mortgage Securities Trust		3.811		11/10/49		1,272,565
			Series - 2016 GS4 (Class C)
	1,000,000		GS Mortgage Securities Trust		2.945		08/10/50		1,021,594
			Series - 2017 GS7 (Class A2)
	1,500,000		GS Mortgage Securities Trust		3.430		08/10/50		1,625,470
			Series - 2017 GS7 (Class A4)
	1,000,000		GS Mortgage Securities Trust		3.872		02/10/52		1,067,860
			Series - 2019 GC38 (Class A2)
	2,500,000		GS Mortgage Securities Trust		3.968		02/10/52		2,797,368
			Series - 2019 GC38 (Class A4)
	500,000	i	GS Mortgage Securities Trust		4.309		02/10/52		546,153
			Series - 2019 GC38 (Class B)
	2,500,000		GS Mortgage Securities Trust		2.898		02/13/53		2,642,210
			Series - 2020 GC45 (Class A2)
	4,000,000	i	GS Mortgage Securities Trust		3.173		02/13/53		4,235,793
			Series - 2020 GC45 (Class AS)
	2,000,000	i	GS Mortgage Securities Trust		3.405		02/13/53		2,088,919
			Series - 2020 GC45 (Class B)
	2,000,000		GS Mortgage Securities Trust		2.125		05/12/53		1,971,156
			Series - 2020 GC47 (Class A4)
	4,000,000		GS Mortgage Securities Trust		2.377		05/12/53		4,008,149
			Series - 2020 GC47 (Class A5)
	1,000,000		GS Mortgage Securities Trust		1.662		12/12/53		993,068
			Series - 2020 GSA2 (Class AAB)
	3,000,000		GS Mortgage Securities Trust		1.721		12/12/53		2,829,241
			Series - 2020 GSA2 (Class A4)
	2,000,000		GS Mortgage Securities Trust		2.012		12/12/53		1,920,723
			Series - 2020 GSA2 (Class A5)

154

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	1,000,000		GS Mortgage Securities Trust		2.224	%	12/12/53	$	963,001
			Series - 2020 GSA2 (Class AS)
	300,000	i	JP Morgan Chase Commercial Mortgage Securities Corp		5.142		05/15/45		273,251
			Series - 2012 C6 (Class D)
	236,113		JP Morgan Chase Commercial Mortgage Securities Corp		3.483		06/15/45		239,179
			Series - 2012 CBX (Class A4)
	410,544	i	JP Morgan Chase Commercial Mortgage Securities Corp		3.994		01/15/46		437,109
			Series - 2013 C13 (Class A4)
	1,500,000		JP Morgan Chase Commercial Mortgage Securities Corp		2.960		04/15/46		1,562,469
			Series - 2013 LC11 (Class A5)
	60,990		JP Morgan Chase Commercial Mortgage Securities Corp		4.171		08/15/46		61,172
			Series - 2011 C5 (Class A3)
	500,000		JP Morgan Chase Commercial Mortgage Securities Corp		4.166		12/15/46		539,409
			Series - 2013 C16 (Class A4)
	153,788		JP Morgan Chase Commercial Mortgage Securities Corp		2.702		12/15/47		156,824
			Series - 2013 C10 (Class ASB)
	238,547		JP Morgan Chase Commercial Mortgage Securities Corp		2.840		12/15/47		245,310
			Series - 2012 LC9 (Class A5)
	491,190		JP Morgan Chase Commercial Mortgage Securities Corp		3.143		12/15/47		510,264
			Series - 2013 C10 (Class A5)
	574,000		JP Morgan Chase Commercial Mortgage Securities Corp		3.372		12/15/47		596,339
			Series - 2013 C10 (Class AS)
	1,000,000		JP Morgan Chase Commercial Mortgage Securities Corp		2.822		08/15/49		1,057,517
			Series - 2016 JP2 (Class A4)
	1,400,000		JP Morgan Chase Commercial Mortgage Securities Corp		3.109		07/15/50		1,461,565
			Series - 2017 JP6 (Class A3)
	1,000,000		JP Morgan Chase Commercial Mortgage Securities Corp		3.038		09/15/50		1,025,311
			Series - 2017 JP7 (Class A2)
	2,500,000		JP Morgan Chase Commercial Mortgage Securities Corp		3.454		09/15/50		2,714,710
			Series - 2017 JP7 (Class A5)
	2,150,000		JP Morgan Chase Commercial Mortgage Securities Corp		3.219		06/13/52		2,340,415
			Series - 2019 COR5 (Class ASB)
	2,000,000		JPMBB Commercial Mortgage Securities Trust		3.801		09/15/47		2,164,796
			Series - 2014 C22 (Class A4)
	1,875,000	i	JPMBB Commercial Mortgage Securities Trust		4.118		05/15/48		1,952,280
			Series - 2015 C29 (Class B)
	2,700,000		JPMBB Commercial Mortgage Securities Trust		3.227		10/15/48		2,887,007
			Series - 2015 C28 (Class A4)

155

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	1,100,000		JPMBB Commercial Mortgage Securities Trust		3.532	%	10/15/48	$	1,172,501
			Series - 2015 C28 (Class AS)
	2,000,000		JPMBB Commercial Mortgage Securities Trust		3.770		12/15/48		2,201,537
			Series - 2015 C33 (Class A4)
	1,000,000		JPMBB Commercial Mortgage Securities Trust		3.576		03/15/49		1,092,456
			Series - 2016 C1 (Class A5)
	500,000		JPMBB Commercial Mortgage Securities Trust		3.970		03/15/49		547,644
			Series - 2016 C1 (Class AS)
	500,000	i	JPMBB Commercial Mortgage Securities Trust		4.737		03/15/49		553,842
			Series - 2016 C1 (Class B)
	1,000,000	i	JPMDB Commercial Mortgage Securities Trust		3.990		06/15/49		1,026,125
			Series - 2016 C2 (Class B)
	5,922,824		JPMDB Commercial Mortgage Securities Trust		3.141		12/15/49		6,366,820
			Series - 2016 C4 (Class A3)
	5,000,000		JPMDB Commercial Mortgage Securities Trust		2.946		11/13/52		5,284,694
			Series - 2019 COR6 (Class A2)
	60,000		Morgan Stanley Bank of America Merrill Lynch Trust		2.918		02/15/46		62,046
			Series - 2013 C7 (Class A4)
	485,066		Morgan Stanley Bank of America Merrill Lynch Trust		2.834		05/15/46		499,040
			Series - 2013 C9 (Class A3)
	1,250,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.102		05/15/46		1,304,002
			Series - 2013 C9 (Class A4)
	500,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.456		05/15/46		521,551
			Series - 2013 C9 (Class AS)
	240,000	i	Morgan Stanley Bank of America Merrill Lynch Trust		3.708		05/15/46		246,470
			Series - 2013 C9 (Class B)
	92,197		Morgan Stanley Bank of America Merrill Lynch Trust		3.824		10/15/46		95,398
			Series - 2013 C12 (Class ASB)
	674,898		Morgan Stanley Bank of America Merrill Lynch Trust		3.654		04/15/47		705,340
			Series - 2014 C15 (Class ASB)
	2,000,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.892		06/15/47		2,159,335
			Series - 2014 C16 (Class A5)
	3,500,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.249		02/15/48		3,757,870
			Series - 2015 C20 (Class A4)
	1,000,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.306		04/15/48		1,071,969
			Series - 2015 C22 (Class A4)
	1,000,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.732		05/15/48		1,097,687
			Series - 2015 C24 (Class A4)
	3,000,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.134		12/15/48		3,113,395
			Series - 2013 C8 (Class A4)

156

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	2,000,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.599	%	05/15/50	$	2,187,688
			Series - 2017 C33 (Class A5)
	1,246,948		Morgan Stanley Capital I Trust		3.244		03/15/45		1,263,876
			Series - 2012 C4 (Class A4)
	535,000		Morgan Stanley Capital I Trust		3.594		03/15/49		584,070
			Series - 2016 UBS9 (Class A4)
	1,000,000		Morgan Stanley Capital I Trust		3.997		07/15/51		1,062,730
			Series - 2018 H3 (Class A2)
	1,000,000	i	Morgan Stanley Capital I Trust		4.850		07/15/51		1,085,674
			Series - 2018 H3 (Class C)
	1,500,000	i	Morgan Stanley Capital I Trust		4.238		10/15/51		1,699,002
			Series - 2018 L1 (Class ASB)
	2,000,000		Morgan Stanley Capital I Trust		4.288		10/15/51		2,154,521
			Series - 2018 L1 (Class A2)
	1,500,000	i	Morgan Stanley Capital I Trust		4.407		10/15/51		1,715,480
			Series - 2018 L1 (Class A4)
	1,000,000		Morgan Stanley Capital I Trust		4.071		03/15/52		1,119,376
			Series - 2019 L2 (Class A4)
	5,000,000		Morgan Stanley Capital I Trust		3.224		06/15/52		5,441,666
			Series - 2019 H6 (Class ASB)
	750,000		Morgan Stanley Capital I Trust		3.417		06/15/52		808,460
			Series - 2019 H6 (Class A4)
	5,000,000		Morgan Stanley Capital I Trust		1.790		07/15/53		4,770,964
			Series - 2020 HR8 (Class A3)
	1,500,000		UBS Barclays Commercial Mortgage Trust		3.185		03/10/46		1,557,503
			Series - 2013 C5 (Class A4)
	500,000		UBS Barclays Commercial Mortgage Trust		3.244		04/10/46		520,968
			Series - 2013 C6 (Class A4)
	1,000,000		UBS Barclays Commercial Mortgage Trust		3.525		05/10/63		1,025,998
			Series - 2012 C2 (Class A4)
	100,000		UBS Commercial Mortgage Trust		4.822		05/10/45		101,591
			Series - 2012 C1 (Class B)
	1,000,000		UBS Commercial Mortgage Trust		2.998		08/15/50		1,025,757
			Series - 2017 C3 (Class A2)
	1,500,000		UBS Commercial Mortgage Trust		3.426		08/15/50		1,635,008
			Series - 2017 C3 (Class A4)
	1,000,000	i	UBS Commercial Mortgage Trust		3.739		08/15/50		1,083,322
			Series - 2017 C3 (Class AS)
	1,000,000		UBS Commercial Mortgage Trust		3.147		10/15/50		1,028,259
			Series - 2017 C4 (Class A2)
	5,000,000		UBS Commercial Mortgage Trust		3.713		02/15/51		5,214,959
			Series - 2018 C8 (Class A2)
	11,000,000		UBS Commercial Mortgage Trust		4.313		05/15/51		12,486,460
			Series - 2018 C10 (Class A4)
	2,000,000		UBS Commercial Mortgage Trust		4.296		08/15/51		2,266,453
			Series - 2018 C12 (Class A5)
	2,400,000	i	UBS Commercial Mortgage Trust		5.269		12/15/51		2,484,413
			Series - 2018 C14 (Class C)
	326,470		UBS-Citigroup Commercial Mortgage Trust		3.595		01/10/45		328,426
			Series - 2011 C1 (Class A3)
	875,000	i	Wells Fargo Commercial Mortgage Trust		3.872		05/15/48		949,497
			Series - 2015 C28 (Class AS)
	2,000,000		Wells Fargo Commercial Mortgage Trust		3.695		11/15/48		2,196,592
			Series - 2015 C31 (Class A4)

157

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	480,000	i	Wells Fargo Commercial Mortgage Trust		4.224	%	12/15/48	$	517,523
			Series - 2015 NXS4 (Class B)
	2,000,000		Wells Fargo Commercial Mortgage Trust		2.652		08/15/49		2,101,079
			Series - 2016 BNK1 (Class A3)
	500,000		Wells Fargo Commercial Mortgage Trust		2.967		08/15/49		501,312
			Series - 2016 BNK1 (Class B)
	1,000,000		Wells Fargo Commercial Mortgage Trust		3.377		11/15/49		1,062,511
			Series - 2016 NXS6 (Class AS)
	2,000,000		Wells Fargo Commercial Mortgage Trust		4.152		08/15/51		2,250,164
			Series - 2018 C46 (Class A4)
	2,700,000		Wells Fargo Commercial Mortgage Trust		3.760		03/15/52		2,982,181
			Series - 2019 C49 (Class A4)
	2,000,000		Wells Fargo Commercial Mortgage Trust		3.635		05/15/52		2,208,478
			Series - 2019 C50 (Class ASB)
	3,250,000		Wells Fargo Commercial Mortgage Trust		4.192		05/15/52		3,548,185
			Series - 2019 C50 (Class B)
	10,000,000		Wells Fargo Commercial Mortgage Trust		3.040		10/15/52		10,522,490
			Series - 2019 C53 (Class A4)
	2,500,000		Wells Fargo Commercial Mortgage Trust		1.810		07/15/53		2,390,842
			Series - 2020 C58 (Class A3)
	1,500,000		Wells Fargo Commercial Mortgage Trust		2.092		07/15/53		1,456,476
			Series - 2020 C58 (Class A4)
	500,000		Wells Fargo Commercial Mortgage Trust		2.398		07/15/53		487,823
			Series - 2020 C58 (Class AS)
	10,000,000		Wells Fargo Commercial Mortgage Trust		1.864		08/15/53		9,576,239
			Series - 2020 C57 (Class A3)
	117,000		Wells Fargo Commercial Mortgage Trust		3.896		03/15/59		121,547
			Series - 2016 C33 (Class C)
	1,075,000		WF-RBS Commercial Mortgage Trust		3.037		03/15/45		1,113,264
			Series - 2013 C11 (Class A4)
	400,000		WF-RBS Commercial Mortgage Trust		3.001		08/15/45		409,804
			Series - 2012 C8 (Class A3)
	775,000		WF-RBS Commercial Mortgage Trust		3.241		12/15/45		790,395
			Series - 2012 C10 (Class AS)
	600,000		WF-RBS Commercial Mortgage Trust		3.337		06/15/46		631,155
			Series - 2013 C14 (Class A5)
	500,000	i	WF-RBS Commercial Mortgage Trust		4.646		03/15/47		522,982
			Series - 2014 C19 (Class C)
	1,000,000	i	WF-RBS Commercial Mortgage Trust		4.723		03/15/47		1,079,365
			Series - 2014 C19 (Class B)
	500,000		WF-RBS Commercial Mortgage Trust		3.198		03/15/48		521,483
			Series - 2013 C12 (Class A4)
			TOTAL OTHER MORTGAGE BACKED						410,388,769

			TOTAL STRUCTURED ASSETS						533,305,520
			(Cost $521,102,505)

			TOTAL BONDS						19,395,462,125
			(Cost $18,879,589,090)

158

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

SHORT-TERM INVESTMENTS - 2.4%

GOVERNMENT AGENCY DEBT - 1.5%
$	1,748,000		Federal Farm Credit Bank (FFCB)		0.010	%	04/01/21	$	1,748,000
	19,255,000		Federal Home Loan Bank (FHLB)		0.005		04/07/21		19,255,000
	17,722,000		FHLB		0.010		04/14/21		17,722,000
	33,000,000		FHLB		0.015		04/16/21		33,000,000
	55,783,000		FHLB		0.035		04/21/21		55,783,000
	72,447,000		FHLB		0.010		04/23/21		72,447,000
	8,082,000		FHLB		0.010		04/28/21		8,082,000
	3,036,000		FHLB		0.005		05/05/21		3,035,971
	28,548,000		FHLB		0.019		05/19/21		28,547,620
	20,000,000		FHLB		0.015		06/08/21		19,999,244
	29,500,000		Federal Home Loan Mortgage Corp (FHLMC)		0.000		01/13/22		30,032,789
			TOTAL GOVERNMENT AGENCY DEBT						289,652,624

TREASURY DEBT - 0.7%
	25,000,000		United States Treasury Bill		0.010		04/06/21		24,999,974
	33,050,000		United States Treasury Bill		0.032		04/08/21		33,049,968
	20,000,000		United States Treasury Bill		0.020		05/06/21		19,999,757
	5,000,000		United States Treasury Bill		0.010		05/13/21		4,999,884
	20,060,000		United States Treasury Bill		0.042		05/27/21		20,059,610
	28,000,000		United States Treasury Bill		0.033		06/01/21		27,999,288
			TOTAL TREASURY DEBT						131,108,481

SHARES			COMPANY

INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 0.2%
	47,264,181	c	State Street Navigator Securities Lending Government Money Market Portfolio		0.030				47,264,181
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES						47,264,181

			TOTAL SHORT-TERM INVESTMENTS						468,025,286
			(Cost $467,622,740)
			TOTAL INVESTMENTS - 101.8%						19,863,487,411
			(Cost $19,347,211,830)
			OTHER ASSETS & LIABILITIES, NET - (1.8)%						(344,240,291	)
			NET ASSETS - 100.0%					$	19,519,247,120



		Abbreviation(s):
DGS1		1-Year Treasury Constant Maturity Rate
LIBOR		London Interbank Offered Rate
M		Month
REIT		Real Estate Investment Trust

‡		Perpetual security
c		Investments made with cash collateral received from securities on loan.
e		All or a portion of these securities are out on loan. The aggregate value of securities on loan is $48,044,994.
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 3/31/2021, the aggregate value of these securities is $172,245,116 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.

159

TIAA-CREF FUNDS - Core Bond Fund

TIAA-CREF FUNDS
CORE BOND FUND
SCHEDULE OF INVESTMENTS
March 31, 2021

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE

BANK LOAN OBLIGATIONS - 2.4%

AUTOMOBILES & COMPONENTS - 0.0%
$	969,643	i	Clarios Global LP	LIBOR 1 M + 3.250%		3.359	%	04/30/26	$	958,735
	808,652	i	Gates Global LLC	LIBOR 1 M + 2.750%		3.500		03/31/27		805,959
	100,000	i	Truck Hero, Inc	LIBOR 1 M + 3.750%		4.500		01/31/28		99,681
			TOTAL AUTOMOBILES & COMPONENTS							1,864,375

BANKS - 0.0%
	1,492,327	i	IG Investments Holdings LLC	LIBOR 3 M + 4.000%		5.000		05/21/25		1,490,462
			TOTAL BANKS							1,490,462

CAPITAL GOODS - 0.1%
	701,491	i	Avolon TLB Borrower US LLC	LIBOR 1 M + 1.750%		2.500		01/15/25		698,551
	915,750	i	Avolon TLB Borrower US LLC	LIBOR 1 M + 1.500%		2.250		02/12/27		903,790
	2,497,449	h,i	Blount International, Inc	LIBOR 1 M + 3.750%		4.750		04/12/23		2,500,571
	994,898	i	Cornerstone Building Brands, Inc	LIBOR 1 M + 3.750%		3.856		04/12/25		993,157
	992,500	i	Gardner Denver, Inc	LIBOR 1 M + 2.750%		2.850		03/01/27		989,602
	383,394	i	Prometric Holdings Inc	LIBOR 1 M + 3.000%		4.000		01/29/25		376,098
	1,458,920	i	TransDigm, Inc	LIBOR 1 M + 2.250%		2.359		08/22/24		1,430,442
	477,845	i	TransDigm, Inc	LIBOR 1 M + 2.250%		2.359		12/09/25		467,490
			TOTAL CAPITAL GOODS							8,359,701

COMMERCIAL & PROFESSIONAL SERVICES - 0.3%
	2,147,813	i	Allied Universal Holdco LLC	LIBOR 1 M + 4.250%		4.359		07/10/26		2,140,295
	485,001	i	Brightview Landscapes LLC	LIBOR 1 M + 2.500%		2.625		08/15/25		482,804
	1,361,111	i	Clean Harbors, Inc	LIBOR 1 M + 1.750%		1.859		06/28/24		1,361,111
	2,552,858	i	Filtration Group Corp	LIBOR 1 M + 3.000%		3.109		03/28/25		2,513,927
	772,120	i	Filtration Group Corp	LIBOR 1 M + 3.750%		4.500		03/29/25		770,769
	1,391,257	i	GFL Environmental, Inc	LIBOR 1 M + 3.000%		3.500		05/30/25		1,391,257
	256,475	i	KAR Auction Services, Inc	LIBOR 1 M + 2.250%		2.375		09/19/26		251,025
	2,400,000	i	Maxar Technologies Ltd	LIBOR 1 M + 2.750%		2.870		10/05/24		2,369,256
	1,025,000	i	PAE Holding Corp	LIBOR 3 M + 4.500%		5.250		10/14/27		1,024,149
	1,462,500	h,i	Peraton Corp	LIBOR 1 M + 3.750%		4.500		02/01/28		1,461,286
	2,621,982	i	Prime Security Services Borrower LLC	LIBOR 1 and 3 M + 2.750%		3.500		09/23/26		2,609,685
	1,477,330	i	Sedgwick Claims Management Services, Inc	LIBOR 1 M + 3.250%		3.359		12/31/25		1,456,189
	1,845,000	h,i	Spin Holdco, Inc	LIBOR 3 M + 4.000%		4.750		03/01/28		1,827,860
	935,979	i	Syneos Health Inc	LIBOR 1 M + 1.750%		1.859		08/01/24		928,959
	1,298,812	i	Trans Union LLC	LIBOR 1 M + 1.750%		1.859		11/16/26		1,289,071
	2,000,000	i	West Corp	LIBOR 3 M + 4.000%		5.000		10/10/24		1,933,880
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES							23,811,523

CONSUMER DURABLES & APPAREL - 0.0%
	1,496,250	i	Great Outdoors Group LLC	LIBOR 3 M + 4.250%		5.000		03/06/28		1,496,998
	1,000,000	h,i	Hayward Industries, Inc	LIBOR 1 M + 3.500%		3.615		08/04/24		998,130
	1,074,317	i	Samsonite IP Holdings Sarl	LIBOR 1 M + 1.750%		1.859		04/25/25		1,055,968
			TOTAL CONSUMER DURABLES & APPAREL							3,551,096

160

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE

CONSUMER SERVICES - 0.2%
$	1,338,900	i	1011778 BC ULC	LIBOR 1 M + 1.750%		1.859	%	11/19/26	$	1,313,381
	1,375,000	i	AlixPartners LLP	LIBOR 1 M + 2.750%		3.250		02/04/28		1,369,074
	845,417	i	Boyd Gaming Corp	LIBOR 1 W + 2.250%		2.331		09/15/23		842,864
	358,200	i	Caesars Resort Collection LLC	LIBOR 1 M + 4.500%		4.609		07/21/25		358,648
	1,994,357	i	Golden Nugget LLC	LIBOR 2 M + 2.500%		3.250		10/04/23		1,960,952
	2,700,000	h,i	IRB Holding Corp	LIBOR 3 M + 3.250%		4.250		12/15/27		2,687,337
	388,531	i	KFC Holding Co	LIBOR 1 M + 1.750%		1.856		03/09/28		388,208
	325,603	i	KUEHG Corp	LIBOR 3 M + 3.750%		4.750		02/21/25		317,915
	1,995,000	i	Life Time, Inc	LIBOR 3 M + 4.750%		5.750		12/10/24		1,990,012
	1,894,904	i	Scientific Games International, Inc	LIBOR 1 M + 2.750%		2.859		08/14/24		1,856,873
	2,269,313	i	Sophia LP	LIBOR 3 M + 3.750%		4.500		10/07/27		2,266,476
	2,079,862	i	Sterling Midco Holdings, Inc	LIBOR 3 M + 3.500%		4.500		06/19/24		2,050,079
			TOTAL CONSUMER SERVICES							17,401,819

DIVERSIFIED FINANCIALS - 0.0%
	615,411	i	Lions Gate Capital Holdings LLC	LIBOR 1 M + 2.250%		2.359		03/24/25		605,152
	1,371,563	i	Reynolds Group Holdings, Inc	LIBOR 1 M + 3.250%		3.359		02/05/26		1,355,104
			TOTAL DIVERSIFIED FINANCIALS							1,960,256

ENERGY - 0.0%
	1,410,777	i	Buckeye Partners LP	LIBOR 1 M + 2.250%		2.359		11/01/26		1,403,426
	633,750	i	ChampionX Holding, Inc	LIBOR 3 M + 5.000%		6.000		06/03/27		644,841
	1,922,804	i	Delek US Holdings, Inc	LIBOR 1 M + 2.250%		2.359		03/31/25		1,864,159
			TOTAL ENERGY							3,912,426

FOOD, BEVERAGE & TOBACCO - 0.1%
	1,393,000	i	Chobani LLC	LIBOR 1 M + 3.500%		4.500		10/20/27		1,390,911
	148,875	i	Froneri US, Inc	LIBOR 1 M + 2.250%		2.359		01/29/27		146,724
	1,896,982	h,i	Hearthside Food Solutions LLC	LIBOR 1 M + 3.688%		3.796		05/23/25		1,876,836
	987,469	i	Hostess Brands LLC	LIBOR 1 and 3 M + 2.250%		3.000		08/01/25		981,435
	2,695,750	h,i	Shearer’s Foods LLC	LIBOR 3 M + 4.000%		4.250		09/23/27		2,688,579
	633,000	h,i	Triton Water Holdings, Inc	LIBOR 3 M + 3.500%		4.000		03/31/28		630,031
			TOTAL FOOD, BEVERAGE & TOBACCO							7,714,516

HEALTH CARE EQUIPMENT & SERVICES - 0.3%
	1,500,000	i	ADMI Corp	LIBOR 1 M + 3.250%		3.750		12/23/27		1,485,420
	999,840	i	Change Healthcare Holdings LLC	LIBOR 1 and 3 M + 2.500%		3.500		03/01/24		998,251
	2,307,936	i	Da Vinci Purchaser Corp	LIBOR 3 M + 4.000%		5.000		01/08/27		2,307,220
	1,231,289	i	DaVita, Inc	LIBOR 1 M + 1.750%		1.859		08/12/26		1,223,335
	725,766	i	Envision Healthcare Corp	LIBOR 1 M + 3.750%		3.859		10/10/25		624,464
	984,576	i	ExamWorks Group Inc	LIBOR 3 M + 3.250%		4.250		07/27/23		983,346
	1,290,700	i	Gentiva Health Services, Inc	LIBOR 1 M + 2.750%		2.875		07/02/25		1,281,561
	1,225,000	i	Global Medical Response, Inc	LIBOR 3 M + 4.750%		5.750		10/02/25		1,220,100
	214,416	i	Greatbatch Ltd	LIBOR 1 M + 2.500%		3.500		10/27/22		214,416
	2,049,063	i	Grifols Worldwide Operations USA, Inc	LIBOR 1 W + 2.000%		2.081		11/15/27		2,025,088
	1,430,878	h,i	National Mentor Holdings, Inc	LIBOR 3 M + 4.250%		4.400		03/08/26		1,420,590
	65,481	h,i	National Mentor Holdings, Inc	LIBOR 1 M + 4.250%		4.510		03/08/26		65,010

161

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE

$	605,883	i	NMN Holdings III Corp	LIBOR 1 M + 3.500%		3.609	%	11/13/25	$	599,824
	129,988	i	NMN Holdings III Corp	LIBOR 1 M + 3.500%		3.609		11/13/25		128,688
	1,925,000	i	Onex TSG Intermediate Corp	LIBOR 3 M + 4.750%		5.500		02/28/28		1,902,651
	997,500	i	Phoenix Guarantor, Inc	LIBOR 1 M + 3.750%		4.250		03/05/26		988,772
	3,009,493	i	RegionalCare Hospital Partners Holdings, Inc	LIBOR 1 M + 3.750%		3.850		11/16/25		3,000,886
	1,946,734	i	Select Medical Corp	LIBOR 1 M + 2.250%		2.360		03/06/25		1,933,165
	2,988,392	i	Surgery Center Holdings, Inc	LIBOR 1 M + 3.250%		4.250		09/03/24		2,956,177
			TOTAL HEALTH CARE EQUIPMENT & SERVICES							25,358,964

HOUSEHOLD & PERSONAL PRODUCTS - 0.0%
	675,000	i	Energizer Holdings, Inc	LIBOR 1 M + 2.250%		2.750		12/16/27		671,341
	1,000,000	i	Kronos Acquisition Holdings, Inc	LIBOR 3 M + 3.750%		4.250		12/22/26		984,640
	1,446,375	i	Weber-Stephen Products LLC	LIBOR 1 M + 3.250%		4.000		10/29/27		1,444,567
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS							3,100,548

INSURANCE - 0.1%
	1,365,210	i	Acrisure LLC	LIBOR 3 M + 3.500%		3.703		02/15/27		1,347,012
	99,346	i	Alliant Holdings Intermediate LLC	LIBOR 1 M + 3.750%		4.250		11/05/27		99,044
	1,937,651	i	Asurion LLC	LIBOR 1 M + 3.000%		3.109		11/03/24		1,928,874
	833,545	i	Asurion LLC	LIBOR 1 M + 3.250%		3.359		12/23/26		827,744
	1,485,000	i	HUB International Ltd	LIBOR 3 M + 3.250%		4.000		04/25/25		1,482,891
	1,987,874	i	NFP Corp	LIBOR 1 M + 3.250%		3.359		02/15/27		1,956,188
	1,974,425	i	USI, Inc	LIBOR 3 M + 3.000%		3.203		05/16/24		1,950,810
			TOTAL INSURANCE							9,592,563

MATERIALS - 0.2%
	1,922,810	i	Chemours Co	LIBOR 1 M + 1.750%		1.860		04/03/25		1,863,530
	813,600	i	H.B. Fuller Co	LIBOR 1 M + 2.000%		2.111		10/21/24		809,736
	775,000	i	Kloeckner Pentaplast of America, Inc	LIBOR 3 M + 4.750%		5.250		02/09/26		772,094
	188,922	i	MA FinanceCo LLC	LIBOR 1 M + 2.750%		2.859		06/21/24		186,876
	1,699,612	i	Messer Industries USA, Inc	LIBOR 3 M + 2.500%		2.703		03/01/26		1,684,537
	1,425,727	i	PQ Corp	LIBOR 3 M + 2.250%		2.462		02/07/27		1,413,851
	1,496,222	h,i	Quikrete Holdings, Inc	LIBOR 1 M + 2.500%		2.609		02/01/27		1,484,461
	304,076	i	Reynolds Consumer Products LLC	LIBOR 1 M + 1.750%		1.859		02/04/27		302,403
	2,970,590	h,i	Solenis International LP	LIBOR 3 M + 4.000%		4.190		06/26/25		2,958,381
	286,396	i	Starfruit US Holdco LLC	LIBOR 1 M + 2.750%		2.860		10/01/25		281,803
	1,461,414	h,i	Tamko Building Products, Inc	LIBOR 1 M + 3.000%		3.115		05/29/26		1,453,201
	1,000,000	i	Tank Holding Corp	LIBOR 2 and 3 M + 5.000%		5.750		03/26/26		1,001,670
	1,224,718	i	Tronox Finance LLC	LIBOR 3 M + 2.500%		2.607		03/02/28		1,217,320
	554,982	i	Univar USA, Inc	LIBOR 1 M + 2.250%		2.359		07/01/24		552,728
			TOTAL MATERIALS							15,982,591

MEDIA & ENTERTAINMENT - 0.3%
	947,625	i	Alliance Laundry Systems LLC	LIBOR 3 M + 3.500%		4.250		10/08/27		945,351
	2,000,000	i	Altice Financing S.A.	LIBOR 3 M + 2.750%		2.953		02/02/26		1,958,120
	997,500	i	Arches Buyer, Inc	LIBOR 1 M + 3.250%		3.750		12/06/27		989,520
	1,221,938	i	Arterra Wines Canada, Inc	LIBOR 3 M + 3.500%		4.250		11/19/27		1,221,424
	1,293,500	i	Asplundh Tree Expert LLC	LIBOR 1 M + 1.750%		1.859		09/02/27		1,289,257
	298,500	i	Banijay Group US Holding, Inc	LIBOR 1 M + 3.750%		3.854		03/04/25		295,017
	199,500	i	Cablevision Lightpath LLC	LIBOR 1 M + 3.250%		3.750		11/30/27		199,001
	148,137	i	Cirque Du Soleil Holding USA Newco, Inc	LIBOR 3 M + 6.000%		7.000		11/24/25		147,812
	131,552	i	Cirque Du Soleil Holding USA Newco, Inc	LIBOR 3 M + 1.000%		2.000		11/24/27		122,343

162

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE

$	600,000	i	CNT Holdings I Corp	LIBOR 3 M + 3.750%		4.500	%	11/08/27	$	598,314
	1,477,500	i	Diamond Sports Group LLC	LIBOR 1 M + 3.250%		3.360		08/24/26		1,008,394
	2,400,000	i	INEOS US Petrochem LLC	LIBOR 3 M + 2.750%		3.250		01/29/26		2,391,000
	800,000	i	Journey Personal Care Corp	LIBOR 3 M + 4.250%		5.000		03/01/28		800,336
	273,788	i	Nielsen Finance LLC	LIBOR 1 M + 2.000%		2.103		10/04/23		273,232
	1,799,833	i	Nielsen Finance LLC	LIBOR 1 M + 3.750%		4.750		06/06/25		1,802,929
	421,875	s	OneDigital Borrower LLC	LIBOR 3 M + 4.500%		5.250		10/29/27		421,525
	78,125		OneDigital Borrower LLC	LIBOR 3 M + 4.500%		5.250		10/29/27		78,060
	425,000	i	Park River Holdings, Inc	LIBOR 3 M + 3.250%		4.000		12/28/27		422,080
	149,625	i	Pluto Acquisition I, Inc	LIBOR 1 M + 5.000%		5.500		06/22/26		149,625
	740,625	i	Pregis TopCo Corp	LIBOR 1 M + 3.750%		3.859		07/31/26		733,989
	284,000	h,i	Pregis TopCo LLC	LIBOR 1 M + 4.250%		5.000		07/31/26		284,000
	284,000	i	Pregis TopCo LLC	LIBOR 1 M + 4.250%		5.000		07/31/26		284,000
	1,400,000	i	Rackspace Technology Global, Inc	LIBOR 3 M + 2.750%		3.500		02/03/28		1,386,434
	1,197,000	i	Radiate Holdco LLC	LIBOR 1 M + 3.500%		4.250		09/25/26		1,195,779
	1,884,266	i	Ryan Specialty Group LLC	LIBOR 1 M + 3.000%		4.000		09/01/27		1,881,119
	275,000	i	SkyMiles IP Ltd	LIBOR 3 M + 3.750%		4.750		10/20/27		288,475
	183,627	i,s	TricorBraun Holdings, Inc	LIBOR 3 M + 3.250%		3.750		03/03/28		181,713
	816,373	i	TricorBraun Holdings, Inc	LIBOR 3 M + 3.250%		3.750		03/03/28		807,867
	640,794	i	Univision Communications, Inc	LIBOR 1 M + 3.750%		4.750		03/15/26		639,704
	374,063	i	US Radiology Specialists, Inc	LIBOR 3 M + 5.500%		6.250		12/10/27		374,414
	1,708,219	i	Vertical US Newco, Inc	LIBOR 6 M + 4.250%		4.567		07/30/27		1,710,781
	950,000	i	Virgin Media Bristol LLC	LIBOR 1 M + 2.500%		2.606		01/31/28		940,719
	265,391	i	Wand NewCo 3, Inc	LIBOR 1 M + 3.000%		3.109		02/05/26		261,909
	1,400,000	i	Woof Holdings, Inc	LIBOR 3 M + 3.750%		4.500		12/21/27		1,393,000
	525,000	i	Zaxby’s Operating Co LP	LIBOR 1 M + 3.750%		4.500		12/09/27		524,081
			TOTAL MEDIA & ENTERTAINMENT							28,001,324

PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.2%
	603,125	i	Alphabet Holding Co, Inc	LIBOR 1 M + 3.500%		3.609		09/26/24		597,944
	977,547	i	Auris Luxembourg III Sarl	LIBOR 1 M + 3.750%		3.859		02/27/26		946,998
	623,438	i	Avantor, Inc	LIBOR 1 M + 2.250%		3.250		10/29/27		623,126
	1,934,806	i	Bausch Health Americas, Inc	LIBOR 1 M + 3.000%		3.109		06/02/25		1,927,473
	1,221,429	i	Bausch Health Americas, Inc	LIBOR 1 M + 2.750%		2.859		11/27/25		1,213,648
	1,984,848	i	Catalent Pharma Solutions, Inc	LIBOR 1 M + 2.000%		2.500		02/22/28		1,984,015
	1,677,963	i	Endo International PLC	LIBOR 3 M + 4.250%		5.000		04/29/24		1,659,086
	1,009,137	h,i	Endo Luxembourg Finance Co I Sarl	LIBOR 1 M + 5.000%		5.750		03/10/28		997,784
	1,277,545	i	Horizon Therapeutics USA, Inc	LIBOR 1 M + 2.000%		2.125		05/22/26		1,272,358
	1,456,005	i	PAREXEL International Corp	LIBOR 1 M + 2.750%		2.865		09/27/24		1,438,038
	1,104,106	i	PPD, Inc	LIBOR 1 M + 2.250%		2.750		01/13/28		1,097,603
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES							13,758,073

REAL ESTATE - 0.0%
	1,709,609	i	Cushman & Wakefield plc	LIBOR 1 M + 2.750%		2.865		08/21/25		1,672,921
			TOTAL REAL ESTATE							1,672,921

RETAILING - 0.1%
	1,792,114	i	Hillman Group, Inc	LIBOR 1 M + 4.000%		4.147		05/31/25		1,789,032
	450,000	i	LS GROUP OPCO ACQUISITIO	LIBOR 3 M + 3.500%		4.250		11/02/27		449,626
	1,600,000	i	Resideo Funding, Inc	LIBOR 3 M + 2.250%		2.750		02/09/28		1,594,000
	975,094	i	Staples, Inc	LIBOR 3 M + 5.000%		5.205		04/16/26		949,908
			TOTAL RETAILING							4,782,566

163

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE

SOFTWARE & SERVICES - 0.1%
$	500,000	i	Avaya Holdings Corp	LIBOR 1 M + 4.250%		4.356	%	12/15/27	$	499,920
	994,987	i	BY Crown Parent LLC	LIBOR 1 M + 3.000%		4.000		01/31/26		994,052
	793,731	i	Camelot Finance S.A.	LIBOR 1 M + 3.000%		3.109		10/30/26		787,032
	997,500	i	Camelot US Acquisition	LIBOR 1 M + 3.000%		4.000		10/31/26		996,503
	668,263	i	Dun & Bradstreet Corp	LIBOR 1 M + 3.250%		3.359		02/06/26		664,086
	1,591,837	i	Hyland Software, Inc	LIBOR 1 M + 3.500%		4.250		07/01/24		1,589,353
	1,994,962	i	Informatica LLC	LIBOR 1 M + 3.250%		3.371		02/14/27		1,978,005
	68,912	i	IQVIA, Inc	LIBOR 1 M + 1.750%		1.859		03/07/24		68,533
	411,296	i	NeuStar, Inc	LIBOR 3 M + 3.500%		4.500		08/08/24		390,953
	475,000	h,i	RealPage, Inc	LIBOR 3 M + 3.250%		3.750		02/18/28		472,559
	913,350	i	Rocket Software, Inc	LIBOR 1 M + 4.250%		4.359		11/28/25		910,382
			TOTAL SOFTWARE & SERVICES							9,351,378

TECHNOLOGY HARDWARE & EQUIPMENT - 0.1%
	2,181,386	i	Dell International LLC	LIBOR 1 M + 1.750%		2.000		09/19/25		2,178,463
	108,779	i	MTS Systems Corp	LIBOR 1 M + 3.250%		4.000		07/05/23		108,643
	835,030	i	Plantronics, Inc	LIBOR 1 M + 2.500%		2.615		07/02/25		823,106
	755,472	i	TTM Technologies, Inc	LIBOR 1 M + 2.500%		2.615		09/28/24		751,695
	551,149	i	Western Digital Corp	LIBOR 1 M + 1.750%		1.865		04/29/23		550,234
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT							4,412,141

TELECOMMUNICATION SERVICES - 0.1%
	1,865,578	i	CommScope, Inc	LIBOR 1 M + 3.250%		3.359		04/06/26		1,851,679
	2,000,000	i	SFR Group S.A.	LIBOR 1 M + 3.688%		3.800		01/31/26		1,979,580
	623,553	i	Zayo Group Holdings, Inc	LIBOR 1 M + 3.000%		3.115		03/09/27		618,084
			TOTAL TELECOMMUNICATION SERVICES							4,449,343

TRANSPORTATION - 0.1%
	1,454,545	i	American Airlines, Inc	LIBOR 1 M + 2.000%		2.106		12/14/23		1,387,884
	750,000	h,i	American Airlines, Inc	LIBOR 3 M + 4.750%		5.500		03/24/28		767,580
	315,570	i	Avis Budget Car Rental LLC	LIBOR 1 M + 2.250%		2.360		08/06/27		307,337
	1,000,000	h,i	Kenan Advantage Group, Inc	LIBOR 1 M + 3.750%		4.500		03/24/26		992,810
	550,000	i	Mileage Plus Holdings LLC	LIBOR 3 M + 5.250%		6.250		06/18/27		583,775
	2,000,000	i	XPO Logistics, Inc	LIBOR 1 M + 1.750%		1.865		02/24/25		1,985,900
			TOTAL TRANSPORTATION							6,025,286

UTILITIES - 0.1%
	373,120	i	Alera Group Intermediate Holdings, Inc	LIBOR 1 M + 4.000%		4.500		08/01/25		372,654
	990,000	i	AssuredPartners, Inc	LIBOR 1 M + 4.500%		5.500		02/12/27		989,752
	930,552	i	Calpine Corp	LIBOR 1 M + 2.500%		2.610		12/02/27		924,076
	2,054,000	i	First Eagle Holdings, Inc	LIBOR 3 M + 2.500%		2.703		02/02/27		2,024,895
	1,970,203	i	Gopher Resource LLC	LIBOR 1 M + 3.250%		4.250		03/06/25		1,758,406
	478,026	i	ProQuest LLC	LIBOR 1 M + 3.250%		3.359		10/23/26		474,680
	1,275,839	i	Seattle SpinCo, Inc	LIBOR 1 M + 2.750%		2.859		06/21/24		1,262,022
	812,250	i	Talen Energy Supply LLC	LIBOR 1 M + 3.750%		3.859		06/26/26		787,882
	2,147,125	h,i	Utz Quality Foods LLC	LIBOR 1 M + 3.000%		3.109		01/20/28		2,142,208
	910,006	i	Vistra Operations Co LLC	LIBOR 1 M + 1.750%		1.858		12/31/25		902,935
			TOTAL UTILITIES							11,639,510

			TOTAL BANK LOAN OBLIGATIONS							208,193,382
			(Cost $209,412,677)

164

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE

BONDS - 95.2%

CORPORATE BONDS - 40.1%

AUTOMOBILES & COMPONENTS - 0.5%
$	4,500,000	g	Adient Global Holdings Ltd		4.875	%	08/15/26	$	4,651,110
	200,000	g	Adient US LLC		9.000		04/15/25		222,000
	1,875,000	g	Allison Transmission, Inc		3.750		01/30/31		1,816,406
	450,000	g	Dana Financing Luxembourg SARL		6.500		06/01/26		466,875
	225,000		Dana, Inc		5.375		11/15/27		236,250
	225,000		Dana, Inc		5.625		06/15/28		240,750
	750,000		Ford Motor Co		8.500		04/21/23		836,250
	775,000		Ford Motor Co		9.000		04/22/25		938,614
	4,900,000	g	Gates Global LLC		6.250		01/15/26		5,132,750
	5,550,000		General Motors Co		6.125		10/01/25		6,526,292
	1,400,000		General Motors Co		5.000		10/01/28		1,604,412
	1,700,000		General Motors Co		6.600		04/01/36		2,206,489
	5,050,000		General Motors Co		5.200		04/01/45		5,798,457
	475,000		General Motors Co		6.750		04/01/46		641,171
	5,000,000		Goodyear Tire & Rubber Co		5.250		04/30/31		5,000,000
	1,000,000	g,o	IHO Verwaltungs GmbH		6.375		05/15/29		1,092,500
	1,750,000		Magna International, Inc		3.625		06/15/24		1,892,082
			TOTAL AUTOMOBILES & COMPONENTS						39,302,408

BANKS - 8.4%
	2,000,000	g	Akbank T.A.S.		6.800		02/06/26		1,991,466
	1,900,000	g	Akbank T.A.S.		7.200		03/16/27		1,828,815
	4,100,000	g	Australia & New Zealand Banking Group Ltd		2.950		07/22/30		4,237,391
	10,000,000	g	Australia & New Zealand Banking Group Ltd		6.750		N/A‡		11,665,500
	3,000,000		Banco Bilbao Vizcaya Argentaria S.A.		6.500		N/A‡		3,244,800
	2,000,000	g	Banco de Bogota S.A.		4.375		08/03/27		2,116,020
	2,100,000	g	Banco de Credito del Peru		2.700		01/11/25		2,161,950
	1,650,000	g	Banco de Credito del Peru		3.250		09/30/31		1,650,000
	2,375,000	g	Banco del Estado de Chile		2.704		01/09/25		2,475,682
	1,725,000	g	Banco Industrial S.A.		4.875		01/29/31		1,777,095
	2,000,000	g	Banco Internacional del Peru SAA Interbank		3.375		01/18/23		2,065,000
	3,300,000	g	Banco Internacional del Peru SAA Interbank		4.000		07/08/30		3,364,762
	3,650,000	g	Banco Santander Mexico S.A. Institucion de Banca Multiple Grupo Financiero Santand		5.375		04/17/25		4,098,220
	1,000,000		Banco Santander S.A.		2.746		05/28/25		1,044,829
	4,200,000		Banco Santander S.A.		3.800		02/23/28		4,532,338
	2,800,000		Banco Santander S.A.		2.749		12/03/30		2,667,069
	3,000,000		Banco Santander S.A.		7.500		N/A‡		3,296,250
	3,700,000		Bancolombia S.A.		3.000		01/29/25		3,779,550
	1,325,000		Bancolombia S.A.		4.625		12/18/29		1,339,906
	3,000,000	g	Bangkok Bank PCL		5.000		N/A‡		3,153,750
	2,000,000	g	Banistmo S.A.		4.250		07/31/27		2,085,000
	8,000,000	g	Bank Leumi Le-Israel BM		3.275		01/29/31		8,120,000
	10,000,000		Bank of America Corp		4.000		01/22/25		10,951,100
	20,300,000		Bank of America Corp		2.456		10/22/25		21,278,257
	1,000,000		Bank of America Corp		4.450		03/03/26		1,124,017
	6,800,000		Bank of America Corp		3.248		10/21/27		7,310,567

165

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE

$	15,850,000		Bank of America Corp		3.824	%	01/20/28	$	17,412,999
	16,950,000		Bank of America Corp		2.496		02/13/31		16,793,941
	10,600,000		Bank of America Corp		2.592		04/29/31		10,577,870
	10,000,000		Bank of America Corp		1.898		07/23/31		9,393,393
	25,000,000		Bank of America Corp		1.922		10/24/31		23,526,642
	5,000,000		Bank of America Corp		4.083		03/20/51		5,551,535
	3,775,000		Bank of America Corp		3.483		03/13/52		3,846,674
	12,900,000		Bank of America Corp		6.100		N/A‡		14,319,000
	5,000,000		Bank of America Corp		6.250		N/A‡		5,534,000
	3,750,000		Bank of Montreal		3.803		12/15/32		4,119,234
	2,100,000		Barclays plc		4.338		05/16/24		2,248,641
	7,000,000		Barclays plc		3.932		05/07/25		7,555,533
	5,000,000		Barclays plc		7.750		N/A‡		5,456,000
	5,550,000	g	BNP Paribas S.A.		2.819		11/19/25		5,842,243
	875,000	g	BNP Paribas S.A.		2.219		06/09/26		897,240
	3,600,000	g	BNP Paribas S.A.		1.323		01/13/27		3,520,770
	3,575,000	g	BNP Paribas S.A.		1.904		09/30/28		3,513,905
	2,800,000	g	BNP Paribas S.A.		2.588		08/12/35		2,633,403
	5,750,000		Citigroup, Inc		3.875		03/26/25		6,265,905
	4,025,000		Citigroup, Inc		3.200		10/21/26		4,325,177
	2,200,000		Citigroup, Inc		4.300		11/20/26		2,454,041
	5,975,000		Citigroup, Inc		4.450		09/29/27		6,743,304
	2,975,000		Citigroup, Inc		4.125		07/25/28		3,292,212
	32,075,000		Citigroup, Inc		2.666		01/29/31		32,226,594
	5,550,000		Citigroup, Inc		4.412		03/31/31		6,333,727
	3,600,000		Citigroup, Inc		2.572		06/03/31		3,597,185
	4,000,000		Citigroup, Inc		6.300		N/A‡		4,249,240
	5,000,000		Citigroup, Inc		5.000		N/A‡		5,151,500
	4,775,000		Cooperatieve Rabobank UA		3.750		07/21/26		5,207,644
	2,350,000	g	Credicorp Ltd		2.750		06/17/25		2,394,650
	5,200,000	g	Credit Agricole S.A.		1.247		01/26/27		5,085,853
	315,000	g	Danske Bank AS		5.375		01/12/24		351,253
	1,525,000	g	DBS Group Holdings Ltd		4.520		12/11/28		1,651,606
	1,000,000		Discover Bank		3.200		08/09/21		1,007,550
	4,200,000		Discover Bank		2.450		09/12/24		4,396,310
	5,400,000		Discover Bank		3.450		07/27/26		5,843,733
	2,275,000		Discover Bank		2.700		02/06/30		2,290,423
	807,000		Fifth Third Bancorp		3.500		03/15/22		828,940
	850,000	g	Grupo Aval Ltd		4.750		09/26/22		886,984
	1,675,000	g	Grupo Aval Ltd		4.375		02/04/30		1,689,656
	1,650,000		HSBC Holdings plc		2.633		11/07/25		1,724,426
	3,025,000		HSBC Holdings plc		1.645		04/18/26		3,026,856
	625,000		HSBC Holdings plc		3.900		05/25/26		689,150
	15,640,000		HSBC Holdings plc		4.292		09/12/26		17,311,022
	750,000		HSBC Holdings plc		4.375		11/23/26		835,344
	2,025,000		HSBC Holdings plc		4.041		03/13/28		2,216,874
	900,000		HSBC Holdings plc		2.013		09/22/28		884,391
	2,275,000		HSBC Holdings plc		4.950		03/31/30		2,656,246
	3,850,000		HSBC Holdings plc		3.973		05/22/30		4,166,106
	2,000,000		HSBC Holdings plc		2.357		08/18/31		1,924,753
	590,000		HSBC Holdings plc		6.800		06/01/38		809,172
	10,250,000		HSBC Holdings plc		6.000		N/A‡		11,221,188
	360,000		Huntington Bancshares, Inc		4.000		05/15/25		398,941
	4,100,000		Huntington National Bank		2.500		08/07/22		4,210,557

166

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE

$	2,875,000	g	ICICI Bank Ltd		3.800	%	12/14/27	$	3,040,719
	6,775,000	g	ING Groep NV		1.400		07/01/26		6,740,041
	400,000		ING Groep NV		3.950		03/29/27		443,245
	3,000,000	g	Intercorp Financial Services, Inc		4.125		10/19/27		3,151,500
	2,000,000	g	Itau Unibanco Holding S.A.		3.875		04/15/31		1,940,000
	9,400,000		JPMorgan Chase & Co		2.301		10/15/25		9,784,796
	2,500,000		JPMorgan Chase & Co		3.200		06/15/26		2,702,600
	13,000,000		JPMorgan Chase & Co		4.203		07/23/29		14,706,680
	19,405,000		JPMorgan Chase & Co		3.702		05/06/30		21,150,630
	18,950,000		JPMorgan Chase & Co		2.739		10/15/30		19,259,265
	11,680,000		JPMorgan Chase & Co		2.522		04/22/31		11,655,405
	4,600,000		JPMorgan Chase & Co		2.956		05/13/31		4,685,060
	12,125,000		JPMorgan Chase & Co		1.953		02/04/32		11,491,614
	700,000		JPMorgan Chase & Co		4.260		02/22/48		812,738
	6,535,000		JPMorgan Chase & Co		5.000		N/A‡		6,755,556
	16,000,000		JPMorgan Chase & Co		6.100		N/A‡		17,224,000
	775,000	g	Kookmin Bank		2.500		11/04/30		750,086
	10,800,000		Lloyds Banking Group plc		7.500		N/A‡		12,339,000
	7,200,000		Mitsubishi UFJ Financial Group, Inc		2.193		02/25/25		7,426,794
	3,500,000	g,h	Mizrahi Tefahot Bank Ltd		3.077		04/07/31		3,495,695
	1,550,000		MUFG Americas Holdings Corp		3.500		06/18/22		1,607,161
	7,210,000		Natwest Group plc		3.032		11/28/35		6,878,917
	3,000,000		Natwest Group plc		8.000		N/A‡		3,517,500
	2,335,000	g	Oversea-Chinese Banking Corp Ltd		1.832		09/10/30		2,313,658
	5,050,000		PNC Bank NA		2.700		10/22/29		5,161,529
	1,500,000		PNC Financial Services Group, Inc		3.900		04/29/24		1,636,859
	5,100,000		Royal Bank of Canada		2.550		07/16/24		5,378,582
	5,000,000		Royal Bank of Scotland Group plc		3.498		05/15/23		5,153,941
	3,250,000		Royal Bank of Scotland Group plc		3.073		05/22/28		3,381,748
	3,125,000		Santander Holdings USA, Inc		3.400		01/18/23		3,262,674
	2,500,000	g	Sovcombank Via SovCom Capital DAC		3.400		01/26/25		2,469,343
	6,500,000		Sumitomo Mitsui Financial Group, Inc		2.696		07/16/24		6,872,003
	5,550,000		Toronto-Dominion Bank		1.150		06/12/25		5,552,632
	1,300,000		Toronto-Dominion Bank		3.625		09/15/31		1,424,773
	570,000		Truist Bank		2.450		08/01/22		585,226
	1,075,000		Truist Bank		2.750		05/01/23		1,125,668
	10,000,000		Truist Bank		3.689		08/02/24		10,686,170
	2,125,000		Truist Bank		1.500		03/10/25		2,158,958
	5,000,000		Truist Financial Corp		4.950		N/A‡		5,418,750
	9,800,000		Truist Financial Corp		4.800		N/A‡		10,275,986
	1,500,000	g	Turkiye Garanti Bankasi AS.		6.125		05/24/27		1,440,240
	2,500,000	e,g	Turkiye Vakiflar Bankasi TAO		6.500		01/08/26		2,394,273
	2,900,000	g	UBS Group AG.		2.095		02/11/32		2,743,157
	2,000,000		UniCredit SpA		8.000		N/A‡		2,230,000
	1,400,000	g	United Overseas Bank Ltd		3.750		04/15/29		1,496,824
	3,650,000		Wells Fargo & Co		3.750		01/24/24		3,946,984
	3,425,000		Wells Fargo & Co		3.550		09/29/25		3,733,250
	10,475,000		Wells Fargo & Co		2.393		06/02/28		10,735,763
	6,050,000		Wells Fargo & Co		2.879		10/30/30		6,232,176
	8,500,000		Wells Fargo & Co		5.875		N/A‡		9,358,500
	6,000,000		Wells Fargo & Co		5.900		N/A‡		6,376,500
	15,000,000		Wells Fargo & Co		3.900		N/A‡		15,148,500
	3,875,000		Westpac Banking Corp		4.110		07/24/34		4,137,764
			TOTAL BANKS						728,842,303

167

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE

CAPITAL GOODS - 1.3%
$	1,500,000	g	Adaro Indonesia PT		4.250	%	10/31/24	$	1,515,000
	1,354,000		Air Lease Corp		3.000		02/01/30		1,325,170
	5,000,000		Air Lease Corp		3.125		12/01/30		4,985,177
	2,125,000	g	BAE Systems plc		3.400		04/15/30		2,255,602
	1,325,000	g	BAE Systems plc		1.900		02/15/31		1,243,313
	500,000	g	Beacon Escrow Corp		4.875		11/01/25		511,250
	200,000	g	Beacon Roofing Supply, Inc		4.500		11/15/26		205,500
	2,000,000	g	BOC Aviation Ltd		3.000		09/11/29		1,994,761
	17,400,000		Boeing Co		2.196		02/04/26		17,346,042
	6,900,000		Boeing Co		2.950		02/01/30		6,880,797
	1,825,000		Boeing Co		3.250		02/01/35		1,768,640
	4,325,000	g	DAE Funding LLC		3.375		03/20/28		4,289,330
	232,000		General Electric Co		6.875		01/10/39		326,275
	3,075,000	g	H&E Equipment Services, Inc		3.875		12/15/28		2,990,438
	975,000	g	Hidrovias International Finance SARL		4.950		02/08/31		975,000
	200,000		Howmet Aerospace, Inc		6.875		05/01/25		231,750
	500,000	e	Ingersoll-Rand Global Holding Co Ltd		3.750		08/21/28		548,395
	6,655,000		Ingersoll-Rand Luxembourg Finance S.A.		3.800		03/21/29		7,301,050
	1,100,000		L3Harris Technologies, Inc		3.850		06/15/23		1,173,556
	850,000		Lockheed Martin Corp		1.850		06/15/30		827,700
	1,100,000		Lockheed Martin Corp		2.800		06/15/50		1,037,463
	2,503,000	g	Molex Electronic Technologies LLC		3.900		04/15/25		2,549,140
	5,775,000		Northrop Grumman Corp		3.250		01/15/28		6,195,073
	10,825,000		Parker-Hannifin Corp		3.250		06/14/29		11,569,533
	3,300,000		Raytheon Technologies Corp		2.250		07/01/30		3,247,696
	325,000	g	Rolls-Royce plc		5.750		10/15/27		345,816
	3,100,000		Roper Technologies, Inc		1.400		09/15/27		2,995,090
	1,800,000		Roper Technologies, Inc		2.950		09/15/29		1,874,502
	3,550,000		Roper Technologies, Inc		2.000		06/30/30		3,391,852
	3,000,000	g	TSMC Global Ltd		0.750		09/28/25		2,928,918
	2,000,000	g	TSMC Global Ltd		1.000		09/28/27		1,921,927
	1,400,000	g	Tupy Overseas S.A.		4.500		02/16/31		1,358,014
	248,000		United Technologies Corp		3.650		08/16/23		265,307
	6,975,000		United Technologies Corp		4.125		11/16/28		7,854,781
	5,000,000		United Technologies Corp		4.500		06/01/42		5,962,478
	575,000	g	WESCO Distribution, Inc		7.125		06/15/25		628,763
	425,000	g	WESCO Distribution, Inc		7.250		06/15/28		474,468
			TOTAL CAPITAL GOODS						113,295,567

COMMERCIAL & PROFESSIONAL SERVICES - 0.4%
	500,000		ADT Corp		4.125		06/15/23		519,375
	3,900,000	g	ADT Corp		4.875		07/15/32		3,963,375
	1,000,000		AECOM		5.125		03/15/27		1,088,125
	325,000	g	ASGN, Inc		4.625		05/15/28		335,296
	1,912,889	g	British Airways		3.800		09/20/31		1,993,311
	150,000	g	GFL Environmental, Inc		4.250		06/01/25		154,500
	1,000,000	g	GFL Environmental, Inc		3.750		08/01/25		1,015,000
	125,000	g	GFL Environmental, Inc		5.125		12/15/26		131,719
	3,150,000	g	GFL Environmental, Inc		3.500		09/01/28		3,055,500
	850,000		IHS Markit Ltd		4.125		08/01/23		910,869
	1,375,000		IHS Markit Ltd		4.250		05/01/29		1,548,841

168

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE

$	1,500,000	g,i	Nakama Re Ltd	LIBOR 6 M + 2.200%		2.200	%	10/13/21	$	1,501,650
	125,000	g,h	NESCO Holdings II, Inc			5.500		04/15/29		128,225
	2,125,000	g	Prime Security Services Borrower LLC			5.750		04/15/26		2,299,356
	1,300,000	g	Prime Security Services Borrower LLC			3.375		08/31/27		1,261,000
	2,655,000	g	Prime Security Services Borrower LLC			6.250		01/15/28		2,763,828
	2,225,000		Republic Services, Inc			2.900		07/01/26		2,372,809
	100,000	g	Ritchie Bros Auctioneers, Inc			5.375		01/15/25		102,885
	1,150,000	g	Stericycle, Inc			3.875		01/15/29		1,135,625
	1,000,000		United Rentals North America, Inc			5.875		09/15/26		1,046,250
	880,000		Verisk Analytics, Inc			4.125		03/15/29		977,903
	525,000		Verisk Analytics, Inc			3.625		05/15/50		516,090
	1,800,000		Waste Management, Inc			2.900		09/15/22		1,855,015
	550,000		Waste Management, Inc			4.100		03/01/45		620,941
	1,500,000		Waste Management, Inc			2.500		11/15/50		1,295,540
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES							32,593,028

CONSUMER DURABLES & APPAREL - 0.1%
	750,000		Leggett & Platt, Inc			4.400		03/15/29		838,099
	5,000,000		Lennar Corp			4.750		11/29/27		5,740,600
	275,000	g	Mattel, Inc			3.375		04/01/26		283,921
	219,000		Newell Brands, Inc			4.875		06/01/25		241,721
	5,000,000		PulteGroup, Inc			5.000		01/15/27		5,750,000
			TOTAL CONSUMER DURABLES & APPAREL							12,854,341

CONSUMER SERVICES - 0.5%
	16,500,000		Anheuser-Busch Cos LLC			3.650		02/01/26		18,141,581
	5,500,000		Anheuser-Busch Cos LLC			4.900		02/01/46		6,569,991
	750,000	g	Arcos Dorados Holdings, Inc			5.875		04/04/27		790,320
	1,100,000	g	Cedar Fair LP			5.500		05/01/25		1,157,794
	2,300,000	g	ENA Master Trust			4.000		05/19/48		2,334,500
	125,000	g	Hilton Domestic Operating Co, Inc			5.375		05/01/25		131,750
	125,000	g	Hilton Domestic Operating Co, Inc			5.750		05/01/28		134,534
	3,700,000	g	Hilton Domestic Operating Co, Inc			3.625		02/15/32		3,591,220
	400,000	g	International Game Technology plc			4.125		04/15/26		411,032
	540,000	g	International Game Technology plc			6.250		01/15/27		598,290
	1,550,000	g	Melco Resorts Finance Ltd			5.750		07/21/28		1,650,750
	950,000	g	MGM China Holdings Ltd			5.250		06/18/25		986,812
	1,400,000	g	MGM China Holdings Ltd			4.750		02/01/27		1,419,250
	1,400,000		Sands China Ltd			5.400		08/08/28		1,599,416
	475,000	g	Studio City Finance Ltd			5.000		01/15/29		476,757
	1,250,000	g	Wynn Macau Ltd			5.500		01/15/26		1,304,688
	475,000	g	Wynn Macau Ltd			5.625		08/26/28		496,518
	100,000	g	Yum! Brands, Inc			7.750		04/01/25		109,375
			TOTAL CONSUMER SERVICES							41,904,578

DIVERSIFIED FINANCIALS - 3.4%
	3,550,000		AerCap Ireland Capital DAC			1.750		01/30/26		3,447,988
	4,100,000		AerCap Ireland Capital DAC			3.650		07/21/27		4,302,239
	1,500,000		AerCap Ireland Capital DAC			4.625		10/15/27		1,645,429
	1,775,000		American Express Co			2.500		08/01/22		1,822,773
	710,000		American Express Co			2.650		12/02/22		736,463
	1,250,000		American Express Co			3.700		08/03/23		1,337,918
	2,000,000		American Express Credit Corp			3.300		05/03/27		2,188,132

169

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE

$	2,000,000	g	Banco BTG Pactual S.A.		4.500	%	01/10/25	$	2,043,800
	4,000,000	g	Banco BTG Pactual S.A.		2.750		01/11/26		3,784,000
	1,405,000		Bank of New York Mellon Corp		4.700		N/A‡		1,522,247
	455,000	g	BBVA Bancomer S.A.		5.350		11/12/29		468,081
	2,850,000	g	BBVA Bancomer S.A.		5.125		01/18/33		2,931,966
	1,740,000		Berkshire Hathaway, Inc		3.125		03/15/26		1,894,285
	2,600,000	g	BPCE S.A.		4.625		07/11/24		2,867,984
	7,868,000		Capital One Bank USA NA		3.375		02/15/23		8,264,471
	2,490,000		Capital One Financial Corp		3.750		03/09/27		2,733,386
	8,000,000		Charles Schwab Corp		4.000		N/A‡		8,118,400
	600,000	g	Compass Group Diversified Holdings LLC		5.250		04/15/29		629,058
	2,500,000	g	Credit Suisse Group AG.		2.997		12/14/23		2,584,493
	5,750,000	g	Credit Suisse Group AG.		2.193		06/05/26		5,843,493
	4,950,000	g	Credit Suisse Group AG.		1.305		02/02/27		4,791,275
	5,725,000	g	Credit Suisse Group AG.		4.194		04/01/31		6,227,792
	3,950,000		Credit Suisse Group Funding Guernsey Ltd		3.800		06/09/23		4,191,267
	1,650,000		Credit Suisse Group Funding Guernsey Ltd		3.750		03/26/25		1,777,868
	2,250,000		Deutsche Bank AG.		6.000		N/A‡		2,278,125
	545,000		Discover Financial Services		5.200		04/27/22		571,297
	2,075,000		Ford Motor Credit Co LLC		3.096		05/04/23		2,108,719
	5,000,000		Ford Motor Credit Co LLC		3.664		09/08/24		5,175,025
	1,400,000		Ford Motor Credit Co LLC		4.000		11/13/30		1,388,786
	7,700,000		GE Capital International Funding Co		3.373		11/15/25		8,349,072
	16,705,000		GE Capital International Funding Co		4.418		11/15/35		19,123,216
	2,650,000		General Motors Financial Co, Inc		2.750		06/20/25		2,766,343
	8,625,000		General Motors Financial Co, Inc		5.650		01/17/29		10,231,484
	10,550,000		General Motors Financial Co, Inc		3.600		06/21/30		11,128,412
	5,450,000		General Motors Financial Co, Inc		5.700		N/A‡		5,886,000
	5,000,000		Goldman Sachs Group, Inc		3.625		02/20/24		5,380,750
	4,650,000		Goldman Sachs Group, Inc		3.500		01/23/25		5,018,049
	13,800,000		Goldman Sachs Group, Inc		1.093		12/09/26		13,522,508
	6,050,000		Goldman Sachs Group, Inc		1.431		03/09/27		5,995,829
	13,900,000		Goldman Sachs Group, Inc		3.691		06/05/28		15,208,863
	360,000		Goldman Sachs Group, Inc		6.750		10/01/37		508,904
	1,900,000		Goldman Sachs Group, Inc		4.017		10/31/38		2,106,929
	600,000		Goldman Sachs Group, Inc		4.800		07/08/44		737,084
	3,000,000		Goldman Sachs Group, Inc		4.950		N/A‡		3,173,400
	500,000		Icahn Enterprises LP		4.750		09/15/24		519,217
	925,000		Icahn Enterprises LP		5.250		05/15/27		955,062
	3,800,000	g	Icahn Enterprises LP		4.375		02/01/29		3,713,398
	1,100,000	g	Indian Railway Finance Corp Ltd		3.249		02/13/30		1,093,265
	7,400,000	g	Indian Railway Finance Corp Ltd		2.800		02/10/31		7,018,340
	1,900,000		International Lease Finance Corp		5.875		08/15/22		2,031,750
	2,400,000	g	Inversiones CMPC S.A.		3.000		04/06/31		2,382,552
	2,500,000	g	Jefferies Finance LLC		6.250		06/03/26		2,625,000
	475,000		Legg Mason, Inc		3.950		07/15/24		522,346
	3,425,000	g	LPL Holdings, Inc		4.000		03/15/29		3,450,688
	2,500,000	g	Minejesa Capital BV		5.625		08/10/37		2,615,625
	1,040,000		Morgan Stanley		4.000		07/23/25		1,154,145
	9,700,000		Morgan Stanley		2.188		04/28/26		10,022,353
	14,325,000		Morgan Stanley		3.125		07/27/26		15,417,711
	100,000		Morgan Stanley		3.625		01/20/27		109,725
	685,000		Morgan Stanley		3.950		04/23/27		758,004

170

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE

$	16,500,000		Morgan Stanley		2.699	%	01/22/31	$	16,789,219
	2,475,000	g	Power Finance Corp Ltd		3.950		04/23/30		2,527,297
	775,000	g	Quicken Loans, Inc		5.250		01/15/28		813,750
	1,125,000	g	REC Ltd		4.750		05/19/23		1,192,722
	1,950,000		SLM Corp		5.500		01/25/23		2,023,125
	550,000		Springleaf Finance Corp		5.375		11/15/29		585,063
	550,000		State Street Corp		3.300		12/16/24		599,736
	8,100,000	g	Swiss Re Finance Luxembourg SA		5.000		04/02/49		9,170,820
	1,950,000		Synchrony Financial		4.375		03/19/24		2,125,882
	2,850,000		Synchrony Financial		4.250		08/15/24		3,100,251
	5,075,000	g	UBS Group AG		2.859		08/15/23		5,231,997
	3,000,000	g	UBS Group AG		7.000		N/A‡		3,295,170
	650,000		Voya Financial, Inc		5.700		07/15/43		840,635
			TOTAL DIVERSIFIED FINANCIALS						299,498,451

ENERGY - 3.9%
	1,450,000	g	Abu Dhabi Crude Oil Pipeline LLC		4.600		11/02/47		1,635,049
	1,075,000		AmeriGas Partners LP		5.875		08/20/26		1,182,930
	1,875,000	g	Archrock Partners LP		6.250		04/01/28		1,904,625
	1,900,000		Calumet Specialty Products Partners LP		7.750		04/15/23		1,885,959
	5,000,000		Canadian Natural Resources Ltd		2.950		07/15/30		4,987,067
	4,500,000		Cenovus Energy, Inc		5.375		07/15/25		5,057,165
	7,900,000		Cenovus Energy, Inc		4.250		04/15/27		8,543,965
	600,000	g	Chesapeake Energy Corp		5.500		02/01/26		624,537
	565,000		Chevron Corp		2.355		12/05/22		581,482
	5,550,000		Chevron Corp		1.554		05/11/25		5,663,241
	2,525,000		Chevron Corp		2.236		05/11/30		2,512,315
	5,875,000	g	ConocoPhillips		2.400		02/15/31		5,796,896
	2,500,000	g	Cosan Ltd		5.500		09/20/29		2,646,250
	1,125,000		Crestwood Midstream Partners LP		5.750		04/01/25		1,131,210
	5,075,000		Diamondback Energy, Inc		2.875		12/01/24		5,351,788
	3,750,000		Diamondback Energy, Inc		3.125		03/24/31		3,743,796
	5,000,000		Ecopetrol S.A.		5.375		06/26/26		5,606,900
	1,050,000		Ecopetrol S.A.		6.875		04/29/30		1,278,270
	750,000		Ecopetrol S.A.		5.875		05/28/45		800,250
	3,225,000	g	Empresa Nacional del Petroleo		5.250		11/06/29		3,595,889
	4,175,000		Enbridge, Inc		3.125		11/15/29		4,341,278
	4,350,000		Enbridge, Inc		5.750		07/15/80		4,654,500
	1,924,000	g	Energean Israel Finance Ltd		4.875		03/30/26		1,935,395
	2,300,000		Energy Transfer Operating LP		2.900		05/15/25		2,393,422
	2,675,000		Energy Transfer Operating LP		4.750		01/15/26		2,970,179
	1,670,000		Energy Transfer Operating LP		5.500		06/01/27		1,925,889
	8,000,000		Energy Transfer Operating LP		5.250		04/15/29		9,106,296
	5,250,000		Energy Transfer Operating LP		3.750		05/15/30		5,412,582
	4,100,000		Energy Transfer Operating LP		6.250		04/15/49		4,812,610
	4,625,000		Energy Transfer Operating LP		5.000		05/15/50		4,783,380
	500,000	g	EnLink Midstream LLC		5.625		01/15/28		483,490
	1,250,000		Enterprise Products Operating LLC		3.700		02/15/26		1,371,583
	2,700,000		Enterprise Products Operating LLC		3.125		07/31/29		2,847,316
	350,000		Enterprise Products Operating LLC		2.800		01/31/30		361,364
	1,425,000		Enterprise Products Operating LLC		4.250		02/15/48		1,513,603
	2,200,000		Enterprise Products Operating LLC		4.800		02/01/49		2,522,241
	1,800,000		Enterprise Products Operating LLC		4.200		01/31/50		1,916,395
	750,000	g	EQM Midstream Partners LP		6.000		07/01/25		807,188

171

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE

$	1,900,000	g	EQM Midstream Partners LP		4.500	%	01/15/29	$	1,851,474
	2,025,000	g	Ferrellgas Escrow LLC		5.375		04/01/26		2,011,432
	2,225,000	g	Ferrellgas Escrow LLC		5.875		04/01/29		2,194,962
	3,333,000	g	Galaxy Pipeline Assets Bidco Ltd		2.160		03/31/34		3,225,747
	2,750,000	g	Galaxy Pipeline Assets Bidco Ltd		2.625		03/31/36		2,621,862
	1,100,000		Genesis Energy LP		6.500		10/01/25		1,078,275
	450,000	g	Hilcorp Energy I LP		5.750		02/01/29		453,937
	450,000	g	Hilcorp Energy I LP		6.000		02/01/31		456,750
	1,200,000	g	KazMunayGas National Co JSC		5.375		04/24/30		1,421,055
	3,000,000	g	KazMunayGas National Co JSC		3.500		04/14/33		3,172,048
	1,250,000		Kinder Morgan Energy Partners LP		5.400		09/01/44		1,464,937
	1,976,000		Kinder Morgan, Inc		5.300		12/01/34		2,333,645
	2,025,000	g	Leviathan Bond Ltd		6.125		06/30/25		2,196,716
	1,500,000	g	Leviathan Bond Ltd		6.500		06/30/27		1,641,526
	7,625,000		Magellan Midstream Partners LP		3.250		06/01/30		7,982,644
	5,000,000		Marathon Petroleum Corp		4.700		05/01/25		5,619,565
	11,590,000		Marathon Petroleum Corp		3.800		04/01/28		12,525,261
	1,000,000		Marathon Petroleum Corp		4.750		09/15/44		1,109,143
	2,750,000		Marathon Petroleum Corp		5.000		09/15/54		2,910,591
	4,475,000		MPLX LP		1.750		03/01/26		4,481,834
	7,575,000		MPLX LP		2.650		08/15/30		7,423,165
	2,175,000		MPLX LP		4.700		04/15/48		2,353,131
	2,900,000		Murphy Oil Corp		6.875		08/15/24		2,965,250
	642,000		Murphy Oil Corp		5.875		12/01/27		629,160
	200,000		Murphy Oil USA, Inc		5.625		05/01/27		209,000
	1,000,000		NAK Naftogaz Ukraine via Kondor Finance plc		7.375		07/19/22		1,029,150
	850,000		NuStar Logistics LP		5.750		10/01/25		909,942
	2,000,000		Occidental Petroleum Corp		3.500		06/15/25		1,980,000
	325,000		Occidental Petroleum Corp		5.500		12/01/25		343,687
	475,000		Occidental Petroleum Corp		5.550		03/15/26		502,360
	1,975,000		Occidental Petroleum Corp		4.300		08/15/39		1,674,820
	950,000	g	Oleoducto Central S.A.		4.000		07/14/27		1,003,684
	1,025,000		ONEOK, Inc		4.000		07/13/27		1,111,513
	6,030,000		ONEOK, Inc		4.550		07/15/28		6,635,362
	7,750,000		ONEOK, Inc		4.350		03/15/29		8,453,671
	5,277,000		ONEOK, Inc		3.400		09/01/29		5,429,633
	1,000,000		ONEOK, Inc		4.450		09/01/49		997,395
	2,750,000		ONEOK, Inc		4.500		03/15/50		2,752,543
	2,000,000	g,h	Parkland Corp		4.500		10/01/29		2,002,500
	6,200,000	g	Pertamina Persero PT		1.400		02/09/26		6,029,122
	850,000	g	Pertamina Persero PT		3.650		07/30/29		887,795
	2,000,000	g	Pertamina Persero PT		5.625		05/20/43		2,247,663
	2,075,000	g	Peru LNG Srl		5.375		03/22/30		1,859,740
	1,167,000		Petrobras Global Finance BV		5.999		01/27/28		1,282,230
	326,000		Petrobras Global Finance BV		5.093		01/15/30		338,681
	500,000		Petrobras Global Finance BV		5.600		01/03/31		526,900
	2,000,000		Petrobras Global Finance BV		6.900		03/19/49		2,190,000
	5,000,000		Petroleos Mexicanos		4.500		01/23/26		4,964,000
	2,550,000		Petroleos Mexicanos		6.500		03/13/27		2,664,750
	2,100,000		Petroleos Mexicanos		5.350		02/12/28		2,042,040
	2,700,000		Petroleos Mexicanos		5.950		01/28/31		2,592,000
	1,275,000	g	Petronas Capital Ltd		3.500		04/21/30		1,361,506
	5,950,000	g	Petronas Energy Canada Ltd		2.112		03/23/28		5,873,346

172

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE

$	5,000,000		Phillips 66		2.150	%	12/15/30	$	4,730,134
	5,000,000		Phillips 66 Partners LP		3.750		03/01/28		5,353,271
	1,925,000		Phillips 66 Partners LP		3.150		12/15/29		1,952,641
	775,000		Phillips 66 Partners LP		4.680		02/15/45		804,728
	1,200,000	g	PTTEP Treasury Center Co Ltd		2.587		06/10/27		1,232,929
	450,000		Regency Energy Partners LP		4.500		11/01/23		484,387
	270,000		Sabine Pass Liquefaction LLC		5.875		06/30/26		316,296
	6,125,000		Sabine Pass Liquefaction LLC		4.200		03/15/28		6,719,607
	8,900,000		Sabine Pass Liquefaction LLC		4.500		05/15/30		9,987,473
	2,675,000	g	Saudi Arabian Oil Co		2.250		11/24/30		2,561,706
	1,325,000		Shell International Finance BV		2.875		05/10/26		1,413,406
	1,750,000		Shell International Finance BV		3.125		11/07/49		1,688,023
	800,000		Southwestern Energy Co		7.500		04/01/26		846,416
	1,975,000		Sunoco Logistics Partners Operations LP		4.000		10/01/27		2,123,997
	450,000		Sunoco Logistics Partners Operations LP		5.400		10/01/47		485,906
	1,500,000		Sunoco LP		6.000		04/15/27		1,569,375
	1,150,000	g	Sunoco LP		4.500		05/15/29		1,145,688
	550,000	g	Superior Plus LP		4.500		03/15/29		555,610
	300,000		Targa Resources Partners LP		6.500		07/15/27		326,004
	1,000,000	g	Targa Resources Partners LP		4.000		01/15/32		940,520
	4,000,000	g	Thaioil Treasury Center Co Ltd		2.500		06/18/30		3,813,840
	5,550,000		Total Capital International S.A.		3.127		05/29/50		5,224,897
	10,800,000		TransCanada PipeLines Ltd		4.250		05/15/28		12,139,707
	1,260,000		USA Compression Partners LP		6.875		04/01/26		1,292,288
	500,000		USA Compression Partners LP		6.875		09/01/27		515,000
	480,000		Vale Overseas Ltd		6.875		11/21/36		637,951
	15,000,000		Williams Cos, Inc		2.600		03/15/31		14,661,405
	850,000		Williams Partners LP		3.750		06/15/27		926,565
	2,100,000	g	YPF S.A.		6.950		07/21/27		1,273,125
			TOTAL ENERGY						348,430,333

FOOD & STAPLES RETAILING - 0.6%
	1,400,000	g	Central American Bottling Corp		5.750		01/31/27		1,479,275
	3,975,000		Costco Wholesale Corp		1.600		04/20/30		3,806,914
	1,250,000		Costco Wholesale Corp		1.750		04/20/32		1,188,165
	674,000		Ingles Markets, Inc		5.750		06/15/23		679,055
	1,750,000		Kroger Co		3.700		08/01/27		1,947,523
	3,000,000		Kroger Co		3.875		10/15/46		3,133,622
	575,000		Kroger Co		4.450		02/01/47		648,267
	730,000		SYSCO Corp		3.750		10/01/25		795,019
	515,000		Walgreen Co		3.100		09/15/22		533,804
	15,000,000		Walmart, Inc		3.400		06/26/23		15,999,267
	11,550,000		Walmart, Inc		3.700		06/26/28		12,990,151
	6,900,000		Walmart, Inc		2.375		09/24/29		7,060,367
	2,175,000		Walmart, Inc		3.950		06/28/38		2,514,230
			TOTAL FOOD & STAPLES RETAILING						52,775,659

FOOD, BEVERAGE & TOBACCO - 1.5%
	511,000		Altria Group, Inc		4.800		02/14/29		587,143
	1,725,000		Altria Group, Inc		3.400		05/06/30		1,804,759
	2,700,000		Altria Group, Inc		5.950		02/14/49		3,361,749
	3,000,000	e,g	Amaggi Luxembourg International Sarl		5.250		01/28/28		3,075,000
	13,260,000		Anheuser-Busch InBev Worldwide, Inc		4.750		01/23/29		15,494,949
	1,260,000		Anheuser-Busch InBev Worldwide, Inc		4.439		10/06/48		1,415,184

173

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE

$	3,150,000		BAT Capital Corp		2.259	%	03/25/28	$	3,101,338
	8,200,000		BAT Capital Corp		4.906		04/02/30		9,362,676
	19,000,000		BAT Capital Corp		2.726		03/25/31		18,375,392
	2,750,000		BAT Capital Corp		4.540		08/15/47		2,768,942
	3,450,000		BAT Capital Corp		3.984		09/25/50		3,233,231
	1,275,000	g	BRF S.A.		4.875		01/24/30		1,300,500
	2,500,000	e,g	BRF S.A.		5.750		09/21/50		2,464,625
	750,000		Constellation Brands, Inc		4.400		11/15/25		845,325
	2,775,000		Constellation Brands, Inc		3.700		12/06/26		3,047,786
	1,850,000		Constellation Brands, Inc		3.600		02/15/28		2,011,900
	1,150,000		Constellation Brands, Inc		3.150		08/01/29		1,204,541
	575,000		Constellation Brands, Inc		2.875		05/01/30		587,520
	2,750,000		Diageo Capital plc		2.125		10/24/24		2,869,943
	2,320,000		Diageo Capital plc		1.375		09/29/25		2,341,542
	4,075,000		Diageo Capital plc		2.375		10/24/29		4,102,598
	1,950,000		Diageo Capital plc		2.000		04/29/30		1,906,598
	1,875,000	g	Embotelladora Andina S.A.		3.950		01/21/50		1,980,469
	5,000,000		General Mills, Inc		3.700		10/17/23		5,361,372
	625,000		General Mills, Inc		2.875		04/15/30		645,223
	2,000,000	g	Grupo Bimbo SAB de C.V.		4.700		11/10/47		2,216,335
	2,000,000	e,g	Kernel Holding S.A.		6.500		10/17/24		2,116,871
	5,000,000		Kraft Heinz Foods Co		3.875		05/15/27		5,445,477
	2,000,000	g	NBM US Holdings, Inc		6.625		08/06/29		2,199,610
	11,350,000		PepsiCo, Inc		1.625		05/01/30		10,850,310
	1,100,000		PepsiCo, Inc		3.450		10/06/46		1,163,108
	200,000		Philip Morris International, Inc		6.375		05/16/38		276,220
	2,025,000	g	Post Holdings, Inc		4.625		04/15/30		2,030,062
	2,250,000	g	Sigma Alimentos S.A. de C.V.		4.125		05/02/26		2,434,500
	550,000	g	Triton Water Holdings, Inc		6.250		04/01/29		561,000
	400,000		Tyson Foods, Inc		4.350		03/01/29		455,343
	6,325,000	g	Ulker Biskuvi Sanayi AS.		6.950		10/30/25		6,632,685
			TOTAL FOOD, BEVERAGE & TOBACCO						129,631,826

HEALTH CARE EQUIPMENT & SERVICES - 1.8%
	1,200,000		Abbott Laboratories		5.300		05/27/40		1,588,297
	630,000		Anthem, Inc		3.125		05/15/22		648,960
	3,500,000		Anthem, Inc		2.250		05/15/30		3,444,583
	2,475,000		Anthem, Inc		3.600		03/15/51		2,561,888
	2,550,000		Becton Dickinson & Co		2.823		05/20/30		2,614,156
	2,100,000		Boston Scientific Corp		4.000		03/01/29		2,335,929
	400,000	g	Centene Corp		5.375		08/15/26		421,960
	1,750,000		Centene Corp		4.250		12/15/27		1,840,783
	6,310,000		Centene Corp		3.000		10/15/30		6,299,525
	1,800,000		Children’s Hospital Medic		4.268		05/15/44		2,085,172
	2,700,000		Cigna Corp		2.400		03/15/30		2,677,128
	2,550,000		Cigna Corp		3.200		03/15/40		2,549,940
	680,000		CVS Health Corp		3.700		03/09/23		721,662
	495,000		CVS Health Corp		3.875		07/20/25		547,152
	4,600,000		CVS Health Corp		3.625		04/01/27		5,048,824
	11,250,000		CVS Health Corp		3.750		04/01/30		12,272,225
	12,525,000		CVS Health Corp		1.750		08/21/30		11,690,829
	14,675,000		CVS Health Corp		1.875		02/28/31		13,783,952
	2,250,000		CVS Health Corp		4.780		03/25/38		2,655,418

174

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE

$	2,400,000		CVS Health Corp		2.700	%	08/21/40	$	2,210,213
	4,750,000		CVS Health Corp		5.050		03/25/48		5,831,289
	1,900,000		CVS Health Corp		4.250		04/01/50		2,132,757
	1,370,000		Dartmouth-Hitchcock Health		4.178		08/01/48		1,513,861
	1,800,000	g	DaVita, Inc		4.625		06/01/30		1,833,948
	4,300,000	g	DaVita, Inc		3.750		02/15/31		4,101,039
	1,000,000		HCA, Inc		5.375		02/01/25		1,115,515
	2,815,000		HCA, Inc		5.625		09/01/28		3,237,250
	5,000,000		HCA, Inc		3.500		09/01/30		5,042,349
	1,900,000		HCA, Inc		5.500		06/15/47		2,363,209
	3,500,000	g	Hologic, Inc		3.250		02/15/29		3,456,250
	1,875,000		Humana, Inc		3.950		03/15/27		2,090,886
	990,000	g	LifePoint Health, Inc		4.375		02/15/27		970,200
	725,000	g	Molina Healthcare, Inc		4.375		06/15/28		745,996
	3,700,000	e,g	MPH Acquisition Holdings LLC		5.750		11/01/28		3,607,500
	3,375,000		MPT Operating Partnership LP		3.500		03/15/31		3,311,955
	17,050,000	g	SBA Tower Trust		2.836		01/15/25		17,884,978
	8,398,000	g	SBA Tower Trust		1.884		01/15/26		8,499,116
	200,000	g	Teleflex, Inc		4.250		06/01/28		207,250
	825,000		Tenet Healthcare Corp		4.625		07/15/24		842,069
	225,000	g	Tenet Healthcare Corp		4.625		06/15/28		230,620
	5,400,000	g	Tenet Healthcare Corp		6.125		10/01/28		5,636,250
	620,000		UnitedHealth Group, Inc		2.875		03/15/22		631,491
	1,525,000		UnitedHealth Group, Inc		2.950		10/15/27		1,636,951
	1,375,000		UnitedHealth Group, Inc		3.750		10/15/47		1,502,802
	750,000		Zimmer Biomet Holdings, Inc		3.700		03/19/23		793,247
	1,470,000		Zimmer Biomet Holdings, Inc		3.550		04/01/25		1,592,697
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						158,810,071

INSURANCE - 1.3%
	1,550,000	g	Acrisure LLC		4.250		02/15/29		1,524,347
	285,000		Aetna, Inc		6.625		06/15/36		397,775
	131,000		Aflac, Inc		6.450		08/15/40		175,746
	1,025,000	g	AIA Group Ltd		3.200		03/11/25		1,090,714
	3,000,000	g	AIA Group Ltd		3.600		04/09/29		3,222,839
	825,000	g	Alliant Holdings Intermediate LLC		4.250		10/15/27		826,031
	975,000		American Financial Group, Inc		3.500		08/15/26		1,056,726
	620,000		American International Group, Inc		3.750		07/10/25		676,981
	5,400,000		Aon Corp		2.800		05/15/30		5,518,206
	3,740,000		Aon plc		3.500		06/14/24		4,018,254
	4,500,000		AXIS Specialty Finance LLC		4.900		01/15/40		4,612,500
	1,150,000		Berkshire Hathaway Finance Corp		1.850		03/12/30		1,121,987
	1,500,000		Berkshire Hathaway Finance Corp		4.250		01/15/49		1,736,517
	8,250,000		Berkshire Hathaway Finance Corp		2.850		10/15/50		7,603,959
	1,100,000		CNA Financial Corp		3.950		05/15/24		1,194,953
	1,750,000		CNA Financial Corp		2.050		08/15/30		1,663,416
	925,000	g	Equitable Financial Life Global Funding		1.400		07/07/25		924,510
	2,300,000	g	Five Corners Funding Trust		4.419		11/15/23		2,523,020
	3,700,000	g	Five Corners Funding Trust II		2.850		05/15/30		3,813,247
	13,600,000		Hartford Financial Services Group, Inc		2.800		08/19/29		14,107,858
	350,000		Hartford Financial Services Group, Inc		4.300		04/15/43		393,583
	1,450,000	g	Liberty Mutual Group, Inc		3.951		10/15/50		1,495,739
	1,400,000		Marsh & McLennan Cos, Inc		3.500		06/03/24		1,507,865
	600,000		MetLife, Inc		3.000		03/01/25		642,984

175

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE

$	1,775,000		MetLife, Inc			3.600	%	11/13/25	$	1,951,016
	8,870,000		MetLife, Inc			3.850		N/A‡		9,158,275
	1,550,000	g	Metropolitan Life Global Funding I			2.950		04/09/30		1,615,096
	10,175,000		PartnerRe Finance B LLC			4.500		10/01/50		10,381,549
	3,500,000		Principal Financial Group, Inc			2.125		06/15/30		3,365,757
	940,000		Prudential Financial, Inc			3.500		05/15/24		1,024,372
	2,000,000		Prudential Financial, Inc			3.905		12/07/47		2,163,874
	5,220,000		Prudential Financial, Inc			3.700		10/01/50		5,278,464
	1,190,000	g	Prudential Funding LLC			6.750		09/15/23		1,354,343
	2,220,000		Reinsurance Group of America, Inc			3.900		05/15/29		2,433,360
	525,000	g	Swiss Re Treasury US Corp			4.250		12/06/42		601,909
	6,250,000	g,i	Vitality Re IX Ltd	U.S. Treasury Bill 3 M + 1.600%		1.610		01/10/22		6,187,500
	2,200,000	g,i	Vitality Re X Ltd	U.S. Treasury Bill 3 M + 1.750%		1.765		01/10/23		2,189,000
	365,000		Willis North America, Inc			3.600		05/15/24		393,346
			TOTAL INSURANCE							109,947,618

MATERIALS - 1.8%
	100,000	g	Alcoa Nederland Holding BV			6.750		09/30/24		103,350
	400,000	g	Alpek SAB de C.V.			4.250		09/18/29		423,204
	1,325,000	g	Alpek SAB de C.V.			3.250		02/25/31		1,310,425
	2,300,000	g	Anglo American Capital plc			2.625		09/10/30		2,250,896
	6,625,000		AngloGold Ashanti Holdings plc			3.750		10/01/30		6,698,151
	1,310,000	g	Antofagasta plc			2.375		10/14/30		1,279,346
	200,000	g	Arconic Corp			6.000		05/15/25		215,557
	1,225,000	g	Ardagh Metal Packaging Finance USA LLC			3.250		09/01/28		1,210,753
	900,000	g	Ardagh Metal Packaging Finance USA LLC			4.000		09/01/29		898,533
	900,000	g	Axalta Coating Systems LLC			3.375		02/15/29		877,680
	1,850,000		Ball Corp			2.875		08/15/30		1,782,012
	370,000		Bemis Co, Inc			3.100		09/15/26		394,378
	925,000		Bemis Co, Inc			2.630		06/19/30		922,608
	7,675,000	g	Berry Global, Inc			1.570		01/15/26		7,553,889
	2,950,000	g	Berry Global, Inc			5.625		07/15/27		3,115,938
	2,500,000	g	Celulosa Arauco y Constitucion S.A.			4.250		04/30/29		2,727,000
	1,025,000	g	Celulosa Arauco y Constitucion S.A.			4.200		01/29/30		1,103,156
	675,000	g	Cemex SAB de C.V.			7.375		06/05/27		764,215
	2,325,000	g	Cemex SAB de C.V.			5.450		11/19/29		2,547,037
	2,425,000	g	Cemex SAB de C.V.			3.875		07/11/31		2,366,800
	877,000	g	Cleveland-Cliffs, Inc			9.875		10/17/25		1,027,449
	725,000	g	Constellium SE			3.750		04/15/29		693,158
	1,750,000	g	Corp Nacional del Cobre de Chile			3.625		08/01/27		1,890,839
	2,000,000	g	Corp Nacional del Cobre de Chile			3.150		01/14/30		2,073,724
	1,250,000	g	Corp Nacional del Cobre de Chile			4.375		02/05/49		1,390,423
	1,000,000	g	Corp Nacional del Cobre de Chile			3.150		01/15/51		912,739
	1,000,000	g	Corp Nacional del Cobre de Chile-CODELCO			3.700		01/30/50		1,002,045
	265,000		DowDuPont, Inc			4.493		11/15/25		299,491
	1,140,000		DowDuPont, Inc			4.725		11/15/28		1,325,017
	500,000	g	Element Solutions, Inc			3.875		09/01/28		493,375
	950,000	g	Enviva Partners LP			6.500		01/15/26		995,125
	3,500,000	g	First Quantum Minerals Ltd			6.875		10/15/27		3,753,750
	4,900,000		Freeport-McMoRan, Inc			5.450		03/15/43		5,894,700
	1,800,000	g	Fresnillo plc			4.250		10/02/50		1,768,500

176

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE

$	1,250,000	g	Gold Fields Orogen Holdings BVI Ltd		6.125	%	05/15/29	$	1,462,500
	225,000	g	Hudbay Minerals, Inc		4.500		04/01/26		233,845
	475,000	g	Hudbay Minerals, Inc		6.125		04/01/29		507,063
	1,275,000	g	Industrias Penoles SAB de C.V.		4.150		09/12/29		1,385,887
	1,275,000		International Paper Co		5.000		09/15/35		1,539,240
	3,500,000		International Paper Co		5.150		05/15/46		4,433,231
	350,000		International Paper Co		4.350		08/15/48		404,525
	3,000,000	g	Inversiones CMPC S.A.		4.375		04/04/27		3,299,130
	775,000	g	Inversiones CMPC S.A.		3.850		01/13/30		826,073
	675,000	g	James Hardie International Finance DAC		5.000		01/15/28		713,812
	2,000,000	g	Klabin Austria GmbH		5.750		04/03/29		2,239,000
	1,000,000	g	Klabin Finance S.A.		4.875		09/19/27		1,092,590
	1,750,000	g	MEGlobal Canada ULC		5.000		05/18/25		1,944,670
	1,000,000	g	Metinvest BV		7.650		10/01/27		1,071,146
	2,700,000	g	Midwest Connector Capital Co LLC		3.900		04/01/24		2,786,929
	2,700,000	g	Midwest Connector Capital Co LLC		4.625		04/01/29		2,737,894
	1,600,000		Mosaic Co		4.875		11/15/41		1,765,835
	2,000,000		Newmont Corp		2.250		10/01/30		1,948,274
	5,305,000		Newmont Goldcorp Corp		3.625		06/09/21		5,306,855
	5,900,000	g	Nova Chemicals Corp		4.875		06/01/24		6,165,500
	1,725,000		Nutrien Ltd		3.375		03/15/25		1,854,479
	4,900,000		Nutrien Ltd		2.950		05/13/30		5,070,670
	2,000,000	g	OCI NV		5.250		11/01/24		2,080,000
	2,375,000	g	OCI NV		4.625		10/15/25		2,455,156
	720,000	g	Owens-Brockway Glass Container, Inc		5.875		08/15/23		771,300
	480,000		Packaging Corp of America		3.650		09/15/24		521,787
	375,000	g	PolyOne Corp		5.750		05/15/25		398,437
	4,050,000		Praxair, Inc		1.100		08/10/30		3,682,799
	1,550,000	g	SABIC Capital II BV		4.000		10/10/23		1,670,372
	1,475,000		Sasol Financing USA LLC		5.875		03/27/24		1,564,385
	1,750,000		Sasol Financing USA LLC		4.375		09/18/26		1,785,262
	4,200,000		Sherwin-Williams Co		2.300		05/15/30		4,136,464
	1,500,000	g	Sociedad Quimica y Minera de Chile S.A.		4.250		05/07/29		1,676,250
	2,400,000		Suzano Austria GmbH		3.750		01/15/31		2,469,048
	1,325,000	e,g	Suzano Austria GmbH		7.000		03/16/47		1,705,924
	250,000	g	Tronox Finance plc		5.750		10/01/25		260,782
	1,150,000	g	Tronox, Inc		4.625		03/15/29		1,151,437
	3,675,000	g	UltraTech Cement Ltd		2.800		02/16/31		3,451,597
	175,000	g	Univar Solutions USA, Inc		5.125		12/01/27		182,108
	6,900,000		WRKCo, Inc		4.900		03/15/29		8,056,335
			TOTAL MATERIALS						148,873,854

MEDIA & ENTERTAINMENT - 2.2%
	2,675,000		Activision Blizzard, Inc		3.400		09/15/26		2,923,948
	1,850,000		Activision Blizzard, Inc		1.350		09/15/30		1,671,269
	2,500,000	g	Arches Buyer, Inc		4.250		06/01/28		2,495,500
	1,900,000	g	B2W Digital Lux Sarl		4.375		12/20/30		1,855,350
	1,650,000	g	Banco Nacional de Panama		2.500		08/11/30		1,531,200
	1,575,000	g	Cable Onda S.A.		4.500		01/30/30		1,672,603
	500,000	e,g	CBS Radio, Inc		7.250		11/01/24		517,500
	4,900,000	g	CCO Holdings LLC		5.125		05/01/27		5,180,843
	5,000,000	g	CCO Holdings LLC		4.250		02/01/31		5,011,100
	5,150,000		Charter Communications Operating LLC		3.750		02/15/28		5,576,824
	5,660,000		Charter Communications Operating LLC		4.200		03/15/28		6,238,942

177

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE

$	2,500,000		Charter Communications Operating LLC		2.800	%	04/01/31	$	2,467,221
	2,400,000		Charter Communications Operating LLC		5.125		07/01/49		2,700,170
	10,750,000		Charter Communications Operating LLC		4.800		03/01/50		11,531,689
	10,300,000		Comcast Corp		2.350		01/15/27		10,751,595
	3,130,000		Comcast Corp		3.300		02/01/27		3,415,295
	3,700,000		Comcast Corp		4.150		10/15/28		4,234,400
	3,875,000		Comcast Corp		1.500		02/15/31		3,595,067
	4,525,000		Comcast Corp		3.200		07/15/36		4,718,948
	1,000,000		Comcast Corp		3.900		03/01/38		1,123,208
	7,500,000		Comcast Corp		4.700		10/15/48		9,267,328
	17,350,000		Comcast Corp		2.800		01/15/51		15,908,383
	4,100,000	g	CSC Holdings LLC		5.500		04/15/27		4,306,435
	1,500,000	g	CSC Holdings LLC		7.500		04/01/28		1,654,200
	5,000,000	g	CSC Holdings LLC		3.375		02/15/31		4,712,500
	656,000		Discovery Communications LLC		2.950		03/20/23		685,369
	3,475,000		Discovery Communications LLC		3.625		05/15/30		3,718,701
	3,500,000		Discovery Communications LLC		5.200		09/20/47		4,149,483
	1,450,000		DISH DBS Corp		5.000		03/15/23		1,512,712
	1,000,000		DISH DBS Corp		7.750		07/01/26		1,103,735
	2,000,000		DISH DBS Corp		7.375		07/01/28		2,098,100
	2,000,000	g	Empresa de los Ferrocarriles del Estado		3.068		08/18/50		1,745,000
	1,125,000	g	Gray Escrow, Inc		7.000		05/15/27		1,223,437
	550,000	g	Gray Television, Inc		5.875		07/15/26		569,937
	2,785,000		Grupo Televisa SAB		6.625		01/15/40		3,578,725
	650,000		Lamar Media Corp		3.750		02/15/28		649,188
	1,000,000		Lamar Media Corp		4.000		02/15/30		997,220
	1,675,000	g	Lamar Media Corp		3.625		01/15/31		1,618,134
	1,275,000	g	LCPR Senior Secured Financing DAC		5.125		07/15/29		1,297,466
	6,900,000	g	LUKOIL Securities BV		3.875		05/06/30		7,115,970
	1,200,000		MDGH-GMTN BV		2.500		05/21/26		1,245,324
	3,000,000	g	Medco Bell Pte Ltd		6.375		01/30/27		3,009,000
	2,445,000	g	Mexico Remittances Funding Fiduciary Estate Management Sarl		4.875		01/15/28		2,396,345
	885,000		NBC Universal Media LLC		6.400		04/30/40		1,277,568
	45,000	g	Nielsen Finance LLC		5.000		04/15/22		45,009
	2,100,000	g	Oryx Funding Ltd		5.800		02/03/31		2,165,916
	525,000	g	Outfront Media Capital LLC		4.250		01/15/29		505,428
	1,525,000	g	Rackspace Technology Global, Inc		3.500		02/15/28		1,465,754
	1,575,000	g	Sirius XM Radio, Inc		4.125		07/01/30		1,576,811
	750,000	g	TEGNA, Inc		4.750		03/15/26		795,938
	500,000		TEGNA, Inc		4.625		03/15/28		508,750
	1,075,000	g	Telefonica Celular del Paraguay S.A.		5.875		04/15/27		1,138,156
	250,000		Time Warner Cable LLC		5.875		11/15/40		310,461
	1,100,000		ViacomCBS, Inc		2.900		01/15/27		1,156,217
	800,000		ViacomCBS, Inc		3.375		02/15/28		850,152
	1,770,000		ViacomCBS, Inc		4.375		03/15/43		1,909,945
	200,000		ViacomCBS, Inc		5.850		09/01/43		255,442
	4,500,000		Walt Disney Co		3.000		09/15/22		4,672,170
	110,000		Walt Disney Co		7.625		11/30/28		150,185
	19,500,000		Walt Disney Co		2.000		09/01/29		19,258,484
	85,000		Walt Disney Co		6.550		03/15/33		117,696
	1,825,000		Weibo Corp		3.375		07/08/30		1,815,512
			TOTAL MEDIA & ENTERTAINMENT						193,750,958

178

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE

PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 1.4%
$	1,550,000		AbbVie, Inc		2.850	%	05/14/23	$	1,616,773
	12,900,000		AbbVie, Inc		3.800		03/15/25		14,093,761
	11,400,000		AbbVie, Inc		2.950		11/21/26		12,137,361
	7,050,000		AbbVie, Inc		3.200		11/21/29		7,499,593
	6,500,000		AbbVie, Inc		4.050		11/21/39		7,277,441
	2,072,000		AbbVie, Inc		4.400		11/06/42		2,408,270
	1,360,000		AbbVie, Inc		4.450		05/14/46		1,566,949
	8,775,000		AbbVie, Inc		4.250		11/21/49		9,929,228
	1,775,000		AstraZeneca plc		3.125		06/12/27		1,910,195
	1,500,000	g	Avantor Funding, Inc		4.625		07/15/28		1,566,540
	1,021,000		Bristol-Myers Squibb Co		2.900		07/26/24		1,090,895
	424,000		Bristol-Myers Squibb Co		3.875		08/15/25		471,486
	12,950,000		Bristol-Myers Squibb Co		3.400		07/26/29		14,151,952
	10,750,000		Bristol-Myers Squibb Co		1.450		11/13/30		10,043,416
	620,000		Bristol-Myers Squibb Co		4.250		10/26/49		730,283
	1,375,000		Bristol-Myers Squibb Co		2.550		11/13/50		1,221,979
	225,000	g	Emergent BioSolutions, Inc		3.875		08/15/28		219,937
	475,000	g	Endo Luxembourg Finance Co I Sarl		6.125		04/01/29		479,156
	1,850,000		Gilead Sciences, Inc		1.200		10/01/27		1,773,667
	635,000		Gilead Sciences, Inc		4.000		09/01/36		696,190
	4,850,000		Gilead Sciences, Inc		2.800		10/01/50		4,310,602
	100,000	g	Jaguar Holding Co II		4.625		06/15/25		104,330
	125,000	g	Jaguar Holding Co II		5.000		06/15/28		130,187
	1,325,000		Johnson & Johnson		2.900		01/15/28		1,432,681
	1,250,000		Johnson & Johnson		3.400		01/15/38		1,370,879
	7,875,000		Merck & Co, Inc		1.450		06/24/30		7,502,493
	4,075,000		Mylan, Inc		4.550		04/15/28		4,601,878
	2,650,000	g	Royalty Pharma plc		2.200		09/02/30		2,528,869
	10,175,000		Takeda Pharmaceutical Co Ltd		2.050		03/31/30		9,806,544
	1,000,000		Takeda Pharmaceutical Co Ltd		3.025		07/09/40		967,165
	3,000,000		Teva Pharmaceutical Finance Netherlands III BV		3.150		10/01/26		2,868,750
	2,125,000	g	Viatris, Inc		2.700		06/22/30		2,098,401
	1,250,000	g	Viatris, Inc		3.850		06/22/40		1,279,202
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						129,887,053

REAL ESTATE - 2.0%
	5,450,000		Alexandria Real Estate Equities, Inc		3.450		04/30/25		5,908,360
	450,000		Alexandria Real Estate Equities, Inc		3.950		01/15/27		501,590
	675,000		Alexandria Real Estate Equities, Inc		3.950		01/15/28		750,246
	2,775,000		Alexandria Real Estate Equities, Inc		4.900		12/15/30		3,278,028
	1,900,000		Alexandria Real Estate Equities, Inc		1.875		02/01/33		1,727,484
	1,450,000		American Tower Corp		3.000		06/15/23		1,525,801
	2,700,000		American Tower Corp		2.950		01/15/25		2,871,031
	600,000		American Tower Corp		3.375		10/15/26		648,867
	10,000,000		American Tower Corp		2.750		01/15/27		10,438,408
	1,200,000		American Tower Corp		3.600		01/15/28		1,295,696
	5,800,000		American Tower Corp		3.800		08/15/29		6,314,780
	6,950,000		American Tower Corp		2.900		01/15/30		7,065,032
	5,025,000		American Tower Corp		1.875		10/15/30		4,700,966

179

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE

$	1,975,000		Brandywine Operating Partnership LP		3.950	%	02/15/23	$	2,064,263
	1,125,000		Brandywine Operating Partnership LP		4.100		10/01/24		1,213,951
	2,225,000		Brixmor Operating Partnership LP		3.850		02/01/25		2,407,337
	600,000		Brixmor Operating Partnership LP		2.250		04/01/28		588,729
	2,000,000		Camden Property Trust		4.250		01/15/24		2,167,096
	1,550,000		Corporate Office Properties LP		2.750		04/15/31		1,498,816
	400,000		Crown Castle International Corp		3.650		09/01/27		435,894
	1,275,000		Crown Castle International Corp		3.800		02/15/28		1,388,964
	6,675,000		Crown Castle International Corp		2.250		01/15/31		6,415,658
	5,845,000		Crown Castle International Corp		2.100		04/01/31		5,518,703
	1,950,000		Digital Realty Trust LP		3.700		08/15/27		2,149,674
	1,075,000		Duke Realty LP		4.000		09/15/28		1,192,422
	1,925,000		Equinix, Inc		2.150		07/15/30		1,830,177
	850,000		Essex Portfolio LP		3.375		01/15/23		884,374
	5,000,000		Essex Portfolio LP		3.875		05/01/24		5,403,375
	4,575,000		Essex Portfolio LP		3.000		01/15/30		4,687,220
	1,675,000		Healthcare Realty Trust, Inc		3.875		05/01/25		1,816,651
	3,000,000		Healthcare Realty Trust, Inc		3.625		01/15/28		3,224,129
	900,000		Healthcare Realty Trust, Inc		2.400		03/15/30		876,152
	925,000		Healthcare Realty Trust, Inc		2.050		03/15/31		867,451
	4,125,000		Healthcare Trust of America Holdings LP		3.500		08/01/26		4,506,113
	5,525,000		Healthcare Trust of America Holdings LP		3.100		02/15/30		5,701,568
	5,500,000		Highwoods Realty LP		3.875		03/01/27		5,952,704
	1,025,000		Highwoods Realty LP		4.125		03/15/28		1,109,052
	1,350,000		Highwoods Realty LP		4.200		04/15/29		1,466,052
	8,010,000		Highwoods Realty LP		3.050		02/15/30		8,088,476
	1,675,000		Highwoods Realty LP		2.600		02/01/31		1,636,059
	1,225,000	g	Howard Hughes Corp		4.125		02/01/29		1,197,707
	1,300,000	g	Howard Hughes Corp		4.375		02/01/31		1,273,187
	835,000		Hudson Pacific Properties LP		3.950		11/01/27		894,935
	1,500,000		Hudson Pacific Properties LP		3.250		01/15/30		1,509,512
	775,000		iStar, Inc		4.750		10/01/24		806,314
	1,400,000		Kennedy-Wilson, Inc		4.750		03/01/29		1,417,500
	1,475,000		Kennedy-Wilson, Inc		5.000		03/01/31		1,493,806
	425,000		Life Storage LP		2.200		10/15/30		401,459
	350,000	g	MGM Growth Properties Operating Partnership LP		4.625		06/15/25		369,145
	1,200,000		Mid-America Apartments LP		4.300		10/15/23		1,296,741
	1,200,000		Mid-America Apartments LP		3.750		06/15/24		1,298,291
	1,050,000		Mid-America Apartments LP		4.000		11/15/25		1,165,062
	2,150,000		Mid-America Apartments LP		3.600		06/01/27		2,339,336
	7,350,000		Mid-America Apartments LP		2.750		03/15/30		7,420,356
	2,700,000		Mid-America Apartments LP		1.700		02/15/31		2,480,444
	625,000		National Retail Properties, Inc		4.000		11/15/25		686,338
	1,850,000		National Retail Properties, Inc		3.600		12/15/26		2,005,254
	1,100,000		Regency Centers LP		3.900		11/01/25		1,201,807
	1,950,000		Regency Centers LP		3.600		02/01/27		2,110,674
	4,650,000		Regency Centers LP		2.950		09/15/29		4,729,819
	2,925,000		Retail Properties of America, Inc		4.750		09/15/30		3,095,884
	3,950,000	g	SBA Communications Corp		3.125		02/01/29		3,796,543
	646,000		SITE Centers Corp		3.625		02/01/25		674,588
	2,000,000		SITE Centers Corp		4.250		02/01/26		2,133,664
	2,833,000		SITE Centers Corp		4.700		06/01/27		3,094,359
	3,000,000	g	Trust F/1401		5.250		01/30/26		3,315,000

180

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE

$	775,000	g	VICI Properties LP		3.500	%	02/15/25	$	789,047
	400,000		Weingarten Realty Investors		3.375		10/15/22		413,399
	1,876,000		Weingarten Realty Investors		3.500		04/15/23		1,963,602
	475,000		Weingarten Realty Investors		4.450		01/15/24		514,060
	1,025,000		Weingarten Realty Investors		3.850		06/01/25		1,101,641
	700,000		Weingarten Realty Investors		3.250		08/15/26		733,370
			TOTAL REAL ESTATE						179,840,193

RETAILING - 0.6%
	1,100,000		AutoNation, Inc		3.800		11/15/27		1,199,930
	3,275,000		AutoZone, Inc		1.650		01/15/31		2,998,062
	300,000		Chevron USA, Inc		3.900		11/15/24		330,324
	1,400,000		Chevron USA, Inc		3.850		01/15/28		1,559,995
	1,250,000		Chevron USA, Inc		5.050		11/15/44		1,585,603
	550,000	g	Group 1 Automotive, Inc		4.000		08/15/28		546,562
	520,000		Home Depot, Inc		2.625		06/01/22		533,092
	4,000,000	g	JSM Global Sarl		4.750		10/20/30		4,010,040
	125,000	g	L Brands, Inc		9.375		07/01/25		155,625
	925,000	g	L Brands, Inc		6.625		10/01/30		1,056,165
	850,000	g	Lithia Motors, Inc		4.625		12/15/27		882,937
	1,950,000	g	Lithia Motors, Inc		4.375		01/15/31		2,023,993
	4,215,000		O’Reilly Automotive, Inc		3.550		03/15/26		4,602,455
	2,175,000		O’Reilly Automotive, Inc		3.600		09/01/27		2,377,552
	2,100,000		O’Reilly Automotive, Inc		4.200		04/01/30		2,360,835
	5,505,000		O’Reilly Automotive, Inc		1.750		03/15/31		5,086,134
	715,000		Penske Automotive Group, Inc		5.500		05/15/26		735,771
	2,200,000	g	Prosus NV		3.680		01/21/30		2,270,698
	2,000,000	g	Prosus NV		3.832		02/08/51		1,756,550
	4,950,000	g	Staples, Inc		7.500		04/15/26		5,221,013
	8,025,000		Target Corp		2.350		02/15/30		8,136,083
			TOTAL RETAILING						49,429,419

SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.4%
	4,250,000		Broadcom, Inc		4.150		11/15/30		4,587,280
	6,774,000	g	Broadcom, Inc		3.469		04/15/34		6,797,160
	2,475,000	g	Broadcom, Inc		3.500		02/15/41		2,370,415
	260,000		Intel Corp		3.150		05/11/27		283,084
	1,150,000		Intel Corp		3.734		12/08/47		1,238,771
	1,350,000		Lam Research Corp		3.750		03/15/26		1,496,335
	1,525,000		Lam Research Corp		4.000		03/15/29		1,726,966
	5,575,000		Lam Research Corp		1.900		06/15/30		5,403,137
	550,000		Lam Research Corp		2.875		06/15/50		524,283
	1,650,000	g	NXP BV		2.700		05/01/25		1,730,461
	2,650,000	g	NXP BV		3.875		06/18/26		2,916,809
	1,200,000	g	NXP BV		3.400		05/01/30		1,267,143
	3,600,000	g	SK Hynix, Inc		1.500		01/19/26		3,542,688
	1,100,000		Texas Instruments, Inc		2.625		05/15/24		1,165,773
	1,100,000		Texas Instruments, Inc		4.150		05/15/48		1,308,670
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT						36,358,975

SOFTWARE & SERVICES - 0.9%
	9,955,000		Adobe, Inc		2.300		02/01/30		10,067,528

181

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE

$	1,275,000		Baidu, Inc		4.375	%	05/14/24	$	1,398,647
	250,000	g	Black Knight InfoServ LLC		3.625		09/01/28		245,652
	925,000	g	Booz Allen Hamilton, Inc		3.875		09/01/28		929,856
	90,000	g	Camelot Finance S.A.		4.500		11/01/26		93,053
	2,375,000		Fidelity National Information Services, Inc		2.250		03/01/31		2,333,474
	6,300,000		Fiserv, Inc		2.750		07/01/24		6,657,314
	9,550,000		Fiserv, Inc		3.500		07/01/29		10,300,623
	900,000	g	Gartner, Inc		3.750		10/01/30		892,557
	2,425,000		Global Payments, Inc		2.650		02/15/25		2,547,897
	5,225,000		Global Payments, Inc		3.200		08/15/29		5,503,030
	3,000,000	g	HCL America, Inc		1.375		03/10/26		2,945,985
	1,625,000	g	j2 Global, Inc		4.625		10/15/30		1,641,250
	19,000,000		Microsoft Corp		2.400		08/08/26		20,087,833
	446,000		Microsoft Corp		2.525		06/01/50		406,116
	2,614,000		Microsoft Corp		2.921		03/17/52		2,574,927
	550,000	g	Open Text Holdings, Inc		4.125		02/15/30		557,529
	175,000	g	Presidio Holdings, Inc		4.875		02/01/27		179,379
	875,000		salesforce.com, Inc		3.700		04/11/28		977,296
	2,400,000		Twilio, Inc		3.625		03/15/29		2,429,592
	580,000		Visa, Inc		3.150		12/14/25		632,606
	4,725,000		Visa, Inc		2.050		04/15/30		4,716,723
	900,000		Visa, Inc		2.700		04/15/40		881,399
			TOTAL SOFTWARE & SERVICES						79,000,266

TECHNOLOGY HARDWARE & EQUIPMENT - 0.8%
	3,450,000		Amphenol Corp		2.800		02/15/30		3,537,151
	8,575,000		Apple, Inc		2.450		08/04/26		9,033,694
	19,975,000		Apple, Inc		2.050		09/11/26		20,679,907
	1,100,000		Apple, Inc		4.650		02/23/46		1,367,745
	3,000,000		Apple, Inc		2.650		02/08/51		2,741,344
	6,076,000		Broadcom Corp		3.875		01/15/27		6,597,959
	434,000	g	CommScope Technologies LLC		6.000		06/15/25		442,702
	675,000		Corning, Inc		4.375		11/15/57		737,209
	4,450,000	g	Dell International LLC		5.300		10/01/29		5,205,441
	5,500,000	g	Lenovo Group Ltd		3.421		11/02/30		5,522,407
	2,425,000	g	NCR Corp		5.000		10/01/28		2,449,250
	975,000	g	Sensata Technologies BV		4.000		04/15/29		992,579
	3,000,000		Tyco Electronics Group S.A.		3.500		02/03/22		3,055,541
	525,000		Tyco Electronics Group S.A.		3.700		02/15/26		574,493
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						62,937,422

TELECOMMUNICATION SERVICES - 2.3%
	5,500,000		AT&T, Inc		4.300		02/15/30		6,191,744
	11,050,000		AT&T, Inc		2.250		02/01/32		10,510,074
	10,737,000	g	AT&T, Inc		2.550		12/01/33		10,193,610
	2,300,000		AT&T, Inc		4.500		05/15/35		2,594,090
	8,825,000		AT&T, Inc		3.300		02/01/52		7,948,213
	7,122,000	g	AT&T, Inc		3.500		09/15/53		6,581,695
	13,750,000	g	AT&T, Inc		3.550		09/15/55		12,582,714
	12,498,000	g	AT&T, Inc		3.800		12/01/57		11,890,430
	2,399,000	g	AT&T, Inc		3.650		09/15/59		2,192,851
	3,775,000	g	Avaya, Inc		6.125		09/15/28		4,007,408
	2,000,000	g	Bharti Airtel Ltd		4.375		06/10/25		2,147,386
	6,250,000	g	Bharti Airtel Ltd		3.250		06/03/31		6,102,018

182

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE

$	450,000	g	C&W Senior Financing Designated Activity Co		7.500	%	10/15/26	$	476,437
	2,000,000	g	C&W Senior Financing Designated Activity Co		6.875		09/15/27		2,132,500
	975,000	g	CommScope, Inc		6.000		03/01/26		1,027,343
	630,000		Deutsche Telekom International Finance BV		8.750		06/15/30		934,360
	1,525,000	g	Kenbourne Invest S.A.		4.700		01/22/28		1,567,700
	1,175,000	g	Millicom International Cellular S.A.		4.500		04/27/31		1,222,000
	2,000,000	g	MTN Mauritius Investment Ltd		6.500		10/13/26		2,235,810
	2,000,000	g	Network i2i Ltd		5.650		N/A‡		2,115,000
	2,000,000	g	Network i2i Ltd		3.975		N/A‡		2,005,000
	2,475,000	g,h	Ooredoo International Finance Ltd		2.625		04/08/31		2,448,320
	500,000		Orange S.A.		5.375		01/13/42		647,552
	510,000		Rogers Communications, Inc		3.625		12/15/25		556,474
	1,900,000		Rogers Communications, Inc		3.700		11/15/49		1,886,568
	4,700,000		Telefonica Emisiones SAU		4.103		03/08/27		5,255,279
	2,300,000		T-Mobile USA, Inc		2.250		02/15/26		2,316,537
	3,000,000		T-Mobile USA, Inc		2.625		02/15/29		2,913,120
	16,100,000	g	T-Mobile USA, Inc		3.875		04/15/30		17,474,296
	10,800,000	g	T-Mobile USA, Inc		2.550		02/15/31		10,580,652
	2,000,000		T-Mobile USA, Inc		2.875		02/15/31		1,933,000
	1,275,000	g	T-Mobile USA, Inc		3.000		02/15/41		1,183,391
	1,150,000	g	T-Mobile USA, Inc		4.500		04/15/50		1,291,323
	4,075,000	g	T-Mobile USA, Inc		3.300		02/15/51		3,808,373
	206,000		Verizon Communications, Inc		3.376		02/15/25		223,441
	1,375,000	g	Verizon Communications, Inc		1.680		10/30/30		1,275,637
	1,300,000		Verizon Communications, Inc		1.750		01/20/31		1,210,605
	7,600,000		Verizon Communications, Inc		2.550		03/21/31		7,593,104
	11,097,000		Verizon Communications, Inc		4.272		01/15/36		12,542,760
	18,400,000		Verizon Communications, Inc		2.875		11/20/50		16,353,586
	7,000,000		Vodafone Group plc		4.250		09/17/50		7,688,440
	1,325,000	g	Zayo Group Holdings, Inc		4.000		03/01/27		1,301,812
			TOTAL TELECOMMUNICATION SERVICES						197,142,653

TRANSPORTATION - 0.6%
	1,000,000	g	Adani Ports & Special Economic Zone Ltd		4.000		07/30/27		1,054,288
	800,000	g	Adani Ports & Special Economic Zone Ltd		4.200		08/04/27		848,392
	1,800,000	g	Adani Ports & Special Economic Zone Ltd		3.100		02/02/31		1,706,580
	2,925,000	g	American Airlines, Inc		5.500		04/20/26		3,044,018
	3,825,000		Burlington Northern Santa Fe LLC		3.050		02/15/51		3,699,623
	6,375,000		Canadian Pacific Railway Co		2.050		03/05/30		6,158,758
	1,000,000		CSX Corp		2.600		11/01/26		1,056,797
	625,000		CSX Corp		3.250		06/01/27		679,626
	700,000		CSX Corp		3.800		03/01/28		776,890
	9,715,000		CSX Corp		4.250		03/15/29		11,033,547
	3,475,000		Delta Air Lines, Inc		2.900		10/28/24		3,474,688
	775,000	g	Delta Air Lines, Inc		7.000		05/01/25		892,767
	1,275,000	g	Delta Air Lines, Inc		4.500		10/20/25		1,360,933
	2,275,000		Delta Air Lines, Inc		3.750		10/28/29		2,218,200
	1,000,000	g	DP World Ltd		5.625		09/25/48		1,172,020
	200,000	g	Hawaiian Brand Intellectual Property Ltd		5.750		01/20/26		212,520
	1,243,000	g	Mexico City Airport Trust		4.250		10/31/26		1,308,257
	700,000	g	Mileage Plus Holdings LLC		6.500		06/20/27		767,375
	2,650,000	g	Pelabuhan Indonesia III Persero PT		4.500		05/02/23		2,802,375
	5,200,000		Union Pacific Corp		3.950		09/10/28		5,826,125

183

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE

$	2,175,000		Union Pacific Corp		3.839	%	03/20/60	$	2,311,583
			TOTAL TRANSPORTATION						52,405,362

UTILITIES - 3.4%
	1,905,875	g	Adani Transmission Ltd		4.250		05/21/36		1,964,709
	1,000,000		AEP Transmission Co LLC		3.100		12/01/26		1,080,747
	1,000,000		AEP Transmission Co LLC		4.000		12/01/46		1,097,618
	725,000		Alabama Power Co		4.150		08/15/44		804,011
	3,000,000		Alabama Power Co		3.450		10/01/49		3,058,908
	4,600,000		Ameren Corp		3.650		02/15/26		5,017,757
	1,800,000		Ameren Corp		3.500		01/15/31		1,910,252
	1,650,000		American Water Capital Corp		3.000		12/01/26		1,768,537
	3,075,000		American Water Capital Corp		2.800		05/01/30		3,162,453
	1,400,000		American Water Capital Corp		4.000		12/01/46		1,524,726
	1,425,000		American Water Capital Corp		3.750		09/01/47		1,519,733
	675,000		American Water Capital Corp		3.450		05/01/50		682,511
	5,275,000		Atmos Energy Corp		1.500		01/15/31		4,818,469
	375,000		Atmos Energy Corp		4.125		10/15/44		410,920
	3,000,000		Avangrid, Inc		3.150		12/01/24		3,224,158
	800,000	g	Azure Power Solar Energy Pvt Ltd		5.650		12/24/24		846,469
	2,050,000		Baltimore Gas & Electric Co		3.750		08/15/47		2,192,745
	2,750,000		Baltimore Gas & Electric Co		3.200		09/15/49		2,670,290
	4,950,000		Berkshire Hathaway Energy Co		3.250		04/15/28		5,336,187
	7,137,000		Berkshire Hathaway Energy Co		1.650		05/15/31		6,634,919
	1,075,000		Black Hills Corp		4.250		11/30/23		1,166,020
	850,000		Black Hills Corp		3.150		01/15/27		907,052
	3,350,000	g	Calpine Corp		3.750		03/01/31		3,192,885
	660,000		CenterPoint Energy Resources Corp		6.250		02/01/37		810,248
	1,125,000		CMS Energy Corp		3.600		11/15/25		1,224,054
	3,000,000	e,g	Comision Federal de Electricidad		3.348		02/09/31		2,883,030
	395,000		Commonwealth Edison Co		5.900		03/15/36		525,780
	6,750,000		Commonwealth Edison Co		3.000		03/01/50		6,407,675
	2,100,000		Dominion Energy Gas Holdings LLC		2.500		11/15/24		2,207,871
	6,300,000	h	Dominion Energy, Inc		3.300		04/15/41		6,201,624
	1,550,000		Dominion Resources, Inc		2.000		08/15/21		1,557,144
	7,575,000		DTE Electric Co		2.250		03/01/30		7,554,670
	3,050,000		Duke Energy Corp		1.800		09/01/21		3,064,870
	7,575,000		Duke Energy Corp		2.650		09/01/26		7,925,974
	3,125,000		Duke Energy Corp		3.750		09/01/46		3,142,738
	1,046,309		Duke Energy Florida Project Finance LLC		1.731		09/01/22		1,057,392
	650,000		Duke Energy Ohio, Inc		3.800		09/01/23		694,343
	2,300,000		Duke Energy Progress LLC		2.500		08/15/50		1,960,020
	6,000,000		Edison International		5.375		N/A‡		6,082,800
	2,390,000	g	Empresas Publicas de Medellin ESP		4.250		07/18/29		2,419,875
	2,000,000		Enel Chile S.A.		4.875		06/12/28		2,316,000
	6,000,000	g	EnfraGen Energia Sur S.A.		5.375		12/30/30		5,902,560
	3,000,000	g	ENN Energy Holdings Ltd		2.625		09/17/30		2,881,665
	4,994,000		Entergy Corp		4.000		07/15/22		5,186,697
	3,700,000		Entergy Corp		0.900		09/15/25		3,613,097
	900,000	g	Eskom Holdings SOC Ltd		8.450		08/10/28		977,403
	1,000,000		Eversource Energy		0.800		08/15/25		974,763
	3,000,000		Eversource Energy		3.450		01/15/50		2,980,215
	1,225,000		Exelon Corp		4.050		04/15/30		1,364,992
	2,975,000		Exelon Generation Co LLC		3.400		03/15/22		3,049,737

184

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE

$	2,700,000		Florida Power & Light Co		3.990	%	03/01/49	$	3,105,371
UGX	8,000,000,000	†,g	ICBC Standard Bank plc		14.250		06/26/34		1,953,812
$	1,150,000		Indiana Michigan Power Co		3.750		07/01/47		1,201,925
	2,000,000	g	Inkia Energy Ltd		5.875		11/09/27		2,100,000
	8,000,000	g	Israel Electric Corp Ltd		4.250		08/14/28		8,867,123
	2,000,000	g	Kallpa Generacion SA		4.125		08/16/27		2,130,000
	2,200,000	g	Korea Hydro & Nuclear Power Co Ltd		3.750		07/25/23		2,357,909
	2,400,000	g	Korea Southern Power Co Ltd		0.750		01/27/26		2,322,336
	7,275,000		MidAmerican Energy Co		3.650		04/15/29		8,069,956
	2,175,000		MidAmerican Energy Co		3.650		08/01/48		2,300,040
	3,000,000	g	NBK Tier Financing Ltd		3.625		N/A‡		2,953,941
	1,650,000		Nevada Power Co		2.400		05/01/30		1,644,344
	1,150,000	g	Nexa Resources S.A.		6.500		01/18/28		1,319,901
	300,000		NextEra Energy Capital Holdings, Inc		3.250		04/01/26		324,305
	5,750,000		NextEra Energy Capital Holdings, Inc		2.250		06/01/30		5,625,826
	3,075,000		NiSource, Inc		3.490		05/15/27		3,336,673
	5,350,000		NiSource, Inc		3.600		05/01/30		5,798,649
	12,100,000		NiSource, Inc		1.700		02/15/31		11,207,255
	4,150,000	g	NRG Energy, Inc		2.450		12/02/27		4,124,965
	1,250,000		NRG Energy, Inc		5.750		01/15/28		1,328,125
	2,000,000		NSTAR Electric Co		3.200		05/15/27		2,162,586
	850,000		NSTAR Electric Co		3.950		04/01/30		955,153
	2,175,000		Ohio Power Co		4.150		04/01/48		2,436,560
	2,175,000		Ohio Power Co		4.000		06/01/49		2,428,707
	150,000		Oncor Electric Delivery Co LLC		7.250		01/15/33		216,627
	700,000		ONE Gas, Inc		3.610		02/01/24		746,240
	350,000	g	Pattern Energy Operations LP		4.500		08/15/28		355,687
	1,375,000		PECO Energy Co		3.000		09/15/49		1,316,241
	1,000,000		PECO Energy Co		2.800		06/15/50		931,351
	1,400,000	g	Perusahaan Listrik Negara PT		3.875		07/17/29		1,467,508
	2,000,000	g	Perusahaan Listrik Negara PT		3.375		02/05/30		2,015,000
	911,000	g,o	Petra Diamonds US Treasury plc		10.500		03/08/26		883,670
	135,000		Potomac Electric Power Co		7.900		12/15/38		209,691
	1,000,000		PPL Electric Utilities Corp		3.000		09/15/21		1,004,941
	1,550,000	g	Promigas S.A. ESP		3.750		10/16/29		1,575,575
	8,425,000		Public Service Co of Colorado		1.875		06/15/31		8,059,327
	3,225,000		Public Service Co of Colorado		3.200		03/01/50		3,231,796
	3,925,000		Public Service Electric & Gas Co		3.150		01/01/50		3,907,895
	2,500,000	g	Rumo Luxembourg Sarl		5.250		01/10/28		2,628,050
	5,000,000	g	Saka Energi Indonesia PT		4.450		05/05/24		4,412,500
	1,750,000		Southern Co		4.400		07/01/46		1,948,770
	15,000,000		Southern Co		4.000		01/15/51		15,828,750
	2,075,000		Southern Co Gas Capital Corp		3.875		11/15/25		2,292,174
	1,250,000		Southern Co Gas Capital Corp		4.400		06/01/43		1,353,813
	1,175,000		Southern Co Gas Capital Corp		3.950		10/01/46		1,215,975
	4,900,000		Southwestern Public Service Co		3.400		08/15/46		4,892,191
	400,000		TC PipeLines LP		3.900		05/25/27		433,904
	1,000,000	g	Tengizchevroil Finance Co International Ltd		2.625		08/15/25		1,007,336
	1,700,000	g	UEP Penonome II S.A.		6.500		10/01/38		1,712,767
	845,000	e	Virginia Electric & Power Co		2.950		01/15/22		856,333
	1,025,000		Virginia Electric & Power Co		2.950		11/15/26		1,098,755
	1,050,000		Virginia Electric & Power Co		3.500		03/15/27		1,151,069
	6,000,000		Virginia Electric & Power Co		3.800		04/01/28		6,625,850

185

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE

$	1,000,000		Wisconsin Power & Light Co		4.100	%	10/15/44	$	1,092,826
	1,800,000		Xcel Energy, Inc		3.350		12/01/26		1,949,974
	470,000		Xcel Energy, Inc		4.800		09/15/41		553,718
			TOTAL UTILITIES						296,991,079

			TOTAL CORPORATE BONDS						3,494,503,417
			(Cost $3,418,441,648)

GOVERNMENT BONDS - 40.1%

AGENCY SECURITIES - 0.6%
	340,564		AMAL Ltd		3.465		08/21/21		343,237
	2,500,000		Amber Circle Funding Ltd		3.250		12/04/22		2,591,872
	3,359,000		Canal Barge Co, Inc		4.500		11/12/34		3,795,528
	23,350,000		Federal Farm Credit Banks Funding Corp		0.045		03/16/22		23,349,224
	5,750,000		Overseas Private Investment Corp (OPIC)		3.520		09/20/32		6,410,883
	11,000,000	g	Private Export Funding Corp (PEFCO)		3.266		11/08/21		11,206,604
	2,000,000	g	Reliance Industries Ltd		3.667		11/30/27		2,171,820
			TOTAL AGENCY SECURITIES						49,869,168

FOREIGN GOVERNMENT BONDS - 3.0%
	2,000,000	g	Abu Dhabi Government International Bond		3.125		05/03/26		2,168,022
	1,500,000	g	Abu Dhabi Government International Bond		2.500		09/30/29		1,535,761
	3,150,000	g	Abu Dhabi Government International Bond		3.125		09/30/49		2,999,871
	3,325,000	g	Arab Petroleum Investments Corp		4.125		09/18/23		3,593,903
	35,219		Argentina Republic Government International Bond		1.000		07/09/29		12,626
	1,013,650		Argentina Republic Government International Bond (Step Bond)		0.125		07/09/30		339,117
INR	140,000,000		Asian Development Bank		6.200		10/06/26		1,948,334
$	1,500,000	g	Bahrain Government International Bond		5.450		09/16/32		1,443,482
	3,000,000	g	Banque Ouest Africaine de Developpement		4.700		10/22/31		3,191,880
EUR	2,100,000	g	Banque Ouest Africaine de Developpement		2.750		01/22/33		2,532,205
$	133,900	g	Barbados Government International Bond		6.500		10/01/29		135,908
	3,450,000	g	Bermuda Government International Bond		3.717		01/25/27		3,743,250
	1,575,000	g	Bermuda Government International Bond		4.750		02/15/29		1,821,330
	550,000	g	Bermuda Government International Bond		2.375		08/20/30		537,625
	3,000,000	g	BNG Bank NV		3.000		09/20/23		3,190,079
	1,452,500	g	Brazil Minas SPE via State of Minas Gerais		5.333		02/15/28		1,575,963
BRL	10,000,000		Brazil Notas do Tesouro Nacional Serie F		10.000		01/01/27		1,874,748
$	1,450,000		Brazilian Government International Bond		3.875		06/12/30		1,406,660
	1,450,000		Brazilian Government International Bond		5.625		02/21/47		1,476,637
	2,000,000		Brazilian Government International Bond		4.750		01/14/50		1,816,140
	5,950,000		Chile Government International Bond		2.550		01/27/32		5,995,815
CNY	16,600,000		China Government Bond		2.880		11/05/23		2,535,035
	5,000,000		China Government Bond		3.270		11/19/30		767,672
	3,300,000		China Government Bond		3.810		09/14/50		512,499
$	3,200,000		Colombia Government International Bond		3.000		01/30/30		3,133,984
	2,700,000		Colombia Government International Bond		5.000		06/15/45		2,876,607
	3,000,000		Colombia Government International Bond		3.875		02/15/61		2,688,750
COP	3,520,000,000		Colombian TES		7.250		10/26/50		877,778
$	900,000	g	Corp Financiera de Desarrollo S.A.		2.400		09/28/27		886,959
	2,925,000	g	Costa Rica Government International Bond		5.625		04/30/43		2,544,750
	1,750,000	g	Development Bank of Japan, Inc		0.500		03/04/24		1,745,686

186

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE

DOP	121,500,000	g	Dominican Republic Government International Bond		8.900	%	02/15/23	$	2,203,497
	90,000,000	g	Dominican Republic Government International Bond		9.750		06/05/26		1,706,147
	120,000,000	g	Dominican Republic Government International Bond		12.000		03/05/32		2,637,681
$	3,000,000	g	Dominican Republic Government International Bond		4.875		09/23/32		3,060,000
	3,000,000	g	Dominican Republic Government International Bond		6.500		02/15/48		3,169,500
	143,196	g	Ecuador Government International Bond		0.000		07/31/30		57,280
	458,325	g	Ecuador Government International Bond (Step Bond)		0.500		07/31/30		266,979
	1,201,102	g	Ecuador Government International Bond (Step Bond)		0.500		07/31/35		546,501
	550,475	g	Ecuador Government International Bond (Step Bond)		0.500		07/31/40		238,080
EUR	3,000,000	g	Egypt Government International Bond		5.625		04/16/30		3,492,418
$	1,625,000	g	Egypt Government International Bond		5.875		02/16/31		1,518,518
	1,050,000	g	Egypt Government International Bond		8.500		01/31/47		1,040,411
	1,875,000	g	Egypt Government International Bond		8.875		05/29/50		1,906,545
	1,200,000	g	El Salvador Government International Bond		7.625		02/01/41		1,155,000
	1,070,000	g	El Salvador Government International Bond		7.125		01/20/50		954,975
	395,000		European Investment Bank		4.875		02/15/36		527,111
	4,400,000	g	Export-Import Bank of India		3.875		02/01/28		4,688,428
	1,200,000	e,g	Export-Import Bank of India		2.250		01/13/31		1,092,019
	2,000,000	e	Export-Import Bank of Korea		0.750		09/21/25		1,956,069
	3,000,000		Export-Import Bank of Korea		1.250		09/21/30		2,773,162
	950,000	g	Ghana Government International Bond		8.125		03/26/32		915,209
	1,500,000	g	Ghana Government International Bond		8.627		06/16/49		1,387,140
	850,000	g	Guatemala Government International Bond		4.500		05/03/26		915,110
	1,550,000	g	Guatemala Government International Bond		4.375		06/05/27		1,658,500
EUR	1,750,000	g	Hellenic Republic Government International Bond		1.875		07/23/26		2,231,659
$	3,200,000	g	Honduras Government International Bond		6.250		01/19/27		3,496,000
	250,000	g	Honduras Government International Bond		5.625		06/24/30		261,250
IDR	28,000,000,000		Indonesia Treasury Bond		7.000		09/15/30		1,949,667
	25,500,000,000		Indonesia Treasury Bond		7.500		08/15/32		1,796,222
$	1,793,750	g	Iraq Government International Bond		5.800		01/15/28		1,694,269
	3,100,000		Israel Government International Bond		3.250		01/17/28		3,415,234
	2,175,000		Israel Government International Bond		4.125		01/17/48		2,501,250
EUR	125,000	g	Ivory Coast Government International Bond		4.875		01/30/32		142,729
$	1,237,154	g	Ivory Coast Government International Bond (Step Bond)		5.750		12/31/32		1,235,241
	3,050,000		Jamaica Government International Bond		7.875		07/28/45		4,132,750
	1,500,000	g	Japan Finance Organization for Municipalities		3.000		03/12/24		1,602,164
	1,750,000	g	Jordan Government International Bond		4.950		07/07/25		1,795,664
	1,500,000	g	Jordan Government International Bond		5.750		01/31/27		1,567,681
	1,375,000	g	Kenya Government International Bond		7.000		05/22/27		1,457,157
	1,000,000	g	Kenya Government International Bond		8.000		05/22/32		1,058,935
	2,080,000	g	Kommunalbanken AS.		2.750		02/05/24		2,214,517
	2,000,000	g	Kommunalbanken AS.		1.125		06/14/30		1,868,844
	3,175,000	g	Korea Electric Power Corp		1.125		06/15/25		3,152,414

187

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	$	1,556,090
MYR	7,600,000		Malaysia Government Bond		3.828		07/05/34		1,819,216
MXN	51,000,000		Mexican Bonos		7.750		05/29/31		2,658,527
$	2,200,000		Mexico Government International Bond		4.150		03/28/27		2,439,382
	3,450,000		Mexico Government International Bond		3.250		04/16/30		3,478,946
	3,424,000		Mexico Government International Bond		6.050		01/11/40		4,109,793
	977,000	g	Mongolia Government International Bond		5.125		12/05/22		1,006,235
	500,000	g	Mongolia Government International Bond		5.125		04/07/26		533,099
	1,025,000	e,g	Morocco Government International Bond		3.000		12/15/32		958,412
	2,825,000	g	Morocco Government International Bond		5.500		12/11/42		3,107,500
	525,000	g	Morocco Government International Bond		4.000		12/15/50		462,527
	2,500,000	g	Namibia Government International Bond		5.250		10/29/25		2,616,070
	2,000,000	g	Nederlandse Waterschapsbank NV		3.125		12/05/22		2,095,680
	1,425,000	g	Nigeria Government International Bond		6.500		11/28/27		1,466,989
	750,000	g	Oman Government International Bond		6.750		10/28/27		826,399
	1,500,000	g	Oman Government International Bond		6.000		08/01/29		1,556,099
	1,500,000	g	Oman Government International Bond		6.250		01/25/31		1,564,972
	3,000,000		Panama Government International Bond		4.300		04/29/53		3,217,020
	3,225,000		Panama Notas del Tesoro		3.750		04/17/26		3,458,490
	475,000	g	Paraguay Government International Bond		4.700		03/27/27		529,630
	725,000	g	Paraguay Government International Bond		5.400		03/30/50		816,720
	3,400,000	g	Perusahaan Penerbit SBSN Indonesia III		3.900		08/20/24		3,684,070
	4,650,000	g	Perusahaan Penerbit SBSN Indonesia III		4.400		03/01/28		5,214,092
	1,825,000		Peruvian Government International Bond		4.125		08/25/27		2,038,160
PEN	6,775,000	g	Peruvian Government International Bond		5.400		08/12/34		1,762,684
$	332,817	g	Petroamazonas EP		4.625		12/06/21		302,863
	2,600,000		Philippine Government International Bond		3.750		01/14/29		2,872,684
	620,000		Province of Quebec Canada		7.500		09/15/29		879,845
	1,500,000	g	Provincia de Mendoza Argentina (Step Bond)		2.750		03/19/29		862,500
	450,000	g	Qatar Government International Bond		3.400		04/16/25		488,762
	1,375,000	g	Qatar Government International Bond		3.750		04/16/30		1,534,079
	2,000,000	g	Qatar Government International Bond		4.400		04/16/50		2,307,226
GHS	14,700,000		Republic of Ghana Government Bonds		16.500		02/06/23		2,529,864
$	5,000,000		Republic of Italy Government International Bond		4.000		10/17/49		5,116,485
	2,200,000	g	Republic of Paraguay		6.100		08/11/44		2,640,000
UZS	7,990,000,000	g	Republic of Uzbekistan Bond		14.500		11/25/23		761,613
$	675,000	g	Republic of Uzbekistan Bond		3.700		11/25/30		653,950
	2,150,000	g	Republic of Uzbekistan Government International Bond		4.750		02/20/24		2,262,799
	2,000,000	g	Romanian Government International Bond		3.000		02/14/31		1,993,901
	1,425,000	g	Romanian Government International Bond		4.000		02/14/51		1,369,012
RUB	147,000,000		Russian Federal Bond-OFZ		6.000		10/06/27		1,867,974
$	1,600,000	g	Russian Foreign Bond - Eurobond		5.100		03/28/35		1,840,320
	2,900,000	g	Saudi Government International Bond		4.500		04/17/30		3,336,494
	2,000,000	g	Saudi Government International Bond		3.750		01/21/55		1,958,200
	1,225,000	g	Serbia International Bond		2.125		12/01/30		1,126,746
RSD	290,000,000		Serbia Treasury Bonds		5.875		02/08/28		3,507,984
$	2,000,000		South Africa Government International Bond		5.875		09/16/25		2,205,600
ZAR	22,300,000		South Africa Government International Bond		7.000		02/28/31		1,233,148
	23,400,000		South Africa Government International Bond		8.750		01/31/44		1,241,413
$	2,200,000		South Africa Government International Bond		5.375		07/24/44		1,998,568
	2,900,000	g	Southern Gas Corridor CJSC		6.875		03/24/26		3,428,960
	2,050,000		State of Israel		3.375		01/15/50		2,071,484

188

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE

THB	49,000,000		Thailand Government International Bond			3.300	%	06/17/38	$	1,714,660
$	1,000,000		Turkey Government International Bond			5.950		01/15/31		903,770
EUR	2,275,000	g	Ukraine Government International Bond			4.375		01/27/30		2,441,526
UYU	98,000,000	g	Uruguay Government International Bond			9.875		06/20/22		2,306,075
$	1,776,946		Uruguay Government International Bond			4.375		01/23/31		2,060,973
	575,000		Uruguay Government International Bond			4.125		11/20/45		639,734
	925,000		Uruguay Government International Bond			5.100		06/18/50		1,145,946
	2,400,000	†,g	Zambia Government International Bond			8.500		04/14/24		1,368,413
			TOTAL FOREIGN GOVERNMENT BONDS							257,299,376

MORTGAGE BACKED - 22.9%
	131		Federal Home Loan Mortgage Corp (FHLMC)			7.500		11/15/21		132
	203		FHLMC			6.000		05/15/22		206
	9,825,000		FHLMC			3.000		10/15/33		10,654,775
	3,208,729		FHLMC			3.500		08/15/43		3,311,438
	12,927,124		FHLMC			3.500		03/15/44		13,566,678
	3,860,596	i	FHLMC	LIBOR 1 M + 5.920%		5.814		03/15/44		713,784
	11,728,849		FHLMC			4.000		10/01/47		12,883,887
	5,560,123	i	FHLMC	LIBOR 1 M + 9.920%		9.750		06/15/48		6,302,852
	1,539,033		FHLMC			3.000		09/01/48		1,617,135
	6,164,797	i	FHLMC	LIBOR 1 M + 9.840%		9.670		10/15/48		7,353,617
	34,051,167		FHLMC			4.000		09/01/49		37,234,180
	14,351,002		FHLMC			2.000		09/25/50		1,739,564
	19,989,785		FHLMC			2.500		11/25/50		3,362,865
	26,010,552		FHLMC			2.500		02/25/51		4,252,450
	625		Federal Home Loan Mortgage Corp Gold (FGLMC)			8.000		01/01/31		641
	7,673		FGLMC			8.000		09/01/31		8,679
	70,943		FGLMC			7.000		12/01/31		81,177
	54,580		FGLMC			4.500		07/01/33		60,747
	387,585		FGLMC			7.000		12/01/33		447,769
	123,307		FGLMC			4.500		04/01/35		137,182
	108,108		FGLMC			7.000		05/01/35		123,007
	2,216,410		FGLMC			5.000		06/01/36		2,578,127
	87,879		FGLMC			5.000		07/01/39		102,300
	1,949,676		FGLMC			5.000		08/01/44		2,267,010
	166,101		FGLMC			4.500		11/01/44		185,352
	115,472		FGLMC			4.500		11/01/44		129,673
	85,455		FGLMC			4.500		12/01/44		94,573
	129,177		FGLMC			4.500		12/01/44		145,224
	774,365		FGLMC			3.500		04/01/45		840,863
	17,206,428		FGLMC			3.500		08/01/45		18,729,413
	19,589,923		FGLMC			3.500		10/01/45		21,255,914
	4,055,591		FGLMC			4.000		12/01/45		4,497,660
	23,380,989		FGLMC			3.500		08/01/46		25,290,830
	17,872,845		FGLMC			3.000		02/01/47		18,904,958
	6,511,494		FGLMC			4.500		06/01/47		7,311,324
	5,316,259		FGLMC			4.000		09/01/47		5,861,449
	6,062,121		FGLMC			3.500		12/01/47		6,547,942
	18,012,495		FGLMC			3.500		03/01/48		19,435,332
	13,907,366		FGLMC			4.000		03/01/48		15,273,034
	3,102,848		FGLMC			4.000		07/01/48		3,391,486
	16,062,673		FGLMC			4.500		08/01/48		17,890,529

189

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE

$	132		Federal National Mortgage Association (FNMA)			8.000	%	07/01/24	$	143
	148		FNMA			7.500		01/01/29		163
	939		FNMA			7.500		03/01/31		1,115
	1,426,148		FNMA			3.500		05/01/32		1,541,154
	64,000,000	h	FNMA			2.500		05/25/32		66,557,500
	4,241,950		FNMA			3.000		10/01/32		4,480,845
	843,944		FNMA			3.500		11/01/32		910,359
	832,974		FNMA			5.000		05/01/35		966,855
	642,907		FNMA			5.000		10/01/35		747,402
	333,405		FNMA			5.000		02/01/36		387,845
	107,000,000	h	FNMA			2.000		04/25/36		109,811,159
	379,029		FNMA			5.500		11/01/38		445,457
	299,880		FNMA			5.500		03/01/39		350,886
	6,674,832		FNMA			3.000		10/01/39		6,950,637
	2,779,031		FNMA			3.000		05/01/40		2,911,224
	648,244		FNMA			5.000		09/01/40		748,875
	307,603		FNMA			4.000		02/01/41		337,301
	597,373		FNMA			5.000		05/01/41		694,964
	9,656,863		FNMA			4.000		09/01/42		10,585,965
	951,422		FNMA			3.500		04/01/43		1,034,183
	3,890,335		FNMA			3.000		04/25/43		4,035,860
	849,668		FNMA			3.500		09/01/43		924,958
	4,372,184	i	FNMA	LIBOR 1 M + 5.950%		5.841		09/25/43		1,026,725
	2,801,926		FNMA			4.000		01/01/44		3,101,463
	2,307,726		FNMA			4.500		03/01/44		2,636,724
	730,739		FNMA			4.500		06/01/44		811,397
	3,596,363		FNMA			4.500		06/01/44		4,036,932
	721,095		FNMA			3.500		07/01/44		778,807
	2,185,773		FNMA			4.500		08/01/44		2,453,191
	2,968,397		FNMA			4.500		10/01/44		3,333,090
	2,268,053		FNMA			4.500		11/01/44		2,546,743
	2,006,148		FNMA			5.000		11/01/44		2,314,668
	557,049		FNMA			4.500		12/01/44		625,201
	2,142,362		FNMA			4.000		01/01/45		2,361,120
	6,276,723		FNMA			3.000		02/25/45		6,546,046
	1,375,073		FNMA			3.000		02/25/45		1,417,301
	182,078		FNMA			3.500		03/01/45		196,042
	156,429		FNMA			3.500		03/01/45		169,609
	1,723,443		FNMA			3.000		03/25/45		1,784,936
	3,852,714		FNMA			3.500		04/25/45		3,996,958
	2,064,490		FNMA			3.500		05/01/45		2,246,210
	3,463,130		FNMA			4.000		06/01/45		3,826,972
	4,571,658		FNMA			4.000		12/01/45		5,055,095
	8,522,903		FNMA			3.000		12/25/45		8,840,847
	4,282,194		FNMA			3.500		01/01/46		4,627,808
	3,907,774		FNMA			4.000		01/01/46		4,309,582
	3,383,973		FNMA			4.000		03/01/46		3,723,142
	3,525,935		FNMA			3.500		06/01/46		3,815,011
	6,610,044		FNMA			3.500		07/01/46		7,150,281
	14,587,927		FNMA			3.500		07/01/46		15,844,068
	3,385,580		FNMA			3.000		10/01/46		3,471,807
	2,027,883		FNMA			3.500		10/01/46		2,193,114
	14,540,034		FNMA			3.000		11/01/46		15,361,322

190

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE

$	2,421,279		FNMA		3.000	%	04/25/47	$	2,574,155
	3,639,745		FNMA		4.500		05/01/47		4,074,970
	1,803,086		FNMA		3.500		09/01/47		1,929,899
	5,782,651	h	FNMA		3.500		09/01/47		6,138,033
	11,528,144		FNMA		4.000		09/01/47		12,456,789
	20,870,715		FNMA		4.000		09/01/47		22,514,916
	1,585,162		FNMA		3.000		11/01/47		1,624,098
	2,098,060		FNMA		3.000		11/01/47		2,151,649
	7,203,412		FNMA		3.500		11/01/47		7,805,608
	20,141,514		FNMA		4.000		12/01/47		22,125,151
	601,565		FNMA		4.000		12/01/47		649,128
	10,264,885		FNMA		3.500		01/01/48		11,071,080
	3,338,998		FNMA		3.500		01/01/48		3,602,559
	4,239,139		FNMA		4.500		01/01/48		4,714,763
	1,727,464		FNMA		4.500		02/01/48		1,923,301
	21,046,138		FNMA		3.000		02/25/48		22,239,760
	22,591,792		FNMA		3.500		03/01/48		23,959,666
	3,514,102		FNMA		4.000		03/01/48		3,857,813
	7,384,901		FNMA		4.500		03/01/48		8,222,091
	14,932,968		FNMA		3.500		04/01/48		15,831,352
	3,029,282		FNMA		4.500		05/01/48		3,372,720
	2,261,211		FNMA		4.500		05/01/48		2,517,575
	5,937,854	h	FNMA		4.000		06/01/48		6,382,769
	3,437,013		FNMA		5.000		08/01/48		3,893,265
	4,190,660		FNMA		3.000		11/01/48		4,371,861
	75,179		FNMA		3.000		05/01/49		77,070
	1,050,359		FNMA		3.000		06/01/49		1,076,684
	3,538,832		FNMA		3.000		08/01/49		3,754,354
	10,563,313		FNMA		3.000		01/25/50		11,018,213
	24,889,062		FNMA		3.000		07/01/50		26,480,216
	9,042,487		FNMA		2.000		08/25/50		1,119,512
	8,817,449		FNMA		3.000		02/25/51		1,408,888
	63,265,000	h	FNMA		2.000		04/25/51		63,146,379
	94,990,000	h	FNMA		2.500		04/25/51		97,476,067
	184,850,000	h	FNMA		3.000		04/25/51		192,540,048
	211,365,000	h	FNMA		2.500		05/25/51		216,442,714
	161,750,000	h	FNMA		2.000		05/25/51		161,149,757
	36,032		Government National Mortgage Association (GNMA)		6.500		11/20/38		43,331
	11,397		GNMA		4.500		02/20/39		13,513
	325,370		GNMA		5.000		06/15/39		378,613
	15,428		GNMA		4.500		08/20/41		17,923
	35,929		GNMA		4.500		09/20/41		41,143
	10,797		GNMA		4.500		01/20/44		12,805
	6,783		GNMA		4.500		02/20/44		7,758
	21,459		GNMA		4.500		05/20/44		25,453
	97,982		GNMA		4.500		05/20/44		112,216
	155,172		GNMA		4.500		08/20/44		183,700
	89,861		GNMA		4.500		09/20/44		103,407
	53,054		GNMA		4.500		10/20/44		60,501
	27,064		GNMA		4.500		11/20/44		29,570
	77,718		GNMA		4.500		12/20/44		90,214

191

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE

$	122,775		GNMA		4.500	%	02/20/45	$	143,859
	176,866		GNMA		4.500		08/20/45		209,828
	141,832		GNMA		4.500		08/20/45		165,774
	104,516		GNMA		4.500		12/20/45		119,740
	3,552,248		GNMA		4.000		06/20/46		466,999
	7,742,306		GNMA		3.500		01/20/49		8,432,540
	63,402,449		GNMA		3.000		08/20/50		66,088,288
	46,060,000	h	GNMA		2.000		04/20/51		46,506,207
	182,550,000	h	GNMA		2.500		04/20/51		188,354,520
	47,520,000	h	GNMA		3.000		04/20/47		49,504,331
	48,600,000	h	GNMA		2.000		05/20/51		48,991,078
			TOTAL MORTGAGE BACKED						1,995,411,004

MUNICIPAL BONDS - 2.0%
	6,695,000		Alabama Economic Settlement Authority		3.163		09/15/25		7,022,551
	990,000		Chicago Housing Authority		3.682		01/01/25		1,075,575
	380,000		City & County of San Francisco CA Community Facilities District		3.028		09/01/23		397,558
	550,000		City & County of San Francisco CA Community Facilities District		4.038		09/01/34		605,307
	4,945,000		City of New York NY		3.200		12/01/26		5,446,563
	2,215,000		Commonwealth Financing Authority		3.864		06/01/38		2,473,618
	815,000		County of Miami-Dade FL Aviation Revenue		1.885		10/01/21		821,774
	1,060,000		County of Miami-Dade FL Aviation Revenue		1.885		10/01/21		1,068,080
	1,500,000		County of Miami-Dade FL Aviation Revenue		2.218		10/01/22		1,540,626
	2,500,000		County of Miami-Dade FL Aviation Revenue		3.285		10/01/23		2,667,995
	3,500,000		County of Miami-Dade FL Aviation Revenue		2.504		10/01/24		3,680,887
	2,250,000		County of Miami-Dade FL Aviation Revenue		3.405		10/01/24		2,435,632
	3,500,000		County of Miami-Dade FL Aviation Revenue		2.604		10/01/25		3,684,239
	2,380,000		County of Miami-Dade FL Aviation Revenue		3.505		10/01/25		2,598,286
	2,500,000		County of Miami-Dade FL Aviation Revenue		2.704		10/01/26		2,631,244
	2,000,000		County of Miami-Dade FL Aviation Revenue		3.049		10/01/26		2,141,011
	3,750,000		County of Miami-Dade FL Aviation Revenue		3.612		10/01/26		4,124,596
	470,000		County of Miami-Dade FL Aviation Revenue		4.280		10/01/41		505,885
	4,265,000		Denver City & County School District No. 1		3.598		12/15/27		4,757,834
	1,000,000		Los Angeles County Redevelopment Agency		2.000		09/01/22		1,023,616
	4,805,000		Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy		3.375		09/01/35		5,049,584
	6,650,000		Michigan Finance Authority		2.988		09/01/49		7,091,777
	3,400,000		New Jersey Economic Development Authority		7.425		02/15/29		4,349,152
	4,075,000		New York State Dormitory Authority		4.294		07/01/44		4,471,696
	810,000		Oklahoma City Economic Development Trust		3.440		09/01/24		885,693
	2,000,000		Port of Seattle WA		3.471		05/01/31		2,137,696
	1,625,000		Port of Seattle WA		3.571		05/01/32		1,742,503
	1,000,000		Regents of the University of California Medical Center Pooled Revenue		2.037		05/15/23		1,032,944
	1,000,000		Regents of the University of California Medical Center Pooled Revenue		2.259		05/15/24		1,048,137
	1,250,000		Regents of the University of California Medical Center Pooled Revenue		2.359		05/15/25		1,315,894
	1,785,000		Regents of the University of California Medical Center Pooled Revenue		2.459		05/15/26		1,878,446
	1,600,000		Regents of the University of California Medical Center Pooled Revenue		2.559		05/15/27		1,680,995

192

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE

$	905,000		Regents of the University of California Medical Center Pooled Revenue		2.759	%	05/15/29	$	949,894
	3,980,000		Rhode Island Convention Center Authority		3.195		05/15/26		4,068,783
	5,000,000		San Francisco City & County Redevelopment Agency		2.813		08/01/21		5,036,484
	875,000		San Francisco City & County Redevelopment Agency		3.113		08/01/22		903,229
	6,365,000		San Jose Redevelopment Agency		3.375		08/01/34		6,797,317
	660,000		Santa Ana Community Redevelopment Agency Successor Agency		3.567		09/01/23		708,557
	13,060,000		State of California		4.600		04/01/38		15,083,433
	21,060,000		State of Illinois		5.100		06/01/33		23,710,677
	10,500,000		State of Michigan		1.779		11/01/21		10,599,122
	9,900,000		State of Wisconsin		3.154		05/01/27		10,868,588
	1,763,000		State Public School Building Authority		5.000		09/15/27		2,085,115
	7,500,000		Texas A&M University		3.993		05/15/37		8,271,571
	2,000,000		University of California		2.439		05/15/24		2,109,871
	2,000,000		University of California		2.589		05/15/25		2,125,556
			TOTAL MUNICIPAL BONDS						176,705,591

U.S. TREASURY SECURITIES - 11.6%
	2,250,000	e	United States Treasury Bond		4.750		02/15/37		3,077,227
	36,875,000		United States Treasury Bond		3.500		02/15/39		44,216,870
	16,015,000		United States Treasury Bond		3.875		08/15/40		20,192,663
	12,000,000		United States Treasury Bond		3.125		11/15/41		13,666,406
	1,380,000		United States Treasury Bond		2.500		05/15/46		1,406,306
	10,450,000		United States Treasury Bond		3.000		05/15/47		11,696,652
	1,255,000		United States Treasury Bond		2.750		08/15/47		1,341,379
	42,835,000		United States Treasury Bond		2.750		11/15/47		45,798,312
	55,445,000		United States Treasury Bond		3.000		02/15/48		62,152,545
	510,000		United States Treasury Bond		3.125		05/15/48		584,866
	45,841,000		United States Treasury Bond		3.375		11/15/48		55,053,967
	19,081,168	k	United States Treasury Inflation Indexed Bonds		0.500		04/15/24		20,682,694
	8,600,000		United States Treasury Note		0.125		08/31/22		8,600,000
	4,800,000		United States Treasury Note		0.125		10/31/22		4,799,438
	1,640,000		United States Treasury Note		0.125		12/31/22		1,639,295
	9,220,000		United States Treasury Note		0.125		01/31/23		9,215,678
	23,490,000		United States Treasury Note		0.125		02/28/23		23,475,319
	536,271,000		United States Treasury Note		0.250		03/15/24		534,846,530
	3,300,000		United States Treasury Note		0.375		11/30/25		3,227,941
	4,082,000		United States Treasury Note		0.375		12/31/25		3,986,488
	55,595,000		United States Treasury Note		0.750		03/31/26		55,112,887
	9,650,000		United States Treasury Note		0.500		10/31/27		9,139,983
	2,530,000		United States Treasury Note		0.625		12/31/27		2,409,133
	850,000		United States Treasury Note		0.750		01/31/28		814,938
	550,000		United States Treasury Note		1.125		02/29/28		540,375
	725,000		United States Treasury Note		1.250		03/31/28		717,523
	130,000		United States Treasury Note		3.125		11/15/28		145,382
	250,000	e	United States Treasury Note		1.125		02/15/31		236,211
	14,575,000		United States Treasury Note		1.875		02/15/41		13,570,691
	2,481,000		United States Treasury Note		1.250		05/15/50		1,872,283
	3,880,000		United States Treasury Note		1.375		08/15/50		3,027,613

193

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE

$	3,500,000		United States Treasury Note			1.625	%	11/15/50	$	2,916,484
	56,000,000		United States Treasury Note			1.875		02/15/51		49,700,000
			TOTAL U.S. TREASURY SECURITIES							1,009,864,079

			TOTAL GOVERNMENT BONDS							3,489,149,218
			(Cost $3,426,670,932)

STRUCTURED ASSETS - 15.0%

ASSET BACKED - 7.3%
	950,000	g	Affirm Asset Securitization Trust			1.660		08/15/25		954,097
			Series - 2021 A (Class C)
	5,000,000	g,i	AGL CLO 7 Ltd	LIBOR 3 M + 1.800%		2.041		07/15/31		5,010,550
			Series - 2020 7A (Class A1)
	7,500,000	g,i	AIMCO CLO Ltd	LIBOR 3 M + 1.380%		1.605		10/15/31		7,513,515
			Series - 2020 11A (Class A1)
	10,000,000	g,h,i	AIMCO CLO Series	LIBOR 3 M + 1.050%		0.000		04/20/34		10,001,060
			Series - 2017 AA (Class AR)
	10,000,000	g,h,i	AIMCO CLO Series	LIBOR 3 M + 1.500%		0.000		04/20/34		10,001,060
			Series - 2017 AA (Class BR)
	2,000,000	g,i	Allegany Park CLO Ltd	LIBOR 3 M + 1.330%		1.554		01/20/33		2,003,086
			Series - 2019 1A (Class A)
	302,464		American Airlines Pass Through Trust			3.575		01/15/28		306,234
			Series - 2016 1 (Class AA)
	6,900,000		American Express Credit Account Master Trust			2.670		11/15/24		7,074,362
			Series - 2019 2 (Class A)
	813,582	g	American Homes 4 Rent Trust			3.786		10/17/36		869,365
			Series - 2014 SFR2 (Class A)
	3,250,000		AmeriCredit Automobile Receivables Trust			0.660		12/18/24		3,262,588
			Series - 2020 2 (Class A3)
	1,000,000		AmeriCredit Automobile Receivables Trust			2.130		03/18/26		1,029,560
			Series - 2020 2 (Class D)
	17,000,000		AmeriCredit Automobile Receivables Trust			1.210		12/18/26		16,908,246
			Series - 2021 1 (Class D)
	1,233,816	g	AMSR Trust			1.819		04/17/37		1,248,491
			Series - 2020 SFR1 (Class A)
	2,000,000	g	AMSR Trust			3.148		01/19/39		2,077,231
			Series - 2019 SFR1 (Class C)
	1,700,000	g	AMSR Trust			3.247		01/19/39		1,758,905
			Series - 2019 SFR1 (Class D)
	2,736,250	g	Applebee’s Funding LLC			4.194		06/07/49		2,809,855
			Series - 2019 1A (Class A2I)
	392,308	†,i	ARTS Ltd	LIBOR 3 M + 1.780%		1.964		09/15/21		389,954
			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)
	841,414	i	Asset Backed Securities Corp Home Equity Loan Trust	LIBOR 1 M + 0.900%		3.386		08/25/34		822,444
			Series - 2004 HE5 (Class M1)
	4,000,000	g	Avis Budget Rental Car Funding AESOP LLC			3.450		03/20/23		4,089,134
			Series - 2019 1A (Class A)
	6,000,000	g	Avis Budget Rental Car Funding AESOP LLC			3.070		09/20/23		6,190,655
			Series - 2017 1A (Class A)

194

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE

$	8,500,000	g	Avis Budget Rental Car Funding AESOP LLC			2.970	%	03/20/24	$	8,848,494
			Series - 2017 2A (Class A)
	2,000,000	i	Bayview Financial Mortgage Pass-Through Trust	LIBOR 1 M + 0.975%		1.084		02/28/41		1,997,009
			Series - 2006 A (Class M3)
	6,329,032	i	Bear Stearns Asset Backed Securities Trust	LIBOR 1 M + 1.005%		1.114		04/25/36		6,315,091
			Series - 2006 SD1 (Class M1)
	1,500,000	g,i	Bonanza RE Ltd	U.S. Treasury Bill 3 M + 4.750%		4.765		12/23/24		1,513,200
	1,562,468	g	BRE Grand Islander Timeshare Issuer LLC			3.280		09/26/33		1,635,684
			Series - 2019 A (Class A)
	5,516,328	g	Capital Automotive REIT			3.660		10/15/44		5,523,890
			Series - 2014 1A (Class A)
	12,494,427	g	Capital Automotive REIT			3.870		04/15/47		12,515,276
			Series - 2017 1A (Class A1)
	5,568,674	g	Capital Automotive REIT			2.690		02/15/50		5,756,500
			Series - 2020 1A (Class A1)
	1,075,000		Carmax Auto Owner Trust			1.280		07/15/27		1,062,328
			Series - 2021 1 (Class D)
	5,885,250	g	Cars Net Lease Mortgage Notes Series			2.010		12/15/50		5,783,097
			Series - 2020 1A (Class A1)
	9,987,500	g	Cars Net Lease Mortgage Notes Series			3.100		12/15/50		10,143,502
			Series - 2020 1A (Class A3)
	12,500,000	g,i	Cayuga Park CLO, Ltd.	LIBOR 3 M + 1.600%		1.823		07/17/31		12,519,762
			Series - 2020 1A (Class A)
	554,272	i	C-BASS Trust	LIBOR 1 M + 0.080%		0.189		07/25/36		537,733
			Series - 2006 CB6 (Class A1)
	8,817,685	†,g,i	CBRE Realty Finance	LIBOR 3 M + 0.300%		0.520		04/07/52		22,044
			Series - 2007 1A (Class A2)
	9,305,194	g	CF Hippolyta LLC			1.690		07/15/60		9,374,758
			Series - 2020 1 (Class A1)
	2,843,993	g	CF Hippolyta LLC			1.990		07/15/60		2,819,484
			Series - 2020 1 (Class A2)
	1,908,758	g	CF Hippolyta LLC			2.280		07/15/60		1,940,619
			Series - 2020 1 (Class B1)
	7,105,000		Chase Issuance Trust			1.530		01/15/25		7,262,811
			Series - 2020 A1 (Class A1)
	1,500,000	g,i	CIFC Funding Ltd	LIBOR 3 M + 1.220%		1.444		07/20/30		1,500,531
			Series - 2017 3A (Class A1)
	5,000,000	g,i	CIFC Funding Ltd	LIBOR 3 M + 1.650%		1.874		08/24/32		5,016,535
			Series - 2020 2A (Class A1)
	32,763		CIT Group Home Equity Loan Trust (Step Bond)			6.200		02/25/30		33,555
			Series - 2002 1 (Class AF6)
	1,200,178	g	Corevest American Finance Trust			1.832		03/15/50		1,219,582
			Series - 2020 1 (Class A1)
	1,615,400	g	DB Master Finance LLC			3.787		05/20/49		1,648,338
			Series - 2019 1A (Class A2I)
	1,108,125	g	DB Master Finance LLC			4.352		05/20/49		1,196,709
			Series - 2019 1A (Class A23)
	2,328,379	g	Diamond Resorts Owner Trust			2.890		02/20/32		2,402,880
			Series - 2019 1A (Class A)
	3,300,000	i	Discover Card Execution Note Trust	LIBOR 1 M + 0.360%		0.466		10/15/22		3,313,717
			Series - 2017 A7 (Class A7)

195

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE

$	2,585,250	g	Domino’s Pizza Master Issuer LLC			4.474	%	10/25/45	$	2,729,972
			Series - 2015 1A (Class A2II)
	572,300	g,i	Domino’s Pizza Master Issuer LLC	LIBOR 3 M + 1.250%		1.468		07/25/47		572,266
			Series - 2017 1A (Class A2I)
	13,313,250	g	Domino’s Pizza Master Issuer LLC			3.082		07/25/47		13,334,418
			Series - 2017 1A (Class A2II)
	2,346,000	g	Domino’s Pizza Master Issuer LLC			4.116		07/25/48		2,465,153
			Series - 2018 1A (Class A2I)
	3,800,000	g,h,i	Dryden 49 Senior Loan Fund	LIBOR 3 M + 1.600%		0.000		07/18/30		3,800,000
			Series - 2017 49A (Class BR)
	5,920,000	g,i	Dryden 50 Senior Loan Fund	LIBOR 3 M + 1.220%		1.461		07/15/30		5,921,024
			Series - 2017 50A (Class A1)
	11,800,000	g	DT Auto Owner Trust			1.160		11/16/26		11,750,913
			Series - 2021 1A (Class D)
	3,374,333	g,i	Ellington Loan Acquisition Trust	LIBOR 1 M + 1.100%		1.209		05/25/37		3,379,547
			Series - 2007 2 (Class A2C)
	25,538,715	g	FNA VI LLC			1.350		01/10/32		25,499,475
			Series - 2021 1A (Class A)
	1,213,682	g	HERO Funding Trust			3.190		09/20/48		1,268,606
			Series - 2017 3A (Class A1)
	444,745	g	HERO Funding Trust			3.280		09/20/48		457,712
			Series - 2017 2A (Class A1)
	1,577,787	g	HERO Funding Trust			3.950		09/20/48		1,673,604
			Series - 2017 3A (Class A2)
	889,490	g	HERO Funding Trust			4.070		09/20/48		917,494
			Series - 2017 2A (Class A2)
	435,588	g	Hertz Vehicle Financing II LP			3.710		03/25/23		437,342
			Series - 2019 1A (Class A)
	2,439,033	g	Hertz Vehicle Financing II LP			3.290		02/25/24		2,445,733
			Series - 2018 1A (Class A)
	394,502	g	Hertz Vehicle Financing II LP			3.420		05/25/25		395,539
			Series - 2019 2A (Class A)
	1,184,285	g	Hertz Vehicle Financing LLC			4.030		07/25/24		1,189,808
			Series - 2018 3A (Class A)
	1,096,551	g	Hilton Grand Vacations Trust			2.660		12/26/28		1,124,753
			Series - 2017 AA (Class A)
	822,413	g	Hilton Grand Vacations Trust			2.960		12/26/28		837,612
			Series - 2017 AA (Class B)
	1,633,028	g	Hilton Grand Vacations Trust			2.340		07/25/33		1,683,398
			Series - 2019 AA (Class A)
	135,391	i	Home Equity Asset Trust	LIBOR 1 M + 1.500%		3.986		06/25/33		136,777
			Series - 2003 1 (Class M1)
	4,182,167	g	Horizon Aircraft Finance II Ltd			3.721		07/15/39		4,177,792
			Series - 2019 1 (Class A)
	4,529,036	g	Horizon Aircraft Finance III Ltd			3.425		11/15/39		4,471,375
			Series - 2019 2 (Class A)
	199,960	g,i	Invitation Homes Trust	LIBOR 1 M + 1.450%		1.556		06/17/37		200,124
			Series - 2018 SFR2 (Class D)
	800,000	g,i	Invitation Homes Trust	LIBOR 1 M + 1.250%		1.358		01/17/38		803,772
			Series - 2018 SFR4 (Class B)
	1,400,000	g,i	Invitation Homes Trust	LIBOR 1 M + 1.650%		1.758		01/17/38		1,408,044
			Series - 2018 SFR4 (Class D)
	1,321,207	i	JP Morgan Mortgage Acquisition Trust	LIBOR 1 M + 0.320%		0.429		03/25/37		1,308,468
			Series - 2007 CH3 (Class A1B)

196

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE

$	4,540,637	i	JP Morgan Mortgage Acquisition Trust	LIBOR 1 M + 0.160%		0.269	%	06/25/37	$	4,466,729
			Series - 2007 CH5 (Class A1)
	5,250,000	g,i	La Vie Re Ltd	LIBOR 3 M + 2.850%		2.981		10/06/23		5,250,000
	958,647	g	Laurel Road Prime Student Loan Trust			0.720		11/25/50		959,128
			Series - 2020 A (Class A1FX)
	7,250,000	g,i	Madison Park Funding X Ltd	LIBOR 3 M + 1.600%		1.800		01/20/29		7,250,159
			Series - 2012 10A (Class BR3)
	530,000	g,i	Magnetite XVIII Ltd	LIBOR 3 M + 1.500%		1.694		11/15/28		529,111
			Series - 2016 18A (Class BR)
	184,092	g	Mid-State Capital Trust			7.000		12/15/45		190,608
			Series - 2010 1 (Class B)
	388,891	g	MVW Owner Trust			2.520		12/20/32		390,629
			Series - 2015 1A (Class A)
	3,009,440	g	MVW Owner Trust			3.000		11/20/36		3,061,071
			Series - 2019 1A (Class B)
	4,281,016	g	Navient Private Education Refi Loan Trust			1.310		01/15/69		4,307,941
			Series - 2020 HA (Class A)
	2,000,000	g	Navient Private Education Refi Loan Trust			2.780		01/15/69		1,958,941
			Series - 2020 HA (Class B)
	2,085,058	g	Navient Student Loan Trust			3.390		12/15/59		2,198,392
			Series - 2019 BA (Class A2A)
	16,000,000	g,h,i	Neuberger Berman Loan Advisers CLO 31 Ltd	LIBOR 3 M + 1.550%		0.000		04/20/31		16,000,000
			Series - 2019 31A (Class BR)
	6,750,000	g,i	Neuberger Berman Loan Advisers Clo 40 Ltd	LIBOR 3 M + 1.400%		1.588		04/16/33		6,751,390
			Series - 2021 40A (Class B)
	5,724,955	g	Oak Street Investment Grade Net Lease Fund Series			1.480		01/20/51		5,699,750
			Series - 2021 1A (Class A1)
	8,500,000	g,i	Octagon Investment Partners 46 Ltd	LIBOR 3 M + 1.650%		1.891		07/15/33		8,514,195
			Series - 2020 2A (Class A)
	9,500,000	g,i	OHA Credit Funding 7 Ltd	LIBOR 3 M + 1.250%		1.475		10/19/32		9,508,968
			Series - 2020 7A (Class A)
	9,255,000	g	OneMain Financial Issuance Trust			3.840		05/14/32		9,709,983
			Series - 2020 1A (Class A)
	10,000,000	g	OneMain Financial Issuance Trust			1.750		09/14/35		10,021,168
			Series - 2020 2A (Class A)
	7,250,000	g	Oportun Funding XIV LLC			1.210		03/08/28		7,247,519
			Series - 2021 A (Class A)
	946,929	g	Orange Lake Timeshare Trust			3.100		11/08/30		975,741
			Series - 2018 A (Class A)
	3,500,000	g	PFS Financing Corp			0.930		08/15/24		3,520,447
			Series - 2020 F (Class A)
	5,300,000	g	PFS Financing Corp			1.270		06/15/25		5,371,654
			Series - 2020 A (Class A)
	2,500,000	g	PFS Financing Corp			1.000		10/15/25		2,515,022
			Series - 2020 E (Class A)
	3,688,000	g	PFS Financing Corp			0.970		02/15/26		3,702,672
			Series - 2020 G (Class A)
	3,000,000	g	PFS Financing Corp			0.710		04/15/26		2,984,691
			Series - 2021 A (Class A)
	6,750,000	g	PFS Financing Corp			0.960		04/15/26		6,705,894
			Series - 2021 A (Class B)
	200,000	g	Progress Residential Trust			2.937		10/17/36		203,374
			Series - 2019 SFR4 (Class B)

197

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE

$	750,120	i	RASC Trust	LIBOR 1 M + 0.590%		3.080	%	08/25/35	$	750,364
			Series - 2005 KS8 (Class M4)
	5,320,806	g	Renew			3.950		09/20/53		5,696,891
			Series - 2018 1 (Class A)
	6,600,000		Santander Drive Auto Receivables Trust			2.220		09/15/26		6,773,219
			Series - 2020 2 (Class D)
	5,000,000	g	ServiceMaster Funding LLC			2.841		10/30/51		5,106,350
			Series - 2020 1 (Class A2I)
	11,869,750	g	SERVPRO Master Issuer LLC			3.882		10/25/49		12,240,324
			Series - 2019 1A (Class A2)
	10,000,000	g	SERVPRO Master Issuer LLC			2.394		04/25/51		9,878,951
			Series - 2021 1A (Class A2)
	3,776,534	†,g	Settlement Fee Finance LLC			3.840		11/01/49		3,737,447
			Series - 2019 1A (Class A)
	817,552	g	Sierra Timeshare Receivables Funding LLC			2.430		10/20/33		823,397
			Series - 2016 3A (Class A)
	503,109	g	Sierra Timeshare Receivables Funding LLC			2.630		10/20/33		505,061
			Series - 2016 3A (Class B)
	2,551,869	g	Sierra Timeshare Receivables Funding LLC			2.910		03/20/34		2,590,582
			Series - 2017 1A (Class A)
	173,125	g	Sierra Timeshare Receivables Funding LLC			3.200		03/20/34		175,052
			Series - 2017 1A (Class B)
	2,087,798	g	Sierra Timeshare Receivables Funding LLC			3.650		06/20/35		2,155,989
			Series - 2018 2A (Class B)
	1,799,793	g	Sierra Timeshare Receivables Funding LLC			3.200		01/20/36		1,865,757
			Series - 2019 1A (Class A)
	4,450,000	g	Sierra Timeshare Receivables Funding LLC			0.990		11/20/37		4,438,934
			Series - 2021 1A (Class A)
	4,825,000	g	Sierra Timeshare Receivables Funding LLC			1.340		11/20/37		4,813,322
			Series - 2021 1A (Class B)
	2,675,000	g	Sierra Timeshare Receivables Funding LLC			1.790		11/20/37		2,679,262
			Series - 2021 1A (Class C)
	4,503,637	g	SMB Private Education Loan Trust			2.430		02/17/32		4,610,716
			Series - 2016 B (Class A2A)
	2,961,382	g	SMB Private Education Loan Trust			2.880		09/15/34		3,085,971
			Series - 2017 A (Class A2A)
	2,400,801	g	SMB Private Education Loan Trust			2.820		10/15/35		2,489,680
			Series - 2017 B (Class A2A)
	1,571,578	g	SoFi Professional Loan Program LLC			2.340		04/25/33		1,600,828
			Series - 2016 D (Class A2B)
	1,537,096	g	SoFi Professional Loan Program LLC			2.490		01/25/36		1,553,631
			Series - 2016 E (Class A2B)
	1,016,025	g	SoFi Professional Loan Program LLC			2.760		12/26/36		1,030,851
			Series - 2016 A (Class A2)
	1,329,997	g	SoFi Professional Loan Program LLC			2.400		03/26/40		1,346,358
			Series - 2017 A (Class A2B)
	2,033,083	g	SoFi Professional Loan Program LLC			2.740		05/25/40		2,068,753
			Series - 2017 B (Class A2FX)
	939,941	g	SoFi Professional Loan Program LLC			2.630		07/25/40		954,986
			Series - 2017 C (Class A2B)
	2,294,102	g	SoFi Professional Loan Program LLC			2.720		11/26/40		2,330,616
			Series - 2017 E (Class A2B)
	4,107,081	g	SoFi Professional Loan Program LLC			2.840		01/25/41		4,203,269
			Series - 2017 F (Class A2FX)

198

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE

$	1,933,330	g	SoFi Professional Loan Program LLC			2.060	%	05/15/46	$	1,944,354
			Series - 2020 A (Class A1FX)
	2,512,270	g	SoFi Professional Loan Program LLC			3.690		06/15/48		2,620,947
			Series - 2019 A (Class A2FX)
	1,246,747	g	SolarCity LMC			4.800		11/20/38		1,309,425
			Series - 2013 1 (Class A)
	1,568,568	g	SolarCity LMC			4.020		07/20/44		1,589,394
			Series - 2014 2 (Class A)
	13,769,200	g	Sonic Capital LLC			3.845		01/20/50		14,268,747
			Series - 2020 1A (Class A2I)
	8,452,307	g	SpringCastle America Funding LLC			1.970		09/25/37		8,518,406
			Series - 2020 AA (Class A)
	5,500,000	g	Stack Infrastructure Issuer LLC			1.893		08/25/45		5,513,418
			Series - 2020 1A (Class A2)
	204,662	i	Structured Asset Investment Loan Trust	LIBOR 1 M + 0.900%		1.009		09/25/34		197,868
			Series - 2004 8 (Class M1)
	950,242	i	Structured Asset Investment Loan Trust	LIBOR 1 M + 1.000%		1.109		09/25/34		946,762
			Series - 2004 8 (Class A9)
	1,828,750	g	Taco Bell Funding LLC			4.970		05/25/46		1,981,633
			Series - 2016 1A (Class A23)
	18,816,875	g	Taco Bell Funding LLC			4.318		11/25/48		18,909,454
			Series - 2018 1A (Class A2I)
	4,000,000	g	Tesla Auto Lease Trust			0.680		12/20/23		4,020,254
			Series - 2020 A (Class A3)
	1,000,000	g	Tesla Auto Lease Trust			0.780		12/20/23		1,006,355
			Series - 2020 A (Class A4)
	258,120	g	TLF National Tax Lien Trust			3.090		12/15/29		259,756
			Series - 2017 1A (Class A)
	67,302	g	TLF National Tax Lien Trust			3.840		12/15/29		67,736
			Series - 2017 1A (Class B)
	8,800,000		Toyota Auto Receivables Owner Trust			1.660		05/15/24		8,947,305
			Series - 2020 A (Class A3)
	526,803	g	Tricon American Homes Trust			2.716		09/17/34		530,266
			Series - 2017 SFR1 (Class A)
	2,200,000	g	Tricon American Homes Trust			4.011		09/17/34		2,226,980
			Series - 2017 SFR1 (Class E)
	98,934	g	Tricon American Homes Trust			2.928		01/17/36		101,273
			Series - 2017 SFR2 (Class A)
	500,000	g	Tricon American Homes Trust			3.275		01/17/36		510,325
			Series - 2017 SFR2 (Class B)
	4,750,000	g,i	Ursa Re II Ltd	U.S. Treasury Bill 3 M + 3.750%		3.765		12/07/23		4,854,975
	12,200,000		Verizon Owner Trust			1.850		07/22/24		12,444,947
			Series - 2020 A (Class A1A)
	7,894,807	g	Vine			2.790		11/15/50		7,734,276
			Series - 2020 1A (Class A)
	13,172,513	g	Wendys Funding LLC			3.573		03/15/48		13,540,157
			Series - 2018 1A (Class A2I)
	8,300,000		World Omni Auto Receivables Trust			1.700		01/17/23		8,449,104
			Series - 2020 A (Class A3)
			TOTAL ASSET BACKED							632,610,098

199

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE

OTHER MORTGAGE BACKED - 7.7%
$	4,180,000	g,i	ACRE Commercial Mortgage Ltd	LIBOR 1 M + 0.830%		0.938	%	12/18/37	$	4,166,986
			Series - 2021 FL4 (Class A)
	356,785	g,i	Agate Bay Mortgage Trust			3.500		11/25/44		361,450
			Series - 2014 3 (Class A13)
	192,730	g,i	Agate Bay Mortgage Trust			3.500		09/25/45		195,043
			Series - 2015 6 (Class A9)
	325,062	i	Alternative Loan Trust	LIBOR 1 M + 0.750%		0.859		06/25/34		333,455
			Series - 2004 8CB (Class M1)
	408,273	i	American Home Mortgage Investment Trust	LIBOR 6 M + 1.500%		1.720		10/25/34		415,979
			Series - 2004 3 (Class 4A)
	609,051	i	Ameriquest Mortgage Securities	LIBOR 1 M + 1.020%		1.129		10/25/34		608,210
			Series - 2004 R9 (Class M3)
	2,486,000		Banc of America Commercial Mortgage Trust			3.705		09/15/48		2,722,031
			Series - 2015 UBS7 (Class A4)
	1,910,000	i	Banc of America Commercial Mortgage Trust			4.360		09/15/48		2,003,782
			Series - 2015 UBS7 (Class B)
	6,000,000		Banc of America Commercial Mortgage Trust			3.366		02/15/50		6,440,475
			Series - 2017 BNK3 (Class ASB)
	5,000,000		BANK			3.731		11/15/50		5,470,044
			Series - 2017 BNK8 (Class AS)
	1,250,000	i	BANK			3.927		11/15/50		1,357,820
			Series - 2017 BNK8 (Class B)
	1,000,000	i	BANK			4.071		11/15/50		1,047,396
			Series - 2017 BNK8 (Class C)
	2,500,000		BANK			3.203		12/15/52		2,647,272
			Series - 2019 BN23 (Class AS)
	1,637,000		BANK			3.455		12/15/52		1,727,694
			Series - 2019 BN23 (Class B)
	7,500,000		BANK			3.289		07/15/60		8,058,793
			Series - 2017 BNK6 (Class ASB)
	2,000,000	i	BANK			3.283		11/15/62		2,139,515
			Series - 2019 BN24 (Class AS)
	2,000,000	g	BBCMS Mortgage Trust			3.821		09/05/32		1,987,776
			Series - 2013 TYSN (Class C)
	1,250,000	g,i	BBCMS Mortgage Trust			4.267		08/05/38		1,065,587
			Series - 2018 CHRS (Class E)
	2,000,000	g,i	Bear Stearns Commercial Mortgage Securities Trust			4.945		02/11/41		1,645,448
			Series - 2005 PWR7 (Class E)
	1,000,000	g,i	Benchmark Mortgage Trust			2.791		09/15/48		1,001,263
			Series - 2020 IG2 (Class AM)
	2,500,000	g,i	Benchmark Mortgage Trust			3.131		09/15/48		2,570,293
			Series - 2020 IG3 (Class AS)
	2,500,000	g,i	Benchmark Mortgage Trust			3.536		09/15/48		2,610,716
			Series - 2020 IG3 (Class BXA)
	1,380,000		Benchmark Mortgage Trust			4.016		03/15/52		1,547,941
			Series - 2019 B9 (Class A5)
	1,500,000		Benchmark Mortgage Trust			3.419		08/15/52		1,599,814
			Series - 2019 B12 (Class AS)
	1,200,000	i	Benchmark Mortgage Trust			4.510		05/15/53		1,383,207
			Series - 2018 B7 (Class A4)
	1,500,000		Benchmark Mortgage Trust			3.231		12/15/72		1,592,805
			Series - 2019 B15 (Class AS)

200

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE

$	940,511	g,i	BX Commercial Mortgage Trust	LIBOR 1 M + 0.920%		1.026	%	10/15/36	$	941,101
			Series - 2019 XL (Class A)
	6,500,000	i	CD Mortgage Trust			3.879		11/10/49		6,835,680
			Series - 2016 CD2 (Class B)
	3,030,000	i	CD Mortgage Trust			4.023		11/10/49		3,081,388
			Series - 2016 CD2 (Class C)
	9,320,000		CD Mortgage Trust			3.453		02/10/50		10,042,806
			Series - 2017 CD3 (Class AAB)
	1,000,000		CD Mortgage Trust			3.833		02/10/50		1,078,842
			Series - 2017 CD3 (Class AS)
	2,000,000	i	CD Mortgage Trust			4.559		02/10/50		2,049,850
			Series - 2017 CD3 (Class C)
	5,000,000	i	CD Mortgage Trust			3.684		08/15/50		5,445,426
			Series - 2017 CD5 (Class AS)
	3,000,000		CD Mortgage Trust			2.812		08/15/57		3,199,955
			Series - 2019 CD8 (Class ASB)
	49,718	g,i	CF Mortgage Trust			2.840		04/15/25		52,433
			Series - 2020 P1 (Class A1)
	1,750,000	g,i	CF Mortgage Trust			3.603		04/15/52		1,749,872
			Series - 2020 P1 (Class A2)
	184,375	i	CHL Mortgage Pass-Through Trust			2.675		02/20/35		186,636
			Series - 2004 HYB9 (Class 1A1)
	1,750,000	g,i	Citigroup Commercial Mortgage Trust			3.518		05/10/35		1,815,591
			Series - 2013 375P (Class B)
	5,000,000	g	Citigroup Commercial Mortgage Trust			3.341		05/10/36		5,295,777
			Series - 2019 PRM (Class A)
	2,000,000	g	Citigroup Commercial Mortgage Trust			3.896		05/10/36		2,092,966
			Series - 2019 PRM (Class C)
	500,000	i	Citigroup Commercial Mortgage Trust			3.758		04/10/48		525,489
			Series - 2015 GC29 (Class B)
	470,000	i	Citigroup Mortgage Loan Trust	LIBOR 1 M + 0.750%		0.859		01/25/36		468,807
			Series - 2006 WFH1 (Class M4)
	6,000,000	g,i	COMM Mortgage Trust			3.538		10/10/29		6,211,142
			Series - 2017 PANW (Class C)
	6,863,085		COMM Mortgage Trust			2.853		10/15/45		7,038,159
			Series - 2012 CR4 (Class A3)
	1,500,000	g,i	COMM Mortgage Trust			4.790		08/10/46		1,590,554
			Series - 2013 CR10 (Class C)
	1,135,000		COMM Mortgage Trust			4.199		03/10/47		1,222,864
			Series - 2014 UBS2 (Class AM)
	1,300,384		COMM Mortgage Trust			4.701		03/10/47		1,409,332
			Series - 2014 UBS2 (Class B)
	750,000		COMM Mortgage Trust			4.174		05/10/47		811,142
			Series - 2014 CR17 (Class AM)
	6,400,000		COMM Mortgage Trust			3.917		10/10/47		6,992,849
			Series - 2014 LC17 (Class A5)
	2,000,000	i	COMM Mortgage Trust			4.188		10/10/47		2,177,442
			Series - 2014 LC17 (Class AM)
	1,646,643		COMM Mortgage Trust			3.040		02/10/48		1,721,327
			Series - 2015 LC19 (Class ASB)
	1,400,000	i	COMM Mortgage Trust			3.829		02/10/48		1,490,727
			Series - 2015 LC19 (Class B)
	1,500,000	g	COMM Mortgage Trust			3.000		03/10/48		1,178,997
			Series - 2015 CR22 (Class E)

201

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE

$	575,000	i	COMM Mortgage Trust			3.603	%	03/10/48	$	620,199
			Series - 2015 CR22 (Class AM)
	2,000,000	g,i	COMM Mortgage Trust			4.106		03/10/48		1,997,667
			Series - 2015 CR22 (Class D)
	1,000,000	i	COMM Mortgage Trust			4.106		03/10/48		1,064,307
			Series - 2015 CR22 (Class C)
	5,000,000		COMM Mortgage Trust			3.801		05/10/48		5,407,896
			Series - 2015 CR23 (Class AM)
	3,826,295	i	COMM Mortgage Trust			4.183		05/10/48		4,122,628
			Series - 2015 CR23 (Class B)
	1,250,000	i	COMM Mortgage Trust			4.293		05/10/48		1,329,282
			Series - 2015 CR23 (Class C)
	2,500,000	i	COMM Mortgage Trust			4.293		05/10/48		2,537,769
			Series - 2015 CR23 (Class D)
	2,561,088		COMM Mortgage Trust			3.432		08/10/48		2,771,691
			Series - 2015 CR24 (Class A4)
	1,500,000	i	COMM Mortgage Trust			3.463		08/10/48		1,349,959
			Series - 2015 CR24 (Class D)
	3,640,000	i	COMM Mortgage Trust			4.028		08/10/48		3,978,681
			Series - 2015 CR24 (Class AM)
	1,000,000	i	COMM Mortgage Trust			4.380		08/10/48		1,095,126
			Series - 2015 CR24 (Class B)
	2,000,000	i	COMM Mortgage Trust			4.380		08/10/48		2,127,856
			Series - 2015 CR24 (Class C)
	2,250,000	i	COMM Mortgage Trust			4.534		08/10/48		2,467,919
			Series - 2015 CR25 (Class B)
	7,600,000		COMM Mortgage Trust			3.630		10/10/48		8,309,677
			Series - 2015 CR26 (Class A4)
	1,000,000		COMM Mortgage Trust			3.984		10/10/48		1,096,793
			Series - 2015 CR27 (Class AM)
	1,000,000	i	COMM Mortgage Trust			4.480		10/10/48		1,103,591
			Series - 2015 CR26 (Class B)
	500,000	i	COMM Mortgage Trust			4.480		10/10/48		540,615
			Series - 2015 CR26 (Class C)
	2,400,000	i	COMM Mortgage Trust			4.617		10/10/48		2,578,184
			Series - 2015 LC23 (Class C)
	1,080,000		COMM Mortgage Trust			3.762		02/10/49		1,189,448
			Series - 2016 CR28 (Class A4)
	5,000,000	i	COMM Mortgage Trust			4.641		02/10/49		5,477,480
			Series - 2016 CR28 (Class B)
	1,500,000	i	COMM Mortgage Trust			5.112		08/10/50		1,619,110
			Series - 2013 CR11 (Class B)
	5,000,000		COMM Mortgage Trust			3.263		08/15/57		5,270,193
			Series - 2019 GC44 (Class AM)
	2,986,212	i	Connecticut Avenue Securities	LIBOR 1 M + 2.600%		2.709		05/25/24		2,935,995
			Series - 2014 C02 (Class 1M2)
	188,450	i	Connecticut Avenue Securities	LIBOR 1 M + 2.900%		3.009		07/25/24		190,119
			Series - 2014 C03 (Class 2M2)
	7,477,880	i	Connecticut Avenue Securities	LIBOR 1 M + 3.000%		3.109		07/25/24		7,372,172
			Series - 2014 C03 (Class 1M2)
	668,813	i	Connecticut Avenue Securities	LIBOR 1 M + 5.000%		5.109		11/25/24		674,769
			Series - 2014 C04 (Class 2M2)
	537,201	i	Connecticut Avenue Securities	LIBOR 1 M + 5.550%		5.659		04/25/28		566,665
			Series - 2015 C04 (Class 2M2)

202

TIAA-CREF FUNDS - Core Bond Fund

REFERENCE

MATURITY

PRINCIPAL

ISSUER

RATE & SPREAD

RATE

DATE

VALUE

897,096

Connecticut Avenue Securities

LIBOR 1 M + 5.700%

5.809

04/25/28

951,577

Series - 2015 C04 (Class 1M2)

2,023,053

Connecticut Avenue Securities

LIBOR 1 M + 6.750%

6.859

08/25/28

2,139,641

Series - 2016 C01 (Class 1M2)

266,729

Connecticut Avenue Securities

LIBOR 1 M + 6.000%

6.109

09/25/28

280,967

Series - 2016 C02 (Class 1M2)

1,157,398

Connecticut Avenue Securities

LIBOR 1 M + 5.900%

6.009

10/25/28

1,224,020

Series - 2016 C03 (Class 2M2)

976,321

Connecticut Avenue Securities

LIBOR 1 M + 4.450%

4.559

01/25/29

1,015,813

Series - 2016 C05 (Class 2M2)

2,210,149

Connecticut Avenue Securities

LIBOR 1 M + 4.250%

4.359

04/25/29

2,300,851

Series - 2016 C06 (Class 1M2)

2,091,255

Connecticut Avenue Securities

LIBOR 1 M + 0.850%

0.959

09/25/29

2,041,805

Series - 2017 C02 (Class 2ED4)

381,032

Connecticut Avenue Securities

LIBOR 1 M + 2.200%

2.309

01/25/30

381,272

Series - 2017 C05 (Class 1M2A)

556,023

Connecticut Avenue Securities

LIBOR 1 M + 2.200%

2.309

01/25/30

561,419

Series - 2017 C05 (Class 1M2)

187,891

Connecticut Avenue Securities

LIBOR 1 M + 2.250%

2.359

07/25/30

188,009

Series - 2018 C01 (Class 1M2)

805,709

Connecticut Avenue Securities

LIBOR 1 M + 0.850%

0.959

10/25/30

800,427

Series - 2018 C03 (Class 1EA2)

762,408

Connecticut Avenue Securities

LIBOR 1 M + 2.550%

2.659

12/25/30

763,856

Series - 2018 C04 (Class 2M2)

1,904,873

g,i

Connecticut Avenue Securities

LIBOR 1 M + 2.450%

2.559

07/25/31

1,908,446

Series - 2019 R01 (Class 2M2)

3,544,501

g,i

Connecticut Avenue Securities

LIBOR 1 M + 2.100%

2.209

09/25/39

3,550,071

Series - 2019 R06 (Class 2M2)

8,321,408

g,i

Connecticut Avenue Securities Trust

LIBOR 1 M + 2.400%

2.550

04/25/31

8,334,423

Series - 2018 R07 (Class 1M2)

1,000,000

g,i

CPT Mortgage Trust

2.997

11/13/39

958,071

Series - 2019 CPT (Class E)

1,097,118

g,i

Credit Suisse Commercial Mortgage Trust

LIBOR 1 M + 0.650%

0.759

05/25/36

1,098,137

Series - 2006 CF2 (Class M3)

2,971,157

g,i

Credit Suisse Commercial Mortgage Trust

3.500

02/25/48

3,016,084

Series - 2018 J1 (Class A11)

3,000,000

g,i

Credit Suisse Mortgage Capital Certificates

LIBOR 1 M + 1.600%

1.706

05/15/36

3,001,886

Series - 2019 ICE4 (Class D)

2,500,000

g,i

CSMC Series

3.388

10/25/59

2,533,028

Series - 2019 NQM1 (Class M1)

1,483,239

g,i

CSMC Trust

3.500

02/25/48

1,505,667

Series - 2018 J1 (Class A2)

4,750,000

DBGS Mortgage Trust

4.466

10/15/51

5,447,767

Series - 2018 C1 (Class A4)

5,000,000

DBJPM Mortgage Trust

2.340

09/15/53

4,890,677

Series - 2020 C9 (Class AM)

1,040,000

DBUBS Mortgage Trust

3.452

10/10/34

1,108,661

Series - 2017 BRBK (Class A)

3,230,000

g,i

DBUBS Mortgage Trust

5.615

07/10/44

3,189,255

Series - 2011 LC2A (Class D)

1,100,000

g,i

Ellington Financial Mortgage Trust

3.587

06/25/59

1,102,701

Series - 2019 1 (Class M1)

203

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE

$	888,690	i	Fieldstone Mortgage Investment Trust	LIBOR 1 M + 0.735%		0.844	%	12/25/35	$	885,703
			Series - 2005 2 (Class M2)
	2,211,735	g,i	FirstKey Mortgage Trust			3.500		11/25/44		2,251,355
			Series - 2014 1 (Class A8)
	333,741	g,i	Flagstar Mortgage Trust			3.500		03/25/47		333,478
			Series - 2017 1 (Class 1A5)
	1,298,082	g,i	Flagstar Mortgage Trust			4.106		10/25/47		1,345,838
			Series - 2017 2 (Class B3)
	427,273	g,i	Flagstar Mortgage Trust			4.000		09/25/48		431,895
			Series - 2018 5 (Class A11)
	1,584,730	g,i	Freddie Mac Structured Agency Credit Risk Debt Notes			3.726		02/25/48		1,583,837
			Series - 2018 SPI1 (Class M2)
	1,932,504	g,i	Freddie Mac Structured Agency Credit Risk Debt Notes			3.809		05/25/48		1,930,179
			Series - 2018 SPI2 (Class M2)
	858,195	g,i	Freddie Mac Structured Agency Credit Risk Debt Notes			4.489		11/25/48		857,789
			Series - 2018 SPI4 (Class M2B)
	750,000	g,i	FREMF Mortgage Trust			4.021		03/25/49		825,180
			Series - 2016 K53 (Class B)
	10,500,000	g	GS Mortgage Securities Corp II			3.419		10/10/32		10,733,847
			Series - 2017 SLP (Class A)
	1,344,000	g	GS Mortgage Securities Corp II			3.551		04/10/34		1,363,111
			Series - 2012 ALOH (Class A)
	2,590,000	i	GS Mortgage Securities Corp II			3.777		05/10/50		2,781,735
			Series - 2015 GC30 (Class AS)
	3,010,000	i	GS Mortgage Securities Corp II			3.992		03/10/51		3,368,919
			Series - 2018 GS9 (Class A4)
	1,500,000	i	GS Mortgage Securities Corp II			4.155		07/10/51		1,690,482
			Series - 2018 GS10 (Class A5)
	2,000,000	g,i	GS Mortgage Securities Trust	LIBOR 1 M + 1.450%		1.556		07/15/31		1,976,405
			Series - 2018 TWR (Class C)
	2,500,000	g,i	GS Mortgage Securities Trust			4.285		02/10/46		2,583,761
			Series - 2013 GC10 (Class C)
	8,000,000		GS Mortgage Securities Trust			3.467		03/10/50		8,616,516
			Series - 2017 GS5 (Class AAB)
	9,100,951		GS Mortgage Securities Trust			3.674		03/10/50		10,028,654
			Series - 2017 GS5 (Class A4)
	1,000,000	i	GS Mortgage Securities Trust			4.047		03/10/50		1,081,500
			Series - 2017 GS5 (Class B)
	4,300,000		GS Mortgage Securities Trust			3.433		05/10/50		4,670,741
			Series - 2017 GS6 (Class A3)
	3,000,000		GS Mortgage Securities Trust			3.837		11/10/50		3,305,942
			Series - 2017 GS8 (Class ABP)
	1,260,000		GS Mortgage Securities Trust			3.968		02/10/52		1,409,874
			Series - 2019 GC38 (Class A4)
	2,400,000	i	GS Mortgage Securities Trust			4.158		02/10/52		2,666,239
			Series - 2019 GC38 (Class AS)
	1,000,000	i	GS Mortgage Securities Trust			4.761		02/10/52		1,079,146
			Series - 2019 GC38 (Class C)
	1,500,000	g,i	GS Mortgage Securities Trust			3.501		07/10/52		1,570,241
			Series - 2019 GC40 (Class DBB)
	5,500,000	g,i	GS Mortgage Securities Trust			3.550		07/10/52		5,680,298
			Series - 2019 GC40 (Class DBC)

204

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE

$	1,361,000	i	GS Mortgage Securities Trust			3.405	%	02/13/53	$	1,421,510
			Series - 2020 GC45 (Class B)
	5,500,000		GS Mortgage Securities Trust			2.012		12/12/53		5,281,989
			Series - 2020 GSA2 (Class A5)
	797,257	g,i	GS Mortgage-Backed Securities Corp Trust			4.000		11/25/49		802,956
			Series - 2019 PJ2 (Class A1)
	2,081,012	g,i	GS Mortgage-Backed Securities Corp Trust			4.000		11/25/49		2,092,553
			Series - 2019 PJ2 (Class A4)
	2,373,128	g,i	GS Mortgage-Backed Securities Corp Trust			3.500		07/25/50		2,395,845
			Series - 2020 PJ2 (Class A4)
	1,270,883	i	HarborView Mortgage Loan Trust	LIBOR 1 M + 0.620%		0.730		08/19/45		1,272,116
			Series - 2005 11 (Class 2A1A)
	2,000,000	g	Hudson Yards Mortgage Trust			2.835		08/10/38		2,100,281
			Series - 2016 10HY (Class A)
	3,000,000	g,i	Hudson Yards Mortgage Trust			2.977		08/10/38		3,142,783
			Series - 2016 10HY (Class B)
	3,500,000	g,i	Hudson Yards Mortgage Trust			2.977		08/10/38		3,621,786
			Series - 2016 10HY (Class C)
	4,700,000	g,i	Hudson Yards Mortgage Trust			2.943		12/10/41		4,610,569
			Series - 2019 55HY (Class D)
	2,750,000	g,i	Hudson Yards Mortgage Trust			2.943		12/10/41		2,621,636
			Series - 2019 55HY (Class E)
	132,496	i	Impac CMB Trust	LIBOR 1 M + 0.660%		0.769		03/25/35		135,354
			Series - 2004 11 (Class 2A1)
	3,000,000	g	JP Morgan Chase Commercial Mortgage Securities Corp			4.379		07/05/31		3,181,898
			Series - 2018 AON (Class B)
	1,700,000	g,i	JP Morgan Chase Commercial Mortgage Securities Corp			4.078		01/15/46		1,736,814
			Series - 2013 C13 (Class D)
	1,500,000		JP Morgan Chase Commercial Mortgage Securities Corp			4.166		12/15/46		1,618,226
			Series - 2013 C16 (Class A4)
	800,000		JP Morgan Chase Commercial Mortgage Securities Corp			3.372		12/15/47		831,135
			Series - 2013 C10 (Class AS)
	750,000	i	JP Morgan Chase Commercial Mortgage Securities Corp			4.119		01/15/49		825,984
			Series - 2015 JP1 (Class AS)
	500,000		JP Morgan Chase Commercial Mortgage Securities Corp			3.379		09/15/50		528,108
			Series - 2017 JP7 (Class A3)
	1,790,861	g,i	JP Morgan Mortgage Trust	LIBOR 1 M - 0.000%		2.124		12/25/44		1,831,226
			Series - 2015 1 (Class B1)
	189,059	g,i	JP Morgan Mortgage Trust			3.500		05/25/45		191,484
			Series - 2015 3 (Class A19)
	938,967	g,i	JP Morgan Mortgage Trust			3.500		10/25/45		948,890
			Series - 2015 6 (Class A13)
	366,241	g,i	JP Morgan Mortgage Trust			3.500		05/25/46		371,237
			Series - 2016 1 (Class A13)
	87,789	g,i	JP Morgan Mortgage Trust			3.500		01/25/47		87,914
			Series - 2017 1 (Class A3)

205

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE

$	2,838,847	g,i	JP Morgan Mortgage Trust			3.500	%	05/25/47	$	2,880,668
			Series - 2017 2 (Class A13)
	1,131,047	g,i	JP Morgan Mortgage Trust			3.500		09/25/48		1,128,244
			Series - 2018 3 (Class A13)
	240,001	g,i	JP Morgan Mortgage Trust			3.500		10/25/48		240,443
			Series - 2018 4 (Class A5)
	358,758	g,i	JP Morgan Mortgage Trust			3.500		10/25/48		363,827
			Series - 2018 4 (Class A13)
	1,486,059	g,i	JP Morgan Mortgage Trust			3.500		10/25/48		1,508,215
			Series - 2018 5 (Class A13)
	867,227	g,i	JP Morgan Mortgage Trust			3.115		10/26/48		887,468
			Series - 2017 5 (Class A2)
	420,369	g,i	JP Morgan Mortgage Trust			4.000		01/25/49		429,808
			Series - 2018 8 (Class A13)
	403,186	g,i	JP Morgan Mortgage Trust			4.000		02/25/49		410,143
			Series - 2018 9 (Class A13)
	470,083	g,i	JP Morgan Mortgage Trust			4.000		05/25/49		478,203
			Series - 2019 1 (Class A3)
	1,235,743	g,i	JP Morgan Mortgage Trust			4.757		09/25/49		1,306,196
			Series - 2019 3 (Class B1)
	2,440,289	g,i	JP Morgan Mortgage Trust	LIBOR 1 M + 0.950%		1.059		10/25/49		2,457,573
			Series - 2019 INV1 (Class A11)
	3,735,394	g,i	JP Morgan Mortgage Trust			3.889		06/25/50		3,906,235
			Series - 2020 1 (Class B2)
	1,000,000	i	JPMBB Commercial Mortgage Securities Trust			4.133		08/15/46		1,054,592
			Series - 2013 C14 (Class A4)
	4,245,951		JPMBB Commercial Mortgage Securities Trust			3.493		08/15/47		4,460,767
			Series - 2014 C21 (Class A4)
	2,640,000		JPMBB Commercial Mortgage Securities Trust			3.775		08/15/47		2,849,110
			Series - 2014 C21 (Class A5)
	1,000,000		JPMBB Commercial Mortgage Securities Trust			3.898		02/15/48		1,050,724
			Series - 2015 C27 (Class B)
	2,000,000	i	JPMBB Commercial Mortgage Securities Trust			3.917		05/15/48		2,174,638
			Series - 2015 C29 (Class AS)
	1,600,000	i	JPMBB Commercial Mortgage Securities Trust			4.118		05/15/48		1,665,946
			Series - 2015 C29 (Class B)
	3,000,000		JPMBB Commercial Mortgage Securities Trust			4.106		08/15/48		3,290,040
			Series - 2015 C31 (Class AS)
	5,585,000	i	JPMBB Commercial Mortgage Securities Trust			4.620		08/15/48		6,120,989
			Series - 2015 C31 (Class B)
	1,400,000		JPMBB Commercial Mortgage Securities Trust			3.227		10/15/48		1,496,967
			Series - 2015 C28 (Class A4)
	1,400,000		JPMBB Commercial Mortgage Securities Trust			4.023		12/15/48		1,537,476
			Series - 2015 C33 (Class AS)
	10,425,000		JPMBB Commercial Mortgage Securities Trust			3.576		03/15/49		11,388,851
			Series - 2016 C1 (Class A5)
	1,700,000		JPMCC Commercial Mortgage Securities Trust			3.457		03/15/50		1,844,537
			Series - 2017 JP5 (Class A4)
	6,000,000		JPMDB Commercial Mortgage Securities Trust			2.536		05/13/53		6,029,018
			Series - 2020 COR7 (Class AS)
	1,770,977	g	Ladder Capital Commercial Mortgage Securities			3.575		02/15/36		1,895,512
			Series - 2013 GCP (Class A1)
	3,238,551	g	LSTAR Commercial Mortgage Trust			2.579		03/10/49		3,287,883
			Series - 2016 4 (Class A2)

206

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE

$	12,000,000	g,i	MAD Mortgage Trust			2.976	%	08/15/34	$	12,492,976
			Series - 2017 330M (Class A)
	1,500,000	g,i	Manhattan West			2.335		09/10/39		1,503,624
			Series - 2020 1MW (Class B)
	3,000,000	g,i	Manhattan West			2.335		09/10/39		2,978,921
			Series - 2020 1MW (Class C)
	2,528,381	i	Merrill Lynch Mortgage Investors Trust	LIBOR 1 M + 0.520%		2.278		01/25/37		2,442,868
			Series - 2006 WMC1 (Class A1B)
	5,000,000		Morgan Stanley Bank of America Merrill Lynch Trust			3.476		11/15/45		5,161,807
			Series - 2012 C6 (Class AS)
	2,969,062	g	Morgan Stanley Bank of America Merrill Lynch Trust			3.989		12/15/46		3,110,244
			Series - 2014 C19 (Class LNC1)
	938,092	g	Morgan Stanley Bank of America Merrill Lynch Trust			4.384		12/15/46		980,267
			Series - 2014 C19 (Class LNC2)
	2,070,000		Morgan Stanley Bank of America Merrill Lynch Trust			3.832		12/15/47		2,228,884
			Series - 2014 C19 (Class AS)
	109,893		Morgan Stanley Bank of America Merrill Lynch Trust			3.069		02/15/48		114,660
			Series - 2015 C20 (Class ASB)
	2,500,000		Morgan Stanley Bank of America Merrill Lynch Trust			3.338		03/15/48		2,680,095
			Series - 2015 C21 (Class A4)
	3,360,000		Morgan Stanley Bank of America Merrill Lynch Trust			3.561		04/15/48		3,581,392
			Series - 2015 C22 (Class AS)
	374,543	i	Morgan Stanley Capital I Trust	LIBOR 1 M + 0.825%		0.934		08/25/34		371,047
			Series - 2004 HE6 (Class M1)
	13,000,000		Morgan Stanley Capital I Trust			2.606		08/15/49		13,584,610
			Series - 2016 UB11 (Class ASB)
	414,241	†,i	Morgan Stanley Capital I Trust			6.099		12/12/49		233,632
			Series - 2007 IQ16 (Class AJ)
	1,300,000		Morgan Stanley Capital I Trust			3.587		12/15/50		1,424,415
			Series - 2017 HR2 (Class A4)
	1,000,000		Morgan Stanley Capital I Trust			4.177		07/15/51		1,119,085
			Series - 2018 H3 (Class A5)
	3,142,000	i	Morgan Stanley Capital I Trust			4.429		07/15/51		3,544,284
			Series - 2018 H3 (Class AS)
	1,500,000	g	MRCD Mortgage Trust			2.718		12/15/36		1,481,012
			Series - 2019 PARK (Class E)
	1,500,000	g,i	MSDB Trust			3.316		07/11/39		1,578,283
			Series - 2017 712F (Class A)
	6,300,000	g,i	Natixis Commercial Mortgage Securities Trust	LIBOR 1 M + 1.500%		1.606		07/15/36		6,318,347
			Series - 2019 MILE (Class A)
	2,500,000	g,i	Natixis Commercial Mortgage Securities Trust	LIBOR 1 M + 1.800%		1.906		07/15/36		2,504,021
			Series - 2019 MILE (Class B)
	1,000,000	g	Natixis Commercial Mortgage Securities Trust			2.707		10/15/36		1,003,632
			Series - 2019 1776 (Class B)
	2,000,000	g	Natixis Commercial Mortgage Securities Trust			2.966		12/15/38		2,073,136
			Series - 2020 2PAC (Class A)

207

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE

$	278,495	g,i	New Residential Mortgage Loan Trust			4.000	%	02/25/57	$	298,648
			Series - 2017 1A (Class A1)
	291,093	g,i	New Residential Mortgage Loan Trust			4.000		08/27/57		311,565
			Series - 2017 6A (Class A1)
	303,524	g,i	New Residential Mortgage Loan Trust			4.750		12/25/57		320,652
			Series - 2018 5A (Class A1)
	268,620	i	New York Mortgage Trust	LIBOR 1 M + 0.480%		0.589		02/25/36		269,074
			Series - 2005 3 (Class A1)
	819,142	g,i	OBX Trust	LIBOR 1 M + 0.650%		0.759		06/25/57		820,780
			Series - 2018 1 (Class A2)
	568,827	g,i	OBX Trust	LIBOR 1 M + 0.750%		0.859		07/25/58		568,967
			Series - 2018 EXP2 (Class 2A1A)
	18,445,000	g	One Market Plaza Trust			3.614		02/10/32		18,862,397
			Series - 2017 1MKT (Class A)
	1,000,000	g	RBS Commercial Funding, Inc Trust			3.511		03/11/31		1,005,524
			Series - 2013 SMV (Class B)
	682,399	g,i	Sequoia Mortgage Trust			3.500		05/25/45		694,361
			Series - 2015 2 (Class A1)
	375,707	g,i	Sequoia Mortgage Trust			3.500		11/25/46		378,222
			Series - 2016 3 (Class A10)
	42,733	g,i	Sequoia Mortgage Trust			3.500		02/25/47		42,881
			Series - 2017 1 (Class A4)
	1,313,991	g,i	Sequoia Mortgage Trust			3.500		02/25/47		1,318,217
			Series - 2017 2 (Class A4)
	572,099	g,i	Sequoia Mortgage Trust			3.500		02/25/47		580,295
			Series - 2017 2 (Class A19)
	1,219,881	g,i	Sequoia Mortgage Trust			3.500		04/25/47		1,223,042
			Series - 2017 3 (Class A4)
	46,965	g,i	Sequoia Mortgage Trust			3.500		04/25/47		47,598
			Series - 2017 3 (Class A19)
	16,102	g,i	Sequoia Mortgage Trust			3.500		09/25/47		16,104
			Series - 2017 6 (Class A4)
	892,198	g,i	Sequoia Mortgage Trust			3.749		09/25/47		945,152
			Series - 2017 6 (Class B1)
	1,354,606	g,i	Sequoia Mortgage Trust			3.500		02/25/48		1,380,540
			Series - 2018 2 (Class A1)
	1,920,397	g,i	Sequoia Mortgage Trust			3.500		03/25/48		1,957,001
			Series - 2018 3 (Class A1)
	68,814	g,i	Sequoia Mortgage Trust			3.500		03/25/48		68,818
			Series - 2018 3 (Class A4)
	261,361	g,i	Sequoia Mortgage Trust			4.000		09/25/48		265,396
			Series - 2018 7 (Class A19)
	103,135	g,i	Sequoia Mortgage Trust			4.000		11/25/48		104,250
			Series - 2018 8 (Class A19)
	1,562,797	g,i	Sequoia Mortgage Trust			4.000		06/25/49		1,591,517
			Series - 2019 2 (Class A1)
	542,466	g,i	Sequoia Mortgage Trust			4.000		06/25/49		549,455
			Series - 2019 2 (Class A19)
	3,411,148	g,i	Sequoia Mortgage Trust			3.500		11/25/49		3,450,495
			Series - 2019 4 (Class A1)
	6,668,244	g,i	Sequoia Mortgage Trust			3.500		12/25/49		6,732,360
			Series - 2019 5 (Class A1)
	3,850,343	g,i	Sequoia Mortgage Trust			3.500		12/25/49		3,887,364
			Series - 2019 5 (Class A19)

208

TIAA-CREF FUNDS - Core Bond Fund

REFERENCE

MATURITY

PRINCIPAL

ISSUER

RATE & SPREAD

RATE

DATE

VALUE

2,959,527

g,i

Sequoia Mortgage Trust

3.500

03/25/50

3,021,654

Series - 2020 2 (Class A1)

4,778,212

g,i

Sequoia Mortgage Trust

3.000

04/25/50

4,886,653

Series - 2020 3 (Class A19)

79,118

g,i

Shellpoint Co-Originator Trust

3.500

11/25/46

79,535

Series - 2016 1 (Class 1A10)

546,768

g,i

Shellpoint Co-Originator Trust

3.500

04/25/47

554,483

Series - 2017 1 (Class A19)

40,992

Structured Agency Credit Risk Debt Note (STACR)

LIBOR 1 M + 4.150%

4.259

01/25/25

40,992

Series - 2015 DN1 (Class M3)

2,622,620

STACR

LIBOR 1 M + 4.650%

4.759

10/25/28

2,744,263

Series - 2016 DNA2 (Class M3)

9,303,976

STACR

LIBOR 1 M + 3.250%

3.359

07/25/29

9,560,646

Series - 2017 DNA1 (Class M2)

602,920

STACR

LIBOR 1 M + 1.200%

1.309

10/25/29

603,683

Series - 2017 DNA2 (Class M1)

424,825

STACR

LIBOR 1 M + 1.800%

1.909

07/25/30

421,893

Series - 2018 DNA1 (Class M2)

2,165,784

STACR

LIBOR 1 M + 2.300%

2.472

08/25/30

2,165,783

Series - 2018 HQA1 (Class M2)

485,187

g,i

STACR

4.023

09/25/47

484,627

Series - 2017 SPI1 (Class M2)

455,470

g,i

STACR

4.148

08/25/48

454,382

Series - 2018 SPI3 (Class M2)

254,121

g,i

STACR

4.489

11/25/48

253,805

Series - 2018 SPI4 (Class M2)

906,199

g,i

STACR

LIBOR 1 M + 1.950%

2.059

10/25/49

905,350

Series - 2019 DNA4 (Class M2)

1,058,595

g,i

STACR

LIBOR 1 M + 2.050%

2.159

11/25/49

1,058,595

Series - 2019 HQA4 (Class M2)

796,748

g,i

STACR

LIBOR 1 M + 1.700%

1.809

12/25/49

794,093

Series - 2020 DNA1 (Class M2)

1,770,000

g,i

STACR

LIBOR 1 M + 1.850%

1.959

02/25/50

1,763,140

Series - 2020 DNA2 (Class M2)

3,005,000

g,i

STACR

LIBOR 1 M + 3.100%

3.209

03/25/50

3,038,748

Series - 2020 HQA2 (Class M2)

296,191

g,i

STACR

LIBOR 1 M + 1.100%

1.209

07/27/50

296,331

Series - 2020 HQA2 (Class M1)

650,000

Tricon American Homes

2.049

07/17/38

646,076

Series - 2020 SFR1 (Class B)

1,000,000

g,i

UBS-Barclays Commercial Mortgage Trust

3.649

03/10/46

1,015,263

Series - 2013 C5 (Class B)

2,000,000

g,i

UBS-Barclays Commercial Mortgage Trust

3.875

04/10/46

2,019,701

Series - 2013 C6 (Class B)

3,285,000

UBS-Citigroup Commercial Mortgage Trust

5.154

01/10/45

3,352,425

Series - 2011 C1 (Class AS)

1,807,536

VERUS A3 (Step Bond)

1.733

05/25/65

1,808,154

Series - 2020 5 (Class A3)

2,200,000

g,i

Verus Securitization Trust

3.781

05/25/59

2,175,419

Series - 2019 2 (Class M1)

2,200,000

g,i

Verus Securitization Trust

3.139

07/25/59

2,202,789

Series - 2019 3 (Class M1)

209

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE

$	1,638,048	g	VSE VOI Mortgage LLC		2.330	%	03/20/35	$	1,668,961
			Series - 2017 A (Class A)
	1,468,098	g	VSE VOI Mortgage LLC		4.020		02/20/36		1,522,785
			Series - 2018 A (Class C)
	8,200,000		Wells Fargo Commercial Mortgage Trust		3.539		10/15/45		8,493,273
			Series - 2012 LC5 (Class AS)
	2,272,000		Wells Fargo Commercial Mortgage Trust		3.540		05/15/48		2,471,364
			Series - 2015 C28 (Class A4)
	2,100,000	i	Wells Fargo Commercial Mortgage Trust		3.658		05/15/48		2,211,198
			Series - 2015 NXS1 (Class B)
	2,000,000	i	Wells Fargo Commercial Mortgage Trust		4.147		05/15/48		2,034,439
			Series - 2015 NXS1 (Class D)
	350,000		Wells Fargo Commercial Mortgage Trust		3.637		06/15/48		382,284
			Series - 2015 C29 (Class A4)
	5,055,000		Wells Fargo Commercial Mortgage Trust		2.825		10/15/49		5,311,812
			Series - 2016 LC24 (Class ASB)
	1,654,483		Wells Fargo Commercial Mortgage Trust		2.749		03/15/50		1,675,961
			Series - 2017 RB1 (Class A2)
	387,000		Wells Fargo Commercial Mortgage Trust		3.635		03/15/50		425,581
			Series - 2017 RB1 (Class A5)
	2,000,000		Wells Fargo Commercial Mortgage Trust		3.757		03/15/50		2,184,188
			Series - 2017 RB1 (Class AS)
	2,900,000		Wells Fargo Commercial Mortgage Trust		3.184		04/15/50		3,113,238
			Series - 2015 LC20 (Class A5)
	1,720,000		Wells Fargo Commercial Mortgage Trust		3.467		04/15/50		1,836,558
			Series - 2015 LC20 (Class AS)
	2,000,000	i	Wells Fargo Commercial Mortgage Trust		4.012		03/15/51		2,233,649
			Series - 2018 C43 (Class A4)
	3,290,000		Wells Fargo Commercial Mortgage Trust		4.302		01/15/52		3,737,217
			Series - 2018 C48 (Class A5)
	2,500,000	i	Wells Fargo Commercial Mortgage Trust		3.972		09/15/57		2,735,184
			Series - 2015 NXS3 (Class AS)
	3,350,000		Wells Fargo Commercial Mortgage Trust		3.952		01/15/59		3,662,537
			Series - 2016 C32 (Class AS)
	2,500,000	i	Wells Fargo Commercial Mortgage Trust		4.721		01/15/59		2,760,458
			Series - 2016 C32 (Class B)
	1,000,000		Wells Fargo Commercial Mortgage Trust		2.933		11/15/59		1,055,860
			Series - 2016 C36 (Class ASB)
	630,751	g,i	Wells Fargo Mortgage Backed Securities Trust		4.000		04/25/49		638,629
			Series - 2019 2 (Class A17)
	3,852,913	g,i	Wells Fargo Mortgage Backed Securities Trust		3.500		09/25/49		3,939,823
			Series - 2019 4 (Class A1)
	1,000,000		WFRBS Commercial Mortgage Trust		3.345		05/15/45		1,043,168
			Series - 2013 C13 (Class AS)
	3,686,709	i	WFRBS Commercial Mortgage Trust		4.079		03/15/46		3,960,238
			Series - 2013 UBS1 (Class A4)
	1,000,000	i	WFRBS Commercial Mortgage Trust		4.162		12/15/46		1,083,999
			Series - 2013 C18 (Class A5)
	1,664,000	i	WFRBS Commercial Mortgage Trust		4.862		12/15/46		1,694,987
			Series - 2013 C18 (Class C)
	2,225,281		WFRBS Commercial Mortgage Trust		3.995		05/15/47		2,410,225
			Series - 2014 C20 (Class A5)
	415,920	g,i	WinWater Mortgage Loan Trust		3.854		06/20/44		421,564
			Series - 2014 1 (Class B4)
			TOTAL OTHER MORTGAGE BACKED						671,606,883

210

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE

			TOTAL STRUCTURED ASSETS					$	1,304,216,981
			(Cost $1,293,067,707)

			TOTAL BONDS						8,287,869,616
			(Cost $8,138,180,287)

SHARES			COMPANY

COMMON STOCKS - 0.0%

MATERIALS - 0.0%
	24,263,919	*	Petra Diamonds						503,626
			TOTAL MATERIALS						503,626

MEDIA & ENTERTAINMENT - 0.0%
	25,944	*	Cirque Du Soleil Holding USA Newco, Inc						193,283
			TOTAL MEDIA & ENTERTAINMENT						193,283

			TOTAL COMMON STOCKS						696,909
			(Cost $591,088)

PREFERRED STOCKS - 0.1%

BANKS - 0.1%
	142,800		Bank of America Corp						3,570,000
	250,000	*	JPMorgan Chase & Co						6,405,000
			TOTAL BANKS						9,975,000

			TOTAL PREFERRED STOCKS						9,975,000
			(Cost $9,820,000)

PRINCIPAL			ISSUER

SHORT-TERM INVESTMENTS - 16.9%

GOVERNMENT AGENCY DEBT - 9.6%
$	20,000,000		Federal Farm Credit Bank (FFCB)		0.030	%	04/08/21		20,000,000
	10,000,000		FFCB		0.040		04/12/21		10,000,000
	25,000,000		FFCB		0.040		04/13/21		25,000,000
	19,844,000		FFCB		0.090		05/17/21		19,843,747
	20,000,000		FFCB		0.090		06/10/21		19,999,222
	5,000,000		FFCB		0.050		08/27/21		4,999,383
	23,672,000		FFCB		0.070		12/01/21		23,663,978
	15,000,000		FFCB		0.080		12/14/21		14,994,646
	33,333,000		FFCB		0.080		02/15/22		33,315,223
	16,141,000		Federal Home Loan Bank (FHLB)		0.026		04/07/21		16,141,000
	51,032,000		FHLB		0.085		04/09/21		51,032,000
	34,475,000		FHLB		0.085		04/13/21		34,475,000
	89,496,000		FHLB		0.085		04/14/21		89,496,000
	14,289,000		FHLB		0.020		04/16/21		14,289,000
	12,500,000		FHLB		0.040		04/22/21		12,500,000
	81,803,000		FHLB		0.033		04/23/21		81,803,000
	24,442,000		FHLB		0.010		05/03/21		24,441,783
	11,144,000		FHLB		0.025		05/07/21		11,143,889

211

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE

$	55,760,000		FHLB		0.035	%	05/10/21	$	55,759,396
	82,581,000		FHLB		0.039		05/12/21		82,580,059
	22,000,000		FHLB		0.085		06/02/21		21,999,242
	10,000,000		FHLB		0.087		07/09/21		9,999,175
	25,000,000		FHLB		0.090		07/21/21		24,997,687
	20,000,000		FHLB		0.053		08/13/21		19,997,767
	45,340,000		FHLB		0.058		08/18/21		45,334,748
	40,710,000		FHLB		0.060		09/01/21		40,703,079
	20,000,000		FHLB		0.058		09/08/21		19,996,444
	7,000,000		FHLB		0.025		09/15/21		6,998,701
			TOTAL GOVERNMENT AGENCY DEBT						835,504,169

TREASURY DEBT - 7.1%
	53,800,000		Egypt Treasury Bill		0.000		05/18/21		3,374,515
	67,900,000		Egypt Treasury Bill		0.000		09/14/21		4,077,383
	32,000,000		Ukraine Treasury Bill		0.000		10/27/21		1,088,516
	26,767,000		United States Cash Management Bill		0.088		06/22/21		26,766,207
	20,996,000		United States Cash Management Bill		0.040		07/06/21		20,995,272
	74,090,000		United States Treasury Bill		0.036		04/08/21		74,089,928
	10,000,000		United States Treasury Bill		0.021		04/13/21		9,999,983
	123,371,000		United States Treasury Bill		0.088		04/20/21		123,369,860
	36,235,000		United States Treasury Bill		0.088		04/27/21		36,234,608
	25,000,000		United States Treasury Bill		0.095		04/29/21		24,999,806
	10,000,000		United States Treasury Bill		0.025		05/04/21		9,999,840
	51,745,000		United States Treasury Bill		0.090		05/06/21		51,744,371
	15,005,000		United States Treasury Bill		0.088		05/18/21		15,004,486
	25,000,000		United States Treasury Bill		0.036		05/20/21		24,999,489
	26,240,000		United States Treasury Bill		0.041		05/27/21		26,239,490
	50,000,000		United States Treasury Bill		0.092		06/03/21		49,998,687
	25,000,000		United States Treasury Bill		0.033		06/17/21		24,999,198
	56,820,000		United States Treasury Bill		0.101		06/24/21		56,818,343
	25,000,000		United States Treasury Bill		0.088		07/08/21		24,998,724
			TOTAL TREASURY DEBT						609,798,706

SHARES			COMPANY

INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 0.2%
	21,209,160	c	State Street Navigator Securities Lending Government Money Market Portfolio		0.030				21,209,160
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES						21,209,160

			TOTAL SHORT-TERM INVESTMENTS						1,466,512,035
			(Cost $1,466,405,902)
			TOTAL INVESTMENTS - 114.6%						9,973,246,942
			(Cost $9,824,409,954)
			OTHER ASSETS & LIABILITIES, NET - (14.6)%						(1,270,023,779	)
			NET ASSETS - 100.0%					$	8,703,223,163

212

TIAA-CREF FUNDS - Core Bond Fund



		Abbreviation(s):
BRL		Brazilian Real
CNY		Chinese Yuan
COP		Colombian Peso
DOP		Dominican Republic Peso
EGP		Egyptian Pound
EUR		Euro
IDR		Indonesian Rupiah
INR		Indian Rupee
LIBOR		London Interbank Offered Rate
M		Month
MXN		Mexican Peso
MYR		Malaysian Ringgit
PEN		Peruvian Sol
REIT		Real Estate Investment Trust
RSD		Serbian Dinar
RUB		Russian Ruble
THB		Thai Baht
UAH		Ukrainian Hryvnia
UYU		Uruguayan Peso
ZAR		South African Rand

*		Non-income producing
†		Security is categorized as Level 3 in the fair value hierarchy.
‡		Perpetual security
c		Investments made with cash collateral received from securities on loan.
e		All or a portion of these securities are out on loan. The aggregate value of securities on loan is $20,582,500.
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 3/31/2021, the aggregate value of these securities is $1,834,129,646 or 21.1% 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
s		All or a portion of these securities represent an outstanding unfunded commitment.

213

TIAA-CREF FUNDS - Core Bond Fund

Forward foreign currency contracts outstanding as of March 31, 2021 were as follows:

Currency to be
purchased

Receive

Currency to be
sold

Deliver

Counterparty

Settlement date

Unrealized
appreciation
(depreciation)

2,535,059

EUR

2,080,386

AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED

04/22/21

94,277



		Abbreviation(s):
EUR		Euro

Centrally cleared credit default swap contracts outstanding as of March 31, 2021 were as follows:

PURCHASED

Reference
entity

Terms of
payments to
be paid

Terms of
payments to
be received

Counterparty

Fixed rate payment frequency

Maturity date

Notional
amount*

Value

Premiums paid (received)

Variation margin

Unrealized appreciation (depreciation)

CDX-NAHYS36V1-5Y

5.000%

Credit event as specified in contract

Citigroup Global Markets, Inc

Quarterly

06/20/26

35,000,000

$(3,170,191)

$(2,980,622)

(155,280)

(189,569

)

*	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.

214

TIAA-CREF FUNDS - Core Impact Bond Fund

TIAA-CREF FUNDS
CORE IMPACT BOND FUND
SCHEDULE OF INVESTMENTS
March 31, 2021

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

BANK LOAN OBLIGATIONS - 0.1%

MATERIALS - 0.0%
$	24,594	†,h,i	CarbonLite P LLC	LIBOR 1 M + 12.000%		12.000	%	09/05/21	$	24,594
			TOTAL MATERIALS							24,594

UTILITIES - 0.1%
	7,680,750	i	Exgen Renewables IV LLC	LIBOR 3 M + 2.750%		3.750		12/15/27		7,683,976
			TOTAL UTILITIES							7,683,976

			TOTAL BANK LOAN OBLIGATIONS							7,708,570
			(Cost $7,668,196)

BONDS - 96.7%

CORPORATE BONDS - 42.2%

AUTOMOBILES & COMPONENTS - 0.7%
	5,400,000		BorgWarner, Inc			2.650		07/01/27		5,607,034
	10,500,000	g	Harley-Davidson Financial Services, Inc			4.050		02/04/22		10,796,938
	14,475,000	g	Hyundai Capital Services, Inc			1.250		02/08/26		14,116,401
	11,025,000		Magna International, Inc			2.450		06/15/30		11,092,893
			TOTAL AUTOMOBILES & COMPONENTS							41,613,266

BANKS - 9.3%
	13,750,000		Bank of America Corp			0.981		09/25/25		13,714,244
	10,000,000		Bank of America Corp			2.456		10/22/25		10,481,900
	3,150,000	g	Bank of Montreal			2.100		06/15/22		3,217,533
	4,500,000		Barclays plc			3.811		03/10/42		4,408,368
	5,400,000	g	BNP Paribas S.A.			2.219		06/09/26		5,537,254
	18,725,000	g	BNP Paribas S.A.			1.323		01/13/27		18,312,892
	3,250,000	g	BNP Paribas S.A.			1.904		09/30/28		3,194,459
	11,500,000	g	BNP Paribas S.A.			2.588		08/12/35		10,815,761
	4,850,000	i	Canadian Imperial Bank of Commerce	SOFR + 0.800%		0.810		03/17/23		4,891,322
	15,000,000		Citigroup, Inc			1.678		05/15/24		15,305,550
	19,125,000		Citigroup, Inc			0.776		10/30/24		19,112,005
	10,225,000		Citizens Bank NA			2.250		04/28/25		10,609,498
	3,800,000		Citizens Bank NA			3.750		02/18/26		4,179,252
	9,075,000		Citizens Financial Group, Inc			3.250		04/30/30		9,636,249
	5,000,000	i	Cooperatieve Rabobank UA	LIBOR 3 M + 0.480%		0.705		01/10/23		5,027,275
	14,970,000		Cooperatieve Rabobank UA			3.750		07/21/26		16,326,373
	10,000,000	g	Cooperatieve Rabobank UA			1.106		02/24/27		9,768,405
	15,000,000	g	Credit Agricole S.A.			1.247		01/26/27		14,670,730
	4,500,000		First Abu Dhabi Bank PJSC			3.000		03/30/22		4,606,292
	8,385,000		HSBC Holdings plc			3.033		11/22/23		8,720,949
	10,000,000	i	ING Groep NV	LIBOR 3 M + 1.000%		1.238		10/02/23		10,155,667

215

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	15,750,000	g	ING Groep NV			1.400	%	07/01/26	$	15,668,730
	12,500,000	h,i	ING Groep NV	SOFR + 1.010%		1.020		04/01/27		12,523,375
	17,000,000	h	ING Groep NV			2.727		04/01/32		16,989,791
	6,250,000	g	Intesa Sanpaolo S.p.A			3.250		09/23/24		6,657,217
	7,200,000	g	Intesa Sanpaolo S.p.A			4.000		09/23/29		7,707,523
	15,875,000	g	Itau Unibanco Holding S.A.			3.875		04/15/31		15,398,750
	9,150,000		JPMorgan Chase & Co			0.563		02/16/25		9,081,978
	15,000,000		JPMorgan Chase & Co			1.040		02/04/27		14,630,033
	2,375,000		KeyCorp			2.550		10/01/29		2,404,468
	9,670,000	g	Kookmin Bank			2.500		11/04/30		9,359,137
	4,000,000		Lloyds Banking Group plc			4.500		11/04/24		4,446,200
	5,725,000		Lloyds Banking Group plc			3.870		07/09/25		6,230,294
	6,350,000		Massachusetts Higher Education Assistance Corp			2.673		07/01/31		6,297,262
	6,475,000		Mitsubishi UFJ Financial Group, Inc			2.527		09/13/23		6,769,473
	5,925,000	i	Mizuho Financial Group, Inc	LIBOR 3 M + 0.630%		0.818		03/01/28		5,952,255
	15,893,000	g	National Australia Bank Ltd			2.332		08/21/30		15,013,162
	5,750,000		National Bank of Canada			0.550		11/15/24		5,735,392
	11,310,000		People’s United Bank NA			4.000		07/15/24		12,204,064
	4,500,000		People’s United Financial, Inc			3.650		12/06/22		4,690,771
	7,375,000		Regions Financial Corp			5.750		N/A‡		8,121,719
	5,485,000		Royal Bank of Scotland Group plc			2.359		05/22/24		5,659,030
	11,225,000	g	Shinhan Financial Group Co Ltd			3.340		02/05/30		11,719,124
	4,450,000	g,i	Standard Chartered plc	SOFR + 1.250%		1.281		10/14/23		4,498,718
	9,400,000	g	Standard Chartered plc			1.319		10/14/23		9,459,690
	12,150,000	g	Standard Chartered plc			0.991		01/12/25		12,078,940
	5,550,000	g	Standard Chartered plc			1.214		03/23/25		5,559,443
	10,000,000	g	Standard Chartered plc			1.456		01/14/27		9,759,864
	13,600,000		Sumitomo Mitsui Financial Group, Inc			1.474		07/08/25		13,605,972
	11,512,000		SVB Financial Group			3.500		01/29/25		12,428,303
	10,000,000		SVB Financial Group			3.125		06/05/30		10,387,171
	12,800,000		SVB Financial Group			1.800		02/02/31		11,801,823
	11,586,000		SVB Financial Group			4.100		N/A‡		11,614,965
	6,000,000		Truist Financial Corp			3.700		06/05/25		6,576,774
	14,350,000		Truist Financial Corp			1.267		03/02/27		14,178,608
	5,000,000		Truist Financial Corp			4.950		N/A‡		5,418,750
	10,000,000	g	UBS Group AG.			2.095		02/11/32		9,459,161
	7,948,000	g	UniCredit S.p.A			6.572		01/14/22		8,285,459
	15,000,000	g	UniCredit S.p.A			2.569		09/22/26		15,059,938
	3,600,000	g	UniCredit S.p.A			5.459		06/30/35		3,815,771
	5,800,000	g	USAA Capital Corp			1.500		05/01/23		5,925,244
	5,600,000	g	USAA Capital Corp			2.125		05/01/30		5,496,032
			TOTAL BANKS							581,362,352

CAPITAL GOODS - 1.7%
	10,450,000		Carrier Global Corp			2.700		02/15/31		10,446,871
	7,036,000		CNH Industrial Capital LLC			4.875		04/01/21		7,036,000
	4,000,000		CNH Industrial Capital LLC			1.950		07/02/23		4,107,503
	3,053,000		CNH Industrial NV			3.850		11/15/27		3,376,054
	8,975,000		Ingersoll-Rand Luxembourg Finance S.A.			3.800		03/21/29		9,846,269
	4,925,000		Johnson Controls International plc			1.750		09/15/30		4,619,051
	6,900,000		Lennox International, Inc			1.350		08/01/25		6,865,990
	4,900,000		Lennox International, Inc			1.700		08/01/27		4,820,163
	9,800,000		Masco Corp			1.500		02/15/28		9,412,306
	10,000,000		Otis Worldwide Corp			3.112		02/15/40		9,844,586

216

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	3,400,000		Roper Technologies, Inc			1.400	%	09/15/27	$	3,284,937
	6,275,000	g,i	Siemens Financieringsmaatschappij NV	SOFR + 0.430%		0.440		03/11/24		6,293,756
	12,500,000	g	Siemens Financieringsmaatschappij NV			1.200		03/11/26		12,354,823
	6,525,000		Xylem, Inc			1.950		01/30/28		6,514,162
	3,575,000		Xylem, Inc			2.250		01/30/31		3,507,816
			TOTAL CAPITAL GOODS							102,330,287

COMMERCIAL & PROFESSIONAL SERVICES - 0.3%
	17,160,000		Rockefeller Foundation			2.492		10/01/50		15,710,442
	750,000		Waste Management, Inc			2.400		05/15/23		777,610
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES							16,488,052

CONSUMER SERVICES - 1.2%
	10,750,000		Conservation Fund			3.474		12/15/29		11,152,037
	4,040,000		Henry J Kaiser Family Foundation			3.356		12/01/25		4,163,459
	4,500,000		Low Income Investment Fund			3.386		07/01/26		4,769,931
	10,000,000		Low Income Investment Fund			3.711		07/01/29		10,579,500
	7,850,000	i	Nature Conservancy	LIBOR 3 M + 1.080%		1.285		02/01/24		7,874,204
	4,100,000		New York Public Library Astor Lenox & Tilden Foundations			4.305		07/01/45		3,971,578
	80,000		Salvation Army			5.637		09/01/26		95,720
	5,000,000		Salvation Army			4.528		09/01/48		5,299,773
	6,850,000		Starbucks Corp			2.450		06/15/26		7,172,437
	11,440,000		Wisconsin Alumni Research Foundation			3.564		10/01/49		11,612,204
	5,000,000		YMCA of Greater New York			5.021		08/01/38		5,150,498
	1,500,000		YMCA of Greater New York			5.151		08/01/48		1,510,085
			TOTAL CONSUMER SERVICES							73,351,426

DIVERSIFIED FINANCIALS - 3.8%
	8,350,000		AerCap Ireland Capital DAC			1.750		01/30/26		8,110,057
	2,125,000		Bank of New York Mellon Corp			2.661		05/16/23		2,180,241
	3,150,000		Bank of New York Mellon Corp			4.700		N/A‡		3,412,867
	21,400,000	g	BPCE S.A.			1.652		10/06/26		21,350,006
	10,750,000		Century Housing Corp			3.995		11/01/21		10,872,018
	8,725,000		Charles Schwab Corp			4.000		N/A‡		8,576,675
	10,720,000		Community Preservation Corp			2.867		02/01/30		10,623,293
	16,425,000	g	Credit Suisse Group AG.			1.305		02/02/27		15,898,323
	5,820,000		Enterprise Community Loan Fund, Inc			4.152		11/01/28		5,910,774
	10,000,000		Ford Foundation			2.815		06/01/70		9,001,775
	13,300,000		Goldman Sachs Group, Inc			0.855		02/12/26		13,072,603
	14,950,000		Morgan Stanley			0.985		12/10/26		14,592,592
	10,000,000	g	NongHyup Bank			1.250		07/20/25		9,935,412
	2,127,000		Reinvestment Fund, Inc			3.166		11/01/23		2,155,518
	3,000,000		Reinvestment Fund, Inc			3.600		02/15/24		3,064,023
	2,500,000		Reinvestment Fund, Inc			3.366		11/01/24		2,546,256
	5,000,000		Reinvestment Fund, Inc			3.513		11/01/25		5,045,445
	5,000,000		Reinvestment Fund, Inc			3.880		02/15/27		5,069,929
	4,475,000	g	Starwood Property Trust, Inc			5.500		11/01/23		4,676,375
	5,000,000		State Street Corp			2.653		05/15/23		5,128,274
	10,750,000		State Street Corp			2.354		11/01/25		11,307,066
	8,100,000	g	Swiss Re Finance Luxembourg SA			5.000		04/02/49		9,170,820
	4,823,000	g	UBS Group AG			1.008		07/30/24		4,851,041

217

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	$	14,486,039
	13,750,000		Unilever Capital Corp			2.000		07/28/26		14,218,412
	5,528,000		Unilever Capital Corp			2.125		09/06/29		5,520,191
	6,125,000		Unilever Capital Corp			1.375		09/14/30		5,748,532
	3,450,000	g	WLB Asset II B Pte Ltd			3.950		12/10/24		3,415,251
	1,925,000	g	WLB Asset II Pte Ltd			4.000		01/14/24		1,973,694
			TOTAL DIVERSIFIED FINANCIALS							231,913,502

ENERGY - 2.6%
	7,950,000	g	Aker BP ASA			4.750		06/15/24		8,153,246
	7,500,000	g	Aker BP ASA			2.875		01/15/26		7,745,477
	10,000,000	g	Aker BP ASA			4.000		01/15/31		10,424,323
	7,500,000	i	Enbridge, Inc	SOFR + 0.400%		0.413		02/17/23		7,511,403
	7,600,000		Enbridge, Inc			2.500		01/15/25		7,921,037
	5,830,000		Enbridge, Inc			5.750		07/15/80		6,238,100
	7,375,000		EQT Corp			7.625		02/01/25		8,487,777
	1,000,000		Equinor ASA			2.450		01/17/23		1,037,317
	2,000,000		Equinor ASA			3.700		03/01/24		2,173,768
	7,725,000		Equinor ASA			2.375		05/22/30		7,706,127
	3,000,000		Equinor ASA			3.950		05/15/43		3,246,710
	9,110,000		Equinor ASA			3.250		11/18/49		8,920,113
	1,925,000		ONEOK, Inc			4.000		07/13/27		2,087,475
	7,246,000		ONEOK, Inc			3.400		09/01/29		7,455,585
	10,950,000		ONEOK, Inc			6.350		01/15/31		13,748,861
	3,350,000		ONEOK, Inc			4.950		07/13/47		3,509,259
	10,000,000		ONEOK, Inc			4.450		09/01/49		9,973,949
	5,000,000	g	TerraForm Power Operating LLC			5.000		01/31/28		5,395,250
	6,000,000		Total Capital International S.A.			2.434		01/10/25		6,292,159
	12,850,000		Total Capital International S.A.			2.986		06/29/41		12,322,081
	11,550,000		Total Capital International S.A.			3.127		05/29/50		10,873,435
	10,000,000	i	Valero Energy Corp	LIBOR 3 M + 1.150%		1.334		09/15/23		10,033,856
			TOTAL ENERGY							161,257,308

FOOD & STAPLES RETAILING - 0.5%
	7,125,000	g,i	7-Eleven, Inc	LIBOR 3 M + 0.450%		0.645		08/10/22		7,132,309
	11,500,000	g	7-Eleven, Inc			0.950		02/10/26		11,202,150
	11,225,000		SYSCO Corp			2.400		02/15/30		11,145,691
			TOTAL FOOD & STAPLES RETAILING							29,480,150

FOOD, BEVERAGE & TOBACCO - 0.6%
	4,675,000		General Mills, Inc			2.875		04/15/30		4,826,272
	10,500,000	g	NBM US Holdings, Inc			6.625		08/06/29		11,547,952
	5,600,000	g	Nutrition & Biosciences, Inc			1.832		10/15/27		5,475,531
	15,310,000		PepsiCo, Inc			2.875		10/15/49		14,817,212
			TOTAL FOOD, BEVERAGE & TOBACCO							36,666,967

HEALTH CARE EQUIPMENT & SERVICES - 0.4%
	10,000,000	i	Cigna Corp	LIBOR 3 M + 0.890%		1.131		07/15/23		10,120,600
	6,900,000		Cigna Corp			0.613		03/15/24		6,870,761
	10,150,000		Cigna Corp			2.375		03/15/31		9,983,428
			TOTAL HEALTH CARE EQUIPMENT & SERVICES							26,974,789

218

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

HOUSEHOLD & PERSONAL PRODUCTS - 0.5%
$	5,900,000		Kimberly-Clark Corp			3.950	%	11/01/28	$	6,712,764
	6,925,000		Procter & Gamble Co			2.800		03/25/27		7,459,262
	5,300,000		Procter & Gamble Co			3.000		03/25/30		5,704,794
	12,125,000		Procter & Gamble Co			1.200		10/29/30		11,220,331
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS							31,097,151

INSURANCE - 1.8%
	6,851,000	g	AIA Group Ltd			3.600		04/09/29		7,359,891
	10,928,000	g	AIA Group Ltd			3.375		04/07/30		11,640,693
	2,400,000		Chubb INA Holdings, Inc			1.375		09/15/30		2,191,551
	11,400,000	g	Empower Finance 2020 LP			1.357		09/17/27		11,015,848
	4,950,000	g	Empower Finance 2020 LP			1.776		03/17/31		4,589,404
	10,285,000	g	Equitable Financial Life Global Funding			1.400		08/27/27		9,923,654
	3,750,000	g	Five Corners Funding Trust			4.419		11/15/23		4,113,620
	13,325,000	g	Five Corners Funding Trust II			2.850		05/15/30		13,732,841
	4,100,000	g	Great-West Lifeco US Finance 2020 LP			0.904		08/12/25		4,034,289
	5,000,000		Progressive Corp			3.700		01/26/45		5,309,374
	10,000,000		Prudential Financial, Inc			1.500		03/10/26		10,102,341
	4,265,000		Prudential Financial, Inc			3.700		10/01/50		4,312,768
	4,499,000		Reinsurance Group of America, Inc			3.900		05/15/29		4,931,390
	6,100,000		Reinsurance Group of America, Inc			3.150		06/15/30		6,309,524
	5,000,000	g	Swiss Re Treasury US Corp			2.875		12/06/22		5,157,134
	6,674,000	g	Swiss Re Treasury US Corp			4.250		12/06/42		7,651,692
			TOTAL INSURANCE							112,376,014

MATERIALS - 1.7%
	10,588,000	g	Air Liquide Finance S.A.			2.500		09/27/26		11,126,681
	7,250,000	g	Celulosa Arauco y Constitucion S.A.			4.200		01/29/30		7,802,812
	10,000,000	g	Celulosa Arauco y Constitucion S.A.			5.150		01/29/50		11,152,450
	1,934,000		International Paper Co			4.800		06/15/44		2,316,721
	6,375,000		International Paper Co			4.350		08/15/48		7,368,142
	5,750,000	g	Inversiones CMPC S.A.			4.375		04/04/27		6,323,333
EUR	2,500,000	g	LG Chem Ltd			0.500		04/15/23		2,958,429
	5,940,000	g	LG Chem Ltd			3.625		04/15/29		6,429,601
	14,500,000	i	LYB International Finance III LLC	LIBOR 3 M + 1.000%		1.202		10/01/23		14,542,476
	5,925,000		LYB International Finance III LLC			3.375		10/01/40		5,859,515
	5,000,000		Newmont Corp			2.250		10/01/30		4,870,685
	9,875,000		PPG Industries, Inc			1.200		03/15/26		9,678,031
	2,950,000		Steel Dynamics, Inc			2.400		06/15/25		3,074,638
	4,850,000		Steel Dynamics, Inc			3.250		01/15/31		5,132,906
	10,000,000		Teck Resources Ltd			3.900		07/15/30		10,450,883
			TOTAL MATERIALS							109,087,303

MEDIA & ENTERTAINMENT - 0.8%
	10,000,000		Alphabet, Inc			1.100		08/15/30		9,192,159
	2,800,000		Bush Foundation			2.754		10/01/50		2,656,307
	5,040,000	g	Continuum Energy Levanter Pte Ltd			4.500		02/09/27		5,153,400
	3,650,000	g	Discovery Communications LLC			4.000		09/15/55		3,592,750
	3,250,000	g	Grace Trust			2.347		12/10/40		3,201,936
	15,000,000	g	Liberty Utilities Finance GP			2.050		09/15/30		14,053,893
	10,000,000	g	NTT Finance Corp			1.162		04/03/26		9,867,954
	7,500,000	g	NTT Finance Corp			2.065		04/03/31		7,404,570

219

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	2,320,000		Smithsonian Institution			2.645	%	09/01/39	$	2,214,505
			TOTAL MEDIA & ENTERTAINMENT							57,337,474

PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 1.7%
	10,000,000	i	AbbVie, Inc	LIBOR 3 M + 0.650%		0.832		11/21/22		10,061,419
	4,800,000		Bristol-Myers Squibb Co			2.350		11/13/40		4,366,026
	7,700,000		Bristol-Myers Squibb Co			2.550		11/13/50		6,843,080
	6,275,000		Gilead Sciences, Inc			1.200		10/01/27		6,016,086
	5,350,000		Gilead Sciences, Inc			2.600		10/01/40		4,916,225
	14,150,000		Gilead Sciences, Inc			2.800		10/01/50		12,576,293
	5,750,000		GlaxoSmithKline Capital, Inc			3.625		05/15/25		6,322,602
	9,075,000		Merck & Co, Inc			1.450		06/24/30		8,645,730
	3,700,000		Merck & Co, Inc			2.450		06/24/50		3,263,134
	7,725,000	g,i	Roche Holdings, Inc	SOFR + 0.240%		0.251		03/05/24		7,730,354
	12,500,000	g	Roche Holdings, Inc			0.991		03/05/26		12,408,346
	5,674,000	g	Roche Holdings, Inc			2.375		01/28/27		5,955,777
	14,681,000		Takeda Pharmaceutical Co Ltd			2.050		03/31/30		14,149,374
	8,500,000		Takeda Pharmaceutical Co Ltd			3.175		07/09/50		8,118,313
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES							111,372,759

REAL ESTATE - 2.0%
	1,975,000		Brandywine Operating Partnership LP			3.950		02/15/23		2,064,263
	4,300,000		Brandywine Operating Partnership LP			3.950		11/15/27		4,566,230
	2,800,000		Brixmor Operating Partnership LP			4.125		06/15/26		3,091,580
	6,875,000		Brixmor Operating Partnership LP			3.900		03/15/27		7,505,681
	3,800,000		Brixmor Operating Partnership LP			2.250		04/01/28		3,728,617
	5,975,000		Corporate Office Properties LP			2.750		04/15/31		5,777,694
	4,000,000		Duke Realty LP			2.875		11/15/29		4,104,916
	11,400,000		Equinix, Inc			1.000		09/15/25		11,194,108
	2,350,000		Equinix, Inc			1.800		07/15/27		2,306,765
	6,900,000		Federal Realty Investment Trust			1.250		02/15/26		6,813,205
	6,600,000	g	HAT Holdings I LLC			5.250		07/15/24		6,814,500
	1,950,000	g	HAT Holdings I LLC			6.000		04/15/25		2,057,250
	10,000,000	g	HAT Holdings I LLC			3.750		09/15/30		9,625,000
	11,000,000		Host Hotels & Resorts LP			3.500		09/15/30		11,043,522
	4,725,000		Kilroy Realty LP			3.450		12/15/24		5,051,545
	14,350,000		Kilroy Realty LP			2.500		11/15/32		13,476,545
	3,125,000		Life Storage LP			2.200		10/15/30		2,951,905
	2,516,000		Piedmont Operating Partnership LP			3.400		06/01/23		2,613,040
	9,157,000		Regency Centers LP			3.750		06/15/24		9,824,345
	8,090,000	g	Scentre Group Trust 2			5.125		09/24/80		8,417,240
	7,310,000		UDR, Inc			1.900		03/15/33		6,590,704
			TOTAL REAL ESTATE							129,618,655

RETAILING - 0.5%
	2,800,000		Advance Auto Parts, Inc			1.750		10/01/27		2,758,627
	7,200,000		Home Depot, Inc			2.500		04/15/27		7,578,437
	10,000,000		Home Depot, Inc			2.700		04/15/30		10,424,608
	5,000,000		Home Depot, Inc			3.350		04/15/50		5,185,603
	5,525,000		Lowe’s Cos, Inc			3.000		10/15/50		5,153,271
			TOTAL RETAILING							31,100,546

220

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.5%
$	5,883,000	g	NXP BV			3.400	%	05/01/30	$	6,212,170
	17,200,000	g	SK Hynix, Inc			2.375		01/19/31		16,264,250
	7,575,000		Texas Instruments, Inc			3.875		03/15/39		8,693,196
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT							31,169,616

SOFTWARE & SERVICES - 0.6%
	12,875,000		Automatic Data Processing, Inc			1.250		09/01/30		11,795,155
	7,725,000		Mastercard, Inc			1.900		03/15/31		7,593,144
	5,000,000		Visa, Inc			0.750		08/15/27		4,800,247
	10,000,000		Visa, Inc			1.100		02/15/31		9,099,303
	5,000,000		Visa, Inc			2.000		08/15/50		4,045,419
			TOTAL SOFTWARE & SERVICES							37,333,268

TECHNOLOGY HARDWARE & EQUIPMENT - 0.1%
	5,750,000		Apple, Inc			3.000		06/20/27		6,238,693
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT							6,238,693

TELECOMMUNICATION SERVICES - 0.8%
	9,000,000	i	Verizon Communications, Inc	SOFR + 0.790%		0.800		03/20/26		9,052,074
	14,225,000		Verizon Communications, Inc			2.550		03/21/31		14,212,092
	9,825,000		Verizon Communications, Inc			3.400		03/22/41		9,974,196
	18,825,000		Verizon Communications, Inc			3.550		03/22/51		18,798,585
			TOTAL TELECOMMUNICATION SERVICES							52,036,947

TRANSPORTATION - 1.0%
	10,000,000		Canadian Pacific Railway Co			2.050		03/05/30		9,660,798
	2,472,665		Delta Air Lines, Inc			4.250		07/30/23		2,527,259
	2,850,000		Delta Air Lines, Inc			3.204		04/25/24		2,952,275
	13,700,000		Delta Air Lines, Inc			3.404		04/25/24		13,791,682
	5,600,000		Delta Air Lines, Inc			2.900		10/28/24		5,599,498
	6,225,000	g	Delta Air Lines, Inc			7.000		05/01/25		7,170,936
	7,469,793		Delta Air Lines, Inc			2.000		06/10/28		7,480,942
	11,457,847		Delta Air Lines, Inc			2.500		06/10/28		11,609,845
	2,500,000		Kansas City Southern			4.300		05/15/43		2,740,706
	500,000		Norfolk Southern Corp			2.900		06/15/26		535,607
			TOTAL TRANSPORTATION							64,069,548

UTILITIES - 9.1%
	10,875,000	g	AES Corp			1.375		01/15/26		10,599,238
	10,900,000	g	AES Corp			2.450		01/15/31		10,421,292
	8,750,000	g	AES Gener S.A.			6.350		10/07/79		9,373,437
	4,375,000		Arizona Public Service Co			3.750		05/15/46		4,557,074
	5,875,000		Atlantic City Electric Co			2.300		03/15/31		5,805,889
	11,925,000	i	Atmos Energy Corp	LIBOR 3 M + 0.380%		0.565		03/09/23		11,926,300
	14,749,000		Avangrid, Inc			3.200		04/15/25		15,791,003
	7,500,000		Avangrid, Inc			3.800		06/01/29		8,250,238
	5,025,000		Avista Corp			4.350		06/01/48		5,767,684
	800,000	g	Azure Power Energy Ltd			5.500		11/03/22		816,003
	5,025,000	g	Azure Power Solar Energy Pvt Ltd			5.650		12/24/24		5,316,880
	10,000,000	g	Brooklyn Union Gas Co			4.487		03/04/49		11,447,422
	9,850,000		CenterPoint Energy Houston Electric LLC			2.350		04/01/31		9,852,857
	12,350,000		CenterPoint Energy Houston Electric LLC			3.350		04/01/51		12,418,144

221

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	19,400,000	i	CenterPoint Energy Resources Corp	LIBOR 3 M + 0.500%		0.684	%	03/02/23	$	19,405,510
	3,250,000	g	Clearway Energy Operating LLC			4.750		03/15/28		3,381,267
	10,000,000	g	Clearway Energy Operating LLC			3.750		02/15/31		9,593,800
	3,050,000		CMS Energy Corp			4.750		06/01/50		3,294,000
	8,170,000	g	Consorcio Transmantaro SA			4.700		04/16/34		9,221,969
	13,850,000		Consumers Energy Co			2.500		05/01/60		11,500,324
	6,288,267	g	Continental Wind LLC			6.000		02/28/33		7,089,655
	8,850,000		Dominion Energy Gas Holdings LLC			2.500		11/15/24		9,304,597
	7,115,000		Dominion Energy, Inc			3.600		03/15/27		7,853,140
	4,850,000		Dominion Energy, Inc (Step Bond)			3.071		08/15/24		5,165,131
	11,725,000		DTE Electric Co			1.900		04/01/28		11,694,690
	5,000,000		DTE Electric Co			3.950		03/01/49		5,588,745
	9,025,000		DTE Electric Co			3.250		04/01/51		8,998,944
	12,000,000		DTE Energy Co			2.850		10/01/26		12,678,118
	10,000,000		Duke Energy Florida LLC			2.500		12/01/29		10,197,845
	3,350,000	g	East Ohio Gas Co			1.300		06/15/25		3,340,438
	3,100,000	g	East Ohio Gas Co			2.000		06/15/30		2,982,758
	6,575,000	g	EDP Finance BV			3.625		07/15/24		7,098,455
	2,312,000	g	EDP Finance BV			1.710		01/24/28		2,228,610
	9,559,000	g	Electricite de France S.A.			3.625		10/13/25		10,385,518
	10,000,000		Essential Utilities, Inc			2.704		04/15/30		10,079,610
	7,800,000		Essential Utilities, Inc			3.351		04/15/50		7,547,776
	8,882,000		Georgia Power Co			3.250		04/01/26		9,599,698
	2,900,000	g	Greenko Dutch BV			4.875		07/24/22		2,930,450
	13,850,000	g	Hanwha Energy USA Holdings Corp			2.375		07/30/22		14,170,800
	9,700,000		Interstate Power & Light Co			3.500		09/30/49		9,549,585
	7,925,000	g	Korea Hydro & Nuclear Power Co Ltd			3.750		07/25/23		8,493,833
	6,875,000		MidAmerican Energy Co			3.100		05/01/27		7,450,865
	2,430,000		MidAmerican Energy Co			3.650		08/01/48		2,569,700
	3,820,000		MidAmerican Energy Co			3.150		04/15/50		3,754,111
	12,626,000		National Fuel Gas Co			5.500		01/15/26		14,429,518
	9,524,000		National Fuel Gas Co			2.950		03/01/31		9,171,277
	14,775,000	i	NextEra Energy Capital Holdings, Inc	LIBOR 3 M + 0.270%		0.452		02/22/23		14,777,280
	5,575,000	i	NextEra Energy Capital Holdings, Inc	SOFR + 0.540%		0.550		03/01/23		5,588,949
	91,000	g	NextEra Energy Operating Partners LP			4.250		09/15/24		96,005
	10,000,000	g	Niagara Mohawk Power Corp			1.960		06/27/30		9,557,328
	750,000	g	Niagara Mohawk Power Corp			4.278		10/01/34		855,249
	8,758,000		NorthWestern Corp			4.176		11/15/44		9,685,259
	5,450,000		Oklahoma Gas & Electric Co			3.250		04/01/30		5,778,161
	1,925,000	g	Pattern Energy Operations LP			4.500		08/15/28		1,956,281
	5,925,000		PSEG Power LLC			3.850		06/01/23		6,316,668
	3,625,000		Public Service Co of Colorado			3.200		03/01/50		3,632,638
	1,000,000		Public Service Co of New Hampshire			3.500		11/01/23		1,068,981
	2,975,000		Public Service Co of New Hampshire			3.600		07/01/49		3,124,191
	7,500,000		San Diego Gas & Electric Co			4.150		05/15/48		8,454,518
	1,000,000		Sempra Energy			2.875		10/01/22		1,027,810
	10,000,000		Sempra Energy			4.875		N/A‡		10,700,000
	2,501,604	g	Solar Star Funding LLC			3.950		06/30/35		2,568,159
	4,950,371	g	Solar Star Funding LLC			5.375		06/30/35		5,551,089
	13,788,000		Southern Power Co			4.150		12/01/25		15,354,905
	2,875,000		Southwestern Public Service Co			3.750		06/15/49		3,068,362
	18,529,000		Southwestern Public Service Co			3.150		05/01/50		18,039,523
	9,795,600	g	Star Energy Geothermal Wayang Windu Ltd			6.750		04/24/33		11,020,050
	8,048,463	g	Topaz Solar Farms LLC			4.875		09/30/39		8,745,859

222

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	850,586	g	Topaz Solar Farms LLC			5.750	%	09/30/39	$	971,200
	9,360,000		Tucson Electric Power Co			1.500		08/01/30		8,669,018
	8,755,000	g	UEP Penonome II S.A.			6.500		10/01/38		8,820,750
	16,400,000		Union Electric Co			2.625		03/15/51		14,506,504
	8,250,000		Westar Energy, Inc			2.550		07/01/26		8,644,278
			TOTAL UTILITIES							571,673,213

			TOTAL CORPORATE BONDS							2,645,949,286
			(Cost $2,626,867,114)

GOVERNMENT BONDS - 45.1%

AGENCY SECURITIES - 4.5%
	1,695,000		Canal Barge Co, Inc			4.500		11/12/34		1,915,279
	563,391		Ethiopian Leasing LLC			2.566		08/14/26		597,443
	375,432		Excalibur One 77B LLC			1.492		01/01/25		381,262
	4,150,000		Federal Home Loan Mortgage Corp (FHLMC)			1.125		08/12/21		4,166,712
	11,250,000		FHLMC			0.125		07/25/22		11,248,960
	23,000,000		FHLMC			0.375		05/05/23		23,098,868
	18,700,000		FHLMC			0.250		08/24/23		18,704,261
	13,600,000		FHLMC			0.250		09/08/23		13,597,374
	22,692,000		FHLMC			0.250		12/04/23		22,658,132
	14,000,000		FHLMC			1.500		02/12/25		14,472,611
	17,500,000		Federal National Mortgage Association (FNMA)			0.250		07/10/23		17,513,362
	8,600,000		FNMA			0.625		04/22/25		8,577,193
	16,800,000		FNMA			0.875		08/05/30		15,533,554
	7,909,000		Hashemite Kingdom of Jordan Government AID Bond			3.000		06/30/25		8,489,904
	5,492,303		HNA LLC			2.369		09/18/27		5,769,563
	260,000	g	Hospital for Special Surgery			3.500		01/01/23		264,761
	821,750	i	Housing and Urban Development Corp Ltd	LIBOR 6 M + 0.035%		0.228		09/15/30		814,303
	7,192,000		Iraq Government AID Bond			2.149		01/18/22		7,297,209
	1,388,887	i	Jupiter Aircraft Leasing LLC	LIBOR 3 M + 0.240%		0.421		08/19/23		1,386,495
	1,388,885	i	Jupiter Aircraft Leasing LLC	LIBOR 3 M + 0.240%		0.427		09/22/23		1,380,357
	2,150,000		New York Society for the Relief of the Ruptured & Crippled			2.881		12/20/31		2,167,263
	1,530,945		Overseas Private Investment Corp (OPIC)			2.040		12/15/26		1,577,290
	4,562,598		OPIC			3.220		09/15/29		5,106,457
	5,881,381		OPIC			1.790		10/15/29		6,185,883
	14,703,453		OPIC			2.360		10/15/29		15,845,259
	1,008,000		OPIC			4.140		05/15/30		1,152,674
	894,085		OPIC			3.330		05/15/33		984,767
	1,000,903		OPIC			2.810		07/31/33		1,067,353
	800,722		OPIC			2.940		07/31/33		860,763
	1,162,805		OPIC			3.250		07/31/33		1,272,568
	6,103,020		OPIC			2.040		06/15/35		6,107,976
	10,000,000		OPIC			2.290		07/15/38		10,221,344
	5,500,000		OPIC			2.450		07/15/38		5,716,635
	1,926,000		Private Export Funding Corp (PEFCO)			3.550		01/15/24		2,091,950
	1,000,000		PEFCO			3.250		06/15/25		1,088,295
	14,000,000		Thirax LLC			0.968		01/14/33		13,881,500
	1,813,426		United States International Development Finance Corp			1.050		10/15/29		1,846,381

223

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	2,500,000		US Department of Housing and Urban Development (HUD)			2.618	%	08/01/23	$	2,631,828
	2,000,000		HUD			2.800		08/01/23		2,114,103
	500,000		HUD			2.910		08/01/23		504,386
	3,000,000		HUD			2.960		08/01/24		3,025,632
	3,726,000		HUD			2.870		08/01/27		4,055,234
	420,000		HUD			5.380		08/01/27		426,562
	4,675,000		HUD			2.985		08/01/28		5,064,327
	1,931,000		HUD			3.185		08/01/29		2,086,134
	1,083,333		VCM Lease S.A.			2.516		09/28/27		1,143,110
	737,000		Vessel Management Services, Inc			3.432		08/15/36		795,649
	261,000		Vessel Management Services, Inc			3.477		01/16/37		282,753
	2,774,732	i	Washington Aircraft 2 Co Ltd	LIBOR 3 M + 0.430%		0.625		06/26/24		2,778,789
			TOTAL AGENCY SECURITIES							279,950,468

FOREIGN GOVERNMENT BONDS - 5.8%
	2,700,000		African Development Bank			3.000		12/06/21		2,751,587
	12,750,000		African Development Bank			0.750		04/03/23		12,873,833
	1,000,000		Asian Development Bank			1.875		08/10/22		1,022,706
	1,000,000		Asian Development Bank			2.125		03/19/25		1,055,330
	13,428,000		Asian Development Bank			1.750		08/14/26		13,888,848
	13,489,000		Asian Development Bank			3.125		09/26/28		14,947,213
	12,500,000		Asian Development Bank			1.500		03/04/31		12,035,569
EUR	7,925,000	g	Banque Ouest Africaine de Developpement			2.750		01/22/33		9,556,058
$	7,500,000	g	BNG Bank NV			2.625		02/27/24		7,964,335
CLP	9,475,000,000	g	Bonos de la Tesoreria de la Republica en pesos			2.300		10/01/28		12,696,725
$	8,500,000	g	Caisse d’Amortissement de la Dette Sociale			0.375		09/23/25		8,278,386
	9,500,000		Chile Government International Bond			3.500		01/25/50		9,661,025
	12,500,000	g	Development Bank of Japan, Inc			0.500		03/04/24		12,469,187
	9,875,000	g	Egypt Government International Bond			5.250		10/06/25		10,196,837
	200,000	i	European Bank for Reconstruction & Development	LIBOR 3 M + 0.010%		0.213		05/11/22		199,928
	15,000,000		European Bank for Reconstruction & Development			1.625		09/27/24		15,540,036
	1,000,000		European Bank for Reconstruction & Development			1.500		02/13/25		1,030,526
	1,250,000		European Investment Bank			2.375		05/24/27		1,334,462
	3,725,000		European Investment Bank			0.625		10/21/27		3,548,578
	10,500,000		European Investment Bank			1.625		10/09/29		10,454,370
	10,279,000		European Investment Bank			0.750		09/23/30		9,331,109
	9,300,000	g	European Stability Mechanism			1.375		09/11/24		9,550,514
	3,650,000	g	Guatemala Government International Bond			5.375		04/24/32		4,133,625
	5,000,000	i	Inter-American Development Bank	LIBOR 3 M + 0.010%		0.251		01/15/22		5,000,444
	10,000,000		International Bank for Reconstruction & Development			0.625		04/22/25		9,961,699
	4,750,000		International Bank for Reconstruction & Development			3.125		11/20/25		5,220,013
	2,900,000		International Bank for Reconstruction & Development			2.750		05/31/36		2,816,776
	10,450,000	g	International Development Association			2.750		04/24/23		10,980,860
	6,500,000		International Finance Corp			1.546		11/04/21		6,545,273
	110,000	i	International Finance Corp	LIBOR 3 M + 0.070%		0.254		12/15/22		110,102
	7,375,000		International Finance Corp			0.500		03/20/23		7,399,227
	3,250,000		International Finance Corp			2.125		04/07/26		3,422,543

224

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	3,000,000	g	Japan Finance Organization for Municipalities			2.125	%	04/13/21	$	3,001,268
	3,350,000	g	Japan Finance Organization for Municipalities			3.375		09/27/23		3,579,037
	6,000,000	g	Kommunalbanken AS.			2.125		02/11/25		6,319,067
	5,500,000	i	Korea Development Bank International Bond	LIBOR 3 M + 0.725%		0.962		07/06/22		5,531,093
	10,100,000	g	Korea Electric Power Corp			1.125		06/15/25		10,028,152
	11,750,000		Kreditanstalt fuer Wiederaufbau			0.250		03/08/24		11,690,545
	13,250,000		Landwirtschaftliche Rentenbank			0.875		09/03/30		12,168,858
	100,000	g	Nederlandse Waterschapsbank NV			2.125		11/15/21		101,171
	6,000,000	g	Nederlandse Waterschapsbank NV			3.125		12/05/22		6,287,039
	10,000,000	g	Nederlandse Waterschapsbank NV			1.750		01/15/25		10,390,167
	7,750,000	g	Nederlandse Waterschapsbank NV			2.375		03/24/26		8,240,491
	5,000,000		North American Development Bank			2.400		10/26/22		5,136,826
	6,000,000	g	Perusahaan Penerbit SBSN Indonesia III			3.750		03/01/23		6,318,480
	6,600,000	g	Perusahaan Penerbit SBSN Indonesia III			3.900		08/20/24		7,151,430
	500,000		Province of Manitoba Canada			3.050		05/14/24		537,739
	5,000,000		Province of Quebec Canada			2.750		04/12/27		5,394,358
	10,000,000		Republic of Italy Government International Bond			2.875		10/17/29		10,107,883
	10,750,000		Republic of Italy Government International Bond			4.000		10/17/49		11,000,442
	4,250,000		Seychelles International Bond			6.500		10/11/28		3,760,187
			TOTAL FOREIGN GOVERNMENT BONDS							362,721,957

MORTGAGE BACKED - 21.3%
	875,000		Federal Home Loan Mortgage Corp (FHLMC)			3.000		10/15/33		948,899
	161,676		FHLMC			4.000		06/01/42		177,060
	698,931		FHLMC			3.500		08/15/43		721,303
	12,384,815		FHLMC			3.500		03/15/44		12,997,539
	923,186	i	FHLMC	LIBOR 1 M + 5.920%		5.814		03/15/44		170,687
	7,876,559		FHLMC			4.000		10/01/47		8,652,229
	30,462,944		FHLMC			4.000		06/01/48		33,427,703
	1,337,603	i	FHLMC	LIBOR 1 M + 9.920%		9.750		06/15/48		1,516,282
	7,563,124		FHLMC			4.000		07/01/48		8,263,716
	1,215,594	i	FHLMC	LIBOR 1 M + 9.840%		9.670		10/15/48		1,450,009
	6,746,303		FHLMC			4.000		09/01/49		7,376,930
	3,552,975		FHLMC			3.000		11/01/49		3,756,061
	10,524,068		FHLMC			2.000		09/25/50		1,275,680
	12,852,328		FHLMC			2.500		11/25/50		2,162,137
	17,045,509		FHLMC			2.500		02/25/51		2,786,760
	143,383		Federal Home Loan Mortgage Corp Gold (FGLMC)			5.000		06/01/36		166,783
	141,050		FGLMC			4.500		12/01/43		158,360
	155,767		FGLMC			4.500		02/01/44		174,885
	1,183,448		FGLMC			5.000		08/01/44		1,376,069
	193,591		FGLMC			3.500		04/01/45		210,216
	4,563,396		FGLMC			3.500		08/01/45		4,967,314
	1,349,519		FGLMC			3.500		10/01/45		1,464,287
	1,462,445		FGLMC			4.000		12/01/45		1,621,856
	2,489,307		FGLMC			3.500		08/01/46		2,692,643
	6,658,349		FGLMC			3.000		01/01/47		7,037,219
	4,646,289		FGLMC			3.000		02/01/47		4,914,601
	3,146,052		FGLMC			3.500		02/01/47		3,361,744
	325,575		FGLMC			4.500		06/01/47		365,567
	535,078		FGLMC			4.000		09/01/47		589,951
	108,836		FGLMC			3.500		12/01/47		117,558

225

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	15,743,522		FGLMC			3.500	%	03/01/48	$	16,987,129
	1,670,319		FGLMC			4.000		03/01/48		1,834,340
	616,282		FGLMC			4.000		07/01/48		673,611
	2,574,704		FGLMC			4.500		08/01/48		2,867,693
	3,750,000		Federal National Mortgage Association (FNMA)			2.125		04/24/26		3,965,270
	138,938		FNMA			3.500		07/01/26		148,287
	5,680,393	i	FNMA			2.805		02/25/27		6,126,279
	10,000,000	i	FNMA			3.325		06/25/28		11,129,490
	475,383		FNMA			3.500		05/01/32		513,718
	7,544,568		FNMA			3.000		10/01/32		7,969,457
	67,000,000	h	FNMA			2.000		04/25/36		68,760,258
	40,900,000	h	FNMA			2.500		05/25/32		42,534,402
	164,510		FNMA			5.500		11/01/38		193,342
	6,846,187		FNMA			3.000		05/01/40		7,171,846
	2,016,956		FNMA			3.500		05/01/40		2,139,765
	548,917		FNMA			5.000		09/01/40		634,128
	595,066		FNMA			5.000		04/01/41		692,259
	2,576,846		FNMA			4.000		09/01/42		2,824,768
	564,605		FNMA			3.000		04/25/43		585,725
	1,101,143	i	FNMA	LIBOR 1 M + 5.950%		5.841		09/25/43		258,583
	1,087,029		FNMA			4.000		01/01/44		1,203,236
	63,542		FNMA			4.500		06/01/44		70,556
	414,165		FNMA			4.500		06/01/44		464,902
	190,067		FNMA			4.500		08/01/44		213,321
	379,762		FNMA			4.500		11/01/44		426,426
	1,087,233		FNMA			4.000		01/01/45		1,198,252
	314,289		FNMA			3.000		02/25/45		327,775
	611,507		FNMA			3.000		02/25/45		630,286
	418,996		FNMA			4.500		03/01/45		470,547
	574,481		FNMA			3.000		03/25/45		594,979
	660		FNMA			3.500		04/25/45		682
	1,390,066		FNMA			4.000		06/01/45		1,536,109
	1,551,649		FNMA			4.000		12/01/45		1,715,731
	2,090,717		FNMA			3.000		12/25/45		2,168,710
	951,599		FNMA			3.500		01/01/46		1,028,402
	211,231		FNMA			4.000		01/01/46		232,950
	251,101		FNMA			4.000		03/01/46		276,268
	1,511,115		FNMA			3.500		06/01/46		1,635,005
	1,831,479		FNMA			3.500		07/01/46		1,981,165
	2,586,042		FNMA			3.500		07/01/46		2,808,721
	2,832,173		FNMA			3.500		08/01/46		3,064,369
	5,350,210		FNMA			3.000		10/01/46		5,486,474
	10,382,170		FNMA			3.000		11/01/46		10,968,603
	5,497,295		FNMA			3.500		01/01/47		5,851,164
	611,979		FNMA			3.000		04/25/47		650,619
	215,824		FNMA			4.500		05/01/47		241,631
	5,309,653		FNMA			3.500		08/01/47		5,682,968
	6,982,610		FNMA			4.000		09/01/47		7,532,701
	1,425,653		FNMA			4.000		10/01/47		1,530,698
	456,995		FNMA			3.000		11/01/47		468,668
	6,173,391		FNMA			3.500		11/01/47		6,689,479
	432,919		FNMA			4.500		11/01/47		482,017
	7,793,928		FNMA			4.000		12/01/47		8,561,513
	8,063,998		FNMA			4.000		12/01/47		8,701,588

226

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	150,296		FNMA			3.500	%	01/01/48	$	162,100
	58,579		FNMA			3.500		01/01/48		63,203
	6,308,299		FNMA			3.500		01/01/48		6,691,650
	1,483,421		FNMA			4.500		01/01/48		1,649,858
	19,797,206		FNMA			3.500		02/01/48		20,934,750
	350,482		FNMA			4.000		02/01/48		377,048
	392,726		FNMA			4.500		02/01/48		437,248
	3,272,322		FNMA			3.000		02/25/48		3,457,910
	18,825,976		FNMA			3.500		03/01/48		19,965,840
	878,791		FNMA			4.000		03/01/48		964,745
	1,679,122		FNMA			4.500		03/01/48		1,869,475
	33,966,462		FNMA			3.500		04/01/48		36,009,921
	6,809,512		FNMA			4.000		04/01/48		7,323,548
	1,060,947		FNMA			4.500		05/01/48		1,181,229
	795,662		FNMA			4.500		05/01/48		885,870
	424,684		FNMA			5.000		08/01/48		481,059
	17,619,510		FNMA			4.500		10/01/48		19,943,830
	1,088,544		FNMA			3.000		11/01/48		1,135,612
	123,145,000	h	FNMA			3.000		04/25/51		128,268,024
	718,081		FNMA			3.000		08/01/49		761,814
	9,680,874		FNMA			3.000		01/25/50		10,097,773
	137,500,000	h	FNMA			2.500		05/25/51		140,803,223
	20,908,694		FNMA			3.000		07/01/50		22,245,384
	5,972,888		FNMA			2.000		08/25/50		739,478
	5,721,896		FNMA			3.000		02/25/51		914,268
	37,190,000	h	FNMA			2.000		04/25/51		37,120,269
	58,640,000	h	FNMA			2.500		04/25/51		60,174,719
	99,600,000	h	FNMA			2.000		05/25/51		99,230,391
	668,018		Government National Mortgage Association (GNMA)			2.690		06/15/33		689,548
	47,365		GNMA			5.000		06/20/42		54,497
	12,100,222		GNMA			2.750		01/15/45		12,686,147
	1,113,136		GNMA			4.000		06/20/46		146,339
	4,923,324		GNMA			3.500		12/20/46		5,237,980
	3,524,214		GNMA			3.500		01/20/47		3,750,788
	1,788,144		GNMA			3.500		01/20/49		1,947,558
	2,743		GNMA			4.000		07/20/49		2,934
	51,874,731		GNMA			3.000		08/20/50		54,072,235
	2,635,842		GNMA			3.500		10/20/50		2,911,381
	39,325,000	h	GNMA			2.000		04/20/51		39,705,961
	133,150,000	h	GNMA			2.500		04/20/51		137,383,755
	29,945,000	h	GNMA			3.000		04/20/47		31,195,438
	43,400,000	h	GNMA			2.000		05/20/51		43,749,235
			TOTAL MORTGAGE BACKED							1,335,232,948

MUNICIPAL BONDS - 7.5%
	2,000,000		Brunswick & Glynn County Development Authority			3.060		04/01/25		2,152,706
	500,000		California Earthquake Authority			1.227		07/01/21		501,207
	3,000,000		California Earthquake Authority			1.477		07/01/23		3,076,216
	1,310,000	g	California Municipal Finance Authority			4.250		11/01/23		1,310,002
	6,400,000	g	California Municipal Finance Authority			6.375		11/15/48		6,413,107
	10,000,000		Chicago Housing Authority			4.361		01/01/38		11,204,958

227

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	16,465,000		Chicago Metropolitan Water Reclamation District-Greater Chicago			5.720	%	12/01/38	$	21,902,028
	1,000,000		Chicago Park District			4.095		01/01/26		1,093,479
	625,000		Chula Vista Municipal Financing Authority			3.775		12/01/33		651,990
	1,350,000		Chula Vista Municipal Financing Authority			3.975		12/01/38		1,390,391
	740,000		Chula Vista Municipal Financing Authority			4.075		12/01/41		760,483
	4,300,000		Chula Vista Municipal Financing Authority			4.275		12/01/48		4,458,929
	5,730,000		City & County of Honolulu HI			3.944		09/01/34		6,462,449
	935,000		City & County of San Francisco CA			3.700		04/01/34		991,223
	440,000		City & County of San Francisco CA			3.750		04/01/35		464,786
	5,835,000		City & County of San Francisco CA			3.900		04/01/42		6,155,107
	5,405,000		City & County of San Francisco CA Community Facilities District			3.750		09/01/37		5,698,282
	4,610,000		City & County of San Francisco CA Community Facilities District			4.221		09/01/39		5,036,617
	5,000,000		City & County of San Francisco CA Community Facilities District			4.000		09/01/48		5,196,567
	1,925,000		City of Berkeley CA			3.250		09/01/35		1,982,744
	8,885,000		City of Berkeley CA			3.750		09/01/43		9,281,990
	510,000		City of Chicago IL			7.750		01/01/42		565,569
	2,490,000		City of Chicago IL			7.750		01/01/42		3,116,168
	525,000		City of Detroit MI			3.644		04/01/34		511,111
	2,750,000		City of Florence SC			4.250		12/01/34		2,875,144
	4,000,000		City of Los Angeles CA			3.500		09/01/37		4,221,287
	9,060,000		City of Los Angeles CA			3.880		09/01/38		9,832,648
	870,000	g	City of Miami FL			4.808		01/01/39		946,959
	170,000		City of Mount Shasta CA			4.000		08/01/29		206,987
	190,000		City of Mount Shasta CA			3.000		08/01/32		208,630
	2,685,000		City of Oakland CA			1.830		01/15/27		2,675,606
	2,000,000		City of San Angelo TX Water & Sewer Revenue			4.401		02/15/46		2,053,414
	12,615,000		City of San Francisco CA Public Utilities Commission Water Revenue			3.303		11/01/39		13,337,037
	18,410,000		City of San Francisco CA Public Utilities Commission Water Revenue			2.825		11/01/41		18,555,154
	5,750,000		City of San Francisco CA Public Utilities Commission Water Revenue			4.185		11/01/46		6,211,777
	1,385,000		City of San Juan Capistrano CA			4.190		08/01/40		1,496,437
	360,000		Clean Water Services			5.701		10/01/30		444,950
	2,730,000		Commonwealth Financing Authority			3.864		06/01/38		3,048,748
	12,450,000	i	Connecticut Housing Finance Authority	SOFR + 0.650%		0.660		05/15/49		12,451,884
	5,000,000		County of Alameda CA			3.820		08/01/38		5,423,857
	1,500,000		County of Miami-Dade FL Aviation Revenue			2.218		10/01/22		1,540,626
	12,020,000		County of Miami-Dade FL Water & Sewer System Revenue			3.490		10/01/42		12,337,784
	2,730,000		County of Saline AR			4.000		06/01/37		2,798,689
	3,500,000		District of Columbia			3.432		04/01/42		3,439,854
	1,900,000		District of Columbia Water & Sewer Authority			4.814		10/01/14		2,465,261
	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
	6,844,477	g	Freddie Mac Multifamily ML Certificates			1.877		07/25/37		6,809,608
	40,656,000	†	Freddie Mac Multifamily ML Certificates			1.746		11/25/37		6,851,032
	3,247,689	g	Freddie Mac Multifamily ML Certificates			1.896		11/25/37		3,228,510
	20,000,000		Grant County Public Utility District No 2			2.918		01/01/40		20,459,988
	9,405,000		Grant County Public Utility District No 2			3.210		01/01/40		9,834,533

228

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	9,375,000		Great Lakes Water Authority Sewage Disposal System Revenue		3.056	%	07/01/39	$	9,544,452
	13,265,000		Great Lakes Water Authority Water Supply System Revenue		3.473		07/01/41		14,063,130
	1,180,000		Idaho State Building Authority		3.202		09/01/37		1,208,355
	3,105,000		Jackson County Industrial Development Authority		4.250		05/01/39		3,217,709
	2,000,000		Kern County Water Agency Improvement District No 4		4.276		05/01/36		2,284,999
	450,000		Klickitat County Public Utilities		3.688		12/01/38		462,795
	1,000,000		Lavaca-Navidad River Authority		4.430		08/01/35		1,052,962
	7,690,000		Los Angeles Community College District		2.106		08/01/32		7,556,756
	3,125,000		Maryland Community Development Administration Housing Revenue		3.797		03/01/39		3,236,497
	3,000,000		Massachusetts St. Water Pollution Abatement		5.192		08/01/40		3,443,237
	6,000,000		Massachusetts Water Resources Authority		3.104		08/01/39		6,282,074
	10,735,000		Metropolitan Transportation Authority		5.175		11/15/49		13,297,362
	4,065,000		New York City Housing Development Corp		3.119		08/01/38		4,078,848
	2,500,000		New York City Housing Development Corp		3.720		11/01/39		2,592,254
	1,370,000		New York State Energy Research & Development Authority		2.465		10/01/26		1,364,764
	1,210,000		New York State Energy Research & Development Authority		2.665		10/01/27		1,203,211
	1,045,000		New York State Energy Research & Development Authority		2.879		10/01/28		1,029,920
	680,000		New York State Energy Research & Development Authority		4.577		04/01/35		726,075
	2,115,000		New York State Environmental Facilities Corp		3.420		07/15/26		2,338,301
	1,500,000		New York Transportation Development Corp		1.610		12/01/22		1,513,790
	7,500,000		New York Transportation Development Corp		5.000		01/01/26		8,760,192
	1,500,000	g	Ohio Air Quality Development Authority		4.250		01/15/38		1,656,769
	2,000,000	g	Ohio Air Quality Development Authority		4.500		01/15/48		2,220,233
	13,180,000		Ohio State Water Development Authority		4.879		12/01/34		15,529,494
	5,750,000	†,g,q	Oregon State Business Development Commission		6.500		04/01/31		1,840,000
	2,000,000	†,q	Oregon State Business Development Commission		11.500		04/01/31		640,000
	2,665,000		Papio-Missouri River Natural Resource District		2.198		12/15/25		2,761,437
	2,080,000		Papio-Missouri River Natural Resource District		2.318		12/15/26		2,148,507
	3,250,000		Papio-Missouri River Natural Resource District		2.482		12/15/27		3,364,582
	2,725,000		Pend Oreille County Public Utility District No Box Canyon		5.000		01/01/30		2,781,280
	7,250,000	g	Pennsylvania Economic Development Financing Authority		10.000		12/01/29		7,381,469
	100,000	†,g	Pennsylvania Economic Development Financing Authority		5.750		06/01/36		60,000
	1,735,000	g	Public Finance Authority		9.000		06/01/29		1,722,453
	1,000,000		Rhode Island Housing & Mortgage Finance Corp		3.300		10/01/39		1,022,835
	1,450,000		Rhode Island Housing & Mortgage Finance Corp		3.400		10/01/44		1,475,197
	6,950,000		Rhode Island Housing & Mortgage Finance Corp		3.500		10/01/51		7,095,187
	1,000,000		San Francisco City & County Redevelopment Agency		3.533		08/01/25		1,083,472
	1,000,000		San Francisco City & County Redevelopment Agency		4.375		08/01/44		1,064,683
	250,000		Sangamon County Water Reclamation District		2.507		01/01/29		249,637

229

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	2,500,000		Sangamon County Water Reclamation District			2.907	%	01/01/34	$	2,420,636
	2,050,000		Sangamon County Water Reclamation District			3.272		01/01/37		1,968,754
	3,000,000		Semitropic Improvement District			2.499		12/01/25		3,132,770
	255,000	g	South Davis Sewer District			3.750		12/01/22		257,203
	1,000,000		South Davis Sewer District			4.125		12/01/32		1,088,382
	1,100,000		South Davis Sewer District			4.500		12/01/37		1,203,148
	2,090,000		State of California			4.600		04/01/38		2,413,811
	2,480,000		State of California			4.988		04/01/39		2,677,450
	10,750,000	i	State of California	LIBOR 1 M + 0.780%		0.899		04/01/47		10,759,691
	1,000,000		State of Texas			3.726		08/01/43		1,039,202
	6,625,000		Stockton Public Financing Authority			3.610		10/01/40		6,856,344
	665,000		Sustainable Energy Utility, Inc			1.650		09/15/22		668,811
	2,400,000	g	Syracuse Industrial Development Agency			5.000		01/01/36		2,259,798
	1,000,000		Texas Water Development Board			3.500		10/15/37		1,057,772
	7,500,000		Texas Water Development Board			4.190		10/15/43		8,201,601
	3,000,000		Texas Water Development Board			3.700		10/15/47		3,174,622
	3,000,000		Texas Water Development Board			4.648		04/15/50		3,228,142
	2,000,000		University of New Mexico			3.532		06/20/32		2,115,649
	4,400,000		Upper Santa Clara Valley Joint Powers Authority			3.875		08/01/48		4,617,833
	5,000,000		Vermont Educational & Health Buildings Financing Agency			4.000		12/01/42		5,296,855
	750,000		Vermont Educational & Health Buildings Financing Agency			4.000		12/01/46		790,640
	1,000,000	g	Warm Springs Reservation Confederated Tribe			3.300		11/01/27		1,028,036
	1,250,000	g	Warm Springs Reservation Confederated Tribe			3.550		11/01/32		1,260,840
	530,000		Washington County Clean Water Services			5.078		10/01/24		605,825
	1,905,000	g,q	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		698,631
	1,500,000		Yuba City Public Financing Authority			4.320		06/01/42		1,596,996
	1,000,000		Yuba Levee Financing Authority			3.170		09/01/22		1,030,851
			TOTAL MUNICIPAL BONDS							471,495,974

U.S. TREASURY SECURITIES - 6.0%
	2,500,000		United States Treasury Bond			3.125		05/15/48		2,866,992
	2,500,000		United States Treasury Bond			3.000		02/15/49		2,808,594
	20,740,400	k	United States Treasury Inflation Indexed Bonds			0.500		04/15/24		22,481,189
	12,742,625	k	United States Treasury Inflation Indexed Bonds			0.125		10/15/24		13,782,941
	15,100,000		United States Treasury Note			0.125		12/31/22		15,093,512
	11,140,000		United States Treasury Note			0.125		03/31/23		11,132,602
	26,730,000		United States Treasury Note			0.250		03/15/24		26,658,998
	1,092,000		United States Treasury Note			1.875		08/31/24		1,143,785
	1,395,000		United States Treasury Note			2.250		10/31/24		1,480,117
	620,000		United States Treasury Note			2.875		04/30/25		675,122
	50,207,000		United States Treasury Note			0.750		03/31/26		49,771,611
	3,235,000		United States Treasury Note			0.500		10/31/27		3,064,025
	6,025,000		United States Treasury Note			0.625		11/30/27		5,745,402
	20,935,000		United States Treasury Note			1.125		02/29/28		20,568,638
	5,000,000		United States Treasury Note			1.250		03/31/28		4,948,438
	77,990,000	e	United States Treasury Note			1.125		02/15/31		73,688,364
	21,508,000		United States Treasury Note			1.875		02/15/41		20,025,964
	53,510,000		United States Treasury Note			1.375		08/15/50		41,754,522
	52,567,000		United States Treasury Note			1.625		11/15/50		43,803,095
	18,125,000		United States Treasury Note			1.875		02/15/51		16,085,938

230

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

			TOTAL U.S. TREASURY SECURITIES						$	377,579,849

			TOTAL GOVERNMENT BONDS							2,826,981,196
			(Cost $2,804,458,670)

STRUCTURED ASSETS - 9.4%

ASSET BACKED - 4.0%
$	324,688	g	AMSR Trust			1.819	%	04/17/37		328,550
			Series - 2020 SFR1 (Class A)
	450,000	g	AMSR Trust			3.148		01/19/39		467,377
			Series - 2019 SFR1 (Class C)
	400,000	g	AMSR Trust			3.247		01/19/39		413,860
			Series - 2019 SFR1 (Class D)
	5,000,000	g,i	AREIT Trust	LIBOR 1 M + 1.020%		1.126		09/14/36		5,000,819
			Series - 2019 CRE3 (Class A)
	361,512	i	Asset Backed Securities Corp Home Equity Loan Trust	LIBOR 1 M + 0.900%		3.386		08/25/34		353,362
			Series - 2004 HE5 (Class M1)
	350,000	i	Bayview Financial Mortgage Pass-Through Trust	LIBOR 1 M + 0.975%		1.084		02/28/41		349,476
			Series - 2006 A (Class M3)
	5,000,000	g,i	BFLD Trust	LIBOR 1 M + 2.100%		2.206		10/15/35		5,050,008
			Series - 2020 EYP (Class C)
	919,388	g	Capital Automotive REIT			3.660		10/15/44		920,648
			Series - 2014 1A (Class A)
	917,022	g	Capital Automotive REIT			3.870		04/15/47		918,552
			Series - 2017 1A (Class A1)
	193,723	i	C-BASS Trust	LIBOR 1 M + 0.080%		0.189		07/25/36		187,942
			Series - 2006 CB6 (Class A1)
	1,447,025	†,g,i	CBRE Realty Finance	LIBOR 3 M + 0.300%		0.520		04/07/52		3,618
			Series - 2007 1A (Class A2)
	1,750,181	i	Chase Funding Loan Acquisition Trust	LIBOR 1 M + 0.855%		0.964		06/25/34		1,709,663
			Series - 2004 OPT1 (Class M1)
	1,005,683	g	Corevest American Finance Trust			1.832		03/15/50		1,021,942
			Series - 2020 1 (Class A1)
	970,000	g	DB Master Finance LLC			3.629		11/20/47		987,683
			Series - 2017 1A (Class A2I)
	1,846,875	g	DB Master Finance LLC			3.787		05/20/49		1,884,533
			Series - 2019 1A (Class A2I)
	861,750	g	Domino’s Pizza Master Issuer LLC			4.474		10/25/45		909,991
			Series - 2015 1A (Class A2II)
	3,007,000	g	Domino’s Pizza Master Issuer LLC			3.082		07/25/47		3,011,781
			Series - 2017 1A (Class A2II)
	782,000	g	Domino’s Pizza Master Issuer LLC			4.116		07/25/48		821,718
			Series - 2018 1A (Class A2I)
	581,150	g,i	Ellington Loan Acquisition Trust	LIBOR 1 M + 1.100%		1.209		05/25/37		582,048
			Series - 2007 2 (Class A2C)
	7,789,000	g	GSCG Trust			2.936		09/06/34		7,997,776
			Series - 2019 600C (Class A)
	1,086,040	g	HERO Funding Trust			3.840		09/21/40		1,138,964
			Series - 2015 1A (Class A)
	243,878	†,g	HERO Funding Trust			3.990		09/21/40		253,035
			Series - 2014 2A (Class A)
	1,294,140	g	HERO Funding Trust			3.750		09/20/41		1,335,772
			Series - 2016 2A (Class A)

231

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	1,067,871	g	HERO Funding Trust			4.050	%	09/20/41	$	1,116,948
			Series - 2016 1A (Class A)
	2,774,824	g	HERO Funding Trust			3.080		09/20/42		2,849,822
			Series - 2016 3A (Class A1)
	2,503,473	g	HERO Funding Trust			3.910		09/20/42		2,584,450
			Series - 2016 3A (Class A2)
	2,434,163	g	HERO Funding Trust			3.570		09/20/47		2,534,909
			Series - 2016 4A (Class A1)
	2,351,769	g	HERO Funding Trust			3.710		09/20/47		2,444,667
			Series - 2017 1A (Class A1)
	360,617	g	HERO Funding Trust			4.290		09/20/47		375,589
			Series - 2016 4A (Class A2)
	3,997,868	g	HERO Funding Trust			3.190		09/20/48		4,178,787
			Series - 2017 3A (Class A1)
	3,741,053	g	HERO Funding Trust			3.950		09/20/48		3,968,244
			Series - 2017 3A (Class A2)
	1,556,607	g	HERO Funding Trust			4.070		09/20/48		1,605,615
			Series - 2017 2A (Class A2)
	5,519,050	g	HERO Funding Trust			4.670		09/20/48		6,054,091
			Series - 2018 1A (Class A2)
	4,002,551	g	HERO Funding Trust			2.720		09/20/57		4,051,113
			Series - 2020 1A (Class A)
	41,996	i	Home Equity Asset Trust	LIBOR 1 M + 1.500%		3.986		06/25/33		42,426
			Series - 2003 1 (Class M1)
	99,980	g,i	Invitation Homes Trust	LIBOR 1 M + 1.450%		1.556		06/17/37		100,062
			Series - 2018 SFR2 (Class D)
	500,000	g,i	Invitation Homes Trust	LIBOR 1 M + 1.250%		1.358		01/17/38		502,358
			Series - 2018 SFR4 (Class B)
	361,002	i	JP Morgan Mortgage Acquisition Trust	LIBOR 1 M + 0.320%		0.429		03/25/37		357,521
			Series - 2007 CH3 (Class A1B)
	1,904,250	i	JP Morgan Mortgage Acquisition Trust	LIBOR 1 M + 0.160%		0.269		06/25/37		1,873,255
			Series - 2007 CH5 (Class A1)
	5,018,203	g	Loanpal Solar Loan Ltd			2.750		07/20/47		5,084,654
			Series - 2020 2GF (Class A)
	2,687,438	g	Loanpal Solar Loan Ltd			2.290		01/20/48		2,687,543
			Series - 2021 1GS (Class A)
	3,200,000	g	Loanpal Solar Loan Ltd			2.840		01/20/48		3,131,460
			Series - 2021 1GS (Class B)
	7,650,000	g	Loanpal Solar Loan Ltd			2.220		03/20/48		7,639,623
			Series - 2021 2GS (Class A)
	2,530,670	g	Mosaic Solar Loan Trust			2.100		04/20/46		2,554,892
			Series - 2020 1A (Class A)
	3,215,195	g	Mosaic Solar Loan Trust			3.100		04/20/46		3,350,959
			Series - 2020 1A (Class B)
	3,154,090	g	Mosaic Solar Loans LLC			3.820		06/22/43		3,391,041
			Series - 2017 2A (Class A)
	290,000	g,i	MSCG Trust			3.462		06/07/35		225,963
			Series - 2015 ALDR (Class D)
	474,034	g	MVW Owner Trust			2.420		12/20/34		484,374
			Series - 2017 1A (Class A)
	4,000,000		PSNH Funding LLC			3.506		08/01/28		4,381,421
			Series - 2018 1 (Class A2)
	228,695	i	RASC Trust	LIBOR 1 M + 0.590%		3.080		08/25/35		228,770
			Series - 2005 KS8 (Class M4)

232

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	1,111,056	g	Renew			3.670	%	09/20/52	$	1,179,604
			Series - 2017 1A (Class A)
	3,059,463	g	Renew			3.950		09/20/53		3,275,712
			Series - 2018 1 (Class A)
	5,750,000	†,g	Renew			2.060		11/20/56		5,749,136
			Series - 2021 1 (Class A)
	4,000,000		SCE Recovery Funding LLC			0.861		11/15/31		3,876,467
	75,695	g	SolarCity LMC			4.800		11/20/38		79,501
			Series - 2013 1 (Class A)
	2,997,220	g	SolarCity LMC			4.590		04/20/44		2,999,192
			Series - 2014 1 (Class A)
	683,825	g	SolarCity LMC			4.020		07/20/44		692,904
			Series - 2014 2 (Class A)
	2,524,862	g	SolarCity LMC			4.800		09/20/48		2,608,057
			Series - 2016 A (Class A)
	271,580	i	Structured Asset Securities Corp Mortgage Loan Trust	LIBOR 1 M + 1.500%		1.615		04/25/35		272,327
			Series - 2005 7XS (Class 2A1A)
	5,447,605	g	Sunrun Athena Issuer LLC			5.310		04/30/49		5,974,892
			Series - 2018 1 (Class A)
	6,991,823	g	Sunrun Atlas Issuer LLC			3.610		02/01/55		7,379,583
			Series - 2019 2 (Class A)
	16,305,119	g	Sunrun Callisto Issuer LLC			3.980		06/30/54		17,391,834
			Series - 2019 1A (Class A)
	10,000,000	g	Sunrun Vulcan Issuer LLC			2.460		01/30/52		9,893,170
			Series - 2021 1A (Class A)
	10,278,951	g	TES LLC			4.330		10/20/47		10,684,361
			Series - 2017 1A (Class A)
	3,500,000	g	TES LLC			7.740		10/20/47		3,444,919
			Series - 2017 1A (Class B)
	4,331,397	g	TES LLC			4.120		02/20/48		4,467,844
			Series - 2017 2A (Class A)
	5,814,642	g	Tesla Auto Lease Trust			3.710		08/20/21		5,827,341
			Series - 2018 B (Class A)
	2,624,170	g	Tesla Auto Lease Trust			2.130		04/20/22		2,641,124
			Series - 2019 A (Class A2)
	4,000,000	g	Tesla Auto Lease Trust			7.870		06/20/22		4,103,306
			Series - 2018 B (Class E)
	3,988,000	g	Tesla Auto Lease Trust			2.160		10/20/22		4,058,900
			Series - 2019 A (Class A3)
	4,125,000	g	Tesla Auto Lease Trust			2.200		11/21/22		4,223,734
			Series - 2019 A (Class A4)
	1,650,000	g	Tesla Auto Lease Trust			5.480		05/22/23		1,742,088
			Series - 2019 A (Class E)
	1,000,000	g	Tesla Auto Lease Trust			2.330		02/20/24		1,023,029
			Series - 2020 A (Class D)
	6,650,000	g	Tesla Auto Lease Trust			0.660		03/20/25		6,643,596
			Series - 2021 A (Class A4)
	10,250,000	g	Tesla Auto Lease Trust			1.340		03/20/25		10,229,336
			Series - 2021 A (Class D)
	500,000	g	Tricon American Homes Trust			4.011		09/17/34		506,132
			Series - 2017 SFR1 (Class E)

233

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	596,570	g	Tricon American Homes Trust			2.928	%	01/17/36	$	610,674
			Series - 2017 SFR2 (Class A)
	100,000	g	Tricon American Homes Trust			3.275		01/17/36		102,065
			Series - 2017 SFR2 (Class B)
	5,519,353	g	Vivint Colar Financing V LLC			4.730		04/30/48		5,923,953
			Series - 2018 1A (Class A)
	10,034,907	g	Vivint Colar Financing V LLC			7.370		04/30/48		10,683,597
			Series - 2018 1A (Class B)
	4,876,619	g	Vivint Solar Financing VII LLC			2.210		07/31/51		4,799,304
			Series - 2020 1A (Class A)
	1,451,250	g	Wendys Funding LLC			3.573		03/15/48		1,491,754
			Series - 2018 1A (Class A2I)
			TOTAL ASSET BACKED							248,029,111

OTHER MORTGAGE BACKED - 5.4%
	2,165,000	g,i	20 Times Square Trust			3.100		05/15/35		2,162,819
			Series - 2018 20TS (Class B)
	188,030	g,i	Agate Bay Mortgage Trust			3.500		11/25/44		190,488
			Series - 2014 3 (Class A13)
	28,910	g,i	Agate Bay Mortgage Trust			3.500		09/25/45		29,256
			Series - 2015 6 (Class A9)
	4,075,000	g,i	Alen Mortgage Trust	LIBOR 1 M + 2.250%		2.356		04/15/34		4,076,216
			Series - 2021 ACEN (Class C)
	152,580	i	Alternative Loan Trust	LIBOR 1 M + 0.750%		0.859		06/25/34		156,520
			Series - 2004 8CB (Class M1)
	750,000		Banc of America Commercial Mortgage Trust			3.019		07/15/49		793,186
			Series - 2016 UB10 (Class ASB)
	5,000,000	g	BANK			2.500		10/17/52		4,427,073
			Series - 2019 BN21 (Class D)
	6,500,000	i	BANK			3.517		10/17/52		6,605,758
			Series - 2019 BN21 (Class C)
	2,000,000		BANK			3.203		12/15/52		2,117,818
			Series - 2019 BN23 (Class AS)
	8,000,000	i	BANK			3.461		11/15/62		8,125,198
			Series - 2019 BN22 (Class C)
	4,500,000	g,i	BBCMS Mortgage Trust			4.267		08/05/38		3,836,112
			Series - 2018 CHRS (Class E)
	5,750,000	g	BBCMS Trust			3.593		09/15/32		5,900,664
			Series - 2015 MSQ (Class A)
	200,000	g	BBCMS Trust			4.197		08/10/35		223,140
			Series - 2015 SRCH (Class A2)
	3,000,000	g,i	BBCMS Trust			3.688		02/15/53		3,092,922
			Series - 2020 C6 (Class F5TA)
	1,000,000		Benchmark Mortgage Trust			3.419		08/15/52		1,066,543
			Series - 2019 B12 (Class AS)
	5,500,000	g,i	Benchmark Mortgage Trust			3.899		03/15/62		5,734,444
			Series - 2019 B10 (Class 3CCA)
	7,053,834	g,i	BX Commercial Mortgage Trust	LIBOR 1 M + 0.920%		1.026		10/15/36		7,058,260
			Series - 2019 XL (Class A)
	4,702,556	g,i	BX Commercial Mortgage Trust	LIBOR 1 M + 1.250%		1.356		10/15/36		4,702,555
			Series - 2019 XL (Class C)
	2,821,534	g,i	BX Commercial Mortgage Trust	LIBOR 1 M + 1.800%		1.906		10/15/36		2,819,839
			Series - 2019 XL (Class E)
	2,000,000	i	CD Mortgage Trust			3.879		11/10/49		2,103,286
			Series - 2016 CD2 (Class B)

234

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	5,000,000	i	Citigroup Commercial Mortgage Trust			3.758	%	04/10/48	$	5,254,887
			Series - 2015 GC29 (Class B)
	4,000,000		Citigroup Commercial Mortgage Trust			3.300		11/10/52		4,274,486
			Series - 2019 GC43 (Class AS)
	5,000,000		Citigroup Commercial Mortgage Trust			3.018		08/10/56		5,222,361
			Series - 2019 GC41 (Class AS)
	90,000	i	Citigroup Mortgage Loan Trust	LIBOR 1 M + 0.750%		0.859		01/25/36		89,772
			Series - 2006 WFH1 (Class M4)
	2,250,000	g,i	Cityline Commercial Mortgage Trust			2.778		11/10/31		2,337,686
			Series - 2016 CLNE (Class A)
	2,815,000	g	COMM Mortgage Trust			4.353		08/10/30		3,002,856
			Series - 2013 300P (Class A1)
	2,000,000		COMM Mortgage Trust			4.701		03/10/47		2,167,563
			Series - 2014 UBS2 (Class B)
	2,000,000	i	COMM Mortgage Trust			4.703		08/10/47		2,191,069
			Series - 2014 CR19 (Class B)
	1,000,000	g,i	COMM Mortgage Trust			4.709		08/10/47		960,913
			Series - 2014 CR19 (Class D)
	589,490		COMM Mortgage Trust			3.040		02/10/48		616,227
			Series - 2015 LC19 (Class ASB)
	3,500,000	g,i	COMM Mortgage Trust			4.106		03/10/48		3,495,917
			Series - 2015 CR22 (Class D)
	2,000,000	i	COMM Mortgage Trust			4.293		05/10/48		2,030,215
			Series - 2015 CR23 (Class D)
	360,000	i	COMM Mortgage Trust			3.463		08/10/48		323,990
			Series - 2015 CR24 (Class D)
	2,250,000		COMM Mortgage Trust			3.263		08/15/57		2,371,587
			Series - 2019 GC44 (Class AM)
	542,948	i	Connecticut Avenue Securities	LIBOR 1 M + 2.600%		2.709		05/25/24		533,817
			Series - 2014 C02 (Class 1M2)
	1,277,093	i	Connecticut Avenue Securities	LIBOR 1 M + 3.000%		3.109		07/25/24		1,259,040
			Series - 2014 C03 (Class 1M2)
	131,239	i	Connecticut Avenue Securities	LIBOR 1 M + 5.000%		5.109		11/25/24		132,408
			Series - 2014 C04 (Class 2M2)
	124,136	i	Connecticut Avenue Securities	LIBOR 1 M + 5.550%		5.659		04/25/28		130,944
			Series - 2015 C04 (Class 2M2)
	205,966	i	Connecticut Avenue Securities	LIBOR 1 M + 5.700%		5.809		04/25/28		218,474
			Series - 2015 C04 (Class 1M2)
	242,371	i	Connecticut Avenue Securities	LIBOR 1 M + 6.750%		6.859		08/25/28		256,338
			Series - 2016 C01 (Class 1M2)
	687,929	i	Connecticut Avenue Securities	LIBOR 1 M + 6.950%		7.059		08/25/28		733,445
			Series - 2016 C01 (Class 2M2)
	1,085,311	i	Connecticut Avenue Securities	LIBOR 1 M + 6.000%		6.109		09/25/28		1,143,244
			Series - 2016 C02 (Class 1M2)
	994,001	i	Connecticut Avenue Securities	LIBOR 1 M + 5.900%		6.009		10/25/28		1,051,217
			Series - 2016 C03 (Class 2M2)
	1,949,721	i	Connecticut Avenue Securities	LIBOR 1 M + 4.250%		4.359		01/25/29		2,028,473
			Series - 2016 C04 (Class 1M2)
	1,988,765	i	Connecticut Avenue Securities	LIBOR 1 M + 4.450%		4.559		01/25/29		2,069,212
			Series - 2016 C05 (Class 2M2)
	736,716	i	Connecticut Avenue Securities	LIBOR 1 M + 4.250%		4.359		04/25/29		766,950
			Series - 2016 C06 (Class 1M2)

235

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	89,980	i	Connecticut Avenue Securities	LIBOR 1 M + 0.850%		0.959	%	09/25/29	$	87,852
			Series - 2017 C02 (Class 2ED4)
	267,622	i	Connecticut Avenue Securities	LIBOR 1 M + 2.200%		2.309		01/25/30		267,791
			Series - 2017 C05 (Class 1M2A)
	2,873,991	i	Connecticut Avenue Securities	LIBOR 1 M + 2.200%		2.309		01/25/30		2,901,882
			Series - 2017 C05 (Class 1M2)
	256,112	i	Connecticut Avenue Securities	LIBOR 1 M + 0.850%		0.959		10/25/30		254,433
			Series - 2018 C03 (Class 1EA2)
	596,541	i	Connecticut Avenue Securities	LIBOR 1 M + 2.550%		2.659		12/25/30		597,674
			Series - 2018 C04 (Class 2M2)
	97,219	i	Countrywide Home Loan Mortgage Pass Through Trust			2.770		11/20/34		100,249
			Series - 2004 HYB6 (Class A2)
	14,000,000	g	CPT Mortgage Trust			2.865		11/13/39		14,494,379
			Series - 2019 CPT (Class A)
	2,000,000	g,i	CPT Mortgage Trust			2.997		11/13/39		1,916,142
			Series - 2019 CPT (Class E)
	2,500,000	g,i	CPT Mortgage Trust			2.997		11/13/39		2,544,660
			Series - 2019 CPT (Class C)
	5,000,000	g,i	Credit Suisse Commercial Mortgage Trust			3.728		11/10/32		5,323,411
			Series - 2017 CALI (Class B)
	270,246	g,i	Credit Suisse Commercial Mortgage Trust	LIBOR 1 M + 0.650%		0.759		05/25/36		270,497
			Series - 2006 CF2 (Class M3)
	580,194	g,i	Credit Suisse Commercial Mortgage Trust			3.500		02/25/48		588,968
			Series - 2018 J1 (Class A11)
	3,600,000	g,i	CSAIL Commercial Mortgage Trust			3.677		06/15/37		3,475,301
			Series - 2017 C8 (Class 85BB)
	1,600,000	g,i	CSMC Series			3.388		10/25/59		1,621,138
			Series - 2019 NQM1 (Class M1)
	3,372,485	g,i	CSMC Trust			3.500		02/25/48		3,423,481
			Series - 2018 J1 (Class A2)
	290,000	g,i	DBUBS Mortgage Trust			5.615		07/10/44		286,342
			Series - 2011 LC2A (Class D)
	300,000	g,i	Ellington Financial Mortgage Trust			3.587		06/25/59		300,737
			Series - 2019 1 (Class M1)
	15,250,000		Federal National Mortgage Association (FNMA)			1.561		11/25/30		14,601,003
			Series - 2021 M1G (Class A2)
	220,873	i	Fieldstone Mortgage Investment Trust	LIBOR 1 M + 0.735%		0.844		12/25/35		220,131
			Series - 2005 2 (Class M2)
	1,460,601	g,i	FirstKey Mortgage Trust			3.500		11/25/44		1,486,766
			Series - 2014 1 (Class A8)
	278,161	g,i	Flagstar Mortgage Trust			4.106		10/25/47		288,394
			Series - 2017 2 (Class B3)
	77,686	g,i	Flagstar Mortgage Trust			4.000		09/25/48		78,526
			Series - 2018 5 (Class A11)
	4,205,923		Freddie Mac Multifamily Structured Pass Through Certificates			1.555		01/25/36		3,950,734
			Series - 2020 Q014 (Class A1)
	10,201,749	i	Freddie Mac Multifamily Structured Pass Through Certificates			2.803		10/25/55		2,120,158
			Series - 2020 Q014 (Class X)
	6,143,620		Freddie Mac Multifamily Variable Rate Certificate			1.761		09/15/38		6,084,703
			Series - 2020 M061 (Class A)

236

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	1,140,824	g,i	Freddie Mac Structured Agency Credit Risk Debt Notes			3.726	%	02/25/48	$	1,140,182
			Series - 2018 SPI1 (Class M2)
	1,238,739	g,i	Freddie Mac Structured Agency Credit Risk Debt Notes			3.809		05/25/48		1,237,248
			Series - 2018 SPI2 (Class M2)
	550,198	g,i	Freddie Mac Structured Agency Credit Risk Debt Notes			4.489		11/25/48		549,938
			Series - 2018 SPI4 (Class M2B)
	2,500,000	g,i	GCT Commercial Mortgage Trust	LIBOR 1 M + 1.250%		1.356		02/15/38		2,501,407
			Series - 2021 GCT (Class B)
	1,500,000	g,i	GS Mortgage Securities Trust	LIBOR 1 M + 1.090%		1.196		10/15/31		1,498,642
			Series - 2018 HART (Class A)
	93,000	i	GS Mortgage Securities Trust			3.811		11/10/49		87,666
			Series - 2016 GS4 (Class C)
	156,451	g,i	GS Mortgage-Backed Securities Corp Trust			4.000		11/25/49		157,569
			Series - 2019 PJ2 (Class A1)
	409,344	g,i	GS Mortgage-Backed Securities Corp Trust			4.000		11/25/49		411,615
			Series - 2019 PJ2 (Class A4)
	1,794,016	g,i	GS Mortgage-Backed Securities Corp Trust			3.500		07/25/50		1,811,189
			Series - 2020 PJ2 (Class A4)
	355,614	i	HarborView Mortgage Loan Trust	LIBOR 1 M + 0.620%		0.730		08/19/45		355,959
			Series - 2005 11 (Class 2A1A)
	3,500,000	g	Hudson Yards Mortgage Trust			2.835		08/10/38		3,675,492
			Series - 2016 10HY (Class A)
	2,500,000	g,i	Hudson Yards Mortgage Trust			2.977		08/10/38		2,618,986
			Series - 2016 10HY (Class B)
	5,750,000	g,i	Hudson Yards Mortgage Trust			2.977		08/10/38		5,950,077
			Series - 2016 10HY (Class C)
	2,500,000	g,i	Hudson Yards Mortgage Trust			2.977		08/10/38		2,499,768
			Series - 2016 10HY (Class E)
	14,000,000	g,i	Hudson Yards Mortgage Trust			3.443		07/10/39		14,304,532
			Series - 2019 30HY (Class D)
	1,500,000	g,i	Hudson Yards Mortgage Trust			2.943		12/10/41		1,471,458
			Series - 2019 55HY (Class D)
	5,000,000	g,i	Hudson Yards Mortgage Trust			2.943		12/10/41		4,766,611
			Series - 2019 55HY (Class E)
	2,500,000	g,i	Hudson Yards Mortgage Trust			2.943		12/10/41		2,325,093
			Series - 2019 55HY (Class F)
	16,583	i	Impac CMB Trust	LIBOR 1 M + 0.660%		0.769		03/25/35		16,941
			Series - 2004 11 (Class 2A1)
	1,600,000	g,i	JP Morgan Chase Commercial Mortgage Securities Corp			4.078		01/15/46		1,634,648
			Series - 2013 C13 (Class D)
	438,727	g,i	JP Morgan Mortgage Trust	LIBOR 1 M - 0.000%		2.124		12/25/44		448,616
			Series - 2015 1 (Class B1)
	33,134	g,i	JP Morgan Mortgage Trust			3.500		05/25/45		33,559
			Series - 2015 3 (Class A19)
	472,303	g,i	JP Morgan Mortgage Trust			3.500		10/25/45		477,294
			Series - 2015 6 (Class A13)
	63,599	g,i	JP Morgan Mortgage Trust			3.500		05/25/46		64,466
			Series - 2016 1 (Class A13)
	36,157	g,i	JP Morgan Mortgage Trust			3.500		01/25/47		36,209
			Series - 2017 1 (Class A3)

237

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	192,162	g,i	JP Morgan Mortgage Trust			3.500	%	05/25/47	$	192,562
			Series - 2017 2 (Class A5)
	140,933	g,i	JP Morgan Mortgage Trust			3.500		05/25/47		143,010
			Series - 2017 2 (Class A13)
	447,706	g,i	JP Morgan Mortgage Trust			3.500		09/25/48		446,597
			Series - 2018 3 (Class A13)
	141,615	g,i	JP Morgan Mortgage Trust			3.500		10/25/48		143,616
			Series - 2018 4 (Class A13)
	591,584	g,i	JP Morgan Mortgage Trust			3.500		10/25/48		600,404
			Series - 2018 5 (Class A13)
	563,697	g,i	JP Morgan Mortgage Trust			3.115		10/26/48		576,854
			Series - 2017 5 (Class A2)
	87,895	g,i	JP Morgan Mortgage Trust			4.000		01/25/49		89,869
			Series - 2018 8 (Class A13)
	243,285	g,i	JP Morgan Mortgage Trust			4.000		02/25/49		247,483
			Series - 2018 9 (Class A13)
	283,485	g,i	JP Morgan Mortgage Trust			4.000		05/25/49		288,382
			Series - 2019 1 (Class A3)
	334,800	g,i	JP Morgan Mortgage Trust			4.000		05/25/49		340,236
			Series - 2019 1 (Class A15)
	651,661	g,i	JP Morgan Mortgage Trust			4.757		09/25/49		688,814
			Series - 2019 3 (Class B1)
	1,462,184	g,i	JP Morgan Mortgage Trust	LIBOR 1 M + 0.950%		1.059		10/25/49		1,472,540
			Series - 2019 INV1 (Class A11)
	888,682	g,i	JP Morgan Mortgage Trust			3.889		06/25/50		929,326
			Series - 2020 1 (Class B2)
	2,400,000	i	JPMBB Commercial Mortgage Securities Trust			4.472		09/15/47		2,477,156
			Series - 2014 C23 (Class C)
	97,222		JPMDB Commercial Mortgage Securities Trust			1.537		12/15/49		97,389
			Series - 2016 C4 (Class A1)
	885,489	g	Ladder Capital Commercial Mortgage Securities			3.575		02/15/36		947,756
			Series - 2013 GCP (Class A1)
	10,000,000	g	Liberty Street Trust			3.597		02/10/36		10,853,396
			Series - 2016 225L (Class A)
	4,000,000	g,i	MAD Mortgage Trust			2.976		08/15/34		4,164,325
			Series - 2017 330M (Class A)
	2,350,000	g,i	Manhattan West			2.335		09/10/39		2,291,166
			Series - 2020 1MW (Class D)
	588,711		Morgan Stanley Bank of America Merrill Lynch Trust			3.069		02/15/48		614,251
			Series - 2015 C20 (Class ASB)
	276,662	i	Morgan Stanley Capital I Trust	LIBOR 1 M + 0.825%		0.934		08/25/34		274,080
			Series - 2004 HE6 (Class M1)
	425,000	g,i	Morgan Stanley Capital I Trust	LIBOR 1 M + 0.700%		0.806		11/15/34		425,134
			Series - 2017 CLS (Class A)
	168,837	†,i	Morgan Stanley Capital I Trust			6.099		12/12/49		95,224
			Series - 2007 IQ16 (Class AJFX)
	1,500,000	g,i	MSDB Trust			3.316		07/11/39		1,578,283
			Series - 2017 712F (Class A)
	3,450,000	g,i	Natixis Commercial Mortgage Securities Trust			3.790		11/15/32		3,566,985
			Series - 2018 285M (Class A)
	10,500,000	g,i	Natixis Commercial Mortgage Securities Trust	LIBOR 1 M + 0.784%		0.890		07/15/33		10,433,802
			Series - 2018 850T (Class A)

238

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	9,000,000	g,i	Natixis Commercial Mortgage Securities Trust	LIBOR 1 M + 4.250%		4.356	%	07/15/36	$	8,859,208
			Series - 2019 MILE (Class F)
	109,806	i	New York Mortgage Trust	LIBOR 1 M + 0.480%		0.589		02/25/36		109,991
			Series - 2005 3 (Class A1)
	476,342	g,i	OBX Trust	LIBOR 1 M + 0.650%		0.759		06/25/57		477,294
			Series - 2018 1 (Class A2)
	384,795	g,i	OBX Trust	LIBOR 1 M + 0.750%		0.859		07/25/58		384,889
			Series - 2018 EXP2 (Class 2A1A)
	14,500,000	g	One Bryant Park Trust			2.516		09/15/54		14,636,241
			Series - 2019 OBP (Class A)
	2,750,000	g	One Market Plaza Trust			3.614		02/10/32		2,812,231
			Series - 2017 1MKT (Class A)
	8,216	g	Prima Capital CRE Securitization Ltd			2.550		08/24/49		8,216
			Series - 2015 4A (Class MR-A)
	387,132	g,i	Sequoia Mortgage Trust			3.500		05/25/45		393,918
			Series - 2015 2 (Class A1)
	109,176	g,i	Sequoia Mortgage Trust			3.500		06/25/46		110,678
			Series - 2016 1 (Class A19)
	101,064	g,i	Sequoia Mortgage Trust			3.500		11/25/46		101,740
			Series - 2016 3 (Class A10)
	281,295	g,i	Sequoia Mortgage Trust			3.500		02/25/47		282,267
			Series - 2017 1 (Class A4)
	252,389	g,i	Sequoia Mortgage Trust			3.500		04/25/47		253,043
			Series - 2017 3 (Class A4)
	344,407	g,i	Sequoia Mortgage Trust			3.500		04/25/47		349,049
			Series - 2017 3 (Class A19)
	50,614	g,i	Sequoia Mortgage Trust			3.500		09/25/47		51,444
			Series - 2017 6 (Class A19)
	228,301	g,i	Sequoia Mortgage Trust			3.749		09/25/47		241,851
			Series - 2017 6 (Class B1)
	246,144	g,i	Sequoia Mortgage Trust			3.500		02/25/48		250,856
			Series - 2018 2 (Class A1)
	81,505	g,i	Sequoia Mortgage Trust			3.500		02/25/48		82,752
			Series - 2018 2 (Class A19)
	47,308	g,i	Sequoia Mortgage Trust			3.500		03/25/48		48,209
			Series - 2018 3 (Class A1)
	12,180	g,i	Sequoia Mortgage Trust			3.500		03/25/48		12,180
			Series - 2018 3 (Class A4)
	100,724	g,i	Sequoia Mortgage Trust			4.000		09/25/48		102,279
			Series - 2018 7 (Class A19)
	55,832	g,i	Sequoia Mortgage Trust			4.000		11/25/48		56,436
			Series - 2018 8 (Class A19)
	913,810	g,i	Sequoia Mortgage Trust			4.000		06/25/49		930,603
			Series - 2019 2 (Class A1)
	123,288	g,i	Sequoia Mortgage Trust			4.000		06/25/49		124,876
			Series - 2019 2 (Class A19)
	852,787	g,i	Sequoia Mortgage Trust			3.500		11/25/49		862,624
			Series - 2019 4 (Class A1)
	843,509	g,i	Sequoia Mortgage Trust			3.500		12/25/49		851,619
			Series - 2019 5 (Class A1)
	473,643	g,i	Sequoia Mortgage Trust			3.500		12/25/49		478,197
			Series - 2019 5 (Class A19)
	2,071,669	g,i	Sequoia Mortgage Trust			3.500		03/25/50		2,115,158
			Series - 2020 2 (Class A1)

239

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	1,970,147	g,i	Sequoia Mortgage Trust			3.000	%	04/25/50	$	2,014,859
			Series - 2020 3 (Class A19)
	1,258,945	g,i	Shellpoint Co-Originator Trust			3.500		10/25/47		1,279,594
			Series - 2017 2 (Class A1)
	9,478	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 4.150%		4.259		01/25/25		9,478
			Series - 2015 DN1 (Class M3)
	1,104,261	i	STACR	LIBOR 1 M + 4.650%		4.759		10/25/28		1,155,479
			Series - 2016 DNA2 (Class M3)
	215,617	i	STACR	LIBOR 1 M + 1.350%		1.459		03/25/29		215,964
			Series - 2016 HQA3 (Class M2)
	319,809	i	STACR	LIBOR 1 M + 3.250%		3.359		07/25/29		328,632
			Series - 2017 DNA1 (Class M2)
	18,853	i	STACR	LIBOR 1 M + 1.200%		1.309		10/25/29		18,876
			Series - 2017 DNA2 (Class M1)
	3,500,000	i	STACR	LIBOR 1 M + 2.500%		2.609		03/25/30		3,566,441
			Series - 2017 DNA3 (Class M2)
	309,174	g,i	STACR			4.023		09/25/47		308,817
			Series - 2017 SPI1 (Class M2)
	291,074	g,i	STACR			4.148		08/25/48		290,378
			Series - 2018 SPI3 (Class M2)
	544,954	g,i	STACR			4.489		11/25/48		544,276
			Series - 2018 SPI4 (Class M2)
	2,342,000	g,i	STACR	LIBOR 1 M + 3.100%		3.209		03/25/50		2,368,302
			Series - 2020 HQA2 (Class M2)
	325,000	g	Tricon American Homes			2.049		07/17/38		323,038
			Series - 2020 SFR1 (Class B)
	1,205,024	g	VERUS A3 (Step Bond)			1.733		05/25/65		1,205,436
			Series - 2020 5 (Class A3)
	1,700,000	g,i	Verus Securitization Trust			3.781		05/25/59		1,681,005
			Series - 2019 2 (Class M1)
	1,700,000	g,i	Verus Securitization Trust			3.139		07/25/59		1,702,155
			Series - 2019 3 (Class M1)
	2,925,000	g,i	VNDO Trust			3.337		11/15/30		3,017,386
			Series - 2012 6AVE (Class C)
	2,711,000	g	VNDO Trust			3.805		01/10/35		2,874,314
			Series - 2016 350P (Class A)
	3,000,000	g,i	VNDO Trust			3.903		01/10/35		3,159,914
			Series - 2016 350P (Class B)
	750,000		Wells Fargo Commercial Mortgage Trust			2.514		08/15/49		783,680
			Series - 2016 BNK1 (Class ASB)
	749,984		Wells Fargo Commercial Mortgage Trust			3.185		03/15/59		790,240
			Series - 2016 C33 (Class ASB)
	161,050	g,i	Wells Fargo Mortgage Backed Securities Trust			4.000		04/25/49		163,061
			Series - 2019 2 (Class A17)
	750,000		WFRBS Commercial Mortgage Trust			3.311		03/15/45		777,665
			Series - 2013 C11 (Class AS)
	650,000	i	WFRBS Commercial Mortgage Trust			4.862		12/15/46		662,104
			Series - 2013 C18 (Class C)
	260,324	g,i	WinWater Mortgage Loan Trust			3.854		06/20/44		263,857
			Series - 2014 1 (Class B4)
			TOTAL OTHER MORTGAGE BACKED							335,717,145

240

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	VALUE

			TOTAL STRUCTURED ASSETS	$	583,746,256
			(Cost $576,366,099)

			TOTAL BONDS		6,056,676,738
			(Cost $6,007,691,883)

SHARES			COMPANY

PREFERRED STOCKS - 1.0%

BANKS - 0.2%
	490,000	*,e	First Republic Bank		12,651,800
			TOTAL BANKS		12,651,800

INSURANCE - 0.1%
	155,000		Assurant, Inc		3,986,600
			TOTAL INSURANCE		3,986,600

REAL ESTATE - 0.4%
	400,000		Brookfield Property Partners LP		10,284,000
	695,000		Brookfield Property Partners LP		17,256,850
			TOTAL REAL ESTATE		27,540,850

UTILITIES - 0.3%
	490,000		Brookfield Infrastructure Partners LP		12,534,200
	308,000		Brookfield Renewable Partners LP		8,029,560
			TOTAL UTILITIES		20,563,760

			TOTAL PREFERRED STOCKS		64,743,010
			(Cost $63,450,000)

241

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

SHORT-TERM INVESTMENTS - 15.5%

GOVERNMENT AGENCY DEBT - 10.2%
$	10,000,000	Federal Farm Credit Bank (FFCB)		0.030	%	04/16/21	$	10,000,000
	10,156,000	FFCB		0.090		05/17/21		10,155,870
	25,664,000	FFCB		0.070		12/01/21		25,655,303
	11,750,000	Federal Home Loan Bank (FHLB)		0.005		04/07/21		11,750,000
	24,000,000	FHLB		0.035		04/09/21		24,000,000
	25,000,000	FHLB		0.085		04/13/21		25,000,000
	36,911,000	FHLB		0.039		04/14/21		36,911,000
	73,431,000	FHLB		0.080		04/16/21		73,431,000
	25,000,000	FHLB		0.005		04/19/21		25,000,000
	25,300,000	FHLB		0.035		04/21/21		25,300,000
	20,220,000	FHLB		0.085		04/28/21		20,220,000
	15,150,000	FHLB		0.020		05/03/21		15,149,865
	8,780,000	FHLB		0.005		05/05/21		8,779,917
	10,000,000	FHLB		0.025		05/07/21		9,999,900
	45,743,000	FHLB		0.100		05/12/21		45,742,479
	28,750,000	FHLB		0.010		05/14/21		28,749,657
	38,318,000	FHLB		0.019		05/19/21		38,317,489
	42,650,000	FHLB		0.090		05/21/21		42,649,408
	19,220,000	FHLB		0.035		05/28/21		19,219,696
	17,000,000	FHLB		0.080		06/09/21		16,999,348
	17,306,000	FHLB		0.025		06/11/21		17,305,317
	12,744,000	FHLB		0.100		06/16/21		12,743,462
	13,976,000	FHLB		0.023		06/23/21		13,975,356
	10,208,000	FHLB		0.075		07/07/21		10,207,175
	45,005,000	FHLB		0.054		08/13/21		44,999,974
	16,100,000	FHLB		0.058		08/18/21		16,098,135
	9,000,000	FHLB		0.025		09/15/21		8,998,330
		TOTAL GOVERNMENT AGENCY DEBT						637,358,681

TREASURY DEBT - 4.5%
	30,000,000	United States Cash Management Bill		0.087		06/15/21		29,999,687
	35,000,000	United States Treasury Bill		0.010		04/06/21		34,999,964
	39,030,000	United States Treasury Bill		0.032		04/08/21		39,029,962
	10,000,000	United States Treasury Bill		0.021		04/13/21		9,999,983
	25,000,000	United States Treasury Bill		0.082		04/20/21		24,999,769
	38,975,000	United States Treasury Bill		0.098		04/29/21		38,974,697
	13,475,000	United States Treasury Bill		0.085		05/20/21		13,474,725
	75,850,000	United States Treasury Bill		0.042		05/27/21		75,848,526
	5,000,000	United States Treasury Bill		0.032		06/01/21		4,999,873
	10,000,000	United States Treasury Bill		0.033		06/17/21		9,999,679
		TOTAL TREASURY DEBT						282,326,865

242

TIAA-CREF FUNDS - Core Impact Bond Fund

SHARES			COMPANY	RATE			VALUE

INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 0.8%
	47,966,951	c	State Street Navigator Securities Lending Government Money Market Portfolio		0.030	%	$	47,966,951
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES					47,966,951

			TOTAL SHORT-TERM INVESTMENTS					967,652,497
			(Cost $967,614,289)
			TOTAL INVESTMENTS - 113.3%					7,096,780,815
			(Cost $7,046,424,368)
			OTHER ASSETS & LIABILITIES, NET - (13.3)%					(831,171,229	)
			NET ASSETS - 100.0%				$	6,265,609,586



		Abbreviation(s):
CLP		Chilean Peso
EUR		Euro
LIBOR		London Interbank Offered Rate
M		Month
REIT		Real Estate Investment Trust
SOFR		Secure Overnight Financing Rate

*		Non-income producing
†		Security is categorized as Level 3 in the fair value hierarchy.
‡		Perpetual security
c		Investments made with cash collateral received from securities on loan.
e		All or a portion of these securities are out on loan. The aggregate value of securities on loan is $46,876,535.
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 3/31/2021, the aggregate value of these securities is $1,521,650,146 or 24.3% 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 March 31, 2021 were as follows:

Currency to be purchased	Receive	Currency to be sold	Deliver	Counterparty	Settlement date	Unrealized appreciation (depreciation)
$	9,566,828	EUR	7,850,981	AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED	04/22/21	$	355,782
$	3,003,773	EUR	2,471,223	BANK OF AMERICA, N.A.	05/28/21		102,144
$	13,030,451	CLP	9,350,000,000	CITIBANK N.A.	05/19/21		48,108
Total						$	506,034


		Abbreviation(s):
CLP		Chilean Peso
EUR		Euro

243

TIAA-CREF FUNDS - Core Plus Bond Fund

TIAA-CREF FUNDS

CORE PLUS BOND FUND

SCHEDULE OF INVESTMENTS

March 31, 2021

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

BANK LOAN OBLIGATIONS - 3.2%

AUTOMOBILES & COMPONENTS - 0.1%
$	1,698,702	i	Clarios Global LP	LIBOR 1 M + 3.250%		3.359	%	04/30/26	$	1,679,592
	984,796	i	Gates Global LLC	LIBOR 1 M + 2.750%		3.500		03/31/27		981,517
	100,000	i	Truck Hero, Inc	LIBOR 1 M + 3.750%		4.500		01/31/28		99,681
			TOTAL AUTOMOBILES & COMPONENTS							2,760,790

BANKS - 0.0%
	1,492,327	i	IG Investments Holdings LLC	LIBOR 3 M + 4.000%		5.000		05/21/25		1,490,462
			TOTAL BANKS							1,490,462

CAPITAL GOODS - 0.1%
	2,497,449	h,i	Blount International, Inc	LIBOR 1 M + 3.750%		4.750		04/12/23		2,500,571
	267,369	i	Penn Engineering & Manufacturing Corp	LIBOR 1 M + 2.750%		3.750		06/27/24		266,700
	615,310	i	Proampac PG Borrower LLC	LIBOR 1 and 3 M + 4.000%		5.000		11/03/25		614,443
	320,025	i	Prometric Holdings Inc	LIBOR 1 M + 3.000%		4.000		01/29/25		313,935
	1,465,748	i	TransDigm, Inc	LIBOR 1 M + 2.250%		2.359		12/09/25		1,433,985
			TOTAL CAPITAL GOODS							5,129,634

COMMERCIAL & PROFESSIONAL SERVICES - 0.4%
	2,147,813	i	Allied Universal Holdco LLC	LIBOR 1 M + 4.250%		4.359		07/10/26		2,140,295
	992,500	i	Amentum Government Services Holdings LLC	LIBOR 1 M + 3.500%		3.609		01/29/27		981,751
	1,017,052	i	CHI Doors Holdings Corp	LIBOR 1 M + 3.500%		4.500		07/31/25		1,017,052
	1,925,000	i	Clean Harbors, Inc	LIBOR 1 M + 1.750%		1.859		06/28/24		1,925,000
	971,384	i	Filtration Group Corp	LIBOR 1 M + 3.000%		3.109		03/28/25		956,571
	1,012,575	i	GFL Environmental, Inc	LIBOR 1 M + 3.000%		3.500		05/30/25		1,012,575
	387,500	i	Intermediate Dutch Holdings	LIBOR 3 M + 4.000%		4.500		02/05/28		385,756
	2,500,000	i	Maxar Technologies Ltd	LIBOR 1 M + 2.750%		2.870		10/05/24		2,467,975
	1,022,438	i	PAE Holding Corp	LIBOR 3 M + 4.500%		5.250		10/14/27		1,021,589
	1,462,500	h,i	Peraton Corp	LIBOR 1 M + 3.750%		4.500		02/01/28		1,461,286
	2,264,119	i	Prime Security Services Borrower LLC	LIBOR 1 and 3 M + 2.750%		3.500		09/23/26		2,253,500
	1,925,000	h,i	Spin Holdco, Inc	LIBOR 3 M + 4.000%		4.750		03/01/28		1,907,117
	2,267,161	i	Trans Union LLC	LIBOR 1 M + 1.750%		1.859		11/16/26		2,250,157
	1,106,832	i	WASH Multifamily Laundry Systems LLC	LIBOR 1 M + 3.250%		4.250		05/16/22		1,101,298
	193,839	i	WASH Multifamily Laundry Systems LLC	LIBOR 1 M + 3.250%		4.250		05/16/22		192,870
	2,426,570	i	West Corp	LIBOR 3 M + 4.000%		5.000		10/10/24		2,346,348
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES							23,421,140

CONSUMER DURABLES & APPAREL - 0.0%
	1,496,250	i	Great Outdoors Group LLC	LIBOR 3 M + 4.250%		5.000		03/06/28		1,496,998
	1,000,000	h,i	Hayward Industries, Inc	LIBOR 1 M + 3.500%		3.615		08/04/24		998,130
			TOTAL CONSUMER DURABLES & APPAREL							2,495,128

244

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

CONSUMER SERVICES - 0.3%
$	600,000	i	AlixPartners LLP	LIBOR 1 M + 2.750%		3.250	%	02/04/28	$	597,414
	358,200	i	Caesars Resort Collection LLC	LIBOR 1 M + 4.500%		4.609		07/21/25		358,648
	1,994,357	i	Golden Nugget LLC	LIBOR 2 M + 2.500%		3.250		10/04/23		1,960,952
	2,795,500	h,i	IRB Holding Corp	LIBOR 3 M + 3.250%		4.250		12/15/27		2,782,389
	1,553,842	i	KFC Holding Co	LIBOR 1 M + 1.750%		1.856		03/09/28		1,552,553
	1,719,980	i	KUEHG Corp	LIBOR 3 M + 3.750%		4.750		02/21/25		1,679,371
	1,995,000	i	Life Time, Inc	LIBOR 3 M + 4.750%		5.750		12/15/24		1,990,012
	2,225,422	i	Scientific Games International, Inc	LIBOR 1 M + 2.750%		2.859		08/14/24		2,180,758
	1,496,250	i	Sophia LP	LIBOR 3 M + 3.750%		4.500		10/07/27		1,494,380
	1,467,724	i	Sterling Midco Holdings, Inc	LIBOR 3 M + 3.500%		4.500		06/19/24		1,446,706
			TOTAL CONSUMER SERVICES							16,043,183

DIVERSIFIED FINANCIALS - 0.0%
	372,466	i	Lions Gate Capital Holdings LLC	LIBOR 1 M + 2.250%		2.359		03/24/25		366,257
	374,063	i	Reynolds Group Holdings, Inc	LIBOR 1 M + 3.250%		3.359		02/05/26		369,573
			TOTAL DIVERSIFIED FINANCIALS							735,830

ENERGY - 0.0%
	818,125	i	ChampionX Holding, Inc	LIBOR 3 M + 5.000%		6.000		06/03/27		832,442
	643,500	i	Delek US Holdings, Inc	LIBOR 1 M + 5.500%		6.500		04/01/25		646,447
			TOTAL ENERGY							1,478,889

FOOD, BEVERAGE & TOBACCO - 0.1%
	1,194,000	i	Chobani LLC	LIBOR 1 M + 3.500%		4.500		10/20/27		1,192,209
	595,500	i	Froneri US, Inc	LIBOR 1 M + 2.250%		2.359		01/29/27		586,895
	1,991,696	h,i	Hearthside Food Solutions LLC	LIBOR 1 M + 3.688%		3.796		05/23/25		1,970,544
	2,000,000	h,i	Shearer’s Foods LLC	LIBOR 3 M + 4.000%		4.250		09/23/27		1,994,680
	667,000	h,i	Triton Water Holdings, Inc	LIBOR 3 M + 3.500%		4.000		03/31/28		663,872
			TOTAL FOOD, BEVERAGE & TOBACCO							6,408,200

HEALTH CARE EQUIPMENT & SERVICES - 0.3%
	1,500,000	i	ADMI Corp	LIBOR 1 M + 3.250%		3.750		12/23/27		1,485,420
	1,862,423	i	Change Healthcare Holdings LLC	LIBOR 1 and 3 M + 2.500%		3.500		03/01/24		1,859,462
	446,625	i	Da Vinci Purchaser Corp	LIBOR 3 M + 4.000%		5.000		01/08/27		446,486
	984,576	i	ExamWorks Group Inc	LIBOR 3 M + 3.250%		4.250		07/27/23		983,346
	1,297,357	i	Gentiva Health Services, Inc	LIBOR 1 M + 2.750%		2.875		07/02/25		1,288,172
	1,321,688	i	Global Medical Response, Inc	LIBOR 3 M + 4.750%		5.750		10/02/25		1,316,401
	488,543	i	Greatbatch Ltd	LIBOR 1 M + 2.500%		3.500		10/27/22		488,543
	1,925,000	i	Onex TSG Intermediate Corp	LIBOR 3 M + 4.750%		5.500		02/28/28		1,902,651
	2,597,237	i	RegionalCare Hospital Partners Holdings, Inc	LIBOR 1 M + 3.750%		3.850		11/16/25		2,589,809
	2,000,000	i	Select Medical Corp	LIBOR 1 M + 2.250%		2.360		03/06/25		1,986,060
	2,988,392	i	Surgery Center Holdings, Inc	LIBOR 1 M + 3.250%		4.250		09/03/24		2,956,177
			TOTAL HEALTH CARE EQUIPMENT & SERVICES							17,302,527

HOUSEHOLD & PERSONAL PRODUCTS - 0.1%
	725,000	i	Energizer Holdings, Inc	LIBOR 1 M + 2.250%		2.750		12/16/27		721,071
	997,500	i	Kronos Acquisition Holdings, Inc	LIBOR 3 M + 3.750%		4.250		12/22/26		982,178
	1,446,375	i	Weber-Stephen Products LLC	LIBOR 1 M + 3.250%		4.000		10/29/27		1,444,567
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS							3,147,816

INSURANCE - 0.1%
	216,649	i	Acrisure LLC	LIBOR 3 M + 3.500%		3.703		02/15/27		213,762

245

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	124,183	i	Alliant Holdings Intermediate LLC	LIBOR 1 M + 3.750%		4.250	%	11/05/27	$	123,805
	221,694	i	Asurion LLC	LIBOR 1 M + 3.000%		3.109		11/03/23		220,956
	1,554,591	i	Asurion LLC	LIBOR 1 M + 3.250%		3.359		12/23/26		1,543,771
	425,000	i	Asurion LLC	LIBOR 1 M + 5.250%		5.359		01/31/28		432,438
	987,525	i	HUB International Ltd	LIBOR 3 M + 3.250%		4.000		04/25/25		986,123
	1,974,425	i	USI, Inc	LIBOR 3 M + 3.000%		3.203		05/16/24		1,950,810
			TOTAL INSURANCE							5,471,665

MATERIALS - 0.2%
	737,639	i	Berry Global, Inc	LIBOR 1 M + 1.750%		1.898		07/01/26		731,067
	672,277	i	Flex Acquisition Co, Inc	LIBOR 1 M + 3.500%		4.000		03/02/28		663,141
	147,374	i	H.B. Fuller Co	LIBOR 1 M + 2.000%		2.111		10/21/24		146,674
	775,000	h,i	Kloeckner Pentaplast of America, Inc	LIBOR 3 M + 4.750%		5.250		02/09/26		772,094
	188,922	i	MA FinanceCo LLC	LIBOR 1 M + 2.750%		2.859		06/21/24		186,876
	1,142,142	i	Messer Industries USA, Inc	LIBOR 3 M + 2.500%		2.703		03/01/26		1,132,011
	380,318	i	Plastipak Holdings, Inc	LIBOR 1 M + 2.500%		2.610		10/15/24		378,622
	309,094	i	PQ Corp	LIBOR 3 M + 3.000%		4.000		02/08/27		308,964
	2,195,927	h,i	Quikrete Holdings, Inc	LIBOR 1 M + 2.500%		2.609		02/01/27		2,178,667
	2,970,590	h,i	Solenis International LP	LIBOR 3 M + 4.000%		4.190		06/26/25		2,958,380
	543,876	h,i	Tamko Building Products, Inc	LIBOR 1 M + 3.000%		3.115		05/29/26		540,820
	487,625	i	Tronox Finance LLC	LIBOR 3 M + 2.500%		2.607		03/02/28		484,680
	1,456,162	i	Zekelman Industries, Inc	LIBOR 1 M + 2.000%		2.110		01/25/27		1,436,139
			TOTAL MATERIALS							11,918,135

MEDIA & ENTERTAINMENT - 0.5%
	1,150,000	i	Ahead DB Holdings LLC	LIBOR 3 M + 5.000%		6.000		10/13/27		1,151,438
	2,000,000	i	Altice Financing S.A.	LIBOR 3 M + 2.750%		2.953		02/02/26		1,958,120
	997,500	i	Arches Buyer, Inc	LIBOR 1 M + 3.250%		3.750		12/06/27		989,520
	1,221,938	i	Arterra Wines Canada, Inc	LIBOR 3 M + 3.500%		4.250		11/19/27		1,221,424
	1,293,500	i	Asplundh Tree Expert LLC	LIBOR 1 M + 1.750%		1.859		09/02/27		1,289,257
	298,500	i	Banijay Group US Holding, Inc	LIBOR 1 M + 3.750%		3.854		03/04/25		295,017
	199,500	i	Cablevision Lightpath LLC	LIBOR 1 M + 3.250%		3.750		11/30/27		199,001
	905,677	i	Cirque Du Soleil Holding USA Newco, Inc	LIBOR 3 M + 6.000%		7.000		11/24/25		903,694
	804,279	i	Cirque Du Soleil Holding USA Newco, Inc	LIBOR 3 M + 1.000%		2.000		11/24/27		747,980
	267,000	h,i	City Brewing Co LLC	LIBOR 3 M + 3.500%		4.250		03/31/28		265,665
	725,000	i	CNT Holdings I Corp	LIBOR 3 M + 3.750%		4.500		11/08/27		722,963
	1,500,147	i	CSC Holdings LLC	LIBOR 1 M + 2.250%		2.356		07/17/25		1,477,959
	985,000	i	Diamond Sports Group LLC	LIBOR 1 M + 3.250%		3.360		08/24/26		672,263
	2,500,000	i	INEOS US Petrochem LLC	LIBOR 3 M + 2.750%		3.250		01/29/26		2,490,625
	800,000	i	Journey Personal Care Corp	LIBOR 3 M + 4.250%		5.000		03/01/28		800,336
	450,000	i	Match Group, Inc	LIBOR 3 M + 1.750%		1.948		02/07/27		444,375
	1,075,987	i	Nielsen Finance LLC	LIBOR 1 M + 3.750%		4.750		06/06/25		1,077,838
	78,125	i	OneDigital Borrower LLC	LIBOR 3 M + 4.500%		5.250		10/29/27		78,060
	421,875	i	OneDigital Borrower LLC	LIBOR 3 M + 4.500%		5.250		10/29/27		421,525
	425,000	i	Park River Holdings, Inc	LIBOR 3 M + 3.250%		4.000		12/28/27		422,080
	149,625	i	Pluto Acquisition I, Inc	LIBOR 1 M + 5.000%		5.500		06/22/26		149,625
	493,750	i	Pregis TopCo Corp	LIBOR 1 M + 3.750%		3.859		07/31/26		489,326
	189,000	h,i	Pregis TopCo LLC	LIBOR 1 M + 4.250%		5.000		07/31/26		189,000
	189,000	i	Pregis TopCo LLC	LIBOR 1 M + 4.250%		5.000		07/31/26		189,000
	1,825,000	i	Rackspace Technology Global, Inc	LIBOR 3 M + 2.750%		3.500		02/03/28		1,807,316
	399,000	i	Radiate Holdco LLC	LIBOR 1 M + 3.500%		4.250		09/25/26		398,593
	2,460,817	i	Ryan Specialty Group LLC	LIBOR 1 M + 3.000%		4.000		09/01/27		2,456,707
	275,000	i	SkyMiles IP Ltd	LIBOR 3 M + 3.750%		4.750		10/20/27		288,475
	591,871	i	TricorBraun Holdings, Inc	LIBOR 3 M + 3.250%		3.750		03/03/28		585,703

246

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	133,129	i	TricorBraun Holdings, Inc	LIBOR 3 M + 3.250%		3.750	%	03/03/28	$	131,742
	1,870,944	i	Univision Communications, Inc	LIBOR 1 M + 3.750%		4.750		03/15/26		1,867,764
	374,063	i	US Radiology Specialists, Inc	LIBOR 3 M + 5.500%		6.250		12/10/27		374,414
	845,755	i	Vertical US Newco, Inc	LIBOR 6 M + 4.250%		4.567		07/30/27		847,024
	1,450,000	i	Woof Holdings, Inc	LIBOR 3 M + 3.750%		4.500		12/21/27		1,442,750
	525,000	i	Zaxby’s Operating Co LP	LIBOR 1 M + 3.750%		4.500		12/09/27		524,081
			TOTAL MEDIA & ENTERTAINMENT							29,370,660

PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.2%
	520,765	i	Alphabet Holding Co, Inc	LIBOR 1 M + 3.500%		3.609		09/26/24		516,292
	623,438	i	Avantor, Inc	LIBOR 1 M + 2.250%		3.250		10/29/27		623,126
	2,647,427	h,i	Bausch Health Americas, Inc	LIBOR 1 M + 3.000%		3.109		06/02/25		2,637,393
	1,443,025	i	Endo International PLC	LIBOR 3 M + 4.250%		5.000		04/29/24		1,426,791
	867,844	h,i	Endo Luxembourg Finance Co I Sarl	LIBOR 1 M + 5.000%		5.750		03/10/28		858,081
	1,456,005	i	PAREXEL International Corp	LIBOR 1 M + 2.750%		2.865		09/27/24		1,438,038
	1,934,353	i	PPD, Inc	LIBOR 1 M + 2.250%		2.750		01/13/28		1,922,960
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES							9,422,681

REAL ESTATE - 0.0%
	1,246,147	i	Cushman & Wakefield plc	LIBOR 1 M + 2.750%		2.865		08/21/25		1,219,405
			TOTAL REAL ESTATE							1,219,405

RETAILING - 0.1%
	1,792,735	i	Hillman Group, Inc	LIBOR 1 M + 4.000%		4.147		05/31/25		1,789,652
	448,875	i	LS GROUP OPCO ACQUISITIO	LIBOR 3 M + 3.500%		4.250		11/02/27		448,502
	373,935	i	Men’s Wearhouse LLC	LIBOR 1 M + 8.000%		9.000		12/01/25		284,191
	500,000	i	PetSmart, Inc	LIBOR 3 M + 3.750%		4.500		02/11/28		498,850
	1,600,000	i	Resideo Funding, Inc	LIBOR 3 M + 2.250%		2.750		02/09/28		1,594,000
	806,830	i	Sally Holdings LLC	LIBOR 1 M + 2.250%		2.360		07/05/24		803,804
	1,940,438	i	Staples, Inc	LIBOR 3 M + 5.000%		5.205		04/16/26		1,890,316
			TOTAL RETAILING							7,309,315

SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.0%
	671,780	i	MKS Instruments, Inc	LIBOR 1 M + 1.750%		1.859		02/02/26		670,940
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT							670,940

SOFTWARE & SERVICES - 0.2%
	500,000	i	Avaya Holdings Corp	LIBOR 1 M + 4.250%		4.356		12/15/27		499,920
	994,987	i	BY Crown Parent LLC	LIBOR 1 M + 3.000%		4.000		01/31/26		994,052
	1,805,919	i	Camelot Finance S.A.	LIBOR 1 M + 3.000%		3.109		10/30/26		1,790,677
	1,492,347	i	Hyland Software, Inc	LIBOR 1 M + 3.500%		4.250		07/01/24		1,490,019
	1,994,962	i	Informatica LLC	LIBOR 1 M + 3.250%		3.371		02/14/27		1,978,005
	1,237,775	i	Mitchell International, Inc	LIBOR 1 M + 3.250%		3.359		11/29/24		1,216,807
	119,100	i	Presidio Holdings, Inc	LIBOR 3 M + 3.500%		3.720		01/22/27		118,653
	475,000	h,i	RealPage, Inc	LIBOR 3 M + 3.250%		3.750		02/18/28		472,558
	124,376	i	UKG, Inc	LIBOR 3 M + 3.250%		4.000		05/04/26		124,376
			TOTAL SOFTWARE & SERVICES							8,685,067

TECHNOLOGY HARDWARE & EQUIPMENT - 0.1%
	1,326,738	i	Dell International LLC	LIBOR 1 M + 1.750%		2.000		09/19/25		1,324,960
	225,722	i	MTS Systems Corp	LIBOR 1 M + 3.250%		4.000		07/05/23		225,440
	2,262,808	i	Western Digital Corp	LIBOR 1 M + 1.750%		1.865		04/29/23		2,259,052
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT							3,809,452

247

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

TELECOMMUNICATION SERVICES - 0.1%
$	997,468	i	CommScope, Inc	LIBOR 1 M + 3.250%		3.359	%	04/06/26	$	990,037
	3,000,000	i	SFR Group S.A.	LIBOR 1 M + 3.688%		3.800		01/31/26		2,969,370
	623,553	i	Zayo Group Holdings, Inc	LIBOR 1 M + 3.000%		3.115		03/09/27		618,084
			TOTAL TELECOMMUNICATION SERVICES							4,577,491

TRANSPORTATION - 0.1%
	750,000	h,i	American Airlines, Inc	LIBOR 3 M + 4.750%		5.500		03/24/28		767,580
	1,980,000	i	Genesee & Wyoming, Inc	LIBOR 3 M + 2.000%		2.203		12/30/26		1,971,961
	475,000	i	Mileage Plus Holdings LLC	LIBOR 3 M + 5.250%		6.250		06/18/27		504,170
	1,196,736	i	XPO Logistics, Inc	LIBOR 1 M + 1.750%		1.865		02/24/25		1,188,299
			TOTAL TRANSPORTATION							4,432,010

UTILITIES - 0.2%
	466,520	i	AssuredPartners, Inc	LIBOR 1 M + 3.500%		3.609		02/12/27		460,884
	990,000	i	AssuredPartners, Inc	LIBOR 1 M + 4.500%		5.500		02/12/27		989,752
	1,974,050	i	Gopher Resource LLC	LIBOR 1 M + 3.250%		4.250		03/06/25		1,761,840
	1,462,595	i	ProQuest LLC	LIBOR 1 M + 3.250%		3.359		10/23/26		1,452,357
	1,275,839	i	Seattle SpinCo, Inc	LIBOR 1 M + 2.750%		2.859		06/21/24		1,262,022
	427,500	i	Talen Energy Supply LLC	LIBOR 1 M + 3.750%		3.859		06/26/26		414,675
	2,147,125	h,i	Utz Quality Foods LLC	LIBOR 1 M + 3.000%		3.109		01/20/28		2,142,208
			TOTAL UTILITIES							8,483,738

			TOTAL BANK LOAN OBLIGATIONS							175,784,158
			(Cost $176,151,271)

BONDS - 93.1%

CORPORATE BONDS - 41.9%

AUTOMOBILES & COMPONENTS - 0.8%
	4,500,000	g	Adient Global Holdings Ltd			4.875		08/15/26		4,651,110
	350,000	g	Adient US LLC			9.000		04/15/25		388,500
	1,925,000	g	Allison Transmission, Inc			3.750		01/30/31		1,864,844
	1,625,000	g	Clarios Global LP			6.750		05/15/25		1,738,262
	1,500,000	g	Dana Financing Luxembourg SARL			6.500		06/01/26		1,556,250
	575,000		Dana, Inc			5.375		11/15/27		603,750
	350,000		Dana, Inc			5.625		06/15/28		374,500
	750,000		Ford Motor Co			8.500		04/21/23		836,250
	775,000		Ford Motor Co			9.000		04/22/25		938,614
	1,000,000		Ford Motor Co			7.450		07/16/31		1,260,830
	4,900,000	g	Gates Global LLC			6.250		01/15/26		5,132,750
	3,300,000		General Motors Co			6.125		10/01/25		3,880,498
	2,300,000		General Motors Co			5.000		10/01/28		2,635,819
	1,350,000		General Motors Co			6.600		04/01/36		1,752,212
	3,325,000		General Motors Co			5.200		04/01/45		3,817,796
	750,000		General Motors Co			6.750		04/01/46		1,012,375
	5,000,000		Goodyear Tire & Rubber Co			9.500		05/31/25		5,609,000
	5,000,000		Goodyear Tire & Rubber Co			5.250		04/30/31		5,000,000
	250,000	g,o	IHO Verwaltungs GmbH			4.750		09/15/26		256,797
	1,450,000		Magna International, Inc			3.625		06/15/24		1,567,725
			TOTAL AUTOMOBILES & COMPONENTS							44,877,882

248

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE		VALUE

BANKS - 7.5%
$	2,000,000	g	Akbank T.A.S.	6.800	%	02/06/26	$	1,991,466
	2,000,000	g	Akbank T.A.S.	6.797		04/27/28		1,863,000
	2,450,000	g	Australia & New Zealand Banking Group Ltd	2.950		07/22/30		2,532,099
	4,000,000		Banco Bilbao Vizcaya Argentaria S.A.	6.500		N/A‡		4,326,400
	1,175,000	g	Banco de Credito del Peru	3.250		09/30/31		1,175,000
	2,375,000	g	Banco del Estado de Chile	2.704		01/09/25		2,475,682
	1,725,000	g	Banco Industrial S.A.	4.875		01/29/31		1,777,095
	3,000,000	g	Banco Internacional del Peru SAA Interbank	4.000		07/08/30		3,058,875
	3,750,000	g	Banco Santander Mexico S.A. Institucion de Banca Multiple Grupo Financiero Santand	5.375		04/17/25		4,210,500
	1,000,000		Banco Santander S.A.	2.746		05/28/25		1,044,829
	1,905,000		Banco Santander S.A.	3.800		02/23/28		2,055,739
	1,400,000		Banco Santander S.A.	2.749		12/03/30		1,333,535
	3,200,000		Banco Santander S.A.	7.500		N/A‡		3,516,000
	2,000,000		Bancolombia S.A.	3.000		01/29/25		2,043,000
	2,000,000		Bancolombia S.A.	4.625		12/18/29		2,022,500
	2,000,000	g	Bangkok Bank PCL	5.000		N/A‡		2,102,500
	2,000,000	g	Banistmo S.A.	4.250		07/31/27		2,085,000
	3,000,000	g	Bank Leumi Le-Israel BM	3.275		01/29/31		3,045,000
	11,975,000		Bank of America Corp	2.456		10/22/25		12,552,075
	2,735,000		Bank of America Corp	3.248		10/21/27		2,940,353
	6,675,000		Bank of America Corp	3.824		01/20/28		7,333,235
	14,700,000		Bank of America Corp	2.496		02/13/31		14,564,657
	14,675,000		Bank of America Corp	2.592		04/29/31		14,644,362
	4,000,000		Bank of America Corp	1.922		10/24/31		3,764,263
	2,000,000		Bank of America Corp	4.083		03/20/51		2,220,614
	2,300,000		Bank of America Corp	3.483		03/13/52		2,343,669
	630,000		Bank of America Corp	6.300		N/A‡		724,500
	7,000,000		Bank of America Corp	6.100		N/A‡		7,770,000
	1,275,000		Bank of Montreal	3.803		12/15/32		1,400,539
	1,500,000		Barclays plc	4.338		05/16/24		1,606,172
	3,000,000		Barclays plc	3.932		05/07/25		3,238,086
	6,855,000		Barclays plc	6.125		N/A‡		7,485,660
	3,000,000		Barclays plc	7.750		N/A‡		3,273,600
	3,300,000	g	BNP Paribas S.A.	2.819		11/19/25		3,473,766
	100,000	g	BNP Paribas S.A.	4.375		05/12/26		110,580
	575,000	g	BNP Paribas S.A.	2.219		06/09/26		589,615
	2,175,000	g	BNP Paribas S.A.	1.323		01/13/27		2,127,132
	2,150,000	g	BNP Paribas S.A.	1.904		09/30/28		2,113,257
	6,600,000	g	BNP Paribas S.A.	2.588		08/12/35		6,207,306
	925,000	g	BNP Paribas S.A.	6.625		N/A‡		1,009,563
	1,625,000		Citigroup, Inc	3.875		03/26/25		1,770,799
	5,895,000		Citigroup, Inc	3.200		10/21/26		6,334,639
	2,805,000		Citigroup, Inc	4.300		11/20/26		3,128,902
	695,000		Citigroup, Inc	4.450		09/29/27		784,368
	5,325,000		Citigroup, Inc	4.125		07/25/28		5,892,783
	11,200,000		Citigroup, Inc	2.666		01/29/31		11,252,934
	8,300,000		Citigroup, Inc	4.412		03/31/31		9,472,060
	2,135,000		Citigroup, Inc	2.572		06/03/31		2,133,331
	7,500,000		Citigroup, Inc	6.300		N/A‡		7,967,325
	10,000,000		Citigroup, Inc	5.000		N/A‡		10,303,000
	5,725,000		Cooperatieve Rabobank UA	3.750		07/21/26		6,243,720

249

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE		VALUE

$	1,325,000	g	Credicorp Ltd	2.750	%	06/17/25	$	1,350,175
	3,000,000	g	Credit Agricole S.A.	1.247		01/26/27		2,934,146
	830,000	g	Danske Bank AS	5.375		01/12/24		925,525
	1,525,000	g	DBS Group Holdings Ltd	4.520		12/11/28		1,651,605
	2,450,000		Discover Bank	2.450		09/12/24		2,564,514
	800,000		Discover Bank	4.250		03/13/26		894,189
	1,625,000		Discover Bank	3.450		07/27/26		1,758,531
	1,375,000		Discover Bank	2.700		02/06/30		1,384,321
	6,600,000		Fifth Third Bancorp	4.500		N/A‡		7,009,200
	2,500,000	g	Grupo Aval Ltd	4.375		02/04/30		2,521,875
	1,775,000		HSBC Holdings plc	2.633		11/07/25		1,855,064
	1,850,000		HSBC Holdings plc	1.645		04/18/26		1,851,135
	1,300,000		HSBC Holdings plc	3.900		05/25/26		1,433,432
	5,675,000		HSBC Holdings plc	4.292		09/12/26		6,281,333
	630,000		HSBC Holdings plc	4.375		11/23/26		701,689
	1,250,000		HSBC Holdings plc	4.041		03/13/28		1,368,441
	1,200,000		HSBC Holdings plc	2.013		09/22/28		1,179,189
	1,325,000		HSBC Holdings plc	4.950		03/31/30		1,547,044
	2,200,000		HSBC Holdings plc	3.973		05/22/30		2,380,632
	1,200,000		HSBC Holdings plc	2.357		08/18/31		1,154,852
	4,500,000		HSBC Holdings plc	6.000		N/A‡		4,926,375
	990,000		Huntington Bancshares, Inc	4.000		05/15/25		1,097,088
	5,000,000		Huntington Bancshares, Inc	5.625		N/A‡		5,557,500
	3,000,000	g	ICICI Bank Ltd	4.000		03/18/26		3,233,638
	1,100,000		ING Groep NV	3.950		03/29/27		1,218,923
	3,000,000	g	Intercorp Financial Services, Inc	4.125		10/19/27		3,151,500
	2,680,000	g	Intesa Sanpaolo SpA	7.700		N/A‡		3,041,800
	2,000,000	g	Itau Unibanco Holding S.A.	3.875		04/15/31		1,940,000
	700,000		JPMorgan Chase & Co	2.700		05/18/23		730,269
	660,000		JPMorgan Chase & Co	3.900		07/15/25		728,567
	350,000		JPMorgan Chase & Co	3.200		06/15/26		378,364
	13,880,000		JPMorgan Chase & Co	3.702		05/06/30		15,128,614
	3,825,000		JPMorgan Chase & Co	2.739		10/15/30		3,887,424
	4,570,000		JPMorgan Chase & Co	2.522		04/22/31		4,560,377
	4,575,000		JPMorgan Chase & Co	2.956		05/13/31		4,659,598
	5,550,000		JPMorgan Chase & Co	1.953		02/04/32		5,260,079
	1,250,000		JPMorgan Chase & Co	4.260		02/22/48		1,451,318
	6,400,000		JPMorgan Chase & Co	5.000		N/A‡		6,616,000
	4,000,000		JPMorgan Chase & Co	6.100		N/A‡		4,306,000
	890,000	e	Keycorp	5.000		N/A‡		974,817
	775,000	g	Kookmin Bank	2.500		11/04/30		750,086
	4,000,000		Lloyds Banking Group plc	7.500		N/A‡		4,570,000
	1,800,000		Mitsubishi UFJ Financial Group, Inc	2.193		02/25/25		1,856,699
	3,500,000	g,h	Mizrahi Tefahot Bank Ltd	3.077		04/07/31		3,495,695
	2,650,000		Natwest Group plc	3.032		11/28/35		2,528,312
	5,000,000		Natwest Group plc	8.000		N/A‡		5,862,500
	1,665,000	g	Oversea-Chinese Banking Corp Ltd	1.832		09/10/30		1,649,782
	1,200,000		PNC Bank NA	2.700		10/22/29		1,226,502
	2,500,000		PNC Financial Services Group, Inc	3.900		04/29/24		2,728,098
	4,000,000		Regions Financial Corp	5.750		N/A‡		4,405,000
	1,925,000		Royal Bank of Scotland Group plc	3.073		05/22/28		2,003,035
	2,325,000		Santander Holdings USA, Inc	3.400		01/18/23		2,427,429
	2,500,000	g	Sovcombank Via SovCom Capital DAC	3.400		01/26/25		2,469,343
	3,675,000		Sumitomo Mitsui Financial Group, Inc	2.778		10/18/22		3,800,982

250

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE		VALUE

$	2,250,000		Sumitomo Mitsui Financial Group, Inc	2.696	%	07/16/24	$	2,378,770
	3,300,000		Toronto-Dominion Bank	1.150		06/12/25		3,301,565
	475,000		Toronto-Dominion Bank	3.625		09/15/31		520,590
	575,000		Truist Bank	2.750		05/01/23		602,102
	1,175,000		Truist Bank	1.500		03/10/25		1,193,777
	5,055,000		Truist Financial Corp	4.800		N/A‡		5,300,521
	2,500,000	g	Turkiye Vakiflar Bankasi TAO	6.500		01/08/26		2,394,273
	1,725,000	g	UBS Group AG.	2.095		02/11/32		1,631,705
	3,000,000		UniCredit SpA	8.000		N/A‡		3,345,000
	1,700,000	g	United Overseas Bank Ltd	3.750		04/15/29		1,817,572
	1,355,000		Wells Fargo & Co	4.600		04/01/21		1,355,000
	2,075,000		Wells Fargo & Co	3.750		01/24/24		2,243,834
	1,050,000		Wells Fargo & Co	3.550		09/29/25		1,144,500
	5,825,000		Wells Fargo & Co	2.393		06/02/28		5,970,007
	3,600,000		Wells Fargo & Co	2.879		10/30/30		3,708,402
	1,500,000		Wells Fargo & Co	5.875		N/A‡		1,651,500
	10,000,000		Wells Fargo & Co	3.900		N/A‡		10,099,000
	2,350,000		Westpac Banking Corp	2.850		05/13/26		2,508,110
	1,300,000		Westpac Banking Corp	4.110		07/24/34		1,388,153
			TOTAL BANKS					417,358,072

CAPITAL GOODS - 1.2%
	2,000,000	g	Adaro Indonesia PT	4.250		10/31/24		2,020,000
	1,325,000		Air Lease Corp	3.000		02/01/30		1,296,788
	5,000,000		Air Lease Corp	3.125		12/01/30		4,985,177
	1,690,000	g	Airbus SE	3.150		04/10/27		1,797,200
	1,250,000	g	BAE Systems plc	3.400		04/15/30		1,326,825
	800,000	g	BAE Systems plc	1.900		02/15/31		750,680
	2,825,000	g	Beacon Roofing Supply, Inc	4.500		11/15/26		2,902,687
	2,000,000	g	BOC Aviation Ltd	3.000		09/11/29		1,994,761
	10,500,000		Boeing Co	2.196		02/04/26		10,467,439
	2,350,000		Boeing Co	2.950		02/01/30		2,343,460
	2,300,000		Boeing Co	3.250		02/01/35		2,228,970
	1,325,000	g	DAE Funding LLC	3.375		03/20/28		1,314,072
	2,475,000	g	Embraer Netherlands Finance BV	6.950		01/17/28		2,721,213
	115,000		General Electric Co	6.875		01/10/39		161,731
	3,075,000	g	H&E Equipment Services, Inc	3.875		12/15/28		2,990,438
	775,000		Howmet Aerospace, Inc	6.875		05/01/25		898,031
	3,195,000		Ingersoll-Rand Luxembourg Finance S.A.	3.800		03/21/29		3,505,162
	800,000		L3Harris Technologies, Inc	3.850		06/15/23		853,495
	500,000	g	Land O’ Lakes, Inc	8.000		N/A‡		527,500
	500,000		Lockheed Martin Corp	1.850		06/15/30		486,882
	650,000		Lockheed Martin Corp	2.800		06/15/50		613,046
	375,000	g	Molex Electronic Technologies LLC	3.900		04/15/25		381,913
	1,925,000		Northrop Grumman Corp	3.250		01/15/28		2,065,024
	4,615,000		Parker-Hannifin Corp	3.250		06/14/29		4,932,415
	750,000	g	PowerTeam Services LLC	9.033		12/04/25		826,875
	2,000,000		Raytheon Technologies Corp	2.250		07/01/30		1,968,301
	325,000	g	Rolls-Royce plc	5.750		10/15/27		345,816
	1,300,000		Roper Technologies, Inc	1.400		09/15/27		1,256,005
	1,000,000		Roper Technologies, Inc	2.950		09/15/29		1,041,390
	2,825,000		Roper Technologies, Inc	2.000		06/30/30		2,699,150
	2,800,000	g	TSMC Global Ltd	1.000		09/28/27		2,690,698
	1,400,000	g	Tupy Overseas S.A.	4.500		02/16/31		1,358,014

251

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE		VALUE

$	199,000		United Technologies Corp	3.650	%	08/16/23	$	212,888
	4,450,000		United Technologies Corp	4.125		11/16/28		5,011,294
	1,725,000		United Technologies Corp	4.500		06/01/42		2,057,055
	975,000	g	WESCO Distribution, Inc	7.125		06/15/25		1,066,163
	725,000	g	WESCO Distribution, Inc	7.250		06/15/28		809,386
			TOTAL CAPITAL GOODS					74,907,944

COMMERCIAL & PROFESSIONAL SERVICES - 0.9%
	770,000		ADT Corp	4.125		06/15/23		799,837
	5,000,000	g	ADT Corp	4.875		07/15/32		5,081,250
	1,650,000		AECOM	5.875		10/15/24		1,853,857
	800,000	g	ASGN, Inc	4.625		05/15/28		825,344
	5,000,000		BayCare Health System, Inc	2.560		11/15/21		5,063,424
	3,000,000		BayCare Health System, Inc	2.610		11/15/22		3,102,069
	2,550,518	g	British Airways	3.800		09/20/31		2,657,747
	250,000	g	GFL Environmental, Inc	4.250		06/01/25		257,500
	1,000,000	g	GFL Environmental, Inc	3.750		08/01/25		1,015,000
	250,000	g	GFL Environmental, Inc	5.125		12/15/26		263,437
	3,150,000	g	GFL Environmental, Inc	3.500		09/01/28		3,055,500
	500,000		IHS Markit Ltd	4.125		08/01/23		535,805
	1,830,000		IHS Markit Ltd	4.250		05/01/29		2,061,367
	400,000	g	KAR Auction Services, Inc	5.125		06/01/25		407,220
	125,000	g,h	NESCO Holdings II, Inc	5.500		04/15/29		128,225
	775,000	g	Prime Security Services Borrower LLC	5.250		04/15/24		826,654
	2,750,000	g	Prime Security Services Borrower LLC	5.750		04/15/26		2,975,638
	1,200,000	g	Prime Security Services Borrower LLC	3.375		08/31/27		1,164,000
	2,725,000	g	Prime Security Services Borrower LLC	6.250		01/15/28		2,836,698
	1,550,000		Republic Services, Inc	2.900		07/01/26		1,652,968
	200,000	g	Ritchie Bros Auctioneers, Inc	5.375		01/15/25		205,770
	625,000		RR Donnelley & Sons Co	6.500		11/15/23		662,500
	3,000,000	g	Stericycle, Inc	5.375		07/15/24		3,097,500
	1,150,000	g	Stericycle, Inc	3.875		01/15/29		1,135,625
	1,330,000		Verisk Analytics, Inc	4.125		03/15/29		1,477,966
	325,000		Verisk Analytics, Inc	3.625		05/15/50		319,485
	550,000		Waste Management, Inc	4.100		03/01/45		620,941
	850,000		Waste Management, Inc	2.500		11/15/50		734,139
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES					44,817,466

CONSUMER DURABLES & APPAREL - 0.2%
	325,000	g	Hanesbrands, Inc	4.625		05/15/24		344,794
	400,000		Leggett & Platt, Inc	4.400		03/15/29		446,986
	5,000,000		Lennar Corp	4.750		11/29/27		5,740,600
	275,000	g	Mattel, Inc	3.375		04/01/26		283,921
	369,000		Newell Brands, Inc	4.875		06/01/25		407,284
	5,000,000		PulteGroup, Inc	5.000		01/15/27		5,750,000
			TOTAL CONSUMER DURABLES & APPAREL					12,973,585

CONSUMER SERVICES - 0.8%
	3,000,000	g	1011778 BC ULC / New Red Finance, Inc	5.750		04/15/25		3,187,500
	8,000,000		Anheuser-Busch Cos LLC	3.650		02/01/26		8,795,918
	3,095,000		Anheuser-Busch Cos LLC	4.900		02/01/46		3,697,113
	750,000	g	Arcos Dorados Holdings, Inc	5.875		04/04/27		790,320
	1,300,000	g	Boyd Gaming Corp	8.625		06/01/25		1,445,600
	1,825,000	g	Cedar Fair LP	5.500		05/01/25		1,920,885

252

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	1,200,000	g	Cott Holdings, Inc			5.500	%	04/01/25	$	1,233,360
	2,300,000	g	ENA Master Trust			4.000		05/19/48		2,334,500
	150,000	g	Hilton Domestic Operating Co, Inc			5.375		05/01/25		158,100
	150,000	g	Hilton Domestic Operating Co, Inc			5.750		05/01/28		161,440
	3,700,000	g	Hilton Domestic Operating Co, Inc			3.625		02/15/32		3,591,220
	2,070,000	g	International Game Technology plc			6.500		02/15/25		2,271,825
	400,000	g	International Game Technology plc			4.125		04/15/26		411,032
	4,550,000	g	Live Nation Entertainment, Inc			6.500		05/15/27		5,050,500
	1,550,000	g	Melco Resorts Finance Ltd			5.750		07/21/28		1,650,750
	800,000	g	Melco Resorts Finance Ltd			5.375		12/04/29		849,832
	400,000	g	MGM China Holdings Ltd			5.250		06/18/25		415,500
	1,400,000	g	MGM China Holdings Ltd			4.750		02/01/27		1,419,250
	2,355,000	i	Nature Conservancy	LIBOR 3 M + 1.080%		1.285		02/01/24		2,362,261
	2,745,000		Northwestern University			3.812		12/01/50		2,866,343
	1,400,000		Sands China Ltd			5.400		08/08/28		1,599,416
	325,000	g	Scientific Games International, Inc			5.000		10/15/25		336,603
	475,000	g	Studio City Finance Ltd			5.000		01/15/29		476,758
	450,000	g	Wynn Macau Ltd			5.625		08/26/28		470,385
	100,000	g	Yum! Brands, Inc			7.750		04/01/25		109,375
			TOTAL CONSUMER SERVICES							47,605,786

DIVERSIFIED FINANCIALS - 4.4%
	2,000,000		AerCap Ireland Capital DAC			4.625		07/01/22		2,091,905
	2,150,000		AerCap Ireland Capital DAC			1.750		01/30/26		2,088,218
	900,000		AerCap Ireland Capital DAC			3.650		07/21/27		944,394
	3,000,000		AerCap Ireland Capital DAC			4.625		10/15/27		3,290,858
	3,200,000		American Express Co			2.500		08/01/22		3,286,127
	2,312,000		American Express Co			3.700		08/03/23		2,474,614
	2,000,000	g	Banco BTG Pactual S.A.			4.500		01/10/25		2,043,800
	4,000,000	g	Banco BTG Pactual S.A.			2.750		01/11/26		3,784,000
	1,380,000	g	Banco Mercantil del Norte S.A.			6.750		N/A‡		1,436,511
	6,300,000		Bank of New York Mellon Corp			4.700		N/A‡		6,825,735
	2,850,000	g	BBVA Bancomer S.A.			5.125		01/18/33		2,931,966
	1,200,000		Berkshire Hathaway, Inc			3.125		03/15/26		1,306,404
	1,800,000	g	BPCE S.A.			4.625		07/11/24		1,985,528
	2,825,000		Capital One Bank USA NA			3.375		02/15/23		2,967,353
	1,055,000		Capital One Financial Corp			3.750		03/09/27		1,158,121
	5,000,000		Charles Schwab Corp			4.000		N/A‡		5,074,000
	6,675,000		Charles Schwab Corp			5.375		N/A‡		7,373,672
	600,000	g	Compass Group Diversified Holdings LLC			5.250		04/15/29		629,058
	2,500,000	g	Credit Suisse Group AG.			2.997		12/14/23		2,584,493
	475,000	g	Credit Suisse Group AG.			2.193		06/05/26		482,723
	5,900,000	g	Credit Suisse Group AG.			1.305		02/02/27		5,710,813
	550,000	g	Credit Suisse Group AG.			4.194		04/01/31		598,303
	5,335,000	g	Credit Suisse Group AG.			5.250		N/A‡		5,388,350
	4,075,000		Credit Suisse Group Funding Guernsey Ltd			3.800		06/09/23		4,323,902
	2,325,000		Credit Suisse Group Funding Guernsey Ltd			3.750		03/26/25		2,505,177
	2,750,000		Deutsche Bank AG.			6.000		N/A‡		2,784,375
	8,400,000		Discover Financial Services			6.125		N/A‡		9,324,000
	4,550,000		Equitable Holdings, Inc			4.950		N/A‡		4,811,625
	1,775,000		Ford Motor Credit Co LLC			3.096		05/04/23		1,803,844
	1,140,000		Ford Motor Credit Co LLC			5.584		03/18/24		1,230,391
	1,400,000		Ford Motor Credit Co LLC			4.000		11/13/30		1,388,786
	1,775,000		GE Capital International Funding Co			3.373		11/15/25		1,924,624

253

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	9,725,000		GE Capital International Funding Co			4.418	%	11/15/35	$	11,132,791
	2,000,000		General Motors Financial Co, Inc			2.750		06/20/25		2,087,806
	1,800,000		General Motors Financial Co, Inc			5.650		01/17/29		2,135,266
	3,300,000		General Motors Financial Co, Inc			3.600		06/21/30		3,480,925
	4,550,000		General Motors Financial Co, Inc			5.700		N/A‡		4,914,000
	660,000		Goldman Sachs Group, Inc			5.250		07/27/21		670,180
	1,250,000		Goldman Sachs Group, Inc			4.000		03/03/24		1,362,131
	1,050,000		Goldman Sachs Group, Inc			3.500		01/23/25		1,133,108
	3,500,000		Goldman Sachs Group, Inc			1.093		12/09/26		3,429,621
	3,650,000		Goldman Sachs Group, Inc			1.431		03/09/27		3,617,319
	8,625,000		Goldman Sachs Group, Inc			3.691		06/05/28		9,437,154
	1,300,000		Goldman Sachs Group, Inc			4.017		10/31/38		1,441,583
	1,425,000		Goldman Sachs Group, Inc			4.800		07/08/44		1,750,574
	5,000,000		Goldman Sachs Group, Inc			4.950		N/A‡		5,289,000
	8,050,000		Goldman Sachs Group, Inc			5.500		N/A‡		8,694,000
	2,000,000	g	High Street Funding Trust I			4.111		02/15/28		2,209,526
	925,000		Icahn Enterprises LP			5.250		05/15/27		955,062
	3,850,000	g	Icahn Enterprises LP			4.375		02/01/29		3,762,258
	5,000,000	g	Indian Railway Finance Corp Ltd			2.800		02/10/31		4,742,121
	2,000,000		International Lease Finance Corp			5.875		08/15/22		2,138,684
	1,000,000	g	Jefferies Finance LLC			6.250		06/03/26		1,050,000
	425,000		Legg Mason, Inc			3.950		07/15/24		467,362
	850,000	g	Lions Gate Capital Holdings LLC			5.875		11/01/24		874,973
	3,425,000	g	LPL Holdings, Inc			4.000		03/15/29		3,450,688
	1,400,000	g	Minejesa Capital BV			4.625		08/10/30		1,457,750
	1,000,000	g	Minejesa Capital BV			5.625		08/10/37		1,046,250
	6,550,000		Morgan Stanley			3.125		01/23/23		6,858,172
	3,445,000		Morgan Stanley			2.720		07/22/25		3,634,196
	6,300,000		Morgan Stanley			2.188		04/28/26		6,509,363
	7,925,000		Morgan Stanley			3.125		07/27/26		8,529,519
	2,000,000		Morgan Stanley			3.625		01/20/27		2,194,502
	1,480,000		Morgan Stanley			3.950		04/23/27		1,637,731
	1,850,000		Morgan Stanley			2.699		01/22/31		1,882,428
	1,140,000		Northern Trust Corp			3.950		10/30/25		1,271,680
	2,375,000	g	Power Finance Corp Ltd			3.950		04/23/30		2,425,184
	1,715,000	g	Quicken Loans, Inc			5.250		01/15/28		1,800,750
	2,000,000	g	REC Ltd			4.750		05/19/23		2,120,395
	5,000,000	g,i	Sanders Re Ltd	LIBOR 6 M + 2.930%		2.930		12/06/21		4,985,500
	1,000,000		SLM Corp			5.500		01/25/23		1,037,500
	600,000		Springleaf Finance Corp			6.125		03/15/24		648,000
	1,800,000		Springleaf Finance Corp			8.875		06/01/25		1,994,040
	1,350,000		Springleaf Finance Corp			5.375		11/15/29		1,436,062
	700,000	g	Swiss Re Finance Luxembourg SA			5.000		04/02/49		792,540
	55,000		Synchrony Financial			2.850		07/25/22		56,480
	1,225,000		Synchrony Financial			4.375		03/19/24		1,335,490
	1,775,000		Synchrony Financial			4.250		08/15/24		1,930,858
	1,875,000	g	UBS Group AG			2.859		08/15/23		1,933,004
	5,000,000	g	UBS Group AG			7.000		N/A‡		5,491,950
	350,000		Voya Financial, Inc			5.700		07/15/43		452,649
	925,000	e	Voya Financial, Inc			6.125		N/A‡		992,201
			TOTAL DIVERSIFIED FINANCIALS							241,233,996

ENERGY - 4.2%
	1,450,000	g	Abu Dhabi Crude Oil Pipeline LLC			4.600		11/02/47		1,635,049

254

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE		VALUE

$	400,000		AmeriGas Partners LP	5.875	%	08/20/26	$	440,160
	3,950,000	g	Archrock Partners LP	6.875		04/01/27		4,117,875
	375,000	g	Archrock Partners LP	6.250		04/01/28		380,925
	2,000,000		Calumet Specialty Products Partners LP	7.750		04/15/23		1,985,220
	4,500,000		Cenovus Energy, Inc	5.375		07/15/25		5,057,165
	1,750,000		Cenovus Energy, Inc	4.250		04/15/27		1,892,650
	600,000	g	Chesapeake Energy Corp	5.500		02/01/26		624,537
	3,300,000		Chevron Corp	1.554		05/11/25		3,367,333
	1,475,000		Chevron Corp	2.236		05/11/30		1,467,590
	164,118	†	Cloud Peak Energy, Inc	9.000		10/24/24		105,035
	257,900	†,o	Cloud Peak Energy, Inc	12.000		05/01/25		159,898
	2,500,000	g	ConocoPhillips	2.400		02/15/31		2,466,764
	45,000		ConocoPhillips Co	6.500		02/01/39		64,228
	3,125,000	g	Cosan Ltd	5.500		09/20/29		3,307,812
	2,325,000		Crestwood Midstream Partners LP	5.750		04/01/25		2,337,834
	2,975,000		Diamondback Energy, Inc	2.875		12/01/24		3,137,255
	2,125,000		Diamondback Energy, Inc	3.250		12/01/26		2,239,598
	3,000,000		Diamondback Energy, Inc	3.500		12/01/29		3,113,546
	2,200,000		Diamondback Energy, Inc	3.125		03/24/31		2,196,360
	2,300,000		Ecopetrol S.A.	6.875		04/29/30		2,800,020
	375,000		Ecopetrol S.A.	5.875		05/28/45		400,125
	2,450,000		Enbridge, Inc	3.125		11/15/29		2,547,576
	2,340,000		Enbridge, Inc	5.750		07/15/80		2,503,800
	1,141,000	g	Energean Israel Finance Ltd	4.875		03/30/26		1,147,758
	897,000	g	Energean Israel Finance Ltd	5.375		03/30/28		906,951
	1,375,000		Energy Transfer Operating LP	2.900		05/15/25		1,430,850
	950,000		Energy Transfer Operating LP	4.750		01/15/26		1,054,830
	575,000		Energy Transfer Operating LP	5.500		06/01/27		663,105
	2,000,000		Energy Transfer Operating LP	4.950		06/15/28		2,238,119
	575,000		Energy Transfer Operating LP	5.250		04/15/29		654,515
	3,075,000		Energy Transfer Operating LP	3.750		05/15/30		3,170,226
	2,100,000		Energy Transfer Operating LP	6.250		04/15/49		2,464,995
	2,700,000		Energy Transfer Operating LP	5.000		05/15/50		2,792,460
	525,000	g	EnLink Midstream LLC	5.625		01/15/28		507,664
	1,025,000		Enterprise Products Operating LLC	3.700		02/15/26		1,124,698
	1,550,000		Enterprise Products Operating LLC	3.125		07/31/29		1,634,571
	200,000		Enterprise Products Operating LLC	2.800		01/31/30		206,494
	1,025,000		Enterprise Products Operating LLC	4.250		02/15/48		1,088,732
	1,105,000		Enterprise Products Operating LLC	4.200		01/31/50		1,176,454
	3,125,000		Enterprise Products Operating LLC	3.700		01/31/51		3,076,564
	1,225,000	g	EQM Midstream Partners LP	6.000		07/01/25		1,318,406
	2,000,000	g	EQM Midstream Partners LP	4.500		01/15/29		1,948,920
	2,025,000	g	Ferrellgas Escrow LLC	5.375		04/01/26		2,011,432
	2,225,000	g	Ferrellgas Escrow LLC	5.875		04/01/29		2,194,962
	3,333,000	g	Galaxy Pipeline Assets Bidco Ltd	2.160		03/31/34		3,225,747
	2,750,000	g	Galaxy Pipeline Assets Bidco Ltd	2.625		03/31/36		2,621,862
	675,000		Genesis Energy LP	6.500		10/01/25		661,669
	3,750,000		Genesis Energy LP	6.250		05/15/26		3,581,250
	450,000	g	Hilcorp Energy I LP	5.750		02/01/29		453,937
	450,000	g	Hilcorp Energy I LP	6.000		02/01/31		456,750
	2,500,000	g	Indika Energy Capital IV Pte Ltd	8.250		10/22/25		2,632,500
	1,700,000	g	KazMunayGas National Co JSC	5.375		04/24/30		2,013,161
	2,000,000	g	KazMunayGas National Co JSC	3.500		04/14/33		2,114,699
	940,000		Kinder Morgan Energy Partners LP	5.400		09/01/44		1,101,633

255

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE		VALUE

$	1,000,000		Kinder Morgan, Inc	3.450	%	02/15/23	$	1,046,962
	400,000		Kinder Morgan, Inc	5.300		12/01/34		472,398
	2,025,000	g	Leviathan Bond Ltd	6.125		06/30/25		2,196,716
	1,500,000	g	Leviathan Bond Ltd	6.500		06/30/27		1,641,526
	4,650,000		Magellan Midstream Partners LP	3.250		06/01/30		4,868,104
	2,200,000		Marathon Petroleum Corp	3.800		04/01/28		2,377,530
	4,150,000		Marathon Petroleum Corp	4.750		09/15/44		4,602,945
	1,650,000		Marathon Petroleum Corp	5.000		09/15/54		1,746,355
	2,000,000	g	Medco Oak Tree Pte Ltd	7.375		05/14/26		2,130,000
	2,625,000		MPLX LP	1.750		03/01/26		2,629,009
	4,200,000		MPLX LP	2.650		08/15/30		4,115,815
	1,550,000		MPLX LP	4.700		04/15/48		1,676,944
	2,000,000		Murphy Oil Corp	6.875		08/15/24		2,045,000
	1,617,000		Murphy Oil Corp	5.875		12/01/27		1,584,660
	450,000		Murphy Oil USA, Inc	5.625		05/01/27		470,250
	1,400,000		NuStar Logistics LP	5.750		10/01/25		1,498,728
	325,000		Occidental Petroleum Corp	5.500		12/01/25		343,688
	800,000		Occidental Petroleum Corp	5.550		03/15/26		846,080
	2,375,000		Occidental Petroleum Corp	3.500		08/15/29		2,228,463
	1,200,000		Occidental Petroleum Corp	4.300		08/15/39		1,017,612
	475,000		Occidental Petroleum Corp	4.100		02/15/47		380,603
	950,000	g	Oleoducto Central S.A.	4.000		07/14/27		1,003,685
	1,100,000		ONEOK, Inc	4.000		07/13/27		1,192,843
	4,150,000		ONEOK, Inc	4.550		07/15/28		4,566,625
	3,050,000		ONEOK, Inc	4.350		03/15/29		3,326,929
	3,115,000		ONEOK, Inc	3.400		09/01/29		3,205,099
	600,000		ONEOK, Inc	4.450		09/01/49		598,437
	1,650,000		ONEOK, Inc	4.500		03/15/50		1,651,526
	2,000,000	g,h	Parkland Corp	4.500		10/01/29		2,002,500
	5,000,000	g	Pertamina Persero PT	1.400		02/09/26		4,862,195
	850,000	g	Pertamina Persero PT	3.650		07/30/29		887,795
	3,000,000	g	Pertamina Persero PT	2.300		02/09/31		2,775,567
	1,200,000	g	Peru LNG Srl	5.375		03/22/30		1,075,512
	800,000		Petrobras Global Finance BV	5.093		01/15/30		831,120
	1,500,000		Petrobras Global Finance BV	5.600		01/03/31		1,580,700
	2,000,000		Petrobras Global Finance BV	6.900		03/19/49		2,190,000
	5,000,000		Petroleos Mexicanos	4.500		01/23/26		4,964,000
	2,800,000		Petroleos Mexicanos	6.500		03/13/27		2,926,000
	1,250,000		Petroleos Mexicanos	5.350		02/12/28		1,215,500
	1,992,000		Petroleos Mexicanos	7.000		01/23/30		2,021,681
	2,700,000		Petroleos Mexicanos	5.950		01/28/31		2,592,000
	1,475,000	e,g	Petronas Energy Canada Ltd	2.112		03/23/28		1,455,998
	625,000		Phillips 66 Partners LP	3.150		12/15/29		633,974
	1,025,000		Phillips 66 Partners LP	4.680		02/15/45		1,064,317
	925,000	g	PTTEP Treasury Center Co Ltd	2.587		06/10/27		950,383
	475,000		Regency Energy Partners LP	4.500		11/01/23		511,297
	705,000		Sabine Pass Liquefaction LLC	5.875		06/30/26		825,885
	3,950,000		Sabine Pass Liquefaction LLC	4.200		03/15/28		4,333,461
	5,800,000		Sabine Pass Liquefaction LLC	4.500		05/15/30		6,508,690
	2,675,000	g	Saudi Arabian Oil Co	2.250		11/24/30		2,561,706
	1,300,000		Shell International Finance BV	2.875		05/10/26		1,386,738
	1,350,000		Shell International Finance BV	3.125		11/07/49		1,302,189
	2,000,000		Suburban Propane Partners LP	5.500		06/01/24		2,030,700
	705,000		Suncor Energy, Inc	6.800		05/15/38		965,853

256

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE		VALUE

$	1,400,000		Sunoco Logistics Partners Operations LP	4.000	%	10/01/27	$	1,505,618
	600,000		Sunoco Logistics Partners Operations LP	5.400		10/01/47		647,875
	1,150,000	g	Sunoco LP	4.500		05/15/29		1,145,688
	550,000	g	Superior Plus LP	4.500		03/15/29		555,610
	525,000		Targa Resources Partners LP	6.500		07/15/27		570,507
	1,000,000	g	Targa Resources Partners LP	4.000		01/15/32		940,520
	2,000,000	g	Thaioil Treasury Center Co Ltd	2.500		06/18/30		1,906,920
	3,300,000		Total Capital International S.A.	3.127		05/29/50		3,106,696
	5,200,000		TransCanada PipeLines Ltd	4.250		05/15/28		5,845,044
	1,600,000		USA Compression Partners LP	6.875		04/01/26		1,641,000
	1,075,000		USA Compression Partners LP	6.875		09/01/27		1,107,250
	5,000,000		Williams Cos, Inc	2.600		03/15/31		4,887,135
	2,100,000	g	YPF S.A.	6.950		07/21/27		1,273,125
			TOTAL ENERGY					235,077,550

FOOD & STAPLES RETAILING - 0.5%
	1,400,000	g	Central American Bottling Corp	5.750		01/31/27		1,479,275
	2,350,000		Costco Wholesale Corp	1.600		04/20/30		2,250,629
	750,000		Costco Wholesale Corp	1.750		04/20/32		712,899
	1,012,000		Ingles Markets, Inc	5.750		06/15/23		1,019,590
	1,150,000		Kroger Co	3.700		08/01/27		1,279,801
	1,800,000		Kroger Co	3.875		10/15/46		1,880,173
	325,000		Kroger Co	4.450		02/01/47		366,412
	2,500,000	g	MARB BondCo plc	3.950		01/29/31		2,376,875
	675,000		SYSCO Corp	3.300		07/15/26		726,816
	5,700,000		Walmart, Inc	3.700		06/26/28		6,410,724
	6,425,000		Walmart, Inc	2.375		09/24/29		6,574,327
	1,550,000		Walmart, Inc	3.950		06/28/38		1,791,750
			TOTAL FOOD & STAPLES RETAILING					26,869,271

FOOD, BEVERAGE & TOBACCO - 1.6%
	318,000		Altria Group, Inc	4.800		02/14/29		365,385
	1,000,000		Altria Group, Inc	3.400		05/06/30		1,046,237
	1,400,000		Altria Group, Inc	5.950		02/14/49		1,743,129
	3,000,000	g	Amaggi Luxembourg International Sarl	5.250		01/28/28		3,075,000
	5,580,000		Anheuser-Busch InBev Worldwide, Inc	4.750		01/23/29		6,520,499
	2,160,000		Anheuser-Busch InBev Worldwide, Inc	4.439		10/06/48		2,426,030
	1,850,000		BAT Capital Corp	2.259		03/25/28		1,821,420
	4,900,000		BAT Capital Corp	4.906		04/02/30		5,594,770
	7,450,000		BAT Capital Corp	2.726		03/25/31		7,205,088
	1,650,000		BAT Capital Corp	4.540		08/15/47		1,661,365
	4,100,000		BAT Capital Corp	3.984		09/25/50		3,842,390
	1,975,000	g	BRF S.A.	4.875		01/24/30		2,014,500
	3,000,000	e,g	BRF S.A.	5.750		09/21/50		2,957,550
	450,000		Constellation Brands, Inc	4.400		11/15/25		507,195
	450,000		Constellation Brands, Inc	3.700		12/06/26		494,236
	325,000		Constellation Brands, Inc	3.600		02/15/28		353,442
	1,625,000		Constellation Brands, Inc	3.150		08/01/29		1,702,068
	350,000		Constellation Brands, Inc	2.875		05/01/30		357,621
	1,800,000	g	Corp Lindley S.A.	4.625		04/12/23		1,856,268
	1,650,000		Diageo Capital plc	2.125		10/24/24		1,721,966
	2,425,000		Diageo Capital plc	2.375		10/24/29		2,441,423
	1,150,000		Diageo Capital plc	2.000		04/29/30		1,124,404
	1,675,000	g	Embotelladora Andina S.A.	3.950		01/21/50		1,769,219

257

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE		VALUE

$	925,000		General Mills, Inc	2.875	%	04/15/30	$	954,931
	2,000,000	g	Grupo Bimbo SAB de C.V.	4.700		11/10/47		2,216,335
	1,800,000	g	Grupo Bimbo SAB de C.V.	5.950		N/A‡		1,903,500
	1,450,000	g	Kernel Holding S.A.	6.500		10/17/24		1,534,731
	2,500,000	g	Kernel Holding S.A.	6.750		10/27/27		2,652,535
	6,150,000		Kraft Heinz Foods Co	3.875		05/15/27		6,697,937
	875,000		Kraft Heinz Foods Co	4.250		03/01/31		963,319
	975,000	g	Lamb Weston Holdings, Inc	4.875		11/01/26		1,008,394
	2,000,000	g	NBM US Holdings, Inc	6.625		08/06/29		2,199,610
	775,000		PepsiCo, Inc	3.450		10/06/46		819,462
	100,000		Philip Morris International, Inc	6.375		05/16/38		138,110
	3,100,000	g	Post Holdings, Inc	4.625		04/15/30		3,107,750
	2,250,000	g	Sigma Alimentos S.A. de C.V.	4.125		05/02/26		2,434,500
	550,000	g	Triton Water Holdings, Inc	6.250		04/01/29		561,000
	5,325,000	g	Ulker Biskuvi Sanayi AS.	6.950		10/30/25		5,584,039
			TOTAL FOOD, BEVERAGE & TOBACCO					85,377,358

HEALTH CARE EQUIPMENT & SERVICES - 2.0%
	450,000		Abbott Laboratories	5.300		05/27/40		595,611
	2,750,000		Anthem, Inc	2.250		05/15/30		2,706,458
	1,475,000		Anthem, Inc	3.600		03/15/51		1,526,781
	2,200,000		Becton Dickinson & Co	2.823		05/20/30		2,255,351
	1,200,000		Boston Scientific Corp	4.000		03/01/29		1,334,816
	800,000	g	Centene Corp	5.375		08/15/26		843,920
	1,150,000		Centene Corp	4.625		12/15/29		1,244,651
	1,000,000		Centene Corp	3.375		02/15/30		1,009,370
	6,410,000		Centene Corp	3.000		10/15/30		6,399,359
	755,000	g	Centene Escrow I Corp	5.375		06/01/26		789,504
	2,750,000	g	CHS/Community Health Systems, Inc	8.000		03/15/26		2,973,575
	1,600,000		Cigna Corp	2.400		03/15/30		1,586,446
	1,525,000		Cigna Corp	3.200		03/15/40		1,524,964
	3,650,000		CVS Health Corp	3.625		04/01/27		4,006,132
	7,450,000		CVS Health Corp	1.750		08/21/30		6,953,827
	5,175,000		CVS Health Corp	4.780		03/25/38		6,107,461
	1,400,000		CVS Health Corp	2.700		08/21/40		1,289,291
	4,925,000		CVS Health Corp	5.050		03/25/48		6,046,126
	3,100,000	g	DaVita, Inc	4.625		06/01/30		3,158,466
	3,950,000	g	DaVita, Inc	3.750		02/15/31		3,767,234
	5,400,000		Encompass Health Corp	4.500		02/01/28		5,530,248
	9,000,000		HCA, Inc	3.500		09/01/30		9,076,228
	1,320,000		HCA, Inc	5.500		06/15/47		1,641,808
	3,500,000	g	Hologic, Inc	3.250		02/15/29		3,456,250
	1,800,000		Humana, Inc	3.950		03/15/27		2,007,250
	990,000	g	LifePoint Health, Inc	4.375		02/15/27		970,200
	1,250,000	g	Molina Healthcare, Inc	4.375		06/15/28		1,286,200
	3,700,000	e,g	MPH Acquisition Holdings LLC	5.750		11/01/28		3,607,500
	3,375,000		MPT Operating Partnership LP	3.500		03/15/31		3,311,955
	1,510,000	g	SBA Tower Trust	3.168		04/11/22		1,512,693
	5,800,000	g	SBA Tower Trust	2.836		01/15/25		6,084,039
	2,080,000	g	SBA Tower Trust	1.884		01/15/26		2,105,044
	820,000	g	SBA Tower Trust	2.328		01/15/28		833,265
	350,000	g	Teleflex, Inc	4.250		06/01/28		362,688
	6,200,000		Tenet Healthcare Corp	4.625		07/15/24		6,328,278
	375,000	g	Tenet Healthcare Corp	4.625		06/15/28		384,368

258

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	3,400,000	g	Tenet Healthcare Corp			6.125	%	10/01/28	$	3,548,750
	2,650,000		UnitedHealth Group, Inc			2.950		10/15/27		2,844,537
	70,000		UnitedHealth Group, Inc			4.750		07/15/45		88,210
	1,400,000		UnitedHealth Group, Inc			3.750		10/15/47		1,530,125
	550,000		Zimmer Biomet Holdings, Inc			3.700		03/19/23		581,714
	1,290,000		Zimmer Biomet Holdings, Inc			3.550		04/01/25		1,397,673
			TOTAL HEALTH CARE EQUIPMENT & SERVICES							114,608,366

INSURANCE - 1.1%
	1,550,000	g	Acrisure LLC			4.250		02/15/29		1,524,347
	150,000		Aetna, Inc			6.625		06/15/36		209,355
	53,000		Aflac, Inc			6.450		08/15/40		71,104
	825,000	g	Alliant Holdings Intermediate LLC			4.250		10/15/27		826,031
	550,000		American Financial Group, Inc			3.500		08/15/26		596,102
	1,250,000		Aon Corp			2.800		05/15/30		1,277,363
	3,275,000		Aon plc			3.500		06/14/24		3,518,658
	675,000		Berkshire Hathaway Finance Corp			1.850		03/12/30		658,557
	400,000		Berkshire Hathaway Finance Corp			4.250		01/15/49		463,071
	5,800,000		Berkshire Hathaway Finance Corp			2.850		10/15/50		5,345,814
	700,000		CNA Financial Corp			3.950		05/15/24		760,425
	1,725,000		CNA Financial Corp			2.050		08/15/30		1,639,653
	550,000	g	Equitable Financial Life Global Funding			1.400		07/07/25		549,709
	1,500,000	g,i	First Coast Re III Pte Ltd	U.S. Treasury Bill 3 M + 6.000%		6.015		04/07/25		1,499,400
	2,200,000	g	Five Corners Funding Trust II			2.850		05/15/30		2,267,336
	7,425,000		Hartford Financial Services Group, Inc			2.800		08/19/29		7,702,268
	250,000		Hartford Financial Services Group, Inc			4.300		04/15/43		281,131
	1,521,000	g	Liberty Mutual Group, Inc			4.569		02/01/29		1,763,568
	1,750,000	g	Liberty Mutual Group, Inc			3.951		10/15/50		1,805,202
	475,000		Marsh & McLennan Cos, Inc			3.500		06/03/24		511,597
	375,000		Marsh & McLennan Cos, Inc			3.500		03/10/25		406,996
	875,000		MetLife, Inc			3.600		11/13/25		961,769
	5,920,000		MetLife, Inc			3.850		N/A‡		6,112,400
	900,000	g	Metropolitan Life Global Funding I			2.950		04/09/30		937,798
	500,000		Principal Financial Group, Inc			2.125		06/15/30		480,822
	500,000		Prudential Financial, Inc			3.905		12/07/47		540,969
	2,610,000		Prudential Financial, Inc			3.700		10/01/50		2,639,232
	300,000	g	Prudential Funding LLC			6.750		09/15/23		341,431
	1,050,000		Reinsurance Group of America, Inc			3.900		05/15/29		1,150,913
	2,250,000	g,i	Residential Reinsurance 2017 Ltd	U.S. Treasury Bill 3 M + 3.270%		3.285		06/06/21		2,240,550
	5,917,000	g,i	Sutter Re Ltd	U.S. Treasury Bill 3 M + 5.000%		5.000		06/06/22		6,072,025
	2,200,000	g,i	Vitality Re X Ltd	U.S. Treasury Bill 3 M + 1.750%		1.765		01/10/23		2,189,000
	2,000,000	g,i	Vitality Re XII Ltd	U.S. Treasury Bill 3 M + 2.250%		2.265		01/07/25		1,992,000
	850,000		Willis North America, Inc			3.600		05/15/24		916,011
			TOTAL INSURANCE							60,252,607

MATERIALS - 2.3%
	1,400,000		Agrium, Inc			3.375		03/15/25		1,465,562
	200,000	g	Alcoa Nederland Holding BV			6.750		09/30/24		206,700
	400,000	g	Alpek SAB de C.V.			4.250		09/18/29		423,204

259

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE		VALUE

$	1,325,000	g	Alpek SAB de C.V.	3.250	%	02/25/31	$	1,310,425
	1,350,000	g	Anglo American Capital plc	2.625		09/10/30		1,321,178
	3,050,000		AngloGold Ashanti Holdings plc	3.750		10/01/30		3,083,677
	1,950,000	g	Arconic Corp	6.000		05/15/25		2,101,681
	1,225,000	g	Ardagh Metal Packaging Finance USA LLC	3.250		09/01/28		1,210,753
	900,000	g	Ardagh Metal Packaging Finance USA LLC	4.000		09/01/29		898,533
	900,000	g	Axalta Coating Systems LLC	3.375		02/15/29		877,680
	2,425,000		Ball Corp	2.875		08/15/30		2,335,881
	270,000		Bemis Co, Inc	3.100		09/15/26		287,790
	325,000		Bemis Co, Inc	2.630		06/19/30		324,160
	5,375,000	g	Berry Global, Inc	1.570		01/15/26		5,290,183
	3,000,000	g	Berry Global, Inc	5.625		07/15/27		3,168,750
	2,500,000	g	Celulosa Arauco y Constitucion S.A.	4.250		04/30/29		2,727,000
	1,375,000	g	Cemex SAB de C.V.	7.375		06/05/27		1,556,733
	2,500,000	g	Cemex SAB de C.V.	5.450		11/19/29		2,738,750
	2,425,000	g	Cemex SAB de C.V.	3.875		07/11/31		2,366,800
	1,439,000	g	Cleveland-Cliffs, Inc	9.875		10/17/25		1,685,860
	725,000	g	Constellium SE	3.750		04/15/29		693,158
	2,300,000	g	Corp Nacional del Cobre de Chile	3.625		08/01/27		2,485,103
	2,000,000	g	Corp Nacional del Cobre de Chile	3.150		01/14/30		2,073,724
	1,800,000	g	Corp Nacional del Cobre de Chile-CODELCO	3.700		01/30/50		1,803,681
	5,805,000		DowDuPont, Inc	4.493		11/15/25		6,560,541
	2,310,000		DowDuPont, Inc	4.725		11/15/28		2,684,902
	500,000	g	Element Solutions, Inc	3.875		09/01/28		493,375
	950,000	g	Enviva Partners LP	6.500		01/15/26		995,125
	3,500,000	g	First Quantum Minerals Ltd	6.875		10/15/27		3,753,750
	5,000,000		Freeport-McMoRan, Inc	5.450		03/15/43		6,015,000
	1,200,000	g	Fresnillo plc	4.250		10/02/50		1,179,000
	1,250,000	g	Gold Fields Orogen Holdings BVI Ltd	6.125		05/15/29		1,462,500
	225,000	g	Hudbay Minerals, Inc	4.500		04/01/26		233,845
	775,000	g	Hudbay Minerals, Inc	6.125		04/01/29		827,313
	600,000	g	Industrias Penoles SAB de C.V.	4.150		09/12/29		652,182
	750,000		International Paper Co	5.000		09/15/35		905,435
	50,000		International Paper Co	8.700		06/15/38		78,382
	1,500,000		International Paper Co	5.150		05/15/46		1,899,956
	450,000		International Paper Co	4.350		08/15/48		520,104
	2,875,000	g	Inversiones CMPC S.A.	4.375		04/04/27		3,161,666
	1,700,000	g	Klabin Austria GmbH	5.750		04/03/29		1,903,150
	1,300,000	g	Klabin Finance S.A.	4.875		09/19/27		1,420,367
	1,750,000	g	MEGlobal Canada ULC	5.000		05/18/25		1,944,670
	900,000	g	Metinvest BV	7.650		10/01/27		964,032
	1,400,000	g	Midwest Connector Capital Co LLC	3.900		04/01/24		1,445,074
	1,400,000	g	Midwest Connector Capital Co LLC	4.625		04/01/29		1,419,649
	467,000		Mosaic Co	4.875		11/15/41		515,403
	1,200,000		Newmont Corp	2.250		10/01/30		1,168,964
	6,000,000	g	Nova Chemicals Corp	4.875		06/01/24		6,270,000
	1,125,000		Nutrien Ltd	3.375		03/15/25		1,209,443
	2,500,000		Nutrien Ltd	2.950		05/13/30		2,587,076
	2,000,000	g	OCI NV	5.250		11/01/24		2,080,000
	2,375,000	g	OCI NV	4.625		10/15/25		2,455,156
	2,400,000	g	Owens-Brockway Glass Container, Inc	5.875		08/15/23		2,571,000
	2,900,000	g	PolyOne Corp	5.750		05/15/25		3,081,250
	2,425,000		Praxair, Inc	1.100		08/10/30		2,205,133
	2,450,000	g	SABIC Capital II BV	4.500		10/10/28		2,801,830

260

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE		VALUE

$	1,475,000		Sasol Financing USA LLC	5.875	%	03/27/24	$	1,564,385
	2,575,000		Sasol Financing USA LLC	4.375		09/18/26		2,626,886
	2,450,000		Sherwin-Williams Co	2.300		05/15/30		2,412,937
	2,200,000	g	Standard Industries, Inc	5.000		02/15/27		2,293,500
	1,500,000		Suzano Austria GmbH	3.750		01/15/31		1,543,155
	1,325,000	e,g	Suzano Austria GmbH	7.000		03/16/47		1,705,924
	500,000	g	Tronox Finance plc	5.750		10/01/25		521,565
	1,150,000	g	Tronox, Inc	4.625		03/15/29		1,151,438
	2,675,000	g	UltraTech Cement Ltd	2.800		02/16/31		2,512,387
	400,000	g	Univar Solutions USA, Inc	5.125		12/01/27		416,248
	1,125,000	g	Volcan Cia Minera SAA	4.375		02/11/26		1,153,046
	3,100,000		WRKCo, Inc	4.900		03/15/29		3,619,513
			TOTAL MATERIALS					131,423,223

MEDIA & ENTERTAINMENT - 2.7%
	875,000		Activision Blizzard, Inc	3.400		09/15/26		956,432
	1,100,000		Activision Blizzard, Inc	1.350		09/15/30		993,727
	2,500,000	g	Arches Buyer, Inc	4.250		06/01/28		2,495,500
	650,000	g	B2W Digital Lux Sarl	4.375		12/20/30		634,725
	1,650,000	g	Banco Nacional de Panama	2.500		08/11/30		1,531,200
	1,175,000	g	Cable Onda S.A.	4.500		01/30/30		1,247,815
	3,500,000	g,i	Cape Lookout Re Ltd	4.165		02/25/22		3,516,100
	500,000	e,g	CBS Radio, Inc	7.250		11/01/24		517,500
	6,000,000	g	CCO Holdings LLC	5.125		05/01/27		6,343,890
	1,800,000	g	CCO Holdings LLC	4.500		08/15/30		1,834,560
	3,227,000		Charter Communications Operating LLC	4.464		07/23/22		3,365,614
	1,700,000		Charter Communications Operating LLC	3.750		02/15/28		1,840,893
	1,750,000		Charter Communications Operating LLC	4.200		03/15/28		1,929,001
	1,465,000		Charter Communications Operating LLC	5.125		07/01/49		1,648,229
	8,150,000		Charter Communications Operating LLC	4.800		03/01/50		8,742,630
	4,750,000		Comcast Corp	2.350		01/15/27		4,958,260
	1,625,000		Comcast Corp	3.300		02/01/27		1,773,117
	5,000,000		Comcast Corp	4.150		10/15/28		5,722,163
	4,025,000		Comcast Corp	2.650		02/01/30		4,120,311
	2,300,000		Comcast Corp	1.500		02/15/31		2,133,846
	2,975,000		Comcast Corp	3.200		07/15/36		3,102,513
	1,000,000		Comcast Corp	3.900		03/01/38		1,123,208
	755,000		Comcast Corp	6.400		05/15/38		1,079,441
	11,975,000		Comcast Corp	2.800		01/15/51		10,979,994
	500,000	g	Continuum Energy Levanter Pte Ltd	4.500		02/09/27		511,250
	1,000,000		CSC Holdings LLC	6.750		11/15/21		1,026,250
	5,000,000	g	CSC Holdings LLC	5.500		04/15/27		5,251,750
	1,800,000	g	CSC Holdings LLC	5.750		01/15/30		1,895,841
	446,000		Discovery Communications LLC	2.950		03/20/23		465,967
	1,850,000		Discovery Communications LLC	3.625		05/15/30		1,979,740
	2,000,000		Discovery Communications LLC	5.200		09/20/47		2,371,133
	3,500,000		DISH DBS Corp	5.000		03/15/23		3,651,375
	2,400,000	g	Gray Escrow, Inc	7.000		05/15/27		2,610,000
	1,400,000	g	Gray Television, Inc	5.875		07/15/26		1,450,750
	2,785,000		Grupo Televisa SAB	6.625		01/15/40		3,578,725
	2,250,000	g	India Green Energy Holdings	5.375		04/29/24		2,337,039
	1,275,000		Lamar Media Corp	3.750		02/15/28		1,273,406
	3,000,000		Lamar Media Corp	4.875		01/15/29		3,127,500
	1,000,000		Lamar Media Corp	4.000		02/15/30		997,220

261

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE		VALUE

$	825,000	g	Lamar Media Corp	3.625	%	01/15/31	$	796,991
	1,275,000	g	LCPR Senior Secured Financing DAC	5.125		07/15/29		1,297,466
	5,900,000	g	LUKOIL Securities BV	3.875		05/06/30		6,084,670
	1,175,000	g	Match Group, Inc	4.625		06/01/28		1,200,568
	1,000,000	g	Medco Bell Pte Ltd	6.375		01/30/27		1,003,000
	2,445,000	g	Mexico Remittances Funding Fiduciary Estate Management Sarl	4.875		01/15/28		2,396,345
	540,000		NBC Universal Media LLC	6.400		04/30/40		779,533
	332,000	g	Nielsen Finance LLC	5.000		04/15/22		332,068
	525,000	g	Outfront Media Capital LLC	4.250		01/15/29		505,428
	1,525,000	g	Rackspace Technology Global, Inc	3.500		02/15/28		1,465,754
	2,700,000	g	Sirius XM Radio, Inc	5.375		07/15/26		2,787,750
	2,725,000	g	Sirius XM Radio, Inc	4.125		07/01/30		2,728,134
	750,000		Smithsonian Institution	0.845		09/01/21		750,666
	825,000		Smithsonian Institution	0.895		09/01/22		827,090
	800,000		Smithsonian Institution	0.974		09/01/23		800,123
	1,000,000		Smithsonian Institution	1.118		09/01/24		998,055
	1,600,000		Smithsonian Institution	1.514		09/01/26		1,609,071
	1,225,000	g	TEGNA, Inc	4.750		03/15/26		1,300,031
	850,000		TEGNA, Inc	4.625		03/15/28		864,875
	1,075,000	g	Telefonica Celular del Paraguay S.A.	5.875		04/15/27		1,138,156
	800,000	g	Telenet Finance Luxembourg	5.500		03/01/28		839,962
	1,500,000		Time Warner Cable LLC	5.875		11/15/40		1,862,765
	475,000		Time Warner Cable LLC	4.500		09/15/42		507,685
	850,000		ViacomCBS, Inc	2.900		01/15/27		893,440
	525,000		ViacomCBS, Inc	3.375		02/15/28		557,912
	600,000		ViacomCBS, Inc	5.850		09/01/43		766,325
	125,000		Walt Disney Co	7.625		11/30/28		170,664
	90,000		Walt Disney Co	6.550		03/15/33		124,619
	3,400,000		Walt Disney Co	3.600		01/13/51		3,617,648
	1,825,000		Weibo Corp	3.375		07/08/30		1,815,512
			TOTAL MEDIA & ENTERTAINMENT					145,940,921

PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 1.2%
	850,000		AbbVie, Inc	2.850		05/14/23		886,617
	2,625,000		AbbVie, Inc	3.800		03/15/25		2,867,916
	7,200,000		AbbVie, Inc	2.950		11/21/26		7,665,701
	6,150,000		AbbVie, Inc	3.200		11/21/29		6,542,199
	3,850,000		AbbVie, Inc	4.050		11/21/39		4,310,484
	1,450,000		AbbVie, Inc	4.400		11/06/42		1,685,324
	580,000		AbbVie, Inc	4.450		05/14/46		668,258
	4,850,000		AbbVie, Inc	4.250		11/21/49		5,487,949
	1,500,000	g	Avantor Funding, Inc	4.625		07/15/28		1,566,540
	300,000	g	Bausch Health Cos, Inc	5.750		08/15/27		322,875
	295,000		Bristol-Myers Squibb Co	3.875		08/15/25		328,038
	3,525,000		Bristol-Myers Squibb Co	3.400		07/26/29		3,852,172
	6,350,000		Bristol-Myers Squibb Co	1.450		11/13/30		5,932,622
	1,500,000		Bristol-Myers Squibb Co	4.250		10/26/49		1,766,813
	800,000		Bristol-Myers Squibb Co	2.550		11/13/50		710,969
	400,000	g	Emergent BioSolutions, Inc	3.875		08/15/28		391,000
	475,000	g	Endo Luxembourg Finance Co I Sarl	6.125		04/01/29		479,156
	1,075,000		Gilead Sciences, Inc	1.200		10/01/27		1,030,644
	450,000		Gilead Sciences, Inc	4.000		09/01/36		493,363
	3,900,000		Gilead Sciences, Inc	2.800		10/01/50		3,466,258

262

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE		VALUE

$	345,000	g	Horizon Pharma USA, Inc	5.500	%	08/01/27	$	368,288
	600,000	g	Jaguar Holding Co II	4.625		06/15/25		625,980
	425,000	g	Jaguar Holding Co II	5.000		06/15/28		442,638
	975,000		Johnson & Johnson	2.900		01/15/28		1,054,237
	900,000		Johnson & Johnson	3.400		01/15/38		987,033
	1,450,000		Mylan, Inc	4.550		04/15/28		1,637,478
	1,550,000	g	Royalty Pharma plc	2.200		09/02/30		1,479,150
	6,950,000		Takeda Pharmaceutical Co Ltd	2.050		03/31/30		6,698,328
	600,000		Takeda Pharmaceutical Co Ltd	3.025		07/09/40		580,299
	3,000,000		Teva Pharmaceutical Finance Netherlands III BV	3.150		10/01/26		2,868,750
	1,250,000	g	Viatris, Inc	2.700		06/22/30		1,234,353
	725,000	g	Viatris, Inc	3.850		06/22/40		741,937
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES					69,173,369

REAL ESTATE - 1.7%
	350,000		Alexandria Real Estate Equities, Inc	3.950		01/15/27		390,126
	450,000		Alexandria Real Estate Equities, Inc	3.950		01/15/28		500,164
	1,650,000		Alexandria Real Estate Equities, Inc	4.900		12/15/30		1,949,098
	1,125,000		Alexandria Real Estate Equities, Inc	1.875		02/01/33		1,022,853
	1,200,000		American Tower Corp	3.000		06/15/23		1,262,731
	875,000		American Tower Corp	5.000		02/15/24		976,337
	1,425,000		American Tower Corp	2.950		01/15/25		1,515,267
	475,000		American Tower Corp	3.375		10/15/26		513,687
	1,200,000		American Tower Corp	3.600		01/15/28		1,295,696
	2,200,000		American Tower Corp	3.800		08/15/29		2,395,261
	4,100,000		American Tower Corp	2.900		01/15/30		4,167,861
	2,975,000		American Tower Corp	1.875		10/15/30		2,783,159
	950,000		Brandywine Operating Partnership LP	4.100		10/01/24		1,025,114
	1,750,000		Brixmor Operating Partnership LP	3.850		02/01/25		1,893,411
	350,000		Brixmor Operating Partnership LP	2.250		04/01/28		343,425
	850,000		Corporate Office Properties LP	2.750		04/15/31		821,931
	775,000		Crown Castle International Corp	3.650		09/01/27		844,545
	1,050,000		Crown Castle International Corp	3.800		02/15/28		1,143,852
	2,225,000		Crown Castle International Corp	2.250		01/15/31		2,138,553
	3,525,000		Crown Castle International Corp	2.100		04/01/31		3,328,217
	1,850,000	g	Cushman & Wakefield US Borrower LLC	6.750		05/15/28		2,000,312
	625,000		Digital Realty Trust LP	3.700		08/15/27		688,998
	625,000		Duke Realty LP	4.000		09/15/28		693,268
	1,150,000		Equinix, Inc	2.150		07/15/30		1,093,352
	775,000		Essex Portfolio LP	3.375		01/15/23		806,341
	2,500,000		Essex Portfolio LP	3.000		01/15/30		2,561,322
	1,500,000		Healthcare Realty Trust, Inc	3.875		05/01/25		1,626,851
	1,500,000		Healthcare Realty Trust, Inc	3.625		01/15/28		1,612,065
	525,000		Healthcare Realty Trust, Inc	2.400		03/15/30		511,089
	550,000		Healthcare Realty Trust, Inc	2.050		03/15/31		515,782
	1,225,000		Healthcare Trust of America Holdings LP	3.500		08/01/26		1,338,179
	3,750,000		Healthcare Trust of America Holdings LP	3.100		02/15/30		3,869,842
	375,000		Highwoods Realty LP	3.875		03/01/27		405,866
	725,000		Highwoods Realty LP	4.125		03/15/28		784,451
	700,000		Highwoods Realty LP	4.200		04/15/29		760,175
	4,079,000		Highwoods Realty LP	2.600		02/01/31		3,984,169
	1,225,000	g	Howard Hughes Corp	4.125		02/01/29		1,197,707
	1,300,000	g	Howard Hughes Corp	4.375		02/01/31		1,273,188

263

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE		VALUE

$	460,000		Hudson Pacific Properties LP	3.950	%	11/01/27	$	493,018
	1,400,000		Kennedy-Wilson, Inc	4.750		03/01/29		1,417,500
	1,475,000		Kennedy-Wilson, Inc	5.000		03/01/31		1,493,806
	250,000		Life Storage LP	2.200		10/15/30		236,152
	575,000	g	MGM Growth Properties Operating Partnership LP	4.625		06/15/25		606,453
	1,500,000		Mid-America Apartments LP	4.300		10/15/23		1,620,927
	1,000,000		Mid-America Apartments LP	3.750		06/15/24		1,081,909
	850,000		Mid-America Apartments LP	4.000		11/15/25		943,146
	1,750,000		Mid-America Apartments LP	3.600		06/01/27		1,904,110
	3,925,000		Mid-America Apartments LP	2.750		03/15/30		3,962,571
	1,625,000		Mid-America Apartments LP	1.700		02/15/31		1,492,860
	550,000		National Retail Properties, Inc	4.000		11/15/25		603,977
	600,000		National Retail Properties, Inc	3.600		12/15/26		650,353
	875,000		Regency Centers LP	3.900		11/01/25		955,983
	925,000		Regency Centers LP	3.600		02/01/27		1,001,217
	1,650,000		Regency Centers LP	2.950		09/15/29		1,678,323
	1,700,000		Retail Properties of America, Inc	4.750		09/15/30		1,799,317
	3,950,000	g	SBA Communications Corp	3.125		02/01/29		3,796,543
	603,000		SITE Centers Corp	3.625		02/01/25		629,685
	3,820,000		SITE Centers Corp	4.250		02/01/26		4,075,298
	650,000		SITE Centers Corp	4.700		06/01/27		709,966
	2,750,000	g	Trust F/1401	5.250		01/30/26		3,038,750
	4,000,000	g	VICI Properties LP	4.125		08/15/30		4,034,800
	1,150,000		Weingarten Realty Investors	3.375		10/15/22		1,188,523
	450,000		Weingarten Realty Investors	3.500		04/15/23		471,013
	400,000		Weingarten Realty Investors	4.450		01/15/24		432,893
	925,000		Weingarten Realty Investors	3.850		06/01/25		994,164
	300,000		Weingarten Realty Investors	3.250		08/15/26		314,302
			TOTAL REAL ESTATE					97,661,804

RETAILING - 0.7%
	1,800,000		AutoNation, Inc	3.800		11/15/27		1,963,521
	1,950,000		AutoZone, Inc	1.650		01/15/31		1,785,106
	300,000		Chevron USA, Inc	3.900		11/15/24		330,324
	400,000		Chevron USA, Inc	3.850		01/15/28		445,713
	975,000		Chevron USA, Inc	5.050		11/15/44		1,236,771
	6,250,000	g	JSM Global Sarl	4.750		10/20/30		6,265,687
	925,000	g	L Brands, Inc	6.625		10/01/30		1,056,165
	250,000	g	Lithia Motors, Inc	5.250		08/01/25		257,500
	2,175,000	g	Lithia Motors, Inc	4.625		12/15/27		2,259,281
	790,000		O’Reilly Automotive, Inc	3.550		03/15/26		862,619
	1,400,000		O’Reilly Automotive, Inc	3.600		09/01/27		1,530,379
	1,225,000		O’Reilly Automotive, Inc	4.200		04/01/30		1,377,154
	1,400,000		O’Reilly Automotive, Inc	1.750		03/15/31		1,293,476
	2,145,000		Penske Automotive Group, Inc	5.500		05/15/26		2,207,312
	1,475,000	g	Prosus NV	3.680		01/21/30		1,522,400
	2,000,000	g	Prosus NV	3.832		02/08/51		1,756,550
	5,000,000	g	Staples, Inc	7.500		04/15/26		5,273,750
	4,750,000		Target Corp	2.350		02/15/30		4,815,750
			TOTAL RETAILING					36,239,458

SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.3%
	4,600,000		Broadcom, Inc	4.150		11/15/30		4,965,057

264

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE		VALUE

$	2,003,000	g	Broadcom, Inc	3.469	%	04/15/34	$	2,009,848
	1,500,000	g	Broadcom, Inc	3.500		02/15/41		1,436,615
	1,325,000		Intel Corp	3.734		12/08/47		1,427,279
	700,000		Lam Research Corp	3.750		03/15/26		775,877
	775,000		Lam Research Corp	4.000		03/15/29		877,639
	325,000		Lam Research Corp	1.900		06/15/30		314,981
	325,000		Lam Research Corp	2.875		06/15/50		309,803
	1,425,000	g	NXP BV	3.875		06/18/26		1,568,473
	725,000	g	NXP BV	3.400		05/01/30		765,566
	700,000		Texas Instruments, Inc	2.625		05/15/24		741,855
	775,000		Texas Instruments, Inc	4.150		05/15/48		922,018
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT					16,115,011

SOFTWARE & SERVICES - 0.7%
	2,975,000		Adobe, Inc	2.300		02/01/30		3,008,628
	2,000,000		Baidu, Inc	2.875		07/06/22		2,048,467
	1,275,000		Baidu, Inc	4.375		05/14/24		1,398,647
	550,000	g	Black Knight InfoServ LLC	3.625		09/01/28		540,436
	925,000	g	Booz Allen Hamilton, Inc	3.875		09/01/28		929,856
	425,000	g	Camelot Finance S.A.	4.500		11/01/26		439,416
	1,425,000		Fidelity National Information Services, Inc	2.250		03/01/31		1,400,085
	3,650,000		Fiserv, Inc	2.750		07/01/24		3,857,016
	5,075,000		Fiserv, Inc	3.500		07/01/29		5,473,891
	900,000	g	Gartner, Inc	3.750		10/01/30		892,557
	1,425,000		Global Payments, Inc	2.650		02/15/25		1,497,218
	3,075,000		Global Payments, Inc	3.200		08/15/29		3,238,625
	1,625,000	g	j2 Global, Inc	4.625		10/15/30		1,641,250
	3,000,000		Microsoft Corp	2.400		08/08/26		3,171,763
	1,165,000		Microsoft Corp	3.300		02/06/27		1,285,820
	279,000		Microsoft Corp	2.525		06/01/50		254,050
	1,651,000		Microsoft Corp	2.921		03/17/52		1,626,321
	1,375,000	g	Open Text Corp	5.875		06/01/26		1,421,406
	550,000	g	Open Text Holdings, Inc	4.125		02/15/30		557,530
	1,125,000	g	Presidio Holdings, Inc	4.875		02/01/27		1,153,148
	650,000		salesforce.com, Inc	3.700		04/11/28		725,991
	2,400,000		Twilio, Inc	3.625		03/15/29		2,429,592
	550,000		Visa, Inc	2.700		04/15/40		538,632
			TOTAL SOFTWARE & SERVICES					39,530,345

TECHNOLOGY HARDWARE & EQUIPMENT - 0.6%
	2,025,000		Amphenol Corp	2.800		02/15/30		2,076,154
	5,575,000		Apple, Inc	2.450		08/04/26		5,873,218
	10,350,000		Apple, Inc	2.050		09/11/26		10,715,246
	1,000,000		Apple, Inc	3.850		05/04/43		1,131,006
	875,000		Apple, Inc	4.650		02/23/46		1,087,979
	1,797,000		Broadcom Corp	3.875		01/15/27		1,951,371
	1,646,000	g	CommScope Technologies LLC	6.000		06/15/25		1,679,002
	525,000		Corning, Inc	4.375		11/15/57		573,385
	2,400,000	g	Dell International LLC	5.300		10/01/29		2,807,429
	875,000		Flex Ltd	4.875		06/15/29		987,320
	1,500,000	g	Lenovo Group Ltd	3.421		11/02/30		1,506,111
	2,425,000	g	NCR Corp	5.000		10/01/28		2,449,250
	975,000	g	Sensata Technologies BV	4.000		04/15/29		992,579
	450,000		Tyco Electronics Group S.A.	3.700		02/15/26		492,423
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT					34,322,473

265

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE	MATURITY DATE		VALUE

TELECOMMUNICATION SERVICES - 2.3%
$	3,420,000		AT&T, Inc	4.300	02/15/30	$	3,850,139
	2,500,000		AT&T, Inc	2.250	02/01/32		2,377,845
	6,563,000	g	AT&T, Inc	2.550	12/01/33		6,230,852
	2,085,000		AT&T, Inc	4.500	05/15/35		2,351,599
	2,050,000		AT&T, Inc	3.300	02/01/52		1,846,327
	8,025,000	g	AT&T, Inc	3.550	09/15/55		7,343,729
	7,592,000	g	AT&T, Inc	3.800	12/01/57		7,222,927
	7,083,000	g	AT&T, Inc	3.650	09/15/59		6,474,348
	3,875,000	g	Avaya, Inc	6.125	09/15/28		4,113,564
	3,000,000	g	Bharti Airtel Ltd	4.375	06/10/25		3,221,079
	5,000,000	g	Bharti Airtel Ltd	3.250	06/03/31		4,881,614
	1,325,000	g	C&W Senior Financing Designated Activity Co	7.500	10/15/26		1,402,844
	3,200,000	g	C&W Senior Financing Designated Activity Co	6.875	09/15/27		3,412,000
	1,000,000	g	CommScope, Inc	6.000	03/01/26		1,053,685
	975,000	g	Kenbourne Invest S.A.	4.700	01/22/28		1,002,300
	1,300,000	e,g	Liquid Telecommunications Financing PLC	5.500	09/04/26		1,364,495
	2,268,000	g	Millicom International Cellular S.A.	5.125	01/15/28		2,383,214
	1,175,000	g	Millicom International Cellular S.A.	4.500	04/27/31		1,222,000
	2,150,000	g	MTN Mauritius Investment Ltd	6.500	10/13/26		2,403,495
	2,000,000	g	Network i2i Ltd	5.650	N/A‡		2,115,000
	2,600,000	g	Network i2i Ltd	3.975	N/A‡		2,606,500
	500,000		Orange S.A.	5.375	01/13/42		647,552
	1,150,000		Rogers Communications, Inc	3.700	11/15/49		1,141,870
	1,875,000		Telefonica Emisiones SAU	4.103	03/08/27		2,096,521
	2,300,000		T-Mobile USA, Inc	2.250	02/15/26		2,316,537
	3,000,000		T-Mobile USA, Inc	2.625	02/15/29		2,913,120
	8,650,000	g	T-Mobile USA, Inc	3.875	04/15/30		9,388,364
	6,350,000	g	T-Mobile USA, Inc	2.550	02/15/31		6,221,031
	2,000,000		T-Mobile USA, Inc	2.875	02/15/31		1,933,000
	750,000	g	T-Mobile USA, Inc	3.000	02/15/41		696,113
	725,000	g	T-Mobile USA, Inc	4.500	04/15/50		814,095
	3,000,000	g	T-Mobile USA, Inc	3.300	02/15/51		2,803,710
	1,200,000	g	Turkcell Iletisim Hizmetleri AS.	5.800	04/11/28		1,204,707
	146,000		Verizon Communications, Inc	3.376	02/15/25		158,361
	225,000		Verizon Communications, Inc	3.875	02/08/29		250,301
	950,000	g	Verizon Communications, Inc	1.680	10/30/30		881,349
	750,000		Verizon Communications, Inc	1.750	01/20/31		698,426
	9,113,000		Verizon Communications, Inc	4.272	01/15/36		10,300,277
	11,300,000		Verizon Communications, Inc	2.875	11/20/50		10,043,235
	3,200,000		Vodafone Group plc	4.250	09/17/50		3,514,715
	740,000		Vodafone Group plc	7.000	04/04/79		892,422
	1,325,000	g	Zayo Group Holdings, Inc	4.000	03/01/27		1,301,813
			TOTAL TELECOMMUNICATION SERVICES				129,097,075

TRANSPORTATION - 0.8%
	3,600,000	g	Adani Ports & Special Economic Zone Ltd	3.100	02/02/31		3,413,161
	2,925,000	g	American Airlines, Inc	5.500	04/20/26		3,044,018
	2,300,000		Burlington Northern Santa Fe LLC	3.050	02/15/51		2,224,610
	5,500,000		Canadian Pacific Railway Co	2.050	03/05/30		5,313,439
	2,500,000	g	Cargo Aircraft Management, Inc	4.750	02/01/28		2,581,250
	1,990,000		CSX Corp	3.250	06/01/27		2,163,928

266

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE		VALUE

$	700,000		CSX Corp	3.800	%	03/01/28	$	776,891
	4,015,000		CSX Corp	4.250		03/15/29		4,559,927
	1,950,000		Delta Air Lines, Inc	2.900		10/28/24		1,949,825
	2,575,000	g	Delta Air Lines, Inc	7.000		05/01/25		2,966,291
	1,275,000	g	Delta Air Lines, Inc	4.500		10/20/25		1,360,933
	1,375,000		Delta Air Lines, Inc	3.750		10/28/29		1,340,670
	1,000,000	g	DP World Ltd	5.625		09/25/48		1,172,020
	200,000	g	Hawaiian Brand Intellectual Property Ltd	5.750		01/20/26		212,520
	775,000	g	Lima Metro Line 2 Finance Ltd	4.350		04/05/36		819,562
	1,175,000	g	Mileage Plus Holdings LLC	6.500		06/20/27		1,288,094
	1,550,000		Union Pacific Corp	3.950		09/10/28		1,736,633
	2,275,000		Union Pacific Corp	3.839		03/20/60		2,417,863
			TOTAL TRANSPORTATION					39,341,635

UTILITIES - 3.4%
	3,000,000	g	Adani Green Energy UP Ltd	6.250		12/10/24		3,300,879
	325,000		AEP Transmission Co LLC	3.100		12/01/26		351,243
	350,000		AEP Transmission Co LLC	4.000		12/01/46		384,166
	700,000		Alabama Power Co	4.150		08/15/44		776,286
	1,850,000		Ameren Corp	3.650		02/15/26		2,018,011
	525,000		American Water Capital Corp	3.000		12/01/26		562,716
	1,927,000		American Water Capital Corp	2.800		05/01/30		1,981,804
	500,000		American Water Capital Corp	4.000		12/01/46		544,545
	900,000		American Water Capital Corp	3.750		09/01/47		959,832
	400,000		American Water Capital Corp	3.450		05/01/50		404,451
	3,100,000		Atmos Energy Corp	1.500		01/15/31		2,831,707
	250,000		Atmos Energy Corp	4.125		10/15/44		273,947
	800,000	g	Azure Power Solar Energy Pvt Ltd	5.650		12/24/24		846,469
	1,325,000		Baltimore Gas & Electric Co	3.750		08/15/47		1,417,262
	1,650,000		Baltimore Gas & Electric Co	3.200		09/15/49		1,602,174
	7,100,000		Berkshire Hathaway Energy Co	1.650		05/15/31		6,600,522
	925,000		Black Hills Corp	4.250		11/30/23		1,003,319
	325,000		Black Hills Corp	3.150		01/15/27		346,814
	5,025,000	g	Calpine Corp	3.750		03/01/31		4,789,327
	300,000		CenterPoint Energy Resources Corp	6.250		02/01/37		368,294
	525,000	g	Clearway Energy Operating LLC	4.750		03/15/28		546,205
	1,000,000		CMS Energy Corp	3.600		11/15/25		1,088,048
	3,050,000		CMS Energy Corp	4.750		06/01/50		3,294,000
	200,000		Commonwealth Edison Co	5.900		03/15/36		266,218
	1,225,000		Dominion Energy Gas Holdings LLC	2.500		11/15/24		1,287,924
	3,375,000	h	Dominion Energy, Inc	3.300		04/15/41		3,322,299
	750,000		Dominion Resources, Inc	2.000		08/15/21		753,457
	3,275,000		DTE Electric Co	2.250		03/01/30		3,266,210
	1,175,000		Duke Energy Corp	1.800		09/01/21		1,180,729
	1,175,000		Duke Energy Corp	3.750		09/01/46		1,181,670
	5,000,000		Duke Energy Florida LLC	3.400		10/01/46		5,086,839
	4,000,000		Edison International	5.375		N/A‡		4,055,200
	2,525,000	g	Empresas Publicas de Medellin ESP	4.250		07/18/29		2,556,563
	2,000,000		Enel Chile S.A.	4.875		06/12/28		2,316,000
	6,000,000	g	EnfraGen Energia Sur S.A.	5.375		12/30/30		5,902,560
	3,450,000	g	Eskom Holdings SOC Ltd	8.450		08/10/28		3,746,713
	900,000		Eversource Energy	1.650		08/15/30		834,692
	6,775,000		Exelon Corp	4.050		04/15/30		7,549,242
	1,850,000		Exelon Generation Co LLC	3.400		03/15/22		1,896,475

267

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE		VALUE

$	1,425,000		Florida Power & Light Co	3.990	%	03/01/49	$	1,638,946
UGX	6,000,000,000	†,g	ICBC Standard Bank plc	14.250		06/26/34		1,465,359
$	750,000		Indiana Michigan Power Co	3.750		07/01/47		783,864
	3,000,000	g	Israel Electric Corp Ltd	4.250		08/14/28		3,325,171
	1,525,000	g	Kallpa Generacion SA	4.125		08/16/27		1,624,125
	2,400,000	g	Korea Southern Power Co Ltd	0.750		01/27/26		2,322,336
	775,000		MidAmerican Energy Co	3.650		04/15/29		859,686
	1,550,000		MidAmerican Energy Co	3.650		08/01/48		1,639,109
	3,000,000	g	NBK Tier Financing Ltd	3.625		N/A‡		2,953,941
	1,000,000		Nevada Power Co	5.450		05/15/41		1,287,272
	885,000		NextEra Energy Capital Holdings, Inc	3.250		04/01/26		956,701
	6,050,000		NextEra Energy Capital Holdings, Inc	2.250		06/01/30		5,919,347
	50,000	g	NextEra Energy Operating Partners LP	4.250		09/15/24		52,750
	1,700,000		NiSource, Inc	3.490		05/15/27		1,844,665
	1,400,000		NiSource, Inc	3.600		05/01/30		1,517,404
	6,825,000		NiSource, Inc	1.700		02/15/31		6,321,448
	1,400,000		Northern States Power Co	3.600		09/15/47		1,495,925
	165,000		NRG Energy, Inc	6.625		01/15/27		171,600
	2,475,000	g	NRG Energy, Inc	2.450		12/02/27		2,460,070
	1,350,000		NRG Energy, Inc	5.750		01/15/28		1,434,375
	500,000		NSTAR Electric Co	3.950		04/01/30		561,855
	1,550,000		Ohio Power Co	4.150		04/01/48		1,736,399
	1,550,000		Ohio Power Co	4.000		06/01/49		1,730,803
	575,000		ONE Gas, Inc	3.610		02/01/24		612,983
	600,000	g	Pattern Energy Operations LP	4.500		08/15/28		609,750
	825,000		PECO Energy Co	3.000		09/15/49		789,744
	2,325,000		PECO Energy Co	2.800		06/15/50		2,165,392
	2,000,000	g	Pelabuhan Indonesia III PT	4.875		10/01/24		2,193,500
	2,000,000	g	Perusahaan Listrik Negara PT	4.125		05/15/27		2,148,440
	1,800,000	g	Perusahaan Listrik Negara PT	5.450		05/21/28		2,081,250
	1,042,000	g,o	Petra Diamonds US Treasury plc	10.500		03/08/26		1,010,740
	50,000		Potomac Electric Power Co	7.900		12/15/38		77,663
	2,500,000	g	Promigas S.A. ESP	3.750		10/16/29		2,541,250
	4,000,000		Public Service Co of Colorado	1.875		06/15/31		3,826,387
	550,000		Public Service Co of Colorado	4.750		08/15/41		643,073
	1,600,000		Public Service Co of Colorado	4.050		09/15/49		1,828,074
	275,000		Public Service Co of Colorado	3.200		03/01/50		275,579
	2,500,000	g	Rumo Luxembourg Sarl	5.250		01/10/28		2,628,050
	3,000,000	g	Saka Energi Indonesia PT	4.450		05/05/24		2,647,500
	8,400,000		Sempra Energy	4.875		N/A‡		8,988,000
	2,501,604	g	Solar Star Funding LLC	3.950		06/30/35		2,568,159
	1,325,000		Southern Co	4.400		07/01/46		1,475,497
	10,000,000		Southern Co	4.000		01/15/51		10,552,500
	1,800,000		Southern Co Gas Capital Corp	3.875		11/15/25		1,988,392
	625,000		Southern Co Gas Capital Corp	4.400		06/01/43		676,907
	425,000		Southern Co Gas Capital Corp	3.950		10/01/46		439,821
	2,500,000	g	Talen Energy Supply LLC	7.625		06/01/28		2,531,250
	1,700,000	g	UEP Penonome II S.A.	6.500		10/01/38		1,712,767
	650,000		Virginia Electric & Power Co	2.950		11/15/26		696,771
	650,000		Virginia Electric & Power Co	3.500		03/15/27		712,567
	775,000		Virginia Electric & Power Co	3.800		09/15/47		842,153
	850,000		Wisconsin Power & Light Co	4.100		10/15/44		928,902
	575,000		Xcel Energy, Inc	3.350		12/01/26		622,908
	215,000		Xcel Energy, Inc	4.800		09/15/41		253,296

268

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE	MATURITY DATE		VALUE

			TOTAL UTILITIES			$	186,667,228

			TOTAL CORPORATE BONDS				2,331,472,425
			(Cost $2,266,608,950)

GOVERNMENT BONDS - 34.9%

AGENCY SECURITIES - 0.1%
$	2,500,000	g	Reliance Industries Ltd	3.667	11/30/27		2,714,775
			TOTAL AGENCY SECURITIES				2,714,775

FOREIGN GOVERNMENT BONDS - 3.7%
	3,850,000	g	Abu Dhabi Government International Bond	3.125	09/30/49		3,666,509
	3,325,000	g	Arab Petroleum Investments Corp	4.125	09/18/23		3,593,903
	41,622		Argentina Republic Government International Bond	1.000	07/09/29		14,922
	1,197,950		Argentina Republic Government International Bond (Step Bond)	0.125	07/09/30		400,774
INR	70,000,000		Asian Development Bank	6.200	10/06/26		974,167
$	550,000	g	Banque Ouest Africaine de Developpement	5.000	07/27/27		607,105
	3,000,000	g	Banque Ouest Africaine de Developpement	4.700	10/22/31		3,191,880
EUR	1,575,000	g	Banque Ouest Africaine de Developpement	2.750	01/22/33		1,899,154
$	287,000	g	Barbados Government International Bond	6.500	10/01/29		291,305
	4,000,000	g	Bermuda Government International Bond	3.717	01/25/27		4,340,000
	4,310,000	g	Bermuda Government International Bond	4.750	02/15/29		4,984,084
	550,000	g	Bermuda Government International Bond	2.375	08/20/30		537,625
	1,500,000	e,g	BNG Bank NV	1.500	10/16/24		1,546,442
BRL	5,000,000		Brazil Notas do Tesouro Nacional Serie F	10.000	01/01/27		937,374
$	1,450,000		Brazilian Government International Bond	3.875	06/12/30		1,406,660
	3,100,000		Brazilian Government International Bond	5.625	02/21/47		3,156,947
	1,500,000		Brazilian Government International Bond	4.750	01/14/50		1,362,105
	3,575,000		Chile Government International Bond	2.550	01/27/32		3,602,528
	1,700,000		Chile Government International Bond	3.500	01/25/50		1,728,815
CNY	8,950,000		China Government Bond	2.880	11/05/23		1,366,781
	3,250,000		China Government Bond	3.270	11/19/30		498,987
	3,300,000		China Government Bond	3.810	09/14/50		512,499
$	3,000,000		Colombia Government International Bond	5.000	06/15/45		3,196,230
	1,500,000		Colombia Government International Bond	3.875	02/15/61		1,344,375
	1,850,000	g	Costa Rica Government International Bond	5.625	04/30/43		1,609,500
	750,000	g	Development Bank of Japan, Inc	0.500	03/04/24		748,151
DOP	81,200,000	g	Dominican Republic Government International Bond	8.900	02/15/23		1,472,625
	90,000,000	g	Dominican Republic Government International Bond	9.750	06/05/26		1,706,147
	160,000,000	g	Dominican Republic Government International Bond	12.000	03/05/32		3,516,908
$	3,000,000	g	Dominican Republic Government International Bond	4.875	09/23/32		3,060,000
	3,000,000	g	Dominican Republic Government International Bond	6.500	02/15/48		3,169,500
	170,283	g	Ecuador Government International Bond	0.000	07/31/30		68,115
	496,125	g	Ecuador Government International Bond (Step Bond)	0.500	07/31/30		288,998

269

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE		VALUE

$	1,300,162	g	Ecuador Government International Bond (Step Bond)	0.500	%	07/31/35	$	591,574
	595,875	g	Ecuador Government International Bond (Step Bond)	0.500		07/31/40		257,716
EUR	1,400,000	g	Egypt Government International Bond	5.625		04/16/30		1,629,795
$	1,625,000	g	Egypt Government International Bond	5.875		02/16/31		1,518,518
	2,475,000	g	Egypt Government International Bond	8.500		01/31/47		2,452,397
	2,250,000	g	Egypt Government International Bond	8.875		05/29/50		2,287,855
	1,200,000	g	El Salvador Government International Bond	7.625		02/01/41		1,155,000
	1,375,000	g	Export-Import Bank of India	3.875		02/01/28		1,465,134
	2,625,000	e,g	Export-Import Bank of India	2.250		01/13/31		2,388,791
	2,200,000	g	Ghana Government International Bond	8.125		03/26/32		2,119,431
	1,675,000	g	Guatemala Government International Bond	4.375		06/05/27		1,792,250
	1,200,000	g	Guatemala Government International Bond	6.125		06/01/50		1,389,012
	1,925,000	g	Honduras Government International Bond	5.625		06/24/30		2,011,625
	3,775,000	g	Indonesia Government International Bond	4.625		04/15/43		4,177,361
	2,056,250	g	Iraq Government International Bond	5.800		01/15/28		1,942,210
	3,100,000		Israel Government International Bond	3.250		01/17/28		3,415,234
	2,175,000		Israel Government International Bond	4.125		01/17/48		2,501,250
EUR	125,000	g	Ivory Coast Government International Bond	4.875		01/30/32		142,729
$	1,060,417	g	Ivory Coast Government International Bond (Step Bond)	5.750		12/31/32		1,058,778
	3,025,000		Jamaica Government International Bond	8.000		03/15/39		4,144,250
	2,500,000	g	Japan Finance Organization for Municipalities	3.000		03/12/24		2,670,274
	1,750,000	g	Jordan Government International Bond	4.950		07/07/25		1,795,664
	550,000	g	Kazakhstan Government International Bond	4.875		10/14/44		660,880
	2,500,000	g	Kenya Government International Bond	7.000		05/22/27		2,649,376
	1,560,000	g	Kommunalbanken AS.	2.750		02/05/24		1,660,887
	1,500,000	g	Korea Housing Finance Corp	3.000		10/31/22		1,556,090
	3,550,000	g	Kuwait Government International Bond	2.750		03/20/22		3,626,223
MYR	3,800,000		Malaysia Government Bond	3.828		07/05/34		909,608
MXN	34,000,000		Mexican Bonos	7.750		05/29/31		1,772,352
$	2,200,000		Mexico Government International Bond	4.150		03/28/27		2,439,382
	2,075,000		Mexico Government International Bond	3.250		04/16/30		2,092,409
	1,859,000		Mexico Government International Bond	6.050		01/11/40		2,231,339
	500,000	g	Mongolia Government International Bond	5.125		04/07/26		533,099
	1,025,000	g	Morocco Government International Bond	3.000		12/15/32		958,412
	2,575,000	g	Morocco Government International Bond	5.500		12/11/42		2,832,500
	525,000	g	Morocco Government International Bond	4.000		12/15/50		462,527
	1,400,000	g	Namibia Government International Bond	5.250		10/29/25		1,464,999
	1,500,000	g	Nederlandse Waterschapsbank NV	1.875		04/14/22		1,525,119
	2,425,000	g	Nigeria Government International Bond	6.500		11/28/27		2,496,455
	750,000	g	Oman Government International Bond	6.750		10/28/27		826,399
	1,000,000	g	Oman Government International Bond	6.250		01/25/31		1,043,314
	1,500,000	g	Oman Government International Bond	7.375		10/28/32		1,659,619
	3,000,000		Panama Government International Bond	4.300		04/29/53		3,217,020
	1,600,000		Panama Notas del Tesoro	3.750		04/17/26		1,715,840
	925,000	g	Paraguay Government International Bond	4.700		03/27/27		1,031,384
	1,475,000	g	Paraguay Government International Bond	5.400		03/30/50		1,661,602
	3,400,000	g	Perusahaan Penerbit SBSN Indonesia III	3.900		08/20/24		3,684,070
	3,350,000	g	Perusahaan Penerbit SBSN Indonesia III	4.400		03/01/28		3,756,389
PEN	6,775,000	g	Peruvian Government International Bond	5.400		08/12/34		1,762,684
$	324,058	g	Petroamazonas EP	4.625		12/06/21		294,893
	1,900,000		Philippine Government International Bond	2.950		05/05/45		1,770,941

270

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	1,650,000	†,g	Provincia de Buenos Aires			7.875	%	06/15/27	$	629,063
	1,500,000	g	Provincia de Mendoza Argentina (Step Bond)			2.750		03/19/29		862,500
	700,000	g	Qatar Government International Bond			3.400		04/16/25		760,296
	1,375,000	g	Qatar Government International Bond			3.750		04/16/30		1,534,079
	2,000,000	g	Qatar Government International Bond			4.400		04/16/50		2,307,226
GHS	8,800,000		Republic of Ghana Government Bonds			16.500		02/06/23		1,514,476
$	5,000,000		Republic of Italy Government International Bond			4.000		10/17/49		5,116,485
UZS	5,320,000,000	g	Republic of Uzbekistan Bond			14.500		11/25/23		507,107
$	675,000	g	Republic of Uzbekistan Bond			3.700		11/25/30		653,950
	2,150,000	g	Republic of Uzbekistan Government International Bond			4.750		02/20/24		2,262,799
	2,750,000	g	Romanian Government International Bond			4.375		08/22/23		2,983,883
	1,425,000	g	Romanian Government International Bond			4.000		02/14/51		1,369,012
RUB	74,000,000		Russian Federal Bond-OFZ			6.000		10/06/27		940,340
$	1,600,000	g	Russian Foreign Bond - Eurobond			5.100		03/28/35		1,840,320
	1,175,000	g	Saudi Government International Bond			4.500		04/17/30		1,351,856
	2,000,000	g	Saudi Government International Bond			3.750		01/21/55		1,958,200
	1,225,000	g	Serbia International Bond			2.125		12/01/30		1,126,746
	2,350,000		South Africa Government International Bond			4.300		10/12/28		2,308,371
ZAR	9,000,000		South Africa Government International Bond			7.000		02/28/31		497,683
	9,300,000		South Africa Government International Bond			8.750		01/31/44		493,382
$	2,800,000		South Africa Government International Bond			5.375		07/24/44		2,543,632
	2,050,000		State of Israel			3.375		01/15/50		2,071,484
	2,400,000		State of Israel			3.800		05/13/60		2,552,778
THB	37,000,000		Thailand Government International Bond			3.300		06/17/38		1,294,743
$	1,000,000		Turkey Government International Bond			5.950		01/15/31		903,770
EUR	2,275,000	g	Ukraine Government International Bond			4.375		01/27/30		2,441,526
UYU	59,000,000	g	Uruguay Government International Bond			9.875		06/20/22		1,388,351
$	2,925,000		Uruguay Government International Bond			4.125		11/20/45		3,254,297
	700,000		Uruguay Government International Bond			5.100		06/18/50		867,202
	3,000,000	†,g	Zambia Government International Bond			8.500		04/14/24		1,710,516
			TOTAL FOREIGN GOVERNMENT BONDS							206,049,848

MORTGAGE BACKED - 22.0%
	55		Federal Home Loan Mortgage Corp (FHLMC)			8.250		07/15/21		55
	56		FHLMC			7.000		04/15/22		57
	2,632,000		FHLMC			3.000		10/15/33		2,854,287
	2,924,391		FHLMC			3.500		08/15/43		3,017,998
	3,124,580		FHLMC			3.500		03/15/44		3,279,165
	2,769,558	i	FHLMC	LIBOR 1 M + 5.920%		5.814		03/15/44		512,062
	8,453,344		FHLMC			4.000		10/01/47		9,285,816
	452,962		FHLMC			4.000		06/01/48		497,046
	5,341,912	i	FHLMC	LIBOR 1 M + 9.920%		9.750		06/15/48		6,055,492
	281,346		FHLMC			4.000		07/01/48		307,408
	3,961,533	i	FHLMC	LIBOR 1 M + 9.840%		9.670		10/15/48		4,725,475
	62,304,223		FHLMC			3.000		11/01/49		65,865,503
	9,567,335		FHLMC			2.000		09/25/50		1,159,709
	13,097,601		FHLMC			2.500		11/25/50		2,203,399
	17,045,509		FHLMC			2.500		02/25/51		2,786,760
	981		Federal Home Loan Mortgage Corp Gold (FGLMC)			8.000		01/01/31		1,006
	170,539		FGLMC			7.000		12/01/33		197,021
	25,905		FGLMC			4.500		10/01/34		28,683

271

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE		VALUE
$	47,537		FGLMC	7.000	%	05/01/35	$	54,089
	1,622,631		FGLMC	5.000		06/01/36		1,887,444
	872,581		FGLMC	4.500		10/01/44		980,951
	115,472		FGLMC	4.500		11/01/44		129,673
	166,101		FGLMC	4.500		11/01/44		185,352
	85,455		FGLMC	4.500		12/01/44		94,573
	129,177		FGLMC	4.500		12/01/44		145,223
	774,365		FGLMC	3.500		04/01/45		840,863
	3,132,650		FGLMC	3.500		08/01/45		3,409,929
	6,435,656		FGLMC	3.500		10/01/45		6,982,965
	4,341,728		FGLMC	4.000		12/01/45		4,814,986
	15,750,596		FGLMC	3.500		08/01/46		17,037,160
	15,823,947		FGLMC	3.000		02/01/47		16,737,742
	2,095,888		FGLMC	4.500		06/01/47		2,353,333
	2,347,439		FGLMC	4.000		09/01/47		2,588,172
	2,447,405		FGLMC	3.500		12/01/47		2,643,541
	26,130,363		FGLMC	3.500		03/01/48		28,194,444
	7,956,435		FGLMC	4.000		03/01/48		8,737,737
	1,996,219		FGLMC	4.000		07/01/48		2,181,914
	15,393,848		FGLMC	4.500		08/01/48		17,145,595
	664		Federal National Mortgage Association (FNMA)	7.000		07/01/22		668
	367		FNMA	6.500		07/25/22		378
	1,375		FNMA	9.000		11/01/25		1,495
	15,686		FNMA	7.000		05/01/26		17,160
	48,880		FNMA	7.000		07/25/26		53,769
	1,308		FNMA	7.500		01/01/29		1,445
	654		FNMA	7.500		02/01/30		746
	182,280		FNMA	6.500		12/01/31		205,177
	301,840		FNMA	6.000		04/01/32		337,999
	1,901,530		FNMA	3.500		05/01/32		2,054,872
	218,495		FNMA	7.000		07/01/32		256,120
	65,992		FNMA	7.000		07/01/32		76,337
	46,850		FNMA	7.000		07/01/32		54,385
	1,885,013		FNMA	3.500		11/01/32		2,033,356
	49,346		FNMA	4.500		10/01/33		54,896
	42,331		FNMA	6.000		03/01/34		46,575
	2,221,264		FNMA	5.000		05/01/35		2,578,280
	156,052		FNMA	5.000		06/25/35		161,377
	1,285,814		FNMA	5.000		10/01/35		1,494,805
	964,115		FNMA	5.000		02/01/36		1,121,540
	56,000,000	h	FNMA	2.000		04/25/36		57,471,261
	15,000,000	h	FNMA	2.500		05/25/32		15,599,414
	1,237,338		FNMA	6.500		08/01/37		1,413,673
	64,830		FNMA	6.000		09/01/37		73,939
	758,057		FNMA	5.500		11/01/38		890,914
	768,189		FNMA	5.500		03/01/39		898,848
	732,285		FNMA	6.000		09/01/39		875,122
	11,095,805		FNMA	3.000		05/01/40		11,623,609
	3,902,660		FNMA	3.500		05/01/40		4,140,286
	410,489		FNMA	5.000		09/01/40		474,211
	597,373		FNMA	5.000		05/01/41		694,964
	4,708,235		FNMA	4.000		09/01/42		5,161,222
	469,243	i	FNMA	3.057		12/25/42		173,444
	1,322,414		FNMA	3.000		04/25/43		1,371,881

272

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	3,740,180	i	FNMA	LIBOR 1 M + 5.950%		5.841	%	09/25/43	$	878,311
	3,278,413		FNMA			4.000		01/01/44		3,628,888
	1,163,900		FNMA			4.500		02/01/44		1,306,274
	196,294		FNMA			4.500		03/01/44		224,279
	985,034		FNMA			4.500		06/01/44		1,105,705
	2,938,034		FNMA			4.500		10/01/44		3,298,996
	589,817		FNMA			4.000		11/01/44		646,495
	829,555		FNMA			5.000		11/01/44		957,130
	858,180		FNMA			4.000		01/01/45		945,809
	4,230,820		FNMA			3.000		02/25/45		4,412,356
	3,100,793		FNMA			3.000		02/25/45		3,196,015
	182,078		FNMA			3.500		03/01/45		196,042
	156,429		FNMA			3.500		03/01/45		169,609
	359,175		FNMA			4.500		03/01/45		403,365
	2,297,924		FNMA			3.000		03/25/45		2,379,915
	3,048,987		FNMA			3.500		04/25/45		3,163,140
	1,999,975		FNMA			3.500		05/01/45		2,176,016
	6,049,988		FNMA			4.000		06/01/45		6,685,611
	2,372,203		FNMA			4.000		12/01/45		2,623,055
	684,791		FNMA			4.000		12/01/45		749,999
	5,789,005		FNMA			3.000		12/25/45		6,004,962
	951,599		FNMA			3.500		01/01/46		1,028,402
	5,280,775		FNMA			4.000		01/01/46		5,823,760
	3,001,349		FNMA			4.000		03/01/46		3,302,168
	503,705		FNMA			3.500		06/01/46		545,002
	4,876,802		FNMA			3.500		07/01/46		5,275,382
	6,295,648		FNMA			3.500		07/01/46		6,837,756
	159,760		FNMA			3.000		08/01/46		167,420
	3,448,039		FNMA			3.000		10/01/46		3,535,857
	1,770,253		FNMA			3.500		10/01/46		1,914,492
	21,859,157		FNMA			3.000		11/01/46		23,093,863
	22,536,653		FNMA			3.500		01/01/47		23,987,374
	1,980,258		FNMA			3.000		04/25/47		2,105,289
	2,572,091		FNMA			4.500		05/01/47		2,879,651
	7,523,033		FNMA			3.500		08/01/47		8,051,968
	6,146,639		FNMA			3.500		09/01/47		6,578,939
	2,616,085		FNMA			4.000		09/01/47		2,826,823
	22,700,672		FNMA			4.000		09/01/47		24,489,037
	3,105,864		FNMA			3.000		11/01/47		3,185,195
	1,794,121		FNMA			3.500		11/01/47		1,944,107
	8,012,826		FNMA			4.000		12/01/47		8,801,969
	919,373		FNMA			4.000		12/01/47		992,064
	15,924,962		FNMA			3.500		01/01/48		17,175,695
	1,347,315		FNMA			3.500		01/01/48		1,453,664
	8,706,069		FNMA			4.500		01/01/48		9,682,876
	1,791,149		FNMA			4.500		02/01/48		1,994,206
	15,879,273		FNMA			3.000		02/25/48		16,779,858
	3,375,877		FNMA			4.000		03/01/48		3,706,069
	7,651,728		FNMA			4.500		03/01/48		8,519,167
	563,980		FNMA			4.000		04/01/48		606,553
	6,231,666		FNMA			4.500		05/01/48		6,938,166
	4,648,197		FNMA			4.500		05/01/48		5,175,184
	3,576,311		FNMA			5.000		08/01/48		4,051,054
	3,270,303		FNMA			3.000		11/01/48		3,411,709

273

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE		VALUE

$	5,985,000	h	FNMA	3.000	%	04/25/49	$	6,233,985
	4,238		FNMA	3.000		05/01/49		4,344
	849,002		FNMA	3.000		08/01/49		900,708
	6,914,168		FNMA	3.000		01/25/50		7,211,921
	145,500,000	h	FNMA	2.500		05/25/51		148,995,411
	7,032,517		FNMA	2.000		08/25/50		870,666
	112,045		FNMA	3.000		02/25/51		17,903
	39,345,000	h	FNMA	2.000		04/25/51		39,271,229
	64,150,000	h	FNMA	2.500		04/25/51		65,828,926
	100,500,000	h	FNMA	2.000		05/25/51		100,127,052
	76,017		Government National Mortgage Association (GNMA)	5.000		02/15/33		85,710
	143,823		GNMA	5.000		09/15/33		165,529
	3,840,114		GNMA	3.700		10/15/33		4,130,080
	18,629		GNMA	5.500		04/15/34		21,586
	16,268		GNMA	5.000		04/15/38		18,543
	11,397		GNMA	4.500		02/20/39		13,513
	980,018		GNMA	4.500		02/20/41		1,113,337
	15,428		GNMA	4.500		08/20/41		17,923
	35,929		GNMA	4.500		09/20/41		41,143
	10,797		GNMA	4.500		01/20/44		12,805
	6,783		GNMA	4.500		02/20/44		7,758
	21,459		GNMA	4.500		05/20/44		25,453
	97,982		GNMA	4.500		05/20/44		112,216
	155,172		GNMA	4.500		08/20/44		183,700
	89,861		GNMA	4.500		09/20/44		103,407
	53,054		GNMA	4.500		10/20/44		60,501
	27,064		GNMA	4.500		11/20/44		29,570
	77,718		GNMA	4.500		12/20/44		90,214
	122,775		GNMA	4.500		02/20/45		143,859
	176,866		GNMA	4.500		08/20/45		209,828
	141,832		GNMA	4.500		08/20/45		165,774
	104,516		GNMA	4.500		12/20/45		119,740
	5,142,441		GNMA	4.000		06/20/46		676,055
	6,254,044		GNMA	3.500		01/20/49		6,811,598
	31,701,225		GNMA	3.000		08/20/50		33,044,144
	33,650,000	h	GNMA	2.000		04/20/51		33,975,985
	117,000,000	h	GNMA	2.500		04/20/51		120,720,235
	20,540,000	h	GNMA	3.000		04/20/47		21,397,705
	37,100,000	h	GNMA	2.000		05/20/51		37,398,539
			TOTAL MORTGAGE BACKED					1,223,708,082

MUNICIPAL BONDS - 2.5%
	9,745,000		Chicago Housing Authority	3.922		01/01/27		10,756,943
	1,620,000		City & County of San Francisco CA Community Facilities District	3.000		09/01/25		1,719,979
	1,200,000		City & County of San Francisco CA Community Facilities District	3.250		09/01/27		1,302,526
	5,500,000		City of Cleveland OH Airport System Revenue	2.492		01/01/25		5,749,682
	4,155,000		City of Cleveland OH Airport System Revenue	2.832		01/01/30		4,246,691
	1,040,000		City of Fort Worth TX	3.955		03/01/32		1,089,924
	1,390,000		City of Fort Worth TX	4.088		03/01/37		1,447,665
	2,500,000		City of Inglewood CA	4.300		09/01/40		2,660,243
	500,000		City of San Angelo TX Water & Sewer Revenue	4.261		02/15/37		513,067

274

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE		VALUE

$	2,995,000		County of Miami-Dade FL Aviation Revenue	2.218	%	10/01/22	$	3,076,117
	3,425,000		County of Miami-Dade FL Aviation Revenue	2.949		10/01/25		3,656,539
	1,555,000		County of Miami-Dade FL Aviation Revenue	3.354		10/01/29		1,650,086
	5,475,000		County of Miami-Dade FL Aviation Revenue	4.280		10/01/41		5,893,026
	2,000,000		Denver City & County School District No. 1	4.242		12/15/37		2,305,496
	2,000,000		Florida Municipal Power Agency	2.769		10/01/23		2,074,102
	2,100,000		Florida Municipal Power Agency	2.919		10/01/24		2,199,959
	3,000,000		Florida Municipal Power Agency	3.059		10/01/25		3,160,810
	7,920,000		Grand Parkway Transportation Corp	3.236		10/01/52		7,962,880
	600,000		Grant County Public Utility District No 2	5.630		01/01/27		741,947
	845,000		Illinois Housing Development Authority	4.105		07/01/27		876,522
	3,840,000		Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy	3.375		09/01/35		4,035,464
	1,250,000		Maryland Community Development Administration Housing Revenue	2.713		03/01/25		1,314,939
	395,000		Massachusetts Housing Finance Agency	4.786		12/01/32		406,503
	1,095,000		Massachusetts Housing Finance Agency	4.621		12/01/38		1,111,457
	545,000		Massachusetts Housing Finance Agency	4.721		06/01/40		553,569
	500,000		New Jersey Economic Development Authority	3.700		06/15/21		502,623
	3,515,000		New Jersey Economic Development Authority	4.150		06/15/22		3,643,995
	1,615,000		New Jersey Institute of Technology	4.177		07/01/37		1,708,294
	1,000,000		New York City Transitional Finance Authority Future Tax Secured Revenue	3.780		02/01/26		1,074,798
	1,000,000		New York State Dormitory Authority	2.012		07/01/28		1,007,632
	2,495,000		New York Transportation Development Corp	5.000		01/01/27		2,988,736
	7,995,000		New York Transportation Development Corp	4.248		09/01/35		8,754,199
	5,000,000	†,g,q	Oregon State Business Development Commission	6.500		04/01/31		1,600,000
	780,000	†,g	Oregon State Business Development Commission	0.000		04/01/37		249,425
	11,235,000		Port Authority of New York & New Jersey	1.086		07/01/23		11,402,320
	2,000,000		Port of Seattle WA	3.471		05/01/31		2,137,696
	860,000		Public Finance Authority	4.269		07/01/40		951,469
	1,800,000		Regents of the University of California Medical Center Pooled Revenue	2.759		05/15/29		1,889,292
	5,000,000		Rhode Island Convention Center Authority	3.195		05/15/26		5,111,537
	3,750,000		Rhode Island Convention Center Authority	3.265		05/15/27		3,814,766
	2,045,000		Sangamon County Water Reclamation District	3.272		01/01/37		1,963,952
	2,100,000		State of Colorado	4.047		09/01/38		2,261,163
	7,000,000		University of California	3.063		07/01/25		7,613,859
	4,385,000		Virgin Islands Public Finance Authority	5.000		10/01/21		4,359,673
	4,157,164	g	Virgin Islands Water & Power Authority-Electric System	7.500		07/01/22		4,167,049
	1,245,000		Wake Forest University	3.093		06/01/26		1,320,242
			TOTAL MUNICIPAL BONDS					139,028,856

U.S. TREASURY SECURITIES - 6.6%
	3,900,000		United States Treasury Note	0.125		06/30/22		3,900,914
	665,000		United States Treasury Note	0.125		10/31/22		664,922
	13,975,000		United States Treasury Note	0.125		12/31/22		13,968,995
	29,715,000		United States Treasury Note	0.125		01/31/23		29,701,071
	14,795,000		United States Treasury Note	0.125		02/28/23		14,785,753
	2,175,000		United States Treasury Note	0.125		03/31/23		2,173,556
	139,725,000		United States Treasury Note	0.250		03/15/24		139,353,855
	41,245,000		United States Treasury Note	0.750		03/31/26		40,887,328
	2,210,000		United States Treasury Note	0.625		12/31/27		2,104,421
	2,475,000		United States Treasury Note	0.750		01/31/28		2,372,906
	1,435,000		United States Treasury Note	1.250		03/31/28		1,420,202

275

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	4,200,000		United States Treasury Note			1.125	%	02/15/31	$	3,968,344
	5,325,000		United States Treasury Note			1.875		02/15/41		4,958,074
	98,174,000		United States Treasury Note			1.250		05/15/50		74,086,856
	8,540,000		United States Treasury Note			1.375		08/15/50		6,663,869
	4,635,000		United States Treasury Note			1.625		11/15/50		3,862,259
	26,875,000		United States Treasury Note			1.875		02/15/51		23,851,562
			TOTAL U.S. TREASURY SECURITIES							368,724,887

			TOTAL GOVERNMENT BONDS							1,940,226,448
			(Cost $1,941,012,059)

STRUCTURED ASSETS - 16.3%

ASSET BACKED - 8.0%
	2,287,147	g	AASET Trust			4.335		01/16/40		2,152,008
			Series - 2020 1A (Class B)
	966,621	g	AASET Trust			6.413		01/16/40		671,704
			Series - 2020 1A (Class C)
	6,827,506	g	Adams Outdoor Advertising LP			4.810		11/15/48		7,314,830
			Series - 2018 1 (Class A)
	6,500,000	g	Adams Outdoor Advertising LP			7.356		11/15/48		6,777,267
			Series - 2018 1 (Class C)
	1,350,000	g	Affirm Asset Securitization Trust			3.490		08/15/25		1,358,564
			Series - 2021 A (Class D)
	1,131,293		American Airlines Pass Through Trust			3.575		01/15/28		1,145,396
			Series - 2016 1 (Class AA)
	1,542,694	g	American Homes 4 Rent Trust			3.786		10/17/36		1,648,468
			Series - 2014 SFR2 (Class A)
	1,358,696	g	AMSR Trust			1.819		04/17/37		1,374,856
			Series - 2020 SFR1 (Class A)
	2,625,000	g	AMSR Trust			3.247		01/19/39		2,715,957
			Series - 2019 SFR1 (Class D)
	9,000,000	g,i	Apidos CLO XXIV	LIBOR 3 M + 1.350%		1.467		10/20/30		9,000,036
			Series - 2016 24A (Class A2LX)
	1,000,000	g,i	Apidos CLO XXIX	LIBOR 3 M + 1.550%		1.768		07/25/30		1,000,032
			Series - 2018 29A (Class A2)
	444,158	g	Apollo Aviation Securitization Equity Trust			6.413		01/16/38		347,844
			Series - 2018 1A (Class C)
	3,994,925	g	Applebee’s Funding LLC			4.194		06/07/49		4,102,388
			Series - 2019 1A (Class A2I)
	1,721,350	g	Applebee’s Funding LLC			4.723		06/07/49		1,810,791
			Series - 2019 1A (Class A2II)
	2,150,000	g,i	AREIT Trust	LIBOR 1 M + 1.020%		1.126		09/14/36		2,150,352
			Series - 2019 CRE3 (Class A)
	475,674	i	Asset Backed Securities Corp Home Equity Loan Trust	LIBOR 1 M + 0.900%		3.386		08/25/34		464,950
			Series - 2004 HE5 (Class M1)
	1,500,000	g	Avis Budget Rental Car Funding AESOP LLC			3.780		06/20/22		1,506,327
			Series - 2016 1A (Class B)
	5,000,000	g	Avis Budget Rental Car Funding AESOP LLC			3.360		11/20/22		5,048,495
			Series - 2016 2A (Class B)
	6,830,000	g	Avis Budget Rental Car Funding AESOP LLC			4.830		11/20/22		6,924,115
			Series - 2016 2A (Class C)

276

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	1,500,000	g	Avis Budget Rental Car Funding AESOP LLC			4.150	%	09/20/23	$	1,549,789
			Series - 2017 1A (Class C)
	7,500,000	g	Avis Budget Rental Car Funding AESOP LLC			2.970		03/20/24		7,807,495
			Series - 2017 2A (Class A)
	975,000	g	Avis Budget Rental Car Funding AESOP LLC			4.950		03/20/25		1,052,408
			Series - 2018 2A (Class C)
	1,910,000	g	Avis Budget Rental Car Funding AESOP LLC			4.240		09/22/25		2,048,876
			Series - 2019 2A (Class C)
	269,720	i	Bayview Financial Mortgage Pass-Through Trust			5.500		12/28/35		268,854
			Series - 2005 D (Class AF4)
	1,500,000	i	Bayview Financial Mortgage Pass-Through Trust	LIBOR 1 M + 0.975%		1.084		02/28/41		1,497,756
			Series - 2006 A (Class M3)
	65,134	i	Bear Stearns Asset Backed Securities Trust	LIBOR 1 M + 1.005%		1.114		04/25/36		64,990
			Series - 2006 SD1 (Class M1)
	4,900,000	g	Bojangles Issuer LLC			3.832		10/20/50		5,115,551
			Series - 2020 1A (Class A2)
	1,000,000	g,i	Bonanza RE Ltd	U.S. Treasury Bill 3 M + 4.750%		4.765		12/23/24		1,008,800
	2,603,071	g	BRE Grand Islander Timeshare Issuer LLC			3.280		09/26/33		2,725,049
			Series - 2019 A (Class A)
	2,148,403	g	British Airways 2020-1 Cl B Pass Through Trust			8.375		11/15/28		2,445,011
	1,486,943	g	British Airways 2020-1 Class A Pass Through Trust			4.250		11/15/32		1,557,931
	4,596,940	g	Capital Automotive REIT			3.660		10/15/44		4,603,241
			Series - 2014 1A (Class A)
	4,585,111	g	Capital Automotive REIT			3.870		04/15/47		4,592,762
			Series - 2017 1A (Class A1)
	5,100,000	g	Capital Automotive REIT			4.520		02/15/50		5,211,602
			Series - 2020 1A (Class B2)
	2,496,875	g	Cars Net Lease Mortgage Notes Series			3.100		12/15/50		2,535,875
			Series - 2020 1A (Class A3)
	2,500,000	g	Cars Net Lease Mortgage Notes Series			4.690		12/15/50		2,680,531
			Series - 2020 1A (Class B1)
	2,718,409	g	Castlelake Aircraft Structured Trust			3.474		01/15/46		2,760,877
			Series - 2021 1A (Class A)
	902,415	g	Castlelake Aircraft Structured Trust			6.656		01/15/46		928,416
			Series - 2021 1A (Class B)
	2,400,000	g,i	Cayuga Park CLO, Ltd.	LIBOR 3 M + 2.100%		2.323		07/17/31		2,403,418
			Series - 2020 1A (Class B1)
	1,138,347	i	C-BASS Trust	LIBOR 1 M + 0.080%		0.189		07/25/36		1,104,380
			Series - 2006 CB6 (Class A1)
	6,451,318	†,g,i	CBRE Realty Finance	LIBOR 3 M + 0.300%		0.520		04/07/52		16,128
			Series - 2007 1A (Class A2)
	190,476	†,g	CCR, Inc			4.750		07/10/22		190,476
			Series - 2012 CA (Class C)
	17,452		Centex Home Equity			5.540		01/25/32		18,013
			Series - 2002 A (Class AF6)
	6,680,652	g	CF Hippolyta LLC			2.280		07/15/60		6,792,165
			Series - 2020 1 (Class B1)

277

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	2,977,662	g	CF Hippolyta LLC			2.600	%	07/15/60	$	2,966,980
			Series - 2020 1 (Class B2)
	10,750,000	g	CF Hippolyta LLC			1.530		03/15/61		10,710,751
			Series - 2021 1A (Class A1)
	9,000,000	g	CF Hippolyta LLC			1.980		03/15/61		8,972,957
			Series - 2021 1A (Class B1)
	4,375,000	g,h,i	CIFC Funding	LIBOR 3 M + 1.450%		0.000		04/15/34		4,375,451
			Series - 2021 2A (Class B)
	2,300,000	g,i	CIFC Funding Ltd	LIBOR 3 M + 2.200%		2.424		08/24/32		2,309,653
			Series - 2020 2A (Class B)
	598,780	g	CLI Funding VI LLC			2.080		09/18/45		596,979
			Series - 2020 1A (Class A)
	4,800,000	g	CLI Funding VIII LLC			2.380		02/18/46		4,731,519
			Series - 2021 1A (Class B)
	1,641,350	g	Corevest American Finance Trust			1.832		03/15/50		1,667,887
			Series - 2020 1 (Class A1)
	23,175		Countrywide Asset-Backed Certificates (Step Bond)			5.216		10/25/27		24,203
			Series - 2002 S4 (Class A5)
	10,120,875	g	DB Master Finance LLC			3.787		05/20/49		10,327,240
			Series - 2019 1A (Class A2I)
	4,417,725	g	DB Master Finance LLC			4.021		05/20/49		4,671,700
			Series - 2019 1A (Class A2II)
	3,201,250	g	DB Master Finance LLC			4.352		05/20/49		3,457,158
			Series - 2019 1A (Class A23)
	2,557,538	g	Diamond Resorts Owner Trust			3.700		01/21/31		2,670,538
			Series - 2018 1 (Class A)
	682,010	g	Diamond Resorts Owner Trust			5.900		01/21/31		690,320
			Series - 2018 1 (Class D)
	4,710,900	g	Domino’s Pizza Master Issuer LLC			4.474		10/25/45		4,974,616
			Series - 2015 1A (Class A2II)
	1,867,250	g	Domino’s Pizza Master Issuer LLC			3.082		07/25/47		1,870,219
			Series - 2017 1A (Class A2II)
	4,850,000	g	Domino’s Pizza Master Issuer LLC			4.118		07/25/47		5,221,413
			Series - 2017 1A (Class A23)
	1,564,000	g	Domino’s Pizza Master Issuer LLC			4.116		07/25/48		1,643,436
			Series - 2018 1A (Class A2I)
	2,940,000	g	Driven Brands Funding LLC			4.641		04/20/49		3,097,437
			Series - 2019 1A (Class A2)
	2,985,000	g	Driven Brands Funding LLC			3.786		07/20/50		3,116,221
			Series - 2020 1A (Class A2)
	2,000,000	g,h,i	Dryden 49 Senior Loan Fund	LIBOR 3 M + 3.400%		0.000		07/18/30		2,000,000
			Series - 2017 49A (Class DR)
	1,746,067	g,i	Ellington Loan Acquisition Trust	LIBOR 1 M + 1.100%		1.209		05/25/37		1,748,765
			Series - 2007 2 (Class A2C)
	800,000	†,i	Garanti Diversified Payment Rights Finance Co	LIBOR 3 M + 3.172%		3.397		10/09/21		794,400
			Series - 2016 A (Class A)
	4,987,500	g	Hardee’s Funding LLC			3.981		12/20/50		5,147,549
			Series - 2020 1A (Class A2)
	444,745	g	HERO Funding Trust			3.280		09/20/48		457,712
			Series - 2017 2A (Class A1)
	889,490	g	HERO Funding Trust			4.070		09/20/48		917,494
			Series - 2017 2A (Class A2)
	1,579,047	g	Hertz Vehicle Financing LLC			4.030		07/25/24		1,586,410
			Series - 2018 3A (Class A)

278

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	822,413	g	Hilton Grand Vacations Trust			2.660	%	12/26/28	$	843,564
			Series - 2017 AA (Class A)
	1,370,689	g	Hilton Grand Vacations Trust			2.960		12/26/28		1,396,019
			Series - 2017 AA (Class B)
	1,210,827	g	Hilton Grand Vacations Trust			4.000		02/25/32		1,264,784
			Series - 2018 AA (Class C)
	2,972,111	g	Hilton Grand Vacations Trust			2.840		07/25/33		3,025,654
			Series - 2019 AA (Class C)
	50,145	i	Home Equity Asset Trust	LIBOR 1 M + 1.500%		3.986		06/25/33		50,658
			Series - 2003 1 (Class M1)
	2,323,426	g	Horizon Aircraft Finance II Ltd			3.721		07/15/39		2,320,995
			Series - 2019 1 (Class A)
	484,351	g	Horizon Aircraft Finance II Ltd			6.900		07/15/39		425,091
			Series - 2019 1 (Class C)
	8,342,961	g	Horizon Aircraft Finance III Ltd			3.425		11/15/39		8,236,743
			Series - 2019 2 (Class A)
	199,960	g,i	Invitation Homes Trust	LIBOR 1 M + 1.450%		1.556		06/17/37		200,124
			Series - 2018 SFR2 (Class D)
	500,000	g,i	Invitation Homes Trust	LIBOR 1 M + 1.250%		1.358		01/17/38		502,358
			Series - 2018 SFR4 (Class B)
	773,786	i	JP Morgan Mortgage Acquisition Trust	LIBOR 1 M + 0.320%		0.429		03/25/37		766,326
			Series - 2007 CH3 (Class A1B)
	8,366,880	i	JP Morgan Mortgage Acquisition Trust	LIBOR 1 M + 0.160%		0.269		06/25/37		8,230,692
			Series - 2007 CH5 (Class A1)
	8,677,852	g,i	KKR Industrial Portfolio Trust	LIBOR 1 M + 1.037%		1.143		03/15/37		8,683,284
			Series - 2020 AIP (Class A)
	2,285,168	g,i	KKR Industrial Portfolio Trust	LIBOR 1 M + 1.633%		1.739		03/15/37		2,286,598
			Series - 2020 AIP (Class C)
	1,904,987	g	Lunar Aircraft Ltd			4.335		02/15/45		1,840,491
			Series - 2020 1A (Class B)
	790,987	g	Lunar Aircraft Ltd			6.413		02/15/45		644,260
			Series - 2020 1A (Class C)
	311,655		MASTR Asset Backed Securities Trust (Step Bond)			6.148		11/25/35		312,519
			Series - 2005 AB1 (Class A4)
	848,266		Mid-State Capital Trust			5.745		01/15/40		909,156
			Series - 2005 1 (Class A)
	1,698,356	g	Mosaic Solar Loans LLC			3.820		06/22/43		1,825,945
			Series - 2017 2A (Class A)
	800,000	g,i	MSCG Trust			3.462		06/07/35		670,602
			Series - 2015 ALDR (Class C)
	4,310,000	g,i	MSCG Trust			3.462		06/07/35		3,358,282
			Series - 2015 ALDR (Class D)
	481,892	g	MVW Owner Trust			2.520		12/20/32		484,046
			Series - 2015 1A (Class A)
	703,672	g	MVW Owner Trust			2.640		12/20/33		711,482
			Series - 2016 1A (Class B)
	1,617,684	g	MVW Owner Trust			3.900		01/21/36		1,670,513
			Series - 2018 1A (Class C)
	1,636,713	g	MVW Owner Trust			3.330		11/20/36		1,668,711
			Series - 2019 1A (Class C)
	1,180,000	g,i	Myers Park CLO Ltd	LIBOR 3 M + 1.600%		1.824		10/20/30		1,180,113
			Series - 2018 1A (Class B1)
	2,000,000	g,h,i	Neuberger Berman Loan Advisers CLO 31 Ltd	LIBOR 3 M + 6.500%		0.000		04/20/31		2,000,000
			Series - 2019 31A (Class ER)

279

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	3,500,000	g,h,i	Neuberger Berman Loan Advisers CLO 31 Ltd	LIBOR 3 M + 3.250%		0.000	%	04/20/31	$	3,500,000
			Series - 2019 31A (Class DR)
	1,000,000	g,h,i	Neuberger Berman Loan Advisers CLO 41 Ltd	LIBOR 3 M + 6.500%		0.000		04/15/34		999,894
			Series - 2021 41A (Class E)
	1,000,000	g	Oak Street Investment Grade Net Lease Fund Series			4.230		01/20/51		1,026,707
			Series - 2021 1A (Class B1)
	314,792		Oakwood Mortgage Investors, Inc			5.410		11/15/32		321,647
			Series - 2002 C (Class A1)
	2,500,000	g,i	Octagon Investment Partners 46 Ltd	LIBOR 3 M + 2.200%		2.441		07/15/33		2,503,725
			Series - 2020 2A (Class B)
	950,000	g	Oportun Funding XIV LLC			3.440		03/08/28		949,654
			Series - 2021 A (Class C)
	1,000,000	g	Oportun Funding XIV LLC			5.400		03/08/28		999,522
			Series - 2021 A (Class D)
	7,125,000	g	PFS Financing Corp			0.930		08/15/24		7,166,624
			Series - 2020 F (Class A)
	3,027,936	g	Pioneer Aircraft Finance Ltd			3.967		06/15/44		3,006,065
			Series - 2019 1 (Class A)
	676,937	i	RASC Trust	LIBOR 1 M + 0.590%		3.080		08/25/35		677,158
			Series - 2005 KS8 (Class M4)
	1,250,000	g	Regional Management Issuance Trust			3.040		03/17/31		1,233,923
			Series - 2021 1 (Class C)
	800,000	g	Regional Management Issuance Trust			5.070		03/17/31		788,607
			Series - 2021 1 (Class D)
	2,500,000	g	ServiceMaster Funding LLC			2.841		10/30/51		2,553,175
			Series - 2020 1 (Class A2I)
	7,900,000	g	SERVPRO Master Issuer LLC			3.882		10/25/49		8,146,638
			Series - 2019 1A (Class A2)
	5,000,000	g	SERVPRO Master Issuer LLC			2.394		04/25/51		4,939,475
			Series - 2021 1A (Class A2)
	4,925,000	g	Sesac Finance LLC			5.216		07/25/49		5,202,376
			Series - 2019 1 (Class A2)
	4,720,668	†,g	Settlement Fee Finance LLC			3.840		11/01/49		4,671,809
			Series - 2019 1A (Class A)
	1,500,000	g,i	Sierra Ltd	U.S. Treasury Bill 3 M + 3.250%		3.265		12/28/22		1,527,600
	1,385,003	g	Sierra Timeshare Receivables Funding LLC			3.200		03/20/34		1,400,415
			Series - 2017 1A (Class B)
	1,079,895	g	Sierra Timeshare Receivables Funding LLC			3.650		06/20/35		1,115,167
			Series - 2018 2A (Class B)
	552,632	g	Sierra Timeshare Receivables Funding LLC			4.540		05/20/36		552,479
			Series - 2019 2A (Class D)
	5,000,000	g	Sierra Timeshare Receivables Funding LLC			1.790		11/20/37		5,007,966
			Series - 2021 1A (Class C)
	588,841	g	S-Jets 2017-1 Ltd			5.682		08/15/42		540,406
			Series - 2017 1 (Class B)
	378,477	g	SolarCity LMC			4.800		11/20/38		397,504
			Series - 2013 1 (Class A)
	555,597	g	SolarCity LMC			4.590		04/20/44		555,962
			Series - 2014 1 (Class A)
	1,022,213	g	SolarCity LMC			4.020		07/20/44		1,035,785
			Series - 2014 2 (Class A)

280

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	7,651,204	g	Sonic Capital LLC			3.845	%	01/20/50	$	7,928,790
			Series - 2020 1A (Class A2I)
	2,400,000	g	Stack Infrastructure Issuer LLC			1.893		08/25/45		2,405,855
			Series - 2020 1A (Class A2)
	5,875,000	†,g	Stack Infrastructure Issuer LLC			1.877		03/26/46		5,829,116
			Series - 2021 1A (Class A2)
	1,956,300	g	START Ireland			4.089		05/15/43		1,935,682
			Series - 2018 1 (Class A)
	3,765,081	g	START Ireland			5.095		03/15/44		3,575,944
			Series - 2019 1 (Class B)
	1,553,199	g	START Ireland			6.413		03/15/44		1,095,453
			Series - 2019 1 (Class C)
	1,471,640	g	Start Ltd/Bermuda			5.315		05/15/43		1,398,990
			Series - 2018 1 (Class B)
	6,082	i	Structured Asset Investment Loan Trust	LIBOR 1 M + 0.900%		1.009		09/25/34		5,880
			Series - 2004 8 (Class M1)
	20,109	i	Structured Asset Investment Loan Trust	LIBOR 1 M + 1.000%		1.109		09/25/34		20,035
			Series - 2004 8 (Class A9)
	764,719	i	Structured Asset Securities Corp Mortgage Loan Trust	LIBOR 1 M + 1.500%		1.615		04/25/35		766,824
			Series - 2005 7XS (Class 2A1A)
	938,438	g	Taco Bell Funding LLC			4.377		05/25/46		942,567
			Series - 2016 1A (Class A2II)
	7,772,188	g	Taco Bell Funding LLC			4.970		05/25/46		8,421,942
			Series - 2016 1A (Class A23)
	12,788,633	g	Taco Bell Funding LLC			4.318		11/25/48		12,851,553
			Series - 2018 1A (Class A2I)
	3,910,000	g	Taco Bell Funding LLC			4.940		11/25/48		4,278,205
			Series - 2018 1A (Class A2II)
	5,378,521	g	TES LLC			4.330		10/20/47		5,590,654
			Series - 2017 1A (Class A)
	2,500,000	g	TES LLC			7.740		10/20/47		2,460,656
			Series - 2017 1A (Class B)
	2,980,000	g	Textainer Marine Containers VII Ltd			2.520		02/20/46		2,910,780
			Series - 2021 1A (Class B)
	426,263	g	Thunderbolt Aircraft Lease Ltd			4.500		05/17/32		333,262
			Series - 2017 A (Class C)
	4,198,181	g	Thunderbolt Aircraft Lease Ltd (Step Bond)			4.212		05/17/32		4,259,754
			Series - 2017 A (Class A)
	1,526,252	g	Tricon American Homes Trust			2.716		09/17/34		1,536,284
			Series - 2017 SFR1 (Class A)
	1,600,000	g	Tricon American Homes Trust			4.011		09/17/34		1,619,622
			Series - 2017 SFR1 (Class E)
	400,000	g	Tricon American Homes Trust			3.275		01/17/36		408,260
			Series - 2017 SFR2 (Class B)
	5,147,477		United Airlines Pass Through Trust			5.875		10/15/27		5,706,973
	4,417,307		United Airlines Pass Through Trust			3.700		03/01/30		4,442,172
			Series - 2018 1 (Class )
	4,679,849		United Airlines Pass Through Trust			2.700		05/01/32		4,545,187
			Series - 2019 2 (Class )
	2,000,000	g,i	Ursa Re II Ltd	U.S. Treasury Bill 3 M + 3.750%		3.765		12/07/23		2,044,200
	7,781,620	g	Vine			2.790		11/15/50		7,623,390
			Series - 2020 1A (Class A)

281

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	943,188	g	Vine			6.420	%	11/15/50	$	926,476
			Series - 2020 1A (Class C)
	3,901,597	g	Vivint Colar Financing V LLC			7.370		04/30/48		4,153,809
			Series - 2018 1A (Class B)
	10,037,813	g	Wendys Funding LLC			3.573		03/15/48		10,317,968
			Series - 2018 1A (Class A2I)
	6,772,500	g	Wendys Funding LLC			3.884		03/15/48		7,137,605
			Series - 2018 1A (Class A2II)
	4,620,000	g	Wingstop Funding LLC			2.841		12/05/50		4,678,813
			Series - 2020 1A (Class A2)
			TOTAL ASSET BACKED							447,725,776

OTHER MORTGAGE BACKED - 8.3%
	253,133	g,i	Agate Bay Mortgage Trust			3.500		11/25/44		256,443
			Series - 2014 3 (Class A13)
	408,010	g,i	Agate Bay Mortgage Trust			3.500		09/25/45		412,906
			Series - 2015 6 (Class A9)
	35,800		Alternative Loan Trust			5.250		11/25/33		36,484
			Series - 2003 J3 (Class 1A3)
	278,624	i	Alternative Loan Trust	LIBOR 1 M + 0.750%		0.859		06/25/34		285,819
			Series - 2004 8CB (Class M1)
	816,545	i	American Home Mortgage Investment Trust	LIBOR 6 M + 1.500%		1.720		10/25/34		831,959
			Series - 2004 3 (Class 4A)
	2,165,000		BANK			3.625		05/15/50		2,379,812
			Series - 2017 BNK4 (Class A4)
	1,500,000	i	BANK			3.927		11/15/50		1,629,384
			Series - 2017 BNK8 (Class B)
	1,000,000		BANK			3.455		12/15/52		1,055,403
			Series - 2019 BN23 (Class B)
	4,500,000	g,i	BBCMS Mortgage Trust			4.267		08/05/38		3,836,112
			Series - 2018 CHRS (Class E)
	888,166	i	Bear Stearns Commercial Mortgage Securities Trust			5.117		02/11/41		882,221
			Series - 2005 PWR7 (Class B)
	2,800,000	g,i	Benchmark Mortgage Trust			3.131		09/15/48		2,878,728
			Series - 2020 IG3 (Class AS)
	5,000,000	g,i	Benchmark Mortgage Trust			3.536		09/15/48		5,221,432
			Series - 2020 IG3 (Class BXA)
	1,100,000		Benchmark Mortgage Trust			4.267		03/15/52		1,234,753
			Series - 2019 B9 (Class AS)
	1,100,000		Benchmark Mortgage Trust			3.419		08/15/52		1,173,197
			Series - 2019 B12 (Class AS)
	3,600,000	i	Benchmark Mortgage Trust			4.510		05/15/53		4,149,621
			Series - 2018 B7 (Class A4)
	9,000,000	g	Benchmark Mortgage Trust			4.139		07/15/53		9,073,771
			Series - 2020 B18 (Class AGNF)
	6,500,000	i	Benchmark Mortgage Trust			2.563		02/15/54		6,096,048
			Series - 2021 B23 (Class C)
	13,778,489	g,i	BX Commercial Mortgage Trust	LIBOR 1 M + 0.920%		1.026		10/15/36		13,787,134
			Series - 2019 XL (Class A)
	3,762,045	g,i	BX Commercial Mortgage Trust	LIBOR 1 M + 1.250%		1.356		10/15/36		3,762,044
			Series - 2019 XL (Class C)
	3,762,045	g,i	BX Commercial Mortgage Trust	LIBOR 1 M + 1.800%		1.906		10/15/36		3,759,785
			Series - 2019 XL (Class E)

282

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	1,800,000	i	CD Mortgage Trust			3.879	%	11/10/49	$	1,892,958
			Series - 2016 CD2 (Class B)
	1,000,000	i	CD Mortgage Trust			4.023		11/10/49		1,016,960
			Series - 2016 CD2 (Class C)
	1,400,000	i	CD Mortgage Trust			4.559		02/10/50		1,434,895
			Series - 2017 CD3 (Class C)
	223,732	g,i	CF Mortgage Trust			2.840		04/15/25		235,946
			Series - 2020 P1 (Class A1)
	10,000,000	g,i	CF Mortgage Trust			3.603		04/15/52		9,999,269
			Series - 2020 P1 (Class A2)
	4,250,000	g,i	CF Mortgage Trust			10.010		04/15/52		4,554,928
			Series - 2020 P1 (Class B)
	5,000,000	i	CFCRE Commercial Mortgage Trust			3.502		11/10/49		5,333,641
			Series - 2016 C6 (Class AM)
	169,769		Citicorp Mortgage Securities, Inc			5.500		07/25/35		172,391
			Series - 2005 4 (Class 1A7)
	2,600,000	i	Citigroup Commercial Mortgage Trust			3.758		04/10/48		2,732,542
			Series - 2015 GC29 (Class B)
	1,650,000	i	Citigroup Commercial Mortgage Trust			4.151		04/10/48		1,737,127
			Series - 2015 GC29 (Class C)
	1,425,000		Citigroup Commercial Mortgage Trust			4.233		04/10/49		1,540,521
			Series - 2016 GC37 (Class B)
	1,020,000		Citigroup Commercial Mortgage Trust			3.018		08/10/56		1,065,362
			Series - 2019 GC41 (Class AS)
	460,000	i	Citigroup Mortgage Loan Trust	LIBOR 1 M + 0.750%		0.859		01/25/36		458,833
			Series - 2006 WFH1 (Class M4)
	20,000,000	g	COMM Mortgage Trust			2.841		08/15/45		20,338,066
			Series - 2012 CR2 (Class A3)
	1,900,000		COMM Mortgage Trust			3.101		03/10/46		1,956,063
			Series - 2013 CR6 (Class A4)
	3,000,000	g,i	COMM Mortgage Trust			5.306		08/10/46		2,736,209
			Series - 2013 LC13 (Class D)
	5,000,000		COMM Mortgage Trust			4.199		03/10/47		5,387,064
			Series - 2014 UBS2 (Class AM)
	1,120,000		COMM Mortgage Trust			4.174		05/10/47		1,211,305
			Series - 2014 CR17 (Class AM)
	2,452,500	i	COMM Mortgage Trust			4.456		07/15/47		2,654,091
			Series - 2014 CR18 (Class B)
	1,500,000	g,i	COMM Mortgage Trust			4.709		08/10/47		1,441,369
			Series - 2014 CR19 (Class D)
	3,000,000	i	COMM Mortgage Trust			4.188		10/10/47		3,266,163
			Series - 2014 LC17 (Class AM)
	2,500,000	g	COMM Mortgage Trust			3.000		03/10/48		1,964,995
			Series - 2015 CR22 (Class E)
	2,600,000	g,i	COMM Mortgage Trust			4.106		03/10/48		2,596,967
			Series - 2015 CR22 (Class D)
	3,340,500	i	COMM Mortgage Trust			4.106		03/10/48		3,555,319
			Series - 2015 CR22 (Class C)
	1,000,000		COMM Mortgage Trust			3.801		05/10/48		1,081,579
			Series - 2015 CR23 (Class AM)
	2,500,000	i	COMM Mortgage Trust			4.293		05/10/48		2,537,769
			Series - 2015 CR23 (Class D)
	2,500,000	i	COMM Mortgage Trust			3.463		08/10/48		2,249,933
			Series - 2015 CR24 (Class D)

283

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL

ISSUER

REFERENCE
RATE & SPREAD

RATE

MATURITY
DATE

VALUE

2,500,000

COMM Mortgage Trust

4.380

08/10/48

2,737,816

Series - 2015 CR24 (Class B)

3,000,000

COMM Mortgage Trust

4.380

08/10/48

3,191,784

Series - 2015 CR24 (Class C)

3,175,000

COMM Mortgage Trust

4.480

10/10/48

3,432,908

Series - 2015 CR26 (Class C)

3,038,368

†,i

Commercial Mortgage Load Trust

5.983

12/10/49

1,250,457

Series - 2008 LS1 (Class AM)

874,086

Connecticut Avenue Securities

LIBOR 1 M + 2.600%

2.709

05/25/24

859,387

Series - 2014 C02 (Class 1M2)

8,727,221

Connecticut Avenue Securities

LIBOR 1 M + 3.000%

3.109

07/25/24

8,603,852

Series - 2014 C03 (Class 1M2)

721,813

Connecticut Avenue Securities

LIBOR 1 M + 5.000%

5.109

11/25/24

728,242

Series - 2014 C04 (Class 2M2)

298,645

Connecticut Avenue Securities

LIBOR 1 M + 5.550%

5.659

04/25/28

315,025

Series - 2015 C04 (Class 2M2)

498,895

Connecticut Avenue Securities

LIBOR 1 M + 5.700%

5.809

04/25/28

529,193

Series - 2015 C04 (Class 1M2)

593,561

Connecticut Avenue Securities

LIBOR 1 M + 6.750%

6.859

08/25/28

627,767

Series - 2016 C01 (Class 1M2)

1,847,074

Connecticut Avenue Securities

LIBOR 1 M + 6.950%

7.059

08/25/28

1,969,284

Series - 2016 C01 (Class 2M2)

404,692

Connecticut Avenue Securities

LIBOR 1 M + 6.000%

6.109

09/25/28

426,295

Series - 2016 C02 (Class 1M2)

4,519,298

Connecticut Avenue Securities

LIBOR 1 M + 5.900%

6.009

10/25/28

4,779,436

Series - 2016 C03 (Class 2M2)

2,496,548

Connecticut Avenue Securities

LIBOR 1 M + 4.450%

4.559

01/25/29

2,597,535

Series - 2016 C05 (Class 2M2)

736,716

Connecticut Avenue Securities

LIBOR 1 M + 4.250%

4.359

04/25/29

766,950

Series - 2016 C06 (Class 1M2)

330,027

Connecticut Avenue Securities

LIBOR 1 M + 2.200%

2.309

01/25/30

330,236

Series - 2017 C05 (Class 1M2A)

343,001

Connecticut Avenue Securities

LIBOR 1 M + 2.200%

2.309

01/25/30

346,330

Series - 2017 C05 (Class 1M2)

285,450

Connecticut Avenue Securities

LIBOR 1 M + 2.250%

2.359

07/25/30

285,629

Series - 2018 C01 (Class 1M2)

859,561

Connecticut Avenue Securities

LIBOR 1 M + 0.850%

0.959

10/25/30

853,925

Series - 2018 C03 (Class 1EA2)

1,477,993

Connecticut Avenue Securities

LIBOR 1 M + 2.550%

2.659

12/25/30

1,480,800

Series - 2018 C04 (Class 2M2)

1,121,393

g,i

Connecticut Avenue Securities

LIBOR 1 M + 2.450%

2.559

07/25/31

1,123,497

Series - 2019 R01 (Class 2M2)

1,597,811

g,i

Connecticut Avenue Securities

LIBOR 1 M + 2.100%

2.209

09/25/39

1,600,321

Series - 2019 R06 (Class 2M2)

1,921,041

g,i

Connecticut Avenue Securities

LIBOR 1 M + 2.100%

2.209

10/25/39

1,922,422

Series - 2019 R07 (Class 1M2)

3,620,000

g,i

Connecticut Avenue Securities

LIBOR 1 M + 2.000%

2.109

01/25/40

3,608,719

Series - 2020 R02 (Class 2M2)

2,393,644

g,i

Connecticut Avenue Securities Trust

LIBOR 1 M + 2.400%

2.550

04/25/31

2,397,388

Series - 2018 R07 (Class 1M2)

4,278,463

g,i

Connecticut Avenue Securities Trust

LIBOR 1 M + 2.100%

2.230

06/25/39

4,287,176

Series - 2019 R04 (Class 2M2)

436,976

Countrywide Alternative Loan Trust

LIBOR 1 M + 0.460%

0.571

07/20/35

438,498

Series - 2005 24 (Class 4A1)

284

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	421,283	i	Countrywide Home Loan Mortgage Pass Through Trust			2.770	%	11/20/34	$	434,412
			Series - 2004 HYB6 (Class A2)
	34,253		Countrywide Home Loan Mortgage Pass Through Trust			5.250		09/25/35		32,918
			Series - 2005 17 (Class 1A10)
	5,000,000	g,i	CPT Mortgage Trust			2.997		11/13/39		4,790,355
			Series - 2019 CPT (Class E)
	887,375	g,i	Credit Suisse Commercial Mortgage Trust	LIBOR 1 M + 0.650%		0.759		05/25/36		888,199
			Series - 2006 CF2 (Class M3)
	6,468,699	g,i	Credit Suisse Commercial Mortgage Trust			3.500		02/25/48		6,566,513
			Series - 2018 J1 (Class A11)
	1,152,113	i	Credit Suisse First Boston Mortgage Securities Corp			6.174		04/25/33		1,152,907
			Series - 2003 8 (Class DB1)
	3,340,000		CSAIL Commercial Mortgage Trust			3.505		04/15/50		3,599,462
			Series - 2015 C1 (Class A4)
	1,850,000	g,i	CSMC Series			3.388		10/25/59		1,874,441
			Series - 2019 NQM1 (Class M1)
	5,065,000		DBJPM			3.539		05/10/49		5,435,008
			Series - 2016 C1 (Class AM)
	2,083,000	g,i	DBUBS Mortgage Trust			5.351		08/10/44		2,086,625
			Series - 2011 LC3A (Class B)
	2,000,000	g,i	Ellington Financial Mortgage Trust			3.587		06/25/59		2,004,911
			Series - 2019 1 (Class M1)
	779,552	i	Fieldstone Mortgage Investment Trust	LIBOR 1 M + 0.735%		0.844		12/25/35		776,932
			Series - 2005 2 (Class M2)
	5,212,275	g,i	FirstKey Mortgage Trust			3.500		11/25/44		5,305,645
			Series - 2014 1 (Class A8)
	222,791	g,i	Flagstar Mortgage Trust			3.500		03/25/47		222,616
			Series - 2017 1 (Class 1A5)
	927,202	g,i	Flagstar Mortgage Trust			4.106		10/25/47		961,313
			Series - 2017 2 (Class B3)
	291,323	g,i	Flagstar Mortgage Trust			4.000		09/25/48		294,474
			Series - 2018 5 (Class A11)
	259,236	g,i	Freddie Mac Structured Agency Credit Risk Debt Notes			3.726		02/25/48		259,090
			Series - 2018 SPI1 (Class M2)
	4,445,054	g,i	Freddie Mac Structured Agency Credit Risk Debt Notes			3.809		05/25/48		4,439,704
			Series - 2018 SPI2 (Class M2)
	5,338,588	g,i	Freddie Mac Structured Agency Credit Risk Debt Notes			3.809		05/25/48		5,336,002
			Series - 2018 SPI2 (Class M2B)
	559,734	g,i	Freddie Mac Structured Agency Credit Risk Debt Notes			4.489		11/25/48		559,469
			Series - 2018 SPI4 (Class M2B)
	3,846,000	g,i	GS Mortgage Securities Trust			4.285		02/10/46		3,974,858
			Series - 2013 GC10 (Class C)
	1,225,000	i	GS Mortgage Securities Trust			3.811		11/10/49		1,154,735
			Series - 2016 GS4 (Class C)
	3,800,000	i	GS Mortgage Securities Trust			4.158		02/10/52		4,221,545
			Series - 2019 GC38 (Class AS)

285

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	1,500,000	i	GS Mortgage Securities Trust			4.761	%	02/10/52	$	1,618,718
			Series - 2019 GC38 (Class C)
	1,500,000	g,i	GS Mortgage Securities Trust			3.501		07/10/52		1,570,241
			Series - 2019 GC40 (Class DBB)
	4,500,000	g,i	GS Mortgage Securities Trust			3.550		07/10/52		4,647,517
			Series - 2019 GC40 (Class DBC)
	1,000,000	i	GS Mortgage Securities Trust			3.405		02/13/53		1,044,460
			Series - 2020 GC45 (Class B)
	5,000,000		GS Mortgage Securities Trust			2.012		12/12/53		4,801,808
			Series - 2020 GSA2 (Class A5)
	355,325	g,i	GS Mortgage-Backed Securities Corp Trust			4.000		08/25/49		362,936
			Series - 2019 PJ1 (Class A4)
	287,184	g,i	GS Mortgage-Backed Securities Corp Trust			4.000		11/25/49		289,237
			Series - 2019 PJ2 (Class A1)
	750,107	g,i	GS Mortgage-Backed Securities Corp Trust			4.000		11/25/49		754,267
			Series - 2019 PJ2 (Class A4)
	275,363	g	GSMPS Mortgage Loan Trust			7.500		03/25/35		285,415
			Series - 2005 RP2 (Class 1A2)
	264,177	g	GSMPS Mortgage Loan Trust			7.500		09/25/35		275,376
			Series - 2005 RP3 (Class 1A2)
	416,708		GSR Mortgage Loan Trust			6.000		01/25/35		422,480
			Series - 2005 1F (Class 3A3)
	1,799,640	i	HarborView Mortgage Loan Trust	LIBOR 1 M + 0.620%		0.730		08/19/45		1,801,387
			Series - 2005 11 (Class 2A1A)
	3,000,000	g,i	Hudson Yards Mortgage Trust			3.443		07/10/39		3,065,257
			Series - 2019 30HY (Class D)
	2,000,000	g,i	Hudson Yards Mortgage Trust			2.943		12/10/41		1,961,944
			Series - 2019 55HY (Class D)
	3,500,000	g,i	Hudson Yards Mortgage Trust			2.943		12/10/41		3,255,130
			Series - 2019 55HY (Class F)
	99,330	i	Impac CMB Trust	LIBOR 1 M + 0.660%		0.769		03/25/35		101,472
			Series - 2004 11 (Class 2A1)
	56,048	i	JP Morgan Alternative Loan Trust	LIBOR 1 M + 0.280%		0.389		04/25/47		55,102
			Series - 2007 S1 (Class A1)
	1,700,000	g,i	JP Morgan Chase Commercial Mortgage Securities Corp			4.078		01/15/46		1,736,814
			Series - 2013 C13 (Class D)
	310,000	g,i	JP Morgan Chase Commercial Mortgage Securities Corp			5.419		07/15/46		310,038
			Series - 2011 C4 (Class C)
	1,719,000	i	JP Morgan Chase Commercial Mortgage Securities Corp			4.119		01/15/49		1,893,156
			Series - 2015 JP1 (Class AS)
	2,140,000		JP Morgan Chase Commercial Mortgage Securities Corp			2.822		08/15/49		2,263,086
			Series - 2016 JP2 (Class A4)
	2,365,000		JP Morgan Chase Commercial Mortgage Securities Corp			3.723		03/15/50		2,600,127
			Series - 2017 JP5 (Class A5)
	5,000,000		JP Morgan Chase Commercial Mortgage Securities Corp			3.379		09/15/50		5,281,077
			Series - 2017 JP7 (Class A3)
	428,926	i	JP Morgan Mortgage Trust			2.534		11/25/33		448,030
			Series - 2006 A2 (Class 5A3)

286

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	1,530,541	g,i	JP Morgan Mortgage Trust	LIBOR 1 M - 0.000%		2.124	%	12/25/44	$	1,565,039
			Series - 2015 1 (Class B1)
	183,212	g,i	JP Morgan Mortgage Trust			3.500		05/25/45		185,562
			Series - 2015 3 (Class A19)
	772,604	g,i	JP Morgan Mortgage Trust			3.500		10/25/45		780,768
			Series - 2015 6 (Class A13)
	353,083	g,i	JP Morgan Mortgage Trust			3.500		05/25/46		357,899
			Series - 2016 1 (Class A13)
	1,417,514	g,i	JP Morgan Mortgage Trust			3.500		01/25/47		1,419,528
			Series - 2017 1 (Class A3)
	187,475	g,i	JP Morgan Mortgage Trust			3.500		05/25/47		187,866
			Series - 2017 2 (Class A5)
	477,892	g,i	JP Morgan Mortgage Trust			3.500		05/25/47		484,932
			Series - 2017 2 (Class A13)
	570,236	g,i	JP Morgan Mortgage Trust			3.500		09/25/48		568,823
			Series - 2018 3 (Class A13)
	184,099	g,i	JP Morgan Mortgage Trust			3.500		10/25/48		186,700
			Series - 2018 4 (Class A13)
	757,227	g,i	JP Morgan Mortgage Trust			3.500		10/25/48		768,517
			Series - 2018 5 (Class A13)
	650,420	g,i	JP Morgan Mortgage Trust			3.115		10/26/48		665,601
			Series - 2017 5 (Class A2)
	934,049	g,i	JP Morgan Mortgage Trust			3.928		12/25/48		937,147
			Series - 2018 6 (Class B4)
	382,154	g,i	JP Morgan Mortgage Trust			4.000		01/25/49		390,735
			Series - 2018 8 (Class A13)
	464,007	g,i	JP Morgan Mortgage Trust			4.000		02/25/49		472,014
			Series - 2018 9 (Class A13)
	199,157	g,i	JP Morgan Mortgage Trust			4.000		05/25/49		202,597
			Series - 2019 1 (Class A3)
	911,459	g,i	JP Morgan Mortgage Trust			4.000		05/25/49		926,258
			Series - 2019 1 (Class A15)
	839,919	g,i	JP Morgan Mortgage Trust			4.757		09/25/49		887,805
			Series - 2019 3 (Class B1)
	1,671,067	g,i	JP Morgan Mortgage Trust	LIBOR 1 M + 0.950%		1.059		10/25/49		1,682,903
			Series - 2019 INV1 (Class A11)
	2,514,677	g,i	JP Morgan Mortgage Trust			3.889		06/25/50		2,629,688
			Series - 2020 1 (Class B2)
	699,462		JPMBB Commercial Mortgage Securities Trust			3.657		09/15/47		735,090
			Series - 2014 C23 (Class ASB)
	5,000,000		JPMBB Commercial Mortgage Securities Trust			3.634		02/15/48		5,350,453
			Series - 2015 C27 (Class AS)
	4,800,000	i	JPMBB Commercial Mortgage Securities Trust			4.620		08/15/48		5,260,653
			Series - 2015 C31 (Class B)
	5,000,000		JPMDB Commercial Mortgage Securities Trust			2.536		05/13/53		5,024,182
			Series - 2020 COR7 (Class AS)
	10,000,000	g	Liberty Street Trust			3.597		02/10/36		10,853,396
			Series - 2016 225L (Class A)
	384,347		Master Alternative Loan Trust			7.000		01/25/34		410,413
			Series - 2004 1 (Class 3A1)
	938,092	g	Morgan Stanley Bank of America Merrill Lynch Trust			4.384		12/15/46		980,267
			Series - 2014 C19 (Class LNC2)

287

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	850,782		Morgan Stanley Bank of America Merrill Lynch Trust			3.338	%	03/15/48	$	912,070
			Series - 2015 C21 (Class A4)
	466,430	i	Morgan Stanley Capital I Trust	LIBOR 1 M + 0.825%		0.934		08/25/34		462,077
			Series - 2004 HE6 (Class M1)
	1,959,950	i	Morgan Stanley Capital I Trust	LIBOR 1 M + 0.705%		0.814		02/25/35		1,969,709
			Series - 2005 WMC2 (Class M3)
	2,000,000	i	Morgan Stanley Capital I Trust			3.779		05/15/48		2,194,386
			Series - 2015 MS1 (Class A4)
	211,046	†,i	Morgan Stanley Capital I Trust			6.099		12/12/49		119,030
			Series - 2007 IQ16 (Class AJFX)
	300,000		Morgan Stanley Capital I Trust			3.587		12/15/50		328,711
			Series - 2017 HR2 (Class A4)
	2,150,000	i	Morgan Stanley Capital I Trust			4.429		07/15/51		2,425,274
			Series - 2018 H3 (Class AS)
	1,500,000	g	MRCD Mortgage Trust			2.718		12/15/36		1,481,012
			Series - 2019 PARK (Class E)
	2,000,000	g,i	Natixis Commercial Mortgage Securities Trust	LIBOR 1 M + 0.784%		0.890		07/15/33		1,987,391
			Series - 2018 850T (Class A)
	11,100,000	g,i	Natixis Commercial Mortgage Securities Trust	LIBOR 1 M + 1.500%		1.606		07/15/36		11,132,327
			Series - 2019 MILE (Class A)
	3,000,000	g,i	Natixis Commercial Mortgage Securities Trust	LIBOR 1 M + 3.500%		3.606		07/15/36		2,976,654
			Series - 2019 MILE (Class E)
	4,500,000	g,i	Natixis Commercial Mortgage Securities Trust	LIBOR 1 M + 4.250%		4.356		07/15/36		4,429,604
			Series - 2019 MILE (Class F)
	10,000,000	g	Natixis Commercial Mortgage Securities Trust			3.305		10/15/36		9,955,932
			Series - 2019 1776 (Class D)
	2,000,000	g	Natixis Commercial Mortgage Securities Trust			3.902		10/15/36		1,962,240
			Series - 2019 1776 (Class E)
	131,721	g,i	New Residential Mortgage Loan Trust			4.000		02/25/57		141,252
			Series - 2017 1A (Class A1)
	853,872	g,i	New Residential Mortgage Loan Trust			4.000		08/27/57		913,923
			Series - 2017 6A (Class A1)
	246,659	i	New York Mortgage Trust	LIBOR 1 M + 0.480%		0.589		02/25/36		247,075
			Series - 2005 3 (Class A1)
	688,355	g,i	OBX Trust	LIBOR 1 M + 0.650%		0.759		06/25/57		689,731
			Series - 2018 1 (Class A2)
	5,700,000	g	One Bryant Park Trust			2.516		09/15/54		5,753,557
			Series - 2019 OBP (Class A)
	341,095	g,i	Sequoia Mortgage Trust			3.500		05/25/45		347,074
			Series - 2015 2 (Class A1)
	436,704	g,i	Sequoia Mortgage Trust			3.500		06/25/46		442,710
			Series - 2016 1 (Class A19)
	1,553,463	g,i	Sequoia Mortgage Trust			3.500		11/25/46		1,563,865
			Series - 2016 3 (Class A10)
	976,357	g,i	Sequoia Mortgage Trust			3.500		02/25/47		979,731
			Series - 2017 1 (Class A4)
	1,431,772	g,i	Sequoia Mortgage Trust			3.500		02/25/47		1,452,285
			Series - 2017 2 (Class A19)
	1,388,141	g,i	Sequoia Mortgage Trust			3.500		04/25/47		1,391,737
			Series - 2017 3 (Class A4)

288

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	1,285,264	g,i	Sequoia Mortgage Trust			3.500	%	04/25/47	$	1,302,589
			Series - 2017 3 (Class A19)
	1,260,219	g,i	Sequoia Mortgage Trust			3.749		09/25/47		1,335,015
			Series - 2017 6 (Class B1)
	596,613	g,i	Sequoia Mortgage Trust			3.500		02/25/48		608,036
			Series - 2018 2 (Class A1)
	1,939,809	g,i	Sequoia Mortgage Trust			3.500		02/25/48		1,969,500
			Series - 2018 2 (Class A19)
	816,058	g,i	Sequoia Mortgage Trust			3.500		03/25/48		831,612
			Series - 2018 3 (Class A1)
	97,436	g,i	Sequoia Mortgage Trust			3.500		03/25/48		97,442
			Series - 2018 3 (Class A4)
	104,197	g,i	Sequoia Mortgage Trust			4.000		09/25/48		105,806
			Series - 2018 7 (Class A19)
	46,527	g,i	Sequoia Mortgage Trust			4.000		11/25/48		47,030
			Series - 2018 8 (Class A19)
	1,287,865	g,i	Sequoia Mortgage Trust			4.000		06/25/49		1,311,532
			Series - 2019 2 (Class A1)
	369,864	g,i	Sequoia Mortgage Trust			4.000		06/25/49		374,628
			Series - 2019 2 (Class A19)
	1,705,574	g,i	Sequoia Mortgage Trust			3.500		11/25/49		1,725,248
			Series - 2019 4 (Class A1)
	3,193,094	g,i	Sequoia Mortgage Trust			3.500		12/25/49		3,223,796
			Series - 2019 5 (Class A1)
	1,796,117	g,i	Sequoia Mortgage Trust			3.500		12/25/49		1,813,387
			Series - 2019 5 (Class A19)
	3,635,596	g,i	Sequoia Mortgage Trust			3.000		04/25/50		3,718,106
			Series - 2020 3 (Class A19)
	151,296	g,i	Shellpoint Co-Originator Trust			3.500		11/25/46		152,093
			Series - 2016 1 (Class 1A10)
	611,563	g,i	Shellpoint Co-Originator Trust			3.500		04/25/47		612,850
			Series - 2017 1 (Class A4)
	1,006,237	g,i	Shellpoint Co-Originator Trust			3.500		10/25/47		1,022,741
			Series - 2017 2 (Class A1)
	3,500,000	g,i	Spruce Hill Mortgage Loan Trust			3.827		01/28/50		3,524,974
			Series - 2020 SH1 (Class B1)
	34,120	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 4.150%		4.259		01/25/25		34,120
			Series - 2015 DN1 (Class M3)
	2,208,522	i	STACR	LIBOR 1 M + 4.650%		4.759		10/25/28		2,310,959
			Series - 2016 DNA2 (Class M3)
	47,131	i	STACR	LIBOR 1 M + 1.200%		1.309		10/25/29		47,191
			Series - 2017 DNA2 (Class M1)
	1,373,173	i	STACR	LIBOR 1 M + 1.800%		1.909		07/25/30		1,363,695
			Series - 2018 DNA1 (Class M2)
	3,004,465	i	STACR	LIBOR 1 M + 2.300%		2.472		08/25/30		3,004,463
			Series - 2018 HQA1 (Class M2)
	1,402,438	g,i	STACR			4.023		09/25/47		1,400,819
			Series - 2017 SPI1 (Class M2)
	1,215,252	g,i	STACR			4.148		08/25/48		1,212,348
			Series - 2018 SPI3 (Class M2)
	877,742	g,i	STACR			4.489		11/25/48		876,651
			Series - 2018 SPI4 (Class M2)
	1,624,282	g,i	STACR	LIBOR 1 M + 2.050%		2.159		11/25/49		1,624,281
			Series - 2019 HQA4 (Class M2)

289

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	597,561	g,i	STACR	LIBOR 1 M + 1.700%		1.809	%	12/25/49	$	595,569
			Series - 2020 DNA1 (Class M2)
	5,010,000	g,i	STACR	LIBOR 1 M + 1.850%		1.959		02/25/50		4,990,582
			Series - 2020 DNA2 (Class M2)
	4,072,000	g,i	STACR	LIBOR 1 M + 3.100%		3.209		03/25/50		4,117,731
			Series - 2020 HQA2 (Class M2)
	475,000	g	Tricon American Homes			2.049		07/17/38		472,133
			Series - 2020 SFR1 (Class B)
	3,000,000		UBS-Barclays Commercial Mortgage Trust			2.850		12/10/45		3,091,351
			Series - 2012 C4 (Class A5)
	1,000,000	g,i	UBS-Barclays Commercial Mortgage Trust			3.649		03/10/46		1,015,263
			Series - 2013 C5 (Class B)
	1,291,097	g	VERUS A3 (Step Bond)			1.733		05/25/65		1,291,538
			Series - 2020 5 (Class A3)
	2,000,000	g,i	Verus Securitization Trust			3.781		05/25/59		1,977,653
			Series - 2019 2 (Class M1)
	350,000	g,i	Verus Securitization Trust			3.139		07/25/59		350,444
			Series - 2019 3 (Class M1)
	824,870	g	Verus Securitization Trust			2.321		05/25/65		838,436
			Series - 2020 4 (Class A3)
	1,468,098	g	VSE VOI Mortgage LLC			4.020		02/20/36		1,522,785
			Series - 2018 A (Class C)
	302,488	i	Wachovia Mortgage Loan Trust			2.560		10/20/35		292,258
			Series - 2005 B (Class 1A1)
	12,495	i	Washington Mutual Mortgage Pass-Through Certificates Trust			5.956		08/25/38		13,028
			Series - 2004 RA3 (Class 2A)
	2,000,000	i	Wells Fargo Commercial Mortgage Trust			4.147		05/15/48		2,034,439
			Series - 2015 NXS1 (Class D)
	483,128	g,i	Wells Fargo Mortgage Backed Securities Trust			4.000		04/25/49		489,163
			Series - 2019 2 (Class A17)
	9,826	g	WFRBS Commercial Mortgage Trust			4.375		03/15/44		9,817
			Series - 2011 C3 (Class A4)
	5,277,000		WFRBS Commercial Mortgage Trust			3.607		11/15/47		5,690,333
			Series - 2014 C24 (Class A5)
	2,000,000		WF-RBS Commercial Mortgage Trust			3.337		06/15/46		2,103,848
			Series - 2013 C14 (Class A5)
	179,534	g,i	WinWater Mortgage Loan Trust			3.854		06/20/44		181,970
			Series - 2014 1 (Class B4)
			TOTAL OTHER MORTGAGE BACKED							463,506,848

			TOTAL STRUCTURED ASSETS							911,232,624
			(Cost $901,264,304)

			TOTAL BONDS							5,182,931,497
			(Cost $5,108,885,313)

SHARES			COMPANY

COMMON STOCKS - 0.0%

ENERGY - 0.0%
	1,538	*,†	Cloud Peak Energy, Inc							15
			TOTAL ENERGY							15

290

TIAA-CREF FUNDS - Core Plus Bond Fund

SHARES			COMPANY					VALUE

MATERIALS - 0.0%
	27,730,192	*	Petra Diamonds					$	575,573
			TOTAL MATERIALS						575,573

MEDIA & ENTERTAINMENT - 0.0%
	158,619	*	Cirque Du Soleil Holding USA Newco, Inc						1,181,712
			TOTAL MEDIA & ENTERTAINMENT						1,181,712

REAL ESTATE - 0.0%
	7,034	*	Warehouses De Pauw CVA						7,913
			TOTAL REAL ESTATE						7,913

			TOTAL COMMON STOCKS						1,765,213
			(Cost $1,848,627)

PREFERRED STOCKS - 0.3%

BANKS - 0.2%
	142,800		Bank of America Corp						3,570,000
	196,000	*	JPMorgan Chase & Co						5,021,520
	200,000		Wintrust Financial Corp						5,600,000
			TOTAL BANKS						14,191,520

DIVERSIFIED FINANCIALS - 0.1%
	35,370		Morgan Stanley						1,001,679
	108,701	e	Morgan Stanley						3,059,933
			TOTAL DIVERSIFIED FINANCIALS						4,061,612

			TOTAL PREFERRED STOCKS						18,253,132
			(Cost $17,314,409)

PRINCIPAL			ISSUER	RATE			MATURITY DATE

SHORT-TERM INVESTMENTS - 14.5%

GOVERNMENT AGENCY DEBT - 10.6%
$	25,000,000		Federal Farm Credit Bank (FFCB)		0.040	%	04/13/21		25,000,000
	10,000,000		FFCB		0.040		04/22/21		10,000,000
	15,000,000		FFCB		0.080		12/28/21		14,994,354
	5,000,000		FFCB		0.080		01/07/22		4,998,049
	24,980,000		Federal Home Loan Bank (FHLB)		0.037		04/13/21		24,980,000
	118,871,000		FHLB		0.085		04/14/21		118,871,000
	44,928,000		FHLB		0.028		04/16/21		44,928,000
	25,000,000		FHLB		0.005		04/19/21		25,000,000
	34,200,000		FHLB		0.080		04/21/21		34,200,000
	12,500,000		FHLB		0.040		04/22/21		12,500,000
	25,000,000		FHLB		0.030		04/23/21		25,000,000
	5,993,000		FHLB		0.010		04/28/21		5,993,000
	20,000,000		FHLB		0.014		05/12/21		19,999,772
	24,920,000		FHLB		0.035		05/28/21		24,919,606
	11,500,000		FHLB		0.025		06/11/21		11,499,546
	37,370,000		FHLB		0.025		06/16/21		37,368,422
	12,000,000		FHLB		0.023		06/23/21		11,999,447
	15,000,000		FHLB		0.086		06/30/21		14,999,250
	20,000,000		FHLB		0.050		08/06/21		19,997,884

291

TIAA-CREF FUNDS - Core Plus Bond Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE		VALUE

$	25,000,000		FHLB	0.054	%	08/13/21	$	24,997,208
	33,600,000		FHLB	0.058		08/18/21		33,596,108
	20,000,000		FHLB	0.058		09/08/21		19,996,444
	7,000,000		FHLB	0.025		09/15/21		6,998,701
	12,420,000		Tennessee Valley Authority (TVA)	0.022		04/07/21		12,420,000
			TOTAL GOVERNMENT AGENCY DEBT					585,256,791

TREASURY DEBT - 3.8%
	33,800,000		Egypt Treasury Bill	0.000		05/25/21		2,114,519
	35,075,000		Egypt Treasury Bill	0.000		08/24/21		2,122,085
	16,000,000		Ukraine Treasury Bill	0.000		10/27/21		544,258
	25,000,000		United States Cash Management Bill	0.023		07/06/21		24,999,133
	69,115,000		United States Treasury Bill	0.031		04/08/21		69,114,933
	36,185,000		United States Treasury Bill	0.095		04/29/21		36,184,718
	12,000,000		United States Treasury Bill	0.025		05/04/21		11,999,808
	25,000,000		United States Treasury Bill	0.030		05/20/21		24,999,490
	39,173,000		United States Treasury Bill	0.042		05/27/21		39,172,238
			TOTAL TREASURY DEBT					211,251,182

SHARES			COMPANY

INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 0.1%
	8,330,743	c	State Street Navigator Securities Lending Government Money Market Portfolio	0.030				8,330,743
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES					8,330,743

			TOTAL SHORT-TERM INVESTMENTS					804,838,716
			(Cost $804,819,028)
			TOTAL INVESTMENTS - 111.1%					6,183,572,716
			(Cost $6,109,018,648)
			OTHER ASSETS & LIABILITIES, NET - (11.1)%					(618,748,679	)
			NET ASSETS - 100.0%				$	5,564,824,037


			Abbreviation(s):
BRL			Brazilian Real
CNY			Chinese Yuan
DOP			Dominican Republic Peso
EGP			Egyptian Pound
EUR			Euro
INR			Indian Rupee
LIBOR			London Interbank Offered Rate
M			Month
MXN			Mexican Peso
MYR			Malaysian Ringgit
PEN			Peruvian Sol
REIT			Real Estate Investment Trust
RUB			Russian Ruble
THB			Thai Baht
UAH			Ukrainian Hryvnia
UYU			Uruguayan Peso
ZAR			South African Rand

292

TIAA-CREF FUNDS - Core Plus Bond Fund

*		Non-income producing
†		Security is categorized as Level 3 in the fair value hierarchy.
‡		Perpetual security
c		Investments made with cash collateral received from securities on loan.
e		All or a portion of these securities are out on loan. The aggregate value of securities on loan is $8,114,934.
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 3/31/2021, the aggregate value of these securities is $1,607,242,614 or 28.9% 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.
o		Payment in Kind Bond
q		In default

Forward foreign currency contracts outstanding as of March 31, 2021 were as follows:

Currency to be purchased

Receive

Currency to be sold

Deliver

Counterparty

Settlement date

Unrealized appreciation (depreciation)

1,901,294

EUR

1,560,290

AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED

04/22/21

70,707


		Abbreviation(s):
EUR		Euro

Centrally cleared credit default swap contracts outstanding as of March 31, 2021 were as follows:

PURCHASED

Reference
entity

Terms of
payments to
be paid

Terms of
payments to
be received

Counterparty

Fixed rate payment frequency

Maturity date

Notional
amount*

Value

Premiums paid (received)

Variation margin

Unrealized appreciation (depreciation)

CDX-NAHYS36V1-5Y

5.000%

Credit event as specified in contract

Citigroup Global Markets, Inc

Quarterly

06/20/26

170,000,000

$(15,398,071)

$(14,477,309)

(754,217)

(920,762

)

* 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.

SOLD

Reference
entity

Terms of
payments to
be paid

Terms of
payments to
be received

Counterparty

Fixed rate payment frequency

Maturity date

Notional
amount*

Value

Premiums paid (received)

Variation margin

Unrealized appreciation (depreciation)

CDX-NAHYS36V1-5Y

Credit event as specified in contract

5.000%

Citigroup Global Markets, Inc

Quarterly

06/20/26

$ 30,000,000

$2,642,313

$2,600,646

41,667

*	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.

293

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

March 31, 2021

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

LONG-TERM MUNICIPAL BONDS - 97.3%

ALABAMA - 2.3%
$	500,000		City of Birmingham AL		5.000	%	12/01/29	$	634,163
	500,000		City of Birmingham AL		5.000		12/01/30		632,231
	630,000		County of Mobile AL		5.000		02/01/34		796,835
	2,900,000		Lower Alabama Gas District		4.000		12/01/50		3,304,116
	1,000,000		University of South Alabama		5.000		11/01/31		1,199,003
			TOTAL ALABAMA						6,566,348

ALASKA - 1.3%
	500,000		Alaska Municipal Bond Bank Authority		5.000		12/01/31		596,205
	2,570,000		Borough of Matanuska-Susitna AK		5.000		09/01/25		2,985,839
			TOTAL ALASKA						3,582,044

ARIZONA - 0.9%
	2,000,000		Chandler Industrial Development Authority		5.000		06/01/49		2,270,680
	190,000		Pinal County Electric District No 3		5.000		07/01/33		227,476
			TOTAL ARIZONA						2,498,156

ARKANSAS - 0.5%
	1,000,000		City of Fort Smith AR Water & Sewer Revenue		5.000		10/01/32		1,266,551
			TOTAL ARKANSAS						1,266,551

CALIFORNIA - 4.2%
	1,090,000		California County Tobacco Securitization Agency		4.000		06/01/36		1,318,498
	365,000		California Educational Facilities Authority		5.000		12/01/29		455,823
	1,510,000		California Health Facilities Financing Authority		5.000		09/01/33		1,827,324
	185,000		California Municipal Finance Authority		4.000		07/15/29		209,417
	715,000	g	California School Finance Authority		5.000		08/01/25		839,373
	225,000	g	California Statewide Communities Development Authority		5.000		12/01/28		273,383
	2,000,000		City of Los Angeles Department of Airports		5.000		05/15/27		2,404,095
	1,000,000		City of Los Angeles Department of Airports		5.000		05/15/36		1,289,690
	450,000		Palmdale Community Redevelopment Agency		5.000		09/01/25		530,014
	415,000		Palmdale Community Redevelopment Agency		5.000		09/01/31		492,560
	750,000		San Diego Public Facilities Financing Authority		5.000		10/15/31		880,480
	500,000		Santee CDC Successor Agency		5.000		08/01/27		605,159
			TOTAL CALIFORNIA						11,125,816

294

TIAA-CREF FUNDS - 5-15 Year Laddered Tax-Exempt Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

COLORADO - 1.3%
$	1,500,000		City & County of Denver CO Airport System Revenue		5.000	%	11/15/30	$	1,831,609
	250,000		Colorado Health Facilities Authority		5.000		12/01/41		287,594
	310,000		Denver Health & Hospital Authority		5.000		12/01/28		392,155
	1,000,000		Interlocken Metropolitan District		5.000		12/01/27		1,247,204
			TOTAL COLORADO						3,758,562

CONNECTICUT - 4.5%
	1,180,000		Capital Region Development Authority		5.000		06/15/29		1,435,062
	765,000		Capital Region Development Authority		5.000		06/15/33		913,612
	1,900,000		City of Bridgeport CT		5.000		06/01/34		2,391,655
	495,000		Connecticut State Health & Educational Facilities Authority		5.000		07/01/27		608,463
	630,000		Connecticut State Health & Educational Facilities Authority		5.000		07/01/29		744,197
	330,000		Connecticut State Health & Educational Facilities Authority		5.000		07/01/30		386,681
	350,000		Connecticut State Health & Educational Facilities Authority		5.000		07/01/32		418,202
	350,000		Connecticut State Health & Educational Facilities Authority		5.000		07/01/33		416,928
	300,000		Connecticut State Higher Education Supplement Loan Authority		5.000		11/15/25		353,251
	250,000		Connecticut State Higher Education Supplement Loan Authority		5.000		11/15/26		300,807
	500,000		State of Connecticut Special Tax Revenue		5.000		05/01/30		657,410
	1,000,000		State of Connecticut Special Tax Revenue		5.000		05/01/34		1,279,871
	2,000,000		University of Connecticut		5.000		03/15/28		2,398,731
			TOTAL CONNECTICUT						12,304,870

DISTRICT OF COLUMBIA - 0.4%
	955,000		District of Columbia		5.000		04/01/27		1,161,936
			TOTAL DISTRICT OF COLUMBIA						1,161,936

FLORIDA - 6.9%
	1,000,000		Alachua County Health Facilities Authority		5.000		12/01/31		1,271,734
	250,000		County of Broward FL Airport System Revenue		5.000		10/01/27		309,642
	250,000		County of Broward FL Airport System Revenue		5.000		10/01/28		307,152
	1,500,000		County of Miami-Dade FL Aviation Revenue		4.000		10/01/36		1,773,165
	3,000,000		Escambia County Health Facilities Authority		5.000		08/15/32		3,776,840
	2,000,000	g	Florida Development Finance Corp		7.375		01/01/49		1,965,627
	1,100,000		Greater Orlando Aviation Authority		5.000		10/01/26		1,338,108
	175,000		Hillsborough County Aviation Authority		5.000		10/01/31		214,445
	185,000		Hillsborough County Aviation Authority		5.000		10/01/32		225,158
	190,000		Hillsborough County Aviation Authority		5.000		10/01/33		230,136
	400,000		Hillsborough County Port District		5.000		06/01/29		492,521
	1,000,000		Hillsborough County Port District		5.000		06/01/33		1,210,467
	210,000		Miami-Dade County Educational Facilities Authority		5.000		04/01/28		261,318
	1,375,000		Miami-Dade County Expressway Authority		5.000		07/01/31		1,650,862
	500,000		Pinellas County School Board		4.000		07/01/36		594,605

295

TIAA-CREF FUNDS - 5-15 Year Laddered Tax-Exempt Bond Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	2,180,000	Port St. Lucie Community Redevelopment Agency		5.000	%	01/01/26	$	2,597,220
	500,000	School District of Broward County		5.000		07/01/31		598,902
	75,000	Volusia County Educational Facility Authority		5.000		10/15/25		88,875
	540,000	Volusia County Educational Facility Authority		5.000		10/15/32		655,559
		TOTAL FLORIDA						19,562,336

GEORGIA - 3.2%
	1,250,000	Brookhaven Development Authority		5.000		07/01/27		1,569,021
	1,110,000	Burke County Development Authority		2.250		10/01/32		1,151,210
	1,000,000	Dahlonega Downtown Development Authority		4.000		07/01/37		1,130,019
	1,250,000	Dahlonega Downtown Development Authority		4.000		07/01/38		1,409,469
	1,000,000	Dahlonega Downtown Development Authority		5.000		07/01/39		1,202,822
	250,000	Georgia Municipal Association, Inc		5.000		12/01/30		312,759
	1,000,000	Glynn-Brunswick Memorial Hospital Authority		5.000		08/01/47		1,148,484
	1,020,000	Main Street Natural Gas, Inc		4.000		08/01/49		1,135,194
		TOTAL GEORGIA						9,058,978

GUAM - 0.2%
	200,000	Port Authority of Guam		5.000		07/01/29		240,543
	200,000	Port Authority of Guam		5.000		07/01/30		239,492
		TOTAL GUAM						480,035

HAWAII - 1.4%
	1,275,000	City & County of Honolulu HI		5.000		09/01/27		1,608,700
	1,000,000	State of Hawaii Airports System Revenue		5.000		07/01/29		1,242,327
	1,000,000	State of Hawaii Airports System Revenue		5.000		07/01/41		1,145,395
		TOTAL HAWAII						3,996,422

ILLINOIS - 13.1%
	1,500,000	Chicago Board of Education		5.000		12/01/26		1,765,032
	1,335,000	Chicago Board of Education		4.000		12/01/27		1,514,799
	500,000	Chicago Housing Authority		5.000		01/01/33		594,003
	2,000,000	Chicago Midway International Airport		5.000		01/01/26		2,369,475
	400,000	Chicago O’Hare International Airport		5.000		01/01/22		413,894
	750,000	Chicago O’Hare International Airport		5.000		01/01/25		866,395
	300,000	Chicago O’Hare International Airport		5.000		01/01/28		361,662
	1,000,000	Chicago O’Hare International Airport		5.000		01/01/32		1,145,627
	3,250,000	City of Chicago IL		5.000		01/01/28		3,901,090
	1,500,000	City of Chicago IL Wastewater Transmission Revenue		5.000		01/01/22		1,550,051
	500,000	City of Chicago IL Wastewater Transmission Revenue		5.000		01/01/22		516,684
	1,000,000	City of Chicago IL Wastewater Transmission Revenue		5.000		01/01/25		1,142,854
	1,000,000	City of Chicago IL Wastewater Transmission Revenue		5.000		01/01/26		1,174,595
	1,250,000	City of Chicago IL, GO		5.000		01/01/29		1,521,873
	1,500,000	City of Chicago IL, GO		5.500		01/01/35		1,679,500
	650,000	City of Chicago IL, GO		5.500		01/01/37		725,536
	500,000	City of Chicago IL, GO		5.500		01/01/42		554,561
	1,750,000	County of Cook IL		5.000		11/15/31		2,132,114

296

TIAA-CREF FUNDS - 5-15 Year Laddered Tax-Exempt Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	1,160,000		County of Cook IL Sales Tax Revenue		5.000	%	11/15/36	$	1,494,504
	400,000		Illinois Finance Authority		5.000		05/01/21		401,280
	500,000		Illinois Finance Authority		5.000		11/01/21		512,672
	2,000,000		Metropolitan Water Reclamation District of Greater Chicago		5.000		12/01/30		2,460,519
	1,500,000		Sales Tax Securitization Corp		5.000		01/01/30		1,822,226
	2,000,000		State of Illinois		5.000		06/01/28		2,322,586
	1,500,000		State of Illinois		5.000		03/01/37		1,822,797
	250,000		Village of Broadview IL		5.000		12/01/28		316,899
	200,000		Village of Broadview IL		5.000		12/01/29		252,541
	545,000		Village of Broadview IL		5.000		12/01/30		685,003
	745,000		Village of Broadview IL		5.000		12/01/33		929,717
			TOTAL ILLINOIS						36,950,489

INDIANA - 0.6%
	1,365,000		City of Whiting IN		5.000		12/01/44		1,656,900
			TOTAL INDIANA						1,656,900

IOWA - 0.2%
	475,000		Iowa Higher Education Loan Authority		5.000		10/01/27		595,402
			TOTAL IOWA						595,402

KENTUCKY - 1.9%
	2,000,000		Kentucky Turnpike Authority		5.000		07/01/26		2,423,993
	1,250,000		Paducah Electric Plant Board		5.000		10/01/34		1,515,892
	1,250,000		Paducah Electric Plant Board		5.000		10/01/35		1,512,951
			TOTAL KENTUCKY						5,452,836

LOUISIANA - 1.7%
	480,000		City of New Orleans LA Sewerage Service Revenue		4.000		06/01/36		563,100
	750,000		Louisiana Local Government Environmental Facilities & Community Development Authority		5.000		10/01/27		926,814
	500,000		New Orleans Aviation Board		5.000		10/01/33		627,789
	1,250,000		St. Tammany Parish Hospital Service District No		5.000		07/01/33		1,538,357
	1,000,000		State of Louisiana		5.000		08/01/26		1,224,039
			TOTAL LOUISIANA						4,880,099

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		2,285,133
			TOTAL MARYLAND						2,285,133

297

TIAA-CREF FUNDS - 5-15 Year Laddered Tax-Exempt Bond Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

MASSACHUSETTS - 1.2%
$	500,000	Massachusetts Development Finance Agency		5.000	%	12/01/29	$	604,759
	2,100,000	University of Massachusetts Building Authority		5.000		11/01/29		2,778,073
		TOTAL MASSACHUSETTS						3,382,832

MICHIGAN - 4.1%
	500,000	Charlotte Public School District		4.000		05/01/36		609,973
	2,000,000	Michigan Finance Authority		5.000		04/01/25		2,310,673
	2,000,000	Michigan Finance Authority		5.000		11/15/28		2,446,507
	1,650,000	Michigan Finance Authority		5.000		07/01/44		1,749,861
	1,750,000	State of Michigan Trunk Line Revenue		5.000		11/15/30		2,352,407
	385,000	Wayne County Airport Authority		5.000		12/01/29		486,512
	1,250,000	Wayne County Airport Authority		5.000		12/01/29		1,555,933
		TOTAL MICHIGAN						11,511,866

MINNESOTA - 0.9%
	1,055,000	City of Minneapolis MN		5.000		11/15/33		1,305,880
	70,000	Duluth Economic Development Authority		5.000		02/15/33		84,846
	500,000	Northern Municipal Power Agency		5.000		01/01/26		597,491
	500,000	Northern Municipal Power Agency		5.000		01/01/28		593,134
		TOTAL MINNESOTA						2,581,351

MISSISSIPPI - 1.8%
	1,250,000	Mississippi Development Bank		5.000		03/01/25		1,458,592
	1,045,000	Mississippi Development Bank		5.000		03/01/26		1,257,686
	1,000,000	Mississippi Development Bank		5.000		06/01/27		1,251,961
	1,000,000	Mississippi Development Bank		5.000		03/01/35		1,162,341
		TOTAL MISSISSIPPI						5,130,580

MISSOURI - 2.4%
	1,225,000	City of Kansas City MO		5.000		10/01/26		1,459,530
	1,000,000	City of St. Louis MO Parking Revenue		5.000		12/15/25		1,202,618
	1,000,000	City of St. Louis MO Parking Revenue		5.000		12/15/26		1,196,728
	900,000	Health & Educational Facilities Authority of the State of Missouri		5.000		02/15/28		1,130,602
	1,745,000	St. Louis Municipal Finance Corp		5.000		02/15/26		2,092,719
		TOTAL MISSOURI						7,082,197

NEBRASKA - 0.1%
	250,000	Omaha Airport Authority		5.000		12/15/22		269,621
		TOTAL NEBRASKA						269,621

NEVADA - 0.4%
	1,000,000	Las Vegas Redevelopment Agency		5.000		06/15/26		1,180,379
		TOTAL NEVADA						1,180,379

298

TIAA-CREF FUNDS - 5-15 Year Laddered Tax-Exempt Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

NEW JERSEY - 5.1%
$	350,000	h	Gloucester County Improvement Authority		5.000	%	07/01/34	$	445,598
	1,000,000		New Jersey Economic Development Authority		5.000		06/15/27		1,225,147
	2,500,000		New Jersey Economic Development Authority		5.000		11/01/35		3,060,606
	1,000,000		New Jersey Educational Facilities Authority		5.000		07/01/27		1,202,053
	1,000,000		New Jersey Transportation Trust Fund Authority		5.000		06/15/29		1,175,087
	765,000		New Jersey Transportation Trust Fund Authority		5.000		12/15/33		935,533
	4,000,000		New Jersey Transportation Trust Fund Authority		5.000		06/15/34		4,884,538
	1,000,000		New Jersey Transportation Trust Fund Authority		4.000		06/15/36		1,143,887
	500,000		South Jersey Port Corp		5.000		01/01/48		569,196
			TOTAL NEW JERSEY						14,641,645

NEW YORK - 7.1%
	1,000,000		Brooklyn Arena Local Development Corp		5.000		07/15/26		1,198,287
	1,000,000		Metropolitan Transportation Authority		5.000		11/15/25		1,182,782
	1,250,000		Metropolitan Transportation Authority		5.000		11/15/50		1,498,981
	160,000		New York City Industrial Development Agency		3.000		01/01/46		165,649
	1,750,000		New York State Dormitory Authority		5.000		07/01/33		2,112,838
	1,000,000		New York State Urban Development Corp		5.000		03/15/35		1,286,656
	375,000		New York Transportation Development Corp		5.000		07/01/30		424,990
	1,080,000		New York Transportation Development Corp		4.000		10/01/30		1,251,668
	1,000,000		New York Transportation Development Corp		5.000		08/01/31		1,013,180
	715,000		New York Transportation Development Corp		5.000		01/01/36		846,300
	505,000		New York Transportation Development Corp		5.000		12/01/36		622,827
	635,000		New York Transportation Development Corp		5.000		12/01/36		783,159
	1,500,000		Port Authority of New York & New Jersey		5.000		07/15/31		1,931,957
	1,000,000		Port Authority of New York & New Jersey		4.000		11/01/34		1,166,293
	1,000,000		Port Authority of New York & New Jersey		5.000		11/01/35		1,246,808
	1,625,000		Port Authority of New York & New Jersey		4.000		07/15/36		1,901,843
	1,000,000		Westchester County Local Development Corp		5.000		11/01/25		1,162,143
			TOTAL NEW YORK						19,796,361

NORTH CAROLINA - 2.2%
	1,355,000		County of Duplin NC		5.000		04/01/27		1,618,471
	1,000,000		North Carolina Capital Facilities Finance Agency		5.000		05/01/31		1,310,855
	1,000,000		North Carolina Medical Care Commission		5.000		12/01/26		1,219,744
	210,000		North Carolina Medical Care Commission		4.000		02/01/36		253,264
	255,000		North Carolina Medical Care Commission		3.000		07/01/36		268,805
	200,000		North Carolina Turnpike Authority		5.000		01/01/22		206,552
	1,000,000		The Charlotte-Mecklenburg Hospital Authority		5.000		01/15/26		1,193,240
			TOTAL NORTH CAROLINA						6,070,931

NORTH DAKOTA - 0.4%
	1,000,000		North Dakota Housing Finance Agency		2.400		01/01/26		1,055,877
			TOTAL NORTH DAKOTA						1,055,877

299

TIAA-CREF FUNDS - 5-15 Year Laddered Tax-Exempt Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

OHIO - 2.8%
$	1,000,000		American Municipal Power, Inc		5.000	%	02/15/34	$	1,248,992
	1,000,000		City of Cleveland OH Airport System Revenue		5.000		01/01/27		1,212,301
	200,000		City of Cleveland OH Income Tax Revenue		5.000		10/01/27		249,270
	250,000		City of Cleveland OH Income Tax Revenue		5.000		10/01/28		312,684
	240,000		City of Toledo OH		4.000		12/01/29		285,313
	250,000		City of Toledo OH		4.000		12/01/30		295,426
	200,000		City of Toledo OH		4.000		12/01/31		235,365
	1,500,000		County of Miami OH		5.000		08/01/32		1,869,846
	725,000		County of Montgomery OH		5.000		08/01/36		938,589
	300,000		Lebanon City School District		3.000		12/01/36		329,477
	700,000		Miami University		5.000		09/01/28		896,380
	175,000		State of Ohio		5.000		01/15/35		221,965
			TOTAL OHIO						8,095,608

OKLAHOMA - 0.9%
	750,000		Oklahoma Development Finance Authority		5.000		08/15/28		924,847
	1,500,000		Oklahoma Development Finance Authority		5.250		08/15/48		1,794,295
			TOTAL OKLAHOMA						2,719,142

OREGON - 1.0%
	3,000,000	†,g,q	Oregon State Business Development Commission		6.500		04/01/31		960,000
	1,000,000	†,q	Oregon State Business Development Commission		11.500		04/01/31		320,000
	625,000	†,g	Oregon State Business Development Commission		0.000		04/01/37		199,860
	1,000,000		Tri-County Metropolitan Transportation District of Oregon		5.000		10/01/28		1,254,539
			TOTAL OREGON						2,734,399

PENNSYLVANIA - 3.6%
	1,100,000		Allegheny County Higher Education Building Authority		5.000		03/01/29		1,301,536
	480,000		Borough of Columbia PA		4.000		06/15/38		502,281
	1,000,000		City of Philadelphia PA		5.000		08/01/26		1,218,193
	740,000		Coatesville School District		5.000		08/01/25		875,980
	500,000		Lancaster County Career & Technology Center Authority		4.000		02/01/25		559,061
	500,000		Lancaster County Career & Technology Center Authority		4.000		02/01/26		570,270
	670,000		Lancaster County Career & Technology Center Authority		4.000		02/01/30		777,567
	500,000	h	Pennsylvania Economic Development Financing Authority		5.000		10/15/34		658,725
	415,000		Pittsburgh Water & Sewer Authority		5.000		09/01/27		517,740
	1,500,000		School District of the City of Erie		5.000		04/01/28		1,877,919
	915,000		Township of Northampton PA		4.000		05/15/33		1,042,655
			TOTAL PENNSYLVANIA						9,901,927

300

TIAA-CREF FUNDS - 5-15 Year Laddered Tax-Exempt Bond Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

RHODE ISLAND - 0.4%
$	825,000	Rhode Island Commerce Corp		5.000	%	06/15/27	$	1,015,883
		TOTAL RHODE ISLAND						1,015,883

SOUTH CAROLINA - 0.9%
	265,000	City of Rock Hill SC Combined Utility System Revenue		5.000		01/01/27		325,391
	170,000	City of Rock Hill SC Combined Utility System Revenue		5.000		01/01/28		213,648
	265,000	City of Rock Hill SC Combined Utility System Revenue		5.000		01/01/29		339,743
	500,000	South Carolina Public Service Authority		4.000		12/01/37		589,129
	890,000	South Carolina Public Service Authority		4.000		12/01/40		1,039,440
		TOTAL SOUTH CAROLINA						2,507,351

TENNESSEE - 1.3%
	2,305,000	Metropolitan Nashville Airport Authority		5.000		07/01/35		2,889,010
	755,000	Tennessee Energy Acquisition Corp		4.000		11/01/49		856,558
		TOTAL TENNESSEE						3,745,568

TEXAS - 10.4%
	350,000	Atascosa County Industrial Development Corp		5.000		12/15/28		418,451
	350,000	Atascosa County Industrial Development Corp		5.000		12/15/29		421,737
	400,000	Atascosa County Industrial Development Corp		5.000		12/15/30		485,857
	1,100,000	Central Texas Regional Mobility Authority		5.000		01/01/27		1,343,789
	1,210,000	Central Texas Regional Mobility Authority		5.000		01/01/29		1,500,933
	750,000	Central Texas Regional Mobility Authority		4.000		01/01/36		881,654
	400,000	City of Austin TX Airport System Revenue		5.000		11/15/27		489,103
	900,000	City of Austin TX Airport System Revenue		5.000		11/15/39		1,023,177
	1,000,000	City of El Paso TX		4.000		08/15/35		1,197,448
	2,000,000	City of El Paso TX Airport Revenue		5.000		08/15/28		2,497,708
	1,970,000	City of Houston TX		5.000		03/01/32		2,404,817
	4,000,000	City of Houston TX Combined Utility System Revenue		5.000		11/15/29		5,291,304
	500,000	County of Galveston TX		4.000		02/01/38		565,544
	550,000	Dallas County Utility & Reclamation District		5.000		02/15/26		656,117
	150,000	Harris County Toll Road Authority		4.000		08/15/36		181,790
	1,000,000	North Texas Tollway Authority		5.000		01/01/30		1,246,619
	420,000	Port Freeport TX		5.000		06/01/28		515,249
	825,000	Port Freeport TX		5.000		06/01/29		1,003,981
	865,000	Port Freeport TX		5.000		06/01/30		1,049,757
	935,000	Port Freeport TX		5.000		06/01/32		1,125,945
	2,500,000	Texas Private Activity Bond Surface Transportation Corp		5.000		12/31/35		3,114,835
	1,000,000	University of North Texas		5.000		04/15/27		1,246,629
		TOTAL TEXAS						28,662,444

UTAH - 1.0%
	475,000	Salt Lake City Corp Airport Revenue		5.000		07/01/31		587,945
	1,000,000	Salt Lake City Corp Airport Revenue		5.000		07/01/32		1,229,590
	1,000,000	Salt Lake City Corp Airport Revenue		5.000		07/01/33		1,225,325
		TOTAL UTAH						3,042,860

301

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	$	2,282,945
	2,500,000	g	Virgin Islands Public Finance Authority		5.000		09/01/33		2,766,883
			TOTAL VIRGIN ISLANDS						5,049,828

WASHINGTON - 0.6%
	500,000		Klickitat County Public Utility District No		5.000		12/01/27		630,915
	1,000,000		Pend Oreille County Public Utility District No Box Canyon		5.000		01/01/29		1,157,072
			TOTAL WASHINGTON						1,787,987

WEST VIRGINIA - 1.3%
	1,000,000		West Virginia Higher Education Policy Commission		5.000		07/01/27		1,253,141
	750,000		West Virginia Hospital Finance Authority		5.000		01/01/29		948,861
	1,215,000		West Virginia Hospital Finance Authority		5.000		01/01/30		1,519,391
			TOTAL WEST VIRGINIA						3,721,393

			TOTAL LONG-TERM MUNICIPAL BONDS						273,283,443
			(Cost $260,300,066)

			TOTAL INVESTMENTS - 97.3%						273,283,443
			(Cost $260,300,066)
			OTHER ASSETS & LIABILITIES, NET - 2.7%						7,499,945
			NET ASSETS - 100.0%					$	280,783,388



		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 3/31/2021, the aggregate value of these securities is $9,700,571 or 3.5% of net assets.
h		All or a portion of these securities were purchased on a delayed delivery basis.
q		In default

302

TIAA-CREF FUNDS - Green Bond Fund

TIAA-CREF FUNDS

GREEN BOND FUND

SCHEDULE OF INVESTMENTS

March 31, 2021

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

BANK LOAN OBLIGATIONS - 1.0%

UTILITIES - 1.0%
$	498,750	i	Exgen Renewables IV LLC	LIBOR 3 M + 2.750%		3.750	%	12/15/27	$	498,960
			TOTAL UTILITIES							498,960

			TOTAL BANK LOAN OBLIGATIONS							498,960
			(Cost $496,338)

BONDS - 93.6%

CORPORATE BONDS - 44.9%

AUTOMOBILES & COMPONENTS - 0.7%
	350,000	g	Hyundai Capital Services, Inc			1.250		02/08/26		341,329
			TOTAL AUTOMOBILES & COMPONENTS							341,329

BANKS - 6.1%
	250,000		Bank of America Corp			0.981		09/25/25		249,350
	475,000		Bank of America Corp			2.456		10/22/25		497,890
	500,000		Citigroup, Inc			1.678		05/15/24		510,185
	250,000		Citigroup, Inc			0.776		10/30/24		249,830
	250,000		First Abu Dhabi Bank PJSC			3.000		03/30/22		255,905
	450,000	g	ING Groep NV			1.400		07/01/26		447,678
	250,000	g	Itau Unibanco Holding S.A.			3.875		04/15/31		242,500
	250,000		Royal Bank of Scotland Group plc			2.359		05/22/24		257,932
	200,000	g	Shinhan Financial Group Co Ltd			3.340		02/05/30		208,804
	200,000	g	Standard Chartered plc			1.214		03/23/25		200,341
			TOTAL BANKS							3,120,415

CAPITAL GOODS - 1.2%
	250,000		Johnson Controls International plc			1.750		09/15/30		234,470
	225,000		Xylem, Inc			1.950		01/30/28		224,626
	150,000		Xylem, Inc			2.250		01/30/31		147,181
			TOTAL CAPITAL GOODS							606,277

CONSUMER SERVICES - 2.0%
	250,000		Conservation Fund			3.474		12/15/29		259,350
	260,000	i	Nature Conservancy	LIBOR 3 M + 1.080%		1.285		02/01/24		260,801
	500,000		Nature Conservancy			1.511		07/01/29		472,928
			TOTAL CONSUMER SERVICES							993,079

DIVERSIFIED FINANCIALS - 0.3%
	125,000	g	Starwood Property Trust, Inc			5.500		11/01/23		130,625
			TOTAL DIVERSIFIED FINANCIALS							130,625

303

TIAA-CREF FUNDS - Green Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

FOOD & STAPLES RETAILING - 0.5%
$	250,000		SYSCO Corp		2.400	%	02/15/30	$	248,234
			TOTAL FOOD & STAPLES RETAILING						248,234

FOOD, BEVERAGE & TOBACCO - 1.0%
	250,000	g	NBM US Holdings, Inc		6.625		08/06/29		274,951
	250,000		PepsiCo, Inc		2.875		10/15/49		241,953
			TOTAL FOOD, BEVERAGE & TOBACCO						516,904

HEALTH CARE EQUIPMENT & SERVICES - 1.4%
	650,000		Kaiser Foundation Hospitals		3.150		05/01/27		709,210
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						709,210

MATERIALS - 2.8%
	250,000	g	Celulosa Arauco y Constitucion S.A.		5.150		01/29/50		278,811
	525,000	g	Inversiones CMPC S.A.		4.375		04/04/27		577,348
	500,000	g	LG Chem Ltd		3.625		04/15/29		541,212
			TOTAL MATERIALS						1,397,371

MEDIA & ENTERTAINMENT - 1.9%
	250,000	g	Continuum Energy Levanter Pte Ltd		4.500		02/09/27		255,625
	500,000	g	Liberty Utilities Finance GP		2.050		09/15/30		468,463
	260,000		Smithsonian Institution		2.645		09/01/39		248,177
			TOTAL MEDIA & ENTERTAINMENT						972,265

REAL ESTATE - 3.5%
	250,000		Equinix, Inc		1.000		09/15/25		245,485
	300,000		Federal Realty Investment Trust		1.250		02/15/26		296,226
	275,000	g	HAT Holdings I LLC		5.250		07/15/24		283,938
	250,000	g	HAT Holdings I LLC		6.000		04/15/25		263,750
	250,000	g	HAT Holdings I LLC		3.750		09/15/30		240,625
	250,000		Kilroy Realty LP		2.500		11/15/32		234,783
	250,000		UDR, Inc		1.900		03/15/33		225,400
			TOTAL REAL ESTATE						1,790,207

SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 1.0%
	250,000	g	NXP BV		3.400		05/01/30		263,988
	275,000	g	SK Hynix, Inc		2.375		01/19/31		260,039
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT						524,027

SOFTWARE & SERVICES - 0.6%
	300,000		Mastercard, Inc		1.900		03/15/31		294,879
			TOTAL SOFTWARE & SERVICES						294,879

TECHNOLOGY HARDWARE & EQUIPMENT - 1.1%
	500,000		Apple, Inc		3.000		06/20/27		542,495
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						542,495

UTILITIES - 20.8%
	300,000	g	AES Corp		1.375		01/15/26		292,393
	350,000	g	AES Corp		2.450		01/15/31		334,629
	250,000	g	AES Gener S.A.		6.350		10/07/79		267,812
	600,000		Avangrid, Inc		3.200		04/15/25		642,389
	500,000	g	Azure Power Energy Ltd		5.500		11/03/22		510,002

304

TIAA-CREF FUNDS - Green Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	300,000	g	Clearway Energy Operating LLC		4.750	%	03/15/28	$	312,117
	225,000	g	Clearway Energy Operating LLC		3.750		02/15/31		215,860
	215,000	g	Consorcio Transmantaro SA		4.700		04/16/34		242,683
	500,000		Duke Energy Florida LLC		2.500		12/01/29		509,892
	250,000	g	EDP Finance BV		1.710		01/24/28		240,983
	250,000	g	Electricite de France S.A.		3.625		10/13/25		271,616
	500,000		Georgia Power Co		3.250		04/01/26		540,402
	250,000	g	Hanwha Energy USA Holdings Corp		2.375		07/30/22		255,791
	250,000		Interstate Power & Light Co		3.500		09/30/49		246,123
	250,000		MidAmerican Energy Co		3.100		05/01/27		270,940
	600,000		MidAmerican Energy Co		3.650		08/01/48		634,494
	550,000	g	Niagara Mohawk Power Corp		1.960		06/27/30		525,653
	250,000		NorthWestern Corp		4.176		11/15/44		276,469
	100,000	g	Pattern Energy Operations LP		4.500		08/15/28		101,625
	529,000		Public Service Co of Colorado		3.700		06/15/28		585,148
	200,000		Public Service Co of Colorado		4.100		06/15/48		226,489
	250,000		Public Service Co of Colorado		3.200		03/01/50		250,527
	229,000		Southern Power Co		2.500		12/15/21		232,008
	500,000		Southwestern Public Service Co		3.150		05/01/50		486,792
	226,750	g	Star Energy Geothermal Wayang Windu Ltd		6.750		04/24/33		255,094
	357,710	g	Topaz Solar Farms LLC		4.875		09/30/39		388,706
	275,000		Tucson Electric Power Co		1.500		08/01/30		254,699
	200,000	g	UEP Penonome II S.A.		6.500		10/01/38		201,502
	250,000		Union Electric Co		2.625		03/15/51		221,136
	750,000		Westar Energy, Inc		2.550		07/01/26		785,843
			TOTAL UTILITIES						10,579,817

			TOTAL CORPORATE BONDS						22,767,134
			(Cost $22,371,567)

GOVERNMENT BONDS - 27.9%

AGENCY SECURITIES - 2.9%
	245,058		Overseas Private Investment Corp (OPIC)		1.790		10/15/29		257,745
	245,058		OPIC		2.360		10/15/29		264,088
	245,058		United States International Development Finance Corp		1.050		10/15/29		249,511
	500,000		United States International Development Finance Corp		1.610		07/15/38		482,535
	250,000		- -		1.630		07/15/38		241,766
			TOTAL AGENCY SECURITIES						1,495,645

FOREIGN GOVERNMENT BONDS - 14.4%
	625,000		African Development Bank		3.000		12/06/21		636,941
	500,000		Asian Development Bank		1.875		08/10/22		511,353
	579,000		Asian Development Bank		1.750		08/14/26		598,871
	750,000		Asian Development Bank		3.125		09/26/28		831,078
	250,000		Chile Government International Bond		3.500		01/25/50		254,237
	200,000	g	Egypt Government International Bond		5.250		10/06/25		206,518
	250,000		European Bank for Reconstruction & Development		1.625		09/27/24		259,001
	250,000		European Investment Bank		0.625		10/21/27		238,160
	250,000		European Investment Bank		1.625		10/09/29		248,914
	1,500,000		European Investment Bank		0.750		09/23/30		1,361,676
	500,000		International Bank for Reconstruction & Development		2.125		03/03/25		527,541
	500,000		International Bank for Reconstruction & Development		3.125		11/20/25		549,475
	235,000	g	Korea Electric Power Corp		1.125		06/15/25		233,328

305

TIAA-CREF FUNDS - Green Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	250,000		North American Development Bank			2.400	%	10/26/22	$	256,841
	300,000	g	Perusahaan Penerbit SBSN Indonesia III			3.750		03/01/23		315,924
	250,000	g	Perusahaan Penerbit SBSN Indonesia III			3.900		08/20/24		270,888
			TOTAL FOREIGN GOVERNMENT BONDS							7,300,746

MUNICIPAL BONDS - 10.6%
	180,000	g	California Municipal Finance Authority			6.375		11/15/48		180,369
	300,000		City of Cleveland OH Income Tax Revenue			3.072		10/01/41		282,732
	600,000		Grant County Public Utility District No 2			1.544		01/01/23		613,172
	250,000		Grant County Public Utility District No 2			3.210		01/01/40		261,418
	235,000		Great Lakes Water Authority Sewage Disposal System Revenue			3.056		07/01/39		239,248
	100,000		Klickitat County Public Utilities			3.688		12/01/38		102,843
	500,000		Metropolitan Transportation Authority			5.175		11/15/49		619,346
	210,000		Mount Shasta Public Financing Authority			3.000		08/01/35		227,389
	220,000		Mount Shasta Public Financing Authority			2.625		08/01/36		229,355
	120,000		Mount Shasta Public Financing Authority			2.625		08/01/37		124,682
	160,000		Mount Shasta Public Financing Authority			2.750		08/01/38		166,656
	165,000		Mount Shasta Public Financing Authority			2.750		08/01/39		171,403
	100,000		New York State Energy Research & Development Authority			4.577		04/01/35		106,776
	105,000		New York State Environmental Facilities Corp			2.506		11/15/22		107,830
	125,000		New York Transportation Development Corp			1.360		12/01/21		125,324
	500,000	g	Ohio Air Quality Development Authority			4.500		01/15/48		555,058
	250,000	g	Pennsylvania Economic Development Financing Authority			10.000		12/01/29		254,533
	500,000	i	State of California	LIBOR 1 M + 0.780%		0.899		04/01/47		500,451
	500,000	g	Warm Springs Reservation Confederated Tribe			2.800		11/01/22		508,417
			TOTAL MUNICIPAL BONDS							5,377,002

			TOTAL GOVERNMENT BONDS							14,173,393
			(Cost $13,896,045)

STRUCTURED ASSETS - 20.8%

ASSET BACKED - 13.3%
	250,000	g,i	BFLD Trust Series - 2020 EYP (Class C)	LIBOR 1 M + 2.100%		2.206		10/15/35		252,500
	200,226	g	HERO Funding Trust Series - 2016 1A (Class A)			4.050		09/20/41		209,428
	314,428	g	HERO Funding Trust Series - 2016 3A (Class A2)			3.910		09/20/42		324,598
	180,308	g	HERO Funding Trust Series - 2016 4A (Class A2)			4.290		09/20/47		187,794
	81,801	g	HERO Funding Trust Series - 2017 1A (Class A2)			4.460		09/20/47		86,128
	194,189	g	HERO Funding Trust Series - 2017 3A (Class A1)			3.190		09/20/48		202,977
	391,291	g	HERO Funding Trust Series - 2017 3A (Class A2)			3.950		09/20/48		415,054
	212,947	g	HERO Funding Trust Series - 2020 1A (Class A)			2.720		09/20/57		215,531
	235,740	g	Loanpal Solar Loan Ltd Series - 2021 1GS (Class A)			2.290		01/20/48		235,749

306

TIAA-CREF FUNDS - Green Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	207,432	g	Mosaic Solar Loan Trust Series - 2020 1A (Class A)			2.100	%	04/20/46	$	209,417
	231,136	g	Mosaic Solar Loan Trust Series - 2020 2A (Class A)			1.440		08/20/46		225,157
	250,000	g	Mosaic Solar Loan Trust Series - 2021 1A (Class B)			2.050		12/20/46		246,323
	250,000	†,g	Renew Series - 2021 1 (Class A)			2.060		11/20/56		249,962
	77,450	g	SolarCity LMC Series - 2016 A (Class A)			4.800		09/20/48		80,002
	236,852	g	Sunrun Athena Issuer LLC Series - 2018 1 (Class A)			5.310		04/30/49		259,778
	484,198	g	Sunrun Atlas Issuer LLC Series - 2019 2 (Class A)			3.610		02/01/55		511,051
	429,082	g	Sunrun Callisto Issuer LLC Series - 2019 1A (Class A)			3.980		06/30/54		457,680
	250,000	g	Sunrun Vulcan Issuer LLC Series - 2021 1A (Class A)			2.460		01/30/52		247,329
	159,204	g	Tesla Auto Lease Trust Series - 2018 B (Class A)			3.710		08/20/21		159,551
	131,868	g	Tesla Auto Lease Trust Series - 2019 A (Class A2)			2.130		04/20/22		132,720
	250,000	g	Tesla Auto Lease Trust Series - 2019 A (Class A3)			2.160		10/20/22		254,445
	250,000	g	Tesla Auto Lease Trust Series - 2019 A (Class A4)			2.200		11/21/22		255,984
	250,000	g	Tesla Auto Lease Trust Series - 2020 A (Class A4)			0.780		12/20/23		251,589
	250,000	g	Tesla Auto Lease Trust Series - 2021 A (Class A3)			0.560		03/20/25		249,826
	585,240	g	Vivint Colar Financing V LLC Series - 2018 1A (Class B)			7.370		04/30/48		623,071
	243,831	g	Vivint Solar Financing VII LLC Series - 2020 1A (Class A)			2.210		07/31/51		239,965
			TOTAL ASSET BACKED							6,783,609

OTHER MORTGAGE BACKED - 7.5%
	250,000	g,i	Alen Mortgage Trust Series - 2021 ACEN (Class B)	LIBOR 1 M + 1.650%		1.756		04/15/34		250,075
	100,000	g	BBCMS Trust Series - 2015 SRCH (Class B)			4.498		08/10/35		111,914
	500,000	g	COMM Mortgage Trust Series - 2015 3BP (Class A)			3.178		02/10/35		530,755
	500,000	g	CPT Mortgage Trust Series - 2019 CPT (Class A)			2.865		11/13/39		517,656
	250,000		Federal National Mortgage Association (FNMA) Series - 2021 M1G (Class A2)			1.561		11/25/30		239,361
	172,968	g	JP Morgan Chase Commercial Mortgage Securities Trust Series - 2012 HSBC (Class A)			3.093		07/05/32		177,094
	500,000	g,i	Manhattan West Series - 2020 1MW (Class B)			2.335		09/10/39		501,208
	250,000	g,i	Morgan Stanley Capital I Trust Series - 2020 CNP (Class C)			2.428		04/05/42		233,599

307

TIAA-CREF FUNDS - Green Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	500,000	g,i	Natixis Commercial Mortgage Securities Trust Series - 2019 MILE (Class D)	LIBOR 1 M + 2.750%		2.856	%	07/15/36	$	499,999
	250,000	g,i	Natixis Commercial Mortgage Securities Trust Series - 2019 MILE (Class F)	LIBOR 1 M + 4.250%		4.356		07/15/36		246,089
	500,000	g	One Bryant Park Trust Series - 2019 OBP (Class A)			2.516		09/15/54		504,698
			TOTAL OTHER MORTGAGE BACKED							3,812,448

			TOTAL STRUCTURED ASSETS							10,596,057
			(Cost $10,386,374)

			TOTAL BONDS							47,536,584
			(Cost $46,653,986)

SHARES			COMPANY

PREFERRED STOCKS - 2.8%

REAL ESTATE - 1.0%
	10,000		Brookfield Property Partners LP							248,300
	10,000		Brookfield Property Partners LP							257,100
			TOTAL REAL ESTATE							505,400

UTILITIES - 1.8%
	20,000		Brookfield Infrastructure Partners LP							511,600
	16,000		Brookfield Renewable Partners LP							417,120
			TOTAL UTILITIES							928,720

			TOTAL PREFERRED STOCKS							1,434,120
			(Cost $1,400,000)

SHORT-TERM INVESTMENTS - 2.6%

GOVERNMENT AGENCY DEBT - 2.6%
	1,312,000		Federal Agricultural Mortgage Corp (FAMC)			0.010		04/01/21		1,312,000
			TOTAL GOVERNMENT AGENCY DEBT							1,312,000

			TOTAL SHORT-TERM INVESTMENTS							1,312,000
			(Cost $1,312,000)

			TOTAL INVESTMENTS - 100.0%							50,781,664
			(Cost $49,862,324)
			OTHER ASSETS & LIABILITIES, NET - 0.0%							20,691
			NET ASSETS - 100.0%						$	50,802,355



		Abbreviation(s):
LIBOR		London Interbank Offered Rate
M		Month

*		Non-income producing
†		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 3/31/2021, the aggregate value of these securities is $22,578,224 or 44.4% 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.

308

TIAA-CREF FUNDS - High-Yield Fund

TIAA-CREF FUNDS

HIGH-YIELD FUND

SCHEDULE OF INVESTMENTS

March 31, 2021

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

BANK LOAN OBLIGATIONS - 10.0%

AUTOMOBILES & COMPONENTS - 0.3%
$	9,284,833	i	Gates Global LLC	LIBOR 1 M + 2.750%		3.500	%	03/31/27	$	9,253,915
	450,000	i	Truck Hero, Inc	LIBOR 1 M + 3.750%		4.500		01/31/28		448,564
			TOTAL AUTOMOBILES & COMPONENTS							9,702,479

CAPITAL GOODS - 0.9%
	2,537,023	i	Blount International, Inc	LIBOR 1 M + 3.750%		4.750		04/12/23		2,540,194
	2,787,593	h,i	DiversiTech Holdings, Inc	LIBOR 3 M + 3.000%		4.250		06/01/24		2,773,655
	1,400,000		DiversiTech Holdings, Inc	LIBOR 1 and 3 M + 3.250%		4.111		12/03/24		1,393,000
	6,946,154	i	Engineered Machinery Holdings, Inc	LIBOR 3 M + 3.000%		4.000		07/19/24		6,912,882
	4,365,270	i	Titan Acquisition Ltd	LIBOR 3 M + 3.000%		3.267		03/28/25		4,270,675
	7,121,144	i	Vertiv Group Corp	LIBOR 1 M + 3.000%		2.869		03/02/27		7,060,329
	9,177,000	i	White Cap Buyer LLC	LIBOR 3 M + 4.000%		4.500		10/19/27		9,154,058
			TOTAL CAPITAL GOODS							34,104,793

COMMERCIAL & PROFESSIONAL SERVICES - 1.2%
	1,488,750	i	Amentum Government Services Holdings LLC	LIBOR 1 M + 3.500%		3.609		01/29/27		1,472,627
	12,727,565	i	GFL Environmental, Inc	LIBOR 1 M + 3.000%		3.500		05/30/25		12,727,564
	14,625,000	h,i	Spin Holdco, Inc	LIBOR 3 M + 4.000%		4.750		03/01/28		14,489,134
	15,953,409	i	West Corp	LIBOR 3 M + 4.000%		5.000		10/10/24		15,425,989
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES							44,115,314

CONSUMER SERVICES - 0.3%
	4,979,000	h,i	ClubCorp Holdings, Inc	LIBOR 3 M + 2.750%		2.953		09/18/24		4,669,356
	7,500,000	i	IRB Holding Corp	LIBOR 3 M + 3.250%		4.250		12/15/27		7,464,825
			TOTAL CONSUMER SERVICES							12,134,181

ENERGY - 0.1%
	4,186,875	i	ChampionX Holding, Inc	LIBOR 3 M + 5.000%		6.000		06/03/27		4,260,145
			TOTAL ENERGY							4,260,145

FOOD, BEVERAGE & TOBACCO - 0.4%
	8,109,250	i	Chobani LLC	LIBOR 1 M + 3.500%		4.500		10/20/27		8,097,086
	6,667,000	h,i	Triton Water Holdings, Inc	LIBOR 3 M + 3.500%		4.000		03/31/28		6,635,732
			TOTAL FOOD, BEVERAGE & TOBACCO							14,732,818

HEALTH CARE EQUIPMENT & SERVICES - 1.8%
	4,962,025	i	Agiliti Health, Inc	LIBOR 1 M + 2.750%		2.875		01/05/26		4,875,190
	1,800,000	i	AHP Health Partners, Inc	LIBOR 1 M + 3.750%		4.750		06/30/25		1,800,756
	3,920,375	i	Da Vinci Purchaser Corp	LIBOR 3 M + 4.000%		5.000		01/08/27		3,919,160
	6,627,792	i	MMM Holdings LLC	LIBOR 3 M + 5.750%		6.750		12/24/26		6,627,792
	16,138,407	i	RegionalCare Hospital Partners Holdings, Inc	LIBOR 1 M + 3.750%		3.850		11/16/25		16,092,251
	19,773,001	i	Surgery Center Holdings, Inc	LIBOR 1 M + 3.250%		4.250		09/03/24		19,559,848
	14,923,469	i	Verscend Holding Corp	LIBOR 1 M + 4.500%		4.609		08/27/25		14,906,606
			TOTAL HEALTH CARE EQUIPMENT & SERVICES							67,781,603

309

TIAA-CREF FUNDS - High-Yield Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

HOUSEHOLD & PERSONAL PRODUCTS - 0.3%
$	7,500,000	i	Kronos Acquisition Holdings, Inc	LIBOR 3 M + 3.750%		4.250	%	12/22/26	$	7,384,800
	2,942,625	i	Weber-Stephen Products LLC	LIBOR 1 M + 3.250%		4.000		10/29/27		2,938,947
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS							10,323,747

INSURANCE - 0.6%
	12,140,098	i	Acrisure LLC	LIBOR 3 M + 3.500%		3.703		02/15/27		11,978,271
	4,512,986	i	Alliant Holdings Intermediate LLC	LIBOR 1 M + 3.750%		4.250		11/05/27		4,499,266
	3,341,250	i	HUB International Ltd	LIBOR 3 M + 3.250%		4.000		04/25/25		3,336,505
	4,702,500	i	USI, Inc	LIBOR 3 M + 3.250%		3.453		12/02/26		4,652,936
			TOTAL INSURANCE							24,466,978

MEDIA & ENTERTAINMENT - 1.1%
	10,000,000	i	Arches Buyer, Inc	LIBOR 1 M + 3.250%		3.750		12/06/27		9,920,000
	1,022,438	i	Cablevision Lightpath LLC	LIBOR 1 M + 3.250%		3.750		11/30/27		1,019,882
	14,911,712	i	Clear Channel Outdoor Holdings, Inc	LIBOR 3 M + 3.500%		3.712		08/21/26		14,302,866
	14,900,000	h,i	Rackspace Technology Global, Inc	LIBOR 3 M + 2.750%		3.500		02/03/28		14,755,619
	2,718,188	i	Radiate Holdco LLC	LIBOR 1 M + 3.500%		4.250		09/25/26		2,715,415
			TOTAL MEDIA & ENTERTAINMENT							42,713,782

PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.6%
	8,974,500	i	Alphabet Holding Co, Inc	LIBOR 1 M + 3.500%		3.609		09/26/24		8,897,409
	6,309,188	i	Avantor, Inc	LIBOR 1 M + 2.250%		3.250		10/29/27		6,306,033
	8,756,683	i	Bausch Health Americas, Inc	LIBOR 1 M + 3.000%		3.109		06/02/25		8,723,496
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES							23,926,938

REAL ESTATE - 0.1%
	4,397,766	i	Cushman & Wakefield plc	LIBOR 1 M + 2.750%		2.865		08/21/25		4,303,390
			TOTAL REAL ESTATE							4,303,390

RETAILING - 0.3%
	9,702,188	i	Staples, Inc	LIBOR 3 M + 5.000%		5.205		04/16/26		9,451,580
			TOTAL RETAILING							9,451,580

SOFTWARE & SERVICES - 1.3%
	13,962,529	i	Blackboard, Inc	LIBOR 3 M + 6.000%		7.000		06/28/24		13,903,188
	9,949,875	i	BY Crown Parent LLC	LIBOR 1 M + 3.000%		4.000		01/31/26		9,940,522
	4,688,250	i	Camelot US Acquisition	LIBOR 1 M + 3.000%		4.000		10/31/26		4,683,562
	11,910,150	i	Dun & Bradstreet Corp	LIBOR 1 M + 3.250%		3.359		02/06/26		11,835,711
	10,000,000	i	Greeneden US Holdings II LLC	LIBOR 1 M + 4.000%		4.750		12/01/27		9,992,500
			TOTAL SOFTWARE & SERVICES							50,355,483

TELECOMMUNICATION SERVICES - 0.7%
	9,950,000	i	GCI LLC	LIBOR 1 M + 2.750%		3.500		10/15/25		9,891,991
	14,974,359	h,i	Syniverse Holdings, Inc	LIBOR 3 M + 5.000%		6.000		03/09/23		14,751,391
			TOTAL TELECOMMUNICATION SERVICES							24,643,382

			TOTAL BANK LOAN OBLIGATIONS							377,016,613
			(Cost $375,222,750)

310

TIAA-CREF FUNDS - High-Yield Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

BONDS - 84.8%

CORPORATE BONDS - 84.8%

AUTOMOBILES & COMPONENTS - 4.5%
$	14,950,000	g	Adient Global Holdings Ltd		4.875	%	08/15/26	$	15,452,021
	2,737,000	g	Adient US LLC		9.000		04/15/25		3,038,070
	600,000	g	Allison Transmission, Inc		4.750		10/01/27		637,680
	2,721,000	g	Allison Transmission, Inc		3.750		01/30/31		2,635,969
	5,525,000	g	Clarios Global LP		6.750		05/15/25		5,910,092
	5,700,000	g	Dana Financing Luxembourg SARL		5.750		04/15/25		5,863,875
	7,500,000	g	Dana Financing Luxembourg SARL		6.500		06/01/26		7,781,250
	6,695,000		Dana, Inc		5.375		11/15/27		7,029,750
	2,450,000		Dana, Inc		5.625		06/15/28		2,621,500
	9,900,000		Ford Motor Co		8.500		04/21/23		11,038,500
	10,150,000		Ford Motor Co		9.000		04/22/25		12,292,817
	5,825,000		Ford Motor Co		9.625		04/22/30		8,129,020
	22,075,000	g	Gates Global LLC		6.250		01/15/26		23,123,563
	15,000,000		Goodyear Tire & Rubber Co		9.500		05/31/25		16,827,000
	15,000,000		Goodyear Tire & Rubber Co		5.250		04/30/31		15,000,000
	1,100,000	g,o	IHO Verwaltungs GmbH		4.750		09/15/26		1,129,906
	19,800,000	g,o	IHO Verwaltungs GmbH		6.375		05/15/29		21,631,500
	10,650,000	g	Panther BF Aggregator 2 LP		8.500		05/15/27		11,462,063
			TOTAL AUTOMOBILES & COMPONENTS						171,604,576

CAPITAL GOODS - 2.8%
	2,000,000	g	American Builders & Contractors Supply Co, Inc		4.000		01/15/28		2,000,000
	10,950,000	g	Beacon Escrow Corp		4.875		11/01/25		11,196,375
	3,574,000	g	Beacon Roofing Supply, Inc		4.500		11/15/26		3,672,285
	1,967,000	g	Builders FirstSource, Inc		6.750		06/01/27		2,116,984
	18,519,000	g	H&E Equipment Services, Inc		3.875		12/15/28		18,009,727
	3,337,000		Howmet Aerospace, Inc		6.875		05/01/25		3,866,749
	2,025,000	g	Masonite International Corp		5.375		02/01/28		2,149,031
	6,300,000	g	PowerTeam Services LLC		9.033		12/04/25		6,945,750
	8,950,000	g	Rolls-Royce plc		5.750		10/15/27		9,523,247
	4,150,000	g	SPX FLOW, Inc		5.875		08/15/26		4,321,188
	12,250,000		TransDigm UK Holdings plc		6.875		05/15/26		12,893,125
	2,375,000		TransDigm, Inc		6.500		05/15/25		2,419,531
	2,000,000	g	TransDigm, Inc		8.000		12/15/25		2,178,000
	4,000,000		TransDigm, Inc		7.500		03/15/27		4,260,000
	10,780,000	g	WESCO Distribution, Inc		7.125		06/15/25		11,787,930
	7,560,000	g	WESCO Distribution, Inc		7.250		06/15/28		8,439,946
			TOTAL CAPITAL GOODS						105,779,868

COMMERCIAL & PROFESSIONAL SERVICES - 4.5%
	12,350,000	g	ADT Corp		4.875		07/15/32		12,550,687
	2,250,000		AECOM		5.875		10/15/24		2,527,987
	13,500,000		AECOM		5.125		03/15/27		14,689,687
	6,100,000	g	Allied Universal Holdco LLC		6.625		07/15/26		6,468,928
	6,785,000	g	ASGN, Inc		4.625		05/15/28		6,999,949
	1,515,000	g	GFL Environmental, Inc		4.250		06/01/25		1,560,450
	7,850,000	g	GFL Environmental, Inc		3.750		08/01/25		7,967,750
	1,960,000	g	GFL Environmental, Inc		5.125		12/15/26		2,065,350
	1,050,000	g	GFL Environmental, Inc		8.500		05/01/27		1,156,312
	6,559,000	g	GFL Environmental, Inc		3.500		09/01/28		6,362,230

311

TIAA-CREF FUNDS - High-Yield Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	7,475,000	g	KAR Auction Services, Inc		5.125	%	06/01/25	$	7,609,924
	1,417,000	h,g	NESCO Holdings II, Inc		5.500		04/15/29		1,453,559
	10,700,000	g	Prime Security Services Borrower LLC		5.250		04/15/24		11,413,155
	25,075,000	g	Prime Security Services Borrower LLC		5.750		04/15/26		27,132,404
	5,325,000	g	Prime Security Services Borrower LLC		3.375		08/31/27		5,165,250
	18,100,000	g	Prime Security Services Borrower LLC		6.250		01/15/28		18,841,919
	7,900,000		RR Donnelley & Sons Co		6.500		11/15/23		8,374,000
	6,750,000	g	Science Applications International Corp		4.875		04/01/28		6,977,813
	8,225,000	g	Stericycle, Inc		5.375		07/15/24		8,492,312
	4,527,000	g	Stericycle, Inc		3.875		01/15/29		4,470,413
	1,175,000		United Rentals North America, Inc		5.875		09/15/26		1,229,344
	4,500,000		United Rentals North America, Inc		5.500		05/15/27		4,799,250
	4,200,000		United Rentals North America, Inc		4.875		01/15/28		4,424,154
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES						172,732,827

CONSUMER DURABLES & APPAREL - 1.4%
	11,700,000	g	Academy Ltd		6.000		11/15/27		12,314,250
	2,125,000	g	Hanesbrands, Inc		4.625		05/15/24		2,254,423
	1,000,000	g	Hanesbrands, Inc		4.875		05/15/26		1,072,500
	1,900,000		KB Home		7.625		05/15/23		2,059,125
	10,085,000		KB Home		6.875		06/15/27		11,813,468
	8,000,000		M/I Homes, Inc		4.950		02/01/28		8,285,000
	8,875,000	g	Mattamy Group Corp		5.250		12/15/27		9,285,469
	3,472,000	g	Mattel, Inc		6.750		12/31/25		3,650,634
	2,075,000	g	Mattel, Inc		3.375		04/01/26		2,142,313
			TOTAL CONSUMER DURABLES & APPAREL						52,877,182

CONSUMER SERVICES - 5.3%
	1,769,000	g	1011778 BC ULC / New Red Finance, Inc		4.250		05/15/24		1,789,750
	2,350,000	g	1011778 BC ULC / New Red Finance, Inc		5.750		04/15/25		2,496,875
	4,500,000	g	Boyd Gaming Corp		8.625		06/01/25		5,004,000
	8,950,000	g	Carnival Corp		7.625		03/01/26		9,614,985
	23,825,000	g	Carnival Corp		5.750		03/01/27		24,450,406
	5,163,000	g	Cedar Fair LP		5.500		05/01/25		5,434,264
	5,675,000	g	Churchill Downs, Inc		4.750		01/15/28		5,869,284
	11,000,000	g	Cott Holdings, Inc		5.500		04/01/25		11,305,800
	13,400,000	g	frontdoor, Inc		6.750		08/15/26		14,254,250
	5,001,000	g	Hilton Domestic Operating Co, Inc		3.625		02/15/32		4,853,971
	10,270,000	g	International Game Technology plc		6.500		02/15/25		11,271,325
	3,880,000	g	International Game Technology plc		4.125		04/15/26		3,987,010
	4,650,000	g	International Game Technology plc		6.250		01/15/27		5,151,944
	2,025,000	g	International Game Technology plc		5.250		01/15/29		2,112,075
	16,300,000	g	Life Time, Inc		5.750		01/15/26		16,769,440
	16,425,000	g	Live Nation Entertainment, Inc		6.500		05/15/27		18,231,750
	11,250,000		MGM Resorts International		6.000		03/15/23		12,051,563
	10,000,000	g	Penn National Gaming, Inc		5.625		01/15/27		10,360,300
	11,625,000	g	Scientific Games International, Inc		8.625		07/01/25		12,638,700
	9,650,000	g	Scientific Games International, Inc		5.000		10/15/25		9,994,505
	13,000,000	g	Wynn Las Vegas LLC		5.500		03/01/25		13,734,500
			TOTAL CONSUMER SERVICES						201,376,697

DIVERSIFIED FINANCIALS - 5.2%
	4,447,000	g	Compass Group Diversified Holdings LLC		5.250		04/15/29		4,662,368
	5,000,000		Ford Motor Credit Co LLC		4.250		09/20/22		5,172,000

312

TIAA-CREF FUNDS - High-Yield Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	25,400,000		Ford Motor Credit Co LLC		4.063	%	11/01/24	$	26,645,870
	10,000,000		Ford Motor Credit Co LLC		3.375		11/13/25		10,170,000
	5,000,000		Ford Motor Credit Co LLC		5.113		05/03/29		5,367,250
	8,525,000		Ford Motor Credit Co LLC		4.000		11/13/30		8,456,715
	4,775,000	g	Freedom Mortgage Corp		7.625		05/01/26		5,001,812
	4,500,000		Icahn Enterprises LP		6.750		02/01/24		4,590,000
	10,000,000		Icahn Enterprises LP		4.750		09/15/24		10,384,350
	9,700,000		Icahn Enterprises LP		5.250		05/15/27		10,015,250
	15,375,000	g	Icahn Enterprises LP		4.375		02/01/29		15,024,604
	10,200,000	g	Jefferies Finance LLC		6.250		06/03/26		10,710,000
	4,600,000	g	LPL Holdings, Inc		4.625		11/15/27		4,772,500
	8,000,000		Navient Corp		6.125		03/25/24		8,470,000
	5,000,000		Navient Corp		6.750		06/25/25		5,428,750
	10,000,000		Navient Corp		4.875		03/15/28		9,787,500
	10,650,000		OneMain Finance Corp		4.000		09/15/30		10,357,125
	14,350,000	g	Quicken Loans, Inc		5.250		01/15/28		15,067,500
	10,675,000		Springleaf Finance Corp		6.125		03/15/24		11,529,000
	3,650,000		Springleaf Finance Corp		8.875		06/01/25		4,043,470
	10,960,000		Springleaf Finance Corp		5.375		11/15/29		11,658,700
			TOTAL DIVERSIFIED FINANCIALS						197,314,764

ENERGY - 16.7%
	8,375,000		AmeriGas Partners LP		5.875		08/20/26		9,215,850
	8,900,000	g	Antero Midstream Partners LP		7.875		05/15/26		9,572,128
	13,075,000	g	Antero Midstream Partners LP		5.750		03/01/27		13,077,876
	9,625,000	g	Antero Midstream Partners LP		5.750		01/15/28		9,625,000
	5,000,000	e	Antero Resources Corp		5.000		03/01/25		5,003,850
	9,550,000	g	Archrock Partners LP		6.875		04/01/27		9,955,875
	11,681,000	g	Archrock Partners LP		6.250		04/01/28		11,865,560
	2,000,000		Ashland, Inc		6.875		05/15/43		2,500,000
	6,200,000		Calumet Specialty Products Partners LP		7.750		04/15/23		6,154,182
	6,000,000	g	Calumet Specialty Products Partners LP		11.000		04/15/25		6,300,000
	7,000,000		Cheniere Energy Partners LP		5.625		10/01/26		7,319,900
	11,875,000		Cheniere Energy Partners LP		4.500		10/01/29		12,314,612
	9,000,000	g	Cheniere Energy, Inc		4.625		10/15/28		9,346,860
	849,723	†	Cloud Peak Energy, Inc		9.000		10/24/24		543,823
	1,335,279	†,o	Cloud Peak Energy, Inc		12.000		05/01/25		827,873
	3,375,000		Comstock Resources, Inc		9.750		08/15/26		3,661,875
	1,809,000		Continental Resources, Inc		5.000		09/15/22		1,810,447
	6,787,000		Continental Resources, Inc		4.500		04/15/23		7,029,295
	7,345,000		Crestwood Midstream Partners LP		6.250		04/01/23		7,346,469
	6,050,000		Crestwood Midstream Partners LP		5.750		04/01/25		6,083,396
	5,700,000	g	Crestwood Midstream Partners LP		5.625		05/01/27		5,600,250
	2,932,000	g	Energean Israel Finance Ltd		4.500		03/30/24		2,953,875
	1,630,000	g	Energean Israel Finance Ltd		4.875		03/30/26		1,639,654
	1,630,000	g	Energean Israel Finance Ltd		5.375		03/30/28		1,648,083
	5,079,000	g	Energean Israel Finance Ltd		5.875		03/30/31		5,068,391
	1,569,000	g	EnLink Midstream LLC		5.625		01/15/28		1,517,192
	5,168,000		EnLink Midstream Partners LP		4.150		06/01/25		5,052,805
	5,000,000		EnLink Midstream Partners LP		4.850		07/15/26		4,830,150
	4,400,000	g	EQM Midstream Partners LP		6.000		07/01/25		4,735,500
	7,200,000	g	EQM Midstream Partners LP		6.500		07/01/27		7,828,200
	4,250,000	g	EQM Midstream Partners LP		4.500		01/15/29		4,141,455
	5,125,000	g	EQM Midstream Partners LP		4.750		01/15/31		4,971,250

313

TIAA-CREF FUNDS - High-Yield Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	20,285,000	g	Ferrellgas Escrow LLC		5.375	%	04/01/26	$	20,149,091
	22,178,000	g	Ferrellgas Escrow LLC		5.875		04/01/29		21,878,597
	9,400,000		Genesis Energy LP		6.500		10/01/25		9,214,350
	15,000,000		Genesis Energy LP		6.250		05/15/26		14,325,000
	6,175,000		Genesis Energy LP		7.750		02/01/28		6,176,852
	1,075,000		Global Partners LP		7.000		08/01/27		1,134,125
	8,825,000	g	Hess Midstream Operations LP		5.625		02/15/26		9,089,750
	1,840,000	g	Hilcorp Energy I LP		5.750		02/01/29		1,856,100
	1,791,000	g	Hilcorp Energy I LP		6.000		02/01/31		1,817,865
	3,925,000	g	MEG Energy Corp		5.875		02/01/29		3,934,812
	8,750,000	e,g	Moss Creek Resources Holdings, Inc		10.500		05/15/27		7,546,875
	6,875,000	e	Murphy Oil Corp		6.875		08/15/24		7,029,687
	4,800,000		Murphy Oil Corp		5.750		08/15/25		4,799,040
	13,482,000		Murphy Oil Corp		5.875		12/01/27		13,212,360
	1,650,000		Murphy Oil USA, Inc		5.625		05/01/27		1,724,250
	14,075,000	h,g	New Fortress Energy, Inc		6.500		09/30/26		14,180,563
	8,750,000	g	NGL Energy Operating LLC		7.500		02/01/26		8,990,625
	2,775,000		NuStar Logistics LP		5.750		10/01/25		2,970,693
	2,275,000		NuStar Logistics LP		6.375		10/01/30		2,459,844
	8,660,000		Occidental Petroleum Corp		2.700		08/15/22		8,663,248
	5,000,000		Occidental Petroleum Corp		6.950		07/01/24		5,486,450
	5,000,000		Occidental Petroleum Corp		2.900		08/15/24		4,945,200
	10,000,000		Occidental Petroleum Corp		8.000		07/15/25		11,479,300
	13,775,000		Occidental Petroleum Corp		5.875		09/01/25		14,722,720
	767,000		Occidental Petroleum Corp		5.500		12/01/25		811,103
	10,000,000		Occidental Petroleum Corp		8.500		07/15/27		11,850,000
	17,875,000		Occidental Petroleum Corp		6.375		09/01/28		19,619,689
	11,800,000		Occidental Petroleum Corp		8.875		07/15/30		14,879,800
	700,000		Occidental Petroleum Corp		6.125		01/01/31		772,940
	10,000,000		Occidental Petroleum Corp		6.450		09/15/36		11,037,600
	6,658,000	h,g	Parkland Corp		4.500		10/01/29		6,666,323
	7,000,000	g	Parkland Fuel Corp		6.000		04/01/26		7,320,600
	6,975,000	g	Parkland Fuel Corp		5.875		07/15/27		7,437,094
	2,375,000	e	Range Resources Corp		4.875		05/15/25		2,351,250
	15,000,000		Range Resources Corp		9.250		02/01/26		16,297,800
	3,325,000	g	Rattler Midstream LP		5.625		07/15/25		3,471,699
	3,000,000	e	SM Energy Co		5.000		01/15/24		2,821,500
	1,900,000		SM Energy Co		6.750		09/15/26		1,755,600
	7,500,000	e	SM Energy Co		6.625		01/15/27		6,937,500
	14,250,000	e	Southwestern Energy Co		7.500		04/01/26		15,076,785
	4,750,000		Southwestern Energy Co		7.750		10/01/27		5,076,563
	10,200,000		Suburban Propane Partners LP		5.750		03/01/25		10,365,750
	8,175,000		Suburban Propane Partners LP		5.875		03/01/27		8,502,000
	2,500,000		Sunoco LP		5.500		02/15/26		2,568,225
	5,000,000		Sunoco LP		6.000		04/15/27		5,231,250
	4,527,000	g	Sunoco LP		4.500		05/15/29		4,510,024
	4,836,000	g	Superior Plus LP		4.500		03/15/29		4,885,327
	2,025,000		Targa Resources Partners LP		6.500		07/15/27		2,200,527
	10,000,000		Targa Resources Partners LP		5.000		01/15/28		10,412,500
	6,125,000	g	Targa Resources Partners LP		4.875		02/01/31		6,206,156
	1,930,000	g	Targa Resources Partners LP		4.000		01/15/32		1,815,204
	10,000,000	g	TerraForm Power Operating LLC		5.000		01/31/28		10,790,500
	18,000,000		USA Compression Partners LP		6.875		04/01/26		18,461,250
	2,650,000		USA Compression Partners LP		6.875		09/01/27		2,729,500

314

TIAA-CREF FUNDS - High-Yield Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	7,500,000	g	Warrior Met Coal Inc		8.000	%	11/01/24	$	7,687,500
	5,000,000		Western Gas Partners LP		3.950		06/01/25		5,135,050
	5,000,000		Western Midstream Operating LP		4.350		02/01/25		5,175,000
	8,575,000		Western Midstream Operating LP		5.050		02/01/30		9,311,421
			TOTAL ENERGY						637,500,103

FOOD & STAPLES RETAILING - 0.6%
	2,280,000		Albertsons Cos LLC		5.750		03/15/25		2,354,556
	1,325,000	g	Albertsons Cos LLC		5.875		02/15/28		1,412,781
	14,300,000	g	Albertsons Cos, Inc		3.250		03/15/26		14,245,231
	5,900,000	g	Albertsons Cos, Inc		4.875		02/15/30		6,065,200
			TOTAL FOOD & STAPLES RETAILING						24,077,768

FOOD, BEVERAGE & TOBACCO - 1.2%
	11,325,000	g	Chobani LLC		4.625		11/15/28		11,551,500
	7,775,000		Kraft Heinz Foods Co		3.875		05/15/27		8,467,717
	1,675,000		Kraft Heinz Foods Co		4.375		06/01/46		1,750,993
	8,050,000	g	Lamb Weston Holdings, Inc		4.875		11/01/26		8,325,712
	10,284,000	g	Post Holdings, Inc		4.625		04/15/30		10,309,710
	3,632,000	g	Triton Water Holdings, Inc		6.250		04/01/29		3,704,640
			TOTAL FOOD, BEVERAGE & TOBACCO						44,110,272

HEALTH CARE EQUIPMENT & SERVICES - 7.0%
	8,575,000	g	AMN Healthcare Services, Inc		4.625		10/01/27		8,767,937
	1,375,000	g	AMN Healthcare Services, Inc		4.000		04/15/29		1,368,125
	2,000,000	g	Centene Corp		5.375		08/15/26		2,109,800
	7,175,000		Centene Corp		4.625		12/15/29		7,765,538
	7,050,000		Centene Corp		3.375		02/15/30		7,116,059
	2,275,000	g	CHS/Community Health Systems Inc		5.625		03/15/27		2,383,062
	800,000	g	CHS/Community Health Systems Inc		6.000		01/15/29		846,000
	8,950,000	g	CHS/Community Health Systems Inc		6.875		04/15/29		9,369,486
	1,925,000	g	CHS/Community Health Systems Inc		4.750		02/15/31		1,880,532
	7,625,000	g	CHS/Community Health Systems, Inc		6.625		02/15/25		8,049,179
	2,500,000	g	CHS/Community Health Systems, Inc		8.000		03/15/26		2,703,250
	3,850,000	g	CHS/Community Health Systems, Inc		8.000		12/15/27		4,220,216
	17,815,000	g	DaVita, Inc		4.625		06/01/30		18,150,991
	8,750,000	g	DaVita, Inc		3.750		02/15/31		8,345,138
	4,000,000		Encompass Health Corp		5.750		09/15/25		4,132,000
	8,100,000		Encompass Health Corp		4.500		02/01/28		8,295,372
	3,750,000		Encompass Health Corp		4.750		02/01/30		3,857,629
	15,000,000	g	Global Medical Response, Inc		6.500		10/01/25		15,525,000
	21,350,000		HCA, Inc		5.375		02/01/25		23,816,245
	900,000		HCA, Inc		7.500		11/06/33		1,199,592
	15,000,000	g	LifePoint Health, Inc		4.375		02/15/27		14,700,000
	4,225,000	g	LifePoint Health, Inc		5.375		01/15/29		4,161,625
	4,425,000	g	MEDNAX, Inc		6.250		01/15/27		4,731,653
	4,950,000	g	Molina Healthcare, Inc		4.375		06/15/28		5,093,352
	22,250,000	e,g	MPH Acquisition Holdings LLC		5.750		11/01/28		21,693,750
	5,000,000		MPT Operating Partnership LP		5.000		10/15/27		5,260,025
	7,275,000		MPT Operating Partnership LP		4.625		08/01/29		7,653,518
	2,290,000	g	Teleflex, Inc		4.250		06/01/28		2,373,013
	23,125,000		Tenet Healthcare Corp		4.625		07/15/24		23,603,456
	2,625,000	g	Tenet Healthcare Corp		7.500		04/01/25		2,834,134
	2,500,000	g	Tenet Healthcare Corp		4.625		06/15/28		2,562,450

315

TIAA-CREF FUNDS - High-Yield Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	27,050,000	g	Tenet Healthcare Corp		6.125	%	10/01/28	$	28,233,438
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						262,801,565

INSURANCE - 0.8%
	18,513,000	g	Acrisure LLC		4.250		02/15/29		18,206,610
	11,725,000	g	Alliant Holdings Intermediate LLC		4.250		10/15/27		11,739,656
			TOTAL INSURANCE						29,946,266

MATERIALS - 7.3%
	1,600,000	g	Alcoa Nederland Holding BV		6.750		09/30/24		1,653,600
	1,500,000	g	Alcoa Nederland Holding BV		6.125		05/15/28		1,633,800
	3,261,000	g	Arconic Corp		6.000		05/15/25		3,514,657
	1,000,000		Arconic Inc		5.125		10/01/24		1,099,900
	2,225,000	g	Ardagh Metal Packaging Finance USA LLC		4.000		09/01/29		2,221,373
	3,575,000	g	Axalta Coating Systems LLC		3.375		02/15/29		3,486,340
	3,000,000	g	Berry Global, Inc		4.875		07/15/26		3,174,465
	7,075,000	g	Berry Global, Inc		5.625		07/15/27		7,472,969
	8,654,000	g	Cleveland-Cliffs, Inc		9.875		10/17/25		10,138,594
	4,325,000	g	Constellium SE		3.750		04/15/29		4,135,046
	3,000,000		Crown Americas LLC		4.750		02/01/26		3,111,000
	4,625,000	g	Element Solutions, Inc		3.875		09/01/28		4,563,718
	7,660,000	g	Enviva Partners LP		6.500		01/15/26		8,023,850
	3,000,000	g	First Quantum Minerals Ltd		7.500		04/01/25		3,097,500
	4,750,000	g	First Quantum Minerals Ltd		6.875		03/01/26		4,916,250
	9,250,000		Freeport-McMoRan, Inc		4.550		11/14/24		10,112,424
	4,000,000		Freeport-McMoRan, Inc		5.250		09/01/29		4,374,080
	3,100,000		Freeport-McMoRan, Inc		5.400		11/14/34		3,690,596
	14,250,000		Freeport-McMoRan, Inc		5.450		03/15/43		17,142,750
	6,650,000	g	GCP Applied Technologies, Inc		5.500		04/15/26		6,840,855
	6,825,000		H.B. Fuller Co		4.250		10/15/28		6,934,610
	2,238,000	g	Hudbay Minerals, Inc		4.500		04/01/26		2,325,976
	3,075,000	g	Hudbay Minerals, Inc		6.125		04/01/29		3,282,562
	2,600,000	g	Ingevity Corp		3.875		11/01/28		2,522,000
	12,250,000	g	James Hardie International Finance DAC		5.000		01/15/28		12,954,375
	4,118,000	g	Joseph T Ryerson & Son, Inc		8.500		08/01/28		4,612,160
	2,775,000	g	Kraton Polymers LLC		4.250		12/15/25		2,785,406
	30,000,000	g	Nova Chemicals Corp		4.875		06/01/24		31,350,000
	3,500,000	g	NV Chemicals Corp		5.250		08/01/23		3,521,875
	6,575,000	g	OCI NV		5.250		11/01/24		6,838,000
	11,875,000	g	OCI NV		4.625		10/15/25		12,275,781
	8,450,000		Olin Corp		5.125		09/15/27		8,745,750
	11,250,000	g	Owens-Brockway Glass Container, Inc		5.875		08/15/23		12,051,562
	3,006,000	g	PolyOne Corp		5.750		05/15/25		3,193,875
	9,850,000	g	Rayonier AM Products, Inc		7.625		01/15/26		10,465,625
	6,975,000	g	Standard Industries, Inc		5.000		02/15/27		7,271,438
	7,000,000	g	Trinseo Materials Operating S.C.A		5.375		09/01/25		7,195,300
	3,400,000	g	Tronox Finance plc		5.750		10/01/25		3,546,642
	9,702,000	g	Tronox, Inc		6.500		05/01/25		10,405,395
	11,587,000	g	Tronox, Inc		4.625		03/15/29		11,601,484
	4,940,000	g	Univar Solutions USA, Inc		5.125		12/01/27		5,140,663
	4,225,000	g	US Concrete, Inc		5.125		03/01/29		4,351,750
			TOTAL MATERIALS						277,775,996

316

TIAA-CREF FUNDS - High-Yield Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

MEDIA & ENTERTAINMENT - 8.9%
$	9,250,000	g	Altice Financing S.A.		5.000	%	01/15/28	$	9,133,774
	2,925,000	h,g	Arches Buyer, Inc		4.250		06/01/28		2,919,735
	925,000	h,g	Arches Buyer, Inc		6.125		12/01/28		952,750
	5,000,000	g	CCO Holdings LLC		5.000		02/01/28		5,288,250
	5,000,000	g	CCO Holdings LLC		5.375		06/01/29		5,362,500
	12,250,000	g	CCO Holdings LLC		4.500		08/15/30		12,485,200
	19,025,000	g	CCO Holdings LLC		4.250		02/01/31		19,067,235
	20,800,000	g	CCO Holdings LLC		4.500		05/01/32		21,060,000
	11,475,000	e,g	Cinemark USA, Inc		8.750		05/01/25		12,565,125
	5,000,000	g	Clear Channel Worldwide Holdings, Inc		5.125		08/15/27		5,028,750
	10,850,000	g	CSC Holdings LLC		5.500		04/15/27		11,396,297
	14,250,000	g	CSC Holdings LLC		7.500		04/01/28		15,714,900
	4,350,000	g	CSC Holdings LLC		6.500		02/01/29		4,806,750
	6,725,000	g	CSC Holdings LLC		5.750		01/15/30		7,083,073
	17,600,000	g	CSC Holdings LLC		4.625		12/01/30		17,311,624
	8,400,000	g	CSC Holdings LLC		3.375		02/15/31		7,917,000
	8,175,000	g	Diamond Sports Group LLC		5.375		08/15/26		5,886,000
	4,030,000		DISH DBS Corp		5.000		03/15/23		4,204,297
	13,500,000		DISH DBS Corp		7.750		07/01/26		14,900,422
	17,400,000		DISH DBS Corp		7.375		07/01/28		18,253,470
	7,675,000	g	Gray Escrow, Inc		7.000		05/15/27		8,346,563
	9,600,000	g	Gray Television, Inc		5.875		07/15/26		9,948,000
	9,900,000	g	Gray Television, Inc		4.750		10/15/30		9,813,375
	3,225,000		Lamar Media Corp		3.750		02/15/28		3,220,969
	4,375,000		Lamar Media Corp		4.875		01/15/29		4,560,938
	4,050,000		Lamar Media Corp		4.000		02/15/30		4,038,741
	14,650,000	g	LCPR Senior Secured Financing DAC		5.125		07/15/29		14,908,133
	3,475,000	g	Match Group, Inc		4.625		06/01/28		3,550,616
	8,772,000	g	Meredith Corp		6.500		07/01/25		9,411,303
	4,772,000	e	Meredith Corp		6.875		02/01/26		4,907,644
	3,990,000	g	Outfront Media Capital LLC		4.250		01/15/29		3,841,253
	2,975,000	g	Playtika Holding Corp		4.250		03/15/29		2,930,970
	5,300,000	g	PM General Purchaser LLC		9.500		10/01/28		5,657,750
	8,250,000	g	Rackspace Technology Global, Inc		3.500		02/15/28		7,929,488
	8,100,000	g	Sirius XM Radio, Inc		5.375		07/15/26		8,363,250
	9,775,000	g	Sirius XM Radio, Inc		4.125		07/01/30		9,786,241
	12,425,000		TEGNA, Inc		4.625		03/15/28		12,642,438
	9,325,000	g	Virgin Media Secured Finance plc		5.500		05/15/29		9,896,156
			TOTAL MEDIA & ENTERTAINMENT						335,090,980

PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 2.2%
	10,795,000	g	Avantor Funding, Inc		4.625		07/15/28		11,273,866
	5,250,000	g	Bausch Health Cos, Inc		7.000		01/15/28		5,699,137
	2,625,000	g	Emergent BioSolutions, Inc		3.875		08/15/28		2,565,938
	6,952,000	g	Endo Luxembourg Finance Co I Sarl		6.125		04/01/29		7,012,830
	14,600,000	g	Horizon Pharma USA, Inc		5.500		08/01/27		15,585,500
	3,000,000	g	Jaguar Holding Co II		4.625		06/15/25		3,129,900
	2,775,000	g	Jaguar Holding Co II		5.000		06/15/28		2,890,162
	8,000,000	g	Par Pharmaceutical, Inc		7.500		04/01/27		8,485,200
	4,750,000	g	Valeant Pharmaceuticals International, Inc		9.000		12/15/25		5,160,733
	4,750,000	g	Valeant Pharmaceuticals International, Inc		9.250		04/01/26		5,263,000
	15,100,000	g	VRX Escrow Corp		6.125		04/15/25		15,480,520
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						82,546,786

317

TIAA-CREF FUNDS - High-Yield Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

REAL ESTATE - 2.6%
$	8,925,000	g	Cushman & Wakefield US Borrower LLC		6.750	%	05/15/28	$	9,650,156
	6,250,000		Diversified Healthcare Trust		4.375		03/01/31		6,100,500
	7,250,000	g	HAT Holdings I LLC		6.000		04/15/25		7,648,750
	4,776,000	g	Howard Hughes Corp		4.125		02/01/29		4,669,591
	5,099,000	g	Howard Hughes Corp		4.375		02/01/31		4,993,833
	13,425,000	g	Iron Mountain, Inc		4.875		09/15/27		13,735,453
	8,100,000	g	Iron Mountain, Inc		4.500		02/15/31		8,007,660
	12,050,000		iStar, Inc		4.750		10/01/24		12,536,881
	8,472,000		Kennedy-Wilson, Inc		4.750		03/01/29		8,577,900
	11,771,000		Kennedy-Wilson, Inc		5.000		03/01/31		11,921,080
	2,937,000	g	MGM Growth Properties Operating Partnership LP		4.625		06/15/25		3,097,654
	3,895,000	g	SBA Communications Corp		3.125		02/01/29		3,743,679
	1,900,000	g	VICI Properties LP		4.250		12/01/26		1,943,862
	2,900,000	g	VICI Properties LP		4.125		08/15/30		2,925,230
			TOTAL REAL ESTATE						99,552,229

RETAILING - 2.8%
	7,050,000	g	Group 1 Automotive, Inc		4.000		08/15/28		7,005,937
	1,993,000	g	L Brands, Inc		9.375		07/01/25		2,481,285
	6,650,000		L Brands, Inc		5.250		02/01/28		7,132,125
	7,250,000	g	L Brands, Inc		6.625		10/01/30		8,278,050
	5,400,000	g	Lithia Motors, Inc		5.250		08/01/25		5,562,000
	8,830,000	g	Lithia Motors, Inc		4.625		12/15/27		9,172,163
	1,950,000	g	Lithia Motors, Inc		4.375		01/15/31		2,023,993
	9,145,000		Penske Automotive Group, Inc		5.500		05/15/26		9,410,662
	1,925,000	g	PetSmart, Inc		4.750		02/15/28		1,968,717
	15,000,000	g	Staples, Inc		7.500		04/15/26		15,821,250
	31,700,000	g	Staples, Inc		10.750		04/15/27		31,303,750
	2,675,000	g	Summit Materials LLC		5.250		01/15/29		2,792,031
			TOTAL RETAILING						102,951,963

SOFTWARE & SERVICES - 1.6%
	2,705,000	g	Black Knight InfoServ LLC		3.625		09/01/28		2,657,960
	3,050,000	g	Booz Allen Hamilton, Inc		3.875		09/01/28		3,066,013
	6,150,000	g	Camelot Finance S.A.		4.500		11/01/26		6,358,608
	6,050,000	g	Gartner, Inc		4.500		07/01/28		6,239,062
	6,525,000	g	j2 Global, Inc		4.625		10/15/30		6,590,250
	12,000,000	g	Open Text Corp		5.875		06/01/26		12,405,000
	4,125,000	g	Open Text Holdings, Inc		4.125		02/15/30		4,181,471
	1,080,000	g	Presidio Holdings, Inc		4.875		02/01/27		1,107,022
	5,300,000	g	SS&C Technologies, Inc		5.500		09/30/27		5,644,765
	9,675,000		Twilio, Inc		3.625		03/15/29		9,794,293
	2,275,000	g	Unisys Corp		6.875		11/01/27		2,491,125
			TOTAL SOFTWARE & SERVICES						60,535,569

TECHNOLOGY HARDWARE & EQUIPMENT - 2.2%
	9,925,000	g	CommScope Finance LLC		8.250		03/01/27		10,619,750
	16,206,000	g	CommScope Technologies LLC		6.000		06/15/25		16,530,930
	4,000,000	g	CommScope Technologies LLC		5.000		03/15/27		3,962,520
	9,175,000	e	Diebold Nixdorf, Inc		8.500		04/15/24		9,372,262
	9,150,000	g	Diebold Nixdorf, Inc		9.375		07/15/25		10,190,813
	3,650,000	g	MTS Systems Corp		5.750		08/15/27		3,976,219

318

TIAA-CREF FUNDS - High-Yield Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	550,000	g	NCR Corp		8.125	%	04/15/25	$	602,250
	5,725,000	g	NCR Corp		5.000		10/01/28		5,782,250
	4,800,000	g	Sensata Technologies BV		4.000		04/15/29		4,886,544
	8,650,000	g	TTM Technologies, Inc		4.000		03/01/29		8,541,875
	5,761,000	g	Via Stat Inc		5.625		09/15/25		5,855,826
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						80,321,239

TELECOMMUNICATION SERVICES - 4.0%
	19,150,000	g	Altice France S.A.		7.375		05/01/26		19,917,915
	8,675,000	g	Altice France S.A.		8.125		02/01/27		9,508,667
	20,775,000	g	Avaya, Inc		6.125		09/15/28		22,054,013
	16,400,000		CenturyLink, Inc		7.500		04/01/24		18,381,938
	1,475,000		Hughes Satellite Systems Corp		5.250		08/01/26		1,623,223
	6,825,000	g	Level 3 Financing, Inc		4.250		07/01/28		6,902,191
	3,225,000	g	QualityTech LP		3.875		10/01/28		3,208,875
	4,500,000		Sprint Capital Corp		8.750		03/15/32		6,654,375
	6,900,000		Sprint Corp		7.875		09/15/23		7,886,700
	10,450,000		Sprint Corp		7.625		02/15/25		12,461,625
	9,500,000		Sprint Corp		7.625		03/01/26		11,634,650
	9,300,000	g	Telecom Italia S.p.A		5.303		05/30/24		10,072,598
	6,930,000		T-Mobile USA, Inc		2.250		02/15/26		6,979,827
	16,600,000	g	Zayo Group Holdings, Inc		4.000		03/01/27		16,309,500
			TOTAL TELECOMMUNICATION SERVICES						153,596,097

TRANSPORTATION - 1.6%
	11,691,000	g	American Airlines, Inc		5.500		04/20/26		12,166,707
	10,675,000	g	Cargo Aircraft Management, Inc		4.750		02/01/28		11,021,937
	14,206,000	g	Delta Air Lines, Inc		7.000		05/01/25		16,364,708
	5,975,000	g	Delta Air Lines, Inc		4.750		10/20/28		6,497,190
	1,270,000	g	Hawaiian Brand Intellectual Property Ltd		5.750		01/20/26		1,349,502
	1,800,000	g	Meccanica Holdings USA, Inc		7.375		07/15/39		2,286,000
	9,450,000	g	Mileage Plus Holdings LLC		6.500		06/20/27		10,359,563
			TOTAL TRANSPORTATION						60,045,607

UTILITIES - 1.6%
	11,474,000	g	Calpine Corp		5.250		06/01/26		11,798,140
	6,625,000	g	Calpine Corp		3.750		03/01/31		6,314,288
	2,400,000	g	Clearway Energy Operating LLC		4.750		03/15/28		2,496,936
	10,000,000		Edison International		5.375		N/A‡		10,138,000
	5,750,000	g	NextEra Energy Operating Partners LP		4.250		07/15/24		6,051,875
	482,000	g	NextEra Energy Operating Partners LP		4.250		09/15/24		508,510
	826,000		NRG Energy, Inc		6.625		01/15/27		859,040
	2,563,000	g	Pattern Energy Operations LP		4.500		08/15/28		2,604,649
	9,000,000	g	Talen Energy Supply LLC		10.500		01/15/26		8,055,000
	9,950,000	g	Talen Energy Supply LLC		7.625		06/01/28		10,074,375
			TOTAL UTILITIES						58,900,813

			TOTAL CORPORATE BONDS						3,211,439,167
			(Cost $3,078,939,073)

			TOTAL BONDS						3,211,439,167
			(Cost $3,078,939,073)

319

TIAA-CREF FUNDS - High-Yield Fund

SHARES			COMPANY	RATE			MATURITY DATE	VALUE

COMMON STOCKS - 0.0%

ENERGY - 0.0%
	7,963	*,†	Cloud Peak Energy, Inc					$	80
			TOTAL ENERGY						80

			TOTAL COMMON STOCKS						80
			(Cost $0)

RIGHTS / WARRANTS - 0.0%

ENERGY - 0.0%
	1,264,286	†	Spectacle Bidco Holding, Inc						12,643
			TOTAL ENERGY						12,643

			TOTAL RIGHTS / WARRANTS						12,643
			(Cost $13,190,416)

PRINCIPAL			ISSUER

SHORT-TERM INVESTMENTS - 4.7%

GOVERNMENT AGENCY DEBT - 2.1%
$	1,353,000		Federal Farm Credit Bank (FFCB)		0.010	%	04/01/21		1,353,000
	10,546,000		Federal Home Loan Bank (FHLB)		0.085		04/08/21		10,546,000
	5,765,000		FHLB		0.020		04/09/21		5,765,000
	15,000,000		FHLB		0.039		04/14/21		15,000,000
	3,088,000		FHLB		0.032		04/28/21		3,088,000
	18,856,000		FHLB		0.025		05/07/21		18,855,812
	8,230,000		FHLB		0.035		06/04/21		8,229,707
	7,200,000		FHLB		0.010		06/23/21		7,199,668
	10,000,000		Tennessee Valley Authority (TVA)		0.022		04/07/21		10,000,000
			TOTAL GOVERNMENT AGENCY DEBT						80,037,187

TREASURY DEBT - 1.5%
	30,000,000		United States Treasury Bill		0.020		04/13/21		29,999,950
	13,324,000		United States Treasury Bill		0.015		04/22/21		13,323,922
	15,000,000		United States Treasury Bill		0.031		06/01/21		14,999,619
			TOTAL TREASURY DEBT						58,323,491

SHARES			COMPANY

INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 1.1%
	40,248,079	c	State Street Navigator Securities Lending Government Money Market Portfolio		0.030				40,248,079
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES						40,248,079

			TOTAL SHORT-TERM INVESTMENTS						178,608,757
			(Cost $178,607,317)
			TOTAL INVESTMENTS - 99.5%						3,767,077,260
			(Cost $3,645,959,556)
			OTHER ASSETS & LIABILITIES, NET - 0.5%						17,320,319
			NET ASSETS - 100.0%					$	3,784,397,579

320

TIAA-CREF FUNDS - High-Yield Fund


		Abbreviation(s):
LIBOR		London Interbank Offered Rate
M		Month

*		Non-income producing
†		Security is categorized as Level 3 in the fair value hierarchy.
‡		Perpetual security
c		Investments made with cash collateral received from securities on loan.
e		All or a portion of these securities are out on loan. The aggregate value of securities on loan is $38,661,785.
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 3/31/2021, the aggregate value of these securities is $2,146,635,558 or 56.7% 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

321

TIAA-CREF FUNDS - Inflation-Linked Bond Fund

TIAA-CREF FUNDS
INFLATION-LINKED BOND FUND
SCHEDULE OF INVESTMENTS
March 31, 2021

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

BONDS - 99.4%

GOVERNMENT BONDS - 99.4%

AGENCY SECURITIES - 0.5%
$	1,752,863		HNA LLC		2.369	%	09/18/27	$	1,841,350
	8,925,000		Montefiore Medical Center		2.895		04/20/32		9,676,472
	3,000,000		Private Export Funding Corp (PEFCO)		3.250		06/15/25		3,264,884
	3,289,474		Reliance Industries Ltd		2.444		01/15/26		3,438,081
			TOTAL AGENCY SECURITIES						18,220,787

MORTGAGE BACKED - 2.9%
	10,654,323		Government National Mortgage Association (GNMA)		3.600		09/15/31		11,343,773
	5,376,159		GNMA		3.700		10/15/33		5,782,112
	1,558,432		GNMA		3.380		07/15/35		1,655,503
	1,472,592		GNMA		3.870		10/15/36		1,595,132
	5,340,691		GNMA		3.940		03/15/37		5,776,167
	19,784,864		GNMA		1.730		07/15/37		19,478,463
	22,349,586		GNMA		4.250		09/15/38		24,334,507
	13,868,487		GNMA		1.650		07/15/42		13,335,887
	13,551,397		GNMA		2.750		01/15/45		14,207,591
			TOTAL MORTGAGE BACKED						97,509,135

U.S. TREASURY SECURITIES - 96.0%
	116,983,162	k	United States Treasury Inflation Indexed Bonds		0.125		04/15/22		120,305,301
	131,521,998	k	United States Treasury Inflation Indexed Bonds		0.125		07/15/22		136,740,064
	132,590,867	k	United States Treasury Inflation Indexed Bonds		0.125		01/15/23		139,054,671
	118,984,480	k	United States Treasury Inflation Indexed Bonds		0.625		04/15/23		126,588,332
	125,312,620	k	United States Treasury Inflation Indexed Bonds		0.375		07/15/23		134,155,482
	134,534,019	k	United States Treasury Inflation Indexed Bonds		0.625		01/15/24		145,855,547
	106,704,173	k	United States Treasury Inflation Indexed Bonds		0.500		04/15/24		115,660,098
	132,984,095	k	United States Treasury Inflation Indexed Bonds		0.125		07/15/24		143,869,571
	84,101,325	k	United States Treasury Inflation Indexed Bonds		0.125		10/15/24		90,967,409
	135,618,464	k	United States Treasury Inflation Indexed Bonds		0.250		01/15/25		147,303,195
	105,944,229	k	United States Treasury Inflation Indexed Bonds		2.375		01/15/25		124,101,663
	25,315,400	k	United States Treasury Inflation Indexed Bonds		0.125		04/15/25		27,403,921
	120,409,108	k	United States Treasury Inflation Indexed Bonds		0.375		07/15/25		132,644,428
	123,480,000	k	United States Treasury Inflation Indexed Bonds		0.125		10/15/25		134,512,810
	119,742,913	k	United States Treasury Inflation Indexed Bonds		0.625		01/15/26		133,145,388
	64,690,156	k	United States Treasury Inflation Indexed Bonds		2.000		01/15/26		76,437,989
	96,161,287	k	United States Treasury Inflation Indexed Bonds		0.125		07/15/26		105,087,508
	111,792,905	k	United States Treasury Inflation Indexed Bonds		0.375		01/15/27		123,302,625
	45,727,511	k	United States Treasury Inflation Indexed Bonds		2.375		01/15/27		55,984,048
	87,749,244	k	United States Treasury Inflation Indexed Bonds		0.375		07/15/27		97,314,255
	128,405,963	k	United States Treasury Inflation Indexed Bonds		0.500		01/15/28		143,000,437
	68,690,967	k	United States Treasury Inflation Indexed Bonds		1.750		01/15/28		82,606,254
	53,103,290	k	United States Treasury Inflation Indexed Bonds		3.625		04/15/28		71,492,379

322

TIAA-CREF FUNDS - Inflation-Linked Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	68,633,247	k	United States Treasury Inflation Indexed Bonds		0.750	%	07/15/28	$	78,258,881
	84,315,748	k	United States Treasury Inflation Indexed Bonds		0.875		01/15/29		96,679,862
	41,765,987	k	United States Treasury Inflation Indexed Bonds		2.500		01/15/29		53,434,360
	70,898,842	k	United States Treasury Inflation Indexed Bonds		3.875		04/15/29		99,503,478
	47,034,540	k	United States Treasury Inflation Indexed Bonds		0.250		07/15/29		51,751,468
	55,911,350	k	United States Treasury Inflation Indexed Bonds		0.125		01/15/30		60,494,188
	98,440,615	k	United States Treasury Inflation Indexed Bonds		0.125		07/15/30		106,840,112
	35,165,550	k	United States Treasury Inflation Indexed Bonds		0.125		01/15/31		37,851,960
	53,047,000	k	United States Treasury Inflation Indexed Bonds		3.375		04/15/32		77,255,910
	10,045,900	k	United States Treasury Inflation Indexed Bonds		0.125		02/15/51		10,113,788
			TOTAL U.S. TREASURY SECURITIES						3,279,717,382

			TOTAL GOVERNMENT BONDS						3,395,447,304
			(Cost $3,132,389,144)

			TOTAL BONDS						3,395,447,304
			(Cost $3,132,389,144)

SHORT-TERM INVESTMENTS - 0.6%

GOVERNMENT AGENCY DEBT - 0.6%
	9,860,000		Federal Home Loan Bank (FHLB)		0.005		04/13/21		9,860,000
	6,047,000		FHLB		0.010		04/16/21		6,047,000
	7,495,000		FHLB		0.010		05/12/21		7,494,915
			TOTAL GOVERNMENT AGENCY DEBT						23,401,915

	SHARES		COMPANY

INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 0.0%
	713	c	State Street Navigator Securities Lending Government Money Market Portfolio		0.030				713
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES						713

			TOTAL SHORT-TERM INVESTMENTS						23,402,628
			(Cost $23,402,591)

			TOTAL INVESTMENTS - 100.0%						3,418,849,932
			(Cost $3,155,791,735)
			OTHER ASSETS & LIABILITIES, NET - (0.0)%						(1,375,162	)
			NET ASSETS - 100.0%					$	3,417,474,770


c		Investments made with cash collateral received from securities on loan.
k		Principal amount for interest accrual purposes is periodically adjusted based on changes in the Consumer Price Index.

Futures contracts outstanding as of March 31, 2021 were as follows:

Description			Number of long (short) contracts			Expiration date		Notional amount				Value				Unrealized appreciation (depreciation)
US Ultra Bond (CBT)			(50	)		06/21/21		$	(9,412,010	)		$	(9,060,938	)		$	351,072

323

TIAA-CREF FUNDS - Short Duration Impact Bond Fund

TIAA-CREF FUNDS
SHORT DURATION IMPACT BOND FUND
SCHEDULE OF INVESTMENTS
March 31, 2021

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

BANK LOAN OBLIGATIONS - 1.5%

UTILITIES - 1.5%
$	498,750	i	Exgen Renewables IV LLC	LIBOR 3 M + 2.750%		3.750	%	12/15/27	$	498,960
			TOTAL UTILITIES							498,960

			TOTAL BANK LOAN OBLIGATIONS							498,960
			(Cost $496,338)

BONDS - 94.1%

CORPORATE BONDS - 42.0%

AUTOMOBILES & COMPONENTS - 1.0%
	350,000	g	Hyundai Capital Services, Inc			1.250		02/08/26		341,329
			TOTAL AUTOMOBILES & COMPONENTS							341,329

BANKS - 9.7%
	250,000		Bank of America Corp			0.981		09/25/25		249,350
	250,000		Citigroup, Inc			1.678		05/15/24		255,093
	250,000		Citigroup, Inc			0.776		10/30/24		249,830
	500,000	i	Citigroup, Inc	LIBOR 3 M + 1.250%		1.452		07/01/26		511,940
	500,000		HSBC Holdings plc			3.033		11/22/23		520,033
	225,000		JPMorgan Chase & Co			0.563		02/16/25		223,327
	250,000		Lloyds Banking Group plc			4.500		11/04/24		277,888
	250,000		Royal Bank of Scotland Group plc			2.359		05/22/24		257,932
	250,000	g,i	Standard Chartered plc	SOFR + 1.250%		1.281		10/14/23		252,737
	400,000	g	USAA Capital Corp			1.500		05/01/23		408,637
			TOTAL BANKS							3,206,767

CAPITAL GOODS - 3.1%
	250,000		CNH Industrial Capital LLC			4.875		04/01/21		250,000
	500,000		CNH Industrial Capital LLC			1.950		07/02/23		513,438
	250,000	g,i	Siemens Financieringsmaatschappij NV	SOFR + 0.430%		0.440		03/11/24		250,747
			TOTAL CAPITAL GOODS							1,014,185

CONSUMER SERVICES - 2.4%
	550,000		Nature Conservancy			0.467		07/01/23		549,502
	260,000	i	Nature Conservancy	LIBOR 3 M + 1.080%		1.285		02/01/24		260,801
			TOTAL CONSUMER SERVICES							810,303

DIVERSIFIED FINANCIALS - 5.8%
	250,000		Century Housing Corp			3.995		11/01/21		252,837
	250,000		Goldman Sachs Group, Inc			0.855		02/12/26		245,726
	250,000		Morgan Stanley			0.985		12/10/26		244,023
	260,000	g	NongHyup Bank			1.250		07/20/25		258,321
	250,000		Reinvestment Fund, Inc			3.477		02/15/23		254,248

324

TIAA-CREF FUNDS - Short Duration Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	125,000	g	Starwood Property Trust, Inc			5.500	%	11/01/23	$	130,625
	250,000	g	WLB Asset II B Pte Ltd			3.950		12/10/24		247,482
	250,000	g	WLB Asset II Pte Ltd			4.000		01/14/24		256,324
			TOTAL DIVERSIFIED FINANCIALS							1,889,586

ENERGY - 2.1%
	250,000	g	Aker BP ASA			2.875		01/15/26		258,183
	150,000		EQT Corp			7.625		02/01/25		172,633
	250,000	i	Valero Energy Corp	LIBOR 3 M + 1.150%		1.334		09/15/23		250,846
			TOTAL ENERGY							681,662

MATERIALS - 0.8%
	250,000		Newmont Goldcorp Corp			3.625		06/09/21		250,087
			TOTAL MATERIALS							250,087

PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 4.8%
	500,000	i	AbbVie, Inc	LIBOR 3 M + 0.650%		0.832		11/21/22		503,071
	1,075,000	g,i	Roche Holdings, Inc	SOFR + 0.240%		0.251		03/05/24		1,075,745
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES							1,578,816

REAL ESTATE - 1.2%
	300,000		Federal Realty Investment Trust			1.250		02/15/26		296,226
	100,000	g	HAT Holdings I LLC			5.250		07/15/24		103,250
			TOTAL REAL ESTATE							399,476

TELECOMMUNICATION SERVICES - 0.8%
	250,000	i	Verizon Communications, Inc	SOFR + 0.790%		0.800		03/20/26		251,446
			TOTAL TELECOMMUNICATION SERVICES							251,446

TRANSPORTATION - 1.6%
	242,526		Delta Air Lines, Inc			2.000		06/10/28		242,888
	286,446		Delta Air Lines, Inc			2.500		06/10/28		290,246
			TOTAL TRANSPORTATION							533,134

UTILITIES - 8.7%
	300,000	g	AES Corp			1.375		01/15/26		292,393
	250,000	i	Atmos Energy Corp	LIBOR 3 M + 0.380%		0.565		03/09/23		250,027
	300,000		Avangrid, Inc			3.200		04/15/25		321,195
	250,000	g	Azure Power Energy Ltd			5.500		11/03/22		255,001
	600,000	i	CenterPoint Energy Resources Corp	LIBOR 3 M + 0.500%		0.684		03/02/23		600,170
	250,000	g	Hanwha Energy USA Holdings Corp			2.375		07/30/22		255,791
	300,000	g	Korea Hydro & Nuclear Power Co Ltd			3.750		07/25/23		321,533
	300,000		National Fuel Gas Co			5.500		01/15/26		342,853
	250,000	i	NextEra Energy Capital Holdings, Inc	SOFR + 0.540%		0.550		03/01/23		250,625
			TOTAL UTILITIES							2,889,588

			TOTAL CORPORATE BONDS							13,846,379
			(Cost $13,655,390)

GOVERNMENT BONDS - 36.2%

AGENCY SECURITIES - 6.7%
	250,000		Federal Home Loan Mortgage Corp (FHLMC)			0.375		05/05/23		251,075

325

TIAA-CREF FUNDS - Short Duration Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	250,000		FHLMC			1.500	%	02/12/25	$	258,439
	500,000		Federal National Mortgage Association (FNMA)			0.250		07/10/23		500,382
	245,058		Overseas Private Investment Corp (OPIC)			1.790		10/15/29		257,745
	250,000		Thirax LLC			0.968		01/14/33		247,884
	245,058		United States International Development Finance Corp			1.050		10/15/29		249,511
	250,000		US Department of Housing and Urban Development (HUD)			2.618		08/01/23		263,183
	200,935	i	Washington Aircraft 2 Co Ltd	LIBOR 3 M + 0.430%		0.625		06/26/24		201,229
			TOTAL AGENCY SECURITIES							2,229,448

FOREIGN GOVERNMENT BONDS - 7.8%
	500,000	g	European Stability Mechanism			1.375		09/11/24		513,469
	250,000		International Bank for Reconstruction & Development			0.625		04/22/25		249,042
	500,000	g	International Development Association			2.750		04/24/23		525,400
	235,000	g	Korea Electric Power Corp			1.125		06/15/25		233,328
	250,000		Kreditanstalt fuer Wiederaufbau			2.000		11/30/21		253,040
	250,000	g	Nederlandse Waterschapsbank NV			1.750		01/15/25		259,754
	500,000	g	Perusahaan Penerbit SBSN Indonesia III			3.750		03/01/23		526,540
			TOTAL FOREIGN GOVERNMENT BONDS							2,560,573

MORTGAGE BACKED - 0.5%
	98,212		Federal National Mortgage Association (FNMA)			2.500		01/01/36		102,511
	52,555		Government National Mortgage Association (GNMA)			4.000		12/20/44		58,142
			TOTAL MORTGAGE BACKED							160,653

MUNICIPAL BONDS - 8.1%
	250,000		California Earthquake Authority			1.227		07/01/21		250,603
	250,000		California Health Facilities Financing Authority			1.896		06/01/21		250,661
	90,000	g	California Municipal Finance Authority			4.250		11/01/23		90,000
	400,000		City of Detroit MI			1.817		04/01/22		399,910
	150,000	i	Connecticut Housing Finance Authority	SOFR + 0.650%		0.660		05/15/49		150,023
	95,000		County of Saline AR			3.550		06/01/42		96,860
	120,000		Grant County Public Utility District No 2 Priest Rapids Hydroelectric Project			1.794		01/01/22		121,424
	225,000		Massachusetts Water Resources Authority			1.702		08/01/21		226,116
	330,000		New York State Energy Research & Development Authority			1.624		10/01/22		331,182
	125,000		New York Transportation Development Corp			1.360		12/01/21		125,324
	425,000		Sustainable Energy Utility, Inc			1.550		09/15/21		425,692
	200,000	g	Warm Springs Reservation Confederated Tribe			3.050		11/01/24		206,734
			TOTAL MUNICIPAL BONDS							2,674,529

U.S. TREASURY SECURITIES - 13.1%
	250,000		United States Treasury Note			1.750		07/31/21		251,426
	285,000		United States Treasury Note			1.625		12/31/21		288,318
	860,000		United States Treasury Note			0.125		06/30/22		860,202
	835,000		United States Treasury Note			0.125		10/31/22		834,902
	1,500,000		United States Treasury Note			2.625		12/31/23		1,595,566
	495,000		United States Treasury Note			0.250		03/15/24		493,685
			TOTAL U.S. TREASURY SECURITIES							4,324,099

			TOTAL GOVERNMENT BONDS							11,949,302
			(Cost $11,710,816)

326

TIAA-CREF FUNDS - Short Duration Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

STRUCTURED ASSETS - 15.9%

ASSET BACKED - 12.0%
$	200,226	g	HERO Funding Trust			4.050	%	09/20/41	$	209,428
			Series - 2016 1A (Class A)
	314,428	g	HERO Funding Trust			3.910		09/20/42		324,598
			Series - 2016 3A (Class A2)
	212,947	g	HERO Funding Trust			2.720		09/20/57		215,531
			Series - 2020 1A (Class A)
	147,000	g,i	Invitation Homes Trust	LIBOR 1 M + 1.650%		1.758		01/17/38		147,845
			Series - 2018 SFR4 (Class D)
	207,432	g	Mosaic Solar Loan Trust			2.100		04/20/46		209,417
			Series - 2020 1A (Class A)
	462,271	g	Mosaic Solar Loan Trust			1.440		08/20/46		450,313
			Series - 2020 2A (Class A)
	44,442	g	Renew			3.670		09/20/52		47,184
			Series - 2017 1A (Class A)
	77,450	g	SolarCity LMC			4.800		09/20/48		80,002
			Series - 2016 A (Class A)
	484,198	g	Sunrun Atlas Issuer LLC			3.610		02/01/55		511,051
			Series - 2019 2 (Class A)
	429,082	g	Sunrun Callisto Issuer LLC			3.980		06/30/54		457,680
			Series - 2019 1A (Class A)
	39,595	g	Tesla Auto Lease Trust			3.710		08/20/21		39,681
			Series - 2018 B (Class A)
	131,868	g	Tesla Auto Lease Trust			2.130		04/20/22		132,720
			Series - 2019 A (Class A2)
	250,000	g	Tesla Auto Lease Trust			2.200		11/21/22		255,984
			Series - 2019 A (Class A4)
	250,000	g	Tesla Auto Lease Trust			0.560		03/20/25		249,826
			Series - 2021 A (Class A3)
	585,240	g	Vivint Colar Financing V LLC			7.370		04/30/48		623,071
			Series - 2018 1A (Class B)
			TOTAL ASSET BACKED							3,954,331

OTHER MORTGAGE BACKED - 3.9%
	250,000	g,i	Alen Mortgage Trust	LIBOR 1 M + 2.250%		2.356		04/15/34		250,075
			Series - 2021 ACEN (Class C)
	50,458	i	Connecticut Avenue Securities	LIBOR 1 M + 3.000%		3.109		07/25/24		49,745
			Series - 2014 C03 (Class 1M2)
	72,211	i	Connecticut Avenue Securities	LIBOR 1 M + 2.200%		2.309		01/25/30		72,912
			Series - 2017 C05 (Class 1M2)
	5,365	g,i	Connecticut Avenue Securities	LIBOR 1 M + 0.800%		0.909		01/25/40		5,365
			Series - 2020 R01 (Class 1M1)
	100,000	g,i	DBUBS Mortgage Trust			5.615		07/10/44		98,739
			Series - 2011 LC2A (Class D)
	200,000		GS Mortgage Securities Trust			2.922		05/10/49		210,276
			Series - 2016 GS2 (Class AAB)
	250,000	g,i	Natixis Commercial Mortgage Securities Trust	LIBOR 1 M + 1.500%		1.606		07/15/36		250,728
			Series - 2019 MILE (Class A)
	250,000	g,i	Natixis Commercial Mortgage Securities Trust	LIBOR 1 M + 4.250%		4.356		07/15/36		246,089
			Series - 2019 MILE (Class F)
	28,326	g,i	OBX Trust	LIBOR 1 M + 0.650%		0.759		06/25/57		28,382
			Series - 2018 1 (Class A2)

327

TIAA-CREF FUNDS - Short Duration Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	27,523	g,i	Sequoia Mortgage Trust			3.500	%	02/25/50	$	27,694
			Series - 2020 1 (Class A4)
	60,447	g,i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 1.100%		1.209		07/27/50		60,476
			Series - 2020 HQA2 (Class M1)
			TOTAL OTHER MORTGAGE BACKED							1,300,481

			TOTAL STRUCTURED ASSETS							5,254,812
			(Cost $5,175,934)

			TOTAL BONDS							31,050,493
			(Cost $30,542,140)

SHORT-TERM INVESTMENTS - 4.1%

GOVERNMENT AGENCY DEBT - 4.1%
	462,000		Federal Farm Credit Bank (FFCB)			0.010		04/01/21		462,000
	879,000		Tennessee Valley Authority (TVA)			0.010		04/07/21		879,000
			TOTAL GOVERNMENT AGENCY DEBT							1,341,000

			TOTAL SHORT-TERM INVESTMENTS							1,341,000
			(Cost $1,340,998)

			TOTAL INVESTMENTS - 99.7%							32,890,453
			(Cost $32,379,476)
			OTHER ASSETS & LIABILITIES, NET - 0.3%							106,038
			NET ASSETS - 100.0%						$	32,996,491


		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 3/31/2021, the aggregate value of these securities is $11,985,202 or 36.3% 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.

328

TIAA-CREF FUNDS - Short-Term Bond Fund

TIAA-CREF FUNDS

SHORT-TERM BOND FUND

SCHEDULE OF INVESTMENTS

March 31, 2021

PRINCIPAL			ISSUER		REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

BANK LOAN OBLIGATIONS - 1.7%

CAPITAL GOODS - 0.1%
$	689,500	i	American Builders & Contractors Supply Co, Inc		LIBOR 1 M + 2.000%		2.109	%	01/15/27	$	683,467
	1,339,875	i	Gardner Denver, Inc		LIBOR 1 M + 2.750%		2.850		03/01/27		1,335,962
			TOTAL CAPITAL GOODS								2,019,429

COMMERCIAL & PROFESSIONAL SERVICES - 0.0%
	323,823	i	Prime Security Services Borrower LLC	LIBOR 1 and 3 M + 2.750%			3.500		09/23/26		322,305
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES								322,305

CONSUMER SERVICES - 0.3%
	1,496,212	i	1011778 BC ULC		LIBOR 1 M + 1.750%		1.859		11/19/26		1,467,694
	1,943,891	i	Hilton Worldwide Finance LLC		LIBOR 1 M + 1.750%		1.859		06/22/26		1,924,939
	812,612	i	KFC Holding Co		LIBOR 1 M + 1.750%		1.856		03/09/28		811,937
	1,950,000	i	Wyndham Hotels & Resorts, Inc		LIBOR 1 M + 1.750%		1.859		05/30/25		1,927,790
			TOTAL CONSUMER SERVICES								6,132,360

DIVERSIFIED FINANCIALS - 0.0%
	727,841	i	Reynolds Group Holdings, Inc		LIBOR 1 M + 2.750%		2.859		02/06/23		724,319
			TOTAL DIVERSIFIED FINANCIALS								724,319

HEALTH CARE EQUIPMENT & SERVICES - 0.1%
	970,225	i	HCA, Inc		LIBOR 1 M + 1.750%		1.859		03/13/25		969,187
	605,935	i	HCA, Inc		LIBOR 1 M + 1.750%		1.859		03/17/26		605,365
			TOTAL HEALTH CARE EQUIPMENT & SERVICES								1,574,552

HOUSEHOLD & PERSONAL PRODUCTS - 0.0%
	1,000,000	i	Energizer Holdings, Inc		LIBOR 1 M + 2.250%		2.750		12/16/27		994,580
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS								994,580

MATERIALS - 0.0%
	180,066	i	WR Grace & Co-Conn		LIBOR 3 M + 1.750%		1.953		04/03/25		178,435
	307,895	i	WR Grace & Co-Conn		LIBOR 3 M + 1.750%		1.953		04/03/25		305,105
			TOTAL MATERIALS								483,540

MEDIA & ENTERTAINMENT - 0.4%
	1,293,500	i	Asplundh Tree Expert LLC		LIBOR 1 M + 1.750%		1.859		09/02/27		1,289,257
	3,467,321	i	Charter Communications Operating LLC		LIBOR 1 M + 1.750%		1.860		04/30/25		3,458,271
	1,383,524	i	CSC Holdings LLC		LIBOR 1 M + 2.250%		2.356		07/17/25		1,363,062
	939,715	i	Nielsen Finance LLC		LIBOR 1 M + 2.000%		2.103		10/04/23		937,808
	1,290,299	i	Outfront Media Capital LLC		LIBOR 1 M + 1.750%		1.861		11/18/26		1,269,976
			TOTAL MEDIA & ENTERTAINMENT								8,318,374

329

TIAA-CREF FUNDS - Short-Term Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.3%
$	1,500,000	i	Bausch Health Americas, Inc	LIBOR 1 M + 2.750%		2.859	%	11/27/25	$	1,490,445
	970,899	i	Elanco Animal Health Inc	LIBOR 1 M + 1.750%		1.865		08/01/27		957,374
	1,000,000	i	Horizon Therapeutics USA, Inc	LIBOR 1 M + 2.000%		2.125		05/22/26		995,940
	2,219,803	i	PPD, Inc	LIBOR 1 M + 2.250%		2.750		01/13/28		2,206,729
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES							5,650,488

SOFTWARE & SERVICES - 0.2%
	947,378	i	IQVIA, Inc	LIBOR 1 M + 1.750%		1.859		03/07/24		942,167
	1,021,125	i	IQVIA, Inc	LIBOR 3 M + 1.750%		1.953		06/11/25		1,014,314
	1,877,048	i	Open Text Corp	LIBOR 1 M + 1.750%		1.859		05/30/25		1,876,260
			TOTAL SOFTWARE & SERVICES							3,832,741

TECHNOLOGY HARDWARE & EQUIPMENT - 0.2%
	1,807,706	i	Dell International LLC	LIBOR 1 M + 1.750%		2.000		09/19/25		1,805,284
	1,471,753	i	Western Digital Corp	LIBOR 1 M + 1.750%		1.865		04/29/23		1,469,309
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT							3,274,593

TRANSPORTATION - 0.1%
	1,822,746	i	Avis Budget Car Rental LLC	LIBOR 1 M + 2.250%		2.360		08/06/27		1,775,190
			TOTAL TRANSPORTATION							1,775,190

UTILITIES - 0.0%
	565,487	i	Vistra Operations Co LLC	LIBOR 1 M + 1.750%		1.858		12/31/25		561,093
			TOTAL UTILITIES							561,093

			TOTAL BANK LOAN OBLIGATIONS							35,663,564
			(Cost $35,830,164)

BONDS - 93.0%

CORPORATE BONDS - 34.3%

BANKS - 10.7%
	2,000,000	g	Banco Bradesco S.A.			2.850		01/27/23		2,042,000
	2,100,000	g	Banco de Credito del Peru			2.700		01/11/25		2,161,950
	2,375,000	g	Banco del Estado de Chile			2.704		01/09/25		2,475,682
	2,500,000	g	Banco do Brasil SA/Cayman			4.750		03/20/24		2,650,525
	750,000	g	Banco Santander Mexico S.A.			4.125		11/09/22		783,000
	2,000,000	g	Banco Santander Mexico S.A. Institucion de Banca Multiple Grupo Financiero Santand			5.375		04/17/25		2,245,600
	5,125,000		Bancolombia S.A.			3.000		01/29/25		5,235,188
	10,000,000		Bank of America Corp			3.550		03/05/24		10,550,742
	10,000,000		Bank of America Corp			1.486		05/19/24		10,165,088
	8,000,000		Bank of America Corp			0.981		09/25/25		7,979,196
	1,505,000		Bank of Montreal			2.900		03/26/22		1,543,810
	6,200,000	g	Bank of Montreal			2.100		06/15/22		6,332,923
	1,720,000		Citigroup, Inc			4.500		01/14/22		1,775,745
	3,000,000		Citigroup, Inc			3.142		01/24/23		3,062,280
	9,000,000		Citigroup, Inc			2.876		07/24/23		9,270,504
	15,000,000		Citigroup, Inc			1.678		05/15/24		15,305,550
	500,000		Citigroup, Inc			0.776		10/30/24		499,660
	5,000,000		Cooperatieve Rabobank UA			0.375		01/12/24		4,973,944
	1,825,000	g	Credicorp Ltd			2.750		06/17/25		1,859,675

330

TIAA-CREF FUNDS - Short-Term Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	10,000,000	g	Dexia Credit Local S.A.		2.875	%	01/29/22	$	10,213,138
	4,000,000	g	Dexia Credit Local S.A.		2.375		09/20/22		4,117,488
	1,555,000		Discover Bank		3.200		08/09/21		1,566,741
	650,000		Discover Bank		3.350		02/06/23		680,039
	5,000,000	g	DNB Boligkreditt AS.		3.250		06/28/23		5,310,846
	1,250,000		HSBC USA, Inc		3.500		06/23/24		1,351,001
	1,485,000		Huntington National Bank		3.125		04/01/22		1,522,505
	2,800,000	g	Itau Unibanco Holding S.A.		3.250		01/24/25		2,850,204
	1,445,000		JPMorgan Chase & Co		3.200		01/25/23		1,517,842
	8,700,000		JPMorgan Chase & Co		3.207		04/01/23		8,936,105
	10,000,000		JPMorgan Chase & Co		2.776		04/25/23		10,240,558
	12,000,000		JPMorgan Chase & Co		1.514		06/01/24		12,249,030
	5,000,000		JPMorgan Chase & Co		4.023		12/05/24		5,424,609
	725,000		JPMorgan Chase & Co		0.563		02/16/25		719,610
	6,320,000		KeyBank NA		3.300		02/01/22		6,478,873
	3,000,000		Mitsubishi UFJ Financial Group, Inc		2.623		07/18/22		3,082,817
	5,000,000		Mitsubishi UFJ Financial Group, Inc		0.848		09/15/24		5,005,076
	2,875,000		National Bank of Canada		0.550		11/15/24		2,867,696
	2,000,000	g	NBK SPC Ltd		2.750		05/30/22		2,042,448
	2,000,000		Royal Bank of Canada		2.800		04/29/22		2,054,038
	5,000,000		Royal Bank of Scotland Group plc		3.875		09/12/23		5,361,888
	1,625,000		Royal Bank of Scotland Group plc		2.359		05/22/24		1,676,558
	5,000,000	g	Skandinaviska Enskilda Banken AB		0.550		09/01/23		4,998,303
	2,500,000	g	Sovcombank Via SovCom Capital DAC		3.400		01/26/25		2,469,343
	3,000,000	g	State Bank of India		4.000		01/24/22		3,069,360
	5,000,000		Sumitomo Mitsui Financial Group, Inc		0.508		01/12/24		4,977,168
	5,000,000	g	Sumitomo Mitsui Trust Bank Ltd		0.800		09/12/23		5,013,921
	2,100,000	g	Svenska Handelsbanken AB		0.625		06/30/23		2,107,327
	1,000,000		Synchrony Bank		3.000		06/15/22		1,026,999
	3,000,000		Toronto-Dominion Bank		0.750		06/12/23		3,021,785
	5,000,000		Toronto-Dominion Bank		0.450		09/11/23		4,994,928
	1,680,000		Truist Financial Corp		3.750		12/06/23		1,819,305
	5,000,000	g	UBS AG.		0.450		02/09/24		4,958,972
	2,425,000		Wells Fargo & Co		1.654		06/02/24		2,477,244
	3,000,000		Westpac Banking Corp		2.800		01/11/22		3,059,754
			TOTAL BANKS						230,176,581

CAPITAL GOODS - 1.3%
	1,500,000		Air Lease Corp		3.375		06/01/21		1,506,837
	3,721,000		Air Lease Corp		2.250		01/15/23		3,818,712
	4,400,000	g	BOC Aviation Ltd		3.500		10/10/24		4,714,864
	5,000,000		Boeing Co		1.433		02/04/24		5,063,482
	2,500,000	g	DAE Funding LLC		2.625		03/20/25		2,511,299
	3,000,000		Honeywell International, Inc		0.483		08/19/22		3,002,272
	5,000,000		John Deere Capital Corp		0.450		01/17/24		4,997,834
	42,000		Johnson Controls International plc		3.750		12/01/21		42,421
	3,000,000	g	TSMC Global Ltd		0.750		09/28/25		2,928,918
	272,000		United Technologies Corp		3.650		08/16/23		290,982
			TOTAL CAPITAL GOODS						28,877,621

COMMERCIAL & PROFESSIONAL SERVICES - 0.2%
	2,000,000		ADT Corp		4.125		06/15/23		2,077,500
	3,000,000		IHS Markit Ltd		4.125		08/01/23		3,214,830
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES						5,292,330

331

TIAA-CREF FUNDS - Short-Term Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

CONSUMER DURABLES & APPAREL - 0.1%
$	1,455,000		Lennar Corp		4.875	%	12/15/23	$	1,589,340
			TOTAL CONSUMER DURABLES & APPAREL						1,589,340

CONSUMER SERVICES - 0.1%
	2,000,000		Sands China Ltd		4.600		08/08/23		2,138,780
			TOTAL CONSUMER SERVICES						2,138,780

DIVERSIFIED FINANCIALS - 5.8%
	7,000,000		AerCap Ireland Capital DAC		3.150		02/15/24		7,293,610
	2,050,000		American Express Co		2.750		05/20/22		2,101,063
	3,000,000		American Honda Finance Corp		0.875		07/07/23		3,020,938
	5,000,000		American Honda Finance Corp		0.550		07/12/24		4,963,862
	1,000,000		Ameriprise Financial, Inc		3.000		03/22/22		1,026,064
	5,000,000	g	Banco BTG Pactual S.A.		2.750		01/11/26		4,730,000
	1,325,000	g	BBVA Bancomer S.A.		1.875		09/18/25		1,326,656
	4,000,000		Capital One Bank USA NA		3.375		02/15/23		4,201,561
	1,355,000		Capital One Financial Corp		4.750		07/15/21		1,371,758
	3,000,000		Credit Suisse AG.		1.000		05/05/23		3,016,346
	5,000,000		Credit Suisse AG.		0.495		02/02/24		4,943,589
	3,000,000		Discover Financial Services		3.850		11/21/22		3,152,228
	16,800,000	g	Federation des Caisses Desjardins du Quebec		1.950		09/26/22		17,199,645
	2,000,000		General Motors Financial Co, Inc		3.450		01/14/22		2,040,147
	2,170,000		General Motors Financial Co, Inc		3.150		06/30/22		2,231,074
	5,000,000		General Motors Financial Co, Inc		3.550		07/08/22		5,179,423
	5,000,000		General Motors Financial Co, Inc		1.700		08/18/23		5,092,153
	3,910,000		General Motors Financial Co, Inc		3.950		04/13/24		4,208,093
	5,000,000		Goldman Sachs Group, Inc		2.876		10/31/22		5,066,495
	3,000,000		Goldman Sachs Group, Inc		0.627		11/17/23		3,000,540
	5,000,000		Goldman Sachs Group, Inc		0.673		03/08/24		4,996,076
	6,105,000		Morgan Stanley		3.125		01/23/23		6,392,235
	5,000,000		Morgan Stanley		0.529		01/25/24		4,990,886
	7,000,000	g	Nationwide Building Society		1.700		02/13/23		7,174,015
	1,125,000	g	REC Ltd		4.750		05/19/23		1,192,722
	300,000		State Street Corp		2.825		03/30/23		307,359
	7,000,000		Toyota Motor Credit Corp		0.500		08/14/23		7,003,137
	4,725,000	g	UBS Group AG		1.008		07/30/24		4,752,472
	5,000,000		Unilever Capital Corp		3.000		03/07/22		5,128,088
			TOTAL DIVERSIFIED FINANCIALS						127,102,235

ENERGY - 2.7%
	1,700,000		BP Capital Markets America, Inc		2.520		09/19/22		1,748,139
	3,000,000		Canadian Natural Resources Ltd		2.050		07/15/25		3,033,573
	5,000,000		Chevron Corp		1.141		05/11/23		5,086,793
	2,230,000	g	Energean Israel Finance Ltd		4.500		03/30/24		2,246,638
	5,000,000		Energy Transfer Operating LP		4.500		04/15/24		5,452,796
	2,000,000	g	GS Caltex Corp		3.000		06/04/24		2,120,455
	4,000,000	g	Leviathan Bond Ltd		5.750		06/30/23		4,185,525
	4,000,000		Marathon Petroleum Corp		4.500		05/01/23		4,290,140
	1,000,000		Marathon Petroleum Corp		4.700		05/01/25		1,123,913
	4,000,000		MPLX LP		3.375		03/15/23		4,190,407
	3,336,000		Occidental Petroleum Corp		2.700		08/15/22		3,337,251
	662,000		ONEOK, Inc		4.250		02/01/22		675,918

332

TIAA-CREF FUNDS - Short-Term Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	2,200,000	g	Pertamina Persero PT		4.875	%	05/03/22	$	2,285,749
	1,500,000		Petroleos Mexicanos		5.375		03/13/22		1,534,035
	530,000		Petroleos Mexicanos		2.000		12/20/22		537,804
	2,000,000		Petroleos Mexicanos		3.500		01/30/23		2,025,000
	625,500		Petroleos Mexicanos		2.378		04/15/25		647,355
	1,000,000		Petroleos Mexicanos		4.500		01/23/26		992,800
	1,350,000		Phillips 66		0.900		02/15/24		1,350,347
	1,000,000		Sabine Pass Liquefaction LLC		6.250		03/15/22		1,038,556
	5,000,000	g	Saudi Arabian Oil Co		1.250		11/24/23		5,034,418
	5,000,000	g	Saudi Arabian Oil Co		2.875		04/16/24		5,265,783
			TOTAL ENERGY						58,203,395

FOOD & STAPLES RETAILING - 0.2%
	5,000,000		Walmart, Inc		2.350		12/15/22		5,174,211
			TOTAL FOOD & STAPLES RETAILING						5,174,211

FOOD, BEVERAGE & TOBACCO - 0.8%
	1,850,000		BAT Capital Corp		3.222		08/15/24		1,970,923
	2,000,000		Constellation Brands, Inc		2.650		11/07/22		2,062,632
	2,000,000		Constellation Brands, Inc		3.200		02/15/23		2,092,768
	2,940,000		General Mills, Inc		3.150		12/15/21		2,977,385
	1,000,000	g	Lamb Weston Holdings, Inc		4.625		11/01/24		1,037,720
	5,000,000		PepsiCo, Inc		0.400		10/07/23		5,016,896
	3,000,000		Philip Morris International, Inc		1.125		05/01/23		3,043,819
	1,300,000		Tyson Foods, Inc		2.250		08/23/21		1,307,677
			TOTAL FOOD, BEVERAGE & TOBACCO						19,509,820

HEALTH CARE EQUIPMENT & SERVICES - 1.0%
	612,000		CVS Health Corp		3.700		03/09/23		649,496
	4,925,000		CVS Health Corp		2.625		08/15/24		5,196,918
	1,665,000	g	SBA Tower Trust		2.836		01/15/25		1,746,539
	13,365,000	g	SBA Tower Trust		1.884		01/15/26		13,525,921
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						21,118,874

INSURANCE - 0.4%
	3,000,000	g	MassMutual Global Funding II		0.850		06/09/23		3,025,009
	5,000,000	g	Protective Life Global Funding		0.473		01/12/24		4,960,308
			TOTAL INSURANCE						7,985,317

MATERIALS - 1.8%
	5,000,000	g	Air Liquide Finance S.A.		1.750		09/27/21		5,030,423
	6,250,000	g	Berry Global, Inc		0.950		02/15/24		6,220,563
	1,000,000		Celulosa Arauco y Constitucion S.A.		4.500		08/01/24		1,083,760
	3,000,000	g	Fresnillo plc		5.500		11/13/23		3,330,030
	3,000,000	g	Indonesia Asahan Aluminiu		5.230		11/15/21		3,078,600
	1,250,000	g	MEGlobal Canada ULC		5.000		05/18/25		1,389,050
	1,350,000	g	Midwest Connector Capital Co LLC		3.625		04/01/22		1,369,309
	2,200,000		Newmont Goldcorp Corp		3.625		06/09/21		2,200,769
	1,553,000		Nutrien Ltd		3.625		03/15/24		1,668,178
	2,000,000	g	NV Chemicals Corp		5.250		08/01/23		2,012,500
	2,000,000	g	OCP S.A.		5.625		04/25/24		2,171,546
	1,550,000	g	SABIC Capital II BV		4.000		10/10/23		1,670,372
	3,000,000		Sasol Financing International plc		4.500		11/14/22		3,064,710

333

TIAA-CREF FUNDS - Short-Term Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	3,000,000		WRKCo, Inc		3.000	%	09/15/24	$	3,187,594
			TOTAL MATERIALS						37,477,404

MEDIA & ENTERTAINMENT - 0.6%
	5,100,000		Charter Communications Operating LLC		4.464		07/23/22		5,319,067
	3,000,000		Comcast Corp		3.000		02/01/24		3,201,447
	2,000,000	g	Tencent Holdings Ltd		3.280		04/11/24		2,131,060
	3,000,000		Walt Disney Co		1.650		09/01/22		3,055,223
			TOTAL MEDIA & ENTERTAINMENT						13,706,797

PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 2.2%
	18,000,000		AbbVie, Inc		2.300		11/21/22		18,521,932
	4,450,000		AbbVie, Inc		3.800		03/15/25		4,861,801
	3,000,000		Bristol-Myers Squibb Co		2.550		05/14/21		3,007,213
	2,500,000		Bristol-Myers Squibb Co		2.600		05/16/22		2,564,200
	5,875,000		Gilead Sciences, Inc		0.750		09/29/23		5,881,822
	5,000,000	g	Royalty Pharma plc		0.750		09/02/23		4,995,033
	2,000,000		Teva Pharmaceutical Finance Co BV		2.950		12/18/22		2,005,000
	4,000,000		Teva Pharmaceutical Financial IV BV		3.650		11/10/21		4,030,000
	1,100,000	g	Viatris, Inc		1.125		06/22/22		1,105,974
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						46,972,975

REAL ESTATE - 1.4%
	2,000,000		American Tower Corp		2.250		01/15/22		2,027,927
	2,000,000		American Tower Corp		3.375		05/15/24		2,144,234
	1,450,000		AvalonBay Communities, Inc		3.500		11/15/24		1,576,525
	2,600,000		Boston Properties LP		3.125		09/01/23		2,737,103
	1,044,000		Brandywine Operating Partnership LP		4.100		10/01/24		1,126,546
	3,000,000		Brixmor Operating Partnership LP		3.650		06/15/24		3,227,993
	2,994,000		CubeSmart LP		4.375		12/15/23		3,255,803
	5,000,000		Essex Portfolio LP		3.875		05/01/24		5,403,375
	410,000		Federal Realty Investment Trust		3.950		01/15/24		444,883
	850,000		Highwoods Realty LP		3.625		01/15/23		882,716
	2,500,000		Kimco Realty Corp		3.400		11/01/22		2,603,793
	3,300,000		RKPF Overseas 2019 A Ltd		6.700		09/30/24		3,499,650
	1,500,000		Welltower, Inc		3.750		03/15/23		1,583,790
			TOTAL REAL ESTATE						30,514,338

RETAILING - 0.1%
	1,600,000	g	Volkswagen Group of America Finance LLC		3.125		05/12/23		1,681,149
			TOTAL RETAILING						1,681,149

SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.2%
	3,600,000	g	SK Hynix, Inc		1.500		01/19/26		3,542,688
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT						3,542,688

SOFTWARE & SERVICES - 0.8%
	5,000,000		Adobe, Inc		1.900		02/01/25		5,169,143
	5,000,000		Fidelity National Information Services, Inc		0.600		03/01/24		4,971,044
	5,146,000		Fiserv, Inc		3.500		10/01/22		5,339,521
	2,100,000	g	HCL America, Inc		1.375		03/10/26		2,062,189
			TOTAL SOFTWARE & SERVICES						17,541,897

334

TIAA-CREF FUNDS - Short-Term Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

TECHNOLOGY HARDWARE & EQUIPMENT - 0.1%
$	1,850,000		Apple, Inc		1.700	%	09/11/22	$	1,889,816
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						1,889,816

TELECOMMUNICATION SERVICES - 1.1%
	7,000,000		AT&T, Inc		2.625		12/01/22		7,216,887
	4,440,000		AT&T, Inc		4.450		04/01/24		4,870,035
	5,000,000	g	T-Mobile USA, Inc		3.500		04/15/25		5,394,400
	7,039,000	g	Verizon Communications, Inc		1.680		10/30/30		6,530,336
			TOTAL TELECOMMUNICATION SERVICES						24,011,658

TRANSPORTATION - 0.2%
	1,100,000		Delta Air Lines, Inc		3.400		04/19/21		1,099,989
	2,200,000	g	Transnet SOC Ltd		4.000		07/26/22		2,238,257
			TOTAL TRANSPORTATION						3,338,246

UTILITIES - 2.5%
	2,000,000	g	AIG Global Funding		0.800		07/07/23		2,011,168
	3,000,000		Atmos Energy Corp		0.625		03/09/23		3,001,135
	3,225,000		Consumers Energy Co		0.350		06/01/23		3,219,667
	3,000,000		DTE Energy Co		2.250		11/01/22		3,076,820
	2,000,000	g	Hanwha Energy USA Holdings Corp		2.375		07/30/22		2,046,325
	2,000,000	g	KSA Sukuk Ltd		2.894		04/20/22		2,048,599
	3,050,000		NextEra Energy Capital Holdings, Inc		2.900		04/01/22		3,126,816
	5,000,000		NextEra Energy Capital Holdings, Inc		0.650		03/01/23		5,015,986
	5,000,000		ONE Gas, Inc		1.100		03/11/24		4,998,575
	3,000,000	g	State Grid Overseas Investment Ltd		2.750		05/04/22		3,062,486
	3,000,000	g	Tengizchevroil Finance Co International Ltd		2.625		08/15/25		3,022,008
	7,020,000		WEC Energy Group, Inc		0.550		09/15/23		7,005,568
	13,950,000		Xcel Energy, Inc		0.500		10/15/23		13,936,575
			TOTAL UTILITIES						55,571,728

			TOTAL CORPORATE BONDS						743,417,200
			(Cost $733,072,009)

GOVERNMENT BONDS - 35.7%

AGENCY SECURITIES - 4.5%
	8,500,000		Federal Home Loan Mortgage Corp (FHLMC)		0.250		08/24/23		8,501,937
	16,250,000		FHLMC		0.250		09/08/23		16,246,862
	8,000,000		FHLMC		0.250		11/06/23		7,993,988
	15,000,000		Federal National Mortgage Association (FNMA)		0.250		07/10/23		15,011,453
	10,500,000		FNMA		0.250		11/27/23		10,488,122
	10,000,000		FNMA		0.500		06/17/25		9,904,200
	2,280,000	g	Hospital for Special Surgery		3.500		01/01/23		2,321,747
	845,000	g	Montefiore Medical Center		3.896		05/20/27		848,739
	5,900,000		Private Export Funding Corp (PEFCO)		1.750		11/15/24		6,126,882
	5,263,158		Reliance Industries Ltd		1.870		01/15/26		5,424,753
	5,000,000		Reliance Industries Ltd		2.060		01/15/26		5,177,575
	6,578,947		Reliance Industries Ltd		2.444		01/15/26		6,876,163
	1,157,058		San Clemente Leasing LLC		3.030		11/22/22		1,180,280
			TOTAL AGENCY SECURITIES						96,102,701

335

TIAA-CREF FUNDS - Short-Term Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

FOREIGN GOVERNMENT BONDS - 11.1%
$	3,325,000	g	Arab Petroleum Investments Corp		4.125	%	09/18/23	$	3,593,903
	48,047		Argentina Republic Government International Bond		1.000		07/09/29		17,225
	790,550		Argentina Republic Government International Bond (Step Bond)		0.125		07/09/30		264,479
	7,000,000	g	Bermuda Government International Bond		4.138		01/03/23		7,376,320
	4,000,000	g	BNG Bank NV		3.125		11/08/21		4,070,934
	3,250,000		Brazilian Government International Bond		2.625		01/05/23		3,354,065
	2,500,000		Brazilian Government International Bond		2.875		06/06/25		2,524,875
	5,000,000	g	Caisse d’Amortissement de la Dette Sociale		0.375		09/23/25		4,869,639
	10,000,000	g	CDP Financial, Inc		0.875		06/10/25		10,009,032
	2,500,000	g	Development Bank of Japan, Inc		0.500		03/04/24		2,493,838
	1,725,000	g	Egypt Government International Bond		5.577		02/21/23		1,794,429
	1,500,000	g	Egypt Government International Bond		4.550		11/20/23		1,533,719
	3,200,000		Export-Import Bank of India		4.000		01/14/23		3,362,909
	4,000,000	e	Export-Import Bank of Korea		0.750		09/21/25		3,912,138
	1,700,000	g	Fondo MIVIVIENDA S.A.		3.500		01/31/23		1,768,017
	1,500,000	g	Honduras Government International Bond		7.500		03/15/24		1,627,500
	8,900,000	g	International Development Association		2.750		04/24/23		9,352,120
	1,500,000		Japan Bank for International Cooperation		1.875		04/20/21		1,501,065
	6,100,000		Japan Bank for International Cooperation		1.750		01/23/23		6,253,328
	6,650,000	g	Japan Finance Organization for Municipalities		3.375		09/27/23		7,104,655
	4,500,000	g	Japan Finance Organization for Municipalities		3.000		03/12/24		4,806,493
	1,560,000	g	Kommunalbanken AS.		2.750		02/05/24		1,660,887
	10,000,000	g	Kommunalbanken AS.		0.375		09/11/25		9,747,700
	5,667,000	g	Kommuninvest I Sverige AB		2.625		09/15/22		5,861,548
	5,400,000	g	Kommuninvest I Sverige AB		0.250		12/01/22		5,400,503
	1,400,000	g	Korea Electric Power Corp		1.125		06/15/25		1,390,041
	6,700,000	g	Korea Housing Finance Corp		2.000		10/11/21		6,756,385
	1,875,000	g	Korea Housing Finance Corp		3.000		10/31/22		1,945,112
	9,000,000		Kreditanstalt fuer Wiederaufbau		0.625		01/22/26		8,846,628
	500,000	g	Kuwait Government International Bond		2.750		03/20/22		510,736
	16,000,000		Landwirtschaftliche Rentenbank		0.875		09/03/30		14,694,470
	10,000,000		Mexico Government International Bond		2.659		05/24/31		9,430,800
	2,025,000	g	Morocco Government International Bond		4.250		12/11/22		2,121,690
	3,000,000	g	Morocco Government International Bond		2.375		12/15/27		2,898,107
	1,500,000	g	Namibia International Bonds		5.500		11/03/21		1,520,161
	400,000	g	Nederlandse Waterschapsbank NV		2.125		11/15/21		404,683
	5,950,000	g	OMERS Finance Trust		2.500		05/02/24		6,296,092
	15,000,000	g	Ontario Teachers’ Finance Trust		1.625		09/12/24		15,485,188
	2,000,000	g	Perusahaan Penerbit SBSN Indonesia III		3.400		03/29/22		2,050,640
	5,000,000	g	Perusahaan Penerbit SBSN Indonesia III		3.750		03/01/23		5,265,400
	3,400,000	g	Perusahaan Penerbit SBSN Indonesia III		3.900		08/20/24		3,684,070
	10,400,000		Province of British Columbia Canada		1.300		01/29/31		9,783,917
	1,300,000		Province of New Brunswick Canada		8.750		05/01/22		1,411,798
	5,000,000		Province of Ontario Canada		1.125		10/07/30		4,609,850
	3,000,000	g	Qatar Government International Bond		3.375		03/14/24		3,216,934
	4,000,000	g	Qatar Government International Bond		4.000		03/14/29		4,531,892
	6,800,000		Republic of Italy Government International Bond		2.375		10/17/24		7,094,417
	1,500,000	g	Republic of Paraguay Government International Bond		4.625		01/25/23		1,578,765
	2,000,000	g	Republic of Uzbekistan Government International Bond		4.750		02/20/24		2,104,930
	5,625,000	g	Saudi Government International Bond		2.375		10/26/21		5,682,044
	500,000	g	Senegal Goverment International Bond		8.750		05/13/21		500,100

336

TIAA-CREF FUNDS - Short-Term Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	6,540,000		Svensk Exportkredit AB			1.750	%	12/12/23	$	6,767,005
	5,000,000		Svensk Exportkredit AB			0.500		08/26/25		4,901,050
			TOTAL FOREIGN GOVERNMENT BONDS							239,744,226

MORTGAGE BACKED - 2.0%
	1,733		Federal National Mortgage Association (FNMA)			5.500		09/25/22		1,768
	611		FNMA			5.000		09/25/24		24
	19,784,864		Government National Mortgage Association (GNMA)			1.730		07/15/37		19,478,463
	22,349,586		GNMA			4.250		09/15/38		24,334,506
			TOTAL MORTGAGE BACKED							43,814,761

MUNICIPAL BONDS - 2.0%
	5,000,000		Bay Area Toll Authority			2.254		04/01/24		5,227,661
	19,755,000		City of New York NY			2.280		08/01/25		20,805,172
	10,000,000		Massachusetts Water Resources Authority			2.083		08/01/25		10,531,065
	6,000,000		Massachusetts Water Resources Authority			3.104		08/01/39		6,282,074
			TOTAL MUNICIPAL BONDS							42,845,972

U.S. TREASURY SECURITIES - 16.1%
	11,331,100	k	United States Treasury Inflation Indexed Bonds			0.125		01/15/23		11,883,491
	11,209,300	k	United States Treasury Inflation Indexed Bonds			0.625		01/15/24		12,152,603
	59,505,000		United States Treasury Note			1.500		09/30/21		59,937,341
	27,750,000		United States Treasury Note			1.625		12/31/21		28,073,027
	21,290,000		United States Treasury Note			0.125		06/30/22		21,294,990
	27,700,000		United States Treasury Note			0.125		10/31/22		27,696,754
	800,000		United States Treasury Note			0.125		01/31/23		799,625
	185,299,000		United States Treasury Note			0.250		03/15/24		184,806,800
			TOTAL U.S. TREASURY SECURITIES							346,644,631

			TOTAL GOVERNMENT BONDS							769,152,291
			(Cost $763,277,209)

STRUCTURED ASSETS - 23.0%

ASSET BACKED - 11.6%
	110,372		Aames Mortgage Trust (Step Bond)			7.396		06/25/32		111,872
			Series - 2002 1 (Class A3)
	461,538	†,i	ARTS Ltd	LIBOR 3 M + 1.780%		1.964		09/15/21		458,769
			Series - 2016 53 (Class NOTE)
	3,471,127	g,i	Ashford Hospitality Trust	LIBOR 1 M + 0.900%		1.006		04/15/35		3,464,833
			Series - 2018 ASHF (Class A)
	55,677	†,g	Asset Backed Funding Corp NIM Trust			5.900		07/26/35		1
			Series - 2005 WMC1 (Class N1)
	1,633,702	i	Asset Backed Securities Corp Home Equity Loan Trust	LIBOR 1 M + 1.650%		1.756		03/15/32		1,640,209
			Series - 2002 HE1 (Class M1)
	362,548	g	Bank of The West Auto Trust			2.110		01/15/23		363,540
			Series - 2017 1 (Class A3)
	930,570	i	Bear Stearns Asset Backed Securities Trust	LIBOR 1 M + 1.230%		1.339		08/25/43		929,819
			Series - 2005 SD1 (Class 1M3)

337

TIAA-CREF FUNDS - Short-Term Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	1,834,044	g	Capital Automotive REIT			3.870	%	04/15/47	$	1,837,105
			Series - 2017 1A (Class A1)
	2,500,000	i	Capital One Multi-Asset Execution Trust	LIBOR 1 M + 0.630%		0.736		02/15/24		2,500,680
			Series - 2016 A2 (Class A2)
	2,170,504		Carmax Auto Owner Trust			3.360		09/15/23		2,211,742
			Series - 2018 4 (Class A3)
	1,260,518		Carmax Auto Owner Trust			3.050		03/15/24		1,284,425
			Series - 2019 1 (Class A3)
	8,600,000		Carmax Auto Owner Trust			0.740		10/15/26		8,492,958
			Series - 2021 1 (Class B)
	2,201,049	†,g	CDO Repack SPC Ltd			0.000		05/20/30		2,257,793
			Series - 2006 CLF1 (Class D1)
	2,327		Centex Home Equity			5.540		01/25/32		2,402
			Series - 2002 A (Class AF6)
	62,846	i	Centex Home Equity	LIBOR 1 M + 0.645%		0.754		03/25/34		61,943
			Series - 2004 B (Class M1)
	10,164,135	g	CF Hippolyta LLC			1.690		07/15/60		10,240,121
			Series - 2020 1 (Class A1)
	122,341	i	Chase Funding Mortgage Loan Asset-Backed Certificates			5.700		02/26/35		125,879
			Series - 2004 2 (Class 1M2)
	4,000,000	i	Chase Issuance Trust	LIBOR 1 M + 0.550%		0.656		06/15/23		4,004,626
			Series - 2016 A3 (Class A3)
	2,000,000	i	Citibank Credit Card Issuance Trust	LIBOR 1 M + 0.370%		0.474		08/08/24		2,008,212
			Series - 2017 A7 (Class A7)
	2,000,000	i	Citibank Credit Card Issuance Trust	LIBOR 1 M + 0.330%		0.441		01/20/25		2,007,665
			Series - 2018 A2 (Class A2)
	459,582	g	Credit-Based Asset Servicing & Securitization LLC (Step Bond)			4.945		12/25/37		467,974
			Series - 2007 SP1 (Class A4)
	3,500,000	i	Discover Card Execution Note Trust	LIBOR 1 M + 0.230%		0.336		12/15/23		3,501,252
			Series - 2018 A3 (Class A3)
	2,000,000	i	Discover Card Execution Note Trust	LIBOR 1 M + 0.330%		0.436		08/15/25		2,008,671
			Series - 2018 A2 (Class A2)
	2,425,000	g,i	Domino’s Pizza Master Issuer LLC	LIBOR 3 M + 1.250%		1.468		07/25/47		2,424,854
			Series - 2017 1A (Class A2I)
	14,550,000	g	Domino’s Pizza Master Issuer LLC			3.082		07/25/47		14,573,134
			Series - 2017 1A (Class A2II)
	3,500,000		Drive Auto Receivables Trust			0.830		05/15/24		3,512,481
			Series - 2020 2 (Class A3)
	335,782		Entergy Louisiana Investment Recovery Funding I LLC			2.040		09/01/23		336,524
			Series - 2011 A (Class A1)
	3,967,179	g	FNA VI LLC			1.350		01/10/32		3,961,083
			Series - 2021 1A (Class A)
	5,900,000		Ford Credit Auto Lease Trust			0.470		05/15/24		5,878,132
			Series - 2021 A (Class B)
	3,000,000		Ford Credit Auto Owner Trust			1.040		08/15/24		3,028,592
			Series - 2020 A (Class A3)
	2,000,000		Ford Credit Auto Owner Trust			1.350		07/15/25		2,042,167
			Series - 2020 A (Class A4)
	4,500,000		Ford Credit Auto Owner Trust			0.700		10/15/26		4,464,943
			Series - 2021 A (Class B)
	750,000	†,i	Garanti Diversified Payment Rights Finance Co	LIBOR 3 M + 3.172%		3.397		10/09/21		744,750
			Series - 2016 A (Class A)

338

TIAA-CREF FUNDS - Short-Term Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	1,306,082		GM Financial Consumer Automobile Receivables Trust			3.210	%	10/16/23	$	1,325,318
			Series - 2018 4 (Class A3)
	3,350,000		GM Financial Consumer Automobile Receivables Trust			0.750		05/17/27		3,326,574
			Series - 2021 1 (Class B)
	1,596,464		Honda Auto Receivables Owner Trust			2.830		03/20/23		1,620,712
			Series - 2019 1 (Class A3)
	6,500,000	g	Hyundai Auto Lease Securitization Trust			0.610		10/15/25		6,493,149
			Series - 2021 A (Class B)
	1,862,718	g,i	Invitation Homes Trust	LIBOR 1 M + 0.900%		1.006		06/17/37		1,866,170
			Series - 2018 SFR2 (Class A)
	9,087,103	g,i	Invitation Homes Trust	LIBOR 1 M + 1.000%		1.108		07/17/37		9,104,082
			Series - 2018 SFR3 (Class A)
	1,563,000	g,i	Invitation Homes Trust	LIBOR 1 M + 1.650%		1.758		01/17/38		1,571,981
			Series - 2018 SFR4 (Class D)
	1,000,000	g,i	Irvine Core Office Trust			3.174		05/15/48		1,048,729
			Series - 2013 IRV (Class A2)
	4,530,803	g,i	KKR Industrial Portfolio Trust	LIBOR 1 M + 2.030%		2.136		03/15/37		4,535,067
			Series - 2020 AIP (Class D)
	675,003	g	Mid-State Capital Trust			7.000		12/15/45		698,896
			Series - 2010 1 (Class B)
	8,000,000	g	MMAF Equipment Finance LLC			2.010		12/12/24		8,208,476
			Series - 2019 B (Class A3)
	5,804,319	g	Navient Private Education Refi Loan Trust			0.840		05/15/69		5,785,736
			Series - 2021 A (Class A)
	1,110,458	g	New Residential Mortgage LLC			4.690		05/25/23		1,110,162
			Series - 2018 FNT1 (Class D)
	1,025,086	g	New Residential Mortgage LLC			4.920		07/25/54		1,025,345
			Series - 2018 FNT2 (Class D)
	3,000,000	g	Oportun Funding XIV LLC			1.210		03/08/28		2,998,973
			Series - 2021 A (Class A)
	2,503,306	i	Park Place Securities, Inc	LIBOR 1 M + 1.245%		1.354		01/25/36		2,512,596
			Series - 2005 WCH1 (Class M4)
	7,000,000	g	PFS Financing Corp			0.710		04/15/26		6,964,278
			Series - 2021 A (Class A)
	2,205,701	g	Progress Residential Trust			2.768		08/17/34		2,219,336
			Series - 2017 SFR1 (Class A)
	5,500,000	g	Santander Consumer Auto Receivables Trust			0.710		08/17/26		5,467,797
			Series - 2021 AA (Class B)
	2,500,000		SCE Recovery Funding LLC			0.861		11/15/31		2,422,792
	2,500,000	g	ServiceMaster Funding LLC			2.841		10/30/51		2,553,175
			Series - 2020 1 (Class A2I)
	5,000,000	g	SERVPRO Master Issuer LLC			2.394		04/25/51		4,939,475
			Series - 2021 1A (Class A2)
	5,000,000	g	Sierra Timeshare Receivables Funding LLC			0.990		11/20/37		4,987,566
			Series - 2021 1A (Class A)
	481,310	g	SoFi Professional Loan Program LLC			2.360		12/27/32		486,735
			Series - 2016 C (Class A2B)
	881,655	g	SoFi Professional Loan Program LLC			2.340		04/25/33		898,064
			Series - 2016 D (Class A2B)
	720,811	g	SoFi Professional Loan Program LLC			2.510		08/25/33		722,421
			Series - 2015 C (Class A2)

339

TIAA-CREF FUNDS - Short-Term Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	341,721	g	SoFi Professional Loan Program LLC			2.630	%	07/25/40	$	347,190
			Series - 2017 C (Class A2B)
	3,750,000	g	Stack Infrastructure Issuer LLC			1.893		08/25/45		3,759,148
			Series - 2020 1A (Class A2)
	1,100,000		Synchrony Card Issuance Trust			3.380		09/15/24		1,115,524
			Series - 2018 A1 (Class A)
	392,622	g	Tax Ease Funding LLC			3.131		06/15/28		393,470
			Series - 2016 1A (Class A)
	487,477	g	TCF Auto Receivables Owner Trust			2.920		10/17/22		487,932
			Series - 2016 PT1A (Class B)
	8,964,201	g	TES LLC			4.330		10/20/47		9,317,756
			Series - 2017 1A (Class A)
	6,700,000	g	Tesla Auto Lease Trust			0.660		03/20/25		6,693,548
			Series - 2021 A (Class A4)
	5,000,000	g	Tesla Auto Lease Trust			1.020		03/20/25		4,993,249
			Series - 2021 A (Class B)
	1,012,374		Toyota Auto Receivables Owner			2.050		09/15/22		1,013,102
			Series - 2017 B (Class A4)
	1,228,506		Toyota Auto Receivables Owner			3.180		03/15/23		1,244,569
			Series - 2018 D (Class A3)
	2,136,752	g	Tricon American Homes Trust			2.716		09/17/34		2,150,797
			Series - 2017 SFR1 (Class A)
	10,905,000		Verizon Owner Trust			3.380		04/20/23		11,154,987
			Series - 2018 A (Class B)
	9,000,000		Verizon Owner Trust			3.020		09/20/23		9,304,678
			Series - 2019 A (Class B)
	17,500,000		Verizon Owner Trust			0.680		02/20/25		17,489,902
			Series - 2020 B (Class B)
	3,500,000		Volkswagen Auto Loan Enhanced Trust			0.980		11/20/24		3,535,125
			Series - 2020 1 (Class A3)
	1,500,000		Volkswagen Auto Loan Enhanced Trust			1.260		08/20/26		1,525,884
			Series - 2020 1 (Class A4)
			TOTAL ASSET BACKED							250,369,617

OTHER MORTGAGE BACKED - 11.4%
	374,732	g,i	ACE Securities Corp Manufactured Housing Trust			6.500		08/15/30		391,839
			Series - 2003 MH1 (Class M1)
	4,650,000	g,i	ACRE Commercial Mortgage Ltd	LIBOR 1 M + 0.830%		0.938		12/18/37		4,635,522
			Series - 2021 FL4 (Class A)
	3,145,000	g,i	Angel Oak Mortgage Trust			3.161		12/25/59		3,214,435
			Series - 2020 1 (Class M1)
	3,000,000	g,i	Atrium Hotel Portfolio Trust	LIBOR 1 M + 0.950%		1.056		06/15/35		2,999,048
			Series - 2018 ATRM (Class A)
	32,896	i	Banc of America Funding	LIBOR 1 M + 0.800%		0.911		02/20/35		32,941
			Series - 2005 A (Class 5A3)
	4,119,000	g,i	BBCMS Trust	LIBOR 1 M + 1.000%		1.106		07/15/37		4,114,019
			Series - 2018 CBM (Class A)
	1,149,961	i	Bear Stearns ALT-A Trust	LIBOR 1 M + 0.600%		0.709		06/25/34		1,165,870
			Series - 2004 4 (Class A1)
	1,280,510	g,i	BHP Trust	LIBOR 1 M + 0.975%		1.081		08/15/36		1,280,126
			Series - 2019 BXHP (Class A)
	2,100,000	g,i	BX Commercial Mortgage Trust	LIBOR 1 M + 1.300%		1.406		11/15/35		2,099,999
			Series - 2018 IND (Class D)

340

TIAA-CREF FUNDS - Short-Term Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	3,385,840	g,i	BX Commercial Mortgage Trust	LIBOR 1 M + 1.250%		1.356	%	10/15/36	$	3,385,839
			Series - 2019 XL (Class C)
	1,781,389	g,i	BX Commercial Mortgage Trust	LIBOR 1 M + 1.120%		1.226		12/15/36		1,779,783
			Series - 2020 BXLP (Class C)
	4,488,730	g,i	Chase Mortgage Trust			3.750		12/25/45		4,653,064
			Series - 2016 SH2 (Class M2)
	25,213		Citicorp Mortgage Securities Trust			5.500		02/25/26		25,500
			Series - 2006 1 (Class 5A1)
	1,470,763	g,i	Citigroup Mortgage Loan Trust	LIBOR 1 M + 0.145%		2.631		09/25/36		1,419,015
			Series - 2006 AMC1 (Class A1)
	3,623,360	g	COMM Mortgage Trust			3.397		03/10/46		3,708,487
			Series - 2013 CR6 (Class B)
	2,014,904		COMM Mortgage Trust			4.701		03/10/47		2,183,715
			Series - 2014 UBS2 (Class B)
	2,000,000	i	COMM Mortgage Trust			4.703		08/10/47		2,191,069
			Series - 2014 CR19 (Class B)
	1,000,000	g,i	COMM Mortgage Trust			4.709		08/10/47		960,913
			Series - 2014 CR19 (Class D)
	3,000,000	i	COMM Mortgage Trust			3.463		08/10/48		2,699,919
			Series - 2015 CR24 (Class D)
	3,970,000	i	COMM Mortgage Trust			4.534		08/10/48		4,354,506
			Series - 2015 CR25 (Class B)
	1,193,291	i	Connecticut Avenue Securities	LIBOR 1 M + 2.600%		2.709		05/25/24		1,173,225
			Series - 2014 C02 (Class 1M2)
	5,032,237	i	Connecticut Avenue Securities	LIBOR 1 M + 3.000%		3.109		07/25/24		4,961,101
			Series - 2014 C03 (Class 1M2)
	3,257,893	i	Connecticut Avenue Securities	LIBOR 1 M + 0.850%		0.959		09/25/29		3,180,856
			Series - 2017 C02 (Class 2ED4)
	10,010,797	i	Connecticut Avenue Securities	LIBOR 1 M + 1.350%		1.459		09/25/29		10,025,779
			Series - 2017 C02 (Class 2ED3)
	11,560,020	i	Connecticut Avenue Securities	LIBOR 1 M + 2.200%		2.309		01/25/30		11,672,209
			Series - 2017 C05 (Class 1M2)
	2,212,421	i	Connecticut Avenue Securities	LIBOR 1 M + 2.650%		2.759		02/25/30		2,230,729
			Series - 2017 C06 (Class 1M2)
	1,612,453	i	Connecticut Avenue Securities	LIBOR 1 M + 0.850%		0.959		10/25/30		1,601,882
			Series - 2018 C03 (Class 1EA2)
	327,646	g,i	Connecticut Avenue Securities	LIBOR 1 M + 0.750%		0.859		01/25/40		327,541
			Series - 2020 R02 (Class 2M1)
	536,495	g,i	Connecticut Avenue Securities	LIBOR 1 M + 0.800%		0.909		01/25/40		536,494
			Series - 2020 R01 (Class 1M1)
	3,000,000	g,i	Connecticut Avenue Securities	LIBOR 1 M + 2.000%		2.109		01/25/40		2,990,651
			Series - 2020 R02 (Class 2M2)
	2,523,039	g	Credit Suisse Commercial Mortgage Trust			3.304		09/15/37		2,578,196
			Series - 2014 USA (Class A1)
	112,470		Credit Suisse First Boston Mortgage Securities Corp			5.750		09/25/33		115,017
			Series - 2003 23 (Class 3A4)
	4,150,000	g,i	Credit Suisse Mortgage Capital Certificates	LIBOR 1 M + 0.980%		1.086		05/15/36		4,153,860
			Series - 2019 ICE4 (Class A)
	1,400,000	g	CSMC			2.816		08/15/37		1,433,497
			Series - 2020 NET (Class B)
	3,800,000	g,i	DBUBS Mortgage Trust			5.615		07/10/44		3,801,674
			Series - 2011 LC2A (Class C)
	1,600,000	g,i	DBUBS Mortgage Trust			5.615		07/10/44		1,579,817
			Series - 2011 LC2A (Class D)

341

TIAA-CREF FUNDS - Short-Term Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	104,316		Deutsche Mortgage Securities, Inc Mortgage Loan Trust (Step Bond)			5.940	%	07/25/34	$	104,780
			Series - 2004 5 (Class A5B)
	1,050,000	g	GS Mortgage Securities Corp II			3.419		10/10/32		1,073,385
			Series - 2017 SLP (Class A)
	3,000,000	g	GS Mortgage Securities Corp II			2.954		11/05/34		3,032,936
			Series - 2012 BWTR (Class A)
	2,598,000	g,i	GS Mortgage Securities Corp II			4.403		02/10/46		2,350,539
			Series - 2013 GC10 (Class D)
	2,000,000	g,i	GS Mortgage Securities Trust	LIBOR 1 M + 1.090%		1.196		10/15/31		1,998,189
			Series - 2018 HART (Class A)
	1,321,000	g,i	GS Mortgage Securities Trust			3.349		07/10/52		1,391,304
			Series - 2019 GC40 (Class DBA)
	9,000,000	g,i	GS Mortgage Securities Trust			3.501		07/10/52		9,421,447
			Series - 2019 GC40 (Class DBB)
	4,000,000	g,i	GS Mortgage Securities Trust			3.550		07/10/52		4,131,126
			Series - 2019 GC40 (Class DBC)
	393,168		IMC Home Equity Loan Trust (Step Bond)			5.432		08/20/29		405,676
			Series - 1998 3 (Class A7)
	99,330	i	Impac CMB Trust	LIBOR 1 M + 0.660%		0.769		03/25/35		101,472
			Series - 2004 11 (Class 2A1)
	68,096	g	JP Morgan Chase Commercial Mortgage Securities Corp			4.717		02/15/46		68,034
			Series - 2011 C3 (Class A4)
	6,170,000	g,i	JP Morgan Chase Commercial Mortgage Securities Corp			5.360		02/15/46		5,552,374
			Series - 2011 C3 (Class C)
	600,000	g	JP Morgan Chase Commercial Mortgage Securities Trust			4.021		07/05/32		615,580
			Series - 2012 HSBC (Class C)
	998,197	g	JP Morgan Chase Commercial Mortgage Securities Trust			4.070		11/15/43		1,000,692
			Series - 2010 C2 (Class A3)
	3,843,000	i	JP Morgan Chase Commercial Mortgage Securities Trust			4.078		01/15/46		4,029,865
			Series - 2013 C13 (Class C)
	2,000,000	g,i	JP Morgan Chase Commercial Mortgage Securities Trust			5.013		02/15/46		2,029,399
			Series - 2011 C3 (Class B)
	2,300,000		JP Morgan Chase Commercial Mortgage Securities Trust			2.870		08/15/49		2,426,925
			Series - 2016 JP3 (Class A5)
	1,545,586	g,i	JP Morgan Mortgage Trust			3.500		01/25/47		1,547,782
			Series - 2017 1 (Class A3)
	242,040	g,i	JP Morgan Mortgage Trust	LIBOR 1 M + 0.950%		1.059		10/25/49		243,754
			Series - 2019 INV1 (Class A11)
	349,731		JPMBB Commercial Mortgage Securities Trust			3.657		09/15/47		367,545
			Series - 2014 C23 (Class ASB)
	5,000,000	g,i	Merit	LIBOR 1 M + 1.150%		1.256		08/15/37		5,015,671
			Series - 2020 HILL (Class A)
	2,200,000	g,i	Merit	LIBOR 1 M + 1.700%		1.806		08/15/37		2,208,385
			Series - 2020 HILL (Class C)

342

TIAA-CREF FUNDS - Short-Term Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	1,876,185	g	Morgan Stanley Bank of America Merrill Lynch Trust			3.989	%	12/15/46	$	1,965,399
			Series - 2014 C19 (Class LNC1)
	199,756	i	Morgan Stanley Capital I Trust	LIBOR 1 M + 0.825%		0.934		08/25/34		197,892
			Series - 2004 HE6 (Class M1)
	2,500,000	g,i	Natixis Commercial Mortgage Securities Trust	LIBOR 1 M + 1.500%		1.606		07/15/36		2,507,281
			Series - 2019 MILE (Class A)
	7,500,000	g,i	Natixis Commercial Mortgage Securities Trust	LIBOR 1 M + 2.200%		2.306		07/15/36		7,511,979
			Series - 2019 MILE (Class C)
	1,000,000	g	Natixis Commercial Mortgage Securities Trust			2.966		12/15/38		1,036,568
			Series - 2020 2PAC (Class A)
	757,648	g,i	New Residential Mortgage Loan Trust			3.750		05/28/52		799,987
			Series - 2015 1A (Class A3)
	804,779	g,i	New Residential Mortgage Loan Trust			3.750		05/25/54		852,784
			Series - 2014 2A (Class A3)
	508,718	g,i	New Residential Mortgage Loan Trust			3.750		11/25/54		541,884
			Series - 2014 3A (Class AFX3)
	892,294	g,i	New Residential Mortgage Loan Trust			3.750		03/25/56		942,218
			Series - 2016 1A (Class A1)
	1,063,175	g,i	New Residential Mortgage Loan Trust			4.000		02/25/57		1,140,109
			Series - 2017 1A (Class A1)
	1,471,956	g,i	New Residential Mortgage Loan Trust			4.000		12/25/57		1,571,304
			Series - 2018 1A (Class A1A)
	1,057,190	g,i	New Residential Mortgage Loan Trust			4.750		12/25/57		1,116,849
			Series - 2018 5A (Class A1)
	1,404,244	g,h,i	OBX Trust	LIBOR 1 M + 0.650%		0.759		06/25/57		1,407,051
			Series - 2018 1 (Class A2)
	4,433,506	g,i	OBX Trust	LIBOR 1 M + 0.750%		0.859		07/25/58		4,434,594
			Series - 2018 EXP2 (Class 2A1A)
	2,000,000	g	RBS Commercial Funding, Inc Trust			3.511		03/11/31		2,011,048
			Series - 2013 SMV (Class B)
	827,305	g,i	Sequoia Mortgage Trust			4.000		12/25/43		835,113
			Series - 2013 12 (Class A1)
	68,559	g,i	Sequoia Mortgage Trust			3.500		02/25/47		68,796
			Series - 2017 1 (Class A4)
	156,102	g,i	Sequoia Mortgage Trust			3.500		02/25/47		156,604
			Series - 2017 2 (Class A4)
	1,589,056	g,i	Sequoia Mortgage Trust			3.500		02/25/47		1,600,746
			Series - 2017 2 (Class A10)
	1,388,141	g,i	Sequoia Mortgage Trust			3.500		04/25/47		1,391,737
			Series - 2017 3 (Class A4)
	506,613	g,i	Sequoia Mortgage Trust			3.500		09/25/47		506,663
			Series - 2017 6 (Class A4)
	2,740,388	g,i	Sequoia Mortgage Trust			3.500		03/25/48		2,740,550
			Series - 2018 3 (Class A4)
	4,586,625	g,i	Sequoia Mortgage Trust			3.500		02/25/50		4,615,278
			Series - 2020 1 (Class A4)
	836,585	g,i	Sequoia Mortgage Trust			3.500		03/25/50		847,993
			Series - 2020 2 (Class A4)
	947,923	g,i	Shellpoint Co-Originator Trust			3.500		04/25/47		949,918
			Series - 2017 1 (Class A4)
	977,830	h,i	Structured Adjustable Rate Mortgage Loan Trust	LIBOR 1 M + 0.370%		0.479		07/25/34		999,738
			Series - 2004 9XS (Class A)
	4,759,067	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 3.250%		3.359		07/25/29		4,890,356
			Series - 2017 DNA1 (Class M2)

343

TIAA-CREF FUNDS - Short-Term Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	3,218,887	i	STACR	LIBOR 1 M + 1.200%		1.309	%	10/25/29	$	3,222,962
			Series - 2017 DNA2 (Class M1)
	3,500,000	i	STACR	LIBOR 1 M + 2.500%		2.609		03/25/30		3,566,441
			Series - 2017 DNA3 (Class M2)
	8,632,500	i	STACR	LIBOR 1 M + 2.500%		2.609		03/25/30		8,653,003
			Series - 2017 DNA3 (Class M2B)
	1,148,495	g,i	STACR	LIBOR 1 M + 1.100%		1.209		07/27/50		1,149,037
			Series - 2020 HQA2 (Class M1)
	18,500,000	g,i	STACR	LIBOR 1 M + 1.500%		1.609		08/25/50		18,526,068
			Series - 2020 DNA4 (Class M2AR)
	3,723,000	g,i	UBS-Citigroup Commercial Mortgage Trust			6.051		01/10/45		3,796,978
			Series - 2011 C1 (Class B)
	5,212,506	g	Verus Securitization Trust			2.724		01/25/60		5,259,155
			Series - 2020 1 (Class A3)
	1,274,000		Wells Fargo Commercial Mortgage Trust			3.539		10/15/45		1,319,565
			Series - 2012 LC5 (Class AS)
	896,000	g,i	Wells Fargo Commercial Mortgage Trust			4.759		10/15/45		910,973
			Series - 2012 LC5 (Class D)
	119,099	g	WFRBS Commercial Mortgage Trust			4.375		03/15/44		118,995
			Series - 2011 C3 (Class A4)
	2,500,000	i	WFRBS Commercial Mortgage Trust			4.204		11/15/47		2,517,002
			Series - 2014 C24 (Class B)
			TOTAL OTHER MORTGAGE BACKED							245,455,615

			TOTAL STRUCTURED ASSETS							495,825,232
			(Cost $495,336,995)

			TOTAL BONDS							2,008,394,723
			(Cost $1,991,686,213)

SHORT-TERM INVESTMENTS - 5.0%

GOVERNMENT AGENCY DEBT - 4.9%
	8,935,000		Federal Home Loan Bank (FHLB)			0.005		04/07/21		8,935,000
	20,533,000		FHLB			0.035		04/09/21		20,533,000
	10,000,000		FHLB			0.010		04/14/21		10,000,000
	10,000,000		FHLB			0.004		04/21/21		10,000,000
	10,000,000		FHLB			0.010		04/23/21		10,000,000
	15,000,000		FHLB			0.010		05/03/21		14,999,867
	14,148,000		FHLB			0.005		05/05/21		14,147,866
	16,748,000		FHLB			0.035		05/28/21		16,747,735
			TOTAL GOVERNMENT AGENCY DEBT							105,363,468

TREASURY DEBT - 0.1%
	2,484,000		United States Treasury Bill			0.033		06/01/21		2,483,937
			TOTAL TREASURY DEBT							2,483,937

344

TIAA-CREF FUNDS - Short-Term Bond Fund

SHARES			COMPANY	RATE			VALUE

INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 0.0%
	1,300,874	c	State Street Navigator Securities Lending Government Money Market Portfolio		0.030	%	$	1,300,874
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES					1,300,874

			TOTAL SHORT-TERM INVESTMENTS					109,148,279
			(Cost $109,147,356)

			TOTAL INVESTMENTS - 99.7%					2,153,206,566
			(Cost $2,136,663,733)
			OTHER ASSETS & LIABILITIES, NET - 0.3%					6,279,541
			NET ASSETS - 100.0%				$	2,159,486,107



		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.
c		Investments made with cash collateral received from securities on loan.
e		All or a portion of these securities are out on loan. The aggregate value of securities on loan is $1,271,445.
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 3/31/2021, the aggregate value of these securities is $688,453,335 or 31.9% 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.
k		Principal amount for interest accrual purposes is periodically adjusted based on changes in the Consumer Price Index.

Futures contracts outstanding as of March 31, 2021 were as follows:

Description	Number of long (short) contracts			Expiration date	Notional amount			Value			Unrealized appreciation (depreciation)
US Long Bond (CBT)		(40	)	06/21/21	$	(6,399,587	)	$	(6,183,750	)	$	215,837
US 10 Year Note (CBT)		(476	)	06/21/21		(63,916,923	)		(62,326,250	)		1,590,673
Total		(516	)		$	(70,316,510	)	$	(68,510,000	)	$	1,806,510

345

TIAA-CREF FUNDS - Short-Term Bond Index Fund

TIAA-CREF FUNDS
SHORT-TERM BOND INDEX FUND
SCHEDULE OF INVESTMENTS
March 31, 2021

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

BONDS - 99.5%

CORPORATE BONDS - 23.5%

AUTOMOBILES & COMPONENTS - 0.1%
$	200,000	General Motors Co		5.400	%	10/02/23	$	217,164
	250,000	Toyota Motor Corp		2.157		07/02/22		255,768
	500,000	Toyota Motor Corp		0.681		03/25/24		499,886
		TOTAL AUTOMOBILES & COMPONENTS						972,818

BANKS - 6.7%
	300,000	Australia & New Zealand Banking Group Ltd		2.625		05/19/22		307,940
	250,000	Australia & New Zealand Banking Group Ltd		2.050		11/21/22		256,952
	200,000	Banco Bilbao Vizcaya Argentaria S.A.		0.875		09/18/23		200,533
	400,000	Banco Santander S.A.		3.125		02/23/23		418,488
	200,000	Banco Santander S.A.		3.848		04/12/23		212,676
	300,000	Bank of America Corp		3.499		05/17/22		301,118
	200,000	Bank of America Corp		2.503		10/21/22		202,366
	500,000	Bank of America Corp		3.300		01/11/23		525,284
	1,950,000	Bank of America Corp		2.881		04/24/23		1,996,653
	500,000	Bank of America Corp		3.550		03/05/24		527,537
	500,000	Bank of America Corp		1.486		05/19/24		508,254
	1,200,000	Bank of America Corp		3.864		07/23/24		1,285,287
	1,250,000	Bank of America Corp		0.810		10/24/24		1,253,098
	250,000	Bank of America NA		3.335		01/25/23		255,982
	500,000	Bank of Montreal		2.900		03/26/22		512,894
	500,000	Bank of Montreal		2.050		11/01/22		513,519
	250,000	Bank of Montreal		0.450		12/08/23		249,179
	1,000,000	Bank of Montreal		4.338		10/05/28		1,082,885
	150,000	Bank of Nova Scotia		2.375		01/18/23		155,179
	500,000	Bank of Nova Scotia		1.950		02/01/23		514,001
	250,000	Bank of Nova Scotia		1.625		05/01/23		256,310
	500,000	Bank of Nova Scotia		0.550		09/15/23		500,102
	200,000	Bank of Nova Scotia		4.650		N/A‡		200,262
	500,000	Barclays Bank plc		1.700		05/12/22		506,910
	850,000	Barclays plc		4.610		02/15/23		878,208
	500,000	Barclays plc		1.007		12/10/24		499,589
	250,000	BBVA USA		3.500		06/11/21		250,807
	400,000	Canadian Imperial Bank of Commerce		0.950		06/23/23		403,541
	200,000	Canadian Imperial Bank of Commerce		2.606		07/22/23		205,347
	750,000	Canadian Imperial Bank of Commerce		0.500		12/14/23		747,056
	500,000	CitiBank NA		2.844		05/20/22		501,586
	500,000	Citigroup, Inc		2.750		04/25/22		511,868
	510,000	Citigroup, Inc		2.700		10/27/22		526,419
	100,000	Citigroup, Inc		2.312		11/04/22		101,064

346

TIAA-CREF FUNDS - Short-Term Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	300,000	Citigroup, Inc		3.142	%	01/24/23	$	306,228
	750,000	Citigroup, Inc		2.876		07/24/23		772,542
	1,250,000	Citigroup, Inc		1.678		05/15/24		1,275,463
	750,000	Citigroup, Inc		0.776		10/30/24		749,490
	300,000	Comerica, Inc		3.700		07/31/23		320,776
	250,000	Cooperatieve Rabobank UA		3.950		11/09/22		263,228
	250,000	Cooperatieve Rabobank UA		2.750		01/10/23		260,497
	750,000	Cooperatieve Rabobank UA		4.625		12/01/23		821,936
	1,000,000	Cooperatieve Rabobank UA		0.375		01/12/24		994,789
	500,000	Discover Bank		3.350		02/06/23		523,107
	250,000	Discover Bank		4.682		08/09/28		266,650
	300,000	Fifth Third Bancorp		1.625		05/05/23		306,596
	1,000,000	Fifth Third Bancorp		3.650		01/25/24		1,077,412
	250,000	First Horizon National Corp		3.550		05/26/23		264,271
	250,000	First Republic Bank		1.912		02/12/24		255,860
	175,000	FNB Corp		2.200		02/24/23		178,415
	500,000	HSBC Holdings plc		3.262		03/13/23		512,559
	380,000	HSBC Holdings plc		3.033		11/22/23		395,225
	1,300,000	HSBC Holdings plc		3.950		05/18/24		1,387,436
	250,000	Huntington National Bank		3.125		04/01/22		256,314
	250,000	Huntington National Bank		1.800		02/03/23		255,679
	300,000	Industrial & Commercial Bank of China Ltd		2.957		11/08/22		309,816
	200,000	ING Groep NV		3.150		03/29/22		205,511
	400,000	ING Groep NV		4.100		10/02/23		433,046
	140,000	JPMorgan Chase & Co		3.250		09/23/22		146,062
	500,000	JPMorgan Chase & Co		3.200		01/25/23		525,205
	1,450,000	JPMorgan Chase & Co		3.207		04/01/23		1,489,351
	250,000	JPMorgan Chase & Co		2.776		04/25/23		256,014
	1,000,000	JPMorgan Chase & Co		0.697		03/16/24		1,003,652
	1,000,000	JPMorgan Chase & Co		3.559		04/23/24		1,059,803
	500,000	JPMorgan Chase & Co		1.514		06/01/24		510,376
	700,000	JPMorgan Chase & Co		3.797		07/23/24		749,222
	500,000	JPMorgan Chase & Co		0.653		09/16/24		500,972
	750,000	JPMorgan Chase & Co		4.023		12/05/24		813,691
	300,000	JPMorgan Chase & Co		0.563		02/16/25		297,770
	250,000	KeyBank NA		3.375		03/07/23		264,046
	250,000	KeyBank NA		1.250		03/10/23		253,874
	750,000	KeyBank NA		0.423		01/03/24		749,350
	700,000	Lloyds Bank plc		2.250		08/14/22		717,523
	200,000	Lloyds Banking Group plc		2.858		03/17/23		204,206
	150,000	Lloyds Banking Group plc		1.326		06/15/23		151,447
	300,000	Lloyds Banking Group plc		4.050		08/16/23		323,608
	300,000	Lloyds Banking Group plc		2.907		11/07/23		310,830
	1,000,000	Lloyds Banking Group plc		0.695		05/11/24		999,567
	700,000	Mitsubishi UFJ Financial Group, Inc		2.623		07/18/22		719,324
	350,000	Mitsubishi UFJ Financial Group, Inc		3.455		03/02/23		369,048
	500,000	Mitsubishi UFJ Financial Group, Inc		3.761		07/26/23		535,672
	600,000	Mitsubishi UFJ Financial Group, Inc		0.848		09/15/24		600,609
	250,000	Mizuho Financial Group, Inc		2.601		09/11/22		257,283
	200,000	Mizuho Financial Group, Inc		2.721		07/16/23		205,447
	750,000	Mizuho Financial Group, Inc		0.849		09/08/24		751,570
	250,000	MUFG Union Bank NA		3.150		04/01/22		256,544
	250,000	MUFG Union Bank NA		2.100		12/09/22		256,702
	500,000	National Australia Bank Ltd		1.875		12/13/22		513,086

347

TIAA-CREF FUNDS - Short-Term Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	500,000		National Australia Bank Ltd		3.625	%	06/20/23	$	534,362
	250,000		National Bank of Canada		2.100		02/01/23		256,999
	250,000		National Bank of Canada		0.900		08/15/23		251,142
	250,000		National Bank of Canada		0.550		11/15/24		249,365
	250,000		PNC Bank NA		2.232		07/22/22		251,444
	250,000		PNC Bank NA		2.028		12/09/22		252,760
	250,000		PNC Bank NA		1.743		02/24/23		253,094
	500,000		PNC Bank NA		3.500		06/08/23		531,291
	500,000		PNC Financial Services Group, Inc		3.500		01/23/24		539,185
	400,000		Regions Financial Corp		3.800		08/14/23		429,041
	100,000		Royal Bank of Canada		2.800		04/29/22		102,702
	250,000		Royal Bank of Canada		1.950		01/17/23		256,808
	200,000		Royal Bank of Canada		1.600		04/17/23		204,822
	500,000		Royal Bank of Canada		0.500		10/26/23		500,400
	750,000		Royal Bank of Canada		0.425		01/19/24		745,516
	300,000		Royal Bank of Scotland Group plc		3.498		05/15/23		309,237
	1,250,000		Royal Bank of Scotland Group plc		2.359		05/22/24		1,289,660
	1,000,000		Royal Bank of Scotland Group plc		4.519		06/25/24		1,079,461
	200,000		Santander Holdings USA, Inc		3.400		01/18/23		208,811
	150,000		Santander Holdings USA, Inc		3.244		10/05/26		158,593
	450,000		Santander UK Group Holdings plc		4.796		11/15/24		495,240
	1,000,000		Santander UK Group Holdings plc		1.089		03/15/25		1,000,810
	800,000		Sumitomo Mitsui Financial Group, Inc		2.784		07/12/22		823,654
	200,000		Sumitomo Mitsui Financial Group, Inc		2.778		10/18/22		206,856
	502,000		Sumitomo Mitsui Financial Group, Inc		3.102		01/17/23		525,332
	500,000		Sumitomo Mitsui Financial Group, Inc		3.748		07/19/23		535,113
	1,000,000		Sumitomo Mitsui Financial Group, Inc		0.508		01/12/24		995,434
	250,000		Synchrony Bank		3.650		05/24/21		250,546
	250,000		Synovus Bank		2.289		02/10/23		252,121
	400,000		Toronto-Dominion Bank		1.900		12/01/22		410,474
	1,000,000		Toronto-Dominion Bank		0.250		01/06/23		998,356
	500,000		Toronto-Dominion Bank		0.750		06/12/23		503,631
	300,000		Toronto-Dominion Bank		0.450		09/11/23		299,696
	1,000,000		Toronto-Dominion Bank		0.550		03/04/24		998,667
	250,000		Truist Bank		2.800		05/17/22		256,486
	200,000	e	Truist Bank		3.502		08/02/22		202,020
	550,000		Truist Bank		1.250		03/09/23		559,755
	300,000		Truist Financial Corp		2.750		04/01/22		306,789
	200,000		Truist Financial Corp		3.050		06/20/22		206,220
	250,000		Truist Financial Corp		2.200		03/16/23		258,332
	750,000		Truist Financial Corp		3.750		12/06/23		812,190
	800,000		US Bancorp		2.950		07/15/22		826,055
	500,000		US Bank NA		3.400		07/24/23		533,902
	500,000		Wells Fargo & Co		3.450		02/13/23		526,699
	900,000		Wells Fargo & Co		4.125		08/15/23		973,643
	1,250,000		Wells Fargo & Co		4.480		01/16/24		1,375,410
	400,000		Wells Fargo & Co		1.654		06/02/24		408,618
	350,000		Wells Fargo Bank NA		2.897		05/27/22		351,323
	500,000		Wells Fargo Bank NA		2.082		09/09/22		503,812
	550,000		Westpac Banking Corp		2.500		06/28/22		564,815
	400,000		Westpac Banking Corp		2.000		01/13/23		411,740
			TOTAL BANKS						71,332,026

348

TIAA-CREF FUNDS - Short-Term Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

CAPITAL GOODS - 1.5%
$	500,000		3M Co		1.750	%	02/14/23	$	512,653
	350,000		Air Lease Corp		2.250		01/15/23		359,191
	300,000		Air Lease Corp		3.875		07/03/23		318,969
	750,000		Air Lease Corp		0.700		02/15/24		740,824
	200,000		Boeing Co		2.700		05/01/22		204,247
	800,000		Boeing Co		4.508		05/01/23		856,307
	500,000		Boeing Co		1.950		02/01/24		512,290
	1,250,000		Boeing Co		1.433		02/04/24		1,265,871
	750,000		Caterpillar Financial Services Corp		1.900		09/06/22		767,776
	1,000,000		Caterpillar Financial Services Corp		0.250		03/01/23		999,326
	750,000		Caterpillar Financial Services Corp		0.650		07/07/23		753,712
	300,000		Caterpillar Financial Services Corp		0.450		09/14/23		300,104
	200,000		CNH Industrial Capital LLC		3.875		10/15/21		203,387
	100,000		CNH Industrial Capital LLC		1.950		07/02/23		102,687
	200,000		CNH Industrial NV		4.500		08/15/23		216,733
	250,000		Eaton Corp		2.750		11/02/22		259,379
	460,000		General Dynamics Corp		3.375		05/15/23		487,761
	550,000		General Electric Co		2.700		10/09/22		568,729
	750,000		Honeywell International, Inc		0.483		08/19/22		750,568
	250,000		John Deere Capital Corp		2.950		04/01/22		256,828
	100,000		John Deere Capital Corp		1.950		06/13/22		101,983
	250,000		John Deere Capital Corp		0.550		07/05/22		250,899
	250,000		John Deere Capital Corp		2.700		01/06/23		260,373
	525,000		John Deere Capital Corp		1.200		04/06/23		533,322
	250,000		John Deere Capital Corp		0.700		07/05/23		251,935
	500,000		John Deere Capital Corp		0.400		10/10/23		500,712
	1,000,000		John Deere Capital Corp		0.450		01/17/24		999,567
	500,000		L3Harris Technologies, Inc		3.850		06/15/23		533,435
	250,000		Lockheed Martin Corp		3.100		01/15/23		261,258
	200,000		Raytheon Technologies Corp		2.800		03/15/22		204,238
	160,000		Raytheon Technologies Corp		2.500		12/15/22		164,567
	500,000		Roper Technologies, Inc		0.450		08/15/22		499,790
	500,000		Teledyne Technologies, Inc		0.650		04/01/23		499,765
	500,000		Teledyne Technologies, Inc		0.950		04/01/24		497,960
			TOTAL CAPITAL GOODS						15,997,146

COMMERCIAL & PROFESSIONAL SERVICES - 0.1%
	100,000		Equifax, Inc		3.600		08/15/21		101,154
	100,000	g	Leidos, Inc		2.950		05/15/23		104,543
	200,000		RELX Capital, Inc		3.500		03/16/23		210,658
	164,000		Republic Services, Inc		4.750		05/15/23		177,085
	500,000		Svensk Exportkredit AB		0.375		03/11/24		498,340
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES						1,091,780

CONSUMER DURABLES & APPAREL - 0.1%
	300,000		DR Horton, Inc		4.375		09/15/22		313,281
	500,000		Lennar Corp		4.875		12/15/23		546,165
	200,000		Ralph Lauren Corp		1.700		06/15/22		203,172
	125,000		VF Corp		2.050		04/23/22		127,048
			TOTAL CONSUMER DURABLES & APPAREL						1,189,666

349

TIAA-CREF FUNDS - Short-Term Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

CONSUMER SERVICES - 0.2%
$	250,000	Marriott International, Inc		3.125	%	10/15/21	$	251,471
	300,000	McDonald’s Corp		3.350		04/01/23		316,045
	500,000	Sands China Ltd		4.600		08/08/23		534,695
	600,000	Starbucks Corp		1.300		05/07/22		606,150
	200,000	Starbucks Corp		3.100		03/01/23		209,754
		TOTAL CONSUMER SERVICES						1,918,115

DIVERSIFIED FINANCIALS - 4.0%
	300,000	AerCap Ireland Capital DAC		3.950		02/01/22		306,945
	250,000	AerCap Ireland Capital DAC		4.500		09/15/23		268,902
	500,000	AerCap Ireland Capital DAC		3.150		02/15/24		520,972
	300,000	Ally Financial, Inc		4.125		02/13/22		309,137
	200,000	Ally Financial, Inc		3.050		06/05/23		209,125
	800,000	Ally Financial, Inc		1.450		10/02/23		812,111
	300,000	American Express Co		3.375		05/17/21		300,276
	200,000	American Express Co		3.700		11/05/21		203,445
	190,000	American Express Co		2.650		12/02/22		197,082
	800,000	American Express Co		3.400		02/27/23		842,012
	500,000	American Express Co		3.700		08/03/23		535,167
	250,000	American Honda Finance Corp		1.950		05/20/22		254,621
	500,000	American Honda Finance Corp		0.400		10/21/22		500,158
	250,000	American Honda Finance Corp		2.005		01/10/23		257,006
	200,000	American Honda Finance Corp		1.950		05/10/23		205,842
	750,000	American Honda Finance Corp		0.875		07/07/23		755,235
	300,000	American Honda Finance Corp		0.650		09/08/23		300,592
	750,000	American Honda Finance Corp		0.550		07/12/24		744,579
	100,000	Ameriprise Financial, Inc		3.000		03/22/22		102,606
	300,000	Ares Capital Corp		3.500		02/10/23		312,810
	100,000	Bank of New York Mellon Corp		1.950		08/23/22		102,272
	250,000	Bank of New York Mellon Corp		1.850		01/27/23		257,210
	500,000	Bank of New York Mellon Corp		2.661		05/16/23		512,998
	750,000	Bank of New York Mellon Corp		0.350		12/07/23		749,304
	800,000	Berkshire Hathaway, Inc		2.750		03/15/23		835,875
	200,000	BlackRock, Inc		3.375		06/01/22		207,187
	330,000	Capital One Bank USA NA		3.375		02/15/23		346,629
	1,000,000	Capital One Financial Corp		2.600		05/11/23		1,039,993
	100,000	Celanese US Holdings LLC		4.625		11/15/22		105,968
	350,000	Charles Schwab Corp		2.650		01/25/23		363,848
	1,000,000	Charles Schwab Corp		0.750		03/18/24		1,005,384
	250,000	Credit Suisse AG.		2.800		04/08/22		255,253
	1,000,000	Credit Suisse AG.		1.000		05/05/23		1,005,449
	750,000	Credit Suisse AG.		0.495		02/02/24		741,538
	250,000	Credit Suisse Group Funding Guernsey Ltd		3.450		04/16/21		250,232
	150,000	Deutsche Bank AG.		5.000		02/14/22		155,281
	350,000	Deutsche Bank AG.		3.300		11/16/22		363,477
	250,000	Deutsche Bank AG.		3.950		02/27/23		264,039
	300,000	Deutsche Bank AG.		2.222		09/18/24		307,940
	1,000,000	Deutsche Bank AG.		1.447		04/01/25		999,652
	200,000	Diageo Investment Corp		2.875		05/11/22		205,847
	140,000	Discover Financial Services		3.850		11/21/22		147,104
	400,000	General Motors Financial Co, Inc		3.550		04/09/21		400,141

350

TIAA-CREF FUNDS - Short-Term Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	250,000	General Motors Financial Co, Inc		4.200	%	11/06/21	$	255,397
	650,000	General Motors Financial Co, Inc		3.550		07/08/22		673,325
	300,000	General Motors Financial Co, Inc		3.250		01/05/23		312,507
	900,000	General Motors Financial Co, Inc		5.200		03/20/23		976,041
	1,000,000	General Motors Financial Co, Inc		1.700		08/18/23		1,018,431
	250,000	Goldman Sachs Group, Inc		3.000		04/26/22		250,391
	1,000,000	Goldman Sachs Group, Inc		0.481		01/27/23		998,629
	1,709,000	Goldman Sachs Group, Inc		3.200		02/23/23		1,788,364
	750,000	Goldman Sachs Group, Inc		0.523		03/08/23		750,050
	500,000	Goldman Sachs Group, Inc		0.627		11/17/23		500,090
	750,000	Goldman Sachs Group, Inc		0.673		03/08/24		749,411
	500,000	Intercontinental Exchange, Inc		0.700		06/15/23		500,496
	300,000	International Lease Finance Corp		5.875		08/15/22		320,803
	750,000	J Paul Getty Trust		0.391		01/01/24		745,131
	250,000	Jefferies Group LLC		5.125		01/20/23		269,605
	250,000	Moody’s Corp		2.625		01/15/23		259,146
	500,000	Morgan Stanley		2.750		05/19/22		513,527
	1,480,000	Morgan Stanley		3.125		01/23/23		1,549,633
	1,000,000	Morgan Stanley		0.560		11/10/23		1,000,322
	1,000,000	Morgan Stanley		0.529		01/25/24		998,177
	1,000,000	Morgan Stanley		3.737		04/24/24		1,063,115
	200,000	National Rural Utilities Cooperative Finance Corp		2.400		04/25/22		203,861
	1,000,000	National Rural Utilities Cooperative Finance Corp		0.350		02/08/24		993,737
	200,000	Northern Trust Corp		2.375		08/02/22		205,487
	300,000	Oesterreichische Kontrollbank AG.		1.625		09/17/22		306,106
	1,300,000	Oesterreichische Kontrollbank AG.		2.875		03/13/23		1,366,001
	100,000	PACCAR Financial Corp		2.650		05/10/22		102,601
	200,000	PACCAR Financial Corp		2.000		09/26/22		204,810
	300,000	PACCAR Financial Corp		0.800		06/08/23		302,832
	1,000,000	PACCAR Financial Corp		0.350		02/02/24		995,515
	400,000	Shire Acquisitions Investments Ireland DAC		2.875		09/23/23		420,304
	300,000	State Street Corp		2.653		05/15/23		307,696
	100,000	Synchrony Financial		2.850		07/25/22		102,690
	750,000	Toyota Motor Credit Corp		0.450		07/22/22		751,460
	500,000	Toyota Motor Credit Corp		0.350		10/14/22		500,168
	500,000	Toyota Motor Credit Corp		2.900		03/30/23		524,562
	500,000	Toyota Motor Credit Corp		0.500		08/14/23		500,224
	500,000	Toyota Motor Credit Corp		1.350		08/25/23		510,365
	1,000,000	Toyota Motor Credit Corp		0.450		01/11/24		997,260
	200,000	Unilever Capital Corp		3.125		03/22/23		210,899
	300,000	Unilever Capital Corp		0.375		09/14/23		300,913
		TOTAL DIVERSIFIED FINANCIALS						43,861,326

ENERGY - 1.8%
	180,000	Baker Hughes a GE Co LLC		2.773		12/15/22		186,678
	610,000	BP Capital Markets America, Inc		3.245		05/06/22		629,406
	700,000	BP Capital Markets America, Inc		2.937		04/06/23		735,245
	500,000	BP Capital Markets America, Inc		2.750		05/10/23		523,934
	250,000	Canadian Natural Resources Ltd		2.950		01/15/23		259,456
	160,000	Chevron Corp		2.355		12/05/22		164,667
	800,000	Chevron Corp		1.141		05/11/23		813,887
	500,000	Diamondback Energy, Inc		0.900		03/24/23		500,320
	750,000	Ecopetrol S.A.		5.875		09/18/23		828,375

351

TIAA-CREF FUNDS - Short-Term Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	200,000	Enbridge, Inc		2.900	%	07/15/22	$	205,668
	600,000	Energy Transfer Operating LP		5.200		02/01/22		615,567
	800,000	Energy Transfer Operating LP		4.250		03/15/23		844,283
	200,000	Energy Transfer Operating LP		4.200		09/15/23		214,175
	500,000	Energy Transfer Operating LP		5.875		01/15/24		556,587
	300,000	Enterprise Products Operating LLC		3.350		03/15/23		314,487
	300,000	EOG Resources, Inc		2.625		03/15/23		311,425
	400,000	Equinor ASA		2.450		01/17/23		414,927
	375,000	Exxon Mobil Corp		1.902		08/16/22		383,361
	600,000	Exxon Mobil Corp		1.571		04/15/23		614,706
	200,000	Halliburton Co		3.500		08/01/23		211,881
	200,000	HollyFrontier Corp		2.625		10/01/23		206,079
	450,000	Kinder Morgan Energy Partners LP		3.950		09/01/22		468,059
	400,000	Kinder Morgan, Inc		3.150		01/15/23		417,656
	51,000	Marathon Oil Corp		2.800		11/01/22		52,311
	700,000	Marathon Petroleum Corp		4.500		05/01/23		750,775
	300,000	MPLX LP		3.375		03/15/23		314,281
	250,000	Phillips 66		4.300		04/01/22		259,439
	200,000	Phillips 66		3.700		04/06/23		211,912
	325,000	Phillips 66		0.900		02/15/24		325,084
	1,000,000	Pioneer Natural Resources Co		0.750		01/15/24		996,472
	200,000	Plains All American Pipeline LP		3.650		06/01/22		204,768
	300,000	Plains All American Pipeline LP		3.850		10/15/23		317,367
	500,000	Sabine Pass Liquefaction LLC		5.625		04/15/23		542,216
	400,000	Schlumberger Investment S.A.		3.650		12/01/23		429,385
	300,000	Shell International Finance BV		2.250		01/06/23		310,133
	500,000	Shell International Finance BV		0.375		09/15/23		500,585
	300,000	Suncor Energy, Inc		2.800		05/15/23		313,375
	300,000	Total Capital Canada Ltd		2.750		07/15/23		315,963
	500,000	Total Capital International S.A.		3.700		01/15/24		543,700
	200,000	TransCanada PipeLines Ltd		2.500		08/01/22		205,637
	250,000	TransCanada PipeLines Ltd		3.750		10/16/23		266,618
	200,000	Valero Energy Corp		2.700		04/15/23		207,620
	300,000	Valero Energy Corp		1.200		03/15/24		300,904
	200,000	Williams Cos, Inc		3.700		01/15/23		209,137
	500,000	Williams Partners LP		3.600		03/15/22		512,062
	300,000	Williams Partners LP		4.500		11/15/23		326,696
		TOTAL ENERGY						18,837,269

FOOD & STAPLES RETAILING - 0.1%
	300,000	Kroger Co		2.800		08/01/22		308,550
	200,000	SYSCO Corp		2.600		06/12/22		204,997
	200,000	Walgreen Co		3.100		09/15/22		207,303
	200,000	Walgreens Boots Alliance, Inc		3.300		11/18/21		202,270
	260,000	Walmart, Inc		2.350		12/15/22		269,059
	300,000	Walmart, Inc		3.400		06/26/23		319,985
		TOTAL FOOD & STAPLES RETAILING						1,512,164

FOOD, BEVERAGE & TOBACCO - 0.9%
	200,000	Altria Group, Inc		4.750		05/05/21		200,729
	500,000	Campbell Soup Co		3.650		03/15/23		529,455
	131,000	ConAgra Brands, Inc		3.200		01/25/23		136,010
	500,000	Constellation Brands, Inc		2.700		05/09/22		510,865
	200,000	Constellation Brands, Inc		2.650		11/07/22		206,263
	100,000	Constellation Brands, Inc		3.200		02/15/23		104,638

352

TIAA-CREF FUNDS - Short-Term Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	300,000	Diageo Capital plc		2.625	%	04/29/23	$	312,538
	100,000	General Mills, Inc		3.200		04/16/21		100,087
	200,000	General Mills, Inc		2.600		10/12/22		206,408
	250,000	General Mills, Inc		3.700		10/17/23		268,068
	200,000	JM Smucker Co		3.000		03/15/22		205,023
	400,000	Kellogg Co		2.650		12/01/23		420,203
	151,000	Keurig Dr Pepper, Inc		4.057		05/25/23		162,007
	400,000	Keurig Dr Pepper, Inc		3.130		12/15/23		424,457
	1,000,000	Keurig Dr Pepper, Inc		0.750		03/15/24		1,000,320
	110,000	McCormick & Co, Inc		2.700		08/15/22		113,189
	250,000	Molson Coors Brewing Co		3.500		05/01/22		257,954
	750,000	Mondelez International, Inc		0.625		07/01/22		752,171
	300,000	PepsiCo, Inc		3.100		07/17/22		309,607
	400,000	PepsiCo, Inc		2.750		03/01/23		417,842
	750,000	PepsiCo, Inc		0.750		05/01/23		757,217
	500,000	PepsiCo, Inc		0.400		10/07/23		501,689
	250,000	Philip Morris International, Inc		2.375		08/17/22		256,730
	750,000	Philip Morris International, Inc		1.125		05/01/23		760,955
	200,000	Philip Morris International, Inc		2.125		05/10/23		206,244
	200,000	Reynolds American, Inc		4.850		09/15/23		219,617
	300,000	Tyson Foods, Inc		4.500		06/15/22		311,515
		TOTAL FOOD, BEVERAGE & TOBACCO						9,651,801

HEALTH CARE EQUIPMENT & SERVICES - 0.7%
	500,000	Abbott Laboratories		3.400		11/30/23		535,778
	1,000,000	AmerisourceBergen Corp		0.737		03/15/23		1,000,857
	800,000	Anthem, Inc		2.950		12/01/22		831,058
	500,000	Anthem, Inc		0.450		03/15/23		500,534
	256,000	Becton Dickinson & Co		2.894		06/06/22		262,634
	250,000	Cardinal Health, Inc		2.616		06/15/22		255,867
	516,000	Cigna Corp		3.750		07/15/23		551,835
	200,000	Cigna Corp		0.613		03/15/24		199,153
	670,000	CVS Health Corp		3.500		07/20/22		693,661
	731,000	CVS Health Corp		3.700		03/09/23		775,786
	300,000	HCA, Inc		4.750		05/01/23		323,353
	300,000	Humana, Inc		2.900		12/15/22		310,890
	200,000	Laboratory Corp of America Holdings		3.750		08/23/22		207,204
	750,000	Stryker Corp		0.600		12/01/23		750,462
	100,000	UnitedHealth Group, Inc		2.375		10/15/22		103,149
	300,000	UnitedHealth Group, Inc		2.875		03/15/23		314,102
	300,000	UnitedHealth Group, Inc		3.500		06/15/23		320,083
	150,000	Zimmer Biomet Holdings, Inc		3.150		04/01/22		153,212
		TOTAL HEALTH CARE EQUIPMENT & SERVICES						8,089,618

HOUSEHOLD & PERSONAL PRODUCTS - 0.1%
	750,000	Colgate-Palmolive Co		1.950		02/01/23		772,466
	200,000	Procter & Gamble Co		2.150		08/11/22		204,862
		TOTAL HOUSEHOLD & PERSONAL PRODUCTS						977,328

INSURANCE - 0.3%
	150,000	Aetna, Inc		2.750		11/15/22		154,517
	500,000	Aetna, Inc		2.800		06/15/23		521,554
	200,000	Allstate Corp		5.750		08/15/53		211,500
	300,000	American International Group, Inc		4.875		06/01/22		315,041

353

TIAA-CREF FUNDS - Short-Term Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	200,000		Aon Corp		2.200	%	11/15/22	$	205,343
	250,000		Berkshire Hathaway Finance Corp		3.000		05/15/22		257,854
	500,000		Chubb INA Holdings, Inc		2.875		11/03/22		517,154
	300,000		Prudential Financial, Inc		5.875		09/15/42		316,794
	500,000		Prudential Financial, Inc		5.625		06/15/43		535,821
			TOTAL INSURANCE						3,035,578

MATERIALS - 0.2%
	325,000	g	Berry Global, Inc		0.950		02/15/24		323,469
	200,000		Domtar Corp		4.400		04/01/22		205,444
	900,000		DowDuPont, Inc		4.205		11/15/23		977,666
	100,000		Eastman Chemical Co		3.500		12/01/21		102,035
	200,000		Ecolab, Inc		2.375		08/10/22		205,115
	120,000		Mosaic Co		3.250		11/15/22		124,657
	300,000		Mosaic Co		4.250		11/15/23		324,009
	300,000		Nucor Corp		4.125		09/15/22		312,679
	300,000		Nutrien Ltd		1.900		05/13/23		307,676
	200,000		Praxair, Inc		2.200		08/15/22		204,049
	15,000		Sherwin-Williams Co		2.750		06/01/22		15,336
			TOTAL MATERIALS						3,102,135

MEDIA & ENTERTAINMENT - 0.5%
	250,000	g	Blackstone		3.650		07/14/23		260,667
	690,000		Charter Communications Operating LLC		4.464		07/23/22		719,638
	750,000		Charter Communications Operating LLC		4.500		02/01/24		820,305
	200,000		DH Europe Finance II Sarl		2.050		11/15/22		205,070
	158,000		Discovery Communications LLC		2.950		03/20/23		165,074
	750,000		Fox Corp		4.030		01/25/24		814,668
	100,000		Interpublic Group of Cos, Inc		3.750		10/01/21		101,671
	300,000		Omnicom Group, Inc		3.625		05/01/22		310,331
	200,000		Time Warner Entertainment Co LP		8.375		03/15/23		229,275
	500,000		Walt Disney Co		3.000		09/15/22		519,130
	200,000		WPP Finance 2010		3.625		09/07/22		208,530
			TOTAL MEDIA & ENTERTAINMENT						4,354,359

PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 1.2%
	750,000		AbbVie, Inc		2.150		11/19/21		758,444
	300,000		AbbVie, Inc		3.450		03/15/22		306,913
	300,000		AbbVie, Inc		3.250		10/01/22		310,298
	750,000		AbbVie, Inc		2.300		11/21/22		771,747
	500,000		AbbVie, Inc		2.850		05/14/23		521,540
	300,000		AbbVie, Inc		3.750		11/14/23		323,121
	300,000		Agilent Technologies, Inc		3.875		07/15/23		319,726
	300,000		Amgen, Inc		2.650		05/11/22		306,989
	300,000		Amgen, Inc		2.250		08/19/23		311,059
	600,000		AstraZeneca plc		2.375		06/12/22		613,195
	200,000		AstraZeneca plc		3.500		08/17/23		213,114
	150,000		Biogen, Inc		3.625		09/15/22		156,776
	500,000		Bristol-Myers Squibb Co		2.600		05/16/22		512,840
	818,000		Bristol-Myers Squibb Co		3.250		02/20/23		858,348
	1,000,000		Bristol-Myers Squibb Co		0.537		11/13/23		999,890
	300,000		Gilead Sciences, Inc		2.500		09/01/23		312,589
	275,000		Gilead Sciences, Inc		0.750		09/29/23		275,319
	500,000		GlaxoSmithKline Capital plc		2.875		06/01/22		512,985

354

TIAA-CREF FUNDS - Short-Term Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	375,000		GlaxoSmithKline Capital plc		0.534	%	10/01/23	$	375,506
	500,000		GlaxoSmithKline Capital, Inc		3.375		05/15/23		531,249
	500,000		Illumina, Inc		0.550		03/23/23		499,579
	28,000		Johnson & Johnson		2.050		03/01/23		28,798
	250,000		Merck & Co, Inc		2.400		09/15/22		256,146
	500,000		Merck & Co, Inc		2.800		05/18/23		526,330
	300,000		Mylan NV		3.150		06/15/21		300,947
	300,000		Novartis Capital Corp		2.400		09/21/22		309,620
	100,000		Pfizer, Inc		3.000		09/15/21		101,241
	500,000		Pfizer, Inc		2.800		03/11/22		512,021
	500,000	g	Royalty Pharma plc		0.750		09/02/23		499,503
	300,000		Takeda Pharmaceutical Co Ltd		4.400		11/26/23		327,893
	175,000	g	Viatris, Inc		1.125		06/22/22		175,950
	200,000		Zoetis, Inc		3.250		02/01/23		208,427
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						13,038,103

REAL ESTATE - 0.4%
	500,000		American Tower Corp		4.700		03/15/22		520,297
	300,000		American Tower Corp		3.500		01/31/23		315,668
	750,000		American Tower Corp		0.600		01/15/24		748,763
	100,000		AvalonBay Communities, Inc		2.950		09/15/22		102,934
	300,000		Boston Properties LP		3.850		02/01/23		315,220
	300,000		Crown Castle International Corp		3.150		07/15/23		317,739
	100,000		Kimco Realty Corp		3.400		11/01/22		104,152
	42,000		Omega Healthcare Investors, Inc		4.375		08/01/23		45,111
	200,000		Simon Property Group LP		2.625		06/15/22		204,110
	500,000		Simon Property Group LP		2.750		06/01/23		521,106
	200,000		SL Green Operating Partnership LP		3.250		10/15/22		206,301
	300,000		Ventas Realty LP		3.125		06/15/23		313,691
			TOTAL REAL ESTATE						3,715,092

RETAILING - 0.3%
	150,000		Amazon.com, Inc		2.500		11/29/22		154,701
	200,000		Amazon.com, Inc		2.400		02/22/23		207,381
	500,000		Amazon.com, Inc		0.400		06/03/23		501,391
	300,000		AutoZone, Inc		3.125		07/15/23		315,860
	300,000		Chevron USA, Inc		0.333		08/12/22		300,226
	400,000		Chevron USA, Inc		0.426		08/11/23		400,858
	200,000		Dollar General Corp		3.250		04/15/23		210,447
	200,000		Dollar Tree, Inc		3.700		05/15/23		212,320
	306,000		eBay, Inc		2.750		01/30/23		318,643
	200,000	g	Expedia Group, Inc		3.600		12/15/23		212,870
	500,000		Home Depot, Inc		3.250		03/01/22		514,086
	400,000		Lowe’s Cos, Inc		3.750		04/15/21		400,388
	200,000		O’Reilly Automotive, Inc		3.800		09/01/22		207,385
			TOTAL RETAILING						3,956,556

SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.2%
	400,000		Analog Devices, Inc		3.125		12/05/23		425,787
	200,000		Intel Corp		3.100		07/29/22		207,168
	300,000		Intel Corp		2.700		12/15/22		312,078
	200,000		Microchip Technology, Inc		4.333		06/01/23		214,508
	200,000		Micron Technology, Inc		2.497		04/24/23		207,578
	200,000		Texas Instruments, Inc		1.850		05/15/22		203,466
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT						1,570,585

355

TIAA-CREF FUNDS - Short-Term Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

SOFTWARE & SERVICES - 1.0%
$	100,000		Adobe, Inc		1.700	%	02/01/23	$	102,528
	200,000		Baidu, Inc		3.500		11/28/22		208,598
	300,000		Baidu, Inc		3.875		09/29/23		320,617
	750,000		Fidelity National Information Services, Inc		0.375		03/01/23		747,604
	500,000		Fidelity National Information Services, Inc		3.500		04/15/23		526,557
	750,000		Fidelity National Information Services, Inc		0.600		03/01/24		745,657
	200,000		Fiserv, Inc		3.500		10/01/22		207,521
	250,000		Fiserv, Inc		3.800		10/01/23		268,768
	300,000		Global Payments, Inc		4.000		06/01/23		321,190
	840,000		International Business Machines Corp		2.850		05/13/22		863,943
	500,000		Intuit, Inc		0.650		07/15/23		502,323
	360,000		Microsoft Corp		2.650		11/03/22		372,726
	1,000,000		Microsoft Corp		2.375		05/01/23		1,038,004
	1,130,000		Oracle Corp		2.500		05/15/22		1,152,059
	120,000		Oracle Corp		2.500		10/15/22		123,836
	475,000		Oracle Corp		2.625		02/15/23		491,882
	500,000		Oracle Corp		3.625		07/15/23		533,320
	175,000		PayPal Holdings, Inc		2.200		09/26/22		179,586
	500,000		PayPal Holdings, Inc		1.350		06/01/23		508,841
	300,000		salesforce.com, Inc		3.250		04/11/23		316,910
	180,000		Visa, Inc		2.150		09/15/22		184,627
	300,000		Visa, Inc		2.800		12/14/22		311,617
	190,000		VMware, Inc		2.950		08/21/22		195,937
			TOTAL SOFTWARE & SERVICES						10,224,651

TECHNOLOGY HARDWARE & EQUIPMENT - 0.6%
	700,000		Apple, Inc		2.150		02/09/22		711,529
	375,000		Apple, Inc		1.700		09/11/22		383,071
	500,000		Apple, Inc		2.100		09/12/22		513,329
	500,000		Apple, Inc		2.400		05/03/23		522,349
	1,000,000		Apple, Inc		0.750		05/11/23		1,010,590
	600,000		Cisco Systems, Inc		3.000		06/15/22		619,729
	800,000	g	Dell International LLC		5.450		06/15/23		874,285
	300,000		Hewlett Packard Enterprise Co		2.250		04/01/23		309,009
	400,000		Hewlett Packard Enterprise Co		4.450		10/02/23		434,629
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						5,378,520

TELECOMMUNICATION SERVICES - 0.5%
	200,000		America Movil SAB de C.V.		3.125		07/16/22		206,626
	100,000		AT&T, Inc		2.625		12/01/22		103,098
	750,000		AT&T, Inc		4.050		12/15/23		819,384
	1,000,000		AT&T, Inc		0.900		03/25/24		1,002,134
	500,000		Bell Canada		0.750		03/17/24		499,339
	500,000		British Telecommunications plc		4.500		12/04/23		547,046
	1,000,000		Verizon Communications, Inc		5.150		09/15/23		1,109,107
	1,500,000		Verizon Communications, Inc		0.750		03/22/24		1,501,646
			TOTAL TELECOMMUNICATION SERVICES						5,788,380

TRANSPORTATION - 0.4%
	400,000		Burlington Northern Santa Fe LLC		3.050		09/01/22		412,530
	300,000		Burlington Northern Santa Fe LLC		3.850		09/01/23		322,028
	750,000		FedEx Corp		4.000		01/15/24		815,236

356

TIAA-CREF FUNDS - Short-Term Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	150,000		Norfolk Southern Corp		3.000	%	04/01/22	$	152,953
	200,000		Ryder System, Inc		2.875		06/01/22		204,977
	300,000		Ryder System, Inc		3.750		06/09/23		319,732
	450,000		Southwest Airlines Co		4.750		05/04/23		485,863
	200,000		Union Pacific Corp		2.950		03/01/22		204,825
	200,000		Union Pacific Corp		3.500		06/08/23		212,330
	250,000		United Parcel Service, Inc		2.450		10/01/22		257,762
	300,000		United Parcel Service, Inc		2.500		04/01/23		312,625
			TOTAL TRANSPORTATION						3,700,861

UTILITIES - 1.6%
	750,000		American Electric Power Co, Inc		0.750		11/01/23		749,837
	1,000,000		Atmos Energy Corp		0.625		03/09/23		1,000,378
	200,000		Baltimore Gas & Electric Co		3.350		07/01/23		211,366
	350,000		Berkshire Hathaway Energy Co		2.800		01/15/23		363,911
	500,000		CenterPoint Energy Resources Corp		0.700		03/02/23		499,843
	250,000		CenterPoint Energy, Inc		2.500		09/01/22		256,734
	500,000		Consolidated Edison, Inc		0.650		12/01/23		499,129
	475,000		Consumers Energy Co		0.350		06/01/23		474,215
	200,000		DTE Energy Co		2.600		06/15/22		204,725
	750,000		DTE Energy Co		0.550		11/01/22		750,120
	125,000		DTE Energy Co		2.250		11/01/22		128,201
	100,000		Duke Energy Carolinas LLC		3.350		05/15/22		103,369
	350,000		Duke Energy Carolinas LLC		3.050		03/15/23		368,047
	300,000		Duke Energy Corp		2.400		08/15/22		306,976
	200,000		Edison International		2.400		09/15/22		203,953
	100,000		Edison International		3.125		11/15/22		103,347
	200,000		Emera US Finance LP		2.700		06/15/21		200,524
	120,000		Entergy Corp		4.000		07/15/22		124,630
	750,000		Entergy Louisiana LLC		0.620		11/17/23		750,993
	160,000		Eversource Energy		2.750		03/15/22		163,226
	500,000		Exelon Corp		3.497		06/01/22		515,714
	100,000		Georgia Power Co		2.100		07/30/23		103,219
	500,000		NextEra Energy Capital Holdings, Inc		2.900		04/01/22		512,593
	1,000,000		NextEra Energy Capital Holdings, Inc		0.650		03/01/23		1,003,197
	200,000		Ohio Power Co		5.375		10/01/21		204,716
	120,000		Oncor Electric Delivery Co LLC		7.000		09/01/22		130,873
	500,000		ONE Gas, Inc		0.850		03/11/23		500,361
	500,000		ONE Gas, Inc		1.100		03/11/24		499,858
	250,000		ONEOK Partners LP		3.375		10/01/22		258,280
	750,000		Pacific Gas and Electric Co		1.750		06/16/22		751,138
	750,000		Pacific Gas and Electric Co		1.367		03/10/23		750,218
	200,000		Pacific Gas and Electric Co		4.250		08/01/23		213,354
	100,000		PPL Capital Funding, Inc		3.500		12/01/22		104,091
	500,000		PSEG Power LLC		3.850		06/01/23		533,052
	100,000		Public Service Enterprise Group, Inc		2.650		11/15/22		103,400
	200,000		Puget Energy, Inc		5.625		07/15/22		210,394
	110,000		Sempra Energy		2.875		10/01/22		113,059
	1,000,000	h	Southern California Edison Co		1.100		04/01/24		999,986
	300,000		Southern Co		2.950		07/01/23		314,189
	1,000,000		Southern Co		0.600		02/26/24		993,664
	200,000		Virginia Electric & Power Co		2.750		03/15/23		207,391
	500,000		WEC Energy Group, Inc		0.550		09/15/23		498,972

357

TIAA-CREF FUNDS - Short-Term Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	500,000	WEC Energy Group, Inc		0.800	%	03/15/24	$	499,864
	350,000	Xcel Energy, Inc		0.500		10/15/23		349,663
		TOTAL UTILITIES						17,834,770

		TOTAL CORPORATE BONDS						251,130,647
		(Cost $248,579,329)

GOVERNMENT BONDS - 76.0%

AGENCY SECURITIES - 3.1%
	1,500,000	Federal Farm Credit Bank (FFCB)		0.250		05/06/22		1,501,979
	750,000	FFCB		0.125		11/23/22		749,980
	4,000,000	Federal Farm Credit Banks Funding Corp		0.125		02/03/23		3,998,056
	330,000	Federal Farm Credit Banks Funding Corp		0.250		02/26/24		328,993
	3,000,000	Federal Home Loan Bank (FHLB)		3.000		10/12/21		3,046,847
	1,600,000	FHLB		1.625		11/19/21		1,615,864
	1,000,000	FHLB		0.250		06/03/22		1,001,544
	350,000	FHLB		0.125		08/12/22		349,790
	500,000	FHLB		0.125		10/21/22		499,694
	1,600,000	FHLB		1.375		02/17/23		1,635,967
	1,200,000	FHLB		0.125		03/17/23		1,198,609
	1,000,000	Federal Home Loan Mortgage Corp (FHLMC)		0.125		07/25/22		999,907
	2,500,000	FHLMC		0.375		04/20/23		2,509,498
	500,000	FHLMC		0.375		05/05/23		502,149
	1,000,000	FHLMC		0.250		06/26/23		1,001,011
	1,500,000	FHLMC		0.250		08/24/23		1,500,342
	650,000	FHLMC		0.250		09/08/23		649,874
	750,000	FHLMC		0.125		10/16/23		747,171
	1,000,000	FHLMC		0.250		11/06/23		999,248
	945,000	FHLMC		0.250		12/04/23		943,590
	1,000,000	Federal National Mortgage Association (FNMA)		2.000		10/05/22		1,027,906
	4,500,000	FNMA		0.250		05/22/23		4,505,661
	750,000	FNMA		0.250		07/10/23		750,573
	500,000	FNMA		0.250		11/27/23		499,434
		TOTAL AGENCY SECURITIES						32,563,687

FOREIGN GOVERNMENT BONDS - 6.9%
	600,000	African Development Bank		1.625		09/16/22		612,048
	1,600,000	African Development Bank		0.750		04/03/23		1,615,540
	400,000	Asian Development Bank		0.625		04/07/22		401,842
	2,500,000	Asian Development Bank		1.875		07/19/22		2,554,433
	1,250,000	Asian Development Bank		1.625		01/24/23		1,281,425
	1,750,000	Asian Development Bank		0.250		07/14/23		1,747,607
	500,000	Asian Development Bank		0.250		10/06/23		499,011
	750,000	Asian Infrastructure Investment Bank		0.250		09/29/23		749,026
	300,000	Chile Government International Bond		2.250		10/30/22		307,287
	250,000	Colombia Government International Bond		2.625		03/15/23		256,835
	750,000	Colombia Government International Bond		4.000		02/26/24		797,220
	550,000	Corp Andina de Fomento		3.250		02/11/22		562,067
	500,000	Corp Andina de Fomento		2.375		05/12/23		516,070
	500,000	Council of Europe Development Bank		0.250		06/10/23		499,601
	500,000	Council Of Europe Development Bank		0.250		10/20/23		498,576

358

TIAA-CREF FUNDS - Short-Term Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	500,000	European Bank for Reconstruction & Development		2.750	%	03/07/23	$	523,937
	1,000,000	European Bank for Reconstruction & Development		0.250		07/10/23		998,244
	500,000	European Investment Bank		2.625		05/20/22		513,768
	2,750,000	European Investment Bank		1.375		09/06/22		2,795,875
	3,707,000	European Investment Bank		1.375		05/15/23		3,794,849
	1,360,000	European Investment Bank		0.250		09/15/23		1,357,983
	1,500,000	European Investment Bank		3.250		01/29/24		1,619,085
	500,000	Export Development Canada		2.000		05/17/22		510,097
	1,800,000	Export Development Canada		1.375		02/24/23		1,838,111
	250,000	Export-Import Bank of Korea		3.500		11/27/21		254,984
	500,000	Export-Import Bank of Korea		2.750		01/25/22		509,360
	1,000,000	Export-Import Bank of Korea		0.375		02/09/24		994,906
	500,000	FMS Wertmanagement AoeR		2.750		03/06/23		523,848
	500,000	Hashemite Kingdom of Jordan Government AID Bond		2.578		06/30/22		514,699
	750,000	Hungary Government International Bond		5.750		11/22/23		847,585
	300,000	Indonesia Government International Bond		2.950		01/11/23		310,604
	750,000	Indonesia Government International Bond		4.450		02/11/24		817,940
	1,000,000	Inter-American Development Bank		1.750		04/14/22		1,015,913
	1,100,000	Inter-American Development Bank		2.500		01/18/23		1,145,001
	1,000,000	Inter-American Development Bank		0.500		05/24/23		1,005,060
	1,500,000	Inter-American Development Bank		0.250		11/15/23		1,495,813
	1,000,000	Inter-American Development Bank		2.625		01/16/24		1,061,180
	1,250,000	International Bank for Reconstruction & Development		2.125		07/01/22		1,279,926
	1,000,000	International Bank for Reconstruction & Development		1.875		06/19/23		1,035,477
	1,250,000	International Bank for Reconstruction & Development		0.250		11/24/23		1,246,636
	400,000	International Finance Corp		0.500		03/20/23		401,314
	500,000	International Finance Corp		2.875		07/31/23		529,452
	250,000	Israel Government International Bond		4.000		06/30/22		261,262
	500,000	Israel Government International Bond		3.150		06/30/23		528,821
	200,000	Japan Bank for International Cooperation		1.625		10/17/22		203,994
	450,000	Japan Bank for International Cooperation		1.750		01/23/23		461,311
	800,000	Japan Bank for International Cooperation		0.625		05/22/23		804,413
	500,000	Japan Bank for International Cooperation		3.250		07/20/23		532,138
	300,000	Japan Bank for International Cooperation		0.375		09/15/23		299,261
	700,000	Japan Bank for International Cooperation		3.375		10/31/23		751,682
	350,000	Korea Development Bank		3.000		03/19/22		358,615
	300,000	Korea Development Bank		3.375		03/12/23		316,647
	550,000	Korea Development Bank		0.500		10/27/23		549,984
	500,000	Korea Development Bank		0.400		03/09/24		497,450
	500,000	Korea Development Bank		0.400		06/19/24		497,509
	500,000	Korea Government International Bond		3.875		09/11/23		540,990
	500,000	Kreditanstalt fuer Wiederaufbau		2.500		02/15/22		509,984
	1,000,000	Kreditanstalt fuer Wiederaufbau		2.125		03/07/22		1,018,255
	2,000,000	Kreditanstalt fuer Wiederaufbau		1.750		08/22/22		2,043,040
	5,100,000	Kreditanstalt fuer Wiederaufbau		1.625		02/15/23		5,233,671
	500,000	Kreditanstalt fuer Wiederaufbau		0.250		10/19/23		498,991
	1,400,000	Kreditanstalt fuer Wiederaufbau		0.250		03/08/24		1,392,916
	750,000	Mexico Government International Bond		4.000		10/02/23		807,203
	500,000	Nordic Investment Bank		1.375		10/17/22		508,849
	250,000	Nordic Investment Bank		0.375		05/19/23		250,444

359

TIAA-CREF FUNDS - Short-Term Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

$	500,000	Poland Government International Bond		5.000	%	03/23/22	$	521,779
	400,000	Poland Government International Bond		3.000		03/17/23		419,689
	1,000,000	Poland Government International Bond		4.000		01/22/24		1,094,978
	400,000	Province of Alberta Canada		2.200		07/26/22		410,073
	500,000	Province of Alberta Canada		3.350		11/01/23		536,895
	750,000	Province of Alberta Canada		2.950		01/23/24		800,748
	300,000	Province of British Columbia Canada		2.000		10/23/22		308,255
	400,000	Province of Manitoba Canada		2.125		05/04/22		407,952
	300,000	Province of Ontario Canada		2.550		04/25/22		307,321
	1,000,000	Province of Ontario Canada		2.250		05/18/22		1,022,073
	1,055,000	Province of Ontario Canada		1.750		01/24/23		1,082,704
	600,000	Province of Ontario Canada		3.400		10/17/23		645,063
	1,000,000	Province of Ontario Canada		3.050		01/29/24		1,071,575
	900,000	Province of Quebec Canada		2.625		02/13/23		938,959
	1,000,000	Republic of Italy Government International Bond		6.875		09/27/23		1,147,945
	120,000	Svensk Exportkredit AB		2.375		04/09/21		120,032
	660,000	Svensk Exportkredit AB		1.625		11/14/22		674,520
	300,000	Svensk Exportkredit AB		2.875		03/14/23		314,893
	1,000,000	Svensk Exportkredit AB		0.750		04/06/23		1,009,010
		TOTAL FOREIGN GOVERNMENT BONDS						73,542,129

MUNICIPAL BONDS - 0.0%
	280,000	Port Authority of New York & New Jersey		1.086		07/01/23		284,170
		TOTAL MUNICIPAL BONDS						284,170

U.S. TREASURY SECURITIES - 66.0%
	10,000,000	United States Treasury Note		2.375		03/15/22		10,219,531
	4,750,000	United States Treasury Note		0.375		03/31/22		4,764,102
	12,000,000	United States Treasury Note		2.250		04/15/22		12,270,000
	24,000,000	United States Treasury Note		0.125		04/30/22		24,009,375
	18,000,000	United States Treasury Note		2.125		05/15/22		18,407,813
	7,000,000	United States Treasury Note		0.125		05/31/22		7,001,914
	14,000,000	United States Treasury Note		1.750		06/15/22		14,276,719
	18,500,000	United States Treasury Note		0.125		06/30/22		18,504,336
	20,000,000	United States Treasury Note		1.750		07/15/22		20,422,656
	7,800,000	United States Treasury Note		0.125		07/31/22		7,800,609
	13,000,000	United States Treasury Note		1.500		08/15/22		13,246,289
	28,500,000	United States Treasury Note		0.125		08/31/22		28,500,000
	10,000,000	United States Treasury Note		1.500		09/15/22		10,198,828
	14,000,000	United States Treasury Note		0.125		09/30/22		13,998,906
	17,400,000	United States Treasury Note		1.375		10/15/22		17,729,648
	9,250,000	United States Treasury Note		0.125		10/31/22		9,248,916
	20,000,000	United States Treasury Note		1.625		11/15/22		20,478,906
	27,250,000	United States Treasury Note		0.125		11/30/22		27,244,678
	23,000,000	United States Treasury Note		1.625		12/15/22		23,580,391
	8,000,000	United States Treasury Note		0.125		12/31/22		7,996,562
	22,000,000	United States Treasury Note		1.500		01/15/23		22,528,516
	7,000,000	United States Treasury Note		0.125		01/31/23		6,996,719
	12,000,000	United States Treasury Note		1.375		02/15/23		12,273,281
	23,000,000	United States Treasury Note		0.125		02/28/23		22,985,625
	1,000,000	United States Treasury Note		2.625		02/28/23		1,046,914
	3,750,000	United States Treasury Note		0.125		03/31/23		3,747,510
	21,500,000	United States Treasury Note		0.250		04/15/23		21,531,074
	21,500,000	United States Treasury Note		0.125		05/15/23		21,471,445

360

TIAA-CREF FUNDS - Short-Term Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE

$	18,000,000		United States Treasury Note		0.250	%	06/15/23	$	18,020,391
	17,600,000		United States Treasury Note		0.125		07/15/23		17,565,625
	16,500,000		United States Treasury Note		0.125		08/15/23		16,461,973
	6,750,000		United States Treasury Note		0.125		09/15/23		6,731,543
	33,750,000		United States Treasury Note		0.125		10/15/23		33,639,258
	46,250,000		United States Treasury Note		0.250		11/15/23		46,226,514
	33,250,000		United States Treasury Note		0.125		12/15/23		33,103,233
	16,600,000		United States Treasury Note		0.125		01/15/24		16,517,000
	48,243,000	e	United States Treasury Note		0.125		02/15/24		47,982,940
	35,000,000		United States Treasury Note		0.250		03/15/24		34,907,031
	5,000,000		United States Treasury Note		0.250		08/31/25		4,883,594
	4,000,000		United States Treasury Note		0.250		09/30/25		3,901,406
	500,000		United States Treasury Note		0.375		11/30/25		489,082
			TOTAL U.S. TREASURY SECURITIES						702,910,853

			TOTAL GOVERNMENT BONDS						809,300,839
			(Cost $805,115,297)


			TOTAL BONDS						1,060,431,486
			(Cost $1,053,694,626)

SHORT-TERM INVESTMENTS - 5.2%

GOVERNMENT AGENCY DEBT - 0.6%
	6,750,000		Federal Agricultural Mortgage Corp (FAMC)		0.010		04/01/21		6,750,000
			TOTAL GOVERNMENT AGENCY DEBT						6,750,000

SHARES			COMPANY

INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 4.6%
	48,683,289	c	State Street Navigator Securities Lending Government Money Market Portfolio		0.030				48,683,289

			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES						48,683,289

			TOTAL SHORT-TERM INVESTMENTS						55,433,289
			(Cost $55,433,289)
			TOTAL INVESTMENTS - 104.7%						1,115,864,775
			(Cost $1,109,127,915)
			OTHER ASSETS & LIABILITIES, NET - (4.7)%						(50,038,183	)
			NET ASSETS - 100.0%					$	1,065,826,592


‡		Perpetual security
c		Investments made with cash collateral received from securities on loan.
e		All or a portion of these securities are out on loan. The aggregate value of securities on loan is $47,703,659.
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 3/31/2021, the aggregate value of these securities is $2,451,287 or 0.2% of net assets.
h		All or a portion of these securities were purchased on a delayed delivery basis.

361

TIAA-CREF FUNDS - Money Market Fund

TIAA-CREF FUNDS
MONEY MARKET FUND
SCHEDULE OF INVESTMENTS
March 31, 2021

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE

SHORT-TERM INVESTMENTS - 100.1%

GOVERNMENT AGENCY DEBT - 32.2%
$	10,211,000	Federal Farm Credit Bank (FFCB)		2.420	%	04/29/21	$	10,230,220
	40,816,000	Federal Home Loan Bank (FHLB)		0.010		04/07/21		40,815,423
	8,886,000	FHLB		0.010		04/08/21		8,885,862
	26,028,000	FHLB		0.010		04/21/21		26,026,771
	600,000	FHLB		0.010		04/23/21		599,982
	23,000,000	FHLB		0.010		04/28/21		22,999,655
	1,230,000	FHLB		0.010		04/29/21		1,229,982
	21,200,000	FHLB		0.010		05/04/21		21,198,737
	39,000,000	FHLB		0.010		05/05/21		38,997,790
	11,000,000	FHLB		0.010		05/10/21		10,999,643
	7,097,000	FHLB		0.010		05/12/21		7,096,677
	10,000,000	FHLB		0.090		05/14/21		10,000,000
	10,000,000	FHLB		0.010		05/19/21		9,999,867
	1,000,000	FHLB		0.010		05/21/21		999,972
	11,753,000	FHLB		0.010		05/26/21		11,752,188
	13,000,000	FHLB		0.040		05/26/21		12,999,891
	9,500,000	FHLB		0.010		05/28/21		9,498,646
	24,293,000	FHLB		0.010		06/02/21		24,291,559
	11,500,000	FHLB		0.010		06/07/21		11,499,037
	11,500,000	FHLB		0.045		06/07/21		11,499,927
	13,500,000	FHLB		0.045		06/08/21		13,499,976
	15,504,000	FHLB		0.010		06/11/21		15,503,236
	13,000,000	FHLB		0.045		06/15/21		12,999,907
	2,591,000	FHLB		0.010		06/16/21		2,590,865
	26,900,000	FHLB		0.010		06/18/21		26,899,092
	18,180,000	FHLB		0.010		06/22/21		18,179,586
	7,500,000	FHLB		0.010		06/25/21		7,499,593
	5,000,000	FHLB		0.020		06/28/21		4,999,964
	4,625,000	FHLB		0.010		06/30/21		4,624,422
	2,686,000	FHLB		0.010		07/09/21		2,685,335
	13,500,000	FHLB		0.050		07/12/21		13,499,779
	9,700,000	FHLB		0.050		08/02/21		9,699,802
	7,917,000	FHLB		0.010		09/17/21		7,915,811
	28,000,000	FHLB		0.040		09/29/21		27,999,169
		TOTAL GOVERNMENT AGENCY DEBT						460,218,366

TREASURY DEBT - 43.1%
	18,513,000	United States Cash Management Bill		0.010		06/08/21		18,509,999
	7,000,000	United States Cash Management Bill		0.010		06/15/21		6,998,957
	13,533,000	United States Cash Management Bill		0.010		06/22/21		13,530,712
	7,099,000	United States Cash Management Bill		0.010		06/29/21		7,097,607
	16,000,000	United States Cash Management Bill		0.010		07/06/21		15,997,393
	66,721,000	United States Cash Management Bill		0.000		07/20/21		66,716,691
	14,500,000	United States Cash Management Bill		0.010		07/27/21		14,498,603
	38,270,000	United States Treasury Bill		0.010		04/01/21		38,270,000

362

TIAA-CREF FUNDS - Money Market Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE

$	26,892,000		United States Treasury Bill			0.010	%	04/06/21	$	26,891,768
	43,483,000		United States Treasury Bill			0.010		04/08/21		43,482,310
	11,668,000		United States Treasury Bill			0.010		04/13/21		11,667,765
	9,500,000		United States Treasury Bill			0.010		04/15/21		9,499,675
	3,132,000		United States Treasury Bill			0.010		04/20/21		3,131,864
	36,521,000		United States Treasury Bill			0.010		04/22/21		36,518,977
	42,395,000		United States Treasury Bill			0.010		04/27/21		42,392,346
	5,000,000		United States Treasury Bill			0.010		04/29/21		4,999,621
	2,760,000		United States Treasury Bill			0.010		05/04/21		2,759,911
	44,382,000		United States Treasury Bill			0.010		05/06/21		44,379,080
	15,117,000		United States Treasury Bill			0.010		05/13/21		15,115,998
	48,184,000		United States Treasury Bill			0.010		05/18/21		48,182,064
	3,951,000		United States Treasury Bill			0.010		05/20/21		3,950,554
	13,000,000		United States Treasury Bill			0.010		05/25/21		12,999,426
	9,632,000		United States Treasury Bill			0.010		05/27/21		9,631,111
	14,905,000		United States Treasury Bill			0.010		06/01/21		14,903,990
	26,002,000		United States Treasury Bill			0.010		06/03/21		26,000,112
	7,000,000		United States Treasury Bill			0.010		06/10/21		6,999,353
	11,500,000		United States Treasury Bill			0.010		06/17/21		11,498,356
	10,000,000		United States Treasury Bill			0.010		06/24/21		9,999,603
	22,000		United States Treasury Bill			0.010		07/01/21		21,999
	10,300,000		United States Treasury Bill			0.010		07/22/21		10,297,196
	16,172,000		United States Treasury Bill			0.010		07/29/21		16,167,907
	16,008,000		United States Treasury Bill			0.010		08/05/21		16,004,355
	7,000,000		United States Treasury Bill			0.010		09/23/21		6,998,741
			TOTAL TREASURY DEBT							616,114,044

VARIABLE RATE SECURITIES - 24.8%
	25,000,000	i	Federal Farm Credit Bank (FFCB)	SOFR + 0.290%		0.300		04/23/21		25,000,000
	11,000,000	i	FFCB	SOFR + 0.040%		0.050		08/04/21		11,000,000
	10,000,000	i	FFCB	SOFR + 0.055%		0.065		10/15/21		10,000,000
	10,000,000	i	FFCB	SOFR + 0.070%		0.080		02/17/22		10,000,000
	14,000,000	i	FFCB	SOFR + 0.040%		0.050		06/01/22		13,999,587
	5,000,000	i	FFCB	SOFR + 0.190%		0.200		07/14/22		5,000,000
	7,500,000	i	FFCB	SOFR + 0.070%		0.080		08/11/22		7,500,000
	14,000,000	i	FFCB	SOFR + 0.045%		0.055		09/08/22		13,998,982
	3,775,000	i	FFCB	SOFR + 0.060%		0.070		10/21/22		3,775,000
	47,500,000	i	Federal Home Loan Bank (FHLB)	SOFR + 0.230%		0.240		04/13/21		47,500,000
	11,000,000	i	FHLB	SOFR + 0.070%		0.080		04/21/21		11,000,000
	9,500,000	i	FHLB	SOFR + 0.055%		0.065		05/14/21		9,500,000
	25,000,000	i	FHLB	SOFR + 0.100%		0.110		07/09/21		25,000,000
	25,000,000	i	FHLB	SOFR + 0.120%		0.130		10/13/21		25,000,000
	9,000,000	i	FHLB	SOFR + 0.065%		0.075		12/21/21		9,000,000
	15,000,000	i	FHLB	SOFR + 0.080%		0.090		02/22/22		15,000,000
	10,000,000	i	FHLB	SOFR + 0.055%		0.065		05/13/22		10,000,000
	6,000,000	i	FHLB	SOFR + 0.090%		0.100		05/26/22		6,000,000
	10,825,000	i	FHLB	SOFR + 0.045%		0.055		07/29/22		10,825,000
	10,000,000	i	FHLB	SOFR + 0.085%		0.095		10/05/22		10,000,000
	11,000,000	i	FHLB	SOFR + 0.060%		0.070		12/08/22		11,000,000
	10,000,000	i	Federal Home Loan Mortgage Corp (FHLMC)	SOFR + 0.240%		0.250		07/23/21		10,000,000
	10,000,000	i	FHLMC	SOFR + 0.095%		0.105		08/19/22		10,000,000
	15,000,000	i	Federal National Mortgage Association (FNMA)	SOFR + 0.190%		0.200		04/05/21		15,000,000
	20,000,000	i	FNMA	SOFR + 0.280%		0.290		04/26/21		20,000,000
	10,000,000	i	FNMA	SOFR + 0.320%		0.330		10/22/21		10,000,000
			TOTAL VARIABLE RATE SECURITIES							355,098,569

363

TIAA-CREF FUNDS - Money Market Fund

	VALUE

TOTAL SHORT-TERM INVESTMENTS	$	1,431,430,979
(Cost $1,431,430,979)

TOTAL INVESTMENTS- 100.1%		1,431,430,979
(Cost $1,431,430,979)
OTHER ASSETS & LIABILITIES, NET - (0.1)%		(1,687,037	)
NET ASSETS - 100.0%	$	1,429,743,942



		Abbreviation(s):
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.

364

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of TIAA-CREF Funds and Shareholders of TIAA-CREF Bond Index Fund, TIAA-CREF Core Bond Fund, TIAA-CREF Core Impact Bond Fund, TIAA-CREF Core Plus Bond Fund, TIAA-CREF 5-15 Year Laddered Tax-Exempt Bond Fund, TIAA-CREF Green Bond Fund, TIAA-CREF High-Yield Fund, TIAA-CREF Inflation-Linked Bond Fund, TIAA-CREF Short Duration Impact Bond Fund, TIAA-CREF Short-Term Bond Fund, TIAA-CREF Short-Term Bond Index Fund, TIAA-CREF Money Market Fund, and TIAA-CREF Real Estate Securities Fund.

Opinions on the Financial Statements

We have audited the accompanying statements of assets and liabilities, including the summary portfolios of investments, of TIAA-CREF Bond Index Fund, TIAA-CREF Core Bond Fund, TIAA-CREF Core Impact Bond Fund, TIAA-CREF Core Plus Bond Fund, TIAA-CREF 5-15 Year Laddered Tax-Exempt Bond Fund, TIAA-CREF Green Bond Fund, TIAA-CREF High-Yield Fund, TIAA-CREF Short Duration Impact Bond Fund, TIAA-CREF Short-Term Bond Fund, TIAA-CREF Short-Term Bond Index Fund, and TIAA-CREF Money Market Fund, and the portfolio of investments, of TIAA-CREF Inflation-Linked Bond Fund and TIAA-CREF Real Estate Securities Fund (thirteen of the funds constituting TIAA-CREF Funds, hereafter collectively referred to as the “Funds”) as of March 31, 2021, the related statements of operations for the year ended March 31, 2021, the statements of changes in net assets for each of the two years in the period ended March 31, 2021, including the related notes, and the financial highlights for each of the periods indicated therein (included in Item 1 of this Form N-CSR) and the schedule of investments (included in Item 6 of this Form N-CSR) as of March 31, 2021 (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of March 31, 2021, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended March 31, 2021, and each of the financial highlights for each of the periods indicated therein, in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinions

Our procedures included confirmation of securities owned as of March 31, 2021 by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

/s/ PricewaterhouseCoopers LLP

Baltimore, Maryland

May 21, 2021

We have served as the auditor of one or more investment companies in TIAA-CREF Funds’ investment company group since 2005.

(A12451-B 5/21)

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 annual reporting period.

(b) There were no changes in the Registrant’s internal control over financial reporting that occurred during the Registrant’s 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)(1) Copy of current SOX code of conduct for Senior Financial Officers

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: May 21, 2021	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: May 21, 2021	By:	/s/ Bradley Finkle
		Bradley Finkle
		Principal Executive Officer and President
		(principal executive officer)

Dated: May 21, 2021	By:	/s/ E. Scott Wickerham
		E. Scott Wickerham
		Principal Financial Officer, Principal Accounting Officer and Treasurer
		(principal financial officer)