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, 2022

Item 1. Reports to Stockholders.

TIAA-CREF
Funds March 31,
2022

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, 2022. The report contains four main sections:

• A letter from Brad Finkle, Principal Executive Officer and 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, 2022.

• 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  ■  2022 Annual Report 3

Letter to investors

Real estate investment trusts (REITs) posted a strong gain for the twelve months ended March 31, 2022, as the U.S. economy grew at a solid pace, helped by diminishing travel restrictions and fewer business disruptions related to the COVID-19 pandemic. The Federal Reserve raised the federal funds target rate to 0.25%–0.50% in March 2022—its first increase since December 2018—as inflation climbed higher. Energy prices rose sharply, especially after Russia’s invasion of Ukraine in late February 2022. Furthermore, the unemployment rate decreased steadily, falling to its lowest level in two years by the end of the period.

• REITs gained 23.6% 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 the self-storage sector posting the largest gain.

• The TIAA-CREF Real Estate Securities Fund (Institutional Class) registered a double-digit gain but lagged its benchmark.

REITs surpassed U.S. stocks and bonds

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 continued to benefit from historically low interest rates. Similar to equities, REITs invest in individual companies, so their performance is tied to the overall health of the U.S. economy. As such, strength in the stock market supported REITs during the period.

For the twelve months, the FTSE Nareit All Equity REITs Index strongly outpaced the –4.2% return of the broad U.S. investment-grade fixed-rate bond market, as measured by the Bloomberg U.S. Aggregate Bond Index. REITs also surpassed all other fixed-income sectors, including high-yield bonds, as well as the 11.9% return of the broad U.S. stock market, as measured by the Russell 3000^® Index.

4 2022 Annual Report  ■  TIAA-CREF Real Estate Securities Fund

Brad Finkle

The value of REITs as a diversification tool

REITs fluctuated in the first quarter of 2022 amid rising interest rates, yet their fundamental attributes remained stable. REITs have the potential to rise in value, like a stock, while also providing a steady source of income, similar to a bond. REITs are required by law to distribute at least 90% of their taxable income to investors in the form of dividends. As such, they generate current income, which can be a valuable feature when rates decline or when markets are volatile. Furthermore, REITs invest in a broad spectrum of real estate properties, and each sector possesses its own supply/demand dynamics and its own characteristics. That variation of sectors plays a vital role in determining the performance of REIT securities. Moreover, the broad array of REITs held in a professionally managed real estate securities mutual fund has the potential to add value as a diversification tool when combined with a portfolio of stocks, bonds and other assets. Of course, diversification cannot guarantee against market losses.

Over the past few years, REITs have performed well and continued to be a relatively stable source of income and return over longer periods. They registered double-digit gains for the last three-, five- and ten-year periods ended March 31, 2022, placing their performance between those of investment-grade bonds and U.S. stocks. (Past performance is no guarantee of future results.) As always, you can visit TIAA.org for more information on asset class performance.

If you have any questions about your investment in the TIAA-CREF Real Estate Securities Fund, please contact your financial advisor or call a TIAA financial consultant at 800-842-2252. We welcome the opportunity to be of service.

/s/ Brad Finkle

Brad Finkle

Principal Executive Officer and President of the TIAA-CREF Funds and TIAA-CREF Life Funds

TIAA-CREF Real Estate Securities Fund  ■  2022 Annual Report 5

Information for investors

Portfolio holdings

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

• By visiting our 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 under Get Help 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 2022 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, 2021–March 31, 2022).

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  ■  2022 Annual Report 7

Important information about expenses

Expense example

Six months ended March 31, 2022

Real Estate Securities Fund	Beginning account value (10/1/21	)	Ending account value (3/31/22	)	Expenses paid during period (10/1/21–3/31/22	* )
Actual return
Institutional Class	$1,000.00		$1,085.61		$2.44
Advisor Class	1,000.00		1,084.98		3.07
Premier Class	1,000.00		1,084.67		3.22
Retirement Class	1,000.00		1,084.56		3.74
Retail Class	1,000.00		1,084.20		3.64
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		1,021.44		3.53

* “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, 2022. 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 0.70% 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 2022. 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 2022 Annual Report  ■  TIAA-CREF Real Estate Securities Fund

Real Estate Securities Fund

Performance for the twelve months ended March 31, 2022

The Real Estate Securities Fund returned 21.46% for the Institutional Class, compared with the 23.58% return of its benchmark, the FTSE Nareit All Equity REITs Index. The performance table shows returns for all share classes of the Fund.

Economy grew while inflation rose

The U.S. economy expanded at a robust pace, despite slowing in the third quarter of 2021 due to renewed COVID-19 concerns. Real gross domestic product, which measures the value of all goods and services produced in the United States, increased at an annualized rate of 6.9% during the fourth quarter, according to the government’s “third” estimate. The unemployment rate declined steadily to 3.6% in March 2022, its lowest level in two years. Core inflation, which measures all items except food and energy, rose 6.5% over the twelve months ended March 2022. Crude oil prices jumped from $61 to over $100 per barrel and were strongly affected by Russia’s invasion of Ukraine in late February 2022. The Federal Reserve raised the federal funds target rate in March 2022 to 0.25%–0.50%. Continued economic strength, a tight labor market and surging inflation contributed to the Fed’s shift in monetary policy.

For the period, the FTSE Nareit All Equity REITs Index surpassed the 11.92% return of the broad U.S. stock market, as measured by the Russell 3000^® Index, and the –4.15% return of the broad U.S. investment-grade fixed-rate bond market, as represented by the Bloomberg U.S. Aggregate Bond Index.

All sectors posted gains

Among the benchmark’s 16 property sectors and subsectors, all posted positive returns for the period. The largest gains were seen in the self-storage (up 47.7%), industrial (up 40.3%) and apartments (up 35.3%) sectors. The worst performer was the data centers sector (up 4.5%).

Fund posted a double-digit gain but trailed its benchmark

For the twelve-month period, the Fund posted a strong return but underperformed its benchmark. Out-of-benchmark allocations to technology services company GDS Holdings and resort and casino firms Las Vegas Sands and Wynn Resorts detracted most from the Fund’s relative performance, as all three posted losses.

These negative effects were partly offset by an overweight position in industrial REIT Rexford Industrial Realty, which posted sizable gains. Not owning poorly performing diversified REIT Americold Realty Trust was also beneficial, as was an underweight position in wireless communications infrastructure provider American Tower.

TIAA-CREF Real Estate Securities Fund  ■  2022 Annual Report 9

Real Estate Securities Fund

Performance as of March 31, 2022

Real Estate Securities 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	21.46	%	12.78	%	11.04	%	0.49	%	0.49	%
Advisor Class	12/4/15	21.32		12.64		10.97	†	0.62		0.62
Premier Class	9/30/09	21.25		12.61		10.87		0.64		0.64
Retirement Class	10/1/02	21.17		12.49		10.76		0.74		0.74
Retail Class	10/1/02	21.13		12.44		10.71		0.79		0.79
FTSE Nareit All Equity REITs Index	—	23.58		10.69		10.51		—		—

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, 2022, 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 2022 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, 2022. 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

Sector	% of net assets as of 3/31/2022
Residential REITs		27.0
Specialized REITs		23.7
Retail REITs		14.4
Industrial REITs		14.1
Office REITs		7.3
Health care REITs		5.8
Hotel & resort REITs		1.7
Internet services & infrastructure		1.6
Diversified REITs		1.5
Real estate operating companies		0.9
Short-term investments, other assets & liabilities, net		2.0
Total		100.0

Fund profile

	as of 3/31/2022
Net assets		$4.34 billion
Portfolio turnover rate		25%
Number of holdings		64
Weighted median market capitalization		$24.67 billion
Price/earnings ratio (weighted 12-month trailing average)†		40.8

^† Price/earnings ratio is the price of a stock divided by its earnings per share for the past twelve-month period.

Holdings by company size

Market capitalization	% of equity investments as of 3/31/2022
More than $50 billion		22.7
More than $15 billion–$50 billion		45.4
More than $2 billion–$15 billion		31.2
$2 billion or less		0.7
Total		100.0

TIAA-CREF Real Estate Securities Fund  ■  2022 Annual Report 11

Portfolio of investments

Real Estate Securities Fund  ■  March 31, 2022

Shares			Company	Value
COMMON STOCKS—98.0%
DIVERSIFIED REITS—1.5%
	3,600,000	*	DigitalBridge Group, Inc	$	25,920,000
	500,000		STORE Capital Corp		14,615,000
	900,000		Washington REIT		22,950,000
			TOTAL DIVERSIFIED REITS		63,485,000
HEALTH CARE REITS—5.8%
	450,000		Healthcare Realty Trust, Inc		12,366,000
	1,925,000		Healthpeak Properties Inc		66,085,250
	1,250,000		Ventas, Inc		77,200,000
	1,000,000		Welltower, Inc		96,140,000
			TOTAL HEALTH CARE REITS		251,791,250
HOTEL & RESORT REITS—1.7%
	2,600,000		Host Hotels and Resorts, Inc		50,518,000
	1,100,000		Park Hotels & Resorts, Inc		21,483,000
			TOTAL HOTEL & RESORT REITS		72,001,000
INDUSTRIAL REITS—14.1%
	150,000		EastGroup Properties, Inc		30,492,000
	200,000		Innovative Industrial Properties, Inc		41,080,000
	2,025,000		Prologis, Inc		326,997,000
	2,100,000		Rexford Industrial Realty, Inc		156,639,000
	750,000		Terreno Realty Corp		55,537,500
			TOTAL INDUSTRIAL REITS		610,745,500
INTERNET SERVICES & INFRASTRUCTURE—1.6%
	1,050,000	*	Cyxtera Technologies, Inc		12,831,000
	775,000	*	GDS Holdings Ltd (ADR)		30,418,750
	900,000		Switch, Inc		27,738,000
			TOTAL INTERNET SERVICES & INFRASTRUCTURE		70,987,750
OFFICE REITS—7.3%
	500,000		Alexandria Real Estate Equities, Inc		100,625,000
	600,000		Boston Properties, Inc		77,280,000
	450,000		Kilroy Realty Corp		34,389,000
	200,000		Orion Office REIT, Inc		2,800,000
	700,000		SL Green Realty Corp		56,826,000
	1,000,000		Vornado Realty Trust		45,320,000
			TOTAL OFFICE REITS		317,240,000
REAL ESTATE OPERATING COMPANIES—0.9%
	2,500,000		Tricon Residential, Inc		39,700,000
			TOTAL REAL ESTATE OPERATING COMPANIES		39,700,000

12 2022 Annual Report  ■  TIAA-CREF Real Estate Securities Fund See notes to financial statements

Portfolio of investments continued

Real Estate Securities Fund  ■  March 31, 2022

Shares		Company	Value
RESIDENTIAL REITS—27.0%
	600,000	American Campus Communities, Inc	$	33,582,000
	3,150,000	American Homes 4 Rent		126,094,500
	825,000	AvalonBay Communities, Inc		204,905,250
	250,000	Camden Property Trust		41,550,000
	1,350,000	Equity Lifestyle Properties, Inc		103,248,000
	2,250,002	Equity Residential		202,320,180
	370,000	Essex Property Trust, Inc		127,827,600
	800,000	Independence Realty Trust, Inc		21,152,000
	6,800,000	Ingenia Communities Group		25,671,351
	650,000	Invitation Homes, Inc		26,117,000
	325,000	Mid-America Apartment Communities, Inc		68,071,250
	200,000	NexPoint Residential Trust, Inc		18,062,000
	800,000	Sun Communities, Inc		140,232,000
	600,000	UDR, Inc		34,422,000
		TOTAL RESIDENTIAL REITS		1,173,255,131
RETAIL REITS—14.4%
	200,000	Agree Realty Corp		13,272,000
	2,650,000	Brixmor Property Group, Inc		68,396,500
	3,700,000	Kimco Realty Corp		91,390,000
	1,800,000	Kite Realty Group Trust		40,986,000
	750,000	Realty Income Corp		51,975,000
	850,000	Regency Centers Corp		60,639,000
	1,800,000	Simon Property Group, Inc		236,808,000
	2,150,000	SITE Centers Corp		35,926,500
	600,000	Spirit Realty Capital, Inc		27,612,000
		TOTAL RETAIL REITS		627,005,000
SPECIALIZED REITS—23.7%
	900,000	American Tower Corp		226,098,000
	600,000	Crown Castle International Corp		110,760,000
	450,000	Digital Realty Trust, Inc		63,810,000
	200,000	Equinix, Inc		148,324,000
	325,000	Extra Space Storage, Inc		66,820,000
	450,000	Life Storage, Inc		63,193,500
	600,000	National Storage Affiliates Trust		37,656,000
	400,000	Public Storage, Inc		156,112,000
	100,000	SBA Communications Corp		34,410,000
	1,000,000	VICI Properties, Inc		28,460,000
	2,500,000	Weyerhaeuser Co		94,750,000
		TOTAL SPECIALIZED REITS		1,030,393,500
		TOTAL COMMON STOCKS (Cost $2,692,282,087)		4,256,604,131

See notes to financial statements TIAA-CREF Real Estate Securities Fund  ■  2022 Annual Report 13

Portfolio of investments concluded

Real Estate Securities Fund  ■  March 31, 2022

Principal			Issuer	Rate			Maturity date	Value
SHORT-TERM INVESTMENTS—1.9%
GOVERNMENT AGENCY DEBT—0.9%
$	5,000,000		Federal Agricultural Mortgage Corp (FAMC)		0.000	%	05/03/22	$	4,999,111
	20,000,000		Federal Home Loan Bank (FHLB)		0.000		04/01/22		20,000,000
	10,000,000		FHLB		0.000		04/27/22		9,998,773
			TOTAL GOVERNMENT AGENCY DEBT						34,997,884
REPURCHASE AGREEMENT—0.5%
	22,895,000	r	Fixed Income Clearing Corp (FICC)		0.250		04/01/22		22,895,000
			TOTAL REPURCHASE AGREEMENT						22,895,000
TREASURY DEBT—0.5%
	11,000,000		United States Cash Management Bill		0.000		04/12/22		10,999,530
	10,000,000		United States Cash Management Bill		0.000		04/19/22		9,999,306
			TOTAL TREASURY DEBT						20,998,836
			TOTAL SHORT-TERM INVESTMENTS (Cost $78,891,590)						78,891,720
			TOTAL INVESTMENTS—99.9% (Cost $2,771,173,677)						4,335,495,851
			OTHER ASSETS & LIABILITIES, NET—0.1%						5,801,060
			NET ASSETS—100.0%					$	4,341,296,911

ADR	American Repository Receipts
REIT	Real Estate Investment Trust

*	Non-income producing
r	Agreement with Fixed Income Clearing Corp (FICC), 0.250% dated 3/31/22 to be repurchased at $22,895,000 on 4/1/22, collateralized by Government Agency Securities, with coupon rate 0.125%–4.375% and maturity date 1/15/32–2/15/38, valued at $23,352,927.

14 2022 Annual Report  ■  TIAA-CREF Real Estate Securities Fund See notes to financial statements

Statement of assets and liabilities

Real Estate Securities Fund  ■  March 31, 2022

ASSETS
Portfolio investments, at value†	$	4,335,495,851
Cash		501,186
Cash – foreign^		247,441
Receivable from securities transactions		248,787
Receivable from Fund shares sold		2,420,883
Dividends and interest receivable		11,121,790
Other		355,410
Total assets		4,350,391,348
LIABILITIES
Management fees payable		1,636,646
Service agreement fees payable		167,289
Distribution fees payable		114,880
Due to affiliates		7,102
Payable for securities transactions		5,246,553
Payable for Fund shares redeemed		1,508,213
Payable for trustee compensation		209,073
Accrued expenses and other payables		204,681
Total liabilities		9,094,437
NET ASSETS	$	4,341,296,911
NET ASSETS CONSIST OF:
Paid-in-capital	$	2,719,204,858
Total distributable earnings (loss)		1,622,092,053
Net Assets	$	4,341,296,911
INSTITUTIONAL CLASS:
Net assets	$	2,935,178,103
Outstanding shares of beneficial interest, unlimited shares authorized ($.0001 par value)		131,414,232
Net asset value per share	$	22.34
ADVISOR CLASS:
Net assets	$	153,656,653
Outstanding shares of beneficial interest, unlimited shares authorized ($.0001 par value)		6,876,300
Net asset value per share	$	22.35
PREMIER CLASS:
Net assets	$	45,327,979
Outstanding shares of beneficial interest, unlimited shares authorized ($.0001 par value)		2,027,302
Net asset value per share	$	22.36
RETIREMENT CLASS:
Net assets	$	675,116,375
Outstanding shares of beneficial interest, unlimited shares authorized ($.0001 par value)		28,844,898
Net asset value per share	$	23.41
RETAIL CLASS:
Net assets	$	532,017,801
Outstanding shares of beneficial interest, unlimited shares authorized ($.0001 par value)		24,030,332
Net asset value per share	$	22.14
†   Portfolio investments, cost	$	2,771,173,677
^   Foreign cash, cost		248,880

See notes to financial statements TIAA-CREF Real Estate Securities Fund  ■  2022 Annual Report 15

Statement of operations

Real Estate Securities Fund  ■  For the year ended March 31, 2022

INVESTMENT INCOME
Dividends*	$	76,354,740
Payment from affiliate		577,065
Interest		27,218
Total income		76,959,023
EXPENSES
Management fees		19,230,298
Shareholder servicing — Institutional Class		10,590
Shareholder servicing — Advisor Class		130,783
Shareholder servicing — Premier Class		256
Shareholder servicing — Retirement Class		1,587,544
Shareholder servicing — Retail Class		141,272
Distribution fees — Premier Class		84,313
Distribution fees — Retail Class		1,183,540
Administrative service fees		79,232
Trustee fees and expenses		41,310
Other expenses		491,283
Total expenses		22,980,421
Fee waiver by investment adviser and Nuveen Securities		(203,430	)
Net expenses		22,776,991
Net investment income (loss)		54,182,032
NET REALIZED AND UNREALIZED GAIN (LOSS) ON TOTAL INVESTMENTS
Realized gain (loss):
Portfolio investments		141,029,767
Foreign currency transactions		105,015
Net realized gain (loss) on total investments		141,134,782
Change in unrealized appreciation (depreciation) on:
Portfolio investments		530,537,798
Translation of assets (other than portfolio investments) and liabilities denominated in foreign currencies		5,176
Net change in unrealized appreciation (depreciation) on total investments and from affiliated investments		530,542,974
Net realized and unrealized gain (loss) on total investments		671,677,756
Net increase (decrease) in net assets from operations	$	725,859,788
* Net of foreign withholding taxes of	$	77,112

16 2022 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, 2022			March 31, 2021
OPERATIONS
Net investment income (loss)		$	54,182,032		$	46,223,939
Net realized gain (loss) on total investments			141,134,782			83,861,331
Net change in unrealized appreciation (depreciation) on total investments			530,542,974			687,449,664
Net increase (decrease) in net assets from operations			725,859,788			817,534,934
DISTRIBUTIONS TO SHAREHOLDERS
	Institutional Class		(96,977,383	)		(34,056,999	)
	Advisor Class		(3,739,386	)		(813,685	)
	Premier Class		(1,774,234	)		(703,229	)
	Retirement Class		(18,099,653	)		(6,800,689	)
	Retail Class		(14,532,341	)		(4,749,733	)
Total distributions			(135,122,997	)		(47,124,335	)
SHAREHOLDER TRANSACTIONS
Subscriptions:	Institutional Class		815,756,862			662,036,498
	Advisor Class		96,809,239			58,438,845
	Premier Class		11,820,296			8,311,088
	Retirement Class		71,902,294			35,513,832
	Retail Class		156,265,081			80,494,085
Reinvestments of distributions:	Institutional Class		96,236,993			33,361,742
	Advisor Class		3,729,739			807,347
	Premier Class		1,773,773			703,055
	Retirement Class		18,099,259			6,800,689
	Retail Class		13,864,550			4,522,909
Redemptions:	Institutional Class		(655,408,445	)		(377,121,852	)
	Advisor Class		(32,236,594	)		(21,557,315	)
	Premier Class		(24,987,860	)		(17,735,465	)
	Retirement Class		(44,235,480	)		(40,371,394	)
	Retail Class		(72,100,841	)		(69,834,550	)
Net increase (decrease) from shareholder transactions			457,288,866			364,369,514
Net increase (decrease) in net assets			1,048,025,657			1,134,780,113
NET ASSETS
Beginning of period			3,293,271,254			2,158,491,141
End of period		$	4,341,296,911		$	3,293,271,254

See notes to financial statements TIAA-CREF Real Estate Securities Fund  ■  2022 Annual Report 17

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

		March 31, 2022			March 31, 2021
CHANGE IN FUND SHARES
Shares sold:	Institutional Class		37,594,416			39,409,395
	Advisor Class		4,437,814			3,502,755
	Premier Class		549,141			505,171
	Retirement Class		3,169,591			1,969,222
	Retail Class		7,200,090			4,796,182
Shares reinvested:	Institutional Class		4,313,910			1,946,389
	Advisor Class		166,844			46,706
	Premier Class		79,398			41,128
	Retirement Class		773,855			380,535
	Retail Class		626,176			266,730
Shares redeemed:	Institutional Class		(30,242,146	)		(22,268,340	)
	Advisor Class		(1,488,786	)		(1,314,640	)
	Premier Class		(1,141,364	)		(1,102,012	)
	Retirement Class		(1,941,694	)		(2,340,798	)
	Retail Class		(3,346,196	)		(4,244,886	)
Net increase (decrease) from shareholder transactions			20,751,049			21,593,537

18 2022 Annual Report  ■  TIAA-CREF Real Estate Securities Fund See notes to financial statements

[This page intentionally left blank.]

TIAA-CREF Real Estate Securities Fund  ■  2022 Annual Report 19

Financial highlights

Real Estate Securities Fund

		Selected per share data																												Ratios and supplemental data
				Gain (loss) from investment operations
							Net realized																										Ratios to average net assets
	For the	Net asset		Net			& unrealized			Total gain			Less distributions from						Total			Net asset					Total return			Net assets									Net			Net investment
	period or year ended	value, beginning of period		investment income (loss		)a	gain (loss on total investments		)	(loss) from investment operations			Net investment income			Net realized gains			dividends and distributions			value, end of period		Total return			excluding payment from affiliates		u	at end of period (in thousands		)	Gross expense			Net expense			investment income (loss		)	income (loss) excluding payments from affiliates		u	Portfolio turnover rate
Institutional Class
	3/31/22		$18.98		$0.30			$ 3.77			$ 4.07			$(0.31	)		$(0.40	)		$(0.71	)		$22.34		21.46	%		21.45	%	$	2,935,178			0.47	%		0.47	%		1.37	%		1.36	%		25	%f
	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
Advisor Class
	3/31/22		18.99		0.26			3.79			4.05			(0.29	)		(0.40	)		(0.69	)		22.35		21.32			21.31			153,657			0.59			0.59			1.19			1.18			25	f
	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
Premier Class
	3/31/22		19.00		0.28			3.76			4.04			(0.28	)		(0.40	)		(0.68	)		22.36		21.25			21.24			45,328			0.62			0.62			1.27			1.25			25	f
	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
Retirement Class
	3/31/22		19.86		0.25			3.95			4.20			(0.25	)		(0.40	)		(0.65	)		23.41		21.17			21.16			675,116			0.72			0.72			1.11			1.09			25	f
	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
Retail Class
	3/31/22		18.82		0.23			3.75			3.98			(0.26	)		(0.40	)		(0.66	)		22.14		21.13			21.12			532,018			0.75			0.72			1.09			1.07			25	f
	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

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.
f	Does not include in-kind transactions.

20 2022 Annual Report  ■  TIAA-CREF Real Estate Securities Fund See notes to financial statements See notes to financial statements TIAA-CREF Real Estate Securities Fund  ■  2022 Annual Report 21

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 2022 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.

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 unrealized appreciation (depreciation) on investments and foreign currency” on the Statement of operations, when applicable.

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

Indemnification: Under the Trust’s organizational documents, its officers and directors are indemnified against certain liabilities arising out of the performance of their duties to the Trust. In addition, in the normal course of business, the Trust enters into contracts that provide general indemnifications to other parties. The Trust’s maximum exposure under these arrangements is unknown as this would

TIAA-CREF Real Estate Securities Fund  ■  2022 Annual Report 23

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

24 2022 Annual Report  ■  TIAA-CREF Real Estate Securities Fund

continued

• 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 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.

TIAA-CREF Real Estate Securities Fund  ■  2022 Annual Report 25

Notes to financial statements

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, 2022, based on the inputs used to value them:

Fund	Level 1		Level 2		Level 3		Total
Real Estate Securities
Common Stocks	$	4,230,932,780	$	25,671,351	$	—	$	4,256,604,131
Short-term investments		—		78,891,720		—		78,891,720
Total	$	4,230,932,780	$	104,563,071	$	—	$	4,335,495,851

Note 4—investments

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

Purchases and sales: Purchases and sales of securities (other than short-term instruments) for the Fund for the year ended March 31, 2022 were as follows:

Non-U.S. government purchases		Non-U.S. government sales
	$1,385,684,478		$1,016,722,550

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 2022 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, 2022, permanent book and tax differences resulting primarily from differing treatments for foreign currency transactions and utilization of tax equalization credits 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, 2022, 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	)
$2,801,117,613	$1,572,204,475	$(37,826,237	)	$1,534,378,238

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, 2022 and March 31, 2021 was as follows:

	Ordinary income		Long-term capital gains		Total
3/31/2022		$65,999,085	$	69,123,912	$	135,122,997
3/31/2021		47,124,335		—		47,124,335

Components of accumulated earnings: As of March 31, 2022, the components of accumulated earnings on a tax basis were as follows:

Undistributed ordinary income		Undistributed long-term capital gains		Unrealized appreciation (depreciation		)	Capital loss carryover		Total
	$2,260,312		$85,648,260		$1,534,378,146		$	—		$1,622,286,718

TIAA-CREF Real Estate Securities Fund  ■  2022 Annual Report 27

Notes to financial statements

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 and the treatment of short term gain as ordinary income for tax purposes.

In certain circumstances, a fund may accept portfolio securities rather than cash as payment for a purchase of fund shares (in-kind purchase). During the period ended March 31, 2022, the Real Estate Securities Fund received $169,711,410 of securities from in-kind purchase transactions.

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 0.46% as of March 31, 2022. Prior to May 1, 2021, the investment management fee was between 0.325% and 0.475%.

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 0.57% of average daily net assets for the Institutional Class shares; 0.72% of average daily net assets for the Advisor Class shares; 0.72% of average daily net assets for the Premier Class shares; 0.82% of average daily net assets for the Retirement Class shares; and 0.96% of the average daily net assets for the Retail Class shares. The expense

28 2022 Annual Report  ■  TIAA-CREF Real Estate Securities Fund

continued

reimbursement arrangements will continue through at least July 31, 2022, unless changed with approval of the Board.

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, 2022, these transactions did not materially impact the Fund.

At March 31, 2022, TIAA Access, a registered separate account of TIAA, owned 12% of the Fund’s shares.

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, 2022, 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, 2022, 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 15, 2021 expiring on June 14, 2022, replacing the previous facility, which expired June 2021. Certain affiliated accounts and mutual funds, each of which is managed by Advisors, or an affiliate of Advisors, also participate in this facility. An annual commitment fee for the credit facility is borne by the participating accounts and mutual funds on a pro rata basis. Interest associated with any borrowing under the facility is charged to the borrowing accounts or mutual funds at a specified rate of interest. The Fund is not liable for borrowings under the facility by other affiliated accounts or mutual funds. For the year ended March 31, 2022, there were no borrowings under this credit facility by the Fund.

TIAA-CREF Real Estate Securities Fund  ■  2022 Annual Report 29

Notes to financial statements concluded

Note 9—subsequent events

Advisors has agreed to implement a voluntary waiver reducing the management fee breakpoint schedule for the Real Estate Securities Fund for one year effective May 1, 2022. This waiver is 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:

Fund	Waiver	Investment management fee range
Real Estate Securities	0.035%	0.315%–0.465%

30 2022 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, 2022, the related statement of operations for the year ended March 31, 2022, the statement of changes in net assets for each of the two years in the period ended March 31, 2022, including the related notes, and the financial highlights for each of the five years in the period ended March 31, 2022 (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, 2022, 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, 2022 and the financial highlights for each of the five years in the period ended March 31, 2022 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, 2022 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 26, 2022

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  ■  2022 Annual Report 31

Important tax information (unaudited)

For the year ended March 31, 2022, the Fund designates distributions of $2,329,034 and $72,489,047 (or the maximum amount allowable), as being from Section 1250 gains and net long-term capital gains, respectively.

For the year ended March 31, 2022, the Fund designates 1.6% (or the maximum amount allowable) of ordinary income dividends paid as qualified dividend income.

For the year ended March 31, 2022, the Fund designates 1.3% (or the maximum amount allowable) of ordinary income dividends paid as qualifying for the corporate dividends received deduction.

The information and distributions reported herein may differ from the information and distributions reported to shareholders for the calendar year ending December 31, 2022, which will be reported in conjunction with your 2022 Form 1099-DIV.

By early 2023, 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 2022 Annual Report  ■  TIAA-CREF Real Estate Securities Fund

Trustees and officers (unaudited)

TIAA-CREF Funds  ■  March 31, 2022

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 and other relevant experience and qualifications	Number of Portfolios in Fund Complex Overseen by Trustee	Other Directorship(s) and positions 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, Johnson & Johnson (2002–2006). Manager, Financial Services Consultant, KPMG Consulting (2000–2002).	88	Board member, Lumina Foundation and Waterside School; Emeritus Board Member, Year-Up Puget Sound; Investment Advisory Committee Member, 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). Vice President, American Economic Association (2020–2021). 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;

TIAA-CREF Real Estate Securities Fund  ■  2022 Annual Report 33

Trustees and officers (unaudited) continued

TIAA-CREF Funds  ■  March 31, 2022

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 and other relevant experience and qualifications	Number of Portfolios in Fund Complex Overseen by Trustee	Other Directorship(s) and positions 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 Adviser 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, Build 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 2022 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; 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.

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”).

TIAA-CREF Real Estate Securities Fund  ■  2022 Annual Report 35

Trustees and officers (unaudited) concluded

TIAA-CREF Funds  ■  March 31, 2022

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
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 Teachers Insurance and Annuity Association of America (“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.
John L. Douglas TIAA 730 Third Avenue New York, NY 10017-3206 YOB: 1950	Executive Vice President, Chief Legal, Risk and Compliance Officer	One-year term. Executive Vice President since 2021 and Chief Legal, Risk and Compliance Officer since 2022.	Senior Executive Vice President, Chief Legal, Risk and Compliance Officer of TIAA, Executive Vice President, Chief Legal, Risk and Compliance Officer of the TIAA-CREF Fund Complex. Formerly, Senior Executive Vice President, Senior Advisor to the CEO, and Senior Executive Vice President, Chief Advocacy & Oversight Officer, TIAA. Prior to joining TIAA, Mr. Douglas was a partner at Davis Polk & Wardwell LLP.
W. Dave Dowrich TIAA 730 Third Avenue New York, NY 10017-3206 YOB: 1967	Executive Vice President	One-year term. Executive Vice President since 2022.	Senior Executive Vice President and Chief Financial Officer of TIAA. Executive Vice President of the TIAA-CREF Fund Complex. Prior to joining TIAA, Mr. Dowrich served as Chief Financial Officer, International Businesses at Prudential Financial, Inc.
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.	Executive Vice President, Chief Administrative Officer of the Chief Operating Office, TIAA. Principal Executive Officer and President of the TIAA-CREF Funds and TIAA-CREF Life Funds. Formerly, Executive Vice President, Chief Operating Officer, Nuveen; President and Chief Executive Officer of CREF and TIAA Separate Account VA-1; Senior Managing Director, Co-Head Nuveen Equities & Fixed Income and President of TIAA Investments.

36 2022 Annual Report  ■  TIAA-CREF Real Estate Securities Fund

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.
Colbert Narcisse TIAA 730 Third Avenue New York, NY 10017-3206 YOB: 1965	Executive Vice President	One-year term. Executive Vice President since 2022.	Senior Executive Vice President, Chief Product and Business Development Officer of TIAA. President and Chief Executive Officer of CREF and TIAA Separate Account VA-1. Executive Vice President of TIAA-CREF Funds and TIAA-CREF Life Funds. Formerly, Executive Vice President and Head of Advisory and Corporate Solutions, TIAA. Prior to joining TIAA, Mr. Narcisse served as Managing Director and Head of International Wealth Management and Head of Traditional and Alternative Investment Products at Morgan Stanley.
David G. Nason TIAA 730 Third Avenue New York, NY 10017-3206 YOB: 1970	Executive Vice President	One-year term. Executive Vice President since 2020.	Senior Executive Vice President, Chief Operating Officer of TIAA. Executive Vice President of the TIAA-CREF Fund Complex. Formerly, Senior Executive Vice President, Chief Legal, Risk and Compliance Officer, TIAA. 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.
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 People 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  ■  2022 Annual Report 37

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 and extended 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 virtual meeting via videoconference on March 11, 2022, in order to consider the annual renewal of the Agreement for 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 public health protocols 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 2022 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 as the base class for comparison purposes.

Among other matters, the Board also considered information from Advisors to facilitate the Trustees’ evaluation of the reasonableness of profits earned by Advisors with respect to its services to the Fund pursuant to the Agreement.

Legal counsel for the Trustees also 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 the 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 the Fund’s investment performance; (2) a

TIAA-CREF Real Estate Securities Fund  ■  2022 Annual Report 39

Approval of investment management agreement (unaudited)

description of any 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 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 the 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. In addition, the Board received information from management on the continued impact of the COVID-19 pandemic and certain geopolitical events on the Teachers Insurance and Annuity Association of America (“TIAA”) enterprise’s operations generally and on the Funds’ operations and performance.

On March 3, 2022, the Board held a virtual meeting via videoconference 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 11, 2022 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 and its affiliates 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

40 2022 Annual Report  ■  TIAA-CREF Real Estate Securities Fund

continued

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.

In addition to the March 11, 2022 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 11, 2022 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, considered 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 receive and consider, among other matters, information regarding the performance of the Fund. 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 11, 2022, 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

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 Fund since its 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 Fund, including conducting research, identifying investments and placing orders to buy and sell securities for the Fund’s investment portfolio; active daily monitoring of the Fund’s investment portfolio; reporting on the investment performance and other metrics of the Fund to the Board on a regular basis; responding to Fund flows; compliance

TIAA-CREF Real Estate Securities Fund  ■  2022 Annual Report 41

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 review of 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. Based on all factors considered, the Board concluded that the nature, extent, and quality of services provided by Advisors to each Fund under the Agreement was reasonable

Investment performance

The Board considered the investment performance of the Fund over the one-, three-, five- and ten-year periods ended December 31, 2021. 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 Fund 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 Funds for the calendar year 2021. 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, 2021. The Board also considered Advisors’ voluntary reduction of the Fund’s management fee rate by 0.035% starting May 1, 2022 through April 30, 2023. The Board also acknowledged

42 2022 Annual Report  ■  TIAA-CREF Real Estate Securities Fund

continued

Advisors’ commitment to reimburse Fund expenses to the extent that total annual operating expenses exceeded a specified amount. The Board concluded that the profits earned by Advisors in 2021 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 Fund 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 regard, 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 of 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’ compensation of 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

The Board considered that Advisors and its affiliate, TIAA-CREF Investment Management, LLC, provide investment management services to other investment

TIAA-CREF Real Estate Securities Fund  ■  2022 Annual Report 43

Approval of investment management agreement (unaudited)

companies, including foreign funds (UCITS), and separately managed accounts. The 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 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. 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 Advisors to its comparable clients.

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 and 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.

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 the Fund. If the 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 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

44 2022 Annual Report  ■  TIAA-CREF Real Estate Securities Fund

concluded

shown for the Institutional Class. All time periods referenced below are ended December 31, 2021. 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, 2021. Statements below regarding the Fund’s “effective management fee rate” refer 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, 2021 asset level was 0.453% of average daily net assets.

• Effective May 1, 2022, Advisors has voluntarily agreed to reduce the Fund’s management fee rate by 0.035% through April 30, 2023.

• 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 4th, 1st, 1st and 1st quintiles 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, respectively.

• 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  ■  2022 Annual Report 45

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 15, 2022 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, 2021 through December 31, 2021 (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 2022 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  ■  2022 Annual Report 47

[This page intentionally left blank.]

[This page intentionally left blank.]

[This page intentionally left blank.]

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.

©2022 Teachers Insurance and Annuity Association of America—College Retirement Equities Fund,
730 Third Avenue, New York, NY 10017-3206

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

Printed on paper containing recycled fiber

We’re fond of paper…in its original form.   Switch to eDelivery at   TIAA.org/eDelivery

2088597 A12449 (5/22)

730 Third Avenue
New York, NY 10017-3206

Printed on paper containing recycled fiber

2088597 A12449 (5/22)

730 Third Avenue
New York, NY 10017-3206

2088597 A12449 (5/22)

TIAA-CREF
Funds March 31,
2022

TIAA-CREF
Fixed-Income Funds

The annual report contains the audited financial statements.

Fund name	Institutional Class	Advisor Class	Premier Class	Retirement Class	Retail Class	Class W
Bond Index Fund	TBIIX	TBIAX	TBIPX	TBIRX	TBILX	TBIWX
Core Bond Fund	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

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
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	64
Statements of operations	68
Statements of changes in net assets	70
Financial highlights	78
Notes to financial statements	96
Report of independent registered public accounting firm	106
Important tax information	107
Trustees and officers	108
Approval of investment management agreement	111
Liquidity risk management program	117
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, 2022. The report contains four main sections:

• A letter from Brad Finkle, Principal Executive Officer and President of the TIAA-CREF Funds and TIAA-CREF Life Funds.

• 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, 2022.

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

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

As always, you should carefully consider the investment objectives, risks, charges and expenses of any fund before investing. For a prospectus that contains this and other important information, please visit our 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 Funds: Fixed-Income Funds  ■  2022 Annual Report 3

Brad Finkle

Letter to investors

For the twelve months ended March 31, 2022, the U.S. bond market struggled, while the economy grew at a strong pace. For the period, all but one of the major fixed-income sectors posted negative returns. Nine of the eleven TIAA-CREF Fixed-Income Funds lost ground, and the Money Market Fund had a return of zero.

• The broad U.S. bond market, as measured by the Bloomberg U.S. Aggregate Bond Index, returned –4.2% for the period.

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

• Among the five remaining funds, three funds—the Core Impact Bond Fund, Inflation-Linked Bond Fund and Short-Term Bond Index Fund—just slightly trailed their benchmarks. The Money Market Fund also underperformed its benchmark by a slight margin.

Bonds declined while economy expanded

The U.S. economy expanded at an impressive pace during the period, despite ongoing COVID-19 concerns, supply-chain bottlenecks and rising prices. Exceptionally strong early growth slowed in the third quarter of 2021 but accelerated again over the final three months of the year. The unemployment rate declined steadily throughout the period, finishing near pre-pandemic lows. The Federal Reserve raised the federal funds target rate to 0.25%–0.50% in March 2022—the first increase in the key short-term interest-rate measure since December 2018. Policymakers indicated that they expect further rate increases ahead. Inflation rose while oil prices, which were significantly impacted by the Russian invasion of Ukraine in February 2022, climbed sharply higher.

All but one of the major fixed-income categories fell during the period. The decline of the Bloomberg U.S. Aggregate Bond Index reflected market setbacks that occurred primarily in the first quarter of 2022. Municipal bonds, short-term securities and high-yield bonds also lost ground. U.S. Treasury inflation-protected securities produced gains for the period due to the increase in inflation.

Two TIAA-CREF Fixed-Income Funds advanced in a declining market

Despite the general decline in fixed-income returns during the twelve-month period, two of the TIAA-CREF Fixed-Income Funds generated gains. Performance for the Institutional Class ranged from –5.3% for the 5–15 Year Laddered Tax-Exempt Bond Fund to 3.8% for the Inflation-Linked Bond Fund.

The Inflation-Linked Bond Fund modestly trailed its benchmark, the Bloomberg U.S. Treasury Inflation Protected Securities (TIPS) 1–10 Year Index, which gained 3.8%. The High-Yield Fund advanced 0.2% and outpaced the –0.5% return of its benchmark, the ICE BofA BB-B U.S. Cash Pay High Yield Constrained Index.

The Short-Term Bond Fund returned –1.7%, and the Short Duration Impact Bond Fund returned –2.3%. Both funds outperformed their common benchmark, the Bloomberg U.S. 1–3 Year Government/Credit Bond Index. The relative performance of each fund benefited from underweight positions in U.S. Treasury securities.

4 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

The Core Plus Bond Fund returned –3.7%, and the Core Bond Fund returned –4.1%, both outpacing their shared benchmark, the Bloomberg U.S. Aggregate Bond Index. The Core Impact Bond Fund returned –4.2%, slightly lagging the same index.

The Green Bond Fund returned –3.7%, outperforming the Bloomberg MSCI U.S. Green Bond Index. Yield curve positioning among the Fund’s corporate bonds and government agency securities aided relative performance.

The –5.3% return of the 5–15 Year Laddered Tax-Exempt Bond Fund lagged the performance of the Bloomberg 10-Year Municipal Bond Index. Overweight positions in the transportation and industrial revenue sectors hampered relative performance most.

The Bond Index Fund returned –4.3%, and the Short-Term Bond Index Fund returned –2.9%. The funds trailed the Bloomberg U.S. Aggregate Bond Index and the Bloomberg U.S. 1–3 Year Government/Credit Bond Index, respectively, primarily due to the effect of expenses.

The Money Market Fund returned 0.0% to modestly underperform 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.

A steady hand and a long-term plan

Investors seeking to achieve their financial objectives may encounter volatility along the way, as market and economic cycles are always changing. However, we have found that a disciplined, long-term approach can be a prudent way of dealing with unforeseen events. Over the past year, for example, we have experienced lingering effects of the COVID-19 pandemic, an increase in inflation and interest rates, supply-chain bottlenecks and the war in Ukraine. While all of these developments have been challenging, investors have shown resilience.

We continue to believe that experienced, professional investment management, combined with the steadying influence of sound financial planning, can help investors navigate through times of uncertainty. Fixed-income mutual funds, as part of a well-diversified portfolio, can also help investors achieve their goals. Of course, diversification cannot guarantee against market losses.

Please visit TIAA.org for more information on asset class performance. If you have further questions or need assistance with your TIAA-CREF fixed-income portfolio, we recommend that you contact your financial advisor or call a TIAA financial consultant at 800-842-2252. We are always here to help you.

/s/ Brad Finkle

Brad Finkle

Principal Executive Officer and President of the TIAA-CREF Funds and TIAA-CREF Life Funds

TIAA-CREF Funds: Fixed-Income Funds  ■  2022 Annual Report 5

Market monitor

Bond markets declined while economy continued to grow

While most major fixed-income markets posted losses for the twelve-month period, the economy remained strong in spite of certain obstacles to growth. The third quarter of 2021 was the exception, as growth slowed due to concerns over new COVID-19 variants, supply-chain bottlenecks and rising prices. Russia’s invasion of Ukraine posed a new challenge late in the period, especially as it contributed to even higher oil prices. The unemployment rate fell gradually over the twelve months and approached pre-pandemic lows by the end of the period. Inflation accelerated significantly, and the Federal Reserve responded by raising the federal funds target rate in March from near-zero levels, signaling that additional increases were anticipated. The shift in monetary policy marked the first time in more than three years that the Fed had increased the key short-term interest-rate measure. Investment-grade fixed-rate bonds, as measured by the Bloomberg U.S. Aggregate Bond Index, returned –4.2% for the period. Losses in the final three months accounted for the entire setback.

Among major fixed-income segments, the Bloomberg U.S. Treasury Inflation Protected Securities (TIPS) 1–10 Year Index gained 3.8% for the period. U.S. high-yield securities, as measured by the ICE BofA BB-B U.S. Cash Pay High Yield Constrained Index, returned –0.5%. Short-term bonds, as represented by the Bloomberg U.S. 1–3 Year Government/Credit Bond Index, returned –2.9%. Municipal bonds, represented by the Bloomberg 10-Year Municipal Bond Index, returned –4.8%.

Bonds generally declined, except for inflation-protected securities

U.S. bond performance for the twelve months ended March 31, 2022

Source: Municipals: Bloomberg 10-Year Municipal Bond Index; Investment grade: Bloomberg U.S. Aggregate Bond Index; Short term: Bloomberg U.S. 1–3 Year Government/Credit Index; Corporate high yield: ICE BofA BB-B U.S. Cash Pay High Yield Constrained Index; Inflation protected: Bloomberg U.S. TIPS 1–10 Years Index. As of March 31, 2022.

Economy expanded while inflation rose

Real gross domestic product, which measures the value of all goods and services produced in the United States, grew at an annualized rate of 6.7% during the second quarter of 2021. The pace of expansion slowed to 2.3% during the third quarter but accelerated to 6.9% over the final quarter of the year.

The U.S. unemployment rate declined steadily from 6.0% in April 2021 to 3.6% in March 2022, the lowest level in two years. Core inflation, which includes all items except food and energy, rose 6.5% for the twelve months ended March 31, 2022. Oil prices jumped sharply, pressed by growing demand and the impact of war-related sanctions that sharply curtailed the supply of Russian crude. The price per barrel of West Texas Intermediate crude oil climbed from $61 to more than $100 over the period. The U.S. dollar appreciated against other major foreign currencies.

The broad U.S stock market, as measured by the Russell 3000^® Index, gained 11.9% for the period. Larger early gains were offset by a decline in the final three months of the period. Yields on U.S. Treasuries of all maturities rose, and the increases were most significant among shorter- and intermediate-term bonds.

Fed shifted course, raised rates

The Federal Reserve raised the federal funds target rate in March 2022, increasing the key short-term interest-rate measure to 0.25%–0.50%. Policymakers said they anticipated that ongoing future increases would be appropriate. The Fed, which had purchased large amounts of bonds and other securities to support the economy over the previous two years, said in March that it expected to begin reducing those holdings at an unspecified future time.

The European Central Bank left its key benchmark interest rates unchanged throughout the period. The Bank of England increased its benchmark rate three times during the period, raising it from 0.10% to 0.75%.

6 2022 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 under Get Help 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  ■  2022 Annual Report 7

About the funds’ benchmarks

The Bloomberg 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 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 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 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 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”). Bloomberg or Bloomberg’s licensors own all proprietary rights in the Bloomberg Indices. Bloomberg neither approves nor endorses this material, nor guarantees the accuracy or completeness of any information herein, nor 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 2022 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, 2021–March 31, 2022).

Actual expenses

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

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

Hypothetical example for comparison purposes

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

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

TIAA-CREF Funds: Fixed-Income Funds  ■  2022 Annual Report 9

Bond Index Fund

Expense example

Six months ended March 31, 2022

Bond Index Fund	Beginning account value (10/1/21)		Ending account value (3/31/22)		Expenses paid during period* (10/1/21– 3/31/22)
Actual return
Institutional Class	$	1,000.00	$	939.53	$	0.44
Advisor Class		1,000.00		939.07		0.92
Premier Class		1,000.00		938.82		1.16
Retirement Class		1,000.00		938.41		1.64
Retail Class		1,000.00		938.41		1.64
Class W		1,000.00		939.93		0.00
5% annual hypothetical return
Institutional Class		1,000.00		1,024.48		0.45
Advisor Class		1,000.00		1,023.98		0.96
Premier Class		1,000.00		1,023.73		1.21
Retirement Class		1,000.00		1,023.24		1.72
Retail Class		1,000.00		1,023.24		1.72
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, 2022. The Fund’s annualized six-month expense ratios for that period were 0.09% for the Institutional Class, 0.19% for the Advisor Class, 0.24% for the Premier Class, 0.34% for the Retirement Class, 0.34% 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 3/31/2022
U.S. Treasury securities		39.0
Mortgage-backed securities		27.5
Corporate bonds		21.1
Foreign government & corporate bonds denominated in U.S. dollars		7.4
Commercial mortgage-backed securities		1.9
U.S. agency securities		1.2
Municipal bonds		0.8
Asset-backed securities		0.6
Short-term investments, other assets & liabilities, net		0.5
Total		100.0

Performance for the twelve months ended March 31, 2022

The Bond Index Fund returned –4.32% for the Institutional Class, compared with the –4.15% return of its benchmark, the Bloomberg U.S. Aggregate Bond Index. The performance table shows returns for all share classes of the Fund.

Economy grew while inflation rose

The U.S. economy expanded at a robust pace, despite slowing in the third quarter of 2021 due to renewed COVID-19 concerns. Real gross domestic product, which measures the value of all goods and services produced in the United States, increased at an annualized rate of 6.9% during the fourth quarter, according to the government’s “third” estimate. The unemployment rate declined steadily to 3.6% in March 2022, its lowest level in two years. Core inflation, which measures all items except food and energy, rose 6.5% over the twelve months ended March 2022. Crude oil prices jumped from $61 to over $100 per barrel and were strongly affected by Russia’s invasion of Ukraine in late February 2022.

For the first time since December 2018, the Federal Reserve increased the federal funds target rate in March 2022, raising the key short-term interest-rate measure to 0.25%–0.50%. Continued economic strength, a tight labor market and surging inflation contributed to the Fed’s shift in monetary policy. Furthermore, the Fed anticipates that interest-rate increases will be ongoing.

Most major segments of the fixed-income market lost ground for the period. Municipal, short-term and high-yield bonds all recorded losses. The Bloomberg U.S. Aggregate Bond Index, a broad measure of the U.S. investment-grade fixed-rate bond market, also declined. U.S. Treasury inflation-protected securities (TIPS) performed best and generated a gain.

All sectors in the benchmark declined

All of the sectors in the Bloomberg U.S. Aggregate Bond Index posted negative returns for the twelve months. U.S. Treasuries—the largest sector with a weighting of 38.4%—returned –3.7%, outperforming the benchmark. Mortgage-backed securities and corporate bonds, the next two largest sectors at 26.7% and 26.0%, respectively, both trailed the benchmark with returns of –5.0% and –4.2%, respectively. Among smaller sectors in the benchmark, government credit securities and government agency bonds both outperformed, each with a return of –3.8%. Commercial mortgage-backed securities trailed the benchmark with a return of –4.5%.

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 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

Performance as of March 31, 2022

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		–4.32	%		1.99	%		2.08	%		0.08	%		0.08	%
Advisor Class	12/4/15		–4.41			1.86			2.02	†		0.18			0.18
Premier Class	9/30/09		–4.46			1.84			1.93			0.23			0.23
Retirement Class	9/14/09		–4.55			1.75			1.84			0.33			0.33
Retail Class	9/14/09		–4.61			1.69			1.76			0.39			0.39
Class W	9/28/18		–4.32			2.06	†		2.12	†		0.08			0.00
Bloomberg U.S. Aggregate Bond Index	—		–4.15			2.14			2.24			—			—

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, 2022, 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

Ending amounts are as of March 31, 2022. 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.

Holdings by maturity

% of fixed-income investments (excluding short-term investments) as of 3/31/2022
Less than 1 year	1.1
1–3 years	16.9
3–5 years	21.9
5–10 years	40.8
Over 10 years	19.3
Total	100.0

Holdings by credit quality

% of fixed-income investments (excluding short-term investments) as of 3/31/2022
U.S. Treasury & U.S. agency securities*	67.9
Aaa/AAA	4.3
Aa/AA	3.2
A/A	11.0
Baa/BBB	13.6
Total	100.0

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

Credit quality ratings are based on the Bloomberg 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 3/31/2022
Net assets	$21.13 billion
Portfolio turnover rate	18%
Number of issues	8,121
Option-adjusted duration‡	6.61 years
Average maturity§	8.85 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  ■  2022 Annual Report 11

Core Bond Fund

Expense example

Six months ended March 31, 2022

Core Bond Fund	Beginning account value (10/1/21)		Ending account value (3/31/22)		Expenses paid during period* (10/1/21– 3/31/22)
Actual return
Institutional Class	$	1,000.00	$	938.87	$	1.40
Advisor Class		1,000.00		939.17		2.08
Premier Class		1,000.00		938.15		2.13
Retirement Class		1,000.00		938.07		2.61
Retail Class		1,000.00		938.13		2.46
Class W		1,000.00		940.22		0.00
5% annual hypothetical return
Institutional Class		1,000.00		1,023.49		1.46
Advisor Class		1,000.00		1,022.79		2.17
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		1,022.39		2.57
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, 2022. The Fund’s annualized six-month expense ratios for that period were 0.29% for the Institutional Class, 0.43% for the Advisor Class, 0.44% for the Premier Class, 0.54% for the Retirement Class, 0.51% 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 3/31/2022
Corporate bonds		27.0
Mortgage-backed securities		21.5
U.S. Treasury securities		20.8
Foreign government & corporate bonds denominated in U.S. dollars		14.7
Commercial mortgage-backed securities		5.2
Asset-backed securities		4.8
Bank loan obligations		1.8
Municipal bonds		1.4
U.S. agency securities		0.1
Preferred stock		0.1
Short-term investments, other assets & liabilities, net		2.6
Total		100.0

Performance for the twelve months ended March 31, 2022

The Core Bond Fund returned –4.14% for the Institutional Class, compared with the –4.15% return of its benchmark, the Bloomberg U.S. Aggregate Bond Index. The performance table shows returns for all share classes of the Fund.

Economy grew while inflation rose

The U.S. economy expanded at a robust pace, despite slowing in the third quarter of 2021 due to renewed COVID-19 concerns. Real gross domestic product, which measures the value of all goods and services produced in the United States, increased at an annualized rate of 6.9% during the fourth quarter, according to the government’s “third” estimate. The unemployment rate declined steadily to 3.6% in March 2022, its lowest level in two years. Core inflation, which measures all items except food and energy, rose 6.5% over the twelve months ended March 2022. Crude oil prices jumped from $61 to over $100 per barrel and were strongly affected by Russia’s invasion of Ukraine in late February 2022.

For the first time since December 2018, the Federal Reserve increased the federal funds target rate in March 2022, raising the key short-term interest-rate measure to 0.25%–0.50%. Continued economic strength, a tight labor market and surging inflation contributed to the Fed’s shift in monetary policy. Furthermore, the Fed anticipates that interest-rate increases will be ongoing.

Most major segments of the fixed-income market lost ground for the period. Municipal, short-term and high-yield bonds all recorded losses. The Bloomberg U.S. Aggregate Bond Index, a broad measure of the U.S. investment-grade fixed-rate bond market, also declined. U.S. Treasury inflation-protected securities (TIPS) performed best and generated a gain.

All sectors in the benchmark declined

All of the sectors in the Bloomberg U.S. Aggregate Bond Index posted negative returns for the twelve months. U.S. Treasuries—the largest sector with a weighting of 38.4%—returned –3.7%, outperforming the benchmark. Mortgage-backed securities (MBS) and corporate bonds, the next two largest sectors at 26.7% and 26.0%, respectively, both trailed the benchmark with returns of –5.0% and –4.2%, respectively. Among smaller sectors in the benchmark, government credit securities and government agency bonds both outperformed, each with a return of –3.8%. Commercial mortgage-backed securities (CMBS) trailed the benchmark with a return of –4.5%.

Fund surpassed its benchmark

The Fund surpassed its benchmark for the twelve-month period. The Fund’s allocation to U.S. Treasuries contributed most to its relative performance, primarily due to favorable yield curve positioning—how the Fund was invested across different bond maturities—as well as a significant underweighted position. The Fund’s allocation to MBS had the second-largest positive impact on its relative return. Fund positions in the government credit and government agency sectors were also beneficial.

By contrast, the Fund’s overweight position in the corporate bond sector detracted most from its relative performance. Fund positions in the asset-backed securities and CMBS sectors also detracted.

12 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

Performance as of March 31, 2022

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		–4.14	%		2.47	%		2.89	%		0.29	%		0.29	%
Advisor Class	12/4/15		–4.26			2.37			2.83	†		0.42			0.42
Premier Class	9/30/09		–4.28			2.31			2.73			0.44			0.44
Retirement Class	3/31/06		–4.36			2.22			2.64			0.54			0.54
Retail Class	3/31/06		–4.38			2.18			2.59			0.58			0.58
Class W	9/28/18		–3.86			2.68	†		2.99	†		0.29			0.00
Bloomberg U.S. Aggregate Bond Index	—		–4.15			2.14			2.24			—			—

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, 2022, 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

Ending amounts are as of March 31, 2022. 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.

Holdings by maturity

% of fixed-income investments (excluding short-term investments) as of 3/31/2022
Less than 1 year	1.8
1–3 years	15.3
3–5 years	19.2
5–10 years	47.3
Over 10 years	16.4
Total	100.0

Holdings by credit quality

% of fixed-income investments (excluding short-term investments) as of 3/31/2022
U.S. Treasury & U.S. agency securities*	38.8
Aaa/AAA	5.5
Aa/AA	6.5
A/A	12.7
Baa/BBB	25.3
Ba/BB	5.9
B/B	3.1
Below B/B	0.2
Non-rated	2.0
Total	100.0

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

Credit quality ratings are based on the Bloomberg 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 3/31/2022
Net assets	$10.41 billion
Portfolio turnover rate	295%
Portfolio turnover rate, excluding mortgage dollar-roll transactions	96%
Number of issues	2,112
Option-adjusted duration‡	6.10 years
Average maturity§	8.57 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  ■  2022 Annual Report 13

Core Impact Bond Fund

Expense example

Six months ended March 31, 2022

Core Impact Bond Fund	Beginning account value (10/1/21)		Ending account value (3/31/22)		Expenses paid during period* (10/1/21– 3/31/22)
Actual return
Institutional Class	$	1,000.00	$	938.82	$	1.84
Advisor Class		1,000.00		938.61		2.13
Premier Class		1,000.00		938.11		2.66
Retirement Class		1,000.00		937.70		3.09
Retail Class		1,000.00		937.60		3.09
5% annual hypothetical return
Institutional Class		1,000.00		1,023.04		1.92
Advisor Class		1,000.00		1,022.74		2.22
Premier Class		1,000.00		1,022.19		2.77
Retirement Class		1,000.00		1,021.74		3.23
Retail Class		1,000.00		1,021.74		3.23

* “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, 2022. The Fund’s annualized six-month expense ratios for that period were 0.38% for the Institutional Class, 0.44% for the Advisor Class, 0.55% for the Premier Class, 0.64% for the Retirement Class and 0.64% 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 3/31/2022
Corporate bonds		26.4
Foreign government & corporate bonds denominated in U.S. dollars		21.5
Mortgage-backed securities		17.9
U.S. Treasury securities		11.1
Municipal bonds		6.6
Commercial mortgage-backed securities		5.2
Asset-backed securities		4.2
U.S. agency securities		4.0
Bank loan obligations		0.3
Preferred stock		0.7
Short-term investments, other assets & liabilities, net		2.1
Total		100.0

Performance for the twelve months ended March 31, 2022

The Core Impact Bond Fund returned –4.16% for the Institutional Class, compared with the –4.15% return of its benchmark, the Bloomberg U.S. Aggregate Bond Index. The performance table shows returns for all share classes of the Fund.

Economy grew while inflation rose

The U.S. economy expanded at a robust pace, despite slowing in the third quarter of 2021 due to renewed COVID-19 concerns. Real gross domestic product, which measures the value of all goods and services produced in the United States, increased at an annualized rate of 6.9% during the fourth quarter, according to the government’s “third” estimate. The unemployment rate declined steadily to 3.6% in March 2022, its lowest level in two years. Core inflation, which measures all items except food and energy, rose 6.5% over the twelve months ended March 2022. Crude oil prices jumped from $61 to over $100 per barrel and were strongly affected by Russia’s invasion of Ukraine in late February 2022.

For the first time since December 2018, the Federal Reserve increased the federal funds target rate in March 2022, raising the key short-term interest-rate measure to 0.25%–0.50%. Continued economic strength, a tight labor market and surging inflation contributed to the Fed’s shift in monetary policy. Furthermore, the Fed anticipates that interest-rate increases will be ongoing.

Most major segments of the fixed-income market lost ground for the period. Municipal, short-term and high-yield bonds all recorded losses. The Bloomberg U.S. Aggregate Bond Index, a broad measure of the U.S. investment-grade fixed-rate bond market, also declined. U.S. Treasury inflation-protected securities (TIPS) performed best and generated a gain.

All sectors in the benchmark declined

All of the sectors in the Bloomberg U.S. Aggregate Bond Index posted negative returns for the twelve months. U.S. Treasuries—the largest sector with a weighting of 38.4%—returned –3.7%, outperforming the benchmark. Mortgage-backed securities (MBS) and corporate bonds, the next two largest sectors at 26.7% and 26.0%, respectively, both trailed the benchmark with returns of –5.0% and –4.2%, respectively. Among smaller sectors in the benchmark, government credit securities and government agency bonds both outperformed, each with a return of –3.8%. Commercial mortgage-backed securities (CMBS) trailed the benchmark with a return of –4.5%.

Fund slightly trailed its benchmark

The Fund slightly trailed its benchmark for the twelve-month period, primarily due to the effect of expenses. The Fund’s overweight position in the corporate bond sector detracted most from its relative performance, followed by an overweight in the government agency sector. Fund positions in the CMBS and asset-backed securities sectors also detracted.

By contrast, other favorable allocations were beneficial. The Fund’s allocation to U.S. Treasuries contributed most to its relative performance, primarily due to favorable yield curve positioning—how the Fund was invested across different bond maturities—as well as a significant underweighted position. The Fund’s allocation to MBS had the second-largest positive impact on its relative return.

14 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

Performance as of March 31, 2022

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		–4.16	%		2.40	%		2.75	%		0.35	%		0.35	%
Advisor Class	12/4/15		–4.12			2.33			2.70	†		0.43			0.43
Premier Class	9/21/12		–4.23			2.23			2.59			0.53			0.53
Retirement Class	9/21/12		–4.31			2.15			2.50			0.60			0.60
Retail Class	9/21/12		–4.32			2.13			2.46			0.61			0.61
Bloomberg U.S. Aggregate Bond Index	—		–4.15			2.14			2.00	‡		—			—

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, 2022, 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)

 

Ending amounts are as of March 31, 2022. 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.

Holdings by maturity

% of fixed-income investments (excluding short-term investments) as of 3/31/2022
Less than 1 year	3.4
1–3 years	15.3
3–5 years	14.7
5–10 years	45.6
Over 10 years	21.0
Total	100.0

Holdings by credit quality

% of fixed-income investments (excluding short-term investments) as of 3/31/2022
U.S. Treasury & U.S. agency securities*	29.9
Aaa/AAA	9.2
Aa/AA	10.2
A/A	19.3
Baa/BBB	22.3
Ba/BB	3.2
B/B	0.8
Non-rated	5.1
Total	100.0

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

Credit quality ratings are based on the Bloomberg 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 3/31/2022
Net assets	$6.91 billion
Portfolio turnover rate	255%
Portfolio turnover rate, excluding mortgage dollar-roll transactions	112%
Number of issues	1,124
Option-adjusted duration‡	6.25 years
Average maturity§	9.15 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  ■  2022 Annual Report 15

Core Plus Bond Fund

Expense example

Six months ended March 31, 2022

Core Plus Bond Fund	Beginning account value (10/1/21)		Ending account value (3/31/22)		Expenses paid during period* (10/1/21– 3/31/22)
Actual return
Institutional Class	$	1,000.00	$	941.40	$	1.45
Advisor Class		1,000.00		941.10		1.84
Premier Class		1,000.00		940.69		2.18
Retirement Class		1,000.00		940.28		2.66
Retail Class		1,000.00		940.59		2.42
Class W		1,000.00		942.81		0.00
5% annual hypothetical return
Institutional Class		1,000.00		1,023.44		1.51
Advisor Class		1,000.00		1,023.04		1.92
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		1,022.44		2.52
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, 2022. The Fund’s annualized six-month expense ratios for that period were 0.30% for the Institutional Class, 0.38% for the Advisor Class, 0.45% for the Premier Class, 0.55% for the Retirement Class, 0.50% 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 3/31/2022
Corporate bonds		26.7
Mortgage-backed securities		20.7
Foreign government & corporate bonds denominated in U.S. dollars		18.2
U.S. Treasury securities		13.4
Asset-backed securities		6.9
Commercial mortgage-backed securities		5.6
Bank loan obligations		2.9
Municipal bonds		1.5
Preferred stock		0.2
Short-term investments, other assets & liabilities, net		3.9
Total		100.0

Performance for the twelve months ended March 31, 2022

The Core Plus Bond Fund returned –3.72% for the Institutional Class, compared with the –4.15% return of its benchmark, the Bloomberg U.S. Aggregate Bond Index. The performance table shows returns for all share classes of the Fund.

Economy grew while inflation rose

The U.S. economy expanded at a robust pace, despite slowing in the third quarter of 2021 due to renewed COVID-19 concerns. Real gross domestic product, which measures the value of all goods and services produced in the United States, increased at an annualized rate of 6.9% during the fourth quarter, according to the government’s “third” estimate. The unemployment rate declined steadily to 3.6% in March 2022, its lowest level in two years. Core inflation, which measures all items except food and energy, rose 6.5% over the twelve months ended March 2022. Crude oil prices jumped from $61 to over $100 per barrel and were strongly affected by Russia’s invasion of Ukraine in late February 2022.

For the first time since December 2018, the Federal Reserve increased the federal funds target rate in March 2022, raising the key short-term interest-rate measure to 0.25%–0.50%. Continued economic strength, a tight labor market and surging inflation contributed to the Fed’s shift in monetary policy. Furthermore, the Fed anticipates that interest-rate increases will be ongoing.

Most major segments of the fixed-income market lost ground for the period. Municipal, short-term and high-yield bonds all recorded losses. The Bloomberg U.S. Aggregate Bond Index, a broad measure of the U.S. investment-grade fixed-rate bond market, also declined. U.S. Treasury inflation-protected securities (TIPS) performed best and generated a gain.

All sectors in the benchmark declined

All of the sectors in the Bloomberg U.S. Aggregate Bond Index posted negative returns for the twelve months. U.S. Treasuries—the largest sector with a weighting of 38.4%—returned –3.7%, outperforming the benchmark. Mortgage-backed securities (MBS) and corporate bonds, the next two largest sectors at 26.7% and 26.0%, respectively, both trailed the benchmark with returns of –5.0% and –4.2%, respectively. Among smaller sectors in the benchmark, government credit securities and government agency bonds both outperformed, each with a return of –3.8%. Commercial mortgage-backed securities (CMBS) trailed the benchmark with a return of –4.5%.

Fund surpassed its benchmark

The Fund surpassed its benchmark for the twelve-month period. The Fund’s allocation to U.S. Treasuries contributed most to its relative performance, primarily due to favorable yield curve positioning—how the Fund was invested across different bond maturities—as well as a significant underweighted position. The Fund’s allocation to MBS had the second-largest positive impact on its relative return. Holdings in the government agency bond sector were also beneficial.

By contrast, the Fund’s overweight position in the corporate bond sector detracted most from its relative performance. Fund positions in the asset-backed securities, CMBS and municipal bond sectors also detracted.

16 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

Performance as of March 31, 2022

Core Plus 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		–3.72	%		2.74	%		3.17	%		0.30	%		0.30	%
Advisor Class	12/4/15		–3.79			2.67			3.13	†		0.37			0.37
Premier Class	9/30/09		–3.86			2.59			3.02			0.45			0.45
Retirement Class	3/31/06		–4.04			2.48			2.91			0.55			0.55
Retail Class	3/31/06		–3.95			2.43			2.85			0.61			0.61
Class W	9/28/18		–3.43			2.95	†		3.28	†		0.30			0.00
Bloomberg U.S. Aggregate Bond Index	—		–4.15			2.14			2.24			—			—

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, 2022, 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

Ending amounts are as of March 31, 2022. 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.

Holdings by maturity

% of fixed-income investments (excluding short-term investments) as of 3/31/2022
Less than 1 year	3.3
1–3 years	9.5
3–5 years	19.8
5–10 years	48.8
Over 10 years	18.6
Total	100.0

Holdings by credit quality

% of fixed-income investments (excluding short-term investments) as of 3/31/2022
U.S. Treasury & U.S. agency securities*	30.6
Aaa/AAA	3.3
Aa/AA	5.4
A/A	11.7
Baa/BBB	26.2
Ba/BB	12.6
B/B	5.5
Below B/B	0.5
Non-rated	4.2
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 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 3/31/2022
Net assets	$5.25 billion
Portfolio turnover rate	251%
Portfolio turnover rate, excluding mortgage dollar-roll transactions	97%
Number of issues	1,839
Option-adjusted duration‡	6.11 years
Average maturity§	8.82 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  ■  2022 Annual Report 17

5–15 Year Laddered Tax-Exempt Bond Fund

Expense example

Six months ended March 31, 2022

			Expenses
			paid
5–15 Year	Beginning	Ending	during
Laddered	account	account	period*
Tax-Exempt	value	value	(10/1/21–
Bond Fund	(10/1/21)	(3/31/22)	3/31/22)
Actual return
Institutional Class	$1,000.00	$  934.61	$1.45
Advisor Class	1,000.00	933.24	1.88
Retail Class	1,000.00	932.85	2.46
5% annual hypothetical return
Institutional Class	1,000.00	1,023.44	1.51
Advisor Class	1,000.00	1,022.99	1.97
Retail Class	1,000.00	1,022.39	2.57

* “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, 2022. The Fund’s annualized six-month expense ratios for that period were 0.30% for the Institutional Class, 0.39% for the Advisor Class and 0.51% 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 3/31/2022
Municipal bonds	97.9
Short-term investments, other assets & liabilities, net	2.1
Total	100.0

Performance for the twelve months ended March 31, 2022

The 5–15 Year Laddered Tax-Exempt Bond Fund returned –5.31% for the Institutional Class, compared with the –4.79% return of its benchmark, the Bloomberg 10-Year Municipal Bond Index. The performance table shows returns for all share classes of the Fund.

Economy grew while inflation rose

The U.S. economy expanded at a robust pace, despite slowing in the third quarter of 2021 due to renewed COVID-19 concerns. Real gross domestic product, which measures the value of all goods and services produced in the United States, increased at an annualized rate of 6.9% during the fourth quarter, according to the government’s “third” estimate. The unemployment rate declined steadily to 3.6% in March 2022, its lowest level in two years. Core inflation, which measures all items except food and energy, rose 6.5% over the twelve months ended March 2022. Crude oil prices jumped from $61 to over $100 per barrel and were strongly affected by Russia’s invasion of Ukraine in late February 2022.

For the first time since December 2018, the Federal Reserve increased the federal funds target rate in March 2022, raising the key short-term interest-rate measure to 0.25%–0.50%. Continued economic strength, a tight labor market and surging inflation contributed to the Fed’s shift in monetary policy. Furthermore, the Fed anticipates that interest-rate increases will be ongoing.

Most major segments of the fixed-income market lost ground for the period. Municipal, short-term and high-yield bonds all recorded losses. Moreover, in the first quarter of 2022, the municipal market had its worst quarterly performance in 40 years. The Bloomberg U.S. Aggregate Bond Index, a broad measure of the U.S. investment-grade fixed-rate bond market, also declined. U.S. Treasury inflation-protected securities (TIPS) performed best and generated a gain.

All sectors in the benchmark declined

All of the sectors in the Bloomberg 10-Year Municipal Bond Index produced negative returns for the twelve months. State general obligations (GOs), the benchmark’s largest sector by market capitalization at period-end, returned –4.5%. The next two largest sectors, transportation and local GOs, returned –4.7% and –5.0%, respectively. The industrial revenue sector struggled most, returning –6.5%. The health care sector was the best performer with a return of –4.2%, while housing, the second-best performer, returned –4.4%.

As of March 31, 2022, higher-rated 10-year AAA municipal bonds yielded 2.45%, compared with a 2.32% yield on the 10-year U.S. Treasury bond. New municipal issuance during the twelve-month period was $462.8 billion, down from $502.3 billion for the prior twelve months, from April 1, 2020, through March 31, 2021.

Fund lagged its benchmark

The Fund trailed its benchmark for the period. The Fund’s holdings in the transportation sector detracted most from its relative performance, due mostly to yield curve positioning, or how the Fund was invested across different bond maturities. The Fund’s holdings of industrial revenue bonds were the second-largest detractor.

On the positive side, favorable yield curve positioning in the state GO sector made it the largest contributor to relative performance. An underweight position in the special tax sector was also beneficial.

18 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

Performance as of March 31, 2022

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		–5.31	%		2.21	%	2.24	%		0.32	%	0.30	%
Advisor Class	12/4/15		–5.42			2.13		2.20	†		0.42		0.40
Retail Class	3/31/06		–5.54			1.94		1.95			0.59		0.57
Bloomberg 10-Year Municipal Bond Index	—		–4.79			2.58		2.96			—		—

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, 2022, 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.

$2,000,000 over 10 years

Institutional Class

Ending amounts are as of March 31, 2022. 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.

Holdings by maturity
% of fixed-income investments
(excluding short-term investments)
as of 3/31/2022
Less than 1 year	0.8
1–3 years	2.1
3–5 years	14.0
5–10 years	41.7
Over 10 years	41.4
Total	100.0
Holdings by credit quality
% of fixed-income investments
(excluding short-term investments)
as of 3/31/2022
Aaa/AAA	1.8
Aa/AA	26.0
A/A	49.4
Baa/BBB	18.4
Ba/BB	3.4
B/B	0.5
Non-rated	0.5
Total	100.0

Credit quality ratings are based on the Bloomberg 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 3/31/2022
Net assets	$267.07 million
Portfolio turnover rate	9%
Number of issues	251
Option-adjusted duration‡	5.56 years
Average maturity§	9.55 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  ■  2022 Annual Report 19

Green Bond Fund

Expense example

Six months ended March 31, 2022

			Expenses
			paid
	Beginning	Ending	during
	account	account	period*
	value	value	(10/1/21–
Green Bond Fund	(10/1/21)	(3/31/22)	3/31/22)
Actual return
Institutional Class	$1,000.00	$   940.34	$2.18
Advisor Class	1,000.00	940.23	2.27
Premier Class	1,000.00	939.70	2.85
Retirement Class	1,000.00	939.70	2.85
Retail Class	1,000.00	939.04	3.53
5% annual hypothetical return
Institutional Class	1,000.00	1,022.69	2.27
Advisor Class	1,000.00	1,022.59	2.37
Premier Class	1,000.00	1,021.99	2.97
Retirement Class	1,000.00	1,021.99	2.97
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, 2022. The Fund’s annualized six-month expense ratios for that period were 0.45% for the Institutional Class, 0.47% for the Advisor Class, 0.59% for the Premier Class, 0.59% 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 3/31/2022
Corporate bonds	43.6
Foreign government & corporate bonds denominated in U.S. dollars	19.2
Asset-backed securities	11.1
Commercial mortgage-backed securities	8.4
Municipal bonds	5.8
U.S. agency securities	3.7
Bank loan obligations	0.9
Mortgage-backed securities	0.4
Preferred stock	1.1
Short-term investments, other assets & liabilities, net	5.8
Total	100.0

Performance for the twelve months ended March 31, 2022

The Green Bond Fund returned –3.71% for the Institutional Class, compared with the –4.46% return of its benchmark, the Bloomberg MSCI U.S. Green Bond Index. The performance table shows returns for all share classes of the Fund.

Economy grew while inflation rose

The U.S. economy expanded at a robust pace, despite slowing in the third quarter of 2021 due to renewed COVID-19 concerns. Real gross domestic product, which measures the value of all goods and services produced in the United States, increased at an annualized rate of 6.9% during the fourth quarter, according to the government’s “third” estimate. The unemployment rate declined steadily to 3.6% in March 2022, its lowest level in two years. Core inflation, which measures all items except food and energy, rose 6.5% over the twelve months ended March 2022. Crude oil prices jumped from $61 to over $100 per barrel and were strongly affected by Russia’s invasion of Ukraine in late February 2022.

For the first time since December 2018, the Federal Reserve increased the federal funds target rate in March 2022, raising the key short-term interest-rate measure to 0.25%–0.50%. Continued economic strength, a tight labor market and surging inflation contributed to the Fed’s shift in monetary policy. Furthermore, the Fed anticipates that interest-rate increases will be ongoing.

Most major segments of the fixed-income market lost ground for the period. Municipal, short-term and high-yield bonds all recorded losses. The Bloomberg U.S. Aggregate Bond Index, a broad measure of the U.S. investment-grade fixed-rate bond market, also declined. U.S. Treasury inflation-protected securities (TIPS) performed best and generated a gain.

All benchmark sectors declined

All of the sectors in the Bloomberg MSCI U.S. Green Bond Index posted negative returns for the twelve months. Corporate bonds, the largest sector in the index with a weighting of 58.8% at period-end, trailed the benchmark with a return of –4.6%. Government credit securities, the index’s second-largest sector with a weighting of 22.5%, and government agency bonds, the benchmark’s third-largest sector at 17.5%, both outpaced the index, returning –4.2% and –3.8%, respectively. Commercial mortgage-backed securities (CMBS), which represented just 0.4% of the index, returned –4.7%.

Fund outperformed its benchmark

The Fund declined but surpassed its benchmark for the twelve-month period. The Fund’s underweight position in corporate bonds contributed most to its relative performance versus the index. Allocations to government agency bonds and government credit securities were also beneficial. Overall, favorable yield curve positioning boosted the Fund’s relative return.

By contrast, the Fund’s out-of-benchmark allocations to asset-backed securities and municipal bonds, along with an overweight position in CMBS, detracted most from its relative performance versus the index for the period.

20 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

Performance as of March 31, 2022

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		–3.71	%		3.52	%		0.93	%		0.45	%
Advisor Class	11/16/18		–3.73			3.49			1.03			0.55
Premier Class	11/16/18		–3.84			3.39			1.08			0.60
Retirement Class	11/16/18		–3.93			3.38			1.18			0.70
Retail Class	11/16/18		–4.06			3.25			1.26			0.78
Bloomberg MSCI U.S. Green Bond Index	—		–4.46			3.34	‡		—			—

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, 2022, 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.

‡

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)

Ending amounts are as of March 31, 2022. 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.

Holdings by maturity
% of fixed-income investments
(excluding short-term investments)
as of 3/31/2022
Less than 1 year	8.7
1–3 years	9.8
3–5 years	15.5
5–10 years	42.5
Over 10 years	23.5
Total	100.0
Holdings by credit quality
% of fixed-income investments
(excluding short-term investments)
as of 3/31/2022
U.S. Treasury & U.S. agency securities*	4.0
Aaa/AAA	14.6
Aa/AA	10.6
A/A	22.0
Baa/BBB	27.2
Ba/BB	6.4
B/B	1.5
Non-rated	13.7
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 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 3/31/2022
Net assets	$104.44 million
Portfolio turnover rate	27%
Number of issues	217
Option-adjusted duration‡	6.10 years
Average maturity§	8.84 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  ■  2022 Annual Report 21

High-Yield Fund

Expense example

Six months ended March 31, 2022

			Expenses
			paid
	Beginning	Ending	during
	account	account	period*
	value	value	(10/1/21–
High-Yield Fund	(10/1/21)	(3/31/22)	3/31/22)
Actual return
Institutional Class	$1,000.00	$  969.60	$1.72
Advisor Class	1,000.00	968.98	2.31
Premier Class	1,000.00	968.92	2.45
Retirement Class	1,000.00	968.38	2.94
Retail Class	1,000.00	968.72	2.80
Class W	1,000.00	971.27	0.00
5% annual hypothetical return
Institutional Class	1,000.00	1,023.19	1.77
Advisor Class	1,000.00	1,022.59	2.37
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	1,022.09	2.87
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, 2022. The Fund’s annualized six-month expense ratios for that period were 0.35% for the Institutional Class, 0.47% for the Advisor Class, 0.50% for the Premier Class, 0.60% for the Retirement Class, 0.57% for the Retail Class and 0.00% for Class W. The expense charges of one or more of the Fund’s share classes may reflect a waiver and/or reimbursement. Please see the prospectus for an explanation, including the date on which this reimbursement is scheduled to end. Without such waiver and/or reimbursement, the expenses of the affected share classes would be higher and their performance lower.

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

Portfolio composition

	% of net assets
Sector	as of 3/31/2022
Corporate bonds	75.6
Foreign government & corporate bonds denominated in U.S. dollars	9.9
Bank loan obligations	8.1
Common stocks & rights	0.1
Short-term investments, other assets & liabilities, net	6.3
Total	100.0

Performance for the twelve months ended March 31, 2022

The High-Yield Fund returned 0.17% for the Institutional Class, compared with the –0.49% 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.

Economy grew while inflation rose

The U.S. economy expanded at a robust pace, despite slowing in the third quarter of 2021 due to renewed COVID-19 concerns. Real gross domestic product, which measures the value of all goods and services produced in the United States, increased at an annualized rate of 6.9% during the fourth quarter, according to the government’s “third” estimate. The unemployment rate declined steadily to 3.6% in March 2022, its lowest level in two years. Core inflation, which measures all items except food and energy, rose 6.5% over the twelve months ended March 2022. Crude oil prices jumped from $61 to over $100 per barrel and were strongly affected by Russia’s invasion of Ukraine in late February 2022. The movement of oil prices can be influential due to the large representation of energy companies in the high-yield sector.

For the first time since December 2018, the Federal Reserve increased the federal funds target rate in March 2022, raising the key short-term interest-rate measure to 0.25%–0.50%. Continued economic strength, a tight labor market and surging inflation contributed to the Fed’s shift in monetary policy. Furthermore, the Fed anticipates that interest-rate increases will be ongoing.

For the twelve-month period, high-yield bonds surpassed the –4.15% return of the broad U.S. investment-grade fixed-rate bond market, as measured by the Bloomberg U.S. Aggregate Bond Index.

Most sectors posted losses

For the twelve months, most high-yield bond sectors declined. The worst performer was tobacco, returning –8.8%. Energy exploration & production, the benchmark’s largest sector on March 31, 2022, was the best performer, advancing 8.2%.

High-yield bonds posted mixed results across credit quality tiers for the twelve months as investors gravitated toward riskier asset classes. Lower-quality bonds (those rated “CCC” and below) performed best, gaining 1.0%. Bonds rated “B” and “BB” returned 0.1% and –1.0%, respectively. New high-yield debt issuance totaled more than $355 billion for the twelve months, down substantially from the $506 billion for the same period in 2021, as volumes declined toward the end of the period. The U.S. issuer-weighted speculative grade corporate default rate fell to 1.2% on March 31, 2022, from 7.7% (revised from 7.5%) a year earlier, according to Moody’s Investors Service.

Fund surpassed its benchmark

For the twelve-month period, the Fund advanced and outperformed its benchmark. An underweight position in poorly performing Telecom Italia Capital was the largest contributor to the Fund’s relative return. Overweight positions in energy service providers Antero Midstream Partners and Moss Creek Resources also augmented performance as both benefited from higher oil prices.

On the negative side, the Fund was hurt by an out-of-benchmark position in technology hardware & equipment company Bright Bidco, as well as an overweight allocation to retailer Michaels and an underweight position in energy service provider Apache.

22 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

Performance as of March 31, 2022

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		0.17	%		3.90	%		5.10	%		0.36	%		0.36	%
Advisor Class	12/4/15		0.05			3.76			5.02	†		0.45			0.45
Premier Class	9/30/09		0.02			3.74			4.96			0.51			0.51
Retirement Class	3/31/06		–0.08			3.62			4.85			0.61			0.61
Retail Class	3/31/06		–0.07			3.60			4.82			0.65			0.65
Class W	9/28/18		0.51			4.14	†		5.23	†		0.36			0.00
ICE BofA BB-B U.S. Cash Pay High Yield Constrained Index	—		–0.49			4.58			5.59			—			—

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, 2022, 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

Ending amounts are as of March 31, 2022. 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.

Holdings by maturity
% of fixed-income investments
(excluding short-term investments)
as of 3/31/2022
Less than 1 year	0.1
1–3 years	3.3
3–5 years	24.5
5–10 years	69.3
Over 10 years	2.8
Total	100.0
Holdings by credit quality
% of fixed-income investments
(excluding short-term investments)
as of 3/31/2022
Ba/BB	45.6
B/B	49.4
Below B/B	4.3
Non-rated	0.7
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 3/31/2022
Net assets	$3.14 billion
Portfolio turnover rate	70%
Number of issues	327
Option-adjusted duration‡	3.91 years
Average maturity§	6.23 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  ■  2022 Annual Report 23

Inflation-Linked Bond Fund

Expense example

Six months ended March 31, 2022

			Expenses
			paid
	Beginning	Ending	during
	account	account	period*
Inflation-Linked	value	value	(10/1/21–
Bond Fund	(10/1/21)	(3/31/22)	3/31/22)
Actual return
Institutional Class	$1,000.00	$   999.06	$1.15
Advisor Class	1,000.00	997.74	1.64
Premier Class	1,000.00	998.30	1.89
Retirement Class	1,000.00	997.82	2.39
Retail Class	1,000.00	997.80	2.39
Class W	1,000.00	1,000.22	0.00
5% annual hypothetical return
Institutional Class	1,000.00	1,023.78	1.16
Advisor Class	1,000.00	1,023.29	1.66
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	1,022.54	2.42
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, 2022. The Fund’s annualized six-month expense ratios for that period were 0.23% for the Institutional Class, 0.33% for the Advisor Class, 0.38% for the Premier Class, 0.48% for the Retirement Class, 0.48% for the Retail Class and 0.00% for Class W. The expense charges of one or more of the Fund’s share classes may reflect a waiver and/or reimbursement. Please see the prospectus for an explanation, including the date on which this reimbursement is scheduled to end. Without such waiver and/or reimbursement, the expenses of the affected share classes would be higher and their performance lower.

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

Portfolio composition

	% of net assets
Sector	as of 3/31/2022
U.S. Treasury securities	96.4
Mortgage-backed securities	2.0
U.S. agency securities	0.3
Foreign government & corporate bonds denominated in U.S. dollars	0.2
Short-term investments, other assets & liabilities, net	1.1
Total	100.0

Performance for the twelve months ended March 31, 2022

The Inflation-Linked Bond Fund returned 3.76% for the Institutional Class, compared with the 3.78% return of its benchmark, the Bloomberg U.S. Treasury Inflation Protected Securities (TIPS) 1–10 Year Index. The performance table shows returns for all share classes of the Fund.

Economy grew while inflation rose

The U.S. economy expanded at a robust pace, despite slowing in the third quarter of 2021 due to renewed COVID-19 concerns. Real gross domestic product, which measures the value of all goods and services produced in the United States, increased at an annualized rate of 6.9% during the fourth quarter, according to the government’s “third” estimate. The unemployment rate declined steadily to 3.6% in March 2022, its lowest level in two years. Core inflation, which measures all items except food and energy, rose 6.5% over the twelve months ended March 2022. Crude oil prices jumped from $61 to over $100 per barrel and were strongly affected by Russia’s invasion of Ukraine in late February 2022.

For the first time since December 2018, the Federal Reserve increased the federal funds target rate in March 2022, raising the key short-term interest-rate measure to 0.25%–0.50%. Continued economic strength, a tight labor market and surging inflation contributed to the Fed’s shift in monetary policy. Furthermore, the Fed anticipates that interest-rate increases will be ongoing.

Most major segments of the fixed-income market lost ground for the period. Municipal, short-term and high-yield bonds all recorded losses. The Bloomberg U.S. Aggregate Bond Index, a broad measure of the U.S. investment-grade fixed-rate bond market, also declined. U.S. Treasury inflation-protected securities (TIPS) performed best and generated a gain.

Inflation-protected bonds, as measured by the TIPS 1–10 Year index, generally benefited from economic developments during the period. Sharply rising energy prices, a tighter labor market and supply-chain bottlenecks caused a rise in inflation, which bolstered TIPS.

Fund gained ground but trailed its benchmark

Though the Fund generated a solid return for the period, its advance trailed that of its benchmark by a small margin, primarily due to the effect of expenses. The Fund’s large position in the U.S. Treasuries sector, which accounted for the vast majority of the Fund’s holdings, boosted performance relative to the benchmark. A modest duration underweight drove outperformance in this sector. Conversely, out-of-benchmark positions in mortgage-backed securities and corporate bonds detracted from the Fund’s return versus the benchmark.

During the period, 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 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

Performance as of March 31, 2022

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		3.76	%		3.68	%		2.11	%		0.25	%		0.25	%
Advisor Class	12/4/15		3.58			3.58			2.05	†		0.34			0.34
Premier Class	9/30/09		3.61			3.53			1.96			0.40			0.40
Retirement Class	3/31/06		3.47			3.42			1.85			0.50			0.50
Retail Class	10/1/02		3.48			3.35			1.78			0.56			0.56
Class W	9/28/18		4.00			3.85	†		2.19	†		0.25			0.00
Bloomberg U.S. Treasury Inflation Protected Securities (TIPS) 1–10 Year Index	—		3.78			3.88			2.24			—			—

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, 2022, 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

Ending amounts are as of March 31, 2022. 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.

Holdings by maturity
% of fixed-income investments
(excluding short-term investments)
as of 3/31/2022
1–3 years	28.5
3–5 years	31.3
5–10 years	36.7
Over 10 years	3.5
Total	100.0
Holdings by credit quality
% of fixed-income investments
(excluding short-term investments)
as of 3/31/2022
U.S. Treasury & U.S. agency securities*	99.5
Non-rated	0.5
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 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 3/31/2022
Net assets	$3.27 billion
Portfolio turnover rate	21%
Number of issues	49
Option-adjusted duration‡	4.65 years
Average maturity§	4.85 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  ■  2022 Annual Report 25

Short Duration Impact Bond Fund

Expense example

Six months ended March 31, 2022

			Expenses
			paid
	Beginning	Ending	during
Short Duration	account	account	period*
Impact	value	value	(10/1/21–
Bond Fund	(10/1/21)	(3/31/22)	3/31/22)
Actual return
Institutional Class	$1,000.00	$   970.81	$1.72
Advisor Class	1,000.00	970.55	1.97
Premier Class	1,000.00	970.06	2.46
Retirement Class	1,000.00	969.72	2.80
Retail Class	1,000.00	969.55	3.00
5% annual hypothetical return
Institutional Class	1,000.00	1,023.19	1.77
Advisor Class	1,000.00	1,022.94	2.02
Premier Class	1,000.00	1,022.44	2.52
Retirement Class	1,000.00	1,022.09	2.87
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, 2022. The Fund’s annualized six-month expense ratios for that period were 0.35% for the Institutional Class, 0.40% for the Advisor Class, 0.50% for the Premier Class, 0.57% for the Retirement Class and 0.61% for the Retail Class. The expense charges of one or more of the Fund’s share classes may reflect a waiver and/or reimbursement. Please see the prospectus for an explanation, including the date on which this reimbursement is scheduled to end. Without such waiver and/or reimbursement, the expenses of the affected share classes would be higher and their performance lower.

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

Portfolio composition

	% of net assets
Sector	as of 3/31/2022
Foreign government & corporate bonds denominated in U.S. dollars	23.0
Corporate bonds	21.4
Asset-backed securities	17.0
U.S. Treasury securities	9.3
U.S. agency securities	9.3
Municipal bonds	8.7
Commercial mortgage-backed securities	5.6
Bank loan obligations	2.5
Mortgage-backed securities	0.6
Short-term investments, other assets & liabilities, net	2.6
Total	100.0

Performance for the twelve months ended March 31, 2022

The Short Duration Impact Bond Fund returned –2.29% for the Institutional Class, compared with the –2.91% return of its benchmark, the Bloomberg U.S. 1–3 Year Government/Credit Bond Index. The performance table shows returns for all share classes of the Fund.

Economy grew while inflation rose

The U.S. economy expanded at a robust pace, despite slowing in the third quarter of 2021 due to renewed COVID-19 concerns. Real gross domestic product, which measures the value of all goods and services produced in the United States, increased at an annualized rate of 6.9% during the fourth quarter, according to the government’s “third” estimate. The unemployment rate declined steadily to 3.6% in March 2022, its lowest level in two years. Core inflation, which measures all items except food and energy, rose 6.5% over the twelve months ended March 2022. Crude oil prices jumped from $61 to over $100 per barrel and were strongly affected by Russia’s invasion of Ukraine in late February 2022.

For the first time since December 2018, the Federal Reserve increased the federal funds target rate in March 2022, raising the key short-term interest-rate measure to 0.25%–0.50%. Continued economic strength, a tight labor market and surging inflation contributed to the Fed’s shift in monetary policy. Furthermore, the Fed anticipates that interest-rate increases will be ongoing.

Most major segments of the fixed-income market lost ground for the period. Municipal, short-term and high-yield bonds all recorded losses. The Bloomberg U.S. Aggregate Bond Index, a broad measure of the U.S. investment-grade fixed-rate bond market, also declined. U.S. Treasury inflation-protected securities (TIPS) performed best and generated a gain.

All sectors in the benchmark declined

All of the sectors in the Bloomberg U.S. 1–3 Year Government/Credit Bond Index posted negative returns for the twelve months. Short-term Treasuries, by far the benchmark’s largest sector with a weighting of 67.6%, was the worst-performing component with a return of –3.0%. Corporate bonds—the second-largest sector with a weighting of 22.3%—was the index’s best-performing component with a return of –2.6%. Government credit securities and government agency bonds both declined but surpassed the benchmark with returns of –2.7% and –2.8%, respectively.

Fund outperformed its benchmark

The Fund surpassed its benchmark for the period. Of particular note, the Fund’s yield curve positioning and underweight position in Treasuries contributed most to its relative return. An overweight position in government credit securities also benefited performance.

By contrast, the Fund’s out-of-benchmark allocations to the asset-backed securities, commercial mortgage-backed securities, municipal bonds and mortgage-backed securities sectors detracted most from its relative return. An allocation to government agency bonds and an overweight in the corporate bond sector further hampered performance.

26 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

Performance as of March 31, 2022

Short Duration Impact Bond Fund					Average annual			Annual operating
		Total return			total return			expenses*
	Inception date		1 year			since inception			gross		net
Institutional Class	11/16/18		–2.29	%		2.23	%		1.06	%	0.35	%
Advisor Class	11/16/18		–2.32			2.20			1.16		0.45
Premier Class	11/16/18		–2.44			2.07			1.21		0.50
Retirement Class	11/16/18		–2.51			1.98			1.31		0.60
Retail Class	11/16/18		–2.54			1.94			1.40		0.69
Bloomberg U.S. 1–3 Year Government/Credit Bond Index	—		–2.91			1.52	‡		—		—

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, 2022, 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.

‡

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)

Ending amounts are as of March 31, 2022. 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.

Holdings by maturity
% of fixed-income investments
(excluding short-term investments)
as of 3/31/2022
Less than 1 year	21.7
1–3 years	45.5
3–5 years	18.4
5–10 years	13.8
Over 10 years	0.6
Total	100.0
Holdings by credit quality
% of fixed-income investments
(excluding short-term investments)
as of 3/31/2022
U.S. Treasury & U.S. agency securities*	14.3
Aaa/AAA	19.5
Aa/AA	7.5
A/A	16.7
Baa/BBB	14.8
Ba/BB	3.3
B/B	2.0
Non-rated	21.9
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 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 3/31/2022
Net assets	$38.26 million
Portfolio turnover rate	76%
Number of issues	126
Option-adjusted duration‡	1.79 years
Average maturity§	2.49 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  ■  2022 Annual Report 27

Short-Term Bond Fund

Expense example

Six months ended March 31, 2022

			Expenses
			paid
	Beginning	Ending	during
	account	account	period*
Short-Term	value	value	(10/1/21–
Bond Fund	(10/1/21)	(3/31/22)	3/31/22)
Actual return
Institutional Class	$1,000.00	$  977.18	$1.33
Advisor Class	1,000.00	976.76	1.77
Premier Class	1,000.00	976.47	2.07
Retirement Class	1,000.00	975.06	2.56
Retail Class	1,000.00	976.05	2.51
Class W	1,000.00	978.49	0.00
5% annual hypothetical return
Institutional Class	1,000.00	1,023.59	1.36
Advisor Class	1,000.00	1,023.14	1.82
Premier Class	1,000.00	1,022.84	2.12
Retirement Class	1,000.00	1,022.34	2.62
Retail Class	1,000.00	1,022.39	2.57
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, 2022. The Fund’s annualized six-month expense ratios for that period were 0.27% for the Institutional Class, 0.36% for the Advisor Class, 0.42% for the Premier Class, 0.52% for the Retirement Class, 0.51% for the Retail Class and 0.00% for Class W. The expense charges of one or more of the Fund’s share classes may reflect a waiver and/or reimbursement. Please see the prospectus for an explanation, including the date on which this reimbursement is scheduled to end. Without such waiver and/or reimbursement, the expenses of the affected share classes would be higher and their performance lower.

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

Portfolio composition

	% of net assets
Sector	as of 3/31/2022
Foreign government & corporate bonds denominated in U.S. dollars	24.2
Corporate bonds	20.7
U.S. Treasury securities	17.3
Asset-backed securities	11.2
Commercial mortgage-backed securities	10.6
Mortgage-backed securities	8.4
Bank loan obligations	2.1
Municipal bonds	2.0
U.S. agency securities	0.4
Short-term investments, other assets & liabilities, net	3.1
Total	100.0

Performance for the twelve months ended March 31, 2022

The Short-Term Bond Fund returned –1.70% for the Institutional Class, compared with the –2.91% return of its benchmark, the Bloomberg U.S. 1–3 Year Government/Credit Bond Index. The performance table shows returns for all share classes of the Fund.

Economy grew while inflation rose

The U.S. economy expanded at a robust pace, despite slowing in the third quarter of 2021 due to renewed COVID-19 concerns. Real gross domestic product, which measures the value of all goods and services produced in the United States, increased at an annualized rate of 6.9% during the fourth quarter, according to the government’s “third” estimate. The unemployment rate declined steadily to 3.6% in March 2022, its lowest level in two years. Core inflation, which measures all items except food and energy, rose 6.5% over the twelve months ended March 2022. Crude oil prices jumped from $61 to over $100 per barrel and were strongly affected by Russia’s invasion of Ukraine in late February 2022.

For the first time since December 2018, the Federal Reserve increased the federal funds target rate in March 2022, raising the key short-term interest-rate measure to 0.25%–0.50%. Continued economic strength, a tight labor market and surging inflation contributed to the Fed’s shift in monetary policy. Furthermore, the Fed anticipates that interest-rate increases will be ongoing.

Most major segments of the fixed-income market lost ground for the period. Municipal, short-term and high-yield bonds all recorded losses. The Bloomberg U.S. Aggregate Bond Index, a broad measure of the U.S. investment-grade fixed-rate bond market, also declined. U.S. Treasury inflation-protected securities (TIPS) performed best and generated a gain.

All sectors in the benchmark declined

All of the sectors in the Bloomberg U.S. 1–3 Year Government/Credit Bond Index posted negative returns for the twelve months. Short-term Treasuries, by far the benchmark’s largest sector with a weighting of 67.6%, was the worst-performing component with a return of –3.0%. Corporate bonds—the second-largest sector with a weighting of 22.3%—was the index’s best-performing component with a return of –2.6%. Government credit securities and government agency bonds both declined but surpassed the benchmark with returns of –2.7% and –2.8%, respectively.

Fund outperformed its benchmark

The Fund lost ground but outperformed its benchmark for the period by a significant margin, primarily due to favorable positioning in several sectors. Of particular note, the Fund’s yield curve positioning and underweight position in Treasuries contributed most to its relative return. Fund holdings of Treasury inflation protected securities (TIPS) made the second-largest contribution. An overweight position in government credit securities also benefited performance.

The only significant detractors during the period were certain emerging-markets selections that did not perform as anticipated.

28 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

Performance as of March 31, 2022

Short-Term 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		–1.70	%		1.70	%	1.61	%		0.26	%	0.26	%
Advisor Class	12/4/15		–1.70			1.63		1.57	†		0.35		0.35
Premier Class	9/30/09		–1.85			1.55		1.46			0.41		0.41
Retirement Class	3/31/06		–1.95			1.45		1.36			0.51		0.51
Retail Class	3/31/06		–1.88			1.40		1.30			0.56		0.56
Class W	9/28/18		–1.35			1.89	†	1.70	†		0.26		0.00
Bloomberg U.S. 1–3 Year Government/Credit Bond Index	—		–2.91			1.26		1.09			—		—

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, 2022, 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

Ending amounts are as of March 31, 2022. 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.

Holdings by maturity
% of fixed-income investments
(excluding short-term investments)
as of 3/31/2022
Less than 1 year	20.3
1–3 years	51.2
3–5 years	21.1
5–10 years	7.1
Over 10 years	0.3
Total	100.0
Holdings by credit quality
% of fixed-income investments
(excluding short-term investments)
as of 3/31/2022
U.S. Treasury & U.S. agency securities*	19.5
Aaa/AAA	11.6
Aa/AA	14.8
A/A	23.4
Baa/BBB	20.8
Ba/BB	4.6
B/B	0.4
Below B/B	0.1
Non-rated	4.8
Total	100.0

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

Credit quality ratings are based on the Bloomberg 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 3/31/2022
Net assets	$2.00 billion
Portfolio turnover rate	104%
Number of issues	461
Option-adjusted duration‡	1.56 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  ■  2022 Annual Report 29

Short-Term Bond Index Fund

Expense example

Six months ended March 31, 2022

			Expenses
			paid
	Beginning	Ending	during
	account	account	period*
Short-Term	value	value	(10/1/21–
Bond Index Fund	(10/1/21)	(3/31/22)	3/31/22)
Actual return
Institutional Class	$1,000.00	$   969.65	$0.54
Advisor Class	1,000.00	968.09	1.08
Premier Class	1,000.00	968.82	1.33
Retirement Class	1,000.00	968.44	1.72
Retail Class	1,000.00	967.34	2.26
Class W	1,000.00	970.15	0.00
5% annual hypothetical return
Institutional Class	1,000.00	1,024.38	0.56
Advisor Class	1,000.00	1,023.83	1.11
Premier Class	1,000.00	1,023.59	1.36
Retirement Class	1,000.00	1,023.19	1.77
Retail Class	1,000.00	1,022.64	2.32
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, 2022. The Fund’s annualized six-month expense ratios for that period were 0.11% for the Institutional Class, 0.22% for the Advisor Class, 0.27% for the Premier Class, 0.35% for the Retirement Class, 0.46% for the Retail Class and 0.00% for Class W. The expense charges of one or more of the Fund’s share classes may reflect a waiver and/or reimbursement. Please see the prospectus for an explanation, including the date on which this reimbursement is scheduled to end. Without such waiver and/or reimbursement, the expenses of the affected share classes would be higher and their performance lower.

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

Portfolio composition

	% of net assets
Sector	as of 3/31/2022
U.S. Treasury securities	67.7
Corporate bonds	17.2
Foreign government & corporate bonds denominated in U.S. dollars	11.5
U.S. agency securities	3.2
Municipal bonds	0.1
Short-term investments, other assets & liabilities, net	0.3
Total	100.0

Performance for the twelve months ended March 31, 2022

The Short-Term Bond Index Fund returned –2.94% for the Institutional Class, compared with the –2.91% return of its benchmark, the Bloomberg U.S. 1–3 Year Government/Credit Bond Index. The performance table shows returns for all share classes of the Fund.

Economy grew while inflation rose

The U.S. economy expanded at a robust pace, despite slowing in the third quarter of 2021 due to renewed COVID-19 concerns. Real gross domestic product, which measures the value of all goods and services produced in the United States, increased at an annualized rate of 6.9% during the fourth quarter, according to the government’s “third” estimate. The unemployment rate declined steadily to 3.6% in March 2022, its lowest level in two years. Core inflation, which measures all items except food and energy, rose 6.5% over the twelve months ended March 2022. Crude oil prices jumped from $61 to over $100 per barrel and were strongly affected by Russia’s invasion of Ukraine in late February 2022.

For the first time since December 2018, the Federal Reserve increased the federal funds target rate in March 2022, raising the key short-term interest-rate measure to 0.25%–0.50%. Continued economic strength, a tight labor market and surging inflation contributed to the Fed’s shift in monetary policy. Furthermore, the Fed anticipates that interest-rate increases will be ongoing.

Most major segments of the fixed-income market lost ground for the period. Municipal, short-term and high-yield bonds all recorded losses. The Bloomberg U.S. Aggregate Bond Index, a broad measure of the U.S. investment-grade fixed-rate bond market, also declined. U.S. Treasury inflation-protected securities (TIPS) performed best and generated a gain.

All sectors in the benchmark declined

All of the sectors in the Bloomberg U.S. 1–3 Year Government/Credit Bond Index posted negative returns for the twelve months. Short-term Treasuries, by far the benchmark’s largest sector with a weighting of 67.6%, was the worst-performing component with a return of –3.0%. Corporate bonds—the second-largest sector with a weighting of 22.3%—was the index’s best-performing component with a return of –2.6%. Government credit securities and government agency bonds both declined but surpassed the benchmark with returns of –2.7% and –2.8%, respectively.

Fund slightly underperformed its benchmark

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

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

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

30 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

Performance as of March 31, 2022

Short-Term Bond Index Fund					Average annual					Annual operating
		Total return			total return					expenses*
	Inception date		1 year			5 years		since inception			gross		net
Institutional Class	8/7/15		–2.94	%		1.16	%	1.06	%		0.10	%	0.10	%
Advisor Class	12/4/15		–3.16			1.00		0.94	†		0.23		0.23
Premier Class	8/7/15		–3.10			0.98		0.89			0.25		0.25
Retirement Class	8/7/15		–3.18			0.91		0.81			0.35		0.35
Retail Class	8/7/15		–3.35			0.79		0.71			0.43		0.43
Class W	9/28/18		–2.85			1.23	†	1.12	†		0.10		0.00
Bloomberg U.S. 1–3 Year Government/Credit Bond Index	—		–2.91			1.26		1.20	‡		—		—

The returns in this report show past performance, which is no guarantee of future results. The returns do not reflect taxes that a shareholder would pay on fund distributions or on the sale of fund shares. Returns and the principal value of your investment will fluctuate. Current performance may be higher or lower than that shown, and you may have a gain or a loss when you redeem your shares. For current performance 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, 2022, 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)

Ending amounts are as of March 31, 2022. 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.

Holdings by maturity
% of fixed-income investments
(excluding short-term investments)
as of 3/31/2022
Less than 1 year	3.6
1–3 years	95.3
3–5 years	1.1
Total	100.0
Holdings by credit quality
% of fixed-income investments
(excluding short-term investments)
as of 3/31/2022
U.S. Treasury & U.S. agency securities*	70.2
Aaa/AAA	3.9
Aa/AA	3.2
A/A	12.4
Baa/BBB	10.3
Total	100.0

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

Credit quality ratings are based on the Bloomberg 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 3/31/2022
Net assets	$1.36 billion
Portfolio turnover rate	49%
Number of issues	675
Option-adjusted duration‡	1.92 years
Average maturity§	1.96 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  ■  2022 Annual Report 31

Money Market Fund

Expense example

Six months ended March 31, 2022

			Expenses
			paid
	Beginning	Ending	during
	account	account	period*
Money Market	value	value	(10/1/21–
Fund	(10/1/21)	(3/31/22)	3/31/22)
Actual return
Institutional Class	$1,000.00	$1,000.00	$0.40
Advisor Class	1,000.00	1,000.00	0.40
Premier Class	1,000.00	1,000.00	0.40
Retirement Class	1,000.00	1,000.00	0.40
Retail Class	1,000.00	1,000.00	0.40
5% annual hypothetical return
Institutional Class	1,000.00	1,024.53	0.40
Advisor Class	1,000.00	1,024.53	0.40
Premier Class	1,000.00	1,024.53	0.40
Retirement Class	1,000.00	1,024.53	0.40
Retail Class	1,000.00	1,024.53	0.40

* “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, 2022. The Fund’s annualized six-month expense ratios for that period were 0.08% for the Institutional Class, 0.08% for the Advisor Class, 0.08% for the Premier Class, 0.08% for the Retirement Class and 0.08% 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 3/31/2022
U.S. government agency securities*	43.4
Floating-rate securities, government*	32.6
U.S. Treasury securities*	24.5
Other assets & liabilities, net	–0.5
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, 2022

The Money Market Fund returned 0.00% for the Institutional Class, compared with the 0.02% return of the iMoneyNet Money Fund Averages™—All Government, a simple average of over 500 money market funds that invest in short-term U.S. government securities. The iMoneyNet average is not an index, and its return reflects the deduction of expenses charged by the funds included in the average. The performance table shows returns for all share classes of the Fund.

Economy grew while inflation rose

The U.S. economy expanded at a robust pace, despite slowing in the third quarter of 2021 due to renewed COVID-19 concerns. Real gross domestic product, which measures the value of all goods and services produced in the United States, increased at an annualized rate of 6.9% during the fourth quarter, according to the government’s “third” estimate. The unemployment rate declined steadily to 3.6% in March 2022, its lowest level in two years. Core inflation, which measures all items except food and energy, rose 6.5% over the twelve months ended March 2022. Crude oil prices jumped from $61 to over $100 per barrel and were strongly affected by Russia’s invasion of Ukraine in late February 2022.

For the first time since December 2018, the Federal Reserve increased the federal funds target rate in March 2022, raising the key short-term interest-rate measure to 0.25%–0.50%. Continued economic strength, a tight labor market and surging inflation contributed to the Fed’s shift in monetary policy. Furthermore, the Fed anticipates that interest-rate increases will be ongoing.

Short-term rates are expected to increase in 2022

Although inflation presents an economic challenge for the United States in 2022, the increase in short-term bond yields during the period—a trend that is expected to continue—was a positive sign for money market investments. Moreover, the Fed’s change in monetary policy should bode well for yields on the short-term government securities in which the Fund invests. Floating-rate debt securities, which made up approximately one-third of the Fund’s portfolio at period-end, stand to benefit as short-term interest rates increase. The “secured overnight financing rate” (SOFR)—a key indicator of short-term government money market rates—increased from 0.01% on April 1, 2021, to 0.29% on March 31, 2022.

Fund trailed the iMoneyNet average

For the period, the return of the Money Market Fund slightly trailed 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. During the period, management shortened the maturities of investments in the Fund to take advantage of the increase in yields on shorter-dated government money market securities. As of March 29, 2022, the Fund’s weighted average maturity was 20 days, versus 30 days for the iMoneyNet government fund average. iMoneyNet releases their data on a weekly basis, and March 29 was the last date of release for the month.

32 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

Performance as of March 31, 2022

Money Market Fund					Average annual					Annual operating
		Total return			total return					expenses*
	Inception date		1 year			5 years		10 years			gross		net
Institutional Class	7/1/99		0.00	%		0.98	%	0.54	%		0.12	%	0.12	%
Advisor Class	12/4/15		0.00			0.99		0.53	†		0.22		0.22
Premier Class	9/30/09		0.00			0.88		0.46			0.27		0.27
Retirement Class	3/31/06		0.00			0.86		0.44			0.37		0.37
Retail Class	3/31/06		0.00			0.76		0.38			0.47		0.47
iMoneyNet Money Fund Averages™—All Government§	—		0.02			0.78		0.41			—		—

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

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

*	The gross and net annual operating expenses are taken from the Fund’s prospectus. The net annual operating expenses may at times reflect a contractual reimbursement of various expenses. The expense reimbursement will continue through at least July 31, 2022, 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.
§	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 29, 2022)^‡

	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§		0.07			0.07

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 3/31/2022
Net assets	$1.45 billion
Number of issues	138

TIAA-CREF Funds: Fixed-Income Funds  ■  2022 Annual Report 33

Summary portfolio of investments

Bond Index Fund  ■  March 31, 2022

						% of net
	Principal		Issuer	Value		assets
BONDS
CORPORATE BONDS
AUTOMOBILES & COMPONENTS				$	23,219,531		0.1	%
BANKS
			Bank of America Corp
$	144,490,000		0.981%–6.110%, 01/22/24–07/21/52		138,464,586		0.7
			Other		721,175,537		3.4
					859,640,123		4.1
CAPITAL GOODS					277,477,653		1.3
COMMERCIAL & PROFESSIONAL SERVICES					46,383,168		0.2
CONSUMER DURABLES & APPAREL					23,432,206		0.1
CONSUMER SERVICES					117,157,269		0.6
DIVERSIFIED FINANCIALS
			Morgan Stanley
	91,342,000		0.529%–7.250%, 05/22/23–01/25/52		88,420,037		0.4
			Other		459,489,716		2.2
					547,909,753		2.6
ENERGY					367,134,229		1.7
FOOD & STAPLES RETAILING					30,766,482		0.2
FOOD, BEVERAGE & TOBACCO					192,580,748		0.9
HEALTH CARE EQUIPMENT & SERVICES					265,192,078		1.3
HOUSEHOLD & PERSONAL PRODUCTS					27,528,194		0.1
INSURANCE					184,891,567		0.9
MATERIALS					139,300,208		0.7
MEDIA & ENTERTAINMENT					282,679,860		1.3
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES					260,647,843		1.2
REAL ESTATE					219,762,852		1.0
RETAILING					154,966,407		0.7
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT					110,912,868		0.5
SOFTWARE & SERVICES					213,784,292		1.0
TECHNOLOGY HARDWARE & EQUIPMENT					147,978,117		0.7
TELECOMMUNICATION SERVICES					235,764,290		1.1
TRANSPORTATION					121,231,714		0.6
UTILITIES					484,672,608		2.3
		TOTAL CORPORATE BONDS (Cost $5,536,899,751)			5,335,014,060		25.2
GOVERNMENT BONDS
AGENCY SECURITIES					253,972,193		1.2
FOREIGN GOVERNMENT BONDS					696,335,903		3.3
MORTGAGE BACKED
			Federal National Mortgage Association (FNMA)
	185,191,838		2.500%, 10/01/50		177,124,859		0.9
	110,856,238		2.000%, 11/01/50		103,272,609		0.5
	117,654,838		2.000%, 12/01/50		109,597,454		0.5

						% of net
Principal			Issuer	Value		assets
MORTGAGE BACKED—continued
$	109,812,440		2.500%, 02/01/51	$	104,989,558		0.5	%
	121,238,716		2.000%, 03/01/51		112,872,026		0.5
	145,997,195		2.000%, 04/01/51		135,868,100		0.7
	92,808,104		2.000%, 05/01/51		86,355,821		0.4
	109,821,349		2.000%, 08/01/51		102,250,882		0.5
	131,047,264		2.500%, 08/01/51		125,201,852		0.6
	93,151,866		2.000%, 11/01/51		86,571,703		0.4
	98,567,378		2.000%, 12/01/51		91,749,116		0.4
	88,283,127		2.500%, 12/01/51		84,345,225		0.4
	98,727,272		2.500%, 01/01/52		94,323,506		0.5
	108,624,947		3.000%, 01/01/52		106,376,000		0.5
	94,707,113		2.500%, 03/01/52		90,482,667		0.4
	2,565,225,997		1.000%–8.000%, 10/01/22–04/01/52		2,482,866,313		11.8
			Government National Mortgage Association (GNMA)
	91,632,355		2.500%, 07/20/51		88,993,947		0.4
	198,064,096		2.000%, 11/20/51		189,102,406		0.9
	949,490,834		1.500%–8.500%, 01/20/24–04/20/52		942,590,402		4.4
			Other		498,444,722		2.3
					5,813,379,168		27.5
MUNICIPAL BONDS					169,340,030		0.8
U.S. TREASURY SECURITIES
			United States Treasury Bond
	179,483,000		3.500%, 02/15/39		205,634,233		1.0
	127,500,000		1.375%, 11/15/40		104,236,230		0.5
	82,500,000		3.000%, 02/15/49		90,682,324		0.4
	1,428,710,000		1.125%–5.000%, 02/15/36–02/15/52		1,409,396,890		6.7
			United States Treasury Note
	91,500,000		2.625%, 06/30/23		92,257,734		0.4
	116,000,000		2.750%, 08/31/23		117,064,844		0.6
	99,300,000		2.500%, 01/31/24		99,633,586		0.5
	325,000,000		2.125%, 03/31/24		323,641,601		1.5
	174,000,000		2.250%, 04/30/24		173,537,813		0.8
	111,500,000		2.000%, 05/31/24		110,559,219		0.5
	152,000,000		1.750%, 06/30/24		149,803,126		0.7
	212,000,000		1.750%, 07/31/24		208,687,500		1.0
	90,500,000		1.500%, 10/31/24		88,294,063		0.4
	134,000,000		0.250%, 06/30/25		124,489,141		0.6
	110,000,000		0.250%, 07/31/25		101,982,032		0.5
	97,000,000		0.250%, 10/31/25		89,433,242		0.4
	275,000,000		0.375%, 11/30/25		254,246,094		1.2
	126,000,000		0.375%, 01/31/26		116,092,266		0.6
	137,000,000		0.500%, 02/28/26		126,660,781		0.6
	90,000,000		0.750%, 03/31/26		83,928,515		0.4
	120,000,000		0.750%, 04/30/26		111,768,750		0.5
	165,000,000		0.750%, 05/31/26		153,462,890		0.7
	135,000,000		0.875%, 06/30/26		126,087,891		0.6
	115,000,000		0.750%, 08/31/26		106,586,133		0.5
	170,000,000		1.125%, 10/31/26		159,906,250		0.8
	115,000,000		1.250%, 11/30/26		108,805,273		0.5
	89,500,000		1.750%, 12/31/26		86,598,242		0.4
	95,000,000		2.500%, 03/31/27		95,196,680		0.5
	85,000,000		3.125%, 11/15/28		88,502,930		0.4
	92,000,000		2.375%, 05/15/29		91,734,063		0.4
	117,000,000		1.500%, 02/15/30		109,687,500		0.5
	121,000,000		1.625%, 05/15/31		113,919,610		0.5
	97,000,000		1.875%, 02/15/32		93,150,312		0.4
	2,817,705,000		0.125%–3.000%, 12/15/22–11/15/31		2,719,099,751		13.0
					8,234,767,509		39.0
		TOTAL GOVERNMENT BONDS (Cost $15,828,276,498)			15,167,794,803		71.8

34 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements

Summary portfolio of investments	concluded
Bond Index Fund  ■  March 31, 2022

								% of net
Principal				Issuer	Value			assets
STRUCTURED ASSETS
ASSET BACKED					$	117,822,858			0.6	%
OTHER MORTGAGE BACKED						400,047,272			1.9
			TOTAL STRUCTURED ASSETS (Cost $542,277,609)			517,870,130			2.5
			TOTAL BONDS (Cost $21,907,453,858)			21,020,678,993			99.5
SHORT-TERM INVESTMENTS
GOVERNMENT AGENCY DEBT						158,685,437			0.8
REPURCHASE AGREEMENT
				Fixed Income Clearing Corp (FICC)
$	113,060,000	r		0.250%, 04/01/22		113,060,000			0.5
						113,060,000			0.5
TREASURY DEBT						65,028,485			0.3
	Shares			Company
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES
	64,739,600	c		State Street Navigator Securities Lending Government Money Market Portfolio 0.290%		64,739,600			0.3
			TOTAL SHORT-TERM INVESTMENTS (Cost $401,525,461)			401,513,522			1.9
			TOTAL PORTFOLIO (Cost $22,308,979,319)			21,422,192,515			101.4
			OTHER ASSETS & LIABILITIES, NET			(295,025,651	)		(1.4	)
			NET ASSETS		$	21,127,166,864			100.0	%

c	Investments made with cash collateral received from securities on loan.
r	Agreement with Fixed Income Clearing Corp (FICC), 0.250% dated 3/31/22 to be repurchased at $113,060,000 on 4/1/22, collateralized by Government Agency Securities, with coupon rate 0.125% and maturity date 1/15/32, valued at $115,321,219.

“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 3/31/22, the aggregate value of securities on loan is $66,483,156. See Note 4 in the Notes to financial statements for additional information about securities lending collateral.

At 3/31/22, the aggregate value of securities exempt from registration under Rule 144(A) of the Securities Act of 1933, as amended, amounted to $159,296,131 or 0.8% 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  ■  2022 Annual Report 35

Summary portfolio of investments

Core Bond Fund  ■  March 31, 2022

						% of net
Principal			Issuer	Value		assets
BANK LOAN OBLIGATIONS
AUTOMOBILES & COMPONENTS				$	1,623,812		0.0	%
BANKS					271,906		0.0
CAPITAL GOODS					8,898,601		0.1
COMMERCIAL & PROFESSIONAL SERVICES					17,054,057		0.2
CONSUMER DURABLES & APPAREL					3,487,331		0.0
CONSUMER SERVICES					18,855,259		0.2
DIVERSIFIED FINANCIALS					1,924,763		0.0
ENERGY					4,309,185		0.0
FOOD & STAPLES RETAILING					1,085,788		0.0
FOOD, BEVERAGE & TOBACCO					7,745,323		0.1
HEALTH CARE EQUIPMENT & SERVICES					19,341,942		0.2
HOUSEHOLD & PERSONAL PRODUCTS					2,586,827		0.0
INSURANCE					9,967,884		0.1
MATERIALS					7,101,637		0.1
MEDIA & ENTERTAINMENT					26,986,694		0.3
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES					10,021,185		0.1
REAL ESTATE					1,662,757		0.0
RETAILING					4,162,358		0.0
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT					1,699,090		0.0
SOFTWARE & SERVICES					14,686,836		0.1
TECHNOLOGY HARDWARE & EQUIPMENT					2,051,776		0.0
TELECOMMUNICATION SERVICES					5,132,808		0.1
TRANSPORTATION					6,564,287		0.1
UTILITIES					11,151,850		0.1
		TOTAL BANK LOAN OBLIGATIONS (Cost $191,788,484)			188,373,956		1.8
BONDS
CORPORATE BONDS
AUTOMOBILES & COMPONENTS					45,832,430		0.4
BANKS
			Bank of America Corp
$	56,165,000		1.922%, 10/24/31		48,789,288		0.5
	165,662,000		0.810%–6.300%, 10/24/24–N/A‡		157,502,788		1.5
			Citigroup, Inc
	101,145,000		2.520%–6.300%, 03/26/25–N/A‡		95,999,085		0.9
			JPMorgan Chase & Co
	40,560,000		1.953%, 02/04/32		35,530,663		0.3
	119,495,000		2.005%–6.100%, 10/15/25–N/A‡		116,699,828		1.2
			Other		492,890,785		4.7
					947,412,437		9.1
CAPITAL GOODS					130,168,647		1.3
COMMERCIAL & PROFESSIONAL SERVICES					34,941,363		0.3
CONSUMER DURABLES & APPAREL					16,721,593		0.2

							% of net
Principal				Issuer	Value		assets
CONSUMER SERVICES					$	51,910,525		0.5	%
DIVERSIFIED FINANCIALS						433,478,793		4.2
ENERGY						378,249,411		3.6
FOOD & STAPLES RETAILING						22,196,400		0.2
FOOD, BEVERAGE & TOBACCO						114,819,245		1.1
HEALTH CARE EQUIPMENT & SERVICES						155,766,237		1.5
HOUSEHOLD & PERSONAL PRODUCTS						4,033,820		0.0
INSURANCE						112,009,271		1.1
MATERIALS						142,641,043		1.4
MEDIA & ENTERTAINMENT						223,095,659		2.1
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						102,407,488		1.0
REAL ESTATE						206,860,871		2.0
RETAILING						52,824,253		0.5
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT						51,385,953		0.5
SOFTWARE & SERVICES						61,248,363		0.6
TECHNOLOGY HARDWARE & EQUIPMENT						63,541,847		0.6
TELECOMMUNICATION SERVICES						249,284,875		2.4
TRANSPORTATION						53,219,339		0.5
UTILITIES						310,660,014		3.0
			TOTAL CORPORATE BONDS (Cost $4,232,894,541)			3,964,709,877		38.1
GOVERNMENT BONDS
AGENCY SECURITIES						11,248,318		0.1
FOREIGN GOVERNMENT BONDS						241,480,752		2.3
MORTGAGE BACKED
				Federal Home Loan Mortgage Corp (FHLMC)
$	37,182,454	h		2.000%, 02/01/52		34,592,117		0.3
	41,228,160	h		2.500%, 02/01/52		39,408,085		0.4
	34,480,000	h		2.500%, 03/01/52		33,010,337		0.3
	45,100,000	h		2.500%, 03/01/52		43,097,359		0.4
				Federal National Mortgage Association (FNMA)
	81,105,000			2.000%, 04/25/37		78,770,063		0.8
	50,405,000			2.500%, 04/25/37		49,812,348		0.5
	86,047,097			2.000%, 04/01/51		80,077,261		0.8
	44,942,027	h		2.000%, 12/01/51		41,780,148		0.4
	48,731,203	h		2.500%, 01/01/52		46,567,353		0.5
	35,230,027	h		2.000%, 02/01/52		32,775,598		0.3
	61,991,363			2.500%, 02/01/52		59,238,572		0.6
	37,026,626	h		2.500%, 02/01/52		35,415,425		0.3
	34,474,000			2.500%, 04/25/52		32,890,351		0.3
	232,150,000			3.000%, 04/25/52		227,071,719		2.2
	37,240,000	h		3.500%, 05/25/52		37,175,568		0.4
	494,736,296			2.000%–8.000%, 07/01/24–04/25/52		447,100,583		4.2
				Government National Mortgage Association (GNMA)
	39,685,000			2.000%, 04/20/52		37,750,356		0.4
	101,865,000			2.500%, 04/20/52		98,797,112		0.9
	93,545,000			3.000%, 04/20/52		92,445,116		0.9
				Other		346,150,234		3.3
						1,893,925,705		18.2

36 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements

Summary portfolio of investments	continued
Core Bond Fund  ■  March 31, 2022

							% of net
Principal				Issuer	Value		assets
MUNICIPAL BONDS					$	147,764,866		1.4	%
U.S. TREASURY SECURITIES
				United States Treasury Bond
$	94,834,100			2.250%, 02/15/42		91,470,453		0.9
	42,835,000			2.750%, 11/15/47		44,444,659		0.4
	55,445,000			3.000%, 02/15/48		60,406,894		0.6
	45,841,000			3.375%, 11/15/48		53,676,946		0.5
	79,028,000			1.875%, 11/15/51		69,322,374		0.7
	254,369,000			2.250%, 02/15/52		243,955,769		2.3
				United States Treasury Note
	383,215,000	e		1.500%, 02/29/24		377,631,439		3.6
	350,000,000			0.250%, 03/15/24		336,218,750		3.2
	40,000,000			0.875%, 09/30/26		37,232,812		0.4
	173,795,000			1.250%, 12/31/26		164,202,331		1.6
	268,315,000			1.875%, 02/28/27		261,124,995		2.5
	135,250,000			1.875%, 02/28/29		130,558,516		1.3
	104,636,000			1.875%, 02/15/32		100,483,259		1.0
				Other		193,101,784		1.8
						2,163,830,981		20.8
			TOTAL GOVERNMENT BONDS (Cost $4,543,466,783)			4,458,250,622		42.8
STRUCTURED ASSETS
ASSET BACKED						632,395,607		6.1
OTHER MORTGAGE BACKED
				JP Morgan Mortgage Trust
	94,776,072	g,i		1.407%–4.629%, 12/25/44–08/25/52,
				LIBOR 1 M – 0.000%–LIBOR 1 M + 0.950%		88,336,602		0.8
				Other		802,133,650		7.7
						890,470,252		8.5
			TOTAL STRUCTURED ASSETS (Cost $1,606,391,563)			1,522,865,859		14.6
			TOTAL BONDS (Cost $10,382,752,887)			9,945,826,358		95.5
	Shares			Company
COMMON STOCKS
MATERIALS						739,483		0.0
			TOTAL COMMON STOCKS (Cost $456,161)			739,483		0.0
PREFERRED STOCKS
DIVERSIFIED FINANCIALS						10,658,000		0.1
			TOTAL PREFERRED STOCKS (Cost $11,284,000)			10,658,000		0.1
	Principal			Issuer
SHORT-TERM INVESTMENTS
GOVERNMENT AGENCY DEBT
				Federal Home Loan Bank (FHLB)
$	46,100,000			0.000%, 04/01/22		46,100,000		0.4
	75,470,000			0.000%, 04/05/22		75,468,576		0.7
	50,212,000			0.000%, 04/06/22		50,210,816		0.5
	73,477,000			0.000%, 04/18/22		73,471,102		0.7
	60,900,000			0.000%, 04/20/22		60,894,541		0.6

								% of net
Principal				Issuer	Value			assets
GOVERNMENT AGENCY DEBT—continued
$	49,500,000			0.000%, 04/22/22	$	49,495,096			0.5	%
	42,500,000			0.000%, 04/29/22		42,494,386			0.4
	45,000,000			0.000%, 05/05/22		44,982,191			0.4
	40,000,000			0.000%, 05/06/22		39,983,704			0.4
	37,750,000			0.000%, 05/11/22		37,732,424			0.4
	32,500,000			0.000%, 05/18/22		32,482,221			0.3
	70,000,000			0.000%, 05/27/22		69,954,454			0.7
	35,000,000			0.000%, 07/07/22		34,928,671			0.3
	35,000,000			0.000%, 08/02/22		34,891,839			0.3
	295,207,000			0.000%–0.000%, 04/04/22–09/16/22		294,812,454			2.9
				Other		284,431,524			2.7
						1,272,333,999			12.2
REPURCHASE AGREEMENT
				Fixed Income Clearing Corp (FICC)
	100,600,000	r		0.250%, 04/01/22		100,600,000			1.0
						100,600,000			1.0
TREASURY DEBT
				United States Treasury Note
	50,000,000			0.000%, 05/15/22		50,088,581			0.5
				Other		69,828,190			0.6
						119,916,771			1.1
	Shares			Company
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES
	424,299,963	c		State Street Navigator Securities Lending Government Money Market Portfolio 0.290%		424,299,963			4.1
						424,299,963			4.1
			TOTAL SHORT-TERM INVESTMENTS (Cost $1,918,006,669)			1,917,150,733			18.4
			TOTAL PORTFOLIO (Cost $12,504,288,201)			12,062,748,530			115.8
			OTHER ASSETS & LIABILITIES, NET			(1,648,222,904	)		(15.8	)
			NET ASSETS		$	10,414,525,626			100.0	%

LIBOR	London Interbank Offered Rate
M	Month

‡	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 $417,608,736. 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 3/31/22, the aggregate value of these securities, including those in “Other,” is $2,384,900,305 or 22.9% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.
i	Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.
r	Agreement with Fixed Income Clearing Corp (FICC), 0.250% dated 3/31/22 to be repurchased at $100,600,000 on 4/1/22, collateralized by Government Agency Securities, with coupon rate 0.125% and maturity date 7/15/31, valued at $102,612,053.

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

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

See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2022 Annual Report 37

Summary portfolio of investments	concluded
Core Bond Fund  ■  March 31, 2022

Futures contracts outstanding as of March 31, 2022 were as follows:

Description	Number of long (short contracts	)	Expiration date	Notional amount				Value		Unrealized appreciation (depreciation		)
US Ultra 10 Year Bond	(178	)	06/21/22	$	(24,817,670	)	$	(24,113,438	)	$	704,232

38 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements

Summary portfolio of investments

Core Impact Bond Fund  ■  March 31, 2022

						% of net
Principal			Issuer	Value		assets
BANK LOAN OBLIGATIONS
COMMERCIAL & PROFESSIONAL SERVICES				$	15,586,163		0.2	%
MATERIALS					178,301		0.0
UTILITIES					7,446,788		0.1
		TOTAL BANK LOAN OBLIGATIONS (Cost $23,435,424)			23,211,252		0.3
BONDS
CORPORATE BONDS
AUTOMOBILES & COMPONENTS					56,528,051		0.8
BANKS					507,020,475		7.3
CAPITAL GOODS					81,369,767		1.2
COMMERCIAL & PROFESSIONAL SERVICES					38,999,587		0.6
CONSUMER DURABLES & APPAREL					5,414,547		0.1
CONSUMER SERVICES					88,237,741		1.3
DIVERSIFIED FINANCIALS					350,529,557		5.1
ENERGY					187,346,703		2.7
FOOD & STAPLES RETAILING					26,835,467		0.4
FOOD, BEVERAGE & TOBACCO					33,369,203		0.5
HEALTH CARE EQUIPMENT & SERVICES					17,993,453		0.2
HOUSEHOLD & PERSONAL PRODUCTS					22,074,182		0.3
INSURANCE					107,438,511		1.5
MATERIALS					101,054,979		1.5
MEDIA & ENTERTAINMENT					60,906,960		0.9
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES					151,993,945		2.2
REAL ESTATE					142,718,240		2.1
RETAILING					33,457,364		0.5
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT					16,623,636		0.2
SOFTWARE & SERVICES					38,611,715		0.6
TECHNOLOGY HARDWARE & EQUIPMENT					13,936,996		0.2
TELECOMMUNICATION SERVICES					46,003,948		0.7
TRANSPORTATION					26,599,255		0.4
UTILITIES					700,816,842		10.1
		TOTAL CORPORATE BONDS (Cost $3,034,932,736)			2,855,881,124		41.4
GOVERNMENT BONDS
AGENCY SECURITIES
			Federal Home Loan Mortgage Corp (FHLMC)
$	23,000,000		0.375%, 05/05/23		22,642,400		0.3
	22,692,000		0.250%, 12/04/23		21,964,389		0.3
			Other		233,338,365		3.4
					277,945,154		4.0
FOREIGN GOVERNMENT BONDS					408,066,317		5.9

							% of net
Principal				Issuer	Value		assets
MORTGAGE BACKED
				Federal Home Loan Mortgage Corp (FHLMC)
$	18,999,012			4.000%, 06/01/48	$	19,661,102		0.3	%
	21,557,857	h		2.500%, 02/01/52		20,606,155		0.3
	20,530,000	h		2.500%, 03/01/52		19,618,377		0.3
				Federal National Mortgage Association (FNMA)
	45,450,000	h		2.000%, 04/25/37		44,141,537		0.6
	22,530,000	h		2.500%, 04/25/37		22,265,097		0.3
	38,880,878			2.000%, 04/01/51		36,183,373		0.5
	23,326,584	h		2.000%, 12/01/51		21,685,451		0.3
	22,146,033	h		2.500%, 01/01/52		21,162,665		0.3
	23,290,942	h		2.500%, 02/01/52		22,277,445		0.3
	29,147,270	h		2.500%, 02/01/52		27,852,955		0.4
	33,830,000	h		2.000%, 04/25/52		31,402,433		0.5
	103,190,000	h		3.000%, 04/25/52		100,932,719		1.5
	30,840,000	h		3.500%, 05/25/52		30,786,641		0.5
	347,823,439	h		1.250%–5.500%, 04/24/26–04/25/52		315,035,140		4.6
				Government National Mortgage Association (GNMA)
	38,180,000	h		2.000%, 04/20/52		36,318,725		0.5
	87,285,000	h		2.500%, 04/20/52		84,656,221		1.2
	64,510,000	h		3.000%, 04/20/52		63,751,504		0.9
				Other		175,353,025		2.5
						1,093,690,565		15.8
MUNICIPAL BONDS
				Chicago Metropolitan Water Reclamation District-Greater Chicago
	16,465,000			5.720%, 12/01/38		20,362,598		0.3
				City of San Francisco CA Public Utilities Commission Water Revenue
	22,745,000			2.825%, 11/01/41		19,975,203		0.3
				Other		416,015,594		6.0
						456,353,395		6.6
U.S. TREASURY SECURITIES
				United States Treasury Inflation Indexed Bonds
	22,288,800	k		0.500%, 04/15/24		23,425,877		0.3
				United States Treasury Bond
	56,467,800			2.250%, 02/15/42		54,464,958		0.8
	46,377,000			1.875%, 11/15/51		40,681,325		0.6
				United States Treasury Note
	31,140,000			0.125%, 03/31/23		30,654,654		0.5
	35,655,000	e		1.500%, 02/29/24		35,135,495		0.5
	67,316,000			1.750%, 03/15/25		65,890,794		1.0
	175,865,000			1.875%, 02/28/27		171,152,367		2.5
	46,750,000			1.125%, 08/31/28		43,072,089		0.6
	49,685,000			1.875%, 02/28/29		47,961,551		0.7
	181,497,000			1.875%, 02/15/32		174,293,838		2.5
				Other		84,018,582		1.2
						770,751,530		11.2
			TOTAL GOVERNMENT BONDS (Cost $3,095,612,543)			3,006,806,961		43.5
STRUCTURED ASSETS
ASSET BACKED						324,808,366		4.7
OTHER MORTGAGE BACKED						505,409,010		7.3
			TOTAL STRUCTURED ASSETS (Cost $879,023,604)			830,217,376		12.0
			TOTAL BONDS (Cost $7,009,568,883)			6,692,905,461		96.9

See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2022 Annual Report 39

Summary portfolio of investments	concluded
Core Impact Bond Fund  ■  March 31, 2022

							% of net
Shares				Company	Value		assets
PREFERRED STOCKS
BANKS					$	10,172,400		0.2	%
REAL ESTATE						22,874,600		0.3
UTILITIES						17,058,580		0.2
			TOTAL PREFERRED STOCKS (Cost $59,575,000)			50,105,580		0.7
	Principal			Issuer
SHORT-TERM INVESTMENTS
GOVERNMENT AGENCY DEBT
				Federal Farm Credit Bank (FFCB)
$	20,000,000			0.000%, 04/26/22		19,997,641		0.3
	19,230,000			0.000%, 09/01/22		19,144,823		0.3
	109,920,000			0.000%–0.000%, 04/11/22–09/23/22		109,736,341		1.5
				Federal Home Loan Bank (FHLB)
	35,000,000			0.000%, 04/01/22		35,000,000		0.5
	29,110,000			0.000%, 04/05/22		29,109,451		0.4
	32,500,000			0.000%, 04/08/22		32,498,926		0.5
	49,000,000			0.000%, 04/18/22		48,996,067		0.7
	25,610,000			0.000%, 04/22/22		25,607,463		0.4
	20,283,000			0.000%, 05/05/22		20,274,973		0.3
	25,000,000			0.000%, 05/11/22		24,988,360		0.4
	20,000,000			0.000%, 05/18/22		19,989,059		0.3
	25,000,000			0.000%, 05/23/22		24,984,870		0.4
	25,000,000			0.000%, 05/24/22		24,984,579		0.4
	25,000,000			0.000%, 05/27/22		24,983,744		0.4
	20,000,000			0.000%, 06/30/22		19,969,120		0.3
	30,000,000			0.000%, 07/07/22		29,938,861		0.4
	20,000,000			0.000%, 08/03/22		19,937,692		0.3
	152,460,000			0.000%–0.000%, 04/06/22–08/05/22		152,324,302		2.1
				Other		12,806,927		0.2
						695,273,199		10.1
REPURCHASE AGREEMENT
				Fixed Income Clearing Corp (FICC)
	132,990,000	r		0.250%, 04/01/22		132,990,000		1.9
						132,990,000		1.9
TREASURY DEBT
				United States Treasury Bill
	20,000,000			0.000%, 05/12/22		19,995,638		0.3
				United States Treasury Note
	25,000,000			0.000%, 05/15/22		25,044,291		0.4
				Other		32,506,259		0.4
						77,546,188		1.1
	Shares			Company
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES
	78,113,139	c		State Street Navigator Securities Lending Government Money Market Portfolio 0.290%		78,113,139		1.1
						78,113,139		1.1

				% of net
	Value			assets
TOTAL SHORT-TERM INVESTMENTS (Cost $984,318,448)	$	983,922,526			14.2	%
TOTAL PORTFOLIO (Cost $8,076,897,755)		7,750,144,819			112.1
OTHER ASSETS & LIABILITIES, NET		(835,371,002	)		(12.1	)
NET ASSETS	$	6,914,773,817			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 $76,462,696. 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.
k	Principal amount for interest accrual purposes is periodically adjusted based on changes in the Consumer Price Index.
r	Agreement with Fixed Income Clearing Corporation, 0.250% dated 3/31/22 to be repurchased at $132,990,000 on 4/1/22, collateralized by Government Agency Securities, with coupon rate 0.125% and maturity date 1/15/32, valued at $135,649,823.

“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 3/31/22, the aggregate value of securities exempt from registration under Rule 144(A) of the Securities Act of 1933, as amended, amounted to $1,739,937,876 or 25.2% 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.

40 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements

Summary portfolio of investments

Core Plus Bond Fund  ■  March 31, 2022

						% of net
Principal			Issuer	Value		assets
BANK LOAN OBLIGATIONS
AUTOMOBILES & COMPONENTS				$	2,423,819		0.1	%
BANKS					543,813		0.0
CAPITAL GOODS					5,966,368		0.1
COMMERCIAL & PROFESSIONAL SERVICES					17,002,621		0.3
CONSUMER DURABLES & APPAREL					4,109,624		0.1
CONSUMER SERVICES					14,338,262		0.3
DIVERSIFIED FINANCIALS					724,309		0.0
ENERGY					1,889,966		0.0
FOOD, BEVERAGE & TOBACCO					3,914,510		0.1
HEALTH CARE EQUIPMENT & SERVICES					12,991,021		0.3
HOUSEHOLD & PERSONAL PRODUCTS					1,846,427		0.0
INSURANCE					5,858,549		0.1
MATERIALS					6,964,732		0.1
MEDIA & ENTERTAINMENT					25,176,641		0.5
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES					6,971,262		0.1
REAL ESTATE					1,215,056		0.0
RETAILING					5,811,460		0.1
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT					1,647,824		0.0
SOFTWARE & SERVICES					13,755,264		0.3
TECHNOLOGY HARDWARE & EQUIPMENT					2,062,661		0.1
TELECOMMUNICATION SERVICES					4,984,010		0.1
TRANSPORTATION					7,183,354		0.1
UTILITIES					6,077,705		0.1
		TOTAL BANK LOAN OBLIGATIONS (Cost $155,618,209)			153,459,258		2.9
BONDS
CORPORATE BONDS
AUTOMOBILES & COMPONENTS					32,565,411		0.6
BANKS
			Bank of America Corp
$	19,525,000		0.810%, 10/24/24		18,890,703		0.4
	22,795,000		2.592%, 04/29/31		21,029,903		0.4
			Citigroup, Inc
	58,805,000		2.520%–6.300%, 03/26/25–N/A‡		57,206,187		1.1
			JPMorgan Chase & Co
	56,365,000		1.953%–6.100%, 05/18/23–N/A‡		53,678,480		1.0
			Other		301,833,714		5.7
					452,638,987		8.6
CAPITAL GOODS					61,091,919		1.2
COMMERCIAL & PROFESSIONAL SERVICES					22,333,607		0.4
CONSUMER DURABLES & APPAREL					11,273,048		0.2

							% of net
Principal				Issuer	Value		assets
CONSUMER SERVICES					$	27,382,471		0.5	%
DIVERSIFIED FINANCIALS						251,881,837		4.8
ENERGY						203,865,828		3.9
FOOD & STAPLES RETAILING						17,446,921		0.3
FOOD, BEVERAGE & TOBACCO						64,857,110		1.2
HEALTH CARE EQUIPMENT & SERVICES						89,755,483		1.7
HOUSEHOLD & PERSONAL PRODUCTS						1,364,476		0.0
INSURANCE						41,295,379		0.8
MATERIALS						98,949,899		1.9
MEDIA & ENTERTAINMENT						144,165,129		2.7
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						50,779,787		1.0
REAL ESTATE						92,754,039		1.8
RETAILING						31,275,424		0.6
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT						24,592,468		0.5
SOFTWARE & SERVICES						24,823,157		0.5
TECHNOLOGY HARDWARE & EQUIPMENT						28,673,565		0.6
TELECOMMUNICATION SERVICES						124,584,559		2.4
TRANSPORTATION						32,548,504		0.6
UTILITIES						159,716,469		3.0
			TOTAL CORPORATE BONDS (Cost $2,202,166,965)			2,090,615,477		39.8
GOVERNMENT BONDS
FOREIGN GOVERNMENT BONDS						170,848,986		3.3
MORTGAGE BACKED
				Federal Home Loan Mortgage Corp (FHLMC)
$	45,090,414			3.000%, 11/01/49		44,383,834		0.9
	16,032,071	h		2.000%, 02/01/52		14,915,187		0.3
	17,246,286	h		2.500%, 02/01/52		16,484,924		0.3
	15,700,000	h		2.500%, 03/01/52		15,030,809		0.3
	20,520,000	h		2.500%, 03/01/52		19,608,821		0.4
				Federal National Mortgage Association (FNMA)
	38,345,000			2.000%, 04/25/37		37,241,083		0.7
	16,855,000			2.500%, 04/25/37		16,656,822		0.3
	36,453,675			2.000%, 04/01/51		33,924,566		0.7
	19,363,425	h		2.000%, 12/01/51		18,001,118		0.4
	22,146,033	h		2.500%, 01/01/52		21,162,665		0.4
	15,129,159	h		2.500%, 02/01/52		14,470,819		0.3
	27,865,307			2.500%, 02/01/52		26,627,918		0.5
	18,075,652			3.500%, 02/01/52		18,288,129		0.4
	18,595,000			2.000%, 04/25/52		17,260,664		0.3
	76,782,000			3.000%, 04/25/52		75,102,394		1.4
	287,343,100			2.000%–9.000%, 07/01/22–04/25/52		260,998,190		4.9
				Government National Mortgage Association (GNMA)
	39,215,000			2.500%, 04/20/52		38,033,954		0.7
	42,815,000			3.000%, 04/20/52		42,311,589		0.8
				Other		154,738,209		2.9
						885,241,695		16.9

See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2022 Annual Report 41

Summary portfolio of investments	continued
Core Plus Bond Fund  ■  March 31, 2022

							% of net
Principal				Issuer	Value		assets
MUNICIPAL BONDS					$	79,698,812		1.5	%
U.S. TREASURY SECURITIES
				United States Treasury Inflation Indexed Bonds
$	25,349,000	k		0.125%, 01/15/32		26,957,572		0.5
				United States Treasury Bond
	22,630,000			2.250%, 05/15/41		21,363,250		0.4
	40,800,000			1.750%, 08/15/41		35,362,125		0.7
	19,500,000			2.000%, 11/15/41		17,644,453		0.3
	81,886,900			2.250%, 02/15/42		78,982,474		1.5
	23,295,000			1.875%, 11/15/51		20,434,083		0.4
	196,961,000	d		2.250%, 02/15/52		188,897,909		3.6
	61,380,000			0.125%–2.500%, 06/30/22–02/15/41		59,017,250		1.2
				United States Treasury Note
	19,715,000			0.125%, 01/31/23		19,481,654		0.4
	89,430,000	e		1.500%, 02/29/24		88,126,977		1.7
	67,270,000			1.875%, 02/28/27		65,467,374		1.2
	35,225,000			1.875%, 02/28/29		34,003,133		0.6
	52,200,000			1.875%, 02/15/32		50,128,313		0.9
						705,866,567		13.4
			TOTAL GOVERNMENT BONDS (Cost $1,894,941,790)			1,841,656,060		35.1
STRUCTURED ASSETS
ASSET BACKED						457,444,230		8.7
OTHER MORTGAGE BACKED
				COMM Mortgage Trust
	46,238,000	g		3.000%–5.262%, 03/10/46–10/10/48		44,563,883		0.8
				Other		450,566,203		8.6
						495,130,086		9.4
			TOTAL STRUCTURED ASSETS (Cost $1,006,902,565)			952,574,316		18.1
			TOTAL BONDS (Cost $5,104,011,320)			4,884,845,853		93.0
	Shares			Company
COMMON STOCKS
ENERGY						16		0.0
MATERIALS						845,124		0.0
REAL ESTATE						11,430		0.0
			TOTAL COMMON STOCKS (Cost $1,019,745)			856,570		0.0
PREFERRED STOCKS
BANKS						5,636,000		0.1
DIVERSIFIED FINANCIALS						3,825,357		0.1
			TOTAL PREFERRED STOCKS (Cost $8,826,338)			9,461,357		0.2

								% of net
Principal				Issuer	Value			assets
SHORT-TERM INVESTMENTS
GOVERNMENT AGENCY DEBT
				Federal Farm Credit Bank (FFCB)
$	32,495,000			0.000%, 04/29/22	$	32,490,707			0.6	%
	23,608,000			0.000%, 06/16/22		23,577,215			0.4
	19,230,000	h		0.000%, 09/01/22		19,144,823			0.4
	54,379,000			0.000%–0.000%, 04/11/22-07/25/22		54,318,592			1.1
				Federal Home Loan Bank (FHLB)
	35,000,000			0.000%, 04/01/22		35,000,000			0.7
	30,000,000			0.000%, 04/05/22		29,999,434			0.6
	38,000,000			0.000%, 04/06/22		37,999,104			0.7
	37,500,000			0.000%, 04/08/22		37,498,761			0.7
	44,750,000			0.000%, 04/18/22		44,746,408			0.8
	15,995,000			0.000%, 05/04/22		15,988,856			0.3
	40,000,000			0.000%, 05/05/22		39,984,170			0.8
	23,500,000			0.000%, 05/06/22		23,490,426			0.4
	25,000,000			0.000%, 05/23/22		24,984,870			0.5
	25,000,000			0.000%, 05/27/22		24,983,744			0.5
	17,820,000			0.000%, 06/17/22		17,796,457			0.3
	20,000,000			0.000%, 06/30/22		19,969,120			0.4
	20,000,000			0.000%, 08/03/22		19,937,692			0.4
	58,450,000			0.000%–0.000%, 04/07/22-07/19/22		58,412,704			1.1
				Other		4,999,111			0.1
						565,322,194			10.8
REPURCHASE AGREEMENT
				Fixed Income Clearing Corp (FICC)
	15,915,000	r		0.250%, 04/01/22		15,915,000			0.3
						15,915,000			0.3
TREASURY DEBT
				United States Treasury Note
	25,000,000			1.750%, 05/15/22		25,044,291			0.5
				Other		43,365,675			0.8
						68,409,966			1.3
	Shares			Company
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES
	119,034,091	c		State Street Navigator Securities Lending Government Money Market Portfolio 0.290%		119,034,091			2.3
						119,034,091			2.3
			TOTAL SHORT-TERM INVESTMENTS (Cost $769,319,301)			768,681,251			14.7
			TOTAL PORTFOLIO (Cost $6,038,794,913)			5,817,304,289			110.8
			OTHER ASSETS & LIABILITIES, NET			(566,191,828	)		(10.8	)
			NET ASSETS		$	5,251,112,461			100.0	%

42 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements

Summary portfolio of investments	concluded
Core Plus Bond Fund  ■  March 31, 2022

‡	Perpetual security
c	Investments made with cash collateral received from securities on loan.
d	All or a portion of these securities have been segregated to cover margin requirements on open futures contracts.
e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $117,248,148. 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 3/31/22, the aggregate value of these securities, including those in “Other,” is $1,598,345,438 or 30.4% 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.
r	Agreement with Fixed Income Clearing Corp (FICC), 0.250% dated 3/31/22 to be repurchased at $15,915,000 on 4/1/22, collateralized by Government Agency Securities, with coupon rate 2.375% and maturity date 3/31/29, valued at $16,233,347.

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

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

Futures contracts outstanding as of March 31, 2022 were as follows:

Description	Number of long (short contracts	)	Expiration date	Notional amount			Value			Unrealized appreciation (depreciation		)
US Ultra 10 Year Bond	(177	)	06/21/22	$	(24,678,245	)	$	(23,977,969	)		$700,276

See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2022 Annual Report 43

Summary portfolio of investments

5–15 Year Laddered Tax-Exempt Bond Fund  ■  March 31, 2022

Principal			Issuer	Value		% of net assets
LONG-TERM MUNICIPAL BONDS
ALABAMA
			Lower Alabama Gas District
$	2,900,000	i	4.000%, 12/01/50	$	2,997,393		1.1	%
			Other		3,255,114		1.2
					6,252,507		2.3
ALASKA
			Borough of Matanuska-Susitna AK
	2,570,000		5.000%, 09/01/25		2,796,854		1.0
			Other		547,804		0.2
					3,344,658		1.2
ARIZONA
			Chandler Industrial Development Authority
	2,000,000	i	5.000%, 06/01/49		2,115,265		0.8
			Other		208,876		0.1
					2,324,141		0.9
ARKANSAS					1,158,336		0.4
CALIFORNIA
			California Health Facilities Financing Authority
	1,510,000		5.000%, 09/01/33		1,713,451		0.6
			City of Los Angeles Department of Airports
	2,000,000		5.000%, 05/15/27		2,196,522		0.8
			San Francisco City & County Airport Comm-San Francisco International Airport
	1,405,000		5.000%, 05/01/31		1,635,015		0.6
			Other		6,471,468		2.5
					12,016,456		4.5
COLORADO
			City & County of Denver CO Airport System Revenue
	1,500,000		5.000%, 11/15/30		1,675,860		0.6
			Other		2,424,274		0.9
					4,100,134		1.5
CONNECTICUT
			City of Bridgeport CT
	1,900,000		5.000%, 06/01/34		2,215,056		0.8
			University of Connecticut
	2,000,000		5.000%, 03/15/28		2,204,134		0.8
			Other		6,932,873		2.6
					11,352,063		4.2
DISTRICT OF COLUMBIA
			Metropolitan Washington Airports Authority Aviation Revenue
	2,680,000		5.000%, 10/01/28		3,041,381		1.1
	3,800,000		5.000%, 10/01/32		4,445,824		1.7
			Other		1,072,458		0.4
					8,559,663		3.2
FLORIDA
			County of Miami-Dade FL Aviation Revenue
	1,500,000		4.000%, 10/01/36		1,588,178		0.6
			Escambia County Health Facilities Authority
	3,000,000		5.000%, 08/15/32		3,432,783		1.3

Principal		Issuer	Value		% of net assets
FLORIDA—continued
		Miami-Dade County Expressway Authority
$	1,375,000	5.000%, 07/01/31	$	1,522,701		0.6	%
		Port St. Lucie Community Redevelopment Agency
	2,180,000	5.000%, 01/01/26		2,391,946		0.9
		Other		8,044,746		3.0
				16,980,354		6.4
GEORGIA
		Municipal Electric Authority of Georgia
	2,500,000	5.000%, 01/01/62		2,808,555		1.1
		Other		8,489,240		3.1
				11,297,795		4.2
GUAM				442,260		0.2
HAWAII				3,652,276		1.4
ILLINOIS
		Chicago Board of Education
	1,500,000	5.000%, 12/01/26		1,626,420		0.6
		Chicago Midway International Airport
	2,000,000	5.000%, 01/01/26		2,166,011		0.8
		City of Chicago IL
	3,250,000	5.000%, 01/01/28		3,542,480		1.3
		City of Chicago IL, GO
	1,500,000	5.500%, 01/01/35		1,605,800		0.6
		County of Cook IL
	1,750,000	5.000%, 11/15/31		1,936,769		0.7
		Metropolitan Water Reclamation District of Greater Chicago
	2,000,000	5.000%, 12/01/30		2,242,278		0.9
		Sales Tax Securitization Corp
	1,500,000	5.000%, 01/01/30		1,680,673		0.6
		State of Illinois
	2,000,000	5.000%, 06/01/28		2,169,874		0.8
	1,500,000	5.000%, 03/01/37		1,663,633		0.6
		Other		13,733,668		5.2
				32,367,606		12.1
INDIANA				1,495,306		0.6
IOWA				542,055		0.2
KENTUCKY				2,794,695		1.0
LOUISIANA				3,376,550		1.3
MAINE				84,324		0.0
MARYLAND
		County of Baltimore MD
	2,000,000	4.000%, 01/01/29		2,196,743		0.8
				2,196,743		0.8
MASSACHUSETTS
		University of Massachusetts Building Authority
	2,100,000	5.000%, 11/01/29		2,500,130		0.9
		Other		559,629		0.2
				3,059,759		1.1

44 2022 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, 2022

Principal		Issuer	Value		% of net assets
MICHIGAN
		Michigan Finance Authority
$	2,000,000	5.000%, 04/01/25	$	2,163,224		0.8	%
	2,000,000	5.000%, 11/15/28		2,219,894		0.8
	1,650,000	5.000%, 07/01/44		1,666,021		0.6
		State of Michigan Trunk Line Revenue
	1,750,000	5.000%, 11/15/30		2,113,848		0.8
		Other		3,591,473		1.4
				11,754,460		4.4
MINNESOTA				1,845,114		0.7
MISSISSIPPI				3,394,434		1.3
MISSOURI
		City of Kansas City MO Sanitary Sewer System Revenue
	2,500,000	3.000%, 01/01/37		2,507,268		1.0
		St. Louis Municipal Finance Corp
	1,745,000	5.000%, 02/15/26		1,924,433		0.7
		Other		3,480,893		1.3
				7,912,594		3.0
NEVADA				1,089,699		0.4
NEW HAMPSHIRE				149,472		0.1
NEW JERSEY
		New Jersey Economic Development Authority
	2,500,000	5.000%, 11/01/35		2,792,888		1.1
		New Jersey Transportation Trust Fund Authority
	4,000,000	5.000%, 06/15/34		4,451,743		1.7
		Other		8,399,928		3.1
				15,644,559		5.9
NEW YORK
		New York State Dormitory Authority
	1,750,000	5.000%, 07/01/33		1,974,631		0.7
		Port Authority of New York & New Jersey
	1,500,000	5.000%, 07/15/31		1,735,538		0.7
	1,625,000	4.000%, 07/15/36		1,700,600		0.6
		Other		10,530,473		4.0
				15,941,242		6.0
NORTH CAROLINA				4,238,340		1.6
NORTH DAKOTA				999,847		0.4
OHIO
		County of Miami OH
	1,500,000	5.000%, 08/01/32		1,715,153		0.7
		Other		5,695,132		2.1
				7,410,285		2.8
OKLAHOMA
		Oklahoma Development Finance Authority
	1,500,000	5.250%, 08/15/48		1,609,198		0.6
		Other		848,673		0.3
				2,457,871		0.9
OREGON				1,473,737		0.5

Principal				Issuer	Value		% of net assets
PENNSYLVANIA
				School District of the City of Erie
$	1,500,000			5.000%, 04/01/28	$	1,708,130		0.6	%
				Other		6,852,534		2.6
						8,560,664		3.2
RHODE ISLAND						930,944		0.3
SOUTH CAROLINA
				Center for Arts & Health Sciences Public Facilities Corp
	2,000,000			4.000%, 10/01/37		2,216,123		0.8
				Other		3,358,514		1.3
						5,574,637		2.1
TENNESSEE
				Metropolitan Nashville Airport Authority
	2,305,000			5.000%, 07/01/35		2,605,804		1.0
				Other		974,445		0.3
						3,580,249		1.3
TEXAS
				City of El Paso TX Airport Revenue
	2,000,000			5.000%, 08/15/28		2,249,448		0.8
				City of Houston TX
	1,970,000			5.000%, 03/01/32		2,204,976		0.8
				City of Houston TX Combined Utility System Revenue
	3,000,000			5.000%, 11/15/29		3,559,903		1.4
				Texas Private Activity Bond Surface Transportation Corp
	2,500,000			5.000%, 12/31/35		2,798,534		1.1
				Other		14,448,548		5.4
						25,261,409		9.5
UTAH						2,758,884		1.0
VIRGIN ISLANDS
				Virgin Islands Public Finance Authority
	2,000,000	g		5.000%, 09/01/25		2,142,559		0.8
	2,500,000	g		5.000%, 09/01/33		2,692,222		1.0
						4,834,781		1.8
VIRGINIA						445,729		0.2
WASHINGTON
				Washington Health Care Facilities Authority
	1,500,000	i		4.000%, 10/01/42		1,660,694		0.7
				Other		2,797,575		1.0
						4,458,269		1.7
WEST VIRGINIA						3,376,981		1.3
			TOTAL LONG-TERM MUNICIPAL BONDS (Cost $270,706,524)			261,491,882		97.9
			TOTAL PORTFOLIO (Cost $270,706,524)			261,491,882		97.9
			OTHER ASSETS & LIABILITIES, NET			5,573,901		2.1
			NET ASSETS		$	267,065,783		100.0	%

See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2022 Annual Report 45

Summary portfolio of investments	concluded
5–15 Year Laddered Tax-Exempt Bond Fund  ■  March 31, 2022

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 3/31/22, the aggregate value of these securities, including those in “Other,” is $6,909,906 or 2.6% of net assets.
i	Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.

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

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

46 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements

Summary portfolio of investments

Green Bond Fund  ■  March 31, 2022

Principal				Issuer	Value		% of net assets
BANK LOAN OBLIGATIONS
COMMERCIAL & PROFESSIONAL SERVICES					$	486,331		0.5	%
UTILITIES						483,558		0.4
			TOTAL BANK LOAN OBLIGATIONS (Cost $977,994)			969,889		0.9
BONDS
CORPORATE BONDS
AUTOMOBILES & COMPONENTS						773,130		0.7
BANKS
				ABN AMRO Bank NV
$	1,200,000	g		2.470%, 12/13/29		1,096,796		1.1
				Canadian Imperial Bank of Commerce
	1,000,000			0.950%, 10/23/25		919,944		0.9
				ING Groep NV
	1,000,000	g		1.400%, 07/01/26		925,132		0.9
				Other		1,856,997		1.7
						4,798,869		4.6
CAPITAL GOODS
				Xylem, Inc
	1,000,000			1.950%, 01/30/28		925,484		0.9
	755,000			2.250%, 01/30/31		685,796		0.7
				Other		223,194		0.2
						1,834,474		1.8
COMMERCIAL & PROFESSIONAL SERVICES
				International Bank for Reconstruction & Development
	1,000,000			0.000%, 03/31/27		943,723		0.9
						943,723		0.9
CONSUMER DURABLES & APPAREL						227,502		0.2
CONSUMER SERVICES
				Nature Conservancy
	1,000,000			3.957%, 03/01/52		1,032,097		1.0
				Other		947,322		0.9
						1,979,419		1.9
DIVERSIFIED FINANCIALS
				Kreditanstalt fuer Wiederaufbau
	1,000,000			2.000%, 09/29/22		1,004,147		1.0
				Toyota Motor Credit Corp
	1,000,000			2.150%, 02/13/30		927,471		0.9
				Other		751,543		0.7
						2,683,161		2.6
ENERGY						526,890		0.5
FOOD & STAPLES RETAILING
				Walmart, Inc
	1,575,000			1.800%, 09/22/31		1,432,750		1.4
				Other		232,482		0.2
						1,665,232		1.6

Principal			Issuer	Value		% of net assets
FOOD, BEVERAGE & TOBACCO
			PepsiCo, Inc
$	1,000,000		2.875%, 10/15/49	$	926,367		0.9	%
			Other		263,050		0.2
					1,189,417		1.1
HEALTH CARE EQUIPMENT & SERVICES
			Kaiser Foundation Hospitals
	1,000,000		2.810%, 06/01/41		873,202		0.8
			Other		221,055		0.2
					1,094,257		1.0
MATERIALS
			Sonoco Products Co
	1,000,000		2.250%, 02/01/27		946,827		0.9
	1,000,000		2.850%, 02/01/32		934,636		0.9
			Other		1,297,032		1.2
					3,178,495		3.0
REAL ESTATE
			Federal Realty Investment Trust
	1,300,000		1.250%, 02/15/26		1,196,319		1.1
			Host Hotels & Resorts LP
	1,000,000		2.900%, 12/15/31		893,854		0.9
			Kilroy Realty LP
	1,000,000		2.650%, 11/15/33		866,410		0.8
			Other		2,654,338		2.6
					5,610,921		5.4
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT
			SK Hynix, Inc
	1,275,000	g	2.375%, 01/19/31		1,111,347		1.1
			Other		242,314		0.2
					1,353,661		1.3
SOFTWARE & SERVICES					277,541		0.3
TECHNOLOGY HARDWARE & EQUIPMENT
			Apple, Inc
	1,000,000		2.850%, 02/23/23		1,008,321		1.0
	948,000		3.000%, 06/20/27		958,918		0.9
			Other		223,675		0.2
					2,190,914		2.1
TELECOMMUNICATION SERVICES
			Verizon Communications, Inc
	1,000,000		3.875%, 03/01/52		1,004,789		1.0
					1,004,789		1.0
UTILITIES
			AES Corp
	1,250,000		1.375%, 01/15/26		1,149,465		1.1
			Avangrid, Inc
	1,777,000		3.200%, 04/15/25		1,771,504		1.7
			Dominion Energy, Inc
	1,000,000		2.250%, 08/15/31		900,749		0.9
			DTE Electric Co
	1,000,000		1.900%, 04/01/28		930,197		0.9
			Duke Energy Florida LLC
	1,000,000		2.500%, 12/01/29		940,508		0.9

See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2022 Annual Report 47

Summary portfolio of investments	continued
Green Bond Fund  ■  March 31, 2022

Principal				Issuer	Value		% of net assets
UTILITIES—continued
				Duke Energy Progress LLC
$	1,000,000			3.450%, 03/15/29	$	1,001,969		1.0	%
				Georgia Power Co
	747,000			3.250%, 04/01/26		749,474		0.7
				Interstate Power & Light Co
	1,650,000			3.600%, 04/01/29		1,648,402		1.6
				New York State Electric & Gas Corp
	1,075,000	g		2.150%, 10/01/31		953,851		0.9
				Niagara Mohawk Power Corp
	950,000	g		1.960%, 06/27/30		844,246		0.8
				PacifiCorp
	1,000,000			2.900%, 06/15/52		873,707		0.8
				Public Service Electric and Gas Co
	1,000,000			3.100%, 03/15/32		987,912		1.0
				San Diego Gas & Electric Co
	750,000			2.950%, 08/15/51		658,820		0.6
				SCE Recovery Funding LLC
	1,000,000			2.943%, 11/15/42		959,300		0.9
	960,000			3.240%, 11/15/46		896,458		0.9
				Union Electric Co
	1,075,000	h		3.900%, 04/01/52		1,112,138		1.1
				Vistra Corp
	1,050,000	g		7.000%, N/A‡		1,022,143		1.0
				Other		8,981,913		8.5
						26,382,756		25.3
			TOTAL CORPORATE BONDS  (Cost $59,810,816)			57,715,151		55.3
GOVERNMENT BONDS
AGENCY SECURITIES
				Overseas Private Investment Corp (OPIC)
	1,639,887			3.430%, 06/01/33		1,678,683		1.6
	1,125,276			2.940%, 07/31/33		1,121,717		1.1
				Other		1,099,956		1.0
						3,900,356		3.7
FOREIGN GOVERNMENT BONDS
				Asian Development Bank
	750,000			3.125%, 09/26/28		777,602		0.8
				European Investment Bank
	2,000,000			0.750%, 09/23/30		1,746,825		1.7
				Other		4,445,469		4.3
						6,969,896		6.8
MORTGAGE BACKED						442,883		0.4
MUNICIPAL BONDS						6,099,215		5.8
			TOTAL GOVERNMENT BONDS  (Cost $18,074,564)			17,412,350		16.7

Principal				Issuer	Value		% of net assets
STRUCTURED ASSETS
ASSET BACKED
				GoodLeap Sustainable Home Solutions Trust
$	1,173,983	g		1.930%–2.700%, 05/20/48–01/20/49	$	1,078,080		1.1	%
				Mosaic Solar Loan Trust
				Series–2021 1A (Class B)
	920,242	g		2.050%, 12/20/46		848,322		0.8
				Series–2021 3A (Class C)
	1,000,000	g		1.770%, 06/20/52		924,206		0.9
	1,911,285	†,g		0.000%–2.250%, 04/20/46–06/20/52		1,767,803		1.7
				Sunnova Helios VIII Issuer LLC
				Series–2022 A (Class A)
	1,191,289	g		2.790%, 02/22/49		1,140,071		1.1
				Tesla Auto Lease Trust
	1,431,336	g		0.560%–2.330%, 10/20/22–09/22/25		1,409,690		1.3
				Other		4,198,835		4.0
						11,367,007		10.9
OTHER MORTGAGE BACKED
				GS Mortgage Securities Corp II
				Series–2018 GS10 (Class WLSA)
	1,102,000	g,i		4.577%, 03/10/33w		1,113,008		1.1
				J.P. Morgan Chase Commercial Mortgage Securities Trust
				Series–2020 609M (Class A)
	1,255,000	g,i		1.767%, 10/15/33, LIBOR 1 M + 1.370%		1,232,909		1.2
				J.P. Morgan Chase Commercial Mortgage Securities Trust
				Series–2020 609M (Class B)
	1,000,000	g,i		2.167%, 10/15/33, LIBOR 1 M + 1.770%		972,348		0.9
				Manhattan West Mortgage Trust
				Series–2020 1MW (Class A)
	1,000,000	g		2.130%, 09/10/39		924,286		0.9
				Other		5,507,183		5.2
						9,749,734		9.3
			TOTAL STRUCTURED ASSETS (Cost $21,761,561)			21,116,741		20.2
			TOTAL BONDS (Cost $99,646,941)			96,244,242		92.2
	Shares			Company
PREFERRED STOCKS
REAL ESTATE						416,400		0.4
UTILITIES						773,960		0.7
			TOTAL PREFERRED STOCKS (Cost $1,400,000)			1,190,360		1.1

48 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements

Summary portfolio of investments	concluded
Green Bond Fund  ■  March 31, 2022

Principal				Issuer	Value			% of net assets
SHORT-TERM INVESTMENTS
REPURCHASE AGREEMENT
				Fixed Income Clearing Corp (FICC)
$	9,530,000	r		0.250%, 04/01/22	$	9,530,000			9.1	%
						9,530,000			9.1
	Shares			Company
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES
	259,024	c		State Street Navigator Securities Lending Government Money Market Portfolio 0.290%		259,024			0.3
			TOTAL SHORT-TERM INVESTMENTS  (Cost $9,789,024)			9,789,024			9.4
			TOTAL PORTFOLIO  (Cost $111,813,959)			108,193,515			103.6
			OTHER ASSETS & LIABILITIES, NET			(3,750,006	)		(3.6	)
			NET ASSETS		$	104,443,509			100.0	%

LIBOR	London Interbank Offered Rate
M	Month

†	Security is categorized as Level 3 in the fair value hierarchy.
‡	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 3/31/22, the aggregate value of these securities, including those in “Other,” is $39,628,691 or 37.9% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.
i	Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.
r	Agreement with Fixed Income Clearing Corp (FICC), 0.250% dated 3/31/22 to be repurchased at $9,530,000 on 4/1/22, collateralized by Government Agency Securities, with coupon rate 2.375% and maturity date 3/31/29, valued at $9,720,638.

“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 3/31/22, the aggregate value of securities on loan is $255,487. See Note 4 in the Notes to financial statements for additional information about securities lending collateral.

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  ■  2022 Annual Report 49

Summary portfolio of investments

High-Yield Fund  ■  March 31, 2022

Principal				Issuer	Value		% of net assets
BANK LOAN OBLIGATIONS
AUTOMOBILES & COMPONENTS					$	34,830		0.0	%
CAPITAL GOODS						12,392		0.0
COMMERCIAL & PROFESSIONAL SERVICES
				Spin Holdco, Inc
$	19,477,813	i		4.750%, 03/04/28, LIBOR 3M + 4.000%		19,304,655		0.6
				Other		23,781,072		0.8
						43,085,727		1.4
CONSUMER SERVICES						9,358,622		0.3
DIVERSIFIED FINANCIALS						13,900,630		0.4
ENERGY						3,976,004		0.1
FOOD, BEVERAGE & TOBACCO						17,138,854		0.6
HEALTH CARE EQUIPMENT & SERVICES
				Surgery Center Holdings, Inc
	20,996,334	i		4.500%, 09/03/26, LIBOR 1M + 3.750%		20,810,097		0.7
				Verscend Holding Corp
	15,647,492	i		4.457%, 08/27/25, LIBOR 1M + 4.000%		15,569,254		0.5
						36,379,351		1.2
HOUSEHOLD & PERSONAL PRODUCTS						6,899,087		0.2
MATERIALS						9,176,483		0.3
MEDIA & ENTERTAINMENT						11,442,521		0.4
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES
				Jazz Financing Lux Sarl
	14,857,600	i		4.000%, 05/05/28, LIBOR 1M + 3.500%		14,788,958		0.5
				Other		4,520,000		0.1
						19,308,958		0.6
RETAILING						18,295,884		0.6
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT						7,152,396		0.2
SOFTWARE & SERVICES
				Finastra USA, Inc
	19,822,047	i		4.500%, 06/13/24, LIBOR 3M + 3.500%		19,547,313		0.6
				Rocket Software, Inc
	14,917,350	i		4.750%, 11/28/25, LIBOR 1M + 4.250%		14,693,589		0.5
				Other		9,889,806		0.3
						44,130,708		1.4
TRANSPORTATION						12,651,780		0.4
			TOTAL BANK LOAN OBLIGATIONS (Cost $258,466,797)			252,944,227		8.1
BONDS
CORPORATE BONDS
AUTOMOBILES & COMPONENTS
				Gates Global LLC
	22,075,000	g		6.250%, 01/15/26		22,095,640		0.7
				Goodyear Tire & Rubber Co
	31,355,000			5.000%–5.625%, 07/15/29–04/30/33		29,190,694		1.0
				IHO Verwaltungs GmbH
	19,800,000	g,o		6.375%, 05/15/29		19,503,000		0.6
				Other		37,431,523		1.1
						108,220,857		3.4

Principal			Issuer	Value		% of net assets
CAPITAL GOODS				$	42,735,483		1.4	%
COMMERCIAL & PROFESSIONAL SERVICES
			Albion Financing 2SARL
$	27,345,000	g	8.750%, 04/15/27		26,325,031		0.8
			Allied Universal Holdco LLC
	26,000,000	g	4.625%, 06/01/28		24,567,400		0.8
			Garda World Security Corp
	21,600,000	g	4.625%, 02/15/27		20,702,520		0.7
			Prime Security Services Borrower LLC
	20,075,000	g	5.750%, 04/15/26		20,480,013		0.6
	23,100,000	g	6.250%, 01/15/28		22,605,545		0.7
			WASH Multifamily Acquisition, Inc
	19,618,000	g	5.750%, 04/15/26		19,667,045		0.6
			Other		93,536,201		3.1
					227,883,755		7.3
CONSUMER DURABLES & APPAREL					7,881,000		0.3
CONSUMER SERVICES
			CDI Escrow Issuer, Inc
	20,995,000	g,h	5.750%, 04/01/30		21,204,950		0.7
			Life Time, Inc
	16,300,000	g	5.750%, 01/15/26		16,283,537		0.5
			Other		73,023,506		2.3
					110,511,993		3.5
DIVERSIFIED FINANCIALS
			Ford Motor Credit Co LLC
	23,335,000		2.300%, 02/10/25		22,149,990		0.7
	33,035,000		3.375%–5.113%, 11/13/25–05/03/29		33,087,738		1.0
			Navient Corp
	32,330,000		4.875%–6.750%, 03/25/24–03/15/29		31,246,763		1.1
			Other		100,815,564		3.2
					187,300,055		6.0
ENERGY
			Ferrellgas Escrow LLC
	20,285,000	g	5.375%, 04/01/26		19,154,314		0.6
	22,178,000	g	5.875%, 04/01/29		20,469,629		0.7
			Laredo Petroleum, Inc
	15,000,000		9.500%, 01/15/25		15,639,825		0.5
			New Fortress Energy, Inc
	19,075,000	g	6.500%, 09/30/26		18,898,938		0.6
			Occidental Petroleum Corp
	17,875,000		6.375%, 09/01/28		20,131,719		0.6
	11,800,000		8.875%, 07/15/30		15,133,500		0.5
	33,083,000		3.000%–8.500%, 02/15/27–08/15/49		36,467,940		1.2
			USA Compression Partners LP
	18,000,000		6.875%, 04/01/26		18,162,000		0.5
			Other		331,455,244		10.6
					495,513,109		15.8
FOOD & STAPLES RETAILING
			Yum! Brands, Inc
	14,665,000	h	5.375%, 04/01/32		14,698,143		0.5
			Other		9,718,481		0.3
					24,416,624		0.8

50 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements

Summary portfolio of investments	continued
High-Yield Fund  ■  March 31, 2022

Principal			Issuer	Value		% of net assets
FOOD, BEVERAGE & TOBACCO
			Primo Water Holdings, Inc
$	19,950,000	g	4.375%, 04/30/29	$	18,056,745		0.6	%
			Other		30,078,440		0.9
					48,135,185		1.5
HEALTH CARE EQUIPMENT & SERVICES
			CHS/Community Health Systems, Inc
	39,240,000		5.250%–8.000%, 03/15/26–05/15/30		38,425,604		1.2
			Global Medical Response, Inc
	15,000,000	g	6.500%, 10/01/25		14,887,500		0.5
			Tenet Healthcare Corp
	33,000,000	g	4.375%, 01/15/30		31,677,690		1.0
			Other		98,021,222		3.1
					183,012,016		5.8
HOUSEHOLD & PERSONAL PRODUCTS
			Coty, Inc
	16,700,000	g	5.000%, 04/15/26		16,261,625		0.5
			Other		24,647,930		0.8
					40,909,555		1.3
INSURANCE
			Acrisure LLC
	18,513,000	g	4.250%, 02/15/29		16,817,579		0.5
			Other		28,596,903		0.9
					45,414,482		1.4
MATERIALS
			Olympus Water US Holding Corp
	16,990,000	g	4.250%, 10/01/28		15,430,063		0.5
			SunCoke Energy, Inc
	15,690,000	g	4.875%, 06/30/29		14,792,061		0.5
			Other		191,082,760		6.1
					221,304,884		7.1
MEDIA & ENTERTAINMENT
			CCO Holdings LLC
	19,025,000	g	4.250%, 02/01/31		17,265,187		0.5
	33,050,000		4.500%–5.375%, 02/01/28–05/01/32		31,320,343		1.1
			CSC Holdings LLC
	36,975,000		3.375%–5.750%, 04/15/27–02/15/31		33,600,287		1.0
			DIRECTV Holdings LLC
	15,900,000	g	5.875%, 08/15/27		15,641,625		0.5
			Univision Communications, Inc
	17,575,000	g	4.500%, 05/01/29		16,729,379		0.5
			VZ Secured Financing BV
	30,400,000	g	5.000%, 01/15/32		28,424,000		0.9
			Other		146,019,986		4.7
					289,000,807		9.2
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES
			Organon Finance LLC
	15,725,000	g	4.125%, 04/30/28		14,981,286		0.5
	23,650,000	g	5.125%, 04/30/31		22,822,250		0.7
			Other		110,969,166		3.5
					148,772,702		4.7
REAL ESTATE					100,233,341		3.2

Principal				Issuer	Value		% of net assets
RETAILING
				Magic Mergeco, Inc
$	17,587,000	g		5.250%, 05/01/28	$	16,146,625		0.5	%
				Staples, Inc
	15,000,000	g		7.500%, 04/15/26		14,566,575		0.5
				Other		70,213,469		2.2
						100,926,669		3.2
SOFTWARE & SERVICES						66,399,404		2.1
TECHNOLOGY HARDWARE & EQUIPMENT
				Ahead DB Holdings LLC
	20,700,000	g		6.625%, 05/01/28		18,493,794		0.6
				Imola Merger Corp
	53,520,000	g		4.750%, 05/15/29		51,537,619		1.6
				Other		9,295,211		0.3
						79,326,624		2.5
TELECOMMUNICATION SERVICES
				Altice France S.A.
	23,000,000	g		5.125%, 07/15/29		20,613,750		0.7
				Avaya, Inc
	15,775,000	g		6.125%, 09/15/28		15,556,832		0.5
				Other		44,942,190		1.4
						81,112,772		2.6
TRANSPORTATION						35,241,954		1.1
UTILITIES						39,208,786		1.3
			TOTAL CORPORATE BONDS (Cost $2,790,436,028)			2,683,462,057		85.5
			TOTAL BONDS (Cost $2,790,436,028)			2,683,462,057		85.5
	Shares			Company
COMMON STOCKS
ENERGY						79		0.0
			TOTAL COMMON STOCKS (Cost $0)			79		0.0
RIGHTS / WARRANTS
	ENERGY					2,958,165		0.1
			TOTAL RIGHTS / WARRANTS (Cost $10,582,142)			2,958,165		0.1
	Principal			Issuer
SHORT-TERM INVESTMENTS
GOVERNMENT AGENCY DEBT
				Federal Farm Credit Bank (FFCB)
$	17,379,000			0.000%, 04/29/22		17,376,704		0.5
				Federal Home Loan Bank (FHLB)
	20,000,000			0.000%, 04/01/22		20,000,000		0.7
	15,000,000			0.000%, 05/04/22		14,994,238		0.5
	20,000,000			0.000%, 05/24/22		19,987,663		0.6
	50,000,000			0.000%–0.000%, 04/08/22-05/18/22		49,987,767		1.5
				Other		4,999,111		0.2
						127,345,483		4.0

See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2022 Annual Report 51

Summary portfolio of investments	concluded
High-Yield Fund  ■  March 31, 2022

Principal				Issuer	Value			% of net assets
REPURCHASE AGREEMENT
				Fixed Income Clearing Corp (FICC)
$	48,950,000	r		0.250%, 04/01/22	$	48,950,000			1.6	%
						48,950,000			1.6
TREASURY DEBT						9,999,306			0.3
	Shares			Company
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES
	41,688,554	c		State Street Navigator Securities Lending Government Money Market Portfolio 0.290%		41,688,554			1.3
						41,688,554			1.3
			TOTAL SHORT-TERM INVESTMENTS (Cost $227,991,871)			227,983,343			7.2
			TOTAL PORTFOLIO (Cost $3,287,476,838)			3,167,347,871			100.9
			OTHER ASSETS & LIABILITIES, NET			(29,434,885	)		(0.9	)
			NET ASSETS		$	3,137,912,986			100.0	%

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 3/31/22, the aggregate value of these securities, including those in “Other,” is $2,100,880,738 or 67.0% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.
i	Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.
o	Payment in Kind Bond.
r	Agreement with Fixed Income Clearing Corp (FICC), 0.250% dated 3/31/22 to be repurchased at $48,950,000 on 4/1/22, collateralized by Government Agency Securities, with coupon rate 2.375% and maturity date 3/31/29, valued at $49,929,008.

“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 3/31/22, the aggregate value of securities on loan is $50,045,221. See Note 4 in the Notes to financial statements for additional information about securities lending collateral.

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

52 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements

Portfolio of investments

Inflation-Linked Bond Fund  ■  March 31, 2022

Principal				Issuer		Value	% of net assets
BONDS
CORPORATE BONDS
TRANSPORTATION
				Grupo Aeromexico SAB de C.V.
$	5,000,000	g		8.500%, 03/17/27	$	5,023,250		0.1	%
						5,023,250		0.1
			TOTAL CORPORATE BONDS (Cost $5,000,000)			5,023,250		0.1
GOVERNMENT BONDS
AGENCY SECURITIES
				HNA LLC
	1,498,891			2.369%, 09/18/27		1,472,135		0.0
				Montefiore Medical Center
	8,270,000			2.895%, 04/20/32		7,921,379		0.3
				Reliance Industries Ltd
	2,631,579			2.444%, 01/15/26		2,612,572		0.1
						12,006,086		0.4
MORTGAGE BACKED
				Government National Mortgage Association (GNMA)
	9,814,621			3.600%, 09/15/31		9,932,495		0.3
	5,040,652			3.700%, 10/15/33		5,091,459		0.2
	1,473,991			3.380%, 07/15/35		1,476,995		0.0
	1,403,758			3.870%, 10/15/36		1,427,134		0.0
	5,101,252			3.940%, 03/15/37		5,198,821		0.2
	18,748,516			1.730%, 07/15/37		17,898,528		0.5
	13,336,149			1.650%, 07/15/42		12,631,532		0.4
	13,155,970			2.750%, 01/15/45		13,315,253		0.4
						66,972,217		2.0
U.S. TREASURY SECURITIES
				United States Treasury Inflation Indexed Bonds
	97,515,761	k		0.625%, 04/15/23		101,671,608		3.1
	132,120,504	k		0.375%, 07/15/23		138,680,080		4.3
	137,679,695	k		0.625%, 01/15/24		144,803,006		4.4
	25,653,517	k		0.500%, 04/15/24		26,962,247		0.8
	160,020,173	d,k		0.125%, 07/15/24		167,927,419		5.1
	98,365,864	k		0.125%, 10/15/24		102,892,231		3.2
	131,402,658	k		0.250%, 01/15/25		137,795,705		4.2
	90,131,502	k		2.375%, 01/15/25		100,038,926		3.1
	33,785,409	k		0.125%, 04/15/25		35,313,671		1.1
	136,263,843	k		0.375%, 07/15/25		144,101,675		4.4
	121,687,579	k		0.125%, 10/15/25		127,550,923		3.9
	110,176,474	k		0.625%, 01/15/26		117,456,299		3.6
	56,092,739	k		2.000%, 01/15/26		62,850,161		1.9
	40,506,904	k		0.125%, 04/15/26		42,339,209		1.3
	110,942,140	k		0.125%, 07/15/26		116,606,257		3.6
	143,994,710	k		0.125%, 10/15/26		151,357,565		4.6
	127,331,956	k		0.375%, 01/15/27		134,951,977		4.1
	52,653,187	k		2.375%, 01/15/27		61,078,725		1.9
	102,074,571	k		0.375%, 07/15/27		108,715,398		3.3
	140,479,974	k		0.500%, 01/15/28		150,264,185		4.6
	63,815,790	k		1.750%, 01/15/28		73,056,615		2.2
	43,064,248	k		3.625%, 04/15/28		54,542,721		1.7
	79,211,191	k		0.750%, 07/15/28		86,624,864		2.7
	82,065,871	k		0.875%, 01/15/29		90,604,248		2.8

Principal				Issuer		Value	% of net assets
U.S. TREASURY SECURITIES—continued
$	48,025,408	k		2.500%, 01/15/29	$	58,498,137		1.8	%
	30,664,204	k		3.875%, 04/15/29		40,539,035		1.2
	57,655,525	k		0.250%, 07/15/29		61,545,021		1.9
	64,637,690	k		0.125%, 01/15/30		68,225,587		2.1
	114,577,368	k		0.125%, 07/15/30		121,501,243		3.7
	84,218,940	k		0.125%, 01/15/31		89,125,680		2.7
	126,303,331	k		0.125%, 07/15/31		134,323,098		4.1
	50,225,612	k		3.375%, 04/15/32		70,829,885		2.2
	7,773,048	k		0.125%, 02/15/51		7,948,852		0.3
	13,365,267	k		0.125%, 02/15/52		13,842,970		0.4
	3,909,019	e,k		0.125%, 01/15/32		4,157,073		0.1
						3,148,722,296		96.4
			TOTAL GOVERNMENT BONDS (Cost $3,100,548,860)			3,227,700,599		98.8
			TOTAL BONDS (Cost $3,105,548,860)			3,232,723,849		98.9
SHORT-TERM INVESTMENTS
REPURCHASE AGREEMENT
				Fixed Income Clearing Corp (FICC)
	14,760,000	r		0.250%, 04/01/22		14,760,000		0.5
						14,760,000		0.5
	Shares			Company
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES
	4,212,962	c		State Street Navigator Securities Lending Government Money Market Portfolio 0.290%		4,212,962		0.1
						4,212,962		0.1
			TOTAL SHORT-TERM INVESTMENTS (Cost $18,972,962)			18,972,962		0.6
			TOTAL PORTFOLIO (Cost $3,124,521,822)			3,251,696,811		99.5
			OTHER ASSETS & LIABILITIES, NET			16,060,799		0.5
			NET ASSETS		$	3,267,757,610		100.0	%

c	Investments made with cash collateral received from securities on loan.
d	All or a portion of these securities have been segregated to cover margin requirements on open futures contracts.
e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $4,139,733. 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 3/31/22, the aggregate value of these securities, including those in “Other,” is $5,023,250 or 0.2% of net assets.
k	Principal amount for interest accrual purposes is periodically adjusted based on changes in the Consumer Price Index.
r	Agreement with Fixed Income Clearing Corp (FICC), 0.250% dated 3/31/22 to be repurchased at $14,760,000 on 4/1/22, collateralized by Government Agency Securities, with coupon rate 2.375% and maturity date 3/31/29, valued at $15,055,296.

See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2022 Annual Report 53

Portfolio of investments	concluded
Inflation-Linked Bond Fund  ■  March 31, 2022

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

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

Futures contracts outstanding as of March 31, 2022 were as follows:

Description	Number of long (short contracts	)	Expiration date	Notional amount		Value		Unrealized appreciation (depreciation	)
US Ultra 30 Year Bond (CBT)	(50	)	06/21/22	$(9,184,989	)	$(8,856,250	)	$328,739

54 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements

Summary portfolio of investments

Short Duration Impact Bond Fund  ■  March 31, 2022

Principal				Issuer	Value		% of net assets
BANK LOAN OBLIGATIONS
COMMERCIAL & PROFESSIONAL SERVICES
				LTR Intermediate Holdings, Inc
$	496,256	i		5.500%, 05/05/28, LIBOR 3M + 4.500%	$	486,331		1.3	%
						486,331		1.3
UTILITIES
				Exgen Renewables IV LLC
	488,748	i		3.500%, 12/15/27, LIBOR 3M + 2.500%		483,558		1.2
						483,558		1.2
			TOTAL BANK LOAN OBLIGATIONS (Cost $977,994)			969,889		2.5
BONDS
CORPORATE BONDS
AUTOMOBILES & COMPONENTS						194,824		0.5
BANKS
				Banco Santander S.A.
	326,000	i		1.796%, 04/11/22, LIBOR 3 M + 1.560%		326,065		0.9
				Bank of America Corp
	500,000			0.981%–1.112%, 09/25/25–07/22/27		485,750		1.3
				Citigroup, Inc
	500,000	i		2.217%, 07/01/26, LIBOR 3 M + 1.250%		504,905		1.3
				Truist Bank
	400,000	i		1.059%, 05/17/22, LIBOR 3 M + 0.590%		399,774		1.0
				UBS AG.
	300,000	g,i		0.626%, 08/09/24, SOFR + 0.450%		298,378		0.8
				USAA Capital Corp
	400,000	g		1.500%, 05/01/23		396,274		1.0
				Other		1,184,897		3.1
						3,596,043		9.4
CAPITAL GOODS						249,807		0.7
COMMERCIAL & PROFESSIONAL SERVICES						235,931		0.6
CONSUMER SERVICES
				Nature Conservancy
	550,000			0.467%, 07/01/23		534,688		1.4
	260,000	i		1.397%, 02/01/24, LIBOR 3 M + 1.080%		259,999		0.7
	300,000			2.668%, 03/01/26		294,421		0.7
						1,089,108		2.8
DIVERSIFIED FINANCIALS
				Federation des Caisses Desjardins du Quebec
	395,000			0.450%, 10/07/23		383,229		1.0
				Kreditanstalt fuer Wiederaufbau
	500,000			2.000%, 09/29/22		502,073		1.3
				Morgan Stanley
	500,000			0.791%, 01/22/25		479,984		1.3
				Other		2,346,402		6.1
						3,711,688		9.7
ENERGY
				Sunnova Energy Corp
	270,000	e,g		5.875%, 09/01/26		258,357		0.7
				Other		243,036		0.6
						501,393		1.3

Principal				Issuer		Value	% of net assets
INSURANCE
				Five Corners Funding Trust
$	250,000	g		4.419%, 11/15/23	$	255,510	0.7	%
				Other		244,273	0.6
						499,783	1.3
MATERIALS						239,571	0.6
REAL ESTATE
				Federal Realty Investment Trust
	300,000			1.250%, 02/15/26		276,074	0.7
				Other		237,500	0.6
						513,574	1.3
TECHNOLOGY HARDWARE & EQUIPMENT						252,080	0.7
TELECOMMUNICATION SERVICES						249,736	0.7
TRANSPORTATION						239,699	0.6
UTILITIES
				Avangrid, Inc
	300,000			3.200%, 04/15/25		299,072	0.8
				CenterPoint Energy Resources Corp
	345,000	i		1.004%, 03/02/23, LIBOR 3 M + 0.500%		343,934	0.9
				India Cleantech Energy
	292,050	g		4.700%, 08/10/26		273,460	0.7
				Korea Hydro & Nuclear Power Co Ltd
	300,000	g		3.750%, 07/25/23		304,341	0.8
				National Fuel Gas Co
	300,000			5.500%, 01/15/26		317,642	0.8
				OGE Energy Corp
	300,000			0.703%, 05/26/23		293,905	0.8
				SCE Recovery Funding LLC
	470,000			1.977%, 11/15/28		453,782	1.2
				Other		229,893	0.6
						2,516,029	6.6
			TOTAL CORPORATE BONDS (Cost $14,381,181)			14,089,266	36.8
GOVERNMENT BONDS
AGENCY SECURITIES
				Federal Home Loan Mortgage Corp (FHLMC)
	500,000			0.375%–1.500%, 05/05/23–02/12/25		489,129	1.2
				Federal National Mortgage Association (FNMA)
	500,000			0.250%, 07/10/23		488,529	1.3
				Penta Aircraft Leasing LLC
	570,478			1.691%, 04/29/25		561,743	1.5
				Private Export Funding Corp (PEFCO)
	1,000,000			2.050%, 11/15/22		1,002,778	2.6
				Other		1,017,914	2.7
						3,560,093	9.3

See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2022 Annual Report 55

Summary portfolio of investments continued

Short Duration Impact Bond Fund  ■  March 31, 2022

Principal				Issuer		Value	% of net assets
FOREIGN GOVERNMENT BONDS
				European Stability Mechanism
$	500,000	g		1.375%, 09/11/24	$	486,491		1.3	%
				International Development Association
	500,000	g		2.750%, 04/24/23		503,900		1.3
				Perusahaan Penerbit SBSN Indonesia III
	500,000	g		3.750%, 03/01/23		506,250		1.3
				Other		951,799		2.5
						2,448,440		6.4
MORTGAGE BACKED						102,531		0.3
MUNICIPAL BONDS
				California Municipal Finance Authority
	440,000			1.622%, 08/15/25		419,266		1.1
				City of Detroit MI
	700,000			1.817%, 04/01/22		700,000		1.8
				Morris County Improvement Authority
	650,000			0.468%, 06/15/23		638,904		1.7
				New York State Energy Research & Development Authority
	330,000			1.624%, 10/01/22		328,866		0.9
				Other		1,245,514		3.2
						3,332,550		8.7
U.S. TREASURY SECURITIES
				United States Treasury Note
	860,000			0.125%, 06/30/22		859,026		2.2
	585,000			0.125%, 10/31/22		581,389		1.5
	1,500,000			2.625%, 12/31/23		1,509,551		4.0
	390,000	e		1.500%, 02/29/24		384,318		1.0
				Other		239,813		0.6
						3,574,097		9.3
			TOTAL GOVERNMENT BONDS (Cost $13,197,264)			13,017,711		34.0
STRUCTURED ASSETS
ASSET BACKED
				Delta Air Lines Pass Through Trust
	486,915			2.000%–2.500%, 06/10/28		448,097		1.1
				GoodLeap Sustainable Home Solutions Trust
				Series–2021 4GS (Class A)
	319,805	g		1.930%, 07/20/48		289,519		0.8
				HERO Funding Trust
	501,738	g		2.720%–4.050%, 09/20/41–09/20/57		496,091		1.4
				Mosaic Solar Loan Trust
				Series–2020 2A (Class A)
	334,048	g		1.440%, 08/20/46		304,336		0.8
				Series–2021 3A (Class A)
	392,379	g		1.440%, 06/20/52		357,819		0.9
				STWD Mortgage Trust
				Series–2021 LIH (Class C)
	270,000	g,i		2.352%, 11/15/36, LIBOR 1 M + 1.955%		264,251		0.7
				Sunnova Helios VIII Issuer LLC
				Series–2022 A (Class A)
	287,895	g		2.790%, 02/22/49		275,517		0.7
				Sunrun Atlas Issuer LLC
				Series–2019 2 (Class A)
	470,195	g		3.610%, 02/01/55		460,821		1.2

Principal				Issuer	Value			% of net assets
ASSET BACKED—continued
				Sunrun Callisto Issuer LLC
				Series–2019 1A (Class A)
$	393,296	g		3.980%, 06/30/54	$	386,935			1.0	%
				Series–2021 2A (Class A)
	317,649	g		2.270%, 01/30/57		289,164			0.8
				Tesla Auto Lease Trust
				Series–2021 B (Class A3)
	600,000	g		0.600%, 09/22/25		579,287			1.5
	750,000	g		0.560%–2.330%, 11/21/22–03/20/25		741,236			2.0
				Toyota Auto Receivables Owner Trust
				Series–2021 B (Class A2)
	654,803			0.140%, 01/16/24		652,169			1.7
				Vivint Colar Financing V LLC
				Series–2018 1A (Class B)
	550,067	g		7.370%, 04/30/48		551,936			1.4
				Other		850,499			2.2
						6,947,677			18.2
OTHER MORTGAGE BACKED
				Natixis Commercial Mortgage Securities Trust
				1.897%–4.647%, 07/15/36–07/15/36,
	750,000	g,i		LIBOR 1 M + 1.500%-LIBOR 1 M + 4.250%		738,074			2.0
				Other		1,507,352			3.9
						2,245,426			5.9
			TOTAL STRUCTURED ASSETS (Cost $9,556,735)			9,193,103			24.1
			TOTAL BONDS (Cost $37,135,180)			36,300,080			94.9
SHORT-TERM INVESTMENTS
REPURCHASE AGREEMENT
				Fixed Income Clearing Corp (FICC)
	1,300,000	r		0.250%, 04/01/22		1,300,000			3.4
						1,300,000			3.4
Shares				Company
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES
	647,468	c		State Street Navigator Securities Lending Government Money Market Portfolio 0.290%		647,468			1.7
						647,468			1.7
			TOTAL SHORT-TERM INVESTMENTS (Cost $1,947,468)			1,947,468			5.1
			TOTAL PORTFOLIO (Cost $40,060,642)			39,217,437			102.5
			OTHER ASSETS & LIABILITIES, NET			(959,528	)		(2.5	)
			NET ASSETS		$	38,257,909			100.0	%

56 2022 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, 2022

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

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 $635,863. 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 3/31/22, the aggregate value of these securities, including those in “Other,” is $14,528,848 or 38.0% of net assets.
i	Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.
r	Agreement with Fixed Income Clearing Corp (FICC), 0.250% dated 3/31/22 to be repurchased at $1,300,000 on 4/1/22, collateralized by Government Agency Securities, with coupon rate 0.125% and maturity date 1/15/32, valued at $1,326,107.

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

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

See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2022 Annual Report 57

Summary portfolio of investments

Short-Term Bond Fund  ■  March 31, 2022

Principal				Issuer	Value		% of net assets
BANK LOAN OBLIGATIONS
CAPITAL GOODS					$	673,034		0.0	%
COMMERCIAL & PROFESSIONAL SERVICES						1,310,237		0.1
CONSUMER SERVICES						6,075,839		0.3
HEALTH CARE EQUIPMENT & SERVICES						2,452,807		0.1
HOUSEHOLD & PERSONAL PRODUCTS						3,411,118		0.2
MATERIALS						4,970,313		0.3
MEDIA & ENTERTAINMENT						6,816,122		0.3
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						7,185,420		0.4
SOFTWARE & SERVICES						5,895,844		0.3
TRANSPORTATION						1,763,691		0.1
UTILITIES						552,970		0.0
			TOTAL BANK LOAN OBLIGATIONS (Cost $41,535,233)			41,107,395		2.1
BONDS
CORPORATE BONDS
AUTOMOBILES & COMPONENTS						5,770,236		0.3
BANKS
				Bank of America Corp
$	24,300,000			3.004%, 12/20/23		24,361,354		1.2
				Citigroup, Inc
	23,600,000			0.981%, 05/01/25		22,497,343		1.1
				JPMorgan Chase & Co
	10,000,000			2.776%, 04/25/23		10,002,328		0.5
	20,000,000			0.824%, 06/01/25		19,071,423		1.0
				Other		128,498,445		6.4
						204,430,893		10.2
CAPITAL GOODS						15,980,697		0.8
COMMERCIAL & PROFESSIONAL SERVICES						2,021,780		0.1
CONSUMER DURABLES & APPAREL						1,494,563		0.1
CONSUMER SERVICES						1,437,371		0.1
DIVERSIFIED FINANCIALS
				AerCap Ireland Capital DAC
	15,000,000			1.650%, 10/29/24		14,166,137		0.7
				Federation des Caisses Desjardins du Quebec
	10,000,000	g		0.700%, 05/21/24		9,530,164		0.5
				General Motors Financial Co, Inc
	20,080,000			1.200%–3.950%, 06/30/22–10/15/24		19,914,766		1.0
				Morgan Stanley
	28,055,000			0.529%–3.125%, 01/23/23–07/20/27		27,222,398		1.4
				Other		74,111,709		3.7
						144,945,174		7.3
ENERGY						42,582,770		2.1
FOOD & STAPLES RETAILING						5,022,050		0.2

Principal				Issuer	Value		% of net assets
FOOD, BEVERAGE & TOBACCO					$	6,240,678		0.3	%
HEALTH CARE EQUIPMENT & SERVICES						10,957,414		0.5
INSURANCE						12,872,794		0.6
MATERIALS						23,035,768		1.2
MEDIA & ENTERTAINMENT						23,726,334		1.2
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES
				AbbVie, Inc
$	18,000,000			2.300%, 11/21/22		18,060,683		0.9
				Other		19,452,001		1.0
						37,512,684		1.9
REAL ESTATE
				SBA Tower Trust
	13,365,000	g		1.884%, 01/15/26		12,609,339		0.6
				Other		20,477,931		1.0
						33,087,270		1.6
RETAILING						9,946,249		0.5
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT						7,569,689		0.4
SOFTWARE & SERVICES						19,505,328		1.0
TECHNOLOGY HARDWARE & EQUIPMENT						1,853,130		0.1
TELECOMMUNICATION SERVICES						16,636,207		0.8
TRANSPORTATION						9,972,515		0.5
UTILITIES						37,157,930		1.9
			TOTAL CORPORATE BONDS (Cost $691,011,943)			673,759,524		33.7
GOVERNMENT BONDS
AGENCY SECURITIES						21,869,070		1.1
FOREIGN GOVERNMENT BONDS
				CDP Financial, Inc
	10,000,000	g		0.875%, 06/10/25		9,448,700		0.5
				International Development Association
	8,900,000	g		2.750%, 04/24/23		8,969,420		0.4
				Kommunalbanken AS.
	10,000,000	g		0.375%, 09/11/25		9,245,773		0.5
				Kreditanstalt fuer Wiederaufbau
	12,000,000	i		1.176%, 02/12/24, SOFR + 1.000%		12,190,652		0.6
				Mexico Government International Bond
	10,000,000			2.659%, 05/24/31		9,102,000		0.5
				Ontario Teachers’ Finance Trust
	15,000,000	g		1.625%, 09/12/24		14,658,600		0.7
				Province of British Columbia Canada
	10,400,000	e		1.300%, 01/29/31		9,290,584		0.5
				Other		136,825,333		6.8
						209,731,062		10.5

58 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements

Summary portfolio of investments continued

Short-Term Bond Fund  ■  March 31, 2022

Principal				Issuer		Value	% of net assets
MORTGAGE BACKED
				Freddie Mac STACR REMIC Trust
$	15,000,000	g,i		1.099%, 01/25/42	$	14,735,426	0.7	%
				Government National Mortgage Association (GNMA)
	18,748,516			1.730%, 07/15/37		17,898,528	0.9
	21,490,148			4.250%, 09/15/38		22,079,367	1.1
				Other		15,087,933	0.8
						69,801,254	3.5
MUNICIPAL BONDS
				City of New York NY
	19,755,000			2.280%, 08/01/25		19,413,552	1.0
				Massachusetts Water Resources Authority
	10,000,000			2.083%, 08/01/25		9,780,635	0.5
				Other		10,706,479	0.5
						39,900,666	2.0
U.S. TREASURY SECURITIES
				United States Treasury Inflation Indexed Bonds
	12,177,000	k		0.125%, 01/15/23		12,601,768	0.6
	29,211,793	k		0.625%, 01/15/24		30,723,160	1.5
	39,008,400	k		0.500%, 04/15/24		40,998,438	2.0
	16,432,800	k		0.125%, 10/15/24		17,188,965	0.9
	14,161,400	k		2.000%, 01/15/26		15,867,406	0.8
	28,937,790	k		0.125%, 04/15/26		30,246,773	1.5
				United States Treasury Note
	21,290,000			0.125%, 06/30/22		21,265,883	1.1
	27,700,000			0.125%, 10/31/22		27,529,039	1.4
	25,995,000			0.125%, 03/31/23		25,589,844	1.3
	42,525,000			0.125%, 08/31/23		41,372,174	2.1
	9,705,000			0.250%, 09/30/23		9,435,459	0.5
	14,630,000	e		1.500%, 02/29/24		14,416,836	0.7
	21,014,000			1.750%, 03/15/25		20,569,094	1.0
	17,275,000			1.875%, 02/15/32		16,589,398	0.8
				Other		21,740,300	1.1
						346,134,537	17.3
			TOTAL GOVERNMENT BONDS (Cost $702,609,837)			687,436,589	34.4
STRUCTURED ASSETS
ASSET BACKED
				CF Hippolyta LLC
				Series–2020 1 (Class A1)
	9,803,362	g		1.690%, 07/15/60		9,263,684	0.5
				Domino’s Pizza Master Issuer LLC
				Series–2021 1A (Class A2I)
	10,917,500	g		2.662%, 04/25/51		10,121,800	0.5
				Taco Bell Funding LLC
				Series–2021 1A (Class A2I)
	12,807,900	g		1.946%, 08/25/51		11,583,401	0.6
				Verizon Master Trust
				Series–2021 1 (Class C)
	10,185,000			0.890%, 05/20/27		9,706,928	0.5

Principal				Issuer	Value		% of net assets
ASSET BACKED—continued
				Verizon Owner Trust
				Series–2019 A (Class B)
$	9,000,000			3.020%, 09/20/23	$	9,039,381		0.5	%
				Series–2020 B (Class B)
	17,500,000			0.680%, 02/20/25		16,919,338		0.9
				Other		155,916,874		7.7
						222,551,406		11.2
OTHER MORTGAGE BACKED
				COMM Mortgage Trust
	29,806,264	g		3.376% - 4.901%, 01/10/39 - 10/10/48		29,407,601		1.5
				Connecticut Avenue Securities Trust
				Series - 2021 R01 (Class 1M2)
	10,000,000	g,i		1.649%, 10/25/41		9,660,770		0.5
				Series - 2021 R03 (Class 1M1)
	13,098,212	g,i		0.949%, 12/25/41		12,932,766		0.6
				Freddie Mac STACR REMIC Trust
				Series–2021 DNA5 (Class M2)
	10,000,000	g,i		1.749%, 01/25/34		9,837,688		0.5
				Freddie Mac Structured Agency Credit Risk Debt Notes
				Series–2022 DNA2 (Class M1A)
	8,966,612	g,i		1.349%, 02/25/42		8,912,526		0.4
				GS Mortgage Securities Trust
				Series–2019 GC40 (Class DBB)
	9,000,000	g,i		3.501%, 07/10/52		8,797,374		0.4
				Natixis Commercial Mortgage Securities Trust
				Series–2019 MILE (Class A)
	9,500,000	g,i		1.897%, 07/15/36, LIBOR 1 M + 1.500%		9,451,498		0.5
				Other		221,206,571		11.1
						310,206,794		15.5
			TOTAL STRUCTURED ASSETS (Cost $551,504,154)			532,758,200		26.7
			TOTAL BONDS (Cost $1,945,125,934)			1,893,954,313		94.8
SHORT-TERM INVESTMENTS
GOVERNMENT AGENCY DEBT
				Federal Home Loan Bank (FHLB)
	10,000,000			0.000%, 04/01/22		10,000,000		0.5
	10,000,000			0.000%, 04/08/22		9,999,670		0.5
						19,999,670		1.0
REPURCHASE AGREEMENT
				Fixed Income Clearing Corp (FICC)
	36,180,000	r		0.250%, 04/01/22		36,180,000		1.8
						36,180,000		1.8
TREASURY DEBT						1,798,423		0.1

See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2022 Annual Report 59

Summary portfolio of investments concluded

Short-Term Bond Fund  ■  March 31, 2022

Shares				Company	Value			% of net assets
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES
$	18,922,258	c		State Street Navigator Securities Lending Government Money Market Portfolio 0.290%	$	18,922,258			1.0	%
						18,922,258			1.0
			TOTAL SHORT-TERM INVESTMENTS (Cost $76,901,684)			76,900,351			3.9
			TOTAL PORTFOLIO (Cost $2,063,562,851)			2,011,962,059			100.8
			OTHER ASSETS & LIABILITIES, NET			(15,244,142	)		(0.8	)
			NET ASSETS		$	1,996,717,917			100.0	%

LIBOR	London Interbank Offered Rate
M	Month
REMIC	Real Estate Mortgage Investment Conduit
SOFR	Secure Overnight Financing Rate
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 $23,903,262. 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 3/31/22, the aggregate value of these securities, including those in “Other,” is $731,995,700 or 36.7% 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.
k	Principal amount for interest accrual purposes is periodically adjusted based on changes in the Consumer Price Index.
r	Agreement with Fixed Income Clearing Corporation, 0.250% dated 3/31/22 to be repurchased at $36,180,000 on 4/1/22, collateralized by Government Agency Securities, with coupon rate 2.375% and maturity date 3/31/29, valued at $36,903,690.

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

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

Futures contracts outstanding as of March 31, 2022 were as follows:

Description	Number of long (short contracts		)	Expiration date	Notional amount			Value			Unrealized appreciation (depreciation)
US Long Bond (CBT)		(38	)	06/21/22	$	(5,865,580	)	$	(5,702,375	)	$	163,205
US 10 Year Note (CBT)		(542	)	06/21/22		(68,407,136	)		(66,598,250	)		1,808,886
US 10 Year Ultra (CBT)		(170	)	06/21/22		(23,734,264	)		(23,029,688	)		704,576
US 5 Year Note (CBT)		(245	)	06/30/22		(28,772,081	)		(28,098,437	)		673,644
Total		(995	)		$	(126,779,061	)	$	(123,428,750	)	$	3,350,311

60 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements

Summary portfolio of investments

Short-Term Bond Index Fund  ■  March 31, 2022

Principal				Issuer	Value		% of net assets
BONDS
CORPORATE BONDS
AUTOMOBILES & COMPONENTS					$	2,277,041		0.2	%
BANKS
				Bank of America Corp
$	2,500,000	i		1.530%, 12/06/25		2,390,747		0.2
				Other		82,552,758		6.0
						84,943,505		6.2
CAPITAL GOODS						18,971,390		1.4
COMMERCIAL & PROFESSIONAL SERVICES						1,263,978		0.1
CONSUMER DURABLES & APPAREL						749,924		0.0
CONSUMER SERVICES						2,831,630		0.2
DIVERSIFIED FINANCIALS
				Kreditanstalt fuer Wiederaufbau
	3,000,000			1.250%, 01/31/25		2,894,430		0.2
				Morgan Stanley
	2,250,000	i		1.164%, 10/21/25		2,137,363		0.2
				Other		63,994,278		4.7
						69,026,071		5.1
ENERGY						21,312,384		1.6
FOOD & STAPLES RETAILING						1,540,679		0.1
FOOD, BEVERAGE & TOBACCO						9,589,657		0.7
HEALTH CARE EQUIPMENT & SERVICES						9,661,027		0.7
INSURANCE						4,807,750		0.3
MATERIALS						6,463,946		0.5
MEDIA & ENTERTAINMENT						10,338,581		0.8
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						13,029,229		1.0
REAL ESTATE						4,546,224		0.3
RETAILING						7,078,133		0.5
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT						3,462,236		0.2
SOFTWARE & SERVICES						12,387,695		0.9
TECHNOLOGY HARDWARE & EQUIPMENT						4,923,640		0.4
TELECOMMUNICATION SERVICES						3,719,124		0.3
TRANSPORTATION						3,836,255		0.3
UTILITIES						19,314,482		1.4
			TOTAL CORPORATE BONDS (Cost $325,372,648)			316,074,581		23.2
GOVERNMENT BONDS
AGENCY SECURITIES
				Federal Farm Credit Bank (FFCB)
	4,000,000			0.125%, 02/03/23		3,951,316		0.3
				Federal Home Loan Bank (FHLB)
	4,000,000			2.125%, 02/28/24		3,985,897		0.3
				Federal Home Loan Mortgage Corp (FHLMC)
	2,500,000			0.375%, 04/20/23		2,463,888		0.2
				Federal National Mortgage Association (FNMA)
	4,500,000			0.250%, 05/22/23		4,413,835		0.3
				Other		29,397,987		2.1
						44,212,923		3.2

Principal				Issuer	Value		% of net assets
FOREIGN GOVERNMENT BONDS
				Asian Development Bank
$	2,220,000			0.625%, 10/08/24	$	2,118,749		0.2	%
				European Investment Bank
	3,707,000			1.375%, 05/15/23		3,682,015		0.3
				Other		69,026,026		5.0
						74,826,790		5.5
MUNICIPAL BONDS						1,277,366		0.1
U.S. TREASURY SECURITIES
				United States Treasury Note
	6,500,000			0.250%, 04/15/23		6,400,215		0.5
	13,500,000			0.125%, 04/30/23		13,261,641		1.0
	21,500,000			0.125%, 05/15/23		21,090,996		1.5
	20,500,000			0.125%, 05/31/23		20,081,191		1.5
	18,000,000			0.250%, 06/15/23		17,648,437		1.3
	29,000,000			0.125%, 06/30/23		28,346,367		2.1
	17,600,000			0.125%, 07/15/23		17,178,563		1.3
	13,800,000			0.125%, 07/31/23		13,452,305		1.0
	16,500,000			0.125%, 08/15/23		16,066,230		1.2
	4,250,000			0.125%, 08/31/23		4,134,785		0.3
	6,750,000			0.125%, 09/15/23		6,558,311		0.5
	10,500,000			0.250%, 09/30/23		10,208,379		0.7
	33,750,000			0.125%, 10/15/23		32,709,815		2.4
	6,750,000			0.375%, 10/31/23		6,560,684		0.5
	46,250,000			0.250%, 11/15/23		44,815,528		3.3
	21,000,000			0.500%, 11/30/23		20,411,836		1.5
	33,250,000			0.125%, 12/15/23		32,075,859		2.3
	17,200,000			0.750%, 12/31/23		16,753,875		1.2
	16,600,000			0.125%, 01/15/24		15,972,961		1.2
	14,000,000			0.875%, 01/31/24		13,643,437		1.0
	48,243,000			0.125%, 02/15/24		46,326,472		3.4
	27,750,000	e		1.500%, 02/29/24		27,345,674		2.0
	42,000,000			0.250%, 03/15/24		40,346,250		3.0
	18,000,000			2.250%, 03/31/24		17,988,047		1.3
	34,000,000			0.375%, 04/15/24		32,658,594		2.4
	33,000,000			0.250%, 05/15/24		31,542,070		2.3
	41,000,000			0.250%, 06/15/24		39,103,750		2.9
	35,000,000			0.375%, 07/15/24		33,405,859		2.4
	53,000,000			0.375%, 08/15/24		50,474,219		3.7
	32,500,000			0.375%, 09/15/24		30,876,269		2.3
	30,000,000			0.625%, 10/15/24		28,637,109		2.1
	44,500,000			0.750%, 11/15/24		42,534,004		3.1
	44,500,000			0.875%, 12/15/24		42,765,195		3.1
	26,500,000			1.125%, 01/15/25		25,516,601		1.9
	24,000,000			1.500%, 02/15/25		23,326,875		1.7
	44,000,000			1.750%, 03/15/25		43,068,437		3.2
	5,000,000			0.250%, 08/31/25		4,626,172		0.3
	4,000,000			0.250%, 09/30/25		3,695,000		0.3
						921,608,012		67.7
				TOTAL GOVERNMENT BONDS (Cost $1,075,297,508)		1,041,925,091		76.5
STRUCTURED ASSETS
ASSET BACKED						200,170		0.0
			TOTAL STRUCTURED ASSETS (Cost $210,556)			200,170		0.0
			TOTAL BONDS (Cost $1,400,880,712)			1,358,199,842		99.7

See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2022 Annual Report 61

Summary portfolio of investments concluded

Short-Term Bond Index Fund  ■  March 31, 2022

Principal				Issuer		Value		% of net assets
SHORT-TERM INVESTMENTS
GOVERNMENT AGENCY DEBT
				Federal Agricultural Mortgage Corp (FAMC)
$	5,000,000			0.000%, 05/03/22	$	4,999,111		0.4	%
						4,999,111		0.4
REPURCHASE AGREEMENT
				Fixed Income Clearing Corp (FICC)
	16,150,000	r		0.250%, 04/01/22		16,150,000		1.2
						16,150,000		1.2
	Shares			Company
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES
	32,588,993	c		State Street Navigator Securities Lending
				Government Money Market Portfolio
				0.290%		32,588,993		2.4
						32,588,993		2.4
			TOTAL SHORT-TERM INVESTMENTS (Cost $53,738,104)			53,738,104		4.0
			TOTAL PORTFOLIO (Cost $1,454,618,816)			1,411,937,946		103.7
			OTHER ASSETS & LIABILITIES, NET			(50,239,697	)	(3.7	)
			NET ASSETS		$	1,361,698,249		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 $31,896,663. See Note 4 in the Notes to financial statements for additional information about securities lending collateral.
i	Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.
r	Agreement with Fixed Income Clearing Corporation, 0.250% dated 3/31/22 to be repurchased at $16,150,000 on 4/1/22, collateralized by Government Agency Securities, with coupon rate 2.375% and maturity date 3/31/29, valued at $16,473,082.

“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 3/31/22, the aggregate value of securities exempt from registration under Rule 144(A) of the Securities Act of 1933, as amended, amounted to $13,027,536 or 1.0% 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.

62 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements

Summary portfolio of investments

Money Market Fund  ■  March 31, 2022

Principal		Issuer	Value		% of net assets
SHORT-TERM INVESTMENTS
GOVERNMENT AGENCY DEBT
		Federal Agricultural Mortgage Corp (FAMC)
$	12,500,000	0.000%, 04/29/22	$	12,497,667		0.9	%
		Federal Farm Credit Bank (FFCB)
	13,642,000	0.000%, 04/21/22		13,640,333		0.9
	36,068,000	0.000%–2.000%, 04/01/22–06/09/22		36,061,466		2.6
		Federal Home Loan Bank (FHLB)
	30,656,000	0.000%, 04/01/22		30,656,000		2.1
	56,155,000	0.000%, 04/04/22		56,153,830		3.9
	30,538,000	0.000%, 04/06/22		30,537,252		2.1
	12,000,000	0.000%, 04/11/22		11,999,267		0.8
	27,920,000	0.000%, 04/13/22		27,917,944		1.9
	15,992,000	0.000%, 04/18/22		15,990,157		1.1
	26,450,000	0.000%, 04/20/22		26,447,230		1.8
	65,618,000	0.000%, 04/22/22		65,611,215		4.5
	38,002,000	0.000%, 04/25/22		37,995,420		2.6
	16,250,000	0.000%, 04/27/22		16,247,785		1.1
	16,959,000	0.000%, 05/05/22		16,955,341		1.2
	15,000,000	0.000%, 05/06/22		14,996,383		1.0
	18,650,000	0.000%, 05/11/22		18,643,617		1.3
	13,000,000	0.000%, 05/18/22		12,995,078		0.9
	30,000,000	0.000%, 05/27/22		29,984,087		2.1
	14,000,000	0.000%, 06/10/22		13,989,655		1.0
	66,138,000	0.000%–2.125%, 04/08/22–07/01/22		66,133,192		4.6
		Federal National Mortgage Association (FNMA)
	44,094,000	0.000%, 05/04/22		44,084,058		3.0
	16,899,000	0.000%, 05/18/22		16,893,484		1.2
		Other		12,031,561		0.8
				628,462,022		43.4
TREASURY DEBT
		United States Cash Management Bill
	35,700,000	0.000%, 04/05/22		35,699,499		2.5
	34,400,000	0.000%, 04/12/22		34,397,877		2.4
	15,000,000	0.000%, 04/19/22		14,998,805		1.0
	54,107,000	0.000%, 04/26/22		54,103,168		3.7
	24,314,000	0.000%, 05/03/22		24,310,319		1.7
	16,500,000	0.000%, 06/14/22		16,485,838		1.1
		United States Treasury Bill
	40,776,000	0.000%, 04/07/22		40,775,388		2.8
	24,269,000	0.000%, 05/05/22		24,264,625		1.7
	26,961,000	0.000%, 05/12/22		26,953,211		1.9
	14,000,000	0.000%, 05/24/22		13,993,976		1.0
	19,302,000	0.000%, 05/19/22–09/29/22		19,264,909		1.3
		United States Treasury Note
	11,930,000	0.125%, 04/30/22		11,930,325		0.8
	15,000,000	1.750%, 05/15/22		15,025,868		1.0
	14,750,000	1.500%–2.250%, 04/15/22–08/15/22		14,772,816		1.0
		Other		8,030,651		0.6
				355,007,275		24.5

Principal				Issuer	Value			% of net assets
VARIABLE RATE SECURITIES
				Federal Agricultural Mortgage Corp (FAMC)
$	10,500,000	i		0.320%, 03/03/23, SOFR + 0.050%	$	10,500,000			0.7	%
				Federal Farm Credit Bank (FFCB)
	17,700,000	i		0.310%, 06/01/22, SOFR + 0.040%		17,700,067			1.2
	20,500,000	i		0.275%, 07/12/22, SOFR + 0.005%		20,499,808			1.4
	20,600,000	i		0.315%, 09/08/22, SOFR + 0.045%		20,600,645			1.4
	10,500,000	i		0.275%, 10/05/22, SOFR + 0.005%		10,499,809			0.7
	19,909,000	i		0.280%, 11/16/22, SOFR + 0.010%		19,908,791			1.4
	9,400,000	i		0.295%, 12/06/22, SOFR + 0.025%		9,400,000			0.6
	15,475,000	i		0.288%, 07/13/23, SOFR + 0.018%		15,472,748			1.1
	11,250,000	i		0.310%, 08/17/23, SOFR + 0.040%		11,249,998			0.8
	88,212,000	i		0.275%–0.470%, 07/14/22–03/04/24,
				SOFR + 0.008%–SOFR + 0.190%		88,216,881			6.1
				Federal Home Loan Bank (FHLB)
	10,000,000	i		0.325%, 05/13/22, SOFR + 0.055%		10,000,000			0.7
	12,900,000	i		0.280%, 07/26/22, SOFR + 0.010%		12,900,208			0.9
	10,825,000	i		0.315%, 07/29/22, SOFR + 0.045%		10,825,000			0.7
	11,250,000	i		0.280%, 08/02/22, SOFR + 0.010%		11,250,000			0.8
	10,500,000	i		0.280%, 09/09/22, SOFR + 0.010%		10,499,996			0.7
	13,500,000	i		0.355%, 10/05/22, SOFR + 0.085%		13,501,360			0.9
	36,500,000	i		0.330%, 12/08/22, SOFR + 0.060%		36,507,176			2.5
	102,500,000	i		0.270%–0.360%, 04/29/22–08/11/23,
				SOFR + 0.000%–SOFR + 0.090%		102,501,819			7.1
				Federal Home Loan Mortgage Corp (FHLMC)
	9,000,000	i		0.430%, 04/18/22, SOFR + 0.160%		9,000,658			0.6
	12,650,000	i		0.375%, 08/19/22, SOFR + 0.095%		12,650,917			0.9
				Other		20,676,833			1.4
						474,362,714			32.6
			TOTAL SHORT-TERM INVESTMENTS (Cost $1,457,832,011)			1,457,832,011			100.5
			TOTAL PORTFOLIO (Cost $1,457,832,011)			1,457,832,011			100.5
			OTHER ASSETS & LIABILITIES, NET			(7,440,993	)		(0.5	)
			NET ASSETS		$	1,450,391,018			100.0	%

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

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

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

See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2022 Annual Report 63

Statements of assets and liabilities

TIAA-CREF Funds  ■  March 31, 2022

		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*†		$	21,422,192,515		$	12,062,748,530		$	7,750,144,819		$	5,817,304,289		$	261,491,882		$	108,193,515		$	3,167,347,871		$	3,251,696,811	$	39,217,437		$	2,011,962,059		$	1,411,937,946		$	1,457,832,011
Cash§#			2,520,562			32,091,309			26,631,968			22,635,599			3,595,759			195			5,167,219			—		1,508			—			8			327
Receivable from securities transactions			413,991			815,348,834			362,640,170			365,660,414			—			23,636			31,076,609			—		1,244			1,994,847			31,800,793			—
Receivable from Fund shares sold			230,930,601			102,177,697			12,446,312			82,190,302			12,513			40,572			10,794,010			24,622,244		9,243			13,743,233			13,070,876			1,290,514
Dividends and interest receivable			96,425,554			55,251,508			36,608,950			32,463,843			3,422,145			620,184			43,808,403			5,780,439		159,837			6,667,719			2,781,711			415,685
Due from affiliates			735,841			1,148,488			1,131			737,045			5,958			19,336			170,694			430,103		19,940			217,773			75,138			82,283
Receivable for variation margin on open futures contracts			—			704,588			—			700,630			—			—			—			328,839		—			3,352,281			—			—
Other			722,199			495,532			128,626			288,484			40,115			696			282,805			258,184		547			145,287			19,718			227
Total assets			21,753,941,263			13,069,966,486			8,188,601,976			6,321,980,606			268,568,372			108,898,134			3,258,647,611			3,283,116,620		39,409,756			2,038,083,199			1,459,686,190			1,459,621,047
LIABILITIES
Management fees payable			1,247,003			2,425,347			1,936,949			1,268,160			57,953			29,880			898,069			670,949		9,630			412,815			68,446			124,978
Service agreement fees payable			137,461			242,836			290,409			101,809			87			3,615			58,692			71,354		1,597			70,020			64,860			53,265
Distribution fees payable			10,132			20,853			74,593			59,056			53,881			1,674			55,035			34,167		601			31,348			706			65,611
Due to affiliates			18,453			11,179			8,587			8,540			2,875			4,054			7,224			7,260		4,050			6,003			5,280			4,865
Overdraft payable			—			—			—			—			—			—			—			377,582		—			245,292			—			—
Payable for collateral for securities loaned			64,739,600			424,299,963			78,113,139			119,034,091			—			259,024			41,688,554			4,212,962		647,468			18,922,258			32,588,993			—
Payable for securities transactions			361,686,853			113,186,459			68,906,470			73,345,311			—			2,762,213			12,200,777			8,108,612		—			17,156,752			63,500,933			7,494,510
Payable for delayed delivery securities			164,647,541			2,096,011,768			1,113,104,540			865,165,393			1,134,736			1,072,356			58,009,325			—		250,000			1,003,750			999,460			—
Payable for Fund shares redeemed			12,793,867			6,767,381			7,789,199			1,339,315			121,534			174,678			3,751,457			1,476,474		172,409			810,493			63,965			1,363,529
Income distribution payable			19,613,871			11,364,899			2,655,784			9,954,232			37,312			110,533			3,561,346			—		33,717			2,438,488			550,797			2,488
Payable for trustee compensation			719,114			469,161			127,607			279,534			40,083			673			280,039			255,967		543			145,031			19,262			—
Accrued expenses and other payables			1,160,504			641,014			820,882			312,704			54,128			35,925			224,107			143,683		31,832			123,032			125,239			120,783
Total liabilities			626,774,399			2,655,440,860			1,273,828,159			1,070,868,145			1,502,589			4,454,625			120,734,625			15,359,010		1,151,847			41,365,282			97,987,941			9,230,029
NET ASSETS		$	21,127,166,864		$	10,414,525,626		$	6,914,773,817		$	5,251,112,461		$	267,065,783		$	104,443,509		$	3,137,912,986		$	3,267,757,610	$	38,257,909		$	1,996,717,917		$	1,361,698,249		$	1,450,391,018
NET ASSETS CONSIST OF:
Paid-in-capital		$	22,028,080,892		$	11,002,749,188		$	7,328,229,815		$	5,536,008,564		$	276,051,514		$	108,035,417		$	3,462,088,598		$	3,109,078,861	$	39,152,234		$	2,047,263,613		$	1,404,981,747		$	1,450,391,823
Total distributable earnings (loss)			(900,914,028	)		(588,223,562	)		(413,455,998	)		(284,896,103	)		(8,985,731	)		(3,591,908	)		(324,175,612	)		158,678,749		(894,325	)		(50,545,696	)		(43,283,498	)		(805	)
NET ASSETS		$	21,127,166,864		$	10,414,525,626		$	6,914,773,817		$	5,251,112,461		$	267,065,783		$	104,443,509		$	3,137,912,986		$	3,267,757,610	$	38,257,909		$	1,996,717,917		$	1,361,698,249		$	1,450,391,018
*	Includes securities loaned of	$	66,483,156		$	417,608,736		$	76,462,696		$	117,248,148		$	—		$	255,487		$	50,045,221		$	4,139,733	$	635,863		$	23,903,262		$	31,896,663		$	—
†	Portfolio investments, cost	$	22,308,979,319		$	12,504,288,201		$	8,076,897,755		$	6,038,794,913		$	270,706,524		$	111,813,959		$	3,287,476,838		$	3,124,521,822	$	40,060,642		$	2,063,562,851		$	1,454,618,816		$	1,457,832,011
§	Includes cash collateral for mortgage dollar rolls of	$	—		$	29,090,312		$	26,427,560		$	20,308,734		$	—		$	—		$	—		$	—	$	—		$	—		$	—		$	—
#	Includes cash collateral for open futures	$	—		$	436,100		$	—		$	—		$	—		$	—		$	—		$	—	$	—		$	—		$	—		$	—

64 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2022 Annual Report 65

Statements of assets and liabilities	concluded
TIAA-CREF Funds  ■  March 31, 2022

	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	$	9,680,082,401	$	4,490,250,351	$	4,648,095,495	$	1,557,969,539	$	18,226,020	$	77,183,206	$	2,147,075,281	$	866,666,758	$	24,494,231	$	523,477,664	$	77,862,997	$	886,508,056
Outstanding shares of beneficial interest, unlimited shares authorized ($.0001 par value)		927,175,517		450,399,932		470,749,318		155,384,029		1,816,077		7,759,662		235,803,926		73,175,488		2,493,976		51,708,653		8,014,019		886,477,509
Net asset value per share	$	10.44	$	9.97	$	9.87	$	10.03	$	10.04	$	9.95	$	9.11	$	11.84	$	9.82	$	10.12	$	9.72	$	1.00
ADVISOR CLASS:
Net assets	$	14,176,378	$	989,601,672	$	1,526,574,920	$	162,810,778	$	682,923	$	3,270,014	$	9,759,894	$	159,518,023	$	4,866,136	$	235,228,409	$	788,652	$	967,133
Outstanding shares of beneficial interest, unlimited shares authorized ($.0001 par value)		1,357,778		99,195,829		154,517,459		16,223,936		68,074		328,757		1,072,527		13,467,160		495,468		23,245,919		81,216		967,077
Net asset value per share	$	10.44	$	9.98	$	9.88	$	10.04	$	10.03	$	9.95	$	9.10	$	11.84	$	9.82	$	10.12	$	9.71	$	1.00
PREMIER CLASS:
Net assets	$	25,715,388	$	6,595,763	$	27,068,264	$	7,305,206	$	—	$	994,652	$	15,798,134	$	2,627,372	$	982,149	$	3,733,408	$	659,267	$	27,745,912
Outstanding shares of beneficial interest, unlimited shares authorized ($.0001 par value)		2,463,327		661,355		2,740,078		728,653		—		100,000		1,732,710		222,279		100,000		368,432		67,913		27,736,932
Net asset value per share	$	10.44	$	9.97	$	9.88	$	10.03	$	—	$	9.95	$	9.12	$	11.82	$	9.82	$	10.13	$	9.71	$	1.00
RETIREMENT CLASS:
Net assets	$	628,526,253	$	162,595,507	$	382,703,576	$	326,659,001	$	—	$	15,530,777	$	265,385,380	$	172,924,421	$	5,683,234	$	118,117,469	$	309,262,503	$	246,141,828
Outstanding shares of beneficial interest, unlimited shares authorized ($.0001 par value)		60,173,940		16,008,375		38,750,949		32,539,630		—		1,561,304		29,136,712		14,482,403		578,591		11,654,958		31,833,595		246,131,994
Net asset value per share	$	10.45	$	10.16	$	9.88	$	10.04	$	—	$	9.95	$	9.11	$	11.94	$	9.82	$	10.13	$	9.71	$	1.00
RETAIL CLASS:
Net assets	$	31,980,043	$	93,247,155	$	330,331,562	$	270,847,557	$	248,156,840	$	7,464,860	$	249,615,809	$	157,227,496	$	2,232,159	$	143,839,743	$	2,831,437	$	289,028,089
Outstanding shares of beneficial interest, unlimited shares authorized ($.0001 par value)		3,061,387		9,189,938		33,477,310		26,960,963		24,699,724		750,447		27,292,013		13,657,152		227,269		14,199,044		291,612		289,006,832
Net asset value per share	$	10.45	$	10.15	$	9.87	$	10.05	$	10.05	$	9.95	$	9.15	$	11.51	$	9.82	$	10.13	$	9.71	$	1.00
CLASS W:
Net assets	$	10,746,686,401	$	4,672,235,178	$	—	$	2,925,520,380	$	—	$	—	$	450,278,488	$	1,908,793,540	$	—	$	972,321,224	$	970,293,393	$	—
Outstanding shares of beneficial interest, unlimited shares authorized ($.0001 par value)		1,029,187,738		468,605,930		—		291,782,379		—		—		49,449,101		161,179,227		—		96,053,657		99,867,172		—
Net asset value per share	$	10.44	$	9.97	$	—	$	10.03	$	—	$	—	$	9.11	$	11.84	$	—	$	10.12	$	9.72	$	—

66 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2022 Annual Report 67

Statements of operations

TIAA-CREF Funds  ■  For the year ended March 31, 2022

		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*		$	420,629,055		$	228,061,837		$	141,625,194		$	155,101,133		$	6,820,423		$	1,553,681		$	177,928,075		$	226,723,909		$	652,869		$	37,539,923		$	7,905,447		$	975,313
Income from securities lending, net			307,829			329,116			116,533			138,013			—			86			215,559			3,357			256			43,264			45,632			—
Dividends			—			1,090,429			3,150,524			956,184			—			76,461			—			—			—			—			—			—
Total income			420,936,884			229,481,382			144,892,251			156,195,330			6,820,423			1,630,228			178,143,634			226,727,266			653,125			37,583,187			7,951,079			975,313
EXPENSES
Management fees			16,803,095			27,748,792			22,849,600			16,043,887			717,522			234,885			12,024,760			8,594,617			105,983			5,034,868			783,095			1,411,758
Shareholder servicing – Institutional Class			6,262			3,721			36,606			2,493			215			116			6,513			1,615			110			1,307			498			597
Shareholder servicing – Advisor Class			18,052			1,068,280			924,895			153,436			802			562			12,958			149,472			1,128			211,816			804			403
Shareholder servicing – Premier Class			113			99			17,105			92			—			87			88			88			84			90			95			—
Shareholder servicing – Retirement Class			1,649,807			491,474			1,098,470			934,594			—			38,328			727,045			449,054			12,265			327,074			611,752			601,288
Shareholder servicing – Retail Class			34,022			55,452			40,450			194,026			82,897			18,797			113,592			103,272			15,121			89,924			16,783			302,701
Shareholder servicing – Class W			5,502			2,712			—			2,025			—			—			773			1,497			—			677			902			—
Distribution fees – Premier Class			43,408			12,227			44,348			11,387			—			1,594			26,019			6,454			1,526			5,258			1,018			45,257
Distribution fees – Retail Class			87,153			258,013			844,606			740,881			678,414			17,577			674,388			390,483			5,600			389,183			8,698			739,900
Custody and accounting fees			1,508,538			428,870			232,712			363,743			56,404			39,638			107,133			42,066			33,524			88,222			154,269			66,715
Administrative service fees			213,827			131,461			98,084			96,081			33,208			46,550			79,245			80,566			46,380			68,685			63,189			54,217
Trustee fees and expenses			211,946			100,643			69,496			58,293			2,921			554			37,192			36,523			356			21,169			12,191			14,020
Professional fees			147,191			94,288			78,525			88,969			35,077			44,201			68,954			54,430			51,759			67,348			59,287			41,553
Registration fees			130,609			126,312			162,006			94,146			64,816			84,205			105,328			99,462			81,037			96,707			87,262			134,450
Other expenses			645,812			558,301			2,565,384			139,867			26,483			27,088			239,823			158,160			21,431			69,572			79,681			46,609
Total expenses			21,505,337			31,080,645			29,062,287			18,923,920			1,698,759			554,182			14,223,811			10,167,759			376,304			6,471,900			1,879,524			3,459,468
Less: Expenses reimbursed by the investment adviser			(9,491,826	)		(14,509,689	)		(10,072	)		(9,365,213	)		(75,592	)		(245,780	)		(1,653,376	)		(4,387,717	)		(233,238	)		(2,658,601	)		(913,371	)		(2,484,155	)
Fee waiver by investment adviser and Nuveen Securities			(14,439	)		(38,512	)		—			(164,811	)		(98,681	)		(2,644	)		(618,688	)		(771,876	)		(1,396	)		(51,195	)		(1,850	)		—
Net expenses			11,999,072			16,532,444			29,052,215			9,393,896			1,524,486			305,758			11,951,747			5,008,166			141,670			3,762,104			964,303			975,313
Net investment income (loss)			408,937,812			212,948,938			115,840,036			146,801,434			5,295,937			1,324,470			166,191,887			221,719,100			511,455			33,821,083			6,986,776			—
NET REALIZED AND UNREALIZED GAIN (LOSS) ON TOTAL INVESTMENTS
Realized gain (loss):
Portfolio investments			23,344,776			(102,795,643	)		(50,778,060	)		(50,348,729	)		930,288			149,151			87,867,175			42,782,687			(41,981	)		(2,966,828	)		1,993,496			1,683
Futures contracts			—			—			—			—			—			—			(139	)		94,971			—			4,846,217			—			—
Forward foreign currency contracts			—			302,718			1,447,049			226,982			—			—			—			—			—			—			—			—
Swap contracts			—			1,475,868			—			(2,530,226	)		—			—			(955,984	)		—			—			—			—			—
Foreign currency transactions			—			(802,064	)		(235,575	)		(673,690	)		—			—			—			135			—			2,218			—			—
Net realized gain (loss) on total investments			23,344,776			(101,819,121	)		(49,566,586	)		(53,325,663	)		930,288			149,151			86,911,052			42,877,793			(41,981	)		1,881,607			1,993,496			1,683
Change in unrealized appreciation (depreciation) on:
Portfolio investments‡			(1,403,062,385	)		(590,379,580	)		(377,109,383	)		(296,044,692	)		(22,198,019	)		(4,539,784	)		(241,246,671	)		(135,883,208	)		(1,354,182	)		(68,143,625	)		(49,417,730	)		—
Futures contracts			—			704,232			—			700,276			—			—			—			(22,333	)		—			1,543,801			—			—
Forward foreign currency contracts			—			(94,277	)		(506,034	)		(70,707	)		—			—			—			—			—			—			—			—
Swap contracts			—			189,569			—			879,095			—			—			—			—			—			—			—			—
Translation of assets (other than portfolio investments) and liabilities denominated in foreign currencies			—			(10,559	)		2,559			(8,923	)		—			—			—			—			—			—			—			—
Net change in unrealized appreciation (depreciation) on total investments and from affiliated investments			(1,403,062,385	)		(589,590,615	)		(377,612,858	)		(294,544,951	)		(22,198,019	)		(4,539,784	)		(241,246,671	)		(135,905,541	)		(1,354,182	)		(66,599,824	)		(49,417,730	)		—
Net realized and unrealized gain (loss) on total investments			(1,379,717,609	)		(691,409,736	)		(427,179,444	)		(347,870,614	)		(21,267,731	)		(4,390,633	)		(154,335,619	)		(93,027,748	)		(1,396,163	)		(64,718,217	)		(47,424,234	)		1,683
Net increase (decrease) in net assets from operations		$	(970,779,797	)	$	(478,460,798	)	$	(311,339,408	)	$	(201,069,180	)	$	(15,971,794	)	$	(3,066,163	)	$	11,856,268		$	128,691,352		$	(884,708	)	$	(30,897,134	)	$	(40,437,458	)	$	1,683
*	Net of foreign withholding taxes of	$	—		$	252,281		$	—		$	115,618		$	—		$	16		$	—		$	810		$	398		$	5,050		$	—		$	—
‡	Includes net change in unrealized foreign capital gains taxes	$	—		$	(2,919	)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—

68 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2022 Annual Report 69

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, 2022			March 31, 2021			March 31, 2022			March 31, 2021			March 31, 2022			March 31, 2021			March 31, 2022			March 31, 2021			March 31, 2022			March 31, 2021			March 31, 2022			March 31, 2021
OPERATIONS
Net investment income (loss)		$	408,937,812		$	378,482,804		$	212,948,938		$	182,250,354		$	115,840,036		$	107,165,048		$	146,801,434		$	144,506,285		$	5,295,937		$	5,472,576		$	1,324,470		$	1,025,864
Net realized gain (loss) on total investments			23,344,776			105,003,966			(101,819,121	)		91,525,926			(49,566,586	)		82,117,573			(53,325,663	)		83,298,173			930,288			1,262,775			149,151			750,757
Net change in unrealized appreciation (depreciation) on total investments			(1,403,062,385	)		(461,597,834	)		(589,590,615	)		93,017,936			(377,612,858	)		43,811,152			(294,544,951	)		130,781,908			(22,198,019	)		9,721,080			(4,539,784	)		849,043
Net increase (decrease) in net assets from operations			(970,779,797	)		21,888,936			(478,460,798	)		366,794,216			(311,339,408	)		233,093,773			(201,069,180	)		358,586,366			(15,971,794	)		16,456,431			(3,066,163	)		2,625,664
DISTRIBUTIONS TO SHAREHOLDERS
	Institutional Class		(208,247,780	)		(276,146,082	)		(96,995,836	)		(92,991,478	)		(80,690,084	)		(164,369,131	)		(62,581,377	)		(52,937,053	)		(446,575	)		(168,185	)		(892,239	)		(1,008,735	)
	Advisor Class		(354,502	)		(570,964	)		(17,620,027	)		(31,108,715	)		(25,282,854	)		(55,232,430	)		(7,017,069	)		(7,057,943	)		(20,639	)		(17,922	)		(72,434	)		(54,126	)
	Premier Class		(554,021	)		(760,730	)		(175,573	)		(514,276	)		(462,657	)		(1,434,983	)		(272,353	)		(290,226	)		—			—			(27,667	)		(43,940	)
	Retirement Class		(12,042,446	)		(14,523,431	)		(4,069,945	)		(8,635,361	)		(6,522,485	)		(21,278,761	)		(13,038,334	)		(13,174,662	)		—			—			(404,717	)		(454,533	)
	Retail Class		(614,171	)		(915,835	)		(2,156,303	)		(4,180,968	)		(5,016,488	)		(11,232,764	)		(10,395,434	)		(9,539,184	)		(6,804,183	)		(6,124,364	)		(175,781	)		(186,041	)
	Class W		(223,734,617	)		(227,534,145	)		(134,602,915	)		(185,991,035	)		—			—			(129,048,899	)		(100,167,200	)		—			—			—			—
Total distributions			(445,547,537	)		(520,451,187	)		(255,620,599	)		(323,421,833	)		(117,974,568	)		(253,548,069	)		(222,353,466	)		(183,166,268	)		(7,271,397	)		(6,310,471	)		(1,572,838	)		(1,747,375	)
SHAREHOLDER TRANSACTIONS
Subscriptions:	Institutional Class		2,112,827,292			2,456,814,994			2,445,946,433			1,428,940,925			1,591,788,180			1,729,736,040			282,998,528			434,746,403			13,932,708			4,668,192			53,696,406			5,401,351
	Advisor Class		4,266,066			14,768,747			480,105,858			164,685,889			705,513,239			857,862,283			27,228,319			46,635,258			191,290			76,220			2,652,409			465,033
	Premier Class		5,123,684			8,813,749			1,068,890			2,031,302			9,603,394			15,814,767			3,076,874			1,232,191			—			—			—			—
	Retirement Class		92,780,250			201,302,428			8,663,953			28,199,126			15,472,585			14,749,094			11,063,875			41,833,062			—			—			5,839,879			9,873,545
	Retail Class		4,745,659			15,173,942			5,955,198			13,674,368			109,467,091			131,698,861			12,091,991			22,198,451			19,294,061			17,297,942			3,793,902			5,095,909
	Class W		3,357,517,205			4,005,490,787			1,061,391,722			1,910,560,846			—			—			550,548,781			1,083,646,811			—			—			—			—
Reinvestments of distributions:	Institutional Class		203,470,219			270,182,073			82,147,693			76,139,941			62,443,067			128,091,744			41,731,211			33,541,251			445,941			164,607			190,973			63,718
	Advisor Class		352,433			567,980			16,900,067			29,097,804			16,580,830			31,788,074			3,722,630			3,351,025			17,936			15,417			42,447			7,490
	Premier Class		554,021			760,730			173,433			500,609			351,963			1,098,435			264,803			287,340			—			—			—			—
	Retirement Class		12,040,007			14,523,122			4,051,405			8,634,601			6,520,673			21,276,448			13,038,332			13,174,631			—			—			377,036			410,582
	Retail Class		593,498			885,879			2,036,844			3,946,957			4,881,184			10,850,665			9,756,413			8,942,620			6,232,653			5,639,132			148,546			142,107
	Class W		18,427,117			62,702,755			20,547,704			79,899,081			—			—			43,462,435			21,371,561			—			—			—			—
Redemptions:	Institutional Class		(1,695,988,968	)		(2,850,311,486	)		(534,829,199	)		(435,201,323	)		(889,639,989	)		(895,504,284	)		(250,764,415	)		(298,734,074	)		(2,588,323	)		(1,924,566	)		(1,648,435	)		(373,666	)
	Advisor Class		(8,233,530	)		(13,078,849	)		(203,549,018	)		(364,694,452	)		(384,266,995	)		(524,644,076	)		(62,966,992	)		(61,987,935	)		(130,320	)		(418,058	)		(752,034	)		(158	)
	Premier Class		(7,078,433	)		(5,887,704	)		(5,907,388	)		(4,853,823	)		(14,176,961	)		(14,976,740	)		(3,638,794	)		(3,223,104	)		—			—			—			—
	Retirement Class		(46,896,788	)		(34,262,425	)		(50,012,214	)		(38,214,994	)		(88,379,282	)		(95,942,563	)		(69,142,717	)		(68,316,770	)		—			—			(3,737,516	)		(2,649,604	)
	Retail Class		(7,240,195	)		(8,652,039	)		(15,678,604	)		(18,358,964	)		(67,680,772	)		(70,385,109	)		(31,603,966	)		(40,119,963	)		(27,870,360	)		(25,271,282	)		(2,323,458	)		(1,734,083	)
	Class W		(1,023,012,459	)		(681,946,493	)		(873,628,917	)		(829,185,907	)		—			—			(471,156,238	)		(415,757,207	)		—			—			—			—
Net increase (decrease) from shareholder transactions			3,024,247,078			3,457,848,190			2,445,383,860			2,055,801,986			1,078,478,207			1,341,513,639			109,711,070			822,821,551			9,525,586			247,604			58,280,155			16,702,224
Net increase (decrease) in net assets			1,607,919,744			2,959,285,939			1,711,302,463			2,099,174,369			649,164,231			1,321,059,343			(313,711,576	)		998,241,649			(13,717,605	)		10,393,564			53,641,154			17,580,513
NET ASSETS
Beginning 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
End of period		$	21,127,166,864		$	19,519,247,120		$	10,414,525,626		$	8,703,223,163		$	6,914,773,817		$	6,265,609,586		$	5,251,112,461		$	5,564,824,037		$	267,065,783		$	280,783,388		$	104,443,509		$	50,802,355

70 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2022 Annual Report 71

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, 2022			March 31, 2021			March 31, 2022			March 31, 2021			March 31, 2022			March 31, 2021			March 31, 2022			March 31, 2021			March 31, 2022			March 31, 2021			March 31, 2022			March 31, 2021
CHANGE IN FUND SHARES
Shares sold:	Institutional Class		189,526,616			212,593,068			227,682,896			130,882,185			151,786,310			159,781,356			26,225,893			39,601,213			1,271,551			436,915			5,289,428			496,961
	Advisor Class		379,444			1,271,130			45,916,611			15,027,739			67,113,419			79,188,356			2,527,153			4,250,982			17,554			6,973			249,962			42,486
	Premier Class		459,481			760,651			100,275			186,215			915,726			1,458,864			283,317			111,856			—			—			—			—
	Retirement Class		8,265,033			17,385,750			797,568			2,526,492			1,474,770			1,356,443			1,019,620			3,802,018			—			—			547,966			904,324
	Retail Class		423,818			1,303,226			547,161			1,221,128			10,401,369			12,189,880			1,119,092			2,033,328			1,774,246			1,591,476			357,423			467,822
	Class W		302,233,416			346,154,733			99,608,174			174,118,451			—			—			51,157,205			98,562,739			—			—			—			—
Shares reinvested:	Institutional Class		18,317,356			23,346,381			7,754,826			6,942,626			5,963,182			11,835,090			3,892,646			3,041,603			41,410			15,177			18,022			5,853
	Advisor Class		31,646			49,033			1,595,027			2,650,746			1,583,083			2,935,530			346,662			304,210			1,659			1,425			4,032			687
	Premier Class		49,836			65,733			16,303			45,590			33,555			101,390			24,697			26,118			—			—			—			—
	Retirement Class		1,083,222			1,254,614			374,109			772,476			621,669			1,965,138			1,213,379			1,194,908			—			—			35,573			37,579
	Retail Class		53,401			76,497			188,498			353,481			466,513			1,003,502			908,398			810,686			575,807			520,327			14,016			13,008
	Class W		1,649,697			5,414,746			1,929,362			7,276,783			—			—			4,058,117			1,923,633			—			—			—			—
Shares redeemed:	Institutional Class		(152,285,733	)		(245,929,801	)		(50,404,510	)		(39,781,010	)		(85,052,838	)		(83,146,337	)		(23,322,023	)		(27,352,873	)		(239,969	)		(180,027	)		(154,479	)		(34,476	)
	Advisor Class		(735,425	)		(1,128,848	)		(19,072,603	)		(33,363,140	)		(36,881,498	)		(48,707,008	)		(5,880,061	)		(5,666,333	)		(12,295	)		(39,263	)		(73,011	)		(15	)
	Premier Class		(636,705	)		(509,261	)		(548,519	)		(443,450	)		(1,347,412	)		(1,383,780	)		(332,903	)		(292,902	)		—			—			—			—
	Retirement Class		(4,235,411	)		(2,962,781	)		(4,607,806	)		(3,423,565	)		(8,404,221	)		(8,874,038	)		(6,416,591	)		(6,234,753	)		—			—			(352,412	)		(243,413	)
	Retail Class		(647,527	)		(745,599	)		(1,444,857	)		(1,649,105	)		(6,497,269	)		(6,521,498	)		(2,939,844	)		(3,665,830	)		(2,583,713	)		(2,338,800	)		(217,840	)		(159,392	)
	Class W		(91,976,423	)		(58,874,575	)		(83,035,262	)		(76,076,409	)		—			—			(44,292,975	)		(38,149,008	)		—			—			—			—
Net increase (decrease) from shareholder transactions			271,955,742			299,524,697			227,397,253			187,267,233			102,176,358			123,182,888			9,591,782			74,301,595			846,250			14,203			5,718,680			1,531,424

72 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2022 Annual Report 73

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, 2022			March 31, 2021			March 31, 2022			March 31, 2021			March 31, 2022			March 31, 2021			March 31, 2022			March 31, 2021			March 31, 2022			March 31, 2021			March 31, 2022			March 31, 2021
OPERATIONS
Net investment income (loss)		$	166,191,887		$	194,549,033		$	221,719,100		$	50,168,853		$	511,455		$	601,656		$	33,821,083		$	34,796,670		$	6,986,776		$	11,152,228		$	—		$	1,477,342
Net realized gain (loss) on total investments			86,911,052			(75,148,118	)		42,877,793			34,952,895			(41,981	)		397,592			1,881,607			9,312,983			1,993,496			6,440,656			1,683			19,335
Net change in unrealized appreciation (depreciation) on total investments			(241,246,671	)		545,888,369			(135,905,541	)		165,959,791			(1,354,182	)		980,867			(66,599,824	)		35,813,951			(49,417,730	)		(6,917,171	)		—			—
Net increase (decrease) in net assets from operations			11,856,268			665,289,284			128,691,352			251,081,539			(884,708	)		1,980,115			(30,897,134	)		79,923,604			(40,437,458	)		10,675,713			1,683			1,496,677
DISTRIBUTIONS TO SHAREHOLDERS
	Institutional Class		(115,686,867	)		(136,677,735	)		(82,578,435	)		(18,322,810	)		(487,844	)		(660,441	)		(8,764,650	)		(11,691,144	)		(731,470	)		(1,008,902	)		—			(1,092,494	)
	Advisor Class		(501,535	)		(317,334	)		(11,209,249	)		(1,677,275	)		(52,828	)		(30,264	)		(3,737,945	)		(3,132,353	)		(5,068	)		(17,438	)		—			(1,810	)
	Premier Class		(784,909	)		(1,028,780	)		(274,151	)		(90,185	)		(18,443	)		(27,415	)		(54,059	)		(72,374	)		(5,320	)		(10,323	)		—			(180,624	)
	Retirement Class		(12,854,349	)		(15,172,810	)		(11,894,929	)		(2,046,885	)		(84,359	)		(106,548	)		(1,858,391	)		(2,027,413	)		(1,789,546	)		(1,568,583	)		—			(141,850	)
	Retail Class		(11,904,390	)		(13,517,178	)		(10,795,889	)		(1,633,050	)		(37,989	)		(42,124	)		(2,180,067	)		(2,444,158	)		(21,204	)		(48,338	)		—			(61,319	)
	Class W		(24,359,294	)		(27,886,439	)		(137,874,837	)		(25,359,464	)		—			—			(19,622,894	)		(16,803,651	)		(9,740,076	)		(10,844,607	)		—			—
Total distributions			(166,091,344	)		(194,600,276	)		(254,627,490	)		(49,129,669	)		(681,463	)		(866,792	)		(36,218,006	)		(36,171,093	)		(12,292,684	)		(13,498,191	)		—			(1,478,097	)
SHAREHOLDER TRANSACTIONS
Subscriptions:	Institutional Class		674,281,036			1,222,458,027			400,704,270			252,784,435			2,304,271			1,366,411			150,461,529			245,990,712			13,726,940			31,834,826			483,709,427			442,102,990
	Advisor Class		14,838,791			7,973,217			82,186,117			47,012,800			4,606,995			85,467			91,689,510			121,218,722			418,499			1,253,362			322,145			92,843
	Premier Class		8,734,126			3,356,122			941,188			7,147,889			—			—			850,249			1,954,283			192,328			184,844			31,230,445			189,053,632
	Retirement Class		9,155,129			20,428,838			12,103,682			8,482,886			2,645,875			2,004,385			11,128,696			52,232,704			139,839,342			102,837,518			144,709,833			176,643,982
	Retail Class		72,121,039			45,326,476			33,081,005			28,240,214			535,350			1,129,866			8,022,273			10,137,654			308,003			2,319,801			102,767,008			131,431,955
	Class W		77,328,318			253,074,356			482,791,040			594,234,969			—			—			204,621,279			337,947,693			308,302,866			336,940,643			—			—
Reinvestments of distributions:	Institutional Class		96,639,412			117,068,736			78,861,863			17,546,587			67,525			52,403			5,451,998			8,290,525			731,227			1,008,778			—			1,089,610
	Advisor Class		470,651			294,228			6,626,751			704,677			33,172			1,340			2,125,853			1,401,068			4,237			15,997			—			1,683
	Premier Class		783,999			1,028,264			274,151			90,185			—			—			54,059			72,374			3,357			6,795			—			162,176
	Retirement Class		12,854,037			15,172,222			11,894,929			2,046,885			66,626			80,152			1,858,391			2,027,418			1,789,505			1,568,471			—			141,848
	Retail Class		11,030,284			12,611,107			9,778,871			1,455,235			20,373			15,443			2,031,441			2,261,446			20,924			47,504			—			60,308
	Class W		—			57			20,927,325			—			—			—			1,208,893			582,474			3,891,220			1,818,242			—			—
Redemptions:	Institutional Class		(1,219,453,793	)		(1,243,758,639	)		(779,682,189	)		(845,770,706	)		(773,688	)		(444,397	)		(282,035,075	)		(219,612,183	)		(10,842,931	)		(10,057,422	)		(408,503,941	)		(721,317,556	)
	Advisor Class		(13,234,349	)		(5,357,880	)		(46,780,317	)		(74,266,672	)		(691,403	)		(35,749	)		(81,160,217	)		(65,633,564	)		(304,566	)		(1,212,889	)		(372,778	)		(301,415	)
	Premier Class		(13,254,502	)		(6,241,565	)		(6,737,950	)		(2,459,784	)		—			—			(246,675	)		(3,147,829	)		(143,207	)		(178,048	)		(39,495,914	)		(594,582,716	)
	Retirement Class		(50,723,672	)		(63,843,003	)		(24,409,197	)		(31,262,593	)		(1,551,244	)		(733,177	)		(33,010,354	)		(27,612,058	)		(656,564	)		(7,581,019	)		(168,970,415	)		(237,349,564	)
	Retail Class		(98,869,829	)		(86,368,883	)		(30,287,662	)		(37,204,304	)		(436,263	)		(216,967	)		(23,544,303	)		(27,434,464	)		(1,690,466	)		(1,153,267	)		(124,750,417	)		(152,538,312	)
	Class W		(74,950,194	)		(226,865,222	)		(276,054,899	)		(180,734,642	)		—			—			(155,160,597	)		(135,289,102	)		(106,988,915	)		(65,686,930	)		—			—
Net increase (decrease) from shareholder transactions			(492,249,517	)		66,356,458			(23,781,022	)		(211,951,939	)		6,827,589			3,305,177			(95,653,050	)		305,387,873			348,601,799			393,967,206			20,645,393			(765,308,536	)
Net increase (decrease) in net assets			(646,484,593	)		537,045,466			(149,717,160	)		(10,000,069	)		5,261,418			4,418,500			(162,768,190	)		349,140,384			295,871,657			391,144,728			20,647,076			(765,289,956	)
NET ASSETS
Beginning 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
End of period		$	3,137,912,986		$	3,784,397,579		$	3,267,757,610		$	3,417,474,770		$	38,257,909		$	32,996,491		$	1,996,717,917		$	2,159,486,107		$	1,361,698,249		$	1,065,826,592		$	1,450,391,018		$	1,429,743,942

74 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2022 Annual Report 75

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, 2022		March 31, 2021			March 31, 2022		March 31, 2021			March 31, 2022		March 31, 2021			March 31, 2022		March 31, 2021			March 31, 2022		March 31, 2021			March 31, 2022		March 31, 2021
CHANGE IN FUND SHARES
Shares sold:	Institutional Class		70,869,100		132,386,946			32,041,978		20,863,995			226,753		133,194			14,534,510		23,523,971			1,371,419		3,134,042			483,709,427		442,102,990
	Advisor Class		1,552,889		868,826			6,648,241		3,882,496			456,273		8,420			8,821,301		11,606,447			42,316		123,074			322,145		92,843
	Premier Class		908,328		361,343			75,773		601,096			—		—			81,408		188,131			19,057		18,212			31,230,445		189,053,632
	Retirement Class		960,507		2,219,208			973,854		695,853			261,882		195,234			1,066,147		4,993,483			13,960,449		10,126,991			144,709,833		176,643,982
	Retail Class		7,557,314		4,897,348			2,759,679		2,394,559			52,941		109,891			769,209		969,690			30,707		228,273			102,767,009		131,431,955
	Class W		8,119,739		28,164,616			39,229,722		49,062,320			—		—			19,626,031		32,295,855			30,713,554		33,149,034			—		—
Shares reinvested:	Institutional Class		10,171,227		12,632,844			6,478,026		1,443,612			6,669		5,102			524,796		792,090			73,122		99,260			—		1,089,610
	Advisor Class		49,691		31,682			544,858		57,946			3,294		130			204,951		133,894			424		1,574			—		1,683
	Premier Class		82,400		111,053			22,516		7,430			—		—			5,204		6,913			336		669			—		162,176
	Retirement Class		1,352,770		1,639,517			969,635		167,054			6,576		7,804			178,732		193,472			179,190		154,357			—		141,847
	Retail Class		1,156,232		1,357,361			826,365		122,815			2,009		1,503			195,570		216,004			2,094		4,675			—		60,308
	Class W		—		6			1,733,830		—			—		—			116,576		55,421			389,902		179,314			—		—
Shares redeemed:	Institutional Class		(128,982,059	)	(134,357,349	)		(64,172,715	)	(70,083,018	)		(76,880	)	(43,161	)		(26,994,601	)	(20,987,233	)		(1,079,681	)	(991,195	)		(408,503,941	)	(721,317,556	)
	Advisor Class		(1,404,163	)	(585,602	)		(3,812,180	)	(6,137,928	)		(69,159	)	(3,490	)		(7,800,862	)	(6,281,143	)		(30,375	)	(119,532	)		(372,778	)	(301,415	)
	Premier Class		(1,375,854	)	(670,159	)		(547,879	)	(202,960	)		—		—			(23,588	)	(299,786	)		(14,166	)	(17,576	)		(39,495,914	)	(594,582,716	)
	Retirement Class		(5,332,048	)	(6,897,819	)		(1,968,262	)	(2,571,756	)		(152,091	)	(71,390	)		(3,168,360	)	(2,636,569	)		(66,211	)	(744,216	)		(168,970,415	)	(237,349,564	)
	Retail Class		(10,347,179	)	(9,356,735	)		(2,530,078	)	(3,165,478	)		(43,035	)	(21,077	)		(2,264,887	)	(2,622,580	)		(168,362	)	(113,556	)		(124,750,417	)	(152,538,312	)
	Class W		(7,962,680	)	(24,192,680	)		(22,441,483	)	(14,922,941	)		—		—			(14,977,065	)	(12,972,205	)		(10,689,125	)	(6,466,461	)		—		—
Net increase (decrease) from shareholder transactions			(52,623,786	)	8,610,406			(3,168,120	)	(17,784,905	)		675,232		322,160			(9,104,928	)	29,175,855			34,734,650		38,766,939			20,645,394		(765,308,537	)

76 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2022 Annual Report 77

Financial highlights

TIAA-CREF Funds

			Selected per share data
				Gain (loss) from investment operations
	For the		Net asset	Net		Net realized and		Total gain		Less distributions from				Total		Net asset
	period or year ended		value, beginning of period	investment income (loss	)a	unrealized gain (loss) on total investments		(loss) from investment operations		Net investment income		Net realized gains		dividends and distributions		value, end of period
BOND INDEX FUND
Institutional Class:	3/31/22		$11.14	$0.21		$(0.68	)	$(0.47	)	$(0.21	)	$(0.02	)	$(0.23	)	$10.44
	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	)d	(0.26	)	10.58
Advisor Class:	3/31/22		11.14	0.20		(0.68	)	(0.48	)	(0.20	)	(0.02	)	(0.22	)	10.44
	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	)d	(0.25	)	10.59
Premier Class:	3/31/22		11.14	0.19		(0.68	)	(0.49	)	(0.19	)	(0.02	)	(0.21	)	10.44
	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	)d	(0.25	)	10.58
Retirement Class:	3/31/22		11.15	0.18		(0.68	)	(0.50	)	(0.18	)	(0.02	)	(0.20	)	10.45
	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	)d	(0.24	)	10.59
Retail Class:	3/31/22		11.15	0.18		(0.68	)	(0.50	)	(0.18	)	(0.02	)	(0.20	)	10.45
	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	)d	(0.23	)	10.59
Class W:	3/31/22		11.15	0.22		(0.69	)	(0.47	)	(0.22	)	(0.02	)	(0.24	)	10.44
	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

78 2022 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
	or year ended		Total return		end of period (in thousands		)	Gross expenses		Net expenses		Net investment income (loss)		turnover rate
BOND INDEX FUND
Institutional Class:	3/31/22		(4.32	)%		$  9,680,082		0.09	%	0.09	%	1.90	%	18	%
	3/31/21		0.46			9,712,952		0.11		0.11		2.09		29
	3/31/20		8.83			10,054,559		0.11		0.11		2.61		32
	3/31/19		4.55			6,445,380		0.11		0.11		2.75		20
	3/31/18		0.89			9,558,420		0.12		0.12		2.45		15
Advisor Class:	3/31/22		(4.41	)		14,176		0.19		0.19		1.79		18
	3/31/21		0.36			18,746		0.21		0.21		1.98		29
	3/31/20		8.73			17,005		0.22		0.22		2.48		32
	3/31/19		4.33			1,139		0.22		0.22		2.74		20
	3/31/18		0.78			282		0.20		0.20		2.30		15
Premier Class:	3/31/22		(4.46	)		25,715		0.24		0.24		1.75		18
	3/31/21		0.40			28,867		0.26		0.26		1.94		29
	3/31/20		8.58			25,927		0.27		0.27		2.46		32
	3/31/19		4.39			21,379		0.26		0.26		2.61		20
	3/31/18		0.74			33,640		0.27		0.27		2.30		15
Retirement Class:	3/31/22		(4.55	)		628,526		0.34		0.34		1.65		18
	3/31/21		0.30			613,853		0.36		0.36		1.84		29
	3/31/20		8.46			449,368		0.37		0.37		2.36		32
	3/31/19		4.29			258,787		0.36		0.36		2.53		20
	3/31/18		0.73			179,875		0.37		0.37		2.20		15
Retail Class:	3/31/22		(4.61	)		31,980		0.44		0.40		1.59		18
	3/31/21		0.24			36,033		0.42		0.42		1.78		29
	3/31/20		8.39			29,641		0.43		0.43		2.29		32
	3/31/19		4.20			21,544		0.44		0.44		2.43		20
	3/31/18		0.66			20,927		0.44		0.44		2.12		15
Class W:	3/31/22		(4.32	)		10,746,686		0.09		0.00		2.00		18
	3/31/21		0.66			9,108,797		0.11		0.00		2.19		29
	3/31/20		8.96			5,983,462		0.11		0.00		2.72		32
	3/31/19	††	4.69	b		4,605,482		0.11	c	0.00	c	2.97	c	20

See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2022 Annual Report 79

Financial highlights

TIAA-CREF Funds

			Selected per share data
				Gain (loss) from investment operations
	For the		Net asset	Net		Net realized and		Total gain		Less distributions from				Total		Net asset
	period or year ended		value, beginning of period	investment income (loss	)a	unrealized gain (loss) on total investments		(loss) from investment operations		Net investment income		Net realized gains		dividends and distributions		value, end of period
CORE BOND FUND
Institutional Class:	3/31/22		$10.65	$0.21		$(0.64	)	$(0.43	)	$(0.21	)	$(0.04	)	$(0.25	)	$9.97
	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
Advisor Class:	3/31/22		10.66	0.20		(0.64	)	(0.44	)	(0.20	)	(0.04	)	(0.24	)	9.98
	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
Premier Class:	3/31/22		10.65	0.19		(0.64	)	(0.45	)	(0.19	)	(0.04	)	(0.23	)	9.97
	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
Retirement Class:	3/31/22		10.85	0.19		(0.65	)	(0.46	)	(0.19	)	(0.04	)	(0.23	)	10.16
	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
Retail Class:	3/31/22		10.84	0.18		(0.65	)	(0.47	)	(0.18	)	(0.04	)	(0.22	)	10.15
	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
Class W:	3/31/22		10.65	0.24		(0.64	)	(0.40	)	(0.24	)	(0.04	)	(0.28	)	9.97
	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
CORE IMPACT BOND FUND
Institutional Class:	3/31/22		10.48	0.18		(0.61	)	(0.43	)	(0.18	)	(0.00	)d	(0.18	)	9.87
	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
Advisor Class:	3/31/22		10.48	0.17		(0.59	)	(0.42	)	(0.18	)	(0.00	)d	(0.18	)	9.88
	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
Premier Class:	3/31/22		10.48	0.16		(0.60	)	(0.44	)	(0.16	)	(0.00	)d	(0.16	)	9.88
	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
Retirement Class:	3/31/22		10.48	0.15		(0.59	)	(0.44	)	(0.16	)	(0.00	)d	(0.16	)	9.88
	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
Retail Class:	3/31/22		10.47	0.15		(0.60	)	(0.45	)	(0.15	)	(0.00	)d	(0.15	)	9.87
	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

80 2022 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 BOND FUND
Institutional Class:	3/31/22		(4.14	)%	$4,490,250		0.29	%	0.29	%	1.98	%	295	%f	96	%f
	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
Advisor Class:	3/31/22		(4.26	)	989,602		0.42		0.42		1.85		295	f	96	f
	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
Premier Class:	3/31/22		(4.28	)	6,596		0.44		0.44		1.81		295	f	96	f
	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
Retirement Class:	3/31/22		(4.36	)	162,596		0.54		0.54		1.71		295	f	96	f
	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
Retail Class:	3/31/22		(4.38	)	93,247		0.59		0.55		1.70		295	f	96	f
	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
Class W:	3/31/22		(3.86	)	4,672,235		0.29		0.00		2.25		295	f	96	f
	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
CORE IMPACT BOND FUND
Institutional Class:	3/31/22		(4.16	)	4,648,095		0.38		0.38		1.72		255		112
	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
Advisor Class:	3/31/22		(4.12	)	1,526,575		0.44		0.44		1.66		255		112
	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
Premier Class:	3/31/22		(4.23	)	27,068		0.58		0.55		1.53		255		112
	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
Retirement Class:	3/31/22		(4.31	)	382,704		0.63		0.63		1.45		255		112
	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
Retail Class:	3/31/22		(4.32	)	330,332		0.64		0.64		1.45		255		112
	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

See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2022 Annual Report 81

Financial highlights

TIAA-CREF Funds

			Selected per share data
					Gain (loss) from investment operations
	For the			Net asset	Net		Net realized and		Total gain		Less distributions from				Total		Net asset
	period 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 PLUS BOND FUND
Institutional Class:	3/31/22			$10.82	$0.26		$(0.64	)	$(0.38	)	$(0.26	)	$(0.15	)	$(0.41	)	$10.03
	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
Advisor Class:	3/31/22			10.83	0.26		(0.65	)	(0.39	)	(0.25	)	(0.15	)	(0.40	)	10.04
	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
Premier Class:	3/31/22			10.82	0.25		(0.65	)	(0.40	)	(0.24	)	(0.15	)	(0.39	)	10.03
	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
Retirement Class:	3/31/22			10.84	0.24		(0.66	)	(0.42	)	(0.23	)	(0.15	)	(0.38	)	10.04
	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
Retail Class:	3/31/22			10.84	0.24		(0.65	)	(0.41	)	(0.23	)	(0.15	)	(0.38	)	10.05
	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
Class W:	3/31/22			10.82	0.30		(0.65	)	(0.35	)	(0.29	)	(0.15	)	(0.44	)	10.03
	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

82 2022 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 PLUS BOND FUND
Institutional Class:	3/31/22		(3.72	)%	$1,557,970		0.30	%	0.30	%	2.45	%	251	%	97	%
	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
Advisor Class:	3/31/22		(3.79	)	162,811		0.38		0.38		2.36		251		97
	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
Premier Class:	3/31/22		(3.86	)	7,305		0.45		0.45		2.30		251		97
	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
Retirement Class:	3/31/22		(4.04	)	326,659		0.55		0.55		2.20		251		97
	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
Retail Class:	3/31/22		(3.95	)	270,848		0.61		0.56		2.19		251		97
	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
Class W:	3/31/22		(3.43	)	2,925,520		0.30		0.00		2.75		251		97
	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  ■  2022 Annual Report 83

Financial highlights

TIAA-CREF Funds

		Selected per share data
			Gain (loss) from investment operations
	For the	Net asset		Net		Net realized and		Total gain		Less distributions from				Total		Net asset
	period 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:	3/31/22	$10.90		$0.22		$(0.78	)	$(0.56	)	$(0.23	)	$(0.07	)	$(0.30	)	$10.04
	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
Advisor Class:	3/31/22	10.89		0.21		(0.79	)	(0.58	)	(0.21	)	(0.07	)	(0.28	)	10.03
	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
Retail Class:	3/31/22	10.91		0.20		(0.79	)	(0.59	)	(0.20	)	(0.07	)	(0.27	)	10.05
	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

84 2022 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:	3/31/22	(5.31	)%		$    18,226		0.33	%	0.30	%	2.09	%	9	%
	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
Advisor Class:	3/31/22	(5.42	)		683		0.43		0.40		1.97		9
	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
Retail Class:	3/31/22	(5.54	)		248,157		0.61		0.54		1.83		9
	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

See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2022 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
GREEN BOND FUND
Institutional Class:	3/31/22		$10.62		$0.24		$(0.61	)	$(0.37	)	$(0.25	)	$(0.05	)	$(0.30	)	$  9.95
	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:	3/31/22		10.62		0.24		(0.62	)	(0.38	)	(0.24	)	(0.05	)	(0.29	)	9.95
	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:	3/31/22		10.62		0.23		(0.62	)	(0.39	)	(0.23	)	(0.05	)	(0.28	)	9.95
	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:	3/31/22		10.63		0.23		(0.63	)	(0.40	)	(0.23	)	(0.05	)	(0.28	)	9.95
	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:	3/31/22		10.63		0.22		(0.63	)	(0.41	)	(0.22	)	(0.05	)	(0.27	)	9.95
	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
HIGH-YIELD FUND
Institutional Class:	3/31/22		9.53		0.45		(0.43	)	0.02		(0.44	)	—		(0.44	)	9.11
	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
Advisor Class:	3/31/22		9.52		0.43		(0.42	)	0.01		(0.43	)	—		(0.43	)	9.10
	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
Premier Class:	3/31/22		9.54		0.43		(0.42	)	0.01		(0.43	)	—		(0.43	)	9.12
	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
Retirement Class:	3/31/22		9.53		0.42		(0.42	)	0.00	d	(0.42	)	—		(0.42	)	9.11
	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
Retail Class:	3/31/22		9.57		0.42		(0.42	)	0.00	d	(0.42	)	—		(0.42	)	9.15
	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
Class W:	3/31/22		9.53		0.48		(0.42	)	0.06		(0.48	)	—		(0.48	)	9.11
	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

86 2022 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
GREEN BOND FUND
Institutional Class:	3/31/22		(3.71	)%		$      77,183	0.81	%	0.45	%	2.34	%	27	%
	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:	3/31/22		(3.73	)		3,270	0.83		0.47		2.30		27
	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:	3/31/22		(3.84	)		995	0.97		0.58		2.18		27
	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:	3/31/22		(3.93	)		15,531	1.06		0.58		2.18		27
	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:	3/31/22		(4.06	)		7,465	1.33		0.73		2.04		27
	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
HIGH-YIELD FUND
Institutional Class:	3/31/22		0.17			2,147,075	0.36		0.34		4.67		70	f
	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
Advisor Class:	3/31/22		0.05			9,760	0.47		0.46		4.54		70	f
	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
Premier Class:	3/31/22		0.02			15,798	0.51		0.49		4.54		70	f
	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
Retirement Class:	3/31/22		(0.08	)		265,385	0.61		0.59		4.43		70	f
	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
Retail Class:	3/31/22		(0.07	)		249,616	0.65		0.60		4.41		70	f
	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
Class W:	3/31/22		0.51			450,278	0.36		0.00		5.02		70	f
	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

See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2022 Annual Report 87

Financial highlights

TIAA-CREF Funds

			Selected per share data
						Gain (loss) from investment operations
	For the			Net asset		Net			Net realized and			Total gain			Less distributions from						Total			Net asset
	period			value,		investment			unrealized gain			(loss) from			Net			Net			dividends			value,
	or year			beginning		income			(loss) on total			investment			investment			realized			and			end of
	ended			of period		(loss		)a	investments			operations			income			gains			distributions			period
INFLATION-LINKED BOND FUND
Institutional Class:	3/31/22				$12.24		$0.74			$(0.28	)		$ 0.46			$(0.73	)		$(0.13	)		$(0.86	)		$11.84
	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
Advisor Class:	3/31/22				12.24		0.74			(0.29	)		0.45			(0.72	)		(0.13	)		(0.85	)		11.84
	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
Premier Class:	3/31/22				12.22		0.78			(0.34	)		0.44			(0.71	)		(0.13	)		(0.84	)		11.82
	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
Retirement Class:	3/31/22				12.34		0.73			(0.30	)		0.43			(0.70	)		(0.13	)		(0.83	)		11.94
	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
Retail Class:	3/31/22				11.92		0.70			(0.28	)		0.42			(0.70	)		(0.13	)		(0.83	)		11.51
	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
Class W:	3/31/22				12.24		0.78			(0.29	)		0.49			(0.76	)		(0.13	)		(0.89	)		11.84
	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
SHORT DURATION IMPACT BOND FUND
Institutional Class:	3/31/22				10.25		0.15			(0.38	)		(0.23	)		(0.15	)		(0.05	)		(0.20	)		9.82
	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:	3/31/22				10.25		0.15			(0.38	)		(0.23	)		(0.15	)		(0.05	)		(0.20	)		9.82
	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:	3/31/22				10.25		0.14			(0.38	)		(0.24	)		(0.14	)		(0.05	)		(0.19	)		9.82
	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:	3/31/22				10.25		0.13			(0.38	)		(0.25	)		(0.13	)		(0.05	)		(0.18	)		9.82
	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:	3/31/22				10.25		0.13			(0.38	)		(0.25	)		(0.13	)		(0.05	)		(0.18	)		9.82
	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

88 2022 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					end of period			Gross			Net			Net investment			turnover
	ended		Total return			(in thousands		)	expenses			expenses			income (loss		)	rate
INFLATION-LINKED BOND FUND
Institutional Class:	3/31/22			3.76	%		$   866,667			0.25	%		0.23	%		6.00	%		21	%f
	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
Advisor Class:	3/31/22			3.58			159,518			0.35			0.33			6.00			21	f
	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
Premier Class:	3/31/22			3.61			2,627			0.40			0.38			6.25			21	f
	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
Retirement Class:	3/31/22			3.47			172,924			0.50			0.48			5.86			21	f
	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
Retail Class:	3/31/22			3.48			157,227			0.57			0.52			5.81			21	f
	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
Class W:	3/31/22			4.00			1,908,794			0.25			0.00			6.31			21	f
	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
SHORT DURATION IMPACT BOND FUND
Institutional Class:	3/31/22			(2.29	)		24,494			0.96			0.35			1.50			76
	3/31/21			6.92			23,952			1.06			0.35			1.99			136
	3/31/20			1.08			22,112			1.18			0.35			2.77			103
	3/31/19	§		1.99	b		22,599			2.89	c		0.35	c		3.17	c		39	b
Advisor Class:	3/31/22			(2.32	)		4,866			1.01			0.39			1.47			76
	3/31/21			6.92			1,077			1.06			0.35			1.99			136
	3/31/20			1.07			986			1.18			0.35			2.77			103
	3/31/19	§		1.93	b		1,008			3.27	c		0.50	c		3.01	c		39	b
Premier Class:	3/31/22			(2.44	)		982			1.12			0.50			1.35			76
	3/31/21			6.76			1,025			1.21			0.50			1.84			136
	3/31/20			0.93			986			1.34			0.50			2.62			103
	3/31/19	§		1.93	b		1,008			3.42	c		0.50	c		3.01	c		39	b
Retirement Class:	3/31/22			(2.51	)		5,683			1.22			0.57			1.28			76
	3/31/21			6.66			4,737			1.31			0.60			1.72			136
	3/31/20			0.83			3,260			1.43			0.60			2.51			103
	3/31/19	§		1.90	b		1,095			3.50	c		0.60	c		2.91	c		39	b
Retail Class:	3/31/22			(2.54	)		2,232			1.89			0.60			1.24			76
	3/31/21			6.67			2,207			1.40			0.59			1.71			136
	3/31/20			0.74			1,233			1.61			0.68			2.44			103
	3/31/19	§		1.87	b		1,118			3.85	c		0.68	c		2.84	c		39	b

See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2022 Annual Report 89

Financial highlights

TIAA-CREF Funds

			Selected per share data
					Gain (loss) from investment operations
	For the		Net asset		Net			Net realized and			Total gain			Less distributions from						Total			Net asset
	period		value,		investment			unrealized gain			(loss) from			Net			Net			dividends			value,
	or year		beginning		income			(loss) on total			investment			investment			realized			and			end of
	ended		of period		(loss		)a	investments			operations			income			gains			distributions			period
SHORT-TERM BOND FUND
Institutional Class:	3/31/22			$10.47		$0.16			$(0.34	)		$(0.18	)		$(0.16	)		$(0.01	)		$(0.17	)		$10.12
	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
Advisor Class:	3/31/22			10.46		0.15			(0.33	)		(0.18	)		(0.15	)		(0.01	)		(0.16	)		10.12
	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
Premier Class:	3/31/22			10.48		0.15			(0.34	)		(0.19	)		(0.15	)		(0.01	)		(0.16	)		10.13
	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
Retirement Class:	3/31/22			10.48		0.14			(0.34	)		(0.20	)		(0.14	)		(0.01	)		(0.15	)		10.13
	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
Retail Class:	3/31/22			10.47		0.13			(0.33	)		(0.20	)		(0.13	)		(0.01	)		(0.14	)		10.13
	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
Class W:	3/31/22			10.46		0.19			(0.33	)		(0.14	)		(0.19	)		(0.01	)		(0.20	)		10.12
	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

90 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds See notes to financial statements

continued

						Ratios and supplemental data
																					Portfolio
	For the																				turnover rate
	period					Net assets at			Ratios to average net assets									Portfolio			excluding
	or year					end of period			Gross			Net			Net investment			turnover			mortgage
	ended		Total return			(in thousands		)	expenses			expenses			income (loss		)	rate			dollar rolls
SHORT-TERM BOND FUND
Institutional Class:	3/31/22			(1.70	)%		$   523,478			0.26	%		0.26	%		1.56	%		104	%		104	%
	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
Advisor Class:	3/31/22			(1.70	)		235,228			0.35			0.35			1.48			104			104
	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
Premier Class:	3/31/22			(1.85	)		3,733			0.42			0.42			1.42			104			104
	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
Retirement Class:	3/31/22			(1.95	)		118,117			0.51			0.51			1.31			104			104
	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
Retail Class:	3/31/22			(1.88	)		143,840			0.57			0.54			1.28			104			104
	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
Class W:	3/31/22			(1.35	)		972,321			0.26			0.00			1.83			104			104
	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  ■  2022 Annual Report 91

Financial highlights

TIAA-CREF Funds

			Selected per share data
					Gain (loss) from investment operations
	For the		Net asset		Net			Net realized and			Total gain			Less distributions from						Total			Net asset
	period		value,		investment			unrealized gain			(loss) from			Net			Net			dividends			value,
	or year		beginning		income			(loss) on total			investment			investment			realized			and			end of
	ended		of period		(loss		)a	investments			operations			income			gains			distributions			period
SHORT-TERM BOND INDEX FUND
Institutional Class:	3/31/22			$10.11		$0.05			$(0.35	)		$(0.30	)		$(0.05	)		$(0.04	)		$(0.09	)		$  9.72
	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
Advisor Class:	3/31/22			10.11		0.04			(0.36	)		(0.32	)		(0.04	)		(0.04	)		(0.08	)		9.71
	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
Premier Class:	3/31/22			10.10		0.04			(0.35	)		(0.31	)		(0.04	)		(0.04	)		(0.08	)		9.71
	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
Retirement Class:	3/31/22			10.11		0.03			(0.36	)		(0.33	)		(0.03	)		(0.04	)		(0.07	)		9.71
	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
Retail Class:	3/31/22			10.11		0.02			(0.36	)		(0.34	)		(0.02	)		(0.04	)		(0.06	)		9.71
	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
Class W:	3/31/22			10.11		0.06			(0.35	)		(0.29	)		(0.06	)		(0.04	)		(0.10	)		9.72
	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

92 2022 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					end of period			Gross			Net			Net investment			turnover
	ended		Total return			(in thousands		)	expenses			expenses			income (loss		)	rate
SHORT-TERM BOND INDEX FUND
Institutional Class:	3/31/22			(2.94	)%		$  77,863			0.10	%		0.10	%		0.54	%		49	%
	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
Advisor Class:	3/31/22			(3.16	)		789			0.22			0.22			0.43			49
	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
Premier Class:	3/31/22			(3.10	)		659			0.26			0.26			0.38			49
	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
Retirement Class:	3/31/22			(3.18	)		309,263			0.35			0.35			0.29			49
	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
Retail Class:	3/31/22			(3.35	)		2,831			0.83			0.46			0.18			49
	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
Class W:	3/31/22			(2.85	)		970,293			0.10			0.00			0.64			49
	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

See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2022 Annual Report 93

Financial highlights

TIAA-CREF Funds

			Selected per share data
					Gain (loss) from investment operations
	For the		Net asset		Net			Net realized and		Total gain			Less distributions from					Total			Net asset
	period		value,		investment			unrealized gain		(loss) from			Net			Net		dividends			value,
	or year		beginning		income			(loss) on total		investment			investment			realized		and			end of
	ended		of period		(loss		)a	investments		operations			income			gains		distributions			period
MONEY MARKET FUND
Institutional Class:		3/31/22		$1.00		$    —			$   —		$    —			$     —			$   —		$     —			$1.00
		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
Advisor Class:		3/31/22		1.00		—			—		—			—			—		—			1.00
		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
Premier Class:		3/31/22		1.00		—			—		—			—			—		—			1.00
		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
Retirement Class:		3/31/22		1.00		—			—		—			—			—		—			1.00
		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
Retail Class:		3/31/22		1.00		—			—		—			—			—		—			1.00
		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

§	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.

94 2022 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
	or year				end of period			Gross			Net			Net investment
	ended	Total return			(in thousands		)	expenses			expenses			income (loss		)
MONEY MARKET FUND
Institutional Class:	3/31/22		0.00	%		$   886,508			0.13	%		0.07	%		0.00	%
	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
Advisor Class:	3/31/22		0.00			967			0.17			0.07			0.00
	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
Premier Class:	3/31/22		0.00			27,746			0.27			0.07			0.00
	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
Retirement Class:	3/31/22		0.00			246,142			0.38			0.07			0.00
	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
Retail Class:	3/31/22		0.00			289,028			0.48			0.07			0.00
	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

See notes to financial statements TIAA-CREF Funds: Fixed-Income Funds  ■  2022 Annual Report 95

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”).

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

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

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

Note 2—significant accounting policies

The accompanying financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”), which may require the use of estimates made by management and the evaluation of subsequent events. Actual results may differ from those estimates. The Funds are investment companies and follow the accounting guidance in the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification 946, Financial Services–Investment Companies. The net asset value (“NAV”) for financial reporting purposes may differ from the NAV for processing transactions. The NAV for financial reporting purposes includes security and shareholder transactions through the date of the report. Total return is computed based on the NAV used for processing transactions. The following is a summary of the significant accounting policies consistently followed by the Funds.

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

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

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

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

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

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

96 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

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

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

New accounting pronouncements: In March 2020, FASB issued 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 is 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.

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 quotations 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 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.

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

TIAA-CREF Funds: Fixed-Income Funds  ■  2022 Annual Report 97

Notes to financial statements

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, 2022, 100% of the value of investments in the Money Market Fund was valued based on Level 2 inputs.

The following table summarizes the market value of the Funds’ investments as of March 31, 2022, based on the inputs used to value them:

Fund	Level 1		Level 2		Level 3		Total
Bond Index
Corporate bonds	$	—	$	5,335,014,060	$	—	$	5,335,014,060
Government bonds		—		15,167,794,803		—		15,167,794,803
Structured assets		—		517,870,130		—		517,870,130
Short-term investments		64,739,600		336,773,922		—		401,513,522
Total	$	64,739,600	$	21,357,452,915	$	—	$	21,422,192,515
Core Bond
Bank loan obligations	$	—	$	187,871,150	$	502,806	$	188,373,956
Corporate bonds		—		3,956,174,799		8,535,078		3,964,709,877
Government bonds		—		4,449,611,745		8,638,877		4,458,250,622
Structured assets		—		1,514,349,657		8,516,202		1,522,865,859
Common stocks		—		739,483		—		739,483
Preferred stocks		10,658,000		—		—		10,658,000
Short-term investments		424,299,963		1,492,850,770		—		1,917,150,733
Futures contracts**		704,232		—		—		704,232
Total	$	435,662,195	$	11,601,597,604	$	26,192,963	$	12,063,452,762
Core Impact Bond
Bank loan obligations	$	—	$	23,009,384	$	201,868	$	23,211,252
Corporate bonds		—		2,855,881,124		—		2,855,881,124
Government bonds		—		3,004,798,474		2,008,487		3,006,806,961
Structured assets		—		821,859,916		8,357,460		830,217,376
Preferred stocks		50,105,580		—		—		50,105,580
Short-term investments		78,113,139		905,809,387		—		983,922,526
Total	$	128,218,719	$	7,611,358,285	$	10,567,815	$	7,750,144,819
Core Plus Bond
Bank loan obligations	$	—	$	153,124,054	$	335,204	$	153,459,258
Corporate bonds		—		2,084,793,506		5,821,971		2,090,615,477
Government bonds		—		1,836,335,342		5,320,718		1,841,656,060
Structured assets		—		944,629,282		7,945,034		952,574,316
Common stocks		—		856,555		15		856,570
Preferred stocks		9,461,357		—		—		9,461,357
Short-term investments		119,034,091		649,647,160		—		768,681,251
Futures contracts**		700,276		—		—		700,276
Total	$	129,195,724	$	5,669,385,899	$	19,422,942	$	5,818,004,565

98 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

continued

Fund	Level 1		Level 2		Level 3		Total
5–15 Year Laddered Tax-Exempt Bond
Long-term Municipal Bonds	$	—	$	261,082,933	$	408,949	$	261,491,882
Total	$	—	$	261,082,933	$	408,949	$	261,491,882
Green Bond
Bank loan obligations	$	—	$	969,889	$	—	$	969,889
Corporate bonds		—		57,715,151		—		57,715,151
Government bonds		—		17,412,350		—		17,412,350
Structured assets		—		20,908,494		208,247		21,116,741
Preferred stocks		1,190,360		—		—		1,190,360
Short-term investments		259,024		9,530,000		—		9,789,024
Total	$	1,449,384	$	106,535,884	$	208,247	$	108,193,515
High-Yield
Bank loan obligations	$	—	$	252,944,227	$	—	$	252,944,227
Corporate bonds		—		2,682,295,063		1,166,994		2,683,462,057
Common stocks		—		—		79		79
Rights / Warrants		—		2,958,165		—		2,958,165
Short-term investments		41,688,554		186,294,789		—		227,983,343
Total	$	41,688,554	$	3,124,492,244	$	1,167,073	$	3,167,347,871
Inflation-Linked Bond
Corporate bonds	$	—	$	5,023,250	$	—	$	5,023,250
Government bonds		—		3,227,700,599		—		3,227,700,599
Short-term investments		4,212,962		14,760,000		—		18,972,962
Futures contracts**		328,739		—		—		328,739
Total	$	4,541,701	$	3,247,483,849	$	—	$	3,252,025,550
Short Duration Impact Bond
Bank loan obligations	$	—	$	969,889	$	—	$	969,889
Corporate bonds		—		14,089,266		—		14,089,266
Government bonds		—		13,017,711		—		13,017,711
Structured assets		—		9,193,103		—		9,193,103
Short-term investments		647,468		1,300,000		—		1,947,468
Total	$	647,468	$	38,569,969	$	—	$	39,217,437
Short-Term Bond
Bank loan obligations	$	—	$	41,107,395	$	—	$	41,107,395
Corporate bonds		—		673,759,524		—		673,759,524
Government bonds		—		687,436,589		—		687,436,589
Structured assets		—		532,758,200		—		532,758,200
Short-term investments		18,922,258		57,978,093		—		76,900,351
Futures contracts**		3,350,311		—		—		3,350,311
Total	$	22,272,569	$	1,993,039,801	$	—	$	2,015,312,370
Short-Term Bond Index
Corporate bonds	$	—	$	316,074,581	$	—	$	316,074,581
Government bonds		—		1,041,925,091		—		1,041,925,091
Structured assets		—		200,170		—		200,170
Short-term investments		32,588,993		21,149,111		—		53,738,104
Total	$	32,588,993	$	1,379,348,953	$	—	$	1,411,937,946

** 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.

Repurchase agreements: In connection with transactions in repurchase agreements, it is the Fund’s policy that its custodian take possession of the underlying collateral securities, the fair value of which exceeds the principal amount of the repurchase

transaction, including accrued interest, at all times. If the counterparty defaults, and the fair value of the collateral declines, realization of the collateral may be delayed or limited.

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

Securities 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

TIAA-CREF Funds: Fixed-Income Funds  ■  2022 Annual Report 99

Notes to financial statements

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 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, 2022, securities lending transactions are for fixed income securities, and the resulting loans are continuous, can be recalled at any time, and have no set maturity. 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, 2022, 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	$	66,483,156	$	64,739,600	$	3,399,524	$	68,139,124
Core Bond		417,608,736		424,299,963		2,379,597		426,679,560
Core Impact Bond		76,462,696		78,113,139		—		78,113,139
Core Plus Bond		117,248,148		119,034,091		1,183,373		120,217,464
Green Bond		255,487		259,024		—		259,024
High-Yield		50,045,221		41,688,554		9,435,509		51,124,063
Inflation-Linked Bond		4,139,733		4,212,962		—		4,212,962
Short Duration Impact Bond		635,863		647,468		—		647,468
Short-Term Bond		23,903,262		18,922,258		5,521,537		24,443,795
Short-Term Bond Index		31,896,663		32,588,993		—		32,588,993

* 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, 2022 were as follows:

Fund	Non-U.S. government purchases		U.S. government purchases		Non-U.S. government sales		U.S. government sales
Bond Index	$	1,739,682,834	$	6,820,253,606	$	1,143,622,667	$	2,688,174,319
Core Bond		3,583,393,242		28,116,251,852		2,197,507,241		26,781,489,732
Core Impact Bond		2,553,382,553		16,071,391,392		1,608,446,875		15,737,898,073
Core Plus Bond		1,523,177,224		12,540,660,339		1,412,747,845		12,359,862,337
5–15 Year Laddered Tax-Exempt Bond		39,317,774		—		25,541,873		—
Green Bond		67,879,406		3,085,714		13,229,213		2,841,413
High-Yield		2,463,894,965		—		2,960,200,249		—
Inflation-Linked Bond		5,000,000		970,362,163		3,929,500		1,236,467,643
Short Duration Impact Bond		22,327,433		12,451,176		13,001,375		13,068,177
Short-Term Bond		627,799,897		1,571,498,298		489,271,842		1,601,799,845
Short-Term Bond Index		249,444,613		711,002,673		164,236,210		447,792,504

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.

100 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

continued

At March 31, 2022, the following Funds have invested in derivative contracts which are reflected in the Statements of assets and liabilities as follows:

	Asset derivatives
Derivative contract	Location	Fair value amount
Core Bond Fund
Interest-rate contracts	Futures contracts*		$  704,232
Core Plus Bond Fund
Interest-rate contracts	Futures contracts*		700,276
Inflation-Linked Bond Fund
Interest-rate contracts	Futures contracts*		328,739
Short-Term Bond Fund
Interest-rate contracts	Futures contracts*		3,350,311

* The fair value presented includes cumulative gain (loss) on open futures 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 contracts.

For the year ended March 31, 2022, 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	$	—		$	704,232
Foreign-exchange contracts	Forward foreign currency contracts		302,718			(94,277	)
Credit contracts	Swap contracts		1,475,868			189,569
Core Impact Bond Fund
Foreign-exchange contracts	Forward foreign currency contracts		1,447,049			(506,034	)
Core Plus Bond Fund
Interest-rate contracts	Futures contracts		—			700,276
Foreign-exchange contracts	Forward foreign currency contracts		226,982			(70,707	)
Credit contracts	Swap contracts		(2,530,226	)		879,095
High-Yield Fund
Interest-rate contracts	Futures contracts		(139	)		—
Credit contracts	Swap contracts		(955,984	)		—
Inflation-Linked Bond Fund
Interest-rate contracts	Futures contracts		94,971			(22,333	)
Short-Term Bond Fund
Interest-rate contracts	Futures contracts		4,846,217			1,543,801

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, 2022, the Core Bond Fund, Core Plus Bond Fund, Inflation-Linked Bond Fund and the Short-Term Bond Fund had exposure to futures contracts, based on underlying notional values, generally between 0% and 7% of net assets. The futures contracts outstanding as of March 31, 2022 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, 2022, 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. As of March 31, 2022 there are no forwards outstanding.

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

TIAA-CREF Funds: Fixed-Income Funds  ■  2022 Annual Report 101

Notes to financial statements

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, 2022, 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. As of March 31, 2022 there are no credit default swaps outstanding.

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, 2022, permanent book and tax differences resulting primarily from differing treatments for foreign currency transactions, distribution reallocations, the utilization of tax equalization credits, 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.

Net unrealized appreciation (depreciation): At March 31, 2022, 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:

Fund	Tax cost		Gross unrealized appreciation		Gross unrealized (depreciation		)	Net unrealized appreciation (depreciation		)
Bond Index		$22,329,520,897		$160,307,533		$(1,067,635,915	)		$(907,328,382	)
Core Bond		12,528,733,641		51,080,950		(516,361,829	)		(465,280,879	)
Core Impact Bond		8,084,372,013		25,261,183		(359,488,377	)		(334,227,194	)
Core Plus Bond		6,050,653,295		24,666,832		(257,315,562	)		(232,648,730	)
5–15 Year Laddered Tax-Exempt Bond		270,706,524		3,426,134		(12,640,776	)		(9,214,642	)
Green Bond		111,824,459		468,101		(4,099,045	)		(3,630,944	)
High-Yield		3,287,488,030		21,471,683		(141,611,842	)		(120,140,159	)
Inflation-Linked Bond		3,126,303,793		147,827,519		(22,105,762	)		125,721,757
Short Duration Impact Bond		40,060,642		56,572		(899,777	)		(843,205	)
Short-Term Bond		2,067,305,269		2,662,296		(54,655,195	)		(51,992,899	)
Short-Term Bond Index		1,454,671,968		104,625		(42,838,647	)		(42,734,022	)

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.

102 2022 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, 2022 and March 31, 2021 was as follows:

	3/31/2022			3/31/2021
Fund	Ordinary income	Long-term capital gains	Total	Ordinary income	Long-term capital gains	Total
Bond Index	$408,439,795	$37,107,742	$445,547,537	$419,556,131	$100,895,056	$520,451,187
Core Bond	212,679,678	42,940,921	255,620,599	233,661,988	89,759,845	323,421,833
Core Impact Bond	116,895,121	1,079,447	117,974,568	178,604,823	74,943,246	253,548,069
Core Plus Bond	153,740,367	68,613,099	222,353,466	155,318,760	27,847,508	183,166,268
5–15 Year Laddered Tax-Exempt Bond*	5,952,090	1,319,307	7,271,397	5,473,935	836,536	6,310,471
Green Bond	1,322,837	250,001	1,572,838	1,185,576	561,798	1,747,374
High-Yield	166,091,344	—	166,091,344	194,600,276	—	194,600,276
Inflation-Linked Bond	215,298,691	39,328,799	254,627,490	49,129,669	—	49,129,669
Short Duration Impact Bond	558,078	123,385	681,463	821,666	45,126	866,792
Short-Term Bond	35,704,185	513,821	36,218,006	36,171,093	—	36,171,093
Short-Term Bond Index	7,182,814	5,109,870	12,292,684	11,299,288	2,198,903	13,498,191
Money Market	—	—	—	1,478,097	—	1,478,097

* Includes ordinary income which will not be taxable for federal income tax purposes in 2022 and 2021 of $5,295,964 and $5,363,478 respectively.

Components of accumulated earnings: As of March 31, 2022, the components of accumulated earnings on a tax basis were as follows:

Fund	Undistributed (overdistributed ordinary income	)	Undistributed (overdistributed long-term capital gains	)	Unrealized appreciation (depreciation	)	Capital loss carryover		Late-year loss deferrals		Total
Bond Index	$17,141,736		$10,050,572		$(907,328,382	)	$       —		$       —		$(880,136,074	)
Core Bond	5,394,154		—		(465,306,072	)	—		(116,330,187	)	(576,242,105	)
Core Impact Bond	2,347,859		—		(334,222,592	)	—		(79,025,637	)	(410,900,370	)
Core Plus Bond	4,306,625		—		(232,657,110	)	—		(46,240,763	)	(274,591,248	)
5–15 Year Laddered Tax-Exempt Bond	74,800		217,586		(9,214,642	)	—		—		(8,922,256	)
Green Bond	63,291		86,018		(3,630,944	)	—		—		(3,481,635	)
High-Yield	3,468,590		—		(120,140,159	)	(203,675,711	)	—		(320,347,280	)
Inflation-Linked Bond	17,101,378		16,112,005		125,721,757		—		—		158,935,140
Short Duration Impact Bond	24,949		—		(843,205	)	(41,981	)	—		(860,237	)
Short-Term Bond	1,998,736		2,058,552		(51,992,899	)	—		—		(47,935,611	)
Short-Term Bond Index	568,066		—		(42,734,021	)	—		(547,194	)	(42,713,149	)
Money Market	1,683		—		—		—		—		1,683

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.

In certain circumstances, a fund may accept portfolio securities rather than cash as payment for a purchase of fund shares (in-kind purchase). For the year ended March 31, 2022, the Core Bond Fund received $745,850,572 of securities from in-kind purchase transactions. The High-Yield Fund received $99,710,817 of securities from in-kind purchase transactions. The Inflation-Linked Bond Fund received $244,032,469 of securities from in-kind purchase transactions.

Capital loss carryovers: At March 31, 2022, the following Funds had capital loss carryovers, which will not expire:

Fund	Short-term	Long-term	Total
High-Yield Bond	$34,464,300	$169,211,411	$203,675,711
Short Duration Impact Bond	41,981	—	41,981

For the year ended March 31, 2022, High-Yield Fund utilized $86,967,753 of its capital loss carryover available.

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

TIAA-CREF Funds: Fixed-Income Funds  ■  2022 Annual Report 103

Notes to financial statements

shareholder services to the Premier Class of the Fund at the annual rate of 0.15% of the average daily net assets attributable to the Fund’s Premier Class.

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

Advisors and its affiliates have voluntarily agreed to waive the Money Market Fund fees in order to keep the Fund’s yield non-negative.

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, 2022, the investment management fee, service agreement fee, distribution fee and maximum expense amounts (after waivers and reimbursements) are equal to the following noted annual percentage of average daily net assets for each class:

	Investment management fee range		Investment management fee—effective rate		Service agreement fee		Distribution fee				Maximum expense amounts‡
Fund					Retirement Class		Premier Class		Retail Class		Institutional Class		Advisor Class		Premier Class		Retirement Class		Retail Class		Class W§
Bond Index	0.07	%f	0.08	%	0.25	%	0.15	%	0.25	%	0.10	%h	0.25	%h	0.25	%h	0.35	%h	0.45	%h	0.10	%h
Core Bond*	0.25–0.30		0.27		0.25		0.15		0.25		0.35		0.50		0.50		0.60		0.70		0.35
Core Impact Bond*	0.30–0.35		0.33		0.25		0.15		0.25		0.40		0.55		0.55		0.65		0.75		—
Core Plus Bond*	0.25–0.30		0.28		0.25		0.15		0.25		0.35		0.50		0.50		0.60		0.70		0.35
5–15 Year Laddered Tax-Exempt Bond*	0.20–0.25		0.25		—		—		0.25		0.30		0.45		—		—		0.65		—
Green Bond*	0.35–0.40		0.40		0.25		0.15		0.25		0.45		0.60		0.60	a	0.70	a	0.80	a	—
High-Yield*	0.30–0.35		0.34		0.25		0.15		0.25		0.40	b	0.55	b	0.55	b	0.65	b	0.75	b	0.40	b
Inflation-Linked Bond*	0.20–0.25		0.24		0.25		0.15		0.25		0.30	c	0.45	c	0.45	c	0.55	c	0.65	c	0.30	c
Short Duration Impact Bond*	0.25–0.30		0.30		0.25		0.15		0.25		0.35	d	0.50		0.50		0.60	d	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	0.06	g	0.06		0.25		0.15		0.25		0.11	i	0.26	i	0.26	i	0.36	i	0.46	i	0.11	i
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, 2022. 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, 2021, Advisors agreed to voluntarily waive a portion of the expense cap for the Green Bond Fund Premier, Retirement and Retial Classes. The expense caps are 0.585% for the Premier Class, 0.585% for the Retirement Class and 0.725% 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, 2021, 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, 2021, 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 0.280% for the Institutional Class, 0.430% for the Advisor Class, 0.430% for the Premier Class, 0.530% for the Retirement Class, 0.630% for the Retail Class and 0.280% 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, 2021, Advisors agreed to voluntarily waive a portion of the expense cap for the Short Duration Impact Bond Fund Institutional, Retirement and Retail Classes. The expense caps are 0.345% for the Institutional Class, 0.570% for the Retirement Class, and 0.605% 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, 2021, 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 0.240% for the Premier, 0.240% for the Retirement Class, and 0.395% 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	Prior to August 1, 2021 the Investment management fee range was 0.10%.
g	Prior to August 1, 2021 the Investment management fee range was 0.07%.
h	Prior to August 1, 2021, the expense caps were 0.130% for the Institutional Class, 0.280% for the Advisor Class, 0.280% for the Premier Class, 0.380% for the Retirement Class, 0.480% for the Retail Class and 0.130% for the Class W Class.
i	Prior to August 1, 2021, the expense caps were 0.120% for the Institutional Class, 0.270% for the Advisor Class, 0.270% for the Premier Class, 0.370% for the Retirement Class, 0.470% for the Retail Class and 0.120% for the Class W Class.

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, 2022, the Funds did not engage in security transactions with affiliated entities.

104 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

concluded

As of March 31, 2022, 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, 2022:

Underlying Fund	TIAA		TIAA-CREF Lifecycle Funds		TIAA-CREF Lifecycle Index Funds		TIAA-CREF Lifestyle Funds		TIAA-CREF Managed Allocation Fund		TIAA Access		Total
Bond Index	—	%	—	%	49	%	—	%	—	%	1	%	50	%
Core Bond	—		45		—		1		—		—		46
Core Plus Bond	—		56		—		8		7		2		73
Green Bond	24		—		—		—		—		—		24
High-Yield	—		14		—		—		—		5		19
Inflation-Linked Bond	—		29		28		—		—		—		57
Short Duration Impact Bond	64		—		—		—		—		—		64
Short-Term Bond	—		49		—		6		—		3		58
Short-Term Bond Index	—		—		69		—		—		—		69
Money Market	—		—		—		—		—		3		3

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, 2022, 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 15, 2021 expiring on June 14, 2022, replacing the previous facility, which expired June 2021. 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, 2022, 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, 2022. 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:

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

Also, Advisors has agreed to implement voluntary waivers reducing the expense cap for several Funds for one year effective May 1, 2022. 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:

Fund	Waiver		Maximum expense amounts
Green Bond – Premier Class	0.020	%	0.580	%
Green Bond – Retirement Class	0.120		0.580
Green Bond – Retail Class	0.085		0.715
Green Bond – Institutional Class	0.040		0.410
Short Duration Impact Bond – Institutional Class	0.010		0.340
Short Duration Impact Bond – Retail Class	0.100		0.600
Money Market – Premier Class	0.060		0.240
Money Market – Retirement Class	0.160		0.240
Money Market – Retail Class	0.085		0.415

TIAA-CREF Funds: Fixed-Income Funds  ■  2022 Annual Report 105

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, 2022, the related statements of operations for the year ended March 31, 2022, the statements of changes in net assets for each of the two years in the period ended March 31, 2022, 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, 2022, 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, 2022, 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.

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, 2022 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 26, 2022

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

106 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

Important tax information (unaudited)

For the period ended March 31, 2022, the TIAA-CREF Funds designate the following distribution amounts (or the maximum amount allowable) as being from net long-term capital gains.

Fund	Long-term capital gains
Bond Index	$37,107,742
Core Bond	42,940,921
Core Impact Bond	1,079,447
Core Plus Bond	68,613,099
5–15 Year Laddered Tax-Exempt Bond	1,319,307
High-Yield	—
Green Bond	250,001
Inflation-Linked Bond	50,440,948
Short Duration Impact Bond	123,385
Short-Term Bond	513,821
Short-Term Bond Index	5,109,870
Money Market	—

The 5–15 Year Laddered Tax-Exempt Bond Fund paid distributions to shareholders during the year ended March 31, 2022 and the year ended March 31, 2021, totaling $7,271,397 and $6,310,471, of which $5,295,964 and $5,363,478, 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	97.2	%
Core Bond	90.0
Core Impact Bond	80.8
Core Plus Bond	86.1
Green Bond	78.0
High-Yield	100.0
Inflation-Linked Bond	86.2
Short Duration Impact Bond	86.5
Short-Term Bond	89.5
Short-Term Bond Index	100.0
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 capitals gain dividends as defined in Internal Revenue Code Section 871(k) for the taxable periods ending December 31, 2021 and March 31, 2022.

Fund	4/1/2021– 12/31/2021		1/1/2022– 3/31/2022
Bond Index	88.4	%	94.9	%
Core Bond	68.4		88.2
Core Impact Bond	69.2		80.7
Core Plus Bond	68.2		81.7
Green Bond	65.6		79.8
High-Yield	77.7		76.3
Inflation–Linked Bond	83.8		100.0
Short Duration Impact Bond	72.1		77.2
Short-Term Bond	65.3		76.1
Short-Term Bond Index	85.3		71.4
Money Market	—		—

The information and distributions reported herein may differ from the information and distributions reported to shareholders for the calendar year ending December 31, 2022, which will be reported in conjunction with your 2022 Form 1099-DIV.

By early 2023, 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 adviser.

TIAA-CREF Funds: Fixed-Income Funds  ■  2022 Annual Report 107

Trustees and officers (unaudited)

TIAA-CREF Funds  ■  March 31, 2022

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 and other relevant experience and qualifications	Number of Portfolios in Fund Complex Overseen by Trustee	Other Directorship(s) and positions 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, Johnson & Johnson (2002–2006). Manager, Financial Services Consultant, KPMG Consulting (2000–2002).	88	Board member, Lumina Foundation and Waterside School; Emeritus Board Member, Year-Up Puget Sound; Investment Advisory Committee Member, 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). Vice President, American Economic Association (2020–2021). 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;
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 Adviser 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, Build 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; Member, Congressional Budget Office Panel of Economic Advisers.

108 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

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 and other relevant experience and qualifications	Number of Portfolios in Fund Complex Overseen by Trustee	Other Directorship(s) and positions 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.

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 Teachers Insurance and Annuity Association of America (“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.
John L. Douglas TIAA 730 Third Avenue New York, NY 10017-3206 YOB: 1950	Executive Vice President, Chief Legal, Risk and Compliance Officer	One-year term. Executive Vice President since 2021 and Chief Legal, Risk and Compliance Officer since 2022.	Senior Executive Vice President, Chief Legal, Risk and Compliance Officer of TIAA, Executive Vice President, Chief Legal, Risk and Compliance Officer of the TIAA-CREF Fund Complex. Formerly, Senior Executive Vice President, Senior Advisor to the CEO, and Senior Executive Vice President, Chief Advocacy & Oversight Officer, TIAA. Prior to joining TIAA, Mr. Douglas was a partner at Davis Polk & Wardwell LLP.
W. Dave Dowrich TIAA 730 Third Avenue New York, NY 10017-3206 YOB: 1967	Executive Vice President	One-year term. Executive Vice President since 2022.	Senior Executive Vice President and Chief Financial Officer of TIAA. Executive Vice President of the TIAA-CREF Fund Complex. Prior to joining TIAA, Mr. Dowrich served as Chief Financial Officer, International Businesses at Prudential Financial, Inc.
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.	Executive Vice President, Chief Administrative Officer of the Chief Operating Office, TIAA. Principal Executive Officer and President of the TIAA-CREF Funds and TIAA-CREF Life Funds. Formerly, Executive Vice President, Chief Operating Officer, Nuveen; President and Chief Executive Officer of CREF and TIAA Separate Account VA-1; 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.
Colbert Narcisse TIAA 730 Third Avenue New York, NY 10017-3206 YOB: 1965	Executive Vice President	One-year term. Executive Vice President since 2022.	Senior Executive Vice President, Chief Product and Business Development Officer of TIAA. President and Chief Executive Officer of CREF and TIAA Separate Account VA-1. Executive Vice President of TIAA-CREF Funds and TIAA-CREF Life Funds. Formerly, Executive Vice President and Head of Advisory and Corporate Solutions, TIAA. Prior to joining TIAA, Mr. Narcisse served as Managing Director and Head of International Wealth Management and Head of Traditional and Alternative Investment Products at Morgan Stanley.

TIAA-CREF Funds: Fixed-Income Funds  ■  2022 Annual Report 109

Trustees and officers(unaudited) concluded

TIAA-CREF Funds  ■  March 31, 2022

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
David G. Nason TIAA 730 Third Avenue New York, NY 10017-3206 YOB: 1970	Executive Vice President	One-year term. Executive Vice President since 2020.	Senior Executive Vice President, Chief Operating Officer of TIAA. Executive Vice President of the TIAA-CREF Fund Complex. Formerly, Senior Executive Vice President, Chief Legal, Risk and Compliance Officer, TIAA. 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.
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 People 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.

110 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

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.

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 and extended 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 virtual meeting via videoconference on March 11, 2022, 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 public health protocols 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 as the base class for comparison purposes.

Among other matters, the Board also considered information from Advisors to facilitate the Trustees’ evaluation of the reasonableness of any profits earned by Advisors with respect to its services to each Fund pursuant to the Agreement.

Legal counsel for the Trustees also 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 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

TIAA-CREF Funds: Fixed-Income Funds  ■  2022 Annual Report 111

Approval of investment management agreement (unaudited)

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 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 the 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. In addition, the Board received information from management on the continued impact of the COVID-19 pandemic and certain geopolitical events on the Teachers Insurance and Annuity Association of America (“TIAA”) enterprise’s operations generally and on the Funds’ operations and performance.

On March 3, 2022, the Board held a virtual meeting via videoconference 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 11, 2022 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 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 and its affiliates 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.

In addition to the March 11, 2022 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 each 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 11, 2022 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, considered 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 receive and consider, among other matters, information regarding the performance of the Funds. 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 11, 2022, 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.

112 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

continued

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 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 review of 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. Based on all factors considered, the Board concluded that the nature, extent, and quality of services provided by Advisors to each Fund under the Agreement was reasonable.

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 2021. 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, 2021. 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 ended April 30, 2022 and Advisors’ commitment to continue these voluntary waivers for the year ending April 30, 2023, as well as a 0.015% management fee rate reduction for the Core Impact Bond Fund for the year ending April 30, 2023. 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 2021, 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 regard, 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 Funds’ 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

TIAA-CREF Funds: Fixed-Income Funds  ■  2022 Annual Report 113

Approval of investment management agreement (unaudited)

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 rate reductions and one-year voluntary advisory fee waivers agreed to by Advisors, 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 considered 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, Green Bond 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. 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 Advisors to its comparable clients.

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. The Board concluded that other benefits

to Advisors and its affiliates arising from the Agreement were reasonable in light of various relevant factors.

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 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 mean 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, 2021. 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, 2021. 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 2021 under the Agreement.

Bond Index Fund

• Effective August 1, 2021, the Fund’s contractual management fee rate was reduced from 0.10% 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 1st, 2nd 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 as compared to its benchmark, the Bloomberg Barclays U.S. Aggregate Bond Index, differed by –9 basis points.

• 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.

114 2022 Annual Report  ■  TIAA-CREF Funds: Fixed-Income Funds

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, 2021 asset level was 0.272% 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 3rd, 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 2nd, 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 3 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, 2021 asset level was 0.329% of average daily net assets.

• Effective May 1, 2022, Advisors has voluntarily agreed to reduce the Fund’s management fee rate by 0.015% through April 30, 2023.

• 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 both its Expense Group and its Expense Universe.

• The Fund was in the 3rd, 5th and 3rd quintiles of its Performance Group for the one-, three- and five-year periods, respectively. The Fund was in the 2nd, 4th 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, 2021 asset level was 0.282% 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 2nd, 3rd, 3rd and 3rd quintiles of its Performance Group, and in the 2nd, 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, 2021 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 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 3rd, 2nd, 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, 2021 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 its Performance Group for both the one- and three-year periods. The Fund was in the 2nd and 3rd quintiles of its Performance Universe for the one- and three-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.

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, 2021 asset level was 0.338% 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, 2022.

• Effective May 1, 2022, Advisors has voluntarily agreed to continue to reduce the Fund’s management fee rate by 0.015% through April 30, 2023.

• 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 4th, 4th, 5th, and 4th quintiles of its Performance Group for the one-, three-, five- and ten-year periods, respectively. The Fund was in the 3rd, 4th, 4th and

TIAA-CREF Funds: Fixed-Income Funds  ■  2022 Annual Report 115

Approval of investment management agreement(unaudited) concluded

	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 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, 2021 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, 2022.

• Effective May 1, 2022, Advisors has voluntarily agreed to continue to reduce the Fund’s management fee rate by 0.020% through April 30, 2023.

• 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, 4th, 4th and 5th quintiles of its Performance Group for the one-, three-, five- and ten-year periods, respectively. The Fund was in the 3rd, 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 3rd, 3rd 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 3rd, 4th and 1st quintiles of its Expense Universe, respectively.

• The Fund was in the 5th, 1st, 1st and 3rd quintiles of its Performance Group for the one-, three-, five- and ten-year periods, respectively. The Fund was in the 5th, 1st, 1st and 1st quintiles of its Performance Universe for the one-, three-, five- and ten-year periods, respectively.

• Money market funds are not rated by Morningstar.

• Advisors calculated that it incurred a net loss 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, 2021 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 1st, 1st and 2nd 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 1st quintiles of its Expense Universe, respectively.

• The Fund was in the 2nd and 1st quintiles of both its Performance Group and its Performance Universe for the one-and three-year periods, respectively.

• The Fund received an Overall Morningstar Rating of 4 stars.

• 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, 2021 asset level was 0.245% 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 3rd, 5th, 4th and 3rd quintiles of its Performance Group for the one-, three-, five- and ten-year periods, respectively. The Fund was in the 2nd, 3rd, 2nd 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

• Effective August 1, 2021, the Fund’s contractual management fee rate was reduced from 0.07% 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 ranked 2 out of 5 funds, 1 out of 5 funds and 1 out of 5 funds within its Expense Group, respectively. 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 Universe, respectively.

• For the three-year period, the Fund’s adjusted relative gross performance was the same as the performance of its benchmark, the Bloomberg Barclays 1–3 Year Government/Credit Bond Index.

• 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 conclusions, the Board renewed the Agreement for each Fund.

116 2022 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.

At a February 15, 2022 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, 2021 through December 31, 2021 (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 Funds’ liquidity developments.

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  ■  2022 Annual Report 117

[This page intentionally left blank.]

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.

©2022 Teachers Insurance and Annuity Association of America—College Retirement Equities Fund, 730 Third Avenue, New York, NY 10017-3206

  PRESORTED STANDARD U.S. POSTAGE PAID TIAA  

730 Third Avenue
New York, NY 10017-3206

We’re fond of paper…in its original form.   Switch to eDelivery at TIAA.org/eDelivery

Printed on paper containing recycled fiber

2088598 A12450 (5/22)

730 Third Avenue
New York, NY 10017-3206

Printed on paper containing recycled fiber

2088598 A12450 (5/22)

730 Third Avenue
New York, NY 10017-3206

2088598 A12450 (5/22)

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, 2022 and March 31, 2021 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, 2022 and March 31, 2021, PwC’s aggregate fees for the audit of the Registrant’s annual financial statements were $628,830 and $655,830, respectively.

4(b) Audit Related Fees.

For the fiscal years ended March 31, 2022 and March 31, 2021, 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, 2022 and March 31, 2021, 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, 2022 and March 31, 2021, PwC’s aggregate fees for tax services billed to the Registrant were $0 and $0, respectively.

For the fiscal years ended March 31, 2022 and March 31, 2021, 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, 2022 and March 31, 2021, PwC’s aggregate fees for all other services billed to the Registrant were $0 and $0, respectively.

For the fiscal years ended March 31, 2022 and March 31, 2021, 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, 2022 and March 31, 2021 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, 2022 and March 31, 2021 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, 2022 and March 31, 2021 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, 2022 and March 31, 2021 on behalf of the Fund Service Providers that relate directly to the operations and financial reporting 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, 2022 and March 31, 2021 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, 2022 and March 31, 2021 on behalf of the Fund Service Providers that relate directly to the operations and financial reporting 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, 2022 and March 31, 2021, aggregate non-audit fees billed to the Registrant and to its Fund Service Providers by PwC were $1,067,853 and $1,289,963, 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, 2022

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
BONDS - 99.5%
CORPORATE BONDS - 25.2%
AUTOMOBILES & COMPONENTS - 0.1%
$	100,000		Aptiv plc	4.350	%	03/15/29	$	102,892
	600,000		Aptiv plc	3.250		03/01/32		568,679
	100,000		Aptiv plc	4.400		10/01/46		96,912
	575,000		Aptiv plc	5.400		03/15/49		628,059
	1,500,000		Aptiv plc	3.100		12/01/51		1,192,476
	1,000,000		Aptiv plc	4.150		05/01/52		937,783
	200,000		BorgWarner, Inc	3.375		03/15/25		200,720
	1,650,000	e	BorgWarner, Inc	2.650		07/01/27		1,593,291
	200,000		BorgWarner, Inc	4.375		03/15/45		197,664
	125,000		General Motors Co	4.875		10/02/23		128,788
	500,000		General Motors Co	5.400		10/02/23		517,339
	500,000		General Motors Co	6.125		10/01/25		536,761
	500,000		General Motors Co	4.200		10/01/27		502,071
	500,000		General Motors Co	6.800		10/01/27		564,369
	700,000		General Motors Co	5.000		10/01/28		729,937
	900,000		General Motors Co	6.600		04/01/36		1,045,168
	700,000		General Motors Co	5.150		04/01/38		711,119
	150,000		General Motors Co	6.250		10/02/43		170,070
	175,000		General Motors Co	5.200		04/01/45		177,131
	350,000		General Motors Co	6.750		04/01/46		421,524
	500,000		General Motors Co	5.400		04/01/48		525,676
	900,000		General Motors Co	5.950		04/01/49		1,000,166
	275,000		Genuine Parts Co	2.750		02/01/32		252,358
	175,000		Harley-Davidson, Inc	3.500		07/28/25		172,002
	200,000		Harley-Davidson, Inc	4.625		07/28/45		184,935
	2,000,000		Honda Motor Co Ltd	2.534		03/10/27		1,935,947
	326,000		Lear Corp	3.800		09/15/27		326,270
	400,000		Lear Corp	4.250		05/15/29		404,948
	500,000		Lear Corp	3.500		05/30/30		478,681
	600,000		Lear Corp	2.600		01/15/32		529,981
	550,000	e	Lear Corp	5.250		05/15/49		590,282
	1,000,000		Lear Corp	3.550		01/15/52		825,171
	300,000		Magna International, Inc	3.625		06/15/24		303,209
	600,000		Magna International, Inc	4.150		10/01/25		614,682
	175,000		Magna International, Inc	2.450		06/15/30		161,226
	1,000,000		Toyota Motor Corp	0.681		03/25/24		965,271
	750,000		Toyota Motor Corp	2.358		07/02/24		743,513
	1,000,000		Toyota Motor Corp	1.339		03/25/26		942,549
	300,000		Toyota Motor Corp	3.669		07/20/28		305,366
	1,000,000	e	Toyota Motor Corp	2.362		03/25/31		934,545
			TOTAL AUTOMOBILES & COMPONENTS					23,219,531

1

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
BANKS - 4.1%
$	6,000,000	Asian Development Bank	1.500	%	01/20/27	$	5,714,199
	525,000	Australia & New Zealand Banking Group Ltd	3.700		11/16/25		537,905
	1,000,000	Banco Bilbao Vizcaya Argentaria S.A.	0.875		09/18/23		971,545
	1,000,000	Banco Bilbao Vizcaya Argentaria S.A.	1.125		09/18/25		921,200
	800,000	Banco Santander S.A.	3.125		02/23/23		805,753
	1,200,000	Banco Santander S.A.	3.848		04/12/23		1,215,623
	800,000	Banco Santander S.A.	2.706		06/27/24		791,513
	600,000	Banco Santander S.A.	2.746		05/28/25		584,679
	400,000	Banco Santander S.A.	5.179		11/19/25		413,537
	1,600,000	Banco Santander S.A.	1.849		03/25/26		1,495,458
	600,000	Banco Santander S.A.	4.250		04/11/27		606,124
	1,200,000	Banco Santander S.A.	1.722		09/14/27		1,083,842
	675,000	Banco Santander S.A.	3.800		02/23/28		664,233
	1,000,000	Banco Santander S.A.	4.175		03/24/28		1,005,072
	1,800,000	Banco Santander S.A.	4.379		04/12/28		1,815,368
	600,000	Banco Santander S.A.	3.306		06/27/29		581,027
	400,000	Banco Santander S.A.	3.490		05/28/30		387,140
	2,000,000	Banco Santander S.A.	2.749		12/03/30		1,760,190
	1,000,000	Banco Santander S.A.	2.958		03/25/31		924,081
	2,000,000	Banco Santander S.A.	3.225		11/22/32		1,795,055
	3,500,000	Bank of America Corp	4.125		01/22/24		3,592,358
	1,475,000	Bank of America Corp	4.200		08/26/24		1,510,849
	10,300,000	Bank of America Corp	3.458		03/15/25		10,362,137
	3,550,000	Bank of America Corp	3.950		04/21/25		3,617,423
	3,000,000	Bank of America Corp	0.981		09/25/25		2,843,429
	3,000,000	Bank of America Corp	3.093		10/01/25		2,989,823
	725,000	Bank of America Corp	2.456		10/22/25		712,385
	4,000,000	Bank of America Corp	3.366		01/23/26		4,002,019
	3,000,000	Bank of America Corp	2.015		02/13/26		2,887,648
	5,000,000	Bank of America Corp	1.319		06/19/26		4,685,854
	4,500,000	Bank of America Corp	1.197		10/24/26		4,158,830
	5,000,000	Bank of America Corp	1.658		03/11/27		4,660,861
	7,800,000	Bank of America Corp	3.559		04/23/27		7,822,210
	4,500,000	Bank of America Corp	1.734		07/22/27		4,179,082
	2,000,000	Bank of America Corp	2.551		02/04/28		1,910,966
	2,000,000	Bank of America Corp	3.593		07/21/28		2,003,481
	5,690,000	Bank of America Corp	3.419		12/20/28		5,632,498
	1,250,000	Bank of America Corp	3.970		03/05/29		1,269,022
	3,000,000	Bank of America Corp	2.087		06/14/29		2,740,330
	1,400,000	Bank of America Corp	4.271		07/23/29		1,444,384
	3,075,000	Bank of America Corp	3.974		02/07/30		3,124,631
	1,675,000	Bank of America Corp	3.194		07/23/30		1,620,771
	1,050,000	Bank of America Corp	2.884		10/22/30		995,696
	4,000,000	Bank of America Corp	2.496		02/13/31		3,676,680
	1,750,000	Bank of America Corp	2.592		04/29/31		1,614,491
	3,000,000	Bank of America Corp	1.898		07/23/31		2,619,813
	3,000,000	Bank of America Corp	1.922		10/24/31		2,606,033
	3,000,000	Bank of America Corp	2.651		03/11/32		2,751,467
	4,000,000	Bank of America Corp	2.687		04/22/32		3,678,548
	5,000,000	Bank of America Corp	2.299		07/21/32		4,450,076
	3,000,000	Bank of America Corp	2.572		10/20/32		2,725,991
	2,000,000	Bank of America Corp	2.972		02/04/33		1,873,986

2

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	4,000,000	Bank of America Corp	2.482	%	09/21/36	$	3,439,088
	1,500,000	Bank of America Corp	6.110		01/29/37		1,791,890
	3,000,000	Bank of America Corp	3.846		03/08/37		2,872,864
	4,500,000	Bank of America Corp	4.078		04/23/40		4,620,359
	6,000,000	Bank of America Corp	2.676		06/19/41		5,066,150
	4,000,000	Bank of America Corp	3.311		04/22/42		3,703,072
	1,500,000	Bank of America Corp	5.000		01/21/44		1,725,264
	2,800,000	Bank of America Corp	4.443		01/20/48		3,045,168
	3,000,000	Bank of America Corp	3.946		01/23/49		3,036,320
	1,000,000	Bank of America Corp	2.831		10/24/51		850,411
	1,950,000	Bank of America Corp	3.483		03/13/52		1,838,831
	2,000,000	Bank of America Corp	2.972		07/21/52		1,711,397
	2,000,000	Bank of Montreal	0.450		12/08/23		1,931,278
	1,425,000	Bank of Montreal	3.300		02/05/24		1,444,224
	1,000,000	Bank of Montreal	2.500		06/28/24		995,440
	2,000,000	Bank of Montreal	0.625		07/09/24		1,900,538
	750,000	Bank of Montreal	1.850		05/01/25		720,755
	1,500,000	Bank of Montreal	1.250		09/15/26		1,377,030
	1,000,000	Bank of Montreal	0.949		01/22/27		920,977
	750,000	Bank of Montreal	4.338		10/05/28		761,642
	425,000	Bank of Montreal	3.803		12/15/32		419,993
	1,000,000	Bank of New York Mellon Corp	2.050		01/26/27		963,479
	750,000	Bank of Nova Scotia	2.200		02/03/25		730,521
	2,000,000	Bank of Nova Scotia	1.300		06/11/25		1,884,298
	1,550,000	Bank of Nova Scotia	4.500		12/16/25		1,601,219
	2,000,000	Bank of Nova Scotia	1.050		03/02/26		1,834,671
	2,000,000	Bank of Nova Scotia	1.350		06/24/26		1,854,803
	1,000,000	Bank of Nova Scotia	2.700		08/03/26		981,823
	3,000,000	Bank of Nova Scotia	1.300		09/15/26		2,758,718
	525,000	Barclays plc	4.338		05/16/24		533,026
	200,000	Barclays plc	4.375		09/11/24		202,620
	2,000,000	Barclays plc	1.007		12/10/24		1,920,140
	1,425,000	Barclays plc	3.650		03/16/25		1,425,947
	2,750,000	Barclays plc	3.932		05/07/25		2,772,373
	975,000	Barclays plc	4.375		01/12/26		996,835
	2,000,000	Barclays plc	2.852		05/07/26		1,942,543
	800,000	Barclays plc	5.200		05/12/26		830,795
	2,000,000	Barclays plc	2.279		11/24/27		1,856,759
	700,000	Barclays plc	4.337		01/10/28		711,416
	1,975,000	Barclays plc	4.836		05/09/28		2,016,624
	1,500,000	Barclays plc	4.972		05/16/29		1,569,139
	1,000,000	Barclays plc	5.088		06/20/30		1,037,316
	2,000,000	Barclays plc	2.645		06/24/31		1,814,085
	1,500,000	Barclays plc	2.667		03/10/32		1,345,018
	2,000,000	Barclays plc	2.894		11/24/32		1,814,065
	1,750,000	Barclays plc	3.564		09/23/35		1,611,807
	1,000,000	Barclays plc	3.811		03/10/42		894,270
	1,125,000	Barclays plc	3.330		11/24/42		978,500
	775,000	Barclays plc	5.250		08/17/45		861,616
	575,000	Barclays plc	4.950		01/10/47		621,355
	1,000,000	BBVA USA	2.500		08/27/24		992,052
	500,000	BBVA USA	3.875		04/10/25		509,637
	675,000	BNP Paribas S.A.	3.250		03/03/23		681,605
	1,350,000	BNP Paribas S.A.	4.250		10/15/24		1,380,198
	800,000	Canadian Imperial Bank of Commerce	0.950		06/23/23		785,052

3

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	500,000	Canadian Imperial Bank of Commerce	3.500	%	09/13/23	$	507,439
	2,000,000	Canadian Imperial Bank of Commerce	0.500		12/14/23		1,931,276
	750,000	Canadian Imperial Bank of Commerce	3.100		04/02/24		753,730
	1,000,000	Canadian Imperial Bank of Commerce	2.250		01/28/25		976,676
	1,000,000	Canadian Imperial Bank of Commerce	0.950		10/23/25		919,944
	1,000,000	Canadian Imperial Bank of Commerce	1.250		06/22/26		917,852
	2,000,000	CitiBank NA	3.650		01/23/24		2,035,195
	4,600,000	Citigroup, Inc	3.500		05/15/23		4,647,354
	1,500,000	Citigroup, Inc	4.044		06/01/24		1,519,178
	500,000	Citigroup, Inc	4.000		08/05/24		511,120
	3,250,000	Citigroup, Inc	0.776		10/30/24		3,139,764
	7,500,000	Citigroup, Inc	3.352		04/24/25		7,517,837
	2,000,000	Citigroup, Inc	0.981		05/01/25		1,906,555
	1,000,000	Citigroup, Inc	3.700		01/12/26		1,012,307
	750,000	Citigroup, Inc	4.600		03/09/26		777,698
	3,000,000	Citigroup, Inc	3.106		04/08/26		2,974,501
	1,100,000	Citigroup, Inc	4.300		11/20/26		1,131,217
	4,000,000	Citigroup, Inc	1.122		01/28/27		3,669,568
	5,000,000	Citigroup, Inc	1.462		06/09/27		4,591,939
	1,500,000	Citigroup, Inc	4.450		09/29/27		1,547,155
	5,000,000	Citigroup, Inc	3.070		02/24/28		4,869,794
	1,000,000	Citigroup, Inc	3.668		07/24/28		1,000,221
	2,025,000	Citigroup, Inc	4.125		07/25/28		2,055,645
	4,000,000	Citigroup, Inc	4.075		04/23/29		4,076,722
	1,750,000	Citigroup, Inc	3.980		03/20/30		1,776,686
	5,000,000	Citigroup, Inc	2.666		01/29/31		4,632,457
	2,200,000	Citigroup, Inc	4.412		03/31/31		2,283,940
	6,000,000	Citigroup, Inc	2.572		06/03/31		5,496,643
	5,000,000	Citigroup, Inc	2.561		05/01/32		4,508,848
	175,000	Citigroup, Inc	6.625		06/15/32		211,485
	875,000	Citigroup, Inc	2.520		11/03/32		785,011
	4,000,000	Citigroup, Inc	3.057		01/25/33		3,737,334
	1,000,000	Citigroup, Inc	3.785		03/17/33		991,329
	750,000	Citigroup, Inc	3.878		01/24/39		749,323
	325,000	Citigroup, Inc	8.125		07/15/39		492,022
	350,000	Citigroup, Inc	5.875		01/30/42		435,921
	2,000,000	Citigroup, Inc	2.904		11/03/42		1,713,637
	400,000	Citigroup, Inc	6.675		09/13/43		526,181
	125,000	Citigroup, Inc	5.300		05/06/44		142,230
	675,000	Citigroup, Inc	4.650		07/30/45		741,084
	3,075,000	Citigroup, Inc	4.750		05/18/46		3,291,187
	5,075,000	Citigroup, Inc	4.650		07/23/48		5,731,066
	500,000	Citizens Bank NA	3.700		03/29/23		505,650
	350,000	Citizens Bank NA	2.250		04/28/25		339,215
	250,000	Citizens Bank NA	3.750		02/18/26		255,211
	500,000	Citizens Financial Group, Inc	2.850		07/27/26		491,992
	200,000	Citizens Financial Group, Inc	2.500		02/06/30		184,312
	450,000	Citizens Financial Group, Inc	3.250		04/30/30		439,803
	850,000	Citizens Financial Group, Inc	2.638		09/30/32		749,774
	500,000	Comerica Bank	2.500		07/23/24		494,156
	200,000	Comerica Bank	4.000		07/27/25		203,824
	625,000	Comerica, Inc	3.700		07/31/23		633,294
	550,000	Comerica, Inc	4.000		02/01/29		569,809
	2,000,000	Cooperatieve Rabobank UA	0.375		01/12/24		1,921,996
	2,050,000	Cooperatieve Rabobank UA	3.375		05/21/25		2,062,728

4

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	600,000	Cooperatieve Rabobank UA	4.375	%	08/04/25	$	609,757
	2,700,000	Cooperatieve Rabobank UA	3.750		07/21/26		2,683,641
	550,000	Cooperatieve Rabobank UA	5.250		05/24/41		676,976
	400,000	Cooperatieve Rabobank UA	5.750		12/01/43		484,565
	1,600,000	Cooperatieve Rabobank UA	5.250		08/04/45		1,813,996
	1,300,000	Discover Bank	3.350		02/06/23		1,312,499
	1,350,000	Discover Bank	4.200		08/08/23		1,372,643
	1,000,000	Discover Bank	2.450		09/12/24		982,415
	200,000	Discover Bank	4.250		03/13/26		205,539
	1,125,000	Discover Bank	3.450		07/27/26		1,118,467
	300,000	Discover Bank	4.682		08/09/28		304,216
	350,000	Discover Bank	4.650		09/13/28		363,325
	325,000	Discover Bank	2.700		02/06/30		297,471
	450,000	Fifth Third Bancorp	4.300		01/16/24		459,888
	675,000	Fifth Third Bancorp	3.650		01/25/24		683,321
	1,000,000	Fifth Third Bancorp	2.375		01/28/25		977,269
	300,000	Fifth Third Bancorp	2.550		05/05/27		289,849
	1,000,000	Fifth Third Bancorp	1.707		11/01/27		925,320
	500,000	Fifth Third Bancorp	3.950		03/14/28		511,524
	140,000	Fifth Third Bancorp	8.250		03/01/38		206,830
	300,000	Fifth Third Bank	3.950		07/28/25		308,263
	2,400,000	Fifth Third Bank	3.850		03/15/26		2,436,465
	1,000,000	Fifth Third Bank	2.250		02/01/27		962,277
	500,000	First Citizens BancShares, Inc	3.375		03/15/30		487,346
	500,000	First Horizon Bank	5.750		05/01/30		565,283
	500,000	First Horizon National Corp	3.550		05/26/23		502,921
	500,000	First Horizon National Corp	4.000		05/26/25		506,588
	500,000	First Republic Bank	1.912		02/12/24		495,494
	175,000	First Republic Bank	4.375		08/01/46		180,677
	550,000	FNB Corp	2.200		02/24/23		546,716
	33,000	HSBC Bank USA NA	7.000		01/15/39		44,862
	2,625,000	HSBC Holdings plc	4.250		03/14/24		2,663,372
	2,325,000	HSBC Holdings plc	3.950		05/18/24		2,347,862
	850,000	HSBC Holdings plc	0.976		05/24/25		806,940
	450,000	HSBC Holdings plc	4.250		08/18/25		455,127
	2,000,000	HSBC Holdings plc	2.633		11/07/25		1,950,800
	1,875,000	HSBC Holdings plc	4.300		03/08/26		1,923,891
	825,000	HSBC Holdings plc	1.645		04/18/26		776,293
	2,475,000	HSBC Holdings plc	3.900		05/25/26		2,498,679
	1,500,000	HSBC Holdings plc	2.099		06/04/26		1,426,460
	1,100,000	HSBC Holdings plc	4.292		09/12/26		1,114,175
	450,000	HSBC Holdings plc	4.375		11/23/26		458,190
	4,000,000	HSBC Holdings plc	1.589		05/24/27		3,650,881
	3,000,000	HSBC Holdings plc	2.251		11/22/27		2,795,210
	3,925,000	HSBC Holdings plc	4.041		03/13/28		3,935,873
	5,000,000	HSBC Holdings plc	2.013		09/22/28		4,533,703
	2,775,000	HSBC Holdings plc	4.583		06/19/29		2,855,204
	1,600,000	HSBC Holdings plc	2.206		08/17/29		1,439,145
	4,000,000	HSBC Holdings plc	3.973		05/22/30		4,001,619
	3,000,000	HSBC Holdings plc	2.848		06/04/31		2,772,693
	750,000	HSBC Holdings plc	2.357		08/18/31		665,184
	3,350,000	HSBC Holdings plc	2.804		05/24/32		3,043,942
	3,500,000	HSBC Holdings plc	2.871		11/22/32		3,181,524
	1,500,000	HSBC Holdings plc	4.762		03/29/33		1,541,517
	300,000	HSBC Holdings plc	6.500		05/02/36		363,728

5

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	2,700,000		HSBC Holdings plc	6.500	%	09/15/37	$	3,287,687
	200,000		HSBC Holdings plc	6.800		06/01/38		249,708
	550,000		HSBC Holdings plc	6.100		01/14/42		695,325
	1,175,000		HSBC Holdings plc	5.250		03/14/44		1,295,886
	1,250,000		HSBC USA, Inc	3.500		06/23/24		1,262,108
	1,000,000		Huntington Bancshares, Inc	2.625		08/06/24		990,849
	500,000		Huntington Bancshares, Inc	4.000		05/15/25		509,320
	1,000,000		Huntington Bancshares, Inc	2.550		02/04/30		938,679
	500,000	g	Huntington Bancshares, Inc	2.487		08/15/36		435,037
	375,000		Huntington National Bank	1.800		02/03/23		373,754
	4,750,000		Industrial & Commercial Bank of China Ltd	3.538		11/08/27		4,795,780
	1,200,000		ING Groep NV	4.100		10/02/23		1,220,208
	575,000		ING Groep NV	3.550		04/09/24		582,127
	1,250,000		ING Groep NV	3.950		03/29/27		1,265,439
	1,500,000		ING Groep NV	1.726		04/01/27		1,383,516
	500,000		ING Groep NV	4.550		10/02/28		517,002
	1,325,000		ING Groep NV	4.050		04/09/29		1,343,017
	475,000		ING Groep NV	2.727		04/01/32		435,629
	5,000,000		Inter-American Development Bank	1.500		01/13/27		4,777,782
	500,000		JPMorgan Chase & Co	3.375		05/01/23		505,424
	475,000		JPMorgan Chase & Co	3.875		02/01/24		485,124
	4,400,000		JPMorgan Chase & Co	3.559		04/23/24		4,440,865
	1,525,000		JPMorgan Chase & Co	3.625		05/13/24		1,555,461
	2,000,000		JPMorgan Chase & Co	1.514		06/01/24		1,972,942
	1,575,000		JPMorgan Chase & Co	3.797		07/23/24		1,592,924
	2,675,000		JPMorgan Chase & Co	3.875		09/10/24		2,732,404
	975,000		JPMorgan Chase & Co	4.023		12/05/24		990,608
	625,000		JPMorgan Chase & Co	3.125		01/23/25		628,226
	475,000		JPMorgan Chase & Co	0.563		02/16/25		453,948
	1,200,000		JPMorgan Chase & Co	3.220		03/01/25		1,204,249
	2,000,000		JPMorgan Chase & Co	0.824		06/01/25		1,907,142
	2,125,000		JPMorgan Chase & Co	3.900		07/15/25		2,181,117
	2,000,000		JPMorgan Chase & Co	2.301		10/15/25		1,958,773
	2,500,000		JPMorgan Chase & Co	2.595		02/24/26		2,451,811
	2,000,000		JPMorgan Chase & Co	2.005		03/13/26		1,928,135
	3,125,000		JPMorgan Chase & Co	3.300		04/01/26		3,149,761
	2,000,000		JPMorgan Chase & Co	2.083		04/22/26		1,930,011
	1,450,000		JPMorgan Chase & Co	3.200		06/15/26		1,457,797
	1,000,000		JPMorgan Chase & Co	2.950		10/01/26		992,257
	4,000,000		JPMorgan Chase & Co	1.045		11/19/26		3,693,095
	1,350,000		JPMorgan Chase & Co	4.125		12/15/26		1,396,959
	2,450,000		JPMorgan Chase & Co	3.960		01/29/27		2,500,748
	4,000,000		JPMorgan Chase & Co	1.040		02/04/27		3,665,270
	5,200,000		JPMorgan Chase & Co	1.578		04/22/27		4,843,165
	5,000,000		JPMorgan Chase & Co	1.470		09/22/27		4,607,827
	250,000		JPMorgan Chase & Co	4.250		10/01/27		258,128
	325,000		JPMorgan Chase & Co	3.625		12/01/27		325,796
	1,375,000		JPMorgan Chase & Co	3.782		02/01/28		1,392,594
	2,500,000		JPMorgan Chase & Co	2.947		02/24/28		2,439,691
	425,000		JPMorgan Chase & Co	3.540		05/01/28		426,112
	6,000,000		JPMorgan Chase & Co	2.182		06/01/28		5,628,884
	3,000,000		JPMorgan Chase & Co	2.069		06/01/29		2,764,665
	2,050,000		JPMorgan Chase & Co	4.203		07/23/29		2,120,042
	1,750,000		JPMorgan Chase & Co	4.452		12/05/29		1,824,135
	4,500,000		JPMorgan Chase & Co	3.702		05/06/30		4,523,834

6

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	2,000,000	JPMorgan Chase & Co	2.522	%	04/22/31	$	1,854,038
	1,425,000	JPMorgan Chase & Co	2.956		05/13/31		1,333,368
	5,000,000	JPMorgan Chase & Co	1.764		11/19/31		4,310,876
	2,250,000	JPMorgan Chase & Co	1.953		02/04/32		1,971,006
	3,000,000	JPMorgan Chase & Co	2.580		04/22/32		2,748,459
	3,000,000	JPMorgan Chase & Co	2.545		11/08/32		2,741,238
	6,000,000	JPMorgan Chase & Co	2.963		01/25/33		5,656,520
	958,000	JPMorgan Chase & Co	5.500		10/15/40		1,149,743
	2,000,000	JPMorgan Chase & Co	3.109		04/22/41		1,807,476
	4,500,000	JPMorgan Chase & Co	2.525		11/19/41		3,695,757
	3,000,000	JPMorgan Chase & Co	3.157		04/22/42		2,719,705
	1,000,000	JPMorgan Chase & Co	5.625		08/16/43		1,217,387
	1,800,000	JPMorgan Chase & Co	4.950		06/01/45		2,036,207
	2,050,000	JPMorgan Chase & Co	4.260		02/22/48		2,190,800
	1,000,000	JPMorgan Chase & Co	4.032		07/24/48		1,027,839
	4,500,000	JPMorgan Chase & Co	3.964		11/15/48		4,596,662
	1,750,000	JPMorgan Chase & Co	3.897		01/23/49		1,770,002
	2,000,000	JPMorgan Chase & Co	3.109		04/22/51		1,771,243
	3,000,000	JPMorgan Chase & Co	3.328		04/22/52		2,773,082
	750,000	JPMorgan Chase & Co	6.000		N/A‡		759,375
	3,000,000	KeyBank NA	0.423		01/03/24		2,955,873
	1,000,000	KeyBank NA	0.433		06/14/24		976,170
	750,000	KeyBank NA	3.300		06/01/25		753,796
	300,000	KeyBank NA	3.400		05/20/26		298,888
	250,000	KeyBank NA	3.900		04/13/29		253,754
	200,000	KeyCorp	4.150		10/29/25		205,780
	850,000	KeyCorp	2.250		04/06/27		802,475
	500,000	KeyCorp	4.100		04/30/28		513,224
	1,000,000	KeyCorp	2.550		10/01/29		945,516
	1,800,000	Lloyds Banking Group plc	3.900		03/12/24		1,827,487
	2,750,000	Lloyds Banking Group plc	4.500		11/04/24		2,809,962
	1,375,000	Lloyds Banking Group plc	4.450		05/08/25		1,409,099
	325,000	Lloyds Banking Group plc	4.582		12/10/25		331,688
	1,000,000	Lloyds Banking Group plc	2.438		02/05/26		964,294
	225,000	Lloyds Banking Group plc	4.650		03/24/26		230,178
	500,000	Lloyds Banking Group plc	3.750		01/11/27		498,636
	2,000,000	Lloyds Banking Group plc	1.627		05/11/27		1,833,903
	2,700,000	Lloyds Banking Group plc	4.375		03/22/28		2,759,062
	700,000	Lloyds Banking Group plc	4.550		08/16/28		721,872
	1,825,000	Lloyds Banking Group plc	3.574		11/07/28		1,782,664
	1,550,000	Lloyds Banking Group plc	4.344		01/09/48		1,507,473
	300,000	M&T Bank Corp	3.550		07/26/23		303,361
	1,100,000	Manufacturers & Traders Trust Co	2.900		02/06/25		1,091,383
	1,925,000	Mitsubishi UFJ Financial Group, Inc	3.455		03/02/23		1,945,122
	1,175,000	Mitsubishi UFJ Financial Group, Inc	3.761		07/26/23		1,193,052
	1,000,000	Mitsubishi UFJ Financial Group, Inc	2.801		07/18/24		993,821
	1,000,000	Mitsubishi UFJ Financial Group, Inc	0.848		09/15/24		969,158
	2,000,000	Mitsubishi UFJ Financial Group, Inc	2.193		02/25/25		1,933,588
	1,625,000	Mitsubishi UFJ Financial Group, Inc	3.777		03/02/25		1,651,832
	2,500,000	Mitsubishi UFJ Financial Group, Inc	1.412		07/17/25		2,342,117
	3,000,000	Mitsubishi UFJ Financial Group, Inc	0.953		07/19/25		2,843,592
	750,000	Mitsubishi UFJ Financial Group, Inc	0.962		10/11/25		706,913
	207,000	Mitsubishi UFJ Financial Group, Inc	3.850		03/01/26		209,668
	225,000	Mitsubishi UFJ Financial Group, Inc	2.757		09/13/26		218,374
	650,000	Mitsubishi UFJ Financial Group, Inc	3.677		02/22/27		656,982

7

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	4,000,000		Mitsubishi UFJ Financial Group, Inc	1.538	%	07/20/27	$	3,671,479
	700,000		Mitsubishi UFJ Financial Group, Inc	3.287		07/25/27		693,616
	750,000		Mitsubishi UFJ Financial Group, Inc	1.640		10/13/27		689,465
	1,000,000		Mitsubishi UFJ Financial Group, Inc	2.341		01/19/28		944,485
	1,000,000		Mitsubishi UFJ Financial Group, Inc	3.961		03/02/28		1,014,467
	300,000		Mitsubishi UFJ Financial Group, Inc	4.050		09/11/28		306,723
	1,250,000		Mitsubishi UFJ Financial Group, Inc	3.741		03/07/29		1,261,553
	1,000,000		Mitsubishi UFJ Financial Group, Inc	3.195		07/18/29		970,558
	1,500,000		Mitsubishi UFJ Financial Group, Inc	2.559		02/25/30		1,389,737
	1,250,000		Mitsubishi UFJ Financial Group, Inc	2.048		07/17/30		1,106,658
	1,700,000		Mitsubishi UFJ Financial Group, Inc	2.309		07/20/32		1,522,025
	500,000		Mitsubishi UFJ Financial Group, Inc	2.494		10/13/32		449,823
	1,000,000		Mitsubishi UFJ Financial Group, Inc	2.852		01/19/33		931,797
	300,000		Mitsubishi UFJ Financial Group, Inc	4.286		07/26/38		313,555
	500,000		Mitsubishi UFJ Financial Group, Inc	4.153		03/07/39		516,436
	1,425,000		Mitsubishi UFJ Financial Group, Inc	3.751		07/18/39		1,399,537
	700,000		Mizuho Financial Group, Inc	3.549		03/05/23		708,050
	1,750,000		Mizuho Financial Group, Inc	1.241		07/10/24		1,712,626
	2,000,000		Mizuho Financial Group, Inc	0.849		09/08/24		1,938,699
	500,000		Mizuho Financial Group, Inc	2.555		09/13/25		489,731
	500,000		Mizuho Financial Group, Inc	2.226		05/25/26		479,316
	200,000		Mizuho Financial Group, Inc	3.663		02/28/27		200,856
	1,000,000		Mizuho Financial Group, Inc	1.234		05/22/27		909,662
	1,000,000		Mizuho Financial Group, Inc	1.554		07/09/27		917,886
	600,000		Mizuho Financial Group, Inc	3.170		09/11/27		590,639
	725,000		Mizuho Financial Group, Inc	4.018		03/05/28		736,016
	625,000		Mizuho Financial Group, Inc	4.254		09/11/29		640,873
	1,000,000		Mizuho Financial Group, Inc	3.261		05/22/30		969,547
	1,000,000		Mizuho Financial Group, Inc	3.153		07/16/30		962,912
	500,000		Mizuho Financial Group, Inc	2.869		09/13/30		471,774
	500,000		Mizuho Financial Group, Inc	2.591		05/25/31		457,706
	1,000,000		Mizuho Financial Group, Inc	2.201		07/10/31		888,103
	1,000,000		Mizuho Financial Group, Inc	1.979		09/08/31		874,260
	700,000		Mizuho Financial Group, Inc	2.564		09/13/31		611,803
	1,000,000		Mizuho Financial Group, Inc	2.172		05/22/32		876,841
	1,000,000	e	Mizuho Financial Group, Inc	2.260		07/09/32		882,645
	625,000		National Australia Bank Ltd	3.000		01/20/23		630,220
	500,000		National Australia Bank Ltd	2.875		04/12/23		503,038
	300,000		National Australia Bank Ltd	3.375		01/14/26		304,103
	750,000		National Australia Bank Ltd	2.500		07/12/26		732,893
	1,000,000		National Bank of Canada	2.100		02/01/23		999,773
	1,000,000		National Bank of Canada	0.750		08/06/24		947,909
	1,150,000		National Bank of Canada	0.550		11/15/24		1,106,446
	800,000		Natwest Group plc	1.642		06/14/27		731,374
	800,000		Natwest Group plc	3.032		11/28/35		709,747
	1,275,000		NatWest Group plc	3.875		09/12/23		1,288,056
	1,100,000		NatWest Group plc	2.359		05/22/24		1,091,064
	300,000		People’s United Bank NA	4.000		07/15/24		303,739
	100,000		People’s United Financial, Inc	3.650		12/06/22		100,655
	250,000		PNC Bank NA	3.800		07/25/23		254,134
	600,000		PNC Bank NA	2.950		02/23/25		600,415
	550,000		PNC Bank NA	3.250		06/01/25		555,560
	500,000		PNC Bank NA	3.100		10/25/27		499,053
	500,000		PNC Bank NA	3.250		01/22/28		498,840
	903,000		PNC Bank NA	4.050		07/26/28		927,307

8

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	475,000	PNC Bank NA	2.700	%	10/22/29	$	456,061
	500,000	PNC Financial Services Group, Inc	3.500		01/23/24		507,050
	300,000	PNC Financial Services Group, Inc	3.900		04/29/24		306,901
	500,000	PNC Financial Services Group, Inc	2.200		11/01/24		494,197
	1,500,000	PNC Financial Services Group, Inc	2.600		07/23/26		1,477,692
	3,000,000	PNC Financial Services Group, Inc	1.150		08/13/26		2,772,828
	300,000	PNC Financial Services Group, Inc	3.150		05/19/27		300,500
	1,575,000	PNC Financial Services Group, Inc	3.450		04/23/29		1,601,135
	2,000,000	PNC Financial Services Group, Inc	2.550		01/22/30		1,908,857
	1,500,000	PNC Financial Services Group, Inc	2.307		04/23/32		1,376,446
	300,000	Regions Bank	6.450		06/26/37		372,379
	225,000	Regions Financial Corp	2.250		05/18/25		218,963
	1,000,000	Regions Financial Corp	1.800		08/12/28		892,776
	500,000	Royal Bank of Canada	1.600		04/17/23		497,480
	850,000	Royal Bank of Canada	3.700		10/05/23		865,491
	1,000,000	Royal Bank of Canada	0.500		10/26/23		968,999
	1,000,000	Royal Bank of Canada	0.425		01/19/24		965,058
	1,000,000	Royal Bank of Canada	2.550		07/16/24		995,472
	750,000	Royal Bank of Canada	2.250		11/01/24		739,479
	2,000,000	Royal Bank of Canada	1.150		06/10/25		1,887,481
	1,000,000	Royal Bank of Canada	0.875		01/20/26		919,250
	1,000,000	Royal Bank of Canada	4.650		01/27/26		1,042,320
	2,000,000	Royal Bank of Canada	1.200		04/27/26		1,850,939
	2,000,000	Royal Bank of Canada	1.150		07/14/26		1,833,309
	1,500,000	Royal Bank of Canada	1.400		11/02/26		1,381,737
	1,600,000	Royal Bank of Canada	2.300		11/03/31		1,454,714
	700,000	Royal Bank of Scotland Group plc	4.519		06/25/24		710,542
	750,000	Royal Bank of Scotland Group plc	4.269		03/22/25		758,699
	750,000	Royal Bank of Scotland Group plc	4.800		04/05/26		775,357
	300,000	Royal Bank of Scotland Group plc	3.073		05/22/28		287,965
	1,000,000	Royal Bank of Scotland Group plc	4.892		05/18/29		1,039,475
	750,000	Royal Bank of Scotland Group plc	3.754		11/01/29		744,058
	3,000,000	Royal Bank of Scotland Group plc	5.076		01/27/30		3,194,303
	1,500,000	Royal Bank of Scotland Group plc	4.445		05/08/30		1,538,618
	375,000	Santander Holdings USA, Inc	3.500		06/07/24		376,014
	1,000,000	Santander Holdings USA, Inc	3.450		06/02/25		992,771
	775,000	Santander Holdings USA, Inc	4.500		07/17/25		792,107
	1,850,000	Santander Holdings USA, Inc	3.244		10/05/26		1,803,356
	650,000	Santander Holdings USA, Inc	4.400		07/13/27		661,103
	2,000,000	Santander Holdings USA, Inc	2.490		01/06/28		1,866,001
	775,000	Santander UK Group Holdings plc	3.373		01/05/24		777,358
	725,000	Santander UK Group Holdings plc	4.796		11/15/24		741,466
	1,000,000	Santander UK Group Holdings plc	1.532		08/21/26		919,237
	1,000,000	Santander UK Group Holdings plc	1.673		06/14/27		909,823
	500,000	Santander UK Group Holdings plc	3.823		11/03/28		491,656
	1,500,000	Santander UK Group Holdings plc	2.896		03/15/32		1,357,134
	775,000	Santander UK plc	4.000		03/13/24		791,049
	1,000,000	State Street Corp	2.203		02/07/28		958,230
	1,000,000	State Street Corp	2.623		02/07/33		940,979
	800,000	Sumitomo Mitsui Banking Corp	3.000		01/18/23		805,684
	300,000	Sumitomo Mitsui Banking Corp	3.950		01/10/24		306,351
	500,000	Sumitomo Mitsui Banking Corp	3.400		07/11/24		504,877
	250,000	Sumitomo Mitsui Banking Corp	3.650		07/23/25		252,261
	1,725,000	Sumitomo Mitsui Financial Group, Inc	3.102		01/17/23		1,739,559
	900,000	Sumitomo Mitsui Financial Group, Inc	3.748		07/19/23		913,226

9

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	1,000,000		Sumitomo Mitsui Financial Group, Inc	0.508	%	01/12/24	$	961,591
	1,000,000		Sumitomo Mitsui Financial Group, Inc	2.448		09/27/24		982,345
	1,000,000		Sumitomo Mitsui Financial Group, Inc	0.948		01/12/26		914,332
	1,300,000		Sumitomo Mitsui Financial Group, Inc	3.784		03/09/26		1,314,699
	1,000,000		Sumitomo Mitsui Financial Group, Inc	1.402		09/17/26		912,272
	700,000		Sumitomo Mitsui Financial Group, Inc	3.010		10/19/26		685,888
	725,000		Sumitomo Mitsui Financial Group, Inc	3.446		01/11/27		723,591
	1,000,000	e	Sumitomo Mitsui Financial Group, Inc	2.174		01/14/27		945,086
	775,000		Sumitomo Mitsui Financial Group, Inc	3.364		07/12/27		770,169
	500,000		Sumitomo Mitsui Financial Group, Inc	3.352		10/18/27		495,357
	675,000		Sumitomo Mitsui Financial Group, Inc	3.544		01/17/28		669,680
	750,000		Sumitomo Mitsui Financial Group, Inc	3.944		07/19/28		762,438
	1,500,000		Sumitomo Mitsui Financial Group, Inc	1.902		09/17/28		1,342,367
	500,000		Sumitomo Mitsui Financial Group, Inc	4.306		10/16/28		515,862
	1,500,000		Sumitomo Mitsui Financial Group, Inc	2.472		01/14/29		1,395,038
	1,500,000		Sumitomo Mitsui Financial Group, Inc	3.040		07/16/29		1,442,504
	500,000		Sumitomo Mitsui Financial Group, Inc	3.202		09/17/29		479,257
	1,000,000		Sumitomo Mitsui Financial Group, Inc	2.724		09/27/29		938,753
	1,500,000		Sumitomo Mitsui Financial Group, Inc	2.750		01/15/30		1,407,396
	1,500,000		Sumitomo Mitsui Financial Group, Inc	2.130		07/08/30		1,341,242
	1,000,000		Sumitomo Mitsui Financial Group, Inc	2.142		09/23/30		876,768
	1,000,000		Sumitomo Mitsui Financial Group, Inc	1.710		01/12/31		855,242
	1,500,000		Sumitomo Mitsui Financial Group, Inc	2.222		09/17/31		1,327,040
	1,500,000		Sumitomo Mitsui Financial Group, Inc	2.296		01/12/41		1,203,022
	1,000,000		Sumitomo Mitsui Financial Group, Inc	2.930		09/17/41		852,650
	1,500,000		Sumitomo Mitsui Financial Group, Inc	3.050		01/14/42		1,342,848
	1,000,000		SVB Financial Group	1.800		10/28/26		929,167
	750,000		SVB Financial Group	2.100		05/15/28		683,538
	300,000		SVB Financial Group	3.125		06/05/30		288,395
	875,000		SVB Financial Group	1.800		02/02/31		753,418
	889,000		Svenska Handelsbanken AB	3.900		11/20/23		907,748
	500,000		Toronto-Dominion Bank	3.500		07/19/23		508,201
	1,525,000		Toronto-Dominion Bank	3.250		03/11/24		1,543,244
	1,250,000		Toronto-Dominion Bank	2.650		06/12/24		1,248,368
	1,000,000		Toronto-Dominion Bank	1.150		06/12/25		943,761
	1,000,000		Toronto-Dominion Bank	0.750		09/11/25		921,705
	2,000,000		Toronto-Dominion Bank	0.750		01/06/26		1,831,996
	2,000,000		Toronto-Dominion Bank	1.200		06/03/26		1,844,668
	1,500,000		Toronto-Dominion Bank	1.250		09/10/26		1,379,098
	1,500,000		Toronto-Dominion Bank	2.000		09/10/31		1,328,906
	1,000,000		Toronto-Dominion Bank	3.625		09/15/31		1,003,748
	500,000		Truist Bank	3.000		02/02/23		503,333
	1,000,000		Truist Bank	3.200		04/01/24		1,011,473
	500,000		Truist Bank	3.689		08/02/24		506,513
	750,000		Truist Bank	2.150		12/06/24		738,042
	1,000,000		Truist Bank	1.500		03/10/25		961,110
	500,000		Truist Bank	3.625		09/16/25		506,064
	200,000		Truist Bank	4.050		11/03/25		206,264
	375,000		Truist Bank	3.300		05/15/26		377,793
	500,000		Truist Bank	3.800		10/30/26		511,930
	750,000		Truist Bank	2.636		09/17/29		737,636
	475,000		Truist Bank	2.250		03/11/30		435,384
	775,000		Truist Financial Corp	3.750		12/06/23		789,558
	1,000,000		Truist Financial Corp	2.500		08/01/24		993,478
	825,000		Truist Financial Corp	2.850		10/26/24		824,388

10

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	900,000	Truist Financial Corp	4.000	%	05/01/25	$	923,544
	975,000	Truist Financial Corp	3.700		06/05/25		990,912
	750,000	Truist Financial Corp	1.200		08/05/25		706,152
	1,300,000	Truist Financial Corp	1.267		03/02/27		1,203,833
	1,000,000	Truist Financial Corp	1.125		08/03/27		897,972
	500,000	Truist Financial Corp	3.875		03/19/29		509,448
	2,000,000	Truist Financial Corp	1.887		06/07/29		1,817,855
	750,000	Truist Financial Corp	1.950		06/05/30		677,041
	125,000	US Bancorp	3.700		01/30/24		127,715
	1,225,000	US Bancorp	3.375		02/05/24		1,241,844
	2,225,000	US Bancorp	3.600		09/11/24		2,261,510
	125,000	US Bancorp	3.950		11/17/25		129,157
	750,000	US Bancorp	3.100		04/27/26		749,880
	700,000	US Bancorp	2.375		07/22/26		682,554
	1,175,000	US Bancorp	3.150		04/27/27		1,183,100
	750,000	US Bancorp	3.900		04/26/28		769,964
	600,000	US Bancorp	3.000		07/30/29		587,990
	2,500,000	US Bancorp	1.375		07/22/30		2,163,794
	1,250,000	US Bank NA	3.400		07/24/23		1,266,714
	750,000	US Bank NA	2.800		01/27/25		749,351
	1,000,000	Valley National Bancorp	3.000		06/15/31		955,664
	125,000	Wachovia Corp	5.500		08/01/35		140,661
	200,000	Webster Financial Corp	4.100		03/25/29		203,810
	800,000	Wells Fargo & Co	4.125		08/15/23		817,819
	334,000	Wells Fargo & Co	4.480		01/16/24		343,950
	1,350,000	Wells Fargo & Co	3.750		01/24/24		1,374,656
	825,000	Wells Fargo & Co	1.654		06/02/24		815,099
	2,700,000	Wells Fargo & Co	3.300		09/09/24		2,728,651
	4,100,000	Wells Fargo & Co	3.000		02/19/25		4,092,163
	1,125,000	Wells Fargo & Co	3.550		09/29/25		1,139,561
	2,000,000	Wells Fargo & Co	2.406		10/30/25		1,957,859
	1,500,000	Wells Fargo & Co	2.164		02/11/26		1,450,903
	3,350,000	Wells Fargo & Co	3.000		04/22/26		3,317,458
	1,000,000	Wells Fargo & Co	2.188		04/30/26		964,643
	1,250,000	Wells Fargo & Co	4.100		06/03/26		1,281,391
	2,575,000	Wells Fargo & Co	3.000		10/23/26		2,539,181
	1,500,000	Wells Fargo & Co	3.196		06/17/27		1,480,245
	1,200,000	Wells Fargo & Co	4.300		07/22/27		1,246,026
	1,300,000	Wells Fargo & Co	3.526		03/24/28		1,297,389
	3,625,000	Wells Fargo & Co	3.584		05/22/28		3,619,107
	5,000,000	Wells Fargo & Co	2.393		06/02/28		4,728,001
	6,175,000	Wells Fargo & Co	4.150		01/24/29		6,405,026
	3,950,000	Wells Fargo & Co	2.879		10/30/30		3,754,232
	3,000,000	Wells Fargo & Co	2.572		02/11/31		2,787,058
	5,000,000	Wells Fargo & Co	4.478		04/04/31		5,294,500
	6,000,000	Wells Fargo & Co	3.350		03/02/33		5,831,056
	7,025,000	Wells Fargo & Co	3.068		04/30/41		6,315,300
	1,050,000	Wells Fargo & Co	5.375		11/02/43		1,217,817
	1,468,000	Wells Fargo & Co	5.606		01/15/44		1,747,309
	475,000	Wells Fargo & Co	4.650		11/04/44		504,976
	1,500,000	Wells Fargo & Co	3.900		05/01/45		1,499,688
	950,000	Wells Fargo & Co	4.900		11/17/45		1,048,471
	3,250,000	Wells Fargo & Co	4.400		06/14/46		3,369,441
	1,975,000	Wells Fargo & Co	4.750		12/07/46		2,147,192
	1,500,000	Wells Fargo & Co	5.013		04/04/51		1,780,156

11

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	250,000		Wells Fargo Bank NA	6.600	%	01/15/38	$	327,415
	1,000,000		Western Alliance Bancorp	3.000		06/15/31		951,590
	300,000		Westpac Banking Corp	2.750		01/11/23		301,850
	750,000		Westpac Banking Corp	3.300		02/26/24		759,993
	2,000,000		Westpac Banking Corp	2.350		02/19/25		1,964,869
	1,000,000		Westpac Banking Corp	2.850		05/13/26		992,624
	2,000,000		Westpac Banking Corp	1.150		06/03/26		1,849,730
	675,000		Westpac Banking Corp	2.700		08/19/26		663,136
	850,000		Westpac Banking Corp	3.350		03/08/27		857,032
	725,000		Westpac Banking Corp	3.400		01/25/28		729,735
	2,000,000		Westpac Banking Corp	1.953		11/20/28		1,842,124
	1,000,000		Westpac Banking Corp	2.894		02/04/30		964,203
	1,500,000	e	Westpac Banking Corp	2.150		06/03/31		1,358,348
	950,000		Westpac Banking Corp	4.322		11/23/31		955,450
	600,000		Westpac Banking Corp	4.110		07/24/34		591,402
	2,350,000		Westpac Banking Corp	2.668		11/15/35		2,052,227
	500,000		Westpac Banking Corp	3.020		11/18/36		444,274
	900,000		Westpac Banking Corp	4.421		07/24/39		919,866
	225,000		Westpac Banking Corp	2.963		11/16/40		189,074
	600,000		Westpac Banking Corp	3.133		11/18/41		514,917
	400,000		Zions Bancorp NA	3.250		10/29/29		382,254
			TOTAL BANKS					859,640,123
CAPITAL GOODS - 1.3%
	600,000		3M Co	3.250		02/14/24		607,846
	1,000,000	e	3M Co	2.000		02/14/25		978,649
	1,200,000		3M Co	3.000		08/07/25		1,204,435
	675,000		3M Co	2.875		10/15/27		664,388
	925,000		3M Co	3.625		09/14/28		946,676
	500,000	e	3M Co	3.375		03/01/29		508,425
	1,000,000		3M Co	2.375		08/26/29		950,975
	200,000		3M Co	3.125		09/19/46		179,762
	300,000		3M Co	3.625		10/15/47		295,702
	1,150,000		3M Co	4.000		09/14/48		1,219,827
	875,000	e	3M Co	3.250		08/26/49		816,437
	820,000		3M Co	3.700		04/15/50		827,675
	1,000,000		Acuity Brands Lighting, Inc	2.150		12/15/30		878,009
	575,000		Air Lease Corp	2.250		01/15/23		575,209
	200,000		Air Lease Corp	2.750		01/15/23		200,580
	750,000		Air Lease Corp	3.875		07/03/23		757,561
	2,000,000		Air Lease Corp	0.700		02/15/24		1,910,601
	750,000		Air Lease Corp	2.300		02/01/25		721,403
	750,000		Air Lease Corp	3.375		07/01/25		739,190
	1,000,000		Air Lease Corp	2.875		01/15/26		965,174
	1,000,000		Air Lease Corp	3.750		06/01/26		994,112
	1,500,000		Air Lease Corp	1.875		08/15/26		1,381,815
	500,000		Air Lease Corp	3.625		04/01/27		490,850
	200,000		Air Lease Corp	3.625		12/01/27		194,566
	2,000,000		Air Lease Corp	2.100		09/01/28		1,748,802
	300,000		Air Lease Corp	4.625		10/01/28		305,485
	500,000		Air Lease Corp	3.250		10/01/29		472,049
	750,000		Air Lease Corp	3.000		02/01/30		690,789
	500,000		Air Lease Corp	3.125		12/01/30		462,260
	200,000		Aircastle Ltd	4.400		09/25/23		200,784
	1,000,000		Aircastle Ltd	4.125		05/01/24		998,351

12

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	500,000	Aircastle Ltd	4.250	%	06/15/26	$	491,904
	500,000	Allegion plc	3.500		10/01/29		483,924
	750,000	Boeing Co	2.800		03/01/23		753,704
	2,100,000	Boeing Co	4.508		05/01/23		2,135,619
	1,500,000	Boeing Co	1.950		02/01/24		1,466,546
	4,000,000	Boeing Co	1.433		02/04/24		3,868,836
	300,000	Boeing Co	2.800		03/01/24		299,631
	5,700,000	Boeing Co	4.875		05/01/25		5,880,518
	400,000	Boeing Co	2.600		10/30/25		387,802
	2,000,000	Boeing Co	2.750		02/01/26		1,937,980
	3,000,000	Boeing Co	2.196		02/04/26		2,836,249
	300,000	Boeing Co	3.100		05/01/26		294,753
	200,000	Boeing Co	2.250		06/15/26		189,042
	500,000	Boeing Co	2.700		02/01/27		479,572
	250,000	Boeing Co	2.800		03/01/27		239,113
	1,900,000	Boeing Co	5.040		05/01/27		2,000,724
	1,500,000	Boeing Co	3.250		02/01/28		1,444,940
	500,000	Boeing Co	3.250		03/01/28		480,182
	125,000	Boeing Co	3.450		11/01/28		120,186
	600,000	Boeing Co	3.200		03/01/29		571,757
	750,000	Boeing Co	2.950		02/01/30		694,921
	1,600,000	Boeing Co	5.150		05/01/30		1,706,333
	1,000,000	Boeing Co	3.625		02/01/31		973,345
	300,000	Boeing Co	3.600		05/01/34		279,820
	425,000	Boeing Co	3.250		02/01/35		379,482
	500,000	Boeing Co	3.550		03/01/38		439,463
	600,000	Boeing Co	3.500		03/01/39		516,409
	350,000	Boeing Co	5.875		02/15/40		389,272
	2,000,000	Boeing Co	5.705		05/01/40		2,234,901
	300,000	Boeing Co	3.375		06/15/46		245,971
	250,000	Boeing Co	3.650		03/01/47		211,946
	100,000	Boeing Co	3.625		03/01/48		84,861
	100,000	Boeing Co	3.850		11/01/48		87,677
	5,000,000	Boeing Co	5.805		05/01/50		5,773,685
	125,000	Boeing Co	3.825		03/01/59		102,663
	750,000	Boeing Co	3.950		08/01/59		649,729
	4,500,000	Boeing Co	5.930		05/01/60		5,195,638
	500,000	Brunswick Corp	4.400		09/15/32		494,320
	500,000	Brunswick Corp	5.100		04/01/52		476,885
	100,000	Carlisle Cos, Inc	3.750		11/15/22		100,559
	200,000	Carlisle Cos, Inc	3.500		12/01/24		201,658
	500,000	Carlisle Cos, Inc	3.750		12/01/27		507,549
	1,000,000	Carlisle Cos, Inc	2.750		03/01/30		931,897
	2,000,000	Carlisle Cos, Inc	2.200		03/01/32		1,742,431
	444,000	Carrier Global Corp	2.493		02/15/27		423,092
	1,100,000	Carrier Global Corp	2.722		02/15/30		1,033,870
	150,000	Carrier Global Corp	2.700		02/15/31		139,973
	2,000,000	Carrier Global Corp	3.377		04/05/40		1,817,926
	900,000	Carrier Global Corp	3.577		04/05/50		823,545
	1,000,000	Caterpillar Financial Services Corp	0.450		09/14/23		974,761
	1,000,000	Caterpillar Financial Services Corp	2.850		05/17/24		1,008,510
	1,000,000	Caterpillar Financial Services Corp	1.450		05/15/25		959,138
	1,000,000	Caterpillar Financial Services Corp	0.800		11/13/25		929,571
	3,000,000	Caterpillar Financial Services Corp	0.900		03/02/26		2,789,303
	500,000	Caterpillar Financial Services Corp	2.400		08/09/26		490,046

13

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	2,000,000		Caterpillar Financial Services Corp	1.150	%	09/14/26	$	1,854,782
	1,000,000		Caterpillar Financial Services Corp	1.700		01/08/27		941,548
	1,000,000		Caterpillar Financial Services Corp	1.100		09/14/27		907,792
	2,775,000		Caterpillar, Inc	3.400		05/15/24		2,821,235
	500,000		Caterpillar, Inc	2.600		09/19/29		485,714
	1,500,000		Caterpillar, Inc	2.600		04/09/30		1,462,807
	1,000,000	e	Caterpillar, Inc	1.900		03/12/31		913,286
	225,000		Caterpillar, Inc	5.200		05/27/41		271,453
	2,363,000		Caterpillar, Inc	3.803		08/15/42		2,438,395
	300,000		Caterpillar, Inc	4.300		05/15/44		326,510
	750,000		Caterpillar, Inc	3.250		09/19/49		728,145
	750,000		Caterpillar, Inc	3.250		04/09/50		729,617
	225,000		CNH Industrial Capital LLC	1.950		07/02/23		222,675
	300,000		CNH Industrial Capital LLC	4.200		01/15/24		305,956
	1,000,000		CNH Industrial Capital LLC	1.875		01/15/26		946,716
	1,000,000		CNH Industrial Capital LLC	1.450		07/15/26		918,199
	500,000		CNH Industrial NV	3.850		11/15/27		501,851
	200,000		Crane Co	4.200		03/15/48		200,029
	200,000		Cummins, Inc	3.650		10/01/23		202,784
	500,000		Cummins, Inc	0.750		09/01/25		464,688
	1,000,000		Cummins, Inc	1.500		09/01/30		867,166
	200,000		Cummins, Inc	4.875		10/01/43		222,544
	750,000		Cummins, Inc	2.600		09/01/50		600,791
	218,000		Deere & Co	5.375		10/16/29		250,864
	500,000		Deere & Co	2.875		09/07/49		458,171
	1,000,000	e	Deere & Co	3.750		04/15/50		1,057,070
	825,000		Dover Corp	3.150		11/15/25		821,994
	100,000		Dover Corp	2.950		11/04/29		97,100
	100,000		Dover Corp	5.375		03/01/41		113,616
	200,000		Eaton Corp	3.103		09/15/27		200,295
	150,000		Eaton Corp	4.000		11/02/32		157,297
	925,000		Eaton Corp	4.150		11/02/42		961,412
	200,000		Eaton Corp	3.915		09/15/47		201,357
	200,000		Emerson Electric Co	3.150		06/01/25		201,833
	1,000,000		Emerson Electric Co	0.875		10/15/26		918,190
	500,000		Emerson Electric Co	1.800		10/15/27		469,155
	500,000		Emerson Electric Co	2.000		12/21/28		467,178
	750,000		Emerson Electric Co	1.950		10/15/30		678,843
	500,000		Emerson Electric Co	2.200		12/21/31		461,140
	200,000		Emerson Electric Co	5.250		11/15/39		231,251
	500,000		Emerson Electric Co	2.750		10/15/50		423,318
	500,000		Emerson Electric Co	2.800		12/21/51		427,918
	500,000		Flowserve Corp	3.500		10/01/30		473,528
	1,000,000		Flowserve Corp	2.800		01/15/32		884,458
	875,000		Fortive Corp	3.150		06/15/26		871,280
	250,000		Fortive Corp	4.300		06/15/46		260,942
	600,000		Fortune Brands Home  & Security, Inc	4.000		09/21/23		611,762
	200,000		Fortune Brands Home  & Security, Inc	4.000		06/15/25		203,485
	1,000,000		Fortune Brands Home  & Security, Inc	3.250		09/15/29		962,308
	200,000		GATX Corp	4.350		02/15/24		204,344
	500,000		GATX Corp	3.250		09/15/26		494,605
	200,000		GATX Corp	3.500		03/15/28		198,859
	200,000		GATX Corp	4.550		11/07/28		209,912
	425,000		GATX Corp	4.700		04/01/29		450,419
	500,000		GATX Corp	4.000		06/30/30		506,869

14

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	1,000,000		GATX Corp	1.900	%	06/01/31	$	852,108
	225,000		GATX Corp	5.200		03/15/44		245,713
	1,000,000		GATX Corp	3.100		06/01/51		830,653
	300,000		General Dynamics Corp	1.875		08/15/23		297,985
	1,200,000		General Dynamics Corp	2.375		11/15/24		1,194,985
	975,000		General Dynamics Corp	3.500		05/15/25		992,260
	3,000,000		General Dynamics Corp	1.150		06/01/26		2,790,689
	750,000		General Dynamics Corp	3.750		05/15/28		769,798
	900,000	e	General Dynamics Corp	2.250		06/01/31		840,173
	2,000,000		General Dynamics Corp	2.850		06/01/41		1,814,745
	225,000		General Dynamics Corp	3.600		11/15/42		224,020
	1,950,000		General Dynamics Corp	4.250		04/01/50		2,194,463
	594,000		General Electric Co	6.750		03/15/32		748,288
	500,000		Honeywell International, Inc	3.350		12/01/23		507,200
	2,300,000		Honeywell International, Inc	1.350		06/01/25		2,215,445
	1,700,000		Honeywell International, Inc	2.500		11/01/26		1,676,924
	2,000,000		Honeywell International, Inc	1.100		03/01/27		1,840,078
	950,000		Honeywell International, Inc	1.950		06/01/30		877,163
	2,000,000		Honeywell International, Inc	1.750		09/01/31		1,781,103
	782,000		Honeywell International, Inc	3.812		11/21/47		842,045
	575,000	e	Honeywell International, Inc	2.800		06/01/50		530,735
	200,000		Hubbell, Inc	3.350		03/01/26		200,775
	500,000		Hubbell, Inc	3.150		08/15/27		495,077
	200,000		Hubbell, Inc	3.500		02/15/28		199,919
	1,000,000		Hubbell, Inc	2.300		03/15/31		909,479
	1,000,000	g	Huntington Ingalls Industries, Inc	0.670		08/16/23		970,211
	500,000		Huntington Ingalls Industries, Inc	3.844		05/01/25		505,341
	400,000		Huntington Ingalls Industries, Inc	3.483		12/01/27		393,808
	700,000	g	Huntington Ingalls Industries, Inc	2.043		08/16/28		632,788
	500,000		Huntington Ingalls Industries, Inc	4.200		05/01/30		520,024
	500,000		IDEX Corp	3.000		05/01/30		472,402
	1,000,000		IDEX Corp	2.625		06/15/31		909,097
	1,000,000		Illinois Tool Works, Inc	2.650		11/15/26		988,878
	200,000		Illinois Tool Works, Inc	4.875		09/15/41		232,257
	1,000,000		Illinois Tool Works, Inc	3.900		09/01/42		1,024,853
	300,000		Ingersoll-Rand Global Holding Co Ltd	4.250		06/15/23		305,388
	400,000		Ingersoll-Rand Global Holding Co Ltd	3.750		08/21/28		400,031
	200,000		Ingersoll-Rand Global Holding Co Ltd	5.750		06/15/43		244,792
	450,000		Ingersoll-Rand Global Holding Co Ltd	4.300		02/21/48		467,762
	600,000		Ingersoll-Rand Luxembourg Finance S.A.	3.550		11/01/24		605,999
	100,000		Ingersoll-Rand Luxembourg Finance S.A.	3.500		03/21/26		100,432
	1,000,000		Ingersoll-Rand Luxembourg Finance S.A.	3.800		03/21/29		1,016,424
	300,000		Ingersoll-Rand Luxembourg Finance S.A.	4.500		03/21/49		319,561
	250,000		John Deere Capital Corp	1.200		04/06/23		247,921
	1,000,000		John Deere Capital Corp	0.400		10/10/23		973,656
	200,000		John Deere Capital Corp	3.650		10/12/23		204,001
	750,000		John Deere Capital Corp	3.450		01/10/24		762,240
	3,000,000		John Deere Capital Corp	0.450		06/07/24		2,857,230
	850,000		John Deere Capital Corp	2.650		06/24/24		851,136
	500,000		John Deere Capital Corp	2.050		01/09/25		490,458
	125,000		John Deere Capital Corp	3.400		09/11/25		126,706
	1,000,000		John Deere Capital Corp	0.700		01/15/26		926,776
	500,000		John Deere Capital Corp	2.250		09/14/26		485,393
	1,000,000		John Deere Capital Corp	1.300		10/13/26		930,421
	1,500,000		John Deere Capital Corp	1.700		01/11/27		1,411,993

15

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	250,000		John Deere Capital Corp	1.750	%	03/09/27	$	235,517
	200,000		John Deere Capital Corp	2.800		09/08/27		196,967
	200,000		John Deere Capital Corp	3.050		01/06/28		198,255
	2,000,000		John Deere Capital Corp	1.500		03/06/28		1,844,863
	500,000		John Deere Capital Corp	2.800		07/18/29		490,869
	500,000		John Deere Capital Corp	2.450		01/09/30		477,893
	1,000,000	e	John Deere Capital Corp	1.450		01/15/31		873,785
	2,000,000		John Deere Capital Corp	2.000		06/17/31		1,836,799
	474,000		Johnson Controls International plc	3.900		02/14/26		485,278
	2,325,000		Johnson Controls International plc	1.750		09/15/30		2,075,701
	1,000,000		Johnson Controls International plc	2.000		09/16/31		877,805
	207,000		Johnson Controls International plc	6.000		01/15/36		253,887
	35,000		Johnson Controls International plc	5.125		09/14/45		39,907
	300,000		Johnson Controls International plc	4.500		02/15/47		315,430
	280,000		Johnson Controls International plc (Step Bond)	3.625		07/02/24		283,629
	325,000		Johnson Controls International plc (Step Bond)	4.625		07/02/44		348,613
	72,000		Johnson Controls International plc (Step Bond)	4.950		07/02/64		75,787
	200,000		Kennametal, Inc	4.625		06/15/28		207,552
	1,000,000		Kennametal, Inc	2.800		03/01/31		911,818
	125,000		KLA-Tencor Corp	4.650		11/01/24		129,513
	300,000		KLA-Tencor Corp	4.100		03/15/29		314,856
	500,000		KLA-Tencor Corp	5.000		03/15/49		597,293
	475,000		L3Harris Technologies, Inc	3.850		06/15/23		481,654
	52,000		L3Harris Technologies, Inc	3.950		05/28/24		52,511
	600,000		L3Harris Technologies, Inc	3.850		12/15/26		611,687
	1,275,000		L3Harris Technologies, Inc	4.400		06/15/28		1,325,927
	625,000		L3Harris Technologies, Inc	4.400		06/15/28		649,964
	175,000		L3Harris Technologies, Inc	2.900		12/15/29		168,217
	1,000,000		L3Harris Technologies, Inc	1.800		01/15/31		868,875
	300,000		L3Harris Technologies, Inc	4.854		04/27/35		325,863
	600,000		L3Harris Technologies, Inc	5.054		04/27/45		676,342
	100,000		Legrand France S.A.	8.500		02/15/25		114,500
	100,000		Lennox International, Inc	3.000		11/15/23		100,111
	100,000		Lennox International, Inc	1.350		08/01/25		93,616
	100,000		Lennox International, Inc	1.700		08/01/27		91,812
	300,000		Lockheed Martin Corp	2.900		03/01/25		301,812
	2,200,000		Lockheed Martin Corp	3.550		01/15/26		2,252,633
	150,000	e	Lockheed Martin Corp	1.850		06/15/30		136,046
	300,000		Lockheed Martin Corp	3.600		03/01/35		303,118
	500,000		Lockheed Martin Corp	4.500		05/15/36		551,699
	1,833,000		Lockheed Martin Corp	4.070		12/15/42		1,956,732
	275,000		Lockheed Martin Corp	3.800		03/01/45		280,803
	200,000		Lockheed Martin Corp	4.700		05/15/46		232,277
	1,150,000	e	Lockheed Martin Corp	2.800		06/15/50		1,006,614
	1,894,000		Lockheed Martin Corp	4.090		09/15/52		2,080,696
	200,000		Masco Corp	3.500		11/15/27		199,683
	200,000		Masco Corp	1.500		02/15/28		176,018
	500,000		Masco Corp	2.000		10/01/30		432,899
	550,000		Masco Corp	2.000		02/15/31		477,091
	700,000		Masco Corp	4.500		05/15/47		722,638
	1,000,000		Masco Corp	3.125		02/15/51		831,537
	400,000		Northrop Grumman Corp	3.250		08/01/23		404,275
	1,000,000		Northrop Grumman Corp	2.930		01/15/25		1,002,227
	300,000		Northrop Grumman Corp	3.200		02/01/27		301,345
	5,275,000		Northrop Grumman Corp	3.250		01/15/28		5,275,240

16

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	425,000	Northrop Grumman Corp	4.400	%	05/01/30	$	455,854
	100,000	Northrop Grumman Corp	5.050		11/15/40		115,389
	700,000	Northrop Grumman Corp	4.750		06/01/43		790,345
	300,000	Northrop Grumman Corp	3.850		04/15/45		298,536
	2,450,000	Northrop Grumman Corp	4.030		10/15/47		2,577,833
	1,000,000	Northrop Grumman Corp	5.250		05/01/50		1,246,144
	100,000	Oshkosh Corp	3.100		03/01/30		92,994
	1,000,000	Otis Worldwide Corp	2.056		04/05/25		973,511
	1,000,000	Otis Worldwide Corp	2.293		04/05/27		941,922
	525,000	Otis Worldwide Corp	2.565		02/15/30		490,661
	500,000	Otis Worldwide Corp	3.112		02/15/40		440,040
	450,000	Otis Worldwide Corp	3.362		02/15/50		398,387
	200,000	Parker-Hannifin Corp	2.700		06/14/24		198,415
	300,000	Parker-Hannifin Corp	3.300		11/21/24		301,705
	650,000	Parker-Hannifin Corp	3.250		03/01/27		649,872
	1,825,000	Parker-Hannifin Corp	3.250		06/14/29		1,801,647
	200,000	Parker-Hannifin Corp	4.200		11/21/34		204,134
	200,000	Parker-Hannifin Corp	4.450		11/21/44		207,634
	750,000	Parker-Hannifin Corp	4.100		03/01/47		746,483
	225,000	Parker-Hannifin Corp	4.000		06/14/49		224,058
	775,000	Precision Castparts Corp	3.250		06/15/25		783,789
	400,000	Precision Castparts Corp	4.200		06/15/35		422,720
	100,000	Precision Castparts Corp	3.900		01/15/43		101,262
	1,000,000	Quanta Services, Inc	2.900		10/01/30		925,215
	600,000	Quanta Services, Inc	2.350		01/15/32		520,858
	1,000,000	Quanta Services, Inc	3.050		10/01/41		822,663
	52,000	Raytheon Technologies Corp	3.650		08/16/23		52,673
	500,000	Raytheon Technologies Corp	3.200		03/15/24		505,438
	300,000	Raytheon Technologies Corp	3.150		12/15/24		301,312
	1,325,000	Raytheon Technologies Corp	3.500		03/15/27		1,342,848
	200,000	Raytheon Technologies Corp	7.200		08/15/27		238,048
	2,550,000	Raytheon Technologies Corp	4.125		11/16/28		2,665,522
	4,500,000	Raytheon Technologies Corp	2.250		07/01/30		4,168,138
	1,500,000	Raytheon Technologies Corp	1.900		09/01/31		1,326,966
	1,000,000	Raytheon Technologies Corp	2.375		03/15/32		918,029
	100,000	Raytheon Technologies Corp	4.700		12/15/41		109,120
	2,150,000	Raytheon Technologies Corp	4.500		06/01/42		2,370,793
	125,000	Raytheon Technologies Corp	4.800		12/15/43		139,223
	150,000	Raytheon Technologies Corp	4.200		12/15/44		150,163
	700,000	Raytheon Technologies Corp	4.350		04/15/47		749,521
	2,000,000	Raytheon Technologies Corp	3.125		07/01/50		1,796,927
	1,000,000	Raytheon Technologies Corp	2.820		09/01/51		840,991
	1,000,000	Raytheon Technologies Corp	3.030		03/15/52		876,128
	400,000	Rockwell Automation, Inc	3.500		03/01/29		412,798
	150,000	Rockwell Automation, Inc	1.750		08/15/31		132,104
	400,000	Rockwell Automation, Inc	4.200		03/01/49		429,870
	1,000,000	Rockwell Automation, Inc	2.800		08/15/61		806,233
	500,000	Roper Technologies, Inc	3.650		09/15/23		506,949
	500,000	Roper Technologies, Inc	2.350		09/15/24		492,055
	750,000	Roper Technologies, Inc	1.000		09/15/25		695,844
	1,100,000	Roper Technologies, Inc	3.800		12/15/26		1,125,976
	750,000	Roper Technologies, Inc	1.400		09/15/27		679,661
	300,000	Roper Technologies, Inc	4.200		09/15/28		310,518
	500,000	Roper Technologies, Inc	2.950		09/15/29		481,948
	475,000	Roper Technologies, Inc	2.000		06/30/30		421,684

17

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	750,000		Roper Technologies, Inc	1.750	%	02/15/31	$	647,910
	200,000		Snap-on, Inc	3.250		03/01/27		202,113
	200,000		Snap-on, Inc	4.100		03/01/48		210,468
	500,000		Snap-on, Inc	3.100		05/01/50		458,482
	500,000		Stanley Black & Decker, Inc	3.400		03/01/26		505,798
	300,000		Stanley Black & Decker, Inc	4.250		11/15/28		313,834
	1,000,000		Stanley Black & Decker, Inc	2.300		03/15/30		922,009
	1,000,000		Stanley Black & Decker, Inc	3.000		05/15/32		966,159
	100,000		Stanley Black & Decker, Inc	5.200		09/01/40		114,561
	425,000		Stanley Black & Decker, Inc	4.850		11/15/48		490,042
	1,500,000		Stanley Black & Decker, Inc	2.750		11/15/50		1,249,422
	450,000		Stanley Black & Decker, Inc	4.000		03/15/60		445,379
	2,000,000		Teledyne Technologies, Inc	1.600		04/01/26		1,863,177
	1,000,000		Teledyne Technologies, Inc	2.250		04/01/28		927,648
	1,000,000		Teledyne Technologies, Inc	2.750		04/01/31		926,623
	150,000		Textron, Inc	4.000		03/15/26		153,036
	500,000		Textron, Inc	3.650		03/15/27		500,927
	100,000		Textron, Inc	3.375		03/01/28		98,844
	750,000		Textron, Inc	3.900		09/17/29		763,237
	500,000		Textron, Inc	3.000		06/01/30		477,154
	300,000		Textron, Inc	2.450		03/15/31		271,608
	250,000		Timken Co	3.875		09/01/24		251,553
	200,000		Timken Co	4.500		12/15/28		205,207
	1,000,000		Timken Co	4.125		04/01/32		993,493
	100,000		Trimble, Inc	4.150		06/15/23		101,388
	625,000		Trimble, Inc	4.900		06/15/28		647,299
	1,250,000		United Technologies Corp	3.950		08/16/25		1,289,413
	725,000		United Technologies Corp	3.125		05/04/27		727,161
	750,000		United Technologies Corp	4.450		11/16/38		813,394
	1,650,000		United Technologies Corp	4.150		05/15/45		1,690,299
	3,325,000		United Technologies Corp	4.625		11/16/48		3,757,584
	200,000		Valmont Industries, Inc	5.000		10/01/44		212,195
	200,000		Valmont Industries, Inc	5.250		10/01/54		217,600
	1,000,000		Vontier Corp	1.800		04/01/26		904,210
	1,000,000		Vontier Corp	2.400		04/01/28		879,200
	1,000,000		Vontier Corp	2.950		04/01/31		888,050
	600,000		Wabtec Corp	4.400		03/15/24		611,071
	300,000		Wabtec Corp	3.450		11/15/26		293,632
	875,000		Wabtec Corp	4.950		09/15/28		920,899
	500,000		Westinghouse Air Brake Technologies Corp	3.200		06/15/25		488,119
	750,000		WW Grainger, Inc	1.850		02/15/25		727,764
	800,000		WW Grainger, Inc	4.600		06/15/45		878,382
	200,000		WW Grainger, Inc	3.750		05/15/46		198,979
	125,000		WW Grainger, Inc	4.200		05/15/47		133,124
	775,000		Xylem, Inc	3.250		11/01/26		775,234
	225,000		Xylem, Inc	1.950		01/30/28		208,234
	150,000		Xylem, Inc	2.250		01/30/31		136,251
	100,000		Xylem, Inc	4.375		11/01/46		103,680
			TOTAL CAPITAL GOODS					277,477,653
COMMERCIAL & PROFESSIONAL SERVICES - 0.2%
	1,000,000		Air Lease Corp	2.200		01/15/27		925,471
	1,000,000		Air Lease Corp	2.875		01/15/32		895,336
	750,000		BayCare Health System, Inc	3.831		11/15/50		765,428
	225,000	g	Daimler Finance North America LLC	3.650		02/22/24		227,108
	925,000		Daimler Finance North America LLC	8.500		01/18/31		1,246,282

18

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	200,000		Equifax, Inc	3.300	%	12/15/22	$	201,049
	200,000		Equifax, Inc	3.950		06/15/23		201,992
	750,000		Equifax, Inc	2.600		12/01/24		740,777
	125,000		Equifax, Inc	2.600		12/15/25		121,390
	100,000		Equifax, Inc	3.100		05/15/30		95,368
	3,000,000		Equifax, Inc	2.350		09/15/31		2,683,304
	7,000,000	e	European Investment Bank	1.375		03/15/27		6,637,376
	500,000		Fortune Brands Home  & Security, Inc	4.000		03/25/32		500,770
	500,000		Fortune Brands Home  & Security, Inc	4.500		03/25/52		489,356
	5,000,000		International Bank for Reconstruction & Development	2.500		03/29/32		4,970,382
	500,000		Leidos, Inc	2.950		05/15/23		501,075
	500,000		Leidos, Inc	3.625		05/15/25		499,875
	100,000		Leidos, Inc	4.375		05/15/30		101,115
	1,000,000		Leidos, Inc	2.300		02/15/31		866,850
	380,000		MidMichigan Health	3.409		06/01/50		333,477
	1,000,000		Moody’s Corp	3.750		02/25/52		985,568
	100,000		Partners Healthcare System, Inc	3.765		07/01/48		100,076
	750,000		Partners Healthcare System, Inc	3.192		07/01/49		674,995
	100,000		Partners Healthcare System, Inc	4.117		07/01/55		106,711
	1,000,000		Partners Healthcare System, Inc	3.342		07/01/60		905,788
	725,000		RELX Capital, Inc	3.500		03/16/23		731,212
	625,000		RELX Capital, Inc	4.000		03/18/29		641,090
	100,000		RELX Capital, Inc	3.000		05/22/30		95,543
	750,000		Republic Services, Inc	3.200		03/15/25		753,468
	275,000		Republic Services, Inc	0.875		11/15/25		252,944
	900,000		Republic Services, Inc	2.900		07/01/26		893,183
	100,000		Republic Services, Inc	3.375		11/15/27		100,363
	500,000		Republic Services, Inc	2.300		03/01/30		460,737
	1,000,000		Republic Services, Inc	1.450		02/15/31		849,443
	575,000		Republic Services, Inc	1.750		02/15/32		493,627
	1,000,000		Republic Services, Inc	2.375		03/15/33		897,774
	1,000,000		Republic Services, Inc	3.050		03/01/50		874,560
	880,000		Rockefeller Foundation	2.492		10/01/50		734,541
	300,000		Steelcase, Inc	5.125		01/18/29		314,306
	600,000		Thomson Reuters Corp	4.300		11/23/23		612,454
	1,200,000		Thomson Reuters Corp	3.350		05/15/26		1,204,021
	145,000		Thomson Reuters Corp	5.850		04/15/40		176,610
	200,000		Thomson Reuters Corp	5.650		11/23/43		240,838
	1,000,000		Triton Container International Ltd	3.250		03/15/32		921,130
	500,000		Verisk Analytics, Inc	4.000		06/15/25		510,311
	850,000		Verisk Analytics, Inc	4.125		03/15/29		876,452
	300,000		Verisk Analytics, Inc	5.500		06/15/45		348,616
	200,000		Verisk Analytics, Inc	3.625		05/15/50		188,214
	750,000		Waste Connections, Inc	3.500		05/01/29		752,369
	500,000		Waste Connections, Inc	2.600		02/01/30		470,374
	700,000		Waste Connections, Inc	2.200		01/15/32		625,480
	100,000		Waste Connections, Inc	3.200		06/01/32		97,575
	500,000		Waste Connections, Inc	3.050		04/01/50		428,640
	575,000		Waste Connections, Inc	2.950		01/15/52		489,994
	1,225,000		Waste Management, Inc	3.150		11/15/27		1,227,329
	500,000		Waste Management, Inc	1.150		03/15/28		446,852
	1,000,000	e	Waste Management, Inc	2.000		06/01/29		930,075
	1,000,000		Waste Management, Inc	1.500		03/15/31		860,625
	1,000,000		Waste Management, Inc	2.950		06/01/41		904,039
	250,000		Waste Management, Inc	2.500		11/15/50		201,460
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES					46,383,168

19

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
CONSUMER DURABLES & APPAREL - 0.1%
$	500,000	Brunswick Corp	0.850	%	08/18/24	$	472,657
	1,000,000	Brunswick Corp	2.400		08/18/31		846,910
	161,000	Coach, Inc	4.125		07/15/27		162,678
	750,000	DR Horton, Inc	2.500		10/15/24		739,515
	500,000	DR Horton, Inc	2.600		10/15/25		485,123
	1,000,000	DR Horton, Inc	1.300		10/15/26		908,744
	1,000,000	DR Horton, Inc	1.400		10/15/27		893,031
	750,000	Hasbro, Inc	3.550		11/19/26		745,192
	775,000	Hasbro, Inc	3.500		09/15/27		767,267
	1,000,000	Hasbro, Inc	3.900		11/19/29		1,003,454
	100,000	Hasbro, Inc	6.350		03/15/40		121,089
	200,000	Hasbro, Inc	5.100		05/15/44		214,890
	475,000	Leggett & Platt, Inc	3.500		11/15/27		468,855
	350,000	Leggett & Platt, Inc	4.400		03/15/29		363,602
	1,000,000	Leggett & Platt, Inc	3.500		11/15/51		883,313
	1,900,000	Lennar Corp	4.750		11/29/27		1,979,286
	500,000	MDC Holdings, Inc	3.966		08/06/61		386,305
	100,000	Mohawk Industries, Inc	3.850		02/01/23		100,720
	750,000	Mohawk Industries, Inc	3.625		05/15/30		736,644
	650,000	NIKE, Inc	2.375		11/01/26		636,674
	300,000	NIKE, Inc	3.625		05/01/43		298,694
	825,000	NIKE, Inc	3.875		11/01/45		859,723
	200,000	NIKE, Inc	3.375		11/01/46		193,927
	2,440,000	NIKE, Inc	3.375		03/27/50		2,424,650
	1,000,000	NVR, Inc	3.000		05/15/30		933,333
	200,000	Ralph Lauren Corp	3.750		09/15/25		204,266
	1,000,000	Ralph Lauren Corp	2.950		06/15/30		964,391
	450,000	Tapestry, Inc	3.050		03/15/32		408,949
	400,000	VF Corp	2.400		04/23/25		391,138
	1,000,000	VF Corp	2.800		04/23/27		982,207
	200,000	VF Corp	2.950		04/23/30		190,362
	100,000	Whirlpool Corp	3.700		03/01/23		100,955
	100,000	Whirlpool Corp	4.000		03/01/24		101,630
	925,000	Whirlpool Corp	4.750		02/26/29		988,564
	500,000	Whirlpool Corp	2.400		05/15/31		455,004
	200,000	Whirlpool Corp	4.500		06/01/46		205,235
	775,000	Whirlpool Corp	4.600		05/15/50		813,229
		TOTAL CONSUMER DURABLES & APPAREL					23,432,206
CONSUMER SERVICES - 0.6%
	14,500,000	Anheuser-Busch Cos LLC	3.650		02/01/26		14,819,177
	3,150,000	Anheuser-Busch Cos LLC	4.700		02/01/36		3,378,424
	11,375,000	Anheuser-Busch Cos LLC	4.900		02/01/46		12,650,648
	200,000	Block Financial LLC	5.500		11/01/22		200,592
	200,000	Block Financial LLC	5.250		10/01/25		208,772
	1,000,000	Block Financial LLC	2.500		07/15/28		912,309
	750,000	Block Financial LLC	3.875		08/15/30		736,641
	300,000	Board of Trustees of The Leland Stanford Junior University	3.647		05/01/48		310,894
	300,000	Booking Holdings, Inc	3.650		03/15/25		305,080
	300,000	Booking Holdings, Inc	3.600		06/01/26		305,383
	900,000	Booking Holdings, Inc	3.550		03/15/28		907,699
	1,100,000	Booking Holdings, Inc	4.625		04/13/30		1,193,043
	1,000,000	California Endowment	2.498		04/01/51		823,343

20

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	500,000		Choice Hotels International, Inc	3.700	%	12/01/29	$	489,296
	675,000		Cintas Corp No 2	3.700		04/01/27		691,107
	1,000,000		Claremont McKenna College	3.775		01/01/22		851,760
	500,000		CommonSpirit Health	2.950		11/01/22		502,554
	750,000		CommonSpirit Health	2.760		10/01/24		744,099
	1,000,000		CommonSpirit Health	3.347		10/01/29		970,898
	1,000,000		CommonSpirit Health	2.782		10/01/30		931,945
	300,000		CommonSpirit Health	4.350		11/01/42		301,415
	750,000		CommonSpirit Health	3.817		10/01/49		734,966
	715,000		CommonSpirit Health	4.187		10/01/49		711,464
	500,000		CommonSpirit Health	3.910		10/01/50		476,356
	200,000	e	Darden Restaurants, Inc	3.850		05/01/27		202,788
	300,000		Darden Restaurants, Inc	4.550		02/15/48		288,060
	500,000		Emory University	2.143		09/01/30		468,610
	500,000		Emory University	2.969		09/01/50		443,549
	500,000		Expedia Group, Inc	3.600		12/15/23		504,134
	300,000		Expedia Group, Inc	4.500		08/15/24		307,926
	1,200,000		Expedia Group, Inc	5.000		02/15/26		1,256,588
	750,000		Expedia Group, Inc	4.625		08/01/27		779,060
	175,000		Expedia Group, Inc	3.800		02/15/28		174,072
	750,000		Expedia Group, Inc	3.250		02/15/30		713,907
	1,000,000		Expedia Group, Inc	2.950		03/15/31		925,846
	2,000,000		Howard University	5.209		10/01/52		1,958,461
	200,000		Hyatt Hotels Corp	3.375		07/15/23		200,166
	1,000,000		Hyatt Hotels Corp	1.800		10/01/24		962,141
	100,000		Hyatt Hotels Corp	5.375		04/23/25		104,971
	100,000		Hyatt Hotels Corp	4.850		03/15/26		103,354
	200,000		Hyatt Hotels Corp	4.375		09/15/28		199,319
	1,100,000		Hyatt Hotels Corp	5.750		04/23/30		1,215,431
	750,000		Johns Hopkins University	2.813		01/01/60		625,110
	1,000,000		Las Vegas Sands Corp	3.200		08/08/24		954,690
	500,000		Las Vegas Sands Corp	2.900		06/25/25		465,935
	625,000		Las Vegas Sands Corp	3.500		08/18/26		588,802
	750,000		Las Vegas Sands Corp	3.900		08/08/29		687,751
	500,000		Leland Stanford Junior University	1.289		06/01/27		459,580
	1,000,000		Leland Stanford Junior University	2.413		06/01/50		839,172
	300,000		Marriott International, Inc	4.150		12/01/23		305,535
	300,000		Marriott International, Inc	3.600		04/15/24		303,077
	14,000		Marriott International, Inc	5.750		05/01/25		14,864
	1,250,000		Marriott International, Inc	4.000		04/15/28		1,251,996
	300,000		Marriott International, Inc	4.650		12/01/28		308,321
	400,000		Marriott International, Inc	4.625		06/15/30		414,276
	1,000,000		Marriott International, Inc	2.850		04/15/31		912,693
	1,500,000		Marriott International, Inc	3.500		10/15/32		1,427,803
	2,000,000		Marriott International, Inc	2.750		10/15/33		1,765,047
	1,500,000		Massachusetts Institute of Technology	2.989		07/01/50		1,391,580
	1,000,000		Massachusetts Institute of Technology	2.294		07/01/51		814,886
	1,000,000		Massachusetts Institute of Technology	3.067		04/01/52		945,361
	750,000		Massachusetts Institute of Technology	5.600		07/01/11		1,040,963
	200,000		Massachusetts Institute of Technology	4.678		07/01/14		229,419
	300,000		Massachusetts Institute of Technology	3.885		07/01/16		292,011
	650,000		McDonald’s Corp	3.350		04/01/23		658,057
	150,000		McDonald’s Corp	1.450		09/01/25		143,378
	2,950,000		McDonald’s Corp	3.700		01/30/26		3,020,600
	300,000		McDonald’s Corp	3.500		03/01/27		305,256

21

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	775,000		McDonald’s Corp	3.800	%	04/01/28	$	797,387
	1,250,000	e	McDonald’s Corp	2.625		09/01/29		1,188,865
	500,000		McDonald’s Corp	2.125		03/01/30		454,903
	2,225,000		McDonald’s Corp	4.700		12/09/35		2,419,182
	250,000		McDonald’s Corp	6.300		10/15/37		320,477
	100,000		McDonald’s Corp	6.300		03/01/38		127,219
	250,000		McDonald’s Corp	4.600		05/26/45		265,845
	1,275,000		McDonald’s Corp	4.875		12/09/45		1,417,449
	725,000		McDonald’s Corp	4.450		03/01/47		778,598
	625,000		McDonald’s Corp	4.450		09/01/48		672,092
	1,825,000		McDonald’s Corp	3.625		09/01/49		1,747,384
	1,350,000		McDonald’s Corp	4.200		04/01/50		1,409,273
	735,000		Nature Conservancy	3.957		03/01/52		758,591
	750,000		Northeastern University	2.894		10/01/50		647,789
	200,000		Northwestern University	3.868		12/01/48		212,493
	750,000		Northwestern University	2.640		12/01/50		632,697
	200,000		Northwestern University	3.662		12/01/57		218,113
	1,000,000		Novant Health, Inc	2.637		11/01/36		880,137
	1,000,000		Novant Health, Inc	3.318		11/01/61		872,015
	1,000,000		President & Fellows of Harvard College	2.517		10/15/50		858,168
	750,000		President and Fellows of Harvard College	3.619		10/01/37		786,436
	200,000		President and Fellows of Harvard College	3.150		07/15/46		192,364
	200,000		President and Fellows of Harvard College	3.300		07/15/56		198,638
	2,800,000		Sands China Ltd	5.125		08/08/25		2,775,500
	1,100,000		Sands China Ltd	5.400		08/08/28		1,078,242
	525,000		Starbucks Corp	3.850		10/01/23		533,987
	175,000		Starbucks Corp	2.450		06/15/26		170,637
	500,000		Starbucks Corp	2.000		03/12/27		472,890
	750,000		Starbucks Corp	3.500		03/01/28		752,028
	650,000		Starbucks Corp	4.000		11/15/28		670,830
	750,000		Starbucks Corp	3.550		08/15/29		752,483
	500,000		Starbucks Corp	2.250		03/12/30		457,696
	1,500,000		Starbucks Corp	2.550		11/15/30		1,397,055
	2,000,000		Starbucks Corp	3.000		02/14/32		1,907,245
	200,000		Starbucks Corp	4.300		06/15/45		202,175
	200,000		Starbucks Corp	3.750		12/01/47		188,849
	650,000		Starbucks Corp	4.500		11/15/48		693,261
	1,000,000		Starbucks Corp	4.450		08/15/49		1,068,744
	500,000		Starbucks Corp	3.350		03/12/50		450,184
	1,000,000		Starbucks Corp	3.500		11/15/50		929,171
	1,000,000		Thomas Jefferson University	3.847		11/01/57		937,101
	200,000		Trinity Acquisition plc	4.400		03/15/26		206,615
	500,000		Trustees of Boston College	3.129		07/01/52		473,582
	100,000		Trustees of Boston University	4.061		10/01/48		106,601
	1,000,000		Trustees of Princeton University	2.516		07/01/50		843,639
	1,000,000		University of Chicago	3.000		10/01/52		891,626
	1,000,000		University of Miami	4.063		04/01/52		1,000,000
	1,000,000		University of Southern California	2.945		10/01/51		887,706
	1,000,000		University of Southern California	3.226		10/01/20		824,461
	1,000,000		Washington University	3.524		04/15/54		1,000,000
	500,000		Washington University	4.349		04/15/22		500,000
	200,000		Wesleyan University	4.781		07/01/16		222,978
	500,000		Yale University	0.873		04/15/25		474,510
	750,000		Yale University	1.482		04/15/30		676,208
	750,000		Yale University	2.402		04/15/50		622,739
			TOTAL CONSUMER SERVICES					117,157,269

22

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
DIVERSIFIED FINANCIALS - 2.6%
$	200,000	AerCap Ireland Capital DAC	3.300	%	01/23/23	$	200,588
	300,000	AerCap Ireland Capital DAC	4.125		07/03/23		301,786
	1,500,000	AerCap Ireland Capital DAC	4.500		09/15/23		1,511,277
	600,000	AerCap Ireland Capital DAC	4.875		01/16/24		608,106
	1,000,000	AerCap Ireland Capital DAC	3.150		02/15/24		983,878
	750,000	AerCap Ireland Capital DAC	2.875		08/14/24		729,398
	2,000,000	AerCap Ireland Capital DAC	1.650		10/29/24		1,888,818
	2,000,000	AerCap Ireland Capital DAC	1.750		10/29/24		1,884,566
	1,675,000	AerCap Ireland Capital DAC	3.500		01/15/25		1,645,628
	300,000	AerCap Ireland Capital DAC	4.450		10/01/25		301,020
	500,000	AerCap Ireland Capital DAC	1.750		01/30/26		458,725
	500,000	AerCap Ireland Capital DAC	4.450		04/03/26		505,012
	1,500,000	AerCap Ireland Capital DAC	2.450		10/29/26		1,387,428
	250,000	AerCap Ireland Capital DAC	3.650		07/21/27		242,230
	1,000,000	AerCap Ireland Capital DAC	4.625		10/15/27		1,019,509
	200,000	AerCap Ireland Capital DAC	3.875		01/23/28		194,932
	1,450,000	AerCap Ireland Capital DAC	3.000		10/29/28		1,337,171
	700,000	AerCap Ireland Capital DAC	3.300		01/30/32		631,022
	2,000,000	AerCap Ireland Capital DAC	3.400		10/29/33		1,792,585
	300,000	AerCap Ireland Capital DAC	3.850		10/29/41		263,083
	200,000	Affiliated Managers Group, Inc	4.250		02/15/24		204,865
	1,000,000	Affiliated Managers Group, Inc	3.300		06/15/30		974,407
	20,000	Ahold Finance USA LLC	6.875		05/01/29		23,994
	1,000,000	Ally Financial, Inc	3.050		06/05/23		1,003,651
	2,000,000	Ally Financial, Inc	1.450		10/02/23		1,953,034
	500,000	Ally Financial, Inc	5.800		05/01/25		530,359
	1,000,000	Ally Financial, Inc	2.200		11/02/28		903,367
	2,000,000	Ally Financial, Inc	8.000		11/01/31		2,508,657
	5,000,000	American Express Co	3.400		02/27/23		5,060,435
	2,000,000	American Express Co	3.700		08/03/23		2,036,788
	750,000	American Express Co	3.000		10/30/24		752,874
	1,000,000	American Express Co	4.200		11/06/25		1,041,348
	2,500,000	American Express Co	3.125		05/20/26		2,508,131
	2,000,000	American Express Co	1.650		11/04/26		1,885,112
	1,500,000	American Express Co	2.550		03/04/27		1,458,486
	525,000	American Express Co	4.050		12/03/42		553,339
	325,000	American Honda Finance Corp	2.050		01/10/23		325,950
	1,250,000	American Honda Finance Corp	0.875		07/07/23		1,228,729
	300,000	American Honda Finance Corp	3.450		07/14/23		303,705
	750,000	American Honda Finance Corp	0.650		09/08/23		730,962
	500,000	American Honda Finance Corp	3.625		10/10/23		506,724
	300,000	American Honda Finance Corp	3.550		01/12/24		304,652
	200,000	American Honda Finance Corp	2.900		02/16/24		200,463
	1,000,000	American Honda Finance Corp	2.400		06/27/24		992,969
	1,000,000	American Honda Finance Corp	0.550		07/12/24		953,685
	500,000	American Honda Finance Corp	2.150		09/10/24		492,429
	1,000,000	American Honda Finance Corp	1.200		07/08/25		942,339
	750,000	American Honda Finance Corp	1.000		09/10/25		698,411
	3,000,000	American Honda Finance Corp	1.300		09/09/26		2,784,042
	100,000	American Honda Finance Corp	2.300		09/09/26		96,701
	1,000,000	American Honda Finance Corp	2.350		01/08/27		967,687
	500,000	American Honda Finance Corp	3.500		02/15/28		505,178
	1,000,000	American Honda Finance Corp	2.250		01/12/29		932,463

23

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	1,500,000		American Honda Finance Corp	1.800	%	01/13/31	$	1,329,861
	875,000		Ameriprise Financial, Inc	4.000		10/15/23		892,880
	300,000		Ameriprise Financial, Inc	3.700		10/15/24		304,420
	125,000		Ameriprise Financial, Inc	3.000		04/02/25		124,521
	200,000		Ameriprise Financial, Inc	2.875		09/15/26		197,566
	1,000,000		Andrew W Mellon Foundation	0.947		08/01/27		905,825
	600,000		Ares Capital Corp	3.500		02/10/23		603,199
	850,000		Ares Capital Corp	4.200		06/10/24		856,144
	500,000		Ares Capital Corp	4.250		03/01/25		499,746
	500,000		Ares Capital Corp	3.250		07/15/25		485,034
	1,200,000		Ares Capital Corp	3.875		01/15/26		1,177,171
	1,500,000		Ares Capital Corp	2.150		07/15/26		1,355,604
	1,000,000		Ares Capital Corp	2.875		06/15/27		909,780
	1,500,000		Ares Capital Corp	2.875		06/15/28		1,327,952
	750,000		Ares Capital Corp	3.200		11/15/31		635,592
	227,000		AXA Equitable Holdings, Inc	3.900		04/20/23		230,050
	1,375,000		AXA Equitable Holdings, Inc	4.350		04/20/28		1,404,477
	975,000		AXA Equitable Holdings, Inc	5.000		04/20/48		1,042,287
	2,000,000		Bank of Montreal	2.650		03/08/27		1,934,162
	2,000,000		Bank of Montreal	3.088		01/10/37		1,817,339
	825,000		Bank of New York Mellon Corp	2.200		08/16/23		823,885
	1,000,000		Bank of New York Mellon Corp	0.350		12/07/23		966,828
	350,000		Bank of New York Mellon Corp	3.650		02/04/24		356,150
	800,000		Bank of New York Mellon Corp	3.250		09/11/24		808,719
	1,750,000		Bank of New York Mellon Corp	2.100		10/24/24		1,726,159
	500,000		Bank of New York Mellon Corp	3.000		02/24/25		502,096
	725,000		Bank of New York Mellon Corp	1.600		04/24/25		698,855
	1,500,000		Bank of New York Mellon Corp	0.750		01/28/26		1,386,954
	500,000		Bank of New York Mellon Corp	2.800		05/04/26		501,139
	500,000		Bank of New York Mellon Corp	2.450		08/17/26		491,752
	300,000		Bank of New York Mellon Corp	3.250		05/16/27		303,081
	1,000,000		Bank of New York Mellon Corp	3.400		01/29/28		1,013,922
	600,000		Bank of New York Mellon Corp	3.850		04/28/28		623,743
	2,000,000		Bank of New York Mellon Corp	1.650		07/14/28		1,825,191
	400,000		Bank of New York Mellon Corp	3.300		08/23/29		397,972
	1,500,000		Bank of New York Mellon Corp	1.650		01/28/31		1,327,386
	1,000,000		Bank of New York Mellon Corp	1.800		07/28/31		884,584
	1,000,000		Bank of Nova Scotia	1.950		02/02/27		945,161
	1,000,000	e	Bank of Nova Scotia	2.450		02/02/32		920,218
	1,000,000	g	Barings BDC, Inc	3.300		11/23/26		923,332
	2,400,000		Berkshire Hathaway, Inc	3.125		03/15/26		2,422,212
	800,000		Berkshire Hathaway, Inc	4.500		02/11/43		877,391
	250,000		BGC Partners, Inc	5.375		07/24/23		255,721
	500,000		BGC Partners, Inc	3.750		10/01/24		495,827
	1,000,000		BlackRock TCP Capital Corp	2.850		02/09/26		935,436
	500,000		BlackRock, Inc	3.500		03/18/24		510,075
	850,000		BlackRock, Inc	3.250		04/30/29		862,847
	1,450,000		BlackRock, Inc	1.900		01/28/31		1,309,356
	2,000,000		BlackRock, Inc	2.100		02/25/32		1,812,563
	1,025,000		BPCE S.A.	4.000		04/15/24		1,042,764
	300,000		BPCE S.A.	3.375		12/02/26		297,096
	300,000		Brookfield Asset Management, Inc	4.000		01/15/25		303,615
	1,000,000		Brookfield Finance LLC	3.450		04/15/50		878,089
	550,000		Brookfield Finance, Inc	4.000		04/01/24		558,273
	200,000		Brookfield Finance, Inc	4.250		06/02/26		206,076

24

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	600,000		Brookfield Finance, Inc	3.900	%	01/25/28	$	602,540
	600,000		Brookfield Finance, Inc	4.850		03/29/29		639,534
	725,000		Brookfield Finance, Inc	4.700		09/20/47		768,425
	1,000,000		Brookfield Finance, Inc	3.500		03/30/51		889,229
	1,500,000	h	Canadian Imperial Bank of Commerce	3.450		04/07/27		1,497,021
	1,500,000	h	Canadian Imperial Bank of Commerce	3.600		04/07/32		1,492,895
	1,925,000		Capital One Financial Corp	3.200		01/30/23		1,941,358
	500,000		Capital One Financial Corp	2.600		05/11/23		501,480
	150,000		Capital One Financial Corp	3.500		06/15/23		151,727
	300,000		Capital One Financial Corp	3.900		01/29/24		304,686
	750,000		Capital One Financial Corp	3.300		10/30/24		754,082
	125,000		Capital One Financial Corp	3.200		02/05/25		125,112
	625,000		Capital One Financial Corp	4.250		04/30/25		641,897
	850,000		Capital One Financial Corp	4.200		10/29/25		869,429
	700,000		Capital One Financial Corp	3.750		07/28/26		703,429
	1,075,000		Capital One Financial Corp	3.750		03/09/27		1,083,466
	1,000,000		Capital One Financial Corp	3.650		05/11/27		1,001,233
	1,000,000		Capital One Financial Corp	1.878		11/02/27		922,698
	2,700,000		Capital One Financial Corp	3.800		01/31/28		2,716,964
	2,000,000		Capital One Financial Corp	3.273		03/01/30		1,931,111
	3,525,000		Capital One Financial Corp	2.359		07/29/32		3,033,108
	1,000,000		Capital One Financial Corp	2.618		11/02/32		900,461
	1,000,000		Cboe Global Markets, Inc	1.625		12/15/30		872,287
	500,000		Cboe Global Markets, Inc	3.000		03/16/32		484,261
	450,000		CBOE Holdings, Inc	3.650		01/12/27		457,896
	200,000		Celanese US Holdings LLC	3.500		05/08/24		200,514
	1,000,000		Celanese US Holdings LLC	1.400		08/05/26		900,593
	300,000		Charles Schwab Corp	3.550		02/01/24		304,997
	300,000		Charles Schwab Corp	3.750		04/01/24		305,091
	200,000		Charles Schwab Corp	3.000		03/10/25		200,291
	350,000		Charles Schwab Corp	3.625		04/01/25		355,377
	1,250,000		Charles Schwab Corp	3.850		05/21/25		1,277,144
	1,500,000		Charles Schwab Corp	0.900		03/11/26		1,386,778
	1,500,000		Charles Schwab Corp	1.150		05/13/26		1,396,764
	500,000		Charles Schwab Corp	3.200		03/02/27		503,087
	350,000		Charles Schwab Corp	2.450		03/03/27		339,770
	525,000		Charles Schwab Corp	3.300		04/01/27		528,478
	200,000		Charles Schwab Corp	3.200		01/25/28		198,897
	2,000,000		Charles Schwab Corp	2.000		03/20/28		1,871,916
	300,000		Charles Schwab Corp	4.000		02/01/29		312,796
	500,000		Charles Schwab Corp	2.750		10/01/29		481,641
	1,500,000		Charles Schwab Corp	1.650		03/11/31		1,309,892
	1,500,000		Charles Schwab Corp	2.300		05/13/31		1,384,134
	1,000,000		Charles Schwab Corp	1.950		12/01/31		883,961
	1,000,000		Charles Schwab Corp	2.900		03/03/32		962,805
	1,500,000		CI Financial Corp	3.200		12/17/30		1,366,959
	1,000,000		CI Financial Corp	4.100		06/15/51		882,050
	475,000		CME Group, Inc	3.000		03/15/25		478,213
	500,000		CME Group, Inc	3.750		06/15/28		512,397
	1,500,000		CME Group, Inc	2.650		03/15/32		1,435,269
	400,000		CME Group, Inc	5.300		09/15/43		488,493
	500,000		CME Group, Inc	4.150		06/15/48		542,191
	2,000,000		Credit Suisse AG.	0.495		02/02/24		1,913,539
	2,900,000		Credit Suisse AG.	3.625		09/09/24		2,933,266
	500,000		Credit Suisse AG.	2.950		04/09/25		494,507
	1,000,000		Credit Suisse AG.	1.250		08/07/26		911,896

25

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	1,275,000		Credit Suisse Group Funding Guernsey Ltd	3.800	%	06/09/23	$	1,286,690
	2,300,000		Credit Suisse Group Funding Guernsey Ltd	3.750		03/26/25		2,291,491
	2,750,000		Credit Suisse Group Funding Guernsey Ltd	4.550		04/17/26		2,797,508
	1,750,000		Credit Suisse Group Funding Guernsey Ltd	4.875		05/15/45		1,812,504
	750,000		Deutsche Bank AG.	3.950		02/27/23		757,262
	525,000		Deutsche Bank AG.	3.700		05/30/24		527,102
	1,000,000		Deutsche Bank AG.	2.222		09/18/24		978,117
	2,000,000		Deutsche Bank AG.	1.447		04/01/25		1,910,131
	1,000,000		Deutsche Bank AG.	3.961		11/26/25		999,242
	1,800,000		Deutsche Bank AG.	4.100		01/13/26		1,809,070
	3,000,000		Deutsche Bank AG.	1.686		03/19/26		2,813,809
	2,000,000		Deutsche Bank AG.	2.129		11/24/26		1,853,984
	1,050,000		Deutsche Bank AG.	2.311		11/16/27		962,237
	1,000,000		Deutsche Bank AG.	2.552		01/07/28		922,543
	825,000		Deutsche Bank AG.	3.547		09/18/31		777,961
	750,000		Deutsche Bank AG.	3.035		05/28/32		673,984
	1,000,000		Deutsche Bank AG.	3.742		01/07/33		883,800
	100,000		Diageo Investment Corp	4.250		05/11/42		107,385
	700,000		Discover Financial Services	3.950		11/06/24		712,400
	200,000		Discover Financial Services	4.500		01/30/26		206,045
	350,000		Discover Financial Services	4.100		02/09/27		356,874
	200,000		E*TRADE Financial Corp	3.800		08/24/27		203,276
	300,000		E*TRADE Financial Corp	4.500		06/20/28		311,277
	300,000		Eaton Vance Corp	3.625		06/15/23		303,485
	200,000		Eaton Vance Corp	3.500		04/06/27		198,379
	750,000		Ford Foundation	2.415		06/01/50		618,764
	525,000		Ford Foundation	2.815		06/01/70		433,088
	200,000		Franklin Resources, Inc	2.850		03/30/25		199,087
	1,500,000		Franklin Resources, Inc	1.600		10/30/30		1,295,680
	500,000		Franklin Resources, Inc	2.950		08/12/51		412,692
	750,000		FS KKR Capital Corp	4.125		02/01/25		744,188
	750,000		FS KKR Capital Corp	3.400		01/15/26		726,136
	1,000,000		FS KKR Capital Corp	2.625		01/15/27		915,778
	1,500,000		FS KKR Capital Corp	3.125		10/12/28		1,337,210
	2,401,000		GE Capital International Funding Co	4.418		11/15/35		2,578,166
	1,125,000		General Motors Financial Co, Inc	3.700		05/09/23		1,136,233
	725,000		General Motors Financial Co, Inc	4.150		06/19/23		735,536
	650,000		General Motors Financial Co, Inc	5.100		01/17/24		672,010
	725,000		General Motors Financial Co, Inc	3.950		04/13/24		736,249
	1,500,000		General Motors Financial Co, Inc	3.500		11/07/24		1,502,946
	125,000		General Motors Financial Co, Inc	4.000		01/15/25		126,536
	1,000,000		General Motors Financial Co, Inc	2.900		02/26/25		976,771
	5,175,000		General Motors Financial Co, Inc	4.350		04/09/25		5,263,196
	3,000,000		General Motors Financial Co, Inc	2.750		06/20/25		2,913,777
	450,000		General Motors Financial Co, Inc	4.300		07/13/25		456,706
	500,000		General Motors Financial Co, Inc	1.250		01/08/26		457,534
	275,000		General Motors Financial Co, Inc	5.250		03/01/26		288,036
	1,000,000		General Motors Financial Co, Inc	1.500		06/10/26		913,694
	525,000		General Motors Financial Co, Inc	4.000		10/06/26		526,620
	1,400,000		General Motors Financial Co, Inc	4.350		01/17/27		1,423,681
	2,000,000	e	General Motors Financial Co, Inc	2.350		02/26/27		1,865,209
	1,000,000		General Motors Financial Co, Inc	2.700		08/20/27		940,830
	1,100,000		General Motors Financial Co, Inc	3.850		01/05/28		1,087,639
	2,000,000		General Motors Financial Co, Inc	2.400		04/10/28		1,810,135
	1,850,000		General Motors Financial Co, Inc	2.400		10/15/28		1,655,570

26

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	2,400,000	General Motors Financial Co, Inc	5.650	%	01/17/29	$	2,595,162
	1,500,000	General Motors Financial Co, Inc	3.600		06/21/30		1,434,769
	2,000,000	General Motors Financial Co, Inc	2.350		01/08/31		1,730,560
	475,000	General Motors Financial Co, Inc	2.700		06/10/31		418,247
	2,000,000	General Motors Financial Co, Inc	3.100		01/12/32		1,797,630
	500,000	Goldman Sachs BDC, Inc	3.750		02/10/25		498,953
	500,000	Goldman Sachs BDC, Inc	2.875		01/15/26		481,093
	2,275,000	Goldman Sachs Group, Inc	3.625		01/22/23		2,303,632
	2,575,000	Goldman Sachs Group, Inc	3.625		02/20/24		2,607,767
	2,025,000	Goldman Sachs Group, Inc	4.000		03/03/24		2,066,369
	425,000	Goldman Sachs Group, Inc	3.850		07/08/24		432,760
	600,000	Goldman Sachs Group, Inc	3.500		01/23/25		605,033
	250,000	Goldman Sachs Group, Inc	3.500		04/01/25		251,864
	1,100,000	Goldman Sachs Group, Inc	3.750		05/22/25		1,116,556
	2,375,000	Goldman Sachs Group, Inc	3.272		09/29/25		2,379,496
	575,000	Goldman Sachs Group, Inc	4.250		10/21/25		588,940
	700,000	Goldman Sachs Group, Inc	0.855		02/12/26		652,136
	1,125,000	Goldman Sachs Group, Inc	3.750		02/25/26		1,142,743
	425,000	Goldman Sachs Group, Inc	3.500		11/16/26		426,767
	700,000	Goldman Sachs Group, Inc	1.093		12/09/26		640,946
	125,000	Goldman Sachs Group, Inc	5.950		01/15/27		137,202
	3,950,000	Goldman Sachs Group, Inc	3.850		01/26/27		3,985,463
	2,600,000	Goldman Sachs Group, Inc	1.431		03/09/27		2,395,902
	5,000,000	Goldman Sachs Group, Inc	1.542		09/10/27		4,569,645
	6,500,000	Goldman Sachs Group, Inc	1.948		10/21/27		6,040,767
	2,000,000	Goldman Sachs Group, Inc	2.640		02/24/28		1,912,254
	1,000,000	Goldman Sachs Group, Inc	3.615		03/15/28		998,600
	4,475,000	Goldman Sachs Group, Inc	3.691		06/05/28		4,480,134
	8,525,000	Goldman Sachs Group, Inc	3.814		04/23/29		8,586,811
	550,000	Goldman Sachs Group, Inc	4.223		05/01/29		563,140
	2,500,000	Goldman Sachs Group, Inc	2.600		02/07/30		2,319,026
	2,500,000	Goldman Sachs Group, Inc	3.800		03/15/30		2,516,609
	5,000,000	Goldman Sachs Group, Inc	1.992		01/27/32		4,331,400
	2,050,000	Goldman Sachs Group, Inc	2.615		04/22/32		1,863,165
	2,550,000	Goldman Sachs Group, Inc	2.383		07/21/32		2,258,542
	1,500,000	Goldman Sachs Group, Inc	2.650		10/21/32		1,356,095
	3,000,000	Goldman Sachs Group, Inc	3.102		02/24/33		2,827,763
	900,000	Goldman Sachs Group, Inc	6.750		10/01/37		1,134,128
	2,425,000	Goldman Sachs Group, Inc	4.017		10/31/38		2,450,506
	4,525,000	Goldman Sachs Group, Inc	4.411		04/23/39		4,773,072
	2,475,000	Goldman Sachs Group, Inc	6.250		02/01/41		3,195,187
	1,900,000	Goldman Sachs Group, Inc	3.210		04/22/42		1,719,584
	2,000,000	Goldman Sachs Group, Inc	2.908		07/21/42		1,721,666
	2,000,000	Goldman Sachs Group, Inc	3.436		02/24/43		1,853,558
	1,225,000	Goldman Sachs Group, Inc	4.800		07/08/44		1,358,180
	1,650,000	Goldman Sachs Group, Inc	5.150		05/22/45		1,843,577
	200,000	Goldman Sachs Group, Inc	4.750		10/21/45		223,451
	1,250,000	Golub Capital BDC, Inc	2.500		08/24/26		1,148,341
	1,000,000	Golub Capital BDC, Inc	2.050		02/15/27		885,556
	1,000,000	Hercules Capital, Inc	3.375		01/20/27		938,785
	600,000	ING Groep NV	4.017		03/28/28		603,298
	300,000	ING Groep NV	4.252		03/28/33		308,813
	1,000,000	Intercontinental Exchange, Inc	0.700		06/15/23		979,312
	300,000	Intercontinental Exchange, Inc	3.450		09/21/23		303,513

27

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	350,000	Intercontinental Exchange, Inc	4.000	%	10/15/23	$	356,766
	825,000	Intercontinental Exchange, Inc	3.750		12/01/25		847,896
	1,000,000	Intercontinental Exchange, Inc	3.100		09/15/27		993,786
	500,000	Intercontinental Exchange, Inc	3.750		09/21/28		510,105
	1,500,000	Intercontinental Exchange, Inc	2.100		06/15/30		1,369,904
	1,000,000	Intercontinental Exchange, Inc	1.850		09/15/32		863,643
	775,000	Intercontinental Exchange, Inc	2.650		09/15/40		661,284
	575,000	Intercontinental Exchange, Inc	4.250		09/21/48		617,243
	1,000,000	Intercontinental Exchange, Inc	3.000		06/15/50		875,852
	1,000,000	Intercontinental Exchange, Inc	3.000		09/15/60		847,625
	125,000	Invesco Finance plc	3.125		11/30/22		126,023
	200,000	Invesco Finance plc	4.000		01/30/24		203,043
	800,000	Invesco Finance plc	3.750		01/15/26		815,592
	200,000	Invesco Finance plc	5.375		11/30/43		226,897
	2,000,000	J Paul Getty Trust	0.391		01/01/24		1,926,801
	300,000	Janus Capital Group, Inc	4.875		08/01/25		313,882
	1,000,000	Jefferies Group LLC	4.850		01/15/27		1,048,442
	600,000	Jefferies Group LLC	6.450		06/08/27		677,046
	1,000,000	Jefferies Group LLC	4.150		01/23/30		1,015,910
	1,000,000	Jefferies Group LLC	2.625		10/15/31		901,540
	1,000,000	Jefferies Group LLC	2.750		10/15/32		894,875
	5,000,000	Kreditanstalt fuer Wiederaufbau	1.250		01/31/25		4,824,050
	150,000	Lazard Group LLC	3.750		02/13/25		151,550
	200,000	Lazard Group LLC	3.625		03/01/27		199,052
	325,000	Lazard Group LLC	4.500		09/19/28		333,839
	425,000	Lazard Group LLC	4.375		03/11/29		434,688
	400,000	Legg Mason, Inc	5.625		01/15/44		480,083
	1,000,000	Lloyds Banking Group plc	3.511		03/18/26		995,099
	1,000,000	Lloyds Banking Group plc	3.750		03/18/28		997,073
	1,250,000	Main Street Capital Corp	3.000		07/14/26		1,158,921
	1,200,000	Moody’s Corp	3.250		01/15/28		1,198,083
	300,000	Moody’s Corp	4.250		02/01/29		314,709
	1,000,000	Moody’s Corp	2.000		08/19/31		887,131
	1,000,000	Moody’s Corp	2.750		08/19/41		853,857
	200,000	Moody’s Corp	5.250		07/15/44		232,037
	300,000	Moody’s Corp	4.875		12/17/48		341,230
	750,000	Moody’s Corp	3.250		05/20/50		670,544
	1,000,000	Moody’s Corp	3.100		11/29/61		836,257
	3,175,000	Morgan Stanley	4.100		05/22/23		3,231,925
	1,000,000	Morgan Stanley	0.529		01/25/24		983,730
	5,350,000	Morgan Stanley	3.737		04/24/24		5,402,942
	4,092,000	Morgan Stanley	3.700		10/23/24		4,165,431
	6,000,000	Morgan Stanley	0.790		05/30/25		5,700,201
	1,025,000	Morgan Stanley	2.720		07/22/25		1,014,720
	500,000	Morgan Stanley	4.000		07/23/25		511,768
	950,000	Morgan Stanley	5.000		11/24/25		1,001,414
	575,000	Morgan Stanley	3.875		01/27/26		585,938
	4,000,000	Morgan Stanley	2.630		02/18/26		3,923,761
	500,000	Morgan Stanley	3.125		07/27/26		495,685
	400,000	Morgan Stanley	4.350		09/08/26		411,990
	5,000,000	Morgan Stanley	0.985		12/10/26		4,585,565
	2,750,000	Morgan Stanley	3.625		01/20/27		2,773,640
	1,975,000	Morgan Stanley	3.950		04/23/27		2,006,901
	4,975,000	Morgan Stanley	1.593		05/04/27		4,622,182

28

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	3,325,000	Morgan Stanley	1.512	%	07/20/27	$	3,056,352
	1,575,000	Morgan Stanley	3.591		07/22/28		1,579,380
	4,850,000	Morgan Stanley	3.772		01/24/29		4,887,845
	3,475,000	Morgan Stanley	4.431		01/23/30		3,633,407
	5,000,000	Morgan Stanley	2.699		01/22/31		4,691,832
	500,000	Morgan Stanley	3.622		04/01/31		497,399
	5,000,000	Morgan Stanley	1.794		02/13/32		4,299,630
	150,000	Morgan Stanley	7.250		04/01/32		192,758
	2,500,000	Morgan Stanley	1.928		04/28/32		2,160,847
	4,000,000	Morgan Stanley	2.239		07/21/32		3,544,518
	3,500,000	Morgan Stanley	2.511		10/20/32		3,154,686
	3,000,000	Morgan Stanley	2.943		01/21/33		2,813,214
	1,300,000	Morgan Stanley	2.484		09/16/36		1,114,547
	725,000	Morgan Stanley	3.971		07/22/38		731,430
	2,675,000	Morgan Stanley	4.457		04/22/39		2,884,857
	1,525,000	Morgan Stanley	3.217		04/22/42		1,402,868
	275,000	Morgan Stanley	6.375		07/24/42		368,323
	175,000	Morgan Stanley	4.300		01/27/45		184,057
	3,200,000	Morgan Stanley	4.375		01/22/47		3,465,766
	900,000	Morgan Stanley	5.597		03/24/51		1,152,974
	1,425,000	Morgan Stanley	2.802		01/25/52		1,185,554
	250,000	NASDAQ, Inc	4.250		06/01/24		257,713
	400,000	NASDAQ, Inc	3.850		06/30/26		407,840
	1,000,000	NASDAQ, Inc	1.650		01/15/31		843,074
	1,000,000	NASDAQ, Inc	2.500		12/21/40		804,937
	500,000	NASDAQ, Inc	3.250		04/28/50		431,585
	500,000	NASDAQ, Inc	3.950		03/07/52		485,124
	200,000	National Rural Utilities Cooperative Finance Corp	2.700		02/15/23		201,011
	200,000	National Rural Utilities Cooperative Finance Corp	3.400		11/15/23		202,623
	300,000	National Rural Utilities Cooperative Finance Corp	2.950		02/07/24		301,198
	1,000,000	National Rural Utilities Cooperative Finance Corp	0.350		02/08/24		958,161
	400,000	National Rural Utilities Cooperative Finance Corp	2.850		01/27/25		397,517
	200,000	National Rural Utilities Cooperative Finance Corp	3.250		11/01/25		200,559
	1,000,000	National Rural Utilities Cooperative Finance Corp	1.000		06/15/26		908,375
	1,000,000	National Rural Utilities Cooperative Finance Corp	3.400		02/07/28		998,514
	200,000	National Rural Utilities Cooperative Finance Corp	3.900		11/01/28		205,402
	300,000	National Rural Utilities Cooperative Finance Corp	3.700		03/15/29		306,856
	1,000,000	National Rural Utilities Cooperative Finance Corp	2.400		03/15/30		932,092
	1,000,000	National Rural Utilities Cooperative Finance Corp	1.350		03/15/31		840,530
	1,000,000	National Rural Utilities Cooperative Finance Corp	1.650		06/15/31		854,847
	525,000	National Rural Utilities Cooperative Finance Corp	2.750		04/15/32		496,147
	500,000	National Rural Utilities Cooperative Finance Corp	4.750		04/30/43		487,673
	200,000	National Rural Utilities Cooperative Finance Corp	5.250		04/20/46		201,476
	200,000	National Rural Utilities Cooperative Finance Corp	4.400		11/01/48		215,555
	550,000	National Rural Utilities Cooperative Finance Corp	4.300		03/15/49		590,633
	300,000	Navient Solutions LLC	0.000		10/03/22		293,247
	1,500,000	Nomura Holdings, Inc	2.648		01/16/25		1,459,104
	1,000,000	Nomura Holdings, Inc	1.851		07/16/25		943,871
	1,000,000	Nomura Holdings, Inc	1.653		07/14/26		919,732
	1,000,000	Nomura Holdings, Inc	2.329		01/22/27		935,362
	1,000,000	Nomura Holdings, Inc	2.172		07/14/28		897,410
	1,000,000	Nomura Holdings, Inc	2.710		01/22/29		921,964
	1,500,000	Nomura Holdings, Inc	3.103		01/16/30		1,412,752
	500,000	Nomura Holdings, Inc	2.679		07/16/30		454,442
	1,500,000	Nomura Holdings, Inc	2.608		07/14/31		1,348,214
	1,000,000	Nomura Holdings, Inc	2.999		01/22/32		921,162

29

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	625,000		Northern Trust Corp	3.950	%	10/30/25	$	640,603
	500,000		Northern Trust Corp	3.650		08/03/28		513,232
	500,000		Northern Trust Corp	3.150		05/03/29		499,924
	700,000		Northern Trust Corp	1.950		05/01/30		641,256
	100,000		Northern Trust Corp	3.375		05/08/32		97,797
	1,500,000		Oaktree Specialty Lending Corp	2.700		01/15/27		1,374,365
	750,000		Oesterreichische Kontrollbank AG.	2.875		03/13/23		757,156
	1,350,000	e	Oesterreichische Kontrollbank AG.	3.125		11/07/23		1,367,421
	1,250,000		Oesterreichische Kontrollbank AG.	0.500		09/16/24		1,190,218
	1,500,000		Oesterreichische Kontrollbank AG.	1.500		02/12/25		1,455,134
	2,000,000		Oesterreichische Kontrollbank AG.	0.375		09/17/25		1,851,092
	2,500,000		Oesterreichische Kontrollbank AG.	0.500		02/02/26		2,304,799
	500,000		ORIX Corp	4.050		01/16/24		509,675
	500,000		ORIX Corp	3.250		12/04/24		500,553
	200,000		ORIX Corp	3.700		07/18/27		201,530
	1,000,000	e	ORIX Corp	2.250		03/09/31		913,783
	500,000		Owl Rock Capital Corp	4.000		03/30/25		491,698
	500,000		Owl Rock Capital Corp	3.750		07/22/25		483,638
	1,000,000		Owl Rock Capital Corp	4.250		01/15/26		974,531
	750,000		Owl Rock Capital Corp	3.400		07/15/26		704,207
	2,000,000		Owl Rock Capital Corp	2.875		06/11/28		1,744,358
	200,000		PACCAR Financial Corp	3.400		08/09/23		202,209
	2,000,000		PACCAR Financial Corp	0.350		08/11/23		1,948,244
	3,000,000		PACCAR Financial Corp	0.350		02/02/24		2,889,926
	300,000		PACCAR Financial Corp	2.150		08/15/24		296,573
	750,000		PACCAR Financial Corp	1.800		02/06/25		727,175
	500,000		PACCAR Financial Corp	2.850		04/07/25		499,870
	1,000,000		PACCAR Financial Corp	1.100		05/11/26		925,854
	3,000,000		Private Export Funding Corp (PEFCO)	1.400		07/15/28		2,761,230
	1,000,000		Prospect Capital Corp	3.364		11/15/26		913,678
	1,000,000		Prospect Capital Corp	3.437		10/15/28		853,958
	425,000		Raymond James Financial, Inc	4.950		07/15/46		475,889
	1,000,000		Raymond James Financial, Inc	3.750		04/01/51		977,260
	2,000,000	e	Royal Bank of Canada	2.050		01/21/27		1,901,921
	500,000		S&P Global, Inc	2.500		12/01/29		473,863
	500,000		S&P Global, Inc	1.250		08/15/30		430,786
	500,000		S&P Global, Inc	3.250		12/01/49		469,050
	500,000		S&P Global, Inc	2.300		08/15/60		378,034
	1,250,000		Shire Acquisitions Investments Ireland DAC	2.875		09/23/23		1,253,465
	1,400,000		Shire Acquisitions Investments Ireland DAC	3.200		09/23/26		1,402,418
	1,500,000	e	Sixth Street Specialty Lending, Inc	2.500		08/01/26		1,382,834
	300,000		State Street Corp	3.776		12/03/24		305,375
	750,000		State Street Corp	3.300		12/16/24		757,436
	375,000		State Street Corp	3.550		08/18/25		381,536
	1,000,000		State Street Corp	2.354		11/01/25		985,668
	500,000		State Street Corp	2.901		03/30/26		495,766
	650,000		State Street Corp	2.650		05/19/26		642,717
	1,000,000		State Street Corp	1.684		11/18/27		938,212
	300,000		State Street Corp	4.141		12/03/29		310,212
	750,000		State Street Corp	2.400		01/24/30		708,463
	1,375,000		State Street Corp	2.200		03/03/31		1,241,513
	500,000		State Street Corp	3.031		11/01/34		478,223
	100,000		Stifel Financial Corp	4.250		07/18/24		102,011
	500,000		Synchrony Financial	4.375		03/19/24		509,280
	250,000		Synchrony Financial	4.250		08/15/24		253,488
	600,000		Synchrony Financial	4.500		07/23/25		612,035

30

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	300,000		Synchrony Financial	3.700	%	08/04/26	$	298,239
	900,000		Synchrony Financial	3.950		12/01/27		891,333
	500,000		Synchrony Financial	5.150		03/19/29		523,806
	2,000,000		Synchrony Financial	2.875		10/28/31		1,773,235
	1,000,000	e	Toronto-Dominion Bank	1.950		01/12/27		947,110
	1,000,000		Toronto-Dominion Bank	2.800		03/10/27		982,021
	1,000,000	e	Toronto-Dominion Bank	2.450		01/12/32		923,702
	500,000		Toronto-Dominion Bank	3.200		03/10/32		492,072
	1,000,000		Toyota Motor Credit Corp	0.500		08/14/23		975,998
	500,000		Toyota Motor Credit Corp	3.450		09/20/23		506,715
	400,000		Toyota Motor Credit Corp	3.350		01/08/24		405,661
	1,000,000		Toyota Motor Credit Corp	0.450		01/11/24		965,773
	1,000,000		Toyota Motor Credit Corp	2.000		10/07/24		981,284
	3,000,000		Toyota Motor Credit Corp	1.800		02/13/25		2,912,289
	1,500,000		Toyota Motor Credit Corp	3.400		04/14/25		1,514,553
	1,000,000		Toyota Motor Credit Corp	0.800		10/16/25		927,643
	1,000,000		Toyota Motor Credit Corp	0.800		01/09/26		925,092
	4,000,000		Toyota Motor Credit Corp	1.125		06/18/26		3,710,563
	1,000,000		Toyota Motor Credit Corp	1.900		01/13/27		950,702
	1,000,000		Toyota Motor Credit Corp	3.050		03/22/27		998,331
	1,000,000		Toyota Motor Credit Corp	1.150		08/13/27		906,012
	300,000		Toyota Motor Credit Corp	3.050		01/11/28		297,597
	2,000,000		Toyota Motor Credit Corp	1.900		04/06/28		1,856,273
	400,000		Toyota Motor Credit Corp	3.650		01/08/29		408,480
	650,000		Toyota Motor Credit Corp	2.150		02/13/30		602,856
	225,000		Toyota Motor Credit Corp	3.375		04/01/30		225,754
	1,000,000		Toyota Motor Credit Corp	1.650		01/10/31		874,055
	1,000,000		Toyota Motor Credit Corp	1.900		09/12/31		886,320
	1,000,000		Toyota Motor Credit Corp	2.400		01/13/32		922,488
	500,000		Unilever Capital Corp	3.125		03/22/23		505,332
	750,000		Unilever Capital Corp	0.375		09/14/23		730,880
	300,000		Unilever Capital Corp	3.250		03/07/24		303,778
	1,100,000		Unilever Capital Corp	2.600		05/05/24		1,102,962
	1,000,000		Unilever Capital Corp	0.626		08/12/24		957,124
	500,000		Unilever Capital Corp	3.375		03/22/25		509,314
	450,000		Unilever Capital Corp	3.100		07/30/25		453,796
	225,000		Unilever Capital Corp	2.000		07/28/26		216,683
	800,000		Unilever Capital Corp	2.900		05/05/27		794,587
	1,150,000		Unilever Capital Corp	3.500		03/22/28		1,177,501
	1,000,000		Unilever Capital Corp	2.125		09/06/29		938,141
	175,000		Unilever Capital Corp	1.375		09/14/30		151,185
	200,000		Unilever Capital Corp	1.750		08/12/31		176,933
	430,000		Unilever Capital Corp	5.900		11/15/32		527,725
	500,000		Unilever Capital Corp	2.625		08/12/51		415,760
	550,000		Voya Financial, Inc	3.650		06/15/26		552,766
	200,000		Voya Financial, Inc	5.700		07/15/43		236,185
	200,000		Voya Financial, Inc	4.800		06/15/46		219,373
			TOTAL DIVERSIFIED FINANCIALS					547,909,753
ENERGY - 1.7%
	875,000		Baker Hughes a GE Co LLC	3.337		12/15/27		869,882
	1,000,000		Baker Hughes a GE Co LLC	3.138		11/07/29		976,505
	500,000		Baker Hughes a GE Co LLC	4.486		05/01/30		533,870
	800,000		Baker Hughes a GE Co LLC	5.125		09/15/40		908,878
	875,000		Baker Hughes a GE Co LLC	4.080		12/15/47		883,839
	1,000,000		Baker Hughes Holdings LLC	2.061		12/15/26		952,594

31

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	200,000		Boardwalk Pipelines LP	3.375	%	02/01/23	$	201,008
	475,000		Boardwalk Pipelines LP	5.950		06/01/26		512,825
	450,000		Boardwalk Pipelines LP	4.450		07/15/27		459,104
	500,000		Boardwalk Pipelines LP	4.800		05/03/29		517,095
	1,000,000		Boardwalk Pipelines LP	3.400		02/15/31		945,738
	800,000		BP Capital Markets America, Inc	3.790		02/06/24		813,877
	1,000,000		BP Capital Markets America, Inc	3.194		04/06/25		1,007,188
	700,000		BP Capital Markets America, Inc	3.796		09/21/25		721,222
	1,800,000		BP Capital Markets America, Inc	3.410		02/11/26		1,820,048
	150,000		BP Capital Markets America, Inc	3.119		05/04/26		149,708
	200,000		BP Capital Markets America, Inc	3.017		01/16/27		199,455
	500,000		BP Capital Markets America, Inc	3.588		04/14/27		507,401
	750,000		BP Capital Markets America, Inc	3.937		09/21/28		776,245
	1,300,000		BP Capital Markets America, Inc	4.234		11/06/28		1,365,171
	1,000,000		BP Capital Markets America, Inc	3.633		04/06/30		1,018,262
	1,000,000		BP Capital Markets America, Inc	1.749		08/10/30		884,421
	2,000,000		BP Capital Markets America, Inc	2.721		01/12/32		1,882,205
	1,000,000		BP Capital Markets America, Inc	3.060		06/17/41		896,075
	2,000,000		BP Capital Markets America, Inc	3.000		02/24/50		1,727,482
	950,000		BP Capital Markets America, Inc	2.772		11/10/50		793,105
	2,500,000		BP Capital Markets America, Inc	2.939		06/04/51		2,133,855
	1,000,000		BP Capital Markets America, Inc	3.001		03/17/52		861,444
	2,500,000		BP Capital Markets America, Inc	3.379		02/08/61		2,222,551
	700,000		BP Capital Markets plc	3.994		09/26/23		712,651
	925,000		BP Capital Markets plc	3.814		02/10/24		944,285
	675,000		BP Capital Markets plc	3.535		11/04/24		685,723
	675,000		BP Capital Markets plc	3.506		03/17/25		687,850
	925,000		BP Capital Markets plc	3.279		09/19/27		933,344
	300,000		BP Capital Markets plc	3.723		11/28/28		307,042
	600,000		Canadian Natural Resources Ltd	3.800		04/15/24		608,433
	700,000		Canadian Natural Resources Ltd	3.900		02/01/25		709,036
	750,000		Canadian Natural Resources Ltd	2.050		07/15/25		719,145
	1,125,000		Canadian Natural Resources Ltd	3.850		06/01/27		1,137,512
	750,000		Canadian Natural Resources Ltd	2.950		07/15/30		713,143
	1,625,000		Canadian Natural Resources Ltd	6.250		03/15/38		1,941,759
	800,000		Canadian Natural Resources Ltd	4.950		06/01/47		885,127
	1,658,000		Cenovus Energy, Inc	5.375		07/15/25		1,748,320
	200,000		Cenovus Energy, Inc	2.650		01/15/32		181,136
	425,000		Cenovus Energy, Inc	3.750		02/15/52		380,070
	425,000		Chevron Corp	2.895		03/03/24		429,856
	2,750,000		Chevron Corp	1.554		05/11/25		2,653,086
	400,000		Chevron Corp	3.326		11/17/25		405,656
	2,475,000		Chevron Corp	2.954		05/16/26		2,484,784
	2,225,000		Chevron Corp	1.995		05/11/27		2,135,296
	600,000		Chevron Corp	2.236		05/11/30		567,387
	1,000,000		Chevron Corp	3.078		05/11/50		944,027
	775,000		Columbia Pipeline Group, Inc	4.500		06/01/25		799,751
	300,000		Columbia Pipeline Group, Inc	5.800		06/01/45		352,862
	2,800,000		ConocoPhillips Co	4.950		03/15/26		2,999,003
	77,000		ConocoPhillips Co	4.150		11/15/34		78,687
	1,700,000	g	ConocoPhillips Co	3.758		03/15/42		1,731,025
	300,000		ConocoPhillips Co	4.300		11/15/44		324,641
	850,000		ConocoPhillips Co	3.800		03/15/52		864,899
	3,612,000	g	ConocoPhillips Co	4.025		03/15/62		3,661,935
	500,000	g	Coterra Energy, Inc	4.375		06/01/24		510,048
	525,000	g	Coterra Energy, Inc	3.900		05/15/27		528,823

32

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	300,000	g	Coterra Energy, Inc	4.375	%	03/15/29	$	312,599
	885,000		Devon Energy Corp	5.600		07/15/41		1,021,292
	700,000		Devon Energy Corp	4.750		05/15/42		739,701
	1,100,000		Devon Energy Corp	5.000		06/15/45		1,197,602
	425,000		Diamondback Energy, Inc	3.250		12/01/26		424,369
	1,000,000		Diamondback Energy, Inc	3.500		12/01/29		990,566
	650,000		Diamondback Energy, Inc	3.125		03/24/31		620,784
	1,000,000		Diamondback Energy, Inc	4.400		03/24/51		1,014,448
	450,000		Diamondback Energy, Inc	4.250		03/15/52		444,754
	750,000	g	Eastern Gas Transmission & Storage, Inc	3.000		11/15/29		722,170
	200,000	g	Eastern Gas Transmission & Storage, Inc	4.800		11/01/43		210,215
	200,000	g	Eastern Gas Transmission & Storage, Inc	4.600		12/15/44		206,682
	300,000		El Paso Corp	7.750		01/15/32		386,608
	300,000		Enable Midstream Partners LP	3.900		05/15/24		301,773
	200,000		Enable Midstream Partners LP	4.400		03/15/27		203,339
	1,250,000		Enable Midstream Partners LP	4.950		05/15/28		1,294,561
	500,000		Enable Midstream Partners LP	4.150		09/15/29		501,478
	100,000		Enable Midstream Partners LP	5.000		05/15/44		97,877
	1,200,000		Enbridge Energy Partners LP	5.875		10/15/25		1,296,640
	300,000		Enbridge Energy Partners LP	5.500		09/15/40		340,617
	200,000		Enbridge Energy Partners LP	7.375		10/15/45		277,330
	300,000		Enbridge, Inc	4.000		10/01/23		304,662
	250,000		Enbridge, Inc	2.500		01/15/25		245,632
	1,500,000		Enbridge, Inc	1.600		10/04/26		1,386,305
	100,000		Enbridge, Inc	4.250		12/01/26		103,630
	100,000		Enbridge, Inc	3.700		07/15/27		101,304
	500,000		Enbridge, Inc	3.125		11/15/29		484,547
	1,500,000		Enbridge, Inc	2.500		08/01/33		1,331,813
	300,000		Enbridge, Inc	4.500		06/10/44		303,454
	925,000		Enbridge, Inc	5.500		12/01/46		1,108,940
	1,000,000		Enbridge, Inc	4.000		11/15/49		977,727
	2,000,000		Enbridge, Inc	3.400		08/01/51		1,772,488
	200,000		Energy Transfer Operating LP	4.200		09/15/23		202,635
	500,000		Energy Transfer Operating LP	4.900		02/01/24		513,288
	2,775,000		Energy Transfer Operating LP	4.500		04/15/24		2,839,294
	825,000		Energy Transfer Operating LP	4.050		03/15/25		836,694
	400,000		Energy Transfer Operating LP	2.900		05/15/25		391,261
	325,000		Energy Transfer Operating LP	4.750		01/15/26		337,740
	250,000		Energy Transfer Operating LP	4.200		04/15/27		254,551
	350,000		Energy Transfer Operating LP	4.950		06/15/28		367,584
	2,600,000		Energy Transfer Operating LP	5.250		04/15/29		2,774,477
	3,125,000		Energy Transfer Operating LP	3.750		05/15/30		3,074,245
	400,000		Energy Transfer Operating LP	4.900		03/15/35		404,294
	500,000		Energy Transfer Operating LP	5.800		06/15/38		540,899
	140,000		Energy Transfer Operating LP	7.500		07/01/38		172,528
	650,000		Energy Transfer Operating LP	6.500		02/01/42		747,068
	200,000		Energy Transfer Operating LP	5.150		02/01/43		196,471
	200,000		Energy Transfer Operating LP	5.950		10/01/43		213,452
	550,000		Energy Transfer Operating LP	5.150		03/15/45		555,048
	625,000		Energy Transfer Operating LP	6.125		12/15/45		689,220
	500,000		Energy Transfer Operating LP	5.300		04/15/47		513,819
	1,025,000		Energy Transfer Operating LP	6.000		06/15/48		1,136,209
	2,750,000		Energy Transfer Operating LP	6.250		04/15/49		3,155,560
	2,175,000		Energy Transfer Operating LP	5.000		05/15/50		2,200,750
	950,000		Enterprise Products Operating LLC	3.900		02/15/24		967,420
	225,000		Enterprise Products Operating LLC	3.750		02/15/25		229,036

33

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	450,000	Enterprise Products Operating LLC	3.700	%	02/15/26	$	455,762
	3,065,000	Enterprise Products Operating LLC	3.950		02/15/27		3,140,252
	725,000	Enterprise Products Operating LLC	4.150		10/16/28		753,914
	450,000	Enterprise Products Operating LLC	3.125		07/31/29		441,884
	2,250,000	Enterprise Products Operating LLC	2.800		01/31/30		2,162,729
	480,000	Enterprise Products Operating LLC	6.125		10/15/39		578,633
	175,000	Enterprise Products Operating LLC	5.950		02/01/41		207,465
	525,000	Enterprise Products Operating LLC	4.850		08/15/42		556,193
	325,000	Enterprise Products Operating LLC	4.450		02/15/43		327,295
	1,775,000	Enterprise Products Operating LLC	4.850		03/15/44		1,880,444
	775,000	Enterprise Products Operating LLC	5.100		02/15/45		844,995
	500,000	Enterprise Products Operating LLC	4.900		05/15/46		540,262
	675,000	Enterprise Products Operating LLC	4.250		02/15/48		677,698
	2,475,000	Enterprise Products Operating LLC	4.800		02/01/49		2,639,816
	950,000	Enterprise Products Operating LLC	4.200		01/31/50		942,659
	775,000	Enterprise Products Operating LLC	3.700		01/31/51		709,121
	1,000,000	Enterprise Products Operating LLC	3.200		02/15/52		843,722
	425,000	Enterprise Products Operating LLC	3.300		02/15/53		362,594
	200,000	Enterprise Products Operating LLC	4.950		10/15/54		217,409
	1,625,000	Enterprise Products Operating LLC	3.950		01/31/60		1,510,760
	200,000	Enterprise Products Operating LLC	4.875		08/16/77		178,931
	700,000	Enterprise Products Operating LLC	5.250		08/16/77		658,079
	400,000	Enterprise Products Operating LLC	5.375		02/15/78		371,656
	1,025,000	EOG Resources, Inc	2.625		03/15/23		1,027,121
	475,000	EOG Resources, Inc	4.150		01/15/26		491,843
	500,000	EOG Resources, Inc	4.375		04/15/30		541,353
	200,000	EOG Resources, Inc	3.900		04/01/35		205,328
	200,000	EOG Resources, Inc	5.100		01/15/36		223,255
	500,000	EOG Resources, Inc	4.950		04/15/50		611,947
	475,000	Equinor ASA	2.650		01/15/24		476,007
	150,000	Equinor ASA	3.700		03/01/24		152,981
	500,000	Equinor ASA	3.250		11/10/24		504,527
	500,000	Equinor ASA	2.875		04/06/25		500,047
	400,000	Equinor ASA	1.750		01/22/26		383,014
	500,000	Equinor ASA	3.000		04/06/27		497,698
	1,500,000	Equinor ASA	3.625		09/10/28		1,525,719
	300,000	Equinor ASA	3.125		04/06/30		298,816
	1,175,000	Equinor ASA	2.375		05/22/30		1,109,049
	300,000	Equinor ASA	3.625		04/06/40		301,712
	200,000	Equinor ASA	5.100		08/17/40		236,349
	400,000	Equinor ASA	4.250		11/23/41		430,568
	300,000	Equinor ASA	3.950		05/15/43		309,560
	1,300,000	Equinor ASA	4.800		11/08/43		1,496,441
	750,000	Equinor ASA	3.250		11/18/49		706,380
	1,300,000	Equinor ASA	3.700		04/06/50		1,315,029
	175,000	Exxon Mobil Corp	3.176		03/15/24		177,449
	1,000,000	Exxon Mobil Corp	2.019		08/16/24		990,013
	850,000	Exxon Mobil Corp	2.709		03/06/25		849,329
	3,000,000	Exxon Mobil Corp	2.992		03/19/25		3,013,414
	4,177,000	Exxon Mobil Corp	3.043		03/01/26		4,215,537
	1,000,000	Exxon Mobil Corp	2.275		08/16/26		980,779
	750,000	Exxon Mobil Corp	3.294		03/19/27		764,332
	1,000,000	Exxon Mobil Corp	2.440		08/16/29		957,758
	750,000	Exxon Mobil Corp	3.482		03/19/30		769,706
	750,000	Exxon Mobil Corp	2.610		10/15/30		722,895
	1,000,000	Exxon Mobil Corp	2.995		08/16/39		927,094

34

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	1,750,000		Exxon Mobil Corp	4.227	%	03/19/40	$	1,881,754
	500,000		Exxon Mobil Corp	3.567		03/06/45		484,519
	1,225,000		Exxon Mobil Corp	4.114		03/01/46		1,316,645
	1,400,000		Exxon Mobil Corp	3.095		08/16/49		1,280,652
	2,100,000		Exxon Mobil Corp	4.327		03/19/50		2,341,311
	2,800,000		Exxon Mobil Corp	3.452		04/15/51		2,714,304
	7,000		Halliburton Co	3.500		08/01/23		7,063
	75,000		Halliburton Co	3.800		11/15/25		76,592
	1,000,000	e	Halliburton Co	2.920		03/01/30		966,703
	500,000		Halliburton Co	4.850		11/15/35		537,204
	125,000		Halliburton Co	6.700		09/15/38		156,971
	125,000		Halliburton Co	7.450		09/15/39		167,318
	750,000		Halliburton Co	4.750		08/01/43		784,736
	2,825,000		Halliburton Co	5.000		11/15/45		3,063,087
	1,000,000	g	Helmerich & Payne, Inc	2.900		09/29/31		914,400
	200,000		Hess Corp	3.500		07/15/24		201,239
	2,100,000		Hess Corp	4.300		04/01/27		2,154,773
	200,000		Hess Corp	6.000		01/15/40		232,866
	1,190,000		Hess Corp	5.600		02/15/41		1,337,141
	900,000		Hess Corp	5.800		04/01/47		1,070,797
	500,000		HollyFrontier Corp	2.625		10/01/23		494,894
	200,000		HollyFrontier Corp	5.875		04/01/26		208,228
	500,000		HollyFrontier Corp	4.500		10/01/30		487,370
	825,000		Husky Energy, Inc	4.400		04/15/29		856,213
	130,000		Husky Energy, Inc	6.800		09/15/37		159,276
	300,000		Kinder Morgan Energy Partners LP	4.150		02/01/24		305,519
	500,000		Kinder Morgan Energy Partners LP	4.250		09/01/24		511,933
	300,000		Kinder Morgan Energy Partners LP	6.950		01/15/38		375,168
	535,000		Kinder Morgan Energy Partners LP	6.500		09/01/39		631,454
	400,000		Kinder Morgan Energy Partners LP	4.700		11/01/42		399,018
	500,000		Kinder Morgan Energy Partners LP	5.000		03/01/43		514,268
	400,000		Kinder Morgan Energy Partners LP	5.500		03/01/44		434,965
	200,000		Kinder Morgan Energy Partners LP	5.400		09/01/44		215,294
	2,525,000		Kinder Morgan, Inc	4.300		06/01/25		2,593,411
	1,500,000		Kinder Morgan, Inc	1.750		11/15/26		1,393,747
	2,825,000		Kinder Morgan, Inc	4.300		03/01/28		2,927,390
	450,000	e	Kinder Morgan, Inc	2.000		02/15/31		393,477
	3,300,000		Kinder Morgan, Inc	5.300		12/01/34		3,616,726
	1,600,000		Kinder Morgan, Inc	5.550		06/01/45		1,788,710
	2,325,000		Kinder Morgan, Inc	5.200		03/01/48		2,526,928
	500,000		Kinder Morgan, Inc	3.250		08/01/50		415,054
	2,500,000		Kinder Morgan, Inc	3.600		02/15/51		2,219,693
	900,000		Magellan Midstream Partners LP	5.000		03/01/26		948,034
	475,000		Magellan Midstream Partners LP	3.250		06/01/30		462,349
	225,000		Magellan Midstream Partners LP	4.250		09/15/46		221,708
	425,000		Magellan Midstream Partners LP	4.200		10/03/47		410,019
	525,000		Magellan Midstream Partners LP	4.850		02/01/49		559,560
	1,500,000		Magellan Midstream Partners LP	3.950		03/01/50		1,418,916
	1,475,000		Marathon Oil Corp	4.400		07/15/27		1,520,567
	505,000		Marathon Oil Corp	6.600		10/01/37		613,984
	600,000		Marathon Oil Corp	5.200		06/01/45		649,884
	2,175,000		Marathon Petroleum Corp	3.625		09/15/24		2,190,956
	500,000		Marathon Petroleum Corp	4.700		05/01/25		519,587
	200,000		Marathon Petroleum Corp	3.800		04/01/28		201,244
	800,000		Marathon Petroleum Corp	6.500		03/01/41		985,719
	450,000		Marathon Petroleum Corp	4.750		09/15/44		457,563

35

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	250,000	Marathon Petroleum Corp	5.850	%	12/15/45	$	278,066
	600,000	Marathon Petroleum Corp	4.500		04/01/48		601,505
	200,000	Marathon Petroleum Corp	5.000		09/15/54		203,934
	200,000	MPLX LP	3.500		12/01/22		201,592
	175,000	MPLX LP	3.375		03/15/23		176,309
	1,000,000	MPLX LP	4.875		12/01/24		1,035,662
	2,500,000	MPLX LP	4.875		06/01/25		2,590,003
	2,800,000	MPLX LP	1.750		03/01/26		2,623,682
	100,000	MPLX LP	4.125		03/01/27		102,257
	150,000	MPLX LP	4.250		12/01/27		154,915
	475,000	MPLX LP	4.000		03/15/28		483,186
	1,200,000	MPLX LP	4.800		02/15/29		1,277,616
	1,125,000	MPLX LP	2.650		08/15/30		1,030,861
	975,000	MPLX LP	4.500		04/15/38		996,205
	375,000	MPLX LP	5.200		03/01/47		402,103
	700,000	MPLX LP	5.200		12/01/47		742,621
	825,000	MPLX LP	4.700		04/15/48		831,102
	850,000	MPLX LP	5.500		02/15/49		941,400
	1,600,000	MPLX LP	4.900		04/15/58		1,610,388
	500,000	National Oilwell Varco, Inc	3.600		12/01/29		491,530
	800,000	National Oilwell Varco, Inc	3.950		12/01/42		703,178
	175,000	ONEOK, Inc	2.750		09/01/24		173,911
	100,000	ONEOK, Inc	5.850		01/15/26		107,477
	1,300,000	ONEOK, Inc	4.000		07/13/27		1,310,942
	725,000	ONEOK, Inc	4.550		07/15/28		744,943
	325,000	ONEOK, Inc	4.350		03/15/29		331,845
	500,000	ONEOK, Inc	3.400		09/01/29		480,831
	500,000	ONEOK, Inc	3.100		03/15/30		468,623
	175,000	ONEOK, Inc	6.350		01/15/31		202,382
	675,000	ONEOK, Inc	4.950		07/13/47		679,648
	1,350,000	ONEOK, Inc	5.200		07/15/48		1,436,657
	1,000,000	ONEOK, Inc	4.450		09/01/49		959,645
	500,000	ONEOK, Inc	4.500		03/15/50		478,266
	300,000	ONEOK, Inc	7.150		01/15/51		381,045
	30,000	Petroleos Mexicanos	1.700		12/20/22		29,962
	30,000	Petroleos Mexicanos	2.000		12/20/22		30,003
	500,000	Phillips 66	3.700		04/06/23		506,952
	675,000	Phillips 66	0.900		02/15/24		653,199
	1,000,000	Phillips 66	3.850		04/09/25		1,020,269
	925,000	Phillips 66	1.300		02/15/26		864,386
	1,000,000	Phillips 66	3.900		03/15/28		1,016,545
	738,000	Phillips 66	4.650		11/15/34		787,594
	125,000	Phillips 66	5.875		05/01/42		154,067
	2,375,000	Phillips 66	4.875		11/15/44		2,631,192
	825,000	Phillips 66	3.300		03/15/52		726,205
	500,000	Phillips 66 Partners LP	2.450		12/15/24		491,353
	100,000	Phillips 66 Partners LP	3.550		10/01/26		99,933
	675,000	Phillips 66 Partners LP	3.750		03/01/28		677,253
	500,000	Phillips 66 Partners LP	3.150		12/15/29		482,245
	425,000	Phillips 66 Partners LP	4.680		02/15/45		452,503
	350,000	Phillips 66 Partners LP	4.900		10/01/46		384,438
	2,000,000	Pioneer Natural Resources Co	1.125		01/15/26		1,854,785
	1,500,000	Pioneer Natural Resources Co	1.900		08/15/30		1,329,693
	750,000	Pioneer Natural Resources Co	2.150		01/15/31		675,885
	200,000	Plains All American Pipeline LP	2.850		01/31/23		199,777
	400,000	Plains All American Pipeline LP	3.850		10/15/23		403,396

36

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	575,000		Plains All American Pipeline LP	3.600	%	11/01/24	$	576,768
	1,025,000		Plains All American Pipeline LP	4.650		10/15/25		1,053,100
	2,075,000		Plains All American Pipeline LP	4.500		12/15/26		2,132,568
	1,450,000		Plains All American Pipeline LP	3.550		12/15/29		1,401,282
	1,000,000		Plains All American Pipeline LP	3.800		09/15/30		980,881
	100,000		Plains All American Pipeline LP	6.650		01/15/37		113,450
	250,000		Plains All American Pipeline LP	5.150		06/01/42		241,988
	300,000		Plains All American Pipeline LP	4.700		06/15/44		281,492
	300,000		Plains All American Pipeline LP	4.900		02/15/45		287,618
	675,000		Sabine Pass Liquefaction LLC	5.625		04/15/23		690,625
	690,000		Sabine Pass Liquefaction LLC	5.750		05/15/24		722,180
	1,775,000		Sabine Pass Liquefaction LLC	5.625		03/01/25		1,876,705
	275,000		Sabine Pass Liquefaction LLC	5.875		06/30/26		297,296
	2,675,000		Sabine Pass Liquefaction LLC	5.000		03/15/27		2,828,984
	550,000		Sabine Pass Liquefaction LLC	4.200		03/15/28		564,787
	1,500,000		Sabine Pass Liquefaction LLC	4.500		05/15/30		1,568,651
	1,000,000		Schlumberger Investment S.A.	3.650		12/01/23		1,016,148
	1,500,000		Schlumberger Investment S.A.	2.650		06/26/30		1,420,265
	1,000,000		Shell International Finance BV	0.375		09/15/23		974,083
	5,075,000		Shell International Finance BV	3.250		05/11/25		5,130,072
	2,075,000		Shell International Finance BV	2.875		05/10/26		2,079,202
	925,000		Shell International Finance BV	2.500		09/12/26		911,847
	1,225,000		Shell International Finance BV	3.875		11/13/28		1,274,577
	3,000,000		Shell International Finance BV	2.375		11/07/29		2,841,546
	2,500,000		Shell International Finance BV	2.750		04/06/30		2,424,983
	500,000		Shell International Finance BV	4.125		05/11/35		528,473
	350,000		Shell International Finance BV	6.375		12/15/38		462,865
	100,000		Shell International Finance BV	5.500		03/25/40		123,039
	1,500,000		Shell International Finance BV	2.875		11/26/41		1,347,393
	1,200,000		Shell International Finance BV	4.550		08/12/43		1,333,482
	2,025,000		Shell International Finance BV	4.375		05/11/45		2,184,442
	650,000		Shell International Finance BV	4.000		05/10/46		677,704
	3,180,000		Shell International Finance BV	3.750		09/12/46		3,213,574
	1,500,000		Shell International Finance BV	3.125		11/07/49		1,364,104
	1,500,000		Shell International Finance BV	3.250		04/06/50		1,407,099
	1,000,000		Shell International Finance BV	3.000		11/26/51		895,047
	200,000		Spectra Energy Partners LP	4.750		03/15/24		205,797
	400,000		Spectra Energy Partners LP	3.500		03/15/25		402,246
	1,100,000		Spectra Energy Partners LP	3.375		10/15/26		1,100,417
	200,000		Spectra Energy Partners LP	5.950		09/25/43		242,125
	600,000		Spectra Energy Partners LP	4.500		03/15/45		612,770
	500,000		Suncor Energy, Inc	2.800		05/15/23		500,738
	500,000		Suncor Energy, Inc	3.100		05/15/25		496,631
	250,000		Suncor Energy, Inc	6.800		05/15/38		322,023
	1,625,000		Suncor Energy, Inc	6.500		06/15/38		2,048,403
	1,550,000		Suncor Energy, Inc	4.000		11/15/47		1,551,626
	1,000,000		Suncor Energy, Inc	3.750		03/04/51		959,680
	300,000		Sunoco Logistics Partners Operations LP	4.250		04/01/24		305,823
	200,000		Sunoco Logistics Partners Operations LP	5.950		12/01/25		214,185
	400,000		Sunoco Logistics Partners Operations LP	3.900		07/15/26		402,147
	100,000		Sunoco Logistics Partners Operations LP	6.100		02/15/42		108,911
	300,000		Sunoco Logistics Partners Operations LP	5.300		04/01/44		308,205
	200,000		Sunoco Logistics Partners Operations LP	5.350		05/15/45		205,849
	1,225,000		Sunoco Logistics Partners Operations LP	5.400		10/01/47		1,282,491
	350,000	h	Targa Resources Corp	4.200		02/01/33		353,193
	575,000	h	Targa Resources Corp	4.950		04/15/52		585,817

37

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	300,000		Total Capital Canada Ltd	2.750	%	07/15/23	$	301,235
	750,000		Total Capital International S.A.	3.700		01/15/24		762,727
	450,000		Total Capital International S.A.	3.750		04/10/24		458,207
	500,000		Total Capital International S.A.	2.434		01/10/25		496,718
	900,000		Total Capital International S.A.	3.455		02/19/29		914,115
	1,300,000		Total Capital International S.A.	2.829		01/10/30		1,269,837
	775,000		Total Capital International S.A.	2.986		06/29/41		706,097
	500,000		Total Capital International S.A.	3.461		07/12/49		481,362
	1,500,000		Total Capital International S.A.	3.127		05/29/50		1,368,494
	1,000,000		Total Capital International S.A.	3.386		06/29/60		923,161
	1,125,000		Total Capital S.A.	3.883		10/11/28		1,168,929
	1,225,000		TransCanada PipeLines Ltd	4.875		01/15/26		1,287,563
	4,000,000		TransCanada PipeLines Ltd	4.100		04/15/30		4,130,280
	1,000,000		TransCanada PipeLines Ltd	2.500		10/12/31		906,501
	1,925,000		TransCanada PipeLines Ltd	4.625		03/01/34		2,054,076
	100,000		TransCanada PipeLines Ltd	6.200		10/15/37		122,243
	500,000		TransCanada PipeLines Ltd	4.750		05/15/38		539,376
	200,000		TransCanada PipeLines Ltd	7.625		01/15/39		279,226
	125,000		TransCanada PipeLines Ltd	6.100		06/01/40		153,414
	1,200,000		TransCanada PipeLines Ltd	5.000		10/16/43		1,323,155
	750,000		TransCanada PipeLines Ltd	4.875		05/15/48		840,919
	1,425,000		TransCanada PipeLines Ltd	5.100		03/15/49		1,659,683
	700,000		Transcontinental Gas Pipe Line Co LLC	7.850		02/01/26		802,449
	1,200,000		Transcontinental Gas Pipe Line Co LLC	4.000		03/15/28		1,227,482
	500,000		Transcontinental Gas Pipe Line Co LLC	3.250		05/15/30		487,609
	850,000		Transcontinental Gas Pipe Line Co LLC	4.600		03/15/48		906,826
	500,000		Transcontinental Gas Pipe Line Co LLC	3.950		05/15/50		486,196
	5,525,000		Vale Overseas Ltd	6.250		08/10/26		6,064,793
	1,000,000		Vale Overseas Ltd	3.750		07/08/30		965,000
	150,000		Vale Overseas Ltd	8.250		01/17/34		195,375
	1,164,000		Vale Overseas Ltd	6.875		11/21/36		1,404,087
	306,000		Valero Energy Corp	2.850		04/15/25		302,338
	750,000	e	Valero Energy Corp	2.150		09/15/27		701,381
	500,000		Valero Energy Corp	4.350		06/01/28		518,928
	2,075,000		Valero Energy Corp	4.000		04/01/29		2,116,429
	1,500,000		Valero Energy Corp	2.800		12/01/31		1,384,427
	455,000		Valero Energy Corp	7.500		04/15/32		574,296
	850,000		Valero Energy Corp	6.625		06/15/37		1,051,457
	300,000		Valero Energy Corp	4.900		03/15/45		318,077
	1,500,000		Valero Energy Corp	3.650		12/01/51		1,323,777
	1,000,000		Valero Energy Corp	4.000		06/01/52		939,802
	300,000		Valero Energy Partners LP	4.500		03/15/28		307,307
	3,500,000		Williams Cos, Inc	2.600		03/15/31		3,222,838
	1,500,000		Williams Cos, Inc	3.500		10/15/51		1,312,919
	300,000		Williams Partners LP	4.500		11/15/23		306,239
	150,000		Williams Partners LP	3.900		01/15/25		152,114
	925,000		Williams Partners LP	4.000		09/15/25		941,135
	1,300,000		Williams Partners LP	3.750		06/15/27		1,314,203
	300,000		Williams Partners LP	6.300		04/15/40		361,659
	300,000		Williams Partners LP	5.800		11/15/43		342,390
	300,000		Williams Partners LP	5.400		03/04/44		329,400
	1,000,000		Williams Partners LP	4.900		01/15/45		1,043,917
	225,000		Williams Partners LP	5.100		09/15/45		243,794
	1,700,000		Williams Partners LP	4.850		03/01/48		1,813,836
			TOTAL ENERGY					367,134,229

38

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
FOOD & STAPLES RETAILING - 0.2%
$	400,000		Costco Wholesale Corp	2.750	%	05/18/24	$	402,855
	625,000		Costco Wholesale Corp	3.000		05/18/27		628,818
	475,000		Costco Wholesale Corp	1.375		06/20/27		441,478
	725,000		Costco Wholesale Corp	1.600		04/20/30		649,616
	1,800,000		Costco Wholesale Corp	1.750		04/20/32		1,594,091
	69,000		Delhaize Group S.A.	5.700		10/01/40		82,966
	200,000		Kroger Co	3.850		08/01/23		202,950
	300,000		Kroger Co	4.000		02/01/24		305,726
	100,000		Kroger Co	3.500		02/01/26		101,000
	1,275,000		Kroger Co	2.650		10/15/26		1,242,951
	175,000		Kroger Co	3.700		08/01/27		179,657
	1,150,000		Kroger Co	4.500		01/15/29		1,224,416
	250,000		Kroger Co	2.200		05/01/30		228,229
	1,500,000		Kroger Co	1.700		01/15/31		1,301,289
	100,000		Kroger Co	6.900		04/15/38		131,684
	250,000		Kroger Co	5.000		04/15/42		277,367
	300,000		Kroger Co	5.150		08/01/43		348,320
	300,000		Kroger Co	3.875		10/15/46		294,889
	900,000		Kroger Co	4.450		02/01/47		956,469
	700,000		Kroger Co	4.650		01/15/48		762,717
	300,000		Kroger Co	5.400		01/15/49		359,609
	500,000		Kroger Co	3.950		01/15/50		505,803
	125,000		SYSCO Corp	3.750		10/01/25		126,883
	350,000		SYSCO Corp	3.300		07/15/26		351,558
	1,000,000		SYSCO Corp	2.400		02/15/30		929,927
	332,000		SYSCO Corp	5.950		04/01/30		385,110
	400,000		SYSCO Corp	2.450		12/14/31		366,738
	300,000		SYSCO Corp	4.850		10/01/45		319,046
	500,000		SYSCO Corp	4.500		04/01/46		519,114
	250,000		SYSCO Corp	4.450		03/15/48		259,256
	550,000		SYSCO Corp	3.300		02/15/50		480,509
	905,000		SYSCO Corp	6.600		04/01/50		1,216,329
	675,000		SYSCO Corp	3.150		12/14/51		575,665
	622,000		Walgreens Boots Alliance, Inc	3.450		06/01/26		625,160
	750,000	e	Walgreens Boots Alliance, Inc	3.200		04/15/30		731,162
	1,400,000		Walgreens Boots Alliance, Inc	4.500		11/18/34		1,441,263
	525,000		Walgreens Boots Alliance, Inc	4.650		06/01/46		549,582
	750,000		Walgreens Boots Alliance, Inc	4.100		04/15/50		730,563
	1,475,000		Walmart, Inc	2.550		04/11/23		1,483,835
	1,100,000		Walmart, Inc	3.400		06/26/23		1,118,745
	1,250,000		Walmart, Inc	3.300		04/22/24		1,271,037
	500,000		Walmart, Inc	1.050		09/17/26		465,529
	1,000,000		Walmart, Inc	1.500		09/22/28		918,155
	21,000		Walmart, Inc	2.375		09/24/29		20,290
	1,750,000		Walmart, Inc	1.800		09/22/31		1,591,945
	825,000		Walmart, Inc	2.500		09/22/41		732,779
	1,500,000		Walmart, Inc	2.650		09/22/51		1,333,402
			TOTAL FOOD & STAPLES RETAILING					30,766,482
FOOD, BEVERAGE & TOBACCO - 0.9%
	300,000		Altria Group, Inc	2.350		05/06/25		291,377
	727,000		Altria Group, Inc	4.400		02/14/26		751,994
	700,000	e	Altria Group, Inc	2.625		09/16/26		675,349
	800,000		Altria Group, Inc	3.400		05/06/30		769,390
	1,175,000		Altria Group, Inc	2.450		02/04/32		1,021,392

39

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	800,000		Altria Group, Inc	5.800	%	02/14/39	$	862,241
	1,500,000		Altria Group, Inc	3.400		02/04/41		1,230,969
	925,000		Altria Group, Inc	4.250		08/09/42		824,177
	300,000		Altria Group, Inc	4.500		05/02/43		273,124
	775,000		Altria Group, Inc	5.375		01/31/44		801,027
	900,000		Altria Group, Inc	3.875		09/16/46		762,069
	1,875,000		Altria Group, Inc	5.950		02/14/49		2,029,788
	1,000,000		Altria Group, Inc	4.450		05/06/50		907,450
	1,000,000		Altria Group, Inc	3.700		02/04/51		807,731
	1,000,000	e	Altria Group, Inc	4.000		02/04/61		838,058
	1,125,000		Anheuser-Busch InBev Finance, Inc	4.625		02/01/44		1,198,714
	625,000		Anheuser-Busch InBev Worldwide, Inc	4.900		01/23/31		693,823
	1,700,000		Anheuser-Busch InBev Worldwide, Inc	4.375		04/15/38		1,786,313
	100,000		Anheuser-Busch InBev Worldwide, Inc	8.200		01/15/39		147,742
	2,675,000		Anheuser-Busch InBev Worldwide, Inc	5.450		01/23/39		3,123,797
	500,000		Anheuser-Busch InBev Worldwide, Inc	4.350		06/01/40		520,321
	150,000		Anheuser-Busch InBev Worldwide, Inc	4.950		01/15/42		165,603
	425,000		Anheuser-Busch InBev Worldwide, Inc	4.600		04/15/48		458,691
	1,764,000		Anheuser-Busch InBev Worldwide, Inc	4.439		10/06/48		1,846,554
	2,025,000		Anheuser-Busch InBev Worldwide, Inc	5.550		01/23/49		2,469,033
	5,441,000		Anheuser-Busch InBev Worldwide, Inc	4.500		06/01/50		5,813,394
	1,725,000		Anheuser-Busch InBev Worldwide, Inc	4.750		04/15/58		1,870,542
	2,150,000		Anheuser-Busch InBev Worldwide, Inc	5.800		01/23/59		2,713,415
	500,000		Anheuser-Busch InBev Worldwide, Inc	4.600		06/01/60		531,424
	3,075,000		Archer-Daniels-Midland Co	2.500		08/11/26		3,019,135
	1,500,000		Archer-Daniels-Midland Co	3.250		03/27/30		1,511,850
	500,000		Archer-Daniels-Midland Co	2.900		03/01/32		489,317
	800,000		Archer-Daniels-Midland Co	4.500		03/15/49		933,431
	1,000,000		Archer-Daniels-Midland Co	2.700		09/15/51		881,901
	4,950,000		BAT Capital Corp	3.222		08/15/24		4,948,188
	500,000		BAT Capital Corp	2.789		09/06/24		493,431
	3,525,000		BAT Capital Corp	3.557		08/15/27		3,430,705
	400,000		BAT Capital Corp	2.259		03/25/28		358,909
	275,000		BAT Capital Corp	4.906		04/02/30		283,263
	650,000		BAT Capital Corp	2.726		03/25/31		572,844
	1,400,000		BAT Capital Corp	4.390		08/15/37		1,301,884
	475,000		BAT Capital Corp	3.734		09/25/40		389,180
	2,625,000		BAT Capital Corp	4.540		08/15/47		2,342,516
	900,000		BAT Capital Corp	4.758		09/06/49		827,250
	500,000		BAT Capital Corp	5.282		04/02/50		494,571
	1,000,000		BAT Capital Corp	3.984		09/25/50		810,388
	5,000,000		BAT International Finance plc	1.668		03/25/26		4,588,040
	500,000		BAT International Finance plc	4.448		03/16/28		501,063
	200,000		Brown-Forman Corp	3.500		04/15/25		202,778
	200,000		Brown-Forman Corp	4.000		04/15/38		204,808
	200,000		Brown-Forman Corp	4.500		07/15/45		216,897
	500,000		Bunge Ltd	1.630		08/17/25		473,604
	125,000		Bunge Ltd	3.250		08/15/26		124,365
	500,000		Bunge Ltd	3.750		09/25/27		502,622
	1,500,000		Bunge Ltd	2.750		05/14/31		1,379,908
	215,000		Campbell Soup Co	3.650		03/15/23		217,524
	500,000		Campbell Soup Co	3.950		03/15/25		508,789
	725,000		Campbell Soup Co	4.150		03/15/28		742,823
	500,000		Campbell Soup Co	2.375		04/24/30		455,948
	800,000		Campbell Soup Co	4.800		03/15/48		868,506
	500,000		Campbell Soup Co	3.125		04/24/50		416,139

40

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	300,000	Coca-Cola Bottling Co Consolidated	3.800	%	11/25/25	$	307,584
	800,000	Coca-Cola Co	1.750		09/06/24		791,783
	1,000,000	Coca-Cola Co	1.450		06/01/27		937,999
	1,000,000	Coca-Cola Co	1.500		03/05/28		919,647
	2,000,000	Coca-Cola Co	1.000		03/15/28		1,787,247
	600,000	Coca-Cola Co	2.125		09/06/29		565,236
	300,000	Coca-Cola Co	3.450		03/25/30		308,355
	800,000	Coca-Cola Co	1.650		06/01/30		717,606
	1,500,000	Coca-Cola Co	2.000		03/05/31		1,372,680
	2,000,000	Coca-Cola Co	1.375		03/15/31		1,732,905
	2,000,000	Coca-Cola Co	2.250		01/05/32		1,865,079
	725,000	Coca-Cola Co	2.500		06/01/40		644,006
	1,000,000	Coca-Cola Co	2.875		05/05/41		923,464
	1,500,000	Coca-Cola Co	2.600		06/01/50		1,281,299
	1,500,000	Coca-Cola Co	3.000		03/05/51		1,380,913
	1,000,000	Coca-Cola Co	2.750		06/01/60		846,897
	1,500,000	Coca-Cola Femsa SAB de C.V.	2.750		01/22/30		1,435,545
	200,000	Coca-Cola Femsa SAB de C.V.	5.250		11/26/43		226,045
	475,000	ConAgra Brands, Inc	0.500		08/11/23		459,804
	1,000,000	ConAgra Brands, Inc	4.300		05/01/24		1,027,524
	450,000	ConAgra Brands, Inc	4.600		11/01/25		465,881
	500,000	ConAgra Brands, Inc	1.375		11/01/27		443,719
	100,000	ConAgra Brands, Inc	7.000		10/01/28		118,034
	1,575,000	ConAgra Brands, Inc	4.850		11/01/28		1,665,784
	750,000	ConAgra Brands, Inc	5.300		11/01/38		824,492
	750,000	ConAgra Brands, Inc	5.400		11/01/48		861,141
	2,275,000	Constellation Brands, Inc	4.250		05/01/23		2,317,015
	100,000	Constellation Brands, Inc	4.400		11/15/25		103,186
	750,000	Constellation Brands, Inc	3.700		12/06/26		756,525
	300,000	Constellation Brands, Inc	3.500		05/09/27		300,571
	700,000	Constellation Brands, Inc	3.600		02/15/28		694,720
	300,000	Constellation Brands, Inc	4.650		11/15/28		316,393
	1,000,000	Constellation Brands, Inc	3.150		08/01/29		965,619
	100,000	Constellation Brands, Inc	2.875		05/01/30		93,799
	425,000	Constellation Brands, Inc	2.250		08/01/31		374,232
	300,000	Constellation Brands, Inc	4.100		02/15/48		289,138
	300,000	Constellation Brands, Inc	5.250		11/15/48		335,268
	1,250,000	Constellation Brands, Inc	3.750		05/01/50		1,157,727
	750,000	Diageo Capital plc	2.125		10/24/24		737,273
	500,000	Diageo Capital plc	1.375		09/29/25		473,496
	425,000	Diageo Capital plc	3.875		05/18/28		437,273
	1,033,000	Diageo Capital plc	2.000		04/29/30		941,941
	1,900,000	Diageo Capital plc	2.125		04/29/32		1,713,822
	200,000	Diageo Capital plc	5.875		09/30/36		251,352
	400,000	Diageo Capital plc	3.875		04/29/43		410,528
	100,000	Flowers Foods, Inc	3.500		10/01/26		100,857
	400,000	Flowers Foods, Inc	2.400		03/15/31		358,829
	200,000	Fomento Economico Mexicano SAB de C.V.	2.875		05/10/23		200,392
	300,000	Fomento Economico Mexicano SAB de C.V.	4.375		05/10/43		314,517
	2,500,000	Fomento Economico Mexicano SAB de C.V.	3.500		01/16/50		2,312,200
	200,000	General Mills, Inc	3.700		10/17/23		203,234
	500,000	General Mills, Inc	3.650		02/15/24		507,361
	150,000	General Mills, Inc	4.000		04/17/25		153,110
	800,000	General Mills, Inc	3.200		02/10/27		793,332
	3,800,000	General Mills, Inc	4.200		04/17/28		3,967,758
	100,000	General Mills, Inc	2.875		04/15/30		96,063

41

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	1,000,000		General Mills, Inc	2.250	%	10/14/31	$	897,051
	951,000		General Mills, Inc	3.000		02/01/51		819,355
	300,000		Hershey Co	2.050		11/15/24		296,059
	500,000		Hershey Co	0.900		06/01/25		470,707
	300,000		Hershey Co	2.450		11/15/29		289,169
	500,000		Hershey Co	1.700		06/01/30		449,864
	300,000		Hershey Co	3.375		08/15/46		290,936
	300,000		Hershey Co	3.125		11/15/49		277,008
	100,000		Hershey Co	2.650		06/01/50		84,953
	1,500,000		Hormel Foods Corp	1.700		06/03/28		1,379,438
	1,500,000		Hormel Foods Corp	1.800		06/11/30		1,344,278
	500,000		Hormel Foods Corp	3.050		06/03/51		448,880
	300,000		Ingredion, Inc	3.200		10/01/26		297,621
	750,000		Ingredion, Inc	3.900		06/01/50		720,901
	425,000		J M Smucker Co	2.125		03/15/32		371,092
	550,000		J M Smucker Co	2.750		09/15/41		447,965
	1,475,000		JM Smucker Co	3.500		03/15/25		1,493,372
	200,000		JM Smucker Co	3.375		12/15/27		199,772
	150,000		JM Smucker Co	2.375		03/15/30		137,398
	300,000		JM Smucker Co	4.250		03/15/35		306,794
	300,000		JM Smucker Co	4.375		03/15/45		303,489
	400,000		JM Smucker Co	3.550		03/15/50		361,599
	417,000		Kellogg Co	2.650		12/01/23		417,095
	1,800,000		Kellogg Co	3.250		04/01/26		1,805,355
	200,000		Kellogg Co	3.400		11/15/27		199,590
	800,000		Kellogg Co	4.300		05/15/28		827,846
	275,000		Kellogg Co	2.100		06/01/30		246,819
	150,000		Kellogg Co	4.500		04/01/46		161,226
	804,000		Keurig Dr Pepper, Inc	4.057		05/25/23		817,967
	500,000		Keurig Dr Pepper, Inc	3.130		12/15/23		503,990
	275,000		Keurig Dr Pepper, Inc	4.417		05/25/25		284,182
	200,000		Keurig Dr Pepper, Inc	3.400		11/15/25		201,198
	200,000		Keurig Dr Pepper, Inc	2.550		09/15/26		193,713
	2,750,000		Keurig Dr Pepper, Inc	4.597		05/25/28		2,899,830
	750,000		Keurig Dr Pepper, Inc	3.200		05/01/30		726,940
	1,500,000		Keurig Dr Pepper, Inc	2.250		03/15/31		1,349,624
	500,000		Keurig Dr Pepper, Inc	4.420		12/15/46		519,277
	750,000		Keurig Dr Pepper, Inc	5.085		05/25/48		852,109
	1,500,000		Keurig Dr Pepper, Inc	3.350		03/15/51		1,309,495
	750,000	g	Kyndryl Holdings, Inc	2.050		10/15/26		669,573
	750,000	g	Kyndryl Holdings, Inc	2.700		10/15/28		648,895
	750,000	g	Kyndryl Holdings, Inc	3.150		10/15/31		631,907
	750,000	g	Kyndryl Holdings, Inc	4.100		10/15/41		581,023
	250,000		McCormick & Co, Inc	3.150		08/15/24		250,674
	625,000		McCormick & Co, Inc	0.900		02/15/26		571,650
	250,000		McCormick & Co, Inc	3.400		08/15/27		251,676
	500,000		McCormick & Co, Inc	2.500		04/15/30		463,699
	325,000		McCormick & Co, Inc	1.850		02/15/31		282,836
	400,000		McCormick & Co, Inc	4.200		08/15/47		414,793
	925,000		Mead Johnson Nutrition Co	4.125		11/15/25		946,964
	350,000		Mead Johnson Nutrition Co	4.600		06/01/44		391,357
	1,025,000		Molson Coors Brewing Co	3.000		07/15/26		1,012,202
	525,000		Molson Coors Brewing Co	5.000		05/01/42		555,331
	1,550,000		Molson Coors Brewing Co	4.200		07/15/46		1,503,810
	1,000,000		Mondelez International, Inc	1.500		05/04/25		955,172
	1,500,000		Mondelez International, Inc	2.625		03/17/27		1,463,609

42

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	356,000		Mondelez International, Inc	2.750	%	04/13/30	$	340,574
	400,000	e	Mondelez International, Inc	1.500		02/04/31		341,234
	1,000,000		Mondelez International, Inc	3.000		03/17/32		965,081
	725,000		Mondelez International, Inc	1.875		10/15/32		625,172
	1,200,000		Mondelez International, Inc	2.625		09/04/50		971,444
	700,000		PepsiCo, Inc	2.750		03/01/23		705,382
	1,000,000		PepsiCo, Inc	0.400		10/07/23		976,549
	1,425,000		PepsiCo, Inc	3.600		03/01/24		1,457,086
	525,000		PepsiCo, Inc	2.750		04/30/25		524,554
	425,000		PepsiCo, Inc	3.500		07/17/25		434,989
	275,000		PepsiCo, Inc	2.850		02/24/26		276,922
	1,300,000		PepsiCo, Inc	2.375		10/06/26		1,271,249
	150,000		PepsiCo, Inc	2.625		03/19/27		149,067
	500,000		PepsiCo, Inc	2.750		03/19/30		491,100
	2,275,000		PepsiCo, Inc	1.625		05/01/30		2,045,445
	2,000,000		PepsiCo, Inc	1.400		02/25/31		1,748,555
	2,000,000		PepsiCo, Inc	1.950		10/21/31		1,825,520
	575,000		PepsiCo, Inc	2.625		10/21/41		522,771
	750,000		PepsiCo, Inc	2.875		10/15/49		694,775
	1,000,000		PepsiCo, Inc	2.750		10/21/51		894,240
	300,000		Philip Morris International, Inc	2.125		05/10/23		299,127
	300,000		Philip Morris International, Inc	3.600		11/15/23		305,051
	600,000		Philip Morris International, Inc	3.250		11/10/24		603,947
	500,000		Philip Morris International, Inc	1.500		05/01/25		476,592
	500,000		Philip Morris International, Inc	3.375		08/11/25		503,208
	700,000		Philip Morris International, Inc	2.750		02/25/26		694,105
	1,000,000		Philip Morris International, Inc	0.875		05/01/26		912,353
	1,300,000		Philip Morris International, Inc	3.125		08/17/27		1,282,106
	1,500,000		Philip Morris International, Inc	3.125		03/02/28		1,466,142
	1,450,000		Philip Morris International, Inc	3.375		08/15/29		1,440,689
	450,000		Philip Morris International, Inc	2.100		05/01/30		404,889
	1,000,000		Philip Morris International, Inc	1.750		11/01/30		865,114
	400,000		Philip Morris International, Inc	6.375		05/16/38		490,730
	225,000		Philip Morris International, Inc	4.375		11/15/41		222,838
	200,000		Philip Morris International, Inc	4.500		03/20/42		200,478
	275,000		Philip Morris International, Inc	3.875		08/21/42		255,765
	300,000		Philip Morris International, Inc	4.125		03/04/43		285,222
	200,000		Philip Morris International, Inc	4.875		11/15/43		208,954
	2,000,000		Philip Morris International, Inc	4.250		11/10/44		1,934,428
	200,000		Reynolds American, Inc	4.850		09/15/23		204,875
	550,000		Reynolds American, Inc	4.450		06/12/25		561,583
	750,000		Reynolds American, Inc	5.700		08/15/35		791,312
	65,000		Reynolds American, Inc	7.250		06/15/37		76,039
	200,000		Reynolds American, Inc	6.150		09/15/43		211,444
	1,775,000		Reynolds American, Inc	5.850		08/15/45		1,826,345
	100,000		Tyson Foods, Inc	3.900		09/28/23		101,293
	750,000		Tyson Foods, Inc	3.950		08/15/24		764,450
	500,000		Tyson Foods, Inc	4.000		03/01/26		512,271
	1,150,000		Tyson Foods, Inc	3.550		06/02/27		1,159,004
	500,000		Tyson Foods, Inc	4.350		03/01/29		527,127
	500,000		Tyson Foods, Inc	5.150		08/15/44		566,529
	300,000		Tyson Foods, Inc	4.550		06/02/47		320,358
	1,700,000		Tyson Foods, Inc	5.100		09/28/48		1,979,264
			TOTAL FOOD, BEVERAGE & TOBACCO					192,580,748

43

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
HEALTH CARE EQUIPMENT & SERVICES - 1.3%
$	200,000		Abbott Laboratories	3.400	%	11/30/23	$	203,308
	275,000		Abbott Laboratories	2.950		03/15/25		276,832
	1,708,000		Abbott Laboratories	3.750		11/30/26		1,772,533
	625,000		Abbott Laboratories	1.150		01/30/28		571,582
	200,000		Abbott Laboratories	1.400		06/30/30		178,894
	2,750,000		Abbott Laboratories	4.750		11/30/36		3,195,682
	3,450,000		Abbott Laboratories	4.900		11/30/46		4,201,707
	500,000		Adventist Health System	2.952		03/01/29		486,621
	500,000		Adventist Health System	3.630		03/01/49		483,073
	200,000		Advocate Health & Hospitals Corp	3.829		08/15/28		204,484
	750,000		Advocate Health & Hospitals Corp	2.211		06/15/30		692,759
	100,000		Advocate Health & Hospitals Corp	4.272		08/15/48		109,278
	600,000		Advocate Health & Hospitals Corp	3.387		10/15/49		570,904
	500,000		Advocate Health & Hospitals Corp	3.008		06/15/50		441,963
	1,500,000		AHS Hospital Corp	2.780		07/01/51		1,273,380
	200,000		Allina Health System	3.887		04/15/49		201,972
	520,000		Allina Health System	2.902		11/15/51		440,580
	400,000		AmerisourceBergen Corp	3.400		05/15/24		403,736
	700,000		AmerisourceBergen Corp	3.250		03/01/25		700,155
	200,000		AmerisourceBergen Corp	3.450		12/15/27		200,249
	1,000,000		AmerisourceBergen Corp	2.800		05/15/30		945,161
	1,000,000		AmerisourceBergen Corp	2.700		03/15/31		924,129
	700,000		AmerisourceBergen Corp	4.300		12/15/47		706,090
	225,000		Anthem, Inc	3.500		08/15/24		228,347
	1,625,000		Anthem, Inc	3.350		12/01/24		1,637,629
	1,500,000		Anthem, Inc	2.375		01/15/25		1,478,964
	1,000,000		Anthem, Inc	1.500		03/15/26		942,024
	850,000		Anthem, Inc	3.650		12/01/27		867,508
	1,225,000		Anthem, Inc	4.101		03/01/28		1,270,790
	500,000		Anthem, Inc	2.875		09/15/29		483,151
	1,500,000		Anthem, Inc	2.250		05/15/30		1,376,334
	1,000,000		Anthem, Inc	2.550		03/15/31		934,129
	1,150,000		Anthem, Inc	4.625		05/15/42		1,256,231
	125,000		Anthem, Inc	4.650		01/15/43		136,459
	500,000		Anthem, Inc	5.100		01/15/44		576,325
	425,000		Anthem, Inc	4.650		08/15/44		463,105
	625,000		Anthem, Inc	4.375		12/01/47		669,270
	1,800,000		Anthem, Inc	4.550		03/01/48		1,990,448
	500,000		Anthem, Inc	3.700		09/15/49		486,100
	1,150,000		Anthem, Inc	3.125		05/15/50		1,012,711
	425,000		Anthem, Inc	3.600		03/15/51		406,311
	1,000,000		Ascension Health	2.532		11/15/29		962,511
	1,000,000		Ascension Health	3.106		11/15/39		933,545
	875,000		Ascension Health	3.945		11/15/46		908,379
	200,000		Ascension Health	4.847		11/15/53		240,446
	500,000		Banner Health	2.338		01/01/30		464,397
	750,000		Banner Health	1.897		01/01/31		663,961
	1,000,000		Banner Health	2.907		01/01/42		885,055
	500,000		Banner Health	3.181		01/01/50		453,827
	750,000		Banner Health	2.913		01/01/51		645,352
	1,000,000		Baptist Health South Florida Obligated Group	3.115		11/15/71		793,663
	1,000,000		Baptist Healthcare System Obligated Group	3.540		08/15/50		912,924
	475,000		Baxter International, Inc	2.600		08/15/26		460,457
	2,000,000	g	Baxter International, Inc	1.915		02/01/27		1,868,961
	1,350,000	g	Baxter International, Inc	2.272		12/01/28		1,250,633

44

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	2,000,000		Baxter International, Inc	1.730	%	04/01/31	$	1,723,826
	1,150,000	g	Baxter International, Inc	2.539		02/01/32		1,050,109
	300,000		Baxter International, Inc	3.500		08/15/46		274,964
	2,000,000	g	Baxter International, Inc	3.132		12/01/51		1,712,107
	1,500,000		Baylor Scott & White Holdings	1.777		11/15/30		1,326,045
	290,000		Baylor Scott & White Holdings	4.185		11/15/45		306,022
	200,000		Baylor Scott & White Holdings	3.967		11/15/46		207,586
	2,000,000		Baylor Scott & White Holdings	2.839		11/15/50		1,683,706
	635,000		Becton Dickinson & Co	3.363		06/06/24		640,287
	165,000		Becton Dickinson & Co	3.734		12/15/24		167,672
	1,277,000		Becton Dickinson & Co	3.700		06/06/27		1,295,541
	675,000		Becton Dickinson & Co	2.823		05/20/30		642,227
	391,000		Becton Dickinson & Co	4.685		12/15/44		419,863
	1,000,000		Becton Dickinson & Co	4.669		06/06/47		1,089,224
	1,000,000		Becton Dickinson & Co	3.794		05/20/50		968,964
	1,500,000		Becton Dickinson and Co	1.957		02/11/31		1,325,103
	235,000		Beth Israel Lahey Health, Inc	3.080		07/01/51		202,724
	200,000		Bio-Rad Laboratories, Inc	3.300		03/15/27		196,780
	525,000		Bio-Rad Laboratories, Inc	3.700		03/15/32		518,802
	500,000		Bon Secours Mercy Health, Inc	3.464		06/01/30		502,288
	500,000		Bon Secours Mercy Health, Inc	2.095		06/01/31		445,232
	500,000		Bon Secours Mercy Health, Inc	3.205		06/01/50		423,598
	219,000		Boston Scientific Corp	3.450		03/01/24		221,584
	1,500,000		Boston Scientific Corp	2.650		06/01/30		1,407,474
	343,000		Boston Scientific Corp	4.550		03/01/39		370,434
	256,000		Boston Scientific Corp	4.700		03/01/49		285,253
	200,000		Cardinal Health, Inc	3.200		03/15/23		201,385
	650,000		Cardinal Health, Inc	3.079		06/15/24		650,293
	100,000		Cardinal Health, Inc	3.500		11/15/24		100,910
	200,000		Cardinal Health, Inc	3.750		09/15/25		202,783
	1,475,000		Cardinal Health, Inc	3.410		06/15/27		1,481,405
	100,000		Cardinal Health, Inc	4.600		03/15/43		100,337
	200,000		Cardinal Health, Inc	4.500		11/15/44		197,444
	200,000		Cardinal Health, Inc	4.900		09/15/45		206,659
	500,000		Cardinal Health, Inc	4.368		06/15/47		497,351
	100,000		Children’s Hospital Corp	4.115		01/01/47		106,755
	1,000,000		Children’s Hospital Corp	2.585		02/01/50		799,982
	1,000,000		Children’s Hospital of Philadelphia	2.704		07/01/50		830,396
	200,000		CHRISTUS Health	4.341		07/01/28		207,636
	1,100,000		Cigna Corp	3.000		07/15/23		1,106,227
	623,000		Cigna Corp	3.750		07/15/23		632,095
	300,000		Cigna Corp	3.500		06/15/24		303,491
	900,000		Cigna Corp	3.250		04/15/25		904,793
	150,000		Cigna Corp	4.500		02/25/26		156,909
	1,000,000		Cigna Corp	1.250		03/15/26		933,743
	4,475,000		Cigna Corp	3.400		03/01/27		4,516,362
	300,000		Cigna Corp	3.050		10/15/27		297,281
	3,275,000		Cigna Corp	4.375		10/15/28		3,445,041
	250,000		Cigna Corp	2.400		03/15/30		231,034
	550,000		Cigna Corp	2.375		03/15/31		503,651
	1,700,000		Cigna Corp	4.800		08/15/38		1,860,897
	225,000		Cigna Corp	3.200		03/15/40		204,518
	93,000		Cigna Corp	6.125		11/15/41		116,358
	975,000		Cigna Corp	4.800		07/15/46		1,078,738
	1,150,000		Cigna Corp	3.875		10/15/47		1,120,255
	2,450,000		Cigna Corp	4.900		12/15/48		2,745,297

45

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	750,000	Cigna Corp	3.400	%	03/15/50	$	675,694
	1,100,000	Cigna Corp	3.400		03/15/51		991,119
	600,000	City of Hope	4.378		08/15/48		647,847
	750,000	Community Health Network, Inc	3.099		05/01/50		644,312
	900,000	CVS Health Corp	3.375		08/12/24		910,347
	250,000	CVS Health Corp	2.625		08/15/24		249,175
	1,969,000	CVS Health Corp	3.875		07/20/25		2,008,607
	2,550,000	CVS Health Corp	2.875		06/01/26		2,524,357
	1,250,000	CVS Health Corp	3.000		08/15/26		1,239,765
	9,500,000	CVS Health Corp	1.300		08/21/27		8,638,332
	1,216,000	CVS Health Corp	4.300		03/25/28		1,272,032
	275,000	CVS Health Corp	3.250		08/15/29		271,522
	1,825,000	CVS Health Corp	1.750		08/21/30		1,599,423
	1,525,000	CVS Health Corp	1.875		02/28/31		1,342,704
	1,000,000	CVS Health Corp	2.125		09/15/31		893,480
	4,100,000	CVS Health Corp	4.780		03/25/38		4,480,636
	850,000	CVS Health Corp	2.700		08/21/40		724,710
	400,000	CVS Health Corp	5.300		12/05/43		465,676
	1,800,000	CVS Health Corp	5.125		07/20/45		2,031,859
	8,525,000	CVS Health Corp	5.050		03/25/48		9,654,486
	100,000	Dartmouth-Hitchcock Health	4.178		08/01/48		103,305
	1,000,000	DENTSPLY SIRONA, Inc	3.250		06/01/30		963,570
	200,000	Dignity Health	5.267		11/01/64		233,166
	400,000	Duke University Health System, Inc	3.920		06/01/47		416,114
	400,000	Edwards Lifesciences Corp	4.300		06/15/28		416,692
	750,000	Hackensack Meridian Health, Inc	2.675		09/01/41		641,891
	200,000	Hackensack Meridian Health, Inc	4.211		07/01/48		215,410
	750,000	Hackensack Meridian Health, Inc	2.875		09/01/50		634,191
	200,000	Hackensack Meridian Health, Inc	4.500		07/01/57		231,216
	685,000	Hartford HealthCare Corp	3.447		07/01/54		646,633
	2,500,000	HCA, Inc	5.000		03/15/24		2,591,406
	2,000,000	HCA, Inc	4.500		02/15/27		2,065,691
	1,500,000	HCA, Inc	4.125		06/15/29		1,528,954
	2,000,000	HCA, Inc	2.375		07/15/31		1,787,414
	225,000	HCA, Inc	5.125		06/15/39		242,630
	875,000	HCA, Inc	5.500		06/15/47		987,349
	2,500,000	HCA, Inc	5.250		06/15/49		2,737,902
	1,000,000	HCA, Inc	3.500		07/15/51		867,083
	1,000,000	Hoag Memorial Hospital Presbyterian	3.803		07/15/52		1,013,062
	100,000	Humana, Inc	3.150		12/01/22		100,650
	300,000	Humana, Inc	3.850		10/01/24		304,758
	4,000,000	Humana, Inc	1.350		02/03/27		3,623,024
	600,000	Humana, Inc	3.950		03/15/27		609,424
	175,000	Humana, Inc	3.125		08/15/29		169,387
	325,000	Humana, Inc	2.150		02/03/32		284,756
	200,000	Humana, Inc	4.625		12/01/42		212,891
	300,000	Humana, Inc	4.950		10/01/44		336,987
	600,000	Humana, Inc	4.800		03/15/47		678,239
	500,000	Humana, Inc	3.950		08/15/49		498,958
	200,000	Indiana University Health, Inc Obligated Group	3.970		11/01/48		209,612
	1,500,000	Indiana University Health, Inc Obligated Group	2.852		11/01/51		1,291,041
	760,000	Integris Baptist Medical Center, Inc	3.875		08/15/50		771,816
	350,000	Johns Hopkins Health System Corp	3.837		05/15/46		360,189
	500,000	Kaiser Foundation Hospitals	3.150		05/01/27		498,886
	1,400,000	Kaiser Foundation Hospitals	2.810		06/01/41		1,222,483
	100,000	Kaiser Foundation Hospitals	4.875		04/01/42		114,915

46

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	1,265,000		Kaiser Foundation Hospitals	4.150	%	05/01/47	$	1,351,657
	1,000,000		Kaiser Foundation Hospitals	3.266		11/01/49		931,297
	2,000,000		Kaiser Foundation Hospitals	3.002		06/01/51		1,761,846
	755,000		Koninklijke Philips NV	5.000		03/15/42		826,962
	700,000		Laboratory Corp of America Holdings	4.000		11/01/23		709,381
	200,000		Laboratory Corp of America Holdings	3.250		09/01/24		200,823
	500,000		Laboratory Corp of America Holdings	2.300		12/01/24		489,949
	100,000		Laboratory Corp of America Holdings	3.600		02/01/25		101,003
	1,000,000		Laboratory Corp of America Holdings	1.550		06/01/26		931,130
	300,000		Laboratory Corp of America Holdings	3.600		09/01/27		303,734
	500,000		Laboratory Corp of America Holdings	2.950		12/01/29		480,481
	1,000,000		Laboratory Corp of America Holdings	2.700		06/01/31		926,800
	800,000		Laboratory Corp of America Holdings	4.700		02/01/45		851,813
	200,000		Mayo Clinic	4.000		11/15/47		207,362
	200,000		Mayo Clinic	4.128		11/15/52		214,364
	2,500,000		Mayo Clinic	3.196		11/15/61		2,244,323
	1,000,000		McKesson Corp	0.900		12/03/25		918,177
	500,000		McKesson Corp	1.300		08/15/26		459,030
	200,000		McLaren Health Care Corp	4.386		05/15/48		215,647
	1,441,000		Medtronic, Inc	3.500		03/15/25		1,470,547
	2,777,000		Medtronic, Inc	4.375		03/15/35		3,084,759
	1,074,000		Medtronic, Inc	4.625		03/15/45		1,238,075
	500,000		Memorial Health Services	3.447		11/01/49		470,152
	1,000,000		Memorial Sloan-Kettering Cancer Center	2.955		01/01/50		861,755
	200,000		Memorial Sloan-Kettering Cancer Center	4.125		07/01/52		212,426
	500,000		Memorial Sloan-Kettering Cancer Center	4.200		07/01/55		536,428
	200,000	e	Mercy Health	4.302		07/01/28		207,356
	1,000,000		Methodist Hospital	2.705		12/01/50		830,927
	500,000		Montefiore Obligated Group	5.246		11/01/48		496,441
	750,000		Montefiore Obligated Group	4.287		09/01/50		642,617
	1,000,000		Mount Nittany Medical Center Obligated Group	3.799		11/15/52		972,275
	100,000		Mount Sinai Hospitals Group, Inc	3.981		07/01/48		97,139
	600,000		Mount Sinai Hospitals Group, Inc	3.737		07/01/49		564,900
	895,000		Mount Sinai Hospitals Group, Inc	3.391		07/01/50		805,416
	1,000,000		MultiCare Health System	2.803		08/15/50		826,405
	1,000,000		New York and Presbyterian Hospital	2.256		08/01/40		791,405
	300,000		New York and Presbyterian Hospital	4.024		08/01/45		314,642
	150,000		New York and Presbyterian Hospital	4.063		08/01/56		161,951
	1,000,000		New York and Presbyterian Hospital	2.606		08/01/60		771,510
	500,000		New York and Presbyterian Hospital	3.954		08/01/19		463,494
	140,000		Northwell Healthcare, Inc	3.979		11/01/46		137,573
	675,000		Northwell Healthcare, Inc	4.260		11/01/47		680,658
	500,000		Northwell Healthcare, Inc	3.809		11/01/49		470,250
	1,000,000	e	NY Society for Relief of Ruptured & Crippled Maintaining Hosp Special Surgery	2.667		10/01/50		805,851
	350,000		NYU Hospitals Center	5.750		07/01/43		429,214
	250,000		NYU Hospitals Center	4.368		07/01/47		257,364
	915,000		NYU Langone Hospitals	3.380		07/01/55		811,618
	1,000,000		OhioHealth Corp	2.297		11/15/31		915,456
	1,000,000		OhioHealth Corp	2.834		11/15/41		871,203
	750,000		OhioHealth Corp	3.042		11/15/50		668,112
	100,000		Orlando Health Obligated Group	4.089		10/01/48		102,803
	1,000,000		Orlando Health Obligated Group	3.327		10/01/50		906,875
	750,000		PeaceHealth Obligated Group	1.375		11/15/25		706,642
	200,000		PeaceHealth Obligated Group	4.787		11/15/48		233,597

47

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	750,000		PeaceHealth Obligated Group	3.218	%	11/15/50	$	665,878
	1,000,000		Piedmont Healthcare, Inc	2.044		01/01/32		876,592
	1,000,000		Piedmont Healthcare, Inc	2.719		01/01/42		832,932
	1,000,000		Piedmont Healthcare, Inc	2.864		01/01/52		815,879
	200,000		Providence St. Joseph Health Obligated Group	2.746		10/01/26		197,935
	570,000		Providence St. Joseph Health Obligated Group	2.532		10/01/29		538,684
	100,000		Providence St. Joseph Health Obligated Group	3.744		10/01/47		97,634
	350,000		Providence St. Joseph Health Obligated Group	3.930		10/01/48		351,686
	1,000,000		Providence St. Joseph Health Obligated Group	2.700		10/01/51		789,843
	125,000		Quest Diagnostics, Inc	3.500		03/30/25		126,216
	225,000		Quest Diagnostics, Inc	3.450		06/01/26		226,987
	500,000		Quest Diagnostics, Inc	4.200		06/30/29		517,462
	750,000		Quest Diagnostics, Inc	2.950		06/30/30		711,519
	500,000		Quest Diagnostics, Inc	2.800		06/30/31		467,634
	300,000		Quest Diagnostics, Inc	4.700		03/30/45		325,358
	1,500,000		Rady Children’s Hospital-San Diego	3.154		08/15/51		1,347,942
	390,000		Rush Obligated Group	3.922		11/15/29		398,290
	200,000		RWJ Barnabas Health, Inc	3.949		07/01/46		204,833
	1,000,000		Sharp HealthCare	2.680		08/01/50		813,584
	1,000,000		Smith & Nephew plc	2.032		10/14/30		869,257
	300,000		SSM Health Care Corp	3.688		06/01/23		302,582
	400,000		SSM Health Care Corp	3.823		06/01/27		408,143
	500,000		Stanford Health Care	3.795		11/15/48		505,893
	1,620,000		Stanford Health Care	3.027		08/15/51		1,432,434
	1,000,000		Stryker Corp	0.600		12/01/23		969,915
	475,000		Stryker Corp	1.150		06/15/25		446,800
	200,000		Stryker Corp	3.375		11/01/25		201,678
	1,600,000		Stryker Corp	3.500		03/15/26		1,618,114
	500,000		Stryker Corp	3.650		03/07/28		508,377
	600,000		Stryker Corp	1.950		06/15/30		537,968
	200,000		Stryker Corp	4.100		04/01/43		202,880
	200,000		Stryker Corp	4.375		05/15/44		207,399
	550,000		Stryker Corp	4.625		03/15/46		609,402
	575,000		Stryker Corp	2.900		06/15/50		499,068
	1,500,000		Summa Health	3.511		11/15/51		1,424,991
	200,000		Sutter Health	3.695		08/15/28		202,441
	1,000,000		Sutter Health	2.294		08/15/30		904,559
	500,000		Sutter Health	3.161		08/15/40		438,297
	200,000		Sutter Health	4.091		08/15/48		202,757
	500,000		Sutter Health	3.361		08/15/50		445,871
	1,000,000		Texas Health Resources	2.328		11/15/50		760,020
	100,000		Texas Health Resources	4.330		11/15/55		111,632
	2,000,000		Trinity Health Corp	2.632		12/01/40		1,657,576
	300,000		Trinity Health Corp	4.125		12/01/45		308,259
	185,000		Trinity Health Corp	3.434		12/01/48		174,305
	500,000		UnitedHealth Group, Inc	3.700		12/15/25		513,005
	1,000,000		UnitedHealth Group, Inc	1.250		01/15/26		940,138
	3,000,000	e	UnitedHealth Group, Inc	1.150		05/15/26		2,787,731
	200,000		UnitedHealth Group, Inc	3.450		01/15/27		204,905
	300,000		UnitedHealth Group, Inc	3.375		04/15/27		304,732
	1,700,000		UnitedHealth Group, Inc	2.950		10/15/27		1,699,447
	2,375,000		UnitedHealth Group, Inc	3.850		06/15/28		2,471,731
	500,000		UnitedHealth Group, Inc	3.875		12/15/28		524,254
	1,000,000		UnitedHealth Group, Inc	2.875		08/15/29		982,836
	2,200,000		UnitedHealth Group, Inc	2.000		05/15/30		2,024,856
	1,750,000		UnitedHealth Group, Inc	2.300		05/15/31		1,643,545

48

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	150,000		UnitedHealth Group, Inc	5.800	%	03/15/36	$	185,902
	365,000		UnitedHealth Group, Inc	6.625		11/15/37		490,876
	200,000		UnitedHealth Group, Inc	6.875		02/15/38		278,455
	275,000		UnitedHealth Group, Inc	3.500		08/15/39		272,792
	1,000,000		UnitedHealth Group, Inc	2.750		05/15/40		898,133
	3,000,000		UnitedHealth Group, Inc	3.050		05/15/41		2,794,641
	300,000		UnitedHealth Group, Inc	4.375		03/15/42		326,412
	350,000		UnitedHealth Group, Inc	3.950		10/15/42		360,848
	375,000		UnitedHealth Group, Inc	4.250		03/15/43		405,696
	800,000		UnitedHealth Group, Inc	4.200		01/15/47		864,365
	300,000		UnitedHealth Group, Inc	4.250		04/15/47		324,995
	500,000		UnitedHealth Group, Inc	3.750		10/15/47		506,697
	1,700,000		UnitedHealth Group, Inc	4.250		06/15/48		1,859,399
	1,000,000		UnitedHealth Group, Inc	3.700		08/15/49		1,014,757
	4,000,000		UnitedHealth Group, Inc	2.900		05/15/50		3,545,516
	3,000,000		UnitedHealth Group, Inc	3.250		05/15/51		2,817,797
	1,250,000		UnitedHealth Group, Inc	3.875		08/15/59		1,287,392
	1,000,000		UnitedHealth Group, Inc	3.125		05/15/60		889,286
	1,000,000	g	Universal Health Services, Inc	1.650		09/01/26		917,306
	1,000,000	g	Universal Health Services, Inc	2.650		01/15/32		898,700
	370,000		WakeMed	3.286		10/01/52		324,496
	200,000		West Virginia United Health System Obligated Group	3.129		06/01/50		168,874
	500,000		Willis-Knighton Medical Center	3.065		03/01/51		423,255
	600,000		Zimmer Biomet Holdings, Inc	1.450		11/22/24		575,434
	225,000		Zimmer Biomet Holdings, Inc	3.050		01/15/26		222,558
	1,500,000		Zimmer Biomet Holdings, Inc	2.600		11/24/31		1,368,957
			TOTAL HEALTH CARE EQUIPMENT & SERVICES					265,192,078
HOUSEHOLD & PERSONAL PRODUCTS - 0.1%
	500,000		Church & Dwight Co, Inc	3.150		08/01/27		499,932
	250,000		Church & Dwight Co, Inc	2.300		12/15/31		228,708
	100,000		Church & Dwight Co, Inc	3.950		08/01/47		101,564
	200,000		Clorox Co	3.500		12/15/24		202,520
	300,000		Clorox Co	3.100		10/01/27		297,829
	500,000		Clorox Co	3.900		05/15/28		509,003
	1,000,000		Clorox Co	1.800		05/15/30		877,915
	300,000		Colgate-Palmolive Co	3.250		03/15/24		304,854
	60,000		Colgate-Palmolive Co	6.450		06/16/28		70,931
	300,000		Colgate-Palmolive Co	4.000		08/15/45		329,610
	550,000		Colgate-Palmolive Co	3.700		08/01/47		581,781
	125,000		Estee Lauder Cos, Inc	2.000		12/01/24		122,910
	450,000		Estee Lauder Cos, Inc	3.150		03/15/27		453,377
	200,000		Estee Lauder Cos, Inc	2.375		12/01/29		190,518
	100,000		Estee Lauder Cos, Inc	2.600		04/15/30		96,187
	1,500,000		Estee Lauder Cos, Inc	1.950		03/15/31		1,360,766
	100,000		Estee Lauder Cos, Inc	6.000		05/15/37		125,882
	300,000		Estee Lauder Cos, Inc	4.375		06/15/45		326,547
	375,000		Estee Lauder Cos, Inc	4.150		03/15/47		403,756
	700,000		Estee Lauder Cos, Inc	3.125		12/01/49		654,694
	950,000		Kimberly-Clark Corp	3.050		08/15/25		958,021
	200,000		Kimberly-Clark Corp	1.050		09/15/27		181,316
	412,000		Kimberly-Clark Corp	3.950		11/01/28		431,931
	1,500,000		Kimberly-Clark Corp	3.200		04/25/29		1,517,494
	1,500,000		Kimberly-Clark Corp	2.000		11/02/31		1,369,416
	200,000		Kimberly-Clark Corp	6.625		08/01/37		269,873
	725,000		Kimberly-Clark Corp	3.200		07/30/46		665,042

49

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	200,000		Kimberly-Clark Corp	3.900	%	05/04/47	$	207,904
	300,000		Kimberly-Clark Corp	2.875		02/07/50		270,353
	600,000		Procter & Gamble Co	3.100		08/15/23		606,391
	2,000,000		Procter & Gamble Co	0.550		10/29/25		1,854,746
	750,000		Procter & Gamble Co	2.700		02/02/26		751,265
	2,000,000		Procter & Gamble Co	1.000		04/23/26		1,869,562
	1,750,000		Procter & Gamble Co	2.450		11/03/26		1,725,472
	750,000		Procter & Gamble Co	2.850		08/11/27		750,617
	3,000,000		Procter & Gamble Co	3.000		03/25/30		3,016,386
	1,150,000		Procter & Gamble Co	1.200		10/29/30		1,001,550
	1,500,000		Procter & Gamble Co	1.950		04/23/31		1,388,613
	1,000,000	e	Procter & Gamble Co	2.300		02/01/32		952,958
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS					27,528,194
INSURANCE - 0.9%
	700,000		ACE INA Holdings, Inc	3.150		03/15/25		707,427
	2,325,000		ACE INA Holdings, Inc	3.350		05/03/26		2,356,781
	150,000		ACE INA Holdings, Inc	4.150		03/13/43		155,665
	1,600,000		ACE INA Holdings, Inc	4.350		11/03/45		1,738,364
	500,000		Aegon NV	5.500		04/11/48		525,275
	1,125,000		Aetna, Inc	2.800		06/15/23		1,129,169
	325,000		Aetna, Inc	3.500		11/15/24		328,503
	440,000		Aetna, Inc	6.625		06/15/36		554,129
	350,000		Aetna, Inc	4.500		05/15/42		364,325
	500,000		Aetna, Inc	4.125		11/15/42		492,877
	1,050,000		Aetna, Inc	3.875		08/15/47		1,023,021
	525,000		Aflac, Inc	3.625		11/15/24		537,437
	2,000,000		Aflac, Inc	1.125		03/15/26		1,860,482
	200,000		Aflac, Inc	2.875		10/15/26		199,775
	375,000		Aflac, Inc	3.600		04/01/30		387,041
	200,000		Aflac, Inc	4.000		10/15/46		202,120
	500,000		Aflac, Inc	4.750		01/15/49		571,009
	1,000,000		Alleghany Corp	3.625		05/15/30		1,005,947
	200,000		Alleghany Corp	4.900		09/15/44		219,194
	1,000,000		Alleghany Corp	3.250		08/15/51		867,396
	300,000		Allied World Assurance Co Holdings Ltd	4.350		10/29/25		305,927
	1,000,000		Allstate Corp	0.750		12/15/25		920,362
	275,000		Allstate Corp	3.280		12/15/26		276,130
	1,000,000		Allstate Corp	1.450		12/15/30		864,473
	600,000		Allstate Corp	4.500		06/15/43		637,095
	975,000		Allstate Corp	4.200		12/15/46		1,037,098
	250,000		Allstate Corp	3.850		08/10/49		253,717
	200,000		Allstate Corp	5.750		08/15/53		199,000
	300,000		American Financial Group, Inc	3.500		08/15/26		302,734
	325,000		American Financial Group, Inc	5.250		04/02/30		350,543
	400,000		American Financial Group, Inc	4.500		06/15/47		413,230
	600,000		American International Group, Inc	4.125		02/15/24		613,509
	3,000,000		American International Group, Inc	2.500		06/30/25		2,933,139
	750,000		American International Group, Inc	3.750		07/10/25		762,092
	825,000		American International Group, Inc	4.200		04/01/28		856,245
	2,600,000		American International Group, Inc	4.250		03/15/29		2,719,242
	1,000,000		American International Group, Inc	3.400		06/30/30		997,283
	1,675,000		American International Group, Inc	3.875		01/15/35		1,706,786
	300,000		American International Group, Inc	4.700		07/10/35		319,982
	725,000		American International Group, Inc	4.500		07/16/44		782,336
	300,000		American International Group, Inc	4.800		07/10/45		338,033

50

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	1,000,000		American International Group, Inc	4.750	%	04/01/48	$	1,145,761
	300,000		American International Group, Inc	5.750		04/01/48		301,710
	1,000,000		American International Group, Inc	4.375		06/30/50		1,096,019
	200,000		American International Group, Inc	4.375		01/15/55		213,670
	1,000,000		Aon Corp	2.850		05/28/27		978,267
	200,000		Aon Corp	4.500		12/15/28		209,516
	450,000		Aon Corp	3.750		05/02/29		460,119
	450,000		Aon Corp	2.800		05/15/30		428,650
	1,000,000		Aon Corp	2.050		08/23/31		882,543
	1,000,000		Aon Corp	2.600		12/02/31		920,958
	200,000		Aon Corp	6.250		09/30/40		254,007
	1,000,000		Aon Corp	2.900		08/23/51		828,843
	500,000		Aon Corp	3.900		02/28/52		493,456
	200,000		Aon plc	4.000		11/27/23		203,757
	300,000		Aon plc	3.500		06/14/24		302,540
	2,450,000		Aon plc	3.875		12/15/25		2,501,511
	550,000		Aon plc	4.750		05/15/45		591,008
	1,050,000		Arch Capital Group Ltd	4.011		12/15/26		1,071,605
	200,000		Arch Capital Group Ltd	5.031		12/15/46		220,851
	600,000		Arch Capital Group Ltd	3.635		06/30/50		549,625
	300,000		Arch Capital Group US, Inc	5.144		11/01/43		335,147
	2,000,000		Arthur J Gallagher & Co	2.400		11/09/31		1,777,833
	1,125,000		Arthur J Gallagher & Co	3.500		05/20/51		1,000,040
	2,000,000		Arthur J Gallagher & Co	3.050		03/09/52		1,651,491
	200,000		Aspen Insurance Holdings Ltd	4.650		11/15/23		205,118
	300,000		Assurant, Inc	4.200		09/27/23		305,043
	300,000	e	Assurant, Inc	4.900		03/27/28		312,825
	500,000		Assurant, Inc	3.700		02/22/30		482,992
	1,500,000		Assurant, Inc	2.650		01/15/32		1,309,430
	7,000		Assurant, Inc	6.750		02/15/34		8,211
	137,000		Assured Guaranty US Holdings, Inc	5.000		07/01/24		142,028
	2,000,000		Assured Guaranty US Holdings, Inc	3.150		06/15/31		1,886,468
	300,000		Assured Guaranty US Holdings, Inc	3.600		09/15/51		258,823
	675,000		Athene Holding Ltd	4.125		01/12/28		680,245
	500,000		Athene Holding Ltd	6.150		04/03/30		563,806
	1,000,000		Athene Holding Ltd	3.950		05/25/51		912,416
	1,000,000		Athene Holding Ltd	3.450		05/15/52		844,367
	770,000		AXA S.A.	8.600		12/15/30		1,016,107
	300,000		AXIS Specialty Finance LLC	3.900		07/15/29		297,270
	250,000		AXIS Specialty Finance LLC	4.900		01/15/40		243,750
	200,000		AXIS Specialty Finance plc	4.000		12/06/27		201,873
	1,500,000		Berkshire Hathaway Finance Corp	2.300		03/15/27		1,469,085
	100,000		Berkshire Hathaway Finance Corp	1.850		03/12/30		91,226
	1,500,000		Berkshire Hathaway Finance Corp	1.450		10/15/30		1,310,839
	1,000,000		Berkshire Hathaway Finance Corp	2.875		03/15/32		969,602
	300,000		Berkshire Hathaway Finance Corp	4.400		05/15/42		323,110
	2,175,000		Berkshire Hathaway Finance Corp	4.200		08/15/48		2,332,722
	1,725,000		Berkshire Hathaway Finance Corp	4.250		01/15/49		1,889,058
	3,000,000		Berkshire Hathaway Finance Corp	2.500		01/15/51		2,420,910
	500,000		Berkshire Hathaway Finance Corp	3.850		03/15/52		511,284
	1,000,000		Boardwalk Pipelines LP	3.600		09/01/32		953,378
	1,000,000		Brighthouse Financial, Inc	5.625		05/15/30		1,096,211
	236,000		Brighthouse Financial, Inc	4.700		06/22/47		229,242
	500,000		Brown & Brown, Inc	4.500		03/15/29		516,338
	1,000,000		Brown & Brown, Inc	2.375		03/15/31		878,524
	1,000,000		Brown & Brown, Inc	4.200		03/17/32		1,016,060

51

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	500,000		Brown & Brown, Inc	4.950	%	03/17/52	$	533,834
	450,000		Chubb Corp	6.000		05/11/37		559,049
	1,325,000		Chubb INA Holdings, Inc	1.375		09/15/30		1,154,367
	425,000		Chubb INA Holdings, Inc	2.850		12/15/51		369,194
	1,500,000		Chubb INA Holdings, Inc	3.050		12/15/61		1,292,240
	200,000		Cincinnati Financial Corp	6.920		05/15/28		238,023
	690,000		CNA Financial Corp	3.950		05/15/24		700,717
	200,000		CNA Financial Corp	4.500		03/01/26		208,362
	225,000		CNA Financial Corp	3.450		08/15/27		225,187
	100,000		CNA Financial Corp	3.900		05/01/29		102,096
	1,150,000		CNA Financial Corp	2.050		08/15/30		1,020,622
	500,000		CNO Financial Group, Inc	5.250		05/30/29		525,998
	1,000,000	g	Corebridge Financial, Inc	3.500		04/04/25		999,210
	1,000,000	g	Corebridge Financial, Inc	3.650		04/05/27		998,600
	1,000,000	g	Corebridge Financial, Inc	3.850		04/05/29		999,090
	2,000,000	g	Corebridge Financial, Inc	3.900		04/05/32		1,997,040
	1,000,000	g	Corebridge Financial, Inc	4.350		04/05/42		999,730
	500,000	g	Corebridge Financial, Inc	4.400		04/05/52		499,915
	500,000		Enstar Group Ltd	4.950		06/01/29		519,031
	1,000,000		Enstar Group Ltd	3.100		09/01/31		894,391
	300,000		Everest Reinsurance Holdings, Inc	4.868		06/01/44		320,405
	250,000		Everest Reinsurance Holdings, Inc	3.500		10/15/50		222,911
	1,200,000		Everest Reinsurance Holdings, Inc	3.125		10/15/52		992,094
	400,000		Fairfax Financial Holdings Ltd	4.850		04/17/28		414,038
	500,000		Fairfax Financial Holdings Ltd	4.625		04/29/30		513,679
	1,000,000		Fairfax Financial Holdings Ltd	3.375		03/03/31		932,656
	300,000		Fidelity National Financial, Inc	4.500		08/15/28		306,782
	1,000,000		Fidelity National Financial, Inc	3.400		06/15/30		962,998
	500,000		Fidelity National Financial, Inc	2.450		03/15/31		442,838
	400,000		Fidelity National Financial, Inc	3.200		09/17/51		314,972
	750,000		First American Financial Corp	4.000		05/15/30		751,155
	400,000		First American Financial Corp	2.400		08/15/31		350,196
	350,000		Globe Life, Inc	2.150		08/15/30		315,822
	200,000		Hanover Insurance Group, Inc	4.500		04/15/26		208,048
	1,000,000		Hanover Insurance Group, Inc	2.500		09/01/30		908,941
	750,000		Hartford Financial Services Group, Inc	2.800		08/19/29		713,372
	400,000		Hartford Financial Services Group, Inc	4.300		04/15/43		401,962
	450,000		Hartford Financial Services Group, Inc	4.400		03/15/48		467,073
	450,000		Hartford Financial Services Group, Inc	3.600		08/19/49		421,963
	475,000		Hartford Financial Services Group, Inc	2.900		09/15/51		390,584
	500,000	g	HCA, Inc	3.125		03/15/27		488,546
	1,000,000	g	HCA, Inc	3.375		03/15/29		973,410
	500,000	g	HCA, Inc	3.625		03/15/32		489,977
	125,000	g	HCA, Inc	4.375		03/15/42		123,247
	200,000	g	HCA, Inc	4.625		03/15/52		201,554
	500,000		Humana, Inc	3.700		03/23/29		501,651
	1,500,000	g	Jackson Financial, Inc	3.125		11/23/31		1,365,647
	1,000,000	g	Jackson Financial, Inc	4.000		11/23/51		845,259
	200,000		Kemper Corp	4.350		02/15/25		204,188
	500,000		Kemper Corp	2.400		09/30/30		435,793
	1,000,000		Kemper Corp	3.800		02/23/32		963,442
	400,000		Leucadia National Corp	5.500		10/18/23		409,039
	625,000		Lincoln National Corp	4.000		09/01/23		632,811
	175,000		Lincoln National Corp	3.350		03/09/25		174,853
	600,000		Lincoln National Corp	3.625		12/12/26		609,388
	1,175,000		Lincoln National Corp	3.800		03/01/28		1,188,232

52

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	650,000		Lincoln National Corp	3.050	%	01/15/30	$	623,925
	500,000	e	Lincoln National Corp	3.400		01/15/31		489,534
	1,000,000		Lincoln National Corp	3.400		03/01/32		964,568
	150,000		Lincoln National Corp	7.000		06/15/40		197,473
	250,000		Lincoln National Corp	4.350		03/01/48		256,863
	500,000		Lincoln National Corp	4.375		06/15/50		514,704
	200,000		Loews Corp	2.625		05/15/23		200,207
	800,000		Loews Corp	3.750		04/01/26		820,293
	400,000		Loews Corp	3.200		05/15/30		391,130
	200,000		Loews Corp	4.125		05/15/43		202,786
	700,000		Manulife Financial Corp	4.150		03/04/26		715,779
	1,000,000		Manulife Financial Corp	2.484		05/19/27		961,911
	1,300,000		Manulife Financial Corp	4.061		02/24/32		1,297,842
	1,000,000		Manulife Financial Corp	3.703		03/16/32		1,009,047
	200,000		Manulife Financial Corp	5.375		03/04/46		242,838
	600,000		Markel Corp	3.500		11/01/27		599,772
	200,000		Markel Corp	3.350		09/17/29		197,922
	150,000		Markel Corp	5.000		04/05/46		167,760
	100,000		Markel Corp	4.300		11/01/47		101,830
	750,000		Markel Corp	5.000		05/20/49		842,821
	200,000		Markel Corp	4.150		09/17/50		200,282
	1,500,000		Markel Corp	3.450		05/07/52		1,330,687
	725,000		Marsh & McLennan Cos, Inc	3.875		03/15/24		740,187
	2,300,000		Marsh & McLennan Cos, Inc	3.500		03/10/25		2,316,475
	1,700,000		Marsh & McLennan Cos, Inc	4.375		03/15/29		1,796,463
	450,000		Marsh & McLennan Cos, Inc	2.250		11/15/30		410,775
	600,000		Marsh & McLennan Cos, Inc	2.375		12/15/31		549,366
	250,000		Marsh & McLennan Cos, Inc	4.750		03/15/39		274,505
	100,000		Marsh & McLennan Cos, Inc	4.350		01/30/47		105,554
	300,000		Marsh & McLennan Cos, Inc	4.200		03/01/48		310,146
	1,200,000		Marsh & McLennan Cos, Inc	4.900		03/15/49		1,388,477
	1,000,000		Marsh & McLennan Cos, Inc	2.900		12/15/51		831,000
	200,000		Mercury General Corp	4.400		03/15/27		205,196
	525,000		MetLife, Inc	4.368		09/15/23		540,227
	700,000		MetLife, Inc	3.600		04/10/24		712,811
	700,000		MetLife, Inc	3.600		11/13/25		714,100
	675,000		MetLife, Inc	6.375		06/15/34		841,738
	1,530,000		MetLife, Inc	5.700		06/15/35		1,837,251
	130,000		MetLife, Inc	5.875		02/06/41		160,881
	450,000		MetLife, Inc	4.125		08/13/42		467,985
	750,000		MetLife, Inc	4.875		11/13/43		847,800
	500,000		MetLife, Inc	4.721		12/15/44		548,059
	800,000		MetLife, Inc	4.050		03/01/45		817,476
	1,650,000		MetLife, Inc	4.600		05/13/46		1,842,586
	20,000		Nationwide Financial Services	6.750		05/15/37		22,000
	200,000		Old Republic International Corp	4.875		10/01/24		206,497
	100,000		Old Republic International Corp	3.875		08/26/26		100,821
	1,500,000		Old Republic International Corp	3.850		06/11/51		1,391,960
	500,000		PartnerRe Finance B LLC	3.700		07/02/29		500,400
	500,000		PartnerRe Finance B LLC	4.500		10/01/50		482,500
	1,500,000		Primerica, Inc	2.800		11/19/31		1,383,797
	150,000		Principal Financial Group, Inc	3.125		05/15/23		150,355
	200,000		Principal Financial Group, Inc	3.400		05/15/25		200,123
	850,000		Principal Financial Group, Inc	3.100		11/15/26		836,269
	100,000		Principal Financial Group, Inc	3.700		05/15/29		102,284
	1,000,000		Principal Financial Group, Inc	2.125		06/15/30		904,519

53

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	100,000		Principal Financial Group, Inc	4.625	%	09/15/42	$	106,092
	200,000		Principal Financial Group, Inc	4.350		05/15/43		205,208
	300,000		Principal Financial Group, Inc	4.300		11/15/46		317,819
	650,000		Progressive Corp	2.450		01/15/27		634,256
	750,000		Progressive Corp	2.500		03/15/27		734,113
	250,000		Progressive Corp	4.000		03/01/29		260,700
	100,000		Progressive Corp	3.200		03/26/30		99,110
	125,000		Progressive Corp	3.000		03/15/32		121,625
	120,000		Progressive Corp	6.250		12/01/32		148,452
	300,000		Progressive Corp	4.350		04/25/44		318,712
	300,000		Progressive Corp	3.700		01/26/45		292,544
	950,000		Progressive Corp	4.125		04/15/47		1,000,321
	750,000		Progressive Corp	4.200		03/15/48		799,742
	100,000		Progressive Corp	3.950		03/26/50		103,562
	500,000		Progressive Corp	3.700		03/15/52		502,817
	200,000		Prudential Financial, Inc	1.500		03/10/26		188,304
	195,000		Prudential Financial, Inc	3.878		03/27/28		200,853
	500,000	e	Prudential Financial, Inc	2.100		03/10/30		461,158
	450,000		Prudential Financial, Inc	5.700		12/14/36		535,898
	500,000		Prudential Financial, Inc	3.000		03/10/40		450,462
	600,000		Prudential Financial, Inc	5.200		03/15/44		598,518
	1,700,000		Prudential Financial, Inc	4.600		05/15/44		1,816,419
	200,000		Prudential Financial, Inc	5.375		05/15/45		200,124
	2,300,000	e	Prudential Financial, Inc	4.500		09/15/47		2,219,500
	300,000		Prudential Financial, Inc	4.418		03/27/48		322,755
	2,400,000	e	Prudential Financial, Inc	5.700		09/15/48		2,448,432
	799,000		Prudential Financial, Inc	3.935		12/07/49		811,935
	450,000		Prudential Financial, Inc	4.350		02/25/50		488,508
	1,000,000		Prudential Financial, Inc	3.700		03/13/51		976,880
	675,000		Prudential Financial, Inc	5.125		03/01/52		682,358
	200,000		Prudential plc	3.125		04/14/30		193,788
	1,000,000		Prudential plc	3.625		03/24/32		988,161
	250,000		Reinsurance Group of America, Inc	4.700		09/15/23		255,856
	750,000		Reinsurance Group of America, Inc	3.900		05/15/29		757,343
	350,000		Reinsurance Group of America, Inc	3.150		06/15/30		337,121
	200,000		RenaissanceRe Finance, Inc	3.700		04/01/25		202,556
	200,000		RenaissanceRe Finance, Inc	3.450		07/01/27		200,594
	300,000		RenaissanceRe Holdings Ltd	3.600		04/15/29		297,768
	1,000,000		Stewart Information Services Corp	3.600		11/15/31		910,115
	350,000		Torchmark Corp	4.550		09/15/28		363,816
	20,000		Transatlantic Holdings, Inc	8.000		11/30/39		28,821
	600,000		Travelers Cos, Inc	5.350		11/01/40		715,553
	200,000		Travelers Cos, Inc	4.600		08/01/43		218,468
	250,000		Travelers Cos, Inc	4.300		08/25/45		266,974
	1,100,000		Travelers Cos, Inc	4.000		05/30/47		1,132,127
	500,000		Travelers Cos, Inc	4.050		03/07/48		517,077
	900,000		Travelers Cos, Inc	4.100		03/04/49		935,349
	2,000,000		Travelers Cos, Inc	3.050		06/08/51		1,778,135
	100,000		Travelers Property Casualty Corp	6.375		03/15/33		126,719
	200,000		Unum Group	4.000		03/15/24		202,832
	500,000		Unum Group	4.000		06/15/29		511,005
	300,000		Unum Group	5.750		08/15/42		317,649
	500,000		Unum Group	4.500		12/15/49		460,599
	1,000,000		Unum Group	4.125		06/15/51		873,062

54

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	1,000,000		W R Berkley Corp	3.550	%	03/30/52	$	894,414
	400,000		W R Berkley Corp	3.150		09/30/61		309,121
	425,000		Willis North America, Inc	3.600		05/15/24		427,447
	500,000		Willis North America, Inc	4.500		09/15/28		513,768
	900,000		Willis North America, Inc	2.950		09/15/29		845,167
	300,000		Willis North America, Inc	5.050		09/15/48		322,675
	500,000		Willis North America, Inc	3.875		09/15/49		454,679
	200,000		WR Berkley Corp	4.750		08/01/44		214,177
	650,000		WR Berkley Corp	4.000		05/12/50		630,597
	455,000		XLIT Ltd	4.450		03/31/25		467,626
	200,000	e	XLIT Ltd	5.250		12/15/43		239,872
	300,000		XLIT Ltd	5.500		03/31/45		354,399
			TOTAL INSURANCE					184,891,567
MATERIALS - 0.7%
	300,000		Air Products & Chemicals, Inc	3.350		07/31/24		303,685
	175,000		Air Products & Chemicals, Inc	1.500		10/15/25		166,742
	500,000		Air Products & Chemicals, Inc	1.850		05/15/27		472,195
	2,125,000		Air Products & Chemicals, Inc	2.050		05/15/30		1,958,762
	125,000		Air Products & Chemicals, Inc	2.700		05/15/40		110,513
	1,250,000		Air Products & Chemicals, Inc	2.800		05/15/50		1,096,761
	200,000		Albemarle Corp	4.150		12/01/24		204,575
	500,000		Amcor Finance USA, Inc	3.625		04/28/26		507,290
	400,000		Amcor Finance USA, Inc	4.500		05/15/28		420,099
	2,000,000		Amcor Flexibles North America, Inc	2.690		05/25/31		1,836,123
	375,000		AngloGold Ashanti Holdings plc	3.750		10/01/30		350,812
	1,000,000		AptarGroup, Inc	3.600		03/15/32		968,864
	300,000		Avery Dennison Corp	4.875		12/06/28		317,922
	500,000		Avery Dennison Corp	2.650		04/30/30		464,202
	1,000,000		Avery Dennison Corp	2.250		02/15/32		877,882
	100,000		Barrick Australian Finance Pty Ltd	5.950		10/15/39		123,196
	2,250,000		Barrick Gold Corp	5.250		04/01/42		2,605,368
	500,000		Barrick North America Finance LLC	5.750		05/01/43		609,297
	100,000		Bemis Co, Inc	3.100		09/15/26		98,498
	200,000		Bemis Co, Inc	2.630		06/19/30		184,311
	625,000		Berry Global, Inc	0.950		02/15/24		598,341
	1,375,000		Berry Global, Inc	1.570		01/15/26		1,280,920
	625,000		Berry Global, Inc	1.650		01/15/27		569,304
	825,000		BHP Billiton Finance USA Ltd	4.125		02/24/42		872,381
	1,925,000		BHP Billiton Finance USA Ltd	5.000		09/30/43		2,282,896
	500,000		Cabot Corp	4.000		07/01/29		502,206
	400,000		Celulosa Arauco y Constitucion S.A.	4.500		08/01/24		411,004
	375,000		Celulosa Arauco y Constitucion S.A.	3.875		11/02/27		379,691
	200,000		Celulosa Arauco y Constitucion S.A.	5.500		11/02/47		202,502
	14,000		Dow Chemical Co	4.550		11/30/25		14,594
	750,000		Dow Chemical Co	3.625		05/15/26		758,755
	300,000		Dow Chemical Co	4.800		11/30/28		321,402
	81,000		Dow Chemical Co	7.375		11/01/29		101,329
	1,000,000	e	Dow Chemical Co	2.100		11/15/30		899,672
	982,000		Dow Chemical Co	4.250		10/01/34		1,010,760
	131,000		Dow Chemical Co	9.400		05/15/39		208,678
	275,000		Dow Chemical Co	5.250		11/15/41		313,760
	1,200,000		Dow Chemical Co	4.375		11/15/42		1,247,578
	400,000		Dow Chemical Co	4.625		10/01/44		424,173
	825,000		Dow Chemical Co	5.550		11/30/48		1,007,094
	750,000		Dow Chemical Co	4.800		05/15/49		827,785

55

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	1,000,000		Dow Chemical Co	3.600	%	11/15/50	$	930,399
	4,050,000		DowDuPont, Inc	4.205		11/15/23		4,144,296
	1,600,000		DowDuPont, Inc	4.493		11/15/25		1,664,077
	2,300,000		DowDuPont, Inc	4.725		11/15/28		2,464,860
	150,000		DowDuPont, Inc	5.319		11/15/38		172,282
	2,325,000		DowDuPont, Inc	5.419		11/15/48		2,805,064
	1,500,000		Eagle Materials, Inc	2.500		07/01/31		1,332,334
	727,000		Eastman Chemical Co	3.800		03/15/25		735,255
	700,000		Eastman Chemical Co	4.500		12/01/28		719,324
	150,000		Eastman Chemical Co	4.800		09/01/42		157,394
	525,000		Eastman Chemical Co	4.650		10/15/44		538,909
	750,000		Ecolab, Inc	2.700		11/01/26		741,372
	1,000,000		Ecolab, Inc	1.650		02/01/27		938,935
	300,000		Ecolab, Inc	3.250		12/01/27		305,022
	1,000,000		Ecolab, Inc	1.300		01/30/31		862,594
	1,000,000	e	Ecolab, Inc	2.125		02/01/32		914,511
	150,000	e	Ecolab, Inc	2.125		08/15/50		114,650
	1,000,000		Ecolab, Inc	2.700		12/15/51		856,529
	1,370,000		Ecolab, Inc	2.750		08/18/55		1,132,875
	350,000		EI du Pont de Nemours and Co	1.700		07/15/25		335,336
	175,000		EI du Pont de Nemours and Co	2.300		07/15/30		162,859
	700,000		Fibria Overseas Finance Ltd	5.500		01/17/27		741,286
	200,000		FMC Corp	4.100		02/01/24		202,952
	500,000		FMC Corp	3.200		10/01/26		494,825
	500,000		FMC Corp	3.450		10/01/29		491,137
	500,000		FMC Corp	4.500		10/01/49		510,934
	300,000		Georgia-Pacific LLC	8.000		01/15/24		326,262
	750,000		Georgia-Pacific LLC	7.750		11/15/29		962,143
	600,000		Huntsman International LLC	4.500		05/01/29		619,395
	2,000,000		Huntsman International LLC	2.950		06/15/31		1,849,575
	300,000		International Flavors & Fragrances, Inc	3.200		05/01/23		300,857
	100,000		International Flavors & Fragrances, Inc	4.450		09/26/28		103,709
	200,000		International Flavors & Fragrances, Inc	4.375		06/01/47		199,869
	675,000		International Flavors & Fragrances, Inc	5.000		09/26/48		740,343
	450,000		International Paper Co	6.000		11/15/41		535,780
	390,000		International Paper Co	4.800		06/15/44		415,834
	2,425,000		International Paper Co	4.350		08/15/48		2,539,091
	1,000,000		Kinross Gold Corp	4.500		07/15/27		1,024,483
	150,000		Lubrizol Corp	6.500		10/01/34		194,916
	170,000		LYB International Finance BV	4.000		07/15/23		172,678
	575,000		LYB International Finance BV	5.250		07/15/43		636,477
	550,000		LYB International Finance BV	4.875		03/15/44		585,370
	491,000		LYB International Finance III LLC	1.250		10/01/25		454,464
	150,000		LYB International Finance III LLC	2.250		10/01/30		135,199
	150,000		LYB International Finance III LLC	3.375		10/01/40		134,272
	1,000,000		LYB International Finance III LLC	4.200		10/15/49		990,003
	750,000		LYB International Finance III LLC	4.200		05/01/50		740,739
	1,000,000		LYB International Finance III LLC	3.625		04/01/51		904,785
	500,000		LYB International Finance III LLC	3.800		10/01/60		435,937
	741,000		LyondellBasell Industries NV	5.750		04/15/24		773,455
	475,000		LyondellBasell Industries NV	4.625		02/26/55		483,307
	200,000		Martin Marietta Materials, Inc	4.250		07/02/24		204,632
	200,000		Martin Marietta Materials, Inc	3.450		06/01/27		200,620
	325,000		Martin Marietta Materials, Inc	3.500		12/15/27		326,447
	250,000		Martin Marietta Materials, Inc	2.500		03/15/30		228,255
	1,000,000		Martin Marietta Materials, Inc	2.400		07/15/31		897,643

56

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	450,000	Martin Marietta Materials, Inc	4.250	%	12/15/47	$	447,237
	1,000,000	Martin Marietta Materials, Inc	3.200		07/15/51		854,462
	1,000,000	Mosaic Co	4.250		11/15/23		1,021,176
	800,000	Mosaic Co	4.050		11/15/27		819,462
	300,000	Mosaic Co	5.450		11/15/33		345,086
	100,000	Mosaic Co	4.875		11/15/41		105,523
	600,000	Mosaic Co	5.625		11/15/43		720,386
	1,000,000	NewMarket Corp	2.700		03/18/31		917,274
	250,000	Newmont Corp	2.250		10/01/30		228,483
	1,350,000	Newmont Corp	2.600		07/15/32		1,241,904
	1,300,000	Newmont Goldcorp Corp	2.800		10/01/29		1,243,510
	298,000	Newmont Goldcorp Corp	5.875		04/01/35		350,092
	235,000	Newmont Goldcorp Corp	6.250		10/01/39		296,988
	975,000	Newmont Goldcorp Corp	4.875		03/15/42		1,096,475
	300,000	Newmont Goldcorp Corp	5.450		06/09/44		356,091
	275,000	Nucor Corp	2.000		06/01/25		266,196
	425,000	Nucor Corp	3.950		05/01/28		434,675
	3,150,000	Nucor Corp	2.700		06/01/30		2,995,764
	500,000	Nucor Corp	3.125		04/01/32		483,310
	1,000,000	Nucor Corp	2.979		12/15/55		826,218
	150,000	Nutrien Ltd	3.150		10/01/22		150,661
	500,000	Nutrien Ltd	1.900		05/13/23		496,238
	200,000	Nutrien Ltd	3.000		04/01/25		199,156
	700,000	Nutrien Ltd	4.000		12/15/26		721,144
	550,000	Nutrien Ltd	4.200		04/01/29		574,726
	500,000	Nutrien Ltd	2.950		05/13/30		482,273
	200,000	Nutrien Ltd	4.125		03/15/35		202,289
	200,000	Nutrien Ltd	5.625		12/01/40		237,764
	200,000	Nutrien Ltd	4.900		06/01/43		221,206
	691,000	Nutrien Ltd	5.250		01/15/45		792,590
	1,050,000	Nutrien Ltd	5.000		04/01/49		1,218,776
	300,000	Nutrien Ltd	3.950		05/13/50		301,003
	500,000	Owens Corning	4.200		12/01/24		511,302
	300,000	Owens Corning	3.400		08/15/26		300,006
	500,000	Owens Corning	3.950		08/15/29		508,878
	300,000	Owens Corning	3.875		06/01/30		302,944
	525,000	Owens Corning	4.300		07/15/47		514,457
	350,000	Owens Corning	4.400		01/30/48		348,253
	100,000	Packaging Corp of America	3.650		09/15/24		101,284
	550,000	Packaging Corp of America	3.400		12/15/27		546,924
	100,000	Packaging Corp of America	3.000		12/15/29		96,736
	500,000	Packaging Corp of America	4.050		12/15/49		509,836
	1,500,000	Packaging Corp of America	3.050		10/01/51		1,284,054
	300,000	PPG Industries, Inc	3.200		03/15/23		302,696
	500,000	PPG Industries, Inc	2.400		08/15/24		492,830
	250,000	PPG Industries, Inc	1.200		03/15/26		231,456
	425,000	PPG Industries, Inc	3.750		03/15/28		434,708
	500,000	PPG Industries, Inc	2.550		06/15/30		468,879
	300,000	Praxair, Inc	2.650		02/05/25		298,388
	1,000,000	Praxair, Inc	3.200		01/30/26		1,005,472
	725,000	Praxair, Inc	1.100		08/10/30		622,061
	625,000	Praxair, Inc	3.550		11/07/42		632,480
	225,000	Praxair, Inc	2.000		08/10/50		169,770
	300,000	Reliance Steel & Aluminum Co	4.500		04/15/23		305,971
	500,000	Reliance Steel & Aluminum Co	1.300		08/15/25		467,327
	500,000	Reliance Steel & Aluminum Co	2.150		08/15/30		448,198

57

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	414,000	Rio Tinto Alcan, Inc	6.125	%	12/15/33	$	522,558
	350,000	Rio Tinto Finance USA Ltd	5.200		11/02/40		418,781
	1,000,000	Rio Tinto Finance USA Ltd	2.750		11/02/51		863,556
	1,400,000	Rio Tinto Finance USA plc	4.125		08/21/42		1,503,378
	100,000	RPM International, Inc	3.750		03/15/27		101,262
	300,000	RPM International, Inc	4.550		03/01/29		314,057
	1,000,000	RPM International, Inc	2.950		01/15/32		916,661
	100,000	RPM International, Inc	5.250		06/01/45		113,424
	200,000	RPM International, Inc	4.250		01/15/48		202,286
	200,000	Sherwin-Williams Co	3.450		08/01/25		201,708
	200,000	Sherwin-Williams Co	3.950		01/15/26		206,068
	925,000	Sherwin-Williams Co	3.450		06/01/27		927,054
	500,000	Sherwin-Williams Co	2.950		08/15/29		482,132
	500,000	Sherwin-Williams Co	2.300		05/15/30		457,187
	950,000	Sherwin-Williams Co	2.200		03/15/32		842,523
	200,000	Sherwin-Williams Co	4.000		12/15/42		192,494
	900,000	Sherwin-Williams Co	4.500		06/01/47		953,169
	900,000	Sherwin-Williams Co	3.800		08/15/49		865,222
	500,000	Sherwin-Williams Co	3.300		05/15/50		444,371
	1,000,000	Sherwin-Williams Co	2.900		03/15/52		819,570
	650,000	Sonoco Products Co	2.250		02/01/27		615,438
	750,000	Sonoco Products Co	3.125		05/01/30		721,044
	1,000,000	Sonoco Products Co	2.850		02/01/32		934,636
	300,000	Southern Copper Corp	3.875		04/23/25		304,533
	100,000	Southern Copper Corp	7.500		07/27/35		128,764
	1,180,000	Southern Copper Corp	6.750		04/16/40		1,506,270
	1,500,000	Southern Copper Corp	5.875		04/23/45		1,833,750
	250,000	Steel Dynamics, Inc	2.800		12/15/24		247,299
	100,000	Steel Dynamics, Inc	2.400		06/15/25		96,667
	1,000,000	Steel Dynamics, Inc	1.650		10/15/27		907,998
	750,000	Steel Dynamics, Inc	3.450		04/15/30		738,852
	100,000	Steel Dynamics, Inc	3.250		01/15/31		96,948
	500,000	Steel Dynamics, Inc	3.250		10/15/50		427,267
	700,000	Suzano Austria GmbH	2.500		09/15/28		631,645
	1,900,000	Suzano Austria GmbH	6.000		01/15/29		2,050,993
	1,000,000	Suzano Austria GmbH	3.750		01/15/31		941,500
	1,500,000	Suzano Austria GmbH	3.125		01/15/32		1,328,070
	1,675,000	Teck Resources Ltd	6.250		07/15/41		2,001,229
	750,000	Vulcan Materials Co	4.500		04/01/25		774,378
	100,000	Vulcan Materials Co	3.900		04/01/27		102,522
	275,000	Vulcan Materials Co	3.500		06/01/30		272,748
	475,000	Vulcan Materials Co	4.500		06/15/47		497,320
	200,000	Vulcan Materials Co	4.700		03/01/48		216,094
	200,000	Westlake Chemical Corp	0.875		08/15/24		191,786
	500,000	Westlake Chemical Corp	3.600		08/15/26		506,111
	1,000,000	Westlake Chemical Corp	3.375		06/15/30		974,198
	500,000	Westlake Chemical Corp	2.875		08/15/41		418,178
	500,000	Westlake Chemical Corp	5.000		08/15/46		543,579
	200,000	Westlake Chemical Corp	4.375		11/15/47		202,140
	500,000	Westlake Chemical Corp	3.125		08/15/51		410,995
	500,000	Westlake Chemical Corp	3.375		08/15/61		406,700
	250,000	WRKCo, Inc	3.000		09/15/24		247,661
	425,000	WRKCo, Inc	3.750		03/15/25		429,376
	525,000	WRKCo, Inc	4.650		03/15/26		546,350
	300,000	WRKCo, Inc	3.375		09/15/27		297,583
	325,000	WRKCo, Inc	4.000		03/15/28		330,878

58

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	240,000		WRKCo, Inc	3.900	%	06/01/28	$	240,914
	950,000		WRKCo, Inc	4.900		03/15/29		1,023,099
	685,000		WRKCo, Inc	4.200		06/01/32		710,330
	400,000		WRKCo, Inc	3.000		06/15/33		373,579
	750,000		Yamana Gold, Inc	2.630		08/15/31		671,804
			TOTAL MATERIALS					139,300,208
MEDIA & ENTERTAINMENT - 1.3%
	475,000		Activision Blizzard, Inc	3.400		09/15/26		483,462
	300,000		Activision Blizzard, Inc	3.400		06/15/27		303,066
	250,000		Activision Blizzard, Inc	1.350		09/15/30		216,699
	300,000		Activision Blizzard, Inc	4.500		06/15/47		339,984
	1,100,000		Activision Blizzard, Inc	2.500		09/15/50		903,699
	1,000,000		AdventHealth Obligated Group	2.795		11/15/51		841,452
	550,000		Agree LP	2.000		06/15/28		498,229
	150,000		Agree LP	2.900		10/01/30		140,018
	1,000,000		Agree LP	2.600		06/15/33		880,719
	875,000		Alphabet, Inc	3.375		02/25/24		893,289
	675,000		Alphabet, Inc	0.450		08/15/25		629,747
	1,250,000		Alphabet, Inc	1.998		08/15/26		1,218,282
	1,000,000		Alphabet, Inc	0.800		08/15/27		902,899
	850,000		Alphabet, Inc	1.100		08/15/30		742,819
	1,000,000		Alphabet, Inc	1.900		08/15/40		815,524
	2,800,000		Alphabet, Inc	2.050		08/15/50		2,208,761
	1,100,000		Alphabet, Inc	2.250		08/15/60		855,009
	1,000,000		American Assets Trust LP	3.375		02/01/31		940,636
	2,000,000		AstraZeneca Finance LLC	1.200		05/28/26		1,854,246
	2,000,000		AstraZeneca Finance LLC	1.750		05/28/28		1,842,850
	225,000		AstraZeneca Finance LLC	2.250		05/28/31		209,507
	700,000		Baidu, Inc	3.875		09/29/23		705,964
	525,000		Baidu, Inc	4.375		05/14/24		534,151
	200,000	e	Baidu, Inc	3.075		04/07/25		196,595
	1,000,000		Baidu, Inc	1.720		04/09/26		919,749
	535,000		Baidu, Inc	1.625		02/23/27		479,050
	300,000		Baidu, Inc	3.625		07/06/27		293,347
	500,000		Baidu, Inc	4.375		03/29/28		504,471
	500,000		Baidu, Inc	4.875		11/14/28		521,381
	300,000		Baidu, Inc	3.425		04/07/30		287,454
	750,000		Baidu, Inc	2.375		10/09/30		659,877
	1,000,000	e	Baidu, Inc	2.375		08/23/31		871,243
	1,000,000		Bain Capital Specialty Finance, Inc	2.550		10/13/26		901,747
	1,000,000	g	Blackstone Private Credit Fund	4.700		03/24/25		1,014,596
	1,800,000	g	Blackstone Private Credit Fund	2.625		12/15/26		1,619,931
	1,000,000	g	Blackstone Private Credit Fund	3.250		03/15/27		916,467
	1,000,000	g	Blackstone Private Credit Fund	4.000		01/15/29		925,817
	750,000		Blackstone Secured Lending Fund	3.650		07/14/23		754,145
	750,000		Blackstone Secured Lending Fund	3.625		01/15/26		735,044
	1,400,000		Blackstone Secured Lending Fund	2.750		09/16/26		1,299,989
	1,000,000	g	Blackstone Secured Lending Fund	2.125		02/15/27		887,093
	1,000,000	g	Blackstone Secured Lending Fund	2.850		09/30/28		866,781
	1,000,000		Broadstone Net Lease LLC	2.600		09/15/31		890,455
	1,000,000		Brookfield Finance I UK PLC	2.340		01/30/32		888,918
	1,000,000		Brown University in Providence in the State of Rhode Island and Providence Plant	2.924		09/01/50		915,938
	2,000,000		Cedars-Sinai Health System	2.288		08/15/31		1,819,600
	225,000		Charter Communications Operating LLC	4.500		02/01/24		230,138

59

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	3,650,000		Charter Communications Operating LLC	4.908	%	07/23/25	$	3,785,091
	950,000		Charter Communications Operating LLC	3.750		02/15/28		938,089
	2,750,000		Charter Communications Operating LLC	4.200		03/15/28		2,778,900
	650,000		Charter Communications Operating LLC	2.250		01/15/29		584,914
	2,000,000		Charter Communications Operating LLC	2.800		04/01/31		1,802,588
	1,500,000		Charter Communications Operating LLC	2.300		02/01/32		1,282,149
	1,000,000		Charter Communications Operating LLC	4.400		04/01/33		997,042
	750,000		Charter Communications Operating LLC	6.384		10/23/35		847,298
	1,500,000		Charter Communications Operating LLC	5.375		04/01/38		1,540,747
	1,500,000		Charter Communications Operating LLC	3.500		06/01/41		1,246,697
	1,000,000		Charter Communications Operating LLC	3.500		03/01/42		826,733
	1,550,000		Charter Communications Operating LLC	6.484		10/23/45		1,764,494
	1,400,000		Charter Communications Operating LLC	5.375		05/01/47		1,433,447
	1,375,000		Charter Communications Operating LLC	5.750		04/01/48		1,461,811
	1,600,000		Charter Communications Operating LLC	5.125		07/01/49		1,587,325
	2,500,000		Charter Communications Operating LLC	4.800		03/01/50		2,374,774
	2,500,000		Charter Communications Operating LLC	3.700		04/01/51		2,060,246
	3,000,000		Charter Communications Operating LLC	3.900		06/01/52		2,529,931
	500,000		Charter Communications Operating LLC	5.250		04/01/53		503,372
	2,000,000		Charter Communications Operating LLC	3.850		04/01/61		1,607,920
	1,500,000		Charter Communications Operating LLC	4.400		12/01/61		1,305,712
	1,000,000		Charter Communications Operating LLC	3.950		06/30/62		808,662
	500,000		Charter Communications Operating LLC	5.500		04/01/63		502,961
	1,000,000		Children’s Health System of Texas	2.511		08/15/50		783,686
	2,025,000		Comcast Corp	3.700		04/15/24		2,067,196
	850,000		Comcast Corp	3.375		02/15/25		862,955
	350,000		Comcast Corp	3.375		08/15/25		354,545
	1,550,000		Comcast Corp	3.950		10/15/25		1,600,704
	1,950,000		Comcast Corp	3.150		03/01/26		1,966,953
	1,025,000		Comcast Corp	2.350		01/15/27		996,666
	1,450,000		Comcast Corp	3.300		02/01/27		1,470,879
	900,000		Comcast Corp	3.150		02/15/28		898,456
	2,675,000		Comcast Corp	4.150		10/15/28		2,810,941
	5,000,000		Comcast Corp	3.400		04/01/30		5,065,241
	3,300,000		Comcast Corp	4.250		10/15/30		3,520,312
	1,950,000		Comcast Corp	1.950		01/15/31		1,759,063
	3,850,000		Comcast Corp	1.500		02/15/31		3,354,509
	1,925,000		Comcast Corp	4.250		01/15/33		2,079,213
	150,000		Comcast Corp	7.050		03/15/33		195,868
	200,000		Comcast Corp	4.200		08/15/34		213,478
	500,000		Comcast Corp	4.400		08/15/35		540,238
	36,000		Comcast Corp	6.500		11/15/35		46,540
	3,475,000		Comcast Corp	3.200		07/15/36		3,324,573
	3,150,000		Comcast Corp	3.900		03/01/38		3,244,417
	1,000,000		Comcast Corp	3.250		11/01/39		948,208
	3,800,000		Comcast Corp	3.750		04/01/40		3,825,130
	1,275,000		Comcast Corp	3.400		07/15/46		1,197,074
	631,000		Comcast Corp	3.969		11/01/47		641,040
	1,500,000		Comcast Corp	4.000		03/01/48		1,538,465
	1,407,000		Comcast Corp	3.999		11/01/49		1,419,046
	2,525,000		Comcast Corp	3.450		02/01/50		2,362,223
	425,000		Comcast Corp	2.800		01/15/51		358,388
	2,237,000	g	Comcast Corp	2.887		11/01/51		1,885,870
	1,050,000		Comcast Corp	2.450		08/15/52		832,835
	4,708,000	g	Comcast Corp	2.937		11/01/56		3,886,563
	850,000		Comcast Corp	2.650		08/15/62		656,589

60

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	6,758,000	g	Comcast Corp	2.987	%	11/01/63	$	5,530,245
	485,000		Cottage Health Obligated Group	3.304		11/01/49		448,069
	750,000		DH Europe Finance II Sarl	2.200		11/15/24		734,655
	300,000		DH Europe Finance II Sarl	2.600		11/15/29		285,959
	550,000		DH Europe Finance II Sarl	3.250		11/15/39		523,612
	1,000,000		DH Europe Finance II Sarl	3.400		11/15/49		950,897
	237,000		Discovery Communications LLC	2.950		03/20/23		237,529
	300,000		Discovery Communications LLC	3.800		03/13/24		302,146
	200,000		Discovery Communications LLC	3.900		11/15/24		202,030
	350,000		Discovery Communications LLC	3.450		03/15/25		346,630
	200,000		Discovery Communications LLC	3.950		06/15/25		201,953
	500,000		Discovery Communications LLC	4.900		03/11/26		520,383
	2,275,000		Discovery Communications LLC	3.950		03/20/28		2,272,379
	1,000,000		Discovery Communications LLC	4.125		05/15/29		1,008,979
	250,000		Discovery Communications LLC	3.625		05/15/30		242,825
	1,400,000		Discovery Communications LLC	5.200		09/20/47		1,456,315
	1,400,000		Discovery Communications LLC	5.300		05/15/49		1,464,182
	500,000		Discovery Communications LLC	4.650		05/15/50		484,617
	1,175,000		Discovery Communications LLC	4.000		09/15/55		1,013,765
	1,000,000		Electronic Arts, Inc	1.850		02/15/31		878,265
	1,000,000		Electronic Arts, Inc	2.950		02/15/51		833,653
	500,000		Extra Space Storage LP	3.900		04/01/29		501,039
	700,000		Extra Space Storage LP	2.550		06/01/31		631,484
	1,000,000		Extra Space Storage LP	2.350		03/15/32		877,608
	500,000		Fox Corp	4.030		01/25/24		510,449
	500,000		Fox Corp	3.050		04/07/25		499,740
	2,250,000		Fox Corp	4.709		01/25/29		2,402,077
	500,000		Fox Corp	3.500		04/08/30		495,312
	1,500,000		Fox Corp	5.476		01/25/39		1,698,152
	650,000		Fox Corp	5.576		01/25/49		755,535
	500,000	e	GE Capital Funding LLC	3.450		05/15/25		498,638
	3,000,000		GE Capital Funding LLC	4.550		05/15/32		3,221,627
	366,000		Grupo Televisa SAB	6.625		03/18/25		396,647
	200,000		Grupo Televisa SAB	4.625		01/30/26		205,802
	1,100,000		Grupo Televisa SAB	5.000		05/13/45		1,138,355
	700,000		Grupo Televisa SAB	6.125		01/31/46		841,373
	500,000		Grupo Televisa SAB	5.250		05/24/49		550,382
	1,900,000	g	GSK Consumer Healthcare Capital US LLC	3.375		03/24/27		1,899,975
	725,000	g	GSK Consumer Healthcare Capital US LLC	3.375		03/24/29		717,611
	1,500,000	g	GSK Consumer Healthcare Capital US LLC	3.625		03/24/32		1,498,590
	1,000,000	g	GSK Consumer Healthcare Capital US LLC	4.000		03/24/52		1,001,913
	100,000		Interpublic Group of Cos, Inc	4.200		04/15/24		101,816
	350,000		Interpublic Group of Cos, Inc	4.650		10/01/28		366,422
	500,000		Interpublic Group of Cos, Inc	4.750		03/30/30		536,831
	1,000,000		Interpublic Group of Cos, Inc	2.400		03/01/31		903,531
	1,000,000		Interpublic Group of Cos, Inc	3.375		03/01/41		890,152
	400,000		Interpublic Group of Cos, Inc	5.400		10/01/48		475,839
	445,000		Iowa Health System	3.665		02/15/50		420,457
	5,000,000	g	Magallanes, Inc	3.755		03/15/27		4,990,899
	3,325,000	g	Magallanes, Inc	4.054		03/15/29		3,341,491
	2,625,000	g	Magallanes, Inc	4.279		03/15/32		2,636,678
	2,750,000	g	Magallanes, Inc	5.050		03/15/42		2,805,083
	2,850,000	g	Magallanes, Inc	5.141		03/15/52		2,915,820
	1,475,000	g	Magallanes, Inc	5.391		03/15/62		1,523,790
	350,000		Marvell Technology, Inc	4.200		06/22/23		355,625
	1,000,000		Marvell Technology, Inc	1.650		04/15/26		929,173

61

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	1,000,000		Marvell Technology, Inc	2.450	%	04/15/28	$	919,478
	350,000		Marvell Technology, Inc	4.875		06/22/28		366,404
	1,000,000		Marvell Technology, Inc	2.950		04/15/31		924,343
	135,000		MedStar Health, Inc	3.626		08/15/49		126,119
	1,000,000	g	Morgan Stanley Direct Lending Fund	4.500		02/11/27		950,222
	870,000		NBC Universal Media LLC	4.450		01/15/43		935,416
	1,000,000		Northwestern Memorial Healthcare Obligated Group	2.633		07/15/51		834,794
	1,000,000		Ochsner LSU Health System of North Louisiana	2.510		05/15/31		880,409
	425,000		Omnicom Group, Inc	3.650		11/01/24		429,815
	1,050,000		Omnicom Group, Inc	3.600		04/15/26		1,062,698
	750,000		Omnicom Group, Inc	2.450		04/30/30		693,734
	325,000		Omnicom Group, Inc	4.200		06/01/30		339,294
	700,000		Omnicom Group, Inc	2.600		08/01/31		647,095
	1,000,000	g	Owl Rock Capital Corp III	3.125		04/13/27		884,596
	1,000,000	g	OWL Rock Core Income Corp	5.500		03/21/25		997,458
	1,000,000	g	OWL Rock Core Income Corp	4.700		02/08/27		961,780
	1,000,000		Owl Rock Technology Finance Corp	2.500		01/15/27		903,130
	1,000,000		Phillips Edison Grocery Center Operating Partnership I LP	2.625		11/15/31		883,137
	1,000,000		Rayonier LP	2.750		05/17/31		913,296
	1,000,000		Rexford Industrial Realty LP	2.125		12/01/30		874,212
	500,000		Rexford Industrial Realty LP	2.150		09/01/31		434,029
	625,000	g	S&P Global, Inc	2.450		03/01/27		608,101
	1,000,000	g	S&P Global, Inc	2.700		03/01/29		969,313
	1,000,000	g	S&P Global, Inc	2.900		03/01/32		969,451
	1,000,000	g	S&P Global, Inc	3.700		03/01/52		1,013,918
	1,000,000	g	S&P Global, Inc	3.900		03/01/62		1,028,619
	1,000,000		Safehold Operating Partnership LP	2.800		06/15/31		878,129
	500,000		Safehold Operating Partnership LP	2.850		01/15/32		440,522
	750,000		Schlumberger Finance Canada Ltd	1.400		09/17/25		711,532
	425,000		Sentara Healthcare	2.927		11/01/51		369,016
	500,000		Spectrum Health System Obligated Group	3.487		07/15/49		478,442
	1,000,000		STERIS Irish FinCo UnLtd Co	2.700		03/15/31		915,238
	1,000,000		STERIS Irish FinCo UnLtd Co	3.750		03/15/51		930,275
	500,000		Tencent Music Entertainment Group	1.375		09/03/25		458,060
	750,000		Tencent Music Entertainment Group	2.000		09/03/30		616,581
	1,075,000		Time Warner Cable LLC	6.550		05/01/37		1,236,282
	400,000		Time Warner Cable LLC	7.300		07/01/38		485,634
	500,000		Time Warner Cable LLC	6.750		06/15/39		579,727
	890,000		Time Warner Cable LLC	5.875		11/15/40		956,492
	475,000		Time Warner Cable LLC	5.500		09/01/41		493,089
	2,875,000		Time Warner Cable LLC	4.500		09/15/42		2,659,145
	325,000		Time Warner Entertainment Co LP	8.375		03/15/23		342,168
	300,000		Time Warner Entertainment Co LP	8.375		07/15/33		391,662
	200,000		Toledo Hospital	5.325		11/15/28		214,108
	450,000		Toledo Hospital	5.750		11/15/38		494,864
	200,000	e	Toledo Hospital	6.015		11/15/48		228,500
	550,000		TSMC Arizona Corp	1.750		10/25/26		515,428
	1,000,000		TSMC Arizona Corp	2.500		10/25/31		926,064
	1,000,000		TSMC Arizona Corp	3.125		10/25/41		911,813
	1,000,000	e	TSMC Arizona Corp	3.250		10/25/51		904,429
	138,000		ViacomCBS, Inc	3.500		01/15/25		138,665
	800,000		ViacomCBS, Inc	4.000		01/15/26		812,241
	650,000		ViacomCBS, Inc	2.900		01/15/27		633,927
	200,000		ViacomCBS, Inc	3.375		02/15/28		195,743
	1,300,000		ViacomCBS, Inc	3.700		06/01/28		1,289,548
	500,000		ViacomCBS, Inc	4.200		06/01/29		505,683

62

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	500,000		ViacomCBS, Inc	7.875	%	07/30/30	$	629,561
	500,000		ViacomCBS, Inc	4.950		01/15/31		531,490
	1,500,000		ViacomCBS, Inc	4.200		05/19/32		1,502,127
	150,000		ViacomCBS, Inc	6.875		04/30/36		183,492
	200,000		ViacomCBS, Inc	4.850		07/01/42		203,410
	2,179,000		ViacomCBS, Inc	4.375		03/15/43		2,073,863
	625,000		ViacomCBS, Inc	5.850		09/01/43		720,107
	200,000		ViacomCBS, Inc	4.900		08/15/44		201,868
	800,000		ViacomCBS, Inc	4.600		01/15/45		789,837
	1,000,000		ViacomCBS, Inc	4.950		05/19/50		1,045,149
	1,000,000		Viatris, Inc	1.650		06/22/25		930,548
	400,000		Viatris, Inc	2.300		06/22/27		364,057
	375,000		Viatris, Inc	2.700		06/22/30		329,837
	600,000		Viatris, Inc	3.850		06/22/40		518,947
	1,950,000		Viatris, Inc	4.000		06/22/50		1,638,149
	750,000		Walt Disney Co	1.750		08/30/24		736,503
	1,000,000		Walt Disney Co	3.350		03/24/25		1,013,959
	875,000		Walt Disney Co	3.150		09/17/25		878,803
	700,000		Walt Disney Co	3.700		10/15/25		716,418
	8,000,000		Walt Disney Co	1.750		01/13/26		7,662,690
	500,000		Walt Disney Co	3.000		02/13/26		500,901
	475,000		Walt Disney Co	1.850		07/30/26		453,679
	1,500,000	e	Walt Disney Co	2.950		06/15/27		1,492,672
	3,000,000		Walt Disney Co	2.200		01/13/28		2,849,731
	425,000		Walt Disney Co	2.000		09/01/29		392,918
	500,000		Walt Disney Co	3.800		03/22/30		519,626
	1,000,000		Walt Disney Co	2.650		01/13/31		954,945
	229,000		Walt Disney Co	6.400		12/15/35		293,644
	325,000		Walt Disney Co	6.650		11/15/37		432,816
	1,000,000		Walt Disney Co	3.500		05/13/40		973,990
	1,425,000		Walt Disney Co	6.150		02/15/41		1,855,897
	100,000		Walt Disney Co	4.375		08/16/41		105,529
	200,000		Walt Disney Co	3.700		12/01/42		197,409
	225,000		Walt Disney Co	5.400		10/01/43		272,262
	1,275,000		Walt Disney Co	4.125		06/01/44		1,335,930
	500,000		Walt Disney Co	4.750		09/15/44		565,020
	300,000		Walt Disney Co	4.950		10/15/45		345,992
	100,000		Walt Disney Co	3.000		07/30/46		88,771
	700,000		Walt Disney Co	4.750		11/15/46		800,105
	1,600,000		Walt Disney Co	2.750		09/01/49		1,361,415
	3,625,000		Walt Disney Co	4.700		03/23/50		4,204,041
	2,000,000		Walt Disney Co	3.600		01/13/51		1,977,545
	1,000,000		Walt Disney Co	3.800		05/13/60		1,006,255
	375,000		Weibo Corp	3.500		07/05/24		366,098
	900,000		Weibo Corp	3.375		07/08/30		767,955
	1,500,000		WPP Finance 2010	3.750		09/19/24		1,515,422
			TOTAL MEDIA & ENTERTAINMENT					282,679,860
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 1.2%
	850,000		AbbVie, Inc	2.850		05/14/23		855,066
	1,850,000		AbbVie, Inc	3.750		11/14/23		1,885,365
	2,350,000		AbbVie, Inc	3.800		03/15/25		2,393,669
	1,575,000		AbbVie, Inc	3.600		05/14/25		1,595,680
	4,150,000		AbbVie, Inc	3.200		05/14/26		4,161,155
	1,000,000		AbbVie, Inc	2.950		11/21/26		990,601
	675,000		AbbVie, Inc	4.250		11/14/28		711,125

63

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	6,750,000		AbbVie, Inc	3.200	%	11/21/29	$	6,669,732
	2,250,000		AbbVie, Inc	4.550		03/15/35		2,415,388
	1,925,000		AbbVie, Inc	4.500		05/14/35		2,066,096
	675,000		AbbVie, Inc	4.300		05/14/36		704,928
	3,300,000		AbbVie, Inc	4.050		11/21/39		3,390,443
	2,175,000		AbbVie, Inc	4.400		11/06/42		2,294,674
	1,625,000		AbbVie, Inc	4.850		06/15/44		1,801,387
	1,310,000		AbbVie, Inc	4.750		03/15/45		1,426,105
	925,000		AbbVie, Inc	4.700		05/14/45		1,004,274
	1,350,000		AbbVie, Inc	4.450		05/14/46		1,434,488
	1,150,000		AbbVie, Inc	4.875		11/14/48		1,299,742
	4,975,000		AbbVie, Inc	4.250		11/21/49		5,162,641
	400,000		Agilent Technologies, Inc	3.875		07/15/23		405,952
	200,000		Agilent Technologies, Inc	3.050		09/22/26		198,600
	500,000		Agilent Technologies, Inc	2.750		09/15/29		476,817
	1,000,000		Agilent Technologies, Inc	2.100		06/04/30		897,542
	1,000,000		Agilent Technologies, Inc	2.300		03/12/31		903,372
	2,475,000		Amgen, Inc	2.250		08/19/23		2,483,668
	950,000		Amgen, Inc	3.625		05/22/24		967,755
	775,000		Amgen, Inc	3.125		05/01/25		782,661
	1,225,000		Amgen, Inc	2.600		08/19/26		1,207,454
	3,250,000		Amgen, Inc	2.200		02/21/27		3,125,978
	775,000		Amgen, Inc	3.200		11/02/27		779,638
	1,500,000		Amgen, Inc	1.650		08/15/28		1,366,207
	1,000,000		Amgen, Inc	3.000		02/22/29		981,669
	1,000,000		Amgen, Inc	2.450		02/21/30		942,830
	500,000		Amgen, Inc	2.300		02/25/31		460,552
	800,000		Amgen, Inc	2.000		01/15/32		708,883
	850,000		Amgen, Inc	3.350		02/22/32		842,045
	1,325,000		Amgen, Inc	3.150		02/21/40		1,211,204
	1,500,000		Amgen, Inc	2.800		08/15/41		1,287,832
	126,000		Amgen, Inc	5.150		11/15/41		141,462
	2,675,000		Amgen, Inc	4.400		05/01/45		2,808,962
	2,128,000		Amgen, Inc	4.563		06/15/48		2,288,128
	2,575,000		Amgen, Inc	3.375		02/21/50		2,323,320
	2,447,000		Amgen, Inc	4.663		06/15/51		2,692,835
	1,000,000		Amgen, Inc	3.000		01/15/52		845,773
	1,000,000		Amgen, Inc	4.200		02/22/52		1,034,194
	172,000		Amgen, Inc	2.770		09/01/53		138,008
	1,000,000		Amgen, Inc	4.400		02/22/62		1,034,248
	475,000		AstraZeneca plc	3.500		08/17/23		482,270
	350,000		AstraZeneca plc	3.375		11/16/25		355,106
	1,000,000		AstraZeneca plc	0.700		04/08/26		913,806
	950,000		AstraZeneca plc	3.125		06/12/27		956,058
	1,700,000		AstraZeneca plc	4.000		01/17/29		1,790,093
	1,000,000		AstraZeneca plc	1.375		08/06/30		871,431
	1,900,000		AstraZeneca plc	6.450		09/15/37		2,523,477
	625,000		AstraZeneca plc	4.000		09/18/42		656,819
	500,000		AstraZeneca plc	4.375		11/16/45		557,746
	750,000		AstraZeneca plc	4.375		08/17/48		851,453
	600,000	e	AstraZeneca plc	2.125		08/06/50		460,951
	1,500,000	e	AstraZeneca plc	3.000		05/28/51		1,378,278
	449,000		Baxalta, Inc	4.000		06/23/25		458,257
	149,000		Baxalta, Inc	5.250		06/23/45		171,047
	875,000		Biogen, Inc	4.050		09/15/25		897,440
	300,000		Biogen, Inc	2.250		05/01/30		269,924

64

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	1,375,000		Biogen, Inc	3.150	%	05/01/50	$	1,125,977
	1,346,000	g	Biogen, Inc	3.250		02/15/51		1,112,646
	200,000		Bristol-Myers Squibb Co	3.250		11/01/23		202,547
	1,000,000		Bristol-Myers Squibb Co	0.537		11/13/23		972,118
	5,350,000		Bristol-Myers Squibb Co	2.900		07/26/24		5,389,685
	1,000,000		Bristol-Myers Squibb Co	0.750		11/13/25		926,077
	1,000,000		Bristol-Myers Squibb Co	1.125		11/13/27		911,410
	1,275,000		Bristol-Myers Squibb Co	3.900		02/20/28		1,328,035
	874,000		Bristol-Myers Squibb Co	3.400		07/26/29		889,546
	1,150,000		Bristol-Myers Squibb Co	1.450		11/13/30		1,003,309
	400,000		Bristol-Myers Squibb Co	2.950		03/15/32		391,290
	700,000		Bristol-Myers Squibb Co	4.125		06/15/39		751,670
	125,000		Bristol-Myers Squibb Co	2.350		11/13/40		105,481
	375,000		Bristol-Myers Squibb Co	3.550		03/15/42		370,896
	650,000		Bristol-Myers Squibb Co	3.250		08/01/42		612,102
	500,000		Bristol-Myers Squibb Co	4.350		11/15/47		548,355
	1,786,000		Bristol-Myers Squibb Co	4.550		02/20/48		2,021,024
	2,400,000		Bristol-Myers Squibb Co	4.250		10/26/49		2,617,176
	1,500,000		Bristol-Myers Squibb Co	2.550		11/13/50		1,245,127
	575,000		Bristol-Myers Squibb Co	3.700		03/15/52		577,840
	1,000,000		Bristol-Myers Squibb Co	3.900		03/15/62		1,005,424
	200,000		Danaher Corp	3.350		09/15/25		201,484
	200,000		Danaher Corp	4.375		09/15/45		211,046
	400,000		Danaher Corp	2.600		10/01/50		330,222
	750,000		Danaher Corp	2.800		12/10/51		637,302
	975,000		Eli Lilly & Co	2.750		06/01/25		970,691
	950,000		Eli Lilly & Co	3.100		05/15/27		949,865
	1,300,000		Eli Lilly & Co	2.250		05/15/50		1,054,362
	750,000		Eli Lilly & Co	2.500		09/15/60		603,222
	500,000		Gilead Sciences, Inc	2.500		09/01/23		500,911
	638,000		Gilead Sciences, Inc	0.750		09/29/23		623,083
	800,000		Gilead Sciences, Inc	3.700		04/01/24		814,300
	575,000		Gilead Sciences, Inc	3.500		02/01/25		582,776
	1,125,000		Gilead Sciences, Inc	3.650		03/01/26		1,144,136
	525,000		Gilead Sciences, Inc	2.950		03/01/27		519,824
	325,000		Gilead Sciences, Inc	1.200		10/01/27		293,207
	5,815,000		Gilead Sciences, Inc	1.650		10/01/30		5,110,053
	450,000		Gilead Sciences, Inc	4.600		09/01/35		489,429
	1,300,000		Gilead Sciences, Inc	4.000		09/01/36		1,328,098
	325,000		Gilead Sciences, Inc	2.600		10/01/40		273,647
	250,000		Gilead Sciences, Inc	5.650		12/01/41		301,775
	1,025,000		Gilead Sciences, Inc	4.800		04/01/44		1,126,777
	950,000		Gilead Sciences, Inc	4.500		02/01/45		1,012,227
	925,000		Gilead Sciences, Inc	4.750		03/01/46		1,025,068
	1,525,000		Gilead Sciences, Inc	4.150		03/01/47		1,568,068
	2,600,000		Gilead Sciences, Inc	2.800		10/01/50		2,127,642
	1,550,000		GlaxoSmithKline Capital plc	0.534		10/01/23		1,514,059
	2,900,000		GlaxoSmithKline Capital plc	3.375		06/01/29		2,957,850
	950,000		GlaxoSmithKline Capital, Inc	3.625		05/15/25		970,380
	925,000		GlaxoSmithKline Capital, Inc	3.875		05/15/28		965,784
	350,000		GlaxoSmithKline Capital, Inc	5.375		04/15/34		416,504
	1,243,000		GlaxoSmithKline Capital, Inc	6.375		05/15/38		1,654,556
	850,000		GlaxoSmithKline Capital, Inc	4.200		03/18/43		890,711
	1,500,000		Illumina, Inc	2.550		03/23/31		1,363,349
	300,000		Johnson & Johnson	2.050		03/01/23		301,033
	950,000		Johnson & Johnson	3.375		12/05/23		966,446

65

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	2,000,000		Johnson & Johnson	0.550	%	09/01/25	$	1,865,212
	1,000,000		Johnson & Johnson	2.450		03/01/26		994,628
	2,000,000		Johnson & Johnson	0.950		09/01/27		1,829,809
	2,000,000		Johnson & Johnson	1.300		09/01/30		1,780,895
	1,000,000		Johnson & Johnson	4.375		12/05/33		1,126,003
	250,000		Johnson & Johnson	3.550		03/01/36		258,448
	450,000		Johnson & Johnson	3.625		03/03/37		465,233
	250,000		Johnson & Johnson	5.950		08/15/37		325,219
	675,000		Johnson & Johnson	3.400		01/15/38		688,197
	375,000		Johnson & Johnson	5.850		07/15/38		483,268
	1,000,000		Johnson & Johnson	2.100		09/01/40		844,257
	300,000		Johnson & Johnson	4.500		12/05/43		343,414
	1,200,000		Johnson & Johnson	3.700		03/01/46		1,264,907
	1,625,000		Johnson & Johnson	3.750		03/03/47		1,737,755
	2,100,000		Johnson & Johnson	3.500		01/15/48		2,151,277
	500,000		Johnson & Johnson	2.250		09/01/50		409,729
	1,000,000		Johnson & Johnson	2.450		09/01/60		809,833
	1,300,000		Merck & Co, Inc	2.800		05/18/23		1,310,072
	1,450,000		Merck & Co, Inc	2.750		02/10/25		1,453,362
	2,875,000	e	Merck & Co, Inc	0.750		02/24/26		2,683,568
	2,000,000		Merck & Co, Inc	1.700		06/10/27		1,892,461
	1,500,000		Merck & Co, Inc	1.900		12/10/28		1,411,731
	3,175,000		Merck & Co, Inc	1.450		06/24/30		2,818,976
	1,150,000		Merck & Co, Inc	2.150		12/10/31		1,063,672
	1,475,000		Merck & Co, Inc	3.900		03/07/39		1,567,141
	425,000		Merck & Co, Inc	2.350		06/24/40		366,014
	100,000		Merck & Co, Inc	3.600		09/15/42		100,425
	925,000		Merck & Co, Inc	4.150		05/18/43		1,004,716
	1,825,000		Merck & Co, Inc	3.700		02/10/45		1,858,723
	1,600,000		Merck & Co, Inc	4.000		03/07/49		1,733,550
	375,000		Merck & Co, Inc	2.450		06/24/50		311,755
	625,000		Merck & Co, Inc	2.750		12/10/51		544,400
	1,100,000		Merck & Co, Inc	2.900		12/10/61		936,599
	2,800,000		Mylan NV	3.950		06/15/26		2,778,535
	750,000		Mylan NV	5.250		06/15/46		741,412
	500,000		Mylan, Inc	4.550		04/15/28		505,517
	700,000		Mylan, Inc	5.200		04/15/48		686,162
	2,300,000		Novartis Capital Corp	3.400		05/06/24		2,341,552
	725,000		Novartis Capital Corp	3.000		11/20/25		728,699
	3,500,000		Novartis Capital Corp	2.000		02/14/27		3,368,396
	1,300,000		Novartis Capital Corp	3.100		05/17/27		1,312,693
	1,000,000		Novartis Capital Corp	2.200		08/14/30		938,744
	400,000		Novartis Capital Corp	3.700		09/21/42		406,954
	1,025,000		Novartis Capital Corp	4.400		05/06/44		1,160,466
	1,000,000		Novartis Capital Corp	4.000		11/20/45		1,071,430
	750,000		Novartis Capital Corp	2.750		08/14/50		671,424
	1,000,000		PerkinElmer, Inc	1.900		09/15/28		903,590
	500,000		PerkinElmer, Inc	3.300		09/15/29		487,584
	1,000,000		PerkinElmer, Inc	2.550		03/15/31		917,388
	300,000		PerkinElmer, Inc	2.250		09/15/31		265,158
	1,000,000		PerkinElmer, Inc	3.625		03/15/51		927,020
	1,175,000		Pfizer, Inc	3.400		05/15/24		1,198,306
	3,000,000		Pfizer, Inc	0.800		05/28/25		2,837,070
	350,000		Pfizer, Inc	2.750		06/03/26		349,661
	2,850,000		Pfizer, Inc	3.000		12/15/26		2,875,032
	950,000		Pfizer, Inc	3.600		09/15/28		988,559

66

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	1,550,000	Pfizer, Inc	3.450	%	03/15/29	$	1,594,280
	3,000,000	Pfizer, Inc	1.750		08/18/31		2,698,316
	425,000	Pfizer, Inc	4.000		12/15/36		451,112
	500,000	Pfizer, Inc	4.100		09/15/38		544,129
	875,000	Pfizer, Inc	3.900		03/15/39		930,148
	350,000	Pfizer, Inc	7.200		03/15/39		512,871
	1,250,000	Pfizer, Inc	2.550		05/28/40		1,117,911
	625,000	Pfizer, Inc	4.300		06/15/43		688,657
	1,100,000	Pfizer, Inc	4.400		05/15/44		1,239,359
	1,875,000	Pfizer, Inc	4.125		12/15/46		2,091,757
	1,200,000	Pfizer, Inc	4.200		09/15/48		1,341,877
	2,100,000	Pfizer, Inc	4.000		03/15/49		2,295,046
	1,000,000	Pfizer, Inc	2.700		05/28/50		885,013
	1,000,000	Regeneron Pharmaceuticals, Inc	1.750		09/15/30		867,776
	500,000	Regeneron Pharmaceuticals, Inc	2.800		09/15/50		399,519
	1,000,000	Royalty Pharma plc	0.750		09/02/23		970,871
	1,000,000	Royalty Pharma plc	1.200		09/02/25		919,867
	1,000,000	Royalty Pharma plc	1.750		09/02/27		907,571
	375,000	Royalty Pharma plc	2.200		09/02/30		327,860
	1,000,000	Royalty Pharma plc	2.150		09/02/31		857,366
	1,000,000	Royalty Pharma plc	3.300		09/02/40		851,396
	1,000,000	Royalty Pharma plc	3.550		09/02/50		830,681
	1,000,000	Royalty Pharma plc	3.350		09/02/51		801,611
	500,000	Sanofi	3.625		06/19/28		514,764
	1,000,000	Takeda Pharmaceutical Co Ltd	4.400		11/26/23		1,024,666
	2,100,000	Takeda Pharmaceutical Co Ltd	5.000		11/26/28		2,277,181
	700,000	Takeda Pharmaceutical Co Ltd	2.050		03/31/30		631,845
	2,050,000	Takeda Pharmaceutical Co Ltd	3.025		07/09/40		1,827,793
	1,150,000	Takeda Pharmaceutical Co Ltd	3.175		07/09/50		1,006,007
	1,000,000	Takeda Pharmaceutical Co Ltd	3.375		07/09/60		871,213
	3,000,000	Thermo Fisher Scientific, Inc	1.215		10/18/24		2,884,912
	1,000,000	Thermo Fisher Scientific, Inc	1.750		10/15/28		913,585
	1,500,000	Thermo Fisher Scientific, Inc	2.600		10/01/29		1,429,931
	275,000	Thermo Fisher Scientific, Inc	2.000		10/15/31		246,868
	1,500,000	Thermo Fisher Scientific, Inc	2.800		10/15/41		1,343,471
	200,000	Thermo Fisher Scientific, Inc	5.300		02/01/44		244,029
	200,000	Thermo Fisher Scientific, Inc	4.100		08/15/47		214,235
	1,000,000	Wyeth LLC	6.450		02/01/24		1,069,267
	150,000	Wyeth LLC	6.500		02/01/34		194,768
	275,000	Wyeth LLC	5.950		04/01/37		349,710
	300,000	Zoetis, Inc	4.500		11/13/25		313,054
	425,000	Zoetis, Inc	3.000		09/12/27		423,243
	500,000	Zoetis, Inc	3.900		08/20/28		513,224
	900,000	Zoetis, Inc	4.700		02/01/43		1,004,213
	650,000	Zoetis, Inc	3.950		09/12/47		670,306
	200,000	Zoetis, Inc	4.450		08/20/48		223,752
	375,000	Zoetis, Inc	3.000		05/15/50		332,285
		TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES					260,647,843
REAL ESTATE - 1.0%
	100,000	Alexandria Real Estate Equities, Inc	3.450		04/30/25		100,635
	200,000	Alexandria Real Estate Equities, Inc	4.300		01/15/26		205,800
	500,000	Alexandria Real Estate Equities, Inc	3.800		04/15/26		508,874
	200,000	Alexandria Real Estate Equities, Inc	4.500		07/30/29		212,573
	425,000	Alexandria Real Estate Equities, Inc	2.750		12/15/29		402,896

67

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	100,000		Alexandria Real Estate Equities, Inc	4.700	%	07/01/30	$	107,745
	275,000		Alexandria Real Estate Equities, Inc	3.375		08/15/31		270,692
	1,500,000		Alexandria Real Estate Equities, Inc	2.000		05/18/32		1,311,034
	450,000		Alexandria Real Estate Equities, Inc	1.875		02/01/33		380,607
	800,000		Alexandria Real Estate Equities, Inc	2.950		03/15/34		752,634
	500,000		Alexandria Real Estate Equities, Inc	4.850		04/15/49		564,673
	700,000		Alexandria Real Estate Equities, Inc	4.000		02/01/50		690,550
	1,000,000		Alexandria Real Estate Equities, Inc	3.000		05/18/51		841,441
	1,500,000		Alexandria Real Estate Equities, Inc	3.550		03/15/52		1,394,097
	100,000		American Campus Communities Operating Partnership LP	3.750		04/15/23		101,005
	500,000		American Campus Communities Operating Partnership LP	3.300		07/15/26		497,191
	200,000		American Campus Communities Operating Partnership LP	3.625		11/15/27		198,282
	1,000,000		American Campus Communities Operating Partnership LP	2.250		01/15/29		913,867
	500,000		American Campus Communities Operating Partnership LP	2.850		02/01/30		468,836
	500,000		American Homes 4 Rent LP	4.900		02/15/29		531,775
	250,000		American Homes 4 Rent LP	2.375		07/15/31		220,699
	750,000		American Homes 4 Rent LP	3.625		04/15/32		731,378
	250,000		American Homes 4 Rent LP	3.375		07/15/51		208,922
	500,000		American Homes 4 Rent LP	4.300		04/15/52		486,185
	800,000		American Tower Corp	3.500		01/31/23		807,413
	1,500,000		American Tower Corp	0.600		01/15/24		1,437,609
	450,000		American Tower Corp	5.000		02/15/24		465,452
	350,000		American Tower Corp	3.375		05/15/24		351,052
	750,000		American Tower Corp	2.400		03/15/25		729,870
	525,000		American Tower Corp	4.000		06/01/25		532,015
	1,350,000		American Tower Corp	1.300		09/15/25		1,257,482
	200,000		American Tower Corp	4.400		02/15/26		205,276
	1,000,000		American Tower Corp	1.600		04/15/26		926,844
	1,000,000		American Tower Corp	1.450		09/15/26		912,398
	425,000		American Tower Corp	3.375		10/15/26		419,329
	750,000		American Tower Corp	2.750		01/15/27		718,152
	500,000	e	American Tower Corp	3.125		01/15/27		487,215
	150,000		American Tower Corp	3.550		07/15/27		148,792
	500,000		American Tower Corp	3.600		01/15/28		495,209
	875,000		American Tower Corp	1.500		01/31/28		773,147
	350,000		American Tower Corp	3.950		03/15/29		350,467
	750,000		American Tower Corp	2.900		01/15/30		695,945
	750,000		American Tower Corp	2.100		06/15/30		654,082
	725,000		American Tower Corp	1.875		10/15/30		617,024
	1,000,000		American Tower Corp	2.700		04/15/31		904,403
	1,000,000		American Tower Corp	2.300		09/15/31		873,224
	1,350,000		American Tower Corp	3.700		10/15/49		1,203,181
	425,000		American Tower Corp	3.100		06/15/50		343,422
	1,275,000		American Tower Corp	2.950		01/15/51		1,001,901
	200,000		AvalonBay Communities, Inc	3.500		11/15/24		202,119
	200,000		AvalonBay Communities, Inc	2.950		05/11/26		198,296
	100,000		AvalonBay Communities, Inc	2.900		10/15/26		98,835
	1,200,000		AvalonBay Communities, Inc	3.350		05/15/27		1,199,010
	200,000		AvalonBay Communities, Inc	3.200		01/15/28		197,518
	500,000		AvalonBay Communities, Inc	1.900		12/01/28		454,035
	750,000		AvalonBay Communities, Inc	3.300		06/01/29		753,366
	750,000		AvalonBay Communities, Inc	2.300		03/01/30		702,205
	800,000	e	AvalonBay Communities, Inc	2.050		01/15/32		723,338
	400,000		AvalonBay Communities, Inc	4.150		07/01/47		426,215
	200,000		AvalonBay Communities, Inc	4.350		04/15/48		219,124
	425,000		Boston Properties LP	3.125		09/01/23		427,528

68

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	200,000	Boston Properties LP	3.800	%	02/01/24	$	202,776
	1,500,000	Boston Properties LP	3.200		01/15/25		1,499,154
	275,000	Boston Properties LP	3.650		02/01/26		278,601
	700,000	Boston Properties LP	2.750		10/01/26		681,344
	550,000	Boston Properties LP	4.500		12/01/28		580,072
	550,000	Boston Properties LP	3.400		06/21/29		545,215
	750,000	Boston Properties LP	2.900		03/15/30		709,756
	1,000,000	Boston Properties LP	3.250		01/30/31		967,127
	2,000,000	Boston Properties LP	2.550		04/01/32		1,803,700
	1,000,000	Boston Properties LP	2.450		10/01/33		866,981
	100,000	Brandywine Operating Partnership LP	3.950		02/15/23		100,650
	500,000	Brandywine Operating Partnership LP	4.100		10/01/24		505,856
	100,000	Brandywine Operating Partnership LP	3.950		11/15/27		100,121
	500,000	Brandywine Operating Partnership LP	4.550		10/01/29		517,905
	900,000	Brixmor Operating Partnership LP	3.650		06/15/24		906,524
	200,000	Brixmor Operating Partnership LP	3.850		02/01/25		201,472
	225,000	Brixmor Operating Partnership LP	4.125		06/15/26		229,531
	300,000	Brixmor Operating Partnership LP	3.900		03/15/27		302,487
	100,000	Brixmor Operating Partnership LP	2.250		04/01/28		91,324
	600,000	Brixmor Operating Partnership LP	4.125		05/15/29		615,415
	940,000	Brixmor Operating Partnership LP	4.050		07/01/30		943,137
	100,000	Brixmor Operating Partnership LP	2.500		08/16/31		88,324
	200,000	Camden Property Trust	2.950		12/15/22		200,856
	100,000	Camden Property Trust	4.100		10/15/28		103,994
	325,000	Camden Property Trust	3.150		07/01/29		321,391
	100,000	Camden Property Trust	2.800		05/15/30		96,108
	500,000	Camden Property Trust	3.350		11/01/49		465,845
	500,000	CBRE Services, Inc	4.875		03/01/26		524,670
	1,000,000	CBRE Services, Inc	2.500		04/01/31		903,519
	1,000,000	Corporate Office Properties LP	2.250		03/15/26		952,788
	1,000,000	Corporate Office Properties LP	2.000		01/15/29		879,801
	175,000	Corporate Office Properties LP	2.750		04/15/31		157,100
	1,000,000	Corporate Office Properties LP	2.900		12/01/33		882,751
	1,375,000	Crown Castle International Corp	3.150		07/15/23		1,384,289
	500,000	Crown Castle International Corp	3.200		09/01/24		500,586
	1,000,000	Crown Castle International Corp	1.350		07/15/25		932,268
	975,000	Crown Castle International Corp	4.450		02/15/26		1,004,010
	250,000	Crown Castle International Corp	3.700		06/15/26		251,585
	1,500,000	Crown Castle International Corp	1.050		07/15/26		1,355,158
	100,000	Crown Castle International Corp	4.000		03/01/27		101,381
	525,000	Crown Castle International Corp	3.650		09/01/27		521,189
	775,000	Crown Castle International Corp	3.800		02/15/28		774,215
	300,000	Crown Castle International Corp	4.300		02/15/29		308,165
	500,000	Crown Castle International Corp	3.100		11/15/29		473,759
	275,000	Crown Castle International Corp	3.300		07/01/30		262,990
	1,050,000	Crown Castle International Corp	2.250		01/15/31		925,454
	1,500,000	Crown Castle International Corp	2.100		04/01/31		1,297,179
	1,000,000	Crown Castle International Corp	2.500		07/15/31		892,046
	1,000,000	Crown Castle International Corp	2.900		04/01/41		827,761
	200,000	Crown Castle International Corp	4.750		05/15/47		209,743
	300,000	Crown Castle International Corp	5.200		02/15/49		334,314
	500,000	Crown Castle International Corp	4.000		11/15/49		471,338
	200,000	Crown Castle International Corp	4.150		07/01/50		195,087
	875,000	Crown Castle International Corp	3.250		01/15/51		732,843
	200,000	CubeSmart LP	3.125		09/01/26		197,997
	600,000	CubeSmart LP	2.250		12/15/28		544,845

69

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	100,000		CubeSmart LP	4.375	%	02/15/29	$	104,543
	250,000		CubeSmart LP	3.000		02/15/30		239,229
	450,000		CubeSmart LP	2.000		02/15/31		391,508
	700,000		CubeSmart LP	2.500		02/15/32		626,633
	250,000		CyrusOne LP	2.900		11/15/24		250,530
	750,000		CyrusOne LP	3.450		11/15/29		772,500
	475,000		Digital Realty Trust LP	3.700		08/15/27		477,902
	300,000	e	Digital Realty Trust LP	4.450		07/15/28		312,132
	1,000,000		Digital Realty Trust LP	3.600		07/01/29		995,468
	100,000		Duke Realty LP	3.250		06/30/26		99,459
	1,000,000		Duke Realty LP	3.375		12/15/27		988,103
	100,000		Duke Realty LP	4.000		09/15/28		102,073
	225,000		Duke Realty LP	2.875		11/15/29		215,687
	200,000		Duke Realty LP	1.750		07/01/30		174,911
	1,000,000		Duke Realty LP	1.750		02/01/31		867,331
	775,000		Duke Realty LP	2.250		01/15/32		696,924
	500,000		Duke Realty LP	3.050		03/01/50		426,822
	1,000,000		EPR Properties	3.600		11/15/31		906,601
	1,000,000		Equinix, Inc	2.625		11/18/24		985,701
	1,000,000		Equinix, Inc	1.250		07/15/25		932,288
	525,000		Equinix, Inc	1.000		09/15/25		482,434
	2,000,000		Equinix, Inc	1.450		05/15/26		1,834,773
	650,000		Equinix, Inc	2.900		11/18/26		629,444
	200,000		Equinix, Inc	1.800		07/15/27		181,838
	800,000		Equinix, Inc	1.550		03/15/28		706,300
	2,000,000		Equinix, Inc	2.000		05/15/28		1,802,089
	1,000,000	e	Equinix, Inc	3.200		11/18/29		956,996
	175,000		Equinix, Inc	2.150		07/15/30		153,154
	2,000,000		Equinix, Inc	2.500		05/15/31		1,793,647
	500,000		Equinix, Inc	3.000		07/15/50		407,723
	1,000,000		Equinix, Inc	2.950		09/15/51		796,736
	1,500,000		Equinix, Inc	3.400		02/15/52		1,298,922
	700,000		ERP Operating LP	3.375		06/01/25		701,303
	200,000		ERP Operating LP	2.850		11/01/26		196,007
	1,150,000		ERP Operating LP	3.250		08/01/27		1,138,768
	500,000		ERP Operating LP	3.500		03/01/28		501,801
	200,000		ERP Operating LP	4.150		12/01/28		206,781
	750,000		ERP Operating LP	3.000		07/01/29		735,663
	300,000		ERP Operating LP	2.500		02/15/30		282,685
	500,000		ERP Operating LP	1.850		08/01/31		443,687
	425,000		ERP Operating LP	4.500		07/01/44		461,823
	100,000		ERP Operating LP	4.000		08/01/47		102,845
	650,000		Essential Properties LP	2.950		07/15/31		568,644
	100,000		Essex Portfolio LP	3.250		05/01/23		100,423
	400,000		Essex Portfolio LP	3.500		04/01/25		403,154
	100,000		Essex Portfolio LP	3.375		04/15/26		100,077
	200,000		Essex Portfolio LP	3.625		05/01/27		202,666
	1,000,000		Essex Portfolio LP	1.700		03/01/28		901,308
	900,000		Essex Portfolio LP	4.000		03/01/29		927,357
	325,000		Essex Portfolio LP	3.000		01/15/30		311,167
	750,000		Essex Portfolio LP	1.650		01/15/31		638,825
	1,000,000		Essex Portfolio LP	2.550		06/15/31		911,238
	500,000		Essex Portfolio LP	2.650		03/15/32		457,355
	300,000		Essex Portfolio LP	4.500		03/15/48		318,286
	500,000		Federal Realty Investment Trust	3.950		01/15/24		506,470
	300,000		Federal Realty Investment Trust	1.250		02/15/26		276,074

70

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	250,000		Federal Realty Investment Trust	3.250	%	07/15/27	$	245,648
	1,300,000		Federal Realty Investment Trust	3.200		06/15/29		1,272,570
	300,000		Federal Realty Investment Trust	3.500		06/01/30		294,410
	200,000		Federal Realty Investment Trust	4.500		12/01/44		202,220
	250,000		GLP Capital LP	3.350		09/01/24		248,459
	1,300,000		GLP Capital LP	5.250		06/01/25		1,338,103
	150,000		GLP Capital LP	5.375		04/15/26		156,740
	750,000		GLP Capital LP	5.750		06/01/28		807,205
	200,000		GLP Capital LP	5.300		01/15/29		210,114
	500,000		GLP Capital LP	4.000		01/15/30		485,305
	500,000		GLP Capital LP	4.000		01/15/31		484,940
	750,000		GLP Capital LP	3.250		01/15/32		680,475
	100,000		Healthcare Realty Trust, Inc	3.625		01/15/28		99,043
	100,000		Healthcare Realty Trust, Inc	2.400		03/15/30		90,712
	175,000		Healthcare Realty Trust, Inc	2.050		03/15/31		152,233
	800,000		Healthcare Trust of America Holdings LP	3.500		08/01/26		797,585
	500,000		Healthcare Trust of America Holdings LP	3.100		02/15/30		475,294
	975,000		Healthcare Trust of America Holdings LP	2.000		03/15/31		843,653
	100,000		Healthpeak Properties, Inc	3.250		07/15/26		99,846
	1,500,000		Healthpeak Properties, Inc	1.350		02/01/27		1,376,628
	325,000		Healthpeak Properties, Inc	2.125		12/01/28		298,852
	600,000		Healthpeak Properties, Inc	3.500		07/15/29		599,166
	1,000,000		Healthpeak Properties, Inc	3.000		01/15/30		960,658
	175,000		Healthpeak Properties, Inc	2.875		01/15/31		165,724
	30,000		Healthpeak Properties, Inc	6.750		02/01/41		39,572
	100,000		Highwoods Realty LP	3.875		03/01/27		100,713
	150,000		Highwoods Realty LP	4.125		03/15/28		152,041
	250,000		Highwoods Realty LP	4.200		04/15/29		254,930
	500,000		Highwoods Realty LP	3.050		02/15/30		475,248
	775,000		Highwoods Realty LP	2.600		02/01/31		703,206
	700,000		Host Hotels & Resorts LP	3.875		04/01/24		705,619
	200,000		Host Hotels & Resorts LP	4.000		06/15/25		201,811
	100,000		Host Hotels & Resorts LP	4.500		02/01/26		102,289
	500,000		Host Hotels & Resorts LP	3.375		12/15/29		476,375
	850,000		Host Hotels & Resorts LP	3.500		09/15/30		810,441
	200,000		Host Hotels & Resorts LP	2.900		12/15/31		178,771
	100,000		Hudson Pacific Properties LP	3.950		11/01/27		100,398
	100,000		Hudson Pacific Properties LP	4.650		04/01/29		104,854
	750,000		Hudson Pacific Properties LP	3.250		01/15/30		716,650
	300,000		Invitation Homes Operating Partnership LP	2.300		11/15/28		271,392
	500,000		Invitation Homes Operating Partnership LP	2.000		08/15/31		426,984
	575,000	h	Invitation Homes Operating Partnership LP	4.150		04/15/32		587,229
	750,000		Invitation Homes Operating Partnership LP	2.700		01/15/34		655,475
	125,000		Kilroy Realty LP	3.450		12/15/24		124,981
	250,000		Kilroy Realty LP	4.750		12/15/28		262,014
	200,000		Kilroy Realty LP	4.250		08/15/29		205,225
	750,000		Kilroy Realty LP	3.050		02/15/30		701,463
	500,000		Kilroy Realty LP	2.500		11/15/32		434,571
	1,000,000		Kilroy Realty LP	2.650		11/15/33		866,409
	300,000		Kimco Realty Corp	3.125		06/01/23		301,302
	200,000		Kimco Realty Corp	2.700		03/01/24		198,407
	1,175,000		Kimco Realty Corp	3.300		02/01/25		1,169,496
	625,000		Kimco Realty Corp	2.800		10/01/26		606,733
	200,000		Kimco Realty Corp	3.800		04/01/27		202,187
	500,000		Kimco Realty Corp	1.900		03/01/28		453,352
	750,000		Kimco Realty Corp	2.700		10/01/30		702,613

71

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	1,000,000		Kimco Realty Corp	2.250	%	12/01/31	$	895,593
	200,000		Kimco Realty Corp	4.250		04/01/45		199,551
	175,000		Kimco Realty Corp	4.125		12/01/46		174,017
	100,000		Kimco Realty Corp	4.450		09/01/47		104,447
	500,000		Kimco Realty Corp	3.700		10/01/49		462,525
	750,000		Lexington Realty Trust	2.700		09/15/30		691,995
	1,000,000		Lexington Realty Trust	2.375		10/01/31		887,012
	200,000		Life Storage LP	3.875		12/15/27		202,264
	500,000		Life Storage LP	4.000		06/15/29		506,753
	100,000		Life Storage LP	2.200		10/15/30		88,465
	450,000		Life Storage LP	2.400		10/15/31		396,576
	200,000		Mid-America Apartments LP	4.300		10/15/23		203,352
	100,000		Mid-America Apartments LP	4.000		11/15/25		102,059
	1,000,000		Mid-America Apartments LP	1.100		09/15/26		910,564
	750,000		Mid-America Apartments LP	3.600		06/01/27		751,434
	200,000		Mid-America Apartments LP	4.200		06/15/28		206,497
	625,000		Mid-America Apartments LP	3.950		03/15/29		643,575
	175,000		Mid-America Apartments LP	2.750		03/15/30		167,082
	250,000		Mid-America Apartments LP	1.700		02/15/31		216,758
	150,000		Mid-America Apartments LP	2.875		09/15/51		125,629
	1,000,000		National Health Investors, Inc	3.000		02/01/31		870,200
	1,550,000		National Retail Properties, Inc	3.500		10/15/27		1,542,684
	300,000		National Retail Properties, Inc	2.500		04/15/30		275,928
	500,000		National Retail Properties, Inc	3.100		04/15/50		415,577
	1,000,000		National Retail Properties, Inc	3.500		04/15/51		879,564
	1,000,000		National Retail Properties, Inc	3.000		04/15/52		801,870
	1,000,000		Office Properties Income Trust	2.650		06/15/26		914,394
	500,000		Office Properties Income Trust	2.400		02/01/27		444,731
	1,000,000		Office Properties Income Trust	3.450		10/15/31		861,546
	248,000		Omega Healthcare Investors, Inc	4.375		08/01/23		251,814
	200,000		Omega Healthcare Investors, Inc	4.500		04/01/27		203,974
	825,000		Omega Healthcare Investors, Inc	4.750		01/15/28		839,032
	500,000		Omega Healthcare Investors, Inc	3.625		10/01/29		472,428
	500,000		Omega Healthcare Investors, Inc	3.375		02/01/31		458,044
	1,000,000		Omega Healthcare Investors, Inc	3.250		04/15/33		872,110
	200,000		Physicians Realty LP	4.300		03/15/27		204,706
	200,000		Physicians Realty LP	3.950		01/15/28		201,614
	1,000,000		Physicians Realty LP	2.625		11/01/31		902,185
	200,000		Piedmont Operating Partnership LP	3.400		06/01/23		200,225
	200,000		Piedmont Operating Partnership LP	4.450		03/15/24		203,372
	1,000,000		Piedmont Operating Partnership LP	2.750		04/01/32		891,048
	100,000		Prologis LP	3.250		10/01/26		100,542
	500,000		Prologis LP	2.125		04/15/27		474,139
	1,200,000		Prologis LP	3.875		09/15/28		1,230,176
	100,000		Prologis LP	4.375		02/01/29		106,385
	500,000		Prologis LP	2.250		04/15/30		464,524
	1,000,000		Prologis LP	1.250		10/15/30		851,407
	1,000,000		Prologis LP	1.625		03/15/31		872,811
	100,000		Prologis LP	4.375		09/15/48		109,235
	500,000		Prologis LP	3.000		04/15/50		444,655
	500,000		Prologis LP	2.125		10/15/50		374,195
	1,500,000		Public Storage	0.875		02/15/26		1,384,845
	750,000	e	Public Storage	1.500		11/09/26		702,350
	200,000		Public Storage	3.094		09/15/27		200,054
	1,500,000		Public Storage	1.850		05/01/28		1,379,200
	750,000		Public Storage	1.950		11/09/28		694,099

72

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	500,000		Public Storage	3.385	%	05/01/29	$	504,809
	1,000,000		Public Storage	2.300		05/01/31		924,191
	250,000		Public Storage	2.250		11/09/31		228,549
	200,000		Realty Income Corp	3.875		04/15/25		203,135
	750,000		Realty Income Corp	0.750		03/15/26		678,052
	425,000		Realty Income Corp	4.875		06/01/26		448,324
	200,000		Realty Income Corp	4.125		10/15/26		206,213
	200,000		Realty Income Corp	3.000		01/15/27		196,925
	650,000		Realty Income Corp	3.950		08/15/27		667,716
	1,000,000		Realty Income Corp	3.400		01/15/28		997,156
	1,000,000		Realty Income Corp	3.650		01/15/28		1,004,703
	500,000		Realty Income Corp	2.200		06/15/28		461,246
	500,000		Realty Income Corp	3.250		06/15/29		495,969
	500,000		Realty Income Corp	3.100		12/15/29		488,734
	1,500,000		Realty Income Corp	3.250		01/15/31		1,473,011
	500,000		Realty Income Corp	2.850		12/15/32		472,382
	750,000		Realty Income Corp	1.800		03/15/33		621,291
	300,000		Realty Income Corp	4.650		03/15/47		333,773
	375,000		Regency Centers LP	3.600		02/01/27		380,045
	125,000		Regency Centers LP	4.125		03/15/28		129,139
	425,000		Regency Centers LP	2.950		09/15/29		404,883
	500,000		Regency Centers LP	3.700		06/15/30		500,235
	200,000		Regency Centers LP	4.400		02/01/47		205,390
	300,000		Regency Centers LP	4.650		03/15/49		323,174
	350,000		Retail Properties of America, Inc	4.750		09/15/30		361,709
	300,000		Sabra Health Care LP	5.125		08/15/26		306,876
	1,000,000		Sabra Health Care LP	3.200		12/01/31		892,393
	500,000		Select Income REIT	4.250		05/15/24		503,189
	400,000		Select Income REIT	4.500		02/01/25		399,219
	1,300,000		Simon Property Group LP	2.750		06/01/23		1,302,734
	500,000		Simon Property Group LP	2.000		09/13/24		490,758
	450,000		Simon Property Group LP	3.375		10/01/24		455,204
	800,000		Simon Property Group LP	3.500		09/01/25		807,063
	625,000		Simon Property Group LP	3.300		01/15/26		629,040
	350,000		Simon Property Group LP	3.250		11/30/26		348,684
	1,000,000	e	Simon Property Group LP	1.375		01/15/27		919,532
	200,000		Simon Property Group LP	3.375		06/15/27		200,419
	300,000		Simon Property Group LP	3.375		12/01/27		298,155
	1,000,000		Simon Property Group LP	1.750		02/01/28		910,982
	1,750,000		Simon Property Group LP	2.450		09/13/29		1,630,733
	750,000		Simon Property Group LP	2.650		07/15/30		707,299
	1,000,000		Simon Property Group LP	2.200		02/01/31		899,891
	500,000		Simon Property Group LP	2.250		01/15/32		445,767
	1,500,000		Simon Property Group LP	2.650		02/01/32		1,385,721
	1,500,000		Simon Property Group LP	4.250		10/01/44		1,531,898
	300,000		Simon Property Group LP	4.250		11/30/46		313,097
	500,000		Simon Property Group LP	3.250		09/13/49		447,679
	750,000		Simon Property Group LP	3.800		07/15/50		739,603
	150,000		SITE Centers Corp	4.250		02/01/26		151,750
	200,000		SITE Centers Corp	4.700		06/01/27		207,008
	200,000		SL Green Operating Partnership LP	3.250		10/15/22		200,395
	200,000	e	SL Green Realty Corp	4.500		12/01/22		201,186
	525,000		Sovran Acquisition LP	3.500		07/01/26		528,127
	300,000		Spirit Realty LP	3.200		01/15/27		293,447
	1,000,000		Spirit Realty LP	2.100		03/15/28		905,365
	500,000		Spirit Realty LP	4.000		07/15/29		505,282

73

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	300,000		Spirit Realty LP	3.400	%	01/15/30	$	290,118
	500,000		Spirit Realty LP	3.200		02/15/31		477,197
	1,000,000		Spirit Realty LP	2.700		02/15/32		899,802
	500,000		STORE Capital Corp	4.625		03/15/29		518,897
	500,000		STORE Capital Corp	2.750		11/18/30		452,439
	750,000		STORE Capital Corp	2.700		12/01/31		664,722
	500,000		Sun Communities Operating LP	2.300		11/01/28		452,987
	1,250,000		Sun Communities Operating LP	2.700		07/15/31		1,127,670
	100,000		Tanger Properties LP	3.125		09/01/26		95,998
	250,000	e	Tanger Properties LP	3.875		07/15/27		249,715
	500,000		Tanger Properties LP	2.750		09/01/31		433,723
	200,000		UDR, Inc	3.500		07/01/27		200,457
	200,000		UDR, Inc	3.500		01/15/28		199,463
	600,000		UDR, Inc	3.200		01/15/30		582,745
	1,000,000		UDR, Inc	3.000		08/15/31		948,986
	750,000		UDR, Inc	2.100		08/01/32		646,377
	500,000		UDR, Inc	1.900		03/15/33		417,688
	1,000,000		UDR, Inc	2.100		06/15/33		846,136
	300,000		UDR, Inc	3.100		11/01/34		276,529
	300,000		Ventas Realty LP	3.500		04/15/24		300,907
	750,000		Ventas Realty LP	2.650		01/15/25		735,811
	120,000		Ventas Realty LP	4.125		01/15/26		122,737
	200,000		Ventas Realty LP	3.250		10/15/26		198,008
	1,000,000		Ventas Realty LP	4.000		03/01/28		1,021,669
	525,000		Ventas Realty LP	4.400		01/15/29		552,200
	350,000		Ventas Realty LP	3.000		01/15/30		334,940
	500,000		Ventas Realty LP	4.750		11/15/30		532,095
	1,025,000		Ventas Realty LP	2.500		09/01/31		924,869
	300,000		Ventas Realty LP	4.375		02/01/45		302,050
	300,000		Ventas Realty LP	4.875		04/15/49		329,083
	200,000		Vornado Realty LP	3.500		01/15/25		199,197
	275,000		Vornado Realty LP	2.150		06/01/26		257,018
	275,000		Vornado Realty LP	3.400		06/01/31		258,659
	2,000,000		Welltower, Inc	3.625		03/15/24		2,020,957
	1,700,000		Welltower, Inc	4.000		06/01/25		1,726,148
	600,000		Welltower, Inc	4.250		04/01/26		616,590
	500,000		Welltower, Inc	2.700		02/15/27		488,929
	600,000		Welltower, Inc	4.250		04/15/28		622,076
	1,000,000		Welltower, Inc	2.050		01/15/29		910,000
	500,000		Welltower, Inc	4.125		03/15/29		516,446
	425,000		Welltower, Inc	3.100		01/15/30		409,183
	400,000		Welltower, Inc	2.750		01/15/31		372,701
	1,000,000		Welltower, Inc	2.800		06/01/31		931,931
	500,000		Welltower, Inc	2.750		01/15/32		459,840
	150,000		Welltower, Inc	3.850		06/15/32		151,047
	300,000		Welltower, Inc	4.950		09/01/48		336,773
	500,000		Weyerhaeuser Co	4.000		11/15/29		514,169
	500,000		Weyerhaeuser Co	4.000		04/15/30		514,885
	304,000		Weyerhaeuser Co	7.375		03/15/32		387,546
	300,000		Weyerhaeuser Co	3.375		03/09/33		292,179
	375,000		Weyerhaeuser Co	4.000		03/09/52		374,254
	200,000		WP Carey, Inc	4.600		04/01/24		205,132
	347,000		WP Carey, Inc	4.000		02/01/25		354,383
	1,000,000		WP Carey, Inc	3.850		07/15/29		1,011,411
	750,000		WP Carey, Inc	2.400		02/01/31		675,892

74

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	500,000		WP Carey, Inc	2.450	%	02/01/32	$	441,731
	1,000,000		WP Carey, Inc	2.250		04/01/33		854,173
			TOTAL REAL ESTATE					219,762,852
RETAILING - 0.7%
	100,000		Advance Auto Parts, Inc	1.750		10/01/27		90,034
	500,000		Advance Auto Parts, Inc	3.900		04/15/30		498,279
	1,000,000		Advance Auto Parts, Inc	3.500		03/15/32		959,456
	1,200,000	e	Alibaba Group Holding Ltd	2.800		06/06/23		1,195,654
	1,250,000		Alibaba Group Holding Ltd	3.600		11/28/24		1,256,096
	1,325,000		Alibaba Group Holding Ltd	3.400		12/06/27		1,300,051
	1,250,000	e	Alibaba Group Holding Ltd	2.125		02/09/31		1,086,304
	500,000		Alibaba Group Holding Ltd	4.500		11/28/34		499,664
	750,000		Alibaba Group Holding Ltd	4.000		12/06/37		703,476
	1,250,000		Alibaba Group Holding Ltd	2.700		02/09/41		951,354
	1,500,000		Alibaba Group Holding Ltd	4.200		12/06/47		1,388,220
	1,250,000		Alibaba Group Holding Ltd	3.150		02/09/51		966,640
	750,000		Alibaba Group Holding Ltd	4.400		12/06/57		705,404
	1,250,000		Alibaba Group Holding Ltd	3.250		02/09/61		938,290
	200,000		Allegion US Holding Co, Inc	3.200		10/01/24		197,566
	200,000		Allegion US Holding Co, Inc	3.550		10/01/27		196,499
	1,125,000		Amazon.com, Inc	2.800		08/22/24		1,134,269
	425,000		Amazon.com, Inc	3.800		12/05/24		437,936
	1,000,000		Amazon.com, Inc	0.800		06/03/25		945,752
	325,000		Amazon.com, Inc	5.200		12/03/25		350,226
	5,000,000		Amazon.com, Inc	1.000		05/12/26		4,692,087
	1,000,000		Amazon.com, Inc	1.200		06/03/27		922,458
	2,700,000		Amazon.com, Inc	3.150		08/22/27		2,734,628
	3,000,000		Amazon.com, Inc	1.650		05/12/28		2,789,959
	1,000,000		Amazon.com, Inc	1.500		06/03/30		894,807
	3,000,000		Amazon.com, Inc	2.100		05/12/31		2,786,893
	1,800,000		Amazon.com, Inc	4.800		12/05/34		2,068,506
	2,625,000		Amazon.com, Inc	3.875		08/22/37		2,778,403
	2,500,000		Amazon.com, Inc	2.875		05/12/41		2,307,289
	775,000		Amazon.com, Inc	4.950		12/05/44		940,694
	2,875,000		Amazon.com, Inc	4.050		08/22/47		3,127,384
	1,900,000		Amazon.com, Inc	2.500		06/03/50		1,586,236
	2,500,000		Amazon.com, Inc	3.100		05/12/51		2,346,228
	1,900,000		Amazon.com, Inc	4.250		08/22/57		2,147,695
	2,500,000		Amazon.com, Inc	3.250		05/12/61		2,344,745
	200,000		AutoNation, Inc	3.500		11/15/24		199,291
	244,000		AutoNation, Inc	4.500		10/01/25		248,397
	200,000		AutoNation, Inc	3.800		11/15/27		200,077
	1,500,000		AutoNation, Inc	1.950		08/01/28		1,342,494
	100,000		AutoNation, Inc	4.750		06/01/30		104,228
	425,000		AutoNation, Inc	2.400		08/01/31		370,017
	900,000		AutoNation, Inc	3.850		03/01/32		871,251
	150,000		AutoZone, Inc	3.125		07/15/23		151,091
	250,000		AutoZone, Inc	3.125		04/18/24		250,593
	200,000		AutoZone, Inc	3.250		04/15/25		199,725
	500,000		AutoZone, Inc	3.625		04/15/25		505,308
	100,000		AutoZone, Inc	3.125		04/21/26		98,402
	650,000		AutoZone, Inc	3.750		06/01/27		664,320
	200,000		AutoZone, Inc	3.750		04/18/29		200,628

75

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	500,000		AutoZone, Inc	4.000	%	04/15/30	$	513,262
	600,000		AutoZone, Inc	1.650		01/15/31		511,444
	500,000		Best Buy Co, Inc	4.450		10/01/28		521,418
	500,000		Best Buy Co, Inc	1.950		10/01/30		437,722
	2,000,000		CDW LLC	2.670		12/01/26		1,885,050
	1,000,000		CDW LLC	3.276		12/01/28		941,900
	575,000		CDW LLC	3.569		12/01/31		532,709
	1,000,000		Chevron USA, Inc	0.426		08/11/23		977,587
	750,000		Chevron USA, Inc	3.900		11/15/24		772,440
	2,000,000		Chevron USA, Inc	0.687		08/12/25		1,866,741
	2,000,000		Chevron USA, Inc	1.018		08/12/27		1,817,611
	1,000,000		Chevron USA, Inc	3.250		10/15/29		1,015,817
	250,000		Chevron USA, Inc	2.343		08/12/50		202,410
	1,000,000		Dick’s Sporting Goods, Inc	3.150		01/15/32		916,725
	1,000,000		Dick’s Sporting Goods, Inc	4.100		01/15/52		853,446
	375,000		Dollar General Corp	3.250		04/15/23		377,699
	355,000		Dollar General Corp	4.150		11/01/25		366,862
	300,000		Dollar General Corp	3.875		04/15/27		308,665
	500,000		Dollar General Corp	4.125		05/01/28		515,157
	500,000		Dollar General Corp	3.500		04/03/30		497,378
	500,000		Dollar General Corp	4.125		04/03/50		498,750
	500,000		Dollar Tree, Inc	4.000		05/15/25		511,494
	500,000		Dollar Tree, Inc	4.200		05/15/28		516,877
	1,000,000		Dollar Tree, Inc	2.650		12/01/31		914,294
	1,000,000		Dollar Tree, Inc	3.375		12/01/51		859,986
	400,000		eBay, Inc	3.450		08/01/24		404,918
	1,000,000		eBay, Inc	1.400		05/10/26		930,946
	1,200,000		eBay, Inc	3.600		06/05/27		1,219,693
	1,200,000		eBay, Inc	2.700		03/11/30		1,127,654
	1,000,000		eBay, Inc	2.600		05/10/31		918,705
	200,000		eBay, Inc	4.000		07/15/42		196,603
	1,000,000		eBay, Inc	3.650		05/10/51		922,741
	1,500,000		Genuine Parts Co	1.875		11/01/30		1,297,352
	1,000,000	g	GSK Consumer Healthcare Capital UK plc	3.125		03/24/25		996,888
	550,000		Home Depot, Inc	3.750		02/15/24		562,025
	350,000		Home Depot, Inc	3.350		09/15/25		355,891
	1,925,000		Home Depot, Inc	3.000		04/01/26		1,940,383
	1,550,000		Home Depot, Inc	2.125		09/15/26		1,504,995
	2,000,000		Home Depot, Inc	2.875		04/15/27		1,992,486
	2,000,000		Home Depot, Inc	0.900		03/15/28		1,777,164
	1,000,000		Home Depot, Inc	1.500		09/15/28		909,054
	825,000		Home Depot, Inc	3.900		12/06/28		863,617
	2,333,000		Home Depot, Inc	2.950		06/15/29		2,313,157
	375,000		Home Depot, Inc	2.700		04/15/30		363,306
	2,000,000		Home Depot, Inc	1.375		03/15/31		1,721,257
	1,000,000		Home Depot, Inc	1.875		09/15/31		893,580
	1,000,000		Home Depot, Inc	3.250		04/15/32		1,000,395
	425,000		Home Depot, Inc	5.875		12/16/36		538,313
	150,000		Home Depot, Inc	5.950		04/01/41		193,724
	675,000		Home Depot, Inc	4.200		04/01/43		723,981
	450,000		Home Depot, Inc	4.875		02/15/44		522,860
	650,000		Home Depot, Inc	4.400		03/15/45		713,300
	725,000		Home Depot, Inc	4.250		04/01/46		792,995
	2,100,000		Home Depot, Inc	3.900		06/15/47		2,187,378
	2,000,000		Home Depot, Inc	4.500		12/06/48		2,246,930
	1,000,000		Home Depot, Inc	3.125		12/15/49		914,228

76

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	2,655,000		Home Depot, Inc	3.350	%	04/15/50	$	2,501,583
	3,000,000		Home Depot, Inc	2.375		03/15/51		2,405,448
	1,000,000		Home Depot, Inc	2.750		09/15/51		861,493
	500,000		Home Depot, Inc	3.625		04/15/52		496,157
	675,000		Home Depot, Inc	3.500		09/15/56		658,995
	500,000	e	JD.com, Inc	3.375		01/14/30		471,815
	500,000		JD.com, Inc	4.125		01/14/50		430,603
	750,000		Kohl’s Corp	3.375		05/01/31		723,808
	200,000		Kohl’s Corp	5.550		07/17/45		199,619
	300,000		Lowe’s Cos, Inc	3.875		09/15/23		305,049
	400,000		Lowe’s Cos, Inc	3.125		09/15/24		401,695
	1,100,000		Lowe’s Cos, Inc	3.375		09/15/25		1,110,917
	500,000		Lowe’s Cos, Inc	2.500		04/15/26		487,511
	1,000,000		Lowe’s Cos, Inc	3.350		04/01/27		1,005,847
	2,000,000		Lowe’s Cos, Inc	1.300		04/15/28		1,781,106
	1,500,000		Lowe’s Cos, Inc	1.700		09/15/28		1,357,549
	775,000		Lowe’s Cos, Inc	3.650		04/05/29		787,558
	306,000		Lowe’s Cos, Inc	4.500		04/15/30		327,445
	1,500,000		Lowe’s Cos, Inc	1.700		10/15/30		1,309,364
	800,000	e	Lowe’s Cos, Inc	2.625		04/01/31		749,851
	1,000,000		Lowe’s Cos, Inc	3.750		04/01/32		1,010,999
	700,000		Lowe’s Cos, Inc	2.800		09/15/41		599,551
	56,000		Lowe’s Cos, Inc	4.250		09/15/44		54,383
	1,075,000		Lowe’s Cos, Inc	3.700		04/15/46		1,030,047
	2,000,000		Lowe’s Cos, Inc	4.050		05/03/47		2,014,623
	1,425,000		Lowe’s Cos, Inc	4.550		04/05/49		1,528,572
	1,320,000		Lowe’s Cos, Inc	5.125		04/15/50		1,544,188
	450,000		Lowe’s Cos, Inc	3.000		10/15/50		382,838
	1,000,000		Lowe’s Cos, Inc	3.500		04/01/51		919,350
	500,000		Lowe’s Cos, Inc	4.250		04/01/52		517,167
	500,000		Lowe’s Cos, Inc	4.450		04/01/62		520,294
	1,000,000		O’Reilly Automotive, Inc	3.600		09/01/27		1,010,717
	300,000		O’Reilly Automotive, Inc	4.350		06/01/28		309,344
	500,000		O’Reilly Automotive, Inc	3.900		06/01/29		507,485
	200,000		O’Reilly Automotive, Inc	1.750		03/15/31		170,839
	300,000		Ross Stores, Inc	4.600		04/15/25		311,941
	500,000		Ross Stores, Inc	0.875		04/15/26		456,669
	55,000		Ross Stores, Inc	4.700		04/15/27		57,868
	500,000		Ross Stores, Inc	1.875		04/15/31		434,708
	350,000		Target Corp	3.500		07/01/24		357,823
	200,000		Target Corp	2.250		04/15/25		197,158
	1,700,000		Target Corp	2.500		04/15/26		1,689,401
	1,000,000	e	Target Corp	1.950		01/15/27		965,733
	1,500,000		Target Corp	3.375		04/15/29		1,548,837
	600,000		Target Corp	2.350		02/15/30		573,172
	5,000,000		Target Corp	2.650		09/15/30		4,859,899
	1,000,000		Target Corp	2.950		01/15/52		918,949
	300,000		TJX Cos, Inc	2.500		05/15/23		300,148
	525,000		TJX Cos, Inc	2.250		09/15/26		509,977
	2,750,000		TJX Cos, Inc	1.150		05/15/28		2,439,852
	500,000		TJX Cos, Inc	1.600		05/15/31		437,165
	650,000		Tractor Supply Co	1.750		11/01/30		558,330
			TOTAL RETAILING					154,966,407

77

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.5%
$	200,000		Altera Corp	4.100	%	11/15/23	$	204,984
	250,000		Analog Devices, Inc	2.950		04/01/25		250,470
	1,175,000		Analog Devices, Inc	3.500		12/05/26		1,201,712
	1,000,000		Analog Devices, Inc	1.700		10/01/28		922,211
	600,000		Analog Devices, Inc	2.100		10/01/31		553,350
	300,000		Analog Devices, Inc	2.800		10/01/41		269,176
	1,000,000		Analog Devices, Inc	2.950		10/01/51		904,632
	1,000,000		Applied Materials, Inc	3.300		04/01/27		1,013,536
	950,000		Applied Materials, Inc	1.750		06/01/30		859,954
	250,000		Applied Materials, Inc	5.100		10/01/35		288,787
	100,000		Applied Materials, Inc	5.850		06/15/41		129,119
	1,200,000		Applied Materials, Inc	4.350		04/01/47		1,353,347
	775,000		Applied Materials, Inc	2.750		06/01/50		689,183
	2,000,000	g	Broadcom, Inc	1.950		02/15/28		1,802,171
	2,873,000		Broadcom, Inc	4.110		09/15/28		2,907,127
	300,000	g,h	Broadcom, Inc	4.000		04/15/29		299,853
	807,000		Broadcom, Inc	4.150		11/15/30		817,886
	1,500,000	g	Broadcom, Inc	2.450		02/15/31		1,338,117
	625,000	g,h	Broadcom, Inc	4.150		04/15/32		623,631
	1,500,000		Broadcom, Inc	4.300		11/15/32		1,522,150
	1,500,000	g	Broadcom, Inc	2.600		02/15/33		1,302,245
	5,883,000	g	Broadcom, Inc	3.419		04/15/33		5,490,731
	2,522,000	g	Broadcom, Inc	3.469		04/15/34		2,335,703
	6,327,000	g	Broadcom, Inc	3.137		11/15/35		5,574,673
	4,043,000	g	Broadcom, Inc	3.187		11/15/36		3,509,684
	850,000	g	Broadcom, Inc	3.500		02/15/41		756,949
	3,000,000	g	Broadcom, Inc	3.750		02/15/51		2,686,320
	2,050,000		Intel Corp	3.700		07/29/25		2,099,574
	2,480,000		Intel Corp	2.600		05/19/26		2,459,773
	1,500,000		Intel Corp	1.600		08/12/28		1,367,093
	2,500,000		Intel Corp	2.450		11/15/29		2,383,570
	1,500,000		Intel Corp	3.900		03/25/30		1,576,821
	2,000,000	e	Intel Corp	2.000		08/12/31		1,814,048
	250,000		Intel Corp	4.000		12/15/32		268,722
	1,000,000		Intel Corp	2.800		08/12/41		882,901
	200,000		Intel Corp	4.100		05/19/46		212,867
	675,000		Intel Corp	4.100		05/11/47		711,480
	3,328,000		Intel Corp	3.734		12/08/47		3,323,859
	2,500,000		Intel Corp	3.250		11/15/49		2,306,100
	3,175,000		Intel Corp	4.750		03/25/50		3,697,397
	1,000,000		Intel Corp	3.050		08/12/51		889,095
	1,000,000		Intel Corp	3.100		02/15/60		859,304
	1,000,000		KLA Corp	3.300		03/01/50		941,920
	200,000		Lam Research Corp	3.800		03/15/25		204,653
	150,000		Lam Research Corp	3.750		03/15/26		154,132
	275,000		Lam Research Corp	4.000		03/15/29		288,236
	125,000		Lam Research Corp	1.900		06/15/30		113,279
	825,000		Lam Research Corp	4.875		03/15/49		982,728
	200,000		Lam Research Corp	2.875		06/15/50		176,910
	1,200,000		Lam Research Corp	3.125		06/15/60		1,063,627
	400,000		Maxim Integrated Products, Inc	3.450		06/15/27		398,399
	1,000,000		Microchip Technology, Inc	4.333		06/01/23		1,015,704
	425,000		Micron Technology, Inc	4.975		02/06/26		445,132
	750,000		Micron Technology, Inc	4.185		02/15/27		769,631
	400,000		Micron Technology, Inc	5.327		02/06/29		432,395

78

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	500,000		Micron Technology, Inc	4.663	%	02/15/30	$	522,565
	1,000,000		Micron Technology, Inc	2.703		04/15/32		905,310
	750,000		Micron Technology, Inc	3.366		11/01/41		670,005
	750,000		Micron Technology, Inc	3.477		11/01/51		652,020
	800,000		NVIDIA Corp	3.200		09/16/26		813,330
	1,000,000		NVIDIA Corp	1.550		06/15/28		918,244
	750,000		NVIDIA Corp	2.850		04/01/30		737,910
	1,500,000		NVIDIA Corp	2.000		06/15/31		1,368,385
	1,000,000		NVIDIA Corp	3.500		04/01/40		1,007,289
	2,067,000		NVIDIA Corp	3.500		04/01/50		2,088,931
	475,000	g	NXP BV	4.875		03/01/24		488,079
	300,000	g	NXP BV	2.700		05/01/25		290,775
	425,000	g	NXP BV	5.350		03/01/26		447,330
	750,000	g	NXP BV	3.875		06/18/26		752,410
	300,000	g	NXP BV	3.150		05/01/27		291,060
	400,000	g	NXP BV	5.550		12/01/28		438,448
	750,000	g	NXP BV	4.300		06/18/29		774,224
	675,000	g	NXP BV	3.400		05/01/30		654,248
	2,000,000	g	NXP BV	2.500		05/11/31		1,796,089
	1,000,000	g	NXP BV	2.650		02/15/32		901,283
	1,375,000	g	NXP BV	3.250		05/11/41		1,212,505
	325,000	g	NXP BV	3.125		02/15/42		279,789
	500,000	g	NXP BV	3.250		11/30/51		422,876
	2,800,000		QUALCOMM, Inc	3.250		05/20/27		2,836,292
	1,339,000		QUALCOMM, Inc	1.300		05/20/28		1,206,701
	1,000,000		QUALCOMM, Inc	2.150		05/20/30		930,038
	2,384,000		QUALCOMM, Inc	1.650		05/20/32		2,067,011
	750,000		QUALCOMM, Inc	4.650		05/20/35		836,748
	650,000		QUALCOMM, Inc	4.800		05/20/45		754,039
	1,525,000		QUALCOMM, Inc	4.300		05/20/47		1,716,057
	300,000		Skyworks Solutions, Inc	1.800		06/01/26		278,624
	1,000,000		Skyworks Solutions, Inc	3.000		06/01/31		890,244
	100,000		Texas Instruments, Inc	2.625		05/15/24		100,345
	325,000		Texas Instruments, Inc	1.375		03/12/25		312,745
	1,000,000		Texas Instruments, Inc	1.125		09/15/26		934,119
	350,000		Texas Instruments, Inc	2.900		11/03/27		350,991
	1,000,000		Texas Instruments, Inc	2.250		09/04/29		950,756
	325,000		Texas Instruments, Inc	1.750		05/04/30		295,733
	1,000,000		Texas Instruments, Inc	1.900		09/15/31		909,047
	350,000		Texas Instruments, Inc	3.875		03/15/39		371,926
	2,700,000		Texas Instruments, Inc	4.150		05/15/48		2,998,359
	1,000,000	e	Texas Instruments, Inc	2.700		09/15/51		887,956
	475,000		Xilinx, Inc	2.950		06/01/24		475,898
	1,000,000		Xilinx, Inc	2.375		06/01/30		929,083
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT					110,912,868
SOFTWARE & SERVICES - 1.0%
	775,000		Adobe Systems, Inc	3.250		02/01/25		785,251
	500,000		Adobe, Inc	1.900		02/01/25		488,786
	1,000,000		Adobe, Inc	2.150		02/01/27		970,386
	925,000		Adobe, Inc	2.300		02/01/30		875,168
	1,000,000		Amdocs Ltd	2.538		06/15/30		908,005
	250,000		Autodesk, Inc	4.375		06/15/25		256,507
	450,000		Autodesk, Inc	3.500		06/15/27		452,325
	750,000		Autodesk, Inc	2.850		01/15/30		705,559

79

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	1,000,000		Autodesk, Inc	2.400	%	12/15/31	$	891,589
	700,000		Automatic Data Processing, Inc	3.375		09/15/25		715,143
	400,000		Automatic Data Processing, Inc	1.700		05/15/28		371,002
	900,000		Automatic Data Processing, Inc	1.250		09/01/30		781,428
	350,000		Broadridge Financial Solutions, Inc	3.400		06/27/26		352,894
	1,000,000		Broadridge Financial Solutions, Inc	2.900		12/01/29		947,010
	2,000,000		Broadridge Financial Solutions, Inc	2.600		05/01/31		1,810,886
	1,000,000	g	CGI, Inc	1.450		09/14/26		918,647
	1,000,000	g	CGI, Inc	2.300		09/14/31		872,197
	1,500,000		Citrix Systems, Inc	1.250		03/01/26		1,458,326
	500,000		Citrix Systems, Inc	4.500		12/01/27		510,950
	750,000		Citrix Systems, Inc	3.300		03/01/30		741,838
	1,000,000		FactSet Research Systems, Inc	2.900		03/01/27		971,733
	1,000,000		FactSet Research Systems, Inc	3.450		03/01/32		965,968
	3,000,000		Fidelity National Information Services, Inc	0.600		03/01/24		2,872,065
	1,500,000		Fidelity National Information Services, Inc	1.150		03/01/26		1,376,645
	1,500,000		Fidelity National Information Services, Inc	1.650		03/01/28		1,342,127
	825,000		Fidelity National Information Services, Inc	2.250		03/01/31		729,515
	425,000		Fidelity National Information Services, Inc	3.100		03/01/41		367,713
	300,000		Fidelity National Information Services, Inc	4.500		08/15/46		310,645
	125,000		Fiserv, Inc	3.800		10/01/23		126,940
	2,000,000		Fiserv, Inc	2.750		07/01/24		1,993,843
	1,675,000		Fiserv, Inc	3.850		06/01/25		1,692,062
	900,000		Fiserv, Inc	3.200		07/01/26		895,329
	1,125,000		Fiserv, Inc	3.500		07/01/29		1,107,329
	2,175,000		Fiserv, Inc	2.650		06/01/30		2,007,398
	2,300,000		Fiserv, Inc	4.400		07/01/49		2,374,859
	1,000,000		Fortinet, Inc	1.000		03/15/26		909,986
	1,000,000		Fortinet, Inc	2.200		03/15/31		882,720
	500,000		Genpact Luxembourg Sarl	3.375		12/01/24		498,252
	1,000,000		Genpact Luxembourg Sarl	1.750		04/10/26		926,961
	125,000		Global Payments, Inc	3.750		06/01/23		126,121
	500,000		Global Payments, Inc	4.000		06/01/23		506,289
	575,000		Global Payments, Inc	2.650		02/15/25		562,622
	2,500,000		Global Payments, Inc	1.200		03/01/26		2,303,177
	300,000		Global Payments, Inc	4.800		04/01/26		314,932
	1,000,000		Global Payments, Inc	2.150		01/15/27		938,575
	500,000		Global Payments, Inc	4.450		06/01/28		514,833
	475,000		Global Payments, Inc	3.200		08/15/29		451,256
	325,000		Global Payments, Inc	2.900		05/15/30		299,956
	1,000,000		Global Payments, Inc	2.900		11/15/31		911,067
	1,250,000		Global Payments, Inc	4.150		08/15/49		1,208,011
	550,000		International Business Machines Corp	3.375		08/01/23		557,503
	600,000		International Business Machines Corp	3.625		02/12/24		610,850
	3,000,000		International Business Machines Corp	3.000		05/15/24		3,019,842
	350,000		International Business Machines Corp	3.450		02/19/26		355,737
	2,500,000		International Business Machines Corp	3.300		05/15/26		2,526,178
	1,000,000		International Business Machines Corp	1.700		05/15/27		936,190
	2,675,000		International Business Machines Corp	3.500		05/15/29		2,727,593
	2,900,000		International Business Machines Corp	1.950		05/15/30		2,638,566
	1,850,000		International Business Machines Corp	4.150		05/15/39		1,941,034
	19,000		International Business Machines Corp	5.600		11/30/39		23,053
	450,000		International Business Machines Corp	2.850		05/15/40		398,656
	1,060,000		International Business Machines Corp	4.000		06/20/42		1,084,829
	1,500,000		International Business Machines Corp	4.700		02/19/46		1,685,509

80

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	2,500,000		International Business Machines Corp	4.250	%	05/15/49	$	2,662,432
	975,000		International Business Machines Corp	2.950		05/15/50		852,662
	300,000		Intuit, Inc	0.950		07/15/25		281,159
	350,000		Intuit, Inc	1.350		07/15/27		318,572
	350,000		Intuit, Inc	1.650		07/15/30		308,802
	1,000,000		Mastercard, Inc	3.375		04/01/24		1,017,823
	1,000,000		Mastercard, Inc	2.000		03/03/25		983,990
	425,000		Mastercard, Inc	2.950		11/21/26		427,829
	750,000		Mastercard, Inc	3.500		02/26/28		771,871
	1,000,000		Mastercard, Inc	2.950		06/01/29		996,372
	625,000	e	Mastercard, Inc	1.900		03/15/31		578,211
	1,500,000		Mastercard, Inc	2.000		11/18/31		1,367,488
	200,000		Mastercard, Inc	3.800		11/21/46		209,032
	300,000		Mastercard, Inc	3.950		02/26/48		320,439
	1,000,000		Mastercard, Inc	3.650		06/01/49		1,033,195
	1,350,000		Mastercard, Inc	3.850		03/26/50		1,426,274
	850,000		Mastercard, Inc	2.950		03/15/51		777,695
	1,450,000		Microsoft Corp	2.000		08/08/23		1,454,469
	800,000		Microsoft Corp	3.625		12/15/23		821,655
	975,000		Microsoft Corp	2.700		02/12/25		981,293
	1,075,000		Microsoft Corp	3.125		11/03/25		1,093,658
	2,925,000		Microsoft Corp	2.400		08/08/26		2,900,515
	8,739,000		Microsoft Corp	3.300		02/06/27		8,964,156
	150,000		Microsoft Corp	3.500		02/12/35		157,115
	1,072,000		Microsoft Corp	3.450		08/08/36		1,114,980
	8,038,000		Microsoft Corp	2.525		06/01/50		6,940,773
	6,265,000		Microsoft Corp	2.921		03/17/52		5,879,008
	7,374,000		Microsoft Corp	2.675		06/01/60		6,358,750
	1,073,000		Microsoft Corp	3.041		03/17/62		1,002,020
	800,000		Oracle Corp	2.625		02/15/23		801,489
	225,000		Oracle Corp	3.625		07/15/23		228,020
	2,375,000		Oracle Corp	2.400		09/15/23		2,366,170
	1,225,000		Oracle Corp	3.400		07/08/24		1,233,753
	900,000		Oracle Corp	2.950		11/15/24		894,583
	6,500,000		Oracle Corp	2.500		04/01/25		6,348,599
	1,650,000		Oracle Corp	2.950		05/15/25		1,630,801
	3,000,000		Oracle Corp	1.650		03/25/26		2,797,516
	2,884,000		Oracle Corp	2.650		07/15/26		2,765,443
	1,000,000		Oracle Corp	2.800		04/01/27		957,113
	3,000,000		Oracle Corp	2.300		03/25/28		2,740,121
	1,000,000		Oracle Corp	2.950		04/01/30		922,563
	400,000		Oracle Corp	3.250		05/15/30		379,105
	3,000,000		Oracle Corp	2.875		03/25/31		2,735,372
	2,497,000		Oracle Corp	4.300		07/08/34		2,464,149
	650,000		Oracle Corp	3.900		05/15/35		611,249
	1,225,000		Oracle Corp	3.850		07/15/36		1,127,557
	4,000,000		Oracle Corp	3.800		11/15/37		3,617,539
	100,000		Oracle Corp	6.500		04/15/38		118,704
	470,000		Oracle Corp	6.125		07/08/39		536,289
	675,000		Oracle Corp	3.600		04/01/40		585,553
	325,000		Oracle Corp	5.375		07/15/40		342,916
	2,000,000		Oracle Corp	3.650		03/25/41		1,746,872
	500,000		Oracle Corp	4.500		07/08/44		473,329
	325,000		Oracle Corp	4.125		05/15/45		291,857
	2,025,000		Oracle Corp	4.000		07/15/46		1,796,869
	3,100,000		Oracle Corp	4.000		11/15/47		2,741,546

81

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	7,350,000		Oracle Corp	3.600	%	04/01/50	$	6,095,813
	2,000,000		Oracle Corp	3.950		03/25/51		1,748,430
	500,000		Oracle Corp	4.375		05/15/55		451,459
	1,500,000		Oracle Corp	3.850		04/01/60		1,231,001
	2,000,000		Oracle Corp	4.100		03/25/61		1,704,920
	1,000,000		PayPal Holdings, Inc	2.400		10/01/24		995,465
	1,000,000		PayPal Holdings, Inc	1.650		06/01/25		961,508
	1,000,000		PayPal Holdings, Inc	2.850		10/01/29		978,886
	500,000		PayPal Holdings, Inc	2.300		06/01/30		465,436
	1,000,000	e	PayPal Holdings, Inc	3.250		06/01/50		911,584
	925,000		salesforce.com, Inc	3.700		04/11/28		955,697
	2,000,000		salesforce.com, Inc	1.500		07/15/28		1,839,813
	1,250,000		salesforce.com, Inc	1.950		07/15/31		1,143,563
	1,075,000		salesforce.com, Inc	2.700		07/15/41		951,367
	2,000,000		salesforce.com, Inc	2.900		07/15/51		1,775,821
	2,000,000		salesforce.com, Inc	3.050		07/15/61		1,754,394
	1,000,000		ServiceNow, Inc	1.400		09/01/30		849,875
	750,000		VeriSign, Inc	2.700		06/15/31		678,750
	3,725,000		Visa, Inc	3.150		12/14/25		3,767,807
	2,000,000		Visa, Inc	1.900		04/15/27		1,921,980
	1,175,000		Visa, Inc	0.750		08/15/27		1,064,252
	700,000		Visa, Inc	2.750		09/15/27		697,728
	475,000		Visa, Inc	2.050		04/15/30		443,196
	1,500,000		Visa, Inc	1.100		02/15/31		1,286,596
	250,000		Visa, Inc	4.150		12/14/35		271,855
	1,500,000		Visa, Inc	2.700		04/15/40		1,363,755
	2,325,000		Visa, Inc	4.300		12/14/45		2,608,998
	1,125,000		Visa, Inc	3.650		09/15/47		1,161,754
	750,000		Visa, Inc	2.000		08/15/50		581,202
	500,000		VMware, Inc	4.500		05/15/25		515,047
	1,500,000		VMware, Inc	1.400		08/15/26		1,377,076
	725,000		VMware, Inc	3.900		08/21/27		734,370
	1,500,000		VMware, Inc	1.800		08/15/28		1,330,360
	1,000,000		VMware, Inc	4.700		05/15/30		1,057,595
	1,150,000		VMware, Inc	2.200		08/15/31		1,012,498
	200,000		Western Union Co	4.250		06/09/23		203,106
	500,000		Western Union Co	2.850		01/10/25		494,240
	1,000,000		Western Union Co	1.350		03/15/26		921,636
	1,000,000		Western Union Co	2.750		03/15/31		909,671
	1,500,000		Workday, Inc	3.500		04/01/27		1,499,610
	1,500,000		Workday, Inc	3.700		04/01/29		1,503,351
	1,500,000		Workday, Inc	3.800		04/01/32		1,497,146
			TOTAL SOFTWARE & SERVICES					213,784,292
TECHNOLOGY HARDWARE & EQUIPMENT - 0.7%
	200,000		Amphenol Corp	3.200		04/01/24		201,078
	250,000		Amphenol Corp	2.050		03/01/25		243,202
	450,000		Amphenol Corp	4.350		06/01/29		474,258
	1,000,000		Amphenol Corp	2.800		02/15/30		948,112
	2,000,000		Amphenol Corp	2.200		09/15/31		1,778,588
	1,150,000		Apple, Inc	3.000		02/09/24		1,163,944
	2,725,000		Apple, Inc	3.450		05/06/24		2,783,609
	1,075,000		Apple, Inc	2.850		05/11/24		1,083,853
	1,850,000		Apple, Inc	2.750		01/13/25		1,852,978
	1,075,000		Apple, Inc	2.500		02/09/25		1,072,373
	2,000,000		Apple, Inc	1.125		05/11/25		1,909,626

82

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	1,125,000	Apple, Inc	3.200	%	05/13/25	$	1,142,325
	2,000,000	Apple, Inc	0.550		08/20/25		1,863,468
	3,000,000	Apple, Inc	0.700		02/08/26		2,793,910
	2,825,000	Apple, Inc	3.250		02/23/26		2,877,258
	1,425,000	Apple, Inc	2.450		08/04/26		1,407,548
	3,250,000	Apple, Inc	2.050		09/11/26		3,154,589
	1,075,000	Apple, Inc	3.350		02/09/27		1,097,768
	275,000	Apple, Inc	3.200		05/11/27		279,644
	3,675,000	Apple, Inc	3.000		11/13/27		3,697,674
	3,000,000	Apple, Inc	1.200		02/08/28		2,731,277
	2,500,000	Apple, Inc	1.400		08/05/28		2,285,855
	1,000,000	Apple, Inc	2.200		09/11/29		953,059
	2,950,000	Apple, Inc	1.650		05/11/30		2,673,831
	3,000,000	Apple, Inc	1.250		08/20/30		2,621,299
	3,000,000	Apple, Inc	1.650		02/08/31		2,699,831
	2,500,000	Apple, Inc	1.700		08/05/31		2,242,093
	1,600,000	Apple, Inc	4.500		02/23/36		1,829,255
	2,000,000	Apple, Inc	2.375		02/08/41		1,742,176
	350,000	Apple, Inc	3.850		05/04/43		368,144
	750,000	Apple, Inc	4.450		05/06/44		849,559
	1,350,000	Apple, Inc	3.450		02/09/45		1,341,036
	1,000,000	Apple, Inc	4.375		05/13/45		1,130,193
	1,775,000	Apple, Inc	4.650		02/23/46		2,100,280
	900,000	Apple, Inc	3.850		08/04/46		950,269
	1,175,000	Apple, Inc	4.250		02/09/47		1,316,791
	900,000	Apple, Inc	3.750		09/12/47		935,740
	2,850,000	Apple, Inc	3.750		11/13/47		2,956,462
	3,000,000	Apple, Inc	2.950		09/11/49		2,753,081
	3,350,000	Apple, Inc	2.650		05/11/50		2,917,894
	1,375,000	Apple, Inc	2.400		08/20/50		1,134,429
	2,000,000	Apple, Inc	2.650		02/08/51		1,725,167
	1,000,000	Apple, Inc	2.700		08/05/51		869,297
	25,000	Apple, Inc	2.550		08/20/60		20,488
	2,000,000	Apple, Inc	2.800		02/08/61		1,719,630
	1,000,000	Apple, Inc	2.850		08/05/61		862,455
	425,000	Arrow Electronics, Inc	3.250		09/08/24		425,768
	200,000	Arrow Electronics, Inc	4.000		04/01/25		202,992
	425,000	Arrow Electronics, Inc	3.875		01/12/28		426,420
	1,500,000	Arrow Electronics, Inc	2.950		02/15/32		1,377,550
	200,000	Avnet, Inc	4.625		04/15/26		205,320
	1,000,000	Avnet, Inc	3.000		05/15/31		917,951
	500,000	Cisco Systems, Inc	2.600		02/28/23		503,650
	1,100,000	Cisco Systems, Inc	3.625		03/04/24		1,125,826
	400,000	Cisco Systems, Inc	3.500		06/15/25		408,962
	500,000	Cisco Systems, Inc	2.950		02/28/26		503,753
	3,000,000	Cisco Systems, Inc	2.500		09/20/26		2,972,246
	1,000,000	Cisco Systems, Inc	5.900		02/15/39		1,304,329
	1,175,000	Cisco Systems, Inc	5.500		01/15/40		1,485,406
	200,000	Corning, Inc	4.700		03/15/37		211,987
	100,000	Corning, Inc	5.750		08/15/40		122,578
	200,000	Corning, Inc	4.750		03/15/42		216,185
	300,000	Corning, Inc	5.350		11/15/48		354,680
	500,000	Corning, Inc	3.900		11/15/49		482,635
	825,000	Corning, Inc	4.375		11/15/57		833,755
	200,000	Corning, Inc	5.850		11/15/68		242,010

83

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	1,000,000		Corning, Inc	5.450	%	11/15/79	$	1,105,226
	1,107,000		Dell International LLC	5.450		06/15/23		1,140,368
	875,000		Dell International LLC	4.000		07/15/24		893,832
	2,925,000		Dell International LLC	6.020		06/15/26		3,168,444
	1,050,000		Dell International LLC	4.900		10/01/26		1,101,339
	2,900,000		Dell International LLC	5.300		10/01/29		3,158,824
	608,000		Dell International LLC	8.100		07/15/36		799,513
	2,000,000	g	Dell International LLC	3.375		12/15/41		1,680,989
	377,000		Dell International LLC	8.350		07/15/46		550,944
	2,000,000	g	Dell International LLC	3.450		12/15/51		1,624,779
	800,000		Flex Ltd	4.750		06/15/25		825,450
	500,000		Flex Ltd	3.750		02/01/26		499,939
	600,000		Flex Ltd	4.875		06/15/29		624,222
	1,000,000		Flex Ltd	4.875		05/12/30		1,044,534
	1,000,000		FLIR Systems, Inc	2.500		08/01/30		910,822
	1,000,000		Hewlett Packard Enterprise Co	2.250		04/01/23		999,050
	500,000		Hewlett Packard Enterprise Co	4.450		10/02/23		512,106
	1,500,000		Hewlett Packard Enterprise Co	1.450		04/01/24		1,455,766
	3,000,000		Hewlett Packard Enterprise Co	4.900		10/15/25		3,141,383
	225,000		Hewlett Packard Enterprise Co	6.200		10/15/35		258,740
	1,175,000		Hewlett Packard Enterprise Co	6.350		10/15/45		1,383,440
	1,000,000		HP, Inc	2.200		06/17/25		964,428
	1,000,000		HP, Inc	1.450		06/17/26		919,005
	1,000,000		HP, Inc	3.000		06/17/27		972,843
	1,000,000		HP, Inc	4.000		04/15/29		996,268
	1,000,000		HP, Inc	3.400		06/17/30		958,238
	1,000,000		HP, Inc	2.650		06/17/31		894,701
	500,000		HP, Inc	4.200		04/15/32		498,285
	975,000		HP, Inc	6.000		09/15/41		1,136,283
	1,500,000		International Business Machines Corp	2.200		02/09/27		1,448,641
	1,500,000		International Business Machines Corp	2.720		02/09/32		1,424,373
	1,500,000		International Business Machines Corp	3.430		02/09/52		1,428,977
	1,000,000		Jabil, Inc	1.700		04/15/26		925,726
	100,000		Jabil, Inc	3.950		01/12/28		100,015
	750,000		Jabil, Inc	3.600		01/15/30		726,581
	550,000		Jabil, Inc	3.000		01/15/31		503,826
	1,500,000		Juniper Networks, Inc	1.200		12/10/25		1,392,879
	750,000		Juniper Networks, Inc	3.750		08/15/29		748,377
	1,500,000		Juniper Networks, Inc	2.000		12/10/30		1,297,439
	200,000		Keysight Technologies, Inc	4.550		10/30/24		205,510
	600,000		Keysight Technologies, Inc	4.600		04/06/27		628,785
	500,000		Keysight Technologies, Inc	3.000		10/30/29		476,686
	182,000		Motorola Solutions, Inc	4.000		09/01/24		184,841
	450,000		Motorola Solutions, Inc	4.600		02/23/28		462,673
	500,000		Motorola Solutions, Inc	4.600		05/23/29		519,941
	600,000		Motorola Solutions, Inc	2.300		11/15/30		525,996
	2,250,000		Motorola Solutions, Inc	2.750		05/24/31		2,035,758
	200,000		Motorola Solutions, Inc	5.500		09/01/44		219,918
	200,000		NetApp, Inc	3.300		09/29/24		200,834
	500,000		NetApp, Inc	1.875		06/22/25		478,103
	500,000		NetApp, Inc	2.375		06/22/27		476,473
	750,000		NetApp, Inc	2.700		06/22/30		692,021
	1,000,000	g	SYNNEX Corp	1.750		08/09/26		915,874
	1,000,000	g	SYNNEX Corp	2.375		08/09/28		900,070
	1,000,000	g	SYNNEX Corp	2.650		08/09/31		858,743

84

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	200,000		Tyco Electronics Group S.A.	3.450	%	08/01/24	$	201,964
	100,000		Tyco Electronics Group S.A.	3.700		02/15/26		102,040
	1,150,000		Tyco Electronics Group S.A.	3.125		08/15/27		1,145,493
	900,000		Tyco Electronics Group S.A.	2.500		02/04/32		841,440
	1,000,000		Western Digital Corp	2.850		02/01/29		913,590
	1,000,000		Western Digital Corp	3.100		02/01/32		895,370
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT					147,978,117
TELECOMMUNICATION SERVICES - 1.1%
	1,000,000		America Movil SAB de C.V.	3.625		04/22/29		1,005,817
	1,000,000		America Movil SAB de C.V.	2.875		05/07/30		955,310
	440,000		America Movil SAB de C.V.	6.125		03/30/40		548,403
	1,625,000		America Movil SAB de C.V.	4.375		07/16/42		1,697,375
	1,500,000		America Movil SAB de C.V.	4.375		04/22/49		1,601,205
	500,000		American Tower Corp	3.650		03/15/27		498,664
	500,000		American Tower Corp	4.050		03/15/32		501,187
	650,000		AT&T, Inc	4.050		12/15/23		664,151
	1,675,000		AT&T, Inc	4.450		04/01/24		1,723,832
	10,000,000		AT&T, Inc	1.700		03/25/26		9,466,857
	1,150,000		AT&T, Inc	1.650		02/01/28		1,047,774
	4,375,000		AT&T, Inc	4.350		03/01/29		4,629,706
	3,000,000		AT&T, Inc	2.250		02/01/32		2,660,155
	14,855,000		AT&T, Inc	2.550		12/01/33		13,197,841
	1,825,000		AT&T, Inc	4.500		05/15/35		1,933,315
	3,000,000		AT&T, Inc	3.500		06/01/41		2,762,160
	900,000		AT&T, Inc	4.900		06/15/42		971,053
	2,000,000		AT&T, Inc	3.100		02/01/43		1,726,577
	300,000		AT&T, Inc	4.650		06/01/44		312,537
	2,000,000		AT&T, Inc	3.650		06/01/51		1,819,948
	1,175,000		AT&T, Inc	3.300		02/01/52		1,007,201
	11,860,000		AT&T, Inc	3.500		09/15/53		10,406,486
	8,857,000		AT&T, Inc	3.550		09/15/55		7,811,575
	6,844,000		AT&T, Inc	3.800		12/01/57		6,244,055
	8,523,000		AT&T, Inc	3.650		09/15/59		7,474,096
	1,000,000		AT&T, Inc	3.850		06/01/60		895,113
	2,000,000		AT&T, Inc	3.500		02/01/61		1,699,934
	1,000,000		Bell Canada	3.650		03/17/51		953,193
	750,000		Bell Canada, Inc	4.464		04/01/48		814,261
	750,000		Bell Canada, Inc	4.300		07/29/49		790,986
	1,000,000		Bell Telephone Co of Canada or Bell Canada	2.150		02/15/32		889,913
	450,000		Bell Telephone Co of Canada or Bell Canada	3.200		02/15/52		395,760
	1,000,000		Bell Telephone Co of Canada or Bell Canada	3.650		08/15/52		955,847
	750,000		British Telecommunications plc	4.500		12/04/23		764,897
	750,000		British Telecommunications plc	5.125		12/04/28		785,138
	1,425,000		British Telecommunications plc	9.625		12/15/30		1,944,218
	2,690,000		Deutsche Telekom International Finance BV	8.750		06/15/30		3,605,778
	500,000		Equinix, Inc	3.900		04/15/32		497,370
	745,000		Orange S.A.	9.000		03/01/31		1,034,733
	900,000		Orange S.A.	5.375		01/13/42		1,034,266
	725,000		Orange S.A.	5.500		02/06/44		873,538
	200,000		Rogers Communications, Inc	4.100		10/01/23		203,029
	1,713,000		Rogers Communications, Inc	3.625		12/15/25		1,729,516
	200,000		Rogers Communications, Inc	2.900		11/15/26		196,766
	2,000,000	g	Rogers Communications, Inc	3.200		03/15/27		1,968,622
	1,500,000	g	Rogers Communications, Inc	3.800		03/15/32		1,488,385

85

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	1,000,000	g	Rogers Communications, Inc	4.500	%	03/15/42	$	1,013,129
	125,000		Rogers Communications, Inc	4.500		03/15/43		126,190
	300,000		Rogers Communications, Inc	5.450		10/01/43		334,306
	600,000		Rogers Communications, Inc	5.000		03/15/44		636,813
	150,000		Rogers Communications, Inc	4.300		02/15/48		146,319
	1,500,000		Rogers Communications, Inc	4.350		05/01/49		1,462,474
	1,300,000		Rogers Communications, Inc	3.700		11/15/49		1,156,119
	1,000,000	g	Rogers Communications, Inc	4.550		03/15/52		994,158
	1,500,000		Telefonica Emisiones SAU	4.103		03/08/27		1,534,122
	625,000		Telefonica Emisiones SAU	7.045		06/20/36		782,147
	1,200,000		Telefonica Emisiones SAU	4.665		03/06/38		1,227,079
	2,125,000		Telefonica Emisiones SAU	5.213		03/08/47		2,277,265
	1,175,000		Telefonica Emisiones SAU	4.895		03/06/48		1,214,957
	900,000		Telefonica Emisiones SAU	5.520		03/01/49		1,011,629
	567,000		Telefonica Europe BV	8.250		09/15/30		743,087
	325,000		TELUS Corp	2.800		02/16/27		317,932
	300,000		TELUS Corp	3.700		09/15/27		306,121
	1,000,000		TELUS Corp	3.400		05/13/32		978,251
	500,000		TELUS Corp	4.600		11/16/48		551,653
	750,000		TELUS Corp	4.300		06/15/49		784,035
	1,500,000		T-Mobile USA, Inc	3.500		04/15/25		1,509,926
	4,000,000		T-Mobile USA, Inc	1.500		02/15/26		3,730,874
	4,000,000		T-Mobile USA, Inc	3.750		04/15/27		4,023,381
	3,500,000		T-Mobile USA, Inc	2.050		02/15/28		3,196,599
	1,000,000	g	T-Mobile USA, Inc	2.400		03/15/29		915,716
	825,000		T-Mobile USA, Inc	3.875		04/15/30		828,167
	1,500,000		T-Mobile USA, Inc	2.550		02/15/31		1,360,202
	1,500,000		T-Mobile USA, Inc	2.250		11/15/31		1,312,083
	1,000,000	g	T-Mobile USA, Inc	2.700		03/15/32		909,693
	650,000		T-Mobile USA, Inc	4.375		04/15/40		652,758
	1,350,000		T-Mobile USA, Inc	3.000		02/15/41		1,141,180
	3,875,000		T-Mobile USA, Inc	4.500		04/15/50		3,920,167
	2,500,000		T-Mobile USA, Inc	3.300		02/15/51		2,103,566
	2,500,000	g	T-Mobile USA, Inc	3.400		10/15/52		2,126,100
	1,000,000		T-Mobile USA, Inc	3.600		11/15/60		858,872
	500,000	g	T-Mobile USA, Inc	3.600		11/15/60		429,436
	2,625,000		Verizon Communications, Inc	3.000		03/22/27		2,594,332
	5,000,000		Verizon Communications, Inc	2.100		03/22/28		4,660,369
	6,641,000		Verizon Communications, Inc	4.329		09/21/28		7,005,419
	350,000		Verizon Communications, Inc	3.875		02/08/29		364,119
	9,005,000		Verizon Communications, Inc	4.016		12/03/29		9,345,855
	200,000		Verizon Communications, Inc	3.150		03/22/30		196,695
	1,550,000		Verizon Communications, Inc	1.500		09/18/30		1,346,008
	1,533,000		Verizon Communications, Inc	1.680		10/30/30		1,336,667
	3,000,000		Verizon Communications, Inc	1.750		01/20/31		2,615,610
	1,925,000		Verizon Communications, Inc	2.550		03/21/31		1,788,421
	13,355,000	g	Verizon Communications, Inc	2.355		03/15/32		12,062,438
	2,000,000		Verizon Communications, Inc	2.650		11/20/40		1,701,317
	1,350,000		Verizon Communications, Inc	3.400		03/22/41		1,265,513
	1,000,000		Verizon Communications, Inc	2.850		09/03/41		880,252
	150,000		Verizon Communications, Inc	4.000		03/22/50		152,203
	2,000,000		Verizon Communications, Inc	2.875		11/20/50		1,671,046
	2,725,000		Verizon Communications, Inc	3.550		03/22/51		2,560,674
	1,000,000		Verizon Communications, Inc	3.875		03/01/52		1,004,789
	8,764,000		Verizon Communications, Inc	2.987		10/30/56		7,213,505

86

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	2,000,000	Verizon Communications, Inc	3.000	%	11/20/60	$	1,630,942
	5,000,000	Verizon Communications, Inc	3.700		03/22/61		4,631,379
	4,000,000	Vodafone Group plc	4.125		05/30/25		4,118,205
	4,425,000	Vodafone Group plc	4.375		05/30/28		4,627,427
	425,000	Vodafone Group plc	6.150		02/27/37		509,067
	925,000	Vodafone Group plc	5.000		05/30/38		1,007,812
	1,900,000	Vodafone Group plc	4.375		02/19/43		1,907,036
	1,450,000	Vodafone Group plc	5.250		05/30/48		1,624,211
	1,000,000	Vodafone Group plc	4.875		06/19/49		1,088,188
	1,500,000	Vodafone Group plc	4.250		09/17/50		1,494,221
	500,000	Vodafone Group plc	5.125		06/19/59		555,521
		TOTAL TELECOMMUNICATION SERVICES					235,764,290
TRANSPORTATION - 0.6%
	400,000	American Airlines	2.875		07/11/34		361,081
	1,100,000	Burlington Northern Santa Fe LLC	3.850		09/01/23		1,123,773
	500,000	Burlington Northern Santa Fe LLC	3.750		04/01/24		509,124
	150,000	Burlington Northern Santa Fe LLC	3.400		09/01/24		152,584
	300,000	Burlington Northern Santa Fe LLC	3.000		04/01/25		302,758
	700,000	Burlington Northern Santa Fe LLC	3.650		09/01/25		717,294
	660,000	Burlington Northern Santa Fe LLC	5.750		05/01/40		822,462
	250,000	Burlington Northern Santa Fe LLC	5.050		03/01/41		290,832
	200,000	Burlington Northern Santa Fe LLC	4.400		03/15/42		217,344
	300,000	Burlington Northern Santa Fe LLC	4.450		03/15/43		328,075
	500,000	Burlington Northern Santa Fe LLC	5.150		09/01/43		593,744
	500,000	Burlington Northern Santa Fe LLC	4.900		04/01/44		574,375
	600,000	Burlington Northern Santa Fe LLC	4.550		09/01/44		665,070
	1,275,000	Burlington Northern Santa Fe LLC	4.150		04/01/45		1,349,487
	200,000	Burlington Northern Santa Fe LLC	4.700		09/01/45		227,567
	1,150,000	Burlington Northern Santa Fe LLC	3.900		08/01/46		1,189,751
	400,000	Burlington Northern Santa Fe LLC	4.125		06/15/47		432,750
	1,675,000	Burlington Northern Santa Fe LLC	4.050		06/15/48		1,780,496
	1,025,000	Burlington Northern Santa Fe LLC	4.150		12/15/48		1,105,522
	750,000	Burlington Northern Santa Fe LLC	3.550		02/15/50		743,215
	750,000	Burlington Northern Santa Fe LLC	3.050		02/15/51		688,594
	4,000,000	Burlington Northern Santa Fe LLC	3.300		09/15/51		3,782,541
	1,000,000	Burlington Northern Santa Fe LLC	2.875		06/15/52		885,860
	200,000	Canadian National Railway Co	2.950		11/21/24		199,336
	200,000	Canadian National Railway Co	6.900		07/15/28		239,557
	200,000	Canadian National Railway Co	6.250		08/01/34		252,161
	250,000	Canadian National Railway Co	3.500		11/15/42		237,638
	100,000	Canadian National Railway Co	4.500		11/07/43		107,391
	650,000	Canadian National Railway Co	3.200		08/02/46		611,630
	725,000	Canadian National Railway Co	3.650		02/03/48		726,491
	325,000	Canadian National Railway Co	4.450		01/20/49		365,370
	400,000	Canadian National Railway Co	2.450		05/01/50		325,560
	1,800,000	Canadian Pacific Railway Co	2.900		02/01/25		1,791,831
	2,000,000	Canadian Pacific Railway Co	1.750		12/02/26		1,883,943
	300,000	Canadian Pacific Railway Co	4.000		06/01/28		313,242
	100,000	Canadian Pacific Railway Co	2.050		03/05/30		91,604
	200,000	Canadian Pacific Railway Co	7.125		10/15/31		255,204
	600,000	Canadian Pacific Railway Co	2.450		12/02/31		557,248
	250,000	Canadian Pacific Railway Co	5.950		05/15/37		305,984
	475,000	Canadian Pacific Railway Co	3.000		12/02/41		427,289
	1,000,000	Canadian Pacific Railway Co	3.100		12/02/51		884,141
	1,275,000	Canadian Pacific Railway Co	6.125		09/15/15		1,621,319

87

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	400,000		CH Robinson Worldwide, Inc	4.200	%	04/15/28	$	411,346
	300,000		CSX Corp	3.400		08/01/24		303,630
	200,000		CSX Corp	3.350		11/01/25		201,643
	1,200,000		CSX Corp	2.600		11/01/26		1,180,754
	825,000		CSX Corp	4.250		03/15/29		874,886
	600,000		CSX Corp	2.400		02/15/30		570,343
	100,000		CSX Corp	6.000		10/01/36		122,336
	200,000		CSX Corp	6.150		05/01/37		249,843
	400,000		CSX Corp	5.500		04/15/41		477,838
	350,000		CSX Corp	4.400		03/01/43		369,964
	600,000		CSX Corp	4.100		03/15/44		618,248
	800,000		CSX Corp	3.800		11/01/46		797,052
	1,050,000		CSX Corp	4.300		03/01/48		1,128,030
	850,000		CSX Corp	4.750		11/15/48		973,465
	500,000		CSX Corp	4.500		03/15/49		547,394
	600,000		CSX Corp	3.350		09/15/49		558,481
	1,000,000		CSX Corp	3.800		04/15/50		1,015,206
	200,000		CSX Corp	3.950		05/01/50		206,793
	800,000		CSX Corp	2.500		05/15/51		646,472
	300,000		CSX Corp	4.500		08/01/54		330,399
	150,000		CSX Corp	4.250		11/01/66		155,916
	300,000		CSX Corp	4.650		03/01/68		328,376
	500,000		FedEx Corp	3.250		04/01/26		505,958
	1,250,000		FedEx Corp	3.400		02/15/28		1,252,334
	500,000		FedEx Corp	4.200		10/17/28		520,836
	2,000,000		FedEx Corp	3.100		08/05/29		1,971,062
	500,000		FedEx Corp	4.250		05/15/30		524,506
	1,500,000		FedEx Corp	2.400		05/15/31		1,369,200
	1,000,000		FedEx Corp	4.900		01/15/34		1,103,928
	200,000		FedEx Corp	3.900		02/01/35		198,853
	2,000,000		FedEx Corp	3.250		05/15/41		1,790,242
	275,000		FedEx Corp	5.100		01/15/44		307,064
	1,100,000		FedEx Corp	4.750		11/15/45		1,173,366
	600,000		FedEx Corp	4.550		04/01/46		628,205
	450,000		FedEx Corp	4.400		01/15/47		460,732
	900,000		FedEx Corp	4.050		02/15/48		889,001
	500,000		FedEx Corp	4.950		10/17/48		555,331
	1,500,000		FedEx Corp	5.250		05/15/50		1,737,157
	200,000		FedEx Corp	4.500		02/01/65		203,388
	1,000,000	g	GXO Logistics, Inc	1.650		07/15/26		902,800
	1,000,000	g	GXO Logistics, Inc	2.650		07/15/31		867,100
	500,000		JB Hunt Transport Services, Inc	3.875		03/01/26		509,037
	934,563		JetBlue Pass Through Trust	4.000		11/15/32		933,874
	100,000		Kansas City Southern	3.000		05/15/23		100,272
	100,000		Kansas City Southern	3.125		06/01/26		99,465
	500,000		Kansas City Southern	2.875		11/15/29		480,616
	100,000		Kansas City Southern	4.300		05/15/43		103,324
	175,000		Kansas City Southern	4.950		08/15/45		196,218
	800,000		Kansas City Southern	4.700		05/01/48		882,979
	500,000		Kansas City Southern	3.500		05/01/50		466,966
	500,000		Kansas City Southern	4.200		11/15/69		500,867
	350,000		Kirby Corp	4.200		03/01/28		345,016
	350,000		Norfolk Southern Corp	2.900		06/15/26		345,656
	300,000		Norfolk Southern Corp	3.150		06/01/27		297,758

88

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	700,000		Norfolk Southern Corp	3.800	%	08/01/28	$	714,738
	2,500,000		Norfolk Southern Corp	2.300		05/15/31		2,320,999
	1,000,000		Norfolk Southern Corp	3.000		03/15/32		974,496
	16,000		Norfolk Southern Corp	4.837		10/01/41		18,031
	300,000		Norfolk Southern Corp	4.450		06/15/45		320,909
	200,000		Norfolk Southern Corp	4.650		01/15/46		223,446
	303,000		Norfolk Southern Corp	3.942		11/01/47		309,540
	1,450,000		Norfolk Southern Corp	4.150		02/28/48		1,514,299
	500,000		Norfolk Southern Corp	4.100		05/15/49		519,402
	500,000		Norfolk Southern Corp	3.400		11/01/49		466,640
	1,000,000		Norfolk Southern Corp	3.050		05/15/50		890,753
	1,000,000		Norfolk Southern Corp	2.900		08/25/51		865,486
	175,000		Norfolk Southern Corp	4.050		08/15/52		183,769
	1,000,000		Norfolk Southern Corp	3.700		03/15/53		988,439
	1,170,000		Norfolk Southern Corp	3.155		05/15/55		1,044,977
	1,000,000		Norfolk Southern Corp	4.100		05/15/21		930,640
	200,000		Ryder System, Inc	3.400		03/01/23		201,726
	200,000		Ryder System, Inc	3.750		06/09/23		202,261
	200,000		Ryder System, Inc	3.875		12/01/23		202,905
	550,000		Ryder System, Inc	3.650		03/18/24		555,837
	500,000		Ryder System, Inc	2.500		09/01/24		493,452
	300,000		Ryder System, Inc	4.625		06/01/25		310,551
	500,000		Ryder System, Inc	3.350		09/01/25		500,065
	1,000,000		Ryder System, Inc	1.750		09/01/26		930,738
	500,000		Ryder System, Inc	2.900		12/01/26		484,969
	1,000,000		Ryder System, Inc	2.850		03/01/27		969,674
	200,000		Southwest Airlines Co	2.750		11/16/22		200,691
	1,250,000		Southwest Airlines Co	4.750		05/04/23		1,276,027
	1,250,000		Southwest Airlines Co	5.250		05/04/25		1,312,676
	200,000		Southwest Airlines Co	3.000		11/15/26		195,709
	1,000,000		Southwest Airlines Co	5.125		06/15/27		1,069,035
	200,000		Southwest Airlines Co	3.450		11/16/27		198,004
	300,000		Southwest Airlines Co	2.625		02/10/30		273,625
	277,000		Union Pacific Corp	3.646		02/15/24		281,590
	300,000		Union Pacific Corp	3.150		03/01/24		302,843
	200,000		Union Pacific Corp	3.750		03/15/24		203,213
	200,000		Union Pacific Corp	3.250		01/15/25		201,838
	500,000		Union Pacific Corp	3.750		07/15/25		512,381
	200,000		Union Pacific Corp	3.250		08/15/25		200,928
	300,000		Union Pacific Corp	2.750		03/01/26		298,078
	500,000		Union Pacific Corp	2.150		02/05/27		480,293
	2,500,000	e	Union Pacific Corp	2.375		05/20/31		2,339,147
	1,000,000		Union Pacific Corp	2.800		02/14/32		960,125
	100,000		Union Pacific Corp	3.375		02/01/35		98,383
	2,525,000		Union Pacific Corp	2.891		04/06/36		2,359,360
	100,000		Union Pacific Corp	3.600		09/15/37		100,712
	500,000		Union Pacific Corp	3.550		08/15/39		493,058
	1,500,000		Union Pacific Corp	3.200		05/20/41		1,415,493
	500,000		Union Pacific Corp	3.375		02/14/42		483,268
	200,000		Union Pacific Corp	3.350		08/15/46		188,552
	300,000		Union Pacific Corp	4.000		04/15/47		310,138
	4,000,000		Union Pacific Corp	3.250		02/05/50		3,722,893
	1,070,000		Union Pacific Corp	3.799		10/01/51		1,091,939
	500,000		Union Pacific Corp	2.950		03/10/52		442,545
	1,000,000		Union Pacific Corp	3.500		02/14/53		978,462

89

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	200,000		Union Pacific Corp	3.875	%	02/01/55	$	203,364
	300,000		Union Pacific Corp	3.950		08/15/59		304,580
	1,925,000		Union Pacific Corp	3.839		03/20/60		1,931,693
	1,500,000		Union Pacific Corp	3.550		05/20/61		1,424,881
	2,950,000		Union Pacific Corp	2.973		09/16/62		2,496,318
	200,000		Union Pacific Corp	4.100		09/15/67		207,044
	500,000		Union Pacific Corp	3.750		02/05/70		486,812
	500,000		Union Pacific Corp	3.799		04/06/71		495,491
	500,000		Union Pacific Corp	3.850		02/14/72		494,064
	500,000		United Parcel Service, Inc	2.200		09/01/24		497,601
	300,000		United Parcel Service, Inc	2.800		11/15/24		301,386
	125,000		United Parcel Service, Inc	2.400		11/15/26		122,015
	875,000		United Parcel Service, Inc	3.050		11/15/27		883,181
	500,000		United Parcel Service, Inc	3.400		03/15/29		511,083
	500,000		United Parcel Service, Inc	2.500		09/01/29		480,882
	750,000		United Parcel Service, Inc	4.450		04/01/30		816,705
	510,000		United Parcel Service, Inc	6.200		01/15/38		664,852
	450,000		United Parcel Service, Inc	3.625		10/01/42		456,732
	400,000		United Parcel Service, Inc	3.400		11/15/46		395,946
	1,550,000		United Parcel Service, Inc	3.750		11/15/47		1,628,604
	300,000		United Parcel Service, Inc	4.250		03/15/49		335,132
	500,000	e	United Parcel Service, Inc	3.400		09/01/49		499,504
	1,630,000		United Parcel Service, Inc	5.300		04/01/50		2,131,332
			TOTAL TRANSPORTATION					121,231,714
UTILITIES - 2.3%
	200,000		AEP Texas, Inc	3.950		06/01/28		204,069
	550,000		AEP Texas, Inc	2.100		07/01/30		489,926
	200,000		AEP Texas, Inc	3.800		10/01/47		187,415
	100,000		AEP Texas, Inc	4.150		05/01/49		98,316
	850,000		AEP Texas, Inc	3.450		05/15/51		752,890
	200,000		AEP Transmission Co LLC	3.100		12/01/26		199,503
	600,000		AEP Transmission Co LLC	4.000		12/01/46		610,876
	500,000		AEP Transmission Co LLC	3.750		12/01/47		491,050
	200,000		AEP Transmission Co LLC	4.250		09/15/48		210,105
	300,000		AEP Transmission Co LLC	3.800		06/15/49		296,153
	550,000		AEP Transmission Co LLC	2.750		08/15/51		450,548
	600,000		AES Corp	1.375		01/15/26		551,743
	675,000		AES Corp	2.450		01/15/31		603,622
	475,000		Alabama Power Co	3.550		12/01/23		480,857
	575,000		Alabama Power Co	1.450		09/15/30		498,655
	200,000		Alabama Power Co	3.850		12/01/42		195,050
	400,000		Alabama Power Co	3.750		03/01/45		383,484
	300,000		Alabama Power Co	4.300		01/02/46		312,484
	350,000		Alabama Power Co	3.700		12/01/47		339,027
	1,000,000		Alabama Power Co	4.300		07/15/48		1,049,363
	1,000,000		Alabama Power Co	3.125		07/15/51		869,513
	1,000,000		Alabama Power Co	3.000		03/15/52		856,855
	350,000		Ameren Corp	2.500		09/15/24		345,287
	1,000,000		Ameren Corp	1.950		03/15/27		936,417
	2,000,000		Ameren Corp	1.750		03/15/28		1,828,470
	300,000		Ameren Illinois Co	3.800		05/15/28		307,853
	750,000		Ameren Illinois Co	1.550		11/15/30		654,328
	125,000		Ameren Illinois Co	4.150		03/15/46		130,377
	1,150,000		Ameren Illinois Co	3.700		12/01/47		1,138,758

90

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	575,000		Ameren Illinois Co	4.500	%	03/15/49	$	635,835
	325,000		Ameren Illinois Co	2.900		06/15/51		282,667
	1,000,000		American Electric Power Co, Inc	0.750		11/01/23		968,862
	1,000,000		American Electric Power Co, Inc	1.000		11/01/25		925,448
	350,000		American Electric Power Co, Inc	3.200		11/13/27		346,798
	700,000		American Electric Power Co, Inc	4.300		12/01/28		723,698
	500,000		American Electric Power Co, Inc	2.300		03/01/30		455,500
	1,000,000		American Electric Power Co, Inc	3.875		02/15/62		923,842
	500,000		American Water Capital Corp	3.850		03/01/24		508,756
	300,000		American Water Capital Corp	3.400		03/01/25		302,730
	200,000		American Water Capital Corp	2.950		09/01/27		198,064
	500,000		American Water Capital Corp	3.750		09/01/28		508,238
	750,000		American Water Capital Corp	3.450		06/01/29		750,672
	100,000		American Water Capital Corp	2.800		05/01/30		95,800
	2,000,000		American Water Capital Corp	2.300		06/01/31		1,824,060
	225,000		American Water Capital Corp	4.300		12/01/42		233,873
	150,000		American Water Capital Corp	4.300		09/01/45		153,932
	100,000		American Water Capital Corp	4.000		12/01/46		101,034
	1,175,000		American Water Capital Corp	3.750		09/01/47		1,146,933
	500,000		American Water Capital Corp	4.200		09/01/48		528,844
	500,000		American Water Capital Corp	4.150		06/01/49		518,304
	675,000		American Water Capital Corp	3.450		05/01/50		632,740
	2,000,000		American Water Capital Corp	3.250		06/01/51		1,804,090
	200,000		Appalachian Power Co	3.300		06/01/27		201,077
	1,000,000		Appalachian Power Co	2.700		04/01/31		926,498
	300,000		Appalachian Power Co	4.500		03/01/49		313,314
	775,000		Appalachian Power Co	3.700		05/01/50		722,341
	125,000		Aqua America, Inc	3.566		05/01/29		124,851
	200,000		Aqua America, Inc	4.276		05/01/49		208,647
	200,000	e	Arizona Public Service Co	2.950		09/15/27		195,527
	1,000,000		Arizona Public Service Co	2.600		08/15/29		936,621
	500,000		Arizona Public Service Co	2.200		12/15/31		438,900
	350,000		Arizona Public Service Co	4.500		04/01/42		355,192
	200,000		Arizona Public Service Co	4.350		11/15/45		198,491
	410,000		Arizona Public Service Co	3.750		05/15/46		380,565
	200,000		Arizona Public Service Co	4.200		08/15/48		197,397
	200,000		Arizona Public Service Co	4.250		03/01/49		199,961
	300,000		Arizona Public Service Co	3.500		12/01/49		268,061
	500,000		Arizona Public Service Co	3.350		05/15/50		434,975
	750,000		Arizona Public Service Co	2.650		09/15/50		575,983
	900,000		Atlantic City Electric Co	4.000		10/15/28		928,189
	425,000		Atlantic City Electric Co	2.300		03/15/31		391,996
	650,000		Atmos Energy Corp	3.000		06/15/27		645,491
	1,500,000		Atmos Energy Corp	2.625		09/15/29		1,427,912
	750,000		Atmos Energy Corp	1.500		01/15/31		646,047
	100,000		Atmos Energy Corp	5.500		06/15/41		117,939
	125,000		Atmos Energy Corp	4.150		01/15/43		126,368
	600,000		Atmos Energy Corp	4.125		10/15/44		615,248
	500,000		Atmos Energy Corp	4.300		10/01/48		533,693
	300,000		Atmos Energy Corp	4.125		03/15/49		315,902
	500,000		Atmos Energy Corp	3.375		09/15/49		466,677
	1,500,000		Atmos Energy Corp	2.850		02/15/52		1,273,224
	500,000		Avangrid, Inc	3.150		12/01/24		499,084
	300,000		Avangrid, Inc	3.200		04/15/25		299,072
	625,000		Avangrid, Inc	3.800		06/01/29		634,233

91

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	150,000		Avista Corp	4.350	%	06/01/48	$	155,588
	550,000		Avista Corp	4.000		04/01/52		557,369
	200,000		Baltimore Gas & Electric Co	2.400		08/15/26		195,871
	150,000		Baltimore Gas & Electric Co	3.500		08/15/46		144,944
	200,000		Baltimore Gas & Electric Co	3.750		08/15/47		196,963
	200,000		Baltimore Gas & Electric Co	4.250		09/15/48		212,263
	500,000		Baltimore Gas & Electric Co	3.200		09/15/49		450,751
	775,000		Baltimore Gas & Electric Co	2.900		06/15/50		673,776
	1,500,000		Baltimore Gas and Electric Co	2.250		06/15/31		1,365,283
	500,000		BAT Capital Corp	4.742		03/16/32		502,956
	1,000,000		BAT Capital Corp	5.650		03/16/52		1,014,476
	350,000		Berkshire Hathaway Energy Co	3.500		02/01/25		355,093
	175,000		Berkshire Hathaway Energy Co	3.250		04/15/28		175,081
	2,500,000		Berkshire Hathaway Energy Co	1.650		05/15/31		2,177,025
	950,000		Berkshire Hathaway Energy Co	6.125		04/01/36		1,169,907
	1,032,000		Berkshire Hathaway Energy Co	5.950		05/15/37		1,256,679
	725,000		Berkshire Hathaway Energy Co	5.150		11/15/43		825,234
	975,000		Berkshire Hathaway Energy Co	4.500		02/01/45		1,033,631
	1,250,000		Berkshire Hathaway Energy Co	3.800		07/15/48		1,234,853
	1,025,000		Berkshire Hathaway Energy Co	4.450		01/15/49		1,105,431
	2,500,000		Berkshire Hathaway Energy Co	2.850		05/15/51		2,118,310
	200,000		Black Hills Corp	4.250		11/30/23		203,825
	1,500,000		Black Hills Corp	1.037		08/23/24		1,431,799
	100,000		Black Hills Corp	3.950		01/15/26		101,603
	100,000		Black Hills Corp	3.150		01/15/27		98,138
	550,000		Black Hills Corp	2.500		06/15/30		499,857
	300,000		Black Hills Corp	4.350		05/01/33		305,247
	200,000		Black Hills Corp	4.200		09/15/46		198,653
	1,000,000		Brookfield Finance, Inc	3.625		02/15/52		897,878
	200,000		CenterPoint Energy Houston Electric LLC	2.400		09/01/26		193,811
	300,000		CenterPoint Energy Houston Electric LLC	3.000		02/01/27		297,362
	275,000		CenterPoint Energy Houston Electric LLC	2.350		04/01/31		255,284
	275,000		CenterPoint Energy Houston Electric LLC	3.000		03/01/32		268,858
	100,000		CenterPoint Energy Houston Electric LLC	6.950		03/15/33		129,078
	300,000		CenterPoint Energy Houston Electric LLC	3.950		03/01/48		311,765
	750,000		CenterPoint Energy Houston Electric LLC	4.250		02/01/49		816,437
	150,000		CenterPoint Energy Houston Electric LLC	2.900		07/01/50		133,281
	875,000		CenterPoint Energy Houston Electric LLC	3.350		04/01/51		833,213
	500,000		CenterPoint Energy Houston Electric LLC	3.600		03/01/52		500,690
	1,000,000		CenterPoint Energy Resources Corp	0.700		03/02/23		985,336
	200,000		CenterPoint Energy Resources Corp	4.000		04/01/28		202,642
	575,000		CenterPoint Energy Resources Corp	1.750		10/01/30		504,077
	700,000		CenterPoint Energy Resources Corp	4.100		09/01/47		710,834
	500,000		CenterPoint Energy, Inc	2.500		09/01/24		491,361
	1,000,000		CenterPoint Energy, Inc	1.450		06/01/26		926,798
	135,000		CenterPoint Energy, Inc	4.250		11/01/28		138,806
	750,000		CenterPoint Energy, Inc	2.950		03/01/30		714,279
	1,000,000	e	CenterPoint Energy, Inc	2.650		06/01/31		922,417
	500,000		CenterPoint Energy, Inc	3.700		09/01/49		465,671
	3,200,000		Cheniere Corpus Christi Holdings LLC	3.700		11/15/29		3,190,016
	2,000,000	g	Cheniere Corpus Christi Holdings LLC	2.742		12/31/39		1,740,223
	425,000		Cleco Corporate Holdings LLC	3.743		05/01/26		430,645
	300,000		Cleco Corporate Holdings LLC	3.375		09/15/29		286,709
	200,000		Cleco Corporate Holdings LLC	4.973		05/01/46		211,044
	790,000		CMS Energy Corp	3.450		08/15/27		792,452

92

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	1,000,000	CMS Energy Corp	3.750	%	12/01/50	$	882,500
	250,000	Commonwealth Edison Co	2.550		06/15/26		245,510
	1,355,000	Commonwealth Edison Co	2.950		08/15/27		1,335,748
	300,000	Commonwealth Edison Co	3.700		08/15/28		304,812
	500,000	Commonwealth Edison Co	2.200		03/01/30		462,067
	1,000,000	Commonwealth Edison Co	3.150		03/15/32		986,571
	200,000	Commonwealth Edison Co	3.800		10/01/42		200,923
	300,000	Commonwealth Edison Co	4.700		01/15/44		334,395
	100,000	Commonwealth Edison Co	3.700		03/01/45		98,336
	250,000	Commonwealth Edison Co	3.650		06/15/46		247,183
	400,000	Commonwealth Edison Co	3.750		08/15/47		397,775
	1,175,000	Commonwealth Edison Co	4.000		03/01/48		1,248,198
	1,300,000	Commonwealth Edison Co	4.000		03/01/49		1,348,420
	500,000	Commonwealth Edison Co	3.200		11/15/49		459,229
	500,000	Commonwealth Edison Co	3.000		03/01/50		448,779
	1,000,000	Commonwealth Edison Co	3.125		03/15/51		906,410
	500,000	Commonwealth Edison Co	2.750		09/01/51		424,822
	1,000,000	Commonwealth Edison Co	3.850		03/15/52		1,033,722
	625,000	Connecticut Light & Power Co	3.200		03/15/27		626,311
	400,000	Connecticut Light & Power Co	4.300		04/15/44		425,455
	250,000	Connecticut Light & Power Co	4.150		06/01/45		261,181
	775,000	Connecticut Light & Power Co	4.000		04/01/48		814,402
	1,000,000	Connecticut Light and Power Co	0.750		12/01/25		918,377
	500,000	Connecticut Light and Power Co	2.050		07/01/31		452,230
	200,000	Consolidated Edison Co of New York, Inc	3.800		05/15/28		204,946
	300,000	Consolidated Edison Co of New York, Inc	4.000		12/01/28		310,483
	100,000	Consolidated Edison Co of New York, Inc	3.350		04/01/30		99,673
	2,500,000	Consolidated Edison Co of New York, Inc	2.400		06/15/31		2,301,478
	200,000	Consolidated Edison Co of New York, Inc	4.200		03/15/42		201,394
	550,000	Consolidated Edison Co of New York, Inc	3.950		03/01/43		536,857
	1,475,000	Consolidated Edison Co of New York, Inc	4.450		03/15/44		1,546,787
	150,000	Consolidated Edison Co of New York, Inc	4.500		12/01/45		157,371
	400,000	Consolidated Edison Co of New York, Inc	3.850		06/15/46		387,187
	400,000	Consolidated Edison Co of New York, Inc	3.875		06/15/47		388,501
	300,000	Consolidated Edison Co of New York, Inc	4.650		12/01/48		329,471
	500,000	Consolidated Edison Co of New York, Inc	4.125		05/15/49		504,605
	700,000	Consolidated Edison Co of New York, Inc	3.950		04/01/50		719,715
	1,000,000	Consolidated Edison Co of New York, Inc	3.200		12/01/51		884,152
	850,000	Consolidated Edison Co of New York, Inc	4.625		12/01/54		924,683
	200,000	Consolidated Edison Co of New York, Inc	4.300		12/01/56		206,344
	1,300,000	Consolidated Edison Co of New York, Inc	4.000		11/15/57		1,268,807
	400,000	Consolidated Edison Co of New York, Inc	4.500		05/15/58		422,144
	1,000,000	Consolidated Edison Co of New York, Inc	3.700		11/15/59		921,921
	1,000,000	Consolidated Edison Co of New York, Inc	3.000		12/01/60		809,328
	1,000,000	Consolidated Edison Co of New York, Inc	3.600		06/15/61		919,293
	1,000,000	Consolidated Edison, Inc	0.650		12/01/23		976,426
	1,300,000	Consumers Energy Co	0.350		06/01/23		1,266,798
	200,000	Consumers Energy Co	3.375		08/15/23		201,494
	250,000	Consumers Energy Co	3.800		11/15/28		254,860
	600,000	Consumers Energy Co	3.950		07/15/47		625,071
	600,000	Consumers Energy Co	4.050		05/15/48		623,902
	350,000	Consumers Energy Co	4.350		04/15/49		380,096
	500,000	Consumers Energy Co	3.750		02/15/50		502,281
	500,000	Consumers Energy Co	3.100		08/15/50		457,718
	150,000	Consumers Energy Co	3.500		08/01/51		146,511

93

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	500,000	Consumers Energy Co	2.650	%	08/15/52	$	415,024
	1,000,000	Consumers Energy Co	2.500		05/01/60		760,594
	300,000	Dayton Power & Light Co	3.950		06/15/49		294,517
	200,000	Delmarva Power & Light Co	4.150		05/15/45		202,752
	925,000	Dominion Energy South Carolina, Inc	2.300		12/01/31		844,105
	300,000	Dominion Energy, Inc	3.300		03/15/25		302,218
	1,750,000	Dominion Energy, Inc	3.900		10/01/25		1,785,026
	1,000,000	Dominion Energy, Inc	1.450		04/15/26		929,794
	775,000	Dominion Energy, Inc	3.600		03/15/27		778,153
	500,000	Dominion Energy, Inc	4.250		06/01/28		516,407
	303,000	Dominion Energy, Inc	3.375		04/01/30		298,915
	500,000	Dominion Energy, Inc	2.250		08/15/31		450,374
	475,000	Dominion Energy, Inc	3.300		04/15/41		430,943
	200,000	Dominion Energy, Inc	4.700		12/01/44		213,686
	500,000	Dominion Energy, Inc	4.600		03/15/49		542,094
	225,000	Dominion Energy, Inc (Step Bond)	3.071		08/15/24		224,536
	200,000	DTE Electric Co	3.650		03/15/24		203,458
	500,000	DTE Electric Co	1.900		04/01/28		465,099
	1,500,000	DTE Electric Co	3.000		03/01/32		1,462,912
	200,000	DTE Electric Co	4.000		04/01/43		204,014
	100,000	DTE Electric Co	3.700		06/01/46		99,379
	500,000	DTE Electric Co	3.750		08/15/47		505,425
	1,000,000	DTE Electric Co	4.050		05/15/48		1,054,224
	525,000	DTE Electric Co	3.950		03/01/49		542,113
	1,000,000	DTE Electric Co	2.950		03/01/50		881,157
	400,000	DTE Electric Co	3.250		04/01/51		379,084
	450,000	DTE Electric Co	3.650		03/01/52		454,852
	1,000,000	DTE Energy Co	1.050		06/01/25		935,488
	327,000	DTE Energy Co	3.400		06/15/29		319,927
	500,000	DTE Energy Co	2.950		03/01/30		475,913
	200,000	Duke Energy Carolinas LLC	2.950		12/01/26		199,486
	500,000	Duke Energy Carolinas LLC	3.950		11/15/28		519,118
	500,000	Duke Energy Carolinas LLC	2.450		08/15/29		473,063
	1,500,000	Duke Energy Carolinas LLC	2.550		04/15/31		1,407,307
	375,000	Duke Energy Carolinas LLC	2.850		03/15/32		362,455
	125,000	Duke Energy Carolinas LLC	5.300		02/15/40		147,474
	300,000	Duke Energy Carolinas LLC	3.750		06/01/45		294,898
	200,000	Duke Energy Carolinas LLC	3.875		03/15/46		200,959
	1,750,000	Duke Energy Carolinas LLC	3.700		12/01/47		1,707,076
	1,500,000	Duke Energy Carolinas LLC	3.950		03/15/48		1,538,915
	1,000,000	Duke Energy Carolinas LLC	3.200		08/15/49		927,592
	1,500,000	Duke Energy Carolinas LLC	3.450		04/15/51		1,453,949
	500,000	Duke Energy Carolinas LLC	3.550		03/15/52		493,928
	300,000	Duke Energy Corp	3.950		10/15/23		303,778
	1,000,000	Duke Energy Corp	0.900		09/15/25		928,794
	2,700,000	Duke Energy Corp	2.650		09/01/26		2,627,818
	350,000	Duke Energy Corp	3.150		08/15/27		346,180
	1,000,000	Duke Energy Corp	2.450		06/01/30		921,364
	1,000,000	Duke Energy Corp	2.550		06/15/31		914,297
	1,000,000	Duke Energy Corp	3.300		06/15/41		905,419
	300,000	Duke Energy Corp	4.800		12/15/45		321,290
	3,475,000	Duke Energy Corp	3.750		09/01/46		3,280,072
	500,000	Duke Energy Corp	4.200		06/15/49		502,436

94

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	1,000,000	Duke Energy Corp	3.500	%	06/15/51	$	912,460
	750,000	Duke Energy Corp	3.250		01/15/82		664,772
	1,200,000	Duke Energy Florida LLC	3.200		01/15/27		1,201,393
	1,000,000	Duke Energy Florida LLC	2.400		12/15/31		922,763
	375,000	Duke Energy Florida LLC	6.400		06/15/38		487,932
	500,000	Duke Energy Florida LLC	3.400		10/01/46		470,961
	300,000	Duke Energy Florida LLC	4.200		07/15/48		319,625
	1,000,000	Duke Energy Florida LLC	3.000		12/15/51		893,575
	300,000	Duke Energy Indiana LLC	3.750		05/15/46		294,229
	500,000	Duke Energy Indiana LLC	3.250		10/01/49		444,198
	275,000	Duke Energy Indiana LLC	2.750		04/01/50		231,592
	200,000	Duke Energy Ohio, Inc	3.650		02/01/29		203,291
	25,000	Duke Energy Ohio, Inc	2.125		06/01/30		22,720
	200,000	Duke Energy Ohio, Inc	3.700		06/15/46		193,751
	200,000	Duke Energy Ohio, Inc	4.300		02/01/49		210,985
	300,000	Duke Energy Progress LLC	3.375		09/01/23		303,464
	300,000	Duke Energy Progress LLC	3.250		08/15/25		301,760
	300,000	Duke Energy Progress LLC	3.700		09/01/28		305,319
	5,357,000	Duke Energy Progress LLC	3.450		03/15/29		5,367,545
	1,500,000	Duke Energy Progress LLC	2.000		08/15/31		1,342,178
	400,000	Duke Energy Progress LLC	4.375		03/30/44		423,753
	500,000	Duke Energy Progress LLC	4.150		12/01/44		514,716
	300,000	Duke Energy Progress LLC	4.200		08/15/45		313,296
	500,000	Duke Energy Progress LLC	3.700		10/15/46		484,132
	200,000	Duke Energy Progress LLC	3.600		09/15/47		196,564
	600,000	Duke Energy Progress LLC	2.500		08/15/50		487,345
	500,000	Duke Energy Progress LLC	2.900		08/15/51		437,963
	1,000,000	DXC Technology Co	1.800		09/15/26		916,659
	1,000,000	DXC Technology Co	2.375		09/15/28		903,343
	200,000	Eastern Energy Gas Holdings LLC	3.550		11/01/23		201,602
	250,000	Eastern Energy Gas Holdings LLC	2.500		11/15/24		247,395
	134,000	Eastern Energy Gas Holdings LLC	3.600		12/15/24		135,255
	800,000	Edison International	3.550		11/15/24		802,486
	750,000	Edison International	5.750		06/15/27		803,655
	300,000	Edison International	4.125		03/15/28		297,506
	200,000	El Paso Electric Co	5.000		12/01/44		216,047
	1,075,000	Emera US Finance LP	3.550		06/15/26		1,073,893
	2,000,000	Emera US Finance LP	2.639		06/15/31		1,797,940
	625,000	Emera US Finance LP	4.750		06/15/46		651,516
	50,000	Empresa Nacional de Electricidad S.A.	4.250		04/15/24		50,873
	950,000	Enbridge, Inc	2.500		02/14/25		928,632
	675,000	Enel Chile S.A.	4.875		06/12/28		699,239
	400,000	Enersis Americas S.A.	4.000		10/25/26		409,504
	175,000	Entergy Arkansas LLC	3.700		06/01/24		178,648
	600,000	Entergy Arkansas LLC	3.500		04/01/26		607,622
	200,000	Entergy Arkansas LLC	4.200		04/01/49		214,235
	425,000	Entergy Arkansas LLC	2.650		06/15/51		346,524
	750,000	Entergy Arkansas LLC	3.350		06/15/52		698,549
	1,000,000	Entergy Corp	0.900		09/15/25		917,023
	1,300,000	Entergy Corp	2.950		09/01/26		1,278,277
	1,000,000	Entergy Corp	1.900		06/15/28		904,223
	175,000	Entergy Corp	2.800		06/15/30		164,014
	625,000	Entergy Corp	2.400		06/15/31		561,015
	500,000	Entergy Corp	3.750		06/15/50		469,243
	200,000	Entergy Louisiana LLC	4.050		09/01/23		203,913

95

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	1,000,000		Entergy Louisiana LLC	0.620	%	11/17/23	$	970,327
	200,000		Entergy Louisiana LLC	2.400		10/01/26		194,628
	200,000		Entergy Louisiana LLC	3.120		09/01/27		196,709
	1,000,000		Entergy Louisiana LLC	1.600		12/15/30		866,273
	1,000,000		Entergy Louisiana LLC	2.350		06/15/32		906,863
	500,000		Entergy Louisiana LLC	4.000		03/15/33		518,331
	1,000,000		Entergy Louisiana LLC	3.100		06/15/41		910,106
	300,000		Entergy Louisiana LLC	4.200		09/01/48		314,205
	300,000		Entergy Louisiana LLC	4.200		04/01/50		317,136
	875,000		Entergy Louisiana LLC	2.900		03/15/51		754,864
	800,000		Entergy Mississippi LLC	3.850		06/01/49		793,460
	475,000		Entergy Mississippi LLC	3.500		06/01/51		443,570
	1,000,000		Entergy Texas, Inc	4.000		03/30/29		1,041,679
	575,000		Entergy Texas, Inc	1.750		03/15/31		502,136
	200,000		Entergy Texas, Inc	4.500		03/30/39		207,185
	700,000		Entergy Texas, Inc	3.550		09/30/49		658,728
	225,000		Essential Utilities, Inc	2.704		04/15/30		212,265
	1,000,000		Essential Utilities, Inc	2.400		05/01/31		909,175
	300,000		Essential Utilities, Inc	3.351		04/15/50		266,783
	425,000		Evergy Kansas Central, Inc	3.450		04/15/50		397,043
	150,000		Evergy Metro, Inc	2.250		06/01/30		137,547
	1,100,000		Evergy, Inc	2.450		09/15/24		1,079,304
	100,000		Evergy, Inc	2.550		07/01/26		97,767
	750,000		Evergy, Inc	2.900		09/15/29		716,835
	300,000		Eversource Energy	3.800		12/01/23		304,370
	300,000		Eversource Energy	2.900		10/01/24		298,448
	100,000		Eversource Energy	0.800		08/15/25		91,996
	1,000,000		Eversource Energy	1.400		08/15/26		922,486
	200,000		Eversource Energy	3.300		01/15/28		196,367
	300,000		Eversource Energy	4.250		04/01/29		311,755
	100,000		Eversource Energy	1.650		08/15/30		86,150
	1,000,000		Eversource Energy	2.550		03/15/31		918,299
	1,000,000		Eversource Energy	3.375		03/01/32		978,182
	1,100,000		Eversource Energy	3.450		01/15/50		998,377
	425,000		Exelon Corp	3.400		04/15/26		426,446
	1,500,000	g	Exelon Corp	2.750		03/15/27		1,461,556
	1,000,000	g	Exelon Corp	3.350		03/15/32		974,379
	500,000		Exelon Corp	4.950		06/15/35		537,726
	975,000		Exelon Corp	4.450		04/15/46		1,019,377
	100,000		Exelon Corp	4.700		04/15/50		109,977
	500,000	g	Exelon Corp	4.100		03/15/52		507,836
	2,500,000		Exelon Generation Co LLC	3.250		06/01/25		2,489,475
	900,000		Exelon Generation Co LLC	6.250		10/01/39		1,014,673
	625,000		Exelon Generation Co LLC	5.600		06/15/42		665,265
	500,000		Florida Power & Light Co	3.250		06/01/24		506,437
	907,000		Florida Power & Light Co	3.125		12/01/25		913,357
	2,000,000		Florida Power & Light Co	2.450		02/03/32		1,881,134
	100,000		Florida Power & Light Co	4.125		02/01/42		105,306
	200,000		Florida Power & Light Co	4.050		06/01/42		209,568
	450,000		Florida Power & Light Co	3.800		12/15/42		455,612
	400,000		Florida Power & Light Co	4.050		10/01/44		418,310
	500,000		Florida Power & Light Co	3.700		12/01/47		509,156
	1,675,000		Florida Power & Light Co	3.950		03/01/48		1,782,113
	500,000		Florida Power & Light Co	4.125		06/01/48		541,955
	1,100,000		Florida Power & Light Co	3.990		03/01/49		1,175,926

96

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	400,000	Florida Power & Light Co	3.150	%	10/01/49	$	372,842
	1,500,000	Florida Power & Light Co	2.875		12/04/51		1,344,704
	768,000	Fortis, Inc	3.055		10/04/26		759,073
	1,000,000	FS KKR Capital Corp	3.250		07/15/27		923,077
	600,000	Georgia Power Co	2.200		09/15/24		588,390
	100,000	Georgia Power Co	3.250		04/01/26		100,331
	700,000	Georgia Power Co	3.250		03/30/27		695,513
	700,000	Georgia Power Co	2.650		09/15/29		658,917
	625,000	Georgia Power Co	4.300		03/15/42		631,926
	700,000	Georgia Power Co	4.300		03/15/43		699,548
	2,500,000	Georgia Power Co	3.250		03/15/51		2,167,510
	200,000	Gulf Power Co	3.300		05/30/27		201,581
	250,000	Iberdrola International BV	5.810		03/15/25		268,728
	400,000	Iberdrola International BV	6.750		07/15/36		521,235
	500,000	Indiana Michigan Power Co	3.850		05/15/28		509,386
	225,000	Indiana Michigan Power Co	4.550		03/15/46		237,599
	100,000	Indiana Michigan Power Co	3.750		07/01/47		95,369
	300,000	Indiana Michigan Power Co	4.250		08/15/48		308,724
	675,000	Indiana Michigan Power Co	3.250		05/01/51		602,139
	500,000	Interstate Power & Light Co	3.250		12/01/24		502,204
	725,000	Interstate Power & Light Co	4.100		09/26/28		746,800
	325,000	Interstate Power & Light Co	3.600		04/01/29		324,685
	125,000	Interstate Power & Light Co	2.300		06/01/30		113,953
	100,000	Interstate Power & Light Co	6.250		07/15/39		127,277
	100,000	Interstate Power & Light Co	3.700		09/15/46		94,436
	300,000	Interstate Power & Light Co	3.500		09/30/49		272,608
	1,000,000	Interstate Power and Light Co	3.100		11/30/51		854,821
	1,000,000	IPALCO Enterprises, Inc	3.700		09/01/24		1,002,591
	100,000	IPALCO Enterprises, Inc	4.250		05/01/30		100,154
	300,000	ITC Holdings Corp	3.650		06/15/24		302,346
	100,000	ITC Holdings Corp	3.250		06/30/26		99,673
	900,000	ITC Holdings Corp	3.350		11/15/27		900,095
	200,000	Kansas City Power & Light Co	3.650		08/15/25		203,008
	100,000	Kansas City Power & Light Co	5.300		10/01/41		114,844
	650,000	Kansas City Power & Light Co	4.200		06/15/47		675,401
	100,000	Kansas City Power & Light Co	4.200		03/15/48		103,802
	300,000	Kansas City Power & Light Co	4.125		04/01/49		308,620
	300,000	Kentucky Utilities Co	4.375		10/01/45		311,564
	400,000	Kentucky Utilities Co	3.300		06/01/50		361,876
	250,000	KeySpan Corp	5.803		04/01/35		285,786
	300,000	Louisville Gas & Electric Co	4.250		04/01/49		313,078
	1,500,000	MidAmerican Energy Co	3.100		05/01/27		1,499,319
	575,000	MidAmerican Energy Co	3.650		04/15/29		591,015
	200,000	MidAmerican Energy Co	4.800		09/15/43		227,348
	200,000	MidAmerican Energy Co	4.400		10/15/44		214,546
	200,000	MidAmerican Energy Co	4.250		05/01/46		215,226
	500,000	MidAmerican Energy Co	3.950		08/01/47		519,442
	1,000,000	MidAmerican Energy Co	3.650		08/01/48		990,786
	300,000	MidAmerican Energy Co	4.250		07/15/49		327,321
	300,000	MidAmerican Energy Co	3.150		04/15/50		275,527
	1,000,000	MidAmerican Energy Co	2.700		08/01/52		854,786
	500,000	Mississippi Power Co	3.950		03/30/28		507,944
	750,000	Mississippi Power Co	4.250		03/15/42		751,359
	1,000,000	Mississippi Power Co	3.100		07/30/51		849,707
	1,000,000	MPLX LP	4.950		03/14/52		1,041,079

97

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	200,000	National Fuel Gas Co	3.750	%	03/01/23	$	201,289
	300,000	National Fuel Gas Co	5.200		07/15/25		312,078
	300,000	National Fuel Gas Co	5.500		01/15/26		317,642
	200,000	National Fuel Gas Co	3.950		09/15/27		198,668
	200,000	National Fuel Gas Co	4.750		09/01/28		200,882
	1,100,000	National Fuel Gas Co	2.950		03/01/31		1,000,988
	1,000,000	Nevada Power Co	3.700		05/01/29		1,020,836
	500,000	Nevada Power Co	2.400		05/01/30		469,693
	500,000	Nevada Power Co	3.125		08/01/50		448,935
	2,000,000	NextEra Energy Capital Holdings, Inc	0.650		03/01/23		1,971,269
	1,000,000	NextEra Energy Capital Holdings, Inc	1.875		01/15/27		937,834
	1,125,000	NextEra Energy Capital Holdings, Inc	3.550		05/01/27		1,138,082
	2,500,000	NextEra Energy Capital Holdings, Inc	1.900		06/15/28		2,303,374
	300,000	NextEra Energy Capital Holdings, Inc	3.500		04/01/29		302,323
	450,000	NextEra Energy Capital Holdings, Inc	2.750		11/01/29		429,995
	2,980,000	NextEra Energy Capital Holdings, Inc	2.250		06/01/30		2,727,752
	1,000,000	NextEra Energy Capital Holdings, Inc	2.440		01/15/32		914,428
	1,000,000	NextEra Energy Capital Holdings, Inc	3.000		01/15/52		853,732
	1,700,000	NextEra Energy Capital Holdings, Inc	5.650		05/01/79		1,744,848
	1,000,000	NextEra Energy Capital Holdings, Inc	3.800		03/15/82		920,891
	500,000	NiSource, Inc	0.950		08/15/25		459,490
	1,000,000	NiSource, Inc	3.490		05/15/27		996,805
	750,000	NiSource, Inc	2.950		09/01/29		714,717
	200,000	NiSource, Inc	3.600		05/01/30		198,340
	800,000	NiSource, Inc	1.700		02/15/31		678,590
	77,000	NiSource, Inc	5.950		06/15/41		89,717
	700,000	NiSource, Inc	5.250		02/15/43		755,800
	450,000	NiSource, Inc	4.800		02/15/44		467,022
	815,000	NiSource, Inc	5.650		02/01/45		923,721
	350,000	NiSource, Inc	4.375		05/15/47		356,552
	500,000	NiSource, Inc	3.950		03/30/48		478,047
	600,000	Northern States Power Co	2.250		04/01/31		552,762
	425,000	Northern States Power Co	5.350		11/01/39		512,534
	175,000	Northern States Power Co	3.600		05/15/46		173,993
	1,950,000	Northern States Power Co	3.600		09/15/47		1,928,964
	325,000	Northern States Power Co	2.900		03/01/50		286,713
	750,000	Northern States Power Co	2.600		06/01/51		634,319
	1,000,000	Northern States Power Co	3.200		04/01/52		940,902
	1,000,000	Northwest Pipeline LLC	4.000		04/01/27		1,025,536
	200,000	NorthWestern Corp	4.176		11/15/44		210,724
	200,000	NSTAR Electric Co	2.375		10/15/22		200,508
	1,300,000	NSTAR Electric Co	3.200		05/15/27		1,301,568
	1,000,000	NSTAR Electric Co	1.950		08/15/31		882,537
	1,100,000	NSTAR Electric Co	3.100		06/01/51		991,736
	1,000,000	nVent Finance Sarl	2.750		11/15/31		898,941
	200,000	Nvent Finance Sarl	4.550		04/15/28		205,914
	500,000	Oglethorpe Power Corp	5.050		10/01/48		559,468
	750,000	Oglethorpe Power Corp	3.750		08/01/50		705,001
	500,000	Oglethorpe Power Corp	5.250		09/01/50		564,227
	2,000,000	Ohio Power Co	1.625		01/15/31		1,710,968
	500,000	Ohio Power Co	4.150		04/01/48		505,274
	1,500,000	Ohio Power Co	4.000		06/01/49		1,494,441
	1,000,000	Ohio Power Co	2.900		10/01/51		828,688
	200,000	Oklahoma Gas & Electric Co	3.800		08/15/28		203,038

98

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	500,000		Oklahoma Gas & Electric Co	3.300	%	03/15/30	$	490,139
	100,000		Oklahoma Gas & Electric Co	3.250		04/01/30		98,603
	200,000		Oklahoma Gas & Electric Co	4.150		04/01/47		207,295
	200,000		Oklahoma Gas & Electric Co	3.850		08/15/47		195,594
	500,000		Oncor Electric Delivery Co LLC	2.750		06/01/24		495,925
	400,000		Oncor Electric Delivery Co LLC	2.950		04/01/25		398,729
	1,000,000		Oncor Electric Delivery Co LLC	0.550		10/01/25		916,477
	750,000		Oncor Electric Delivery Co LLC	3.700		11/15/28		771,408
	1,500,000		Oncor Electric Delivery Co LLC	5.750		03/15/29		1,709,469
	325,000		Oncor Electric Delivery Co LLC	2.750		05/15/30		309,732
	1,000,000	g	Oncor Electric Delivery Co LLC	2.750		05/15/30		961,780
	100,000		Oncor Electric Delivery Co LLC	5.250		09/30/40		118,237
	550,000		Oncor Electric Delivery Co LLC	4.550		12/01/41		602,479
	56,000		Oncor Electric Delivery Co LLC	5.300		06/01/42		67,378
	300,000		Oncor Electric Delivery Co LLC	3.750		04/01/45		296,692
	400,000		Oncor Electric Delivery Co LLC	3.800		09/30/47		404,009
	200,000		Oncor Electric Delivery Co LLC	4.100		11/15/48		211,317
	500,000		Oncor Electric Delivery Co LLC	3.800		06/01/49		510,005
	500,000		Oncor Electric Delivery Co LLC	3.100		09/15/49		458,115
	200,000		Oncor Electric Delivery Co LLC	3.700		05/15/50		200,909
	550,000	g	Oncor Electric Delivery Co LLC	2.700		11/15/51		470,604
	164,000		Oncor Electric Delivery Co LLC	5.350		10/01/52		206,943
	137,000		ONE Gas, Inc	3.610		02/01/24		137,495
	2,000,000		ONE Gas, Inc	1.100		03/11/24		1,929,192
	100,000		ONE Gas, Inc	2.000		05/15/30		89,465
	100,000		ONE Gas, Inc	4.658		02/01/44		106,822
	500,000		ONE Gas, Inc	4.500		11/01/48		536,740
	200,000		ONEOK Partners LP	5.000		09/15/23		204,858
	700,000		ONEOK Partners LP	4.900		03/15/25		722,477
	130,000		ONEOK Partners LP	6.650		10/01/36		148,738
	250,000		ONEOK Partners LP	6.850		10/15/37		289,662
	100,000		ONEOK Partners LP	6.125		02/01/41		109,994
	5,000,000		Pacific Gas and Electric Co	3.150		01/01/26		4,814,299
	3,000,000		Pacific Gas and Electric Co	2.100		08/01/27		2,695,623
	1,500,000		Pacific Gas and Electric Co	3.000		06/15/28		1,395,221
	1,000,000		Pacific Gas and Electric Co	4.200		03/01/29		983,326
	3,000,000		Pacific Gas and Electric Co	4.550		07/01/30		2,976,617
	4,000,000		Pacific Gas and Electric Co	2.500		02/01/31		3,450,151
	2,000,000		Pacific Gas and Electric Co	3.250		06/01/31		1,809,058
	1,000,000		Pacific Gas and Electric Co	4.400		03/01/32		983,086
	750,000		Pacific Gas and Electric Co	4.500		07/01/40		682,826
	1,000,000		Pacific Gas and Electric Co	3.300		08/01/40		818,407
	1,500,000		Pacific Gas and Electric Co	4.200		06/01/41		1,303,478
	2,200,000		Pacific Gas and Electric Co	4.950		07/01/50		2,072,179
	3,300,000		Pacific Gas and Electric Co	3.500		08/01/50		2,656,680
	1,000,000		Pacific Gas and Electric Co	5.250		03/01/52		1,018,357
	500,000		PacifiCorp	3.500		06/15/29		506,026
	500,000		PacifiCorp	2.700		09/15/30		476,137
	850,000		PacifiCorp	6.000		01/15/39		1,053,542
	300,000		PacifiCorp	4.125		01/15/49		310,228
	1,300,000		PacifiCorp	4.150		02/15/50		1,353,790
	250,000		PacifiCorp	3.300		03/15/51		229,271
	2,000,000		PacifiCorp	2.900		06/15/52		1,747,414
	200,000		PECO Energy Co	3.150		10/15/25		200,758
	200,000		PECO Energy Co	4.150		10/01/44		207,171

99

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	200,000	PECO Energy Co	3.700	%	09/15/47	$	200,605
	1,200,000	PECO Energy Co	3.900		03/01/48		1,236,947
	125,000	PECO Energy Co	3.000		09/15/49		112,387
	100,000	PECO Energy Co	2.800		06/15/50		86,227
	475,000	PECO Energy Co	3.050		03/15/51		427,914
	1,000,000	PECO Energy Co	2.850		09/15/51		865,353
	1,000,000	Piedmont Natural Gas Co, Inc	2.500		03/15/31		918,138
	200,000	Piedmont Natural Gas Co, Inc	4.650		08/01/43		215,192
	1,600,000	Piedmont Natural Gas Co, Inc	3.350		06/01/50		1,425,660
	1,000,000	Pinnacle West Capital Corp	1.300		06/15/25		935,434
	200,000	Potomac Electric Power Co	3.600		03/15/24		202,696
	900,000	Potomac Electric Power Co	4.150		03/15/43		937,385
	950,000	PPL Capital Funding, Inc	3.100		05/15/26		937,079
	200,000	PPL Electric Utilities Corp	4.125		06/15/44		205,325
	275,000	PPL Electric Utilities Corp	4.150		10/01/45		282,413
	500,000	PPL Electric Utilities Corp	3.950		06/01/47		510,556
	200,000	PPL Electric Utilities Corp	4.150		06/15/48		210,081
	525,000	PPL Electric Utilities Corp	3.000		10/01/49		461,151
	250,000	Public Service Co of Colorado	3.700		06/15/28		255,052
	1,000,000	Public Service Co of Colorado	1.900		01/15/31		889,887
	1,050,000	Public Service Co of Colorado	1.875		06/15/31		933,136
	200,000	Public Service Co of Colorado	3.800		06/15/47		200,857
	100,000	Public Service Co of Colorado	4.100		06/15/48		105,745
	300,000	Public Service Co of Colorado	4.050		09/15/49		315,581
	400,000	Public Service Co of Colorado	3.200		03/01/50		373,248
	350,000	Public Service Co of Colorado	2.700		01/15/51		296,491
	1,200,000	Public Service Co of New Hampshire	2.200		06/15/31		1,083,195
	100,000	Public Service Co of New Hampshire	3.600		07/01/49		96,763
	500,000	Public Service Co of Oklahoma	2.200		08/15/31		447,551
	500,000	Public Service Co of Oklahoma	3.150		08/15/51		440,912
	300,000	Public Service Electric & Gas Co	3.250		09/01/23		302,397
	300,000	Public Service Electric & Gas Co	2.250		09/15/26		287,076
	450,000	Public Service Electric & Gas Co	3.000		05/15/27		446,044
	250,000	Public Service Electric & Gas Co	3.700		05/01/28		254,501
	500,000	Public Service Electric & Gas Co	3.200		05/15/29		498,379
	500,000	Public Service Electric & Gas Co	2.450		01/15/30		473,978
	200,000	Public Service Electric & Gas Co	3.800		01/01/43		200,152
	600,000	Public Service Electric & Gas Co	3.800		03/01/46		610,493
	200,000	Public Service Electric & Gas Co	3.600		12/01/47		197,459
	250,000	Public Service Electric & Gas Co	4.050		05/01/48		264,180
	500,000	Public Service Electric & Gas Co	3.850		05/01/49		513,047
	575,000	Public Service Electric & Gas Co	3.200		08/01/49		535,853
	500,000	Public Service Electric & Gas Co	3.150		01/01/50		463,332
	175,000	Public Service Electric & Gas Co	2.700		05/01/50		149,204
	425,000	Public Service Electric & Gas Co	2.050		08/01/50		315,032
	1,000,000	Public Service Electric and Gas Co	0.950		03/15/26		925,936
	1,000,000	Public Service Electric and Gas Co	1.900		08/15/31		888,509
	500,000	Public Service Electric and Gas Co	3.100		03/15/32		493,956
	2,000,000	Public Service Electric and Gas Co	3.000		03/01/51		1,770,387
	400,000	Public Service Enterprise Group, Inc	0.800		08/15/25		368,815
	400,000	Public Service Enterprise Group, Inc	1.600		08/15/30		342,118
	1,000,000	Public Service Enterprise Group, Inc	2.450		11/15/31		908,021
	1,585,000	Puget Energy, Inc	3.650		05/15/25		1,588,465
	1,000,000	Puget Energy, Inc	2.379		06/15/28		914,261
	1,000,000	Puget Energy, Inc	4.100		06/15/30		998,087

100

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	250,000		Puget Sound Energy, Inc	5.757	%	10/01/39	$	299,451
	200,000		Puget Sound Energy, Inc	4.300		05/20/45		207,442
	725,000		Puget Sound Energy, Inc	4.223		06/15/48		754,790
	275,000		Puget Sound Energy, Inc	3.250		09/15/49		246,523
	750,000		Puget Sound Energy, Inc	2.893		09/15/51		639,771
	2,000,000	g	Qorvo, Inc	1.750		12/15/24		1,907,740
	400,000		San Diego Gas & Electric Co	3.600		09/01/23		405,331
	800,000		San Diego Gas & Electric Co	2.500		05/15/26		783,423
	500,000		San Diego Gas & Electric Co	1.700		10/01/30		440,461
	1,000,000		San Diego Gas & Electric Co	3.000		03/15/32		968,580
	300,000		San Diego Gas & Electric Co	3.750		06/01/47		293,820
	300,000		San Diego Gas & Electric Co	4.150		05/15/48		314,999
	750,000		San Diego Gas & Electric Co	4.100		06/15/49		776,098
	675,000		San Diego Gas & Electric Co	2.950		08/15/51		592,938
	1,000,000		San Diego Gas & Electric Co	3.700		03/15/52		1,000,143
	2,000,000		Santander UK Group Holdings plc	2.469		01/11/28		1,860,114
	1,525,000		Sempra Energy	3.250		06/15/27		1,503,236
	675,000		Sempra Energy	3.400		02/01/28		672,744
	825,000		Sempra Energy	3.800		02/01/38		809,110
	125,000		Sempra Energy	6.000		10/15/39		152,819
	850,000		Sempra Energy	4.000		02/01/48		843,157
	1,380,000		Sempra Energy	4.125		04/01/52		1,288,227
	869,000		Sierra Pacific Power Co	2.600		05/01/26		853,483
	50,000		South Carolina Electric & Gas Co	5.300		05/15/33		57,454
	125,000		South Carolina Electric & Gas Co	5.450		02/01/41		146,103
	800,000		South Carolina Electric & Gas Co	4.600		06/15/43		848,420
	100,000		Southern California Edison Co	3.400		06/01/23		100,655
	500,000		Southern California Edison Co	0.700		08/01/23		487,024
	1,000,000		Southern California Edison Co	1.100		04/01/24		964,990
	500,000		Southern California Edison Co	0.975		08/01/24		476,745
	500,000		Southern California Edison Co	3.700		08/01/25		508,306
	1,000,000		Southern California Edison Co	1.200		02/01/26		919,630
	750,000		Southern California Edison Co	3.650		03/01/28		748,850
	500,000		Southern California Edison Co	4.200		03/01/29		517,251
	600,000		Southern California Edison Co	2.850		08/01/29		570,967
	1,750,000		Southern California Edison Co	2.250		06/01/30		1,582,033
	1,500,000		Southern California Edison Co	2.500		06/01/31		1,365,011
	1,000,000		Southern California Edison Co	2.750		02/01/32		928,103
	185,000		Southern California Edison Co	6.050		03/15/39		218,205
	300,000		Southern California Edison Co	4.500		09/01/40		303,947
	825,000		Southern California Edison Co	4.650		10/01/43		855,153
	450,000		Southern California Edison Co	3.600		02/01/45		407,512
	1,937,000		Southern California Edison Co	4.000		04/01/47		1,861,129
	1,675,000		Southern California Edison Co	4.125		03/01/48		1,647,891
	925,000		Southern California Edison Co	3.650		02/01/50		856,250
	1,500,000		Southern California Edison Co	2.950		02/01/51		1,225,521
	1,000,000		Southern California Edison Co	3.650		06/01/51		930,687
	1,000,000		Southern California Edison Co	3.450		02/01/52		898,444
	200,000		Southern California Gas Co	3.200		06/15/25		200,531
	200,000		Southern California Gas Co	2.600		06/15/26		195,091
	1,000,000		Southern California Gas Co	2.950		04/15/27		986,259
	500,000		Southern California Gas Co	2.550		02/01/30		472,053
	150,000		Southern California Gas Co	3.750		09/15/42		147,930
	500,000		Southern California Gas Co	4.125		06/01/48		514,401
	300,000		Southern California Gas Co	4.300		01/15/49		321,668

101

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	500,000	Southern California Gas Co	3.950	%	02/15/50	$	514,418
	425,000	Southern Co	2.950		07/01/23		427,230
	2,325,000	Southern Co	3.250		07/01/26		2,325,218
	1,500,000	Southern Co	1.750		03/15/28		1,348,993
	2,500,000	Southern Co	3.700		04/30/30		2,507,511
	400,000	Southern Co	4.250		07/01/36		403,052
	2,300,000	Southern Co	4.400		07/01/46		2,350,047
	1,000,000	Southern Co	4.000		01/15/51		967,500
	1,500,000	Southern Co	3.750		09/15/51		1,383,075
	200,000	Southern Co Gas Capital Corp	2.450		10/01/23		199,209
	400,000	Southern Co Gas Capital Corp	3.250		06/15/26		397,901
	500,000	Southern Co Gas Capital Corp	1.750		01/15/31		427,470
	275,000	Southern Co Gas Capital Corp	4.400		06/01/43		275,097
	100,000	Southern Co Gas Capital Corp	3.950		10/01/46		94,392
	900,000	Southern Co Gas Capital Corp	4.400		05/30/47		905,315
	175,000	Southern Co Gas Capital Corp	3.150		09/30/51		148,321
	200,000	Southern Power Co	4.150		12/01/25		205,421
	950,000	Southern Power Co	0.900		01/15/26		870,278
	300,000	Southern Power Co	4.950		12/15/46		316,959
	150,000	Southwest Gas Corp	3.700		04/01/28		149,305
	100,000	Southwest Gas Corp	2.200		06/15/30		87,517
	1,000,000	Southwest Gas Corp	4.050		03/15/32		997,246
	100,000	Southwest Gas Corp	3.800		09/29/46		90,428
	500,000	Southwest Gas Corp	4.150		06/01/49		486,359
	1,000,000	Southwest Gas Corp	3.180		08/15/51		817,136
	1,000,000	Southwestern Electric Power Co	1.650		03/15/26		940,014
	500,000	Southwestern Electric Power Co	2.750		10/01/26		487,919
	675,000	Southwestern Electric Power Co	4.100		09/15/28		688,370
	750,000	Southwestern Electric Power Co	3.850		02/01/48		699,232
	750,000	Southwestern Electric Power Co	3.250		11/01/51		644,879
	600,000	Southwestern Public Service Co	4.500		08/15/41		636,089
	300,000	Southwestern Public Service Co	3.400		08/15/46		278,447
	225,000	Southwestern Public Service Co	3.700		08/15/47		218,952
	200,000	Southwestern Public Service Co	4.400		11/15/48		214,215
	750,000	Southwestern Public Service Co	3.750		06/15/49		742,334
	650,000	Southwestern Public Service Co	3.150		05/01/50		581,952
	1,500,000	Spire Missouri, Inc	3.300		06/01/51		1,362,694
	1,000,000	Tampa Electric Co	2.400		03/15/31		921,388
	100,000	Tampa Electric Co	4.100		06/15/42		100,601
	175,000	Tampa Electric Co	4.350		05/15/44		181,107
	200,000	Tampa Electric Co	4.300		06/15/48		212,289
	200,000	Tampa Electric Co	4.450		06/15/49		214,451
	575,000	Tampa Electric Co	3.625		06/15/50		554,471
	925,000	Tampa Electric Co	3.450		03/15/51		861,058
	300,000	TC PipeLines LP	4.375		03/13/25		307,021
	350,000	TC PipeLines LP	3.900		05/25/27		356,934
	200,000	Tucson Electric Power Co	3.050		03/15/25		198,338
	125,000	Tucson Electric Power Co	1.500		08/01/30		106,938
	500,000	Tucson Electric Power Co	3.250		05/15/32		488,343
	200,000	Tucson Electric Power Co	4.850		12/01/48		224,797
	500,000	Tucson Electric Power Co	4.000		06/15/50		494,855
	2,000,000	Tucson Electric Power Co	3.250		05/01/51		1,774,045
	200,000	Union Electric Co	2.950		06/15/27		197,093
	300,000	Union Electric Co	3.500		03/15/29		304,426

102

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	500,000		Union Electric Co	2.950	%	03/15/30	$	489,289
	1,000,000		Union Electric Co	2.150		03/15/32		910,782
	100,000		Union Electric Co	8.450		03/15/39		146,711
	100,000		Union Electric Co	3.900		09/15/42		98,960
	100,000		Union Electric Co	3.650		04/15/45		95,254
	200,000		Union Electric Co	4.000		04/01/48		205,295
	1,000,000		Union Electric Co	3.250		10/01/49		917,503
	675,000		Union Electric Co	2.625		03/15/51		558,630
	125,000	h	Union Electric Co	3.900		04/01/52		129,318
	100,000		United Utilities plc	6.875		08/15/28		119,222
	409,000		Virginia Electric & Power Co	2.750		03/15/23		410,304
	500,000		Virginia Electric & Power Co	3.450		02/15/24		505,235
	1,850,000		Virginia Electric & Power Co	3.150		01/15/26		1,852,540
	900,000		Virginia Electric & Power Co	2.950		11/15/26		889,058
	1,750,000		Virginia Electric & Power Co	3.500		03/15/27		1,779,113
	3,000,000		Virginia Electric & Power Co	3.800		04/01/28		3,070,790
	1,000,000		Virginia Electric & Power Co	2.875		07/15/29		971,995
	250,000		Virginia Electric & Power Co	4.650		08/15/43		273,446
	400,000		Virginia Electric & Power Co	4.450		02/15/44		428,013
	200,000		Virginia Electric & Power Co	4.200		05/15/45		207,862
	1,100,000		Virginia Electric & Power Co	4.000		11/15/46		1,128,995
	700,000		Virginia Electric & Power Co	3.800		09/15/47		698,874
	1,300,000		Virginia Electric & Power Co	4.600		12/01/48		1,462,129
	500,000		Virginia Electric & Power Co	3.300		12/01/49		468,728
	1,000,000		Virginia Electric and Power Co	2.300		11/15/31		916,459
	1,000,000		Virginia Electric and Power Co	2.400		03/30/32		921,711
	500,000		Virginia Electric and Power Co	2.450		12/15/50		399,811
	1,500,000		Virginia Electric and Power Co	2.950		11/15/51		1,317,364
	200,000		Washington Gas Light Co	3.796		09/15/46		196,362
	700,000		Washington Gas Light Co	3.650		09/15/49		673,025
	1,000,000		WEC Energy Group, Inc	0.550		09/15/23		971,309
	365,000		WEC Energy Group, Inc	3.550		06/15/25		365,708
	500,000		WEC Energy Group, Inc	1.375		10/15/27		449,751
	1,000,000		WEC Energy Group, Inc	2.200		12/15/28		917,410
	500,000		WEC Energy Group, Inc	1.800		10/15/30		433,267
	500,000		Westar Energy, Inc	4.125		03/01/42		506,025
	175,000		Westar Energy, Inc	4.100		04/01/43		175,231
	375,000		Westar Energy, Inc	3.250		09/01/49		337,609
	175,000		Wisconsin Electric Power Co	2.050		12/15/24		171,109
	1,000,000		Wisconsin Electric Power Co	1.700		06/15/28		903,539
	200,000		Wisconsin Electric Power Co	5.625		05/15/33		232,099
	200,000		Wisconsin Electric Power Co	4.300		10/15/48		211,088
	325,000		Wisconsin Power & Light Co	3.050		10/15/27		322,517
	500,000		Wisconsin Power & Light Co	3.000		07/01/29		486,076
	225,000		Wisconsin Power & Light Co	3.650		04/01/50		218,793
	1,000,000		Wisconsin Power and Light Co	1.950		09/16/31		888,731
	200,000		Wisconsin Public Service Corp	4.752		11/01/44		220,418
	300,000		Wisconsin Public Service Corp	3.300		09/01/49		270,489
	550,000		Wisconsin Public Service Corp	2.850		12/01/51		475,873
	700,000		Xcel Energy, Inc	0.500		10/15/23		677,955
	750,000		Xcel Energy, Inc	3.350		12/01/26		750,301
	1,000,000		Xcel Energy, Inc	1.750		03/15/27		925,531
	900,000		Xcel Energy, Inc	4.000		06/15/28		913,463

103

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	1,000,000		Xcel Energy, Inc	2.350	%	11/15/31	$	909,149
	200,000		Xcel Energy, Inc	4.800		09/15/41		214,187
	500,000		Xcel Energy, Inc	3.500		12/01/49		464,031
	1,000,000		Yale Haven Health Services Corp	2.496		07/01/50		782,309
			TOTAL UTILITIES					484,672,608
			TOTAL CORPORATE BONDS					5,335,014,060
			(Cost $5,536,899,751)
GOVERNMENT BONDS - 71.8%
AGENCY SECURITIES - 1.2%
	3,000,000		Federal Farm Credit Bank (FFCB)	0.125		11/23/22		2,976,962
	20,000,000		FFCB	0.125		02/03/23		19,756,578
	7,100,000		FFCB	0.125		05/10/23		6,964,964
	3,000,000		FFCB	2.875		07/17/23		3,034,419
	10,000,000		FFCB	0.300		09/01/23		9,744,820
	1,145,000		FFCB	3.500		12/20/23		1,171,733
	1,670,000		FFCB	0.250		02/26/24		1,610,803
	1,750,000		FFCB	1.125		01/06/25		1,686,719
	4,000,000		FFCB	1.750		02/14/25		3,914,962
	5,000,000		FFCB	1.650		07/23/35		4,299,956
	3,200,000		Federal Home Loan Bank (FHLB)	0.125		06/02/23		3,129,936
	5,500,000		FHLB	0.500		11/09/23		5,353,147
	10,000,000		FHLB	0.500		04/14/25		9,426,480
	2,000,000		FHLB	0.375		09/04/25		1,858,422
	13,875,000		FHLB	3.250		11/16/28		14,509,728
	3,000,000		Federal Home Loan Mortgage Corp (FHLMC)	0.375		05/05/23		2,953,357
	12,625,000		FHLMC	2.750		06/19/23		12,740,286
	7,000,000		FHLMC	0.250		08/24/23		6,821,632
	3,250,000		FHLMC	0.250		09/08/23		3,162,588
	6,750,000		FHLMC	0.125		10/16/23		6,543,248
	4,000,000		FHLMC	0.250		11/06/23		3,879,418
	3,782,000		FHLMC	0.250		12/04/23		3,660,731
	10,000,000		FHLMC	1.500		02/12/25		9,720,660
	6,000,000		FHLMC	0.375		07/21/25		5,588,078
	5,000,000		FHLMC	0.375		09/23/25		4,640,605
	706,786	i	Federal National Mortgage Association (FNMA)	2.301		09/25/22		708,053
	10,000,000		FNMA	2.375		01/19/23		10,065,207
	5,250,000		FNMA	0.250		07/10/23		5,129,550
	1,000,000		FNMA	2.875		09/12/23		1,010,144
	3,000,000		FNMA	0.250		11/27/23		2,906,223
	2,500,000		FNMA	2.500		02/05/24		2,510,920
	5,000,000		FNMA	1.750		07/02/24		4,931,179
	13,700,000		FNMA	2.625		09/06/24		13,775,381
	3,000,000		FNMA	1.625		01/07/25		2,928,856
	4,000,000		FNMA	0.625		04/22/25		3,777,440
	10,000,000		FNMA	0.375		08/25/25		9,306,276
	4,500,000		FNMA	0.500		11/07/25		4,189,422
	4,000,000		FNMA	1.875		09/24/26		3,893,868
	3,000,000		FNMA	0.750		10/08/27		2,730,897
	10,000,000		FNMA	0.875		08/05/30		8,731,833
	5,000,000		FNMA	6.625		11/15/30		6,552,983
	1,000,000		FNMA	5.625		07/15/37		1,342,360
	1,300,000		Hashemite Kingdom of Jordan Government AID Bond	3.000		06/30/25		1,314,667

104

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	800,000		Israel Government AID International Bond	5.500	%	09/18/23	$	836,828
	300,000		Israel Government AID International Bond	5.500		04/26/24		318,124
	400,000		Private Export Funding Corp (PEFCO)	2.050		11/15/22		401,111
	250,000		PEFCO	1.750		11/15/24		243,748
	200,000		PEFCO	3.250		06/15/25		203,164
	750,000		Tennessee Valley Authority (TVA)	2.875		09/15/24		755,329
	2,000,000		TVA	0.750		05/15/25		1,893,462
	1,425,000		TVA	2.875		02/01/27		1,442,831
	5,000,000		TVA	1.500		09/15/31		4,492,584
	500,000		TVA	5.880		04/01/36		654,679
	500,000		TVA	5.500		06/15/38		667,512
	4,300,000		TVA	3.500		12/15/42		4,434,964
	1,750,000		TVA	4.625		09/15/60		2,302,300
	300,000		TVA	4.250		09/15/65		370,066
			TOTAL AGENCY SECURITIES					253,972,193
FOREIGN GOVERNMENT BONDS - 3.3%
	2,000,000		African Development Bank	3.000		09/20/23		2,021,672
	5,000,000		African Development Bank	0.875		03/23/26		4,662,610
	3,000,000		African Development Bank	0.875		07/22/26		2,792,818
	2,250,000		Asian Development Bank	1.625		01/24/23		2,249,198
	2,250,000		Asian Development Bank	0.250		07/14/23		2,196,970
	2,000,000		Asian Development Bank	0.250		10/06/23		1,941,291
	2,200,000		Asian Development Bank	2.625		01/30/24		2,212,023
	1,220,000		Asian Development Bank	0.625		10/08/24		1,164,358
	2,000,000		Asian Development Bank	1.500		10/18/24		1,948,959
	500,000		Asian Development Bank	2.000		01/22/25		492,683
	6,000,000		Asian Development Bank	0.375		09/03/25		5,560,722
	3,000,000	e	Asian Development Bank	0.500		02/04/26		2,768,536
	5,000,000		Asian Development Bank	1.000		04/14/26		4,694,316
	1,500,000		Asian Development Bank	2.000		04/24/26		1,463,962
	1,000,000		Asian Development Bank	2.625		01/12/27		1,003,421
	500,000		Asian Development Bank	2.375		08/10/27		494,797
	500,000		Asian Development Bank	2.500		11/02/27		497,974
	1,000,000		Asian Development Bank	2.750		01/19/28		1,008,183
	2,500,000		Asian Development Bank	1.250		06/09/28		2,305,460
	75,000		Asian Development Bank	5.820		06/16/28		88,271
	2,575,000		Asian Development Bank	3.125		09/26/28		2,669,767
	2,000,000		Asian Development Bank	1.750		09/19/29		1,894,942
	3,500,000		Asian Development Bank	1.875		01/24/30		3,341,397
	1,000,000		Asian Development Bank	0.750		10/08/30		871,743
	3,000,000		Asian Development Bank	1.500		03/04/31		2,766,717
	3,000,000		Asian Infrastructure Investment Bank	0.250		09/29/23		2,907,447
	3,000,000		Asian Infrastructure Investment Bank	0.500		10/30/24		2,838,616
	3,000,000		Asian Infrastructure Investment Bank	0.500		05/28/25		2,790,069
	3,000,000		Asian Infrastructure Investment Bank	0.500		01/27/26		2,759,107
	2,000,000		Canada Government International Bond	2.000		11/15/22		2,008,640
	3,000,000		Canada Government International Bond	1.625		01/22/25		2,926,350
	3,500,000		Canada Government International Bond	0.750		05/19/26		3,244,513
	600,000		Chile Government International Bond	2.750		01/31/27		586,572
	1,715,000		Chile Government International Bond	3.240		02/06/28		1,711,073
	2,500,000		Chile Government International Bond	2.450		01/31/31		2,341,325

105

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	3,500,000	e	Chile Government International Bond	2.550	%	01/27/32	$	3,288,670
	1,000,000		Chile Government International Bond	2.550		07/27/33		910,610
	600,000		Chile Government International Bond	3.500		01/31/34		591,894
	1,700,000		Chile Government International Bond	3.100		05/07/41		1,495,592
	1,000,000		Chile Government International Bond	4.340		03/07/42		1,026,570
	2,613,000		Chile Government International Bond	3.500		01/25/50		2,388,778
	1,000,000		Chile Government International Bond	4.000		01/31/52		987,070
	1,500,000		Chile Government International Bond	3.500		04/15/53		1,344,645
	2,500,000	e	Chile Government International Bond	3.100		01/22/61		2,058,875
	750,000		Chile Government International Bond	3.250		09/21/71		606,982
	750,000		Corp Andina de Fomento	2.750		01/06/23		750,812
	1,000,000		Corp Andina de Fomento	2.375		05/12/23		1,000,369
	750,000		Corp Andina de Fomento	3.750		11/23/23		762,655
	1,125,000		Corp Andina de Fomento	1.250		10/26/24		1,077,728
	1,000,000		Corp Andina de Fomento	1.625		09/23/25		948,960
	1,000,000		Council of Europe Development Bank	2.500		02/27/24		1,002,469
	1,480,000		Council of Europe Development Bank	1.375		02/27/25		1,429,776
	1,000,000		Council Of Europe Development Bank	0.250		10/20/23		969,196
	2,000,000		Council Of Europe Development Bank	0.875		09/22/26		1,861,344
	5,000,000		European Bank for Reconstruction & Development	0.250		07/10/23		4,881,789
	2,000,000		European Bank for Reconstruction & Development	1.625		09/27/24		1,957,217
	3,000,000		European Bank for Reconstruction & Development	0.500		11/25/25		2,775,554
	2,000,000		European Bank for Reconstruction & Development	0.500		01/28/26		1,845,022
	7,537,000		European Investment Bank	1.375		05/15/23		7,486,201
	2,440,000		European Investment Bank	0.250		09/15/23		2,372,399
	1,500,000		European Investment Bank	3.125		12/14/23		1,520,475
	5,000,000		European Investment Bank	3.250		01/29/24		5,082,050
	1,500,000		European Investment Bank	2.625		03/15/24		1,507,500
	4,000,000		European Investment Bank	2.250		06/24/24		3,985,436
	5,000,000		European Investment Bank	0.375		07/24/24		4,769,350
	1,500,000	e	European Investment Bank	2.500		10/15/24		1,500,893
	3,250,000		European Investment Bank	1.625		03/14/25		3,164,265
	3,500,000		European Investment Bank	0.625		07/25/25		3,283,210
	3,000,000		European Investment Bank	0.375		12/15/25		2,767,980
	3,500,000		European Investment Bank	0.375		03/26/26		3,208,281
	2,760,000		European Investment Bank	0.750		10/26/26		2,549,358
	400,000		European Investment Bank	2.375		05/24/27		397,078
	250,000		European Investment Bank	0.625		10/21/27		224,754
	550,000		European Investment Bank	1.625		10/09/29		518,028
	1,000,000		European Investment Bank	0.875		05/17/30		879,597
	2,000,000		European Investment Bank	0.750		09/23/30		1,746,825
	2,500,000	e	European Investment Bank	1.250		02/14/31		2,258,631
	1,705,000		European Investment Bank	4.875		02/15/36		2,139,575
	1,000,000		Export Development Canada	2.500		01/24/23		1,006,897
	4,500,000		Export Development Canada	1.375		02/24/23		4,485,150
	1,000,000		Export Development Canada	2.750		03/15/23		1,008,513
	1,300,000		Export Development Canada	2.625		02/21/24		1,305,396
	3,250,000		Export-Import Bank of Korea	3.000		11/01/22		3,259,782
	1,375,000		Export-Import Bank of Korea	3.625		11/27/23		1,396,411
	500,000		Export-Import Bank of Korea	4.000		01/14/24		511,622
	750,000		Export-Import Bank of Korea	2.875		01/21/25		747,925
	750,000		Export-Import Bank of Korea	1.875		02/12/25		728,873
	1,000,000		Export-Import Bank of Korea	0.750		09/21/25		927,105
	250,000		Export-Import Bank of Korea	3.250		11/10/25		252,275

106

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	1,000,000		Export-Import Bank of Korea	0.625	%	02/09/26	$	919,563
	500,000		Export-Import Bank of Korea	2.625		05/26/26		492,742
	500,000		Export-Import Bank of Korea	3.250		08/12/26		505,099
	750,000		Export-Import Bank of Korea	1.125		12/29/26		691,433
	1,000,000		Export-Import Bank of Korea	1.625		01/18/27		939,174
	500,000		Export-Import Bank of Korea	2.375		04/21/27		484,873
	1,000,000		Export-Import Bank of Korea	1.250		09/21/30		870,750
	1,000,000		Export-Import Bank of Korea	1.375		02/09/31		871,741
	1,000,000	e	Export-Import Bank of Korea	2.125		01/18/32		913,805
	1,000,000		Export-Import Bank of Korea	2.500		06/29/41		909,405
	100,000		Finland Government International Bond	6.950		02/15/26		113,527
	2,175,000		FMS Wertmanagement AoeR	2.750		01/30/24		2,190,707
	4,500,000		Hungary Government International Bond	5.750		11/22/23		4,704,941
	1,250,000		Hungary Government International Bond	7.625		03/29/41		1,813,158
	200,000		Hydro Quebec	8.500		12/01/29		272,817
	750,000		Indonesia Government International Bond	2.950		01/11/23		755,595
	750,000		Indonesia Government International Bond	3.500		01/11/28		765,552
	900,000		Indonesia Government International Bond	4.750		02/11/29		990,111
	1,250,000		Indonesia Government International Bond	3.400		09/18/29		1,271,737
	1,000,000		Indonesia Government International Bond	2.850		02/14/30		982,233
	675,000	e	Indonesia Government International Bond	3.850		10/15/30		709,461
	1,500,000		Indonesia Government International Bond	1.850		03/12/31		1,355,148
	1,500,000		Indonesia Government International Bond	2.150		07/28/31		1,388,780
	300,000		Indonesia Government International Bond	3.550		03/31/32		308,056
	875,000		Indonesia Government International Bond	4.350		01/11/48		889,753
	1,125,000		Indonesia Government International Bond	5.350		02/11/49		1,295,437
	1,000,000		Indonesia Government International Bond	3.700		10/30/49		964,029
	1,000,000		Indonesia Government International Bond	3.500		02/14/50		932,609
	2,000,000		Indonesia Government International Bond	4.200		10/15/50		2,075,922
	2,000,000	e	Indonesia Government International Bond	3.050		03/12/51		1,807,204
	485,000		Indonesia Government International Bond	4.300		03/31/52		507,320
	1,000,000	e	Indonesia Government International Bond	3.200		09/23/61		847,939
	500,000		Indonesia Government International Bond	4.450		04/15/70		514,540
	1,750,000		Indonesia Government International Bond	3.350		03/12/71		1,454,877
	3,000,000		Inter-American Development Bank	2.500		01/18/23		3,018,720
	6,000,000		Inter-American Development Bank	0.250		11/15/23		5,809,486
	1,500,000		Inter-American Development Bank	2.625		01/16/24		1,507,905
	500,000		Inter-American Development Bank	2.125		01/15/25		494,333
	5,000,000		Inter-American Development Bank	1.750		03/14/25		4,886,400
	10,000,000		Inter-American Development Bank	0.625		07/15/25		9,377,403
	4,000,000		Inter-American Development Bank	0.875		04/20/26		3,731,200
	1,500,000		Inter-American Development Bank	2.000		06/02/26		1,463,325
	1,500,000		Inter-American Development Bank	2.000		07/23/26		1,464,615
	1,000,000		Inter-American Development Bank	2.375		07/07/27		988,384
	2,000,000		Inter-American Development Bank	0.625		09/16/27		1,794,179
	4,000,000		Inter-American Development Bank	1.125		07/20/28		3,671,880
	2,000,000		Inter-American Development Bank	3.125		09/18/28		2,067,131
	3,000,000		Inter-American Development Bank	2.250		06/18/29		2,947,274
	3,000,000		Inter-American Development Bank	1.125		01/13/31		2,685,256
	1,450,000		Inter-American Development Bank	3.200		08/07/42		1,526,403
	300,000		Inter-American Development Bank	4.375		01/24/44		373,938
	5,400,000		International Bank for Reconstruction & Development	7.625		01/19/23		5,651,667
	3,000,000		International Bank for Reconstruction & Development	1.875		06/19/23		2,992,823
	1,500,000		International Bank for Reconstruction & Development	0.250		11/24/23		1,451,517
	5,575,000		International Bank for Reconstruction & Development	2.500		03/19/24		5,589,956

107

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	2,000,000	International Bank for Reconstruction & Development	1.500	%	08/28/24	$	1,956,041
	1,600,000	International Bank for Reconstruction & Development	2.500		11/25/24		1,600,254
	5,000,000	International Bank for Reconstruction & Development	1.625		01/15/25		4,875,950
	6,000,000	International Bank for Reconstruction & Development	0.375		07/28/25		5,577,790
	4,500,000	International Bank for Reconstruction & Development	2.500		07/29/25		4,484,457
	5,500,000	International Bank for Reconstruction & Development	0.500		10/28/25		5,103,076
	500,000	International Bank for Reconstruction & Development	3.125		11/20/25		508,513
	7,000,000	International Bank for Reconstruction & Development	0.875		07/15/26		6,552,674
	2,000,000	International Bank for Reconstruction & Development	0.750		11/24/27		1,808,018
	2,000,000	International Bank for Reconstruction & Development	1.750		10/23/29		1,892,958
	5,000,000	International Bank for Reconstruction & Development	0.875		05/14/30		4,389,104
	3,000,000	International Bank for Reconstruction & Development	0.750		08/26/30		2,596,469
	5,000,000	International Bank for Reconstruction & Development	1.250		02/10/31		4,499,835
	5,000,000	International Bank for Reconstruction & Development	1.625		11/03/31		4,608,162
	834,000	International Bank for Reconstruction & Development	4.750		02/15/35		1,018,748
	1,300,000	International Finance Corp	2.875		07/31/23		1,311,825
	1,500,000	International Finance Corp	1.375		10/16/24		1,460,586
	2,500,000	International Finance Corp	0.375		07/16/25		2,324,636
	5,000,000	International Finance Corp	0.750		08/27/30		4,392,843
	300,000	Israel Government International Bond	3.150		06/30/23		303,111
	1,000,000	Israel Government International Bond	2.875		03/16/26		1,003,618
	975,000	Israel Government International Bond	3.250		01/17/28		1,001,177
	600,000	Israel Government International Bond	2.750		07/03/30		592,848
	1,500,000	Israel Government International Bond	4.500		01/30/43		1,690,330
	200,000	Israel Government International Bond	4.125		01/17/48		213,248
	1,800,000	Israel Government International Bond	3.875		07/03/50		1,854,830
	300,000	Israel Government International Bond	4.500		04/03/20		320,780
	300,000	Japan Bank for International Cooperation	2.375		11/16/22		301,419
	900,000	Japan Bank for International Cooperation	0.625		05/22/23		883,965
	1,050,000	Japan Bank for International Cooperation	3.375		07/31/23		1,064,900
	1,000,000	Japan Bank for International Cooperation	0.375		09/15/23		972,506
	4,250,000	Japan Bank for International Cooperation	3.375		10/31/23		4,315,875
	2,300,000	Japan Bank for International Cooperation	2.500		05/23/24		2,298,413
	720,000	Japan Bank for International Cooperation	1.750		10/17/24		704,432
	500,000	Japan Bank for International Cooperation	2.125		02/10/25		492,352
	3,000,000	Japan Bank for International Cooperation	0.625		07/15/25		2,799,900
	5,750,000	Japan Bank for International Cooperation	2.750		01/21/26		5,730,830
	400,000	Japan Bank for International Cooperation	2.375		04/20/26		392,581
	1,500,000	Japan Bank for International Cooperation	1.875		07/21/26		1,448,412
	1,000,000	Japan Bank for International Cooperation	2.875		06/01/27		1,005,803
	750,000	Japan Bank for International Cooperation	2.875		07/21/27		753,723
	300,000	Japan Bank for International Cooperation	2.750		11/16/27		298,477
	750,000	Japan Bank for International Cooperation	3.500		10/31/28		784,557
	2,000,000	Japan Bank for International Cooperation	2.125		02/16/29		1,924,554
	1,000,000	Japan Bank for International Cooperation	2.000		10/17/29		953,847
	1,500,000	Japan Bank for International Cooperation	1.250		01/21/31		1,339,048
	3,000,000	Japan Bank for International Cooperation	1.875		04/15/31		2,814,603
	350,000	Japan International Cooperation Agency	2.125		10/20/26		341,291
	700,000	Japan International Cooperation Agency	3.375		06/12/28		721,656
	2,000,000	Japan International Cooperation Agency	1.000		07/22/30		1,747,461
	1,500,000	Japan International Cooperation Agency	1.750		04/28/31		1,374,684
	1,000,000	Korea Development Bank	3.375		03/12/23		1,009,220
	500,000	Korea Development Bank	2.750		03/19/23		501,765
	950,000	Korea Development Bank	0.500		10/27/23		920,113
	500,000	Korea Development Bank	3.750		01/22/24		509,175

108

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	700,000		Korea Development Bank	3.250	%	02/19/24	$	707,504
	500,000		Korea Development Bank	0.400		06/19/24		475,745
	1,000,000		Korea Development Bank	2.125		10/01/24		986,191
	750,000		Korea Development Bank	1.750		02/18/25		728,176
	200,000		Korea Development Bank	3.375		09/16/25		202,708
	400,000		Korea Development Bank	3.000		01/13/26		401,873
	1,000,000		Korea Development Bank	0.800		04/27/26		921,263
	1,000,000		Korea Development Bank	0.800		07/19/26		916,576
	1,000,000		Korea Development Bank	1.000		09/09/26		922,270
	250,000		Korea Development Bank	2.000		09/12/26		240,662
	1,000,000		Korea Development Bank	2.250		02/24/27		963,588
	1,000,000		Korea Development Bank	1.625		01/19/31		885,600
	500,000		Korea Government International Bond	3.875		09/11/23		510,155
	1,500,000		Korea Government International Bond	2.750		01/19/27		1,494,530
	1,400,000		Korea Government International Bond	4.125		06/10/44		1,665,857
	500,000		Korea Government International Bond	3.875		09/20/48		579,268
	2,900,000		Kreditanstalt fuer Wiederaufbau	2.375		12/29/22		2,917,726
	3,000,000		Kreditanstalt fuer Wiederaufbau	0.250		10/19/23		2,909,490
	8,000,000		Kreditanstalt fuer Wiederaufbau	2.625		02/28/24		8,041,007
	6,100,000		Kreditanstalt fuer Wiederaufbau	0.250		03/08/24		5,858,745
	5,000,000		Kreditanstalt fuer Wiederaufbau	0.500		09/20/24		4,763,048
	2,000,000		Kreditanstalt fuer Wiederaufbau	2.500		11/20/24		1,999,800
	7,000,000		Kreditanstalt fuer Wiederaufbau	2.000		05/02/25		6,879,855
	4,500,000		Kreditanstalt fuer Wiederaufbau	0.625		01/22/26		4,178,695
	3,219,000		Kreditanstalt fuer Wiederaufbau	1.000		10/01/26		3,013,297
	7,750,000		Kreditanstalt fuer Wiederaufbau	2.875		04/03/28		7,873,384
	1,000,000		Kreditanstalt fuer Wiederaufbau	1.750		09/14/29		950,163
	5,000,000		Kreditanstalt fuer Wiederaufbau	0.750		09/30/30		4,357,832
	4,300,000		Landwirtschaftliche Rentenbank	3.125		11/14/23		4,356,249
	500,000		Landwirtschaftliche Rentenbank	2.000		01/13/25		492,336
	2,000,000		Landwirtschaftliche Rentenbank	0.500		05/27/25		1,872,860
	750,000		Landwirtschaftliche Rentenbank	2.375		06/10/25		744,525
	1,000,000		Landwirtschaftliche Rentenbank	1.750		07/27/26		967,404
	125,000		Landwirtschaftliche Rentenbank	2.500		11/15/27		124,000
	4,000,000		Landwirtschaftliche Rentenbank	0.875		09/03/30		3,521,007
	18,964,000		Mexico Government International Bond	2.659		05/24/31		17,261,033
	2,000,000		Mexico Government International Bond	3.500		02/12/34		1,858,980
	14,053,000		Mexico Government International Bond	4.280		08/14/41		13,099,785
	1,000,000	e	Mexico Government International Bond	5.000		04/27/51		1,010,190
	10,934,000		Mexico Government International Bond	4.400		02/12/52		10,031,617
	5,936,000		Mexico Government International Bond	3.771		05/24/61		4,798,128
	3,000,000		Mexico Government International Bond	3.750		04/19/71		2,387,970
	950,000		Mexico Government International Bond	5.750		10/12/10		962,341
	750,000		Nordic Investment Bank	0.375		05/19/23		736,286
	500,000		Nordic Investment Bank	2.875		07/19/23		504,662
	2,000,000		Nordic Investment Bank	0.375		09/11/25		1,852,700
	1,500,000		Nordic Investment Bank	0.500		01/21/26		1,386,941
	606,000		North American Development Bank	2.400		10/26/22		609,146
	850,000		Panama Government International Bond	4.000		09/22/24		868,275
	1,000,000		Panama Government International Bond	3.750		03/16/25		1,017,210
	300,000		Panama Government International Bond	7.125		01/29/26		341,442
	2,000,000		Panama Government International Bond	3.875		03/17/28		2,042,300
	1,450,000		Panama Government International Bond	3.160		01/23/30		1,418,579
	2,500,000		Panama Government International Bond	2.252		09/29/32		2,209,525
	2,500,000		Panama Government International Bond	3.298		01/19/33		2,387,250
	692,000		Panama Government International Bond	6.700		01/26/36		851,693
	750,000		Panama Government International Bond	4.500		05/15/47		747,420

109

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
$	2,250,000		Panama Government International Bond	4.500	%	04/16/50	$	2,222,213
	1,450,000		Panama Government International Bond	4.300		04/29/53		1,391,971
	1,500,000		Panama Government International Bond	4.500		04/01/56		1,465,995
	3,500,000		Panama Government International Bond	3.870		07/23/60		3,061,660
	1,250,000		Panama Government International Bond	4.500		01/19/63		1,199,075
	400,000		Peruvian Government International Bond	2.392		01/23/26		388,076
	5,000,000		Peruvian Government International Bond	2.844		06/20/30		4,787,950
	2,500,000		Peruvian Government International Bond	2.783		01/23/31		2,353,750
	1,500,000		Peruvian Government International Bond	1.862		12/01/32		1,281,675
	990,000		Peruvian Government International Bond	3.000		01/15/34		922,838
	1,100,000		Peruvian Government International Bond	6.550		03/14/37		1,389,586
	1,000,000		Peruvian Government International Bond	3.300		03/11/41		907,880
	1,850,000		Peruvian Government International Bond	5.625		11/18/50		2,347,521
	2,000,000		Peruvian Government International Bond	3.550		03/10/51		1,862,500
	1,500,000		Peruvian Government International Bond	2.780		12/01/60		1,170,165
	1,500,000		Peruvian Government International Bond	3.600		01/15/72		1,289,025
	1,000,000		Peruvian Government International Bond	3.230		07/28/21		759,050
	225,000		Philippine Government International Bond	4.200		01/21/24		231,103
	1,000,000		Philippine Government International Bond	3.229		03/29/27		1,011,470
	2,219,000		Philippine Government International Bond	3.000		02/01/28		2,219,992
	3,375,000		Philippine Government International Bond	3.750		01/14/29		3,490,018
	1,500,000		Philippine Government International Bond	2.457		05/05/30		1,425,994
	2,000,000		Philippine Government International Bond	1.648		06/10/31		1,778,726
	2,000,000		Philippine Government International Bond	1.950		01/06/32		1,813,183
	1,000,000		Philippine Government International Bond	3.556		09/29/32		1,024,271
	4,083,000		Philippine Government International Bond	3.950		01/20/40		4,050,366
	300,000		Philippine Government International Bond	3.700		03/01/41		290,974
	3,793,000		Philippine Government International Bond	3.700		02/02/42		3,674,886
	1,500,000		Philippine Government International Bond	2.950		05/05/45		1,296,783
	1,500,000		Philippine Government International Bond	2.650		12/10/45		1,242,203
	1,500,000		Philippine Government International Bond	3.200		07/06/46		1,348,414
	325,000		Philippine Government International Bond	4.200		03/29/47		339,104
	990,000		Poland Government International Bond	3.000		03/17/23		994,994
	1,000,000		Poland Government International Bond	4.000		01/22/24		1,025,395
	2,725,000		Poland Government International Bond	3.250		04/06/26		2,772,686
	750,000		Province of Alberta Canada	3.350		11/01/23		761,039
	775,000		Province of Alberta Canada	2.950		01/23/24		781,952
	1,500,000		Province of Alberta Canada	1.875		11/13/24		1,472,642
	1,000,000		Province of Alberta Canada	1.000		05/20/25		949,310
	925,000		Province of Alberta Canada	3.300		03/15/28		951,510
	2,000,000		Province of Alberta Canada	1.300		07/22/30		1,790,307
	2,000,000		Province of British Columbia Canada	1.750		09/27/24		1,963,898
	850,000		Province of British Columbia Canada	2.250		06/02/26		834,408
	1,500,000		Province of British Columbia Canada	0.900		07/20/26		1,394,583
	1,500,000	e	Province of British Columbia Canada	1.300		01/29/31		1,339,988
	1,000,000		Province of Manitoba Canada	2.600		04/16/24		1,002,580
	1,300,000		Province of Manitoba Canada	3.050		05/14/24		1,313,946
	500,000		Province of Manitoba Canada	2.125		06/22/26		488,529
	1,500,000	e	Province of Manitoba Canada	1.500		10/25/28		1,391,038
	500,000		Province of New Brunswick Canada	3.625		02/24/28		522,884
	200,000		Province of Nova Scotia Canada	8.250		07/30/22		204,304
	1,365,000		Province of Ontario Canada	1.750		01/24/23		1,363,216
	500,000		Province of Ontario Canada	3.400		10/17/23		508,126
	1,000,000		Province of Ontario Canada	3.050		01/29/24		1,011,478
	1,500,000		Province of Ontario Canada	3.200		05/16/24		1,522,259

110

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	2,000,000		Province of Ontario Canada			0.625	%	01/21/26	$	1,854,339
	1,500,000		Province of Ontario Canada			1.050		04/14/26		1,410,365
	1,000,000		Province of Ontario Canada			2.500		04/27/26		992,766
	1,000,000		Province of Ontario Canada			2.300		06/15/26		981,781
	1,000,000	e	Province of Ontario Canada			1.050		05/21/27		919,510
	2,000,000		Province of Ontario Canada			2.000		10/02/29		1,903,321
	1,000,000		Province of Ontario Canada			1.125		10/07/30		881,775
	3,000,000		Province of Ontario Canada			1.600		02/25/31		2,732,136
	1,500,000		Province of Ontario Canada			1.800		10/14/31		1,376,301
	3,000,000		Province of Ontario Canada			2.125		01/21/32		2,828,250
	200,000		Province of Quebec Canada			7.125		02/09/24		216,322
	875,000		Province of Quebec Canada			2.500		04/09/24		877,182
	500,000		Province of Quebec Canada			2.875		10/16/24		504,035
	2,500,000		Province of Quebec Canada			1.500		02/11/25		2,423,450
	2,000,000	e	Province of Quebec Canada			0.600		07/23/25		1,867,828
	3,500,000		Province of Quebec Canada			2.500		04/20/26		3,465,394
	500,000	e	Province of Quebec Canada			2.750		04/12/27		501,195
	201,000		Province of Quebec Canada			7.500		09/15/29		262,791
	1,500,000		Province of Quebec Canada			1.350		05/28/30		1,349,286
	3,000,000		Province of Quebec Canada			1.900		04/21/31		2,803,498
	200,000		Province of Saskatchewan Canada			8.500		07/15/22		204,243
	1,600,000		Republic of Italy Government International Bond			6.875		09/27/23		1,696,374
	3,000,000		Republic of Italy Government International Bond			0.875		05/06/24		2,869,957
	2,000,000		Republic of Italy Government International Bond			2.375		10/17/24		1,965,051
	3,000,000		Republic of Italy Government International Bond			1.250		02/17/26		2,762,942
	1,500,000		Republic of Italy Government International Bond			2.875		10/17/29		1,413,930
	1,599,000		Republic of Italy Government International Bond			5.375		06/15/33		1,808,167
	2,000,000		Republic of Italy Government International Bond			4.000		10/17/49		1,918,916
	3,000,000		Republic of Italy Government International Bond			3.875		05/06/51		2,776,934
	2,000,000		State of Israel			2.500		01/15/30		1,945,817
	2,050,000		State of Israel			3.375		01/15/50		1,940,810
	2,640,000		Svensk Exportkredit AB			1.625		11/14/22		2,644,488
	4,250,000		Svensk Exportkredit AB			2.875		03/14/23		4,289,448
	4,000,000		Svensk Exportkredit AB			0.500		11/10/23		3,884,000
	870,000		Svensk Exportkredit AB			1.750		12/12/23		861,468
	2,000,000		Svensk Exportkredit AB			0.375		07/30/24		1,903,681
	1,000,000		Svensk Exportkredit AB			0.625		05/14/25		939,291
	3,000,000		Svensk Exportkredit AB			0.500		08/26/25		2,785,380
	7,374,716		Uruguay Government International Bond			4.375		01/23/31		8,036,154
	500,000		Uruguay Government International Bond			4.125		11/20/45		541,420
	2,063,907		Uruguay Government International Bond			5.100		06/18/50		2,430,374
	2,425,000		Uruguay Government International Bond			4.975		04/20/55		2,826,992
			TOTAL FOREIGN GOVERNMENT BONDS							696,335,903
MORTGAGE BACKED - 27.5%
	9,037	i	Federal Home Loan Mortgage Corp (FHLMC)	DGS1 + 2.250%		2.375		04/01/35		9,224
	2,108	i	FHLMC	DGS1 + 2.125%		2.198		10/01/35		2,106
	15,506	i	FHLMC	DGS1 + 2.255%		2.380		02/01/36		15,989
	6,844	i	FHLMC	LIBOR 12 M + 1.813%		2.063		07/01/36		7,133
	29,931	i	FHLMC	LIBOR 6 M + 1.595%		1.807		09/01/36		29,966
	18,393	i	FHLMC	LIBOR 6 M + 1.806%		2.099		09/01/36		19,075
	25,150	i	FHLMC	DGS1 + 2.248%		2.361		09/01/36		25,353
	10,268	i	FHLMC	DGS1 + 2.250%		2.368		01/01/37		10,735
	1,419	i	FHLMC	LIBOR 12 M + 1.765%		2.227		02/01/37		1,422
	1,236	i	FHLMC	DGS1 + 2.250%		2.366		02/01/37		1,292
	83,629	i	FHLMC	LIBOR 12 M + 1.815%		2.200		03/01/37		87,038

111

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	10,000,000		FHLMC			1.500	%	04/01/37	$	9,484,375
	19,613	i	FHLMC	LIBOR 12 M + 1.617%		1.902		04/01/37		19,679
	15,000,000		FHLMC			2.000		04/01/37		14,571,094
	64,412	i	FHLMC	DGS1 + 2.250%		2.398		04/01/37		67,143
	6,474	i	FHLMC	LIBOR 12 M + 2.146%		2.441		05/01/37		6,485
	1,388	i	FHLMC	LIBOR 12 M + 1.750%		2.000		06/01/37		1,396
	18,840	i	FHLMC	DGS1 + 2.248%		2.360		06/01/37		18,850
	27,872	i	FHLMC	LIBOR 6 M + 1.270%		1.520		08/01/37		28,013
	23,867	i	FHLMC	LIBOR 12 M + 0.905%		1.155		09/01/37		23,866
	2,750	i	FHLMC	LIBOR 6 M + 1.520%		1.736		09/01/37		2,754
	197	i	FHLMC	LIBOR 12 M + 1.795%		2.045		09/01/37		197
	20,872	i	FHLMC	LIBOR 12 M + 2.055%		2.305		04/01/38		22,035
	5,372	i	FHLMC	LIBOR 12 M + 2.004%		2.319		06/01/38		5,396
	3,536	i	FHLMC	LIBOR 12 M + 1.625%		1.875		07/01/38		3,660
	5,144	i	FHLMC	LIBOR 12 M + 1.861%		2.111		06/01/40		5,145
	4,889	i	FHLMC	LIBOR 12 M + 1.880%		2.130		07/01/40		4,890
	10,642	i	FHLMC	LIBOR 12 M + 1.891%		2.235		01/01/41		10,654
	3,033	i	FHLMC	LIBOR 12 M + 1.880%		2.130		05/01/41		3,038
	88,284	i	FHLMC	LIBOR 12 M + 1.854%		2.178		08/01/41		88,639
	50,152	i	FHLMC	LIBOR 12 M + 1.750%		2.000		09/01/41		51,793
	12,884	i	FHLMC	LIBOR 12 M + 1.860%		2.110		10/01/41		13,320
	14,984,197		FHLMC			3.000		11/01/49		14,765,920
	13,944,339		FHLMC			3.000		11/01/49		13,725,827
	28,517,376		FHLMC			3.000		02/01/50		28,074,605
	20,716,962		FHLMC			3.500		04/01/50		20,902,386
	10,677,913		FHLMC			3.500		07/01/50		10,730,048
	86		Federal Home Loan Mortgage Corp Gold (FGLMC)			5.000		10/01/22		88
	97		FGLMC			6.000		11/01/22		97
	3,934		FGLMC			5.000		04/01/23		4,011
	266		FGLMC			4.500		05/01/23		272
	4,345		FGLMC			5.000		05/01/23		4,569
	1,251		FGLMC			5.000		10/01/23		1,276
	698		FGLMC			5.500		10/01/23		741
	1,591		FGLMC			5.000		11/01/23		1,673
	3,305		FGLMC			5.000		03/01/24		3,475
	670		FGLMC			4.500		04/01/24		687
	353		FGLMC			4.500		05/01/24		363
	2,413		FGLMC			4.500		06/01/24		2,475
	22,785		FGLMC			4.000		07/01/24		23,427
	10,534		FGLMC			4.000		07/01/24		10,834
	1,638		FGLMC			5.500		07/01/24		1,662
	19,261		FGLMC			4.000		08/01/24		19,806
	3,763		FGLMC			4.500		09/01/24		3,866
	1,954		FGLMC			4.500		09/01/24		2,008
	1,215		FGLMC			4.500		09/01/24		1,248
	1,331		FGLMC			5.500		09/01/24		1,413
	29,713		FGLMC			4.000		10/01/24		30,556
	852		FGLMC			4.500		10/01/24		875
	3,864		FGLMC			4.500		10/01/24		4,006
	906		FGLMC			4.500		11/01/24		930
	5,300		FGLMC			4.500		12/01/24		5,455
	1,655		FGLMC			4.500		02/01/25		1,697
	44,652		FGLMC			4.000		03/01/25		45,937
	1,317		FGLMC			4.500		06/01/25		1,361

112

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	2,926	FGLMC	4.500	%	07/01/25	$	3,019
	67,019	FGLMC	3.500		10/01/25		68,474
	25,080	FGLMC	4.000		10/01/25		25,796
	111,571	FGLMC	3.500		11/01/25		114,022
	65,048	FGLMC	3.500		11/01/25		66,477
	29,798	FGLMC	3.500		12/01/25		30,466
	16,998	FGLMC	3.000		01/01/26		17,175
	248,348	FGLMC	3.500		01/01/26		253,978
	18,465	FGLMC	4.000		04/01/26		19,032
	43,555	FGLMC	4.000		05/01/26		44,930
	10,487	FGLMC	5.500		07/01/26		11,144
	100,205	FGLMC	4.000		08/01/26		103,142
	1,142	FGLMC	6.000		08/01/26		1,218
	41,531	FGLMC	3.000		09/01/26		41,957
	129,011	FGLMC	3.000		10/01/26		130,334
	186,138	FGLMC	3.500		10/01/26		190,387
	4,233	FGLMC	5.000		10/01/26		4,453
	1,404	FGLMC	5.500		10/01/26		1,492
	728,106	FGLMC	3.000		02/01/27		735,993
	483,812	FGLMC	2.500		05/01/27		479,687
	546,189	FGLMC	2.500		11/01/27		541,532
	22,756	FGLMC	6.000		12/01/27		24,299
	429,308	FGLMC	2.500		01/01/28		425,643
	1,098,222	FGLMC	2.500		03/01/28		1,088,843
	31,762	FGLMC	5.000		03/01/28		33,446
	632,158	FGLMC	2.500		05/01/28		626,761
	3,407	FGLMC	5.500		05/01/28		3,629
	1,914,370	FGLMC	2.500		07/01/28		1,898,016
	1,490,857	FGLMC	2.500		07/01/28		1,478,126
	408,029	FGLMC	3.000		10/01/28		412,556
	23,340	FGLMC	5.500		01/01/29		24,810
	1,583	FGLMC	6.500		01/01/29		1,700
	2,607	FGLMC	4.000		02/01/29		2,665
	901,694	FGLMC	3.500		03/01/29		926,748
	237	FGLMC	6.500		03/01/29		254
	1,589,879	FGLMC	3.000		07/01/29		1,607,532
	6,911	FGLMC	6.500		07/01/29		7,425
	6,703	FGLMC	5.000		12/01/29		7,125
	4,491,451	FGLMC	2.500		05/01/30		4,448,665
	10,946	FGLMC	4.000		08/01/30		11,268
	94,544	FGLMC	4.500		01/01/31		98,321
	134	FGLMC	8.000		01/01/31		136
	77,347	FGLMC	4.000		03/01/31		79,623
	10,638	FGLMC	4.000		05/01/31		10,951
	74,005	FGLMC	4.500		05/01/31		76,977
	40,110	FGLMC	4.000		06/01/31		41,290
	84,547	FGLMC	4.000		08/01/31		87,037
	96,921	FGLMC	4.000		09/01/31		100,485
	1,571	FGLMC	6.500		09/01/31		1,697
	3,644	FGLMC	8.000		09/01/31		3,908
	48,075	FGLMC	3.500		11/01/31		48,717
	7,229,471	FGLMC	2.500		12/01/31		7,160,603
	33,902	FGLMC	7.000		12/01/31		36,406
	7,734	FGLMC	6.500		01/01/32		8,483

113

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	18,584	FGLMC	6.000	%	02/01/32	$	20,583
	814,410	FGLMC	3.000		03/01/32		798,259
	7,681	FGLMC	7.000		04/01/32		8,364
	6,934	FGLMC	6.500		05/01/32		7,450
	556,308	FGLMC	3.500		09/01/32		563,721
	4,049	FGLMC	5.500		11/01/32		4,437
	6,751,267	FGLMC	3.000		01/01/33		6,826,393
	6,023	FGLMC	6.000		02/01/33		6,598
	21,338	FGLMC	5.000		03/01/33		23,093
	14,164	FGLMC	6.000		03/01/33		15,139
	16,422	FGLMC	6.000		03/01/33		17,551
	14,602	FGLMC	5.000		04/01/33		15,438
	2,857	FGLMC	6.000		04/01/33		3,164
	120,587	FGLMC	5.000		06/01/33		127,122
	53,587	FGLMC	5.500		06/01/33		58,732
	25,823,712	FGLMC	2.500		07/01/33		25,577,715
	1,126,142	FGLMC	3.500		07/01/33		1,141,154
	21,993	FGLMC	4.500		07/01/33		23,417
	1,765,428	FGLMC	4.000		08/01/33		1,822,576
	1,944	FGLMC	5.000		08/01/33		2,099
	7,717	FGLMC	6.500		08/01/33		8,304
	71,694	FGLMC	5.000		09/01/33		77,593
	28,358	FGLMC	5.500		09/01/33		30,408
	57,294	FGLMC	5.500		09/01/33		62,091
	33,065	FGLMC	5.500		09/01/33		35,448
	11,790	FGLMC	5.500		09/01/33		12,630
	18,069	FGLMC	4.000		10/01/33		18,793
	4,198	FGLMC	5.000		10/01/33		4,546
	51,968	FGLMC	5.500		10/01/33		56,225
	2,783,400	FGLMC	3.500		11/01/33		2,855,923
	37,342	FGLMC	5.500		12/01/33		40,926
	12,502	FGLMC	5.500		12/01/33		13,703
	159,621	FGLMC	7.000		12/01/33		174,215
	113,153	FGLMC	5.000		01/01/34		122,488
	731,133	FGLMC	3.000		02/01/34		739,019
	2,766	FGLMC	5.500		02/01/34		3,031
	14,477	FGLMC	5.000		03/01/34		15,677
	16,511	FGLMC	5.500		03/01/34		18,093
	55,008	FGLMC	5.000		05/01/34		59,572
	16,949	FGLMC	4.500		06/01/34		18,048
	36,712	FGLMC	5.000		06/01/34		39,645
	13,883	FGLMC	5.500		06/01/34		15,214
	5,853	FGLMC	6.000		06/01/34		6,360
	25,827	FGLMC	6.000		09/01/34		28,632
	1,828,004	FGLMC	3.500		10/01/34		1,852,221
	3,856	FGLMC	5.000		11/01/34		4,174
	114,061	FGLMC	5.500		11/01/34		124,638
	123,712	FGLMC	5.000		12/01/34		133,323
	29,769	FGLMC	5.500		12/01/34		32,615
	3,551	FGLMC	5.500		12/01/34		3,778
	1,961	FGLMC	5.500		01/01/35		2,149
	1,044	FGLMC	5.500		01/01/35		1,144
	20,845	FGLMC	5.500		01/01/35		22,844
	48,843	FGLMC	4.500		04/01/35		51,993
	7,317	FGLMC	6.000		05/01/35		8,176

114

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	49,828	FGLMC	6.000	%	05/01/35	$	53,303
	45,308	FGLMC	7.000		05/01/35		49,006
	10,360	FGLMC	5.500		06/01/35		11,356
	6,896	FGLMC	5.500		06/01/35		7,559
	4,297	FGLMC	5.000		07/01/35		4,640
	185,848	FGLMC	5.000		07/01/35		201,204
	220,020	FGLMC	5.000		08/01/35		238,329
	13,213	FGLMC	5.500		08/01/35		14,060
	76,370	FGLMC	6.000		08/01/35		81,582
	3,325	FGLMC	4.500		09/01/35		3,541
	40,058	FGLMC	5.000		10/01/35		43,265
	18,697	FGLMC	5.000		10/01/35		20,250
	14,720	FGLMC	5.000		10/01/35		15,598
	122,849	FGLMC	5.500		10/01/35		130,861
	4,049	FGLMC	5.000		12/01/35		4,383
	35,834	FGLMC	5.000		12/01/35		38,492
	19,388	FGLMC	6.000		01/01/36		21,627
	7,759	FGLMC	5.000		02/01/36		8,398
	3,083	FGLMC	5.000		02/01/36		3,336
	3,245	FGLMC	6.000		02/01/36		3,623
	36,199	FGLMC	5.500		04/01/36		38,861
	9,034	FGLMC	5.500		05/01/36		9,900
	140,009	FGLMC	6.000		06/01/36		156,408
	39,451	FGLMC	5.000		07/01/36		42,705
	44,824	FGLMC	6.000		07/01/36		49,018
	7,040	FGLMC	6.000		08/01/36		7,834
	6,249	FGLMC	6.000		09/01/36		6,681
	60,427	FGLMC	5.500		10/01/36		66,220
	133,431	FGLMC	5.500		10/01/36		146,106
	9,267	FGLMC	6.500		10/01/36		9,956
	5,769	FGLMC	5.500		11/01/36		6,294
	15,323	FGLMC	6.000		11/01/36		17,125
	81,913	FGLMC	6.000		12/01/36		90,719
	115,506	FGLMC	5.500		03/01/37		126,989
	46,707	FGLMC	6.000		03/01/37		52,181
	7,258	FGLMC	6.500		03/01/37		7,843
	42,950	FGLMC	5.500		04/01/37		47,300
	6,492	FGLMC	5.000		05/01/37		7,030
	5,492	FGLMC	5.000		06/01/37		5,899
	18,309	FGLMC	5.500		06/01/37		20,171
	4,591,050	FGLMC	3.000		07/01/37		4,584,354
	77,554	FGLMC	6.000		07/01/37		86,666
	47,364	FGLMC	6.000		08/01/37		52,932
	14,511	FGLMC	6.000		09/01/37		16,221
	119,294	FGLMC	5.500		10/01/37		127,867
	3,638	FGLMC	6.000		11/01/37		4,066
	37,704	FGLMC	6.500		11/01/37		41,797
	16,245	FGLMC	6.000		01/01/38		18,145
	6,392	FGLMC	6.000		02/01/38		7,144
	50,972	FGLMC	6.000		02/01/38		56,980
	80,467	FGLMC	5.000		03/01/38		87,099
	221,970	FGLMC	5.000		03/01/38		240,393
	9,821	FGLMC	5.000		04/01/38		10,626
	96,328	FGLMC	5.000		04/01/38		104,344
	101,344	FGLMC	5.500		04/01/38		109,850

115

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	23,497	FGLMC	5.500	%	05/01/38	$	25,932
	2,721	FGLMC	5.500		06/01/38		3,000
	3,898	FGLMC	6.000		07/01/38		4,181
	14,004	FGLMC	5.500		08/01/38		15,338
	86,783	FGLMC	5.500		08/01/38		93,665
	10,930	FGLMC	5.000		09/01/38		11,831
	154,265	FGLMC	5.500		09/01/38		170,075
	54,970	FGLMC	5.500		09/01/38		60,554
	2,909	FGLMC	5.500		10/01/38		3,211
	55,235	FGLMC	6.000		11/01/38		61,459
	402,143	FGLMC	5.500		01/01/39		443,521
	258,870	FGLMC	4.500		02/01/39		275,730
	149,411	FGLMC	5.000		02/01/39		161,717
	10,974	FGLMC	5.500		02/01/39		12,099
	428	FGLMC	4.500		03/01/39		445
	66,626	FGLMC	5.000		03/01/39		72,169
	8,026	FGLMC	6.000		03/01/39		8,949
	12,730	FGLMC	4.500		04/01/39		13,557
	408,968	FGLMC	4.500		04/01/39		434,390
	94,305	FGLMC	4.000		05/01/39		98,744
	2,391	FGLMC	4.500		05/01/39		2,547
	1,405,851	FGLMC	4.500		05/01/39		1,497,411
	62,282	FGLMC	4.500		05/01/39		66,325
	123,442	FGLMC	4.500		05/01/39		131,438
	56,937	FGLMC	5.000		05/01/39		61,647
	121,348	FGLMC	4.000		06/01/39		127,030
	656,847	FGLMC	4.500		06/01/39		699,625
	20,365	FGLMC	4.500		06/01/39		21,692
	10,877	FGLMC	5.000		06/01/39		11,781
	3,848	FGLMC	5.500		06/01/39		4,212
	193,822	FGLMC	4.000		07/01/39		202,932
	77,588	FGLMC	4.500		07/01/39		82,624
	15,340	FGLMC	4.500		07/01/39		16,335
	6,051	FGLMC	4.500		07/01/39		6,429
	52,035	FGLMC	5.000		07/01/39		56,373
	94,976	FGLMC	5.500		07/01/39		103,168
	6,673	FGLMC	4.500		08/01/39		7,108
	15,679	FGLMC	5.000		08/01/39		16,986
	135,473	FGLMC	4.000		09/01/39		141,479
	412,447	FGLMC	5.000		09/01/39		446,355
	138,367	FGLMC	5.000		09/01/39		149,876
	1,379	FGLMC	5.500		09/01/39		1,475
	169,873	FGLMC	6.500		09/01/39		185,809
	51,663	FGLMC	4.500		10/01/39		55,027
	41,058	FGLMC	4.500		10/01/39		43,448
	28,686	FGLMC	4.500		10/01/39		30,555
	28,025	FGLMC	5.000		10/01/39		30,354
	10,028	FGLMC	4.000		11/01/39		10,453
	34,043	FGLMC	4.500		11/01/39		36,259
	13,391	FGLMC	5.000		11/01/39		14,508
	36,567	FGLMC	4.500		12/01/39		38,942
	73,189	FGLMC	4.500		12/01/39		77,934
	27,864	FGLMC	4.500		12/01/39		29,596
	85,523	FGLMC	4.500		12/01/39		89,961
	59,897	FGLMC	5.500		12/01/39		66,061

116

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	92,711	FGLMC	4.500	%	01/01/40	$	98,729
	7,507	FGLMC	5.000		01/01/40		8,132
	10,189	FGLMC	5.500		01/01/40		11,233
	26,870	FGLMC	5.500		03/01/40		29,633
	305,182	FGLMC	4.000		04/01/40		319,498
	15,848	FGLMC	4.500		04/01/40		16,879
	48,033	FGLMC	4.500		04/01/40		51,162
	40,861	FGLMC	5.000		04/01/40		44,268
	85,953	FGLMC	5.000		04/01/40		92,398
	325,115	FGLMC	6.000		04/01/40		363,165
	881,073	FGLMC	4.500		05/01/40		938,434
	350,497	FGLMC	5.000		05/01/40		375,815
	2,638	FGLMC	4.500		06/01/40		2,791
	284,106	FGLMC	5.500		06/01/40		313,296
	431,798	FGLMC	4.500		07/01/40		459,781
	7,700	FGLMC	4.500		08/01/40		8,200
	77,321	FGLMC	5.000		08/01/40		83,748
	205,402	FGLMC	5.000		08/01/40		222,470
	20,963	FGLMC	5.000		08/01/40		22,706
	1,348,667	FGLMC	5.500		08/01/40		1,486,802
	105,729	FGLMC	4.000		09/01/40		110,679
	1,413,140	FGLMC	4.000		11/01/40		1,475,901
	918,030	FGLMC	4.000		12/01/40		960,947
	126,217	FGLMC	3.500		01/01/41		128,828
	217,216	FGLMC	3.500		01/01/41		221,711
	126,168	FGLMC	4.000		01/01/41		132,076
	131,495	FGLMC	3.500		02/01/41		134,217
	457,104	FGLMC	4.000		02/01/41		476,212
	156,313	FGLMC	4.000		02/01/41		163,248
	829,645	FGLMC	4.000		04/01/41		868,469
	152,050	FGLMC	4.500		04/01/41		161,911
	32,672	FGLMC	5.000		04/01/41		35,377
	132,090	FGLMC	4.500		05/01/41		140,334
	165,969	FGLMC	4.500		06/01/41		176,727
	372,090	FGLMC	3.500		10/01/41		378,784
	360,551	FGLMC	5.000		10/01/41		390,404
	530,303	FGLMC	3.500		11/01/41		541,300
	213,864	FGLMC	4.500		12/01/41		227,692
	1,761,818	FGLMC	3.500		01/01/42		1,798,505
	517,896	FGLMC	3.500		02/01/42		528,680
	575,323	FGLMC	3.500		04/01/42		587,227
	1,428,793	FGLMC	4.000		05/01/42		1,495,211
	4,579,900	FGLMC	4.500		05/01/42		4,872,448
	1,001,392	FGLMC	3.500		07/01/42		1,022,142
	212,220	FGLMC	3.000		08/01/42		212,166
	1,578,518	FGLMC	3.000		10/01/42		1,577,958
	1,089,705	FGLMC	3.000		10/01/42		1,089,431
	474,484	FGLMC	3.500		12/01/42		484,349
	1,656,416	FGLMC	2.500		01/01/43		1,599,916
	3,141,598	FGLMC	3.000		01/01/43		3,139,837
	4,687,221	FGLMC	3.000		04/01/43		4,683,145
	12,370,470	FGLMC	3.000		04/01/43		12,359,707
	1,373,448	FGLMC	3.500		05/01/43		1,401,980
	1,932,564	FGLMC	3.000		08/01/43		1,930,086
	1,389,205	FGLMC	3.000		08/01/43		1,387,424

117

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	1,407,484	FGLMC	3.500	%	08/01/43	$	1,436,739
	600,939	FGLMC	4.500		10/01/43		641,390
	703,506	FGLMC	4.000		11/01/43		734,899
	1,309,902	FGLMC	3.500		02/01/44		1,337,097
	1,067,727	FGLMC	4.000		02/01/44		1,115,351
	7,903,837	FGLMC	4.000		02/01/44		8,256,361
	476,279	FGLMC	4.000		04/01/44		496,993
	620,256	FGLMC	4.500		05/01/44		660,780
	1,086,892	FGLMC	4.000		06/01/44		1,133,724
	1,651,293	FGLMC	4.000		08/01/44		1,722,440
	1,214,581	FGLMC	3.500		09/01/44		1,239,632
	1,695,530	FGLMC	3.500		11/01/44		1,725,671
	2,443,315	FGLMC	3.500		12/01/44		2,490,943
	1,382,675	FGLMC	3.500		01/01/45		1,416,825
	2,822,274	FGLMC	3.000		02/01/45		2,807,699
	3,529,242	FGLMC	3.500		03/01/45		3,597,405
	2,192,415	FGLMC	4.000		03/01/45		2,289,280
	1,367,047	FGLMC	3.000		04/01/45		1,359,978
	2,862,363	FGLMC	3.500		04/01/45		2,913,968
	7,502,595	FGLMC	3.500		07/01/45		7,638,749
	5,774,949	FGLMC	4.500		07/01/45		6,099,430
	15,731,910	FGLMC	3.000		08/01/45		15,689,770
	12,388,118	FGLMC	3.500		10/01/45		12,634,601
	2,313,800	FGLMC	4.000		11/01/45		2,409,932
	4,295,318	FGLMC	3.500		12/01/45		4,368,308
	9,898,408	FGLMC	3.000		03/01/46		9,816,674
	3,231,173	FGLMC	3.500		03/01/46		3,286,055
	1,678,702	FGLMC	4.000		03/01/46		1,746,198
	7,239,497	FGLMC	3.000		04/01/46		7,202,103
	7,400,903	FGLMC	3.500		05/01/46		7,582,629
	5,741,584	FGLMC	3.500		08/01/46		5,858,756
	10,861,538	FGLMC	3.000		09/01/46		10,835,360
	4,637,342	FGLMC	4.000		09/01/46		4,802,138
	3,917,859	FGLMC	3.000		11/01/46		3,902,412
	13,389,802	FGLMC	3.000		11/01/46		13,261,626
	4,596,346	FGLMC	3.000		11/01/46		4,568,773
	2,790,849	FGLMC	3.000		12/01/46		2,772,397
	3,685,545	FGLMC	3.500		12/01/46		3,740,535
	6,501,304	FGLMC	3.000		02/01/47		6,456,963
	2,173,236	FGLMC	3.500		02/01/47		2,208,492
	1,860,152	FGLMC	4.000		02/01/47		1,927,595
	2,963,859	FGLMC	3.500		05/01/47		2,996,631
	2,348,692	FGLMC	3.000		08/01/47		2,337,586
	3,038,048	FGLMC	3.000		11/01/47		2,998,149
	4,776,337	FGLMC	3.000		12/01/47		4,715,260
	14,561,357	FGLMC	3.000		01/01/48		14,440,954
	5,159,461	FGLMC	3.000		02/01/48		5,091,790
	3,993,145	FGLMC	3.500		03/01/48		4,043,052
	3,346,177	FGLMC	3.500		05/01/48		3,378,430
	2,678,932	FGLMC	4.000		05/01/48		2,755,642
	3,663,792	FGLMC	3.500		07/01/48		3,696,401
	4,018,789	FGLMC	4.000		07/01/48		4,122,718
	7,350,400	FGLMC	4.000		08/01/48		7,536,008
	1,469,490	FGLMC	4.500		09/01/48		1,525,048
	5,753,234	FGLMC	4.000		10/01/48		5,885,670

118

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	3,594,391	FGLMC	4.500	%	12/01/48	$	3,734,503
	1,989,318	FGLMC	4.500		02/01/49		2,070,061
	4,663,913	FGLMC	3.500		05/01/49		4,692,674
	264	Federal National Mortgage Association (FNMA)	5.500		10/01/22		265
	200	FNMA	6.000		10/01/22		201
	63	FNMA	5.000		03/01/23		64
	2,994	FNMA	4.500		06/01/23		3,064
	492	FNMA	5.000		06/01/23		501
	758	FNMA	5.500		06/01/23		804
	490	FNMA	5.000		07/01/23		500
	7,070	FNMA	5.000		07/01/23		7,206
	781	FNMA	5.500		08/01/23		791
	1,867	FNMA	5.000		11/01/23		1,962
	2	FNMA	5.500		11/01/23		2
	181	FNMA	5.500		01/01/24		182
	2,371	FNMA	5.500		02/01/24		2,516
	9,657	FNMA	4.000		03/01/24		9,921
	782	FNMA	4.500		04/01/24		802
	42,562	FNMA	4.000		05/01/24		43,726
	11,734	FNMA	4.000		05/01/24		12,055
	1,060	FNMA	4.000		06/01/24		1,089
	1,372	FNMA	4.500		07/01/24		1,406
	1,577	FNMA	5.500		07/01/24		1,673
	35	FNMA	8.000		07/01/24		37
	8,661	FNMA	4.500		08/01/24		8,912
	6,797	FNMA	4.000		09/01/24		6,984
	31,390	FNMA	4.000		09/01/24		32,262
	3,362	FNMA	4.500		09/01/24		3,448
	83,263	FNMA	4.500		10/01/24		85,529
	4,918	FNMA	5.000		01/01/25		5,175
	6,167	FNMA	4.500		02/01/25		6,337
	41,417	FNMA	4.500		03/01/25		42,502
	494	FNMA	4.500		03/01/25		506
	21,730	FNMA	5.000		03/01/25		22,865
	32,553	FNMA	4.500		04/01/25		33,465
	11,350	FNMA	4.500		04/01/25		11,637
	161,640	FNMA	4.000		05/01/25		166,143
	66,343	FNMA	4.000		06/01/25		68,201
	34,083	FNMA	4.500		06/01/25		35,025
	19,585	FNMA	4.000		08/01/25		20,136
	10,022	FNMA	5.500		08/01/25		10,754
	61,124	FNMA	3.500		09/01/25		62,406
	80,106	FNMA	4.000		09/01/25		82,310
	146,239	FNMA	3.500		10/01/25		149,364
	120,763	FNMA	3.500		10/01/25		123,308
	55,465	FNMA	5.000		10/01/25		58,328
	88,560	FNMA	4.000		11/01/25		91,086
	127,401	FNMA	3.500		12/01/25		130,122
	616,452	FNMA	3.500		02/01/26		629,907
	99,398	FNMA	3.500		02/01/26		101,560
	31,143	FNMA	4.000		03/01/26		32,067
	94,622	FNMA	4.000		06/01/26		97,569
	86,854	FNMA	3.500		08/01/26		88,737
	66,121	FNMA	3.500		09/01/26		67,575
	35,942	FNMA	4.000		09/01/26		37,026

119

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	121,146	FNMA	3.500	%	10/01/26	$	123,817
	2,508	FNMA	6.000		10/01/26		2,675
	160,138	FNMA	3.000		11/01/26		161,573
	138,516	FNMA	3.000		12/01/26		139,841
	381,952	FNMA	3.000		01/01/27		385,088
	358,741	FNMA	4.000		01/01/27		368,759
	270,312	FNMA	3.500		02/01/27		277,412
	488,385	FNMA	3.000		04/01/27		493,442
	308,516	FNMA	3.000		04/01/27		311,647
	178,952	FNMA	3.500		05/01/27		183,669
	205,907	FNMA	2.500		06/01/27		204,021
	633,801	FNMA	3.000		06/01/27		640,373
	236,094	FNMA	2.500		07/01/27		233,928
	522,045	FNMA	2.500		09/01/27		517,253
	6,998	FNMA	5.500		09/01/27		7,432
	845,077	FNMA	2.500		10/01/27		837,264
	550,546	FNMA	3.000		11/01/27		556,186
	1,120	FNMA	5.500		01/01/28		1,197
	2,221,840	FNMA	2.500		02/01/28		2,201,468
	1,726,816	FNMA	2.500		02/01/28		1,710,978
	842	FNMA	5.000		02/01/28		891
	1,286,362	FNMA	2.500		04/01/28		1,274,548
	1,872,685	FNMA	2.500		04/01/28		1,855,483
	5,087	FNMA	5.500		06/01/28		5,416
	528,087	FNMA	2.500		07/01/28		523,238
	1,076,692	FNMA	2.500		08/01/28		1,066,802
	1,221,439	FNMA	3.000		10/01/28		1,234,116
	846	FNMA	5.500		11/01/28		900
	5	FNMA	7.500		01/01/29		6
	1,724,723	FNMA	3.000		03/01/29		1,742,607
	6,896	FNMA	4.000		03/01/29		7,043
	6,556,419	FNMA	3.000		04/01/29		6,624,480
	25,642	FNMA	4.500		04/01/29		26,582
	18,802	FNMA	4.000		05/01/29		19,200
	9,848	FNMA	4.500		06/01/29		10,208
	3,527	FNMA	4.000		07/01/29		3,619
	66,991	FNMA	4.500		08/01/29		69,444
	8,301,143	FNMA	3.500		09/01/29		8,515,321
	13,243	FNMA	4.500		09/01/29		13,723
	12,712	FNMA	4.500		11/01/29		13,188
	3,760	FNMA	4.500		01/01/30		3,898
	947,279	FNMA	2.500		02/01/30		938,565
	8,608	FNMA	4.000		03/01/30		8,791
	3,759	FNMA	4.500		05/01/30		3,897
	5,263	FNMA	4.500		06/01/30		5,457
	2,351,606	FNMA	3.000		07/01/30		2,376,079
	48,251	FNMA	4.500		08/01/30		50,027
	10,956	FNMA	4.000		09/01/30		11,270
	71,565	FNMA	4.000		10/01/30		73,608
	602,408	FNMA	4.000		11/01/30		619,692
	109,292	FNMA	4.000		11/01/30		112,421
	24,060	FNMA	4.500		12/01/30		25,006
	2,073,021	FNMA	3.000		02/01/31		2,094,572
	33,631	FNMA	3.500		02/01/31		34,214
	37,588	FNMA	4.000		02/01/31		38,668

120

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	412	FNMA	7.500	%	03/01/31	$	456
	2,512,235	FNMA	2.500		04/01/31		2,486,641
	102,458	FNMA	3.500		04/01/31		102,738
	12,062	FNMA	4.000		04/01/31		12,408
	2,388,830	FNMA	3.000		05/01/31		2,413,727
	1,195	FNMA	6.000		05/01/31		1,321
	2,805,661	FNMA	2.500		06/01/31		2,777,077
	573,330	FNMA	4.500		07/01/31		609,829
	64,164	FNMA	4.500		07/01/31		66,691
	366,652	FNMA	4.000		08/01/31		379,861
	3,642,959	FNMA	2.500		09/01/31		3,605,845
	1,890,739	FNMA	3.000		09/01/31		1,910,471
	23,041	FNMA	4.000		09/01/31		23,872
	268	FNMA	6.500		09/01/31		288
	13,258	FNMA	6.000		11/01/31		14,673
	1,781	FNMA	6.500		11/01/31		1,945
	3,860,183	FNMA	2.500		12/01/31		3,820,856
	653,942	FNMA	3.500		01/01/32		662,189
	4,377	FNMA	6.000		01/01/32		4,844
	474	FNMA	6.000		01/01/32		504
	269,879	FNMA	3.500		02/01/32		273,282
	3,062	FNMA	6.000		02/01/32		3,359
	2,514,039	FNMA	3.000		03/01/32		2,540,201
	14,435	FNMA	6.500		04/01/32		15,827
	8,824,432	FNMA	3.000		06/01/32		8,916,211
	26,036	FNMA	6.500		07/01/32		28,064
	5,129	FNMA	6.500		08/01/32		5,576
	301,946	FNMA	3.000		09/01/32		300,767
	4,692	FNMA	7.500		09/01/32		4,780
	907,706	FNMA	3.000		10/01/32		898,563
	25,618	FNMA	5.500		10/01/32		27,796
	6,228	FNMA	6.000		11/01/32		6,890
	5,702,690	FNMA	3.000		12/01/32		5,762,091
	7,459	FNMA	5.500		12/01/32		8,063
	396	FNMA	5.500		12/01/32		421
	11,080	FNMA	6.000		12/01/32		12,076
	58,572	FNMA	5.500		01/01/33		63,975
	144,356	FNMA	6.000		01/01/33		159,674
	53,981	FNMA	5.000		02/01/33		58,328
	2,914	FNMA	5.000		02/01/33		3,078
	661,112	FNMA	3.000		04/01/33		659,683
	769,109	FNMA	3.500		04/01/33		778,792
	3,164	FNMA	6.000		04/01/33		3,481
	3,939,809	FNMA	3.500		05/01/33		4,043,489
	397,785	FNMA	5.500		05/01/33		430,197
	23,158	FNMA	5.000		06/01/33		25,040
	44,246	FNMA	5.500		06/01/33		48,374
	6,761	FNMA	4.500		07/01/33		7,038
	28,890	FNMA	5.000		07/01/33		31,239
	39,038	FNMA	4.500		08/01/33		40,911
	3,566	FNMA	4.500		08/01/33		3,697
	8,447	FNMA	5.000		08/01/33		9,138
	22,231	FNMA	5.500		09/01/33		23,624
	60,731	FNMA	5.500		09/01/33		64,577
	6,448	FNMA	6.000		09/01/33		6,938

121

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	62,789	FNMA	4.500	%	10/01/33	$	66,799
	10,940	FNMA	5.000		10/01/33		11,832
	5,106	FNMA	5.000		10/01/33		5,401
	102,522	FNMA	5.500		10/01/33		109,807
	227,675	FNMA	5.500		10/01/33		248,970
	3,053	FNMA	4.500		11/01/33		3,246
	12,916	FNMA	5.000		11/01/33		13,970
	873,642	FNMA	5.000		11/01/33		944,909
	96,561	FNMA	5.000		12/01/33		104,322
	119,648	FNMA	5.500		12/01/33		130,020
	1,251,762	FNMA	3.000		01/01/34		1,246,489
	39,107	FNMA	5.000		02/01/34		41,469
	172,430	FNMA	6.000		02/01/34		186,413
	9,770	FNMA	5.000		03/01/34		10,555
	3,974	FNMA	5.000		03/01/34		4,293
	231,537	FNMA	5.000		03/01/34		250,237
	5,036	FNMA	5.000		03/01/34		5,438
	11,454	FNMA	5.000		03/01/34		12,155
	3,416	FNMA	5.000		03/01/34		3,691
	30,834	FNMA	5.000		04/01/34		33,343
	35,113	FNMA	5.500		04/01/34		38,086
	16,488	FNMA	4.500		05/01/34		17,438
	7,020	FNMA	4.500		05/01/34		7,409
	8,107	FNMA	5.500		07/01/34		8,877
	12,468	FNMA	5.500		07/01/34		13,652
	12,066	FNMA	7.000		07/01/34		13,067
	92,183	FNMA	5.000		08/01/34		99,663
	10,234	FNMA	5.000		08/01/34		11,055
	55,445	FNMA	6.000		08/01/34		60,922
	9,992	FNMA	6.000		08/01/34		11,045
	10,016,040	FNMA	3.500		09/01/34		10,260,421
	197,027	FNMA	5.500		09/01/34		215,699
	7,307,783	FNMA	2.500		11/01/34		7,233,332
	1,818	FNMA	5.500		11/01/34		1,989
	8,631	FNMA	6.000		11/01/34		9,213
	10,592,707	FNMA	2.500		12/01/34		10,484,790
	15,581,910	FNMA	3.000		12/01/34		15,707,131
	2,936	FNMA	5.000		12/01/34		3,174
	1,806	FNMA	5.500		12/01/34		1,977
	8,954	FNMA	6.000		12/01/34		9,703
	269,449	FNMA	4.500		01/01/35		286,415
	21,213	FNMA	5.500		01/01/35		22,681
	8,479,150	FNMA	3.500		02/01/35		8,691,318
	579,350	FNMA	5.500		02/01/35		634,188
	25,857	FNMA	5.500		02/01/35		28,307
	6,759,100	FNMA	2.500		03/01/35		6,690,240
	73,496	FNMA	5.500		04/01/35		78,138
	24,947	FNMA	6.000		04/01/35		27,269
	24,018	FNMA	6.000		04/01/35		26,038
	8,645,840	FNMA	2.500		05/01/35		8,557,758
	7,865,793	FNMA	3.000		05/01/35		7,930,702
	33,568	FNMA	6.000		05/01/35		36,900
	9,673	FNMA	5.000		06/01/35		10,454

122

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	1,472	i	FNMA	LIBOR 12 M + 1.570%		1.820	%	07/01/35	$	1,478
	29,501		FNMA			5.000		07/01/35		31,903
	2,397,895		FNMA			3.000		08/01/35		2,392,729
	59,900		FNMA			4.500		08/01/35		63,689
	66,180		FNMA			5.000		08/01/35		71,568
	42,239		FNMA			5.000		08/01/35		45,683
	2,227		FNMA			4.500		09/01/35		2,363
	2,715		FNMA			4.500		09/01/35		2,888
	7,297		FNMA			5.500		09/01/35		7,988
	8,672,260		FNMA			2.500		10/01/35		8,583,909
	20,347		FNMA			5.000		10/01/35		21,424
	91,506		FNMA			5.500		10/01/35		99,285
	18,770,945		FNMA			1.500		11/01/35		17,824,186
	17,590,874		FNMA			2.000		11/01/35		17,105,420
	9,421,102		FNMA			2.500		11/01/35		9,325,122
	66,272		FNMA			5.500		11/01/35		71,654
	7,153,644		FNMA			2.000		12/01/35		6,956,223
	24,836,720		FNMA			1.500		01/01/36		23,576,360
	3,067,355		FNMA			3.500		01/01/36		3,105,726
	30,126	i	FNMA	LIBOR 12 M + 1.535%		1.941		02/01/36		30,173
	201,566		FNMA			5.000		02/01/36		218,070
	16,892,977		FNMA			1.500		03/01/36		16,035,296
	83,435,093		FNMA			2.000		03/01/36		81,129,284
	88,138		FNMA			6.000		03/01/36		98,341
	8,703,176		FNMA			1.500		04/01/36		8,261,240
	9,115,964		FNMA			1.000		05/01/36		8,363,934
	26,633,230		FNMA			1.500		05/01/36		25,289,055
	47,819,359		FNMA			2.000		05/01/36		46,498,111
	1,036,711		FNMA			3.500		05/01/36		1,054,911
	1,355		FNMA			5.000		05/01/36		1,465
	134,489		FNMA			6.000		06/01/36		150,106
	16,180	i	FNMA	LIBOR 12 M + 1.595%		1.845		07/01/36		16,210
	18,004,771		FNMA			2.000		07/01/36		17,507,274
	8,525		FNMA			6.000		07/01/36		9,263
	36,667		FNMA			6.500		07/01/36		39,362
	7,672,800		FNMA			3.000		08/01/36		7,656,260
	50,603		FNMA			5.500		08/01/36		53,765
	92,469		FNMA			6.500		08/01/36		101,670
	14,169,543		FNMA			1.500		09/01/36		13,450,006
	18,587,231		FNMA			2.000		09/01/36		18,073,451
	18,158,809		FNMA			2.500		09/01/36		17,973,811
	1,258,255		FNMA			3.000		09/01/36		1,255,543
	7,381		FNMA			5.500		09/01/36		8,079
	2,569		FNMA			6.500		09/01/36		2,804
	8,829		FNMA			6.500		09/01/36		9,689
	11,986		FNMA			6.000		10/01/36		13,386
	29,003,250		FNMA			1.500		11/01/36		27,529,754
	19,151,253		FNMA			2.000		11/01/36		18,621,474
	2,751,409		FNMA			3.000		11/01/36		2,745,477
	6,143		FNMA			6.500		11/01/36		6,664
	36,040		FNMA			6.000		12/01/36		40,244
	12,266,867		FNMA			1.500		01/01/37		11,643,759
	12,229,935		FNMA			2.000		01/01/37		11,891,740
	6,368	i	FNMA	LIBOR 12 M + 1.754%		2.089		01/01/37		6,384
	14,854		FNMA			5.500		01/01/37		16,209

123

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	4,940,387		FNMA			1.500	%	02/01/37	$	4,689,528
	598	i	FNMA	LIBOR 6 M + 1.460%		1.786		02/01/37		608
	110,707		FNMA			5.500		02/01/37		118,529
	5,735		FNMA			6.000		02/01/37		6,312
	11,159		FNMA			7.000		02/01/37		12,007
	39,767,486		FNMA			2.000		03/01/37		38,667,598
	2,414	i	FNMA	LIBOR 12 M + 1.809%		2.282		03/01/37		2,419
	962		FNMA			5.000		03/01/37		1,038
	39,440		FNMA			6.500		03/01/37		44,058
	42,884		FNMA			6.500		03/01/37		47,202
	10,000,000		FNMA			2.500		04/01/37		9,887,500
	23,739		FNMA			7.000		04/01/37		26,388
	42,769		FNMA			5.000		05/01/37		46,114
	1,394		FNMA			7.000		05/01/37		1,456
	5,827	i	FNMA	LIBOR 12 M + 1.782%		2.082		06/01/37		5,837
	7,990		FNMA			5.500		06/01/37		8,737
	10,652		FNMA			5.500		08/01/37		11,665
	5,181		FNMA			6.000		08/01/37		5,780
	14,077		FNMA			5.500		09/01/37		14,968
	18,223		FNMA			6.000		09/01/37		19,973
	34,614		FNMA			6.000		09/01/37		38,258
	21,190		FNMA			6.000		09/01/37		23,640
	61,947		FNMA			6.000		09/01/37		67,889
	79,091		FNMA			6.000		09/01/37		87,929
	12,267		FNMA			6.500		09/01/37		13,169
	4,020		FNMA			6.500		09/01/37		4,315
	11,021	i	FNMA	DGS1 + 2.275%		2.400		10/01/37		11,022
	6,529		FNMA			6.500		10/01/37		7,146
	7,736,536		FNMA			3.500		11/01/37		7,818,160
	64,085		FNMA			5.500		11/01/37		70,614
	139,276		FNMA			6.000		11/01/37		155,441
	2,623		FNMA			7.000		11/01/37		2,685
	2,399,380		FNMA			3.000		12/01/37		2,407,397
	2,598,541		FNMA			4.000		01/01/38		2,684,337
	484		FNMA			6.500		01/01/38		519
	35,557		FNMA			5.500		02/01/38		38,993
	25,213		FNMA			6.500		02/01/38		27,067
	10,194		FNMA			7.000		02/01/38		11,516
	7,533	i	FNMA	LIBOR 12 M + 1.770%		2.145		03/01/38		7,531
	3,192		FNMA			5.000		03/01/38		3,425
	1,595		FNMA			5.000		03/01/38		1,711
	7,525		FNMA			5.500		03/01/38		8,290
	2,996		FNMA			6.000		03/01/38		3,369
	4,843		FNMA			6.500		03/01/38		5,308
	9,291		FNMA			6.500		03/01/38		9,974
	4,825		FNMA			6.500		03/01/38		5,276
	97,025		FNMA			5.500		04/01/38		105,778
	126,282		FNMA			6.000		04/01/38		140,993
	12,046		FNMA			4.500		05/01/38		12,579
	422,964		FNMA			5.000		05/01/38		457,498
	81,380		FNMA			5.000		05/01/38		87,260
	294,728		FNMA			6.000		06/01/38		328,811
	519,428		FNMA			6.500		06/01/38		571,187
	103,943		FNMA			6.000		07/01/38		116,110
	903	i	FNMA	LIBOR 12 M + 1.603%		1.853		08/01/38		937
	315,237		FNMA			6.000		09/01/38		352,140

124

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	10,028	i	FNMA	LIBOR 12 M + 1.321%		1.571	%	10/01/38	$	10,042
	614		FNMA			6.000		10/01/38		658
	4,899		FNMA			5.500		11/01/38		5,373
	1,654		FNMA			5.000		12/01/38		1,784
	283,302		FNMA			5.500		12/01/38		308,294
	32,598		FNMA			4.500		01/01/39		34,588
	29,938		FNMA			5.000		01/01/39		32,117
	1,141,912		FNMA			5.000		01/01/39		1,217,614
	60,136		FNMA			5.500		01/01/39		66,062
	173,331		FNMA			5.500		01/01/39		191,076
	12,018		FNMA			6.000		01/01/39		13,309
	1,393		FNMA			6.000		01/01/39		1,486
	51,859		FNMA			4.500		02/01/39		55,169
	178,519		FNMA			4.500		02/01/39		189,905
	81,753		FNMA			4.500		02/01/39		86,534
	3,824		FNMA			5.500		02/01/39		4,215
	173,100		FNMA			4.000		04/01/39		180,180
	7,969		FNMA			5.500		04/01/39		8,707
	337,243		FNMA			4.500		05/01/39		358,812
	53,598		FNMA			4.500		05/01/39		56,609
	164,542		FNMA			4.500		06/01/39		175,003
	58,420		FNMA			4.500		06/01/39		62,142
	141,590		FNMA			5.500		06/01/39		155,908
	3,590	i	FNMA	LIBOR 12 M + 1.835%		2.085		07/01/39		3,762
	35,519		FNMA			4.500		07/01/39		37,683
	41,171		FNMA			4.500		07/01/39		43,794
	3,499		FNMA			5.000		07/01/39		3,787
	5,972	i	FNMA	LIBOR 12 M + 1.650%		1.900		08/01/39		6,015
	4,957	i	FNMA	LIBOR 12 M + 1.690%		1.940		08/01/39		5,157
	585,629		FNMA			4.000		08/01/39		611,041
	97,920		FNMA			4.000		08/01/39		102,407
	9,003		FNMA			4.500		08/01/39		9,580
	418,920		FNMA			4.500		08/01/39		444,589
	116,131		FNMA			4.500		08/01/39		123,213
	427,169		FNMA			5.000		08/01/39		459,917
	4,013		FNMA			5.000		08/01/39		4,340
	223,021		FNMA			4.000		09/01/39		233,255
	21,650		FNMA			5.000		09/01/39		23,427
	102,935		FNMA			5.500		09/01/39		113,480
	66,408		FNMA			6.000		09/01/39		74,182
	230,134		FNMA			6.500		10/01/39		260,364
	10,989		FNMA			5.000		11/01/39		11,863
	243,988		FNMA			4.000		12/01/39		255,181
	32,725		FNMA			4.500		12/01/39		34,733
	887,865		FNMA			4.500		12/01/39		944,540
	55,312		FNMA			4.500		12/01/39		58,687
	8,413	i	FNMA	LIBOR 12 M + 1.815%		2.161		01/01/40		8,714
	20,453		FNMA			4.500		01/01/40		21,762
	22,290		FNMA			5.000		01/01/40		24,124
	144,380		FNMA			6.000		02/01/40		161,283
	6,476,306		FNMA			2.500		03/01/40		6,258,665
	178,023		FNMA			4.500		03/01/40		189,389
	91,879		FNMA			4.500		03/01/40		97,731
	7,979		FNMA			5.000		03/01/40		8,635
	8,247,598		FNMA			2.500		04/01/40		7,970,313

125

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	8,684,367		FNMA			3.000	%	04/01/40	$	8,597,400
	8,810		FNMA			4.500		04/01/40		9,373
	288,206		FNMA			5.000		04/01/40		310,250
	215,386		FNMA			5.000		04/01/40		233,151
	24,342	i	FNMA	LIBOR 12 M + 1.793%		2.087		05/01/40		25,409
	17,539	i	FNMA	LIBOR 12 M + 1.864%		2.114		05/01/40		17,822
	36,489	i	FNMA	LIBOR 12 M + 1.838%		2.166		05/01/40		37,873
	13,188		FNMA			4.500		05/01/40		13,961
	7,453,699		FNMA			2.500		06/01/40		7,191,383
	18,985		FNMA			4.500		07/01/40		20,096
	20,860		FNMA			4.500		07/01/40		22,190
	27,229		FNMA			5.000		07/01/40		29,477
	165,953		FNMA			4.500		08/01/40		176,435
	239,665		FNMA			4.500		08/01/40		254,787
	177,548		FNMA			5.000		08/01/40		191,369
	396,605		FNMA			4.500		09/01/40		422,035
	173,365		FNMA			4.500		09/01/40		184,421
	401,583		FNMA			6.000		09/01/40		448,231
	57,801		FNMA			3.500		10/01/40		58,949
	249,851		FNMA			4.000		10/01/40		261,337
	517,560		FNMA			4.000		10/01/40		537,147
	447,360		FNMA			4.500		10/01/40		475,997
	497,565		FNMA			3.500		11/01/40		507,451
	530,853		FNMA			4.000		11/01/40		555,275
	580,640		FNMA			4.000		11/01/40		607,167
	319,946		FNMA			4.000		11/01/40		333,872
	63,136		FNMA			4.500		11/01/40		67,177
	15,760,643		FNMA			2.000		12/01/40		14,793,467
	25,080	i	FNMA	LIBOR 12 M + 1.823%		2.073		12/01/40		25,099
	170,162		FNMA			4.000		12/01/40		177,786
	1,459,137		FNMA			4.500		12/01/40		1,551,787
	16,503		FNMA			3.500		01/01/41		16,831
	5,270,421		FNMA			1.500		02/01/41		4,777,784
	12,925,497		FNMA			2.000		02/01/41		12,131,296
	22,696	i	FNMA	LIBOR 12 M + 1.810%		2.172		02/01/41		23,501
	76,880		FNMA			3.500		02/01/41		78,406
	483,160		FNMA			4.000		02/01/41		505,270
	470,742		FNMA			4.000		03/01/41		492,448
	18,076,760		FNMA			2.000		04/01/41		16,965,580
	354,426		FNMA			4.500		04/01/41		376,893
	379,302		FNMA			4.500		05/01/41		400,942
	93,172		FNMA			4.500		05/01/41		99,124
	222,797		FNMA			4.500		06/01/41		236,461
	46,527	i	FNMA	LIBOR 12 M + 1.783%		2.035		07/01/41		48,432
	311,205		FNMA			4.500		07/01/41		331,148
	14,097,189		FNMA			2.000		08/01/41		13,229,380
	24,096,454		FNMA			1.500		09/01/41		21,842,787
	4,790,946		FNMA			2.000		09/01/41		4,495,934
	690,237		FNMA			4.000		09/01/41		720,240
	436,230		FNMA			4.500		09/01/41		462,961
	179,325		FNMA			5.500		09/01/41		196,303
	14,555,186		FNMA			1.500		10/01/41		13,192,588
	9,651,458		FNMA			2.000		10/01/41		9,057,144
	27,179	i	FNMA	LIBOR 12 M + 1.815%		2.065		10/01/41		27,782
	14,657,042		FNMA			2.000		11/01/41		13,754,500
	224,521		FNMA			3.500		11/01/41		229,032

126

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	270,849		FNMA			3.500	%	11/01/41	$	276,291
	109,780	i	FNMA	LIBOR 12 M + 1.750%		2.000		12/01/41		113,512
	10,619,096		FNMA			3.500		12/01/41		10,821,368
	1,654,438		FNMA			3.500		12/01/41		1,687,625
	290,908		FNMA			4.000		12/01/41		303,245
	14,776,312		FNMA			2.500		01/01/42		14,284,306
	774,599		FNMA			3.500		03/01/42		788,817
	531,620		FNMA			4.000		03/01/42		555,783
	1,864,202		FNMA			3.500		04/01/42		1,901,644
	732,567		FNMA			3.500		04/01/42		746,013
	684,248		FNMA			4.500		04/01/42		727,620
	723,184		FNMA			5.000		04/01/42		782,457
	482,942		FNMA			4.000		05/01/42		504,946
	507,344		FNMA			5.000		05/01/42		544,247
	573,680		FNMA			3.000		06/01/42		573,141
	2,217,121		FNMA			3.500		06/01/42		2,257,655
	1,826,672		FNMA			4.000		06/01/42		1,910,839
	1,307,254		FNMA			4.000		06/01/42		1,367,812
	3,315,848		FNMA			3.500		07/01/42		3,376,480
	702,461		FNMA			4.500		07/01/42		741,693
	756,438		FNMA			3.500		08/01/42		771,624
	1,198,140		FNMA			3.000		09/01/42		1,197,421
	1,549,478		FNMA			3.500		09/01/42		1,580,521
	8,398,350		FNMA			4.500		09/01/42		8,927,722
	2,831,295		FNMA			3.000		10/01/42		2,823,065
	707,988		FNMA			3.500		10/01/42		720,937
	1,307,165		FNMA			2.500		01/01/43		1,261,795
	3,927,561		FNMA			3.000		01/01/43		3,899,066
	4,775,129		FNMA			3.000		02/01/43		4,759,492
	13,037,893		FNMA			3.000		04/01/43		13,035,586
	9,154,597		FNMA			3.000		04/01/43		9,122,911
	1,098,999		FNMA			3.000		04/01/43		1,097,404
	3,096,905		FNMA			3.000		04/01/43		3,092,408
	95,813	i	FNMA	LIBOR 12 M + 1.695%		1.945		06/01/43		99,001
	3,095,452		FNMA			3.000		06/01/43		3,089,694
	24,069	i	FNMA	LIBOR 12 M + 1.550%		1.800		07/01/43		24,495
	2,889,002		FNMA			3.000		07/01/43		2,883,038
	7,303,260		FNMA			3.500		07/01/43		7,449,435
	2,124,092		FNMA			3.500		07/01/43		2,162,924
	2,626,870		FNMA			3.000		08/01/43		2,617,062
	1,418,645		FNMA			4.000		08/01/43		1,482,036
	2,226,926		FNMA			3.000		09/01/43		2,218,197
	2,542,065		FNMA			3.500		09/01/43		2,592,919
	2,227,043		FNMA			3.500		10/01/43		2,271,681
	213,114		FNMA			4.500		10/01/43		226,618
	586,555		FNMA			4.000		11/01/43		612,288
	1,380,194		FNMA			4.000		11/01/43		1,439,207
	431,707		FNMA			4.500		12/01/43		460,340
	1,491,901		FNMA			4.500		12/01/43		1,587,842
	1,559,136		FNMA			4.000		01/01/44		1,627,536
	22,215,655		FNMA			4.000		03/01/44		23,103,242
	962,595		FNMA			4.000		05/01/44		1,002,667
	927,260		FNMA			4.000		07/01/44		967,512
	994,743		FNMA			4.000		07/01/44		1,034,668
	705,631		FNMA			3.500		09/01/44		719,034
	904,322		FNMA			4.000		09/01/44		942,486

127

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE
$	2,325,941	FNMA		3.500	%	10/01/44	$	2,372,091
	6,283,811	FNMA		5.000		11/01/44		6,798,909
	918,944	FNMA		4.000		12/01/44		958,739
	2,160,020	FNMA		3.000		01/01/45		2,153,402
	7,531,604	FNMA		3.000		01/01/45		7,518,455
	9,225,882	FNMA		3.500		01/01/45		9,401,305
	3,655,226	FNMA		3.500		02/01/45		3,719,133
	2,385,890	FNMA		3.000		04/01/45		2,371,998
	3,360,134	FNMA		3.500		05/01/45		3,415,501
	3,773,350	FNMA		3.500		07/01/45		3,844,958
	4,197,761	FNMA		4.000		07/01/45		4,379,570
	11,872,876	FNMA		3.500		09/01/45		12,108,502
	5,611,837	FNMA		3.000		11/01/45		5,579,593
	2,418,996	FNMA		3.500		11/01/45		2,454,378
	7,410,968	FNMA		4.000		11/01/45		7,732,448
	1,955,889	FNMA		3.500		12/01/45		1,984,467
	3,259,202	FNMA		3.500		12/01/45		3,311,987
	6,842,974	FNMA		3.500		12/01/45		6,970,062
	9,262,514	FNMA		3.500		01/01/46		9,388,781
	1,822,552	FNMA		3.500		02/01/46		1,855,004
	5,132,364	FNMA		3.500		04/01/46		5,220,991
	2,946,579	FNMA		4.500		05/01/46		3,098,823
	2,458,897	FNMA		3.000		06/01/46		2,444,590
	3,940,042	FNMA		3.500		07/01/46		4,002,905
	6,615,232	FNMA		3.500		08/01/46		6,746,361
	3,650,741	FNMA		4.000		08/01/46		3,788,322
	3,836,415	FNMA		3.000		09/01/46		3,811,770
	2,092,290	FNMA		3.500		09/01/46		2,125,876
	4,724,243	FNMA		3.000		10/01/46		4,686,359
	24,507,242	FNMA		3.000		11/01/46		24,310,949
	2,253,747	FNMA		3.500		12/01/46		2,285,619
	28,983,744	FNMA		3.000		01/01/47		28,763,846
	3,638,929	FNMA		3.000		02/01/47		3,611,799
	2,667,200	FNMA		4.000		02/01/47		2,759,732
	5,203,145	FNMA		3.000		03/01/47		5,164,332
	3,205,071	FNMA		3.500		03/01/47		3,249,530
	783,405	FNMA		4.000		03/01/47		810,590
	586,996	FNMA		4.500		03/01/47		614,276
	4,560,585	FNMA		3.000		04/01/47		4,534,348
	7,251,888	FNMA		3.000		04/01/47		7,205,173
	4,285,920	FNMA		3.500		04/01/47		4,361,225
	2,142,214	FNMA		3.500		05/01/47		2,180,069
	4,252,456	FNMA		3.500		07/01/47		4,336,826
	17,092,627	FNMA		4.000		07/01/47		17,634,335
	21,988,999	FNMA		3.500		11/01/47		22,232,987
	1,701,340	FNMA		4.500		11/01/47		1,780,145
	2,179,830	FNMA		3.500		01/01/48		2,200,534
	8,343,465	FNMA		4.000		01/01/48		8,611,643
	1,236,965	FNMA		3.000		02/01/48		1,220,719
	1,784,217	FNMA		3.500		02/01/48		1,805,081
	12,375,035	FNMA		3.500		04/01/48		12,469,080
	2,639,921	FNMA		4.000		04/01/48		2,699,128
	235,920	FNMA		4.500		04/01/48		244,955
	3,862,207	FNMA		3.500		06/01/48		3,899,429
	6,912,172	FNMA		4.000		07/01/48		7,069,449
	4,667,107	FNMA		4.500		07/01/48		4,845,905

128

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE
$	2,577,929	FNMA		4.000	%	08/01/48	$	2,634,568
	1,895,343	FNMA		4.000		10/01/48		1,940,067
	2,853,761	FNMA		4.500		10/01/48		2,967,381
	19,273,334	FNMA		3.000		11/01/48		19,138,664
	5,147,328	FNMA		4.000		11/01/48		5,262,420
	2,006,621	FNMA		4.500		11/01/48		2,084,143
	1,901,204	FNMA		4.000		12/01/48		1,941,480
	1,677,217	FNMA		4.500		01/01/49		1,739,612
	4,806,121	FNMA		4.500		02/01/49		4,990,358
	5,688,153	FNMA		4.000		04/01/49		5,813,671
	6,298,676	FNMA		5.000		04/01/49		6,668,510
	6,052,018	FNMA		3.500		07/01/49		6,085,004
	21,753,123	FNMA		3.500		08/01/49		21,954,724
	3,810,173	FNMA		4.000		08/01/49		3,891,030
	12,538,651	FNMA		3.000		09/01/49		12,293,339
	6,927,887	FNMA		3.000		12/01/49		6,805,000
	15,401,176	FNMA		3.000		12/01/49		15,176,835
	13,594,512	FNMA		3.000		12/01/49		13,330,056
	27,188,659	FNMA		3.000		02/01/50		26,728,667
	13,604,463	FNMA		3.500		02/01/50		13,666,076
	17,193,240	FNMA		3.000		03/01/50		16,859,912
	24,957,493	FNMA		3.000		05/01/50		24,499,743
	13,804,783	FNMA		3.000		06/01/50		13,544,897
	11,962,504	FNMA		4.000		06/01/50		12,229,123
	14,390,385	FNMA		4.000		08/01/50		14,689,706
	34,416,713	FNMA		2.500		09/01/50		32,927,802
	185,191,838	FNMA		2.500		10/01/50		177,124,859
	22,310,616	FNMA		1.500		11/01/50		19,955,188
	110,856,238	FNMA		2.000		11/01/50		103,272,609
	16,718,698	FNMA		2.500		11/01/50		15,991,494
	62,874,179	FNMA		1.500		12/01/50		56,227,574
	117,654,838	FNMA		2.000		12/01/50		109,597,454
	10,830,904	FNMA		2.500		12/01/50		10,358,622
	89,229,560	FNMA		2.000		01/01/51		83,114,724
	9,180,762	FNMA		1.500		02/01/51		8,209,000
	8,482,769	FNMA		2.000		02/01/51		7,898,477
	109,812,440	FNMA		2.500		02/01/51		104,989,558
	55,341,158	FNMA		1.500		03/01/51		49,482,082
	121,238,716	FNMA		2.000		03/01/51		112,872,026
	23,913,972	FNMA		1.500		04/01/51		21,382,074
	145,997,195	FNMA		2.000		04/01/51		135,868,100
	33,679,811	FNMA		2.500		04/01/51		32,188,847
	92,808,104	FNMA		2.000		05/01/51		86,355,821
	89,035,620	FNMA		2.000		06/01/51		82,819,050
	53,598,077	FNMA		2.500		06/01/51		51,212,698
	56,760,110	FNMA		2.000		07/01/51		52,786,505
	109,821,349	FNMA		2.000		08/01/51		102,250,882
	131,047,264	FNMA		2.500		08/01/51		125,201,852
	48,235,467	FNMA		2.000		09/01/51		44,834,941
	47,397,966	FNMA		2.500		09/01/51		45,283,762
	93,151,866	FNMA		2.000		11/01/51		86,571,703
	48,560,203	FNMA		2.500		11/01/51		46,394,157
	98,567,378	FNMA		2.000		12/01/51		91,749,116
	79,212,406	FNMA		2.000		12/01/51		73,585,857
	88,283,127	FNMA		2.500		12/01/51		84,345,225
	98,727,272	FNMA		2.500		01/01/52		94,323,506

129

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE
$	108,624,947	FNMA		3.000	%	01/01/52	$	106,376,000
	64,592,587	FNMA		2.000		02/01/52		60,004,501
	19,786,157	FNMA		3.500		02/01/52		19,851,080
	94,707,113	FNMA		2.500		03/01/52		90,482,667
	9,967,843	FNMA		3.500		03/01/52		9,998,588
	37,600,000	FNMA		2.000		04/01/52		34,900,438
	42,000,000	FNMA		2.500		04/01/52		40,103,438
	20,500,000	FNMA		3.000		04/01/52		20,069,180
	341	Government National Mortgage Association (GNMA)		4.500		01/20/24		350
	4,565	GNMA		4.000		04/15/24		4,699
	272	GNMA		4.500		07/15/24		277
	17,589	GNMA		4.000		08/15/24		18,110
	4,853	GNMA		4.500		08/15/24		4,933
	11,392	GNMA		4.000		09/15/24		11,679
	3,086	GNMA		4.500		01/15/25		3,137
	29,263	GNMA		4.000		08/15/25		30,141
	13,920	GNMA		3.500		03/15/26		14,199
	15,948	GNMA		4.000		04/15/26		16,427
	17,110	GNMA		4.000		06/20/26		17,637
	27,458	GNMA		3.500		11/20/26		28,064
	132,466	GNMA		3.000		12/15/26		133,439
	446,539	GNMA		2.500		04/20/27		437,602
	336,271	GNMA		2.500		09/20/27		332,789
	216	GNMA		6.500		09/15/28		231
	107	GNMA		6.500		09/15/28		114
	887	GNMA		6.500		11/15/28		947
	166	GNMA		7.500		11/15/28		167
	503,708	GNMA		3.500		11/20/28		515,663
	5,359	GNMA		8.500		10/15/30		5,523
	1,761	GNMA		8.500		10/20/30		1,934
	219	GNMA		8.500		12/15/30		250
	268	GNMA		7.000		06/20/31		294
	238	GNMA		7.000		07/15/31		239
	2,469,987	GNMA		3.000		08/20/32		2,480,658
	98,392	GNMA		6.000		10/15/32		109,570
	12,368	GNMA		5.500		12/20/32		13,695
	29,724	GNMA		5.500		05/15/33		31,809
	3,422	GNMA		5.000		07/15/33		3,695
	13,169	GNMA		5.500		07/15/33		14,295
	3,505	GNMA		5.000		07/20/33		3,799
	9,270	GNMA		5.000		08/15/33		10,005
	17,707	GNMA		5.000		08/15/33		19,206
	65,372	GNMA		5.500		09/15/33		72,300
	47,733	GNMA		6.000		11/20/33		52,133
	20,394	GNMA		5.500		05/20/34		22,010
	31,860	GNMA		6.000		09/20/34		35,434
	2,125	GNMA		5.000		10/20/34		2,303
	57,087	GNMA		5.500		11/15/34		63,094
	30,312	GNMA		6.500		01/15/35		33,214
	16,340	GNMA		5.500		02/20/35		17,859
	299,842	GNMA		5.000		03/20/35		325,099
	90,081	GNMA		5.000		04/15/35		98,532
	93,408	GNMA		5.500		05/20/35		103,657
	3,303	GNMA		5.000		09/20/35		3,529
	3,250	GNMA		5.000		11/15/35		3,510

130

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE
$	2,172	GNMA		5.000	%	11/15/35	$	2,390
	25,669	GNMA		5.500		02/20/36		28,470
	3,341	GNMA		5.500		03/15/36		3,705
	8,132	GNMA		5.500		05/20/36		8,911
	3,012	GNMA		6.500		06/15/36		3,297
	78,862	GNMA		5.500		06/20/36		87,479
	4,753	GNMA		5.000		09/15/36		5,243
	2,276	GNMA		6.000		09/15/36		2,451
	7,720	GNMA		6.000		10/20/36		8,568
	5,205	GNMA		5.000		12/15/36		5,740
	4,748	GNMA		6.000		01/20/37		5,270
	58,911	GNMA		5.500		02/15/37		63,734
	16,823	GNMA		6.000		02/20/37		18,788
	122,548	GNMA		6.000		04/15/37		137,366
	3,027	GNMA		6.500		04/15/37		3,234
	41,752	GNMA		6.000		04/20/37		44,525
	7,123	GNMA		6.000		06/15/37		7,615
	9,066	GNMA		6.000		08/20/37		10,062
	8,055	GNMA		6.500		08/20/37		9,019
	36,301	GNMA		6.500		11/20/37		40,851
	11,372	GNMA		6.000		12/15/37		12,575
	1,901	GNMA		5.000		02/20/38		2,077
	44,841	GNMA		5.000		04/15/38		48,827
	2,156	GNMA		5.500		05/20/38		2,383
	7,951	GNMA		5.500		06/15/38		8,741
	24,529	GNMA		6.000		06/20/38		27,221
	22,507	GNMA		5.500		07/15/38		24,869
	176,479	GNMA		5.000		07/20/38		192,095
	164,550	GNMA		5.500		07/20/38		178,121
	4,707	GNMA		5.500		08/15/38		5,255
	52,768	GNMA		6.000		08/15/38		58,916
	43,079	GNMA		6.000		08/15/38		46,143
	16,562	GNMA		6.000		08/20/38		18,486
	64,823	GNMA		6.000		09/20/38		71,431
	33,521	GNMA		5.000		10/15/38		36,167
	6,722	GNMA		5.500		10/15/38		7,398
	7,711	GNMA		6.500		10/20/38		8,044
	3,426	GNMA		6.500		10/20/38		3,842
	854	GNMA		5.500		11/15/38		953
	15,008	GNMA		6.500		11/20/38		16,714
	62,649	GNMA		6.000		12/15/38		67,809
	932	GNMA		6.500		12/15/38		1,021
	12,556	GNMA		5.000		01/15/39		13,848
	247,759	GNMA		4.500		01/20/39		263,774
	35,706	GNMA		6.500		01/20/39		39,646
	9,991	GNMA		5.000		02/15/39		10,965
	754	GNMA		6.000		02/15/39		805
	9,039	GNMA		4.500		03/15/39		9,750
	108,620	GNMA		4.500		03/15/39		116,774
	3,506	GNMA		4.500		03/20/39		3,732
	70,013	GNMA		5.500		03/20/39		77,663
	6,298	GNMA		4.500		04/15/39		6,774
	124,029	GNMA		5.500		04/15/39		138,473
	2,408	GNMA		5.000		04/20/39		2,642
	10,470	GNMA		4.000		05/15/39		11,036

131

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	167,870		GNMA			4.500	%	05/15/39	$	180,719
	85,519		GNMA			5.000		05/15/39		93,824
	12,434		GNMA			4.000		05/20/39		13,065
	31,293		GNMA			4.500		05/20/39		33,317
	745,676		GNMA			5.000		05/20/39		818,222
	5,322		GNMA			4.500		06/15/39		5,741
	443,178		GNMA			4.500		06/15/39		476,406
	707,020		GNMA			5.000		06/15/39		776,197
	534,838		GNMA			5.000		06/15/39		587,193
	11,385		GNMA			5.000		06/15/39		12,557
	4,657		GNMA			5.000		06/15/39		5,111
	5,527		GNMA			5.000		06/15/39		6,083
	7,085		GNMA			4.000		06/20/39		7,444
	4,653		GNMA			5.000		06/20/39		5,105
	467,362		GNMA			4.000		07/15/39		486,022
	5,298		GNMA			4.500		07/15/39		5,688
	14,988		GNMA			4.500		07/15/39		16,121
	601,010		GNMA			4.500		07/15/39		647,012
	7,201		GNMA			5.000		07/15/39		7,947
	67,996		GNMA			4.500		07/20/39		72,394
	64,062		GNMA			5.000		07/20/39		70,268
	7,447		GNMA			5.500		07/20/39		8,263
	30,067		GNMA			4.000		08/15/39		31,694
	55,610		GNMA			5.000		08/15/39		60,974
	4,960		GNMA			5.500		08/15/39		5,457
	18,255		GNMA			6.000		08/15/39		19,490
	20,919		GNMA			4.000		08/20/39		21,979
	16,014		GNMA			5.000		08/20/39		17,572
	5,216		GNMA			5.000		09/15/39		5,635
	21,939		GNMA			5.000		09/20/39		24,074
	4,520		GNMA			4.500		10/15/39		4,856
	2,423		GNMA			5.000		10/15/39		2,649
	6,807		GNMA			4.500		10/20/39		7,247
	14,494		GNMA			4.500		11/15/39		15,453
	9,749		GNMA			4.500		11/20/39		10,380
	12,139		GNMA			5.000		11/20/39		13,320
	20,500		GNMA			4.500		12/15/39		21,831
	326,715		GNMA			4.500		12/15/39		351,726
	9,873		GNMA			4.500		12/20/39		10,512
	380,773		GNMA			5.000		12/20/39		417,824
	325,327		GNMA			4.500		01/20/40		346,373
	5,724		GNMA			5.500		01/20/40		6,322
	224,254		GNMA			5.500		02/15/40		249,273
	28,769		GNMA			4.000		03/15/40		30,412
	5,927		GNMA			5.000		03/15/40		6,399
	1,422		GNMA			4.500		04/15/40		1,514
	55,014		GNMA			5.000		04/15/40		60,214
	13,230		GNMA			4.500		04/20/40		14,087
	1,903		GNMA			4.500		05/15/40		2,048
	61,155		GNMA			5.000		05/15/40		67,014
	95,446	i	GNMA	DGS1 + 1.500%		1.875		05/20/40		98,570
	2,754		GNMA			4.500		05/20/40		2,932
	1,245,787		GNMA			4.500		06/15/40		1,344,113

132

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	3,596		GNMA			4.500	%	06/15/40	$	3,872
	3,893		GNMA			4.500		06/15/40		4,176
	68,983		GNMA			5.000		06/20/40		75,573
	115,553		GNMA			4.500		07/15/40		124,328
	36,738		GNMA			4.500		07/15/40		39,504
	462,737		GNMA			4.500		07/20/40		492,677
	14,264		GNMA			5.000		07/20/40		15,600
	91,834		GNMA			4.000		08/15/40		95,909
	486,775		GNMA			4.000		08/15/40		510,468
	44,560		GNMA			4.500		08/15/40		48,099
	34,516		GNMA			4.500		08/20/40		36,750
	30,339		GNMA			4.500		09/20/40		32,309
	11,595		GNMA			5.500		09/20/40		12,862
	10,459		GNMA			6.500		09/20/40		11,481
	15,554		GNMA			4.000		10/15/40		16,394
	25,702		GNMA			6.000		10/20/40		28,313
	180,430		GNMA			4.000		11/15/40		188,485
	396,759		GNMA			4.000		11/20/40		416,861
	92,232		GNMA			3.500		12/15/40		94,453
	182,955		GNMA			5.500		12/20/40		203,044
	503,127		GNMA			4.000		01/15/41		532,263
	1,070,576		GNMA			4.000		01/20/41		1,119,578
	101,798		GNMA			4.000		02/15/41		107,790
	292,889		GNMA			4.500		02/20/41		314,348
	172,400		GNMA			4.500		03/15/41		185,848
	335,735		GNMA			4.500		04/20/41		357,460
	77,465		GNMA			5.000		04/20/41		84,903
	24,553	i	GNMA	DGS1 + 1.500%		1.875		06/20/41		25,345
	70,889		GNMA			4.000		07/15/41		75,056
	138,074		GNMA			4.000		07/20/41		145,073
	473,558		GNMA			4.500		07/20/41		504,203
	420,444		GNMA			5.000		07/20/41		461,361
	88,957		GNMA			4.500		08/15/41		95,809
	202,162		GNMA			5.000		08/20/41		221,838
	276,622		GNMA			4.000		09/15/41		290,433
	15,925	i	GNMA	DGS1 + 1.500%		1.625		09/20/41		16,370
	645,048		GNMA			4.000		09/20/41		677,736
	45,404		GNMA			4.000		10/15/41		48,069
	29,877	i	GNMA	DGS1 + 1.500%		1.750		10/20/41		30,676
	17,693	i	GNMA	DGS1 + 1.500%		1.750		10/20/41		18,166
	830,857		GNMA			4.000		10/20/41		873,002
	123,851		GNMA			5.500		10/20/41		137,472
	227,032		GNMA			3.500		11/15/41		232,936
	573,251		GNMA			4.000		11/15/41		604,337
	1,128,944		GNMA			4.500		11/20/41		1,202,220
	523,063		GNMA			5.000		11/20/41		574,119
	115,055		GNMA			6.000		11/20/41		127,722
	579,141		GNMA			3.500		01/20/42		594,640
	86,471	i	GNMA	DGS1 + 1.500%		2.000		02/20/42		89,579
	277,899		GNMA			3.500		03/20/42		285,329
	526,144		GNMA			4.500		03/20/42		560,300
	518,504		GNMA			3.500		04/15/42		532,080
	1,114,259		GNMA			3.500		05/20/42		1,133,905
	2,633,269		GNMA			3.500		05/20/42		2,703,686
	611,771		GNMA			4.000		05/20/42		646,704
	1,123,869		GNMA			3.500		07/15/42		1,157,495
	113,652	i	GNMA	DGS1 + 1.500%		1.625		07/20/42		116,677

133

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE
$	616,155	GNMA		3.500	%	07/20/42	$	632,652
	811,248	GNMA		3.000		08/20/42		809,083
	1,132,095	GNMA		3.500		08/20/42		1,157,774
	2,573,232	GNMA		3.500		08/20/42		2,632,998
	593,123	GNMA		6.000		08/20/42		658,018
	1,038,495	GNMA		3.500		10/20/42		1,061,184
	1,201,579	GNMA		3.000		11/20/42		1,198,375
	1,188,007	GNMA		3.000		12/20/42		1,176,056
	1,403,090	GNMA		3.000		12/20/42		1,399,347
	788,716	GNMA		3.000		01/15/43		783,609
	3,009,136	GNMA		3.000		01/15/43		3,023,169
	1,049,191	GNMA		3.000		01/20/43		1,046,393
	1,780,185	GNMA		3.000		02/20/43		1,775,437
	1,403,026	GNMA		3.000		02/20/43		1,388,880
	292,677	GNMA		3.000		04/15/43		290,782
	339,248	GNMA		5.000		04/20/43		372,420
	711,298	GNMA		3.000		05/20/43		709,402
	1,083,508	GNMA		3.000		06/20/43		1,080,618
	2,759,797	GNMA		3.500		06/20/43		2,808,435
	2,363,272	GNMA		3.000		07/20/43		2,356,966
	1,122,363	GNMA		3.500		07/20/43		1,152,412
	4,807,131	GNMA		4.500		08/20/43		5,165,339
	1,551,119	GNMA		3.500		09/20/43		1,592,542
	510,066	GNMA		4.000		09/20/43		535,922
	6,576,254	GNMA		3.500		10/20/43		6,751,804
	3,044,620	GNMA		4.000		10/20/43		3,198,975
	277,169	GNMA		3.500		11/20/43		284,564
	547,792	GNMA		4.000		11/20/43		575,565
	534,705	GNMA		4.500		12/20/43		573,904
	582,332	GNMA		4.500		01/20/44		625,375
	681,457	GNMA		3.500		02/20/44		699,640
	938,496	GNMA		4.000		02/20/44		986,029
	936,861	GNMA		4.000		05/20/44		984,327
	975,032	GNMA		4.000		06/20/44		1,024,413
	2,532,807	GNMA		3.500		07/20/44		2,598,302
	7,714,032	GNMA		3.500		10/20/44		7,901,090
	803,993	GNMA		4.500		10/20/44		855,798
	1,796,695	GNMA		3.500		11/20/44		1,839,504
	2,223,977	GNMA		3.000		12/20/44		2,218,094
	4,135,258	GNMA		4.000		12/20/44		4,344,746
	5,614,174	GNMA		3.500		02/20/45		5,745,803
	3,300,661	GNMA		4.000		03/20/45		3,467,666
	2,295,267	GNMA		3.000		04/20/45		2,289,161
	4,917,715	GNMA		3.000		06/20/45		4,933,742
	11,146,355	GNMA		3.000		07/20/45		11,112,137
	3,832,081	GNMA		4.000		10/20/45		3,947,239
	6,506,752	GNMA		4.000		11/20/45		6,830,501
	2,819,614	GNMA		3.000		12/20/45		2,809,821
	2,572,471	GNMA		3.500		12/20/45		2,628,494
	13,831,343	GNMA		3.000		03/20/46		13,780,525
	4,852,353	GNMA		3.000		04/20/46		4,833,821
	2,981,107	GNMA		4.000		04/20/46		3,072,872
	13,058,073	GNMA		3.000		05/20/46		13,007,621
	8,115,691	GNMA		3.500		05/20/46		8,268,818
	2,973,030	GNMA		3.000		06/20/46		2,961,487

134

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE
$	1,826,238	GNMA		3.500	%	06/20/46	$	1,859,024
	2,259,760	GNMA		3.000		07/20/46		2,251,028
	3,856,944	GNMA		3.500		08/20/46		3,925,942
	2,186,417	GNMA		3.000		09/20/46		2,183,279
	9,049,701	GNMA		3.500		09/20/46		9,202,564
	4,254,444	GNMA		3.000		10/20/46		4,237,925
	2,332,938	GNMA		3.000		12/20/46		2,323,873
	14,645,459	GNMA		3.000		01/20/47		14,588,649
	1,719,381	GNMA		4.000		01/20/47		1,778,098
	3,829,771	GNMA		4.000		04/20/47		3,945,910
	3,906,786	GNMA		3.500		05/20/47		3,963,052
	2,013,454	GNMA		3.500		06/20/47		2,042,484
	2,494,042	GNMA		3.000		07/20/47		2,484,026
	4,896,198	GNMA		4.500		07/20/47		5,153,862
	4,664,118	GNMA		3.000		08/20/47		4,644,941
	5,292,339	GNMA		3.500		08/20/47		5,368,646
	9,297,446	GNMA		3.000		09/20/47		9,258,641
	12,307,472	GNMA		4.000		09/20/47		12,712,340
	8,528,222	GNMA		3.500		11/20/47		8,651,224
	6,331,725	GNMA		3.500		12/20/47		6,418,320
	4,063,219	GNMA		3.500		01/20/48		4,118,126
	5,216,115	GNMA		4.000		05/20/48		5,350,163
	3,875,636	GNMA		4.000		06/20/48		3,988,065
	8,883,368	GNMA		3.500		07/20/48		9,007,537
	4,058,433	GNMA		4.000		08/20/48		4,176,316
	3,060,760	GNMA		5.000		08/20/48		3,225,489
	2,644,477	GNMA		4.500		09/20/48		2,760,039
	2,371,698	GNMA		5.000		10/20/48		2,490,384
	1,870,601	GNMA		4.500		11/20/48		1,946,170
	4,162,358	GNMA		3.500		04/20/49		4,195,519
	14,735,801	GNMA		4.500		04/20/49		15,324,079
	4,336,734	GNMA		4.000		05/20/49		4,441,973
	2,724,670	GNMA		3.500		06/20/49		2,745,249
	6,098,061	GNMA		3.500		09/20/49		6,146,751
	4,398,593	GNMA		3.500		11/20/49		4,431,815
	32,717,742	GNMA		2.500		12/20/49		31,775,687
	18,165,612	GNMA		3.000		02/20/50		18,029,236
	9,758,606	GNMA		3.500		02/20/50		9,832,310
	13,398,492	GNMA		3.500		04/20/50		13,515,404
	12,315,544	GNMA		3.000		05/20/50		12,222,861
	50,297,477	GNMA		3.000		08/20/50		49,919,054
	12,791,420	GNMA		3.000		09/20/50		12,695,137
	19,142,313	GNMA		2.500		10/20/50		18,591,140
	49,276,363	GNMA		2.000		11/20/50		47,109,268
	17,115,556	GNMA		2.500		12/20/50		16,622,741
	24,257,422	GNMA		2.000		01/20/51		23,166,926
	7,356,775	GNMA		2.500		01/20/51		7,144,948
	17,317,308	GNMA		2.000		02/20/51		16,537,918
	4,623,893	GNMA		1.500		04/20/51		4,239,960
	20,250,286	GNMA		2.000		04/20/51		19,338,736
	42,977,876	GNMA		2.500		04/20/51		41,740,396
	17,588,179	GNMA		2.500		05/20/51		17,081,755
	91,632,355	GNMA		2.500		07/20/51		88,993,947
	23,880,024	GNMA		2.500		08/20/51		23,192,436
	29,007,868	GNMA		2.500		09/20/51		28,172,632

135

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	198,064,096		GNMA		2.000	%	11/20/51	$	189,102,406
	19,806,406		GNMA		2.000		12/20/51		18,908,568
	29,618,978		GNMA		2.500		12/20/51		28,766,146
	29,526,817		GNMA		3.000		12/20/51		29,230,262
	4,937,794		GNMA		3.500		01/20/52		4,975,088
	14,954,975		GNMA		2.500		02/20/52		14,524,370
	29,916,255		GNMA		3.500		02/20/52		30,142,204
	10,500,000		GNMA		2.000		04/20/52		9,988,945
	15,250,000		GNMA		2.500		04/20/52		14,804,414
	5,000,000		GNMA		3.000		04/20/52		4,948,438
			TOTAL MORTGAGE BACKED						5,813,379,168
MUNICIPAL BONDS - 0.8%
	200,000		Alabama Economic Settlement Authority		4.263		09/15/32		215,000
	250,000		Alabama Federal Aid Highway Finance Authority		2.650		09/01/37		223,337
	300,000		American Municipal Power		7.834		02/15/41		440,503
	480,000		American Municipal Power		6.270		02/15/50		605,006
	1,165,000		American Municipal Power		8.084		02/15/50		1,929,979
	750,000		American University		3.672		04/01/49		728,316
	750,000		Bay Area Toll Authority		2.574		04/01/31		710,242
	1,000,000		Bay Area Toll Authority		6.918		04/01/40		1,370,066
	2,000,000		Bay Area Toll Authority		6.263		04/01/49		2,841,785
	755,000		Bay Area Toll Authority		3.126		04/01/55		653,329
	100,000	h	California Health Facilities Financing Authority		4.190		06/01/37		102,051
	100,000	h	California Health Facilities Financing Authority		4.353		06/01/41		101,776
	200,000		California Institute of Technology		4.321		08/01/45		216,996
	750,000		California Institute of Technology		3.650		09/01/19		643,234
	200,000		California State University		3.899		11/01/47		205,575
	1,000,000		California State University		2.897		11/01/51		870,012
	750,000		California State University		2.975		11/01/51		669,122
	950,000		California State University		2.939		11/01/52		815,595
	720,000		Central Puget Sound Regional Transit Authority		5.491		11/01/39		902,610
	1,665,000		Charlotte-Mecklenburg Hospital Authority		3.204		01/15/51		1,601,524
	460,000		Chicago Metropolitan Water Reclamation District-Greater Chicago		5.720		12/01/38		568,891
	2,250,000		Chicago O’Hare International Airport		6.395		01/01/40		3,017,274
	200,000		Chicago O’Hare International Airport		4.472		01/01/49		231,977
	200,000		Chicago O’Hare International Airport		4.572		01/01/54		237,741
	680,000		City of Atlanta GA Water & Wastewater Revenue		2.257		11/01/35		607,886
	690,000		City of Houston TX		3.961		03/01/47		734,744
	140,000		City of Los Angeles Department of Airports Customer Facility Charge Revenue		4.242		05/15/48		138,084
	1,000,000		City of Riverside CA		3.857		06/01/45		974,996
	310,000		City of San Antonio TX Electric & Gas Systems Revenue		2.905		02/01/48		263,578
	310,000		City of San Francisco CA Public Utilities Commission Water Revenue		3.303		11/01/39		294,185
	865,000		City of San Francisco CA Public Utilities Commission Water Revenue		2.825		11/01/41		759,664
	875,000		City of Tucson AZ		2.856		07/01/47		758,760
	750,000		City Public Service Board of San Antonio TX		5.808		02/01/41		932,767
	150,000		Colorado Bridge Enterprise		6.078		12/01/40		185,421
	200,000		Commonwealth Financing Authority		4.014		06/01/33		211,110
	100,000		Commonwealth Financing Authority		3.864		06/01/38		103,502
	100,000		Commonwealth Financing Authority		4.144		06/01/38		106,842
	645,000		Commonwealth Financing Authority		3.807		06/01/41		657,792
	825,000		Commonwealth Financing Authority		2.991		06/01/42		747,198
	500,000		Commonwealth of Massachusetts		5.731		06/01/40		627,247
	1,000,000		Commonwealth of Massachusetts		2.514		07/01/41		854,866

136

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE
$	100,000	Commonwealth of Massachusetts		3.277	%	06/01/46	$	92,895
	750,000	Commonwealth of Massachusetts		2.900		09/01/49		645,496
	130,000	County of Broward FL Airport System Revenue		3.477		10/01/43		122,500
	200,000	County of Clark NV		6.820		07/01/45		289,187
	135,000	County of Miami-Dade FL Aviation Revenue		4.280		10/01/41		138,878
	200,000	County of Miami-Dade FL Water & Sewer System Revenue		3.490		10/01/42		197,579
	1,000,000	County of Riverside CA		3.818		02/15/38		1,008,788
	1,485,000	Dallas Area Rapid Transit		2.613		12/01/48		1,224,562
	750,000	Dallas Area Rapid Transit		5.022		12/01/48		892,069
	255,000	Dallas Fort Worth International Airport		2.843		11/01/46		222,715
	250,000	Dallas/Fort Worth International Airport		2.994		11/01/38		232,412
	235,000	Dallas/Fort Worth International Airport		3.089		11/01/40		217,058
	100,000	Dallas/Fort Worth International Airport		3.144		11/01/45		91,135
	210,000	Dallas/Fort Worth International Airport		2.919		11/01/50		188,543
	350,000	Denver City & County School District No. 1		4.242		12/15/37		373,662
	200,000	District of Columbia		5.591		12/01/34		235,942
	470,000	District of Columbia Water & Sewer Authority		3.207		10/01/48		419,660
	445,000	District of Columbia Water & Sewer Authority		4.814		10/01/14		499,983
	500,000	Duke University		2.682		10/01/44		443,171
	115,000	Duke University		3.299		10/01/46		111,735
	500,000	Duke University		2.757		10/01/50		437,835
	500,000	Duke University		2.832		10/01/55		438,848
	5,000	Energy Northwest		2.814		07/01/24		5,012
	360,000	Foothill-Eastern Transportation Corridor Agency		4.094		01/15/49		358,491
	300,000	Foothill-Eastern Transportation Corridor Agency		3.924		01/15/53		293,384
	300,000	George Washington University		4.300		09/15/44		322,310
	200,000	George Washington University		4.868		09/15/45		229,907
	375,000	George Washington University		4.126		09/15/48		397,133
	100,000	Georgetown University		4.315		04/01/49		106,331
	500,000	Georgetown University		2.943		04/01/50		407,871
	300,000	Georgetown University		5.215		10/01/18		342,032
	1,000,000	Golden State Tobacco Securitization Corp		3.487		06/01/36		913,033
	1,500,000	Golden State Tobacco Securitization Corp		3.115		06/01/38		1,367,768
	430,000	Golden State Tobacco Securitization Corp		3.714		06/01/41		383,288
	770,000	Golden State Tobacco Securitization Corp		3.850		06/01/50		740,160
	1,000,000	Golden State Tobacco Securitization Corp		4.214		06/01/50		888,557
	970,000	Grand Parkway Transportation Corp		3.236		10/01/52		875,982
	175,000	Great Lakes Water Authority Sewage Disposal System Revenue		3.056		07/01/39		164,405
	330,000	Great Lakes Water Authority Water Supply System Revenue		3.473		07/01/41		322,170
	200,000	Health & Educational Facilities Authority of the State of Missouri		3.651		01/15/46		195,003
	200,000	Health & Educational Facilities Authority of the State of Missouri		3.086		09/15/51		174,214
	200,000	Health & Educational Facilities Authority of the State of Missouri		3.652		08/15/57		192,641
	1,500,000	Idaho Energy Resources Authority		2.861		09/01/46		1,280,554
	500,000	Illinois State Toll Highway Authority		6.184		01/01/34		619,089
	385,000	Indiana Finance Authority		3.051		01/01/51		350,514
	770,000	JobsOhio Beverage System		2.833		01/01/38		707,403
	1,500,000	Kansas Development Finance Authority		2.774		05/01/51		1,246,717
	1,000,000	Los Angeles Community College District		1.606		08/01/28		927,520
	1,000,000	Los Angeles Community College District		1.806		08/01/30		904,705
	770,000	Los Angeles Community College District		2.106		08/01/32		692,535
	240,000	Los Angeles Community College District		6.750		08/01/49		361,468
	350,000	Los Angeles Department of Water & Power Power System Revenue		5.716		07/01/39		438,664
	1,500,000	Los Angeles Department of Water & Power Power System Revenue		6.574		07/01/45		2,107,906
	1,630,000	Los Angeles Unified School District		5.750		07/01/34		1,931,287
	1,000,000	Maryland Health & Higher Educational Facilities Authority		3.052		07/01/40		882,511

137

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE
$	1,000,000	Maryland Health & Higher Educational Facilities Authority		3.197	%	07/01/50	$	866,490
	1,000,000	Massachusetts School Building Authority		1.753		08/15/30		911,295
	100,000	Massachusetts School Building Authority		5.715		08/15/39		124,376
	500,000	Massachusetts School Building Authority		3.395		10/15/40		469,165
	1,000,000	Massachusetts Water Resources Authority		2.823		08/01/41		921,497
	100,000	Metropolitan Government of Nashville & Davidson County Convention Center Authority		6.731		07/01/43		131,895
	200,000	Metropolitan Government of Nashville & Davidson County Health & Educational Facilities		4.053		07/01/26		208,215
	940,000	Metropolitan Transportation Authority		6.648		11/15/39		1,168,102
	1,150,000	Metropolitan Transportation Authority		7.336		11/15/39		1,680,746
	335,000	Metropolitan Transportation Authority		5.175		11/15/49		383,301
	350,000	Michigan Finance Authority		3.384		12/01/40		333,946
	570,000	Michigan State Building Authority		2.705		10/15/40		502,938
	235,000	Michigan State University		4.496		08/15/48		250,807
	1,000,000	Michigan State University		4.165		08/15/22		975,054
	770,000	Michigan Strategic Fund		3.225		09/01/47		700,041
	500,000	Missouri Highway & Transportation Commission		5.445		05/01/33		577,574
	244,000	Municipal Electric Authority of Georgia		6.637		04/01/57		325,641
	486,000	Municipal Electric Authority of Georgia		6.655		04/01/57		658,561
	947,000	New Jersey Economic Development Authority		7.425		02/15/29		1,112,862
	1,335,000	New Jersey State Turnpike Authority		7.414		01/01/40		1,944,588
	1,000,000	New Jersey State Turnpike Authority		7.102		01/01/41		1,418,832
	800,000	New Jersey Transportation Trust Fund Authority		5.754		12/15/28		881,574
	500,000	New Jersey Transportation Trust Fund Authority		4.081		06/15/39		500,785
	195,000	New Jersey Transportation Trust Fund Authority		4.131		06/15/42		192,888
	2,385,000	New York City Municipal Water Finance Authority		5.440		06/15/43		3,056,668
	1,000,000	New York City Transitional Finance Authority Future Tax Secured Revenue		5.767		08/01/36		1,161,022
	1,000,000	New York State Dormitory Authority		2.202		03/15/34		854,386
	130,000	New York State Dormitory Authority		5.628		03/15/39		153,916
	545,000	New York State Dormitory Authority		5.600		03/15/40		664,518
	500,000	New York State Dormitory Authority		3.142		07/01/43		472,630
	200,000	New York State Dormitory Authority		4.946		08/01/48		212,718
	500,000	New York State Thruway Authority		2.900		01/01/35		467,762
	110,000	New York State Thruway Authority		3.500		01/01/42		104,536
	1,000,000	New York State Urban Development Corp		3.900		03/15/33		1,029,551
	2,000,000	North Texas Tollway Authority		3.011		01/01/43		1,812,421
	1,000,000	North Texas Tollway Authority		6.718		01/01/49		1,480,950
	675,000	Ohio State Water Development Authority		4.879		12/01/34		742,005
	605,000	Ohio Turnpike & Infrastructure Commission		3.216		02/15/48		553,190
	678,791	Oregon School Boards Association		4.759		06/30/28		707,465
	250,000	Oregon School Boards Association		5.680		06/30/28		274,077
	1,000,000	Oregon State University		3.424		03/01/60		970,537
	500,000	Pennsylvania State University		2.790		09/01/43		448,948
	205,000	Pennsylvania State University		2.840		09/01/50		178,938
	300,000	Permanent University Fund-Texas A&M University System		3.660		07/01/47		317,241
	200,000	Permanent University Fund-University of Texas System		3.376		07/01/47		191,953
	560,000	Port Authority of New York & New Jersey		1.086		07/01/23		553,337
	1,215,000	Port Authority of New York & New Jersey		6.040		12/01/29		1,450,750
	500,000	Port Authority of New York & New Jersey		5.647		11/01/40		610,026
	300,000	Port Authority of New York & New Jersey		4.823		06/01/45		315,991
	1,000,000	Port Authority of New York & New Jersey		5.310		08/01/46		1,049,100
	200,000	Port Authority of New York & New Jersey		4.031		09/01/48		206,643
	900,000	Port Authority of New York & New Jersey		3.139		02/15/51		808,841

138

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	400,000	Port Authority of New York & New Jersey	4.229	%	10/15/57	$	427,994
	1,600,000	Port Authority of New York & New Jersey	3.175		07/15/60		1,351,352
	2,200,000	Port Authority of New York & New Jersey	4.810		10/15/65		2,574,258
	250,000	Port Authority of New York & New Jersey	3.287		08/01/69		215,941
	1,000,000	Port of Morrow OR	2.543		09/01/40		854,464
	220,000	Princeton University	5.700		03/01/39		283,065
	750,000	Regents of the University of California Medical Center Pooled Revenue	3.006		05/15/50		656,324
	750,000	Regents of the University of California Medical Center Pooled Revenue	3.256		05/15/60		666,394
	750,000	Regents of the University of California Medical Center Pooled Revenue	3.706		05/15/20		632,909
	500,000	Rutgers The State University of New Jersey	3.270		05/01/43		462,428
	500,000	Rutgers The State University of New Jersey	3.915		05/01/19		455,630
	195,000	Sales Tax Securitization Corp	4.637		01/01/40		217,624
	1,125,000	Sales Tax Securitization Corp	3.238		01/01/42		1,036,799
	200,000	Sales Tax Securitization Corp	3.587		01/01/43		196,218
	1,000,000	Sales Tax Securitization Corp	3.820		01/01/48		980,275
	200,000	Sales Tax Securitization Corp	4.787		01/01/48		224,791
	100,000	Salt River Project Agricultural Improvement & Power District	4.839		01/01/41		117,844
	435,000	San Diego County Regional Transportation Commission	3.248		04/01/48		412,103
	500,000	San Diego County Water Authority	6.138		05/01/49		677,384
	1,000,000	San Joaquin Hills Transportation Corridor Agency	3.492		01/15/50		897,132
	100,000	San Jose Redevelopment Agency	3.375		08/01/34		98,412
	800,000	Santa Clara Valley Transportation Authority	5.876		04/01/32		906,547
	270,000	South Carolina Public Service Authority	2.388		12/01/23		269,199
	750,000	State Board of Administration Finance Corp	1.258		07/01/25		712,444
	750,000	State Board of Administration Finance Corp	1.705		07/01/27		699,079
	400,000	State Board of Administration Finance Corp	2.154		07/01/30		365,127
	200,000	State of California	3.375		04/01/25		203,682
	200,000	State of California	3.500		04/01/28		205,426
	300,000	State of California	4.500		04/01/33		325,787
	250,000	State of California	7.500		04/01/34		344,550
	225,000	State of California	4.600		04/01/38		246,150
	1,285,000	State of California	7.550		04/01/39		1,905,458
	3,400,000	State of California	7.300		10/01/39		4,785,494
	2,740,000	State of California	7.625		03/01/40		4,033,321
	1,500,000	State of California	7.600		11/01/40		2,281,941
	200,000	State of California Department of Water Resources Power Supply Revenue	2.000		05/01/22		200,161
	620,000	State of Connecticut	5.850		03/15/32		736,476
	5,950,000	State of Illinois	5.100		06/01/33		6,327,274
	1,295,000	State of Illinois	6.725		04/01/35		1,468,639
	500,000	State of Kansas Department of Transportation	4.596		09/01/35		569,463
	2,000,000	State of Louisiana Gasoline & Fuels Tax Revenue	2.952		05/01/41		1,816,897
	113,324	State of Oregon	5.762		06/01/23		116,212
	85,000	State of Oregon	5.892		06/01/27		94,316
	100,000	State of Oregon Department of Transportation	5.834		11/15/34		122,240
	600,000	State of Texas	4.631		04/01/33		691,641
	50,000	State of Texas	5.517		04/01/39		63,328
	1,000,000	State of Texas	4.681		04/01/40		1,161,704
	500,000	State of Utah	3.539		07/01/25		507,257
	200,000	State of Washington	5.090		08/01/33		224,300
	200,000	State of Wisconsin	3.154		05/01/27		201,697
	200,000	State of Wisconsin	3.954		05/01/36		207,036
	604,000	State Public School Building Authority	5.000		09/15/27		655,883
	100,000	Sumter Landing Community Development District	4.172		10/01/47		105,732
	430,000	Texas Private Activity Bond Surface Transportation Corp	3.922		12/31/49		440,799
	1,000,000	Texas Transportation Commission	2.562		04/01/42		866,843

139

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
$	1,000,000	Texas Transportation Commission	2.472	%	10/01/44	$	832,766
	575,000	Texas Transportation Commission State Highway Fund	5.028		04/01/26		603,568
	1,190,000	Texas Transportation Commission State Highway Fund	5.178		04/01/30		1,325,708
	560,000	Texas Transportation Commission State Highway Fund	4.000		10/01/33		598,273
	100,000	The Ohio State University	4.910		06/01/40		116,630
	500,000	The Ohio State University	3.798		12/01/46		498,534
	200,000	The Ohio State University	4.048		12/01/56		210,980
	1,000,000	Trustees of the University of Pennsylvania	2.396		10/01/50		814,606
	100,000	Trustees of the University of Pennsylvania	4.674		09/01/12		113,302
	500,000	Trustees of the University of Pennsylvania	3.610		02/15/19		426,652
	1,000,000	University of California	0.883		05/15/25		939,948
	200,000	University of California	3.063		07/01/25		201,002
	1,000,000	University of California	1.316		05/15/27		917,948
	500,000	University of California	3.349		07/01/29		503,522
	1,000,000	University of California	1.614		05/15/30		882,191
	200,000	University of California	5.770		05/15/43		244,959
	200,000	University of California	3.931		05/15/45		202,437
	200,000	University of California	4.131		05/15/45		204,840
	1,500,000	University of California	5.946		05/15/45		1,877,716
	1,500,000	University of California	3.071		05/15/51		1,305,725
	860,000	University of California	4.858		05/15/12		959,827
	200,000	University of California	4.767		05/15/15		219,161
	500,000	University of Chicago	2.761		04/01/45		444,510
	300,000	University of Chicago	4.003		10/01/53		320,952
	750,000	University of Michigan	2.437		04/01/40		653,195
	500,000	University of Michigan	2.562		04/01/50		422,242
	750,000	University of Michigan	3.504		04/01/52		762,631
	500,000	University of Michigan	3.504		04/01/52		507,486
	750,000	University of Michigan	4.454		04/01/22		799,679
	500,000	University of Nebraska Facilities Corp	3.037		10/01/49		460,148
	200,000	University of Notre Dame du Lac	3.438		02/15/45		195,279
	200,000	University of Notre Dame du Lac	3.394		02/15/48		202,581
	300,000	University of Southern California	3.028		10/01/39		280,390
	200,000	University of Southern California	3.841		10/01/47		211,737
	500,000	University of Southern California	2.805		10/01/50		442,551
	200,000	University of Southern California	5.250		10/01/11		253,356
	200,000	University of Texas System	3.852		08/15/46		211,745
	700,000	University of Texas System	4.794		08/15/46		838,448
	750,000	University of Texas System	2.439		08/15/49		610,772
	1,000,000	University of Virginia	2.256		09/01/50		793,232
	1,600,000	University of Virginia	2.584		11/01/51		1,359,165
	500,000	University of Virginia	3.227		09/01/19		380,477
	150,000	Virginia Commonwealth Transportation Board	5.350		05/15/35		171,073
	750,000	Westchester County Local Development Corp	3.846		11/01/50		695,406
	200,000	William Marsh Rice University	3.574		05/15/45		202,453
	200,000	William Marsh Rice University	3.774		05/15/55		211,689
		TOTAL MUNICIPAL BONDS					169,340,030
U.S. TREASURY SECURITIES - 39.0%
	21,250,000	United States Treasury Bond	4.500		02/15/36		26,888,721
	22,400,000	United States Treasury Bond	5.000		05/15/37		29,968,750
	179,483,000	United States Treasury Bond	3.500		02/15/39		205,634,233
	2,000,000	United States Treasury Bond	4.500		08/15/39		2,581,484
	44,850,000	United States Treasury Bond	4.375		11/15/39		57,013,811
	97,000,000	United States Treasury Bond	1.875		02/15/32		93,150,312
	57,000,000	United States Treasury Bond	1.125		05/15/40		44,914,219
	32,500,000	United States Treasury Bond	1.125		08/15/40		25,478,223

140

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE
$	17,585,000	United States Treasury Bond		3.875	%	08/15/40	$	21,004,458
	11,185,000	United States Treasury Bond		4.250		11/15/40		13,978,628
	127,500,000	United States Treasury Bond		1.375		11/15/40		104,236,230
	76,500,000	United States Treasury Bond		1.875		02/15/41		68,117,871
	76,000,000	United States Treasury Bond		2.250		05/15/41		71,745,781
	26,350,000	United States Treasury Bond		4.375		05/15/41		33,484,057
	10,000,000	United States Treasury Bond		3.750		08/15/41		11,757,031
	70,000,000	United States Treasury Bond		1.750		08/15/41		60,670,312
	21,150,000	United States Treasury Bond		2.000		11/15/41		19,137,445
	48,300,000	United States Treasury Bond		3.125		11/15/41		52,079,098
	18,550,000	United States Treasury Bond		3.125		02/15/42		20,025,305
	54,500,000	United States Treasury Bond		2.250		02/15/42		52,566,953
	22,000,000	United States Treasury Bond		3.000		05/15/42		23,300,234
	20,000,000	United States Treasury Bond		2.750		08/15/42		20,336,719
	10,250,000	United States Treasury Bond		2.875		05/15/43		10,611,152
	16,000,000	United States Treasury Bond		2.500		02/15/45		15,583,750
	22,000,000	United States Treasury Bond		3.000		05/15/45		23,373,281
	16,000,000	United States Treasury Bond		2.875		08/15/45		16,677,500
	27,000,000	United States Treasury Bond		2.500		05/15/46		26,454,727
	13,300,000	United States Treasury Bond		2.875		11/15/46		13,983,184
	28,000,000	United States Treasury Bond		3.000		02/15/47		30,127,344
	30,000,000	United States Treasury Bond		2.750		08/15/47		31,091,016
	45,000,000	United States Treasury Bond		2.750		11/15/47		46,691,015
	38,500,000	United States Treasury Bond		3.000		02/15/48		41,945,449
	48,500,000	United States Treasury Bond		3.125		05/15/48		54,149,492
	35,500,000	United States Treasury Bond		3.000		08/15/48		38,761,562
	35,000,000	United States Treasury Bond		3.375		11/15/48		40,982,812
	82,500,000	United States Treasury Bond		3.000		02/15/49		90,682,324
	10,500,000	United States Treasury Bond		2.875		05/15/49		11,291,602
	7,500,000	United States Treasury Bond		2.250		08/15/49		7,131,445
	8,615,000	United States Treasury Bond		2.375		11/15/49		8,427,220
	35,850,000	United States Treasury Bond		1.250		05/15/50		26,739,059
	28,000,000	United States Treasury Bond		1.375		08/15/50		21,551,250
	68,500,000	United States Treasury Bond		1.625		11/15/50		56,132,539
	50,000,000	United States Treasury Bond		1.875		02/15/51		43,689,453
	52,500,000	United States Treasury Bond		2.375		05/15/51		51,445,899
	44,575,000	United States Treasury Bond		2.000		08/15/51		40,215,008
	47,500,000	United States Treasury Bond		1.875		11/15/51		41,666,406
	58,000,000	United States Treasury Bond		2.250		02/15/52		55,625,625
	12,000,000	United States Treasury Note		1.625		12/15/22		12,022,969
	60,000,000	United States Treasury Note		2.625		02/28/23		60,525,000
	80,000,000	United States Treasury Note		2.500		03/31/23		80,612,500
	15,000,000	United States Treasury Note		0.250		04/15/23		14,769,727
	85,000,000	United States Treasury Note		0.125		04/30/23		83,499,219
	30,000,000	United States Treasury Note		2.750		04/30/23		30,304,688
	80,000,000	United States Treasury Note		2.750		05/31/23		80,775,000
	25,000,000	United States Treasury Note		0.125		06/30/23		24,450,195
	91,500,000	United States Treasury Note		2.625		06/30/23		92,257,734
	70,000,000	United States Treasury Note		2.750		07/31/23		70,648,047
	7,000,000	United States Treasury Note		0.125		08/31/23		6,810,234
	116,000,000	United States Treasury Note		2.750		08/31/23		117,064,844

141

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE
$	25,000,000	United States Treasury Note		0.125	%	09/15/23	$	24,304,688
	35,000,000	United States Treasury Note		2.875		09/30/23		35,389,648
	13,000,000	United States Treasury Note		2.750		11/15/23		13,108,672
	10,000,000	United States Treasury Note		2.125		11/30/23		9,985,937
	65,000,000	United States Treasury Note		2.875		11/30/23		65,680,469
	1,800,000	United States Treasury Note		0.750		12/31/23		1,753,312
	99,300,000	United States Treasury Note		2.500		01/31/24		99,633,586
	70,000,000	United States Treasury Note		2.375		02/29/24		70,076,563
	15,000,000	United States Treasury Note		0.250		03/15/24		14,409,375
	325,000,000	United States Treasury Note		2.125		03/31/24		323,641,601
	174,000,000	United States Treasury Note		2.250		04/30/24		173,537,813
	30,000,000	United States Treasury Note		0.250		05/15/24		28,674,609
	111,500,000	United States Treasury Note		2.000		05/31/24		110,559,219
	152,000,000	United States Treasury Note		1.750		06/30/24		149,803,126
	212,000,000	United States Treasury Note		1.750		07/31/24		208,687,500
	20,000,000	United States Treasury Note		0.375		08/15/24		19,046,875
	22,000,000	United States Treasury Note		1.250		08/31/24		21,376,953
	81,000,000	United States Treasury Note		1.500		09/30/24		79,092,070
	90,500,000	United States Treasury Note		1.500		10/31/24		88,294,063
	40,005,000	United States Treasury Note		2.250		11/15/24		39,756,531
	61,900,000	United States Treasury Note		1.500		11/30/24		60,299,304
	75,000,000	United States Treasury Note		1.750		12/31/24		73,494,141
	40,000,000	United States Treasury Note		2.250		12/31/24		39,728,125
	13,000,000	United States Treasury Note		1.375		01/31/25		12,599,844
	40,000,000	United States Treasury Note		1.125		02/28/25		38,451,562
	73,000,000	United States Treasury Note		0.500		03/31/25		68,771,133
	8,000,000	United States Treasury Note		2.625		03/31/25		8,025,625
	50,000,000	United States Treasury Note		0.375		04/30/25		46,818,360
	134,000,000	United States Treasury Note		0.250		06/30/25		124,489,141
	110,000,000	United States Treasury Note		0.250		07/31/25		101,982,032
	54,000,000	United States Treasury Note		0.250		08/31/25		49,962,657
	20,000,000	United States Treasury Note		2.750		08/31/25		20,143,750
	50,000,000	United States Treasury Note		0.250		09/30/25		46,187,500
	30,000,000	United States Treasury Note		3.000		09/30/25		30,462,891
	97,000,000	United States Treasury Note		0.250		10/31/25		89,433,242
	30,000,000	United States Treasury Note		2.250		11/15/25		29,694,141
	275,000,000	United States Treasury Note		0.375		11/30/25		254,246,094
	50,000,000	United States Treasury Note		0.375		12/31/25		46,169,922
	126,000,000	United States Treasury Note		0.375		01/31/26		116,092,266
	137,000,000	United States Treasury Note		0.500		02/28/26		126,660,781
	90,000,000	United States Treasury Note		0.750		03/31/26		83,928,515
	50,000,000	United States Treasury Note		2.250		03/31/26		49,474,610
	120,000,000	United States Treasury Note		0.750		04/30/26		111,768,750
	30,000,000	United States Treasury Note		1.625		05/15/26		28,946,484
	165,000,000	United States Treasury Note		0.750		05/31/26		153,462,890
	135,000,000	United States Treasury Note		0.875		06/30/26		126,087,891
	85,000,000	United States Treasury Note		0.625		07/31/26		78,432,422
	115,000,000	United States Treasury Note		0.750		08/31/26		106,586,133
	60,000,000	United States Treasury Note		0.875		09/30/26		55,849,219
	71,000,000	United States Treasury Note		1.625		09/30/26		68,362,461

142

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE
$	170,000,000	United States Treasury Note		1.125	%	10/31/26	$	159,906,250
	10,000,000	United States Treasury Note		1.625		10/31/26		9,626,563
	115,000,000	United States Treasury Note		1.250		11/30/26		108,805,273
	81,000,000	United States Treasury Note		1.250		12/31/26		76,529,180
	89,500,000	United States Treasury Note		1.750		12/31/26		86,598,242
	72,000,000	United States Treasury Note		1.500		01/31/27		68,805,000
	79,000,000	United States Treasury Note		1.875		02/28/27		76,883,046
	95,000,000	United States Treasury Note		2.500		03/31/27		95,196,680
	5,000,000	United States Treasury Note		0.500		06/30/27		4,518,750
	46,000,000	United States Treasury Note		2.250		08/15/27		45,504,063
	75,000,000	United States Treasury Note		0.625		11/30/27		67,710,937
	48,800,000	United States Treasury Note		2.750		02/15/28		49,554,875
	66,000,000	United States Treasury Note		2.875		05/15/28		67,539,140
	20,000,000	United States Treasury Note		1.250		06/30/28		18,604,688
	50,000,000	United States Treasury Note		1.125		08/31/28		46,066,406
	10,000,000	United States Treasury Note		1.375		10/31/28		9,348,437
	85,000,000	United States Treasury Note		3.125		11/15/28		88,502,930
	70,000,000	United States Treasury Note		1.500		11/30/28		65,936,718
	50,000,000	United States Treasury Note		1.750		01/31/29		47,875,000
	50,000,000	United States Treasury Note		2.625		02/15/29		50,601,563
	50,000,000	United States Treasury Note		2.375		03/31/29		49,878,906
	92,000,000	United States Treasury Note		2.375		05/15/29		91,734,063
	22,000,000	United States Treasury Note		1.625		08/15/29		20,863,047
	117,000,000	United States Treasury Note		1.500		02/15/30		109,687,500
	50,000,000	United States Treasury Note		0.625		05/15/30		43,595,703
	37,000,000	United States Treasury Note		0.625		08/15/30		32,137,969
	64,000,000	United States Treasury Note		0.875		11/15/30		56,672,500
	30,000,000	United States Treasury Note		1.125		02/15/31		27,087,891
	121,000,000	United States Treasury Note		1.625		05/15/31		113,919,610
	39,000,000	United States Treasury Note		1.250		08/15/31		35,453,437
	10,200,000	United States Treasury Note		1.375		11/15/31		9,358,500
		TOTAL U.S. TREASURY SECURITIES						8,234,767,509
		TOTAL GOVERNMENT BONDS						15,167,794,803
		(Cost $15,828,276,498)
STRUCTURED ASSETS - 2.5%
ASSET BACKED - 0.6%
	143,157	American Airlines Pass Through Trust		3.600		09/22/27		139,123
		Series - 2015 2 (Class AA)
	147,625	American Airlines Pass Through Trust		3.575		01/15/28		140,261
		Series - 2016 1 (Class AA)
	439,588	American Airlines Pass Through Trust		3.200		06/15/28		417,162
		Series - 2016 2 (Class AA)
	636,760	American Airlines Pass Through Trust		3.000		10/15/28		591,673
		Series - 2016 3 (Class AA)
	227,250	American Airlines Pass Through Trust		3.650		02/15/29		220,103
		Series - 2017 1 (Class AA)
	668,680	American Airlines Pass Through Trust		3.150		02/15/32		628,121
		Series - 2019 1 (Class AA)
	1,600,000	American Express Credit Account Master Trust		0.900		11/15/26		1,525,475
		Series - 2021 1 (Class A)
	22,662	AmeriCredit Automobile Receivables Trust		2.600		09/18/23		22,679
		Series - 2017 4 (Class C)
	405,390	AmeriCredit Automobile Receivables Trust		1.110		08/19/24		405,124
		Series - 2020 1 (Class A3)

143

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE
$	500,000	AmeriCredit Automobile Receivables Trust		1.480	%	01/21/25	$	497,350
		Series - 2020 1 (Class B)
	500,000	AmeriCredit Automobile Receivables Trust		1.060		08/18/26		480,177
		Series - 2020 3 (Class C)
	1,500,000	AmeriCredit Automobile Receivables Trust		0.680		10/19/26		1,447,063
		Series - 2021 1 (Class B)
	1,000,000	AmeriCredit Automobile Receivables Trust		0.890		10/19/26		949,887
		Series - 2021 1 (Class C)
	500,000	AmeriCredit Automobile Receivables Trust		0.690		01/19/27		478,238
		Series - 2021 2 (Class B)
	500,000	AmeriCredit Automobile Receivables Trust		1.010		01/19/27		469,657
		Series - 2021 2 (Class C)
	2,500,000	BA Credit Card Trust		0.340		05/15/26		2,411,011
		Series - 2020 A1 (Class A1)
	960,000	BA Credit Card Trust		0.440		09/15/26		918,444
		Series - 2021 A1 (Class A1)
	2,450,000	Barclays Dryrock Issuance Trust		0.630		07/15/27		2,327,470
		Series - 2021 1 (Class A)
	1,000,000	BMW Vehicle Lease Trust		0.430		01/27/25		960,335
		Series - 2021 2 (Class A4)
	10,000,000	Cantor Commercial Real Estate Lending		3.523		05/15/52		9,983,978
		Series - 2019 CF1 (Class A4)
	6,000,000	Cantor Commercial Real Estate Lending		3.623		05/15/52		6,006,947
		Series - 2019 CF1 (Class A2)
	2,000,000	Capital One MExecution Trust		1.040		11/16/26		1,912,454
		Series - 2021 A3 (Class A3)
	2,500,000	Capital One Multi-Asset Execution Trust		2.060		08/15/28		2,413,983
		Series - 2019 A3 (Class A3)
	338,313	Capital One Prime Auto Receivables Trust		2.510		11/15/23		339,309
		Series - 2019 1 (Class A3)
	1,000,000	CarMax Auto Owner Trust		2.770		12/16/24		1,006,215
		Series - 2019 2 (Class A4)
	500,000	CarMax Auto Owner Trust		0.500		08/15/25		490,955
		Series - 2020 4 (Class A3)
	2,000,000	CarMax Auto Owner Trust		0.520		02/17/26		1,929,309
		Series - 2021 2 (Class A3)
	500,000	CarMax Auto Owner Trust		0.530		10/15/26		473,069
		Series - 2021 1 (Class A4)
	900,000	CarMax Auto Owner Trust		0.740		10/15/26		844,735
		Series - 2021 1 (Class B)
	1,000,000	CarMax Auto Owner Trust		1.470		12/15/26		967,743
		Series - 2022 1 (Class A3)
	700,000	CarMax Auto Owner Trust		2.200		11/15/27		668,502
		Series - 2022 1 (Class C)
	500,000	Carvana Auto Receivables Trust		3.000		02/10/28		477,553
		Series - 2022 P1 (Class B)
	1,000,000	Carvana Auto Receivables Trust		3.520		02/10/28		996,254
		Series - 2022 P1 (Class A4)
	500,000	Carvana Auto Receivables Trust		3.300		04/10/28		477,799
		Series - 2022 P1 (Class C)
	400,000	CNH Equipment Trust		0.440		08/17/26		384,627
		Series - 2021 B (Class A3)
	1,000,000	CNH Equipment Trust		0.700		05/17/27		935,503
		Series - 2021 B (Class A4)

144

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	5,107		Continental Airlines Pass Through Trust		5.983	%	04/19/22	$	5,114
			Series - 2007 1 (Class A)
	120,239		Continental Airlines Pass Through Trust		4.000		10/29/24		119,903
			Series - 2012 2 (Class A)
	89,651		Delta Air Lines Pass Through Trust		3.625		07/30/27		88,736
			Series - 2015 1 (Class AA)
	273,093		Delta Air Lines Pass Through Trust		2.000		06/10/28		248,833
			Series - 2020 1 (Class AA)
	1,500,000		Discover Card Execution Note Trust		0.580		09/15/26		1,423,888
			Series - 2021 A1 (Class A1)
	1,500,000		Discover Card Execution Note Trust		1.030		09/15/28		1,391,069
			Series - 2021 A2 (Class A2)
	1,000,000		Drive Auto Receivables Trust		1.020		06/15/27		984,999
			Series - 2021 1 (Class C)
	1,500,000		Exeter Automobile Receivables Trust		3.020		06/15/28		1,459,348
			Series - 2022 1A (Class D)
	919,791		FedEx Corp 2020- Class AA Pass Through Trust		1.875		02/20/34		837,550
	3,000,000		FHLMC Multifamily Structured Pass Through Certificates		2.307		08/25/22		3,005,665
			Series - 2012 K023 (Class A2)
	499,408		FHLMC Multifamily Structured Pass Through Certificates		2.510		11/25/22		501,231
			Series - 2013 K026 (Class A2)
	500,000		FHLMC Multifamily Structured Pass Through Certificates		2.637		01/25/23		502,739
			Series - 2013 K027 (Class A2)
	8,627		FHLMC Multifamily Structured Pass Through Certificates		2.669		02/25/23		8,652
			Series - 2013 K034 (Class A1)
	3,000,000	i	FHLMC Multifamily Structured Pass Through Certificates		3.060		07/25/23		3,029,054
			Series - 2013 K033 (Class A2)
	1,750,000	i	FHLMC Multifamily Structured Pass Through Certificates		3.531		07/25/23		1,774,417
			Series - 2013 K034 (Class A2)
	1,500,000	i	FHLMC Multifamily Structured Pass Through Certificates		3.527		10/25/23		1,520,246
			Series - 2014 K036 (Class A2)
	3,000,000		FHLMC Multifamily Structured Pass Through Certificates		3.023		11/25/25		3,021,712
			Series - 2015 K045 (Class A2)
	1,224,000		FHLMC Multifamily Structured Pass Through Certificates		1.760		03/25/28		1,153,256
			Series - 2021 K742 (Class A2)
	749,000		FHLMC Multifamily Structured Pass Through Certificates		1.369		04/25/28		679,069
			Series - 2021 K742 (Class AM)
	563,294		Ford Credit Auto Lease Trust		0.620		08/15/23		562,736
			Series - 2020 B (Class A3)
	500,000		Ford Credit Auto Lease Trust		1.000		11/15/23		497,436
			Series - 2020 B (Class B)
	1,500,000		Ford Credit Auto Lease Trust		0.300		04/15/24		1,475,599
			Series - 2021 A (Class A4)
	600,000		Ford Credit Auto Lease Trust		0.470		05/15/24		587,506
			Series - 2021 A (Class B)
	602,220		Ford Credit Auto Owner Trust		2.230		10/15/23		603,399
			Series - 2019 B (Class A3)
	500,000		Ford Credit Auto Owner Trust		0.510		08/15/26		472,881
			Series - 2020 C (Class A4)
	2,000,000		Ford Credit Auto Owner Trust		0.490		09/15/26		1,890,570
			Series - 2021 A (Class A4)
	1,000,000		Ford Credit Auto Owner Trust		1.560		05/15/27		957,053
			Series - 2022 A (Class A4)

145

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE
$	1,000,000	Ford Credit Auto Owner Trust		1.910	%	07/15/27	$	960,891
		Series - 2022 A (Class B)
	850,000	Ford Credit Floorplan Master Owner Trust		2.440		09/15/26		837,453
		Series - 2019 4 (Class A)
	1,000,000	GM Financial Consumer Automobile Receivables Trust		2.710		08/16/24		1,006,166
		Series - 2019 2 (Class A4)
	340,151	GM Financial Consumer Automobile Receivables Trust		1.490		12/16/24		339,544
		Series - 2020 2 (Class A3)
	500,000	GM Financial Consumer Automobile Receivables Trust		0.380		08/18/25		492,217
		Series - 2020 4 (Class A3)
	750,000	GM Financial Consumer Automobile Receivables Trust		0.350		10/16/25		735,425
		Series - 2021 1 (Class A3)
	500,000	GM Financial Consumer Automobile Receivables Trust		0.500		02/17/26		474,954
		Series - 2020 4 (Class A4)
	1,000,000	GM Financial Consumer Automobile Receivables Trust		0.510		04/16/26		969,294
		Series - 2021 2 (Class A3)
	680,000	GM Financial Consumer Automobile Receivables Trust		1.260		11/16/26		658,010
		Series - 2022 1 (Class A3)
	1,000,000	GM Financial Leasing Trust		1.010		07/21/25		967,193
		Series - 2021 1 (Class D)
	850,000	GM Financial Securitized Term		1.510		04/17/28		811,851
		Series - 2022 1 (Class A4)
	1,000,000	Honda Auto Receivables Owner Trust		0.000		05/15/26		981,615
		Series - 2022 1 (Class A3)
	1,000,000	Honda Auto Receivables Owner Trust		0.550		08/16/27		952,260
		Series - 2021 2 (Class A4)
	1,000,000	Honda Auto Receivables Owner Trust		0.420		01/21/28		954,452
		Series - 2021 1 (Class A4)
	500,000	Hyundai Auto Receivables Trust		0.380		09/15/25		487,473
		Series - 2021 A (Class A3)
	2,000,000	Hyundai Auto Receivables Trust		3.030		11/17/25		2,006,906
		Series - 2019 A (Class C)
	1,000,000	Hyundai Auto Receivables Trust		0.620		05/17/27		942,173
		Series - 2021 A (Class A4)
	457,325	JetBlue Pass Through Trust		2.750		05/15/32		428,099
		Series - 2019 1 (Class AA)
	800,000	John Deere Owner Trust		0.520		03/16/26		766,321
		Series - 2021 B (Class A3)
	500,000	John Deere Owner Trust		0.740		05/15/28		469,434
		Series - 2021 B (Class A4)
	250,000	Mercedes-Benz Auto Lease Trust		0.500		06/15/26		246,408
		Series - 2020 B (Class A4)
	1,000,000	Mercedes-Benz Auto Lease Trust		0.320		10/15/26		974,186
		Series - 2021 A (Class A4)
	342,005	Nissan Auto Receivables Owner Trust		2.900		10/16/23		343,354
		Series - 2019 A (Class A3)
	539,442	Nissan Auto Receivables Owner Trust		2.500		11/15/23		541,725
		Series - 2019 B (Class A3)
	1,000,000	Nissan Auto Receivables Owner Trust		1.860		08/17/26		981,456
		Series - 2022 A (Class A3)
	52,948	Santander Drive Auto Receivables Trust		0.480		07/15/24		52,932
		Series - 2020 4 (Class A3)
	500,000	Santander Drive Auto Receivables Trust		0.730		03/17/25		498,713
		Series - 2020 4 (Class B)

146

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE
$	1,000,000	Santander Drive Auto Receivables Trust		0.500	%	04/15/25	$	995,760
		Series - 2021 1 (Class B)
	250,000	Santander Drive Auto Receivables Trust		1.010		01/15/26		247,163
		Series - 2020 4 (Class C)
	500,000	Santander Drive Auto Receivables Trust		0.750		02/17/26		490,337
		Series - 2021 1 (Class C)
	1,500,000	Santander Drive Auto Receivables Trust		1.350		07/15/27		1,435,821
		Series - 2021 2 (Class D)
	65,980	Spirit Airlines Pass Through Trust		4.100		04/01/28		64,390
		Series - 2015 1A (Class )
	500,000	Toyota Auto Receivables Owner Trust		0.470		01/15/26		477,801
		Series - 2020 D (Class A4)
	1,500,000	Toyota Auto Receivables Owner Trust		0.530		10/15/26		1,404,382
		Series - 2021 B (Class A4)
	158,798	Union Pacific Railroad Co Pass Through Trust		2.695		05/12/27		154,290
		Series - 2015 1 (Class )
	290,820	United Airlines Pass Through Trust		4.150		04/11/24		291,727
		Series - 2012 1 (Class A)
	188,410	United Airlines Pass Through Trust		4.300		08/15/25		188,145
		Series - 2013 1 (Class A)
	216,000	United Airlines Pass Through Trust		4.875		01/15/26		213,180
		Series - 2020 1 (Class B)
	190,609	United Airlines Pass Through Trust		3.750		09/03/26		185,996
		Series - 2014 2 (Class A)
	2,187,677	United Airlines Pass Through Trust		5.875		10/15/27		2,264,434
		Series - 2020 A (Class )
	146,812	United Airlines Pass Through Trust		3.450		12/01/27		144,979
		Series - 2015 1 (Class AA)
	152,511	United Airlines Pass Through Trust		3.100		07/07/28		147,709
		Series - 2016 1 (Class AA)
	152,511	United Airlines Pass Through Trust		3.450		07/07/28		142,068
		Series - 2016 1 (Class A)
	315,421	United Airlines Pass Through Trust		2.875		10/07/28		298,919
		Series - 2016 2 (Class AA)
	1,250,844	United Airlines Pass Through Trust		3.500		03/01/30		1,208,816
		Series - 2018 1 (Class AA)
	318,533	United Airlines Pass Through Trust		4.150		08/25/31		321,478
		Series - 2019 1 (Class AA)
	233,895	United Airlines Pass Through Trust		2.700		05/01/32		214,113
		Series - 2019 2 (Class AA)
	4,410,000	Verizon Master Trust		0.500		05/20/27		4,198,209
		Series - 2021 1 (Class A)
	3,000,000	Verizon Master Trust		0.690		05/20/27		2,853,958
		Series - 2021 1 (Class B)
	815,000	Verizon Master Trust		0.890		05/20/27		776,745
		Series - 2021 1 (Class C)
	750,000	Volkswagen Auto Lease Trust		0.450		07/21/25		736,722
		Series - 2020 A (Class A4)
	2,000,000	World Omni Auto Receivables Trust		0.300		01/15/26		1,955,465
		Series - 2021 A (Class A3)
	1,000,000	World Omni Auto Receivables Trust		0.690		06/15/27		944,432
		Series - 2021 B (Class A4)
	500,000	World Omni Auto Receivables Trust		1.040		06/15/27		474,086
		Series - 2021 B (Class B)

147

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	500,000		World Omni Automobile Lease Securitization Trust		0.450	%	02/15/24	$	493,925
			Series - 2020 B (Class A3)
	500,000		World Omni Automobile Lease Securitization Trust		0.750		11/16/26		476,354
			Series - 2021 A (Class B)
			TOTAL ASSET BACKED						117,822,858
OTHER MORTGAGE BACKED - 1.9%
	2,500,000		BANK		1.650		12/15/53		2,198,960
			Series - 2020 BN30 (Class A3)
	1,500,000		BANK		1.925		12/15/53		1,339,057
			Series - 2020 BN30 (Class A4)
	500,000	i	BANK		2.111		12/15/53		447,281
			Series - 2020 BN30 (Class AS)
	500,000	i	BANK		2.445		12/15/53		449,275
			Series - 2020 BN30 (Class B)
	2,000,000		BANK		1.771		02/15/54		1,775,683
			Series - 2021 BN31 (Class A3)
	1,000,000		BANK		2.036		02/15/54		900,522
			Series - 2021 BN31 (Class A4)
	500,000	i	BANK		2.211		02/15/54		453,171
			Series - 2021 BN31 (Class AS)
	500,000	i	BANK		2.383		02/15/54		446,309
			Series - 2021 BN31 (Class B)
	500,000	i	BANK		2.545		02/15/54		434,308
			Series - 2021 BN31 (Class C)
	2,000,000		BANK		3.538		11/15/54		2,017,233
			Series - 2017 BNK9 (Class A4)
	1,500,000		BANK		3.390		06/15/60		1,502,076
			Series - 2017 BNK5 (Class A5)
	5,000,000		BANK		3.641		02/15/61		5,030,076
			Series - 2018 BN10 (Class ASB)
	2,000,000	i	BANK		3.898		02/15/61		2,026,745
			Series - 2018 BN10 (Class AS)
	8,000,000		BANK		3.584		05/15/62		8,100,165
			Series - 2019 BN18 (Class A4)
	5,000,000		BANK		1.584		03/15/63		4,396,833
			Series - 2020 BN28 (Class A3)
	1,000,000		BANK		2.438		06/15/63		932,431
			Series - 2021 BN34 (Class A5)
	1,000,000		BANK		2.556		05/15/64		937,805
			Series - 2021 BN33 (Class A5)
	1,000,000		BANK		2.792		05/15/64		945,313
			Series - 2021 BN33 (Class AS)
	500,000		BANK		3.297		05/15/64		460,669
			Series - 2021 BN33 (Class C)
	1,000,000	g,i	BANK		2.500		06/15/64		798,927
			Series - 2021 BN35 (Class D)
	3,000,000		Barclays Commercial Mortgage Trust		3.674		02/15/50		3,044,842
			Series - 2017 C1 (Class A4)
	12,500,000		Barclays Commercial Mortgage Trust		2.690		02/15/53		12,296,052
			Series - 2020 C6 (Class A2)
	2,685,447		Benchmark Mortgage Trust		3.571		01/15/51		2,692,996
			Series - 2018 B1 (Class A2)

148

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	1,000,000	i	Benchmark Mortgage Trust		3.878	%	01/15/51	$	1,015,061
			Series - 2018 B1 (Class AM)
	862,691		Benchmark Mortgage Trust		3.976		07/15/51		869,756
			Series - 2018 B4 (Class A2)
	1,000,000	i	Benchmark Mortgage Trust		4.551		07/15/51		998,627
			Series - 2018 B4 (Class C)
	5,850,000		Benchmark Mortgage Trust		3.542		05/15/52		5,896,282
			Series - 2019 B11 (Class A5)
	1,000,000	i	Benchmark Mortgage Trust		2.944		02/15/53		953,708
			Series - 2020 B16 (Class AM)
	1,500,000	i	Benchmark Mortgage Trust		3.176		02/15/53		1,413,278
			Series - 2020 B16 (Class B)
	1,500,000	i	Benchmark Mortgage Trust		3.535		02/15/53		1,387,181
			Series - 2020 B16 (Class C)
	2,000,000	i	Benchmark Mortgage Trust		4.510		05/15/53		2,126,551
			Series - 2018 B7 (Class A4)
	5,000,000		Benchmark Mortgage Trust		1.925		07/15/53		4,489,952
			Series - 2020 B18 (Class A5)
	2,500,000		Benchmark Mortgage Trust		1.704		12/17/53		2,205,778
			Series - 2020 B21 (Class A4)
	2,500,000		Benchmark Mortgage Trust		1.978		12/17/53		2,241,006
			Series - 2020 B21 (Class A5)
	2,500,000		Benchmark Mortgage Trust		1.685		01/15/54		2,218,045
			Series - 2020 B22 (Class A4)
	1,500,000		Benchmark Mortgage Trust		1.973		01/15/54		1,344,009
			Series - 2020 B22 (Class A5)
	1,500,000		Benchmark Mortgage Trust		2.163		01/15/54		1,341,423
			Series - 2020 B22 (Class AM)
	2,000,000		Benchmark Mortgage Trust		1.620		02/15/54		1,881,709
			Series - 2021 B23 (Class A2)
	1,500,000		Benchmark Mortgage Trust		1.823		02/15/54		1,336,749
			Series - 2021 B23 (Class A4A1)
	1,500,000		Benchmark Mortgage Trust		2.070		02/15/54		1,354,182
			Series - 2021 B23 (Class A5)
	500,000		Benchmark Mortgage Trust		2.095		02/15/54		435,200
			Series - 2021 B23 (Class B)
	500,000		Benchmark Mortgage Trust		2.274		02/15/54		448,803
			Series - 2021 B23 (Class AS)
	500,000	i	Benchmark Mortgage Trust		2.563		02/15/54		432,872
			Series - 2021 B23 (Class C)
	1,000,000		Benchmark Mortgage Trust		2.577		04/15/54		939,338
			Series - 2021 B25 (Class A5)
	1,000,000		Benchmark Mortgage Trust		2.847		04/15/54		951,433
			Series - 2021 B25 (Class AS)
	1,700,000		Benchmark Mortgage Trust		2.613		06/15/54		1,601,168
			Series - 2021 B26 (Class A5)
	702,000	i	Benchmark Mortgage Trust		2.688		06/15/54		634,606
			Series - 2021 B26 (Class B)
	500,000		Benchmark Mortgage Trust		2.825		06/15/54		470,958
			Series - 2021 B26 (Class AM)
	1,500,000		Benchmark Mortgage Trust		2.512		07/15/54		1,380,054
			Series - 2021 B27 (Class AS)
	5,000,000		Benchmark Mortgage Trust		2.914		12/15/72		4,931,568
			Series - 2019 B15 (Class A2)

149

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	1,000,000	i	CD Mortgage Trust		3.526	%	11/10/49	$	1,004,071
			Series - 2016 CD2 (Class A4)
	2,000,000		CD Mortgage Trust		3.631		02/10/50		2,017,397
			Series - 2017 CD3 (Class A4)
	1,000,000		CD Mortgage Trust		3.025		08/15/50		1,000,739
			Series - 2017 CD5 (Class A2)
	2,500,000		CD Mortgage Trust		3.431		08/15/50		2,495,855
			Series - 2017 CD5 (Class A4)
	1,000,000	i	CD Mortgage Trust		3.684		08/15/50		997,272
			Series - 2017 CD5 (Class AS)
	1,750,000		CD Mortgage Trust		4.279		08/15/51		1,837,313
			Series - 2018 CD7 (Class A4)
	1,053,000		Citigroup Commercial Mortgage Trust		3.422		04/10/46		1,055,429
			Series - 2013 GC11 (Class AS)
	755,000		Citigroup Commercial Mortgage Trust		4.023		03/10/47		763,159
			Series - 2014 GC19 (Class A4)
	440,887		Citigroup Commercial Mortgage Trust		3.622		07/10/47		442,391
			Series - 2014 GC23 (Class A4)
	500,000		Citigroup Commercial Mortgage Trust		3.635		10/10/47		501,607
			Series - 2014 GC25 (Class A4)
	1,000,000		Citigroup Commercial Mortgage Trust		3.137		02/10/48		993,327
			Series - 2015 GC27 (Class A5)
	1,000,000		Citigroup Commercial Mortgage Trust		3.571		02/10/48		991,103
			Series - 2015 GC27 (Class AS)
	1,000,000		Citigroup Commercial Mortgage Trust		3.616		02/10/49		1,004,142
			Series - 2016 GC36 (Class A5)
	2,000,000		Citigroup Commercial Mortgage Trust		3.314		04/10/49		1,985,249
			Series - 2016 GC37 (Class A4)
	500,000		Citigroup Commercial Mortgage Trust		3.576		04/10/49		488,363
			Series - 2016 GC37 (Class AS)
	1,500,000		Citigroup Commercial Mortgage Trust		2.832		08/10/49		1,441,689
			Series - 2016 C2 (Class A4)
	1,000,000		Citigroup Commercial Mortgage Trust		3.465		09/15/50		1,005,571
			Series - 2017 P8 (Class A4)
	1,480,000		Citigroup Commercial Mortgage Trust		3.778		09/10/58		1,498,706
			Series - 2015 GC33 (Class A4)
	301,345		COMM Mortgage Trust		2.941		01/10/46		301,786
			Series - 2013 LC6 (Class A4)
	320,069		COMM Mortgage Trust		3.213		03/10/46		320,911
			Series - 2013 CR7 (Class A4)
	1,000,000		COMM Mortgage Trust		4.046		10/10/46		1,011,374
			Series - 2013 CR12 (Class A4)
	2,750,000		COMM Mortgage Trust		3.955		02/10/47		2,779,129
			Series - 2014 CR14 (Class A3)
	500,000		COMM Mortgage Trust		3.961		03/10/47		505,717
			Series - 2014 UBS2 (Class A5)
	1,000,000		COMM Mortgage Trust		4.051		04/10/47		1,013,497
			Series - 2014 CR16 (Class A4)
	1,000,000		COMM Mortgage Trust		3.819		06/10/47		1,009,935
			Series - 2014 UBS3 (Class A4)
	1,000,000		COMM Mortgage Trust		3.694		08/10/47		1,003,241
			Series - 2014 UBS4 (Class A5)
	836,281		COMM Mortgage Trust		3.326		11/10/47		832,017
			Series - 2014 CR20 (Class A3)

150

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	1,000,000		COMM Mortgage Trust		3.590	%	11/10/47	$	1,004,025
			Series - 2014 CR20 (Class A4)
	1,000,000	i	COMM Mortgage Trust		4.339		12/10/47		993,735
			Series - 2014 CR21 (Class B)
	3,150,000		COMM Mortgage Trust		3.183		02/10/48		3,139,898
			Series - 2015 LC19 (Class A4)
	1,000,000	i	COMM Mortgage Trust		4.231		02/10/48		988,407
			Series - 2015 LC19 (Class C)
	1,700,000		COMM Mortgage Trust		3.708		07/10/48		1,715,184
			Series - 2015 LC21 (Class A4)
	900,272		COMM Mortgage Trust		3.432		08/10/48		889,508
			Series - 2015 CR24 (Class A4)
	1,000,000		COMM Mortgage Trust		3.759		08/10/48		1,012,861
			Series - 2015 CR25 (Class A4)
	856,534		COMM Mortgage Trust		3.221		10/10/48		851,645
			Series - 2015 LC23 (Class A2)
	1,500,000		COMM Mortgage Trust		3.774		10/10/48		1,515,263
			Series - 2015 LC23 (Class A4)
	500,000		COMM Mortgage Trust		4.258		08/10/50		508,712
			Series - 2013 CR11 (Class A4)
	5,000,000		COMM Mortgage Trust		2.827		08/15/57		4,909,819
			Series - 2019 GC44 (Class A2)
	3,000,000		COMM Mortgage Trust		3.263		08/15/57		2,910,994
			Series - 2019 GC44 (Class AM)
	650,000	i	CSAIL Commercial Mortgage Trust		4.921		01/15/49		636,297
			Series - 2016 C6 (Class C)
	2,000,000	i	CSAIL Commercial Mortgage Trust		4.224		08/15/51		2,070,759
			Series - 2018 CX12 (Class A4)
	10,000,000		CSAIL Commercial Mortgage Trust		4.053		03/15/52		10,313,428
			Series - 2019 C15 (Class A4)
	2,000,000		DBGS Mortgage Trust		4.358		10/15/51		2,033,362
			Series - 2018 C1 (Class A2)
	5,790,000		DBGS Mortgage Trust		4.466		10/15/51		6,132,450
			Series - 2018 C1 (Class A4)
	3,500,000		DBJPM		3.276		05/10/49		3,489,236
			Series - 2016 C1 (Class A4)
	1,000,000		DBJPM		3.539		05/10/49		990,780
			Series - 2016 C1 (Class AM)
	1,590,000		DBJPM		3.328		06/10/50		1,589,009
			Series - 2017 C6 (Class A5)
	5,000,000		DBJPM		1.900		08/15/53		4,784,778
			Series - 2020 C9 (Class A2)
	1,500,000		Freddie Mac Multifamily Structured Pass Through Certificates		1.199		12/25/27		1,359,006
			Series - 2021 K741 (Class AM)
	8,440,000		Freddie Mac Multifamily Structured Pass Through Certificates		1.603		12/25/27		7,895,473
			Series - 2021 K741 (Class A2)
	2,951,296		Freddie Mac Multifamily Structured Pass Through Certificates		1.712		07/25/28		2,769,338
			Series - 2021 K744 (Class A2)
	922,321		Freddie Mac Multifamily Structured Pass Through Certificates		1.229		03/25/30		857,898
			Series - 2021 K128 (Class A1)
	980,945		Freddie Mac Multifamily Structured Pass Through Certificates		1.101		08/25/30		900,702
			Series - 2021 K125 (Class A1)
	1,985,631		Freddie Mac Multifamily Structured Pass Through Certificates		1.353		11/25/30		1,839,215
			Series - 2021 K127 (Class A1)

151

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	1,000,000		Freddie Mac Multifamily Structured Pass Through Certificates		1.792	%	01/25/31	$	912,358
			Series - 2021 K126 (Class AM)
	9,000,000		Freddie Mac Multifamily Structured Pass Through Certificates		1.846		01/25/31		8,306,564
			Series - 2021 K125 (Class A2)
	3,000,000		Freddie Mac Multifamily Structured Pass Through Certificates		2.108		01/25/31		2,826,742
			Series - 2021 K127 (Class A2)
	1,332,000		Freddie Mac Multifamily Structured Pass Through Certificates		1.851		02/25/31		1,219,739
			Series - 2021 K127 (Class AM)
	1,000,000		Freddie Mac Multifamily Structured Pass Through Certificates		1.749		03/25/31		906,990
			Series - 2021 K128 (Class AM)
	2,000,000		Freddie Mac Multifamily Structured Pass Through Certificates		2.020		03/25/31		1,870,787
			Series - 2021 K128 (Class A2)
	1,000,000		Freddie Mac Multifamily Structured Pass Through Certificates		1.647		05/25/31		896,961
			Series - 2021 K129 (Class AM)
	1,892,103		Freddie Mac Multifamily Structured Pass Through Certificates		2.007		07/25/35		1,776,774
			Series - 2021 1520 (Class A1)
	2,000,000		Freddie Mac Multifamily Structured Pass Through Certificates		2.438		02/25/36		1,822,201
			Series - 2021 1520 (Class A2)
	2,000,000		Freddie Mac Multifamily Structured Pass Through Certificates		2.184		08/25/36		1,758,343
			Series - 2021 1521 (Class A2)
	300,000		GS Mortgage Securities Corp II		2.943		02/10/46		300,321
			Series - 2013 GC10 (Class A5)
	300,000		GS Mortgage Securities Corp II		3.279		02/10/46		300,550
			Series - 2013 GC10 (Class AS)
	800,000		GS Mortgage Securities Corp II		3.382		05/10/50		795,129
			Series - 2015 GC30 (Class A4)
	139,224		GS Mortgage Securities Trust		4.740		05/10/45		139,109
			Series - 2012 GCJ7 (Class B)
	500,000		GS Mortgage Securities Trust		3.135		06/10/46		502,057
			Series - 2013 GC12 (Class A4)
	197,946		GS Mortgage Securities Trust		3.813		11/10/46		200,150
			Series - 2013 GC16 (Class AAB)
	1,000,000		GS Mortgage Securities Trust		4.074		01/10/47		1,012,682
			Series - 2014 GC18 (Class A4)
	1,500,000		GS Mortgage Securities Trust		3.964		11/10/47		1,506,134
			Series - 2014 GC26 (Class AS)
	1,841,317		GS Mortgage Securities Trust		3.136		02/10/48		1,822,163
			Series - 2015 GC28 (Class A4)
	1,423,318		GS Mortgage Securities Trust		3.178		11/10/49		1,395,225
			Series - 2016 GS4 (Class A3)
	1,350,000	i	GS Mortgage Securities Trust		3.958		11/10/49		1,250,446
			Series - 2016 GS4 (Class C)
	1,000,000		GS Mortgage Securities Trust		2.945		08/10/50		1,002,113
			Series - 2017 GS7 (Class A2)
	1,500,000		GS Mortgage Securities Trust		3.430		08/10/50		1,507,953
			Series - 2017 GS7 (Class A4)
	1,000,000		GS Mortgage Securities Trust		3.872		02/10/52		1,010,274
			Series - 2019 GC38 (Class A2)
	2,500,000		GS Mortgage Securities Trust		3.968		02/10/52		2,571,825
			Series - 2019 GC38 (Class A4)
	500,000	i	GS Mortgage Securities Trust		4.309		02/10/52		502,459
			Series - 2019 GC38 (Class B)
	2,500,000		GS Mortgage Securities Trust		2.898		02/13/53		2,451,498
			Series - 2020 GC45 (Class A2)

152

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	4,000,000	i	GS Mortgage Securities Trust		3.173	%	02/13/53	$	3,927,987
			Series - 2020 GC45 (Class AS)
	2,000,000	i	GS Mortgage Securities Trust		3.405		02/13/53		1,909,459
			Series - 2020 GC45 (Class B)
	2,000,000		GS Mortgage Securities Trust		2.125		05/12/53		1,799,328
			Series - 2020 GC47 (Class A4)
	4,000,000		GS Mortgage Securities Trust		2.377		05/12/53		3,710,596
			Series - 2020 GC47 (Class A5)
	1,000,000		GS Mortgage Securities Trust		1.662		12/12/53		919,612
			Series - 2020 GSA2 (Class AAB)
	3,000,000		GS Mortgage Securities Trust		1.721		12/12/53		2,648,180
			Series - 2020 GSA2 (Class A4)
	2,000,000		GS Mortgage Securities Trust		2.012		12/12/53		1,782,849
			Series - 2020 GSA2 (Class A5)
	1,000,000		GS Mortgage Securities Trust		2.224		12/12/53		886,128
			Series - 2020 GSA2 (Class AS)
	300,000	i	JP Morgan Chase Commercial Mortgage Securities Corp		5.270		05/15/45		286,860
			Series - 2012 C6 (Class D)
	33,728		JP Morgan Chase Commercial Mortgage Securities Corp		3.483		06/15/45		33,748
			Series - 2012 CBX (Class A4)
	410,544	i	JP Morgan Chase Commercial Mortgage Securities Corp		3.994		01/15/46		414,686
			Series - 2013 C13 (Class A4)
	1,500,000		JP Morgan Chase Commercial Mortgage Securities Corp		2.960		04/15/46		1,498,810
			Series - 2013 LC11 (Class A5)
	500,000		JP Morgan Chase Commercial Mortgage Securities Corp		4.166		12/15/46		506,399
			Series - 2013 C16 (Class A4)
	78,489		JP Morgan Chase Commercial Mortgage Securities Corp		2.702		12/15/47		78,652
			Series - 2013 C10 (Class ASB)
	186,996		JP Morgan Chase Commercial Mortgage Securities Corp		2.840		12/15/47		187,333
			Series - 2012 LC9 (Class A5)
	491,190		JP Morgan Chase Commercial Mortgage Securities Corp		3.143		12/15/47		492,227
			Series - 2013 C10 (Class A5)
	574,000		JP Morgan Chase Commercial Mortgage Securities Corp		3.372		12/15/47		577,181
			Series - 2013 C10 (Class AS)
	1,000,000		JP Morgan Chase Commercial Mortgage Securities Corp		2.822		08/15/49		977,214
			Series - 2016 JP2 (Class A4)
	1,400,000		JP Morgan Chase Commercial Mortgage Securities Corp		3.109		07/15/50		1,392,610
			Series - 2017 JP6 (Class A3)
	698,388		JP Morgan Chase Commercial Mortgage Securities Corp		3.038		09/15/50		699,733
			Series - 2017 JP7 (Class A2)
	2,500,000		JP Morgan Chase Commercial Mortgage Securities Corp		3.454		09/15/50		2,510,492
			Series - 2017 JP7 (Class A5)
	2,150,000		JP Morgan Chase Commercial Mortgage Securities Corp		3.219		06/13/52		2,153,922
			Series - 2019 COR5 (Class ASB)
	2,000,000		JPMBB Commercial Mortgage Securities Trust		3.801		09/15/47		2,019,669
			Series - 2014 C22 (Class A4)
	1,875,000	i	JPMBB Commercial Mortgage Securities Trust		4.118		05/15/48		1,813,034
			Series - 2015 C29 (Class B)
	2,700,000		JPMBB Commercial Mortgage Securities Trust		3.227		10/15/48		2,681,740
			Series - 2015 C28 (Class A4)
	1,100,000		JPMBB Commercial Mortgage Securities Trust		3.532		10/15/48		1,076,833
			Series - 2015 C28 (Class AS)
	2,000,000		JPMBB Commercial Mortgage Securities Trust		3.770		12/15/48		2,016,739
			Series - 2015 C33 (Class A4)

153

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	1,000,000		JPMBB Commercial Mortgage Securities Trust		3.576	%	03/17/49	$	1,007,539
			Series - 2016 C1 (Class A5)
	500,000		JPMBB Commercial Mortgage Securities Trust		3.970		03/17/49		504,597
			Series - 2016 C1 (Class AS)
	500,000	i	JPMBB Commercial Mortgage Securities Trust		4.733		03/17/49		506,001
			Series - 2016 C1 (Class B)
	1,000,000	i	JPMDB Commercial Mortgage Securities Trust		3.990		06/15/49		947,306
			Series - 2016 C2 (Class B)
	5,922,824		JPMDB Commercial Mortgage Securities Trust		3.141		12/15/49		5,879,907
			Series - 2016 C4 (Class A3)
	5,000,000		JPMDB Commercial Mortgage Securities Trust		2.946		11/13/52		4,933,110
			Series - 2019 COR6 (Class A2)
	60,000		Morgan Stanley Bank of America Merrill Lynch Trust		2.918		02/15/46		59,989
			Series - 2013 C7 (Class A4)
	485,066		Morgan Stanley Bank of America Merrill Lynch Trust		2.834		05/15/46		482,977
			Series - 2013 C9 (Class A3)
	1,250,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.102		05/15/46		1,248,595
			Series - 2013 C9 (Class A4)
	500,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.456		05/15/46		500,647
			Series - 2013 C9 (Class AS)
	240,000	i	Morgan Stanley Bank of America Merrill Lynch Trust		3.708		05/15/46		239,453
			Series - 2013 C9 (Class B)
	53,232		Morgan Stanley Bank of America Merrill Lynch Trust		3.824		10/15/46		53,695
			Series - 2013 C12 (Class ASB)
	455,235		Morgan Stanley Bank of America Merrill Lynch Trust		3.654		04/15/47		459,888
			Series - 2014 C15 (Class ASB)
	2,000,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.892		06/15/47		2,018,613
			Series - 2014 C16 (Class A5)
	3,500,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.249		02/15/48		3,484,705
			Series - 2015 C20 (Class A4)
	1,000,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.306		04/15/48		993,160
			Series - 2015 C22 (Class A4)
	1,000,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.732		05/15/48		1,007,618
			Series - 2015 C24 (Class A4)
	3,000,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.134		12/15/48		3,006,625
			Series - 2013 C8 (Class A4)
	2,000,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.599		05/15/50		2,013,641
			Series - 2017 C33 (Class A5)
	535,000		Morgan Stanley Capital I Trust		3.594		03/15/49		539,149
			Series - 2016 UBS9 (Class A4)
	557,543		Morgan Stanley Capital I Trust		3.997		07/15/51		563,593
			Series - 2018 H3 (Class A2)
	1,000,000	i	Morgan Stanley Capital I Trust		4.864		07/15/51		1,021,213
			Series - 2018 H3 (Class C)
	1,500,000	i	Morgan Stanley Capital I Trust		4.238		10/15/51		1,556,731
			Series - 2018 L1 (Class ASB)
	2,000,000		Morgan Stanley Capital I Trust		4.288		10/15/51		2,027,235
			Series - 2018 L1 (Class A2)
	1,500,000	i	Morgan Stanley Capital I Trust		4.407		10/15/51		1,570,639
			Series - 2018 L1 (Class A4)
	1,000,000		Morgan Stanley Capital I Trust		4.071		03/15/52		1,029,578
			Series - 2019 L2 (Class A4)
	5,000,000		Morgan Stanley Capital I Trust		3.224		06/15/52		5,007,679
			Series - 2019 H6 (Class ASB)

154

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	750,000		Morgan Stanley Capital I Trust		3.417	%	06/15/52	$	742,722
			Series - 2019 H6 (Class A4)
	5,000,000		Morgan Stanley Capital I Trust		1.790		07/15/53		4,446,035
			Series - 2020 HR8 (Class A3)
	2,000,000		Morgan Stanley Capital I Trust		2.438		05/15/54		1,864,219
			Series - 2021 L5 (Class A3)
	1,000,000		Morgan Stanley Capital I Trust		2.951		05/15/54		957,215
			Series - 2021 L5 (Class AS)
	1,500,000		UBS Barclays Commercial Mortgage Trust		3.185		03/10/46		1,503,873
			Series - 2013 C5 (Class A4)
	500,000		UBS Barclays Commercial Mortgage Trust		3.244		04/10/46		501,663
			Series - 2013 C6 (Class A4)
	626,136		UBS Barclays Commercial Mortgage Trust		3.525		05/10/63		625,397
			Series - 2012 C2 (Class A4)
	38,117		UBS Commercial Mortgage Trust		4.822		05/10/45		38,091
			Series - 2012 C1 (Class B)
	972,542		UBS Commercial Mortgage Trust		2.998		08/15/50		974,387
			Series - 2017 C3 (Class A2)
	1,500,000		UBS Commercial Mortgage Trust		3.426		08/15/50		1,489,558
			Series - 2017 C3 (Class A4)
	1,000,000	i	UBS Commercial Mortgage Trust		3.739		08/15/50		984,383
			Series - 2017 C3 (Class AS)
	647,204		UBS Commercial Mortgage Trust		3.147		10/15/50		648,964
			Series - 2017 C4 (Class A2)
	4,934,166		UBS Commercial Mortgage Trust		3.713		02/15/51		4,960,608
			Series - 2018 C8 (Class A2)
	11,000,000		UBS Commercial Mortgage Trust		4.313		05/15/51		11,496,476
			Series - 2018 C10 (Class A4)
	2,000,000		UBS Commercial Mortgage Trust		4.296		08/15/51		2,086,777
			Series - 2018 C12 (Class A5)
	2,400,000	i	UBS Commercial Mortgage Trust		5.267		12/15/51		2,209,101
			Series - 2018 C14 (Class C)
	875,000	i	Wells Fargo Commercial Mortgage Trust		3.872		05/15/48		876,456
			Series - 2015 C28 (Class AS)
	2,000,000		Wells Fargo Commercial Mortgage Trust		3.695		11/15/48		2,017,466
			Series - 2015 C31 (Class A4)
	480,000	i	Wells Fargo Commercial Mortgage Trust		4.224		12/15/48		476,345
			Series - 2015 NXS4 (Class B)
	2,000,000		Wells Fargo Commercial Mortgage Trust		2.652		08/15/49		1,940,873
			Series - 2016 BNK1 (Class A3)
	500,000		Wells Fargo Commercial Mortgage Trust		2.967		08/15/49		463,722
			Series - 2016 BNK1 (Class B)
	1,000,000		Wells Fargo Commercial Mortgage Trust		3.377		11/15/49		982,142
			Series - 2016 NXS6 (Class AS)
	2,000,000		Wells Fargo Commercial Mortgage Trust		4.152		08/15/51		2,079,780
			Series - 2018 C46 (Class A4)
	2,700,000		Wells Fargo Commercial Mortgage Trust		3.760		03/15/52		2,725,074
			Series - 2019 C49 (Class A4)
	2,000,000		Wells Fargo Commercial Mortgage Trust		3.635		05/15/52		2,018,841
			Series - 2019 C50 (Class ASB)
	3,250,000		Wells Fargo Commercial Mortgage Trust		4.192		05/15/52		3,248,693
			Series - 2019 C50 (Class B)
	10,000,000		Wells Fargo Commercial Mortgage Trust		3.040		10/15/52		9,758,588
			Series - 2019 C53 (Class A4)

155

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	2,500,000		Wells Fargo Commercial Mortgage Trust		1.810	%	07/15/53	$	2,232,485
			Series - 2020 C58 (Class A3)
	1,500,000		Wells Fargo Commercial Mortgage Trust		2.092		07/15/53		1,354,868
			Series - 2020 C58 (Class A4)
	500,000		Wells Fargo Commercial Mortgage Trust		2.398		07/15/53		456,140
			Series - 2020 C58 (Class AS)
	10,000,000		Wells Fargo Commercial Mortgage Trust		1.864		08/15/53		8,969,199
			Series - 2020 C57 (Class A3)
	1,893,000		Wells Fargo Commercial Mortgage Trust		2.626		04/15/54		1,782,012
			Series - 2021 C59 (Class A5)
	117,000		Wells Fargo Commercial Mortgage Trust		3.896		03/15/59		112,618
			Series - 2016 C33 (Class C)
	250,364		WF-RBS Commercial Mortgage Trust		3.001		08/15/45		250,329
			Series - 2012 C8 (Class A3)
	775,000		WF-RBS Commercial Mortgage Trust		3.241		12/15/45		772,670
			Series - 2012 C10 (Class AS)
	600,000		WF-RBS Commercial Mortgage Trust		3.337		06/15/46		601,988
			Series - 2013 C14 (Class A5)
	500,000	i	WF-RBS Commercial Mortgage Trust		4.646		03/15/47		488,628
			Series - 2014 C19 (Class C)
	1,000,000	i	WF-RBS Commercial Mortgage Trust		4.723		03/15/47		996,525
			Series - 2014 C19 (Class B)
	349,331		WF-RBS Commercial Mortgage Trust		3.198		03/15/48		350,112
			Series - 2013 C12 (Class A4)
			TOTAL OTHER MORTGAGE BACKED						400,047,272
			TOTAL STRUCTURED ASSETS						517,870,130
			(Cost $542,277,609)
			TOTAL BONDS						21,020,678,993
			(Cost $21,907,453,858)
SHORT-TERM INVESTMENTS - 1.9%
GOVERNMENT AGENCY DEBT - 0.8%
	5,000,000		Federal Agricultural Mortgage Corp (FAMC)		0.000		05/03/22		4,999,111
	20,000,000		Federal Farm Credit Bank (FFCB)		0.000		04/27/22		19,997,546
	16,425,000		FFCB		0.000		04/29/22		16,422,830
	25,000,000		Federal Home Loan Bank (FHLB)		0.000		04/01/22		25,000,000
	12,300,000		FHLB		0.000		04/06/22		12,299,710
	25,000,000		FHLB		0.000		04/21/22		24,997,641
	10,000,000		FHLB		0.000		05/04/22		9,996,159
	10,000,000		FHLB		0.000		05/18/22		9,994,530
	20,000,000		FHLB		0.000		05/24/22		19,987,663
	15,000,000		FHLB		0.000		05/27/22		14,990,247
			TOTAL GOVERNMENT AGENCY DEBT						158,685,437
REPURCHASE AGREEMENT - 0.5%
	113,060,000	r	Fixed Income Clearing Corp (FICC)		0.250		04/01/22		113,060,000
			TOTAL REPURCHASE AGREEMENT						113,060,000

156

TIAA-CREF FUNDS - Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
TREASURY DEBT - 0.3%
$	10,000,000		United States Cash Management Bill		0.000	%	04/19/22	$	9,999,306
	20,000,000		United States Treasury Bill		0.000		05/12/22		19,995,638
	10,000,000		United States Treasury Bill		0.000		06/23/22		9,989,250
	25,000,000		United States Treasury Note		1.750		05/15/22		25,044,291
			TOTAL TREASURY DEBT						65,028,485
SHARES			COMPANY
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 0.3%
	64,739,600	c	State Street Navigator Securities Lending Government Money Market Portfolio		0.290				64,739,600
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES						64,739,600
			TOTAL SHORT-TERM INVESTMENTS						401,513,522
			(Cost $401,525,461)
			TOTAL INVESTMENTS - 101.4%						21,422,192,515
			(Cost $22,308,979,319)
			OTHER ASSETS & LIABILITIES, NET - (1.4)%						(295,025,651	)
			NET ASSETS - 100.0%					$	21,127,166,864

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 $66,483,156.
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 3/31/22, the aggregate value of these securities is $159,296,131 or 0.8% 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.
r	Agreement with Fixed Income Clearing Corp (FICC), 0.250% dated 3/31/22 to be repurchased at $113,060,000 on 4/1/22, collateralized by Government Agency Securities, with coupon rate 0.125% and maturity date 1/15/32, valued at $115,321,219.

157

TIAA-CREF FUNDS - Core Bond Fund

TIAA-CREF FUNDS
CORE BOND FUND
SCHEDULE OF INVESTMENTS
March 31, 2022

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
BANK LOAN OBLIGATIONS - 1.8%
AUTOMOBILES & COMPONENTS - 0.0%
$	847,326	i	Clarios Global LP	LIBOR 1M + 3.250%		3.707	%	04/30/26	$	835,675
	800,545	i	Gates Global LLC	LIBOR 1M + 2.500%		3.250		03/31/27		788,137
			TOTAL AUTOMOBILES & COMPONENTS							1,623,812
BANKS - 0.0%
	275,000	i	Amentum Government Services Holdings LLC	SOFR 3M + 4.000%		4.500		02/15/29		271,906
			TOTAL BANKS							271,906
CAPITAL GOODS - 0.1%
	701,491	i	Avolon TLB Borrower US LLC	LIBOR 1M + 1.750%		2.500		01/15/25		688,780
	906,504	i	Avolon TLB Borrower US LLC	LIBOR 1M + 1.500%		2.250		02/12/27		883,461
	2,855,000	h,i	Clydesdale Acquisition Holdings, Inc	LIBOR 1 M + 4.250%		4.750		03/30/29		2,807,407
	840,631	i	Cornerstone Building Brands, Inc	LIBOR 1M + 3.250%		3.750		04/12/28		811,907
	379,482	i	Prometric Holdings Inc	LIBOR 1M + 3.000%		4.000		01/29/25		371,892
	886,364	i	SRAM LLC	LIBOR 3M + 2.750%		3.258		05/18/28		874,912
	1,444,146	i	TransDigm, Inc	LIBOR 1M + 2.250%		2.707		08/22/24		1,421,588
	473,006	i	TransDigm, Inc	LIBOR 1M + 2.250%		2.707		12/09/25		464,728
	579,174	i	Univar Solutions USA, Inc	LIBOR 1M + 1.750%		2.207		05/26/28		573,926
			TOTAL CAPITAL GOODS							8,898,601
COMMERCIAL & PROFESSIONAL SERVICES - 0.2%
	1,350,505	i	Clean Harbors, Inc	LIBOR 1M + 1.750%		2.207		06/28/24		1,341,389
	661,563	i	Dun & Bradstreet Corp	LIBOR 1M + 3.250%		3.697		02/06/26		654,590
	1,377,228	i	GFL Environmental, Inc			3.500		05/31/25		1,370,342
	1,686,939	i	Intrado Corp	LIBOR 3M + 4.000%		5.000		10/10/24		1,536,464
	253,222	i	KAR Auction Services, Inc	LIBOR 1M + 2.250%		2.750		09/19/26		250,689
	2,400,000	i	Maxar Technologies Ltd	LIBOR 1M + 2.750%		2.870		10/04/24		2,359,704
	1,421,714	i	Peraton Corp	LIBOR 1M + 3.750%		4.500		02/01/28		1,409,715
	2,602,317	i	Prime Security Services Borrower LLC	LIBOR 3M + 2.750%		3.500		09/23/26		2,580,640
	1,462,217	i	Sedgwick Claims Management Services, Inc	LIBOR 1M + 3.250%		3.707		12/31/25		1,445,767
	1,831,163	i	Spin Holdco, Inc	LIBOR 3M + 4.000%		4.750		03/04/28		1,814,884
	2,310,087	i	Trans Union LLC	LIBOR 1M + 2.250%		2.750		12/01/28		2,289,873
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES							17,054,057
CONSUMER DURABLES & APPAREL - 0.0%
	997,500	i	Conair Holdings LLC	LIBOR 3M + 3.750%		4.756		05/17/28		980,044
	1,481,306	i	Great Outdoors Group LLC	LIBOR 1M + 3.750%		4.500		03/06/28		1,473,899
	1,061,246	i	Samsonite IP Holdings Sarl	LIBOR 1M + 1.750%		2.207		04/25/25		1,033,388
			TOTAL CONSUMER DURABLES & APPAREL							3,487,331
CONSUMER SERVICES - 0.2%
	1,325,342	i	1011778 BC ULC	LIBOR 1M + 1.750%		2.207		11/19/26		1,295,243
	1,361,250	i	AlixPartners LLP	LIBOR 1M + 2.750%		3.250		02/04/28		1,338,490

158

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	354,600	i	Caesars Resort Collection LLC	LIBOR 1M + 3.500%		3.957	%	07/21/25	$	353,004
	1,192,013	i	Carnival Corp	LIBOR 3M + 3.250%		4.000		10/18/28		1,163,702
	663,338	i	CCC Intelligent Solutions, Inc	LIBOR 3M + 2.250%		3.256		09/21/28		656,041
	989,637	i	ClubCorp Holdings, Inc	LIBOR 3M + 2.750%		3.756		09/18/24		937,068
	1,977,429	i	Golden Nugget LLC	LIBOR 1 M + 4.000%		4.500		01/27/29		1,965,071
	2,673,000	i	IRB Holding Corp	SOFR 3M + 3.000%		3.750		12/15/27		2,655,171
	384,646	i	KFC Holding Co	LIBOR 1M + 1.750%		2.218		03/09/28		380,718
	322,255	i	KUEHG Corp	LIBOR 3M + 3.750%		4.756		02/21/25		316,918
	643,824	i	Life Time, Inc	LIBOR 3M + 4.750%		5.750		12/10/24		639,800
	1,875,369	i	Scientific Games International, Inc	LIBOR 1M + 2.750%		3.207		08/14/24		1,867,173
	2,252,293	i	Sophia LP	LIBOR 1 M + 3.750%		4.256		10/07/27		2,227,427
	1,375,000	h,i	Stars Group Holdings BV	LIBOR 3 M + 3.500%		3.256		07/21/26		1,362,680
	1,702,422	i	Sterling Midco Holdings, Inc	LIBOR 3M + 3.500%		4.500		06/19/24		1,696,753
			TOTAL CONSUMER SERVICES							18,855,259
DIVERSIFIED FINANCIALS - 0.0%
	606,796	i	Lions Gate Capital Holdings LLC	LIBOR 1M + 2.250%		2.707		03/24/25		597,318
	1,364,688	i	Reynolds Group Holdings, Inc	LIBOR 1M + 3.250%		3.707		02/05/26		1,327,445
			TOTAL DIVERSIFIED FINANCIALS							1,924,763
ENERGY - 0.0%
	1,396,633	i	Buckeye Partners LP	LIBOR 1M + 2.250%		2.707		11/01/26		1,385,069
	593,125	i	ChampionX Holding, Inc	LIBOR 3M + 5.000%		6.000		06/03/27		594,116
	1,903,069	i	Delek US Holdings, Inc	LIBOR 1M + 2.250%		2.707		03/31/25		1,848,699
	482,575	i	DT Midstream, Inc	LIBOR 1M + 2.000%		2.500		06/26/28		481,301
			TOTAL ENERGY							4,309,185
FOOD & STAPLES RETAILING - 0.0%
	1,100,000	i	US Foods, Inc	LIBOR 3M + 2.750%		3.258		11/22/28		1,085,788
			TOTAL FOOD & STAPLES RETAILING							1,085,788
FOOD, BEVERAGE & TOBACCO - 0.1%
	1,379,000	i	Chobani LLC	LIBOR 1M + 3.500%		4.500		10/20/27		1,353,144
	147,375	i	Froneri US, Inc	LIBOR 1M + 2.250%		2.707		01/29/27		144,507
	1,885,750	i	Hayward Industries, Inc	LIBOR 1M + 2.500%		3.000		05/28/28		1,860,613
	1,514,110	i	Hearthside Food Solutions LLC	LIBOR 1M + 3.688%		4.145		05/23/25		1,456,150
	979,950	i	Hostess Brands LLC	LIBOR 1M + 2.250%		3.000		08/01/25		966,123
	2,017,753	i	Triton Water Holdings, Inc	LIBOR 3M + 3.500%		4.506		03/31/28		1,964,786
			TOTAL FOOD, BEVERAGE & TOBACCO							7,745,323
HEALTH CARE EQUIPMENT & SERVICES - 0.2%
	1,485,000	i	ADMI Corp	LIBOR 1M + 3.375%		3.875		12/23/27		1,457,394
	948,321	i	Change Healthcare Holdings LLC	LIBOR 1M + 2.500%		3.500		03/01/24		941,919
	2,290,495	i	Da Vinci Purchaser Corp	LIBOR 3M + 4.000%		5.006		01/08/27		2,278,081
	1,218,820	i	DaVita, Inc	LIBOR 1M + 1.750%		2.207		08/12/26		1,208,046
	1,215,813	i	Global Medical Response, Inc	LIBOR 1 M + 4.250%		5.250		10/25/25		1,205,551
	628,509	i	Grifols Worldwide Operations USA, Inc	LIBOR 1M + 2.000%		2.457		11/15/27		617,196
	601,594	i	NMN Holdings III Corp	LIBOR 1M + 3.750%		4.207		11/13/25		582,042
	129,078	i	NMN Holdings III Corp	Prime 3M + 2.750%		6.250		11/13/25		124,883

159

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	1,910,563	i	Onex TSG Intermediate Corp	LIBOR 1M + 4.750%		5.500	%	02/28/28	$	1,891,457
	992,500	i	Phoenix Guarantor, Inc	LIBOR 1M + 3.500%		3.947		03/05/26		980,719
	3,009,493	i	RegionalCare Hospital Partners Holdings, Inc	LIBOR 1M + 3.750%		4.197		11/16/25		2,988,487
	1,946,734	i	Select Medical Corp	LIBOR 1M + 2.250%		2.710		03/06/25		1,921,192
	3,173,120	i	Surgery Center Holdings, Inc	LIBOR 1M + 3.750%		4.500		09/03/26		3,144,975
			TOTAL HEALTH CARE EQUIPMENT & SERVICES							19,341,942
HOUSEHOLD & PERSONAL PRODUCTS - 0.0%
	668,250	i	Energizer Holdings, Inc	LIBOR 1M + 2.250%		2.750		12/16/27		656,556
	1,996,144	i	Weber-Stephen Products LLC	LIBOR 1M + 3.250%		4.000		10/29/27		1,930,271
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS							2,586,827
INSURANCE - 0.1%
	1,351,420	i	Acrisure LLC	LIBOR 1M + 3.500%		3.957		02/15/27		1,330,027
	616,900	i	Alliant Holdings Intermediate LLC	LIBOR 1M + 3.500%		4.000		11/05/27		612,187
	1,917,727	i	Asurion LLC	LIBOR 1 M + 3.000%		3.209		11/03/24		1,891,013
	825,189	i	Asurion LLC	LIBOR 1M + 3.250%		3.707		12/23/26		806,275
	1,470,121	i	HUB International Ltd	LIBOR 3M + 3.250%		4.000		04/25/25		1,459,433
	1,967,795	i	NFP Corp	LIBOR 1M + 3.250%		3.707		02/15/27		1,929,679
	1,953,964	i	USI, Inc	LIBOR 3M + 3.000%		4.006		05/16/24		1,939,270
			TOTAL INSURANCE							9,967,884
MATERIALS - 0.1%
	1,280,500	i	Asplundh Tree Expert LLC	LIBOR 1M + 1.750%		2.207		09/07/27		1,264,673
	1,213,900	i	Eco Services Operations Corp	LIBOR 3M + 2.500%		3.000		06/09/28		1,196,699
	710,362	i	H.B. Fuller Co	LIBOR 1M + 2.000%		2.449		10/21/24		706,924
	769,188	i	Kloeckner Pentaplast of America, Inc	LIBOR 3M + 4.750%		5.554		02/12/26		698,522
	392,338	i	Messer Industries USA, Inc	LIBOR 3M + 2.500%		2.724		03/01/26		386,398
	146,513	i	Quikrete Holdings, Inc	LIBOR 1M + 2.625%		3.082		02/01/27		142,729
	300,576	i	Reynolds Consumer Products LLC	LIBOR 1M + 1.750%		2.207		02/04/27		295,208
	1,443,768	i	Tamko Building Products, Inc	LIBOR 3M + 3.000%		3.299		05/29/26		1,411,283
	869,593	i	Tronox Finance LLC	LIBOR 3M + 2.250%		3.256		03/10/28		856,010
	144,638	i	WR Grace Holdings LLC	LIBOR 3M + 3.750%		4.813		09/22/28		143,191
			TOTAL MATERIALS							7,101,637
MEDIA & ENTERTAINMENT - 0.3%
	930,321	i	Alliance Laundry Systems LLC	LIBOR 3M + 3.500%		4.250		10/08/27		920,441
	1,979,328	i	Altice Financing S.A.	LIBOR 3M + 2.750%		2.989		02/02/26		1,903,995
	610,364	i	Arches Buyer, Inc	LIBOR 1M + 3.250%		3.750		12/06/27		599,353
	1,209,688	i	Arterra Wines Canada, Inc	LIBOR 3M + 3.500%		4.506		11/19/27		1,195,474
	296,250	i	Banijay Group US Holding, Inc	LIBOR 1M + 3.750%		3.991		03/03/25		293,287
	197,500	i	Cablevision Lightpath LLC	LIBOR 1M + 3.250%		3.750		11/30/27		194,735
	148,137	i	Cirque Du Soleil Holding USA Newco, Inc	LIBOR 3M + 6.000%		7.000		11/24/25		147,793
	141,113	i	Cirque Du Soleil Holding USA Newco, Inc	LIBOR 3 M + 1.000%		2.000		11/24/27		139,878
	595,500	i	CNT Holdings I Corp	LIBOR 3M + 3.500%		4.250		11/08/27		591,653
	1,840,000	i	Coral-US Co-Borrower LLC	LIBOR 1M + 3.000%		3.397		10/15/29		1,820,073
	1,100,000	i	Delta 2 Lux Sarl	LIBOR 1M + 2.500%		3.500		02/01/24		1,093,818
	288,049	i	Diamond Sports Group LLC	SOFR 1M + 8.000%		9.000		05/25/26		291,690
	1,466,250	†,i	Diamond Sports Group LLC	LIBOR 1 M + 3.250%		3.545		08/24/26		502,806
	935,900	i	DIRECTV Financing LLC	LIBOR 1M + 5.000%		5.750		08/02/27		933,832

160

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	1,892,352	i	INEOS US Petrochem LLC	LIBOR 1M + 2.750%		3.250	%	01/29/26	$	1,856,397
	2,400,000	i	Mozart Borrower LP	LIBOR 1M + 3.250%		3.750		10/23/28		2,374,800
	231,080	i	Nielsen Finance LLC	LIBOR 1M + 2.000%		2.306		10/04/23		230,720
	1,063,241	i	Organon & Co	LIBOR 3M + 3.000%		3.563		06/02/28		1,056,596
	421,811	i	Park River Holdings, Inc	LIBOR 3M + 3.250%		4.000		12/28/27		411,945
	1,100,000	i	Phoenix Newco, Inc	LIBOR 1M + 3.500%		4.000		11/15/28		1,090,969
	1,221,938	i	Radiate Holdco LLC	LIBOR 1 M + 3.250%		4.000		09/25/26		1,210,182
	1,865,328	i	Ryan Specialty Group LLC	LIBOR 1M + 3.000%		3.750		09/01/27		1,849,790
	275,000	i	SkyMiles IP Ltd	LIBOR 3M + 3.750%		4.750		10/20/27		283,550
	1,762,707	i	TK Elevator US Newco, Inc	LIBOR 6M + 3.500%		4.019		07/30/27		1,743,988
	1,082,575	i	TricorBraun Holdings, Inc	LIBOR 1M + 3.250%		3.750		03/03/28		1,053,854
	630,778	i	Univision Communications, Inc	LIBOR 1M + 3.250%		4.000		03/15/26		626,312
	950,000	i	Virgin Media Bristol LLC	LIBOR 1M + 2.500%		2.897		01/31/28		937,090
	262,703	i	Wand NewCo 3, Inc	LIBOR 1M + 3.000%		3.457		02/05/26		254,331
	1,389,500	i	Woof Holdings, Inc	LIBOR 3M + 3.750%		4.678		12/21/27		1,377,342
			TOTAL MEDIA & ENTERTAINMENT							26,986,694
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.1%
	618,766	i	Avantor, Inc	LIBOR 1M + 2.250%		2.750		11/08/27		613,129
	1,655,471	i	Bausch Health Americas, Inc	LIBOR 1M + 3.000%		3.457		06/02/25		1,640,291
	1,077,121	i	Bausch Health Americas, Inc	LIBOR 1M + 2.750%		3.207		11/27/25		1,066,350
	1,969,962	i	Catalent Pharma Solutions, Inc	LIBOR 1M + 2.000%		2.500		02/22/28		1,965,037
	2,660,229	i	Endo Luxembourg Finance Co I Sarl	LIBOR 1M + 5.000%		5.750		03/27/28		2,485,930
	1,277,545	i	Horizon Therapeutics USA, Inc	LIBOR 1M + 2.000%		2.500		05/22/26		1,262,534
	992,500	i	Jazz Financing Lux Sarl	LIBOR 1M + 3.500%		4.000		05/05/28		987,914
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES							10,021,185
REAL ESTATE - 0.0%
	1,688,078	i	Cushman & Wakefield plc	LIBOR 1M + 2.750%		3.207		08/21/25		1,662,757
			TOTAL REAL ESTATE							1,662,757
RETAILING - 0.0%
	1,097,250	i	Chariot Buyer LLC	LIBOR 3M + 3.500%		4.506		11/03/28		1,082,624
	613,500	h,i	LS GROUP OPCO ACQUISITIO	LIBOR 3M + 3.250%		4.000		11/02/27		607,365
	1,588,000	i	Resideo Funding, Inc	LIBOR 3M + 2.250%		2.750		02/09/28		1,562,195
	965,170	i	Staples, Inc	LIBOR 3M + 5.000%		5.317		04/16/26		910,174
			TOTAL RETAILING							4,162,358
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.0%
	1,023,000	h,i	Bright Bidco BV	LIBOR 3M + 3.500%		4.774		06/30/24		609,749
	1,100,000	h,i	MKS Instruments, Inc	LIBOR 1 M + 2.250%		2.750		10/20/28		1,089,341
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT							1,699,090
SOFTWARE & SERVICES - 0.1%
	500,000	i	Avaya Holdings Corp	LIBOR 1M + 4.250%		4.647		12/15/27		495,875
	785,693	i	Camelot Finance S.A.	LIBOR 1M + 3.000%		3.457		10/30/26		776,202
	987,500	i	Camelot US Acquisition	LIBOR 1M + 3.000%		4.000		10/31/26		977,013
	1,575,510	i	Hyland Software, Inc	LIBOR 1M + 3.500%		4.250		07/01/24		1,565,411
	1,750,000	i	Informatica LLC	LIBOR 1M + 2.750%		3.250		10/27/28		1,729,875

161

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	65,643	i	IQVIA, Inc	LIBOR 1M + 1.750%		2.207	%	03/07/24	$	65,003
	2,942,625	i	Magenta Buyer LLC	LIBOR 3M + 5.000%		5.750		07/27/28		2,915,406
	2,640,000	h,i	NortonLifeLock, Inc	SOFR + 2.000%		2.500		01/28/29		2,604,809
	1,385,983	i	Rackspace Technology Global, Inc	LIBOR 3M + 2.750%		3.500		02/03/28		1,357,764
	472,625	i	RealPage, Inc	LIBOR 1M + 3.250%		3.750		04/24/28		466,670
	687	i	Rocket Software, Inc	LIBOR 1M + 4.250%		4.707		11/28/25		676
	1,006,536	h,i	SS&C Technologies, Inc			2.250		03/22/29		996,259
	743,464	h,i	SS&C Technologies, Inc	LIBOR 1 M + 2.250%		2.750		03/22/29		735,873
			TOTAL SOFTWARE & SERVICES							14,686,836
TECHNOLOGY HARDWARE & EQUIPMENT - 0.0%
	496,250	i	Ingram Micro, Inc	LIBOR 3M + 3.500%		4.506		06/30/28		491,412
	818,923	i	Plantronics, Inc	LIBOR 1M + 2.500%		2.957		07/02/25		811,503
	755,472	i	TTM Technologies, Inc	LIBOR 1M + 2.500%		2.731		09/28/24		748,861
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT							2,051,776
TELECOMMUNICATION SERVICES - 0.1%
	1,846,638	i	CommScope, Inc	LIBOR 1M + 3.250%		3.707		04/06/26		1,795,080
	833,368	i	MLN US Holdco LLC	LIBOR 1M + 4.500%		4.742		11/28/25		799,774
	1,979,328	i	SFR Group S.A.	LIBOR 3M + 3.688%		3.927		01/31/26		1,931,705
	623,553	i	Zayo Group Holdings, Inc	LIBOR 1M + 3.000%		3.457		03/09/27		606,249
			TOTAL TELECOMMUNICATION SERVICES							5,132,808
TRANSPORTATION - 0.1%
	250,000	i	Air Canada	LIBOR 3M + 3.500%		4.250		08/11/28		247,395
	1,439,394	i	American Airlines, Inc	LIBOR 3M + 2.000%		2.840		12/14/23		1,420,005
	750,000	i	American Airlines, Inc	LIBOR 3M + 4.750%		5.500		04/20/28		758,670
	312,374	i	Avis Budget Car Rental LLC	LIBOR 1M + 1.750%		2.210		08/06/27		305,346
	378,100	i	CHG Healthcare Services, Inc	LIBOR 3M + 3.500%		5.000		09/29/28		374,202
	997,500	i	Gulf Finance LLC	LIBOR 1M + 6.750%		7.750		08/25/26		909,151
	550,000	i	Mileage Plus Holdings LLC	LIBOR 3M + 5.250%		6.250		06/18/27		569,938
	2,000,000	i	XPO Logistics, Inc	LIBOR 1M + 1.750%		1.992		02/24/25		1,979,580
			TOTAL TRANSPORTATION							6,564,287
UTILITIES - 0.1%
	1,577,246	i	AssuredPartners, Inc	LIBOR 1M + 3.500%		4.000		02/12/27		1,556,553
	921,223	i	Calpine Corp	LIBOR 1M + 2.500%		2.960		12/16/27		912,591
	665,174	h,i	Covanta Holding Corp	LIBOR 1 M + 2.500%		3.000		11/30/28		661,157
	49,826	h,i	Covanta Holding Corp	LIBOR 1 M + 2.500%		3.000		11/30/28		49,525
	1,979,630	i	First Eagle Holdings, Inc	LIBOR 3M + 2.500%		3.506		02/02/27		1,942,195
	1,949,472	i	Gopher Resource LLC	LIBOR 1M + 3.250%		4.250		03/06/25		1,761,836
	723,827	i	Seattle SpinCo, Inc	LIBOR 1M + 2.750%		3.207		06/21/24		712,969
	582,477	i	Seattle SpinCo, Inc	SOFR 1M + 4.000%		4.500		02/26/27		575,196
	2,123,128	i	Utz Quality Foods LLC	LIBOR 1M + 3.000%		3.457		01/20/28		2,089,965
	899,897	i	Vistra Operations Co LLC	LIBOR 1M + 1.750%		2.191		12/31/25		889,863
			TOTAL UTILITIES							11,151,850
			TOTAL BANK LOAN OBLIGATIONS							188,373,956
			(Cost $191,788,484)

162

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
BONDS - 95.5%
CORPORATE BONDS - 38.1%
AUTOMOBILES & COMPONENTS - 0.4%
$	4,500,000	g	Adient Global Holdings Ltd		4.875	%	08/15/26	$	4,282,695
	225,000		Dana, Inc		5.375		11/15/27		223,594
	225,000		Dana, Inc		5.625		06/15/28		227,362
	325,000		Dana, Inc		4.250		09/01/30		297,440
	1,755,000		Ford Motor Co		3.250		02/12/32		1,567,443
	4,900,000	g	Gates Global LLC		6.250		01/15/26		4,904,581
	5,550,000		General Motors Co		6.125		10/01/25		5,958,044
	1,400,000		General Motors Co		5.000		10/01/28		1,459,873
	1,700,000		General Motors Co		6.600		04/01/36		1,974,206
	10,050,000		General Motors Co		5.200		04/01/45		10,172,373
	475,000		General Motors Co		6.750		04/01/46		572,068
	2,200,000		Genuine Parts Co		2.750		02/01/32		2,018,867
	2,000,000	g	Goodyear Tire & Rubber Co		5.000		07/15/29		1,863,120
	5,000,000	e	Goodyear Tire & Rubber Co		5.250		04/30/31		4,681,325
	3,000,000	g	Hyundai Capital Services, Inc		2.125		04/24/25		2,875,722
	1,000,000	g,o	IHO Verwaltungs GmbH		6.375		05/15/29		985,000
	1,750,000		Magna International, Inc		3.625		06/15/24		1,768,717
			TOTAL AUTOMOBILES & COMPONENTS						45,832,430
BANKS - 9.1%
	2,000,000	g	Akbank T.A.S.		6.800		02/06/26		1,941,757
	1,500,000	g	Akbank TAS		6.800		06/22/31		1,407,132
	2,995,000	g	Australia & New Zealand Banking Group Ltd		2.950		07/22/30		2,883,684
	10,000,000	g	Australia & New Zealand Banking Group Ltd		6.750		N/A‡		10,745,000
	3,000,000	e	Banco Bilbao Vizcaya Argentaria S.A.		6.500		N/A‡		3,011,250
	2,500,000	g	Banco de Bogota S.A.		4.375		08/03/27		2,396,900
	2,100,000	g	Banco de Credito del Peru		2.700		01/11/25		2,044,140
	2,150,000	g	Banco de Credito del Peru		3.125		07/01/30		2,023,150
	4,150,000	g	Banco de Credito e Inversiones S.A.		2.875		10/14/31		3,830,699
	2,855,000	g	Banco do Brasil S.A.		3.250		09/30/26		2,747,966
	1,725,000	g	Banco Industrial S.A.		4.875		01/29/31		1,677,390
	2,000,000	g	Banco Internacional del Peru SAA Interbank		3.375		01/18/23		2,006,000
	3,300,000	g	Banco Internacional del Peru SAA Interbank		4.000		07/08/30		3,168,000
	1,725,000	g	Banco Nacional de Comercio Exterior SNC		2.720		08/11/31		1,636,611
	2,800,000	g	Banco Santander Mexico S.A. Institucion de Banca Multiple Grupo Financiero Santand		5.375		04/17/25		2,921,898
	3,400,000		Banco Santander S.A.		1.722		09/14/27		3,070,886
	4,200,000		Banco Santander S.A.		3.800		02/23/28		4,133,007
	2,000,000		Banco Santander S.A.		7.500		N/A‡		2,075,000
	7,400,000		Banco Santander S.A.		4.750		N/A‡		6,822,800
	3,700,000		Bancolombia S.A.		3.000		01/29/25		3,598,990
	1,825,000		Bancolombia S.A.		4.625		12/18/29		1,756,562
	2,600,000	g	Bangkok Bank PCL		3.466		09/23/36		2,343,178
	3,000,000	g	Bangkok Bank PCL		5.000		N/A‡		2,958,750
	2,500,000	g	Banistmo S.A.		4.250		07/31/27		2,431,275
	4,000,000	g	Bank Hapoalim BM		3.255		01/21/32		3,680,000
	8,000,000	g	Bank Leumi Le-Israel BM		3.275		01/29/31		7,400,000

163

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	32,525,000		Bank of America Corp		0.810	%	10/24/24	$	31,468,380
	10,000,000		Bank of America Corp		4.000		01/22/25		10,183,098
	1,000,000		Bank of America Corp		4.450		03/03/26		1,034,188
	23,880,000		Bank of America Corp		2.592		04/29/31		22,030,888
	15,000,000		Bank of America Corp		1.898		07/23/31		13,099,066
	56,165,000		Bank of America Corp		1.922		10/24/31		48,789,288
	5,000,000		Bank of America Corp		2.687		04/22/32		4,598,184
	9,300,000		Bank of America Corp		2.572		10/20/32		8,450,571
	23,300,000		Bank of America Corp		2.972		02/04/33		21,831,932
	7,200,000		Bank of America Corp		3.846		03/08/37		6,894,875
	8,925,000		Bank of America Corp		2.676		06/19/41		7,535,897
	5,000,000		Bank of America Corp		4.375		N/A‡		4,699,000
	6,632,000		Bank of America Corp		6.300		N/A‡		7,052,800
	12,900,000		Bank of America Corp		6.100		N/A‡		13,455,409
	5,000,000		Bank of America Corp		6.250		N/A‡		5,168,500
	7,000,000		Barclays plc		3.932		05/07/25		7,056,948
	600,000		Barclays plc		2.279		11/24/27		557,028
	4,700,000		Barclays plc		3.330		11/24/42		4,087,957
	2,525,000		Barclays plc		4.375		N/A‡		2,223,894
	5,000,000		Barclays plc		6.125		N/A‡		5,106,250
	2,700,000		Barclays plc		7.750		N/A‡		2,798,644
	5,550,000	g	BNP Paribas S.A.		2.819		11/19/25		5,418,794
	5,895,000	g	BNP Paribas S.A.		1.904		09/30/28		5,276,562
	2,800,000	g	BNP Paribas S.A.		2.588		08/12/35		2,430,733
	2,000,000	g	BNP Paribas S.A.		6.625		N/A‡		2,066,000
	12,906,000	g	BNP Paribas S.A.		7.375		N/A‡		13,906,215
	3,500,000	g	CIMB Bank Bhd		2.125		07/20/27		3,309,366
	5,750,000		Citigroup, Inc		3.875		03/26/25		5,825,529
	4,025,000		Citigroup, Inc		3.200		10/21/26		3,993,263
	2,200,000		Citigroup, Inc		4.300		11/20/26		2,262,434
	5,975,000		Citigroup, Inc		4.450		09/29/27		6,162,832
	2,975,000		Citigroup, Inc		4.125		07/25/28		3,020,022
	13,895,000		Citigroup, Inc		2.666		01/29/31		12,873,598
	20,000,000		Citigroup, Inc		2.572		06/03/31		18,322,143
	29,425,000		Citigroup, Inc		2.520		11/03/32		26,398,784
	3,000,000		Citigroup, Inc		5.950		N/A‡		3,057,900
	4,000,000		Citigroup, Inc		6.300		N/A‡		4,016,000
	4,900,000		Citigroup, Inc		6.250		N/A‡		5,116,580
	5,000,000		Citigroup, Inc		5.000		N/A‡		4,950,000
	6,315,000	g	Cooperatieve Rabobank UA		1.339		06/24/26		5,893,993
	4,175,000		Cooperatieve Rabobank UA		3.750		07/21/26		4,149,704
	3,050,000	g	Credicorp Ltd		2.750		06/17/25		2,936,440
	12,000,000	g	Credit Agricole S.A.		8.125		N/A‡		13,325,395
	1,525,000	g	DBS Group Holdings Ltd		4.520		12/11/28		1,555,805
	3,150,000	g	Development Bank of Kazakhstan JSC		2.950		05/06/31		2,573,146
	4,200,000		Discover Bank		2.450		09/12/24		4,126,142
	5,400,000		Discover Bank		3.450		07/27/26		5,368,642
	2,275,000		Discover Bank		2.700		02/06/30		2,082,298
	850,000	g	Grupo Aval Ltd		4.750		09/26/22		855,474
	1,675,000	g	Grupo Aval Ltd		4.375		02/04/30		1,450,516
	2,160,000	e,g	Hana Bank		3.500		N/A‡		2,056,652

164

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	4,535,000		HSBC Holdings plc			1.645	%	04/18/26	$	4,267,256
	625,000		HSBC Holdings plc			3.900		05/25/26		630,980
	11,915,000		HSBC Holdings plc			4.292		09/12/26		12,068,541
	750,000		HSBC Holdings plc			4.375		11/23/26		763,649
	14,500,000		HSBC Holdings plc			2.251		11/22/27		13,510,183
	1,850,000		HSBC Holdings plc			2.013		09/22/28		1,677,470
	3,850,000		HSBC Holdings plc			3.973		05/22/30		3,851,558
	2,430,000		HSBC Holdings plc			2.848		06/04/31		2,245,881
	590,000		HSBC Holdings plc			6.800		06/01/38		736,639
	5,000,000		HSBC Holdings plc			6.375		N/A‡		5,173,350
	18,250,000		HSBC Holdings plc			6.000		N/A‡		18,569,375
	360,000		Huntington Bancshares, Inc			4.000		05/15/25		366,710
	2,875,000	g	ICICI Bank Ltd			3.800		12/14/27		2,826,378
	8,225,000	g	ING Groep NV			1.400		07/01/26		7,609,210
	400,000		ING Groep NV			3.950		03/29/27		404,940
	5,000,000		ING Groep NV			3.875		N/A‡		4,350,000
	3,000,000	g	Intercorp Financial Services, Inc			4.125		10/19/27		2,820,000
	8,150,000		JPMorgan Chase & Co			2.301		10/15/25		7,982,001
	1,075,000		JPMorgan Chase & Co			2.005		03/13/26		1,036,372
	2,500,000		JPMorgan Chase & Co			3.200		06/15/26		2,513,443
	13,000,000		JPMorgan Chase & Co			4.203		07/23/29		13,444,170
	19,405,000		JPMorgan Chase & Co			3.702		05/06/30		19,507,777
	2,150,000		JPMorgan Chase & Co			2.956		05/13/31		2,011,748
	40,560,000		JPMorgan Chase & Co			1.953		02/04/32		35,530,663
	20,500,000		JPMorgan Chase & Co			2.963		01/25/33		19,326,443
	17,600,000		JPMorgan Chase & Co			3.157		04/22/42		15,955,600
	700,000		JPMorgan Chase & Co			4.260		02/22/48		748,078
	9,380,000		JPMorgan Chase & Co			3.650		N/A‡		8,770,300
	2,500,000	i	JPMorgan Chase & Co	LIBOR 3 M + 3.320%		4.287		N/A‡		2,490,625
	6,535,000		JPMorgan Chase & Co			5.000		N/A‡		6,513,271
	16,000,000		JPMorgan Chase & Co			6.100		N/A‡		16,400,000
	5,000,000		Lloyds Banking Group plc			7.500		N/A‡		5,249,850
	8,100,000		Lloyds Banking Group plc			6.750		N/A‡		8,507,268
	10,800,000		Lloyds Banking Group plc			7.500		N/A‡		11,479,481
	7,150,000		M&T Bank Corp			3.500		N/A‡		6,425,919
	7,200,000		Mitsubishi UFJ Financial Group, Inc			2.193		02/25/25		6,960,919
	2,070,000		Mitsubishi UFJ Financial Group, Inc			1.412		07/17/25		1,939,273
	3,000,000	g	Mizrahi Tefahot Bank Ltd			3.077		04/07/31		2,782,500
	5,170,000		Natwest Group plc			3.032		11/28/35		4,586,737
	3,000,000		Natwest Group plc			8.000		N/A‡		3,258,900
	8,000,000	g	NBK SPC Ltd			1.625		09/15/27		7,340,024
	3,000,000	g	NBK Tier Financing Ltd			3.625		N/A‡		2,811,559
	5,470,000	g	Nordea Bank Abp			6.625		N/A‡		5,714,509
	2,335,000	g	Oversea-Chinese Banking Corp Ltd			1.832		09/10/30		2,197,749
	4,720,000		PNC Bank NA			2.700		10/22/29		4,531,809
	1,500,000		PNC Financial Services Group, Inc			3.900		04/29/24		1,534,504
	8,955,000		PNC Financial Services Group, Inc			3.400		N/A‡		8,063,978
	2,500,000	i	PNC Financial Services Group, Inc	LIBOR 3 M + 3.678%		3.804		N/A‡		2,487,454
	5,100,000		Royal Bank of Canada			2.550		07/16/24		5,076,907
	6,146,000		Royal Bank of Scotland Group plc			3.498		05/15/23		6,154,545
	3,250,000		Royal Bank of Scotland Group plc			3.073		05/22/28		3,119,617
	6,500,000		Sumitomo Mitsui Financial Group, Inc			2.696		07/16/24		6,437,038
	1,300,000		Toronto-Dominion Bank			3.625		09/15/31		1,304,872

165

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	570,000		Truist Bank		2.450	%	08/01/22	$	571,563
	5,000,000		Truist Bank		3.689		08/02/24		5,065,133
	1,960,000		Truist Bank		2.250		03/11/30		1,796,531
	1,960,000		Truist Financial Corp		1.200		08/05/25		1,845,411
	7,000,000		Truist Financial Corp		4.950		N/A‡		7,168,000
	9,800,000		Truist Financial Corp		4.800		N/A‡		9,628,500
	4,500,000		Truist Financial Corp		5.100		N/A‡		4,563,000
	1,500,000	g	Turkiye Garanti Bankasi AS.		6.125		05/24/27		1,481,409
	3,000,000	g	Turkiye Vakiflar Bankasi TAO		6.500		01/08/26		2,859,256
	1,550,000	g	Turkiye Vakiflar Bankasi TAO		5.500		10/01/26		1,406,676
	3,500,000	g	UBS Group AG.		3.179		02/11/43		3,109,915
	4,000,000	g	UBS Group AG.		3.875		N/A‡		3,683,800
	2,000,000		UniCredit SpA		8.000		N/A‡		2,085,000
	3,000,000	g	United Overseas Bank Ltd		1.250		04/14/26		2,800,497
	1,400,000	g	United Overseas Bank Ltd		3.750		04/15/29		1,406,833
	3,700,000	g	United Overseas Bank Ltd		2.000		10/14/31		3,432,668
	3,650,000		Wells Fargo & Co		3.750		01/24/24		3,716,664
	3,425,000		Wells Fargo & Co		3.550		09/29/25		3,469,330
	9,300,000		Wells Fargo & Co		3.526		03/24/28		9,281,323
	10,475,000		Wells Fargo & Co		2.393		06/02/28		9,905,161
	9,500,000		Wells Fargo & Co		5.875		N/A‡		9,925,600
	8,000,000		Wells Fargo & Co		5.900		N/A‡		8,060,000
	18,600,000		Wells Fargo & Co		3.900		N/A‡		17,829,030
	3,020,000		Westpac Banking Corp		2.668		11/15/35		2,637,330
			TOTAL BANKS						947,412,437
CAPITAL GOODS - 1.3%
	1,000,000	e,g	Adaro Indonesia PT		4.250		10/31/24		985,500
	1,354,000		Air Lease Corp		3.000		02/01/30		1,247,105
	3,140,000		Air Lease Corp		3.125		12/01/30		2,902,993
	2,430,000	g	Airbus SE		3.150		04/10/27		2,412,632
	650,000	g	BAE Systems plc		1.900		02/15/31		564,361
	2,000,000	g	BOC Aviation Ltd		3.000		09/11/29		1,871,428
	17,400,000		Boeing Co		2.196		02/04/26		16,450,247
	1,350,000		Boeing Co		3.250		02/01/28		1,300,446
	6,900,000		Boeing Co		2.950		02/01/30		6,393,272
	3,700,000		Boeing Co		3.625		02/01/31		3,601,378
	1,825,000		Boeing Co		3.250		02/01/35		1,629,541
	17,427,000		Boeing Co		5.805		05/01/50		20,123,602
	3,075,000	g	H&E Equipment Services, Inc		3.875		12/15/28		2,882,812
	500,000		Ingersoll-Rand Global Holding Co Ltd		3.750		08/21/28		500,039
	3,750,000		Ingersoll-Rand Luxembourg Finance S.A.		3.800		03/21/29		3,811,588
	7,145,000		John Deere Capital Corp		2.000		06/17/31		6,561,963
	1,100,000		L3Harris Technologies, Inc		3.850		06/15/23		1,115,409
	850,000	e	Lockheed Martin Corp		1.850		06/15/30		770,930
	5,775,000		Northrop Grumman Corp		3.250		01/15/28		5,775,262
	7,150,000		Parker-Hannifin Corp		3.250		06/14/29		7,058,509
	248,000		Raytheon Technologies Corp		3.650		08/16/23		251,211
	10,675,000		Raytheon Technologies Corp		4.125		11/16/28		11,158,605
	5,000,000		Raytheon Technologies Corp		4.500		06/01/42		5,513,473
	325,000	g	Rolls-Royce plc		5.750		10/15/27		333,580
	3,100,000		Roper Technologies, Inc		1.400		09/15/27		2,809,267

166

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	1,800,000		Roper Technologies, Inc		2.950	%	09/15/29	$	1,735,013
	13,155,000		Roper Technologies, Inc		2.000		06/30/30		11,678,435
	3,000,000	g	TSMC Global Ltd		0.750		09/28/25		2,778,222
	2,000,000	g	TSMC Global Ltd		1.000		09/28/27		1,757,119
	3,000,000	g	TSMC Global Ltd		1.750		04/23/28		2,731,286
	1,150,000	e,g	Tupy Overseas S.A.		4.500		02/16/31		1,012,012
	425,000	g	WESCO Distribution, Inc		7.250		06/15/28		451,407
			TOTAL CAPITAL GOODS						130,168,647
COMMERCIAL & PROFESSIONAL SERVICES - 0.3%
	1,655,000	g	ADT Corp		4.875		07/15/32		1,522,600
	1,000,000		AECOM		5.125		03/15/27		1,022,730
	1,395,000	g	Albion Financing SARL		6.125		10/15/26		1,346,175
	5,000,000	g	Allied Universal Holdco LLC		6.625		07/15/26		5,059,150
	325,000	g	ASGN, Inc		4.625		05/15/28		316,729
	925,000	g	Booz Allen Hamilton, Inc		3.875		09/01/28		892,893
	370,000	g	Booz Allen Hamilton, Inc		4.000		07/01/29		361,283
	150,000	g	GFL Environmental, Inc		4.250		06/01/25		149,055
	1,000,000	g	GFL Environmental, Inc		3.750		08/01/25		981,700
	125,000	g	GFL Environmental, Inc		5.125		12/15/26		126,062
	3,150,000	g	GFL Environmental, Inc		3.500		09/01/28		2,957,362
	4,000,000	g	Pitney Bowes, Inc		6.875		03/15/27		3,783,280
	2,500,000	e,g	Pitney Bowes, Inc		7.250		03/15/29		2,358,175
	2,125,000	g	Prime Security Services Borrower LLC		5.750		04/15/26		2,167,872
	1,300,000	g	Prime Security Services Borrower LLC		3.375		08/31/27		1,189,357
	2,655,000	g	Prime Security Services Borrower LLC		6.250		01/15/28		2,598,170
	2,225,000		Republic Services, Inc		2.900		07/01/26		2,208,147
	100,000	g	Ritchie Bros Auctioneers, Inc		5.375		01/15/25		101,000
	420,000		Verisk Analytics, Inc		3.625		05/15/50		395,249
	1,325,000	g	WASH Multifamily Acquisition, Inc		5.750		04/15/26		1,328,312
	1,800,000		Waste Management, Inc		2.900		09/15/22		1,804,428
	1,235,000		Waste Management, Inc		1.500		03/15/31		1,062,872
	1,500,000		Waste Management, Inc		2.500		11/15/50		1,208,762
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES						34,941,363
CONSUMER DURABLES & APPAREL - 0.2%
	750,000		Leggett & Platt, Inc		4.400		03/15/29		779,147
	5,000,000		Lennar Corp		5.000		06/15/27		5,239,778
	5,000,000		Lennar Corp		4.750		11/29/27		5,208,647
	219,000		Newell Brands, Inc		4.875		06/01/25		226,059
	5,000,000	e	PulteGroup, Inc		5.000		01/15/27		5,267,962
			TOTAL CONSUMER DURABLES & APPAREL						16,721,593
CONSUMER SERVICES - 0.5%
	16,500,000		Anheuser-Busch Cos LLC		3.650		02/01/26		16,863,202
	5,000,000		Anheuser-Busch Cos LLC		4.700		02/01/36		5,362,578
	8,910,000		Anheuser-Busch Cos LLC		4.900		02/01/46		9,909,211
	1,100,000	g	Cedar Fair LP		5.500		05/01/25		1,129,606
	2,300,000	g	ENA Master Trust		4.000		05/19/48		2,159,125
	125,000	g	Hilton Domestic Operating Co, Inc		5.750		05/01/28		129,325
	2,200,000	g	Hilton Domestic Operating Co, Inc		3.625		02/15/32		1,996,500
	8,800,000		Hyatt Hotels Corp		1.300		10/01/23		8,575,504

167

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	400,000	g	International Game Technology plc		4.125	%	04/15/26	$	395,000
	540,000	g	International Game Technology plc		6.250		01/15/27		568,863
	425,000	g	Marriott Ownership Resorts, Inc		4.500		06/15/29		400,562
	2,335,000	g	Sands China Ltd		2.550		03/08/27		2,027,948
	1,400,000		Sands China Ltd		5.400		08/08/28		1,372,308
	1,175,000	g	Wynn Macau Ltd		5.625		08/26/28		1,020,793
			TOTAL CONSUMER SERVICES						51,910,525
DIVERSIFIED FINANCIALS - 4.2%
	4,900,000		AerCap Ireland Capital DAC		3.500		01/15/25		4,814,076
	9,050,000		AerCap Ireland Capital DAC		1.750		01/30/26		8,302,918
	7,325,000		AerCap Ireland Capital DAC		2.450		10/29/26		6,775,276
	4,100,000		AerCap Ireland Capital DAC		3.650		07/21/27		3,972,568
	5,000,000		AerCap Ireland Capital DAC		3.875		01/23/28		4,873,299
	1,350,000		AerCap Ireland Capital DAC		3.000		10/29/28		1,244,953
	2,050,000		AerCap Ireland Capital DAC		3.300		01/30/32		1,847,992
	1,250,000		AerCap Ireland Capital DAC		3.850		10/29/41		1,096,177
	8,650,000		Ally Financial, Inc		4.700		N/A‡		8,142,332
	710,000		American Express Co		2.650		12/02/22		714,339
	1,250,000		American Express Co		3.700		08/03/23		1,272,993
	2,000,000	g	American Express Co		3.300		05/03/27		2,009,555
	8,975,000		American Express Co		3.550		N/A‡		8,178,918
	3,000,000	g	B3 S.A.-Brasil Bolsa Balcao		4.125		09/20/31		2,702,550
	4,300,000	g	Banco BTG Pactual S.A.		2.750		01/11/26		3,966,793
	12,705,000		Bank of New York Mellon Corp		4.700		N/A‡		13,009,920
	455,000	g	BBVA Bancomer S.A.		5.350		11/12/29		453,867
	3,350,000	g	BBVA Bancomer S.A.		5.125		01/18/33		3,161,596
	7,868,000		Capital One Bank USA NA		3.375		02/15/23		7,927,206
	2,490,000		Capital One Financial Corp		3.750		03/09/27		2,509,609
	6,640,000	e	Capital One Financial Corp		3.950		N/A‡		6,175,864
	10,800,000		Charles Schwab Corp		5.375		N/A‡		11,124,000
	8,325,000	g	Credit Suisse Group AG.		2.193		06/05/26		7,817,854
	4,950,000	g	Credit Suisse Group AG.		1.305		02/02/27		4,442,768
	3,950,000		Credit Suisse Group Funding Guernsey Ltd		3.800		06/09/23		3,986,217
	1,650,000		Credit Suisse Group Funding Guernsey Ltd		3.750		03/26/25		1,643,895
	4,000,000		Danske Bank A.S.		4.375		N/A‡		3,747,584
	3,750,000		Deutsche Bank AG.		2.311		11/16/27		3,436,562
	3,600,000		Deutsche Bank AG.		3.035		05/28/32		3,235,122
	4,000,000		Deutsche Bank AG.		4.789		N/A‡		3,721,248
	11,650,000		Deutsche Bank AG.		6.000		N/A‡		11,358,750
	545,000		Discover Financial Services		5.200		04/27/22		546,328
	2,075,000		Ford Motor Credit Co LLC		3.096		05/04/23		2,072,552
	5,000,000		Ford Motor Credit Co LLC		3.664		09/08/24		4,939,700
	1,400,000		Ford Motor Credit Co LLC		4.000		11/13/30		1,318,380
	2,000,000		Ford Motor Credit Co LLC		3.625		06/17/31		1,806,550
	23,343,000		GE Capital International Funding Co		4.418		11/15/35		25,065,445
	4,390,000		General Motors Financial Co, Inc		2.750		06/20/25		4,263,827
	8,625,000		General Motors Financial Co, Inc		5.650		01/17/29		9,326,364
	29,000,000		General Motors Financial Co, Inc		2.700		06/10/31		25,535,098
	5,450,000		General Motors Financial Co, Inc		5.700		N/A‡		5,709,965
	2,000,000		General Motors Financial Co, Inc		5.750		N/A‡		1,995,000
	11,270,000		Goldman Sachs Group, Inc		3.625		02/20/24		11,413,411

168

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	5,277,000		Goldman Sachs Group, Inc		3.500	%	04/01/25	$	5,316,356
	5,875,000		Goldman Sachs Group, Inc		1.093		12/09/26		5,379,372
	21,300,000		Goldman Sachs Group, Inc		2.640		02/24/28		20,365,501
	7,410,000		Goldman Sachs Group, Inc		1.992		01/27/32		6,419,135
	7,300,000		Goldman Sachs Group, Inc		2.615		04/22/32		6,634,684
	360,000		Goldman Sachs Group, Inc		6.750		10/01/37		453,651
	1,900,000		Goldman Sachs Group, Inc		4.017		10/31/38		1,919,984
	4,875,000		Goldman Sachs Group, Inc		3.210		04/22/42		4,412,091
	600,000		Goldman Sachs Group, Inc		4.800		07/08/44		665,231
	1,500,000		Goldman Sachs Group, Inc		4.125		N/A‡		1,406,625
	1,500,000		Goldman Sachs Group, Inc		3.800		N/A‡		1,390,313
	500,000		Icahn Enterprises LP		4.750		09/15/24		502,275
	925,000		Icahn Enterprises LP		5.250		05/15/27		907,818
	3,800,000		Icahn Enterprises LP		4.375		02/01/29		3,486,500
	1,100,000	g	Indian Railway Finance Corp Ltd		3.249		02/13/30		1,027,604
	7,400,000	g	Indian Railway Finance Corp Ltd		2.800		02/10/31		6,564,702
	2,488,000		International Lease Finance Corp		5.875		08/15/22		2,518,376
	800,000	g	LCM Investments Holdings II LLC		4.875		05/01/29		755,584
	475,000		Legg Mason, Inc		3.950		07/15/24		484,815
	3,425,000	g	LPL Holdings, Inc		4.000		03/15/29		3,250,252
	5,800,000	g	Macquarie Bank, London		6.125		N/A‡		5,779,700
	2,500,000	g	Minejesa Capital BV		5.625		08/10/37		2,276,575
	1,040,000		Morgan Stanley		4.000		07/23/25		1,064,478
	4,444,000		Morgan Stanley		2.188		04/28/26		4,292,764
	11,950,000		Morgan Stanley		3.125		07/27/26		11,846,877
	2,720,000		Morgan Stanley		0.985		12/10/26		2,494,547
	685,000		Morgan Stanley		3.950		04/23/27		696,064
	9,875,000		Morgan Stanley		1.512		07/20/27		9,077,135
	15,120,000		Morgan Stanley		2.699		01/22/31		14,188,100
	1,905,000		Morgan Stanley		1.794		02/13/32		1,638,159
	75,000		Morgan Stanley		1.928		04/28/32		64,825
	5,000,000		Navient Corp		5.000		03/15/27		4,762,500
	4,000,000		Northern Trust Corp		4.600		N/A‡		4,010,000
	1,345,000		OneMain Finance Corp		3.500		01/15/27		1,244,125
	5,000,000		OneMain Finance Corp		4.000		09/15/30		4,412,500
	2,975,000	g	Power Finance Corp Ltd		3.950		04/23/30		2,842,641
	1,625,000	g	REC Ltd		4.750		05/19/23		1,643,800
	2,070,000	g	Societe Generale S.A.		1.375		07/08/25		1,926,543
	3,500,000	g	Societe Generale S.A.		4.027		01/21/43		3,042,814
	4,000,000	g	Societe Generale S.A.		4.750		N/A‡		3,725,000
	550,000		Springleaf Finance Corp		5.375		11/15/29		534,364
	550,000		State Street Corp		3.300		12/16/24		555,453
	11,300,000	g	Swiss Re Finance Luxembourg SA		5.000		04/02/49		11,695,500
	2,850,000		Synchrony Financial		4.250		08/15/24		2,889,762
	1,975,000		Synchrony Financial		3.950		12/01/27		1,955,980
	11,500,000	g	UBS Group AG		7.000		N/A‡		11,998,065
	650,000		Voya Financial, Inc		5.700		07/15/43		767,602
	6,500,000		Voya Financial, Inc		5.650		05/15/53		6,532,630
			TOTAL DIVERSIFIED FINANCIALS						433,478,793
ENERGY - 3.6%
	1,075,000		AmeriGas Partners LP		5.875		08/20/26		1,071,711
	2,500,000	g	Antero Midstream Partners LP		5.750		01/15/28		2,553,125
	1,875,000	g	Archrock Partners LP		6.250		04/01/28		1,847,981

169

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	2,770,000		Canadian Natural Resources Ltd		2.950	%	07/15/30	$	2,633,875
	12,400,000		Cenovus Energy, Inc		4.250		04/15/27		12,795,167
	875,000	e	Cenovus Energy, Inc		2.650		01/15/32		792,469
	3,980,000		Cenovus Energy, Inc		5.400		06/15/47		4,481,262
	565,000		Chevron Corp		2.355		12/05/22		567,321
	2,000,000	g	Cosan Ltd		5.500		09/20/29		1,966,000
	3,750,000		Diamondback Energy, Inc		3.125		03/24/31		3,581,443
	2,625,000		Diamondback Energy, Inc		4.250		03/15/52		2,594,399
	1,790,000	g	DT Midstream, Inc		4.125		06/15/29		1,716,261
	1,490,000	g	DT Midstream, Inc		4.375		06/15/31		1,426,675
	5,000,000		Ecopetrol S.A.		5.375		06/26/26		5,059,700
	1,050,000		Ecopetrol S.A.		6.875		04/29/30		1,101,786
	2,275,000		Ecopetrol S.A.		4.625		11/02/31		2,058,875
	2,675,000	g	Empresa Nacional del Petroleo		3.450		09/16/31		2,452,975
	1,960,000		Enbridge, Inc		2.500		08/01/33		1,740,235
	10,350,000		Enbridge, Inc		5.750		07/15/80		10,712,250
	2,424,000	g	Energean Israel Finance Ltd		4.875		03/30/26		2,339,014
	2,440,000		Energy Transfer Operating LP		2.900		05/15/25		2,386,689
	2,675,000		Energy Transfer Operating LP		4.750		01/15/26		2,779,859
	1,670,000		Energy Transfer Operating LP		5.500		06/01/27		1,794,647
	8,000,000		Energy Transfer Operating LP		5.250		04/15/29		8,536,853
	1,235,000		Energy Transfer Operating LP		3.750		05/15/30		1,214,942
	4,100,000		Energy Transfer Operating LP		6.250		04/15/49		4,704,653
	4,625,000		Energy Transfer Operating LP		5.000		05/15/50		4,679,756
	500,000	g	EnLink Midstream LLC		5.625		01/15/28		510,000
	1,250,000		Enterprise Products Operating LLC		3.700		02/15/26		1,266,005
	3,707,000		Enterprise Products Operating LLC		3.125		07/31/29		3,640,141
	900,000		Enterprise Products Operating LLC		2.800		01/31/30		865,092
	1,425,000		Enterprise Products Operating LLC		4.250		02/15/48		1,430,696
	2,300,000		Enterprise Products Operating LLC		4.200		01/31/50		2,282,228
	7,350,000		Enterprise Products Operating LLC		3.700		01/31/51		6,725,213
	11,150,000		Enterprise Products Operating LLC		3.300		02/15/53		9,512,760
	750,000	g	EQM Midstream Partners LP		6.000		07/01/25		765,034
	1,900,000	g	EQM Midstream Partners LP		4.500		01/15/29		1,776,500
	850,000	g	EQT Corp		3.125		05/15/26		825,580
	3,025,000	g	Ferrellgas Escrow LLC		5.375		04/01/26		2,856,387
	3,225,000	g	Ferrellgas Escrow LLC		5.875		04/01/29		2,976,578
	3,202,680	g	Galaxy Pipeline Assets Bidco Ltd		2.160		03/31/34		2,943,588
	2,750,000	g	Galaxy Pipeline Assets Bidco Ltd		2.625		03/31/36		2,468,008
	1,100,000		Genesis Energy LP		6.500		10/01/25		1,084,930
	1,450,000	g	Hilcorp Energy I LP		5.750		02/01/29		1,450,870
	1,450,000	g	Hilcorp Energy I LP		6.000		02/01/31		1,453,625
	1,200,000	g	KazMunayGas National Co JSC		5.375		04/24/30		1,150,353
	3,500,000	g	KazMunayGas National Co JSC		3.500		04/14/33		2,905,000
	3,700,000		Kinder Morgan Energy Partners LP		5.800		03/15/35		4,218,397
	1,250,000		Kinder Morgan Energy Partners LP		5.400		09/01/44		1,345,585
	1,325,000	g	Kosmos Energy Ltd		7.750		05/01/27		1,301,813
	2,525,000	g	Leviathan Bond Ltd		6.125		06/30/25		2,562,202
	5,000,000		Marathon Petroleum Corp		4.700		05/01/25		5,195,867
	13,040,000		Marathon Petroleum Corp		3.800		04/01/28		13,121,118
	1,000,000		Marathon Petroleum Corp		4.750		09/15/44		1,016,806
	2,750,000		Marathon Petroleum Corp		5.000		09/15/54		2,804,099

170

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	5,000,000	g	MEG Energy Corp		5.875	%	02/01/29	$	5,068,750
	4,475,000		MPLX LP		1.750		03/01/26		4,193,206
	16,235,000		MPLX LP		2.650		08/15/30		14,876,465
	2,935,000		MPLX LP		4.700		04/15/48		2,956,708
	642,000		Murphy Oil Corp		5.875		12/01/27		653,235
	1,200,000		NAK Naftogaz Ukraine via Kondor Finance plc		7.375		07/19/22		405,600
	7,735,000	g	Northern Natural Gas Co		3.400		10/16/51		6,756,827
	325,000		Occidental Petroleum Corp		5.500		12/01/25		341,998
	475,000		Occidental Petroleum Corp		5.550		03/15/26		503,500
	5,000,000		Occidental Petroleum Corp		3.500		08/15/29		4,925,000
	1,975,000		Occidental Petroleum Corp		4.300		08/15/39		1,866,375
	1,450,000	g	Oleoducto Central S.A.		4.000		07/14/27		1,366,567
	1,025,000		ONEOK, Inc		4.000		07/13/27		1,033,627
	6,030,000		ONEOK, Inc		4.550		07/15/28		6,195,870
	7,750,000		ONEOK, Inc		4.350		03/15/29		7,913,235
	3,920,000		ONEOK, Inc		3.400		09/01/29		3,769,718
	7,750,000		ONEOK, Inc		4.500		03/15/50		7,413,116
	2,000,000	g	Parkland Corp		4.500		10/01/29		1,854,290
	1,260,000	g	Parkland Corp		4.625		05/01/30		1,171,800
	6,200,000	g	Pertamina Persero PT		1.400		02/09/26		5,712,146
	850,000	g	Pertamina Persero PT		3.650		07/30/29		837,928
	1,667,000		Petrobras Global Finance BV		5.999		01/27/28		1,749,433
	326,000		Petrobras Global Finance BV		5.093		01/15/30		325,596
	500,000		Petrobras Global Finance BV		5.600		01/03/31		506,250
	2,000,000		Petrobras Global Finance BV		6.900		03/19/49		1,986,960
	767,000	g	Petroleos del Peru S.A.		4.750		06/19/32		686,849
	2,700,000		Petroleos Mexicanos		5.950		01/28/31		2,492,127
	6,244,000		Petroleos Mexicanos		6.700		02/16/32		5,931,800
	546,000		Petroleos Mexicanos		6.750		09/21/47		443,843
	3,000,000		Petroleos Mexicanos		7.690		01/23/50		2,621,250
	5,950,000	g	Petronas Energy Canada Ltd		2.112		03/23/28		5,565,080
	15,790,000		Phillips 66		2.150		12/15/30		14,024,994
	2,400,000		Phillips 66		3.300		03/15/52		2,112,596
	860,000		Phillips 66 Partners LP		3.150		12/15/29		829,461
	775,000		Phillips 66 Partners LP		4.680		02/15/45		825,153
	1,700,000	g	PTTEP Treasury Center Co Ltd		2.587		06/10/27		1,624,367
	5,300,000	g	Qatar Petroleum		2.250		07/12/31		4,876,577
	654,000		Regency Energy Partners LP		4.500		11/01/23		663,929
	1,150,000	g	S.A. Global Sukuk Ltd		0.946		06/17/24		1,099,540
	270,000		Sabine Pass Liquefaction LLC		5.875		06/30/26		291,890
	6,125,000		Sabine Pass Liquefaction LLC		4.200		03/15/28		6,289,675
	11,115,000		Sabine Pass Liquefaction LLC		4.500		05/15/30		11,623,706
	1,825,000	g	Santos Finance Ltd		3.649		04/29/31		1,705,319
	3,175,000	g	Saudi Arabian Oil Co		2.250		11/24/30		2,907,223
	1,365,000		Shell International Finance BV		3.125		11/07/49		1,241,335
	1,975,000		Sunoco Logistics Partners Operations LP		4.000		10/01/27		1,987,703
	450,000		Sunoco Logistics Partners Operations LP		5.400		10/01/47		471,119
	1,150,000		Sunoco LP		4.500		05/15/29		1,084,950
	2,525,000	h	Targa Resources Corp		4.200		02/01/33		2,548,038
	2,500,000	h	Targa Resources Corp		4.950		04/15/52		2,547,031
	300,000		Targa Resources Partners LP		6.500		07/15/27		315,639
	1,000,000		Targa Resources Partners LP		4.000		01/15/32		961,985

171

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	4,000,000	g	Thaioil Treasury Center Co Ltd		2.500	%	06/18/30	$	3,429,680
	1,450,000		Total Capital International S.A.		2.986		06/29/41		1,321,084
	5,550,000		Total Capital International S.A.		3.127		05/29/50		5,063,429
	8,245,000		TransCanada PipeLines Ltd		4.250		05/15/28		8,566,385
	7,835,000		Transcanada Trust		5.500		09/15/79		7,819,330
	2,000,000	g	Tullow Oil plc		10.250		05/15/26		2,037,760
	1,260,000		USA Compression Partners LP		6.875		04/01/26		1,271,340
	500,000		USA Compression Partners LP		6.875		09/01/27		501,920
	1,857,000		Vale Overseas Ltd		6.875		11/21/36		2,240,025
	14,050,000		Williams Cos, Inc		2.600		03/15/31		12,937,394
	850,000		Williams Partners LP		3.750		06/15/27		859,287
			TOTAL ENERGY						378,249,411
FOOD & STAPLES RETAILING - 0.2%
	3,975,000		Costco Wholesale Corp		1.600		04/20/30		3,561,689
	3,000,000		Kroger Co		3.875		10/15/46		2,948,886
	730,000		SYSCO Corp		3.750		10/01/25		740,995
	3,700,000		SYSCO Corp		3.150		12/14/51		3,155,499
	3,600,000		Walmart, Inc		1.050		09/17/26		3,351,806
	294,000		Walmart, Inc		2.375		09/24/29		284,065
	5,155,000		Walmart, Inc		1.800		09/22/31		4,689,415
	3,900,000		Walmart, Inc		2.500		09/22/41		3,464,045
			TOTAL FOOD & STAPLES RETAILING						22,196,400
FOOD, BEVERAGE & TOBACCO - 1.1%
	2,700,000		Altria Group, Inc		5.950		02/14/49		2,922,895
	3,100,000	g	Anadolu Efes Biracilik Ve Malt Sanayii AS.		3.375		06/29/28		2,484,933
	10,260,000		Anheuser-Busch InBev Worldwide, Inc		4.750		01/23/29		11,123,637
	1,260,000		Anheuser-Busch InBev Worldwide, Inc		4.439		10/06/48		1,318,967
	3,150,000		BAT Capital Corp		2.259		03/25/28		2,826,406
	8,200,000		BAT Capital Corp		4.906		04/02/30		8,446,395
	12,520,000		BAT Capital Corp		2.726		03/25/31		11,033,862
	7,200,000		BAT International Finance plc		4.448		03/16/28		7,215,313
	1,575,000	g	Bidvest Group Ltd		3.625		09/23/26		1,470,312
	1,775,000	e,g	BRF S.A.		4.875		01/24/30		1,692,463
	2,500,000	g	BRF S.A.		5.750		09/21/50		2,200,000
	3,250,000	g	Cia Cervecerias Unidas S.A.		3.350		01/19/32		3,088,768
	1,830,000	g	CNTL AMR BOTTLING CORP		5.250		04/27/29		1,820,850
	3,000,000	g	Coca-Cola Icecek AS.		4.500		01/20/29		2,814,307
	750,000		Constellation Brands, Inc		4.400		11/15/25		773,898
	2,775,000		Constellation Brands, Inc		3.700		12/06/26		2,799,144
	1,150,000		Constellation Brands, Inc		3.150		08/01/29		1,110,462
	4,540,000		Constellation Brands, Inc		2.875		05/01/30		4,258,477
	13,700,000		Constellation Brands, Inc		2.250		08/01/31		12,063,479
	2,750,000		Diageo Capital plc		2.125		10/24/24		2,703,334
	2,320,000		Diageo Capital plc		1.375		09/29/25		2,197,022
	4,075,000		Diageo Capital plc		2.375		10/24/29		3,857,812
	1,950,000		Diageo Capital plc		2.000		04/29/30		1,778,108
	1,875,000	g	Embotelladora Andina S.A.		3.950		01/21/50		1,717,425
	2,000,000	g	Grupo Bimbo SAB de C.V.		4.700		11/10/47		2,045,807
	2,200,000	g	Kernel Holding S.A.		6.500		10/17/24		1,100,000
	2,000,000	g	NBM US Holdings, Inc		6.625		08/06/29		2,104,400

172

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	200,000		Philip Morris International, Inc		6.375	%	05/16/38	$	245,365
	2,025,000	g	Post Holdings, Inc		4.625		04/15/30		1,823,411
	5,500,000	g	Primo Water Holdings, Inc		4.375		04/30/29		4,978,050
	3,250,000	g	Sigma Alimentos S.A. de C.V.		4.125		05/02/26		3,274,375
	6,325,000	g	Ulker Biskuvi Sanayi AS.		6.950		10/30/25		5,529,568
			TOTAL FOOD, BEVERAGE & TOBACCO						114,819,245
HEALTH CARE EQUIPMENT & SERVICES - 1.5%
	1,200,000		Abbott Laboratories		5.300		05/27/40		1,461,678
	980,000		Advocate Health & Hospitals Corp		3.008		06/15/50		866,248
	630,000		Anthem, Inc		3.125		05/15/22		630,952
	9,160,000		Anthem, Inc		2.250		05/15/30		8,404,813
	2,100,000		Boston Scientific Corp		2.650		06/01/30		1,970,463
	1,640,000		Centene Corp		2.450		07/15/28		1,498,468
	8,310,000		Centene Corp		3.000		10/15/30		7,632,486
	1,800,000		Children’s Hospital Medic		4.268		05/15/44		1,948,120
	6,250,000	g	CHS/Community Health Systems, Inc		5.250		05/15/30		5,998,687
	2,550,000		Cigna Corp		3.200		03/15/40		2,317,876
	495,000		CVS Health Corp		3.875		07/20/25		504,957
	11,250,000		CVS Health Corp		3.750		04/01/30		11,446,759
	27,225,000		CVS Health Corp		1.750		08/21/30		23,859,889
	9,180,000		CVS Health Corp		1.875		02/28/31		8,082,636
	2,250,000		CVS Health Corp		4.780		03/25/38		2,458,886
	3,635,000		CVS Health Corp		2.700		08/21/40		3,099,201
	4,750,000		CVS Health Corp		5.050		03/25/48		5,379,332
	1,900,000		CVS Health Corp		4.250		04/01/50		1,971,160
	1,370,000		Dartmouth-Hitchcock Health		4.178		08/01/48		1,415,275
	1,800,000	g	DaVita, Inc		4.625		06/01/30		1,680,840
	425,000		Hackensack Meridian Health, Inc		2.875		09/01/50		359,375
	1,000,000		HCA, Inc		5.375		02/01/25		1,040,500
	2,815,000		HCA, Inc		5.625		09/01/28		3,043,719
	5,000,000		HCA, Inc		3.500		09/01/30		4,830,319
	1,900,000		HCA, Inc		5.500		06/15/47		2,143,958
	5,000,000		HCA, Inc		3.500		07/15/51		4,335,413
	3,500,000	g	Hologic, Inc		3.250		02/15/29		3,268,195
	1,875,000		Humana, Inc		3.950		03/15/27		1,904,451
	10,100,000		Humana, Inc		2.150		02/03/32		8,849,329
	3,490,000	g	LifePoint Health, Inc		4.375		02/15/27		3,371,672
	3,700,000	g	MPH Acquisition Holdings LLC		5.500		09/01/28		3,546,875
	3,375,000		MPT Operating Partnership LP		3.500		03/15/31		3,134,404
	225,000	g	Tenet Healthcare Corp		4.625		06/15/28		220,781
	5,400,000	g	Tenet Healthcare Corp		6.125		10/01/28		5,487,750
	2,500,000	g	Tenet Healthcare Corp		4.250		06/01/29		2,396,875
	3,200,000	g	Tenet Healthcare Corp		4.375		01/15/30		3,071,776
	1,525,000		UnitedHealth Group, Inc		2.950		10/15/27		1,524,504
	3,700,000		UnitedHealth Group, Inc		2.000		05/15/30		3,405,440
	6,185,000		UnitedHealth Group, Inc		2.300		05/15/31		5,808,758
	1,375,000		UnitedHealth Group, Inc		3.750		10/15/47		1,393,417
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						155,766,237

173

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
HOUSEHOLD & PERSONAL PRODUCTS - 0.0%
$	1,425,000		Church & Dwight Co, Inc		2.300	%	12/15/31	$	1,303,633
	600,000	g	Compass Group Diversified Holdings LLC		5.250		04/15/29		564,000
	2,250,000	g	Natura Cosmeticos S.A.		4.125		05/03/28		2,166,187
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS						4,033,820
INSURANCE - 1.1%
	1,550,000	g	Acrisure LLC		4.250		02/15/29		1,408,051
	285,000		Aetna, Inc		6.625		06/15/36		358,924
	131,000		Aflac, Inc		6.450		08/15/40		166,414
	3,000,000	g	AIA Group Ltd		3.600		04/09/29		3,021,790
	825,000	g	Alliant Holdings Intermediate LLC		4.250		10/15/27		793,543
	975,000		American Financial Group, Inc		3.500		08/15/26		983,885
	620,000		American International Group, Inc		3.750		07/10/25		629,996
	325,000	g	AmWINS Group, Inc		4.875		06/30/29		312,007
	11,160,000		Aon Corp		2.800		05/15/30		10,630,522
	2,790,000		Aon plc		3.500		06/14/24		2,813,620
	4,500,000		AXIS Specialty Finance LLC		4.900		01/15/40		4,387,500
	825,000		Berkshire Hathaway Finance Corp		2.875		03/15/32		799,922
	1,500,000		Berkshire Hathaway Finance Corp		4.250		01/15/49		1,642,659
	9,950,000		Berkshire Hathaway Finance Corp		2.850		10/15/50		8,614,398
	1,100,000		CNA Financial Corp		3.950		05/15/24		1,117,086
	1,750,000		CNA Financial Corp		2.050		08/15/30		1,553,121
	925,000	g	Equitable Financial Life Global Funding		1.400		07/07/25		868,317
	870,000	g	Equitable Financial Life Global Funding		1.800		03/08/28		782,495
	2,300,000	g	Five Corners Funding Trust		4.419		11/15/23		2,350,696
	8,225,000	g	Five Corners Funding Trust II		2.850		05/15/30		7,794,624
	2,500,000	g	Hanwha Life Insurance Co Ltd		3.379		02/04/32		2,396,794
	15,431,000		Hartford Financial Services Group, Inc		2.800		08/19/29		14,677,397
	350,000		Hartford Financial Services Group, Inc		4.300		04/15/43		351,717
	1,400,000		Hartford Financial Services Group, Inc		2.900		09/15/51		1,151,194
	3,475,000	g	HCA, Inc		3.625		03/15/32		3,405,343
	1,450,000	g	Liberty Mutual Group, Inc		3.951		10/15/50		1,371,513
	600,000		MetLife, Inc		3.000		03/01/25		601,656
	1,775,000		MetLife, Inc		3.600		11/13/25		1,810,752
	8,870,000		MetLife, Inc		3.850		N/A‡		8,747,594
	10,175,000		PartnerRe Finance B LLC		4.500		10/01/50		9,818,875
	3,500,000		Principal Financial Group, Inc		2.125		06/15/30		3,165,818
	3,700,000	g	Protective Life Global Funding		0.781		07/05/24		3,510,771
	2,000,000		Prudential Financial, Inc		3.905		12/07/47		1,993,325
	5,220,000		Prudential Financial, Inc		3.700		10/01/50		4,783,608
	2,220,000		Reinsurance Group of America, Inc		3.900		05/15/29		2,241,734
	525,000	g	Swiss Re Treasury US Corp		4.250		12/06/42		584,508
	365,000		Willis North America, Inc		3.600		05/15/24		367,102
			TOTAL INSURANCE						112,009,271
MATERIALS - 1.4%
	1,625,000	g	Alpek SAB de C.V.		4.250		09/18/29		1,605,500
	9,185,000		Amcor Flexibles North America, Inc		2.690		05/25/31		8,432,397
	1,425,000	g	Anglo American Capital plc		3.875		03/16/29		1,425,657
	2,300,000	g	Anglo American Capital plc		2.625		09/10/30		2,085,433

174

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	4,300,000		AngloGold Ashanti Holdings plc		3.375	%	11/01/28	$	4,033,055
	7,125,000		AngloGold Ashanti Holdings plc		3.750		10/01/30		6,665,437
	1,778,000	g	Antofagasta plc		2.375		10/14/30		1,573,548
	3,225,000	g	Ardagh Metal Packaging Finance USA LLC		3.250		09/01/28		2,926,687
	2,900,000	g	Ardagh Metal Packaging Finance USA LLC		4.000		09/01/29		2,613,335
	1,850,000		Ball Corp		2.875		08/15/30		1,658,608
	370,000		Bemis Co, Inc		3.100		09/15/26		364,441
	925,000		Bemis Co, Inc		2.630		06/19/30		852,438
	10,105,000		Berry Global, Inc		1.570		01/15/26		9,413,599
	6,100,000		Berry Global, Inc		1.650		01/15/27		5,556,406
	2,140,000	e,g	CANPACK S.A.		3.125		11/01/25		1,963,450
	2,500,000	g	Celulosa Arauco y Constitucion S.A.		4.250		04/30/29		2,487,925
	1,325,000	e,g	Celulosa Arauco y Constitucion S.A.		4.200		01/29/30		1,328,326
	2,325,000	g	Cemex SAB de C.V.		5.450		11/19/29		2,351,179
	2,925,000	g	Cemex SAB de C.V.		3.875		07/11/31		2,669,092
	1,500,000		Commercial Metals Co		4.125		01/15/30		1,400,625
	2,725,000	e,g	Constellium SE		3.750		04/15/29		2,445,687
	1,750,000	g	Corp Nacional del Cobre de Chile		3.625		08/01/27		1,753,524
	3,000,000	g	Corp Nacional del Cobre de Chile		3.000		09/30/29		2,857,573
	2,000,000	g	Corp Nacional del Cobre de Chile		3.150		01/14/30		1,923,169
	1,500,000	g	Corp Nacional del Cobre de Chile		3.150		01/15/51		1,214,588
	265,000		DowDuPont, Inc		4.493		11/15/25		275,613
	1,140,000		DowDuPont, Inc		4.725		11/15/28		1,221,713
	2,400,000		Freeport-McMoRan, Inc		5.450		03/15/43		2,687,616
	1,500,000	g	Fresnillo plc		4.250		10/02/50		1,321,890
	1,975,000	g	GCC SAB de C.V.		3.614		04/20/32		1,831,812
	1,250,000	g	Gold Fields Orogen Holdings BVI Ltd		6.125		05/15/29		1,353,750
	187,000		International Paper Co		4.350		08/15/48		195,798
	3,000,000	g	Inversiones CMPC S.A.		4.375		04/04/27		3,137,850
	4,900,000	g	Inversiones CMPC S.A.		3.000		04/06/31		4,416,174
	675,000	g	James Hardie International Finance DAC		5.000		01/15/28		664,477
	2,000,000	g	Klabin Austria GmbH		5.750		04/03/29		2,105,780
	710,000	g	Midwest Connector Capital Co LLC		4.625		04/01/29		717,495
	1,600,000		Mosaic Co		4.875		11/15/41		1,688,373
	3,390,000		Newmont Corp		2.600		07/15/32		3,118,558
	2,900,000	g	Nova Chemicals Corp		4.875		06/01/24		2,932,610
	6,350,000		Nutrien Ltd		2.950		05/13/30		6,124,871
	1,920,000	g	OCI NV		4.625		10/15/25		1,934,400
	1,600,000	g	OCP S.A.		3.750		06/23/31		1,450,510
	3,862,000	g	Orbia Advance Corp SAB de C.V.		1.875		05/11/26		3,617,922
	480,000		Packaging Corp of America		3.650		09/15/24		486,163
	375,000	g	PolyOne Corp		5.750		05/15/25		384,975
	1,475,000		Sasol Financing USA LLC		5.875		03/27/24		1,494,618
	2,250,000		Sasol Financing USA LLC		4.375		09/18/26		2,148,750
	2,000,000	g	Sociedad Quimica y Minera de Chile S.A.		4.250		05/07/29		2,067,520
	2,500,000	g	Sociedad Quimica y Minera de Chile S.A.		3.500		09/10/51		2,156,900
	2,400,000		Suzano Austria GmbH		3.750		01/15/31		2,259,600
	5,000,000		Suzano Austria GmbH		3.125		01/15/32		4,426,900
	4,070,000	g	Tronox, Inc		4.625		03/15/29		3,810,538
	3,675,000	g	UltraTech Cement Ltd		2.800		02/16/31		3,227,266
	815,000	g	Unifrax Escrow Issuer Corp		5.250		09/30/28		757,082
	800,000	g	WR Grace Holdings LLC		5.625		08/15/29		748,080
	2,400,000		WRKCo, Inc		4.900		03/15/29		2,584,670
	3,950,000		WRKCo, Inc		3.000		06/15/33		3,689,090
			TOTAL MATERIALS						142,641,043

175

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
MEDIA & ENTERTAINMENT - 2.1%
$	2,675,000		Activision Blizzard, Inc		3.400	%	09/15/26	$	2,722,652
	1,850,000		Activision Blizzard, Inc		1.350		09/15/30		1,603,575
	6,850,000		Agree LP		2.000		06/15/28		6,205,222
	4,787,059	g	Alfa Desarrollo S.p.A		4.550		09/27/51		4,152,774
	3,315,000	g	Arches Buyer, Inc		4.250		06/01/28		3,092,431
	1,050,000	e	AstraZeneca Finance LLC		2.250		05/28/31		977,697
	1,275,000		Baidu, Inc		4.375		05/14/24		1,297,223
	2,030,000		Baidu, Inc		1.625		02/23/27		1,817,703
	4,100,000	g	BOC Aviation USA Corp		1.625		04/29/24		3,938,255
	1,575,000	g	Cable Onda S.A.		4.500		01/30/30		1,536,412
	4,900,000	g	CCO Holdings LLC		5.125		05/01/27		4,907,227
	2,500,000	g	CCO Holdings LLC		4.500		08/15/30		2,345,731
	5,000,000	g	CCO Holdings LLC		4.250		02/01/31		4,537,500
	4,725,000		Charter Communications Operating LLC		2.250		01/15/29		4,251,878
	4,000,000		Charter Communications Operating LLC		2.800		04/01/31		3,605,176
	5,000,000		Charter Communications Operating LLC		3.500		03/01/42		4,133,666
	2,400,000		Charter Communications Operating LLC		5.125		07/01/49		2,380,988
	15,750,000		Charter Communications Operating LLC		4.800		03/01/50		14,961,074
	9,680,000		Charter Communications Operating LLC		3.700		04/01/51		7,977,274
	13,450,000		Comcast Corp		2.350		01/15/27		13,078,201
	3,700,000		Comcast Corp		4.150		10/15/28		3,888,031
	7,575,000		Comcast Corp		1.500		02/15/31		6,600,105
	4,525,000		Comcast Corp		3.200		07/15/36		4,329,120
	1,000,000		Comcast Corp		3.900		03/01/38		1,029,974
	10,080,000		Comcast Corp		2.800		01/15/51		8,500,123
	11,178,000	g	Comcast Corp		2.887		11/01/51		9,423,449
	10,186,000	g	Comcast Corp		2.937		11/01/56		8,408,780
	4,100,000	g	CSC Holdings LLC		5.500		04/15/27		4,064,125
	5,000,000	g	CSC Holdings LLC		3.375		02/15/31		4,212,500
	1,225,000	g	CT Trust		5.125		02/03/32		1,223,775
	985,000	g	DIRECTV Holdings LLC		5.875		08/15/27		968,994
	656,000		Discovery Communications LLC		2.950		03/20/23		657,463
	3,095,000		Discovery Communications LLC		3.625		05/15/30		3,006,169
	760,000		Discovery Communications LLC		4.875		04/01/43		761,822
	1,450,000		DISH DBS Corp		5.000		03/15/23		1,455,133
	1,000,000		DISH DBS Corp		7.750		07/01/26		993,500
	2,375,000	g	DISH DBS Corp		5.250		12/01/26		2,262,187
	1,300,000	g	Electricidad Firme de Mexico Holdings S.A. de C.V.		4.900		11/20/26		1,210,638
	1,950,000	g	Empresa de los Ferrocarriles del Estado		3.068		08/18/50		1,447,875
	2,375,000	g	ENN Clean Energy International Investment Ltd		3.375		05/12/26		2,220,445
	5,500,000	g	Genm Capital Labuan Ltd		3.882		04/19/31		4,794,777
	2,985,000		Grupo Televisa SAB		6.625		01/15/40		3,572,138
	3,300,000	g	GSK Consumer Healthcare Capital US LLC		3.375		03/24/27		3,299,957
	5,300,000	g	GSK Consumer Healthcare Capital US LLC		3.625		03/24/32		5,295,018
	650,000		Lamar Media Corp		3.750		02/15/28		617,204
	2,000,000		Lamar Media Corp		4.875		01/15/29		1,985,000
	1,000,000		Lamar Media Corp		4.000		02/15/30		951,250
	1,675,000		Lamar Media Corp		3.625		01/15/31		1,537,868
	1,275,000	g	LCPR Senior Secured Financing DAC		5.125		07/15/29		1,217,236

176

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	1,800,000	†,g	LUKOIL Capital DAC		2.800	%	04/26/27	$	990,000
	3,000,000	†,g	LUKOIL Capital DAC		3.600		10/26/31		1,602,000
	5,000,000	†,g	LUKOIL Securities BV		3.875		05/06/30		2,675,000
	7,375,000	g	Magallanes, Inc		5.050		03/15/42		7,522,723
	3,275,000	g	Magallanes, Inc		5.141		03/15/52		3,350,635
	1,000,000	g	Medco Laurel Tree Pte Ltd		6.950		11/12/28		975,937
	2,645,000	g	Mexico Remittances Funding Fiduciary Estate Management Sarl		4.875		01/15/28		2,064,423
	3,260,000	g	Misc Capital Two Labuan Ltd		3.750		04/06/27		3,240,437
	825,000	g	News Corp		3.875		05/15/29		779,625
	1,375,000	g	S&P Global, Inc		4.250		05/01/29		1,447,966
	2,725,000	g	Sirius XM Radio, Inc		4.000		07/15/28		2,588,750
	1,575,000	g	Sirius XM Radio, Inc		4.125		07/01/30		1,474,468
	750,000	g	TEGNA, Inc		4.750		03/15/26		749,610
	500,000		TEGNA, Inc		4.625		03/15/28		497,360
	250,000		Time Warner Cable LLC		5.875		11/15/40		268,677
	1,275,000	g	Univision Communications, Inc		4.500		05/01/29		1,213,653
	800,000		ViacomCBS, Inc		3.375		02/15/28		782,971
	1,770,000		ViacomCBS, Inc		4.375		03/15/43		1,684,598
	200,000		ViacomCBS, Inc		5.850		09/01/43		230,434
	2,940,000		Viatris, Inc		1.650		06/22/25		2,735,812
	4,500,000		Walt Disney Co		3.000		09/15/22		4,534,837
	110,000		Walt Disney Co		7.625		11/30/28		136,502
	85,000		Walt Disney Co		6.550		03/15/33		108,043
	2,325,000		Weibo Corp		3.375		07/08/30		1,983,883
			TOTAL MEDIA & ENTERTAINMENT						223,095,659
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 1.0%
	1,550,000		AbbVie, Inc		2.850		05/14/23		1,559,237
	12,900,000		AbbVie, Inc		3.800		03/15/25		13,139,712
	12,375,000		AbbVie, Inc		4.050		11/21/39		12,714,161
	2,072,000		AbbVie, Inc		4.400		11/06/42		2,186,007
	1,360,000		AbbVie, Inc		4.450		05/14/46		1,445,114
	11,350,000		AbbVie, Inc		4.250		11/21/49		11,778,086
	1,775,000		AstraZeneca plc		3.125		06/12/27		1,786,319
	12,000,000		AstraZeneca plc		1.375		08/06/30		10,457,177
	1,500,000	g	Avantor Funding, Inc		4.625		07/15/28		1,483,500
	2,040,000	g	Avantor Funding, Inc		3.875		11/01/29		1,917,600
	3,150,000		Bristol-Myers Squibb Co		2.350		11/13/40		2,658,124
	3,050,000		Bristol-Myers Squibb Co		3.550		03/15/42		3,016,622
	1,065,000		Danaher Corp		2.800		12/10/51		904,969
	475,000	g	Endo Luxembourg Finance Co I Sarl		6.125		04/01/29		433,437
	635,000		Gilead Sciences, Inc		4.000		09/01/36		648,725
	5,830,000		Gilead Sciences, Inc		2.800		10/01/50		4,770,829
	1,250,000		Johnson & Johnson		3.400		01/15/38		1,274,440
	2,250,000		Merck & Co, Inc		2.750		12/10/51		1,959,840
	4,075,000		Mylan, Inc		4.550		04/15/28		4,119,961
	2,500,000	g	Organon Finance LLC		4.125		04/30/28		2,381,763
	5,650,000	g	Organon Finance LLC		5.125		04/30/31		5,452,250
	11,155,000		Takeda Pharmaceutical Co Ltd		2.050		03/31/30		10,068,900

177

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	1,000,000		Takeda Pharmaceutical Co Ltd		3.025	%	07/09/40	$	891,606
	1,544,000		Teva Pharmaceutical Finance Netherlands III BV		2.800		07/21/23		1,523,079
	3,500,000		Teva Pharmaceutical Finance Netherlands III BV		3.150		10/01/26		3,168,865
	695,000		Teva Pharmaceutical Finance Netherlands III BV		4.750		05/09/27		667,165
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						102,407,488
REAL ESTATE - 2.0%
	5,450,000		Alexandria Real Estate Equities, Inc		3.450		04/30/25		5,484,615
	450,000		Alexandria Real Estate Equities, Inc		3.950		01/15/27		460,077
	675,000		Alexandria Real Estate Equities, Inc		3.950		01/15/28		689,223
	2,775,000		Alexandria Real Estate Equities, Inc		4.900		12/15/30		3,067,864
	1,900,000		Alexandria Real Estate Equities, Inc		1.875		02/01/33		1,607,006
	2,700,000		American Tower Corp		2.950		01/15/25		2,669,381
	600,000		American Tower Corp		3.375		10/15/26		591,993
	1,200,000		American Tower Corp		3.600		01/15/28		1,188,500
	5,370,000		American Tower Corp		1.500		01/31/28		4,744,911
	5,800,000		American Tower Corp		3.800		08/15/29		5,771,774
	6,950,000		American Tower Corp		2.900		01/15/30		6,449,088
	1,375,000		American Tower Corp		2.100		06/15/30		1,199,151
	890,000		American Tower Corp		1.875		10/15/30		757,450
	1,975,000		Brandywine Operating Partnership LP		3.950		02/15/23		1,987,840
	1,125,000		Brandywine Operating Partnership LP		4.100		10/01/24		1,138,176
	2,225,000		Brixmor Operating Partnership LP		3.850		02/01/25		2,241,379
	8,206,000		Brixmor Operating Partnership LP		2.250		04/01/28		7,494,020
	1,700,000		Brixmor Operating Partnership LP		2.500		08/16/31		1,501,514
	2,000,000		Camden Property Trust		4.250		01/15/24		2,031,242
	400,000		Crown Castle International Corp		3.650		09/01/27		397,097
	7,625,000		Crown Castle International Corp		2.250		01/15/31		6,720,557
	3,130,000		Crown Castle International Corp		2.100		04/01/31		2,706,781
	2,900,000		CubeSmart LP		2.250		12/15/28		2,633,419
	1,474,000		CubeSmart LP		2.000		02/15/31		1,282,406
	1,525,000		Digital Realty Trust LP		3.600		07/01/29		1,518,089
	1,075,000		Duke Realty LP		2.875		11/15/29		1,030,503
	7,735,000		Essential Properties LP		2.950		07/15/31		6,766,867
	5,000,000		Essex Portfolio LP		3.875		05/01/24		5,056,584
	3,200,000		Essex Portfolio LP		3.000		01/15/30		3,063,796
	1,225,000		Federal Realty Investment Trust		1.250		02/15/26		1,127,301
	4,980,000	g	HAT Holdings I LLC		3.375		06/15/26		4,731,000
	1,675,000		Healthcare Realty Trust, Inc		3.875		05/01/25		1,686,384
	3,000,000		Healthcare Realty Trust, Inc		3.625		01/15/28		2,971,279
	1,660,000		Healthcare Realty Trust, Inc		2.400		03/15/30		1,505,821
	925,000	e	Healthcare Realty Trust, Inc		2.050		03/15/31		804,658
	4,125,000		Healthcare Trust of America Holdings LP		3.500		08/01/26		4,112,548
	6,765,000		Healthcare Trust of America Holdings LP		3.100		02/15/30		6,430,732
	7,500,000		Highwoods Realty LP		3.875		03/01/27		7,553,482
	1,025,000		Highwoods Realty LP		4.125		03/15/28		1,038,949
	1,350,000		Highwoods Realty LP		4.200		04/15/29		1,376,624
	8,010,000		Highwoods Realty LP		3.050		02/15/30		7,613,476
	2,085,000		Highwoods Realty LP		2.600		02/01/31		1,891,851
	1,225,000	g	Howard Hughes Corp		4.125		02/01/29		1,149,368
	835,000		Hudson Pacific Properties LP		3.950		11/01/27		838,324

178

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	1,400,000		Kennedy-Wilson, Inc		4.750	%	03/01/29	$	1,349,782
	1,475,000		Kennedy-Wilson, Inc		5.000		03/01/31		1,416,000
	2,275,000		Life Storage LP		2.400		10/15/31		2,004,910
	1,200,000		Mid-America Apartments LP		4.300		10/15/23		1,220,113
	1,200,000		Mid-America Apartments LP		3.750		06/15/24		1,216,187
	1,050,000		Mid-America Apartments LP		4.000		11/15/25		1,071,623
	7,350,000		Mid-America Apartments LP		2.750		03/15/30		7,017,449
	6,200,000		Mid-America Apartments LP		1.700		02/15/31		5,375,599
	1,700,000		Mid-America Apartments LP		2.875		09/15/51		1,423,791
	625,000		National Retail Properties, Inc		4.000		11/15/25		640,043
	1,850,000		National Retail Properties, Inc		3.600		12/15/26		1,854,204
	1,100,000		Regency Centers LP		3.900		11/01/25		1,118,387
	950,000		Regency Centers LP		3.600		02/01/27		962,780
	5,885,000		Regency Centers LP		2.950		09/15/29		5,606,441
	4,425,000		Retail Properties of America, Inc		4.750		09/15/30		4,573,041
	17,050,000	g	SBA Tower Trust		2.836		01/15/25		16,772,288
	8,398,000	g	SBA Tower Trust		1.884		01/15/26		7,923,175
	7,500,000	g	SBA Tower Trust		1.631		11/15/26		7,048,084
	646,000		SITE Centers Corp		3.625		02/01/25		646,420
	2,000,000		SITE Centers Corp		4.250		02/01/26		2,023,334
	2,833,000		SITE Centers Corp		4.700		06/01/27		2,932,273
	400,000		Weingarten Realty Investors		3.375		10/15/22		401,763
	1,876,000		Weingarten Realty Investors		3.500		04/15/23		1,891,291
	475,000		Weingarten Realty Investors		4.450		01/15/24		483,569
	1,025,000		Weingarten Realty Investors		3.850		06/01/25		1,036,033
	700,000		Weingarten Realty Investors		3.250		08/15/26		696,330
	1,075,000		Weyerhaeuser Co		4.000		03/09/52		1,072,861
			TOTAL REAL ESTATE						206,860,871
RETAILING - 0.5%
	1,550,000		Amazon.com, Inc		2.875		05/12/41		1,430,519
	2,670,000	g	Asbury Automotive Group, Inc		4.625		11/15/29		2,486,437
	755,000	g	Asbury Automotive Group, Inc		5.000		02/15/32		701,803
	980,000		AutoNation, Inc		1.950		08/01/28		877,096
	3,275,000		AutoZone, Inc		1.650		01/15/31		2,791,631
	300,000		Chevron USA, Inc		3.900		11/15/24		308,976
	550,000	g	Group 1 Automotive, Inc		4.000		08/15/28		512,188
	520,000		Home Depot, Inc		2.625		06/01/22		520,588
	4,500,000	g	JSM Global Sarl		4.750		10/20/30		3,943,170
	1,665,000	g	Kia Corp		2.375		02/14/25		1,618,254
	925,000	g	L Brands, Inc		6.625		10/01/30		971,250
	850,000	g	Lithia Motors, Inc		4.625		12/15/27		843,625
	4,900,000	g	Magic Mergeco, Inc		5.250		05/01/28		4,498,690
	437,000	g	Myriad International Holdings BV		4.850		07/06/27		423,247
	4,215,000		O’Reilly Automotive, Inc		3.550		03/15/26		4,241,220
	2,175,000		O’Reilly Automotive, Inc		3.600		09/01/27		2,198,310
	2,100,000		O’Reilly Automotive, Inc		4.200		04/01/30		2,171,884
	9,530,000		O’Reilly Automotive, Inc		1.750		03/15/31		8,140,499
	2,000,000	g	Prosus NV		3.832		02/08/51		1,457,512
	4,950,000	g	Staples, Inc		7.500		04/15/26		4,806,970
	550,000	g	Superior Plus LP		4.500		03/15/29		516,797
	5,315,000		Target Corp		2.350		02/15/30		5,077,345
	2,575,000	g	Volkswagen Group of America Finance LLC		1.625		11/24/27		2,286,242
			TOTAL RETAILING						52,824,253

179

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.5%
$	1,925,000	g	Broadcom, Inc		4.000	%	04/15/29	$	1,924,057
	4,032,000		Broadcom, Inc		4.150		11/15/30		4,086,387
	8,075,000	g	Broadcom, Inc		2.450		02/15/31		7,203,530
	3,920,000	g	Broadcom, Inc		3.419		04/15/33		3,658,621
	6,774,000	g	Broadcom, Inc		3.469		04/15/34		6,273,613
	1,718,000	g	Broadcom, Inc		3.187		11/15/36		1,491,377
	260,000		Intel Corp		3.150		05/11/27		262,209
	1,150,000		Intel Corp		3.734		12/08/47		1,148,569
	1,350,000		Lam Research Corp		3.750		03/15/26		1,387,191
	1,525,000		Lam Research Corp		4.000		03/15/29		1,598,401
	4,515,000		Lam Research Corp		1.900		06/15/30		4,091,643
	4,735,000		NVIDIA Corp		2.000		06/15/31		4,319,537
	1,650,000	g	NXP BV		2.700		05/01/25		1,599,263
	2,650,000	g	NXP BV		3.875		06/18/26		2,658,515
	1,200,000	g	NXP BV		3.400		05/01/30		1,163,107
	2,575,000	g	NXP BV		3.125		02/15/42		2,216,789
	4,300,000	g	SK Hynix, Inc		1.500		01/19/26		3,977,799
	1,100,000		Texas Instruments, Inc		2.625		05/15/24		1,103,791
	1,100,000		Texas Instruments, Inc		4.150		05/15/48		1,221,554
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT						51,385,953
SOFTWARE & SERVICES - 0.6%
	11,405,000		Adobe, Inc		2.300		02/01/30		10,790,585
	265,000	g	CA Magnum Holdings		5.375		10/31/26		261,025
	90,000	g	Camelot Finance S.A.		4.500		11/01/26		87,525
	690,000	g	Clarivate Science Holdings Corp		3.875		07/01/28		658,101
	5,330,000		Fiserv, Inc		3.500		07/01/29		5,246,278
	900,000	g	Gartner, Inc		3.750		10/01/30		844,875
	3,500,000	g	HCL America, Inc		1.375		03/10/26		3,204,420
	1,413,000	g	j2 Global, Inc		4.625		10/15/30		1,345,494
	19,000,000		Microsoft Corp		2.400		08/08/26		18,840,955
	1,911,000		Microsoft Corp		2.525		06/01/50		1,650,139
	1,885,000	g	NCR Corp		5.000		10/01/28		1,804,888
	2,830,000	g	Open Text Corp		3.875		12/01/29		2,688,500
	550,000	g	Open Text Holdings, Inc		4.125		02/15/30		521,507
	1,425,000	g	Prosus NV		4.193		01/19/32		1,253,829
	1,525,000	g	Rackspace Technology Global, Inc		3.500		02/15/28		1,364,303
	875,000		salesforce.com, Inc		3.700		04/11/28		904,037
	3,625,000		salesforce.com, Inc		1.950		07/15/31		3,316,331
	3,150,000		salesforce.com, Inc		2.700		07/15/41		2,787,727
	580,000		Visa, Inc		3.150		12/14/25		586,666
	3,400,000		Visa, Inc		2.700		04/15/40		3,091,178
			TOTAL SOFTWARE & SERVICES						61,248,363
TECHNOLOGY HARDWARE & EQUIPMENT - 0.6%
	3,450,000		Amphenol Corp		2.800		02/15/30		3,270,985
	8,575,000		Apple, Inc		2.450		08/04/26		8,469,979
	19,975,000		Apple, Inc		2.050		09/11/26		19,388,590
	5,370,000		Apple, Inc		1.650		02/08/31		4,832,696
	1,100,000		Apple, Inc		4.650		02/23/46		1,301,582

180

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	1,590,000		Apple, Inc		2.650	%	02/08/51	$	1,371,508
	1,865,000		Corning, Inc		4.375		11/15/57		1,884,792
	4,415,000		Dell International LLC		5.300		10/01/29		4,809,038
	11,625,000	g	Imola Merger Corp		4.750		05/15/29		11,194,410
	6,000,000	g	Lenovo Group Ltd		3.421		11/02/30		5,554,132
	975,000	g	Sensata Technologies BV		4.000		04/15/29		928,424
	525,000		Tyco Electronics Group S.A.		3.700		02/15/26		535,711
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						63,541,847
TELECOMMUNICATION SERVICES - 2.4%
	3,775,000	g	Altice France S.A.		5.125		07/15/29		3,383,344
	3,075,000	g	America Movil SAB de C.V.		5.375		04/04/32		3,095,018
	15,950,000		AT&T, Inc		2.250		02/01/32		14,143,158
	12,477,000		AT&T, Inc		2.550		12/01/33		11,085,121
	2,300,000		AT&T, Inc		4.500		05/15/35		2,436,507
	4,900,000		AT&T, Inc		3.500		06/01/41		4,511,528
	8,825,000		AT&T, Inc		3.300		02/01/52		7,564,722
	36,400,000		AT&T, Inc		3.550		09/15/55		32,103,571
	12,174,000		AT&T, Inc		3.800		12/01/57		11,106,827
	2,399,000		AT&T, Inc		3.650		09/15/59		2,103,761
	3,775,000	g	Avaya, Inc		6.125		09/15/28		3,722,792
	2,000,000	g	Bharti Airtel Ltd		4.375		06/10/25		2,014,420
	4,250,000	g	Bharti Airtel Ltd		3.250		06/03/31		3,927,911
	2,500,000	g	C&W Senior Financing Designated Activity Co		6.875		09/15/27		2,481,250
	3,850,000	g	Empresa Nacional de Telecomunicaciones S.A.		3.050		09/14/32		3,493,875
	1,925,000	g	Iliad Holding SASU		6.500		10/15/26		1,930,198
	1,675,000	g	Millicom International Cellular S.A.		4.500		04/27/31		1,559,919
	2,500,000	g	MTN Mauritius Investment Ltd		6.500		10/13/26		2,630,255
	500,000		Orange S.A.		5.375		01/13/42		574,592
	4,700,000		Telefonica Emisiones SAU		4.103		03/08/27		4,806,915
	5,000,000		Telefonica Emisiones SAU		5.213		03/08/47		5,358,271
	2,990,000		Telefonica Emisiones SAU		4.895		03/06/48		3,091,678
	3,000,000	g	Telefonica Moviles Chile S.A.		3.537		11/18/31		2,790,000
	800,000		T-Mobile USA, Inc		2.250		02/15/26		753,840
	3,000,000		T-Mobile USA, Inc		2.625		02/15/29		2,738,190
	19,910,000		T-Mobile USA, Inc		3.875		04/15/30		19,986,437
	16,800,000		T-Mobile USA, Inc		2.550		02/15/31		15,234,264
	1,275,000		T-Mobile USA, Inc		3.000		02/15/41		1,077,781
	1,150,000		T-Mobile USA, Inc		4.500		04/15/50		1,163,404
	4,545,000		T-Mobile USA, Inc		3.300		02/15/51		3,824,283
	1,375,000		Verizon Communications, Inc		1.680		10/30/30		1,198,902
	13,630,000		Verizon Communications, Inc		1.750		01/20/31		11,883,590
	27,600,000		Verizon Communications, Inc		2.550		03/21/31		25,641,780
	2,568,000	g	Verizon Communications, Inc		2.355		03/15/32		2,319,456
	18,400,000		Verizon Communications, Inc		2.875		11/20/50		15,373,627
	4,915,000	g	Vmed O2 UK Financing I plc		4.750		07/15/31		4,632,388
	7,735,000		Vodafone Group plc		4.375		02/19/43		7,763,645
	5,800,000		Vodafone Group plc		4.250		09/17/50		5,777,655
			TOTAL TELECOMMUNICATION SERVICES						249,284,875
TRANSPORTATION - 0.5%
	1,000,000	g	Adani Ports & Special Economic Zone Ltd		4.000		07/30/27		970,979
	800,000	g	Adani Ports & Special Economic Zone Ltd		4.200		08/04/27		779,333

181

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	2,300,000	e,g	Adani Ports & Special Economic Zone Ltd		3.100	%	02/02/31	$	1,980,122
	4,500,000	g	AerCap Global Aviation		6.500		06/15/45		4,406,130
	2,750,000		Burlington Northern Santa Fe LLC		3.050		02/15/51		2,524,845
	6,375,000		Canadian Pacific Railway Co		2.050		03/05/30		5,839,771
	2,950,000		Canadian Pacific Railway Co		3.100		12/02/51		2,608,217
	1,000,000		CSX Corp		2.600		11/01/26		983,962
	625,000		CSX Corp		3.250		06/01/27		629,118
	700,000		CSX Corp		3.800		03/01/28		723,228
	9,715,000		CSX Corp		4.250		03/15/29		10,302,445
	1,500,000	g	DP World Ltd		5.625		09/25/48		1,622,073
	2,235,000	g	First Student Bidco, Inc		4.000		07/31/29		2,084,182
	1,443,000	g	Mexico City Airport Trust		4.250		10/31/26		1,426,781
	5,000,000	g	Mexico City Airport Trust		5.500		07/31/47		4,406,300
	2,650,000	g	Pelabuhan Indonesia III Persero PT		4.500		05/02/23		2,686,782
	3,000,000		Southwest Airlines Co		5.125		06/15/27		3,207,106
	5,200,000		Union Pacific Corp		2.891		04/06/36		4,858,880
	1,175,000		Union Pacific Corp		3.839		03/20/60		1,179,085
			TOTAL TRANSPORTATION						53,219,339
UTILITIES - 3.0%
	1,675,000	g	Abu Dhabi National Energy Co PJSC		2.000		04/29/28		1,558,668
	1,775,000	g	Access Bank plc		6.125		09/21/26		1,671,982
	1,787,375	g	Adani Transmission Ltd		4.250		05/21/36		1,636,567
	1,000,000		AEP Transmission Co LLC		3.100		12/01/26		997,515
	1,000,000		AEP Transmission Co LLC		4.000		12/01/46		1,018,127
	1,740,000		AEP Transmission Co LLC		3.750		12/01/47		1,708,855
	2,140,000		AEP Transmission Co LLC		2.750		08/15/51		1,753,041
	1,450,000	g	Aeropuerto Internacional de Tocumen S.A.		4.000		08/11/41		1,318,512
	725,000		Alabama Power Co		4.150		08/15/44		735,986
	3,000,000		Alabama Power Co		3.450		10/01/49		2,783,101
	10,350,000		Alabama Power Co		3.125		07/15/51		8,999,457
	4,600,000		Ameren Corp		3.650		02/15/26		4,655,630
	1,650,000		American Water Capital Corp		3.000		12/01/26		1,645,691
	3,075,000		American Water Capital Corp		2.800		05/01/30		2,945,837
	10,000,000		American Water Capital Corp		2.300		06/01/31		9,120,301
	1,400,000		American Water Capital Corp		4.000		12/01/46		1,414,470
	1,425,000		American Water Capital Corp		3.750		09/01/47		1,390,962
	675,000		American Water Capital Corp		3.450		05/01/50		632,740
	760,000		American Water Capital Corp		3.250		06/01/51		685,554
	2,990,000		Atmos Energy Corp		1.500		01/15/31		2,575,576
	375,000		Atmos Energy Corp		4.125		10/15/44		384,530
	800,000	g	Azure Power Solar Energy Pvt Ltd		5.650		12/24/24		817,880
	2,050,000		Baltimore Gas & Electric Co		3.750		08/15/47		2,018,866
	5,535,000	g	Becle SAB de C.V.		2.500		10/14/31		4,910,099
	4,950,000		Berkshire Hathaway Energy Co		3.250		04/15/28		4,952,279
	7,137,000	e	Berkshire Hathaway Energy Co		1.650		05/15/31		6,214,972
	1,075,000		Black Hills Corp		4.250		11/30/23		1,095,561
	850,000		Black Hills Corp		3.150		01/15/27		834,172
	760,000		Black Hills Corp		3.875		10/15/49		717,380
	1,200,000		CenterPoint Energy Houston Electric LLC		3.000		03/01/32		1,173,200
	660,000		CenterPoint Energy Resources Corp		6.250		02/01/37		806,165
	1,125,000		CMS Energy Corp		3.600		11/15/25		1,132,180

182

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	2,125,000	g	Colbun S.A.		3.150	%	01/19/32	$	1,933,750
	3,000,000	g	Comision Federal de Electricidad		3.348		02/09/31		2,625,030
	395,000		Commonwealth Edison Co		5.900		03/15/36		484,836
	9,470,000		Commonwealth Edison Co		3.000		03/01/50		8,499,874
	2,750,000		Commonwealth Edison Co		2.750		09/01/51		2,336,522
	1,235,000		Consolidated Edison Co of New York, Inc		3.950		03/01/43		1,205,488
	1,425,000		Consumers Energy Co		2.650		08/15/52		1,182,819
	6,300,000		Dominion Energy, Inc		3.300		04/15/41		5,715,667
	12,000,000		Dominion Energy, Inc		4.350		N/A‡		11,604,720
	14,570,000		Duke Energy Corp		3.300		06/15/41		13,191,958
	3,125,000		Duke Energy Corp		3.750		09/01/46		2,949,705
	297,024		Duke Energy Florida Project Finance LLC		1.731		09/01/22		296,083
	3,310,000		Duke Energy Progress LLC		2.500		08/15/50		2,688,521
	2,100,000		Eastern Energy Gas Holdings LLC		2.500		11/15/24		2,078,119
	6,000,000		Edison International		5.375		N/A‡		5,788,500
	2,390,000	g	Empresas Publicas de Medellin ESP		4.250		07/18/29		2,127,578
	2,500,000		Enel Chile S.A.		4.875		06/12/28		2,589,775
	4,900,000	g	EnfraGen Energia Sur S.A.		5.375		12/30/30		3,403,932
	3,500,000	g	ENN Energy Holdings Ltd		2.625		09/17/30		3,140,949
	1,000,000		Entergy Arkansas LLC		2.650		06/15/51		815,352
	3,700,000		Entergy Corp		0.900		09/15/25		3,392,983
	2,600,000	g	Equate Petrochemical BV		2.625		04/28/28		2,403,956
	900,000	g	Eskom Holdings SOC Ltd		8.450		08/10/28		875,860
	2,525,000		Eversource Energy		1.650		08/15/30		2,175,287
	3,000,000		Eversource Energy		3.450		01/15/50		2,722,846
	1,225,000		Exelon Corp		4.050		04/15/30		1,264,488
	2,700,000		Florida Power & Light Co		3.990		03/01/49		2,886,364
UGX	8,000,000,000	†,g	ICBC Standard Bank plc		14.250		06/26/34		2,121,640
$	1,150,000		Indiana Michigan Power Co		3.750		07/01/47		1,096,743
	2,865,000		Indiana Michigan Power Co		3.250		05/01/51		2,555,745
	2,000,000	g	Inkia Energy Ltd		5.875		11/09/27		1,930,020
	6,000,000	g	Israel Electric Corp Ltd		4.250		08/14/28		6,042,600
	2,000,000	g	Kallpa Generacion SA		4.125		08/16/27		2,001,000
	2,200,000	g	Korea Hydro & Nuclear Power Co Ltd		3.750		07/25/23		2,231,834
	2,600,000	g	Korea Southern Power Co Ltd		0.750		01/27/26		2,381,622
	7,275,000		MidAmerican Energy Co		3.650		04/15/29		7,477,620
	2,175,000		MidAmerican Energy Co		3.650		08/01/48		2,154,958
	2,000,000	g	Nemak SAB de C.V.		3.625		06/28/31		1,745,320
	1,650,000		Nevada Power Co		2.400		05/01/30		1,549,987
	4,320,000		NextEra Energy Capital Holdings, Inc		2.250		06/01/30		3,954,325
	15,720,000		NiSource, Inc		1.700		02/15/31		13,334,286
	2,845,000	g	NRG Energy, Inc		2.450		12/02/27		2,623,954
	1,250,000		NRG Energy, Inc		5.750		01/15/28		1,270,506
	2,000,000		NSTAR Electric Co		3.200		05/15/27		2,002,413
	850,000		NSTAR Electric Co		3.950		04/01/30		882,290
	2,175,000		Ohio Power Co		4.150		04/01/48		2,197,941
	2,175,000		Ohio Power Co		4.000		06/01/49		2,166,939
	150,000		Oncor Electric Delivery Co LLC		7.250		01/15/33		197,316
	2,940,000		PacifiCorp		2.700		09/15/30		2,799,685
	2,915,000		PacifiCorp		2.900		06/15/52		2,546,856
	350,000	g	Pattern Energy Operations LP		4.500		08/15/28		344,334

183

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	1,375,000		PECO Energy Co		3.000	%	09/15/49	$	1,236,254
	1,000,000		PECO Energy Co		2.800		06/15/50		862,272
	1,400,000	g	Perusahaan Listrik Negara PT		3.875		07/17/29		1,373,876
	2,500,000	g	Perusahaan Listrik Negara PT		3.375		02/05/30		2,337,500
	989,590	g,o	Petra Diamonds US Treasury plc		10.500		03/08/26		1,039,069
	4,150,000	†,g	Phosagro OAO Via Phosagro Bond Funding DAC		2.600		09/16/28		1,146,438
	135,000		Potomac Electric Power Co		7.900		12/15/38		193,434
	2,050,000	g	Promigas S.A. ESP		3.750		10/16/29		1,856,296
	8,425,000		Public Service Co of Colorado		1.875		06/15/31		7,487,304
	5,440,000		Public Service Co of Colorado		3.200		03/01/50		5,076,175
	3,925,000		Public Service Electric & Gas Co		3.150		01/01/50		3,637,153
	3,000,000	e,g	Rumo Luxembourg Sarl		5.250		01/10/28		2,985,000
	3,215,000	g	Saka Energi Indonesia PT		4.450		05/05/24		3,148,289
	4,000,000		Sempra Energy		4.875		N/A‡		4,020,000
	1,750,000		Southern Co		4.400		07/01/46		1,788,079
	15,000,000		Southern Co		4.000		01/15/51		14,512,500
	2,075,000		Southern Co Gas Capital Corp		3.875		11/15/25		2,111,887
	1,250,000		Southern Co Gas Capital Corp		4.400		06/01/43		1,250,440
	1,175,000		Southern Co Gas Capital Corp		3.950		10/01/46		1,109,110
	4,900,000		Southwestern Public Service Co		3.400		08/15/46		4,547,964
	1,700,000	g	Tengizchevroil Finance Co International Ltd		2.625		08/15/25		1,494,679
	4,000,000	g	TerraForm Power Operating LLC		4.750		01/15/30		3,901,200
	1,635,259	g	UEP Penonome II S.A.		6.500		10/01/38		1,553,496
	1,025,000		Virginia Electric & Power Co		2.950		11/15/26		1,012,538
	1,050,000		Virginia Electric & Power Co		3.500		03/15/27		1,067,468
	6,000,000		Virginia Electric & Power Co		3.800		04/01/28		6,141,580
	1,000,000		Wisconsin Power & Light Co		4.100		10/15/44		969,921
	470,000		Xcel Energy, Inc		4.800		09/15/41		503,340
			TOTAL UTILITIES						310,660,014
			TOTAL CORPORATE BONDS						3,964,709,877
			(Cost $4,232,894,541)
GOVERNMENT BONDS - 42.8%
AGENCY SECURITIES - 0.1%
	2,500,000		Amber Circle Funding Ltd		3.250		12/04/22		2,509,480
	3,119,000		Canal Barge Co, Inc		4.500		11/12/34		3,317,345
	5,250,000		Overseas Private Investment Corp (OPIC)		3.520		09/20/32		5,421,493
			TOTAL AGENCY SECURITIES						11,248,318
FOREIGN GOVERNMENT BONDS - 2.3%
	2,000,000	g	Abu Dhabi Government International Bond		3.125		05/03/26		2,032,520
	1,500,000	g	Abu Dhabi Government International Bond		2.500		09/30/29		1,466,900
	975,000	g	African Export-Import Bank		2.634		05/17/26		905,381
	3,325,000	g	Arab Petroleum Investments Corp		4.125		09/18/23		3,395,087
INR	140,000,000		Asian Development Bank		6.200		10/06/26		1,812,286
$	4,465,000	g	Banque Ouest Africaine de Developpement		4.700		10/22/31		4,401,662
EUR	2,100,000	g	Banque Ouest Africaine de Developpement		2.750		01/22/33		2,137,170
$	628,900	g	Barbados Government International Bond		6.500		10/01/29		602,650
	3,450,000	g	Bermuda Government International Bond		3.717		01/25/27		3,497,437
	750,000	g	Bermuda Government International Bond		4.750		02/15/29		804,825
	3,000,000	g	BNG Bank NV		3.000		09/20/23		3,031,054

184

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	1,245,000	g	Brazil Minas SPE via State of Minas Gerais		5.333	%	02/15/28	$	1,257,462
	735,000		Brazilian Government International Bond		4.625		01/13/28		736,646
	2,445,000		Brazilian Government International Bond		3.875		06/12/30		2,254,046
	725,000		Brazilian Government International Bond		5.625		02/21/47		685,045
	2,000,000		Brazilian Government International Bond		4.750		01/14/50		1,674,480
	1,825,000		Chile Government International Bond		2.750		01/31/27		1,784,157
	5,950,000	e	Chile Government International Bond		2.550		01/27/32		5,590,739
	990,000		Chile Government International Bond		3.100		05/07/41		870,962
CNY	16,600,000		China Government Bond		2.880		11/05/23		2,640,375
	5,000,000		China Government Bond		3.270		11/19/30		812,370
	3,300,000		China Government Bond		3.810		09/14/50		555,623
$	4,745,000		Colombia Government International Bond		3.000		01/30/30		4,084,591
	4,275,000		Colombia Government International Bond		3.250		04/22/32		3,569,069
	1,300,000	e	Colombia Government International Bond		5.000		06/15/45		1,094,093
COP	3,460,000,000		Colombian TES		6.000		04/28/28		774,375
$	3,000,000	g	Corp Financiera de Desarrollo S.A.		2.400		09/28/27		2,756,250
	3,460,000	g	Costa Rica Government International Bond		5.625		04/30/43		3,027,535
	1,750,000	g	Development Bank of Japan, Inc		0.500		03/04/24		1,684,476
DOP	90,000,000	g	Dominican Republic Government International Bond		9.750		06/05/26		1,670,786
	120,000,000	g	Dominican Republic Government International Bond		12.000		03/05/32		2,619,784
$	2,250,000	g	Dominican Republic Government International Bond		4.875		09/23/32		2,036,273
	3,725,000	g	Dominican Republic Government International Bond		6.500		02/15/48		3,538,787
	1,295,000	g	Dominican Republic International Bond		5.500		02/22/29		1,278,813
	990,000	g	Dominican Republic International Bond		5.300		01/21/41		858,835
	143,196	g	Ecuador Government International Bond		0.000		07/31/30		79,475
	857,325	g	Ecuador Government International Bond (Step Bond)		5.000		07/31/30		715,875
	956,102	g	Ecuador Government International Bond (Step Bond)		1.000		07/31/35		625,300
	1,150,000	g	Egypt Government International Bond		7.600		03/01/29		1,090,430
EUR	3,000,000	g	Egypt Government International Bond		5.625		04/16/30		2,785,758
$	1,500,000	g	Egypt Government International Bond		7.053		01/15/32		1,316,838
	1,050,000	g	Egypt Government International Bond		8.500		01/31/47		893,235
	1,875,000	g	Egypt Government International Bond		8.875		05/29/50		1,619,062
	450,000	g	El Salvador Government International Bond		6.375		01/18/27		220,505
	1,200,000	g	El Salvador Government International Bond		7.625		02/01/41		552,012
	1,070,000	g	El Salvador Government International Bond		7.125		01/20/50		476,161
	395,000		European Investment Bank		4.875		02/15/36		495,679
	4,400,000	g	Export-Import Bank of India		3.875		02/01/28		4,350,087
	1,900,000	g	Export-Import Bank of India		2.250		01/13/31		1,635,768
	2,200,000		Export-Import Bank of Korea		0.750		09/21/25		2,039,630
	3,200,000		Export-Import Bank of Korea		1.250		09/21/30		2,786,400
	950,000	g	Ghana Government International Bond		8.125		03/26/32		684,000
	1,500,000	g	Ghana Government International Bond		8.627		06/16/49		1,042,500
	1,700,000	g	Guatemala Government Bond		3.700		10/07/33		1,572,517
	245,000	g	Guatemala Government International Bond		6.125		06/01/50		257,252
EUR	1,750,000	g	Hellenic Republic Government International Bond		1.875		07/23/26		1,953,154
$	1,350,000	g	Honduras Government International Bond		6.250		01/19/27		1,282,514
	575,000	g	Hungary Government International Bond		2.125		09/22/31		518,861
	1,775,000		Indonesia Government International Bond		3.550		03/31/32		1,822,667
IDR	28,000,000,000		Indonesia Treasury Bond		7.000		09/15/30		1,984,613
	25,500,000,000		Indonesia Treasury Bond		7.500		08/15/32		1,845,971
$	1,747,500	g	Iraq Government International Bond		5.800		01/15/28		1,701,676
	3,100,000		Israel Government International Bond		3.250		01/17/28		3,183,231
EUR	125,000	g	Ivory Coast Government International Bond		4.875		01/30/32		121,310

185

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	770,000	g	Ivory Coast Government International Bond		6.125	%	06/15/33	$	743,681
	1,149,654	g	Ivory Coast Government International Bond (Step Bond)		5.750		12/31/32		1,124,576
	710,000		Jamaica Government International Bond		6.750		04/28/28		781,000
	3,050,000		Jamaica Government International Bond		7.875		07/28/45		3,934,531
	1,500,000	g	Japan Finance Organization for Municipalities		3.000		03/12/24		1,511,012
	1,750,000	g	Jordan Government International Bond		4.950		07/07/25		1,740,466
	2,060,000	g	Jordan Government International Bond		5.850		07/07/30		1,914,740
	1,375,000	g	Kenya Government International Bond		7.000		05/22/27		1,320,740
	1,000,000	g	Kenya Government International Bond		8.000		05/22/32		969,421
	1,490,000	g	Kenya Government International Bond		6.300		01/23/34		1,273,011
	2,000,000	g	Kommunalbanken AS.		1.125		06/14/30		1,779,619
	3,175,000	g	Korea Electric Power Corp		1.125		06/15/25		2,979,198
	1,700,000	g	Korea Housing Finance Corp		3.000		10/31/22		1,705,474
	3,000,000	g	Korea Hydro & Nuclear Power Co Ltd		1.250		04/27/26		2,791,788
MYR	7,600,000		Malaysia Government Bond		3.828		07/05/34		1,733,444
MXN	27,200,000		Mexican Bonos		5.750		03/05/26		1,243,733
	24,500,000		Mexican Bonos		8.500		11/18/38		1,250,239
$	2,200,000		Mexico Government International Bond		4.150		03/28/27		2,312,178
	900,000	e	Mexico Government International Bond		3.250		04/16/30		866,313
	3,424,000		Mexico Government International Bond		6.050		01/11/40		3,877,372
	4,000,000		Mexico Government International Bond		4.280		08/14/41		3,728,680
	2,025,000		Mexico Government International Bond		4.750		03/08/44		1,989,806
	500,000	g	Mongolia Government International Bond		5.125		04/07/26		490,841
	1,710,000	g	Mongolia Government International Bond		4.450		07/07/31		1,535,981
	1,760,000	g	Morocco Government International Bond		3.000		12/15/32		1,523,411
	2,825,000	g	Morocco Government International Bond		5.500		12/11/42		2,766,754
	525,000	g	Morocco Government International Bond		4.000		12/15/50		420,065
	2,500,000	g	Namibia Government International Bond		5.250		10/29/25		2,510,331
	425,000	g	Nigeria Government International Bond		6.500		11/28/27		403,056
	1,000,000	e,g,k	Nigeria Government International Bond		8.375		03/24/29		1,009,640
	345,000	g	Nigeria Government International Bond		7.875		02/16/32		325,986
	400,000	g	Oman Government International Bond		6.750		10/28/27		434,152
	2,090,000	g	Oman Government International Bond		6.000		08/01/29		2,174,461
	1,500,000	e,g	Oman Government International Bond		6.250		01/25/31		1,586,065
	400,000	e,g	Oman Sovereign Sukuk Co		4.875		06/15/30		416,634
	1,500,000	e,g	Pakistan Global Sukuk Programme Co Ltd		7.950		01/31/29		1,398,810
	970,000	g	Pakistan Government International Bond		6.875		12/05/27		762,905
	2,645,000		Panama Bonos del Tesoro		3.362		06/30/31		2,486,300
	3,225,000		Panama Notas del Tesoro		3.750		04/17/26		3,236,287
	475,000	g	Paraguay Government International Bond		4.700		03/27/27		494,000
	1,275,000	g	Paraguay Government International Bond		5.400		03/30/50		1,290,938
	1,150,000	g	Perusahaan Penerbit SBSN Indonesia III		4.400		03/01/28		1,235,100
	1,435,000	e,g	Perusahaan Penerbit SBSN Indonesia III		2.550		06/09/31		1,368,990
	1,315,000		Peruvian Government International Bond		3.000		01/15/34		1,225,790
	1,320,000	k	Philippine Government International Bond		4.200		03/29/47		1,377,283
	620,000		Province of Quebec Canada		7.500		09/15/29		810,599
	1,500,000	g	Provincia de Mendoza Argentina (Step Bond)		4.250		03/19/29		993,750
	450,000	g	Qatar Government International Bond		3.400		04/16/25		458,062
	2,200,000	g	Qatar Government International Bond		3.750		04/16/30		2,317,259
	2,300,000	g	Qatar Government International Bond		4.400		04/16/50		2,585,422
	475,000	g	Republic of Azerbaijan Government International Bond		5.125		09/01/29		486,166
GHS	14,700,000		Republic of Ghana Government Bonds		16.500		02/06/23		1,940,603
$	5,000,000		Republic of Italy Government International Bond		4.000		10/17/49		4,797,290
	2,200,000	g	Republic of Paraguay		6.100		08/11/44		2,433,222

186

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
UZS	7,990,000,000	g	Republic of Uzbekistan Bond			14.500	%	11/25/23	$	640,094
$	410,000	g	Republic of Uzbekistan Government International Bond			5.375		02/20/29		409,368
	2,150,000	g	Republic of Uzbekistan International Bond			4.750		02/20/24		2,148,766
UZS	7,600,000,000	g	Republic of Uzbekistan International Bond			14.000		07/19/24		580,408
$	2,000,000	g	Romanian Government International Bond			3.000		02/14/31		1,844,257
	1,425,000	g	Romanian Government International Bond			4.000		02/14/51		1,232,481
RUB	147,000,000	†	Russian Federal Bond-OFZ			6.000		10/06/27		54,277
$	1,600,000	†,g	Russian Foreign Bond - Eurobond			5.100		03/28/35		256,000
	3,825,000	g	Rwanda International Government Bond			5.500		08/09/31		3,486,277
	2,900,000	g	Saudi Government International Bond			4.500		04/17/30		3,170,614
	2,810,000	g	Saudi Government International Bond			3.750		01/21/55		2,703,850
	1,225,000	e,g	Serbia International Bond			2.125		12/01/30		1,022,435
RSD	290,000,000		Serbia Treasury Bonds			5.875		02/08/28		2,721,951
$	2,000,000		South Africa Government International Bond			5.875		09/16/25		2,114,434
ZAR	22,300,000		South Africa Government International Bond			7.000		02/28/31		1,271,952
	23,400,000		South Africa Government International Bond			8.750		01/31/44		1,347,666
$	2,895,000		South Africa Government International Bond			5.375		07/24/44		2,548,939
	2,900,000	g	Southern Gas Corridor CJSC			6.875		03/24/26		3,161,545
	1,110,000		State of Israel			3.800		05/13/60		1,109,896
THB	24,600,000		Thailand Government International Bond			2.875		12/17/28		771,163
	24,500,000		Thailand Government International Bond			3.300		06/17/38		740,008
$	3,000,000	g	Turkiye Ihracat Kredi Bankasi AS.			5.750		07/06/26		2,738,025
	1,225,000	g	Ukraine Government International Bond			9.750		11/01/28		514,500
EUR	850,000	g	Ukraine Government International Bond			4.375		01/27/30		385,528
UYU	98,000,000	g	Uruguay Government International Bond			9.875		06/20/22		2,391,295
$	150,000		Uruguay Government International Bond			4.375		01/23/31		163,454
	575,000		Uruguay Government International Bond			4.125		11/20/45		622,633
	1,200,000	g	Zambia Government International Bond			8.500		04/14/24		866,736
			TOTAL FOREIGN GOVERNMENT BONDS							241,480,752
MORTGAGE BACKED - 18.2%
	4,335,000	g,i	Angel Oak Mortgage Trust			2.837		11/25/66		4,045,771
	12,030,000	g,i	Connecticut Avenue Securities Trust			1.999		12/25/41		11,472,596
	5,000,000	g,i	Connecticut Avenue Securities Trust			4.599		01/25/42		4,718,137
	17		Federal Home Loan Mortgage Corp (FHLMC)			6.000		05/15/22		17
	2,460,671	i	FHLMC	LIBOR 1 M + 5.920%		5.523		03/15/44		341,186
	8,036,054		FHLMC			4.000		10/01/47		8,336,135
	3,767,523	i	FHLMC	LIBOR 1 M + 9.920%		9.285		06/15/48		4,160,481
	18,037		FHLMC			4.000		07/01/48		18,700
	4,068,450	i	FHLMC	LIBOR 1 M + 9.840%		9.205		10/15/48		4,389,953
	22,557,923		FHLMC			4.000		09/01/49		23,374,344
	12,553,383		FHLMC			2.000		09/25/50		1,453,475
	18,191,052		FHLMC			2.500		11/25/50		3,051,478
	24,102,304		FHLMC			2.500		02/25/51		4,204,090
	6,807,255		FHLMC			3.000		09/01/51		6,783,229
	27,385,091		FHLMC			3.000		11/01/51		27,105,530
	4,937,431		FHLMC			3.000		11/01/51		4,870,629
	2,617,136		FHLMC			3.000		11/01/51		2,601,736
	3,935,749		FHLMC			3.000		11/01/51		3,895,571
	37,182,454	h	FHLMC			2.000		02/01/52		34,592,117

187

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	41,228,160	h	FHLMC			2.500	%	02/01/52	$	39,408,085
	34,480,000	h	FHLMC			2.500		03/01/52		33,010,337
	45,100,000	h	FHLMC			2.500		03/01/52		43,097,359
	259		Federal Home Loan Mortgage Corp Gold (FGLMC)			8.000		01/01/31		263
	7,047		FGLMC			8.000		09/01/31		7,558
	65,542		FGLMC			7.000		12/01/31		70,382
	42,459		FGLMC			4.500		07/01/33		45,208
	308,282		FGLMC			7.000		12/01/33		336,466
	94,290		FGLMC			4.500		04/01/35		100,372
	87,590		FGLMC			7.000		05/01/35		94,741
	1,679,464		FGLMC			5.000		06/01/36		1,817,683
	64,025		FGLMC			5.000		07/01/39		69,362
	1,434,436		FGLMC			5.000		08/01/44		1,552,231
	93,943		FGLMC			4.500		11/01/44		99,948
	122,045		FGLMC			4.500		11/01/44		128,871
	102,349		FGLMC			4.500		12/01/44		109,024
	66,906		FGLMC			4.500		12/01/44		70,091
	611,602		FGLMC			3.500		04/01/45		624,033
	13,139,489		FGLMC			3.500		08/01/45		13,406,558
	14,113,726		FGLMC			3.500		10/01/45		14,394,543
	2,869,871		FGLMC			4.000		12/01/45		3,004,056
	17,010,469		FGLMC			3.500		08/01/46		17,341,727
	4,724,457		FGLMC			4.500		06/01/47		5,040,587
	4,049,297		FGLMC			4.000		09/01/47		4,228,503
	4,260,202		FGLMC			3.500		12/01/47		4,330,029
	2,047,721		FGLMC			4.000		07/01/48		2,124,581
	10,439,689		FGLMC			4.500		08/01/48		11,016,887
	73		Federal National Mortgage Association (FNMA)			8.000		07/01/24		76
	114		FNMA			7.500		01/01/29		120
	804		FNMA			7.500		03/01/31		889
	975,716		FNMA			3.500		05/01/32		1,003,557
	2,677,388		FNMA			3.000		10/01/32		2,705,263
	645,826		FNMA			3.500		11/01/32		668,971
	619,691		FNMA			5.000		05/01/35		669,560
	481,841		FNMA			5.000		10/01/35		521,113
	247,644		FNMA			5.000		02/01/36		267,921
	81,105,000	h	FNMA			2.000		04/25/37		78,770,063
	50,405,000	h	FNMA			2.500		04/25/37		49,812,348
	24,830,000	h	FNMA			3.000		04/25/37		25,000,706
	340,182		FNMA			5.500		11/01/38		375,157
	212,942		FNMA			5.500		03/01/39		233,028
	3,508,423		FNMA			3.000		10/01/39		3,462,210
	1,656,237		FNMA			3.000		05/01/40		1,642,907
	400,270		FNMA			5.000		09/01/40		433,073
	220,918		FNMA			4.000		02/01/41		231,096
	419,587		FNMA			5.000		05/01/41		453,984
	24,492,768		FNMA			2.000		03/01/42		22,887,320
	6,127,071		FNMA			4.000		09/01/42		6,370,884
	755,385		FNMA			3.500		04/01/43		770,556
	648,722		FNMA			3.500		09/01/43		662,865
	3,027,372	i	FNMA	LIBOR 1 M + 5.950%		5.493		09/25/43		480,157
	2,016,261		FNMA			4.000		01/01/44		2,107,502

188

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	2,099,132		FNMA		4.500	%	03/01/44	$	2,241,367
	505,940		FNMA		4.500		06/01/44		538,343
	2,524,608		FNMA		4.500		06/01/44		2,684,790
	465,360		FNMA		3.500		07/01/44		474,647
	1,574,738		FNMA		4.500		08/01/44		1,675,649
	2,116,329		FNMA		4.500		10/01/44		2,250,046
	1,494,017		FNMA		4.500		11/01/44		1,584,335
	1,404,321		FNMA		5.000		11/01/44		1,518,806
	393,952		FNMA		4.500		12/01/44		417,902
	1,358,963		FNMA		4.000		01/01/45		1,415,013
	1,559,345		FNMA		3.500		05/01/45		1,587,218
	2,366,849		FNMA		4.000		06/01/45		2,474,444
	3,267,065		FNMA		4.000		12/01/45		3,408,329
	3,156,941		FNMA		3.500		01/01/46		3,215,987
	2,765,786		FNMA		4.000		01/01/46		2,886,077
	2,474,736		FNMA		4.000		03/01/46		2,587,357
	1,419,925		FNMA		4.000		04/01/46		1,481,598
	2,359,170		FNMA		3.500		06/01/46		2,400,705
	4,971,627		FNMA		3.500		07/01/46		5,064,625
	11,129,894		FNMA		3.500		07/01/46		11,351,753
	1,765,621		FNMA		3.000		10/01/46		1,715,122
	1,495,296		FNMA		3.500		10/01/46		1,520,940
	2,494,761		FNMA		4.500		05/01/47		2,652,276
	6,312,418		FNMA		4.000		09/01/47		6,512,407
	11,487,009		FNMA		4.000		09/01/47		11,834,904
	782,914		FNMA		3.000		11/01/47		760,860
	5,401,426		FNMA		3.500		11/01/47		5,508,864
	14,267,924		FNMA		4.000		12/01/47		14,767,793
	327,722		FNMA		4.000		12/01/47		337,804
	7,460,349		FNMA		3.500		01/01/48		7,570,507
	2,892,716		FNMA		4.500		01/01/48		3,050,118
	1,202,058		FNMA		4.500		02/01/48		1,267,437
	2,222,088		FNMA		4.000		03/01/48		2,304,717
	4,823,088		FNMA		4.500		03/01/48		5,085,184
	2,026,354		FNMA		4.500		05/01/48		2,136,585
	1,610,662		FNMA		4.500		05/01/48		1,698,275
	3,025,782		FNMA		4.000		06/01/48		3,101,864
	2,249,976		FNMA		5.000		08/01/48		2,410,692
	27,603		FNMA		3.000		05/01/49		26,796
	232,911		FNMA		3.000		06/01/49		225,995
	4,368,047		FNMA		4.500		06/01/49		4,559,873
	19,982,672		FNMA		3.000		07/01/50		19,675,388
	7,469,960		FNMA		2.000		08/25/50		982,637
	21,724,883		FNMA		2.500		11/25/50		3,159,389
	7,215,665		FNMA		3.000		02/25/51		1,306,079
	86,047,097		FNMA		2.000		04/01/51		80,077,261
	6,896,895		FNMA		3.500		08/01/51		6,964,864
	5,155,317		FNMA		3.000		09/01/51		5,081,862
	11,020,345		FNMA		2.500		11/25/51		1,585,493
	44,942,027	h	FNMA		2.000		12/01/51		41,780,148
	48,731,203	h	FNMA		2.500		01/01/52		46,567,353
	35,230,027	h	FNMA		2.000		02/01/52		32,775,598
	29,538,137	h	FNMA		2.500		02/01/52		28,279,089

189

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	61,991,363	h	FNMA		2.500	%	02/01/52	$	59,238,572
	37,026,626	h	FNMA		2.500		02/01/52		35,415,425
	30,889,227	h	FNMA		2.500		02/01/52		29,511,401
	2,968,972		FNMA		3.000		02/01/52		2,907,814
	12,007,533		FNMA		3.500		02/01/52		12,148,680
	18,526,758	h	FNMA		2.000		03/01/52		17,224,536
	17,550,105	h	FNMA		2.000		03/01/52		16,316,536
	2,639,177		FNMA		3.000		03/01/52		2,584,536
	29,260,000	h	FNMA		2.500		04/01/52		27,960,676
	29,270,000	h	FNMA		2.000		04/25/52		27,169,649
	34,474,000	h	FNMA		2.500		04/25/52		32,890,351
	232,150,000	h	FNMA		3.000		04/25/52		227,071,719
	16,930,000	h	FNMA		3.500		04/25/52		16,959,098
	25,500,000	h	FNMA		4.000		04/25/52		26,025,937
	37,240,000	h	FNMA		3.500		05/25/52		37,175,568
	4,250,000	g,i	Freddie Mac STACR REMIC Trust		3.499		10/25/41		3,920,896
	3,831,000	g,i	Freddie Mac STACR REMIC Trust		3.550		03/25/42		3,900,545
	1,940,000	g,i	Freddie Mac Structured Agency Credit Risk Debt Notes		2.399		08/25/33		1,912,363
	7,070,000	g,i	Freddie Mac Structured Agency Credit Risk Debt Notes		3.700		11/25/41		6,693,334
	26,600,000	g,i	Freddie Mac Structured Agency Credit Risk Debt Notes		2.499		02/25/42		25,882,098
	29,059		Government National Mortgage Association (GNMA)		6.500		11/20/38		32,362
	257,378		GNMA		5.000		06/15/39		282,561
	959,304		GNMA		4.500		12/20/45		1,031,840
	2,129,617		GNMA		4.000		06/20/46		267,752
	39,685,000	h	GNMA		2.000		04/20/52		37,750,356
	101,865,000	h	GNMA		2.500		04/20/52		98,797,112
	93,545,000	h	GNMA		3.000		04/20/52		92,445,116
	9,291,189	g,i	GS Mortgage-Backed Securities Trust		2.500		03/25/52		8,476,120
	9,750,062	g,i	GS Mortgage-Backed Securities Trust		2.500		03/25/52		9,298,411
	9,285,386	g,i	GS Mortgage-Backed Securities Trust		2.500		05/01/52		8,912,160
	8,960,000	†,g,i	GS MortSecurities Trust		3.000		08/26/52		8,328,600
	7,800,000	g,i	J.P. Morgan Mortgage Trust		3.000		09/25/52		7,297,570
	14,106,983	g,i	JP Morgan Mortgage Trust		2.500		07/25/52		12,922,222
	24,509,537	g,i	JP Morgan Mortgage Trust		3.250		07/25/52		23,499,673
	15,465,000	g,i	JP Morgan Mortgage Trust		3.000		08/25/52		14,449,505
	15,552,714	g,i	RCKT Mortgage Trust		2.500		02/25/52		14,205,460
			TOTAL MORTGAGE BACKED						1,893,925,705
MUNICIPAL BONDS - 1.4%
	5,440,000		Alabama Economic Settlement Authority		3.163		09/15/25		5,458,246
	990,000		Chicago Housing Authority		3.682		01/01/25		1,005,914
	380,000		City & County of San Francisco CA Community Facilities District		3.028		09/01/23		382,267
	550,000		City & County of San Francisco CA Community Facilities District		4.038		09/01/34		562,375
	4,945,000		City of New York NY		3.200		12/01/26		4,994,830
	2,215,000		Commonwealth Financing Authority		3.864		06/01/38		2,292,559
	1,500,000		County of Miami-Dade FL Aviation Revenue		2.218		10/01/22		1,505,801
	2,500,000		County of Miami-Dade FL Aviation Revenue		3.285		10/01/23		2,530,690
	3,500,000		County of Miami-Dade FL Aviation Revenue		2.504		10/01/24		3,468,163

190

TIAA-CREF FUNDS - Core Bond Fund

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE	VALUE
$	2,250,000	County of Miami-Dade FL Aviation Revenue		3.405	%	10/01/24	$	2,277,936
	3,500,000	County of Miami-Dade FL Aviation Revenue		2.604		10/01/25		3,442,118
	2,380,000	County of Miami-Dade FL Aviation Revenue		3.505		10/01/25		2,411,078
	2,500,000	County of Miami-Dade FL Aviation Revenue		2.704		10/01/26		2,453,290
	2,000,000	County of Miami-Dade FL Aviation Revenue		3.049		10/01/26		1,991,319
	3,750,000	County of Miami-Dade FL Aviation Revenue		3.612		10/01/26		3,821,500
	470,000	County of Miami-Dade FL Aviation Revenue		4.280		10/01/41		483,500
	4,265,000	Denver City & County School District No. 1		3.598		12/15/27		4,439,918
	1,000,000	Los Angeles County Redevelopment Agency		2.000		09/01/22		1,003,683
	4,805,000	Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy		3.375		09/01/35		4,950,222
	6,650,000	Michigan Finance Authority		2.988		09/01/49		6,816,362
	3,400,000	New Jersey Economic Development Authority		7.425		02/15/29		3,995,491
	4,075,000	New York State Dormitory Authority		4.294		07/01/44		4,268,556
	810,000	Oklahoma City Economic Development Trust		3.440		09/01/24		823,481
	2,000,000	Port of Seattle WA		3.471		05/01/31		2,013,042
	1,625,000	Port of Seattle WA		3.571		05/01/32		1,640,293
	1,000,000	Regents of the University of California Medical Center Pooled Revenue		2.037		05/15/23		1,000,672
	1,000,000	Regents of the University of California Medical Center Pooled Revenue		2.259		05/15/24		991,911
	1,250,000	Regents of the University of California Medical Center Pooled Revenue		2.359		05/15/25		1,233,132
	1,785,000	Regents of the University of California Medical Center Pooled Revenue		2.459		05/15/26		1,751,259
	1,600,000	Regents of the University of California Medical Center Pooled Revenue		2.559		05/15/27		1,565,902
	3,980,000	Rhode Island Convention Center Authority		3.195		05/15/26		3,988,316
	875,000	San Francisco City & County Redevelopment Agency		3.113		08/01/22		880,264
	6,365,000	San Jose Redevelopment Agency		3.375		08/01/34		6,263,928
	660,000	Santa Ana Community Redevelopment Agency Successor Agency		3.567		09/01/23		673,054
	13,060,000	State of California		4.600		04/01/38		14,287,669
	21,060,000	State of Illinois		5.100		06/01/33		22,395,360
	9,900,000	State of Wisconsin		3.154		05/01/27		9,983,989
	1,763,000	State Public School Building Authority		5.000		09/15/27		1,914,440
	7,500,000	Texas A&M University		3.993		05/15/37		7,836,209
	2,000,000	University of California		2.439		05/15/24		1,988,323
	2,000,000	University of California		2.589		05/15/25		1,977,804
		TOTAL MUNICIPAL BONDS						147,764,866
U.S. TREASURY SECURITIES - 20.8%
	1,900,000	United States Treasury Bond		4.750		02/15/37		2,478,906
	10,875,000	United States Treasury Bond		3.500		02/15/39		12,459,521
	16,015,000	United States Treasury Bond		3.875		08/15/40		19,129,167
	2,850,000	United States Treasury Bond		1.875		02/15/41		2,537,725
	4,507,000	United States Treasury Bond		1.750		08/15/41		3,906,301
	31,830,000	United States Treasury Bond		2.000		11/15/41		28,801,177
	12,000,000	United States Treasury Bond		3.125		11/15/41		12,938,906
	94,834,100	United States Treasury Bond		2.250		02/15/42		91,470,453
	1,380,000	United States Treasury Bond		2.500		05/15/46		1,352,131
	10,450,000	United States Treasury Bond		3.000		05/15/47		11,282,734
	1,255,000	United States Treasury Bond		2.750		08/15/47		1,300,641
	42,835,000	United States Treasury Bond		2.750		11/15/47		44,444,659
	55,445,000	United States Treasury Bond		3.000		02/15/48		60,406,894
	510,000	United States Treasury Bond		3.125		05/15/48		569,407

191

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	45,841,000		United States Treasury Bond			3.375	%	11/15/48	$	53,676,946
	79,028,000		United States Treasury Bond			1.875		11/15/51		69,322,374
	254,369,000		United States Treasury Bond			2.250		02/15/52		243,955,769
	20,505,696	k	United States Treasury Inflation Indexed Bonds			0.500		04/15/24		21,551,807
	25,349,000	e,k	United States Treasury Inflation Indexed Bonds			0.125		01/15/32		26,957,572
	8,600,000		United States Treasury Note			0.125		08/31/22		8,571,445
	4,800,000		United States Treasury Note			0.125		10/31/22		4,770,375
	1,640,000		United States Treasury Note			0.125		12/31/22		1,624,113
	1,000,000		United States Treasury Note			0.125		05/31/23		979,570
	383,215,000	e	United States Treasury Note			1.500		02/29/24		377,631,439
	350,000,000		United States Treasury Note			0.250		03/15/24		336,218,750
	1,745,000		United States Treasury Note			1.750		03/15/25		1,708,055
	18,100,000		United States Treasury Note			0.875		06/30/26		16,905,117
	40,000,000		United States Treasury Note			0.875		09/30/26		37,232,812
	173,795,000		United States Treasury Note			1.250		12/31/26		164,202,331
	268,315,000		United States Treasury Note			1.875		02/28/27		261,124,995
	675,000		United States Treasury Note			1.000		07/31/28		617,651
	218,000		United States Treasury Note			1.125		08/31/28		200,850
	7,225,000		United States Treasury Note			1.375		10/31/28		6,754,246
	135,250,000		United States Treasury Note			1.875		02/28/29		130,558,516
	6,275,000		United States Treasury Note			1.250		08/15/31		5,704,367
	104,636,000		United States Treasury Note			1.875		02/15/32		100,483,259
			TOTAL U.S. TREASURY SECURITIES							2,163,830,981
			TOTAL GOVERNMENT BONDS							4,458,250,622
			(Cost $4,543,466,783)
STRUCTURED ASSETS - 14.6%
ASSET BACKED - 6.1%
	950,000	g	Affirm Asset Securitization Trust			1.660		08/15/25		941,284
			Series - 2021 A (Class C)
	3,375,000	g,i	AIMCO CLO 16 Ltd	LIBOR 3 M + 1.650%		1.895		01/17/35		3,327,534
			Series - 2021 16A (Class B)
	10,000,000	g,i	AIMCO CLO Series	LIBOR 3 M + 1.050%		1.304		04/20/34		9,894,040
			Series - 2017 AA (Class AR)
	10,000,000	g,i	AIMCO CLO Series	LIBOR 3 M + 1.500%		1.754		04/20/34		9,799,470
			Series - 2017 AA (Class BR)
	284,178		American Airlines Pass Through Trust			3.575		01/15/28		270,002
			Series - 2016 1 (Class AA)
	1,000,000		AmeriCredit Automobile Receivables Trust			2.130		03/18/26		977,309
			Series - 2020 2 (Class D)
	17,000,000		AmeriCredit Automobile Receivables Trust			1.210		12/18/26		16,064,777
			Series - 2021 1 (Class D)
	1,233,816	g	AMSR Trust			1.819		04/17/37		1,170,111
			Series - 2020 SFR1 (Class A)
	2,000,000	g	AMSR Trust			3.148		01/19/39		1,916,023
			Series - 2019 SFR1 (Class C)
	1,865,000	g	AMSR Trust			3.247		01/19/39		1,765,969
			Series - 2019 SFR1 (Class D)

192

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	8,155,764	g	Apollo aviation securitization			2.798	%	01/15/47	$	7,502,552
			Series - 2021 2A (Class A)
	2,722,500	g	Applebee’s Funding LLC			4.194		06/05/49		2,701,779
			Series - 2019 1A (Class A2I)
	55,677	†,g	Asset Backed Funding Corp NIM Trust			5.900		07/26/35		1
			Series - 2005 WMC1 (Class N1)
	6,000,000	g	Avis Budget Rental Car Funding AESOP LLC			3.070		09/20/23		6,017,980
			Series - 2017 1A (Class A)
	8,500,000	g	Avis Budget Rental Car Funding AESOP LLC			2.970		03/20/24		8,531,351
			Series - 2017 2A (Class A)
	1,181,200	g	Avis Budget Rental Car Funding AESOP LLC			2.020		02/20/27		1,119,242
			Series - 2020 2A (Class A)
	6,800,000	g	Avis Budget Rental Car Funding AESOP LLC			1.630		08/20/27		6,203,538
			Series - 2021 1A (Class B)
	3,100,000	g	Avis Budget Rental Car Funding AESOP LLC			2.130		08/20/27		2,824,067
			Series - 2021 1A (Class C)
	1,500,000	g,i	Bonanza RE Ltd	U.S. Treasury Bill 3 M + 4.750%		5.258		12/23/24		1,499,100
			Series - 2020 A (Class )
	1,184,114	g	BRE Grand Islander Timeshare Issuer LLC			3.280		09/26/33		1,168,263
			Series - 2019 A (Class A)
	1,747,133	g	British Airways Pass Through Trust			3.800		09/20/31		1,723,133
			Series - 2018 1 (Class AA)
	5,425,060	g	Capital Automotive REIT			2.690		02/15/50		5,303,384
			Series - 2020 1A (Class A1)
	3,957,902	g	Capital Automotive REIT			1.440		08/15/51		3,695,761
			Series - 2021 1A (Class A1)
	8,400,000	g	Capital Automotive REIT			1.920		08/15/51		7,827,757
			Series - 2021 1A (Class A3)
	1,075,000		CarMax Auto Owner Trust			1.280		07/15/27		1,003,172
			Series - 2021 1 (Class D)
	5,826,250	g	Cars Net Lease Mortgage Notes Series			2.010		12/15/50		5,399,311
			Series - 2020 1A (Class A1)
	9,937,500	g	Cars Net Lease Mortgage Notes Series			3.100		12/15/50		9,382,121
			Series - 2020 1A (Class A3)
	2,500,000		Carvana Auto Receivables Trust			1.270		03/10/28		2,416,881
			Series - 2021 N2 (Class D)
	9,150,000		Carvana Auto Receivables Trust			1.720		09/11/28		8,887,705
			Series - 2021 N4 (Class C)
	3,340,000	g	Carvana Auto Receivables Trust			4.130		12/11/28		3,307,289
			Series - 2022 N1 (Class D)
	4,150,000	g,i	Cayuga Park CLO Ltd	LIBOR 3 M + 1.650%		1.000		07/17/34		4,109,255
			Series - 2020 1A (Class B1R)
	353,947	i	C-BASS Trust	LIBOR 1 M + 0.160%		0.617		07/25/36		342,963
			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)
	8,974,909	g	CF Hippolyta LLC			1.690		07/15/60		8,480,838
			Series - 2020 1 (Class A1)

193

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	2,715,659	g	CF Hippolyta LLC			1.990	%	07/15/60	$	2,495,591
			Series - 2020 1 (Class A2)
	1,841,007	g	CF Hippolyta LLC			2.280		07/15/60		1,736,250
			Series - 2020 1 (Class B1)
	7,105,000		Chase Issuance Trust			1.530		01/15/25		7,089,690
			Series - 2020 A1 (Class A1)
	1,500,000	g,i	CIFC Funding Ltd	LIBOR 3 M + 1.220%		1.474		07/20/30		1,495,911
			Series - 2017 3A (Class A1)
	5,855,000	g,i	CIFC Funding Ltd	LIBOR 3 M + 1.600%		1.854		10/20/34		5,794,512
			Series - 2020 2A (Class BR)
	2,175,000	g,i	CIFC Funding Ltd	LIBOR 3 M + 2.050%		2.304		10/20/34		2,158,881
			Series - 2020 2A (Class CR)
	5,625,000	g,i	CIFC Funding Ltd	LIBOR 3 M + 1.650%		1.891		07/15/36		5,583,043
			Series - 2020 1A (Class BR)
	2,000,000	g,i	CIFC Funding Ltd	LIBOR 3 M + 2.000%		2.241		07/15/36		1,975,454
			Series - 2020 1A (Class CR)
	18,949		CIT Group Home Equity Loan Trust (Step Bond)			6.200		02/25/30		18,754
			Series - 2002 1 (Class AF6)
	11,450,000	g	Cologix Data Centers US Issuer LLC			3.300		12/26/51		11,020,357
			Series - 2021 1A (Class A2)
	3,950,000	g	COMM Mortgage Trust			2.500		08/15/57		3,046,033
			Series - 2019 GC44 (Class D)
	954,941	g	Corevest American Finance Trust			1.832		03/15/50		913,454
			Series - 2020 1 (Class A1)
	1,096,875	g	DB Master Finance LLC			4.352		05/20/49		1,095,878
			Series - 2019 1A (Class A23)
	16,957,500	g	DB Master Finance LLC			2.045		11/20/51		15,470,938
			Series - 2021 1A (Class A2I)
	13,366,500	g	DB Master Finance LLC			2.493		11/20/51		12,050,194
			Series - 2021 1A (Class A2II)
	1,305,111	g	Diamond Resorts Owner Trust			2.890		02/20/32		1,292,973
			Series - 2019 1A (Class A)
	3,667,859	g	Diamond Resorts Owner Trust			2.050		11/21/33		3,519,309
			Series - 2021 1A (Class B)
	3,300,000	i	Discover Card Execution Note Trust	LIBOR 1 M + 0.360%		0.757		10/15/22		3,302,550
			Series - 2017 A7 (Class A7)
	2,558,250	g	Domino’s Pizza Master Issuer LLC			4.474		10/25/45		2,578,933
			Series - 2015 1A (Class A2II)
	2,322,000	g	Domino’s Pizza Master Issuer LLC			4.116		07/25/48		2,332,937
			Series - 2018 1A (Class A2I)
	13,845,375	g	Domino’s Pizza Master Issuer LLC			2.662		04/25/51		12,836,283
			Series - 2021 1A (Class A2I)
	3,800,000	g,i	Dryden 49 Senior Loan Fund	LIBOR 3 M + 1.600%		1.841		07/18/30		3,776,664
			Series - 2017 49A (Class BR)
	11,800,000	g	DT Auto Owner Trust			1.160		11/16/26		11,217,678
			Series - 2021 1A (Class D)
	1,864,570	g,i	Ellington Loan Acquisition Trust	LIBOR 1 M + 1.100%		1.557		05/25/37		1,860,281
			Series - 2007 2 (Class A2C)
	22,540,000	g	Flexential Issuer, LLC			3.250		11/27/51		21,340,543
			Series - 2021 1A (Class A2)

194

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	20,631,524	g	FNA VI LLC			1.350	%	01/10/32	$	19,691,463
			Series - 2021 1A (Class A)
	11,000,000	g,h,i	GRACIE POINT INTERNATIONAL FUNDING			0.000		04/01/24		11,006,875
			Series - 2022 1A (Class A)
	1,975,000	g	Hardee’s Funding LLC			3.981		12/20/50		1,909,957
			Series - 2020 1A (Class A2)
	868,159	g	HERO Funding Trust			3.190		09/20/48		853,823
			Series - 2017 3A (Class A1)
	312,378	g	HERO Funding Trust			3.280		09/20/48		308,017
			Series - 2017 2A (Class A1)
	1,128,607	g	HERO Funding Trust			3.950		09/20/48		1,113,648
			Series - 2017 3A (Class A2)
	624,757	g	HERO Funding Trust			4.070		09/20/48		622,993
			Series - 2017 2A (Class A2)
	11,850,000	g	Hertz Vehicle Financing LLC			1.560		12/26/25		11,225,302
			Series - 2021 1A (Class B)
	4,700,000	g	Hertz Vehicle Financing LLC			4.120		09/25/26		4,703,672
			Series - 2022 4A (Class B)
	3,700,000	g	Hertz Vehicle Financing LLC			4.610		09/25/26		3,704,191
			Series - 2022 4A (Class C)
	713,659	g	Hilton Grand Vacations Trust			2.660		12/26/28		713,024
			Series - 2017 AA (Class A)
	535,244	g	Hilton Grand Vacations Trust			2.960		12/26/28		533,567
			Series - 2017 AA (Class B)
	1,137,168	g	Hilton Grand Vacations Trust			2.340		07/25/33		1,111,482
			Series - 2019 AA (Class A)
	99,596	i	Home Equity Asset Trust	LIBOR 1 M + 1.500%		3.986		06/25/33		99,553
			Series - 2003 1 (Class M1)
	3,904,549	g	Horizon Aircraft Finance II Ltd			3.721		07/15/39		3,480,176
			Series - 2019 1 (Class A)
	4,305,260	g	Horizon Aircraft Finance III Ltd			3.425		11/15/39		3,965,618
			Series - 2019 2 (Class A)
	3,750,000	†,g	Industrial DPR Funding Ltd			5.380		04/15/34		3,750,000
			Series - 2022 1A (Class 1)
	799,963	g,i	Invitation Homes Trust	LIBOR 1 M + 1.250%		1.691		01/17/38		799,539
			Series - 2018 SFR4 (Class B)
	5,250,000	g,i	La Vie Re Ltd	LIBOR 3 M + 2.850%		2.981		10/06/23		5,145,000
			Series - 2020 A (Class )
	7,750,000	g,i	Madison Park Funding LIX Ltd	LIBOR 3 M + 2.100%		2.345		01/18/34		7,659,069
			Series - 2021 59A (Class C)
	530,000	g,i	Magnetite XVIII Ltd	LIBOR 3 M + 1.500%		2.006		11/15/28		526,290
			Series - 2016 18A (Class BR)
	2,685,555	g	MAPS Trust			2.521		06/15/46		2,483,647
			Series - 2021 1A (Class A)
	2,700,000	g,i	Massachusetts St	LIBOR 3 M + 1.650%		1.882		01/15/35		2,677,045
			Series - 2021 3A (Class B)
	1,699,447	g	MVW LLC			1.830		05/20/39		1,608,021
			Series - 2021 2A (Class B)
	3,902,514	g	MVW LLC			1.440		01/22/41		3,681,958
			Series - 2021 1WA (Class B)

195

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	2,458,584	g	MVW LLC			1.940	%	01/22/41	$	2,329,016
			Series - 2021 1WA (Class C)
	1,938,194	g	MVW Owner Trust			3.000		11/20/36		1,888,032
			Series - 2019 1A (Class B)
	2,444,242	g	Navient Private Education Refi Loan Trust			1.310		01/15/69		2,366,798
			Series - 2020 HA (Class A)
	1,794,449	g	Navient Student Loan Trust			3.390		12/15/59		1,794,567
			Series - 2019 BA (Class A2A)
	16,000,000	g,i	Neuberger Berman Loan Advisers CLO 31 Ltd	LIBOR 3 M + 1.550%		1.804		04/20/31		15,860,416
			Series - 2019 31A (Class BR)
	6,750,000	g,i	Neuberger Berman Loan Advisers Clo 40 Ltd	LIBOR 3 M + 1.400%		1.641		04/16/33		6,648,541
			Series - 2021 40A (Class B)
	5,574,684	g	Oak Street Investment Grade Net Lease Fund Series			1.480		01/20/51		5,190,604
			Series - 2021 1A (Class A1)
	4,971,451	g	Oak Street Investment Grade Net Lease Fund Series			2.380		11/20/51		4,792,445
			Series - 2021 2A (Class A1)
	5,450,000	g,i	OHA Credit Funding 10 Ltd	LIBOR 3 M + 1.650%		1.896		01/18/36		5,435,045
			Series - 2021 10A (Class B)
	9,255,000	g	OneMain Financial Issuance Trust			3.840		05/14/32		9,326,573
			Series - 2020 1A (Class A)
	10,000,000	g	OneMain Financial Issuance Trust			1.750		09/14/35		9,279,760
			Series - 2020 2A (Class A)
	7,250,000	g	Oportun Funding XIV LLC			1.210		03/08/28		7,039,063
			Series - 2021 A (Class A)
	3,515,000	g	Oportun Issuance Trust			1.960		05/08/31		3,346,779
			Series - 2021 B (Class B)
	612,689	g	Orange Lake Timeshare Trust			3.100		11/08/30		613,836
			Series - 2018 A (Class A)
	5,300,000	g	PFS Financing Corp			1.270		06/15/25		5,221,508
			Series - 2020 A (Class A)
	2,500,000	g	PFS Financing Corp			1.000		10/15/25		2,435,126
			Series - 2020 E (Class A)
	3,688,000	g	PFS Financing Corp			0.970		02/15/26		3,534,686
			Series - 2020 G (Class A)
	3,000,000	g	PFS Financing Corp			0.710		04/15/26		2,847,944
			Series - 2021 A (Class A)
	6,750,000	g	PFS Financing Corp			0.960		04/15/26		6,405,423
			Series - 2021 A (Class B)
	200,000	g	Progress Residential Trust			2.937		10/17/36		194,698
			Series - 2019 SFR4 (Class B)
	5,180,000	g	Progress Residential Trust			2.082		10/17/38		4,617,597
			Series - 2021 SFR8 (Class D)
	1,500,000	g	Progress Residential Trust			2.711		11/17/40		1,324,268
			Series - 2021 SFR9 (Class D)
	1,500,000	g	Purchasing Power Funding LLC			1.570		10/15/25		1,452,012
			Series - 2021 A (Class A)
	4,069,817	g	Renew			3.950		09/20/53		4,014,155
			Series - 2018 1 (Class A)
	6,600,000		Santander Drive Auto Receivables Trust			2.220		09/15/26		6,548,399
			Series - 2020 2 (Class D)

196

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	11,749,550	g	SERVPRO Master Issuer LLC			3.882	%	10/25/49	$	11,770,676
			Series - 2019 1A (Class A2)
	3,573,000	g	SERVPRO Master Issuer LLC			2.394		04/25/51		3,212,884
			Series - 2021 1A (Class A2)
	3,714,276	†,g	Settlement Fee Finance LLC			3.840		11/01/49		3,605,447
			Series - 2019 1A (Class A)
	1,324,044	g	Sierra Timeshare Receivables Funding LLC			3.650		06/20/35		1,320,538
			Series - 2018 2A (Class B)
	1,132,944	g	Sierra Timeshare Receivables Funding LLC			3.200		01/20/36		1,129,247
			Series - 2019 1A (Class A)
	2,512,617	g	Sierra Timeshare Receivables Funding LLC			0.990		11/20/37		2,398,610
			Series - 2021 1A (Class A)
	2,724,355	g	Sierra Timeshare Receivables Funding LLC			1.340		11/20/37		2,592,228
			Series - 2021 1A (Class B)
	1,510,394	g	Sierra Timeshare Receivables Funding LLC			1.790		11/20/37		1,451,644
			Series - 2021 1A (Class C)
	3,249,631	g	SMB Private Education Loan Trust			2.430		02/17/32		3,192,151
			Series - 2016 B (Class A2A)
	2,191,447	g	SMB Private Education Loan Trust			2.880		09/15/34		2,177,178
			Series - 2017 A (Class A2A)
	1,784,864	g	SMB Private Education Loan Trust			2.820		10/15/35		1,747,141
			Series - 2017 B (Class A2A)
	685,895	g	SoFi Professional Loan Program LLC			2.340		04/25/33		685,726
			Series - 2016 D (Class A2B)
	125,867	g	SoFi Professional Loan Program LLC			2.490		01/25/36		125,973
			Series - 2016 E (Class A2B)
	428,821	g	SoFi Professional Loan Program LLC			2.400		03/26/40		429,696
			Series - 2017 A (Class A2B)
	723,597	g	SoFi Professional Loan Program LLC			2.740		05/25/40		724,433
			Series - 2017 B (Class A2FX)
	360,472	g	SoFi Professional Loan Program LLC			2.630		07/25/40		360,376
			Series - 2017 C (Class A2B)
	781,259	g	SoFi Professional Loan Program LLC			2.720		11/26/40		782,603
			Series - 2017 E (Class A2B)
	2,066,670	g	SoFi Professional Loan Program LLC			2.840		01/25/41		2,068,514
			Series - 2017 F (Class A2FX)
	1,370,298	g	SoFi Professional Loan Program LLC			3.690		06/15/48		1,375,775
			Series - 2019 A (Class A2FX)
	1,043,416	†,g	SolarCity LMC			4.800		11/20/38		1,000,010
			Series - 2013 1 (Class A)
	13,699,600	g	Sonic Capital LLC			3.845		01/20/50		13,350,562
			Series - 2020 1A (Class A2I)
	5,821,731	g	SpringCastle America Funding LLC			1.970		09/25/37		5,606,822
			Series - 2020 AA (Class A)
	5,500,000	g	Stack Infrastructure Issuer LLC			1.893		08/25/45		5,155,880
			Series - 2020 1A (Class A2)
	175,795	i	Structured Asset Investment Loan Trust	LIBOR 1 M + 0.900%		1.357		09/25/34		173,532
			Series - 2004 8 (Class M1)
	685,220	i	Structured Asset Investment Loan Trust	LIBOR 1 M + 1.000%		1.457		09/25/34		683,587
			Series - 2004 8 (Class A9)

197

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	1,809,750	g	Taco Bell Funding LLC			4.970	%	05/25/46	$	1,840,204
			Series - 2016 1A (Class A23)
	14,371,980	g	Taco Bell Funding LLC			1.946		08/25/51		12,997,947
			Series - 2021 1A (Class A2I)
	9,815,400	g	Taco Bell Funding LLC			2.294		08/25/51		8,751,803
			Series - 2021 1A (Class A2II)
	4,000,000	g	Tesla Auto Lease Trust			0.680		12/20/23		3,973,594
			Series - 2020 A (Class A3)
	1,000,000	g	Tesla Auto Lease Trust			0.780		12/20/23		989,223
			Series - 2020 A (Class A4)
	5,250,000	g,i	TICP CLO VIII Ltd	LIBOR 3 M + 1.700%		1.907		10/20/34		5,221,041
			Series - 2017 8A (Class A2R)
	95,081	g	Tricon American Homes Trust			2.928		01/17/36		94,381
			Series - 2017 SFR2 (Class A)
	5,500,000	g	Tricon American Homes Trust			3.275		01/17/36		5,446,691
			Series - 2017 SFR2 (Class B)
	650,000	g	Tricon American Homes Trust			2.049		07/17/38		600,186
			Series - 2020 SFR1 (Class B)
	2,734,596		United Airlines Pass Through Trust			5.875		10/15/27		2,830,543
			Series - 2020 A (Class )
	3,800,000	g,i	Ursa Re II Ltd Series - 2020 A (Class )	U.S. Treasury Bill 3 M + 3.750%		4.268		12/07/23		3,786,700
	9,778,892		Verizon Owner Trust			1.850		07/22/24		9,781,697
			Series - 2020 A (Class A1A)
	6,756,731	g	Vine			2.790		11/15/50		6,348,773
			Series - 2020 1A (Class A)
	4,200,000	g,i	Vitality Re X Ltd Series - 2020 A (Class )	U.S. Treasury Bill 3 M + 1.750%		2.258		01/10/23		4,162,620
	10,083,800	g	Wendy’s Funding LLC			2.370		06/15/51		8,968,653
			Series - 2021 1A (Class A2I)
			TOTAL ASSET BACKED							632,395,607
OTHER MORTGAGE BACKED - 8.5%
	2,792,690	g,i	ACRE Commercial Mortgage Ltd Series - 2021 FL4 (Class A)	LIBOR 1 M + 0.830%		1.298		12/18/37		2,772,248
	88,804	g,i	Agate Bay Mortgage Trust			3.500		09/25/45		88,168
			Series - 2015 6 (Class A9)
	1,870,000	g	BAMLL Commercial Mortgage Securities Trust			3.490		04/14/33		1,837,202
			Series - 2015 200P (Class B)
	2,486,000		Banc of America Commercial Mortgage Trust			3.705		09/15/48		2,507,045
			Series - 2015 UBS7 (Class A4)
	1,910,000	i	Banc of America Commercial Mortgage Trust			4.359		09/15/48		1,854,234
			Series - 2015 UBS7 (Class B)
	5,874,676		Banc of America Commercial Mortgage Trust			3.366		02/15/50		5,904,485
			Series - 2017 BNK3 (Class ASB)
	5,000,000		BANK			3.731		11/15/50		5,031,196
			Series - 2017 BNK8 (Class AS)
	1,500,000	i	BANK			3.925		11/15/50		1,485,556
			Series - 2017 BNK8 (Class B)

198

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	1,000,000	i	BANK			4.069	%	11/15/50	$	967,541
			Series - 2017 BNK8 (Class C)
	3,750,000	g	BANK			2.500		10/17/52		2,991,877
			Series - 2019 BN21 (Class D)
	2,500,000		BANK			3.203		12/15/52		2,417,540
			Series - 2019 BN23 (Class AS)
	1,637,000		BANK			3.455		12/15/52		1,588,108
			Series - 2019 BN23 (Class B)
	7,500,000		BANK			3.289		07/15/60		7,506,268
			Series - 2017 BNK6 (Class ASB)
	2,000,000	i	BANK			3.283		11/15/62		1,942,946
			Series - 2019 BN24 (Class AS)
	5,488,708	g,i	Bayview MSR Opportunity Master Fund Trust			3.000		10/25/51		5,175,100
			Series - 2021 6 (Class A19)
	1,250,000	g,i	BBCMS Mortgage Trust			4.267		08/05/38		999,098
			Series - 2018 CHRS (Class E)
	2,575,000	g,i	Benchmark Mortgage Trust			2.791		09/15/48		2,435,676
			Series - 2020 IG2 (Class AM)
	2,500,000	g,i	Benchmark Mortgage Trust			3.131		09/15/48		2,394,947
			Series - 2020 IG3 (Class AS)
	2,500,000	g,i	Benchmark Mortgage Trust			3.536		09/15/48		2,396,937
			Series - 2020 IG3 (Class BXA)
	1,380,000		Benchmark Mortgage Trust			4.016		03/15/52		1,428,513
			Series - 2019 B9 (Class A5)
	550,000		Benchmark Mortgage Trust			3.419		08/15/52		539,890
			Series - 2019 B12 (Class AS)
	1,200,000	i	Benchmark Mortgage Trust			4.510		05/15/53		1,275,931
			Series - 2018 B7 (Class A4)
	5,250,000	i	Benchmark Mortgage Trust			2.244		08/15/54		4,642,961
			Series - 2021 B28 (Class B)
	9,000,000		Benchmark Mortgage Trust			2.429		08/15/54		8,150,335
			Series - 2021 B28 (Class AS)
	623,999	g,i	BX Commercial Mortgage Trust	LIBOR 1 M + 0.920%		1.317		10/15/36		621,281
			Series - 2019 XL (Class A)
	2,600,000	g	BXP Trust			3.459		08/13/37		2,584,177
			Series - 2017 CC (Class A)
	7,000,000	g,i	BXP Trust			2.775		01/15/44		5,619,240
			Series - 2021 601L (Class D)
	6,500,000	i	CD Mortgage Trust			3.879		11/10/49		6,297,826
			Series - 2016 CD2 (Class B)
	3,030,000	i	CD Mortgage Trust			3.983		11/10/49		2,790,557
			Series - 2016 CD2 (Class C)
	8,871,918		CD Mortgage Trust			3.453		02/10/50		8,905,784
			Series - 2017 CD3 (Class AAB)
	1,000,000		CD Mortgage Trust			3.833		02/10/50		998,013
			Series - 2017 CD3 (Class AS)
	2,980,000	i	CD Mortgage Trust			4.555		02/10/50		2,820,080
			Series - 2017 CD3 (Class C)
	5,000,000	i	CD Mortgage Trust			3.684		08/15/50		4,986,361
			Series - 2017 CD5 (Class AS)

199

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	3,000,000		CD Mortgage Trust			2.812	%	08/15/57	$	2,915,007
			Series - 2019 CD8 (Class ASB)
	49,401	g,i	CF Mortgage Trust			2.840		04/15/25		48,742
			Series - 2020 P1 (Class A1)
	1,750,000	g,i	CF Mortgage Trust			3.603		04/15/52		1,722,472
			Series - 2020 P1 (Class A2)
	1,175,400		CGMS Commercial Mortgage Trust			3.458		08/15/50		1,176,369
			Series - 2017 B1 (Class A4)
	106,702	i	CHL Mortgage Pass-Through Trust			2.505		02/20/35		107,366
			Series - 2004 HYB9 (Class 1A1)
	1,750,000	g,i	Citigroup Commercial Mortgage Trust			3.518		05/10/35		1,741,565
			Series - 2013 375P (Class B)
	5,000,000	g	Citigroup Commercial Mortgage Trust			3.341		05/10/36		4,978,796
			Series - 2019 PRM (Class A)
	2,000,000	g	Citigroup Commercial Mortgage Trust			3.896		05/10/36		1,977,188
			Series - 2019 PRM (Class C)
	1,000,000	g,i	Citigroup Commercial Mortgage Trust			4.483		07/10/47		956,082
			Series - 2014 GC23 (Class D)
	500,000	i	Citigroup Commercial Mortgage Trust			3.758		04/10/48		494,855
			Series - 2015 GC29 (Class B)
	1,092,803	i	Citigroup Commercial Mortgage Trust			3.720		12/10/49		1,102,280
			Series - 2016 P6 (Class A5)
	231,532	i	Citigroup Mortgage Loan Trust	LIBOR 1 M + 0.750%		1.207		01/25/36		231,190
			Series - 2006 WFH1 (Class M4)
	6,000,000	g,i	COMM Mortgage Trust			3.538		10/10/29		5,831,269
			Series - 2017 PANW (Class C)
	131,100	g	COMM Mortgage Trust			3.178		02/10/35		128,823
			Series - 2015 3BP (Class A)
	6,863,085		COMM Mortgage Trust			2.853		10/15/45		6,874,229
			Series - 2012 CR4 (Class A3)
	1,500,000	g,i	COMM Mortgage Trust			4.901		08/10/46		1,510,007
			Series - 2013 CR10 (Class C)
	1,135,000		COMM Mortgage Trust			4.199		03/10/47		1,144,610
			Series - 2014 UBS2 (Class AM)
	1,300,384		COMM Mortgage Trust			4.701		03/10/47		1,312,767
			Series - 2014 UBS2 (Class B)
	1,200,000	i	COMM Mortgage Trust			5.003		04/10/47		1,189,644
			Series - 2014 LC15 (Class C)
	750,000		COMM Mortgage Trust			4.174		05/10/47		755,848
			Series - 2014 CR17 (Class AM)
	3,500,000	i	COMM Mortgage Trust			4.738		06/10/47		3,460,596
			Series - 2014 UBS3 (Class C)
	5,150,000	g,i	COMM Mortgage Trust			4.768		06/10/47		4,777,376
			Series - 2014 UBS3 (Class D)
	6,400,000		COMM Mortgage Trust			3.917		10/10/47		6,484,312
			Series - 2014 LC17 (Class A5)
	2,000,000	i	COMM Mortgage Trust			4.188		10/10/47		2,022,258
			Series - 2014 LC17 (Class AM)
	1,127,010		COMM Mortgage Trust			3.040		02/10/48		1,132,193
			Series - 2015 LC19 (Class ASB)

200

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	2,498,000	i	COMM Mortgage Trust			3.829	%	02/10/48	$	2,467,731
			Series - 2015 LC19 (Class B)
	1,500,000	g	COMM Mortgage Trust			3.000		03/10/48		1,270,330
			Series - 2015 CR22 (Class E)
	575,000	i	COMM Mortgage Trust			3.603		03/10/48		575,231
			Series - 2015 CR22 (Class AM)
	2,000,000	g,i	COMM Mortgage Trust			4.106		03/10/48		1,880,474
			Series - 2015 CR22 (Class D)
	1,000,000	i	COMM Mortgage Trust			4.106		03/10/48		984,324
			Series - 2015 CR22 (Class C)
	5,000,000		COMM Mortgage Trust			3.801		05/10/48		5,007,842
			Series - 2015 CR23 (Class AM)
	3,936,016	i	COMM Mortgage Trust			4.183		05/10/48		3,911,909
			Series - 2015 CR23 (Class B)
	2,500,000	i	COMM Mortgage Trust			4.288		05/10/48		2,326,529
			Series - 2015 CR23 (Class D)
	1,250,000	i	COMM Mortgage Trust			4.288		05/10/48		1,230,708
			Series - 2015 CR23 (Class C)
	2,430,735		COMM Mortgage Trust			3.432		08/10/48		2,401,673
			Series - 2015 CR24 (Class A4)
	1,500,000	i	COMM Mortgage Trust			3.463		08/10/48		1,349,979
			Series - 2015 CR24 (Class D)
	3,640,000	i	COMM Mortgage Trust			4.028		08/10/48		3,669,681
			Series - 2015 CR24 (Class AM)
	1,000,000	i	COMM Mortgage Trust			4.379		08/10/48		1,004,076
			Series - 2015 CR24 (Class B)
	2,000,000	i	COMM Mortgage Trust			4.379		08/10/48		1,948,245
			Series - 2015 CR24 (Class C)
	2,250,000	i	COMM Mortgage Trust			4.530		08/10/48		2,263,194
			Series - 2015 CR25 (Class B)
	2,600,000		COMM Mortgage Trust			3.630		10/10/48		2,613,993
			Series - 2015 CR26 (Class A4)
	1,000,000		COMM Mortgage Trust			3.984		10/10/48		1,008,720
			Series - 2015 CR27 (Class AM)
	1,000,000	i	COMM Mortgage Trust			4.478		10/10/48		1,007,902
			Series - 2015 CR26 (Class B)
	500,000	i	COMM Mortgage Trust			4.478		10/10/48		493,350
			Series - 2015 CR26 (Class C)
	4,400,000	i	COMM Mortgage Trust			4.607		10/10/48		4,336,843
			Series - 2015 LC23 (Class C)
	1,080,000		COMM Mortgage Trust			3.762		02/10/49		1,093,172
			Series - 2016 CR28 (Class A4)
	5,000,000	i	COMM Mortgage Trust			4.638		02/10/49		5,077,628
			Series - 2016 CR28 (Class B)
	5,000,000		COMM Mortgage Trust			3.263		08/15/57		4,851,656
			Series - 2019 GC44 (Class AM)
	1,993,352	i	Connecticut Avenue Securities	LIBOR 1 M + 2.600%		3.057		05/25/24		1,995,841
			Series - 2014 C02 (Class 1M2)
	5,204,857	i	Connecticut Avenue Securities	LIBOR 1 M + 3.000%		3.457		07/25/24		5,230,923
			Series - 2014 C03 (Class 1M2)

201

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	1,400,000	g,i	Connecticut Avenue Securities			3.399	%	11/25/41	$	1,298,425
			Series - 2021 R02 (Class 2B1)
	790,000	g,i	Connecticut Avenue Securities Trust			1.649		10/25/41		763,201
			Series - 2021 R01 (Class 1M2)
	4,965,000	g,i	Connecticut Avenue Securities Trust			2.849		12/25/41		4,494,882
			Series - 2021 R03 (Class 1B1)
	6,305,000	g,i	Connecticut Avenue Securities Trust			3.599		03/25/42		6,372,249
			Series - 2022 R03 (Class 1M2)
	1,000,000	g,i	CPT Mortgage Trust			2.997		11/13/39		853,144
			Series - 2019 CPT (Class E)
	1,591,128	g,i	Credit Suisse Commercial Mortgage Trust			3.500		02/25/48		1,563,399
			Series - 2018 J1 (Class A11)
	116,200	g,i	Credit Suisse Mortgage Capital Certificates	LIBOR 1 M + 0.980%		1.377		05/15/36		115,573
			Series - 2019 ICE4 (Class A)
	3,000,000	g,i	Credit Suisse Mortgage Capital Certificates	LIBOR 1 M + 1.600%		1.997		05/15/36		2,966,166
			Series - 2019 ICE4 (Class D)
	7,675,903	g,i	Credit Suisse Mortgage Capital Certificates			2.405		10/25/66		7,313,587
			Series - 2021 NQM8 (Class A3)
	2,500,000	g,i	CSMC Series			3.388		10/25/59		2,407,056
			Series - 2019 NQM1 (Class M1)
	821,123	g,i	CSMC Trust			3.500		02/25/48		806,812
			Series - 2018 J1 (Class A2)
	4,750,000		DBGS Mortgage Trust			4.466		10/15/51		5,030,939
			Series - 2018 C1 (Class A4)
	5,000,000		DBJPM Mortgage Trust			2.340		08/15/53		4,528,913
			Series - 2020 C9 (Class AM)
	1,200,000	g	DBUBS Mortgage Trust			3.452		10/10/34		1,193,713
			Series - 2017 BRBK (Class A)
	4,000,000	g,i	EQUS Mortgage Trust	LIBOR 1 M + 2.300%		2.697		10/15/38		3,884,478
			Series - 2021 EQAZ (Class E)
	589,103	i	Fieldstone Mortgage Investment Trust	LIBOR 1 M + 0.735%		1.192		12/25/35		584,125
			Series - 2005 2 (Class M2)
	1,264,991	g,i	Flagstar Mortgage Trust			4.048		10/25/47		1,261,374
			Series - 2017 2 (Class B3)
	104,118	g,i	Flagstar Mortgage Trust			4.000		09/25/48		104,410
			Series - 2018 5 (Class A11)
	2,092,854	g,i	Flagstar Mortgage Trust			2.500		04/25/51		1,909,803
			Series - 2021 2 (Class A4)
	6,722,240	g,i	Flagstar Mortgage Trust			2.500		06/01/51		6,132,867
			Series - 2021 4 (Class A21)
	24,732,015	g,i	Flagstar Mortgage Trust			3.000		10/25/51		23,224,920
			Series - 2021 10INV (Class A17)
	775,000	g,i	Freddie Mac STACR REMIC Trust			2.149		12/25/33		729,427
			Series - 2021 HQA2 (Class M2)
	6,810,000	g,i	Freddie Mac STACR REMIC Trust			1.749		01/25/34		6,699,466
			Series - 2021 DNA5 (Class M2)
	5,440,000	g,i	Freddie Mac STACR REMIC Trust			2.599		01/25/42		5,085,417
			Series - 2022 DNA1 (Class M2)
	750,000	g,i	FREMF Mortgage Trust			4.024		03/25/49		758,642
			Series - 2016 K53 (Class B)

202

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	10,500,000	g	GS Mortgage Securities Corp II			3.419	%	10/10/32	$	10,524,023
			Series - 2017 SLP (Class A)
	1,344,000	g	GS Mortgage Securities Corp II			3.551		04/10/34		1,343,405
			Series - 2012 ALOH (Class A)
	2,590,000	i	GS Mortgage Securities Corp II			3.777		05/10/50		2,577,799
			Series - 2015 GC30 (Class AS)
	3,010,000	i	GS Mortgage Securities Corp II			3.992		03/10/51		3,093,335
			Series - 2018 GS9 (Class A4)
	1,500,000	i	GS Mortgage Securities Corp II			4.155		07/10/51		1,557,624
			Series - 2018 GS10 (Class A5)
	2,000,000	g,i	GS Mortgage Securities Trust	LIBOR 1 M + 1.450%		1.847		07/15/31		1,919,090
			Series - 2018 TWR (Class C)
	2,500,000	g,i	GS Mortgage Securities Trust			4.285		02/10/46		2,505,366
			Series - 2013 GC10 (Class C)
	3,500,000	i	GS Mortgage Securities Trust			4.018		07/10/48		3,499,863
			Series - 2015 GC32 (Class AS)
	1,529,000	i	GS Mortgage Securities Trust			3.993		10/10/49		1,474,796
			Series - 2016 GS3 (Class C)
	3,803,000	i	GS Mortgage Securities Trust			3.958		11/10/49		3,522,553
			Series - 2016 GS4 (Class C)
	7,570,034		GS Mortgage Securities Trust			3.467		03/10/50		7,609,296
			Series - 2017 GS5 (Class AAB)
	9,100,951		GS Mortgage Securities Trust			3.674		03/10/50		9,173,662
			Series - 2017 GS5 (Class A4)
	4,300,000		GS Mortgage Securities Trust			3.433		05/10/50		4,291,624
			Series - 2017 GS6 (Class A3)
	3,000,000		GS Mortgage Securities Trust			3.837		11/10/50		3,044,149
			Series - 2017 GS8 (Class ABP)
	2,500,000	i	GS Mortgage Securities Trust			4.335		11/10/50		2,495,437
			Series - 2017 GS8 (Class C)
	1,260,000		GS Mortgage Securities Trust			3.968		02/10/52		1,296,200
			Series - 2019 GC38 (Class A4)
	2,400,000	i	GS Mortgage Securities Trust			4.158		02/10/52		2,463,669
			Series - 2019 GC38 (Class AS)
	1,000,000	i	GS Mortgage Securities Trust			4.761		02/10/52		996,217
			Series - 2019 GC38 (Class C)
	1,500,000	g,i	GS Mortgage Securities Trust			3.501		07/10/52		1,466,229
			Series - 2019 GC40 (Class DBB)
	5,500,000	g,i	GS Mortgage Securities Trust			3.550		07/10/52		5,332,527
			Series - 2019 GC40 (Class DBC)
	1,361,000	i	GS Mortgage Securities Trust			3.405		02/13/53		1,299,387
			Series - 2020 GC45 (Class B)
	5,500,000		GS Mortgage Securities Trust			2.012		12/12/53		4,902,836
			Series - 2020 GSA2 (Class A5)
	603,502	g,i	GS Mortgage-Backed Securities Corp Trust			4.000		11/25/49		604,334
			Series - 2019 PJ2 (Class A4)
	231,208	g,i	GS Mortgage-Backed Securities Corp Trust			4.000		11/25/49		231,526
			Series - 2019 PJ2 (Class A1)
	2,004,882	g,i	GS Mortgage-Backed Securities Corp Trust			3.500		07/25/50		1,994,705
			Series - 2020 PJ2 (Class A4)

203

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	903,132	g,i	GS Mortgage-Backed Securities Corp Trust			3.000	%	01/25/51	$	879,689
			Series - 2020 PJ4 (Class A4)
	693,264	i	GS Mortgage-Backed Securities Corp Trust			3.000		03/27/51		668,700
			Series - 2020 PJ5 (Class A4)
	2,229,032	g,i	GS Mortgage-Backed Securities Corp Trust			2.500		05/25/51		2,050,907
			Series - 2020 PJ6 (Class A4)
	4,994,385	g,i	GS Mortgage-Backed Securities Corp Trust			2.500		10/25/51		4,560,448
			Series - 2021 PJ5 (Class A4)
	12,440,839	g,i	GS Mortgage-Backed Securities Corp Trust			3.000		06/25/52		11,721,609
			Series - 2022 PJ2 (Class A36)
	1,040,357	g,i	GS Mortgage-Backed Securities Trust			3.669		05/25/50		1,005,221
			Series - 2020 PJ1 (Class B2)
	2,860,475	g,i	GS Mortgage-Backed Securities Trust			2.500		07/25/51		2,612,457
			Series - 2021 PJ2 (Class A4)
	20,425,310	g,i	GS Mortgage-Backed Securities Trust			2.500		01/25/52		18,637,789
			Series - 2021 PJ7 (Class A4)
	10,516,824	g,i	GS Mortgage-Backed Securities Trust			2.500		01/25/52		9,604,963
			Series - 2021 PJ8 (Class A4)
	14,196,243	g,i	GS MortSecurities Trust			2.500		11/25/51		12,949,174
			Series - 2021 PJ6 (Class A4)
	890,579	i	HarborView Mortgage Loan Trust	LIBOR 1 M + 0.620%		1.069		08/19/45		876,654
			Series - 2005 11 (Class 2A1A)
	2,000,000	g	Hudson Yards Mortgage Trust			2.835		08/10/38		1,930,653
			Series - 2016 10HY (Class A)
	3,000,000	g,i	Hudson Yards Mortgage Trust			2.977		08/10/38		2,906,532
			Series - 2016 10HY (Class B)
	3,500,000	g,i	Hudson Yards Mortgage Trust			2.977		08/10/38		3,338,359
			Series - 2016 10HY (Class C)
	4,700,000	g,i	Hudson Yards Mortgage Trust			2.943		12/10/41		4,201,906
			Series - 2019 55HY (Class D)
	2,750,000	g,i	Hudson Yards Mortgage Trust			2.943		12/10/41		2,378,064
			Series - 2019 55HY (Class E)
	97,756	i	Impac CMB Trust	LIBOR 1 M + 0.660%		1.117		03/25/35		98,635
			Series - 2004 11 (Class 2A1)
	3,957,256	g,i	Imperial Fund Mortgage Trust			2.051		10/25/55		3,822,742
			Series - 2020 NQM1 (Class A3)
	1,000,000	g,i	Imperial Fund Mortgage Trust			3.531		10/25/55		959,627
			Series - 2020 NQM1 (Class M1)
	3,000,000	g	JP Morgan Chase Commercial Mortgage Securities Corp			4.379		07/05/31		3,028,199
			Series - 2018 AON (Class B)
	1,700,000	g,i	JP Morgan Chase Commercial Mortgage Securities Corp			4.077		01/15/46		1,670,438
			Series - 2013 C13 (Class D)
	1,500,000		JP Morgan Chase Commercial Mortgage Securities Corp			4.166		12/15/46		1,519,197
			Series - 2013 C16 (Class A4)
	800,000		JP Morgan Chase Commercial Mortgage Securities Corp			3.372		12/15/47		804,434
			Series - 2013 C10 (Class AS)
	750,000	i	JP Morgan Chase Commercial Mortgage Securities Corp			4.119		01/15/49		757,088
			Series - 2015 JP1 (Class AS)

204

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	500,000		JP Morgan Chase Commercial Mortgage Securities Corp			3.379	%	09/15/50	$	495,503
			Series - 2017 JP7 (Class A3)
	1,183,397	g	JP Morgan Chase Commercial Mortgage Securities Trust			3.093		07/05/32		1,183,347
			Series - 2012 HSBC (Class A)
	4,524,737	g,i	JP Morgan Mortgage Trust	LIBOR 1 M - 0.000%		2.102		12/25/44		4,589,603
			Series - 2015 1 (Class B1)
	86,401	g,i	JP Morgan Mortgage Trust			3.500		05/25/45		84,807
			Series - 2015 3 (Class A19)
	482,753	g,i	JP Morgan Mortgage Trust			3.500		10/25/45		464,859
			Series - 2015 6 (Class A13)
	222,470	g,i	JP Morgan Mortgage Trust			3.500		05/25/46		219,607
			Series - 2016 1 (Class A13)
	1,383,062	g,i	JP Morgan Mortgage Trust			3.500		05/25/47		1,354,115
			Series - 2017 2 (Class A13)
	1,105,166	g,i	JP Morgan Mortgage Trust			3.500		09/25/48		1,064,648
			Series - 2018 3 (Class A13)
	525,612	g,i	JP Morgan Mortgage Trust			3.500		10/25/48		518,339
			Series - 2018 4 (Class A13)
	2,577,075	g,i	JP Morgan Mortgage Trust			3.500		10/25/48		2,497,040
			Series - 2018 5 (Class A13)
	1,333,910	g,i	JP Morgan Mortgage Trust			3.050		10/26/48		1,338,685
			Series - 2017 5 (Class A2)
	222,879	g,i	JP Morgan Mortgage Trust			4.000		01/25/49		223,197
			Series - 2018 8 (Class A13)
	174,705	g,i	JP Morgan Mortgage Trust			4.000		02/25/49		174,957
			Series - 2018 9 (Class A13)
	164,186	g,i	JP Morgan Mortgage Trust			4.000		05/25/49		164,543
			Series - 2019 1 (Class A3)
	86,166	g,i	JP Morgan Mortgage Trust			4.000		05/25/49		86,354
			Series - 2019 1 (Class A15)
	1,215,408	g,i	JP Morgan Mortgage Trust			4.629		09/25/49		1,183,231
			Series - 2019 3 (Class B1)
	833,358	g,i	JP Morgan Mortgage Trust	LIBOR 1 M + 0.950%		1.407		10/25/49		835,080
			Series - 2019 INV1 (Class A11)
	3,654,659	g,i	JP Morgan Mortgage Trust			3.864		06/25/50		3,557,444
			Series - 2020 1 (Class B2)
	6,815,072	g,i	JP Morgan Mortgage Trust			2.500		10/25/51		6,223,831
			Series - 2021 6 (Class A15)
	4,215,531	g,i	JP Morgan Mortgage Trust			2.500		11/25/51		3,849,939
			Series - 2021 7 (Class A15)
	4,444,874	g,i	JP Morgan Mortgage Trust			2.500		12/25/51		4,059,881
			Series - 2021 8 (Class A15)
	2,426,773	g,i	JP Morgan Mortgage Trust			2.500		12/25/51		2,216,142
			Series - 2021 10 (Class A15)
	9,459,252	g,i	JP Morgan Mortgage Trust			2.500		01/25/52		8,635,398
			Series - 2021 11 (Class A15)
	2,593,962	g,i	JP Morgan Mortgage Trust			2.500		02/25/52		2,368,482
			Series - 2021 12 (Class A15)
	6,987,390	g,i	JP Morgan Mortgage Trust			3.357		04/25/52		6,380,711
			Series - 2021 INV6 (Class B1)

205

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	4,476,078	g,i	JP Morgan Mortgage Trust			3.357	%	04/25/52	$	3,998,656
			Series - 2021 INV6 (Class B2)
	4,137,534	g,i	JP Morgan Mortgage Trust			2.500		05/25/52		3,776,596
			Series - 2021 14 (Class A15)
	13,527,873	g,i	JP Morgan Mortgage Trust			2.500		06/25/52		12,349,122
			Series - 2021 15 (Class A15)
	17,099,187	g,i	JP Morgan Mortgage Trust			3.000		08/25/52		16,121,335
			Series - 2022 2 (Class A25)
	753,794	i	JPMBB Commercial Mortgage Securities Trust			4.133		08/15/46		758,782
			Series - 2013 C14 (Class A4)
	3,252,389		JPMBB Commercial Mortgage Securities Trust			3.493		08/15/47		3,256,482
			Series - 2014 C21 (Class A4)
	1,000,000		JPMBB Commercial Mortgage Securities Trust			3.898		02/15/48		977,138
			Series - 2015 C27 (Class B)
	2,000,000	i	JPMBB Commercial Mortgage Securities Trust			3.917		05/15/48		2,000,331
			Series - 2015 C29 (Class AS)
	1,600,000	i	JPMBB Commercial Mortgage Securities Trust			4.118		05/15/48		1,547,122
			Series - 2015 C29 (Class B)
	3,000,000		JPMBB Commercial Mortgage Securities Trust			4.106		08/15/48		3,026,585
			Series - 2015 C31 (Class AS)
	5,585,000	i	JPMBB Commercial Mortgage Securities Trust			4.622		08/15/48		5,643,486
			Series - 2015 C31 (Class B)
	1,400,000		JPMBB Commercial Mortgage Securities Trust			3.227		10/15/48		1,390,532
			Series - 2015 C28 (Class A4)
	1,400,000		JPMBB Commercial Mortgage Securities Trust			4.023		12/15/48		1,404,486
			Series - 2015 C33 (Class AS)
	10,425,000		JPMBB Commercial Mortgage Securities Trust			3.576		03/17/49		10,503,593
			Series - 2016 C1 (Class A5)
	2,645,000	g,i	JPMBB Commercial Mortgage Securities Trust			4.233		03/17/49		2,492,708
			Series - 2016 C1 (Class D1)
	1,500,000	i	JPMBB Commercial Mortgage Securities Trust			4.733		03/17/49		1,490,325
			Series - 2016 C1 (Class C)
	1,156,860		JPMCC Commercial Mortgage Securities Trust			3.457		03/15/50		1,156,408
			Series - 2017 JP5 (Class A4)
	2,000,000	i	JPMCC Commercial Mortgage Securities Trust			3.640		09/15/50		1,897,259
			Series - 2017 JP7 (Class C)
	6,000,000		JPMDB Commercial Mortgage Securities Trust			2.536		05/13/53		5,473,535
			Series - 2020 COR7 (Class AS)
	1,550,843	g	Ladder Capital Commercial Mortgage Securities			3.575		02/15/36		1,538,305
			Series - 2013 GCP (Class A1)
	3,115,667	g	LSTAR Commercial Mortgage Trust			2.579		03/10/49		3,108,306
			Series - 2016 4 (Class A2)
	12,000,000	g,i	MAD Mortgage Trust			2.976		08/15/34		11,742,516
			Series - 2017 330M (Class A)
	1,500,000	g,i	Manhattan West			2.335		09/10/39		1,378,300
			Series - 2020 1MW (Class B)
	3,000,000	g,i	Manhattan West			2.335		09/10/39		2,708,864
			Series - 2020 1MW (Class C)
	1,954,287	i	Merrill Lynch Mortgage Investors Trust	LIBOR 1 M + 0.520%		2.278		01/25/37		1,882,541
			Series - 2006 WMC1 (Class A1B)

206

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	5,000,000		Morgan Stanley Bank of America Merrill Lynch Trust			3.476	%	11/15/45	$	5,009,378
			Series - 2012 C6 (Class AS)
	2,912,795	g	Morgan Stanley Bank of America Merrill Lynch Trust			3.989		12/15/46		2,896,257
			Series - 2014 C19 (Class LNC1)
	920,314	g	Morgan Stanley Bank of America Merrill Lynch Trust			4.384		12/15/46		913,892
			Series - 2014 C19 (Class LNC2)
	1,305,000	i	Morgan Stanley Bank of America Merrill Lynch Trust			5.053		02/15/47		1,337,220
			Series - 2014 C14 (Class C)
	2,070,000		Morgan Stanley Bank of America Merrill Lynch Trust			3.832		12/15/47		2,072,101
			Series - 2014 C19 (Class AS)
	67,037		Morgan Stanley Bank of America Merrill Lynch Trust			3.069		02/15/48		67,266
			Series - 2015 C20 (Class ASB)
	2,500,000		Morgan Stanley Bank of America Merrill Lynch Trust			3.338		03/15/48		2,491,151
			Series - 2015 C21 (Class A4)
	3,360,000		Morgan Stanley Bank of America Merrill Lynch Trust			3.561		04/15/48		3,298,432
			Series - 2015 C22 (Class AS)
	11,328,460		Morgan Stanley Capital I Trust			2.606		08/15/49		11,224,350
			Series - 2016 UB11 (Class ASB)
	260,237	†,i	Morgan Stanley Capital I Trust			5.674		12/12/49		138,700
			Series - 2007 IQ16 (Class AJ)
	1,300,000		Morgan Stanley Capital I Trust			3.587		12/15/50		1,302,204
			Series - 2017 HR2 (Class A4)
	1,000,000		Morgan Stanley Capital I Trust			4.177		07/15/51		1,033,183
			Series - 2018 H3 (Class A5)
	3,142,000	i	Morgan Stanley Capital I Trust			4.429		07/15/51		3,258,835
			Series - 2018 H3 (Class AS)
	3,018,403	g,i	Morgan Stanley Residential Mortgage Loan Trust			2.500		07/25/51		2,879,927
			Series - 2021 4 (Class A4)
	8,581,442	g,i	Morgan Stanley Residential Mortgage Loan Trust			2.500		08/25/51		7,839,276
			Series - 2021 5 (Class A9)
	6,348,248	g,i	Morgan Stanley Residential Mortgage Loan Trust			2.500		09/25/51		5,799,728
			Series - 2021 6 (Class A9)
	9,338,322	g,i	Morgan Stanley Residential Mortgage Loan Trust			2.500		09/25/51		8,915,506
			Series - 2021 6 (Class A4)
	3,000,000	g	MRCD Mortgage Trust			2.718		12/15/36		2,774,300
			Series - 2019 PARK (Class D)
	1,500,000	g	MRCD Mortgage Trust			2.718		12/15/36		1,376,979
			Series - 2019 PARK (Class E)
	1,500,000	g,i	MSDB Trust			3.316		07/11/39		1,468,027
			Series - 2017 712F (Class A)
	6,300,000	g,i	Natixis Commercial Mortgage Securities Trust	LIBOR 1 M + 1.500%		1.897		07/15/36		6,267,835
			Series - 2019 MILE (Class A)
	2,500,000	g,i	Natixis Commercial Mortgage Securities Trust	LIBOR 1 M + 1.800%		2.197		07/15/36		2,481,729
			Series - 2019 MILE (Class B)

207

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	2,000,000	g	Natixis Commercial Mortgage Securities Trust			2.966	%	12/15/38	$	1,954,935
			Series - 2020 2PAC (Class A)
	188,759	g,i	New Residential Mortgage Loan Trust			4.750		12/25/57		191,639
			Series - 2018 5A (Class A1)
	888,483	g,i	New Residential Mortgage Loan Trust			2.797		09/25/59		882,223
			Series - 2019 NQM4 (Class A3)
	700,000	g,i	New Residential Mortgage Loan Trust			2.986		09/25/59		665,861
			Series - 2019 NQM4 (Class M1)
	181,211	i	New York Mortgage Trust	LIBOR 1 M + 0.480%		0.937		02/25/36		181,638
			Series - 2005 3 (Class A1)
	1,325,000	g,i	NLT Trust			2.569		08/25/56		1,202,656
			Series - 2021 INV2 (Class M1)
	10,955,350	g,i	OBX Trust			2.500		07/25/51		9,991,772
			Series - 2021 J2 (Class A19)
	558,371	g,i	OBX Trust	LIBOR 1 M + 0.650%		1.107		06/25/57		551,455
			Series - 2018 1 (Class A2)
	2,359,540	g,i	Oceanview Mortgage Trust			2.500		05/25/51		2,154,366
			Series - 2021 1 (Class A19)
	3,000,000	g	One Bryant Park Trust			2.516		09/15/54		2,774,640
			Series - 2019 OBP (Class A)
	20,445,000	g	One Market Plaza Trust			3.614		02/10/32		20,348,788
			Series - 2017 1MKT (Class A)
	1,000,000	g	RBS Commercial Funding, Inc Trust			3.511		03/11/31		996,820
			Series - 2013 SMV (Class B)
	385,313	g,i	Sequoia Mortgage Trust			3.500		05/25/45		376,498
			Series - 2015 2 (Class A1)
	295,299	g,i	Sequoia Mortgage Trust			3.500		02/25/47		287,900
			Series - 2017 2 (Class A19)
	22,935	g,i	Sequoia Mortgage Trust			3.500		04/25/47		22,339
			Series - 2017 3 (Class A19)
	864,825	g,i	Sequoia Mortgage Trust			3.740		09/25/47		836,066
			Series - 2017 6 (Class B1)
	579,661	g,i	Sequoia Mortgage Trust			3.500		02/25/48		570,954
			Series - 2018 2 (Class A1)
	658,107	g,i	Sequoia Mortgage Trust			3.500		03/25/48		650,875
			Series - 2018 3 (Class A1)
	76,817	g,i	Sequoia Mortgage Trust			4.000		09/25/48		76,927
			Series - 2018 7 (Class A19)
	550,191	g,i	Sequoia Mortgage Trust			4.000		06/25/49		550,717
			Series - 2019 2 (Class A1)
	190,978	g,i	Sequoia Mortgage Trust			4.000		06/25/49		191,161
			Series - 2019 2 (Class A19)
	1,323,474	g,i	Sequoia Mortgage Trust			3.500		11/25/49		1,271,998
			Series - 2019 4 (Class A1)
	2,920,228	g,i	Sequoia Mortgage Trust			3.500		12/25/49		2,884,280
			Series - 2019 5 (Class A1)
	1,686,181	g,i	Sequoia Mortgage Trust			3.500		12/25/49		1,664,928
			Series - 2019 5 (Class A19)
	1,421,982	g,i	Sequoia Mortgage Trust			3.500		03/25/50		1,396,214
			Series - 2020 2 (Class A1)
	3,188,525	g,i	Sequoia Mortgage Trust			3.000		04/25/50		3,073,468
			Series - 2020 3 (Class A19)
	4,084,861	g,i	Sequoia Mortgage Trust			2.500		06/25/51		3,718,821
			Series - 2021 4 (Class A19)

208

TIAA-CREF FUNDS - Core Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	257,767	g,i	Shellpoint Co-Originator Trust			3.500	%	04/25/47	$	249,256
			Series - 2017 1 (Class A19)
	15,415,000	g	SLG Office Trust			2.851		07/15/41		13,185,206
			Series - 2021 OVA (Class E)
	4,340,657	g,i	SMR Mortgage Trust			2.701		02/15/39		4,288,709
			Series - 2022 IND (Class B)
	3,955,000	g,i	Structured Agency Credit Risk Debt Note (STACR)			2.199		10/25/33		3,864,195
			Series - 2021 DNA3 (Class M2)
	38,782	g,i	STACR			3.724		02/25/48		38,656
			Series - 2018 SPI1 (Class M2)
	98,323	g,i	STACR			3.809		05/25/48		98,025
			Series - 2018 SPI2 (Class M2)
	1,850,000	g,i	STACR	LIBOR 1 M + 2.500%		2.957		02/25/50		1,742,853
			Series - 2020 DNA2 (Class B1)
	1,875,000	g,i	STACR			4.099		11/25/50		1,828,092
			Series - 2020 HQA5 (Class B1)
	2,250,000		UBS Commercial Mortgage Trust			4.334		10/15/51		2,351,067
			Series - 2018 C13 (Class A4)
	1,000,000	g,i	UBS-Barclays Commercial Mortgage Trust			3.649		03/10/46		986,694
			Series - 2013 C5 (Class B)
	2,000,000	g,i	UBS-Barclays Commercial Mortgage Trust			3.875		04/10/46		1,974,959
			Series - 2013 C6 (Class B)
	275,633	g	Verus Securitization Trust			2.938		07/25/59		275,677
			Series - 2019 3 (Class A2)
	5,650,000	g,i	Verus Securitization Trust			3.139		07/25/59		5,645,437
			Series - 2019 3 (Class M1)
	1,225,000	g,i	Verus Securitization Trust			3.207		11/25/59		1,218,795
			Series - 2019 4 (Class M1)
	957,367	g	Verus Securitization Trust			1.733		05/25/65		933,407
			Series - 2020 5 (Class A3)
	8,513,415	g,i	Verus Securitization Trust			2.240		10/25/66		8,029,194
			Series - 2021 7 (Class A3)
	1,054,022	g	VSE VOI Mortgage LLC			2.330		03/20/35		1,036,373
			Series - 2017 A (Class A)
	937,527	g	VSE VOI Mortgage LLC			4.020		02/20/36		937,144
			Series - 2018 A (Class C)
	8,200,000		Wells Fargo Commercial Mortgage Trust			3.539		10/15/45		8,227,480
			Series - 2012 LC5 (Class AS)
	2,272,000		Wells Fargo Commercial Mortgage Trust			3.540		05/15/48		2,280,215
			Series - 2015 C28 (Class A4)
	2,100,000	i	Wells Fargo Commercial Mortgage Trust			3.658		05/15/48		2,071,342
			Series - 2015 NXS1 (Class B)
	2,000,000	i	Wells Fargo Commercial Mortgage Trust			4.152		05/15/48		1,899,982
			Series - 2015 NXS1 (Class D)
	350,000		Wells Fargo Commercial Mortgage Trust			3.637		06/15/48		352,144
			Series - 2015 C29 (Class A4)
	4,340,643		Wells Fargo Commercial Mortgage Trust			2.825		10/15/49		4,317,469
			Series - 2016 LC24 (Class ASB)
	387,000		Wells Fargo Commercial Mortgage Trust			3.635		03/15/50		391,287
			Series - 2017 RB1 (Class A5)
	2,000,000		Wells Fargo Commercial Mortgage Trust			3.757		03/15/50		2,008,697
			Series - 2017 RB1 (Class AS)

209

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	2,900,000		Wells Fargo Commercial Mortgage Trust		3.184	%	04/15/50	$	2,879,500
			Series - 2015 LC20 (Class A5)
	1,720,000		Wells Fargo Commercial Mortgage Trust		3.467		04/15/50		1,700,318
			Series - 2015 LC20 (Class AS)
	2,000,000	i	Wells Fargo Commercial Mortgage Trust		4.012		03/15/51		2,061,226
			Series - 2018 C43 (Class A4)
	1,200,000	g	Wells Fargo Commercial Mortgage Trust		3.153		09/15/57		1,093,980
			Series - 2015 NXS3 (Class D)
	2,500,000	i	Wells Fargo Commercial Mortgage Trust		3.972		09/15/57		2,516,395
			Series - 2015 NXS3 (Class AS)
	3,350,000		Wells Fargo Commercial Mortgage Trust		3.952		01/15/59		3,365,448
			Series - 2016 C32 (Class AS)
	2,500,000	i	Wells Fargo Commercial Mortgage Trust		4.717		01/15/59		2,526,340
			Series - 2016 C32 (Class B)
	915,947		Wells Fargo Commercial Mortgage Trust		2.933		11/15/59		910,454
			Series - 2016 C36 (Class ASB)
	151,711	g,i	Wells Fargo Mortgage Backed Securities Trust		4.000		04/25/49		151,641
			Series - 2019 2 (Class A17)
	1,552,892	g,i	Wells Fargo Mortgage Backed Securities Trust		3.500		09/25/49		1,543,962
			Series - 2019 4 (Class A1)
	596,561	g,i	Wells Fargo Mortgage Backed Securities Trust		3.000		07/25/50		573,221
			Series - 2020 4 (Class A17)
	12,577,400	g,i	Wells Fargo Mortgage Backed Securities Trust		2.500		06/25/51		11,477,444
			Series - 2021 2 (Class A17)
	5,739,473	g,i	Wells Fargo Mortgage Backed Securities Trust		3.000		08/25/51		5,432,055
			Series - 2021 INV1 (Class A17)
	4,761,127	g,i	Wells Fargo Mortgage Backed Securities Trust		3.327		08/25/51		4,368,593
			Series - 2021 INV1 (Class B1)
	1,000,000		WFRBS Commercial Mortgage Trust		3.345		05/15/45		1,001,521
			Series - 2013 C13 (Class AS)
	3,419,311	i	WFRBS Commercial Mortgage Trust		4.079		03/15/46		3,468,014
			Series - 2013 UBS1 (Class A4)
	1,000,000	i	WFRBS Commercial Mortgage Trust		4.162		12/15/46		1,015,034
			Series - 2013 C18 (Class A5)
	1,664,000	i	WFRBS Commercial Mortgage Trust		4.862		12/15/46		1,617,716
			Series - 2013 C18 (Class C)
	2,225,281		WFRBS Commercial Mortgage Trust		3.995		05/15/47		2,243,574
			Series - 2014 C20 (Class A5)
	261,119	g,i	WinWater Mortgage Loan Trust		3.910		06/20/44		261,146
			Series - 2014 1 (Class B4)
			TOTAL OTHER MORTGAGE BACKED						890,470,252
			TOTAL STRUCTURED ASSETS						1,522,865,859
			(Cost $1,606,391,563)
			TOTAL BONDS						9,945,826,358
			(Cost $10,382,752,887)

210

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
SHARES			COMPANY	RATE			DATE	VALUE
COMMON STOCKS - 0.0%
MATERIALS - 0.0%
	485,278	*	Petra Diamonds Ltd					$	739,483
			TOTAL MATERIALS						739,483
			TOTAL COMMON STOCKS						739,483
			(Cost $456,161)
PREFERRED STOCKS - 0.1%
DIVERSIFIED FINANCIALS - 0.1%
	200,000		Morgan Stanley						5,316,000
	200,000		Morgan Stanley						5,342,000
			TOTAL DIVERSIFIED FINANCIALS						10,658,000
			TOTAL PREFERRED STOCKS						10,658,000
			(Cost $11,284,000)
PRINCIPAL			ISSUER
SHORT-TERM INVESTMENTS - 18.4%
GOVERNMENT AGENCY DEBT - 12.2%
$	25,000,000		Federal Agricultural Mortgage Corp (FAMC)		0.000	%	04/28/22		24,996,815
	9,000,000		Federal Farm Credit Bank (FFCB)		0.000		04/11/22		8,999,575
	10,000,000		FFCB		0.000		04/13/22		9,999,434
	9,706,000		FFCB		0.000		04/21/22		9,705,084
	20,000,000		FFCB		0.000		04/26/22		19,997,641
	18,000,000		FFCB		0.000		05/02/22		17,993,505
	11,000,000		FFCB		0.000		05/17/22		10,994,111
	13,750,000		FFCB		0.000		05/27/22		13,741,038
	5,400,000		FFCB		0.000		06/08/22		5,393,699
	29,420,000		FFCB		0.000		06/16/22		29,381,636
	27,551,000		FFCB		0.000		06/29/22		27,508,933
	10,000,000		FFCB		0.000		07/06/22		9,979,774
	6,000,000		FFCB		0.000		07/12/22		5,987,143
	20,000,000		FFCB		0.000		07/19/22		19,954,083
	11,786,000		FFCB		0.000		07/20/22		11,758,765
	10,312,000		FFCB		0.000		07/22/22		10,287,739
	11,000,000		FFCB		0.000		07/25/22		10,973,428
	9,630,000		FFCB		0.000		08/18/22		9,596,282
	12,309,000		FFCB		0.000		09/01/22		12,254,479
	15,000,000		FFCB		0.000		09/13/22		14,928,360
	46,100,000		Federal Home Loan Bank (FHLB)		0.000		04/01/22		46,100,000
	11,222,000		FHLB		0.000		04/04/22		11,221,841
	75,470,000		FHLB		0.000		04/05/22		75,468,576
	50,212,000		FHLB		0.000		04/06/22		50,210,816
	10,000,000		FHLB		0.000		04/07/22		9,999,717
	29,000,000		FHLB		0.000		04/08/22		28,999,042
	10,000,000		FHLB		0.000		04/13/22		9,999,434
	73,477,000		FHLB		0.000		04/18/22		73,471,102
	60,900,000		FHLB		0.000		04/20/22		60,894,541

211

TIAA-CREF FUNDS - Core Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	715,000		FHLB		0.000	%	04/21/22	$	714,933
	49,500,000		FHLB		0.000		04/22/22		49,495,096
	20,000,000		FHLB		0.000		04/25/22		19,997,735
	42,500,000		FHLB		0.000		04/29/22		42,494,386
	10,000,000		FHLB		0.000		05/02/22		9,996,392
	9,470,000		FHLB		0.000		05/04/22		9,466,362
	45,000,000		FHLB		0.000		05/05/22		44,982,191
	40,000,000		FHLB		0.000		05/06/22		39,983,704
	37,750,000		FHLB		0.000		05/11/22		37,732,424
	14,600,000		FHLB		0.000		05/13/22		14,592,863
	32,500,000		FHLB		0.000		05/18/22		32,482,221
	25,000,000		FHLB		0.000		05/23/22		24,984,870
	6,680,000		FHLB		0.000		05/25/22		6,675,802
	70,000,000		FHLB		0.000		05/27/22		69,954,454
	10,000,000		FHLB		0.000		06/06/22		9,988,675
	7,500,000		FHLB		0.000		06/08/22		7,491,249
	22,720,000		FHLB		0.000		06/17/22		22,689,984
	2,000,000		FHLB		0.000		06/29/22		1,996,946
	20,000,000		FHLB		0.000		06/30/22		19,969,120
	35,000,000		FHLB		0.000		07/07/22		34,928,671
	20,000,000		FHLB		0.000		07/15/22		19,955,883
	10,300,000		FHLB		0.000		07/19/22		10,276,415
	30,000,000		FHLB		0.000		08/01/22		29,908,043
	35,000,000		FHLB		0.000		08/02/22		34,891,839
	8,000,000		FHLB		0.000		08/05/22		7,974,675
	18,000,000		FHLB		0.000		09/16/22		17,912,473
			TOTAL GOVERNMENT AGENCY DEBT						1,272,333,999
REPURCHASE AGREEMENT - 1.0%
	100,600,000	r	Fixed Income Clearing Corp (FICC)		0.250		04/01/22		100,600,000
			TOTAL REPURCHASE AGREEMENT						100,600,000
TREASURY DEBT - 1.1%
	20,000,000		United States Treasury Bill		0.000		05/12/22		19,995,638
	25,000,000		United States Treasury Bill		0.000		08/11/22		24,923,917
	24,890,000		United States Treasury Note		2.250		04/15/22		24,908,635
	50,000,000		United States Treasury Note		1.750		05/15/22		50,088,581
			TOTAL TREASURY DEBT						119,916,771
	SHARES		COMPANY
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 4.1%
	424,299,963	c	State Street Navigator Securities Lending Government Money Market Portfolio		0.290				424,299,963
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES						424,299,963
			TOTAL SHORT-TERM INVESTMENTS						1,917,150,733
			(Cost $1,918,006,669)
			TOTAL INVESTMENTS - 115.8%						12,062,748,530
			(Cost $12,504,288,201)
			OTHER ASSETS & LIABILITIES, NET - (15.8)%						(1,648,222,904	)
			NET ASSETS - 100.0%					$	10,414,525,626

212

TIAA-CREF FUNDS - Core Bond Fund

CNY	Chinese Yuan
COP	Colombia Peso
DOP	Dominican Republic Peso
EUR	Euro
GHS	Ghanaian Cedi
IDR	Indonesian Rupiah
INR	Indian Rupee
LIBOR	London Interbank Offered Rate
M	Month
MXN	Mexican Peso
MYR	Malaysian Ringgit
REIT	Real Estate Investment Trust
RSD	Serbian Dinar
RUB	Russian Ruble
SOFR	Secure Overnight Financing Rate
THB	Thai Baht
UGX	Ugandan Shilling
UYU	Uruguayan Peso
UZS	Uzbekistani Som
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 $417,608,736.
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 3/31/22, the aggregate value of these securities is $2,384,900,305 or 22.9% 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.
o	Payment in Kind Bond
r	Agreement with Fixed Income Clearing Corp (FICC), 0.250% dated 3/31/22 to be repurchased at $100,600,000 on 4/1/22, collateralized by Government Agency Securities, with coupon rate 0.125% and maturity date 7/15/31, valued at $102,612,053.

Principal denominated in U.S. Dollars, unless otherwise noted. 

Futures contracts outstanding as of March 31, 2022 were as follows:
Description	Number of long (short) contracts	Expiration date	Notional amount	Value	Unrealized appreciation (depreciation)
US Ultra 10 Year Bond	(178)	06/21/22	$    (24,817,670)	$    (24,113,438)	$            704,232

213

TIAA-CREF FUNDS - Core Impact Bond Fund

TIAA-CREF FUNDS
CORE IMPACT BOND FUND
SCHEDULE OF INVESTMENTS
March 31, 2022

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
BANK LOAN OBLIGATIONS - 0.3%
COMMERCIAL & PROFESSIONAL SERVICES - 0.2%
$	23,567	†,i	Coastal Resources of Maine LLC			8.250	%	03/30/23	$	23,567
	15,880,200	i	LTR Intermediate Holdings, Inc	LIBOR  3M + 4.500%		5.500		05/05/28		15,562,596
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES							15,586,163
MATERIALS - 0.0%
	178,301	†,h,i	Vonore Fiber Products LLC			2.000		07/04/22		178,301
			TOTAL MATERIALS							178,301
UTILITIES - 0.1%
	7,526,721	i	Exgen Renewables IV LLC	LIBOR  3M + 2.500%		3.500		12/15/27		7,446,788
			TOTAL UTILITIES							7,446,788
			TOTAL BANK LOAN OBLIGATIONS							23,211,252
			(Cost $23,435,424)
BONDS - 96.9%
CORPORATE BONDS - 41.4%
AUTOMOBILES & COMPONENTS - 0.8%
	9,000,000		Aptiv plc			2.396		02/18/25		8,767,074
	5,000,000		Dana, Inc			4.250		09/01/30		4,576,000
	9,525,000		Ford Motor Co			3.250		02/12/32		8,507,063
	6,200,000		Genuine Parts Co			1.750		02/01/25		5,920,073
	7,250,000		Genuine Parts Co			2.750		02/01/32		6,653,083
	13,025,000	g	Hyundai Capital Services, Inc			1.250		02/08/26		11,947,536
	11,025,000		Magna International, Inc			2.450		06/15/30		10,157,222
			TOTAL AUTOMOBILES & COMPONENTS							56,528,051
BANKS - 7.3%
	15,000,000	g	ABN AMRO Bank NV			2.470		12/13/29		13,709,948
	12,575,000	g	Bank Hapoalim BM			3.255		01/21/32		11,569,000
	13,750,000		Bank of America Corp			0.981		09/25/25		13,032,382
	10,000,000		Bank of America Corp			2.456		10/22/25		9,826,005
	15,000,000	i	Bank of America Corp	SOFR + 0.970%		1.112		07/22/27		14,927,850
	12,500,000		Bank of America Corp			2.087		06/14/29		11,418,043
	15,000,000		Bank of America Corp			2.687		04/22/32		13,794,553
	3,150,000	g	Bank of Montreal			2.100		06/15/22		3,156,633
	10,000,000		Bank of Montreal			3.803		12/15/32		9,882,199
	3,250,000	g	BNP Paribas S.A.			1.904		09/30/28		2,909,046
	15,300,000	g	BNP Paribas S.A.			2.871		04/19/32		13,915,366
	4,850,000	i	Canadian Imperial Bank of Commerce	SOFR + 0.800%		1.072		03/17/23		4,859,700
	1,835,000		Canadian Imperial Bank of Commerce			0.950		10/23/25		1,688,097
	9,125,000		Citigroup, Inc			0.776		10/30/24		8,815,492
	12,600,000		Citigroup, Inc			1.281		11/03/25		11,990,261
	3,125,000	i	Citigroup, Inc	SOFR + 0.694%		0.831		01/25/26		3,074,344
	5,450,000		Citizens Bank NA			2.250		04/28/25		5,282,055
	5,000,000	i	Cooperatieve Rabobank UA	LIBOR 3 M + 0.480%		0.711		01/10/23		5,006,901

214

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	8,385,000		HSBC Holdings plc			3.033	%	11/22/23	$	8,405,904
	13,750,000		HSBC Holdings plc			2.206		08/17/29		12,367,650
	10,000,000	i	ING Groep NV	LIBOR 3 M + 1.000%		1.962		10/02/23		10,058,174
	10,000,000	g	ING Groep NV			1.400		07/01/26		9,251,319
	12,500,000	i	ING Groep NV	SOFR + 1.010%		1.281		04/01/27		12,309,307
	10,000,000		ING Groep NV			2.727		04/01/32		9,171,132
	6,250,000	g	Intesa Sanpaolo S.p.A			3.250		09/23/24		6,188,165
	7,200,000	e,g	Intesa Sanpaolo S.p.A			4.000		09/23/29		6,994,329
	6,000,000	g	Intesa Sanpaolo S.p.A			4.950		06/01/42		5,133,301
	5,000,000	g	Itau Unibanco Holding S.A.			3.875		04/15/31		4,737,500
	4,525,000		JPMorgan Chase & Co			0.563		02/16/25		4,324,449
	4,875,000		JPMorgan Chase & Co			0.768		08/09/25		4,620,854
	15,000,000		JPMorgan Chase & Co			1.040		02/04/27		13,744,763
	13,065,000		JPMorgan Chase & Co			3.650		N/A‡		12,215,775
	9,670,000	g	Kookmin Bank			2.500		11/04/30		8,597,937
	4,000,000		Lloyds Banking Group plc			4.500		11/04/24		4,087,218
	5,725,000		Lloyds Banking Group plc			3.870		07/09/25		5,785,287
	5,925,000	i	Mizuho Financial Group, Inc	LIBOR 3 M + 0.630%		1.128		03/01/28		5,923,067
	9,500,000	g	National Australia Bank Ltd			2.332		08/21/30		8,263,926
	10,000,000	g	National Australia Bank Ltd			2.990		05/21/31		9,074,180
	12,150,000		National Bank of Canada			0.550		11/15/24		11,689,845
	5,485,000		NatWest Group plc			2.359		05/22/24		5,440,440
	11,310,000		People’s United Bank NA			4.000		07/15/24		11,450,952
	4,500,000		People’s United Financial, Inc			3.650		12/06/22		4,529,464
	11,225,000	g	Shinhan Financial Group Co Ltd			3.340		02/05/30		11,053,565
	13,600,000		Sumitomo Mitsui Financial Group, Inc			1.474		07/08/25		12,796,365
	11,500,000		SVB Financial Group			2.100		05/15/28		10,480,917
	7,569,000		SVB Financial Group			3.125		06/05/30		7,276,215
	10,100,000		SVB Financial Group			1.800		02/02/31		8,696,599
	5,000,000		SVB Financial Group			4.000		N/A‡		4,625,000
	14,350,000		Truist Financial Corp			1.267		03/02/27		13,288,463
	14,200,000	g,i	UBS AG.	SOFR + 0.450%		0.626		08/09/24		14,123,223
	11,675,000	g	UBS Group AG.			1.494		08/10/27		10,597,308
	5,000,000	g	UBS Group AG.			2.746		02/11/33		4,543,397
	15,275,000	g	UBS Group AG.			3.179		02/11/43		13,572,555
	15,000,000	g	UniCredit S.p.A			2.569		09/22/26		13,858,514
	3,600,000	g	UniCredit S.p.A			5.459		06/30/35		3,439,969
	11,570,000	g	United Overseas Bank Ltd			2.000		10/14/31		10,734,047
	5,800,000	g	USAA Capital Corp			1.500		05/01/23		5,745,966
	7,435,000	g	USAA Capital Corp			2.125		05/01/30		6,855,258
	2,375,000		Westpac Banking Corp			3.020		11/18/36		2,110,301
			TOTAL BANKS							507,020,475
CAPITAL GOODS - 1.2%
	10,450,000		Carrier Global Corp			2.700		02/15/31		9,751,431
	4,000,000		CNH Industrial Capital LLC			1.950		07/02/23		3,958,665
	5,300,000		CNH Industrial NV			4.500		08/15/23		5,408,462
	3,053,000		CNH Industrial NV			3.850		11/15/27		3,064,304
	4,925,000		Johnson Controls International plc			1.750		09/15/30		4,396,914
	9,800,000		Masco Corp			1.500		02/15/28		8,624,869
	10,000,000		Otis Worldwide Corp			3.112		02/15/40		8,800,794
	3,400,000		Roper Technologies, Inc			1.400		09/15/27		3,081,132
	6,275,000	g,i	Siemens Financieringsmaatschappij NV	SOFR + 0.430%		0.683		03/11/24		6,270,145

215

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	12,500,000	g	Siemens Financieringsmaatschappij NV			1.200	%	03/11/26	$	11,604,151
	10,500,000	g	Triton Container International Ltd			1.150		06/07/24		9,961,589
	3,500,000	g	Triton Container International Ltd			3.150		06/15/31		3,199,999
	3,575,000		Xylem, Inc			2.250		01/30/31		3,247,312
			TOTAL CAPITAL GOODS							81,369,767
COMMERCIAL & PROFESSIONAL SERVICES - 0.6%
	20,000,000		International Bank for Reconstruction & Development			0.000		03/31/27		18,874,469
	7,500,000		Mather Foundation			2.675		10/01/31		6,970,165
	15,760,000		Rockefeller Foundation			2.492		10/01/50		13,154,953
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES							38,999,587
CONSUMER DURABLES & APPAREL - 0.1%
	5,950,000		Whirlpool Corp			2.400		05/15/31		5,414,547
			TOTAL CONSUMER DURABLES & APPAREL							5,414,547
CONSUMER SERVICES - 1.3%
	2,800,000		Bush Foundation			2.754		10/01/50		2,398,771
	10,750,000		Conservation Fund			3.474		12/15/29		10,740,796
	4,040,000		Henry J Kaiser Family Foundation			3.356		12/01/25		3,910,435
	4,500,000		Low Income Investment Fund			3.386		07/01/26		4,495,736
	10,000,000		Low Income Investment Fund			3.711		07/01/29		10,258,559
	7,725,000		Massachusetts Higher Education Assistance Corp			2.673		07/01/31		7,287,935
	7,850,000	i	Nature Conservancy	LIBOR 3 M + 1.080%		1.397		02/01/24		7,849,983
	6,245,000		Nature Conservancy			3.957		03/01/52		6,445,444
	4,100,000		New York Public Library Astor Lenox & Tilden Foundations			4.305		07/01/45		4,688,496
	70,000		Salvation Army			5.637		09/01/26		75,851
	5,000,000		Salvation Army			4.528		09/01/48		5,147,210
	6,850,000		Starbucks Corp			2.450		06/15/26		6,679,233
	11,440,000		Wisconsin Alumni Research Foundation			3.564		10/01/49		11,111,146
	5,000,000		YMCA of Greater New York			5.021		08/01/38		5,524,350
	1,500,000		YMCA of Greater New York			5.151		08/01/48		1,623,796
			TOTAL CONSUMER SERVICES							88,237,741
DIVERSIFIED FINANCIALS - 5.1%
	9,400,000	i	AerCap Ireland Capital DAC	SOFR + 0.680%		0.951		09/29/23		9,308,286
	10,800,000		AerCap Ireland Capital DAC			1.750		01/30/26		9,908,455
	10,500,000		AerCap Ireland Capital DAC			3.000		10/29/28		9,682,965
	8,900,000		AerCap Ireland Capital DAC			3.300		01/30/32		8,022,990
	2,125,000		Bank of New York Mellon Corp			2.661		05/16/23		2,125,609
	3,150,000		Bank of New York Mellon Corp			4.700		N/A‡		3,225,600
	11,900,000	g	BPCE S.A.			1.652		10/06/26		10,980,590
	10,000,000	g	BPCE S.A.			2.045		10/19/27		9,199,036
	7,375,000	g	BPCE S.A.			3.116		10/19/32		6,674,946
	8,500,000	g	BPCE S.A.			3.582		10/19/42		7,360,670
	8,725,000		Charles Schwab Corp			4.000		N/A‡		7,836,097
	11,645,000		Community Preservation Corp			2.867		02/01/30		11,068,346
	9,875,000	g	Credit Suisse Group AG.			1.305		02/02/27		8,863,098
	10,050,000	g	Credit Suisse Group AG.			3.091		05/14/32		9,064,068
	5,820,000		Enterprise Community Loan Fund, Inc			4.152		11/01/28		5,788,622
	10,000,000		Ford Foundation			2.815		06/01/70		8,249,295

216

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	13,300,000		Goldman Sachs Group, Inc			0.855	%	02/12/26	$	12,390,579
	8,300,000		ING Groep NV			4.017		03/28/28		8,345,619
	5,375,000		ING Groep NV			4.252		03/28/33		5,532,907
	14,500,000		Morgan Stanley			0.791		01/22/25		13,919,526
	11,950,000		Morgan Stanley			0.985		12/10/26		10,959,500
	12,475,000		Morgan Stanley			1.512		07/20/27		11,467,064
	10,000,000		Morgan Stanley			2.239		07/21/32		8,861,295
	14,150,000		Morgan Stanley			2.484		09/16/36		12,131,418
	11,600,000	g,i	NatWest Markets plc	SOFR + 0.530%		0.716		08/12/24		11,444,940
	10,000,000	g	NongHyup Bank			1.250		07/20/25		9,401,628
	2,000,000		Reinvestment Fund, Inc			3.166		11/01/23		1,985,755
	3,000,000		Reinvestment Fund, Inc			3.600		02/15/24		2,993,499
	2,500,000		Reinvestment Fund, Inc			3.366		11/01/24		2,478,435
	5,000,000		Reinvestment Fund, Inc			3.513		11/01/25		4,960,454
	5,000,000		Reinvestment Fund, Inc			3.880		02/15/27		5,089,896
	10,250,000	g,i	Societe Generale S.A.	SOFR + 1.050%		1.178		01/21/26		10,116,442
	11,150,000	g	Societe Generale S.A.			2.889		06/09/32		9,991,084
	3,125,000	g	Societe Generale S.A.			4.027		01/21/43		2,716,798
	8,100,000	g	Swiss Re Finance Luxembourg SA			5.000		04/02/49		8,383,500
	7,725,000		Toyota Motor Credit Corp			2.150		02/13/30		7,164,715
	4,823,000	g	UBS Group AG			1.008		07/30/24		4,691,584
	9,000,000		Unilever Capital Corp			0.626		08/12/24		8,614,113
	13,750,000		Unilever Capital Corp			2.000		07/28/26		13,241,740
	5,528,000	e	Unilever Capital Corp			2.125		09/06/29		5,186,044
	6,125,000		Unilever Capital Corp			1.375		09/14/30		5,291,478
	8,475,000		Unilever Capital Corp			1.750		08/12/31		7,497,521
	9,425,000		Unilever Capital Corp			2.625		08/12/51		7,837,073
	3,450,000	g	WLB Asset II B Pte Ltd			3.950		12/10/24		3,344,429
	5,425,000	g	WLB Asset II C Pte Ltd			3.900		12/23/25		5,207,385
	1,925,000	g	WLB Asset II Pte Ltd			4.000		01/14/24		1,924,463
			TOTAL DIVERSIFIED FINANCIALS							350,529,557
ENERGY - 2.7%
	7,500,000	g	Aker BP ASA			2.875		01/15/26		7,291,076
	10,000,000	g	Aker BP ASA			4.000		01/15/31		9,962,311
	9,875,000		BP Capital Markets America, Inc			2.772		11/10/50		8,244,113
	2,650,000		Cenovus Energy, Inc			2.650		01/15/32		2,400,049
	6,550,000		Cenovus Energy, Inc			3.750		02/15/52		5,857,542
	9,575,000	e	ConocoPhillips Co			3.800		03/15/52		9,742,832
	7,500,000	i	Enbridge, Inc	SOFR + 0.400%		0.596		02/17/23		7,492,111
	7,600,000		Enbridge, Inc			2.500		01/15/25		7,467,220
	8,175,000		Enbridge, Inc			3.400		08/01/51		7,245,046
	5,830,000		Enbridge, Inc			5.750		07/15/80		6,034,050
	6,375,000		EQT Corp			6.625		02/01/25		6,733,689
	1,000,000		Equinor ASA			2.450		01/17/23		1,003,357
	2,000,000		Equinor ASA			3.700		03/01/24		2,039,746
	7,725,000	e	Equinor ASA			2.375		05/22/30		7,291,410
	3,000,000		Equinor ASA			3.950		05/15/43		3,095,601
	9,110,000		Equinor ASA			3.250		11/18/49		8,580,166
	1,925,000		ONEOK, Inc			4.000		07/13/27		1,941,202
	7,246,000		ONEOK, Inc			3.400		09/01/29		6,968,209
	13,500,000		ONEOK, Inc			3.100		03/15/30		12,652,811

217

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	3,350,000		ONEOK, Inc		4.950	%	07/13/47	$	3,373,068
	6,100,000		ONEOK, Inc		4.450		09/01/49		5,853,834
	9,053,000	e,g	Renewable Energy Group, Inc		5.875		06/01/28		9,724,099
	11,700,000	g	Santos Finance Ltd		3.649		04/29/31		10,932,730
	7,540,000	e,g	Sunnova Energy Corp		5.875		09/01/26		7,214,875
	6,000,000		Total Capital International S.A.		2.434		01/10/25		5,960,612
	12,850,000		Total Capital International S.A.		2.986		06/29/41		11,707,537
	11,550,000		Total Capital International S.A.		3.127		05/29/50		10,537,407
			TOTAL ENERGY						187,346,703
FOOD & STAPLES RETAILING - 0.4%
	11,225,000	e	SYSCO Corp		2.400		02/15/30		10,438,432
	18,025,000		Walmart, Inc		1.800		09/22/31		16,397,035
			TOTAL FOOD & STAPLES RETAILING						26,835,467
FOOD, BEVERAGE & TOBACCO - 0.5%
	6,150,000	g	Coca-Cola European Partners plc		1.500		01/15/27		5,610,988
	8,500,000	g	NBM US Holdings, Inc		6.625		08/06/29		8,943,700
	20,310,000		PepsiCo, Inc		2.875		10/15/49		18,814,515
			TOTAL FOOD, BEVERAGE & TOBACCO						33,369,203
HEALTH CARE EQUIPMENT & SERVICES - 0.2%
	6,900,000		Cigna Corp		0.613		03/15/24		6,617,031
	2,250,000		Mary Free Bed Rehabilitation Hospital		3.786		04/01/51		2,193,813
	10,385,000		Stanford Health Care		3.027		08/15/51		9,182,609
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						17,993,453
HOUSEHOLD & PERSONAL PRODUCTS - 0.3%
	5,900,000		Kimberly-Clark Corp		3.950		11/01/28		6,185,419
	5,300,000		Procter & Gamble Co		3.000		03/25/30		5,328,948
	12,125,000		Procter & Gamble Co		1.200		10/29/30		10,559,815
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS						22,074,182
INSURANCE - 1.5%
	7,703,000	g	AIA Group Ltd		3.375		04/07/30		7,661,081
	11,400,000	g	Empower Finance 2020 LP		1.357		09/17/27		10,265,403
	4,950,000	g	Empower Finance 2020 LP		1.776		03/17/31		4,284,169
	9,735,000		First American Financial Corp		2.400		08/15/31		8,522,896
	7,725,000	g	Five Corners Funding Trust		4.419		11/15/23		7,895,272
	13,325,000	g	Five Corners Funding Trust II		2.850		05/15/30		12,627,765
	4,100,000	g	Great-West Lifeco US Finance 2020 LP		0.904		08/12/25		3,791,942
	3,850,000	g	HCA, Inc		3.125		03/15/27		3,761,807
	5,450,000	g	HCA, Inc		3.625		03/15/32		5,340,754
	1,500,000	g	HCA, Inc		4.375		03/15/42		1,478,964
	4,600,000	g	HCA, Inc		4.625		03/15/52		4,635,745
	5,000,000		Progressive Corp		3.700		01/26/45		4,875,732
	10,000,000		Prudential Financial, Inc		1.500		03/10/26		9,415,204
	4,499,000		Reinsurance Group of America, Inc		3.900		05/15/29		4,543,047
	6,100,000		Reinsurance Group of America, Inc		3.150		06/15/30		5,875,536
	5,000,000	g	Swiss Re Treasury US Corp		2.875		12/06/22		5,032,706
	6,674,000	g	Swiss Re Treasury US Corp		4.250		12/06/42		7,430,488
			TOTAL INSURANCE						107,438,511

218

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
MATERIALS - 1.5%
$	10,588,000	g	Air Liquide Finance S.A.		2.500	%	09/27/26	$	10,391,896
	6,550,000	e,g	Celulosa Arauco y Constitucion S.A.		4.200		01/29/30		6,566,440
	10,000,000	g	Celulosa Arauco y Constitucion S.A.		5.150		01/29/50		9,887,600
	1,434,000		International Paper Co		4.800		06/15/44		1,528,991
	3,389,000		International Paper Co		4.350		08/15/48		3,548,445
	5,750,000	g	Inversiones CMPC S.A.		4.375		04/04/27		6,014,213
	5,940,000	g	LG Chem Ltd		3.625		04/15/29		5,948,535
	5,925,000		LYB International Finance III LLC		3.375		10/01/40		5,303,758
	5,000,000		Newmont Corp		2.250		10/01/30		4,569,652
	9,875,000		PPG Industries, Inc		1.200		03/15/26		9,142,501
	11,500,000		Sonoco Products Co		1.800		02/01/25		11,020,278
	5,525,000		Sonoco Products Co		2.250		02/01/27		5,231,222
	12,750,000		Sonoco Products Co		2.850		02/01/32		11,916,603
	10,000,000		Teck Resources Ltd		3.900		07/15/30		9,984,845
			TOTAL MATERIALS						101,054,979
MEDIA & ENTERTAINMENT - 0.9%
	10,000,000		Alphabet, Inc		1.100		08/15/30		8,739,053
	5,000,000		Comcast Corp		3.200		07/15/36		4,783,558
	9,425,000	g	Magallanes, Inc		5.050		03/15/42		9,613,785
	10,900,000	g	Magallanes, Inc		5.141		03/15/52		11,151,731
	10,000,000	g	NTT Finance Corp		1.162		04/03/26		9,219,904
	8,750,000		Paramount Global		6.375		03/30/62		8,833,125
	9,100,000	g	RGA Global Funding		2.700		01/18/29		8,565,804
			TOTAL MEDIA & ENTERTAINMENT						60,906,960
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 2.2%
	10,875,000		Amgen, Inc		3.000		01/15/52		9,197,784
	4,800,000		Bristol-Myers Squibb Co		2.350		11/13/40		4,050,474
	16,550,000		Bristol-Myers Squibb Co		3.550		03/15/42		16,368,883
	7,700,000		Bristol-Myers Squibb Co		2.550		11/13/50		6,391,650
	11,825,000		Bristol-Myers Squibb Co		3.700		03/15/52		11,883,406
	8,975,000		Danaher Corp		2.800		12/10/51		7,626,381
	5,350,000		Gilead Sciences, Inc		2.600		10/01/40		4,504,651
	14,150,000		Gilead Sciences, Inc		2.800		10/01/50		11,579,284
	12,550,000		Merck & Co, Inc		2.150		12/10/31		11,607,895
	8,800,000		Merck & Co, Inc		2.750		12/10/51		7,665,152
	7,000,000		PerkinElmer, Inc		2.250		09/15/31		6,187,025
	10,000,000		Pfizer, Inc		1.750		08/18/31		8,994,387
	5,674,000	g	Roche Holdings, Inc		2.375		01/28/27		5,505,089
	11,125,000	g	Roche Holdings, Inc		1.930		12/13/28		10,343,280
	9,175,000		Takeda Pharmaceutical Co Ltd		4.400		11/26/23		9,401,310
	14,681,000		Takeda Pharmaceutical Co Ltd		2.050		03/31/30		13,251,593
	8,500,000		Takeda Pharmaceutical Co Ltd		3.175		07/09/50		7,435,701
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						151,993,945
REAL ESTATE - 2.1%
	1,975,000		Brandywine Operating Partnership LP		3.950		02/15/23		1,987,840
	6,225,000		Brandywine Operating Partnership LP		3.950		11/15/27		6,232,563
	6,875,000		Brixmor Operating Partnership LP		3.900		03/15/27		6,931,992

219

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	6,600,000		Brixmor Operating Partnership LP		2.250	%	04/01/28	$	6,027,362
	4,175,000		Brixmor Operating Partnership LP		2.500		08/16/31		3,687,541
	5,975,000		Corporate Office Properties LP		2.750		04/15/31		5,363,831
	6,600,000		Duke Realty LP		2.875		11/15/29		6,326,812
	11,400,000		Equinix, Inc		1.000		09/15/25		10,475,706
	8,800,000		Federal Realty Investment Trust		1.250		02/15/26		8,098,161
	10,000,000	g	HAT Holdings I LLC		3.375		06/15/26		9,500,000
	10,000,000	g	HAT Holdings I LLC		3.750		09/15/30		9,000,000
	5,125,000		Healthpeak Properties, Inc		2.125		12/01/28		4,712,663
	3,900,000		Host Hotels & Resorts LP		2.900		12/15/31		3,486,032
	4,725,000		Kilroy Realty LP		3.450		12/15/24		4,724,294
	14,350,000		Kilroy Realty LP		2.500		11/15/32		12,472,186
	8,000,000		National Community Renaissance of California		3.270		12/01/32		7,482,938
	5,442,000		Piedmont Operating Partnership LP		3.400		06/01/23		5,448,118
	9,157,000		Regency Centers LP		3.750		06/15/24		9,260,765
	8,090,000	g	Scentre Group Trust 2		5.125		09/24/80		7,938,312
	4,650,000	g	Starwood Property Trust, Inc		4.375		01/15/27		4,510,500
	7,310,000		UDR, Inc		1.900		03/15/33		6,106,596
	3,150,000		Vornado Realty LP		2.150		06/01/26		2,944,028
			TOTAL REAL ESTATE						142,718,240
RETAILING - 0.5%
	2,800,000		Advance Auto Parts, Inc		1.750		10/01/27		2,520,957
	10,000,000		Amazon.com, Inc		0.250		05/12/23		9,846,243
	3,100,000		AutoNation, Inc		3.850		03/01/32		3,000,974
	1,825,000		Genuine Parts Co		1.875		11/01/30		1,578,446
	7,200,000		Home Depot, Inc		2.500		04/15/27		7,067,497
	5,000,000		Home Depot, Inc		3.350		04/15/50		4,711,078
	5,525,000		Lowe’s Cos, Inc		2.800		09/15/41		4,732,169
			TOTAL RETAILING						33,457,364
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.2%
	8,158,000	g	NXP BV		3.400		05/01/30		7,907,190
	10,000,000	g	SK Hynix, Inc		2.375		01/19/31		8,716,446
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT						16,623,636
SOFTWARE & SERVICES - 0.6%
	3,250,000		Autodesk, Inc		2.400		12/15/31		2,897,666
	9,500,000		Automatic Data Processing, Inc		1.700		05/15/28		8,811,300
	12,875,000		Automatic Data Processing, Inc		1.250		09/01/30		11,178,760
	7,725,000	e	Mastercard, Inc		1.900		03/15/31		7,146,681
	10,000,000		Visa, Inc		1.100		02/15/31		8,577,308
			TOTAL SOFTWARE & SERVICES						38,611,715
TECHNOLOGY HARDWARE & EQUIPMENT - 0.2%
	3,839,000		Apple, Inc		2.850		02/23/23		3,870,944
	5,750,000		Apple, Inc		3.000		06/20/27		5,816,220
	4,750,000		HP, Inc		2.650		06/17/31		4,249,832
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						13,936,996

220

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
TELECOMMUNICATION SERVICES - 0.7%
$	9,000,000	i	Verizon Communications, Inc	SOFR + 0.790%		1.062	%	03/20/26	$	8,990,498
	14,225,000		Verizon Communications, Inc			2.550		03/21/31		13,215,736
	9,825,000		Verizon Communications, Inc			3.400		03/22/41		9,210,121
	10,000,000		Verizon Communications, Inc			3.875		03/01/52		10,047,893
	5,000,000		Vodafone Group plc			4.125		06/04/81		4,539,700
			TOTAL TELECOMMUNICATION SERVICES							46,003,948
TRANSPORTATION - 0.4%
	10,000,000		Canadian Pacific Railway Co			1.350		12/02/24		9,587,969
	6,950,000		Canadian Pacific Railway Co			2.450		12/02/31		6,454,790
	5,650,000	e	Canadian Pacific Railway Co			3.000		12/02/41		5,082,496
	5,600,000		Delta Air Lines, Inc			2.900		10/28/24		5,474,000
			TOTAL TRANSPORTATION							26,599,255
UTILITIES - 10.1%
	3,875,000		AES Corp			1.375		01/15/26		3,563,340
	10,900,000		AES Corp			2.450		01/15/31		9,747,374
	8,750,000	g	AES Gener S.A.			6.350		10/07/79		8,640,712
	8,500,000		Algonquin Power & Utilities Corp			4.750		01/18/82		7,925,400
	12,350,000		Ameren Illinois Co			2.900		06/15/51		10,741,341
	3,605,000		Arizona Public Service Co			3.750		05/15/46		3,346,192
	4,500,000		Atlantic City Electric Co			2.300		03/15/31		4,150,548
	5,420,000	g	Atlantica Sustainable Infrastructure plc			4.125		06/15/28		5,223,037
	11,925,000	i	Atmos Energy Corp	LIBOR 3 M + 0.380%		1.023		03/09/23		11,908,553
	14,749,000		Avangrid, Inc			3.200		04/15/25		14,703,381
	7,500,000		Avangrid, Inc			3.800		06/01/29		7,610,795
	5,025,000		Avista Corp			4.350		06/01/48		5,212,189
	5,025,000	g	Azure Power Solar Energy Pvt Ltd			5.650		12/24/24		5,137,308
	10,000,000	g	Brooklyn Union Gas Co			4.487		03/04/49		10,054,094
	9,850,000		CenterPoint Energy Houston Electric LLC			2.350		04/01/31		9,143,811
	7,350,000		CenterPoint Energy Houston Electric LLC			3.350		04/01/51		6,998,990
	11,155,000	i	CenterPoint Energy Resources Corp	LIBOR 3 M + 0.500%		1.004		03/02/23		11,120,537
	3,250,000	g	Clearway Energy Operating LLC			4.750		03/15/28		3,264,073
	10,000,000	g	Clearway Energy Operating LLC			3.750		02/15/31		9,350,950
	3,050,000		CMS Energy Corp			4.750		06/01/50		3,019,500
	10,250,000	g	Colbun S.A.			3.150		01/19/32		9,327,500
	14,500,000		Commonwealth Edison Co			2.750		09/01/51		12,319,841
	8,170,000	g	Consorcio Transmantaro SA			4.700		04/16/34		8,243,530
	13,850,000		Consumers Energy Co			2.500		05/01/60		10,534,225
	5,713,193	g	Continental Wind LLC			6.000		02/28/33		6,316,429
	4,970,700	g	Continuum Energy Levanter Pte Ltd			4.500		02/09/27		4,779,328
	7,115,000		Dominion Energy, Inc			3.600		03/15/27		7,143,943
	8,525,000		Dominion Energy, Inc			2.250		08/15/31		7,678,881
	8,325,000		Dominion Energy, Inc			4.350		N/A‡		8,050,775
	4,850,000		Dominion Energy, Inc (Step Bond)			3.071		08/15/24		4,840,008
	11,725,000		DTE Electric Co			1.900		04/01/28		10,906,563
	9,025,000		DTE Electric Co			3.250		04/01/51		8,553,084
	5,050,000		DTE Electric Co			3.650		03/01/52		5,104,445
	12,000,000		DTE Energy Co			2.850		10/01/26		11,729,843
	10,000,000		Duke Energy Florida LLC			2.500		12/01/29		9,405,076

221

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	3,350,000	g	East Ohio Gas Co			1.300	%	06/15/25	$	3,161,672
	8,850,000		Eastern Energy Gas Holdings LLC			2.500		11/15/24		8,757,785
	6,575,000	g	EDP Finance BV			3.625		07/15/24		6,587,167
	2,312,000	g	EDP Finance BV			1.710		01/24/28		2,038,926
	9,559,000	g	Electricite de France S.A.			3.625		10/13/25		9,577,331
	8,500,000		Essential Utilities, Inc			2.704		04/15/30		8,018,905
	7,800,000		Essential Utilities, Inc			3.351		04/15/50		6,936,355
	4,250,000		Evergy, Inc			2.550		07/01/26		4,155,084
	8,882,000		Georgia Power Co			3.250		04/01/26		8,911,422
	250,000		Georgia Power Co			3.250		03/15/51		216,751
	8,323,425	g	India Cleantech Energy			4.700		08/10/26		7,793,607
	9,700,000		Interstate Power & Light Co			3.500		09/30/49		8,814,312
	7,925,000	g	Korea Hydro & Nuclear Power Co Ltd			3.750		07/25/23		8,039,675
	15,000,000	g	Liberty Utilities Finance GP			2.050		09/15/30		13,151,174
	2,498,000	g	Massachusetts Electric Co			1.729		11/24/30		2,136,666
	6,875,000		MidAmerican Energy Co			3.100		05/01/27		6,871,877
	3,620,000		MidAmerican Energy Co			3.150		04/15/50		3,324,691
	12,626,000		National Fuel Gas Co			5.500		01/15/26		13,368,492
	2,000,000		National Fuel Gas Co			3.950		09/15/27		1,986,683
	3,400,000		National Fuel Gas Co			4.750		09/01/28		3,414,993
	11,274,000		National Fuel Gas Co			2.950		03/01/31		10,259,222
	11,250,000	g	New York State Electric & Gas Corp			2.150		10/01/31		9,982,157
	14,775,000	i	NextEra Energy Capital Holdings, Inc	LIBOR 3 M + 0.270%		0.750		02/22/23		14,723,455
	13,000,000	g	Niagara Mohawk Power Corp			1.960		06/27/30		11,552,834
	750,000	g	Niagara Mohawk Power Corp			4.278		10/01/34		757,661
	5,250,000		Northwest Natural Gas Co			3.078		12/01/51		4,434,661
	4,408,000		NorthWestern Corp			4.176		11/15/44		4,644,346
	6,975,000		OGE Energy Corp			0.703		05/26/23		6,833,277
	16,250,000		PacifiCorp			2.900		06/15/52		14,197,740
	1,925,000	g	Pattern Energy Operations LP			4.500		08/15/28		1,893,834
	7,075,000		Piedmont Natural Gas Co, Inc			3.350		06/01/50		6,304,091
	3,625,000		Public Service Co of Colorado			3.200		03/01/50		3,382,562
	1,000,000		Public Service Co of New Hampshire			3.500		11/01/23		1,011,780
	2,975,000		Public Service Co of New Hampshire			3.600		07/01/49		2,878,703
	6,150,000		Public Service Electric & Gas Co			3.200		08/01/49		5,731,301
	10,825,000		Puget Energy, Inc			4.224		03/15/32		10,846,784
	7,500,000		San Diego Gas & Electric Co			4.150		05/15/48		7,874,977
	13,988,000		San Diego Gas & Electric Co			2.950		08/15/51		12,287,436
	3,280,000		SCE Recovery Funding LLC			1.977		11/15/28		3,166,822
	7,100,000		SCE Recovery Funding LLC			2.943		11/15/42		6,811,030
	2,640,000		SCE Recovery Funding LLC			3.240		11/15/46		2,465,258
	5,000,000		Sempra Energy			4.875		N/A‡		5,025,000
	6,250,000	g	Sociedad de Transmision Austral S.A.			4.000		01/27/32		6,059,750
	2,382,303	g	Solar Star Funding LLC			3.950		06/30/35		2,406,126
	4,746,550	g	Solar Star Funding LLC			5.375		06/30/35		5,224,884
	5,000,000		Southern California Edison Co			3.450		02/01/52		4,492,219
	13,788,000		Southern Power Co			4.150		12/01/25		14,161,746
	14,825,000		Southwestern Electric Power Co			3.250		11/01/51		12,747,108
	2,875,000		Southwestern Public Service Co			3.750		06/15/49		2,845,615
	18,529,000		Southwestern Public Service Co			3.150		05/01/50		16,589,204
	4,864,460	g	Star Energy Geothermal Wayang Windu Ltd			6.750		04/24/33		5,132,005

222

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	15,750,000	g	Sweihan PV Power Co PJSC			3.625	%	01/31/49	$	14,545,440
	5,000,000	g	TerraForm Power Operating LLC			5.000		01/31/28		4,978,750
	7,585,976	g	Topaz Solar Farms LLC			4.875		09/30/39		8,022,170
	806,600	g	Topaz Solar Farms LLC			5.750		09/30/39		883,227
	10,610,000		Tucson Electric Power Co			1.500		08/01/30		9,076,926
	8,421,585	g	UEP Penonome II S.A.			6.500		10/01/38		8,000,506
	15,000,000		Union Electric Co			2.150		03/15/32		13,661,725
	16,400,000		Union Electric Co			2.625		03/15/51		13,572,643
	6,275,000	h	Union Electric Co			3.900		04/01/52		6,491,783
	1,850,000	g	Vistra Corp			7.000		N/A‡		1,800,920
			TOTAL UTILITIES							700,816,842
			TOTAL CORPORATE BONDS							2,855,881,124
			(Cost $3,034,932,736)
GOVERNMENT BONDS - 43.5%
AGENCY SECURITIES - 4.0%
	1,573,000		Canal Barge Co, Inc			4.500		11/12/34		1,673,031
	461,402		Ethiopian Leasing LLC			2.566		08/14/26		454,872
	278,611		Excalibur One 77B LLC			1.492		01/01/25		274,741
	11,250,000		Federal Home Loan Mortgage Corp (FHLMC)			0.125		07/25/22		11,226,981
	23,000,000		FHLMC			0.375		05/05/23		22,642,400
	18,700,000		FHLMC			0.250		08/24/23		18,223,503
	13,600,000		FHLMC			0.250		09/08/23		13,234,215
	22,692,000		FHLMC			0.250		12/04/23		21,964,389
	14,000,000		FHLMC			1.500		02/12/25		13,608,924
	17,500,000		Federal National Mortgage Association (FNMA)			0.250		07/10/23		17,098,499
	8,600,000		FNMA			0.625		04/22/25		8,121,497
	16,800,000		FNMA			0.875		08/05/30		14,669,479
	7,909,000		Hashemite Kingdom of Jordan Government AID Bond			3.000		06/30/25		7,998,232
	4,696,527		HNA LLC			2.369		09/18/27		4,612,690
	515,500	i	Housing and Urban Development Corp Ltd	LIBOR 6 M + 0.035%		1.166		09/15/30		511,934
	833,331	i	Jupiter Aircraft Leasing LLC	LIBOR 3 M + 0.240%		0.721		08/19/23		831,804
	833,329	i	Jupiter Aircraft Leasing LLC	LIBOR 3 M + 0.240%		1.174		09/22/23		831,199
	1,980,000		New York Society for the Relief of the Ruptured & Crippled			2.881		12/20/31		1,941,216
	1,085,535		Overseas Private Investment Corp (OPIC)			2.040		12/15/26		1,075,457
	4,175,159		OPIC			3.220		09/15/29		4,233,911
	5,362,237		OPIC			1.790		10/15/29		5,148,314
	13,405,593		OPIC			2.360		10/15/29		13,156,953
	921,600		OPIC			4.140		05/15/30		973,770
	829,427		OPIC			3.330		05/15/33		848,117
	3,074,788		OPIC			3.430		06/01/33		3,147,530
	937,730		OPIC			2.810		07/31/33		928,249
	750,184		OPIC			2.940		07/31/33		747,811
	1,089,415		OPIC			3.250		07/31/33		1,105,082
	5,773,020		OPIC			2.040		06/15/35		5,437,318
	9,871,973		OPIC			2.290		07/15/38		9,376,501
	5,429,585		OPIC			2.450		07/15/38		5,221,533
	15,500,000		Private Export Funding Corp (PEFCO)			2.050		11/15/22		15,543,052

223

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	1,926,000		PEFCO			3.550	%	01/15/24	$	1,962,356
	1,765,000		PEFCO			3.250		06/15/25		1,792,922
	12,908,116		Thirax  LLC			0.968		01/14/33		11,543,570
	4,000,000		Thirax 2 LLC			2.320		01/22/34		3,813,151
	1,775,000		United States International Development Finance Corp			1.440		04/15/28		1,652,603
	1,000,000		United States International Development Finance Corp			1.650		04/15/28		941,261
	1,653,356		United States International Development Finance Corp			1.050		10/15/29		1,541,818
	4,244,948		United States International Development Finance Corp			1.670		07/15/38		3,840,292
	2,500,000		US Department of Housing and Urban Development (HUD)			2.618		08/01/23		2,504,606
	2,000,000		HUD			2.800		08/01/23		2,008,548
	371,000		HUD			2.910		08/01/23		371,805
	2,257,000		HUD			2.960		08/01/24		2,261,223
	3,726,000		HUD			2.870		08/01/27		3,726,081
	420,000		HUD			5.380		08/01/27		424,588
	4,675,000		HUD			2.985		08/01/28		4,764,382
	1,931,000		HUD			3.185		08/01/29		2,007,444
	1,750,000		HUD			3.585		08/01/37		1,928,210
	916,667		VCM Lease S.A.			2.516		09/28/27		905,661
	905,000		Vessel Management Services, Inc			3.432		08/15/36		927,603
	245,000		Vessel Management Services, Inc			3.477		01/16/37		251,941
	1,907,545	i	Washington Aircraft 2 Co Ltd	LIBOR 3 M + 0.430%		1.396		06/26/24		1,911,885
			TOTAL AGENCY SECURITIES							277,945,154
FOREIGN GOVERNMENT BONDS - 5.9%
	12,750,000		African Development Bank			0.750		04/03/23		12,603,654
	11,850,000	g	Arab Petroleum Investments Corp			1.483		10/06/26		11,098,780
	1,000,000		Asian Development Bank			1.875		08/10/22		1,001,927
	1,000,000		Asian Development Bank			2.125		03/19/25		987,055
	9,732,000		Asian Development Bank			1.750		08/14/26		9,408,704
	16,194,000		Asian Development Bank			3.125		09/26/28		16,789,985
	12,500,000		Asian Development Bank			1.500		03/04/31		11,527,987
EUR	7,925,000	g	Banque Ouest Africaine de Developpement			2.750		01/22/33		8,065,273
$	7,500,000	g	BNG Bank NV			2.625		02/27/24		7,530,650
CLP	9,475,000,000	g	Bonos de la Tesoreria de la Republica en pesos			2.300		10/01/28		9,659,250
$	8,500,000	g	Caisse d’Amortissement de la Dette Sociale			0.375		09/23/25		7,846,111
	4,750,000	g	Caisse d’Amortissement de la Dette Sociale			1.375		01/20/31		4,270,897
	7,000,000	g	CDP Financial, Inc			1.000		05/26/26		6,535,476
	10,050,000		Chile Government International Bond			3.100		05/07/41		8,841,588
	9,500,000		Chile Government International Bond			3.500		01/25/50		8,684,805
	12,500,000	g	Development Bank of Japan, Inc			0.500		03/04/24		12,031,968
	9,875,000	g	Egypt Government International Bond			5.250		10/06/25		9,495,076
	200,000	i	European Bank for Reconstruction & Development	LIBOR 3 M + 0.010%		0.387		05/11/22		199,965
	15,000,000		European Bank for Reconstruction & Development			1.625		09/27/24		14,679,129
	1,000,000		European Bank for Reconstruction & Development			1.500		02/13/25		969,617
	1,250,000		European Investment Bank			2.375		05/24/27		1,240,868

224

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	3,725,000		European Investment Bank			0.625	%	10/21/27	$	3,348,840
	10,500,000		European Investment Bank			1.625		10/09/29		9,889,634
	10,279,000		European Investment Bank			0.750		09/23/30		8,977,805
	9,300,000	g	European Stability Mechanism			1.375		09/11/24		9,048,742
	3,650,000	g	Guatemala Government International Bond			5.375		04/24/32		3,814,287
	10,000,000		International Bank for Reconstruction & Development			0.625		04/22/25		9,432,425
	4,750,000		International Bank for Reconstruction & Development			3.125		11/20/25		4,830,878
	2,900,000		International Bank for Reconstruction & Development			2.750		05/31/36		2,635,526
	10,450,000	g	International Development Association			2.750		04/24/23		10,531,510
	5,000,000		International Finance Corp			2.000		10/24/22		5,021,250
	110,000	i	International Finance Corp	LIBOR 3 M + 0.070%		0.896		12/15/22		110,020
	7,375,000		International Finance Corp			0.500		03/20/23		7,280,305
	3,250,000		International Finance Corp			2.125		04/07/26		3,200,388
	3,350,000	g	Japan Finance Organization for Municipalities			3.375		09/27/23		3,396,729
	8,750,000		Japan International Cooperation Agency			1.750		04/28/31		8,018,991
	6,000,000	g	Kommunalbanken AS.			2.125		02/11/25		5,923,868
	5,500,000	i	Korea Development Bank International Bond	LIBOR 3 M + 0.725%		0.941		07/06/22		5,507,014
	10,100,000	g	Korea Electric Power Corp			1.125		06/15/25		9,477,133
	9,200,000	i	Kreditanstalt fuer Wiederaufbau	SOFR + 1.000%		1.176		02/12/24		9,346,166
	11,750,000		Kreditanstalt fuer Wiederaufbau			0.250		03/08/24		11,285,288
	9,537,000		Kreditanstalt fuer Wiederaufbau			1.000		10/01/26		8,927,558
	1,750,000		Kreditanstalt fuer Wiederaufbau			0.750		09/30/30		1,525,241
	13,250,000		Landwirtschaftliche Rentenbank			0.875		09/03/30		11,663,335
	6,000,000	g	Nederlandse Waterschapsbank NV			3.125		12/05/22		6,064,676
	10,000,000	g	Nederlandse Waterschapsbank NV			1.750		01/15/25		9,776,708
	7,750,000	g	Nederlandse Waterschapsbank NV			2.375		03/24/26		7,652,422
	2,723,000		North American Development Bank			2.400		10/26/22		2,737,137
	6,000,000	g	Perusahaan Penerbit SBSN Indonesia III			3.750		03/01/23		6,075,000
	5,900,000	g	Perusahaan Penerbit SBSN Indonesia III			3.900		08/20/24		6,079,950
	10,690,000		Peruvian Government International Bond			3.000		01/15/34		9,964,790
	500,000		Province of Manitoba Canada			3.050		05/14/24		505,364
	5,000,000	e	Province of Quebec Canada			2.750		04/12/27		5,011,948
	15,000,000		Province of Quebec Canada			1.900		04/21/31		14,017,488
	10,000,000		Republic of Italy Government International Bond			2.875		10/17/29		9,426,202
	10,750,000		Republic of Italy Government International Bond			4.000		10/17/49		10,314,174
	4,250,000		Seychelles International Bond			6.500		10/11/28		3,778,760
			TOTAL FOREIGN GOVERNMENT BONDS							408,066,317
MORTGAGE BACKED - 15.8%
	1,900,000	g,i	Angel Oak Mortgage Trust			2.837		11/25/66		1,773,233
	5,100,000	g,i	Connecticut Avenue Securities Trust			1.999		12/25/41		4,863,694
	3,000,000	g,i	Connecticut Avenue Securities Trust			4.599		01/25/42		2,830,882
	100,980		Federal Home Loan Mortgage Corp (FHLMC)			4.000		06/01/42		105,105
	588,421	i	FHLMC	LIBOR 1 M + 5.920%		5.523		03/15/44		81,588
	5,396,646		FHLMC			4.000		10/01/47		5,598,167
	18,999,012		FHLMC			4.000		06/01/48		19,661,102
	906,356	i	FHLMC	LIBOR 1 M + 9.920%		9.285		06/15/48		1,000,890

225

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	4,991,275		FHLMC			4.000	%	07/01/48	$	5,174,879
	802,230	i	FHLMC	LIBOR 1 M + 9.840%		9.205		10/15/48		865,625
	4,469,233		FHLMC			4.000		09/01/49		4,630,984
	2,571,336		FHLMC			3.000		11/01/49		2,531,042
	9,205,814		FHLMC			2.000		09/25/50		1,065,881
	11,695,842		FHLMC			2.500		11/25/50		1,961,932
	15,794,976		FHLMC			2.500		02/25/51		2,755,069
	1,183,665		FHLMC			3.000		11/01/51		1,176,700
	9,584,782		FHLMC			3.000		11/01/51		9,486,936
	444,031		FHLMC			3.000		11/01/51		438,023
	1,720,654		FHLMC			3.000		11/01/51		1,703,089
	19,298,232	h	FHLMC			2.000		02/01/52		17,953,809
	21,557,857	h	FHLMC			2.500		02/01/52		20,606,155
	15,700,000	h	FHLMC			2.500		03/01/52		15,030,809
	20,530,000	h	FHLMC			2.500		03/01/52		19,618,377
	108,647		Federal Home Loan Mortgage Corp Gold (FGLMC)			5.000		06/01/36		117,588
	99,705		FGLMC			4.500		12/01/43		106,860
	99,489		FGLMC			4.500		02/01/44		106,197
	870,699		FGLMC			5.000		08/01/44		942,201
	152,901		FGLMC			3.500		04/01/45		156,008
	3,484,784		FGLMC			3.500		08/01/45		3,555,615
	1,034,875		FGLMC			4.000		12/01/45		1,083,262
	1,900,234		FGLMC			3.500		02/01/47		1,936,801
	236,223		FGLMC			4.500		06/01/47		252,030
	407,559		FGLMC			4.000		09/01/47		425,596
	76,485		FGLMC			3.500		12/01/47		77,739
	406,715		FGLMC			4.000		07/01/48		421,981
	1,673,390		FGLMC			4.500		08/01/48		1,765,909
	3,750,000		Federal National Mortgage Association (FNMA)			2.125		04/24/26		3,694,863
	96,234		FNMA			3.500		07/01/26		98,360
	5,171,235	i	FNMA			2.800		02/25/27		5,213,982
	9,176,188	i	FNMA			3.324		06/25/28		9,464,957
	15,250,000	i	FNMA			1.510		11/25/30		13,658,214
	15,500,000	i	FNMA			1.250		01/25/31		13,576,611
	325,239		FNMA			3.500		05/01/32		334,519
	4,761,897		FNMA			3.000		10/01/32		4,811,475
	18,845		FNMA			2.500		10/01/36		18,654
	45,450,000	h	FNMA			2.000		04/25/37		44,141,537
	22,530,000	h	FNMA			2.500		04/25/37		22,265,097
	13,910,000	h	FNMA			3.000		04/25/37		14,005,631
	147,649		FNMA			5.500		11/01/38		162,830
	4,080,165		FNMA			3.000		05/01/40		4,047,329
	1,175,365		FNMA			3.500		05/01/40		1,187,791
	338,939		FNMA			5.000		09/01/40		366,715
	522,970		FNMA			5.000		04/01/41		565,830
	13,769,521		FNMA			2.000		03/01/42		12,866,959
	1,634,953		FNMA			4.000		09/01/42		1,700,012
	762,449	i	FNMA	LIBOR 1 M + 5.950%		5.493		09/25/43		120,929
	782,224		FNMA			4.000		01/01/44		817,621
	43,995		FNMA			4.500		06/01/44		46,812
	290,739		FNMA			4.500		06/01/44		309,186
	136,934		FNMA			4.500		08/01/44		145,708

226

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	250,158		FNMA		4.500	%	11/01/44	$	265,281
	689,664		FNMA		4.000		01/01/45		718,109
	249,300		FNMA		4.500		03/01/45		264,041
	950,029		FNMA		4.000		06/01/45		993,217
	1,108,862		FNMA		4.000		12/01/45		1,156,808
	701,543		FNMA		3.500		01/01/46		714,664
	149,502		FNMA		4.000		01/01/46		156,004
	183,633		FNMA		4.000		03/01/46		191,990
	822,465		FNMA		4.000		04/01/46		858,189
	1,011,073		FNMA		3.500		06/01/46		1,028,874
	1,377,514		FNMA		3.500		07/01/46		1,403,282
	1,973,027		FNMA		3.500		07/01/46		2,012,356
	2,085,798		FNMA		3.500		08/01/46		2,124,158
	2,790,200		FNMA		3.000		10/01/46		2,710,397
	3,281,949		FNMA		3.500		01/01/47		3,326,638
	147,930		FNMA		4.500		05/01/47		157,270
	3,843,151		FNMA		4.000		09/01/47		3,959,544
	673,834		FNMA		4.000		10/01/47		692,376
	4,629,073		FNMA		3.500		11/01/47		4,721,148
	296,583		FNMA		4.500		11/01/47		312,446
	5,521,093		FNMA		4.000		12/01/47		5,714,522
	4,393,121		FNMA		4.000		12/01/47		4,528,278
	109,233		FNMA		3.500		01/01/48		110,845
	3,635,956		FNMA		3.500		01/01/48		3,670,491
	1,012,261		FNMA		4.500		01/01/48		1,067,342
	189,771		FNMA		4.000		02/01/48		194,774
	273,279		FNMA		4.500		02/01/48		288,142
	555,690		FNMA		4.000		03/01/48		576,354
	1,096,636		FNMA		4.500		03/01/48		1,156,230
	3,855,566		FNMA		4.000		04/01/48		3,942,036
	709,691		FNMA		4.500		05/01/48		748,297
	566,750		FNMA		4.500		05/01/48		597,579
	278,011		FNMA		5.000		08/01/48		297,870
	12,084,727		FNMA		4.500		10/01/48		13,111,252
	16,786,955		FNMA		3.000		07/01/50		16,528,814
	4,934,178		FNMA		2.000		08/25/50		649,067
	14,183,306		FNMA		2.500		11/25/50		2,062,639
	4,682,452		FNMA		3.000		02/25/51		847,552
	38,880,878		FNMA		2.000		04/01/51		36,183,373
	2,402,572		FNMA		3.000		09/01/51		2,368,340
	4,919,797		FNMA		2.500		11/25/51		707,809
	23,326,584	h	FNMA		2.000		12/01/51		21,685,451
	22,146,033	h	FNMA		2.500		01/01/52		21,162,665
	18,286,204	h	FNMA		2.000		02/01/52		17,012,228
	29,147,270	h	FNMA		2.500		02/01/52		27,852,955
	23,290,942	h	FNMA		2.500		02/01/52		22,277,445
	14,040,558	h	FNMA		2.500		02/01/52		13,414,273
	13,453,504	h	FNMA		2.500		02/01/52		12,880,055
	1,289,354		FNMA		3.000		02/01/52		1,262,794
	8,572,542		FNMA		3.500		02/01/52		8,673,311
	17,867,940	h	FNMA		2.000		03/01/52		16,612,025

227

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	16,947,163	h	FNMA		2.000	%	03/01/52	$	15,755,973
	1,145,303		FNMA		3.000		03/01/52		1,121,591
	15,300,000	h	FNMA		2.500		04/01/52		14,620,586
	33,830,000	h	FNMA		2.000		04/25/52		31,402,433
	13,859,000	h	FNMA		2.500		04/25/52		13,222,352
	103,190,000	h	FNMA		3.000		04/25/52		100,932,719
	12,510,000	h	FNMA		3.500		04/25/52		12,531,502
	13,500,000	h	FNMA		4.000		04/25/52		13,778,437
	30,840,000	h	FNMA		3.500		05/25/52		30,786,641
	1,900,000	g,i	Freddie Mac STACR REMIC Trust		3.499		10/25/41		1,752,871
	1,270,000	g,i	Freddie Mac STACR REMIC Trust		3.550		03/25/42		1,293,055
	875,000	g,i	Freddie Mac Structured Agency Credit Risk Debt Notes		2.399		08/25/33		862,535
	3,180,000	g,i	Freddie Mac Structured Agency Credit Risk Debt Notes		3.700		11/25/41		3,010,580
	12,750,000	g,i	Freddie Mac Structured Agency Credit Risk Debt Notes		2.499		02/25/42		12,405,893
	622,035		Government National Mortgage Association (GNMA)		2.690		06/15/33		624,934
	33,560		GNMA		5.000		06/20/42		36,825
	11,747,140		GNMA		2.750		01/15/45		11,889,366
	667,339		GNMA		4.000		06/20/46		83,903
	3,020,247		GNMA		3.500		12/20/46		3,067,599
	2,061,886		GNMA		3.500		01/20/47		2,095,673
	1,787,995		GNMA		3.500		10/20/50		1,807,157
	5,256,678		GNMA		3.000		07/20/51		5,196,914
	38,180,000	h	GNMA		2.000		04/20/52		36,318,725
	87,285,000	h	GNMA		2.500		04/20/52		84,656,221
	64,510,000	h	GNMA		3.000		04/20/52		63,751,504
	4,027,403	g,i	GS Mortgage-Backed Securities Trust		2.500		03/25/52		3,840,842
	4,457,485	g,i	GS Mortgage-Backed Securities Trust		2.500		03/25/52		4,066,452
	3,811,895	g,i	GS Mortgage-Backed Securities Trust		2.500		05/01/52		3,658,676
	5,947,543	g,i	JP Morgan Mortgage Trust		2.500		07/25/52		5,448,045
	3,039,183	g,i	JP Morgan Mortgage Trust		3.250		07/25/52		2,913,959
	9,735,000	g,i	JP Morgan Mortgage Trust		3.000		08/25/52		9,095,760
	4,332,833	g,i	RCKT Mortgage Trust		2.500		09/25/51		3,937,458
	6,884,800	g,i	RCKT Mortgage Trust		2.500		02/25/52		6,288,404
			TOTAL MORTGAGE BACKED						1,093,690,565
MUNICIPAL BONDS - 6.6%
	2,000,000		Brunswick & Glynn County Development Authority		3.060		04/01/25		2,005,685
	3,000,000		California Earthquake Authority		1.477		07/01/23		2,972,420
	950,000	h	California Health Facilities Financing Authority		4.353		06/01/41		966,868
	670,000	g	California Municipal Finance Authority		4.250		11/01/23		666,737
	6,400,000	g	California Municipal Finance Authority		6.375		11/15/48		6,473,140
	5,825,000		California Municipal Finance Authority		3.594		08/15/51		5,185,206
	12,250,000		Chicago Housing Authority		4.361		01/01/38		13,481,889
	16,465,000		Chicago Metropolitan Water Reclamation District-Greater Chicago		5.720		12/01/38		20,362,598
	1,000,000		Chicago Park District		4.095		01/01/26		1,035,115
	625,000		Chula Vista Municipal Financing Authority		3.775		12/01/33		655,760
	1,350,000		Chula Vista Municipal Financing Authority		3.975		12/01/38		1,402,155
	740,000		Chula Vista Municipal Financing Authority		4.075		12/01/41		766,583
	4,300,000		Chula Vista Municipal Financing Authority		4.275		12/01/48		4,486,539

228

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	5,730,000		City & County of Honolulu HI			3.944	%	09/01/34	$	5,868,912
	935,000		City & County of San Francisco CA			3.700		04/01/34		955,342
	440,000		City & County of San Francisco CA			3.750		04/01/35		450,158
	5,835,000		City & County of San Francisco CA			3.900		04/01/42		5,961,379
	5,405,000		City & County of San Francisco CA Community Facilities District			3.750		09/01/37		5,306,956
	4,610,000		City & County of San Francisco CA Community Facilities District			4.221		09/01/39		4,708,273
	5,000,000		City & County of San Francisco CA Community Facilities District			4.000		09/01/48		4,955,275
	5,480,000		City & County of San Francisco CA Community Facilities District			3.482		09/01/50		5,029,629
	1,925,000		City of Berkeley CA			3.250		09/01/35		1,939,654
	8,885,000		City of Berkeley CA			3.750		09/01/43		9,086,108
	2,490,000		City of Chicago IL			7.750		01/01/42		2,816,122
	510,000		City of Chicago IL			7.750		01/01/42		560,905
	650,000		City of Detroit MI			2.511		04/01/25		620,319
	745,000		City of Detroit MI			2.711		04/01/26		702,257
	525,000		City of Detroit MI			3.644		04/01/34		474,437
	2,750,000		City of Florence SC			4.250		12/01/34		2,817,254
	4,000,000		City of Los Angeles CA			3.500		09/01/37		4,088,310
	9,060,000		City of Los Angeles CA			3.880		09/01/38		9,250,525
	5,850,000		City of Los Angeles Department of Airports Customer Facility Charge Revenue			4.242		05/15/48		5,769,919
	870,000	g	City of Miami FL			4.808		01/01/39		920,054
	170,000		City of Mount Shasta CA			4.000		08/01/29		188,096
	190,000		City of Mount Shasta CA			3.000		08/01/32		192,736
	2,685,000		City of Oakland CA			1.830		01/15/27		2,574,857
	12,615,000		City of San Francisco CA Public Utilities Commission Water Revenue			3.303		11/01/39		11,971,437
	22,745,000		City of San Francisco CA Public Utilities Commission Water Revenue			2.825		11/01/41		19,975,203
	5,750,000		City of San Francisco CA Public Utilities Commission Water Revenue			4.185		11/01/46		5,859,482
	1,385,000		City of San Juan Capistrano CA			4.190		08/01/40		1,461,364
	5,255,000		City of Seattle WA Local Improvement District No 6751			2.999		11/01/43		4,988,914
	5,240,000		City of Seattle WA Local Improvement District No 6751			3.079		11/01/43		4,959,572
	360,000		Clean Water Services			5.701		10/01/30		426,629
	2,730,000		Commonwealth Financing Authority			3.864		06/01/38		2,825,593
	12,450,000	i	Connecticut Housing Finance Authority	SOFR + 0.650%		0.930		05/15/49		12,452,882
	5,000,000		County of Alameda CA			3.820		08/01/38		5,105,631
	1,500,000		County of Miami-Dade FL Aviation Revenue			2.218		10/01/22		1,505,801
	12,020,000		County of Miami-Dade FL Water & Sewer System Revenue			3.490		10/01/42		11,874,502
	2,730,000		County of Saline AR			4.000		06/01/37		2,787,000
	3,500,000		District of Columbia			3.432		04/01/42		3,351,585
	1,900,000		District of Columbia Water & Sewer Authority			4.814		10/01/14		2,134,758
	1,550,000	†,g,q	Finance Authority of Maine			5.375		12/15/33		174,271
	500,000	†,q	Finance Authority of Maine			5.250		06/15/34		56,216
	1,075,000	g	Florida Development Finance Corp			6.750		12/01/56		1,043,376
	20,000,000		Grant County Public Utility District No 2			2.918		01/01/40		18,135,648
	9,405,000		Grant County Public Utility District No 2			3.210		01/01/40		8,836,892

229

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	$	8,807,407
	13,265,000		Great Lakes Water Authority Water Supply System Revenue		3.473		07/01/41		12,950,253
	1,180,000		Idaho State Building Authority		3.202		09/01/37		1,191,507
	3,105,000		Jackson County Industrial Development Authority		4.250		05/01/39		3,321,823
	2,000,000		Kern County Water Agency Improvement District No 4		4.276		05/01/36		2,182,142
	450,000		Klickitat County Public Utilities		3.688		12/01/38		458,903
	1,000,000		Lavaca-Navidad River Authority		4.430		08/01/35		1,027,200
	7,690,000		Los Angeles Community College District		2.106		08/01/32		6,916,356
	1,300,000		Maine State Housing Authority		2.481		11/15/31		1,231,316
	2,585,000		Maryland Community Development Administration Housing Revenue		3.797		03/01/39		2,621,273
	3,000,000		Massachusetts Clean Energy Cooperative Corp		2.020		07/01/28		2,823,738
	2,965,000		Massachusetts St. Water Pollution Abatement		5.192		08/01/40		3,232,359
	6,000,000		Massachusetts Water Resources Authority		3.104		08/01/39		5,747,522
	10,735,000		Metropolitan Transportation Authority		5.175		11/15/49		12,282,785
	4,065,000		New York City Housing Development Corp		3.119		08/01/38		3,885,514
	2,500,000		New York City Housing Development Corp		3.720		11/01/39		2,512,102
	1,370,000		New York State Energy Research & Development Authority		2.465		10/01/26		1,322,981
	1,210,000		New York State Energy Research & Development Authority		2.665		10/01/27		1,170,467
	1,045,000		New York State Energy Research & Development Authority		2.879		10/01/28		1,009,223
	425,000		New York State Energy Research & Development Authority		4.577		04/01/35		438,430
	2,115,000		New York State Environmental Facilities Corp		3.420		07/15/26		2,171,561
	1,500,000		New York Transportation Development Corp		1.610		12/01/22		1,496,491
	7,500,000		New York Transportation Development Corp		5.000		01/01/26		8,068,970
	1,500,000	g	Ohio Air Quality Development Authority		4.250		01/15/38		1,521,428
	2,000,000	g	Ohio Air Quality Development Authority		4.500		01/15/48		2,048,970
	13,180,000		Ohio State Water Development Authority		4.879		12/01/34		14,488,344
	5,750,000	†,g,q	Oregon State Business Development Commission		6.500		04/01/31		419,750
	2,000,000	†,q	Oregon State Business Development Commission		11.500		04/01/31		120,000
	2,665,000		Papio-Missouri River Natural Resource District		2.198		12/15/25		2,618,744
	2,080,000		Papio-Missouri River Natural Resource District		2.318		12/15/26		2,055,585
	3,250,000		Papio-Missouri River Natural Resource District		2.482		12/15/27		3,253,309
	2,725,000		Pend Oreille County Public Utility District No Box Canyon		5.000		01/01/30		2,733,985
	7,250,000	g	Pennsylvania Economic Development Financing Authority		10.000		12/01/29		7,074,622
	275,000	h	Pharr Economic Development Corp		3.216		08/15/27		274,050

230

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	1,110,000	h	Pharr Economic Development Corp		3.401	%	08/15/29	$	1,107,525
	1,735,000	g,q	Public Finance Authority		9.000		06/01/29		1,732,925
	300,000		Redevelopment Authority of the City of Philadelphia		1.377		09/01/25		282,769
	1,750,000		Redevelopment Authority of the City of Philadelphia		3.172		09/01/41		1,607,560
	1,000,000		Rhode Island Housing & Mortgage Finance Corp		3.300		10/01/39		1,003,076
	1,450,000		Rhode Island Housing & Mortgage Finance Corp		3.400		10/01/44		1,448,771
	6,950,000		Rhode Island Housing & Mortgage Finance Corp		3.500		10/01/51		7,054,702
	1,000,000		San Francisco City & County Redevelopment Agency		3.533		08/01/25		1,003,560
	1,000,000		San Francisco City & County Redevelopment Agency		4.375		08/01/44		1,022,416
	250,000		Sangamon County Water Reclamation District		2.507		01/01/29		241,192
	2,500,000		Sangamon County Water Reclamation District		2.907		01/01/34		2,326,352
	2,050,000		Sangamon County Water Reclamation District		3.272		01/01/37		1,917,977
	3,000,000		Semitropic Improvement District		2.499		12/01/25		2,962,079
	1,000,000		Semitropic Improvement District of the Semitropic Water Storage District		3.293		12/01/35		959,543
	130,000	g	South Davis Sewer District		3.750		12/01/22		129,654
	1,000,000		South Davis Sewer District		4.125		12/01/32		1,053,534
	1,100,000		South Davis Sewer District		4.500		12/01/37		1,173,412
	2,090,000		State of California		4.600		04/01/38		2,286,465
	2,480,000		State of California		4.988		04/01/39		2,572,756
	1,000,000		State of Texas		3.726		08/01/43		1,019,816
	6,625,000		Stockton Public Financing Authority		3.610		10/01/40		6,715,236
	665,000		Sustainable Energy Utility, Inc		1.650		09/15/22		665,650
	2,400,000	g	Syracuse Industrial Development Agency		5.000		01/01/36		1,807,623
	1,000,000		Texas Water Development Board		3.500		10/15/37		1,037,225
	7,500,000		Texas Water Development Board		4.190		10/15/43		8,001,732
	3,000,000		Texas Water Development Board		3.700		10/15/47		3,123,965
	3,000,000		Texas Water Development Board		4.648		04/15/50		3,170,680
	2,000,000		University of New Mexico		3.532		06/20/32		2,064,231
	4,400,000		Upper Santa Clara Valley Joint Powers Authority		3.875		08/01/48		4,449,249
	5,000,000		Vermont Educational & Health Buildings Financing Agency		4.000		12/01/42		5,225,434
	750,000		Vermont Educational & Health Buildings Financing Agency		4.000		12/01/46		781,699
	1,000,000	g	Warm Springs Reservation Confederated Tribe		3.300		11/01/27		997,685
	1,250,000	g	Warm Springs Reservation Confederated Tribe		3.550		11/01/32		1,243,023
	530,000		Washington County Clean Water Services		5.078		10/01/24		562,345
	1,905,000	†,g,q	Washington Economic Development Finance Authority		7.500		01/01/32		1,238,250
	650,000		Yuba City Public Financing Authority		3.960		06/01/32		683,233
	1,500,000		Yuba City Public Financing Authority		4.320		06/01/42		1,570,244
	1,000,000		Yuba Levee Financing Authority		3.170		09/01/22		1,005,769
			TOTAL MUNICIPAL BONDS						456,353,395

231

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
U.S. TREASURY SECURITIES - 11.2%
$	14,543,000		United States Treasury Bond			1.875	%	02/15/41	$	12,949,519
	9,700,000		United States Treasury Bond			2.250		05/15/41		9,157,027
	56,467,800		United States Treasury Bond			2.250		02/15/42		54,464,958
	46,377,000		United States Treasury Bond			1.875		11/15/51		40,681,325
	2,500,000		United States Treasury Bond			3.125		05/15/48		2,791,211
	2,500,000		United States Treasury Bond			3.000		02/15/49		2,747,949
	22,288,800	k	United States Treasury Inflation Indexed Bonds			0.500		04/15/24		23,425,877
	13,694,000	k	United States Treasury Inflation Indexed Bonds			0.125		10/15/24		14,324,138
	15,100,000		United States Treasury Note			0.125		12/31/22		14,953,719
	31,140,000		United States Treasury Note			0.125		03/31/23		30,654,654
	7,450,000		United States Treasury Note			0.125		08/31/23		7,248,035
	35,655,000	e	United States Treasury Note			1.500		02/29/24		35,135,495
	1,092,000		United States Treasury Note			1.875		08/31/24		1,076,772
	1,395,000		United States Treasury Note			2.250		10/31/24		1,386,608
	67,316,000		United States Treasury Note			1.750		03/15/25		65,890,794
	620,000		United States Treasury Note			2.875		04/30/25		626,394
	175,865,000		United States Treasury Note			1.875		02/28/27		171,152,367
	3,235,000		United States Treasury Note			0.500		10/31/27		2,904,171
	6,025,000		United States Treasury Note			0.625		11/30/27		5,439,445
	46,750,000		United States Treasury Note			1.125		08/31/28		43,072,089
	9,000,000		United States Treasury Note			1.375		10/31/28		8,413,594
	49,685,000		United States Treasury Note			1.875		02/28/29		47,961,551
	181,497,000		United States Treasury Note			1.875		02/15/32		174,293,838
			TOTAL U.S. TREASURY SECURITIES							770,751,530
			TOTAL GOVERNMENT BONDS							3,006,806,961
			(Cost $3,095,612,543)
STRUCTURED ASSETS - 12.0%
ASSET BACKED - 4.7%
	324,688	g	AMSR Trust			1.819		04/17/37		307,924
			Series - 2020 SFR1 (Class A)
	450,000	g	AMSR Trust			3.148		01/19/39		431,105
			Series - 2019 SFR1 (Class C)
	400,000	g	AMSR Trust			3.247		01/19/39		378,760
			Series - 2019 SFR1 (Class D)
	1,135,787	g,i	AREIT Trust	LIBOR 1 M + 1.134%		1.184		09/14/36		1,131,855
			Series - 2019 CRE3 (Class A)
	5,000,000	g,i	BFLD Trust	LIBOR 1 M + 2.100%		2.497		10/15/35		4,937,424
			Series - 2020 EYP (Class C)
	123,707	i	C-BASS Trust	LIBOR 1 M + 0.160%		0.617		07/25/36		119,868
			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)
	1,477,810	i	Chase Funding Loan Acquisition Trust	LIBOR 1 M + 0.855%		1.312		06/25/34		1,425,598
			Series - 2004 OPT1 (Class M1)
	800,188	g	Corevest American Finance Trust			1.832		03/15/50		765,424
			Series - 2020 1 (Class A1)
	2,209,986		Delta Air Lines Pass Through Trust			4.250		07/30/23		2,213,900
			Series - 2015 1 (Class B)

232

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	2,850,000		Delta Air Lines Pass Through Trust			3.204	%	04/25/24	$	2,852,428
			Series - 2019 1 (Class AA)
	13,700,000		Delta Air Lines Pass Through Trust			3.404		04/25/24		13,592,541
			Series - 2019 1 (Class A)
	7,009,380		Delta Air Lines Pass Through Trust			2.000		06/10/28		6,386,711
			Series - 2020 1 (Class AA)
	18,067,248		Delta Air Lines Pass Through Trust			2.500		06/10/28		16,771,257
			Series - 2020 1 (Class A)
	852,750	g	Domino’s Pizza Master Issuer LLC			4.474		10/25/45		859,644
			Series - 2015 1A (Class A2II)
	774,000	g	Domino’s Pizza Master Issuer LLC			4.116		07/25/48		777,646
			Series - 2018 1A (Class A2I)
	321,128	g,i	Ellington Loan Acquisition Trust	LIBOR 1 M + 1.100%		1.557		05/25/37		320,390
			Series - 2007 2 (Class A2C)
	3,781,646	g	GoodLeap Sustainable Home Solutions Trust			2.100		05/20/48		3,484,049
			Series - 2021 3CS (Class A)
	4,088,936	g	GoodLeap Sustainable Home Solutions Trust			1.930		07/20/48		3,701,712
			Series - 2021 4GS (Class A)
	14,750,051	g	GoodLeap Sustainable Home Solutions Trust			2.310		10/20/48		13,508,825
			Series - 2021 5CS (Class A)
	5,070,000	g	GoodLeap Sustainable Home Solutions Trust			2.560		10/20/48		4,570,477
			Series - 2021 5CS (Class B)
	5,157,770	g	GoodLeap Sustainable Home Solutions Trust			2.700		01/20/49		4,822,729
			Series - 2022 1GS (Class A)
	3,396,863	g	GoodLeap Sustainable Home Solutions Trust			2.940		01/20/49		3,183,404
			Series - 2022 1GS (Class B)
	3,250,000	g	Grace Trust			2.347		12/10/40		2,929,593
			Series - 2020 GRCE (Class A)
	7,789,000	g	GSCG Trust			2.936		09/06/34		7,629,424
			Series - 2019 600C (Class A)
	774,243	g	HERO Funding Trust			3.840		09/21/40		778,390
			Series - 2015 1A (Class A)
	181,539	g	HERO Funding Trust			3.990		09/21/40		182,211
			Series - 2014 2A (Class A)
	913,842	g	HERO Funding Trust			3.750		09/20/41		910,071
			Series - 2016 2A (Class A)
	742,793	g	HERO Funding Trust			4.050		09/20/41		746,237
			Series - 2016 1A (Class A)
	1,877,821	g	HERO Funding Trust			3.080		09/20/42		1,853,801
			Series - 2016 3A (Class A1)
	1,694,188	g	HERO Funding Trust			3.910		09/20/42		1,688,221
			Series - 2016 3A (Class A2)
	1,719,941	g	HERO Funding Trust			3.570		09/20/47		1,704,693
			Series - 2016 4A (Class A1)
	1,700,896	g	HERO Funding Trust			3.710		09/20/47		1,693,672
			Series - 2017 1A (Class A1)
	254,806	g	HERO Funding Trust			4.290		09/20/47		254,837
			Series - 2016 4A (Class A2)
	2,859,717	g	HERO Funding Trust			3.190		09/20/48		2,812,494
			Series - 2017 3A (Class A1)
	2,676,015	g	HERO Funding Trust			3.950		09/20/48		2,640,546
			Series - 2017 3A (Class A2)

233

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	1,093,324	g	HERO Funding Trust			4.070	%	09/20/48	$	1,090,238
			Series - 2017 2A (Class A2)
	3,874,911	g	HERO Funding Trust			4.670		09/20/48		3,912,777
			Series - 2018 1A (Class A2)
	2,813,382	g	HERO Funding Trust			2.720		09/20/57		2,709,195
			Series - 2020 1A (Class A)
	30,893	i	Home Equity Asset Trust	LIBOR 1 M + 1.500%		3.986		06/25/33		30,880
			Series - 2003 1 (Class M1)
	499,977	g,i	Invitation Homes Trust	LIBOR 1 M + 1.250%		1.691		01/17/38		499,712
			Series - 2018 SFR4 (Class B)
	4,147,178	g	Loanpal Solar Loan Ltd			2.750		07/20/47		3,932,073
			Series - 2020 2GF (Class A)
	2,182,906	g	Loanpal Solar Loan Ltd			2.290		01/20/48		1,994,571
			Series - 2021 1GS (Class A)
	2,957,772	g	Loanpal Solar Loan Ltd			2.840		01/20/48		2,694,530
			Series - 2021 1GS (Class B)
	6,420,580	g	Loanpal Solar Loan Ltd			2.220		03/20/48		5,950,749
			Series - 2021 2GS (Class A)
	2,633,003	†,g	Mosaic Solar Loan Trust			0.000		04/20/46		2,290,713
			Series - 2020 1A (Class R)
	1,824,198	g	Mosaic Solar Loan Trust			2.100		04/20/46		1,723,376
			Series - 2020 1A (Class A)
	2,317,629	g	Mosaic Solar Loan Trust			3.100		04/20/46		2,222,508
			Series - 2020 1A (Class B)
	6,539,645	g	Mosaic Solar Loan Trust			1.920		06/20/52		5,999,417
			Series - 2021 3A (Class B)
	2,396,888	g	Mosaic Solar Loans LLC			3.820		06/22/43		2,367,076
			Series - 2017 2A (Class A)
	4,178,823	g	Mosaic Solar Loans LLC			1.640		04/22/47		3,823,030
			Series - 2021 2A (Class A)
	290,000	g,i	MSCG Trust			3.462		06/07/35		229,222
			Series - 2015 ALDR (Class D)
	306,699	g	MVW Owner Trust			2.420		12/20/34		305,393
			Series - 2017 1A (Class A)
	2,275,000	g	Progress Residential Trust			2.082		10/17/38		2,027,999
			Series - 2021 SFR8 (Class D)
	700,000	g	Progress Residential Trust			2.711		11/17/40		617,992
			Series - 2021 SFR9 (Class D)
	4,000,000		PSNH Funding LLC			3.506		08/01/28		4,056,488
			Series - 2018 1 (Class A2)
	842,641	g	Renew			3.670		09/20/52		823,294
			Series - 2017 1A (Class A)
	2,340,145	g	Renew			3.950		09/20/53		2,308,139
			Series - 2018 1 (Class A)
	4,709,053	g	Renew			2.060		11/20/56		4,380,873
			Series - 2021 1 (Class A)
	11,201,840		SCE Recovery Funding LLC			0.861		11/15/31		10,085,193
	63,350	†,g	SolarCity LMC			4.800		11/20/38		60,715
			Series - 2013 1 (Class A)
	178,918	i	Structured Asset Securities Corp Mortgage Loan Trust	LIBOR 1 M + 1.500%		1.731		04/25/35		179,254
			Series - 2005 7XS (Class 2A1A)
	2,050,000	g,i	STWD Mortgage Trust	LIBOR 1 M + 1.955%		2.352		11/15/36		2,006,349
			Series - 2021 LIH (Class C)

234

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	7,214,100	g	Sunnova Helios VII Issuer LLC		2.030	%	10/20/48	$	6,657,497
			Series - 2021 C (Class A)
	4,045,417	g	Sunnova Helios VIII Issuer LLC		2.790		02/22/49		3,871,493
			Series - 2022 A (Class A)
	5,318,043	g	Sunrun Athena Issuer LLC		5.310		04/30/49		5,466,697
			Series - 2018 1 (Class A)
	6,789,618	g	Sunrun Atlas Issuer LLC		3.610		02/01/55		6,654,262
			Series - 2019 2 (Class A)
	14,945,257	g	Sunrun Callisto Issuer LLC		3.980		06/30/54		14,703,526
			Series - 2019 1A (Class A)
	6,035,340	g	Sunrun Callisto Issuer LLC		2.270		01/30/57		5,494,116
			Series - 2021 2A (Class A)
	9,549,966	g	Sunrun Vulcan Issuer LLC		2.460		01/30/52		8,798,006
			Series - 2021 1A (Class A)
	10,178,769	g	TES LLC		4.330		10/20/47		10,030,283
			Series - 2017 1A (Class A)
	3,500,000	g	TES LLC		7.740		10/20/47		3,469,931
			Series - 2017 1A (Class B)
	4,248,770	g	TES LLC		4.120		02/20/48		4,236,882
			Series - 2017 2A (Class A)
	2,095,068	g	Tesla Auto Lease Trust		2.160		10/20/22		2,097,755
			Series - 2019 A (Class A3)
	4,125,000	g	Tesla Auto Lease Trust		2.200		11/21/22		4,131,896
			Series - 2019 A (Class A4)
	1,650,000	g	Tesla Auto Lease Trust		5.480		05/22/23		1,666,551
			Series - 2019 A (Class E)
	1,000,000	g	Tesla Auto Lease Trust		2.330		02/20/24		993,947
			Series - 2020 A (Class D)
	6,650,000	g	Tesla Auto Lease Trust		0.660		03/20/25		6,404,363
			Series - 2021 A (Class A4)
	10,250,000	g	Tesla Auto Lease Trust		1.340		03/20/25		9,912,827
			Series - 2021 A (Class D)
	4,500,000	g	Tesla Auto Lease Trust		0.600		09/22/25		4,344,653
			Series - 2021 B (Class A3)
	7,000,000	g	Tesla Auto Lease Trust		1.320		09/22/25		6,636,059
			Series - 2021 B (Class D)
	9,500,000		Toyota Auto Receivables Owner Trust		0.260		11/17/25		9,186,988
			Series - 2021 B (Class A3)
	9,900,000		Toyota Auto Receivables Owner Trust		0.530		10/15/26		9,268,922
			Series - 2021 B (Class A4)
	573,339	g	Tricon American Homes Trust		2.928		01/17/36		569,116
			Series - 2017 SFR2 (Class A)
	100,000	g	Tricon American Homes Trust		3.275		01/17/36		99,031
			Series - 2017 SFR2 (Class B)
	325,000	g	Tricon American Homes Trust		2.049		07/17/38		300,093
			Series - 2020 SFR1 (Class B)
	5,415,672	g	Vivint Colar Financing V LLC		4.730		04/30/48		5,434,730
			Series - 2018 1A (Class A)
	9,431,813	g	Vivint Colar Financing V LLC		7.370		04/30/48		9,463,866
			Series - 2018 1A (Class B)
	4,684,078	g	Vivint Solar Financing VII LLC		2.210		07/31/51		4,221,641
			Series - 2020 1A (Class A)
			TOTAL ASSET BACKED						324,808,366

235

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
OTHER MORTGAGE BACKED - 7.3%
$	2,165,000	g,i	20 Times Square Trust			3.100	%	05/15/35	$	2,121,248
			Series - 2018 20TS (Class B)
	13,321	g,i	Agate Bay Mortgage Trust			3.500		09/25/45		13,225
			Series - 2015 6 (Class A9)
	4,075,000	g,i	Alen Mortgage Trust	LIBOR 1 M + 2.250%		2.647		04/15/34		3,980,441
			Series - 2021 ACEN (Class C)
	629,217		Banc of America Commercial Mortgage Trust			3.019		07/15/49		628,487
			Series - 2016 UB10 (Class ASB)
	5,000,000	g	BANK			2.500		10/17/52		3,989,170
			Series - 2019 BN21 (Class D)
	6,500,000	i	BANK			3.517		10/17/52		6,017,363
			Series - 2019 BN21 (Class C)
	2,000,000		BANK			3.203		12/15/52		1,934,032
			Series - 2019 BN23 (Class AS)
	2,500,000	i	BANK			2.918		12/15/53		2,167,110
			Series - 2020 BN30 (Class MCDE)
	8,000,000	i	BANK			3.461		11/15/62		7,580,883
			Series - 2019 BN22 (Class C)
	5,750,000	g	BBCMS Trust			3.593		09/15/32		5,742,354
			Series - 2015 MSQ (Class A)
	200,000	g	BBCMS Trust			4.197		08/10/35		204,263
			Series - 2015 SRCH (Class A2)
	3,000,000	g,i	BBCMS Trust			3.688		02/15/53		2,857,130
			Series - 2020 C6 (Class F5TA)
	1,000,000		Benchmark Mortgage Trust			3.419		08/15/52		981,618
			Series - 2019 B12 (Class AS)
	5,500,000	g,i	Benchmark Mortgage Trust			3.899		03/15/62		5,238,520
			Series - 2019 B10 (Class 3CCA)
	5,200,000	g	BMO 360A			3.776		02/15/42		5,167,653
			Series - 2022 C1 (Class 360A)
	3,500,000	g,i	BMO 360C			3.939		02/15/42		3,268,965
			Series - 2022 C1 (Class 360C)
	2,294,153	g,i	BX Commercial Mortgage Trust	LIBOR 1 M + 0.920%		1.317		10/15/36		2,284,163
			Series - 2019 XL (Class A)
	4,250,000	g,i	BX Commercial Mortgage Trust	LIBOR 1 M + 1.250%		1.647		10/15/36		4,211,247
			Series - 2019 XL (Class C)
	10,955,194	g,i	BX Commercial Mortgage Trust	LIBOR 1 M + 1.197%		1.594		10/15/38		10,693,854
			Series - 2021 XL2 (Class C)
	12,000,000	g,i	BX TRUST			2.141		01/17/39		11,805,463
			Series - 2022 AHP (Class B)
	2,901,500	g,i	CCRC Affordable Multifamily Housing Mortgage Trust			5.706		06/25/34		3,074,586
			Series - 2017 Q005 (Class B)
	2,000,000	i	CD Mortgage Trust			3.879		11/10/49		1,937,793
			Series - 2016 CD2 (Class B)
	5,000,000	i	Citigroup Commercial Mortgage Trust			3.758		04/10/48		4,948,555
			Series - 2015 GC29 (Class B)
	4,000,000		Citigroup Commercial Mortgage Trust			3.300		11/10/52		3,906,479
			Series - 2019 GC43 (Class AS)
	5,000,000		Citigroup Commercial Mortgage Trust			3.018		08/10/56		4,793,931
			Series - 2019 GC41 (Class AS)
	44,336	i	Citigroup Mortgage Loan Trust	LIBOR 1 M + 0.750%		1.207		01/25/36		44,270
			Series - 2006 WFH1 (Class M4)

236

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	5,341,000	g,i	Cityline Commercial Mortgage Trust		2.778	%	11/10/31	$	5,289,168
			Series - 2016 CLNE (Class A)
	3,315,000	g	COMM Mortgage Trust		4.353		08/10/30		3,349,826
			Series - 2013 300P (Class A1)
	4,125,000	g	COMM Mortgage Trust		3.376		01/10/39		3,986,563
			Series - 2022 HC (Class C)
	2,000,000		COMM Mortgage Trust		4.701		03/10/47		2,019,045
			Series - 2014 UBS2 (Class B)
	2,000,000	i	COMM Mortgage Trust		4.703		08/10/47		2,017,349
			Series - 2014 CR19 (Class B)
	1,000,000	g,i	COMM Mortgage Trust		4.705		08/10/47		939,425
			Series - 2014 CR19 (Class D)
	403,464		COMM Mortgage Trust		3.040		02/10/48		405,320
			Series - 2015 LC19 (Class ASB)
	3,500,000	g,i	COMM Mortgage Trust		4.106		03/10/48		3,290,829
			Series - 2015 CR22 (Class D)
	2,000,000	i	COMM Mortgage Trust		4.288		05/10/48		1,861,223
			Series - 2015 CR23 (Class D)
	360,000	i	COMM Mortgage Trust		3.463		08/10/48		323,995
			Series - 2015 CR24 (Class D)
	2,250,000		COMM Mortgage Trust		3.263		08/15/57		2,183,245
			Series - 2019 GC44 (Class AM)
	6,000,000	g,i	Commercial Mortgage Pass Through Certificates		3.896		01/10/39		5,792,190
			Series - 2022 HC (Class D)
	1,870,000	g,i	Connecticut Avenue Securities		3.399		11/25/41		1,734,324
			Series - 2021 R02 (Class 2B1)
	565,000	g,i	Connecticut Avenue Securities Trust		1.649		10/25/41		545,834
			Series - 2021 R01 (Class 1M2)
	1,770,000	g,i	Connecticut Avenue Securities Trust		1.749		12/25/41		1,675,417
			Series - 2021 R03 (Class 1M2)
	2,040,000	g,i	Connecticut Avenue Securities Trust		2.849		12/25/41		1,846,840
			Series - 2021 R03 (Class 1B1)
	6,070,000	g,i	Connecticut Avenue Securities Trust		3.599		03/25/42		6,134,743
			Series - 2022 R03 (Class 1M2)
	78,891	i	Countrywide Home Loan Mortgage Pass Through Trust		2.529		11/20/34		80,069
			Series - 2004 HYB6 (Class A2)
	14,000,000	g	CPT Mortgage Trust		2.865		11/13/39		13,210,896
			Series - 2019 CPT (Class A)
	2,500,000	g,i	CPT Mortgage Trust		2.997		11/13/39		2,278,133
			Series - 2019 CPT (Class C)
	2,000,000	g,i	CPT Mortgage Trust		2.997		11/13/39		1,706,288
			Series - 2019 CPT (Class E)
	5,000,000	g,i	Credit Suisse Commercial Mortgage Trust		3.728		11/10/32		4,907,044
			Series - 2017 CALI (Class B)
	310,709	g,i	Credit Suisse Commercial Mortgage Trust		3.500		02/25/48		305,294
			Series - 2018 J1 (Class A11)
	3,360,285	g,i	Credit Suisse Mortgage Capital Certificates		2.405		10/25/66		3,201,674
			Series - 2021 NQM8 (Class A3)
	3,600,000	g,i	CSAIL Commercial Mortgage Trust		3.677		06/15/37		3,251,176
			Series - 2017 C8 (Class 85BB)
	1,600,000	g,i	CSMC Series		3.388		10/25/59		1,540,516
			Series - 2019 NQM1 (Class M1)
	1,824,549	g,i	CSMC Trust		3.500		02/25/48		1,792,752
			Series - 2018 J1 (Class A2)

237

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	3,440,000	g,i	DBUBS Mortgage Trust			3.530	%	10/10/34	$	3,313,004
			Series - 2017 BRBK (Class D)
	102,725,000	g,i	DOLP Trust			0.665		05/10/41		4,700,973
			Series - 2021 NYC (Class X)
	12,500,000	g,i	ELP Commercial Mortgage Trust	LIBOR 1 M + 1.320%		1.717		11/15/38		12,233,826
			Series - 2021 ELP (Class C)
	7,500,000	g,i	ELP Commercial Mortgage Trust	LIBOR 1 M + 2.118%		2.515		11/15/38		7,259,897
			Series - 2021 ELP (Class E)
	146,415	i	Fieldstone Mortgage Investment Trust	LIBOR 1 M + 0.735%		1.192		12/25/35		145,177
			Series - 2005 2 (Class M2)
	271,069	g,i	Flagstar Mortgage Trust			4.048		10/25/47		270,294
			Series - 2017 2 (Class B3)
	18,931	g,i	Flagstar Mortgage Trust			4.000		09/25/48		18,984
			Series - 2018 5 (Class A11)
	1,322,138	g,i	Flagstar Mortgage Trust			2.500		04/25/51		1,206,497
			Series - 2021 2 (Class A4)
	4,105,435	g,i	Flagstar Mortgage Trust			2.500		06/01/51		3,745,491
			Series - 2021 4 (Class A21)
	13,268,071	g,i	Flagstar Mortgage Trust			3.000		10/25/51		12,592,235
			Series - 2021 10IN (Class A1)
	7,200,000		Freddie Mac Multiclass Certificates Series			1.878		01/25/31		6,793,368
			Series - 2021 P009 (Class A2)
	2,892,705		Freddie Mac Multiclass Certificates Series			1.204		09/25/31		2,674,511
			Series - 2021 P011 (Class A1)
	6,778,008		Freddie Mac Multifamily ML Certificates			1.877		07/25/37		5,944,466
			Series - 2021 ML08 (Class )
	40,175,891	†,i	Freddie Mac Multifamily ML Certificates			1.769		11/25/37		5,945,883
			Series - 2021 ML08 (Class XCA)
	3,207,892		Freddie Mac Multifamily ML Certificates			1.896		11/25/37		2,772,873
			Series - 2021 ML08 (Class )
	9,971,409		Freddie Mac Multifamily ML Certificates			2.340		07/25/41		9,165,928
			Series - 2021 ML12 (Class AUS)
	4,070,845		Freddie Mac Multifamily Structured Pass Through Certificates			1.555		01/25/36		3,727,867
			Series - 2020 Q014 (Class A1)
	10,000,000		Freddie Mac Multifamily Variable Rate Certificate			3.150		10/15/36		10,011,511
			Series - 2022 M068 (Class A)
	6,123,632		Freddie Mac Multifamily Variable Rate Certificate			1.761		09/15/38		5,756,832
			Series - 2020 M061 (Class A)
	3,295,000	g,i	Freddie Mac STACR REMIC Trust			1.749		01/25/34		3,241,518
			Series - 2021 DNA5 (Class M2)
	2,590,000	g,i	Freddie Mac STACR REMIC Trust			2.599		01/25/42		2,421,182
			Series - 2022 DNA1 (Class M2)
	2,500,000	g,i	GCT Commercial Mortgage Trust	LIBOR 1 M + 1.250%		1.647		02/15/38		2,454,645
			Series - 2021 GCT (Class B)
	2,188,000	g,i	GS Mortgage Securities Corp II			4.577		03/10/33		2,181,565
			Series - 2018 GS10 (Class WLSB)
	1,500,000	g,i	GS Mortgage Securities Trust	LIBOR 1 M + 1.090%		1.490		10/15/31		1,477,292
			Series - 2018 HART (Class A)
	93,000	i	GS Mortgage Securities Trust			3.958		11/10/49		86,142
			Series - 2016 GS4 (Class C)

238

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	45,371	g,i	GS Mortgage-Backed Securities Corp Trust			4.000	%	11/25/49	$	45,434
			Series - 2019 PJ2 (Class A1)
	118,712	g,i	GS Mortgage-Backed Securities Corp Trust			4.000		11/25/49		118,875
			Series - 2019 PJ2 (Class A4)
	1,223,394	g,i	GS Mortgage-Backed Securities Corp Trust			3.500		07/25/50		1,217,184
			Series - 2020 PJ2 (Class A4)
	497,644	g,i	GS Mortgage-Backed Securities Corp Trust			3.000		01/25/51		484,727
			Series - 2020 PJ4 (Class A4)
	387,898	i	GS Mortgage-Backed Securities Corp Trust			3.000		03/27/51		374,153
			Series - 2020 PJ5 (Class A4)
	946,974	g,i	GS Mortgage-Backed Securities Corp Trust			2.500		05/25/51		871,300
			Series - 2020 PJ6 (Class A4)
	2,587,670	g,i	GS Mortgage-Backed Securities Corp Trust			2.500		10/25/51		2,362,841
			Series - 2021 PJ5 (Class A4)
	5,374,442	g,i	GS Mortgage-Backed Securities Corp Trust			3.000		06/25/52		5,063,735
			Series - 2022 PJ2 (Class A36)
	496,534	g,i	GS Mortgage-Backed Securities Trust			3.669		05/25/50		479,765
			Series - 2020 PJ1 (Class B2)
	1,093,711	g,i	GS Mortgage-Backed Securities Trust			2.500		07/25/51		998,881
			Series - 2021 PJ2 (Class A4)
	4,608,706	g,i	GS Mortgage-Backed Securities Trust			2.500		01/25/52		4,209,108
			Series - 2021 PJ8 (Class A4)
	9,855,730	g,i	GS Mortgage-Backed Securities Trust			2.500		01/25/52		8,993,206
			Series - 2021 PJ7 (Class A4)
	7,790,062	g,i	GS MortSecurities Trust			2.500		11/25/51		7,105,744
			Series - 2021 PJ6 (Class A4)
	249,199	i	HarborView Mortgage Loan Trust	LIBOR 1 M + 0.620%		1.069		08/19/45		245,302
			Series - 2005 11 (Class 2A1A)
	3,500,000	g	Hudson Yards Mortgage Trust			2.835		08/10/38		3,378,643
			Series - 2016 10HY (Class A)
	2,500,000	g,i	Hudson Yards Mortgage Trust			2.977		08/10/38		2,323,429
			Series - 2016 10HY (Class E)
	2,500,000	g,i	Hudson Yards Mortgage Trust			2.977		08/10/38		2,422,110
			Series - 2016 10HY (Class B)
	5,750,000	g,i	Hudson Yards Mortgage Trust			2.977		08/10/38		5,484,448
			Series - 2016 10HY (Class C)
	11,650,000	g,i	Hudson Yards Mortgage Trust			3.443		07/10/39		10,823,206
			Series - 2019 30HY (Class D)
	5,000,000	g,i	Hudson Yards Mortgage Trust			2.943		12/10/41		4,323,753
			Series - 2019 55HY (Class E)
	1,500,000	g,i	Hudson Yards Mortgage Trust			2.943		12/10/41		1,341,034
			Series - 2019 55HY (Class D)
	2,500,000	g,i	Hudson Yards Mortgage Trust			2.943		12/10/41		2,091,453
			Series - 2019 55HY (Class F)
	12,235	i	Impac CMB Trust	LIBOR 1 M + 0.660%		1.117		03/25/35		12,345
			Series - 2004 11 (Class 2A1)
	440,000	g,i	Imperial Fund Mortgage Trust			3.531		10/25/55		422,236
			Series - 2020 NQM1 (Class M1)
	4,000,000	g,i	J.P. Morgan Chase Commercial Mortgage Securities Trust	LIBOR 1 M + 1.370%		1.767		10/15/33		3,929,591
			Series - 2020 609M (Class A)

239

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	1,600,000	g,i	JP Morgan Chase Commercial Mortgage Securities Corp			4.077	%	01/15/46	$	1,572,177
			Series - 2013 C13 (Class D)
	2,159,762	g,i	JP Morgan Mortgage Trust	LIBOR 1 M - 0.000%		2.102		12/25/44		2,190,725
			Series - 2015 1 (Class B1)
	15,143	g,i	JP Morgan Mortgage Trust			3.500		05/25/45		14,863
			Series - 2015 3 (Class A19)
	242,826	g,i	JP Morgan Mortgage Trust			3.500		10/25/45		233,825
			Series - 2015 6 (Class A13)
	183,512	g,i	JP Morgan Mortgage Trust			3.500		05/25/46		181,150
			Series - 2016 1 (Class A13)
	68,662	g,i	JP Morgan Mortgage Trust			3.500		05/25/47		67,224
			Series - 2017 2 (Class A13)
	437,461	g,i	JP Morgan Mortgage Trust			3.500		09/25/48		421,423
			Series - 2018 3 (Class A13)
	1,212,197	g,i	JP Morgan Mortgage Trust			3.500		10/25/48		1,174,550
			Series - 2018 5 (Class A13)
	235,142	g,i	JP Morgan Mortgage Trust			3.500		10/25/48		231,889
			Series - 2018 4 (Class A13)
	795,582	g,i	JP Morgan Mortgage Trust			3.050		10/26/48		798,430
			Series - 2017 5 (Class A2)
	70,760	g,i	JP Morgan Mortgage Trust			4.000		01/25/49		70,861
			Series - 2018 8 (Class A13)
	99,485	g,i	JP Morgan Mortgage Trust			4.000		02/25/49		99,628
			Series - 2018 9 (Class A13)
	99,013	g,i	JP Morgan Mortgage Trust			4.000		05/25/49		99,228
			Series - 2019 1 (Class A3)
	159,235	g,i	JP Morgan Mortgage Trust			4.000		05/25/49		159,582
			Series - 2019 1 (Class A15)
	640,938	g,i	JP Morgan Mortgage Trust			4.629		09/25/49		623,970
			Series - 2019 3 (Class B1)
	499,335	g,i	JP Morgan Mortgage Trust	LIBOR 1 M + 0.950%		1.407		10/25/49		500,367
			Series - 2019 INV1 (Class A11)
	869,474	g,i	JP Morgan Mortgage Trust			3.864		06/25/50		846,346
			Series - 2020 1 (Class B2)
	4,208,142	g,i	JP Morgan Mortgage Trust			2.500		10/25/51		3,843,064
			Series - 2021 6 (Class A15)
	2,191,353	g,i	JP Morgan Mortgage Trust			2.500		11/25/51		2,001,308
			Series - 2021 7 (Class A15)
	2,761,210	g,i	JP Morgan Mortgage Trust			2.500		12/25/51		2,522,048
			Series - 2021 8 (Class A15)
	1,120,049	g,i	JP Morgan Mortgage Trust			2.500		12/25/51		1,022,835
			Series - 2021 10 (Class A15)
	3,870,322	g,i	JP Morgan Mortgage Trust			2.500		01/25/52		3,533,236
			Series - 2021 11 (Class A15)
	1,082,697	g,i	JP Morgan Mortgage Trust			2.500		02/25/52		988,584
			Series - 2021 12 (Class A15)
	1,833,571	g,i	JP Morgan Mortgage Trust			2.500		05/25/52		1,673,619
			Series - 2021 14 (Class A15)
	5,698,870	g,i	JP Morgan Mortgage Trust			2.500		06/25/52		5,202,299
			Series - 2021 15 (Class A15)

240

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	2,118,919	g,i	JP Morgan Mortgage Trust			3.000	%	08/25/52	$	1,997,745
			Series - 2022 2 (Class A25)
	2,400,000	i	JPMBB Commercial Mortgage Securities Trust			4.480		09/15/47		2,329,311
			Series - 2014 C23 (Class C)
	775,421	g	Ladder Capital Commercial Mortgage Securities			3.575		02/15/36		769,153
			Series - 2013 GCP (Class A1)
	10,000,000	g	Liberty Street Trust			3.597		02/10/36		9,928,457
			Series - 2016 225L (Class A)
	4,000,000	g,i	MAD Mortgage Trust			2.976		08/15/34		3,914,172
			Series - 2017 330M (Class A)
	2,350,000	g,i	Manhattan West			2.335		09/10/39		2,086,326
			Series - 2020 1MW (Class D)
	2,250,000	g,i	MFT Trust			3.283		08/10/40		1,894,881
			Series - 2020 B6 (Class B)
	359,127		Morgan Stanley Bank of America Merrill Lynch Trust			3.069		02/15/48		360,352
			Series - 2015 C20 (Class ASB)
	425,000	g,i	Morgan Stanley Capital I Trust	LIBOR 1 M + 0.700%		1.097		11/15/34		422,985
			Series - 2017 CLS (Class A)
	3,300,000	g,i	Morgan Stanley Capital I Trust			2.428		04/05/42		3,052,089
			Series - 2020 CNP (Class A)
	106,067	†,i	Morgan Stanley Capital I Trust			5.674		12/12/49		56,532
			Series - 2007 IQ16 (Class AJFX)
	1,250,092	g,i	Morgan Stanley Residential Mortgage Loan Trust			2.500		07/25/51		1,192,741
			Series - 2021 4 (Class A4)
	3,764,350	g,i	Morgan Stanley Residential Mortgage Loan Trust			2.500		08/25/51		3,438,790
			Series - 2021 5 (Class A9)
	3,859,181	g,i	Morgan Stanley Residential Mortgage Loan Trust			2.500		09/25/51		3,684,447
			Series - 2021 6 (Class A4)
	2,418,556	g,i	Morgan Stanley Residential Mortgage Loan Trust			2.500		09/25/51		2,209,581
			Series - 2021 6 (Class A9)
	1,500,000	g,i	MSDB Trust			3.316		07/11/39		1,468,027
			Series - 2017 712F (Class A)
	3,450,000	g,i	Natixis Commercial Mortgage Securities Trust			3.790		11/15/32		3,448,419
			Series - 2018 285M (Class A)
	4,250,000	g,i	Natixis Commercial Mortgage Securities Trust	LIBOR 1 M + 2.200%		2.597		07/15/36		4,217,213
			Series - 2019 MILE (Class C)
	4,000,000	g,i	Natixis Commercial Mortgage Securities Trust	LIBOR 1 M + 4.250%		4.647		07/15/36		3,860,467
			Series - 2019 MILE (Class F)
	546,759	g,i	New Residential Mortgage Loan Trust			2.797		09/25/59		542,906
			Series - 2019 NQM4 (Class A3)
	425,000	g,i	New Residential Mortgage Loan Trust			2.986		09/25/59		404,273
			Series - 2019 NQM4 (Class M1)
	74,075	i	New York Mortgage Trust	LIBOR 1 M + 0.480%		0.937		02/25/36		74,250
			Series - 2005 3 (Class A1)
	4,972,407	g,i	OBX Trust			2.500		07/25/51		4,535,059
			Series - 2021 J2 (Class A19)

241

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	333,333	g,i	OBX Trust	LIBOR 1 M + 0.650%		1.107	%	06/25/57	$	329,205
			Series - 2018 1 (Class A2)
	1,435,461	g,i	Oceanview Mortgage Trust			2.500		05/25/51		1,310,641
			Series - 2021 1 (Class A19)
	14,500,000	g	One Bryant Park Trust			2.516		09/15/54		13,410,761
			Series - 2019 OBP (Class A)
	2,750,000	g	One Market Plaza Trust			3.614		02/10/32		2,737,059
			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)
	218,592	g,i	Sequoia Mortgage Trust			3.500		05/25/45		213,591
			Series - 2015 2 (Class A1)
	59,521	g,i	Sequoia Mortgage Trust			3.500		06/25/46		58,551
			Series - 2016 1 (Class A19)
	168,192	g,i	Sequoia Mortgage Trust			3.500		04/25/47		163,822
			Series - 2017 3 (Class A19)
	21,884	g,i	Sequoia Mortgage Trust			3.500		09/25/47		21,541
			Series - 2017 6 (Class A19)
	221,296	g,i	Sequoia Mortgage Trust			3.740		09/25/47		213,937
			Series - 2017 6 (Class B1)
	105,330	g,i	Sequoia Mortgage Trust			3.500		02/25/48		103,747
			Series - 2018 2 (Class A1)
	34,877	g,i	Sequoia Mortgage Trust			3.500		02/25/48		34,339
			Series - 2018 2 (Class A19)
	16,212	g,i	Sequoia Mortgage Trust			3.500		03/25/48		16,034
			Series - 2018 3 (Class A1)
	29,604	g,i	Sequoia Mortgage Trust			4.000		09/25/48		29,646
			Series - 2018 7 (Class A19)
	345,811	g,i	Sequoia Mortgage Trust			4.000		06/25/49		346,143
			Series - 2019 2 (Class A1)
	43,404	g,i	Sequoia Mortgage Trust			4.000		06/25/49		43,446
			Series - 2019 2 (Class A19)
	330,869	g,i	Sequoia Mortgage Trust			3.500		11/25/49		318,000
			Series - 2019 4 (Class A1)
	369,397	g,i	Sequoia Mortgage Trust			3.500		12/25/49		364,850
			Series - 2019 5 (Class A1)
	207,422	g,i	Sequoia Mortgage Trust			3.500		12/25/49		204,808
			Series - 2019 5 (Class A19)
	995,387	g,i	Sequoia Mortgage Trust			3.500		03/25/50		977,350
			Series - 2020 2 (Class A1)
	1,159,107	g,i	Sequoia Mortgage Trust			3.000		04/25/50		1,117,280
			Series - 2020 3 (Class A19)
	2,374,919	g,i	Sequoia Mortgage Trust			2.500		06/25/51		2,162,105
			Series - 2021 4 (Class A19)
	517,507	g,i	Shellpoint Co-Originator Trust			3.500		10/25/47		507,753
			Series - 2017 2 (Class A1)
	14,150,000	g	SLG Office Trust			2.585		07/15/41		13,155,755
			Series - 2021 OVA (Class A)
	2,745,000	g,i	Structured Agency Credit Risk Debt Note (STACR)			2.199		10/25/33		2,681,976
			Series - 2021 DNA3 (Class M2)

242

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	66,739	g,i	STACR		3.724	%	02/25/48	$	66,521
			Series - 2018 SPI1 (Class M2)
	4,000,000	g	SUMIT Mortgage Trust		2.789		02/12/41		3,805,205
			Series - 2022 BVUE (Class A)
	1,700,000	g,i	Verus Securitization Trust		3.139		07/25/59		1,698,627
			Series - 2019 3 (Class M1)
	925,000	g,i	Verus Securitization Trust		3.207		11/25/59		920,315
			Series - 2019 4 (Class M1)
	638,244	g	Verus Securitization Trust		1.733		05/25/65		622,271
			Series - 2020 5 (Class A3)
	3,723,754	g,i	Verus Securitization Trust		2.240		10/25/66		3,511,957
			Series - 2021 7 (Class A3)
	2,711,000	g	VNDO Trust		3.805		01/10/35		2,713,969
			Series - 2016 350P (Class A)
	3,000,000	g,i	VNDO Trust		3.903		01/10/35		2,972,378
			Series - 2016 350P (Class B)
	652,616		Wells Fargo Commercial Mortgage Trust		2.514		08/15/49		644,655
			Series - 2016 BNK1 (Class ASB)
	591,034		Wells Fargo Commercial Mortgage Trust		3.185		03/15/59		590,302
			Series - 2016 C33 (Class ASB)
	38,735	g,i	Wells Fargo Mortgage Backed Securities Trust		4.000		04/25/49		38,717
			Series - 2019 2 (Class A17)
	338,589	g,i	Wells Fargo Mortgage Backed Securities Trust		3.000		07/25/50		325,342
			Series - 2020 4 (Class A17)
	5,193,188	g,i	Wells Fargo Mortgage Backed Securities Trust		2.500		06/25/51		4,739,018
			Series - 2021 2 (Class A17)
	943,000		WFRBS Commercial Mortgage Trust		3.311		03/15/45		945,954
			Series - 2013 C11 (Class AS)
	650,000	i	WFRBS Commercial Mortgage Trust		4.862		12/15/46		631,920
			Series - 2013 C18 (Class C)
	163,434	g,i	WinWater Mortgage Loan Trust		3.910		06/20/44		163,451
			Series - 2014 1 (Class B4)
			TOTAL OTHER MORTGAGE BACKED						505,409,010
			TOTAL STRUCTURED ASSETS						830,217,376
			(Cost $879,023,604)
			TOTAL BONDS						6,692,905,461
			(Cost $7,009,568,883)
SHARES			COMPANY
PREFERRED STOCKS - 0.7%
BANKS - 0.2%
	490,000		First Republic Bank						10,172,400
			TOTAL BANKS						10,172,400

243

TIAA-CREF FUNDS - Core Impact Bond Fund

SHARES		COMPANY	RATE			MATURITY DATE	VALUE
REAL ESTATE - 0.3%
	400,000	Brookfield Property Partners LP					$	8,224,000
	695,000	Brookfield Property Partners LP						14,650,600
		TOTAL REAL ESTATE						22,874,600
UTILITIES - 0.2%
	490,000	Brookfield Infrastructure Partners LP						10,079,300
	308,000	Brookfield Renewable Partners LP						6,979,280
		TOTAL UTILITIES						17,058,580
		TOTAL PREFERRED STOCKS						50,105,580
		(Cost $59,575,000)
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 14.2%
GOVERNMENT AGENCY DEBT - 10.1%
$	5,000,000	Federal Agricultural Mortgage Corp (FAMC)		0.000	%	05/03/22		4,999,111
	8,000,000	Federal Farm Credit Bank (FFCB)		0.000		04/11/22		7,999,622
	20,000,000	FFCB		0.000		04/26/22		19,997,641
	18,000,000	FFCB		0.000		05/02/22		17,993,505
	10,000,000	FFCB		0.000		05/04/22		9,996,159
	11,000,000	FFCB		0.000		05/17/22		10,994,111
	13,750,000	FFCB		0.000		05/27/22		13,741,038
	7,984,000	FFCB		0.000		06/16/22		7,973,589
	10,000,000	FFCB		0.000		07/19/22		9,977,042
	11,186,000	FFCB		0.000		07/22/22		11,159,682
	19,230,000	FFCB		0.000		09/01/22		19,144,823
	10,000,000	FFCB		0.000		09/13/22		9,952,240
	10,000,000	FFCB		0.000		09/23/22		9,949,353
	35,000,000	Federal Home Loan Bank (FHLB)		0.000		04/01/22		35,000,000
	29,110,000	FHLB		0.000		04/05/22		29,109,451
	18,000,000	FHLB		0.000		04/06/22		17,999,575
	10,000,000	FHLB		0.000		04/07/22		9,999,717
	32,500,000	FHLB		0.000		04/08/22		32,498,926
	49,000,000	FHLB		0.000		04/18/22		48,996,067
	25,610,000	FHLB		0.000		04/22/22		25,607,463
	13,500,000	FHLB		0.000		04/27/22		13,498,344
	10,000,000	FHLB		0.000		05/02/22		9,996,392
	10,280,000	FHLB		0.000		05/04/22		10,276,051
	20,283,000	FHLB		0.000		05/05/22		20,274,973
	10,000,000	FHLB		0.000		05/06/22		9,995,926
	25,000,000	FHLB		0.000		05/11/22		24,988,360
	14,600,000	FHLB		0.000		05/13/22		14,592,863
	20,000,000	FHLB		0.000		05/18/22		19,989,059
	25,000,000	FHLB		0.000		05/23/22		24,984,870
	25,000,000	FHLB		0.000		05/24/22		24,984,579
	12,780,000	FHLB		0.000		05/25/22		12,771,968
	25,000,000	FHLB		0.000		05/27/22		24,983,744
	10,000,000	FHLB		0.000		06/06/22		9,988,675
	10,000,000	FHLB		0.000		06/17/22		9,986,789
	20,000,000	FHLB		0.000		06/30/22		19,969,120
	30,000,000	FHLB		0.000		07/07/22		29,938,861
	15,000,000	FHLB		0.000		07/15/22		14,966,912

244

TIAA-CREF FUNDS - Core Impact Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	10,300,000		FHLB		0.000	%	07/19/22	$	10,276,415
	20,000,000		FHLB		0.000		08/03/22		19,937,692
	8,000,000		FHLB		0.000		08/05/22		7,974,675
	7,808,000		Tennessee Valley Authority (TVA)		0.000		04/06/22		7,807,816
			TOTAL GOVERNMENT AGENCY DEBT						695,273,199
REPURCHASE AGREEMENT - 1.9%
	132,990,000	r	Fixed Income Clearing Corp (FICC)		0.250		04/01/22		132,990,000
			TOTAL REPURCHASE AGREEMENT						132,990,000
TREASURY DEBT - 1.1%
	12,500,000		United States Cash Management Bill		0.000		04/12/22		12,499,466
	10,000,000		United States Cash Management Bill		0.000		04/19/22		9,999,306
	20,000,000		United States Treasury Bill		0.000		05/12/22		19,995,638
	10,000,000		United States Treasury Note		2.250		04/15/22		10,007,487
	25,000,000		United States Treasury Note		1.750		05/15/22		25,044,291
			TOTAL TREASURY DEBT						77,546,188
SHARES			COMPANY
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 1.1%
	78,113,139	c	State Street Navigator Securities Lending Government Money Market Portfolio		0.290				78,113,139
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES						78,113,139
			TOTAL SHORT-TERM INVESTMENTS						983,922,526
			(Cost $984,318,448)
			TOTAL INVESTMENTS - 112.1%						7,750,144,819
			(Cost $8,076,897,755)
			OTHER ASSETS & LIABILITIES, NET - (12.1)%						(835,371,002	)
			NET ASSETS - 100.0%					$	6,914,773,817

CLP	Chilean Peso
EUR	Euro
LIBOR	London Interbank Offered Rate
M	Month
SOFR	Secure Overnight Financing Rate

†	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 $76,462,696.
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 3/31/22, the aggregate value of these securities is $1,739,937,876 or 25.2% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.
i	Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.
k	Principal amount for interest accrual purposes is periodically adjusted based on changes in the Consumer Price Index.
q	In default
r	Agreement with Fixed Income Clearing Corp (FICC), 0.250% dated 3/31/22 to be repurchased at $132,990,000 on 4/1/22, collateralized by Government Agency Securities, with coupon rate 0.125% and maturity date 1/15/32, valued at $135,649,823.

245

TIAA-CREF FUNDS - Core Plus Bond Fund

TIAA-CREF FUNDS

CORE PLUS BOND FUND

SCHEDULE OF INVESTMENTS

March 31, 2022

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
BANK LOAN OBLIGATIONS - 2.9%
AUTOMOBILES & COMPONENTS - 0.1%
$	1,484,418	i	Clarios Global LP	LIBOR 1M + 3.250%		3.707	%	04/30/26	$	1,464,007
	974,923	i	Gates Global LLC	LIBOR 1M + 2.500%		3.250		03/31/27		959,812
			TOTAL AUTOMOBILES & COMPONENTS							2,423,819
BANKS - 0.0%
	550,000	i	Amentum Government Services Holdings LLC	SOFR 3M + 4.000%		4.500		02/15/29		543,813
			TOTAL BANKS							543,813
CAPITAL GOODS - 0.1%
	2,855,000	h,i	Clydesdale Acquisition Holdings, Inc	LIBOR 1 M + 4.250%		4.750		03/30/29		2,807,407
	265,328	i	Penn Engineering & Manufacturing Corp	LIBOR 3M + 2.500%		3.506		06/27/24		262,343
	610,696	i	Proampac PG Borrower LLC	LIBOR 3M + 3.750%		4.712		11/03/25		596,192
	886,364	i	SRAM LLC	LIBOR 3M + 2.750%		3.258		05/18/28		874,912
	1,450,905	i	TransDigm, Inc	LIBOR 1M + 2.250%		2.707		12/09/25		1,425,514
			TOTAL CAPITAL GOODS							5,966,368
COMMERCIAL & PROFESSIONAL SERVICES - 0.3%
	982,500	i	Amentum Government Services Holdings LLC	LIBOR 1M + 3.500%		3.957		01/29/27		968,578
	1,009,386	i	CHI Doors Holdings Corp	LIBOR 1M + 3.500%		4.500		07/31/25		996,264
	1,910,000	i	Clean Harbors, Inc	LIBOR 1M + 1.750%		2.207		06/28/24		1,897,107
	1,004,962	i	GFL Environmental, Inc			3.500		05/31/25		999,937
	2,053,126	i	Intrado Corp	LIBOR 3M + 4.000%		5.000		10/10/24		1,869,987
	2,500,000	i	Maxar Technologies Ltd	LIBOR 1M + 2.750%		2.870		10/04/24		2,458,025
	1,421,714	i	Peraton Corp	LIBOR 1M + 3.750%		4.500		02/01/28		1,409,715
	2,238,201	i	Prime Security Services Borrower LLC	LIBOR 3M + 2.750%		3.500		09/23/26		2,219,557
	1,910,563	i	Spin Holdco, Inc	LIBOR 3M + 4.000%		4.750		03/04/28		1,893,578
	2,310,087	i	Trans Union LLC	LIBOR 1M + 2.250%		2.750		12/01/28		2,289,873
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES							17,002,621
CONSUMER DURABLES & APPAREL - 0.1%
	997,500	i	Conair Holdings LLC	LIBOR 3M + 3.750%		4.756		05/17/28		980,044
	1,700,000	i	Crocs, Inc	SOFR 3M + 3.500%		4.030		02/20/29		1,655,681
	1,481,306	i	Great Outdoors Group LLC	LIBOR 1M + 3.750%		4.500		03/06/28		1,473,899
			TOTAL CONSUMER DURABLES & APPAREL							4,109,624
CONSUMER SERVICES - 0.3%
	594,000	i	AlixPartners LLP	LIBOR 1M + 2.750%		3.250		02/04/28		584,068
	354,600	i	Caesars Resort Collection LLC	LIBOR 1M + 3.500%		3.957		07/21/25		353,004
	1,785,525	i	Carnival Corp	LIBOR 3M + 3.250%		4.000		10/18/28		1,743,119
	1,977,429	i	Golden Nugget LLC	LIBOR 1 M + 4.000%		4.500		01/27/29		1,965,070
	2,772,000	i	IRB Holding Corp	SOFR 3M + 3.000%		3.750		12/15/27		2,753,511
	1,538,304	i	KFC Holding Co	LIBOR 1M + 1.750%		2.218		03/09/28		1,522,598
	1,702,294	i	KUEHG Corp	LIBOR 3M + 3.750%		4.756		02/21/25		1,674,104
	643,824	i	Life Time, Inc	LIBOR 3M + 4.750%		5.750		12/10/24		639,800
	1,913,983	i	Scientific Games International, Inc	LIBOR 1M + 2.750%		3.207		08/14/24		1,905,618
	1,201,370	i	Sterling Midco Holdings, Inc	LIBOR 3M + 3.500%		4.500		06/19/24		1,197,370
			TOTAL CONSUMER SERVICES							14,338,262

246

TIAA-CREF FUNDS - Core Plus Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
DIVERSIFIED FINANCIALS - 0.0%
$	368,456	i	Lions Gate Capital Holdings LLC	LIBOR 1M + 2.250%		2.707	%	03/24/25	$	362,701
	371,753	i	Reynolds Group Holdings, Inc	LIBOR 1M + 3.250%		3.707		02/05/26		361,608
			TOTAL DIVERSIFIED FINANCIALS							724,309
ENERGY - 0.0%
	775,625	i	ChampionX Holding, Inc	LIBOR 3M + 5.000%		6.000		06/03/27		776,920
	637,000	i	Delek US Holdings, Inc	LIBOR 1M + 5.500%		6.500		04/01/25		631,745
	482,575	i	DT Midstream, Inc	LIBOR 1M + 2.000%		2.500		06/26/28		481,301
			TOTAL ENERGY							1,889,966
FOOD, BEVERAGE & TOBACCO - 0.1%
	1,182,000	i	Chobani LLC	LIBOR 1M + 3.500%		4.500		10/20/27		1,159,838
	589,500	i	Froneri US, Inc	LIBOR 1M + 2.250%		2.707		01/29/27		578,028
	1,592,854	i	Hearthside Food Solutions LLC	LIBOR 1M + 3.688%		4.145		05/23/25		1,531,879
	662,147	i	Triton Water Holdings, Inc	LIBOR 3M + 3.500%		4.506		03/31/28		644,765
			TOTAL FOOD, BEVERAGE & TOBACCO							3,914,510
HEALTH CARE EQUIPMENT & SERVICES - 0.3%
	1,485,000	i	ADMI Corp	LIBOR 1M + 3.375%		3.875		12/23/27		1,457,394
	204,178	i	Change Healthcare Holdings LLC	LIBOR 1M + 2.500%		3.500		03/01/24		202,800
	443,250	i	Da Vinci Purchaser Corp	LIBOR 3M + 4.000%		5.006		01/08/27		440,848
	1,311,750	i	Global Medical Response, Inc	LIBOR 1 M + 4.250%		5.250		10/25/25		1,300,679
	1,910,563	i	Onex TSG Intermediate Corp	LIBOR 1M + 4.750%		5.500		02/28/28		1,891,457
	2,597,237	i	RegionalCare Hospital Partners Holdings, Inc	LIBOR 1M + 3.750%		4.197		11/16/25		2,579,108
	2,000,000	i	Select Medical Corp	LIBOR 1M + 2.250%		2.710		03/06/25		1,973,760
	3,173,120	i	Surgery Center Holdings, Inc	LIBOR 1M + 3.750%		4.500		09/03/26		3,144,975
			TOTAL HEALTH CARE EQUIPMENT & SERVICES							12,991,021
HOUSEHOLD & PERSONAL PRODUCTS - 0.0%
	717,750	i	Energizer Holdings, Inc	LIBOR 1M + 2.250%		2.750		12/16/27		705,189
	1,180,184	i	Weber-Stephen Products LLC	LIBOR 1M + 3.250%		4.000		10/29/27		1,141,238
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS							1,846,427
INSURANCE - 0.1%
	214,461	i	Acrisure LLC	LIBOR 1M + 3.500%		3.957		02/15/27		211,066
	641,775	i	Alliant Holdings Intermediate LLC	LIBOR 1M + 3.500%		4.000		11/05/27		636,872
	179,837	i	Asurion LLC	LIBOR 1M + 3.125%		3.582		11/03/23		178,578
	1,539,007	i	Asurion LLC	LIBOR 1M + 3.250%		3.707		12/23/26		1,503,733
	425,000	i	Asurion LLC	LIBOR 1 M + 5.250%		5.707		01/31/28		416,075
	980,080	i	HUB International Ltd	LIBOR 3M + 3.250%		4.000		04/25/25		972,955
	1,953,964	i	USI, Inc	LIBOR 3M + 3.000%		4.006		05/16/24		1,939,270
			TOTAL INSURANCE							5,858,549
MATERIALS - 0.1%
	1,280,500	i	Asplundh Tree Expert LLC	LIBOR 1M + 1.750%		2.207		09/07/27		1,264,673
	660,809	i	Berry Global, Inc	LIBOR 1M + 1.750%		2.071		07/01/26		650,586
	663,911	i	Flex Acquisition Co, Inc	LIBOR 3M + 3.500%		4.000		03/02/28		662,198
	128,673	i	H.B. Fuller Co	LIBOR 1M + 2.000%		2.449		10/21/24		128,050
	769,188	i	Kloeckner Pentaplast of America, Inc	LIBOR 3M + 4.750%		5.554		02/12/26		698,522

247

TIAA-CREF FUNDS - Core Plus Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	1,004,534	i	Messer Industries USA, Inc	LIBOR 3M + 2.500%		2.724	%	03/01/26	$	989,326
	344,424	i	Quikrete Holdings, Inc	LIBOR 1M + 2.625%		3.082		02/01/27		335,527
	537,309	i	Tamko Building Products, Inc	LIBOR 3M + 3.000%		3.299		05/29/26		525,220
	291,490	i	Tronox Finance LLC	LIBOR 3M + 2.250%		3.256		03/10/28		286,937
	1,453,371	i	Zekelman Industries, Inc	LIBOR 1M + 2.000%		2.457		01/25/27		1,423,693
			TOTAL MATERIALS							6,964,732
MEDIA & ENTERTAINMENT - 0.5%
	1,979,328	i	Altice Financing S.A.	LIBOR 3M + 2.750%		2.989		02/02/26		1,903,995
	610,364	i	Arches Buyer, Inc	LIBOR 1M + 3.250%		3.750		12/06/27		599,353
	1,209,688	i	Arterra Wines Canada, Inc	LIBOR 3M + 3.500%		4.506		11/19/27		1,195,474
	296,250	i	Banijay Group US Holding, Inc	LIBOR 1M + 3.750%		3.991		03/03/25		293,287
	197,500	i	Cablevision Lightpath LLC	LIBOR 1M + 3.250%		3.750		11/30/27		194,735
	905,677	i	Cirque Du Soleil Holding USA Newco, Inc	LIBOR 3M + 6.000%		7.000		11/24/25		903,576
	862,898	i	Cirque Du Soleil Holding USA Newco, Inc	LIBOR 3 M + 1.000%		2.000		11/24/27		855,348
	265,665	i	City Brewing Co LLC	LIBOR 3M + 3.500%		4.250		03/31/28		241,755
	719,563	i	CNT Holdings I Corp	LIBOR 3M + 3.500%		4.250		11/08/27		714,914
	1,840,000	i	Coral-US Co-Borrower LLC	LIBOR 1M + 3.000%		3.397		10/15/29		1,820,073
	1,484,561	i	CSC Holdings LLC	LIBOR 1M + 2.250%		2.647		07/17/25		1,457,660
	1,000,000	i	Delta 2 Lux Sarl	LIBOR 1M + 2.500%		3.500		02/01/24		994,380
	192,033	i	Diamond Sports Group LLC	SOFR 1M + 8.000%		9.000		05/25/26		194,460
	977,500	†,i	Diamond Sports Group LLC	LIBOR 1 M + 3.250%		3.545		08/24/26		335,204
	764,000	i	DIRECTV Financing LLC	LIBOR 1M + 5.000%		5.750		08/02/27		762,312
	1,970,617	i	INEOS US Petrochem LLC	LIBOR 1M + 2.750%		3.250		01/29/26		1,933,175
	1,600,000	i	Mozart Borrower LP	LIBOR 1M + 3.250%		3.750		10/23/28		1,583,200
	966,583	i	Organon & Co	LIBOR 3M + 3.000%		3.563		06/02/28		960,542
	421,811	i	Park River Holdings, Inc	LIBOR 3M + 3.250%		4.000		12/28/27		411,945
	1,000,000	i	Phoenix Newco, Inc	LIBOR 1M + 3.500%		4.000		11/15/28		991,790
	403,988	i	Radiate Holdco LLC	LIBOR 1 M + 3.250%		4.000		09/25/26		400,101
	2,436,085	i	Ryan Specialty Group LLC	LIBOR 1M + 3.000%		3.750		09/01/27		2,415,793
	275,000	i	SkyMiles IP Ltd	LIBOR 3M + 3.750%		4.750		10/20/27		283,550
	784,617	i	TricorBraun Holdings, Inc	LIBOR 1M + 3.250%		3.750		03/03/28		763,801
	1,822,221	i	Univision Communications, Inc	LIBOR 1M + 3.250%		4.000		03/15/26		1,809,320
	1,167,110	i	Woof Holdings, Inc	LIBOR 3M + 3.750%		4.678		12/21/27		1,156,898
			TOTAL MEDIA & ENTERTAINMENT							25,176,641
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.1%
	618,766	i	Avantor, Inc	LIBOR 1M + 2.250%		2.750		11/08/27		613,129
	2,265,209	i	Bausch Health Americas, Inc	LIBOR 1M + 3.000%		3.457		06/02/25		2,244,437
	2,287,761	i	Endo Luxembourg Finance Co I Sarl	LIBOR 1M + 5.000%		5.750		03/27/28		2,137,867
	1,985,000	i	Jazz Financing Lux Sarl	LIBOR 1M + 3.500%		4.000		05/05/28		1,975,829
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES							6,971,262
REAL ESTATE - 0.0%
	1,233,560	i	Cushman & Wakefield plc	LIBOR 1M + 2.750%		3.207		08/21/25		1,215,056
			TOTAL REAL ESTATE							1,215,056
RETAILING - 0.1%
	997,500	i	Chariot Buyer LLC	LIBOR 3M + 3.500%		4.506		11/03/28		984,204
	611,500	h,i	LS GROUP OPCO ACQUISITIO	LIBOR 3M + 3.250%		4.000		11/02/27		605,385
	379,251	i	Men’s Wearhouse LLC	LIBOR 3M + 8.000%		9.000		12/01/25		353,018
	497,486	i	PetSmart, Inc	LIBOR 3M + 3.750%		4.500		02/11/28		495,411
	1,588,000	i	Resideo Funding, Inc	LIBOR 3M + 2.250%		2.750		02/09/28		1,562,195
	1,920,688	i	Staples, Inc	LIBOR 3M + 5.000%		5.317		04/16/26		1,811,247
			TOTAL RETAILING							5,811,460

248

TIAA-CREF FUNDS - Core Plus Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.0%
$	666,343	i	MKS Instruments, Inc	LIBOR 1M + 1.750%		2.207	%	02/02/26	$	657,514
	1,000,000	h,i	MKS Instruments, Inc	LIBOR 1 M + 2.250%		2.750		10/20/28		990,310
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT							1,647,824
SOFTWARE & SERVICES - 0.3%
	500,000	i	Avaya Holdings Corp	LIBOR 1M + 4.250%		4.647		12/15/27		495,875
	1,787,631	i	Camelot Finance S.A.	LIBOR 1M + 3.000%		3.457		10/30/26		1,766,036
	1,477,041	i	Hyland Software, Inc	LIBOR 1M + 3.500%		4.250		07/01/24		1,467,573
	1,750,000	i	Informatica LLC	LIBOR 1M + 2.750%		3.250		10/27/28		1,729,875
	1,496,250	i	Magenta Buyer LLC	LIBOR 3M + 5.000%		5.750		07/27/28		1,482,410
	2,640,000	h,i	NortonLifeLock, Inc	SOFR + 2.000%		2.500		01/28/29		2,604,809
	118,200	i	Presidio Holdings, Inc	LIBOR 3M + 3.500%		3.800		01/22/27		117,314
	1,806,727	i	Rackspace Technology Global, Inc	LIBOR 3M + 2.750%		3.500		02/03/28		1,769,943
	472,625	i	RealPage, Inc	LIBOR 1M + 3.250%		3.750		04/24/28		466,670
	1,006,536	h,i	SS&C Technologies, Inc			2.250		03/22/29		996,259
	743,464	h,i	SS&C Technologies, Inc	LIBOR 1 M + 2.250%		2.750		03/22/29		735,873
	123,752	i	UKG, Inc	LIBOR 3M + 3.250%		3.750		05/04/26		122,627
			TOTAL SOFTWARE & SERVICES							13,755,264
TECHNOLOGY HARDWARE & EQUIPMENT - 0.1%
	1,144,250	i	Ahead DB Holdings LLC	LIBOR 3M + 3.750%		4.760		10/18/27		1,131,091
	496,250	i	Ingram Micro, Inc	LIBOR 3M + 3.500%		4.506		06/30/28		491,412
	450,000	i	Match Group Holdings II LLC	LIBOR 3M + 1.750%		2.219		02/07/27		440,158
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT							2,062,661
TELECOMMUNICATION SERVICES - 0.1%
	987,342	i	CommScope, Inc	LIBOR 1M + 3.250%		3.707		04/06/26		959,775
	542,287	i	MLN US Holdco LLC	LIBOR 1M + 4.500%		4.742		11/28/25		520,428
	2,968,992	i	SFR Group S.A.	LIBOR 3M + 3.688%		3.927		01/31/26		2,897,558
	623,553	i	Zayo Group Holdings, Inc	LIBOR 1M + 3.000%		3.457		03/09/27		606,249
			TOTAL TELECOMMUNICATION SERVICES							4,984,010
TRANSPORTATION - 0.1%
	555,000	i	Air Canada	LIBOR 3M + 3.500%		4.250		08/11/28		549,217
	750,000	i	American Airlines, Inc	LIBOR 3M + 4.750%		5.500		04/20/28		758,670
	378,100	i	CHG Healthcare Services, Inc	LIBOR 3M + 3.500%		5.000		09/29/28		374,202
	1,960,000	i	Genesee & Wyoming, Inc	LIBOR 3M + 2.000%		3.006		12/30/26		1,936,108
	997,500	i	Gulf Finance LLC	LIBOR 1M + 6.750%		7.750		08/25/26		909,151
	475,000	i	Mileage Plus Holdings LLC	LIBOR 3M + 5.250%		6.250		06/18/27		492,219
	992,500	i	United Airlines, Inc	LIBOR 3M + 3.750%		4.500		04/21/28		979,270
	1,196,736	i	XPO Logistics, Inc	LIBOR 1M + 1.750%		1.992		02/24/25		1,184,517
			TOTAL TRANSPORTATION							7,183,354
UTILITIES - 0.1%
	461,795	i	AssuredPartners, Inc	LIBOR 1M + 3.500%		3.957		02/12/27		455,561
	1,577,246	i	AssuredPartners, Inc	LIBOR 1M + 3.500%		4.000		02/12/27		1,556,553
	553,537	h,i	Covanta Holding Corp	LIBOR 1 M + 2.500%		3.000		11/30/28		550,193
	41,463	h,i	Covanta Holding Corp	LIBOR 1 M + 2.500%		3.000		11/30/28		41,213
	1,953,279	i	Gopher Resource LLC	LIBOR 1M + 3.250%		4.250		03/06/25		1,765,276

249

TIAA-CREF FUNDS - Core Plus Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	723,827	i	Seattle SpinCo, Inc	LIBOR 1M + 2.750%		3.207	%	06/21/24	$	712,969
	582,477	i	Seattle SpinCo, Inc	SOFR 1M + 4.000%		4.500		02/26/27		575,196
	427,420	i	Utz Quality Foods LLC	LIBOR 1M + 3.000%		3.457		01/20/28		420,744
			TOTAL UTILITIES							6,077,705
			TOTAL BANK LOAN OBLIGATIONS							153,459,258
			(Cost $155,618,209)
BONDS - 93.0%
CORPORATE BONDS - 39.8%
AUTOMOBILES & COMPONENTS - 0.6%
	4,500,000	g	Adient Global Holdings Ltd			4.875		08/15/26		4,282,695
	575,000		Dana, Inc			5.375		11/15/27		571,406
	350,000		Dana, Inc			5.625		06/15/28		353,675
	325,000		Dana, Inc			4.250		09/01/30		297,440
	1,000,000		Ford Motor Co			7.450		07/16/31		1,180,000
	1,755,000		Ford Motor Co			3.250		02/12/32		1,567,443
	4,900,000	g	Gates Global LLC			6.250		01/15/26		4,904,582
	3,300,000		General Motors Co			6.125		10/01/25		3,542,621
	2,300,000		General Motors Co			5.000		10/01/28		2,398,363
	1,350,000		General Motors Co			6.600		04/01/36		1,567,751
	3,325,000		General Motors Co			5.200		04/01/45		3,365,487
	750,000		General Motors Co			6.750		04/01/46		903,265
	1,350,000		Genuine Parts Co			2.750		02/01/32		1,238,850
	5,000,000	e	Goodyear Tire & Rubber Co			5.250		04/30/31		4,681,325
	250,000	g,o	IHO Verwaltungs GmbH			4.750		09/15/26		245,000
	1,450,000		Magna International, Inc			3.625		06/15/24		1,465,508
			TOTAL AUTOMOBILES & COMPONENTS							32,565,411
BANKS - 8.6%
	2,000,000	g	Akbank T.A.S.			6.800		02/06/26		1,941,757
	2,000,000	g	Akbank T.A.S.			6.797		04/27/28		1,946,860
	1,500,000	g	Akbank TAS			6.800		06/22/31		1,407,132
	4,000,000		Banco Bilbao Vizcaya Argentaria S.A.			6.500		N/A‡		4,015,000
	1,175,000	g	Banco de Credito del Peru			3.125		07/01/30		1,105,675
	2,500,000	g	Banco de Credito e Inversiones S.A.			2.875		10/14/31		2,307,650
	1,855,000	g	Banco do Brasil S.A.			3.250		09/30/26		1,785,456
	1,725,000	g	Banco Industrial S.A.			4.875		01/29/31		1,677,390
	3,000,000	g	Banco Internacional del Peru SAA Interbank			4.000		07/08/30		2,880,000
	2,400,000		Banco Santander S.A.			1.722		09/14/27		2,167,684
	1,905,000		Banco Santander S.A.			3.800		02/23/28		1,874,614
	2,200,000		Banco Santander S.A.			7.500		N/A‡		2,282,500
	8,800,000		Banco Santander S.A.			4.750		N/A‡		8,113,600
	2,000,000		Bancolombia S.A.			3.000		01/29/25		1,945,400
	2,000,000		Bancolombia S.A.			4.625		12/18/29		1,925,000
	2,600,000	g	Bangkok Bank PCL			3.466		09/23/36		2,343,178
	500,000	g	Bangkok Bank PCL			5.000		N/A‡		493,125
	2,000,000	g	Banistmo S.A.			4.250		07/31/27		1,945,020

250

TIAA-CREF FUNDS - Core Plus Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	4,000,000	g	Bank Hapoalim BM		3.255	%	01/21/32	$	3,680,000
	3,000,000	g	Bank Leumi Le-Israel BM		3.275		01/29/31		2,775,000
	19,525,000		Bank of America Corp		0.810		10/24/24		18,890,703
	22,795,000		Bank of America Corp		2.592		04/29/31		21,029,903
	9,225,000		Bank of America Corp		1.922		10/24/31		8,013,553
	3,925,000		Bank of America Corp		2.572		10/20/32		3,566,504
	4,750,000		Bank of America Corp		2.972		02/04/33		4,450,716
	4,400,000		Bank of America Corp		3.846		03/08/37		4,213,535
	5,700,000		Bank of America Corp		2.676		06/19/41		4,812,842
	5,000,000		Bank of America Corp		4.375		N/A‡		4,699,000
	630,000		Bank of America Corp		6.300		N/A‡		669,973
	7,000,000		Bank of America Corp		6.100		N/A‡		7,301,385
	3,000,000		Barclays plc		3.932		05/07/25		3,024,406
	450,000		Barclays plc		2.279		11/24/27		417,771
	2,225,000		Barclays plc		3.330		11/24/42		1,935,256
	1,500,000		Barclays plc		4.375		N/A‡		1,321,125
	6,855,000		Barclays plc		6.125		N/A‡		7,000,669
	1,700,000		Barclays plc		7.750		N/A‡		1,762,109
	3,300,000	g	BNP Paribas S.A.		2.819		11/19/25		3,221,986
	100,000	g	BNP Paribas S.A.		4.375		05/12/26		101,331
	2,150,000	g	BNP Paribas S.A.		1.904		09/30/28		1,924,446
	1,800,000	g	BNP Paribas S.A.		2.159		09/15/29		1,601,401
	6,600,000	g	BNP Paribas S.A.		2.588		08/12/35		5,729,584
	925,000	g	BNP Paribas S.A.		6.625		N/A‡		955,525
	1,625,000		Citigroup, Inc		3.875		03/26/25		1,646,345
	5,895,000		Citigroup, Inc		3.200		10/21/26		5,848,518
	2,805,000		Citigroup, Inc		4.300		11/20/26		2,884,603
	695,000		Citigroup, Inc		4.450		09/29/27		716,848
	5,325,000		Citigroup, Inc		4.125		07/25/28		5,405,586
	3,600,000		Citigroup, Inc		2.666		01/29/31		3,335,369
	2,135,000		Citigroup, Inc		2.572		06/03/31		1,955,889
	14,225,000		Citigroup, Inc		2.520		11/03/32		12,762,029
	7,500,000		Citigroup, Inc		6.300		N/A‡		7,530,000
	5,000,000		Citigroup, Inc		6.250		N/A‡		5,221,000
	10,000,000		Citigroup, Inc		5.000		N/A‡		9,900,000
	1,075,000	g	Cooperatieve Rabobank UA		1.339		06/24/26		1,003,332
	4,950,000		Cooperatieve Rabobank UA		3.750		07/21/26		4,920,008
	1,325,000	g	Credicorp Ltd		2.750		06/17/25		1,275,667
	1,525,000	g	DBS Group Holdings Ltd		4.520		12/11/28		1,555,805
	2,450,000		Discover Bank		2.450		09/12/24		2,406,916
	800,000		Discover Bank		4.250		03/13/26		822,157
	1,625,000		Discover Bank		3.450		07/27/26		1,615,564
	1,375,000		Discover Bank		2.700		02/06/30		1,258,532
	6,600,000		Fifth Third Bancorp		4.500		N/A‡		6,484,500
	2,500,000	g	Grupo Aval Ltd		4.375		02/04/30		2,164,950
	2,160,000	e,g	Hana Bank		3.500		N/A‡		2,056,652
	1,300,000		HSBC Holdings plc		3.900		05/25/26		1,312,438
	4,325,000		HSBC Holdings plc		4.292		09/12/26		4,380,733
	630,000		HSBC Holdings plc		4.375		11/23/26		641,465
	8,750,000		HSBC Holdings plc		2.251		11/22/27		8,152,696
	2,250,000		HSBC Holdings plc		2.013		09/22/28		2,040,166

251

TIAA-CREF FUNDS - Core Plus Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	2,950,000		HSBC Holdings plc			2.206	%	08/17/29	$	2,653,423
	2,200,000		HSBC Holdings plc			3.973		05/22/30		2,200,891
	8,500,000		HSBC Holdings plc			6.000		N/A‡		8,648,750
	990,000		Huntington Bancshares, Inc			4.000		05/15/25		1,008,454
	5,000,000		Huntington Bancshares, Inc			5.625		N/A‡		5,207,500
	3,000,000	g	ICICI Bank Ltd			4.000		03/18/26		3,018,570
	1,100,000		ING Groep NV			3.950		03/29/27		1,113,586
	5,000,000		ING Groep NV			3.875		N/A‡		4,350,000
	3,000,000	g	Intercorp Financial Services, Inc			4.125		10/19/27		2,820,000
	2,680,000	e,g	Intesa Sanpaolo SpA			7.700		N/A‡		2,800,600
	700,000		JPMorgan Chase & Co			2.700		05/18/23		702,721
	660,000		JPMorgan Chase & Co			3.900		07/15/25		677,429
	350,000		JPMorgan Chase & Co			3.200		06/15/26		351,882
	13,880,000		JPMorgan Chase & Co			3.702		05/06/30		13,953,514
	2,125,000		JPMorgan Chase & Co			2.956		05/13/31		1,988,355
	7,725,000		JPMorgan Chase & Co			1.953		02/04/32		6,767,120
	14,925,000		JPMorgan Chase & Co			3.157		04/22/42		13,530,530
	1,250,000		JPMorgan Chase & Co			4.260		02/22/48		1,335,854
	6,250,000		JPMorgan Chase & Co			3.650		N/A‡		5,843,750
	2,500,000	i	JPMorgan Chase & Co	LIBOR 3 M + 3.320%		4.287		N/A‡		2,490,625
	4,000,000		JPMorgan Chase & Co			5.000		N/A‡		3,986,700
	2,000,000		JPMorgan Chase & Co			6.100		N/A‡		2,050,000
	890,000		Keycorp			5.000		N/A‡		878,875
	2,900,000		Lloyds Banking Group plc			6.750		N/A‡		3,045,812
	4,000,000		Lloyds Banking Group plc			7.500		N/A‡		4,251,659
	4,175,000		M&T Bank Corp			3.500		N/A‡		3,752,198
	1,800,000		Mitsubishi UFJ Financial Group, Inc			2.193		02/25/25		1,740,230
	3,000,000	g	Mizrahi Tefahot Bank Ltd			3.077		04/07/31		2,782,500
	1,850,000		Natwest Group plc			3.032		11/28/35		1,641,289
	5,000,000		Natwest Group plc			8.000		N/A‡		5,431,500
	4,900,000	g	NBK SPC Ltd			1.625		09/15/27		4,495,765
	3,000,000	g	NBK Tier Financing Ltd			3.625		N/A‡		2,811,559
	1,665,000	g	Oversea-Chinese Banking Corp Ltd			1.832		09/10/30		1,567,131
	2,500,000		PNC Financial Services Group, Inc			3.900		04/29/24		2,557,507
	5,225,000		PNC Financial Services Group, Inc			3.400		N/A‡		4,705,112
	2,500,000	i	PNC Financial Services Group, Inc	LIBOR 3 M + 3.678%		3.804		N/A‡		2,487,454
	4,000,000		Regions Financial Corp			5.750		N/A‡		4,165,000
	1,925,000		Royal Bank of Scotland Group plc			3.073		05/22/28		1,847,773
	3,000,000		Royal Bank of Scotland Group plc			6.000		N/A‡		3,063,450
	1,830,000		Santander Holdings USA, Inc			3.400		01/18/23		1,841,021
	3,675,000		Sumitomo Mitsui Financial Group, Inc			2.778		10/18/22		3,696,636
	2,250,000		Sumitomo Mitsui Financial Group, Inc			2.696		07/16/24		2,228,206
	1,500,000		SVB Financial Group			4.100		N/A‡		1,275,000
	1,820,000		SVB Financial Group			4.000		N/A‡		1,683,500
	475,000		Toronto-Dominion Bank			3.625		09/15/31		476,780
	5,055,000		Truist Financial Corp			4.800		N/A‡		4,966,537
	3,000,000	g	Turkiye Garanti Bankasi AS.			6.125		05/24/27		2,962,818
	2,500,000	g	Turkiye Vakiflar Bankasi TAO			6.500		01/08/26		2,382,713
	1,550,000	g	Turkiye Vakiflar Bankasi TAO			5.500		10/01/26		1,406,676
	2,100,000	g	UBS Group AG.			3.179		02/11/43		1,865,949
	5,000,000	g	UBS Group AG.			3.875		N/A‡		4,604,750

252

TIAA-CREF FUNDS - Core Plus Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	1,700,000	g	United Overseas Bank Ltd		3.750	%	04/15/29	$	1,708,298
	3,000,000	g	United Overseas Bank Ltd		2.000		10/14/31		2,783,245
	2,075,000		Wells Fargo & Co		3.750		01/24/24		2,112,898
	1,050,000		Wells Fargo & Co		3.550		09/29/25		1,063,590
	3,800,000		Wells Fargo & Co		3.526		03/24/28		3,792,368
	5,825,000		Wells Fargo & Co		2.393		06/02/28		5,508,121
	1,500,000		Wells Fargo & Co		5.875		N/A‡		1,567,200
	11,350,000		Wells Fargo & Co		3.900		N/A‡		10,879,543
	635,000		Westpac Banking Corp		2.668		11/15/35		554,538
			TOTAL BANKS						452,638,987
CAPITAL GOODS - 1.2%
	1,000,000	e,g	Adaro Indonesia PT		4.250		10/31/24		985,500
	1,325,000		Air Lease Corp		3.000		02/01/30		1,220,394
	4,100,000		Air Lease Corp		3.125		12/01/30		3,790,532
	2,000,000		Air Lease Corp		4.650		N/A‡		1,795,000
	1,690,000	g	Airbus SE		3.150		04/10/27		1,677,921
	600,000	g	BAE Systems plc		1.900		02/15/31		520,948
	2,000,000	g	BOC Aviation Ltd		3.000		09/11/29		1,871,428
	10,500,000		Boeing Co		2.196		02/04/26		9,926,873
	1,050,000		Boeing Co		3.250		02/01/28		1,011,458
	2,350,000		Boeing Co		2.950		02/01/30		2,177,419
	2,300,000		Boeing Co		3.250		02/01/35		2,053,668
	7,000,000		Boeing Co		5.805		05/01/50		8,083,159
	3,075,000	g	H&E Equipment Services, Inc		3.875		12/15/28		2,882,813
	1,750,000		Ingersoll-Rand Luxembourg Finance S.A.		3.800		03/21/29		1,778,741
	800,000		L3Harris Technologies, Inc		3.850		06/15/23		811,206
	500,000	g	Land O’ Lakes, Inc		8.000		N/A‡		531,250
	75,000	e	Lockheed Martin Corp		1.850		06/15/30		68,023
	1,925,000		Northrop Grumman Corp		3.250		01/15/28		1,925,087
	2,625,000		Parker-Hannifin Corp		3.250		06/14/29		2,591,411
	199,000		Raytheon Technologies Corp		3.650		08/16/23		201,576
	4,450,000		Raytheon Technologies Corp		4.125		11/16/28		4,651,597
	1,080,000		Raytheon Technologies Corp		2.250		07/01/30		1,000,353
	1,725,000		Raytheon Technologies Corp		4.500		06/01/42		1,902,148
	325,000	g	Rolls-Royce plc		5.750		10/15/27		333,580
	1,300,000		Roper Technologies, Inc		1.400		09/15/27		1,178,080
	1,000,000		Roper Technologies, Inc		2.950		09/15/29		963,896
	4,100,000		Roper Technologies, Inc		2.000		06/30/30		3,639,801
	850,000	g	Tupy Overseas S.A.		4.500		02/16/31		748,009
	725,000	g	WESCO Distribution, Inc		7.250		06/15/28		770,048
			TOTAL CAPITAL GOODS						61,091,919
COMMERCIAL & PROFESSIONAL SERVICES - 0.4%
	2,125,000	g	ADT Corp		4.875		07/15/32		1,955,000
	1,395,000	g	Albion Financing SARL		6.125		10/15/26		1,346,175
	800,000	g	ASGN, Inc		4.625		05/15/28		779,640
	925,000	g	Booz Allen Hamilton, Inc		3.875		09/01/28		892,893
	370,000	g	Booz Allen Hamilton, Inc		4.000		07/01/29		361,283
	250,000	g	GFL Environmental, Inc		4.250		06/01/25		248,425
	1,000,000	g	GFL Environmental, Inc		3.750		08/01/25		981,700

253

TIAA-CREF FUNDS - Core Plus Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	250,000	g	GFL Environmental, Inc			5.125	%	12/15/26	$	252,125
	3,150,000	g	GFL Environmental, Inc			3.500		09/01/28		2,957,362
	775,000	g	Prime Security Services Borrower LLC			5.250		04/15/24		793,476
	2,750,000	g	Prime Security Services Borrower LLC			5.750		04/15/26		2,805,481
	1,200,000	g	Prime Security Services Borrower LLC			3.375		08/31/27		1,097,868
	2,725,000	g	Prime Security Services Borrower LLC			6.250		01/15/28		2,666,671
	1,550,000		Republic Services, Inc			2.900		07/01/26		1,538,260
	200,000	g	Ritchie Bros Auctioneers, Inc			5.375		01/15/25		202,000
	1,330,000		Verisk Analytics, Inc			4.125		03/15/29		1,371,390
	75,000		Verisk Analytics, Inc			3.625		05/15/50		70,580
	1,325,000	g	WASH Multifamily Acquisition, Inc			5.750		04/15/26		1,328,313
	850,000		Waste Management, Inc			2.500		11/15/50		684,965
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES							22,333,607
CONSUMER DURABLES & APPAREL - 0.2%
	400,000		Leggett & Platt, Inc			4.400		03/15/29		415,545
	5,000,000		Lennar Corp			4.750		11/29/27		5,208,647
	369,000		Newell Brands, Inc			4.875		06/01/25		380,895
	5,000,000	e	PulteGroup, Inc			5.000		01/15/27		5,267,961
			TOTAL CONSUMER DURABLES & APPAREL							11,273,048
CONSUMER SERVICES - 0.5%
	8,000,000		Anheuser-Busch Cos LLC			3.650		02/01/26		8,176,098
	2,830,000		Anheuser-Busch Cos LLC			4.900		02/01/46		3,147,370
	1,825,000	g	Cedar Fair LP			5.500		05/01/25		1,874,120
	2,300,000	g	ENA Master Trust			4.000		05/19/48		2,159,125
	150,000	g	Hilton Domestic Operating Co, Inc			5.750		05/01/28		155,190
	2,200,000	g	Hilton Domestic Operating Co, Inc			3.625		02/15/32		1,996,500
	2,070,000	g	International Game Technology plc			6.500		02/15/25		2,170,716
	400,000	g	International Game Technology plc			4.125		04/15/26		395,000
	2,550,000	g	Live Nation Entertainment, Inc			6.500		05/15/27		2,715,801
	425,000	g	Marriott Ownership Resorts, Inc			4.500		06/15/29		400,562
	2,355,000	i	Nature Conservancy	LIBOR 3 M + 1.080%		1.397		02/01/24		2,354,995
	1,665,000	g	Sands China Ltd			2.550		03/08/27		1,446,052
	450,000	g	Wynn Macau Ltd			5.625		08/26/28		390,942
			TOTAL CONSUMER SERVICES							27,382,471
DIVERSIFIED FINANCIALS - 4.8%
	2,000,000		AerCap Ireland Capital DAC			4.625		07/01/22		2,010,959
	2,150,000		AerCap Ireland Capital DAC			1.750		01/30/26		1,972,517
	4,425,000		AerCap Ireland Capital DAC			2.450		10/29/26		4,092,914
	900,000		AerCap Ireland Capital DAC			3.650		07/21/27		872,027
	2,650,000		AerCap Ireland Capital DAC			3.000		10/29/28		2,443,796
	1,250,000		AerCap Ireland Capital DAC			3.300		01/30/32		1,126,824
	750,000		AerCap Ireland Capital DAC			3.850		10/29/41		657,706
	6,000,000		Ally Financial, Inc			4.700		N/A‡		5,647,860
	2,312,000		American Express Co			3.700		08/03/23		2,354,527
	5,250,000		American Express Co			3.550		N/A‡		4,784,325
	3,000,000	g	B3 S.A.-Brasil Bolsa Balcao			4.125		09/20/31		2,702,550
	4,000,000	g	Banco BTG Pactual S.A.			2.750		01/11/26		3,690,040
	1,380,000	g	Banco Mercantil del Norte S.A.			6.750		N/A‡		1,355,850

254

TIAA-CREF FUNDS - Core Plus Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	8,086,000		Bank of New York Mellon Corp			4.700	%	N/A‡	$	8,280,064
	2,850,000	g	BBVA Bancomer S.A.			5.125		01/18/33		2,689,716
	2,825,000		Capital One Bank USA NA			3.375		02/15/23		2,846,258
	75,000		Capital One Financial Corp			3.750		03/09/27		75,591
	4,740,000	e	Capital One Financial Corp			3.950		N/A‡		4,408,674
	6,675,000		Charles Schwab Corp			5.375		N/A‡		6,875,250
	475,000	g	Credit Suisse Group AG.			2.193		06/05/26		446,064
	5,900,000	g	Credit Suisse Group AG.			1.305		02/02/27		5,295,421
	5,335,000	g	Credit Suisse Group AG.			5.250		N/A‡		4,934,875
	4,075,000		Credit Suisse Group Funding Guernsey Ltd			3.800		06/09/23		4,112,363
	2,325,000		Credit Suisse Group Funding Guernsey Ltd			3.750		03/26/25		2,316,398
	5,000,000		Danske Bank A.S.			4.375		N/A‡		4,684,480
	2,275,000		Deutsche Bank AG.			2.311		11/16/27		2,084,847
	4,000,000		Deutsche Bank AG.			3.035		05/28/32		3,594,580
	5,800,000		Deutsche Bank AG.			4.789		N/A‡		5,395,810
	12,150,000	e	Deutsche Bank AG.			6.000		N/A‡		11,846,250
	8,400,000		Discover Financial Services			6.125		N/A‡		8,741,712
	4,550,000		Equitable Holdings, Inc			4.950		N/A‡		4,470,375
	1,775,000		Ford Motor Credit Co LLC			3.096		05/04/23		1,772,905
	1,140,000		Ford Motor Credit Co LLC			5.584		03/18/24		1,172,524
	1,400,000		Ford Motor Credit Co LLC			4.000		11/13/30		1,318,380
	9,843,000		GE Capital International Funding Co			4.418		11/15/35		10,569,300
	2,000,000		General Motors Financial Co, Inc			2.750		06/20/25		1,942,518
	1,800,000		General Motors Financial Co, Inc			5.650		01/17/29		1,946,372
	8,225,000		General Motors Financial Co, Inc			2.700		06/10/31		7,242,282
	4,550,000		General Motors Financial Co, Inc			5.700		N/A‡		4,767,035
	2,000,000	e	General Motors Financial Co, Inc			5.750		N/A‡		1,995,000
	1,250,000		Goldman Sachs Group, Inc			4.000		03/03/24		1,275,537
	1,000,000		Goldman Sachs Group, Inc			3.500		04/01/25		1,007,458
	11,350,000		Goldman Sachs Group, Inc			2.640		02/24/28		10,852,039
	2,500,000		Goldman Sachs Group, Inc			2.615		04/22/32		2,272,152
	710,000		Goldman Sachs Group, Inc			2.650		10/21/32		641,885
	1,065,000		Goldman Sachs Group, Inc			4.017		10/31/38		1,076,202
	1,625,000		Goldman Sachs Group, Inc			3.210		04/22/42		1,470,697
	1,195,000		Goldman Sachs Group, Inc			4.800		07/08/44		1,324,919
	2,500,000		Goldman Sachs Group, Inc			4.125		N/A‡		2,344,375
	2,500,000		Goldman Sachs Group, Inc			3.800		N/A‡		2,317,187
	8,050,000		Goldman Sachs Group, Inc			5.500		N/A‡		8,213,415
	2,000,000	g	High Street Funding Trust I			4.111		02/15/28		2,052,514
	925,000		Icahn Enterprises LP			5.250		05/15/27		907,818
	3,850,000		Icahn Enterprises LP			4.375		02/01/29		3,532,375
	5,000,000	g	Indian Railway Finance Corp Ltd			2.800		02/10/31		4,435,609
	2,000,000		International Lease Finance Corp			5.875		08/15/22		2,024,418
	800,000	g	LCM Investments Holdings II LLC			4.875		05/01/29		755,584
	425,000		Legg Mason, Inc			3.950		07/15/24		433,782
	3,425,000	g	LPL Holdings, Inc			4.000		03/15/29		3,250,252
	4,000,000	g	Macquarie Bank, London			6.125		N/A‡		3,986,000
	500,000	g,i	Matterhorn Re Ltd	SOFR + 5.250%		5.520		03/24/25		499,750
	1,400,000	g	Minejesa Capital BV			4.625		08/10/30		1,326,500
	1,000,000	g	Minejesa Capital BV			5.625		08/10/37		910,630
	6,550,000		Morgan Stanley			3.125		01/23/23		6,613,462

255

TIAA-CREF FUNDS - Core Plus Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	3,445,000		Morgan Stanley		2.720	%	07/22/25	$	3,410,450
	2,650,000		Morgan Stanley		2.188		04/28/26		2,559,816
	6,625,000		Morgan Stanley		3.125		07/27/26		6,567,830
	1,480,000		Morgan Stanley		3.950		04/23/27		1,503,905
	1,300,000		Morgan Stanley		1.512		07/20/27		1,194,965
	1,425,000		Morgan Stanley		2.699		01/22/31		1,337,172
	425,000		Morgan Stanley		1.794		02/13/32		365,469
	1,325,000		Morgan Stanley		1.928		04/28/32		1,145,249
	535,000		Morgan Stanley		2.239		07/21/32		474,079
	1,140,000		Northern Trust Corp		3.950		10/30/25		1,168,460
	1,345,000		OneMain Finance Corp		3.500		01/15/27		1,244,125
	2,375,000	g	Power Finance Corp Ltd		3.950		04/23/30		2,269,335
	2,000,000	g	REC Ltd		4.750		05/19/23		2,023,138
	1,000,000		SLM Corp		5.500		01/25/23		1,012,500
	2,100,000	g	Societe Generale S.A.		4.027		01/21/43		1,825,688
	1,225,000	g	Societe Generale S.A.		4.750		N/A‡		1,140,781
	600,000		Springleaf Finance Corp		6.125		03/15/24		615,000
	1,350,000		Springleaf Finance Corp		5.375		11/15/29		1,311,620
	700,000	g	Swiss Re Finance Luxembourg SA		5.000		04/02/49		724,500
	55,000		Synchrony Financial		2.850		07/25/22		55,151
	1,775,000		Synchrony Financial		4.250		08/15/24		1,799,764
	1,250,000		Synchrony Financial		3.950		12/01/27		1,237,962
	2,500,000	g	UBS Group AG		7.000		N/A‡		2,608,275
	260,000		Voya Financial, Inc		5.700		07/15/43		307,041
	925,000		Voya Financial, Inc		6.125		N/A‡		918,063
			TOTAL DIVERSIFIED FINANCIALS						251,881,837
ENERGY - 3.9%
	1,450,000	g	Abu Dhabi Crude Oil Pipeline LLC		4.600		11/02/47		1,532,905
	400,000		AmeriGas Partners LP		5.875		08/20/26		398,776
	3,950,000	g	Archrock Partners LP		6.875		04/01/27		3,994,319
	375,000	g	Archrock Partners LP		6.250		04/01/28		369,596
	5,150,000		Cenovus Energy, Inc		4.250		04/15/27		5,314,122
	550,000	e	Cenovus Energy, Inc		2.650		01/15/32		498,123
	2,000,000		Cenovus Energy, Inc		5.400		06/15/47		2,251,891
	257,900	†,o	Cloud Peak Energy, Inc		12.000		05/01/25		225,397
	2,125,000	g	Cosan Ltd		5.500		09/20/29		2,088,875
	2,125,000		Diamondback Energy, Inc		3.250		12/01/26		2,121,843
	3,000,000		Diamondback Energy, Inc		3.500		12/01/29		2,971,699
	2,200,000		Diamondback Energy, Inc		3.125		03/24/31		2,101,113
	1,600,000		Diamondback Energy, Inc		4.250		03/15/52		1,581,348
	1,790,000	g	DT Midstream, Inc		4.125		06/15/29		1,716,261
	1,490,000	g	DT Midstream, Inc		4.375		06/15/31		1,426,675
	2,300,000		Ecopetrol S.A.		6.875		04/29/30		2,413,436
	2,275,000		Ecopetrol S.A.		4.625		11/02/31		2,058,875
	2,000,000	g	Empresa Nacional del Petroleo		3.450		09/16/31		1,834,000
	2,340,000		Enbridge, Inc		5.750		07/15/80		2,421,900
	1,141,000	g	Energean Israel Finance Ltd		4.875		03/30/26		1,100,996
	897,000	g	Energean Israel Finance Ltd		5.375		03/30/28		863,951
	4,200,000		Energy Transfer LP		6.500		N/A‡		4,127,761
	1,375,000		Energy Transfer Operating LP		2.900		05/15/25		1,344,958
	950,000		Energy Transfer Operating LP		4.750		01/15/26		987,240

256

TIAA-CREF FUNDS - Core Plus Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	575,000		Energy Transfer Operating LP		5.500	%	06/01/27	$	617,918
	2,000,000		Energy Transfer Operating LP		4.950		06/15/28		2,100,477
	575,000		Energy Transfer Operating LP		5.250		04/15/29		613,586
	2,100,000		Energy Transfer Operating LP		6.250		04/15/49		2,409,700
	2,700,000		Energy Transfer Operating LP		5.000		05/15/50		2,731,965
	525,000	g	EnLink Midstream LLC		5.625		01/15/28		535,500
	1,025,000		Enterprise Products Operating LLC		3.700		02/15/26		1,038,124
	1,550,000		Enterprise Products Operating LLC		3.125		07/31/29		1,522,044
	200,000		Enterprise Products Operating LLC		2.800		01/31/30		192,243
	1,025,000		Enterprise Products Operating LLC		4.250		02/15/48		1,029,097
	2,105,000		Enterprise Products Operating LLC		4.200		01/31/50		2,088,735
	3,125,000		Enterprise Products Operating LLC		3.700		01/31/51		2,859,359
	2,050,000		Enterprise Products Operating LLC		3.300		02/15/53		1,748,983
	1,225,000	g	EQM Midstream Partners LP		6.000		07/01/25		1,249,555
	2,000,000	g	EQM Midstream Partners LP		4.500		01/15/29		1,870,000
	850,000	g	EQT Corp		3.125		05/15/26		825,579
	2,025,000	g	Ferrellgas Escrow LLC		5.375		04/01/26		1,912,126
	2,225,000	g	Ferrellgas Escrow LLC		5.875		04/01/29		2,053,608
	3,202,680	g	Galaxy Pipeline Assets Bidco Ltd		2.160		03/31/34		2,943,588
	2,750,000	g	Galaxy Pipeline Assets Bidco Ltd		2.625		03/31/36		2,468,008
	675,000		Genesis Energy LP		6.500		10/01/25		665,753
	3,750,000		Genesis Energy LP		6.250		05/15/26		3,631,125
	450,000	g	Hilcorp Energy I LP		5.750		02/01/29		450,270
	450,000	g	Hilcorp Energy I LP		6.000		02/01/31		451,125
	1,700,000	g	KazMunayGas National Co JSC		5.375		04/24/30		1,629,666
	2,000,000	g	KazMunayGas National Co JSC		3.500		04/14/33		1,660,000
	715,000		Kinder Morgan Energy Partners LP		5.400		09/01/44		769,675
	1,325,000	g	Kosmos Energy Ltd		7.750		05/01/27		1,301,813
	2,025,000	g	Leviathan Bond Ltd		6.125		06/30/25		2,054,836
	2,200,000		Marathon Petroleum Corp		3.800		04/01/28		2,213,686
	4,150,000		Marathon Petroleum Corp		4.750		09/15/44		4,219,744
	1,650,000		Marathon Petroleum Corp		5.000		09/15/54		1,682,459
	2,500,000	g	MEG Energy Corp		7.125		02/01/27		2,617,500
	2,625,000		MPLX LP		1.750		03/01/26		2,459,702
	7,275,000		MPLX LP		2.650		08/15/30		6,666,233
	1,550,000		MPLX LP		4.700		04/15/48		1,561,464
	1,617,000		Murphy Oil Corp		5.875		12/01/27		1,645,298
	325,000		Occidental Petroleum Corp		5.500		12/01/25		341,998
	800,000		Occidental Petroleum Corp		5.550		03/15/26		848,000
	2,375,000		Occidental Petroleum Corp		3.500		08/15/29		2,339,375
	1,200,000		Occidental Petroleum Corp		4.300		08/15/39		1,134,000
	475,000		Occidental Petroleum Corp		4.100		02/15/47		439,375
	950,000	g	Oleoducto Central S.A.		4.000		07/14/27		895,337
	1,100,000		ONEOK, Inc		4.000		07/13/27		1,109,258
	4,150,000		ONEOK, Inc		4.550		07/15/28		4,264,156
	3,050,000		ONEOK, Inc		4.350		03/15/29		3,114,241
	1,650,000		ONEOK, Inc		4.500		03/15/50		1,578,276
	2,000,000	g	Parkland Corp		4.500		10/01/29		1,854,290
	1,260,000	g	Parkland Corp		4.625		05/01/30		1,171,800
	5,000,000	g	Pertamina Persero PT		1.400		02/09/26		4,606,569
	3,000,000	g	Pertamina Persero PT		2.300		02/09/31		2,645,132
	800,000		Petrobras Global Finance BV		5.093		01/15/30		799,008

257

TIAA-CREF FUNDS - Core Plus Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	1,500,000		Petrobras Global Finance BV		5.600	%	01/03/31	$	1,518,750
	2,000,000		Petrobras Global Finance BV		6.900		03/19/49		1,986,960
	1,992,000		Petroleos Mexicanos		6.840		01/23/30		1,982,219
	2,700,000		Petroleos Mexicanos		5.950		01/28/31		2,492,127
	4,509,000		Petroleos Mexicanos		6.700		02/16/32		4,283,550
	1,475,000	g	Petronas Energy Canada Ltd		2.112		03/23/28		1,379,579
	2,700,000		Phillips 66		2.150		12/15/30		2,398,194
	1,450,000		Phillips 66		3.300		03/15/52		1,276,360
	715,000		Phillips 66 Partners LP		4.680		02/15/45		761,270
	475,000		Regency Energy Partners LP		4.500		11/01/23		482,212
	705,000		Sabine Pass Liquefaction LLC		5.875		06/30/26		762,158
	3,950,000		Sabine Pass Liquefaction LLC		4.200		03/15/28		4,056,199
	5,800,000		Sabine Pass Liquefaction LLC		4.500		05/15/30		6,065,452
	640,000	g	Santos Finance Ltd		3.649		04/29/31		598,030
	2,675,000	g	Saudi Arabian Oil Co		2.250		11/24/30		2,449,392
	820,000		Shell International Finance BV		3.125		11/07/49		745,710
	2,000,000	g	SierraCol Energy Andina LLC		6.000		06/15/28		1,815,000
	455,000		Suncor Energy, Inc		6.800		05/15/38		586,081
	1,400,000		Sunoco Logistics Partners Operations LP		4.000		10/01/27		1,409,005
	600,000		Sunoco Logistics Partners Operations LP		5.400		10/01/47		628,159
	1,150,000		Sunoco LP		4.500		05/15/29		1,084,950
	1,525,000	h	Targa Resources Corp		4.200		02/01/33		1,538,914
	1,525,000	h	Targa Resources Corp		4.950		04/15/52		1,553,689
	525,000		Targa Resources Partners LP		6.500		07/15/27		552,368
	1,000,000		Targa Resources Partners LP		4.000		01/15/32		961,985
	2,000,000	g	Thaioil Treasury Center Co Ltd		2.500		06/18/30		1,714,840
	3,300,000		Total Capital International S.A.		3.127		05/29/50		3,010,688
	3,440,000		TransCanada PipeLines Ltd		4.250		05/15/28		3,574,089
	2,000,000		Transcanada Trust		5.500		09/15/79		1,996,000
	2,800,000	g	Tullow Oil plc		10.250		05/15/26		2,852,864
	1,600,000		USA Compression Partners LP		6.875		04/01/26		1,614,400
	1,075,000		USA Compression Partners LP		6.875		09/01/27		1,079,128
	3,560,000		Williams Cos, Inc		2.600		03/15/31		3,278,087
			TOTAL ENERGY						203,865,828
FOOD & STAPLES RETAILING - 0.3%
	2,350,000		Costco Wholesale Corp		1.600		04/20/30		2,105,653
	1,460,000		Kroger Co		3.875		10/15/46		1,435,125
	2,500,000	g	MARB BondCo plc		3.950		01/29/31		2,218,750
	675,000		SYSCO Corp		3.300		07/15/26		678,005
	2,250,000		SYSCO Corp		3.150		12/14/51		1,918,885
	2,200,000		Walmart, Inc		1.050		09/17/26		2,048,326
	280,000		Walmart, Inc		2.375		09/24/29		270,538
	5,125,000		Walmart, Inc		1.800		09/22/31		4,662,125
	2,375,000		Walmart, Inc		2.500		09/22/41		2,109,514
			TOTAL FOOD & STAPLES RETAILING						17,446,921
FOOD, BEVERAGE & TOBACCO - 1.2%
	1,230,000		Altria Group, Inc		5.950		02/14/49		1,331,541
	5,580,000		Anheuser-Busch InBev Worldwide, Inc		4.750		01/23/29		6,049,698
	1,745,000		Anheuser-Busch InBev Worldwide, Inc		4.439		10/06/48		1,826,665
	1,850,000		BAT Capital Corp		2.259		03/25/28		1,659,953
	4,900,000		BAT Capital Corp		4.906		04/02/30		5,047,236
	3,735,000		BAT Capital Corp		2.726		03/25/31		3,291,651
	4,400,000		BAT International Finance plc		4.448		03/16/28		4,409,358

258

TIAA-CREF FUNDS - Core Plus Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	1,725,000	g	Bidvest Group Ltd		3.625	%	09/23/26	$	1,610,342
	400,000	g	BRF S.A.		4.875		01/24/30		381,400
	3,000,000	e,g	BRF S.A.		5.750		09/21/50		2,640,000
	2,700,000	g	Cia Cervecerias Unidas S.A.		3.350		01/19/32		2,566,053
	1,830,000	g	CNTL AMR BOTTLING CORP		5.250		04/27/29		1,820,850
	3,000,000	g	Coca-Cola Icecek AS.		4.500		01/20/29		2,814,307
	450,000		Constellation Brands, Inc		4.400		11/15/25		464,339
	450,000		Constellation Brands, Inc		3.700		12/06/26		453,915
	1,625,000		Constellation Brands, Inc		3.150		08/01/29		1,569,131
	2,350,000		Constellation Brands, Inc		2.875		05/01/30		2,204,278
	1,700,000		Constellation Brands, Inc		2.250		08/01/31		1,496,928
	1,350,000	g	Corp Lindley S.A.		4.625		04/12/23		1,363,500
	1,650,000		Diageo Capital plc		2.125		10/24/24		1,622,000
	2,425,000		Diageo Capital plc		2.375		10/24/29		2,295,753
	1,150,000		Diageo Capital plc		2.000		04/29/30		1,048,628
	1,700,000	g	Grupo Bimbo SAB de C.V.		4.700		11/10/47		1,738,936
	1,450,000	g	Kernel Holding S.A.		6.500		10/17/24		725,000
	2,500,000	g	Kernel Holding S.A.		6.750		10/27/27		1,250,000
	2,000,000	g	NBM US Holdings, Inc		6.625		08/06/29		2,104,400
	3,100,000	g	Post Holdings, Inc		4.625		04/15/30		2,791,395
	1,500,000	g	Primo Water Holdings, Inc		4.375		04/30/29		1,357,650
	2,250,000	g	Sigma Alimentos S.A. de C.V.		4.125		05/02/26		2,266,875
	5,325,000	g	Ulker Biskuvi Sanayi AS.		6.950		10/30/25		4,655,328
			TOTAL FOOD, BEVERAGE & TOBACCO						64,857,110
HEALTH CARE EQUIPMENT & SERVICES - 1.7%
	450,000		Abbott Laboratories		5.300		05/27/40		548,129
	4,200,000		Anthem, Inc		2.250		05/15/30		3,853,735
	1,660,000		Becton Dickinson & Co		2.823		05/20/30		1,579,403
	1,200,000		Boston Scientific Corp		2.650		06/01/30		1,125,979
	1,640,000		Centene Corp		2.450		07/15/28		1,498,468
	6,410,000		Centene Corp		3.000		10/15/30		5,887,393
	2,750,000	g	CHS/Community Health Systems, Inc		8.000		03/15/26		2,863,905
	1,250,000	g	CHS/Community Health Systems, Inc		5.250		05/15/30		1,199,738
	1,525,000		Cigna Corp		3.200		03/15/40		1,386,181
	7,450,000		CVS Health Corp		1.750		08/21/30		6,529,152
	5,175,000		CVS Health Corp		4.780		03/25/38		5,655,437
	1,400,000		CVS Health Corp		2.700		08/21/40		1,193,640
	4,925,000		CVS Health Corp		5.050		03/25/48		5,577,518
	3,100,000	g	DaVita, Inc		4.625		06/01/30		2,894,780
	5,400,000		Encompass Health Corp		4.500		02/01/28		5,292,000
	9,000,000		HCA, Inc		3.500		09/01/30		8,694,574
	1,320,000		HCA, Inc		5.500		06/15/47		1,489,486
	1,900,000		HCA, Inc		3.500		07/15/51		1,647,457
	3,500,000	g	Hologic, Inc		3.250		02/15/29		3,268,195
	1,800,000		Humana, Inc		3.950		03/15/27		1,828,273
	2,000,000		Humana, Inc		2.150		02/03/32		1,752,342
	990,000	g	LifePoint Health, Inc		4.375		02/15/27		956,434
	3,700,000	g	MPH Acquisition Holdings LLC		5.500		09/01/28		3,546,876
	3,375,000		MPT Operating Partnership LP		3.500		03/15/31		3,134,404
	375,000	g	Tenet Healthcare Corp		4.625		06/15/28		367,969
	3,400,000	g	Tenet Healthcare Corp		6.125		10/01/28		3,455,250

259

TIAA-CREF FUNDS - Core Plus Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	5,600,000	g	Tenet Healthcare Corp		4.375	%	01/15/30	$	5,375,608
	2,650,000		UnitedHealth Group, Inc		2.950		10/15/27		2,649,138
	3,625,000		UnitedHealth Group, Inc		2.300		05/15/31		3,404,486
	1,085,000		UnitedHealth Group, Inc		3.750		10/15/47		1,099,533
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						89,755,483
HOUSEHOLD & PERSONAL PRODUCTS - 0.0%
	875,000		Church & Dwight Co, Inc		2.300		12/15/31		800,476
	600,000	g	Compass Group Diversified Holdings LLC		5.250		04/15/29		564,000
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS						1,364,476
INSURANCE - 0.8%
	1,550,000	g	Acrisure LLC		4.250		02/15/29		1,408,051
	150,000		Aetna, Inc		6.625		06/15/36		188,908
	53,000		Aflac, Inc		6.450		08/15/40		67,328
	825,000	g	Alliant Holdings Intermediate LLC		4.250		10/15/27		793,543
	550,000		American Financial Group, Inc		3.500		08/15/26		555,012
	325,000	g	AmWINS Group, Inc		4.875		06/30/29		312,006
	1,250,000		Aon Corp		2.800		05/15/30		1,190,695
	2,425,000		Aon plc		3.500		06/14/24		2,445,530
	500,000		Berkshire Hathaway Finance Corp		2.875		03/15/32		484,801
	400,000		Berkshire Hathaway Finance Corp		4.250		01/15/49		438,042
	3,895,000		Berkshire Hathaway Finance Corp		2.850		10/15/50		3,372,169
	700,000		CNA Financial Corp		3.950		05/15/24		710,873
	1,725,000		CNA Financial Corp		2.050		08/15/30		1,530,933
	550,000	g	Equitable Financial Life Global Funding		1.400		07/07/25		516,296
	1,690,000	g	Five Corners Funding Trust II		2.850		05/15/30		1,601,570
	7,425,000		Hartford Financial Services Group, Inc		2.800		08/19/29		7,062,386
	250,000		Hartford Financial Services Group, Inc		4.300		04/15/43		251,226
	850,000		Hartford Financial Services Group, Inc		2.900		09/15/51		698,939
	2,075,000	g	HCA, Inc		3.625		03/15/32		2,033,406
	1,521,000	g	Liberty Mutual Group, Inc		4.569		02/01/29		1,612,207
	1,750,000	g	Liberty Mutual Group, Inc		3.951		10/15/50		1,655,274
	375,000		Marsh & McLennan Cos, Inc		3.500		03/10/25		377,686
	875,000		MetLife, Inc		3.600		11/13/25		892,624
	5,920,000		MetLife, Inc		3.850		N/A‡		5,838,304
	500,000		Principal Financial Group, Inc		2.125		06/15/30		452,260
	500,000		Prudential Financial, Inc		3.905		12/07/47		498,331
	2,610,000		Prudential Financial, Inc		3.700		10/01/50		2,391,804
	1,050,000		Reinsurance Group of America, Inc		3.900		05/15/29		1,060,280
	850,000		Willis North America, Inc		3.600		05/15/24		854,895
			TOTAL INSURANCE						41,295,379
MATERIALS - 1.9%
	1,125,000	g	Alpek SAB de C.V.		4.250		09/18/29		1,111,500
	4,500,000		Amcor Flexibles North America, Inc		2.690		05/25/31		4,131,278
	875,000	g	Anglo American Capital plc		3.875		03/16/29		875,404
	1,350,000	g	Anglo American Capital plc		2.625		09/10/30		1,224,059
	4,300,000		AngloGold Ashanti Holdings plc		3.375		11/01/28		4,033,055
	3,050,000		AngloGold Ashanti Holdings plc		3.750		10/01/30		2,853,275
	1,225,000	g	Ardagh Metal Packaging Finance USA LLC		3.250		09/01/28		1,111,687
	900,000	g	Ardagh Metal Packaging Finance USA LLC		4.000		09/01/29		811,035
	2,425,000		Ball Corp		2.875		08/15/30		2,174,122

260

TIAA-CREF FUNDS - Core Plus Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	270,000		Bemis Co, Inc		3.100	%	09/15/26	$	265,943
	325,000		Bemis Co, Inc		2.630		06/19/30		299,505
	5,375,000		Berry Global, Inc		1.570		01/15/26		5,007,233
	3,125,000		Berry Global, Inc		1.650		01/15/27		2,846,520
	2,145,000	g	CANPACK S.A.		3.125		11/01/25		1,968,037
	2,500,000	g	Celulosa Arauco y Constitucion S.A.		4.250		04/30/29		2,487,925
	2,500,000	g	Cemex SAB de C.V.		5.450		11/19/29		2,528,150
	2,425,000	g	Cemex SAB de C.V.		3.875		07/11/31		2,212,837
	1,500,000		Commercial Metals Co		4.125		01/15/30		1,400,625
	725,000	e,g	Constellium SE		3.750		04/15/29		650,687
	2,300,000	g	Corp Nacional del Cobre de Chile		3.625		08/01/27		2,304,631
	2,000,000	g	Corp Nacional del Cobre de Chile		3.150		01/14/30		1,923,169
	5,805,000		DowDuPont, Inc		4.493		11/15/25		6,037,480
	1,605,000		DowDuPont, Inc		4.725		11/15/28		1,720,043
	2,500,000		Freeport-McMoRan, Inc		5.450		03/15/43		2,799,600
	700,000	g	Fresnillo plc		4.250		10/02/50		616,882
	1,850,000	g	GCC SAB de C.V.		3.614		04/20/32		1,715,875
	1,250,000	g	Gold Fields Orogen Holdings BVI Ltd		6.125		05/15/29		1,353,750
	1,700,000	g	Klabin Austria GmbH		5.750		04/03/29		1,789,913
	485,000	g	Midwest Connector Capital Co LLC		4.625		04/01/29		490,120
	377,000		Mosaic Co		4.875		11/15/41		397,823
	1,200,000		Newmont Corp		2.250		10/01/30		1,096,716
	1,665,000		Newmont Corp		2.600		07/15/32		1,531,681
	3,000,000	g	Nova Chemicals Corp		4.875		06/01/24		3,033,735
	2,500,000		Nutrien Ltd		2.950		05/13/30		2,411,367
	1,920,000	g	OCI NV		4.625		10/15/25		1,934,400
	1,100,000	g	OCP S.A.		3.750		06/23/31		997,226
	2,975,000	g	Orbia Advance Corp SAB de C.V.		1.875		05/11/26		2,786,980
	2,900,000	g	PolyOne Corp		5.750		05/15/25		2,977,140
	1,600,000	g	SABIC Capital II BV		4.500		10/10/28		1,702,817
	2,575,000		Sasol Financing USA LLC		4.375		09/18/26		2,459,125
	4,500,000	g	Sociedad Quimica y Minera de Chile S.A.		3.500		09/10/51		3,882,420
	2,200,000	g	Standard Industries, Inc		5.000		02/15/27		2,180,816
	2,100,000		Suzano Austria GmbH		2.500		09/15/28		1,894,935
	3,000,000		Suzano Austria GmbH		3.125		01/15/32		2,656,140
	911,000	g	Tronox, Inc		4.625		03/15/29		852,924
	2,675,000	g	UltraTech Cement Ltd		2.800		02/16/31		2,349,098
	815,000	g	Unifrax Escrow Issuer Corp		5.250		09/30/28		757,082
	1,125,000	g	Volcan Cia Minera SAA		4.375		02/11/26		1,077,188
	800,000	g	WR Grace Holdings LLC		5.625		08/15/29		748,080
	1,000,000		WRKCo, Inc		4.900		03/15/29		1,076,946
	1,500,000		WRKCo, Inc		3.000		06/15/33		1,400,920
			TOTAL MATERIALS						98,949,899
MEDIA & ENTERTAINMENT - 2.7%
	875,000		Activision Blizzard, Inc		3.400		09/15/26		890,587
	1,100,000		Activision Blizzard, Inc		1.350		09/15/30		953,477
	2,030,000	g	Adani Electricity Mumbai Ltd		3.867		07/22/31		1,780,936
	2,050,000		Agree LP		2.000		06/15/28		1,857,037
	4,787,059	g	Alfa Desarrollo S.p.A		4.550		09/27/51		4,152,774
	2,500,000	g	Arches Buyer, Inc		4.250		06/01/28		2,332,150
	625,000		AstraZeneca Finance LLC		2.250		05/28/31		581,963
	1,275,000		Baidu, Inc		4.375		05/14/24		1,297,223

261

TIAA-CREF FUNDS - Core Plus Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	1,550,000		Baidu, Inc			1.625	%	02/23/27	$	1,387,902
	2,500,000	g	BOC Aviation USA Corp			1.625		04/29/24		2,401,375
	500,000	g,i	Bonanza RE Ltd	SOFR + 5.750%		5.750		03/16/25		499,750
	1,175,000	g	Cable Onda S.A.			4.500		01/30/30		1,146,212
	6,000,000	g	CCO Holdings LLC			5.125		05/01/27		6,008,850
	1,800,000	g	CCO Holdings LLC			4.500		08/15/30		1,688,926
	3,227,000		Charter Communications Operating LLC			4.464		07/23/22		3,238,831
	2,875,000		Charter Communications Operating LLC			2.250		01/15/29		2,587,121
	475,000		Charter Communications Operating LLC			2.800		04/01/31		428,115
	5,000,000		Charter Communications Operating LLC			3.500		03/01/42		4,133,666
	1,465,000		Charter Communications Operating LLC			5.125		07/01/49		1,453,395
	8,150,000		Charter Communications Operating LLC			4.800		03/01/50		7,741,762
	5,000,000		Comcast Corp			4.150		10/15/28		5,254,095
	2,975,000		Comcast Corp			3.200		07/15/36		2,846,217
	1,000,000		Comcast Corp			3.900		03/01/38		1,029,974
	6,000,000		Comcast Corp			2.800		01/15/51		5,059,597
	9,185,000	g	Comcast Corp			2.887		11/01/51		7,743,279
	5,000,000	g	CSC Holdings LLC			5.500		04/15/27		4,956,250
	1,225,000	g	CT Trust			5.125		02/03/32		1,223,775
	985,000	g	DIRECTV Holdings LLC			5.875		08/15/27		968,994
	446,000		Discovery Communications LLC			2.950		03/20/23		446,995
	1,440,000		Discovery Communications LLC			3.625		05/15/30		1,398,670
	1,500,000		DISH DBS Corp			5.000		03/15/23		1,505,310
	1,780,000	g	DISH DBS Corp			5.250		12/01/26		1,695,450
	2,550,000		DISH DBS Corp			5.125		06/01/29		2,171,554
	1,300,000	g	Electricidad Firme de Mexico Holdings S.A. de C.V.			4.900		11/20/26		1,210,638
	2,075,000	g	ENN Clean Energy International Investment Ltd			3.375		05/12/26		1,939,968
	3,000,000	g	Genm Capital Labuan Ltd			3.882		04/19/31		2,615,333
	2,785,000		Grupo Televisa SAB			6.625		01/15/40		3,332,798
	2,000,000	g	GSK Consumer Healthcare Capital US LLC			3.375		03/24/27		1,999,974
	3,200,000	g	GSK Consumer Healthcare Capital US LLC			3.625		03/24/32		3,196,992
	1,275,000		Lamar Media Corp			3.750		02/15/28		1,210,670
	3,000,000		Lamar Media Corp			4.875		01/15/29		2,977,500
	1,000,000		Lamar Media Corp			4.000		02/15/30		951,250
	825,000		Lamar Media Corp			3.625		01/15/31		757,457
	1,275,000	g	LCPR Senior Secured Financing DAC			5.125		07/15/29		1,217,236
	1,800,000	†,g	LUKOIL Capital DAC			2.800		04/26/27		990,000
	4,100,000	†,g	LUKOIL Securities BV			3.875		05/06/30		2,193,500
	4,575,000	g	Magallanes, Inc			5.050		03/15/42		4,666,638
	1,650,000	g	Magallanes, Inc			5.141		03/15/52		1,688,106
	3,000,000	g	Medco Laurel Tree Pte Ltd			6.950		11/12/28		2,927,812
	2,445,000	g	Mexico Remittances Funding Fiduciary Estate Management Sarl			4.875		01/15/28		1,908,322
	3,260,000	g	Misc Capital Two Labuan Ltd			3.750		04/06/27		3,240,437
	825,000	g	News Corp			3.875		05/15/29		779,625
	3,500,000		Paramount Global			6.375		03/30/62		3,533,250
	1,830,000	g	S&P Global, Inc			4.250		05/01/29		1,927,112
	590,000	g	Sirius XM Radio, Inc			3.125		09/01/26		557,829
	2,725,000	g	Sirius XM Radio, Inc			4.000		07/15/28		2,588,750
	1,575,000	g	Sirius XM Radio, Inc			4.125		07/01/30		1,474,468
	825,000		Smithsonian Institution			0.895		09/01/22		822,315

262

TIAA-CREF FUNDS - Core Plus Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	800,000		Smithsonian Institution		0.974	%	09/01/23	$	779,073
	1,000,000		Smithsonian Institution		1.118		09/01/24		958,858
	1,600,000		Smithsonian Institution		1.514		09/01/26		1,506,522
	1,225,000	g	TEGNA, Inc		4.750		03/15/26		1,224,363
	850,000		TEGNA, Inc		4.625		03/15/28		845,512
	1,230,000		Time Warner Cable LLC		5.875		11/15/40		1,321,893
	475,000		Time Warner Cable LLC		4.500		09/15/42		439,337
	1,275,000	g	Univision Communications, Inc		4.500		05/01/29		1,213,653
	515,000		ViacomCBS, Inc		5.850		09/01/43		593,368
	125,000		Walt Disney Co		7.625		11/30/28		155,116
	1,825,000		Weibo Corp		3.375		07/08/30		1,557,242
			TOTAL MEDIA & ENTERTAINMENT						144,165,129
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 1.0%
	850,000		AbbVie, Inc		2.850		05/14/23		855,066
	2,625,000		AbbVie, Inc		3.800		03/15/25		2,673,779
	6,825,000		AbbVie, Inc		4.050		11/21/39		7,012,053
	1,450,000		AbbVie, Inc		4.400		11/06/42		1,529,783
	580,000		AbbVie, Inc		4.450		05/14/46		616,299
	4,850,000		AbbVie, Inc		4.250		11/21/49		5,032,927
	6,000,000		AstraZeneca plc		1.375		08/06/30		5,228,588
	1,500,000	g	Avantor Funding, Inc		4.625		07/15/28		1,483,500
	2,040,000	g	Avantor Funding, Inc		3.875		11/01/29		1,917,600
	750,000		Bristol-Myers Squibb Co		2.350		11/13/40		632,887
	1,700,000		Bristol-Myers Squibb Co		3.550		03/15/42		1,681,396
	1,090,000		Danaher Corp		2.800		12/10/51		926,212
	475,000	g	Endo Luxembourg Finance Co I Sarl		6.125		04/01/29		433,437
	450,000		Gilead Sciences, Inc		4.000		09/01/36		459,726
	3,900,000		Gilead Sciences, Inc		2.800		10/01/50		3,191,463
	900,000		Johnson & Johnson		3.400		01/15/38		917,596
	1,325,000		Merck & Co, Inc		2.750		12/10/51		1,154,128
	1,450,000		Mylan, Inc		4.550		04/15/28		1,465,998
	3,150,000	g	Organon Finance LLC		5.125		04/30/31		3,039,750
	6,950,000		Takeda Pharmaceutical Co Ltd		2.050		03/31/30		6,273,317
	600,000		Takeda Pharmaceutical Co Ltd		3.025		07/09/40		534,964
	3,000,000		Teva Pharmaceutical Finance Netherlands III BV		3.150		10/01/26		2,716,170
	1,045,000		Teva Pharmaceutical Finance Netherlands III BV		4.750		05/09/27		1,003,148
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						50,779,787
REAL ESTATE - 1.8%
	350,000		Alexandria Real Estate Equities, Inc		3.950		01/15/27		357,837
	450,000		Alexandria Real Estate Equities, Inc		3.950		01/15/28		459,482
	1,650,000		Alexandria Real Estate Equities, Inc		4.900		12/15/30		1,824,136
	1,125,000		Alexandria Real Estate Equities, Inc		1.875		02/01/33		951,517
	875,000		American Tower Corp		5.000		02/15/24		905,045
	1,425,000		American Tower Corp		2.950		01/15/25		1,408,840
	475,000		American Tower Corp		3.375		10/15/26		468,662
	1,200,000		American Tower Corp		3.600		01/15/28		1,188,501
	1,480,000		American Tower Corp		3.800		08/15/29		1,472,798
	4,100,000		American Tower Corp		2.900		01/15/30		3,804,498
	825,000		American Tower Corp		2.100		06/15/30		719,490
	1,390,000		American Tower Corp		1.875		10/15/30		1,182,984

263

TIAA-CREF FUNDS - Core Plus Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	950,000		Brandywine Operating Partnership LP		4.100	%	10/01/24	$	961,127
	1,750,000		Brixmor Operating Partnership LP		3.850		02/01/25		1,762,882
	350,000		Brixmor Operating Partnership LP		2.250		04/01/28		319,633
	400,000		Brixmor Operating Partnership LP		2.500		08/16/31		353,297
	775,000		Crown Castle International Corp		3.650		09/01/27		769,375
	2,025,000		Crown Castle International Corp		2.250		01/15/31		1,784,804
	3,525,000		Crown Castle International Corp		2.100		04/01/31		3,048,372
	1,775,000		CubeSmart LP		2.250		12/15/28		1,611,834
	1,850,000	g	Cushman & Wakefield US Borrower LLC		6.750		05/15/28		1,933,250
	625,000		Duke Realty LP		2.875		11/15/29		599,130
	590,000		Equinix, Inc		2.150		07/15/30		516,348
	2,375,000		Essential Properties LP		2.950		07/15/31		2,077,739
	1,890,000		Essex Portfolio LP		3.000		01/15/30		1,809,555
	600,000		Federal Realty Investment Trust		1.250		02/15/26		552,147
	4,980,000	g	HAT Holdings I LLC		3.375		06/15/26		4,731,000
	1,500,000		Healthcare Realty Trust, Inc		3.875		05/01/25		1,510,194
	1,500,000		Healthcare Realty Trust, Inc		3.625		01/15/28		1,485,639
	525,000		Healthcare Realty Trust, Inc		2.400		03/15/30		476,239
	550,000		Healthcare Realty Trust, Inc		2.050		03/15/31		478,445
	1,225,000		Healthcare Trust of America Holdings LP		3.500		08/01/26		1,221,302
	3,055,000		Healthcare Trust of America Holdings LP		3.100		02/15/30		2,904,048
	375,000		Highwoods Realty LP		3.875		03/01/27		377,674
	725,000		Highwoods Realty LP		4.125		03/15/28		734,867
	700,000		Highwoods Realty LP		4.200		04/15/29		713,805
	3,369,000		Highwoods Realty LP		2.600		02/01/31		3,056,904
	1,225,000	g	Howard Hughes Corp		4.125		02/01/29		1,149,369
	460,000		Hudson Pacific Properties LP		3.950		11/01/27		461,831
	1,075,000		Hudson Pacific Properties LP		4.650		04/01/29		1,127,177
	1,400,000		Kennedy-Wilson, Inc		4.750		03/01/29		1,349,782
	1,475,000		Kennedy-Wilson, Inc		5.000		03/01/31		1,416,000
	1,285,000		Life Storage LP		2.400		10/15/31		1,132,443
	1,500,000		Mid-America Apartments LP		4.300		10/15/23		1,525,141
	1,000,000		Mid-America Apartments LP		3.750		06/15/24		1,013,490
	850,000		Mid-America Apartments LP		4.000		11/15/25		867,504
	3,925,000		Mid-America Apartments LP		2.750		03/15/30		3,747,413
	1,625,000		Mid-America Apartments LP		1.700		02/15/31		1,408,927
	1,000,000		Mid-America Apartments LP		2.875		09/15/51		837,524
	550,000		National Retail Properties, Inc		4.000		11/15/25		563,238
	600,000		National Retail Properties, Inc		3.600		12/15/26		601,363
	875,000		Regency Centers LP		3.900		11/01/25		889,626
	425,000		Regency Centers LP		3.600		02/01/27		430,717
	1,650,000		Regency Centers LP		2.950		09/15/29		1,571,899
	1,700,000		Retail Properties of America, Inc		4.750		09/15/30		1,756,875
	5,800,000	g	SBA Tower Trust		2.836		01/15/25		5,705,529
	2,080,000	g	SBA Tower Trust		1.884		01/15/26		1,962,396
	3,500,000	g	SBA Tower Trust		1.631		11/15/26		3,289,106
	789,000	g	SBA Tower Trust		2.328		01/15/28		747,526
	603,000		SITE Centers Corp		3.625		02/01/25		603,392
	3,820,000	e	SITE Centers Corp		4.250		02/01/26		3,864,567
	650,000		SITE Centers Corp		4.700		06/01/27		672,777
	1,150,000		Weingarten Realty Investors		3.375		10/15/22		1,155,068
	80,000		Weingarten Realty Investors		3.500		04/15/23		80,652
	400,000		Weingarten Realty Investors		4.450		01/15/24		407,216

264

TIAA-CREF FUNDS - Core Plus Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	925,000		Weingarten Realty Investors		3.850	%	06/01/25	$	934,957
	300,000		Weingarten Realty Investors		3.250		08/15/26		298,427
	650,000		Weyerhaeuser Co		4.000		03/09/52		648,707
			TOTAL REAL ESTATE						92,754,039
RETAILING - 0.6%
	2,670,000	g	Asbury Automotive Group, Inc		4.625		11/15/29		2,486,437
	755,000	g	Asbury Automotive Group, Inc		5.000		02/15/32		701,803
	1,800,000		AutoNation, Inc		3.800		11/15/27		1,800,690
	250,000		AutoNation, Inc		2.400		08/01/31		217,657
	1,950,000		AutoZone, Inc		1.650		01/15/31		1,662,193
	300,000		Chevron USA, Inc		3.900		11/15/24		308,976
	3,900,000	g	JSM Global Sarl		4.750		10/20/30		3,417,414
	1,225,000	g	Kia Corp		2.750		02/14/27		1,184,030
	925,000	g	L Brands, Inc		6.625		10/01/30		971,250
	2,175,000	g	Lithia Motors, Inc		4.625		12/15/27		2,158,687
	1,900,000	g	Magic Mergeco, Inc		5.250		05/01/28		1,744,390
	790,000		O’Reilly Automotive, Inc		3.550		03/15/26		794,914
	1,400,000		O’Reilly Automotive, Inc		3.600		09/01/27		1,415,004
	1,225,000		O’Reilly Automotive, Inc		4.200		04/01/30		1,266,932
	2,200,000		O’Reilly Automotive, Inc		1.750		03/15/31		1,879,234
	2,000,000	g	Prosus NV		3.832		02/08/51		1,457,512
	5,000,000	g	Staples, Inc		7.500		04/15/26		4,855,525
	550,000	g	Superior Plus LP		4.500		03/15/29		516,797
	2,550,000		Target Corp		2.350		02/15/30		2,435,979
			TOTAL RETAILING						31,275,424
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.5%
	1,175,000	g	Broadcom, Inc		4.000		04/15/29		1,174,424
	4,364,000		Broadcom, Inc		4.150		11/15/30		4,422,865
	3,700,000	g	Broadcom, Inc		2.450		02/15/31		3,300,689
	2,003,000	g	Broadcom, Inc		3.469		04/15/34		1,855,041
	3,736,000	g	Broadcom, Inc		3.187		11/15/36		3,243,180
	1,035,000		Intel Corp		3.734		12/08/47		1,033,712
	700,000		Lam Research Corp		3.750		03/15/26		719,284
	775,000		Lam Research Corp		4.000		03/15/29		812,302
	3,595,000		NVIDIA Corp		2.000		06/15/31		3,279,564
	1,425,000	g	NXP BV		3.875		06/18/26		1,429,579
	725,000	g	NXP BV		3.400		05/01/30		702,711
	1,575,000	g	NXP BV		3.125		02/15/42		1,355,900
	700,000		Texas Instruments, Inc		2.625		05/15/24		702,413
	505,000		Texas Instruments, Inc		4.150		05/15/48		560,804
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT						24,592,468
SOFTWARE & SERVICES - 0.5%
	2,975,000		Adobe, Inc		2.300		02/01/30		2,814,730
	265,000	g	CA Magnum Holdings		5.375		10/31/26		261,025
	425,000	g	Camelot Finance S.A.		4.500		11/01/26		413,312
	690,000	g	Clarivate Science Holdings Corp		3.875		07/01/28		658,101
	2,135,000		Fiserv, Inc		3.500		07/01/29		2,101,464
	900,000	g	Gartner, Inc		3.750		10/01/30		844,875
	1,413,000	g	j2 Global, Inc		4.625		10/15/30		1,345,494

265

TIAA-CREF FUNDS - Core Plus Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	3,000,000		Microsoft Corp		2.400	%	08/08/26	$	2,974,888
	1,165,000		Microsoft Corp		3.300		02/06/27		1,195,016
	1,149,000		Microsoft Corp		2.525		06/01/50		992,156
	1,885,000	g	NCR Corp		5.000		10/01/28		1,804,887
	2,830,000	g	Open Text Corp		3.875		12/01/29		2,688,500
	550,000	g	Open Text Holdings, Inc		4.125		02/15/30		521,507
	1,525,000	g	Rackspace Technology Global, Inc		3.500		02/15/28		1,364,303
	650,000		salesforce.com, Inc		3.700		04/11/28		671,571
	2,175,000		salesforce.com, Inc		1.950		07/15/31		1,989,799
	1,900,000		salesforce.com, Inc		2.700		07/15/41		1,681,486
	550,000		Visa, Inc		2.700		04/15/40		500,043
			TOTAL SOFTWARE & SERVICES						24,823,157
TECHNOLOGY HARDWARE & EQUIPMENT - 0.6%
	1,470,000		Amphenol Corp		2.800		02/15/30		1,393,724
	5,575,000		Apple, Inc		2.450		08/04/26		5,506,721
	10,350,000		Apple, Inc		2.050		09/11/26		10,046,153
	1,000,000		Apple, Inc		3.850		05/04/43		1,051,838
	640,000		Apple, Inc		4.650		02/23/46		757,284
	290,000		Corning, Inc		4.375		11/15/57		293,078
	1,805,000		Dell International LLC		5.300		10/01/29		1,966,096
	875,000		Flex Ltd		4.875		06/15/29		910,323
	4,125,000	g	Imola Merger Corp		4.750		05/15/29		3,972,210
	1,500,000	g	Lenovo Group Ltd		3.421		11/02/30		1,388,533
	975,000	g	Sensata Technologies BV		4.000		04/15/29		928,424
	450,000		Tyco Electronics Group S.A.		3.700		02/15/26		459,181
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						28,673,565
TELECOMMUNICATION SERVICES - 2.4%
	3,825,000	g	Altice France S.A.		5.125		07/15/29		3,428,156
	3,075,000	g	America Movil SAB de C.V.		5.375		04/04/32		3,095,018
	5,500,000		AT&T, Inc		2.250		02/01/32		4,876,951
	6,563,000		AT&T, Inc		2.550		12/01/33		5,830,861
	2,085,000		AT&T, Inc		4.500		05/15/35		2,208,746
	2,050,000		AT&T, Inc		3.300		02/01/52		1,757,244
	13,725,000		AT&T, Inc		3.550		09/15/55		12,104,987
	4,917,000		AT&T, Inc		3.800		12/01/57		4,485,976
	7,083,000		AT&T, Inc		3.650		09/15/59		6,211,314
	3,875,000	g	Avaya, Inc		6.125		09/15/28		3,821,409
	3,000,000	g	Bharti Airtel Ltd		4.375		06/10/25		3,021,631
	5,000,000	g	Bharti Airtel Ltd		3.250		06/03/31		4,621,071
	3,200,000	g	C&W Senior Financing Designated Activity Co		6.875		09/15/27		3,176,000
	2,575,000	g	Empresa Nacional de Telecomunicaciones S.A.		3.050		09/14/32		2,336,812
	1,925,000	g	Iliad Holding SASU		6.500		10/15/26		1,930,197
	2,268,000	g	Millicom International Cellular S.A.		5.125		01/15/28		2,258,883
	1,175,000	g	Millicom International Cellular S.A.		4.500		04/27/31		1,094,272
	2,150,000	g	MTN Mauritius Investment Ltd		6.500		10/13/26		2,262,019
	370,000		Orange S.A.		5.375		01/13/42		425,198
	1,875,000		Telefonica Emisiones SAU		4.103		03/08/27		1,917,652
	1,150,000		Telefonica Emisiones SAU		4.895		03/06/48		1,189,107
	3,000,000	g	Telefonica Moviles Chile S.A.		3.537		11/18/31		2,790,000
	800,000		T-Mobile USA, Inc		2.250		02/15/26		753,840

266

TIAA-CREF FUNDS - Core Plus Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	3,000,000		T-Mobile USA, Inc		2.625	%	02/15/29	$	2,738,190
	8,650,000		T-Mobile USA, Inc		3.875		04/15/30		8,683,209
	6,350,000		T-Mobile USA, Inc		2.550		02/15/31		5,758,189
	750,000		T-Mobile USA, Inc		3.000		02/15/41		633,989
	725,000		T-Mobile USA, Inc		4.500		04/15/50		733,451
	3,000,000		T-Mobile USA, Inc		3.300		02/15/51		2,524,279
	950,000		Verizon Communications, Inc		1.680		10/30/30		828,332
	750,000		Verizon Communications, Inc		1.750		01/20/31		653,903
	1,158,000	g	Verizon Communications, Inc		2.355		03/15/32		1,045,923
	11,300,000		Verizon Communications, Inc		2.875		11/20/50		9,441,412
	5,335,000	g	Vmed O2 UK Financing I plc		4.750		07/15/31		5,028,238
	2,850,000		Vodafone Group plc		4.375		02/19/43		2,860,554
	2,620,000		Vodafone Group plc		4.250		09/17/50		2,609,906
	6,000,000		Vodafone Group plc		4.125		06/04/81		5,447,640
			TOTAL TELECOMMUNICATION SERVICES						124,584,559
TRANSPORTATION - 0.6%
	3,600,000	g	Adani Ports & Special Economic Zone Ltd		3.100		02/02/31		3,099,322
	3,000,000	g	AerCap Global Aviation		6.500		06/15/45		2,937,420
	1,800,000		Burlington Northern Santa Fe LLC		3.050		02/15/51		1,652,626
	5,500,000		Canadian Pacific Railway Co		2.050		03/05/30		5,038,234
	750,000		Canadian Pacific Railway Co		3.100		12/02/51		663,106
	2,750,000	g	Cargo Aircraft Management, Inc		4.750		02/01/28		2,684,220
	1,990,000		CSX Corp		3.250		06/01/27		2,003,111
	700,000		CSX Corp		3.800		03/01/28		723,228
	3,295,000		CSX Corp		4.250		03/15/29		3,494,241
	1,000,000	g	DP World Ltd		5.625		09/25/48		1,081,382
	2,235,000	g	First Student Bidco, Inc		4.000		07/31/29		2,084,182
	3,000,000	g	Grupo Aeromexico SAB de C.V.		8.500		03/17/27		3,013,950
	747,022	g	Lima Metro Line 2 Finance Ltd		4.350		04/05/36		738,625
	1,550,000		Union Pacific Corp		2.891		04/06/36		1,448,320
	1,880,000		Union Pacific Corp		3.839		03/20/60		1,886,537
			TOTAL TRANSPORTATION						32,548,504
UTILITIES - 3.0%
	1,775,000	g	Access Bank plc		6.125		09/21/26		1,671,982
	325,000		AEP Transmission Co LLC		3.100		12/01/26		324,192
	350,000		AEP Transmission Co LLC		4.000		12/01/46		356,344
	1,585,000		AEP Transmission Co LLC		2.750		08/15/51		1,298,397
	1,400,000	g	Aeropuerto Internacional de Tocumen S.A.		4.000		08/11/41		1,273,046
	700,000		Alabama Power Co		4.150		08/15/44		710,607
	1,850,000		Ameren Corp		3.650		02/15/26		1,872,373
	525,000		American Water Capital Corp		3.000		12/01/26		523,629
	1,927,000		American Water Capital Corp		2.800		05/01/30		1,846,058
	5,000,000		American Water Capital Corp		2.300		06/01/31		4,560,151
	500,000		American Water Capital Corp		4.000		12/01/46		505,168
	900,000		American Water Capital Corp		3.750		09/01/47		878,502
	3,100,000		Atmos Energy Corp		1.500		01/15/31		2,670,329
	250,000		Atmos Energy Corp		4.125		10/15/44		256,353
	800,000	g	Azure Power Solar Energy Pvt Ltd		5.650		12/24/24		817,880
	1,325,000		Baltimore Gas & Electric Co		3.750		08/15/47		1,304,877
	2,250,000	g	Becle SAB de C.V.		2.500		10/14/31		1,995,975

267

TIAA-CREF FUNDS - Core Plus Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	7,100,000		Berkshire Hathaway Energy Co		1.650	%	05/15/31	$	6,182,752
	925,000		Black Hills Corp		4.250		11/30/23		942,692
	725,000		CenterPoint Energy Houston Electric LLC		3.000		03/01/32		708,808
	300,000		CenterPoint Energy Resources Corp		6.250		02/01/37		366,439
	525,000	g	Clearway Energy Operating LLC		4.750		03/15/28		527,273
	1,000,000		CMS Energy Corp		3.600		11/15/25		1,006,382
	3,050,000		CMS Energy Corp		4.750		06/01/50		3,019,500
	1,900,000	g	Colbun S.A.		3.150		01/19/32		1,729,000
	200,000		Commonwealth Edison Co		5.900		03/15/36		245,487
	1,650,000		Commonwealth Edison Co		2.750		09/01/51		1,401,913
	1,290,000		Consumers Energy Co		2.650		08/15/52		1,070,762
	755,000		Dominion Energy, Inc		2.250		08/15/31		680,065
	3,375,000		Dominion Energy, Inc		3.300		04/15/41		3,061,965
	250,000		Duke Energy Corp		3.300		06/15/41		226,355
	875,000		Duke Energy Corp		3.750		09/01/46		825,917
	5,000,000		Duke Energy Florida LLC		3.400		10/01/46		4,709,610
	4,000,000		Edison International		5.375		N/A‡		3,859,000
	2,525,000	g	Empresas Publicas de Medellin ESP		4.250		07/18/29		2,247,755
	2,000,000		Enel Chile S.A.		4.875		06/12/28		2,071,820
	4,900,000	g	EnfraGen Energia Sur S.A.		5.375		12/30/30		3,403,932
	3,450,000	g	Eskom Holdings SOC Ltd		8.450		08/10/28		3,357,464
	6,775,000		Exelon Corp		4.050		04/15/30		6,993,392
	1,270,000		Florida Power & Light Co		3.990		03/01/49		1,357,660
UGX	6,000,000,000	†,g	ICBC Standard Bank plc		14.250		06/26/34		1,591,230
$	750,000		Indiana Michigan Power Co		3.750		07/01/47		715,267
	1,140,000		Indiana Michigan Power Co		3.250		05/01/51		1,016,945
	2,000,000	g	Israel Electric Corp Ltd		4.250		08/14/28		2,014,200
	1,250,000	g	Israel Electric Corp Ltd		3.750		02/22/32		1,199,680
	1,525,000	g	Kallpa Generacion SA		4.125		08/16/27		1,525,763
	2,400,000	g	Korea Southern Power Co Ltd		0.750		01/27/26		2,198,421
	775,000		MidAmerican Energy Co		3.650		04/15/29		796,585
	1,550,000		MidAmerican Energy Co		3.650		08/01/48		1,535,718
	1,000,000	g	Nemak SAB de C.V.		3.625		06/28/31		872,660
	1,000,000		Nevada Power Co		5.450		05/15/41		1,154,300
	5,440,000		NextEra Energy Capital Holdings, Inc		2.250		06/01/30		4,979,520
	50,000	g	NextEra Energy Operating Partners LP		4.250		09/15/24		50,375
	8,135,000		NiSource, Inc		1.700		02/15/31		6,900,408
	1,400,000		Northern States Power Co		3.600		09/15/47		1,384,897
	1,955,000	g	NRG Energy, Inc		2.450		12/02/27		1,803,104
	1,350,000		NRG Energy, Inc		5.750		01/15/28		1,372,147
	500,000		NSTAR Electric Co		3.950		04/01/30		518,994
	1,550,000		Ohio Power Co		4.150		04/01/48		1,566,349
	1,365,000		Ohio Power Co		4.000		06/01/49		1,359,941
	575,000		ONE Gas, Inc		3.610		02/01/24		577,079
	600,000	g	Pattern Energy Operations LP		4.500		08/15/28		590,286
	825,000		PECO Energy Co		3.000		09/15/49		741,752
	2,325,000		PECO Energy Co		2.800		06/15/50		2,004,783
	2,000,000	g	Pelabuhan Indonesia III PT		4.875		10/01/24		2,058,660
	2,000,000	g	Perusahaan Listrik Negara PT		4.125		05/15/27		2,021,260
	1,800,000	g	Perusahaan Listrik Negara PT		5.450		05/21/28		1,930,500
	1,131,891	g,o	Petra Diamonds US Treasury plc		10.500		03/08/26		1,188,486
	2,975,000	†,g	Phosagro OAO Via Phosagro Bond Funding DAC		2.600		09/16/28		821,844

268

TIAA-CREF FUNDS - Core Plus Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	50,000		Potomac Electric Power Co		7.900	%	12/15/38	$	71,642
	2,500,000	g	Promigas S.A. ESP		3.750		10/16/29		2,263,775
	4,000,000		Public Service Co of Colorado		1.875		06/15/31		3,554,803
	550,000		Public Service Co of Colorado		4.750		08/15/41		601,709
	1,410,000		Public Service Co of Colorado		4.050		09/15/49		1,483,233
	3,200,000	g	Rumo Luxembourg Sarl		4.200		01/18/32		2,771,200
	1,994,000	g	Saka Energi Indonesia PT		4.450		05/05/24		1,952,625
	8,400,000		Sempra Energy		4.875		N/A‡		8,442,000
	2,382,303	g	Solar Star Funding LLC		3.950		06/30/35		2,406,126
	1,325,000		Southern Co		4.400		07/01/46		1,353,831
	10,000,000		Southern Co		4.000		01/15/51		9,675,000
	75,000		Southern Co Gas Capital Corp		3.875		11/15/25		76,333
	625,000		Southern Co Gas Capital Corp		4.400		06/01/43		625,220
	425,000		Southern Co Gas Capital Corp		3.950		10/01/46		401,168
	1,635,259	g	UEP Penonome II S.A.		6.500		10/01/38		1,553,496
	650,000		Virginia Electric & Power Co		2.950		11/15/26		642,098
	650,000		Virginia Electric & Power Co		3.500		03/15/27		660,813
	775,000		Virginia Electric & Power Co		3.800		09/15/47		773,753
	850,000		Wisconsin Power & Light Co		4.100		10/15/44		824,433
	215,000		Xcel Energy, Inc		4.800		09/15/41		230,251
			TOTAL UTILITIES						159,716,469
			TOTAL CORPORATE BONDS						2,090,615,477
			(Cost $2,202,166,965)
GOVERNMENT BONDS - 35.1%
FOREIGN GOVERNMENT BONDS - 3.3%
	750,000	g	African Export-Import Bank		2.634		05/17/26		696,447
	3,325,000	g	Arab Petroleum Investments Corp		4.125		09/18/23		3,395,087
INR	70,000,000		Asian Development Bank		6.200		10/06/26		906,143
$	550,000	g	Banque Ouest Africaine de Developpement		5.000		07/27/27		552,962
	3,000,000	g	Banque Ouest Africaine de Developpement		4.700		10/22/31		2,957,443
EUR	1,575,000	g	Banque Ouest Africaine de Developpement		2.750		01/22/33		1,602,878
$	287,000	g	Barbados Government International Bond		6.500		10/01/29		275,021
	3,550,000	g	Bermuda Government International Bond		3.717		01/25/27		3,598,812
	3,660,000	g	Bermuda Government International Bond		4.750		02/15/29		3,927,546
	1,500,000	e,g	BNG Bank NV		1.500		10/16/24		1,461,029
	1,575,000		Brazilian Government International Bond		4.625		01/13/28		1,578,528
	1,450,000		Brazilian Government International Bond		3.875		06/12/30		1,336,755
	1,550,000		Brazilian Government International Bond		5.625		02/21/47		1,464,579
	1,500,000		Brazilian Government International Bond		4.750		01/14/50		1,255,860
	1,225,000		Chile Government International Bond		2.750		01/31/27		1,197,585
	3,575,000	e	Chile Government International Bond		2.550		01/27/32		3,359,141
CNY	8,950,000		China Government Bond		2.880		11/05/23		1,423,576
	3,250,000		China Government Bond		3.270		11/19/30		528,040
	3,300,000		China Government Bond		3.810		09/14/50		555,623
$	3,000,000		Colombia Government International Bond		3.250		04/22/32		2,504,610
	1,500,000	e	Colombia Government International Bond		5.000		06/15/45		1,262,415
	1,850,000	g	Costa Rica Government International Bond		5.625		04/30/43		1,618,769
	750,000	g	Development Bank of Japan, Inc		0.500		03/04/24		721,918
DOP	90,000,000	g	Dominican Republic Government International Bond		9.750		06/05/26		1,670,786

269

TIAA-CREF FUNDS - Core Plus Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
DOP	160,000,000	g	Dominican Republic Government International Bond		12.000	%	03/05/32	$	3,493,045
$	2,250,000	g	Dominican Republic Government International Bond		4.875		09/23/32		2,036,273
	3,725,000	g	Dominican Republic Government International Bond		6.500		02/15/48		3,538,787
	1,295,000	g	Dominican Republic International Bond		5.500		02/22/29		1,278,813
	170,283	g	Ecuador Government International Bond		0.000		07/31/30		94,509
	928,125	g	Ecuador Government International Bond (Step Bond)		5.000		07/31/30		774,994
	650,162	g	Ecuador Government International Bond (Step Bond)		1.000		07/31/35		425,212
EUR	1,400,000	g	Egypt Government International Bond		5.625		04/16/30		1,300,020
$	1,500,000	g	Egypt Government International Bond		7.053		01/15/32		1,316,838
	2,475,000	g	Egypt Government International Bond		8.500		01/31/47		2,105,482
	2,250,000	g	Egypt Government International Bond		8.875		05/29/50		1,942,875
	1,200,000	g	El Salvador Government International Bond		7.625		02/01/41		552,012
	900,000	†	European Bank for Reconstruction & Development		10.000		02/28/23		759,822
	1,375,000	g	Export-Import Bank of India		3.875		02/01/28		1,359,402
	2,625,000	g	Export-Import Bank of India		2.250		01/13/31		2,259,943
	2,200,000	g	Ghana Government International Bond		8.125		03/26/32		1,584,000
	1,675,000	g	Guatemala Government International Bond		4.375		06/05/27		1,684,213
	1,200,000	g	Guatemala Government International Bond		6.125		06/01/50		1,260,012
	425,000	g	Hungary Government International Bond		2.125		09/22/31		383,506
	1,200,000		Indonesia Government International Bond		3.550		03/31/32		1,232,226
	1,900,000	g	Indonesia Government International Bond		4.625		04/15/43		1,986,450
	1,762,500	g	Iraq Government International Bond		5.800		01/15/28		1,716,283
	3,100,000		Israel Government International Bond		3.250		01/17/28		3,183,231
EUR	125,000	g	Ivory Coast Government International Bond		4.875		01/30/32		121,310
$	985,417	g	Ivory Coast Government International Bond (Step Bond)		5.750		12/31/32		963,922
	3,025,000		Jamaica Government International Bond		8.000		03/15/39		3,932,530
	2,500,000	g	Japan Finance Organization for Municipalities		3.000		03/12/24		2,518,353
	1,750,000	g	Jordan Government International Bond		4.950		07/07/25		1,740,466
	550,000	g	Kazakhstan Government International Bond		4.875		10/14/44		541,535
	2,500,000	g	Kenya Government International Bond		7.000		05/22/27		2,401,346
	575,000	g	Kenya Government International Bond		6.300		01/23/34		491,263
	1,560,000	g	Kommunalbanken AS.		2.750		02/05/24		1,570,242
	1,500,000	g	Korea Housing Finance Corp		3.000		10/31/22		1,504,830
MYR	3,800,000		Malaysia Government Bond		3.828		07/05/34		866,722
MXN	18,000,000		Mexican Bonos		5.750		03/05/26		823,059
	16,300,000		Mexican Bonos		8.500		11/18/38		831,792
$	2,200,000		Mexico Government International Bond		4.150		03/28/27		2,312,178
	525,000	e	Mexico Government International Bond		3.250		04/16/30		505,349
	1,859,000		Mexico Government International Bond		6.050		01/11/40		2,105,150
	3,000,000		Mexico Government International Bond		4.280		08/14/41		2,796,510
	500,000	g	Mongolia Government International Bond		5.125		04/07/26		490,841
	1,025,000	g	Morocco Government International Bond		3.000		12/15/32		887,214
	2,575,000	g	Morocco Government International Bond		5.500		12/11/42		2,521,909
	525,000	g	Morocco Government International Bond		4.000		12/15/50		420,065
	1,400,000	g	Namibia Government International Bond		5.250		10/29/25		1,405,786
	1,500,000	g	Nederlandse Waterschapsbank NV		1.875		04/14/22		1,500,543
	300,000	g	Nigeria Government International Bond		6.500		11/28/27		284,510
	850,000	e,g,k	Nigeria Government International Bond		8.375		03/24/29		858,194
	1,250,000	e,g	Nigeria Government International Bond		7.375		09/28/33		1,135,398
	400,000	g	Oman Government International Bond		6.750		10/28/27		434,152
	1,000,000	e,g	Oman Government International Bond		6.250		01/25/31		1,057,376
	1,500,000	g	Oman Government International Bond		7.375		10/28/32		1,715,402

270

TIAA-CREF FUNDS - Core Plus Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	400,000	e,g	Oman Sovereign Sukuk Co			4.875	%	06/15/30	$	416,634
	1,250,000	e,g	Pakistan Global Sukuk Programme Co Ltd			7.950		01/31/29		1,165,675
	1,800,000		Panama Bonos del Tesoro			3.362		06/30/31		1,692,000
	1,600,000		Panama Notas del Tesoro			3.750		04/17/26		1,605,600
	925,000	g	Paraguay Government International Bond			4.700		03/27/27		962,000
	1,475,000	g	Paraguay Government International Bond			5.400		03/30/50		1,493,438
	2,225,000	g	Perusahaan Penerbit SBSN Indonesia III			4.400		03/01/28		2,389,650
	990,000		Peruvian Government International Bond			3.000		01/15/34		922,838
	990,000	k	Philippine Government International Bond			4.200		03/29/47		1,032,962
	1,836,781	g	Provincia de Buenos Aires (Step Bond)			3.900		09/01/37		782,487
	1,500,000	g	Provincia de Mendoza Argentina (Step Bond)			4.250		03/19/29		993,750
	700,000	g	Qatar Government International Bond			3.400		04/16/25		712,542
	1,375,000	g	Qatar Government International Bond			3.750		04/16/30		1,448,287
	2,600,000	g	Qatar Government International Bond			4.400		04/16/50		2,922,651
GHS	8,800,000		Republic of Ghana Government Bonds			16.500		02/06/23		1,161,721
$	5,000,000		Republic of Italy Government International Bond			4.000		10/17/49		4,797,290
UZS	5,320,000,000	g	Republic of Uzbekistan Bond			14.500		11/25/23		426,195
$	2,150,000	g	Republic of Uzbekistan International Bond			4.750		02/20/24		2,148,766
UZS	5,708,925,000	g	Republic of Uzbekistan International Bond			14.000		07/19/24		435,988
$	1,050,000	g	Romanian Government International Bond			4.375		08/22/23		1,072,386
	1,820,000	g	Romanian Government International Bond			3.000		02/27/27		1,763,325
	1,425,000	g	Romanian Government International Bond			4.000		02/14/51		1,232,481
RUB	74,000,000	†	Russian Federal Bond-OFZ			6.000		10/06/27		27,323
$	1,600,000	†,g	Russian Foreign Bond - Eurobond			5.100		03/28/35		256,000
	3,150,000	g	Rwanda International Government Bond			5.500		08/09/31		2,871,051
	1,175,000	g	Saudi Government International Bond			4.500		04/17/30		1,284,645
	2,000,000	g	Saudi Government International Bond			3.750		01/21/55		1,924,448
	1,225,000	g	Serbia International Bond			2.125		12/01/30		1,022,435
	2,350,000		South Africa Government International Bond			4.300		10/12/28		2,268,177
ZAR	9,000,000		South Africa Government International Bond			7.000		02/28/31		513,344
	9,300,000		South Africa Government International Bond			8.750		01/31/44		535,611
$	2,800,000		South Africa Government International Bond			5.375		07/24/44		2,465,295
	2,400,000		State of Israel			3.800		05/13/60		2,399,775
THB	18,500,000		Thailand Government International Bond			2.875		12/17/28		579,940
	18,500,000		Thailand Government International Bond			3.300		06/17/38		558,782
$	2,500,000	g	Turkiye Ihracat Kredi Bankasi AS.			5.750		07/06/26		2,281,687
	1,250,000	g	Ukraine Government International Bond			6.876		05/21/29		512,500
EUR	850,000	g	Ukraine Government International Bond			4.375		01/27/30		385,528
UYU	59,000,000	g	Uruguay Government International Bond			9.875		06/20/22		1,439,657
$	1,850,000		Uruguay Government International Bond			4.125		11/20/45		2,003,254
	1,500,000	g	Zambia Government International Bond			8.500		04/14/24		1,083,420
			TOTAL FOREIGN GOVERNMENT BONDS							170,848,986
MORTGAGE BACKED - 16.9%
	5,690,000	g,i	Connecticut Avenue Securities Trust			1.999		12/25/41		5,426,357
	3,000,000	g,i	Connecticut Avenue Securities Trust			4.599		01/25/42		2,830,882
	4,985,000	g,i	Connecticut Avenue Securities Trust			6.349		03/25/42		5,103,876
	1,765,264	i	Federal Home Loan Mortgage Corp (FHLMC)	LIBOR 1 M + 5.920%		5.523		03/15/44		244,764
	5,791,832		FHLMC			4.000		10/01/47		6,008,110
	282,502		FHLMC			4.000		06/01/48		292,346
	3,619,664	i	FHLMC	LIBOR 1 M + 9.920%		9.285		06/15/48		3,997,200
	185,674		FHLMC			4.000		07/01/48		192,504

271

TIAA-CREF FUNDS - Core Plus Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	2,614,409	i	FHLMC	LIBOR 1 M + 9.840%		9.205	%	10/15/48	$	2,821,009
	45,090,414		FHLMC			3.000		11/01/49		44,383,834
	8,368,922		FHLMC			2.000		09/25/50		968,983
	12,030,647		FHLMC			2.500		11/25/50		2,018,094
	15,794,976		FHLMC			2.500		02/25/51		2,755,069
	4,281,037		FHLMC			3.000		11/01/51		4,223,116
	6,650,665		FHLMC			3.000		11/01/51		6,582,772
	836,444		FHLMC			3.000		11/01/51		831,522
	1,186,658		FHLMC			3.000		11/01/51		1,174,544
	16,032,071	h	FHLMC			2.000		02/01/52		14,915,187
	17,246,286	h	FHLMC			2.500		02/01/52		16,484,924
	15,700,000	h	FHLMC			2.500		03/01/52		15,030,809
	20,520,000	h	FHLMC			2.500		03/01/52		19,608,821
	407		Federal Home Loan Mortgage Corp Gold (FGLMC)			8.000		01/01/31		413
	135,646		FGLMC			7.000		12/01/33		148,047
	23,579		FGLMC			4.500		10/01/34		24,978
	38,515		FGLMC			7.000		05/01/35		41,660
	1,229,533		FGLMC			5.000		06/01/36		1,330,724
	579,591		FGLMC			4.500		10/01/44		614,591
	93,943		FGLMC			4.500		11/01/44		99,948
	122,045		FGLMC			4.500		11/01/44		128,871
	102,349		FGLMC			4.500		12/01/44		109,024
	66,906		FGLMC			4.500		12/01/44		70,091
	611,602		FGLMC			3.500		04/01/45		624,033
	2,392,212		FGLMC			3.500		08/01/45		2,440,835
	1,348,064		FGLMC			3.500		10/01/45		1,374,886
	3,072,351		FGLMC			4.000		12/01/45		3,216,002
	11,459,097		FGLMC			3.500		08/01/46		11,682,249
	1,520,685		FGLMC			4.500		06/01/47		1,622,439
	1,788,001		FGLMC			4.000		09/01/47		1,867,131
	1,719,933		FGLMC			3.500		12/01/47		1,748,123
	1,317,402		FGLMC			4.000		07/01/48		1,366,850
	10,004,997		FGLMC			4.500		08/01/48		10,558,161
	11		Federal National Mortgage Association (FNMA)			7.000		07/01/22		11
	64		FNMA			6.500		07/25/22		65
	898		FNMA			9.000		11/01/25		945
	10,322		FNMA			7.000		05/01/26		10,779
	33,218		FNMA			7.000		07/25/26		34,913
	1,006		FNMA			7.500		01/01/29		1,063
	426		FNMA			7.500		02/01/30		454
	126,468		FNMA			6.500		12/01/31		134,874
	265,357		FNMA			6.000		04/01/32		282,056
	1,300,954		FNMA			3.500		05/01/32		1,338,076
	174,795		FNMA			7.000		07/01/32		193,701
	55,685		FNMA			7.000		07/01/32		60,060
	37,204		FNMA			7.000		07/01/32		40,541
	1,442,503		FNMA			3.500		11/01/32		1,494,197
	37,153		FNMA			4.500		10/01/33		39,526
	31,233		FNMA			6.000		03/01/34		32,736
	1,652,510		FNMA			5.000		05/01/35		1,785,492
	61,731		FNMA			5.000		06/25/35		62,389
	963,681		FNMA			5.000		10/01/35		1,042,226

272

TIAA-CREF FUNDS - Core Plus Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	716,119		FNMA			5.000	%	02/01/36	$	774,753
	38,345,000	h	FNMA			2.000		04/25/37		37,241,083
	16,855,000	h	FNMA			2.500		04/25/37		16,656,822
	11,740,000	h	FNMA			3.000		04/25/37		11,820,713
	961,171		FNMA			6.500		08/01/37		1,034,117
	52,229		FNMA			6.000		09/01/37		55,843
	680,363		FNMA			5.500		11/01/38		750,314
	545,484		FNMA			5.500		03/01/39		596,936
	545,958		FNMA			6.000		09/01/39		609,154
	6,612,836		FNMA			3.000		05/01/40		6,559,617
	2,274,244		FNMA			3.500		05/01/40		2,298,287
	253,464		FNMA			5.000		09/01/40		274,236
	419,587		FNMA			5.000		05/01/41		453,984
	12,911,542		FNMA			2.000		03/01/42		12,065,219
	2,987,274		FNMA			4.000		09/01/42		3,106,145
	403,002	†,i	FNMA			2.797		12/25/42		190,555
	2,589,762	i	FNMA	LIBOR 1 M + 5.950%		5.493		09/25/43		410,750
	2,359,140		FNMA			4.000		01/01/44		2,465,897
	820,496		FNMA			4.500		02/01/44		872,295
	178,551		FNMA			4.500		03/01/44		190,650
	691,484		FNMA			4.500		06/01/44		735,357
	2,094,681		FNMA			4.500		10/01/44		2,227,030
	353,638		FNMA			4.000		11/01/44		368,573
	580,696		FNMA			5.000		11/01/44		628,036
	544,368		FNMA			4.000		01/01/45		566,821
	213,706		FNMA			4.500		03/01/45		226,343
	1,510,615		FNMA			3.500		05/01/45		1,537,618
	4,134,817		FNMA			4.000		06/01/45		4,322,782
	1,695,258		FNMA			4.000		12/01/45		1,768,559
	393,700		FNMA			4.000		12/01/45		409,927
	701,543		FNMA			3.500		01/01/46		714,664
	3,737,549		FNMA			4.000		01/01/46		3,900,104
	2,194,918		FNMA			4.000		03/01/46		2,294,805
	494,331		FNMA			4.000		04/01/46		515,802
	337,024		FNMA			3.500		06/01/46		342,958
	3,667,999		FNMA			3.500		07/01/46		3,736,612
	4,803,280		FNMA			3.500		07/01/46		4,899,027
	85,774		FNMA			3.000		08/01/46		84,898
	1,798,195		FNMA			3.000		10/01/46		1,746,764
	1,305,327		FNMA			3.500		10/01/46		1,327,714
	8,387,065		FNMA			3.500		01/01/47		8,501,269
	1,762,968		FNMA			4.500		05/01/47		1,874,279
	1,432,479		FNMA			4.000		09/01/47		1,477,863
	12,494,197		FNMA			4.000		09/01/47		12,872,595
	1,345,308		FNMA			3.500		11/01/47		1,372,068
	5,676,157		FNMA			4.000		12/01/47		5,875,018
	500,858		FNMA			4.000		12/01/47		516,267
	11,574,000		FNMA			3.500		01/01/48		11,744,899
	5,940,873		FNMA			4.500		01/01/48		6,264,136
	1,246,373		FNMA			4.500		02/01/48		1,314,163
	2,134,683		FNMA			4.000		03/01/48		2,214,063
	4,997,352		FNMA			4.500		03/01/48		5,268,919
	294,636		FNMA			4.000		04/01/48		301,244
	4,168,501		FNMA			4.500		05/01/48		4,395,262

273

TIAA-CREF FUNDS - Core Plus Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	3,310,913		FNMA		4.500	%	05/01/48	$	3,491,013
	2,341,164		FNMA		5.000		08/01/48		2,508,394
	1,556		FNMA		3.000		05/01/49		1,510
	5,809,533		FNMA		2.000		08/25/50		764,216
	15,254,553		FNMA		2.500		11/25/50		2,218,427
	91,691		FNMA		3.000		02/25/51		16,597
	36,453,675		FNMA		2.000		04/01/51		33,924,566
	3,769,217		FNMA		3.000		09/01/51		3,715,513
	5,411,776		FNMA		2.500		11/25/51		778,590
	19,363,425	h	FNMA		2.000		12/01/51		18,001,118
	22,146,033	h	FNMA		2.500		01/01/52		21,162,665
	15,178,842	h	FNMA		2.000		02/01/52		14,121,352
	27,865,307	h	FNMA		2.500		02/01/52		26,627,918
	15,129,159	h	FNMA		2.500		02/01/52		14,470,819
	13,453,504	h	FNMA		2.500		02/01/52		12,880,055
	14,040,558	h	FNMA		2.500		02/01/52		13,414,273
	879,329		FNMA		3.000		02/01/52		861,216
	18,075,652		FNMA		3.500		02/01/52		18,288,129
	10,955,343	h	FNMA		2.000		03/01/52		10,185,306
	10,374,594	h	FNMA		2.000		03/01/52		9,645,380
	796,733		FNMA		3.000		03/01/52		780,237
	12,240,000	h	FNMA		2.500		04/01/52		11,696,469
	18,595,000	h	FNMA		2.000		04/25/52		17,260,664
	14,393,000	h	FNMA		2.500		04/25/52		13,731,822
	76,782,000	h	FNMA		3.000		04/25/52		75,102,394
	12,500,000	h	FNMA		4.000		04/25/52		12,757,812
	2,050,000	g,i	Freddie Mac STACR REMIC Trust		3.499		10/25/41		1,891,256
	1,735,000	g,i	Freddie Mac STACR REMIC Trust		3.550		03/25/42		1,766,496
	820,000	g,i	Freddie Mac Structured Agency Credit Risk Debt Notes		2.399		08/25/33		808,318
	3,530,000	g,i	Freddie Mac Structured Agency Credit Risk Debt Notes		3.700		11/25/41		3,341,933
	13,000,000	g,i	Freddie Mac Structured Agency Credit Risk Debt Notes		2.499		02/25/42		12,649,146
	65,128		Government National Mortgage Association (GNMA)		5.000		02/15/33		70,309
	101,076		GNMA		5.000		09/15/33		110,760
	3,600,466		GNMA		3.700		10/15/33		3,636,757
	10,371		GNMA		5.500		04/15/34		11,157
	11,890		GNMA		5.000		04/15/38		12,946
	693,067		GNMA		4.500		02/20/41		743,847
	959,304		GNMA		4.500		12/20/45		1,031,840
	3,082,958		GNMA		4.000		06/20/46		387,613
	5,840,000	h	GNMA		2.000		04/20/52		5,555,300
	39,215,000	h	GNMA		2.500		04/20/52		38,033,954
	42,815,000	h	GNMA		3.000		04/20/52		42,311,589
	4,552,730	g,i	GS Mortgage-Backed Securities Trust		2.500		03/25/52		4,153,342
	3,643,395	g,i	GS Mortgage-Backed Securities Trust		2.500		03/25/52		3,474,622
	2,736,745	g,i	GS Mortgage-Backed Securities Trust		2.500		05/01/52		2,626,742
	4,100,000	†,g,i	GS MortSecurities Trust		3.000		08/26/52		3,811,078
	2,570,000	g,i	J.P. Morgan Mortgage Trust		3.000		09/25/52		2,404,456
	6,783,148	g,i	JP Morgan Mortgage Trust		2.500		07/25/52		6,213,473
	2,548,992	g,i	JP Morgan Mortgage Trust		3.250		07/25/52		2,443,966
	7,075,000	g,i	JP Morgan Mortgage Trust		3.000		08/25/52		6,610,426
	7,053,205	g,i	RCKT Mortgage Trust		2.500		02/25/52		6,442,222
			TOTAL MORTGAGE BACKED						885,241,695

274

TIAA-CREF FUNDS - Core Plus Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
MUNICIPAL BONDS - 1.5%
$	9,745,000		Chicago Housing Authority		3.922	%	01/01/27	$	10,065,400
	5,500,000		City of Cleveland OH Airport System Revenue		2.492		01/01/25		5,394,904
	4,155,000		City of Cleveland OH Airport System Revenue		2.832		01/01/30		3,978,105
	1,040,000		City of Fort Worth TX		3.955		03/01/32		1,064,071
	1,390,000		City of Fort Worth TX		4.088		03/01/37		1,424,815
	2,500,000		City of Inglewood CA		4.300		09/01/40		2,611,587
	2,995,000		County of Miami-Dade FL Aviation Revenue		2.218		10/01/22		3,006,582
	1,555,000		County of Miami-Dade FL Aviation Revenue		3.354		10/01/29		1,551,164
	5,475,000		County of Miami-Dade FL Aviation Revenue		4.280		10/01/41		5,632,264
	2,000,000		Denver City & County School District No. 1		4.242		12/15/37		2,135,212
	2,000,000		Florida Municipal Power Agency		2.769		10/01/23		2,013,329
	2,100,000		Florida Municipal Power Agency		2.919		10/01/24		2,104,718
	3,000,000		Florida Municipal Power Agency		3.059		10/01/25		3,008,055
	7,920,000		Grand Parkway Transportation Corp		3.236		10/01/52		7,152,347
	205,000		Illinois Housing Development Authority		4.105		07/01/27		205,250
	3,840,000		Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy		3.375		09/01/35		3,956,057
	1,250,000		Maryland Community Development Administration Housing Revenue		2.713		03/01/25		1,239,171
	1,095,000		Massachusetts Housing Finance Agency		4.621		12/01/38		1,110,823
	545,000		Massachusetts Housing Finance Agency		4.721		06/01/40		551,829
	3,000,000	†,g,q	Oregon State Business Development Commission		6.500		04/01/31		219,000
	780,000	†,g	Oregon State Business Development Commission		0.000		04/01/37		56,940
	2,000,000		Port of Seattle WA		3.471		05/01/31		2,013,042
	860,000		Public Finance Authority		4.269		07/01/40		908,456
	5,000,000		Rhode Island Convention Center Authority		3.195		05/15/26		5,010,447
	3,750,000		Rhode Island Convention Center Authority		3.265		05/15/27		3,768,126
	2,045,000		Sangamon County Water Reclamation District		3.272		01/01/37		1,913,299
	2,100,000		State of Colorado		4.047		09/01/38		2,210,017
	4,157,164	g	Virgin Islands Water & Power Authority-Electric System		7.500		07/01/22		4,162,477
	1,245,000		Wake Forest University		3.093		06/01/26		1,231,325
			TOTAL MUNICIPAL BONDS						79,698,812
U.S. TREASURY SECURITIES - 13.4%
	9,700,000		United States Treasury Bond		1.875		02/15/41		8,637,168
	22,630,000		United States Treasury Bond		2.250		05/15/41		21,363,250
	40,800,000		United States Treasury Bond		1.750		08/15/41		35,362,125
	19,500,000		United States Treasury Bond		2.000		11/15/41		17,644,453
	81,886,900		United States Treasury Bond		2.250		02/15/42		78,982,474
	23,295,000		United States Treasury Bond		1.875		11/15/51		20,434,083
	196,961,000	d	United States Treasury Bond		2.250		02/15/52		188,897,909
	25,349,000	k	United States Treasury Inflation Indexed Bonds		0.125		01/15/32		26,957,572
	3,900,000		United States Treasury Note		0.125		06/30/22		3,895,582
	665,000		United States Treasury Note		0.125		10/31/22		660,896
	13,975,000		United States Treasury Note		0.125		12/31/22		13,839,617
	19,715,000		United States Treasury Note		0.125		01/31/23		19,481,654
	4,795,000		United States Treasury Note		0.125		02/28/23		4,730,567
	550,000		United States Treasury Note		0.125		05/31/23		538,764
	89,430,000	e	United States Treasury Note		1.500		02/29/24		88,126,977
	30,000		United States Treasury Note		0.375		07/15/24		28,634
	14,415,000		United States Treasury Note		1.750		03/15/25		14,109,807
	9,000,000		United States Treasury Note		0.875		09/30/26		8,377,383
	67,270,000		United States Treasury Note		1.875		02/28/27		65,467,374
	1,200,000		United States Treasury Note		2.500		03/31/27		1,204,324
	2,350,000		United States Treasury Note		1.375		10/31/28		2,196,883
	35,225,000		United States Treasury Note		1.875		02/28/29		34,003,133

275

TIAA-CREF FUNDS - Core Plus Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	800,000		United States Treasury Note			2.375	%	03/31/29	$	797,625
	52,200,000		United States Treasury Note			1.875		02/15/32		50,128,313
			TOTAL U.S. TREASURY SECURITIES							705,866,567
			TOTAL GOVERNMENT BONDS							1,841,656,060
			(Cost $1,894,941,790)
STRUCTURED ASSETS - 18.1%
ASSET BACKED - 8.7%
	1,051,325	g	AASET Trust			6.413		01/16/40		211,380
			Series - 2020 1A (Class C)
	6,526,554	g	Adams Outdoor Advertising LP			4.810		11/15/48		6,606,948
			Series - 2018 1 (Class A)
	6,500,000	g	Adams Outdoor Advertising LP			7.356		11/15/48		6,456,118
			Series - 2018 1 (Class C)
	2,500,000	g	Affirm Asset Securitization Trust			2.540		08/17/26		2,313,431
			Series - 2021 B (Class D)
	1,500,000	g	Affirm Asset Securitization Trust			4.610		08/17/26		1,408,490
			Series - 2021 B (Class E)
	420,731		American Airlines Pass Through Trust			3.575		01/15/28		399,743
			Series - 2016 1 (Class AA)
	1,358,696	g	AMSR Trust			1.819		04/17/37		1,288,543
			Series - 2020 SFR1 (Class A)
	3,000,000	g	AMSR Trust			3.218		04/17/37		2,871,008
			Series - 2020 SFR1 (Class E)
	2,625,000	g	AMSR Trust			3.247		01/19/39		2,485,613
			Series - 2019 SFR1 (Class D)
	9,000,000	g,i	Apidos CLO XXIV	LIBOR 3 M + 1.350%		1.604		10/20/30		8,857,926
			Series - 2016 24A (Class A2LX)
	1,000,000	g,i	Apidos CLO XXIX	LIBOR 3 M + 1.550%		1.808		07/25/30		990,829
			Series - 2018 29A (Class A2)
	5,272,911	g	Apollo aviation securitization			2.798		01/15/47		4,850,592
			Series - 2021 2A (Class A)
	3,974,850	g	Applebee’s Funding LLC			4.194		06/05/49		3,944,597
			Series - 2019 1A (Class A2I)
	1,712,700	g	Applebee’s Funding LLC			4.723		06/05/49		1,707,925
			Series - 2019 1A (Class A2II)
	488,388	g,i	AREIT Trust	LIBOR 1 M + 1.134%		1.184		09/14/36		486,698
			Series - 2019 CRE3 (Class A)
	1,500,000	g	Avis Budget Rental Car Funding AESOP LLC			4.150		09/20/23		1,505,417
			Series - 2017 1A (Class C)
	7,500,000	g	Avis Budget Rental Car Funding AESOP LLC			2.970		03/20/24		7,527,662
			Series - 2017 2A (Class A)
	1,910,000	g	Avis Budget Rental Car Funding AESOP LLC			4.240		09/22/25		1,923,350
			Series - 2019 2A (Class C)
	3,100,000	g	Avis Budget Rental Car Funding AESOP LLC			2.130		08/20/27		2,824,067
			Series - 2021 1A (Class C)

276

TIAA-CREF FUNDS - Core Plus Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	6,575,000	g	Avis Budget Rental Car Funding AESOP LLC			4.080	%	02/20/28	$	6,101,192
			Series - 2021 2A (Class D)
	9,196	i	Bayview Financial Mortgage Pass-Through Trust			5.500		12/28/35		9,146
			Series - 2005 D (Class AF4)
	1,400,000	g	Bojangles Issuer LLC			3.832		10/20/50		1,368,828
			Series - 2020 1A (Class A2)
	1,000,000	g,i	Bonanza RE Ltd	U.S. Treasury Bill 3 M + 4.750%		5.258		12/23/24		999,400
			Series - 2020 A (Class )
	2,625,000	g,i	Boyce Park Clo Ltd	SOFR + 3.100%		3.648		04/21/35		2,590,455
			Series - 2022 1A (Class D)
	1,972,734	g	BRE Grand Islander Timeshare Issuer LLC			3.280		09/26/33		1,946,327
			Series - 2019 A (Class A)
	652,465	g	British Airways Pass Through Trust			8.375		11/15/28		720,326
			Series - 2020 A (Class )
	2,329,511	g	British Airways Pass Through Trust			3.800		09/20/31		2,297,511
			Series - 2018 1 (Class AA)
	847,413	g	British Airways Pass Through Trust			4.250		11/15/32		846,551
			Series - 2020 A (Class )
	5,100,000	g	Capital Automotive REIT			4.520		02/15/50		4,992,971
			Series - 2020 1A (Class B2)
	3,170,000	g	Capital Automotive REIT			1.920		08/15/51		2,954,046
			Series - 2021 1A (Class A3)
	2,484,375	g	Cars Net Lease Mortgage Notes Series			3.100		12/15/50		2,345,530
			Series - 2020 1A (Class A3)
	2,500,000	g	Cars Net Lease Mortgage Notes Series			4.690		12/15/50		2,480,778
			Series - 2020 1A (Class B1)
	5,625,000		Carvana Auto Receivables Trust			2.300		09/11/28		5,395,443
			Series - 2021 N4 (Class D)
	3,250,000	g,i	Cayuga Park CLO Ltd	LIBOR 3 M + 3.100%		1.000		07/17/34		3,224,250
			Series - 2020 1A (Class DR)
	1,250,000	g,i	Cayuga Park CLO Ltd	LIBOR 3 M + 6.000%		1.000		07/17/34		1,189,580
			Series - 2020 1A (Class ER)
	726,926	i	C-BASS Trust	LIBOR 1 M + 0.160%		0.617		07/25/36		704,367
			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)
	47,619	†,g	CCR, Inc			4.750		07/10/22		47,857
			Series - 2012 CA (Class C)
	11,995		Centex Home Equity			5.540		01/25/32		11,798
			Series - 2002 A (Class AF6)
	6,443,524	g	CF Hippolyta LLC			2.280		07/15/60		6,076,876
			Series - 2020 1 (Class B1)
	2,871,971	g	CF Hippolyta LLC			2.600		07/15/60		2,641,195
			Series - 2020 1 (Class B2)
	10,368,433	g	CF Hippolyta LLC			1.530		03/15/61		9,633,298
			Series - 2021 1A (Class A1)
	8,680,548	g	CF Hippolyta LLC			1.980		03/15/61		7,985,803
			Series - 2021 1A (Class B1)
	4,375,000	g,i	CIFC Funding	LIBOR 3 M + 1.450%		1.691		04/15/34		4,266,391
			Series - 2021 2A (Class B)
	1,500,000	g,i	CIFC Funding Ltd	LIBOR 3 M + 2.300%		2.544		01/17/35		1,489,193
			Series - 2014 4RA (Class BR)

277

TIAA-CREF FUNDS - Core Plus Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	6,360,000	g	Cologix Data Centers US Issuer LLC			3.300	%	12/26/51	$	6,121,351
			Series - 2021 1A (Class A2)
	1,305,967	g	Corevest American Finance Trust			1.832		03/15/50		1,249,230
			Series - 2020 1 (Class A1)
	21,385		Countrywide Asset-Backed Certificates (Step Bond)			5.216		10/25/27		21,635
			Series - 2002 S4 (Class A5)
	9,850,000	g	Crescendo Royalty Funding LP			3.567		12/20/51		9,325,532
			Series - 2021 1 (Class A)
	4,372,875	g	DB Master Finance LLC			4.021		05/20/49		4,381,337
			Series - 2019 1A (Class A2II)
	3,168,750	g	DB Master Finance LLC			4.352		05/20/49		3,165,870
			Series - 2019 1A (Class A23)
	4,239,375	g	DB Master Finance LLC			2.045		11/20/51		3,867,734
			Series - 2021 1A (Class A2I)
	6,882,750	g	DB Master Finance LLC			2.493		11/20/51		6,204,951
			Series - 2021 1A (Class A2II)
	2,892,750	g	DB Master Finance LLC			2.791		11/20/51		2,591,103
			Series - 2021 1A (Class A23)
	1,527,938	g	Diamond Resorts Owner Trust			3.700		01/21/31		1,531,380
			Series - 2018 1 (Class A)
	407,450	g	Diamond Resorts Owner Trust			5.900		01/21/31		401,818
			Series - 2018 1 (Class D)
	1,492,011	g	Diamond Resorts Owner Trust			2.700		11/21/33		1,446,871
			Series - 2021 1A (Class C)
	777,089	g	Diamond Resorts Owner Trust			3.830		11/21/33		753,877
			Series - 2021 1A (Class D)
	4,661,700	g	Domino’s Pizza Master Issuer LLC			4.474		10/25/45		4,699,390
			Series - 2015 1A (Class A2II)
	1,548,000	g	Domino’s Pizza Master Issuer LLC			4.116		07/25/48		1,555,291
			Series - 2018 1A (Class A2I)
	2,910,000	g	Driven Brands Funding LLC			4.641		04/20/49		2,896,931
			Series - 2019 1A (Class A2)
	2,955,000	g	Driven Brands Funding LLC			3.786		07/20/50		2,821,186
			Series - 2020 1A (Class A2)
	2,920,500	g	Driven Brands Funding LLC			3.237		01/20/51		2,736,371
			Series - 2020 2A (Class A2)
	2,000,000	g,i	Dryden 49 Senior Loan Fund	LIBOR 3 M + 3.400%		3.641		07/18/30		2,000,164
			Series - 2017 49A (Class DR)
	964,832	g,i	Ellington Loan Acquisition Trust	LIBOR 1 M + 1.100%		1.557		05/25/37		962,613
			Series - 2007 2 (Class A2C)
	5,000,000	g,h	EWC Master Issuer LLC			5.500		03/15/52		4,804,095
			Series - 2022 1A (Class A2)
	1,500,000	g,i	First Coast Re III Pte Ltd	U.S. Treasury Bill 3 M + 6.000%		6.518		04/07/25		1,494,600
			Series - 2020 A (Class )
	8,898,469	g	Flexential Issuer, LLC			3.250		11/27/51		8,424,940
			Series - 2021 1A (Class A2)
	1,000,000	g,i	GoldenTree Loan Opportunities IX Ltd	LIBOR 3 M + 5.660%		5.959		10/29/29		952,494
			Series - 2014 9A (Class ER2)
	6,418,750	g	Hardee’s Funding LLC			3.981		12/20/50		6,207,361
			Series - 2020 1A (Class A2)

278

TIAA-CREF FUNDS - Core Plus Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	312,378	g	HERO Funding Trust			3.280	%	09/20/48	$	308,017
			Series - 2017 2A (Class A1)
	624,757	g	HERO Funding Trust			4.070		09/20/48		622,993
			Series - 2017 2A (Class A2)
	5,025,000	g	Hertz Vehicle Financing LLC			2.050		12/26/25		4,731,744
			Series - 2021 1A (Class C)
	5,000,000	g	Hertz Vehicle Financing LLC			3.980		12/26/25		4,672,911
			Series - 2021 1A (Class D)
	3,750,000	g	HIFI A2			3.939		02/01/62		3,742,641
			Series - 2022 1A (Class A2)
	535,244	g	Hilton Grand Vacations Trust			2.660		12/26/28		534,768
			Series - 2017 AA (Class A)
	892,074	g	Hilton Grand Vacations Trust			2.960		12/26/28		889,279
			Series - 2017 AA (Class B)
	847,012	g	Hilton Grand Vacations Trust			4.000		02/25/32		840,789
			Series - 2018 AA (Class C)
	2,069,646	g	Hilton Grand Vacations Trust			2.840		07/25/33		2,014,404
			Series - 2019 AA (Class C)
	36,887	i	Home Equity Asset Trust	LIBOR 1 M + 1.500%		3.986		06/25/33		36,872
			Series - 2003 1 (Class M1)
	2,169,194	g	Horizon Aircraft Finance II Ltd			3.721		07/15/39		1,933,431
			Series - 2019 1 (Class A)
	7,930,742	g	Horizon Aircraft Finance III Ltd			3.425		11/15/39		7,305,086
			Series - 2019 2 (Class A)
	2,900,000	g	Hotwire Funding LLC			2.658		11/20/51		2,714,103
			Series - 2021 1 (Class B)
	1,750,000	g	Hotwire Funding LLC			4.459		11/20/51		1,621,657
			Series - 2021 1 (Class C)
	3,000,000	†,g	Industrial DPR Funding Ltd			5.380		04/15/34		3,000,000
			Series - 2022 1A (Class 1)
	499,977	g,i	Invitation Homes Trust	LIBOR 1 M + 1.250%		1.691		01/17/38		499,712
			Series - 2018 SFR4 (Class B)
	1,000,000	g,i	Kendall Re Ltd	U.S. Treasury Bill 3 M + 4.000%		4.040		05/02/24		985,100
			Series - 2020 A (Class )
	1,757,961	g	Lunar Aircraft Ltd			4.335		02/15/45		1,479,596
			Series - 2020 1A (Class B)
	2,909,141	g	Lunar Structured Aircraft Portfolio Notes			5.682		10/15/46		2,436,797
			Series - 2021 1 (Class C)
	4,000,000	g,i	Madison Park Funding LIX Ltd	LIBOR 3 M + 2.100%		2.345		01/18/34		3,953,068
			Series - 2021 59A (Class C)
	1,000,000	g,i	Madison Park Funding XXXVI Ltd			3.804		04/15/35		993,343
			Series - 2019 36A (Class D1R)
	3,500,000	g,i	Magnetite XXIII Ltd	LIBOR 3 M + 2.050%		1.000		01/25/35		3,476,193
			Series - 2019 23A (Class CR)
	1,000,000	g,i	Magnetite XXIII Ltd	LIBOR 3 M + 6.300%		1.000		01/25/35		969,643
			Series - 2019 23A (Class ER)
	2,685,555	g	MAPS Trust			2.521		06/15/46		2,483,647
			Series - 2021 1A (Class A)
	2,232,250	g	MAPS Trust			5.437		06/15/46		1,693,410
			Series - 2021 1A (Class C)

279

TIAA-CREF FUNDS - Core Plus Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	110,581		MASTR Asset Backed Securities Trust (Step Bond)			6.148	%	11/25/35	$	110,194
			Series - 2005 AB1 (Class A4)
	635,386		Mid-State Capital Trust			5.745		01/15/40		640,669
			Series - 2005 1 (Class A)
	1,290,632	g	Mosaic Solar Loans LLC			3.820		06/22/43		1,274,579
			Series - 2017 2A (Class A)
	800,000	g,i	MSCG Trust			3.462		06/07/35		692,259
			Series - 2015 ALDR (Class C)
	4,310,000	g,i	MSCG Trust			3.462		06/07/35		3,406,712
			Series - 2015 ALDR (Class D)
	1,749,971	g	MVW LLC			2.230		05/20/39		1,643,338
			Series - 2021 2A (Class C)
	446,768	g	MVW Owner Trust			2.640		12/20/33		447,073
			Series - 2016 1A (Class B)
	1,038,936	g	MVW Owner Trust			3.900		01/21/36		1,032,795
			Series - 2018 1A (Class C)
	1,054,105	g	MVW Owner Trust			3.330		11/20/36		1,027,760
			Series - 2019 1A (Class C)
	1,180,000	g,i	Myers Park CLO Ltd	LIBOR 3 M + 1.600%		1.854		10/20/30		1,166,444
			Series - 2018 1A (Class B1)
	1,990,000	g	NBC Funding LLC			2.989		07/30/51		1,853,661
			Series - 2021 1 (Class A2)
	2,000,000	g	NBC Funding LLC			4.970		07/30/51		1,858,106
			Series - 2021 1 (Class B)
	1,000,000	g,i	Neuberger Berman CLO Ltd			3.928		04/25/36		993,351
			Series - 2022 48A (Class D)
	3,500,000	g,i	Neuberger Berman Loan Advisers CLO 31 Ltd	LIBOR 3 M + 3.250%		3.504		04/20/31		3,466,190
			Series - 2019 31A (Class DR)
	2,000,000	g,i	Neuberger Berman Loan Advisers CLO 31 Ltd	LIBOR 3 M + 6.500%		6.754		04/20/31		1,946,878
			Series - 2019 31A (Class ER)
	1,000,000	g,i	Neuberger Berman Loan Advisers CLO 37 Ltd	LIBOR 3 M + 2.850%		3.104		07/20/31		978,693
			Series - 2020 37A (Class DR)
	2,050,000	g,i	Neuberger Berman Loan Advisers Clo 40 Ltd	LIBOR 3 M + 2.750%		2.991		04/16/33		1,991,995
			Series - 2021 40A (Class D)
	1,000,000	g,i	Neuberger Berman Loan Advisers CLO 41 Ltd	LIBOR 3 M + 6.500%		6.741		04/15/34		980,194
			Series - 2021 41A (Class E)
	1,000,000	g	Oak Street Investment Grade Net Lease Fund Series			4.230		01/20/51		963,012
			Series - 2021 1A (Class B1)
	144,490		Oakwood Mortgage Investors, Inc			5.410		11/15/32		145,119
			Series - 2002 C (Class A1)
	950,000	g	Oportun Funding XIV LLC			3.440		03/08/28		920,972
			Series - 2021 A (Class C)
	1,000,000	g	Oportun Funding XIV LLC			5.400		03/08/28		968,787
			Series - 2021 A (Class D)
	3,490,000	g	Oportun Issuance Trust			5.410		05/08/31		3,361,914
			Series - 2021 B (Class D)
	1,000,000	g,i	Palmer Square CLO Ltd	LIBOR 3 M + 2.950%		3.182		01/15/35		974,457
			Series - 2021 3A (Class D)
	2,500,000	g,i	Palmer Square CLO Ltd			3.516		04/20/35		2,467,155
			Series - 2022 1A (Class D)

280

TIAA-CREF FUNDS - Core Plus Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	7,125,000	g	PFS Financing Corp			0.930	%	08/15/24	$	7,100,042
			Series - 2020 F (Class A)
	2,285,000	g	Progress Residential Trust			2.082		10/17/38		2,036,913
			Series - 2021 SFR8 (Class D)
	600,000	g	Progress Residential Trust			2.711		11/17/40		529,707
			Series - 2021 SFR9 (Class D)
	1,000,000	g	Purchasing Power Funding LLC			4.370		10/15/25		978,578
			Series - 2021 A (Class D)
	7,620,202	g	Purewest Funding LLC			4.091		12/22/36		7,374,723
			Series - 2021 1 (Class A1)
	2,250,000	g,i	Putnam RE PTE Ltd			6.018		06/07/24		2,262,600
			Series - 2020 A (Class )
	1,250,000	g	Regional Management Issuance Trust			3.040		03/17/31		1,171,984
			Series - 2021 1 (Class C)
	800,000	g	Regional Management Issuance Trust			5.070		03/17/31		758,950
			Series - 2021 1 (Class D)
	500,000	g,i	Residential Reinsurance 2021 Ltd	U.S. Treasury Bill 3 M + 2.500%		3.008		06/06/25		492,500
			Series - 2020 A (Class )
	500,000	g,i	Residential Reinsurance 2021 Ltd	U.S. Treasury Bill 3 M + 3.750%		4.258		06/06/25		494,000
			Series - 2020 A (Class )
	2,400,000	g,i	Sanders RE II Ltd	U.S. Treasury Bill 3 M + 3.500%		4.018		04/07/25		2,379,600
			Series - 2020 A (Class )
	1,000,000	g,i	Sanders Re Ltd	U.S. Treasury Bill 3 M + 5.500%		6.005		04/07/22		920,000
			Series - 2020 A (Class )
	7,820,000	g	SERVPRO Master Issuer LLC			3.882		10/25/49		7,834,060
			Series - 2019 1A (Class A2)
	4,642,845	†,g	Settlement Fee Finance LLC			3.840		11/01/49		4,506,809
			Series - 2019 1A (Class A)
	1,500,000	g,i	Sierra Ltd	U.S. Treasury Bill 3 M + 3.250%		3.755		12/28/22		1,491,000
			Series - 2020 A (Class )
	684,850	g	Sierra Timeshare Receivables Funding LLC			3.650		06/20/35		683,037
			Series - 2018 2A (Class B)
	341,719	g	Sierra Timeshare Receivables Funding LLC			4.540		05/20/36		336,270
			Series - 2019 2A (Class D)
	2,823,166	g	Sierra Timeshare Receivables Funding LLC			1.790		11/20/37		2,713,353
			Series - 2021 1A (Class C)
	316,751	†,g	SolarCity LMC			4.800		11/20/38		303,574
			Series - 2013 1 (Class A)
	7,612,529	g	Sonic Capital LLC			3.845		01/20/50		7,418,577
			Series - 2020 1A (Class A2I)
	2,400,000	g	Stack Infrastructure Issuer LLC			1.893		08/25/45		2,249,839
			Series - 2020 1A (Class A2)
	5,875,000	g	Stack Infrastructure Issuer LLC			1.877		03/26/46		5,392,469
			Series - 2021 1A (Class A2)
	3,691,502	g	START Ireland			5.095		03/15/44		3,039,516
			Series - 2019 1 (Class B)
	1,471,640	g	Start Ltd/Bermuda			5.315		05/15/43		1,144,455
			Series - 2018 1 (Class B)
	5,224	i	Structured Asset Investment Loan Trust	LIBOR 1 M + 0.900%		1.357		09/25/34		5,157
			Series - 2004 8 (Class M1)

281

TIAA-CREF FUNDS - Core Plus Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	14,501	i	Structured Asset Investment Loan Trust	LIBOR 1 M + 1.000%		1.457	%	09/25/34	$	14,466
			Series - 2004 8 (Class A9)
	542,836	i	Structured Asset Securities Corp Mortgage Loan Trust	LIBOR 1 M + 1.500%		1.731		04/25/35		543,857
			Series - 2005 7XS (Class 2A1A)
	5,917,000	g,i	Sutter Re Ltd	U.S. Treasury Bill 3 M + 5.040%		5.000		06/06/22		5,922,325
			Series - 2020 A (Class )
	7,691,438	g	Taco Bell Funding LLC			4.970		05/25/46		7,820,869
			Series - 2016 1A (Class A23)
	3,870,000	g	Taco Bell Funding LLC			4.940		11/25/48		3,902,206
			Series - 2018 1A (Class A2II)
	8,398,950	g	Taco Bell Funding LLC			1.946		08/25/51		7,595,968
			Series - 2021 1A (Class A2I)
	4,907,700	g	Taco Bell Funding LLC			2.294		08/25/51		4,375,902
			Series - 2021 1A (Class A2II)
	2,500,000	g,i	TCW CLO Ltd	LIBOR 3 M + 6.860%		6.985		07/25/34		2,406,783
			Series - 2021 2A (Class E)
	5,326,100	g	TES LLC			4.330		10/20/47		5,248,404
			Series - 2017 1A (Class A)
	2,500,000	g	TES LLC			7.740		10/20/47		2,478,522
			Series - 2017 1A (Class B)
	400,000	g	Tricon American Homes Trust			3.275		01/17/36		396,123
			Series - 2017 SFR2 (Class B)
	475,000	g	Tricon American Homes Trust			2.049		07/17/38		438,598
			Series - 2020 SFR1 (Class B)
	6,803,676		United Airlines Pass Through Trust			5.875		10/15/27		7,042,391
			Series - 2020 A (Class )
	4,169,481		United Airlines Pass Through Trust			3.700		03/01/30		3,884,034
			Series - 2018 1 (Class A)
	4,443,997		United Airlines Pass Through Trust			2.700		05/01/32		4,068,152
			Series - 2019 2 (Class AA)
	450,000	g,i	Ursa Re II Ltd	U.S. Treasury Bill 3 M + 3.750%		4.268		12/07/23		448,425
			Series - 2020 A (Class )
	6,659,860	g	Vine			2.790		11/15/50		6,257,751
			Series - 2020 1A (Class A)
	1,966,659	g	Vine			6.420		11/15/50		1,894,976
			Series - 2020 1A (Class C)
	3,200,000	g,i	Vitality Re X Ltd	U.S. Treasury Bill 3 M + 1.750%		2.258		01/10/23		3,171,520
			Series - 2020 A (Class )
	2,000,000	g,i	Vitality Re XII Ltd	U.S. Treasury Bill 3 M + 2.250%		2.758		01/07/25		1,994,400
			Series - 2020 A (Class )
	3,667,112	g	Vivint Colar Financing V LLC			7.370		04/30/48		3,679,575
			Series - 2018 1A (Class B)
	6,702,500	g	Wendys Funding LLC			3.884		03/15/48		6,628,920
			Series - 2018 1A (Class A2II)
	5,766,425	g	Wendy’s Funding LLC			2.370		06/15/51		5,128,728
			Series - 2021 1A (Class A2I)
	4,596,900	g	Wingstop Funding LLC			2.841		12/05/50		4,263,514
			Series - 2020 1A (Class A2)
	3,637,720	g	ZAXBY’S FUNDING LLC			3.238		07/30/51		3,354,895
			Series - 2021 1A (Class A2)
			TOTAL ASSET BACKED							457,444,230

282

TIAA-CREF FUNDS - Core Plus Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
OTHER MORTGAGE BACKED - 9.4%
$	187,997	g,i	Agate Bay Mortgage Trust			3.500	%	09/25/45	$	186,652
			Series - 2015 6 (Class A9)
	29,430		Alternative Loan Trust			5.250		11/25/33		29,003
			Series - 2003 J3 (Class 1A3)
	1,500,000	i	BANK			3.925		11/15/50		1,485,556
			Series - 2017 BNK8 (Class B)
	3,750,000	g	BANK			2.500		10/17/52		2,991,877
			Series - 2019 BN21 (Class D)
	1,000,000		BANK			3.455		12/15/52		970,133
			Series - 2019 BN23 (Class B)
	1,758,330	g,i	Bayview MSR Opportunity Master Fund Trust			3.000		10/25/51		1,657,864
			Series - 2021 6 (Class A19)
	4,500,000	g,i	BBCMS Mortgage Trust			4.267		08/05/38		3,596,755
			Series - 2018 CHRS (Class E)
	470,886	i	Bear Stearns Commercial Mortgage Securities Trust			5.214		02/11/41		467,236
			Series - 2005 PWR7 (Class B)
	1,769,000	g,i	Benchmark Mortgage Trust			2.791		09/15/48		1,673,285
			Series - 2020 IG2 (Class AM)
	2,800,000	g,i	Benchmark Mortgage Trust			3.131		09/15/48		2,682,340
			Series - 2020 IG3 (Class AS)
	5,000,000	g,i	Benchmark Mortgage Trust			3.536		09/15/48		4,793,874
			Series - 2020 IG3 (Class BXA)
	1,100,000		Benchmark Mortgage Trust			4.267		03/15/52		1,141,743
			Series - 2019 B9 (Class AS)
	3,600,000	i	Benchmark Mortgage Trust			4.510		05/15/53		3,827,792
			Series - 2018 B7 (Class A4)
	9,000,000	g	Benchmark Mortgage Trust			4.139		07/15/53		8,037,794
			Series - 2020 B18 (Class AGNF)
	6,500,000	i	Benchmark Mortgage Trust			2.563		02/15/54		5,627,334
			Series - 2021 B23 (Class C)
	11,829,488	g,i	BX Commercial Mortgage Trust	LIBOR 1 M + 0.920%		1.317		10/15/36		11,777,974
			Series - 2019 XL (Class A)
	7,000,000	g,i	BXP Trust			2.775		01/15/44		5,619,240
			Series - 2021 601L (Class D)
	1,800,000	i	CD Mortgage Trust			3.879		11/10/49		1,744,013
			Series - 2016 CD2 (Class B)
	1,000,000	i	CD Mortgage Trust			3.983		11/10/49		920,976
			Series - 2016 CD2 (Class C)
	1,400,000	i	CD Mortgage Trust			4.555		02/10/50		1,324,870
			Series - 2017 CD3 (Class C)
	222,306	g,i	CF Mortgage Trust			2.840		04/15/25		219,339
			Series - 2020 P1 (Class A1)
	10,000,000	g,i	CF Mortgage Trust			3.603		04/15/52		9,842,698
			Series - 2020 P1 (Class A2)
	4,250,000	g,i	CF Mortgage Trust			10.010		04/15/52		4,312,907
			Series - 2020 P1 (Class B)
	5,000,000	i	CFCRE Commercial Mortgage Trust			3.502		11/10/49		4,928,673
			Series - 2016 C6 (Class AM)
	141,139		Citicorp Mortgage Securities, Inc			5.500		07/25/35		140,417
			Series - 2005 4 (Class 1A7)

283

TIAA-CREF FUNDS - Core Plus Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	3,400,000	g,i	Citigroup Commercial Mortgage Trust	LIBOR 1 M + 1.900%		2.297	%	10/15/36	$	3,329,797
			Series - 2021 PRM2 (Class D)
	2,000,000	i	Citigroup Commercial Mortgage Trust			4.134		04/10/46		2,001,278
			Series - 2013 GC11 (Class C)
	1,129,262	g,i	Citigroup Commercial Mortgage Trust			4.483		07/10/47		1,079,668
			Series - 2014 GC23 (Class D)
	2,600,000	i	Citigroup Commercial Mortgage Trust			3.758		04/10/48		2,573,249
			Series - 2015 GC29 (Class B)
	1,650,000	i	Citigroup Commercial Mortgage Trust			4.142		04/10/48		1,619,285
			Series - 2015 GC29 (Class C)
	1,425,000		Citigroup Commercial Mortgage Trust			4.233		04/10/49		1,396,012
			Series - 2016 GC37 (Class B)
	1,020,000		Citigroup Commercial Mortgage Trust			3.018		08/10/56		977,962
			Series - 2019 GC41 (Class AS)
	226,605	i	Citigroup Mortgage Loan Trust	LIBOR 1 M + 0.750%		1.207		01/25/36		226,271
			Series - 2006 WFH1 (Class M4)
	1,900,000		COMM Mortgage Trust			3.101		03/10/46		1,902,853
			Series - 2013 CR6 (Class A4)
	3,000,000	g,i	COMM Mortgage Trust			5.262		08/10/46		2,815,087
			Series - 2013 LC13 (Class D)
	5,000,000		COMM Mortgage Trust			4.199		03/10/47		5,042,334
			Series - 2014 UBS2 (Class AM)
	1,120,000		COMM Mortgage Trust			4.174		05/10/47		1,128,733
			Series - 2014 CR17 (Class AM)
	5,150,000	g,i	COMM Mortgage Trust			4.768		06/10/47		4,777,376
			Series - 2014 UBS3 (Class D)
	2,452,500	i	COMM Mortgage Trust			4.456		07/15/47		2,461,612
			Series - 2014 CR18 (Class B)
	1,500,000	g,i	COMM Mortgage Trust			4.705		08/10/47		1,409,137
			Series - 2014 CR19 (Class D)
	3,000,000	i	COMM Mortgage Trust			4.188		10/10/47		3,033,387
			Series - 2014 LC17 (Class AM)
	2,500,000	g	COMM Mortgage Trust			3.000		03/10/48		2,117,217
			Series - 2015 CR22 (Class E)
	2,600,000	g,i	COMM Mortgage Trust			4.106		03/10/48		2,444,616
			Series - 2015 CR22 (Class D)
	3,340,500	i	COMM Mortgage Trust			4.106		03/10/48		3,288,136
			Series - 2015 CR22 (Class C)
	1,000,000		COMM Mortgage Trust			3.801		05/10/48		1,001,568
			Series - 2015 CR23 (Class AM)
	2,500,000	i	COMM Mortgage Trust			4.288		05/10/48		2,326,529
			Series - 2015 CR23 (Class D)
	2,500,000	i	COMM Mortgage Trust			3.463		08/10/48		2,249,965
			Series - 2015 CR24 (Class D)
	2,500,000	i	COMM Mortgage Trust			4.379		08/10/48		2,510,191
			Series - 2015 CR24 (Class B)
	3,000,000	i	COMM Mortgage Trust			4.379		08/10/48		2,922,367
			Series - 2015 CR24 (Class C)
	3,175,000	i	COMM Mortgage Trust			4.478		10/10/48		3,132,775
			Series - 2015 CR26 (Class C)
	597,010	i	Connecticut Avenue Securities	LIBOR 1 M + 2.600%		3.057		05/25/24		597,755
			Series - 2014 C02 (Class 1M2)

284

TIAA-CREF FUNDS - Core Plus Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	6,397,219	i	Connecticut Avenue Securities	LIBOR 1 M + 3.000%		3.457	%	07/25/24	$	6,429,256
			Series - 2014 C03 (Class 1M2)
	2,800,000	g,i	Connecticut Avenue Securities			3.399		11/25/41		2,596,849
			Series - 2021 R02 (Class 2B1)
	1,155,000	g,i	Connecticut Avenue Securities Trust			1.649		10/25/41		1,115,819
			Series - 2021 R01 (Class 1M2)
	123,824	g,i	Connecticut Avenue Securities Trust			1.749		12/25/41		117,207
			Series - 2021 R03 (Class 1M2)
	1,850,000	g,i	Connecticut Avenue Securities Trust			2.849		12/25/41		1,674,830
			Series - 2021 R03 (Class 1B1)
	330,183	i	Countrywide Alternative Loan Trust	LIBOR 1 M + 0.460%		0.907		07/20/35		329,078
			Series - 2005 24 (Class 4A1)
	25,815		Countrywide Alternative Loan Trust			5.000		12/25/56		25,406
			Series - 2005 6CB (Class 2A1)
	341,862	i	Countrywide Home Loan Mortgage Pass Through Trust			2.529		11/20/34		346,965
			Series - 2004 HYB6 (Class A2)
	24,300		Countrywide Home Loan Mortgage Pass Through Trust			5.250		09/25/35		22,865
			Series - 2005 17 (Class 1A10)
	5,000,000	g,i	CPT Mortgage Trust			2.997		11/13/39		4,265,721
			Series - 2019 CPT (Class E)
	3,464,150	g,i	Credit Suisse Commercial Mortgage Trust			3.500		02/25/48		3,403,778
			Series - 2018 J1 (Class A11)
	1,034,062	i	Credit Suisse First Boston Mortgage Securities Corp			6.197		04/25/33		1,005,064
			Series - 2003 8 (Class DB1)
	2,329,598	g,i	Credit Suisse Mortgage Capital Certificates			2.405		10/25/66		2,219,637
			Series - 2021 NQM8 (Class A3)
	3,340,000		CSAIL Commercial Mortgage Trust			3.505		04/15/50		3,346,996
			Series - 2015 C1 (Class A4)
	1,799,583	g,i	CSMC			2.130		05/25/65		1,713,307
			Series - 2021 NQM1 (Class M1)
	1,850,000	g,i	CSMC Series			3.388		10/25/59		1,781,222
			Series - 2019 NQM1 (Class M1)
	5,065,000		DBJPM			3.539		05/10/49		5,018,299
			Series - 2016 C1 (Class AM)
	3,400,000	g,i	ELP Commercial Mortgage Trust	LIBOR 1 M + 2.118%		2.515		11/15/38		3,291,153
			Series - 2021 ELP (Class E)
	4,000,000	g,i	EQUS Mortgage Trust	LIBOR 1 M + 2.300%		2.697		10/15/38		3,884,478
			Series - 2021 EQAZ (Class E)
	516,757	i	Fieldstone Mortgage Investment Trust	LIBOR 1 M + 0.735%		1.192		12/25/35		512,390
			Series - 2005 2 (Class M2)
	903,565	g,i	Flagstar Mortgage Trust			4.048		10/25/47		900,981
			Series - 2017 2 (Class B3)
	70,990	g,i	Flagstar Mortgage Trust			4.000		09/25/48		71,188
			Series - 2018 5 (Class A11)
	1,419,501	g,i	Flagstar Mortgage Trust			2.500		04/25/51		1,295,345
			Series - 2021 2 (Class A4)
	1,872,490	g,i	Flagstar Mortgage Trust			2.500		06/01/51		1,708,320
			Series - 2021 4 (Class A21)
	9,477,193	g,i	Flagstar Mortgage Trust			3.000		10/25/51		8,899,682
			Series - 2021 10INV (Class A17)
	1,970,000	g,i	Freddie Mac STACR REMIC Trust			2.149		12/25/33		1,854,156
			Series - 2021 HQA2 (Class M2)

285

TIAA-CREF FUNDS - Core Plus Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	2,436,693	g,i	Freddie Mac STACR REMIC Trust		1.749	%	01/25/34	$	2,397,143
			Series - 2021 DNA5 (Class M2)
	2,690,000	g,i	Freddie Mac STACR REMIC Trust		2.599		01/25/42		2,514,664
			Series - 2022 DNA1 (Class M2)
	3,846,000	g,i	GS Mortgage Securities Trust		4.285		02/10/46		3,854,255
			Series - 2013 GC10 (Class C)
	3,725,000	i	GS Mortgage Securities Trust		3.958		11/10/49		3,450,305
			Series - 2016 GS4 (Class C)
	3,800,000	i	GS Mortgage Securities Trust		4.158		02/10/52		3,900,809
			Series - 2019 GC38 (Class AS)
	1,500,000	i	GS Mortgage Securities Trust		4.761		02/10/52		1,494,325
			Series - 2019 GC38 (Class C)
	1,500,000	g,i	GS Mortgage Securities Trust		3.501		07/10/52		1,466,229
			Series - 2019 GC40 (Class DBB)
	4,500,000	g,i	GS Mortgage Securities Trust		3.550		07/10/52		4,362,976
			Series - 2019 GC40 (Class DBC)
	1,000,000	i	GS Mortgage Securities Trust		3.405		02/13/53		954,729
			Series - 2020 GC45 (Class B)
	3,000,000		GS Mortgage Securities Trust		2.012		12/12/53		2,674,274
			Series - 2020 GSA2 (Class A5)
	32,022	g,i	GS Mortgage-Backed Securities Corp Trust		4.000		08/25/49		31,999
			Series - 2019 PJ1 (Class A4)
	83,285	g,i	GS Mortgage-Backed Securities Corp Trust		4.000		11/25/49		83,399
			Series - 2019 PJ2 (Class A1)
	217,534	g,i	GS Mortgage-Backed Securities Corp Trust		4.000		11/25/49		217,834
			Series - 2019 PJ2 (Class A4)
	404,800	g,i	GS Mortgage-Backed Securities Corp Trust		3.500		07/25/50		402,745
			Series - 2020 PJ2 (Class A4)
	294,900	g,i	GS Mortgage-Backed Securities Corp Trust		3.000		01/25/51		287,245
			Series - 2020 PJ4 (Class A4)
	231,088	i	GS Mortgage-Backed Securities Corp Trust		3.000		03/27/51		222,900
			Series - 2020 PJ5 (Class A4)
	1,056,241	g,i	GS Mortgage-Backed Securities Corp Trust		2.500		05/25/51		971,835
			Series - 2020 PJ6 (Class A4)
	2,958,630	g,i	GS Mortgage-Backed Securities Corp Trust		2.500		10/25/51		2,701,569
			Series - 2021 PJ5 (Class A4)
	4,243,222	g,i	GS Mortgage-Backed Securities Corp Trust		3.000		06/25/52		3,997,913
			Series - 2022 PJ2 (Class A36)
	283,734	g,i	GS Mortgage-Backed Securities Trust		3.669		05/25/50		274,151
			Series - 2020 PJ1 (Class B2)
	1,325,073	g,i	GS Mortgage-Backed Securities Trust		2.500		07/25/51		1,210,182
			Series - 2021 PJ2 (Class A4)
	4,627,403	g,i	GS Mortgage-Backed Securities Trust		2.500		01/25/52		4,226,184
			Series - 2021 PJ8 (Class A4)
	9,280,045	g,i	GS Mortgage-Backed Securities Trust		2.500		01/25/52		8,467,902
			Series - 2021 PJ7 (Class A4)
	7,881,710	g,i	GS MortSecurities Trust		2.500		11/25/51		7,189,341
			Series - 2021 PJ6 (Class A4)
	239,158	g	GSMPS Mortgage Loan Trust		7.500		03/25/35		239,645
			Series - 2005 RP2 (Class 1A2)
	232,933	g	GSMPS Mortgage Loan Trust		7.500		09/25/35		233,610
			Series - 2005 RP3 (Class 1A2)

286

TIAA-CREF FUNDS - Core Plus Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	296,672		GSR Mortgage Loan Trust			6.000	%	01/25/35	$	289,117
			Series - 2005 1F (Class 3A3)
	1,261,108	i	HarborView Mortgage Loan Trust	LIBOR 1 M + 0.620%		1.069		08/19/45		1,241,390
			Series - 2005 11 (Class 2A1A)
	3,000,000	g,i	Hudson Yards Mortgage Trust			3.443		07/10/39		2,787,092
			Series - 2019 30HY (Class D)
	2,000,000	g,i	Hudson Yards Mortgage Trust			2.943		12/10/41		1,788,045
			Series - 2019 55HY (Class D)
	1,750,000	g,i	Hudson Yards Mortgage Trust			2.943		12/10/41		1,464,017
			Series - 2019 55HY (Class F)
	73,286	i	Impac CMB Trust	LIBOR 1 M + 0.660%		1.117		03/25/35		73,945
			Series - 2004 11 (Class 2A1)
	1,055,268	g,i	Imperial Fund Mortgage Trust			2.051		10/25/55		1,019,398
			Series - 2020 NQM1 (Class A3)
	440,000	g,i	Imperial Fund Mortgage Trust			3.531		10/25/55		422,236
			Series - 2020 NQM1 (Class M1)
	4,810,000	g,i	Imperial Fund Mortgage Trust			2.383		06/25/56		4,421,887
			Series - 2021 NQM1 (Class M1)
	37,457	i	JP Morgan Alternative Loan Trust	LIBOR 1 M + 0.560%		1.017		04/25/47		37,537
			Series - 2007 S1 (Class A1)
	1,700,000	g,i	JP Morgan Chase Commercial Mortgage Securities Corp			4.077		01/15/46		1,670,438
			Series - 2013 C13 (Class D)
	126,545	g,i	JP Morgan Chase Commercial Mortgage Securities Corp			5.398		07/15/46		128,263
			Series - 2011 C4 (Class C)
	1,719,000	i	JP Morgan Chase Commercial Mortgage Securities Corp			4.119		01/15/49		1,735,245
			Series - 2015 JP1 (Class AS)
	2,140,000		JP Morgan Chase Commercial Mortgage Securities Corp			2.822		08/15/49		2,091,237
			Series - 2016 JP2 (Class A4)
	2,365,000		JP Morgan Chase Commercial Mortgage Securities Corp			3.723		03/15/50		2,402,395
			Series - 2017 JP5 (Class A5)
	5,000,000		JP Morgan Chase Commercial Mortgage Securities Corp			3.379		09/15/50		4,955,026
			Series - 2017 JP7 (Class A3)
	277,626	i	JP Morgan Mortgage Trust			2.270		11/25/33		279,011
			Series - 2006 A2 (Class 5A3)
	2,076,552	g,i	JP Morgan Mortgage Trust	LIBOR 1 M - 0.000%		2.102		12/25/44		2,106,322
			Series - 2015 1 (Class B1)
	83,729	g,i	JP Morgan Mortgage Trust			3.500		05/25/45		82,184
			Series - 2015 3 (Class A19)
	397,220	g,i	JP Morgan Mortgage Trust			3.500		10/25/45		382,497
			Series - 2015 6 (Class A13)
	216,319	g,i	JP Morgan Mortgage Trust			3.500		05/25/46		213,535
			Series - 2016 1 (Class A13)
	232,825	g,i	JP Morgan Mortgage Trust			3.500		05/25/47		227,952
			Series - 2017 2 (Class A13)
	557,188	g,i	JP Morgan Mortgage Trust			3.500		09/25/48		536,760
			Series - 2018 3 (Class A13)
	1,003,995	g,i	JP Morgan Mortgage Trust			3.500		10/25/48		972,814
			Series - 2018 5 (Class A13)
	221,310	g,i	JP Morgan Mortgage Trust			3.500		10/25/48		218,248
			Series - 2018 4 (Class A13)

287

TIAA-CREF FUNDS - Core Plus Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	762,234	g,i	JP Morgan Mortgage Trust			3.050	%	10/26/48	$	764,963
			Series - 2017 5 (Class A2)
	905,247	g,i	JP Morgan Mortgage Trust			3.910		12/25/48		880,881
			Series - 2018 6 (Class B4)
	163,653	g,i	JP Morgan Mortgage Trust			4.000		01/25/49		163,886
			Series - 2018 8 (Class A13)
	166,212	g,i	JP Morgan Mortgage Trust			4.000		02/25/49		166,452
			Series - 2018 9 (Class A13)
	357,512	g,i	JP Morgan Mortgage Trust			4.000		05/25/49		358,290
			Series - 2019 1 (Class A15)
	69,560	g,i	JP Morgan Mortgage Trust			4.000		05/25/49		69,711
			Series - 2019 1 (Class A3)
	826,097	g,i	JP Morgan Mortgage Trust			4.629		09/25/49		804,228
			Series - 2019 3 (Class B1)
	570,669	g,i	JP Morgan Mortgage Trust	LIBOR 1 M + 0.950%		1.407		10/25/49		571,848
			Series - 2019 INV1 (Class A11)
	2,460,326	g,i	JP Morgan Mortgage Trust			3.864		06/25/50		2,394,881
			Series - 2020 1 (Class B2)
	4,499,271	g,i	JP Morgan Mortgage Trust			2.500		10/25/51		4,108,937
			Series - 2021 6 (Class A15)
	2,516,668	g,i	JP Morgan Mortgage Trust			2.500		11/25/51		2,298,410
			Series - 2021 7 (Class A15)
	2,918,352	g,i	JP Morgan Mortgage Trust			2.500		12/25/51		2,665,579
			Series - 2021 8 (Class A15)
	1,120,049	g,i	JP Morgan Mortgage Trust			2.500		12/25/51		1,022,835
			Series - 2021 10 (Class A15)
	4,331,075	g,i	JP Morgan Mortgage Trust			2.500		01/25/52		3,953,860
			Series - 2021 11 (Class A15)
	1,240,591	g,i	JP Morgan Mortgage Trust			2.500		02/25/52		1,132,752
			Series - 2021 12 (Class A15)
	2,228,580	g,i	JP Morgan Mortgage Trust			3.357		04/25/52		2,035,084
			Series - 2021 INV6 (Class B1)
	1,426,291	g,i	JP Morgan Mortgage Trust			3.357		04/25/52		1,274,162
			Series - 2021 INV6 (Class B2)
	1,881,570	g,i	JP Morgan Mortgage Trust			2.500		05/25/52		1,717,431
			Series - 2021 14 (Class A15)
	6,297,491	g,i	JP Morgan Mortgage Trust			2.500		06/25/52		5,748,759
			Series - 2021 15 (Class A15)
	1,773,979	g,i	JP Morgan Mortgage Trust			3.000		08/25/52		1,672,530
			Series - 2022 2 (Class A25)
	501,387		JPMBB Commercial Mortgage Securities Trust			3.657		09/15/47		506,529
			Series - 2014 C23 (Class ASB)
	5,000,000		JPMBB Commercial Mortgage Securities Trust			3.634		02/15/48		4,991,221
			Series - 2015 C27 (Class AS)
	4,800,000	i	JPMBB Commercial Mortgage Securities Trust			4.622		08/15/48		4,850,265
			Series - 2015 C31 (Class B)
	2,500,000	g,i	JPMBB Commercial Mortgage Securities Trust			4.233		03/17/49		2,356,056
			Series - 2016 C1 (Class D1)
	5,000,000		JPMDB Commercial Mortgage Securities Trust			2.536		05/13/53		4,561,280
			Series - 2020 COR7 (Class AS)
	10,000,000	g	Liberty Street Trust			3.597		02/10/36		9,928,457
			Series - 2016 225L (Class A)

288

TIAA-CREF FUNDS - Core Plus Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	342,792		Master Alternative Loan Trust			7.000	%	01/25/34	$	347,517
			Series - 2004 1 (Class 3A1)
	920,314	g	Morgan Stanley Bank of America Merrill Lynch Trust			4.384		12/15/46		913,892
			Series - 2014 C19 (Class LNC2)
	850,782		Morgan Stanley Bank of America Merrill Lynch Trust			3.338		03/15/48		847,770
			Series - 2015 C21 (Class A4)
	2,000,000	i	Morgan Stanley Capital I Trust			3.779		05/15/48		2,016,049
			Series - 2015 MS1 (Class A4)
	132,584	†,i	Morgan Stanley Capital I Trust			5.674		12/12/49		70,665
			Series - 2007 IQ16 (Class AJFX)
	300,000		Morgan Stanley Capital I Trust			3.587		12/15/50		300,509
			Series - 2017 HR2 (Class A4)
	2,150,000	i	Morgan Stanley Capital I Trust			4.429		07/15/51		2,229,948
			Series - 2018 H3 (Class AS)
	1,127,356	g,i	Morgan Stanley Residential Mortgage Loan Trust			2.500		07/25/51		1,075,635
			Series - 2021 4 (Class A4)
	3,778,022	g,i	Morgan Stanley Residential Mortgage Loan Trust			2.500		08/25/51		3,451,280
			Series - 2021 5 (Class A9)
	3,491,213	g,i	Morgan Stanley Residential Mortgage Loan Trust			2.500		09/25/51		3,333,140
			Series - 2021 6 (Class A4)
	3,034,273	g,i	Morgan Stanley Residential Mortgage Loan Trust			2.500		09/25/51		2,772,096
			Series - 2021 6 (Class A9)
	1,500,000	g	MRCD Mortgage Trust			2.718		12/15/36		1,376,979
			Series - 2019 PARK (Class E)
	11,100,000	g,i	Natixis Commercial Mortgage Securities Trust	LIBOR 1 M + 1.500%		1.897		07/15/36		11,043,329
			Series - 2019 MILE (Class A)
	3,000,000	g,i	Natixis Commercial Mortgage Securities Trust	LIBOR 1 M + 3.500%		3.897		07/15/36		2,926,739
			Series - 2019 MILE (Class E)
	4,500,000	g,i	Natixis Commercial Mortgage Securities Trust	LIBOR 1 M + 4.250%		4.647		07/15/36		4,343,025
			Series - 2019 MILE (Class F)
	560,428	g,i	New Residential Mortgage Loan Trust			2.797		09/25/59		556,479
			Series - 2019 NQM4 (Class A3)
	425,000	g,i	New Residential Mortgage Loan Trust			2.986		09/25/59		404,273
			Series - 2019 NQM4 (Class M1)
	166,396	i	New York Mortgage Trust	LIBOR 1 M + 0.480%		0.937		02/25/36		166,788
			Series - 2005 3 (Class A1)
	650,000	g,i	NLT Trust			2.569		08/25/56		589,982
			Series - 2021 INV2 (Class M1)
	5,550,594	g,i	OBX Trust			2.500		07/25/51		5,062,391
			Series - 2021 J2 (Class A19)
	469,219	g,i	OBX Trust	LIBOR 1 M + 0.650%		1.107		06/25/57		463,407
			Series - 2018 1 (Class A2)
	1,709,096	g,i	Oceanview Mortgage Trust			2.500		05/25/51		1,560,482
			Series - 2021 1 (Class A19)
	5,700,000	g	One Bryant Park Trust			2.516		09/15/54		5,271,817
			Series - 2019 OBP (Class A)
	2,700,000	g,i	Onslow Bay Mortgage Loan Trust			2.451		05/25/61		2,455,194
			Series - 2021 NQM2 (Class M1)
	192,598	g,i	Sequoia Mortgage Trust			3.500		05/25/45		188,191
			Series - 2015 2 (Class A1)
	238,085	g,i	Sequoia Mortgage Trust			3.500		06/25/46		234,205
			Series - 2016 1 (Class A19)

289

TIAA-CREF FUNDS - Core Plus Bond Fund

				REFERENCE				MATURITY
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	VALUE
$	739,034	g,i	Sequoia Mortgage Trust			3.500	%	02/25/47	$	720,517
			Series - 2017 2 (Class A19)
	627,662	g,i	Sequoia Mortgage Trust			3.500		04/25/47		611,354
			Series - 2017 3 (Class A19)
	1,221,555	g,i	Sequoia Mortgage Trust			3.740		09/25/47		1,180,933
			Series - 2017 6 (Class B1)
	255,302	g,i	Sequoia Mortgage Trust			3.500		02/25/48		251,467
			Series - 2018 2 (Class A1)
	830,081	g,i	Sequoia Mortgage Trust			3.500		02/25/48		817,278
			Series - 2018 2 (Class A19)
	279,657	g,i	Sequoia Mortgage Trust			3.500		03/25/48		276,584
			Series - 2018 3 (Class A1)
	30,625	g,i	Sequoia Mortgage Trust			4.000		09/25/48		30,669
			Series - 2018 7 (Class A19)
	453,399	g,i	Sequoia Mortgage Trust			4.000		06/25/49		453,834
			Series - 2019 2 (Class A1)
	130,212	g,i	Sequoia Mortgage Trust			4.000		06/25/49		130,337
			Series - 2019 2 (Class A19)
	661,737	g,i	Sequoia Mortgage Trust			3.500		11/25/49		635,999
			Series - 2019 4 (Class A1)
	1,398,348	g,i	Sequoia Mortgage Trust			3.500		12/25/49		1,381,134
			Series - 2019 5 (Class A1)
	786,574	g,i	Sequoia Mortgage Trust			3.500		12/25/49		776,659
			Series - 2019 5 (Class A19)
	2,102,108	g,i	Sequoia Mortgage Trust			3.000		04/25/50		2,026,254
			Series - 2020 3 (Class A19)
	2,564,913	g,i	Sequoia Mortgage Trust			2.500		06/25/51		2,335,073
			Series - 2021 4 (Class A19)
	413,628	g,i	Shellpoint Co-Originator Trust			3.500		10/25/47		405,832
			Series - 2017 2 (Class A1)
	15,415,000	g	SLG Office Trust			2.851		07/15/41		13,185,206
			Series - 2021 OVA (Class E)
	4,340,657	g,i	SMR Mortgage Trust			2.701		02/15/39		4,288,709
			Series - 2022 IND (Class B)
	3,500,000	g,i	Spruce Hill Mortgage Loan Trust			3.827		01/28/50		3,404,620
			Series - 2020 SH1 (Class B1)
	6,585,000	g,i	Structured Agency Credit Risk Debt Note (STACR)			2.199		10/25/33		6,433,812
			Series - 2021 DNA3 (Class M2)
	12,859	g,i	STACR			3.724		02/25/48		12,817
			Series - 2018 SPI1 (Class M2)
	226,398	g,i	STACR			3.809		05/25/48		225,711
			Series - 2018 SPI2 (Class M2)
	219,003	g,i	STACR			3.809		05/25/48		218,390
			Series - 2018 SPI2 (Class M2B)
	1,425,000	g,i	STACR	LIBOR 1 M + 2.700%		3.157		10/25/49		1,378,737
			Series - 2019 DNA4 (Class B1)
	4,456,000	g,i	STACR	LIBOR 1 M + 2.500%		2.957		02/25/50		4,197,921
			Series - 2020 DNA2 (Class B1)
	3,000,000		UBS-Barclays Commercial Mortgage Trust			2.850		12/10/45		3,006,848
			Series - 2012 C4 (Class A5)
	1,000,000	g,i	UBS-Barclays Commercial Mortgage Trust			3.649		03/10/46		986,694
			Series - 2013 C5 (Class B)

290

TIAA-CREF FUNDS - Core Plus Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	550,000	g,i	Verus Securitization Trust		3.139	%	07/25/59	$	549,556
			Series - 2019 3 (Class M1)
	930,000	g,i	Verus Securitization Trust		3.207		11/25/59		925,289
			Series - 2019 4 (Class M1)
	683,833	g	Verus Securitization Trust		1.733		05/25/65		666,719
			Series - 2020 5 (Class A3)
	396,185	g	Verus Securitization Trust		2.321		05/25/65		388,858
			Series - 2020 4 (Class A3)
	3,285,394	g,i	Verus Securitization Trust		2.240		10/25/66		3,098,529
			Series - 2021 7 (Class A3)
	13,031,000	g,i	Verus Securitization Trust		3.288		11/25/66		12,041,048
			Series - 2021 8 (Class M1)
	1,700,000	g,i	VNDO Trust		3.903		01/10/35		1,515,801
			Series - 2016 350P (Class E)
	937,527	g	VSE VOI Mortgage LLC		4.020		02/20/36		937,144
			Series - 2018 A (Class C)
	10,129	i	Washington Mutual Mortgage Pass-Through Certificates Trust		5.849		08/25/38		10,125
			Series - 2004 RA3 (Class 2A)
	2,000,000	i	Wells Fargo Commercial Mortgage Trust		4.152		05/15/48		1,899,982
			Series - 2015 NXS1 (Class D)
	1,200,000	g	Wells Fargo Commercial Mortgage Trust		3.153		09/15/57		1,093,980
			Series - 2015 NXS3 (Class D)
	116,204	g,i	Wells Fargo Mortgage Backed Securities Trust		4.000		04/25/49		116,151
			Series - 2019 2 (Class A17)
	193,479	g,i	Wells Fargo Mortgage Backed Securities Trust		3.000		07/25/50		185,910
			Series - 2020 4 (Class A17)
	6,479,695	g,i	Wells Fargo Mortgage Backed Securities Trust		2.500		06/25/51		5,913,014
			Series - 2021 2 (Class A17)
	1,417,154	g,i	Wells Fargo Mortgage Backed Securities Trust		3.000		08/25/51		1,341,248
			Series - 2021 INV1 (Class A17)
	7,818,167	g,i	Wells Fargo Mortgage Backed Securities Trust		3.327		08/25/51		7,093,856
			Series - 2021 INV1 (Class B2)
	5,277,000		WFRBS Commercial Mortgage Trust		3.607		11/15/47		5,288,817
			Series - 2014 C24 (Class A5)
	2,000,000		WF-RBS Commercial Mortgage Trust		3.337		06/15/46		2,006,625
			Series - 2013 C14 (Class A5)
	112,713	g,i	WinWater Mortgage Loan Trust		3.910		06/20/44		112,725
			Series - 2014 1 (Class B4)
			TOTAL OTHER MORTGAGE BACKED						495,130,086
			TOTAL STRUCTURED ASSETS						952,574,316
			(Cost $1,006,902,565)
			TOTAL BONDS						4,884,845,853
			(Cost $5,104,011,320)

291

TIAA-CREF FUNDS - Core Plus Bond Fund

SHARES			COMPANY	RATE			MATURITY DATE	VALUE
COMMON STOCKS - 0.0%
ENERGY - 0.0%
	1,538	*,†	Cloud Peak Energy, Inc					$	16
			TOTAL ENERGY						16
MATERIALS - 0.0%
	554,604	*	Petra Diamonds Ltd						845,124
			TOTAL MATERIALS						845,124
REAL ESTATE - 0.0%
	7,034	*	Warehouses De Pauw CVA						11,430
			TOTAL REAL ESTATE						11,430
			TOTAL COMMON STOCKS						856,570
			(Cost $1,019,745)
PREFERRED STOCKS - 0.2%
BANKS - 0.1%
	200,000	i	Wintrust Financial Corp						5,636,000
			TOTAL BANKS						5,636,000
DIVERSIFIED FINANCIALS - 0.1%
	34,686		Morgan Stanley						921,954
	108,701		Morgan Stanley						2,903,403
			TOTAL DIVERSIFIED FINANCIALS						3,825,357
			TOTAL PREFERRED STOCKS						9,461,357
			(Cost $8,826,338)
PRINCIPAL			ISSUER
SHORT-TERM INVESTMENTS - 14.7%
GOVERNMENT AGENCY DEBT - 10.8%
$	5,000,000		Federal Agricultural Mortgage Corp (FAMC)		0.000	%	05/03/22		4,999,111
	8,000,000		Federal Farm Credit Bank (FFCB)		0.000		04/11/22		7,999,623
	8,690,000		FFCB		0.000		04/14/22		8,689,467
	32,495,000		FFCB		0.000		04/29/22		32,490,707
	11,000,000		FFCB		0.000		05/17/22		10,994,111
	23,608,000		FFCB		0.000		06/16/22		23,577,215
	10,689,000		FFCB		0.000		06/29/22		10,672,679
	5,000,000		FFCB		0.000		07/12/22		4,989,285
	11,000,000		FFCB		0.000		07/25/22		10,973,427
	19,230,000		FFCB		0.000		09/01/22		19,144,823

292

TIAA-CREF FUNDS - Core Plus Bond Fund

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE	VALUE
$	35,000,000		Federal Home Loan Bank (FHLB)		0.000	%	04/01/22	$	35,000,000
	30,000,000		FHLB		0.000		04/05/22		29,999,434
	38,000,000		FHLB		0.000		04/06/22		37,999,104
	10,000,000		FHLB		0.000		04/07/22		9,999,717
	37,500,000		FHLB		0.000		04/08/22		37,498,761
	44,750,000		FHLB		0.000		04/18/22		44,746,408
	5,000,000		FHLB		0.000		04/20/22		4,999,552
	10,000,000		FHLB		0.000		04/25/22		9,998,868
	7,050,000		FHLB		0.000		05/02/22		7,047,456
	15,995,000		FHLB		0.000		05/04/22		15,988,856
	40,000,000		FHLB		0.000		05/05/22		39,984,170
	23,500,000		FHLB		0.000		05/06/22		23,490,426
	10,000,000		FHLB		0.000		05/18/22		9,994,530
	25,000,000		FHLB		0.000		05/23/22		24,984,870
	6,100,000		FHLB		0.000		05/25/22		6,096,166
	25,000,000		FHLB		0.000		05/27/22		24,983,744
	17,820,000		FHLB		0.000		06/17/22		17,796,457
	20,000,000		FHLB		0.000		06/30/22		19,969,120
	10,300,000		FHLB		0.000		07/19/22		10,276,415
	20,000,000		FHLB		0.000		08/03/22		19,937,692
			TOTAL GOVERNMENT AGENCY DEBT						565,322,194
REPURCHASE AGREEMENT - 0.3%
	15,915,000	r	Fixed Income Clearing Corp (FICC)		0.250		04/01/22		15,915,000
			TOTAL REPURCHASE AGREEMENT						15,915,000
TREASURY DEBT - 1.3%
EGP	37,600,000		Egypt Treasury Bill		0.000		06/21/22		2,008,827
$	10,000,000		United States Cash Management Bill		0.000		04/19/22		9,999,306
	10,000,000		United States Treasury Bill		0.000		08/11/22		9,969,567
	1,440,000		United States Treasury Bill		0.000		08/25/22		1,434,764
	10,000,000		United States Treasury Bill		0.000		10/06/22		9,945,724
	10,000,000		United States Treasury Note		2.250		04/15/22		10,007,487
	25,000,000		United States Treasury Note		1.750		05/15/22		25,044,291
			TOTAL TREASURY DEBT						68,409,966
SHARES			COMPANY
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 2.3%
	119,034,091	c	State Street Navigator Securities Lending Government Money Market Portfolio		0.290				119,034,091
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES						119,034,091
			TOTAL SHORT-TERM INVESTMENTS						768,681,251
			(Cost $769,319,301)
			TOTAL INVESTMENTS - 110.8%						5,817,304,289
			(Cost $6,038,794,913)
			OTHER ASSETS & LIABILITIES, NET - (10.8)%						(566,191,828	)
			NET ASSETS - 100.0%					$	5,251,112,461

293

TIAA-CREF FUNDS - Core Plus Bond Fund

CNY	Chinese Yuan
DOP	Dominican Republic Peso
EGP	Egyptian Pound
EUR	Euro
GHS	Ghanaian Cedi
INR	Indian Rupee
LIBOR	London Interbank Offered Rate
M	Month
MXN	Mexican Peso
MYR	Malaysian Ringgit
REIT	Real Estate Investment Trust
RUB	Russian Ruble
SOFR	Secure Overnight Financing Rate
THB	Thai Baht
UGX	Ugandan Shilling
UYU	Uruguayan Peso
UZS	Uzbekistani Som
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.
d	All or a portion of these securities have been segregated to cover margin requirements on open futures contracts.
e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $117,248,148.
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 3/31/22, the aggregate value of these securities is $1,598,345,438 or 30.4% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.
i	Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.
k	Principal amount for interest accrual purposes is periodically adjusted based on changes in the Consumer Price Index.
o	Payment in Kind Bond
q	In default
r	Agreement with Fixed Income Clearing Corp (FICC), 0.250% dated 3/31/22 to be repurchased at $15,915,000 on 4/1/22, collateralized by Government Agency Securities, with coupon rate 2.375% and maturity date 3/31/29, valued at $16,233,347.

Principal denominated in U.S. Dollars, unless otherwise noted.

Futures contracts outstanding as of March 31, 2022 were as follows:

Description	Number of long (short) contracts	Expiration date		Notional amount			Value			Unrealized appreciation (depreciation)
US Ultra 10 Year Bond	(177)	06/21/22	$	(24,678,245	)	$	(23,977,969	)	$	700,276

294

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, 2022

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
LONG-TERM MUNICIPAL BONDS - 97.9%
ALABAMA - 2.3%
$	250,000		Black Belt Energy Gas District		4.000	%	12/01/27	$	267,402
	500,000		City of Birmingham AL		5.000		12/01/29		576,020
	500,000		City of Birmingham AL		5.000		12/01/30		578,194
	630,000		County of Mobile AL		5.000		02/01/34		729,795
	2,900,000	i	Lower Alabama Gas District		4.000		12/01/50		2,997,393
	1,000,000		University of South Alabama		5.000		11/01/31		1,103,703
			TOTAL ALABAMA						6,252,507
ALASKA - 1.2%
	500,000		Alaska Municipal Bond Bank Authority		5.000		12/01/31		547,804
	2,570,000		Borough of Matanuska-Susitna AK		5.000		09/01/25		2,796,854
			TOTAL ALASKA						3,344,658
ARIZONA - 0.9%
	2,000,000	i	Chandler Industrial Development Authority		5.000		06/01/49		2,115,265
	190,000		Pinal County Electric District No 3		5.000		07/01/33		208,876
			TOTAL ARIZONA						2,324,141
ARKANSAS - 0.4%
	1,000,000		City of Fort Smith AR Water & Sewer Revenue		5.000		10/01/32		1,158,336
			TOTAL ARKANSAS						1,158,336
CALIFORNIA - 4.5%
	1,090,000		California County Tobacco Securitization Agency		4.000		06/01/36		1,154,065
	365,000		California Educational Facilities Authority		5.000		12/01/29		415,488
	1,510,000		California Health Facilities Financing Authority		5.000		09/01/33		1,713,451
	185,000		California Municipal Finance Authority		4.000		07/15/29		188,372
	65,000	g	California School Finance Authority		5.000		08/01/25		71,177
	650,000	g	California School Finance Authority		5.000		08/01/25		703,692
	225,000	g	California Statewide Communities Development Authority		5.000		12/01/28		257,341
	2,000,000		City of Los Angeles Department of Airports		5.000		05/15/27		2,196,522
	1,000,000		City of Los Angeles Department of Airports		5.000		05/15/36		1,156,020
	195,000		Long Beach Community College District		3.000		08/01/37		192,357
	450,000		Palmdale Community Redevelopment Agency		5.000		09/01/25		493,132
	415,000		Palmdale Community Redevelopment Agency		5.000		09/01/31		462,460
	750,000		San Diego Public Facilities Financing Authority		5.000		10/15/31		820,781
	1,405,000		San Francisco City & County Airport Comm-San Francisco International Airport		5.000		05/01/31		1,635,015
	500,000		Santee CDC Successor Agency		5.000		08/01/27		556,583
			TOTAL CALIFORNIA						12,016,456

295

TIAA-CREF FUNDS - 5-15 Year Laddered Tax-Exempt Bond Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
COLORADO - 1.5%
$	1,500,000		City & County of Denver CO Airport System Revenue	5.000	%	11/15/30	$	1,675,860
	590,000		City & County of Denver CO Airport System Revenue	5.000		12/01/31		662,048
	250,000		Colorado Health Facilities Authority	5.000		12/01/41		272,765
	310,000		Denver Health & Hospital Authority	5.000		12/01/28		353,599
	1,000,000		Interlocken Metropolitan District	5.000		12/01/27		1,135,862
			TOTAL COLORADO					4,100,134
CONNECTICUT - 4.2%
	1,180,000		Capital Region Development Authority	5.000		06/15/29		1,315,410
	765,000		Capital Region Development Authority	5.000		06/15/33		846,241
	1,900,000		City of Bridgeport CT	5.000		06/01/34		2,215,056
	495,000		Connecticut State Health & Educational Facilities Authority	5.000		07/01/27		556,909
	630,000		Connecticut State Health & Educational Facilities Authority	5.000		07/01/29		700,022
	330,000		Connecticut State Health & Educational Facilities Authority	5.000		07/01/30		365,222
	350,000		Connecticut State Health & Educational Facilities Authority	5.000		07/01/32		390,558
	350,000		Connecticut State Health & Educational Facilities Authority	5.000		07/01/33		390,117
	300,000		Connecticut State Higher Education Supplement Loan Authority	5.000		11/15/25		326,845
	250,000		Connecticut State Higher Education Supplement Loan Authority	5.000		11/15/26		276,567
	500,000		State of Connecticut Special Tax Revenue	5.000		05/01/30		595,025
	1,000,000		State of Connecticut Special Tax Revenue	5.000		05/01/34		1,169,957
	2,000,000		University of Connecticut	5.000		03/15/28		2,204,134
			TOTAL CONNECTICUT					11,352,063
DISTRICT OF COLUMBIA - 3.2%
	955,000		District of Columbia	5.000		04/01/27		1,072,458
	2,680,000		Metropolitan Washington Airports Authority Aviation Revenue	5.000		10/01/28		3,041,381
	3,800,000		Metropolitan Washington Airports Authority Aviation Revenue	5.000		10/01/32		4,445,824
			TOTAL DISTRICT OF COLUMBIA					8,559,663
FLORIDA - 6.4%
	1,000,000		Alachua County Health Facilities Authority	5.000		12/01/31		1,161,519
	250,000		County of Broward FL Airport System Revenue	5.000		10/01/27		279,806
	250,000		County of Broward FL Airport System Revenue	5.000		10/01/28		279,978
	1,500,000		County of Miami-Dade FL Aviation Revenue	4.000		10/01/36		1,588,178
	3,000,000		Escambia County Health Facilities Authority	5.000		08/15/32		3,432,783
	715,000	g	Florida Development Finance Corp	6.750		12/01/56		693,966
	795,000		Greater Orlando Aviation Authority	5.000		10/01/26		891,605
	305,000		Greater Orlando Aviation Authority	5.000		10/01/26		334,655
	175,000		Hillsborough County Aviation Authority	5.000		10/01/31		196,701
	185,000		Hillsborough County Aviation Authority	5.000		10/01/32		207,659
	190,000		Hillsborough County Aviation Authority	5.000		10/01/33		213,006
	400,000		Hillsborough County Port District	5.000		06/01/29		449,288
	1,000,000		Hillsborough County Port District	5.000		06/01/33		1,120,519
	210,000		Miami-Dade County Educational Facilities Authority	5.000		04/01/28		237,640
	1,375,000		Miami-Dade County Expressway Authority	5.000		07/01/31		1,522,701
	255,000		Miami-Dade County Health Facilities Authority	4.000		08/01/37		270,235
	500,000		Pinellas County School Board	4.000		07/01/36		549,406
	2,180,000		Port St. Lucie Community Redevelopment Agency	5.000		01/01/26		2,391,946
	500,000		School District of Broward County	5.000		07/01/31		552,006
	540,000		Volusia County Educational Facility Authority	5.000		10/15/32		606,757
			TOTAL FLORIDA					16,980,354

296

TIAA-CREF FUNDS - 5-15 Year Laddered Tax-Exempt Bond Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
GEORGIA - 4.2%
$	1,250,000	Brookhaven Development Authority	5.000	%	07/01/27	$	1,430,157
	1,110,000	Burke County Development Authority	2.250		10/01/32		1,107,277
	1,000,000	Dahlonega Downtown Development Authority	4.000		07/01/37		1,062,524
	1,250,000	Dahlonega Downtown Development Authority	4.000		07/01/38		1,326,775
	1,000,000	Dahlonega Downtown Development Authority	5.000		07/01/39		1,123,877
	250,000	Georgia Municipal Association, Inc	5.000		12/01/30		285,835
	1,000,000	Glynn-Brunswick Memorial Hospital Authority	5.000		08/01/47		1,088,470
	1,020,000	Main Street Natural Gas, Inc	4.000		08/01/49		1,064,325
	2,500,000	Municipal Electric Authority of Georgia	5.000		01/01/62		2,808,555
		TOTAL GEORGIA					11,297,795
GUAM - 0.2%
	200,000	Port Authority of Guam	5.000		07/01/29		221,629
	200,000	Port Authority of Guam	5.000		07/01/30		220,631
		TOTAL GUAM					442,260
HAWAII - 1.4%
	1,275,000	City & County of Honolulu HI	5.000		09/01/27		1,459,852
	1,000,000	State of Hawaii Airports System Revenue	5.000		07/01/29		1,127,508
	1,000,000	State of Hawaii Airports System Revenue	5.000		07/01/41		1,064,916
		TOTAL HAWAII					3,652,276
ILLINOIS - 12.1%
	1,500,000	Chicago Board of Education	5.000		12/01/26		1,626,420
	1,335,000	Chicago Board of Education	4.000		12/01/27		1,388,731
	500,000	Chicago Housing Authority	5.000		01/01/33		554,812
	2,000,000	Chicago Midway International Airport	5.000		01/01/26		2,166,011
	300,000	Chicago O’Hare International Airport	5.000		01/01/28		330,046
	1,000,000	Chicago O’Hare International Airport	5.000		01/01/32		1,061,935
	300,000	Chicago Transit Authority	5.000		06/01/28		345,665
	3,250,000	City of Chicago IL	5.000		01/01/28		3,542,480
	1,000,000	City of Chicago IL	4.000		01/01/35		1,008,969
	1,000,000	City of Chicago IL Wastewater Transmission Revenue	5.000		01/01/26		1,100,623
	1,250,000	City of Chicago IL, GO	5.000		01/01/29		1,372,741
	1,500,000	City of Chicago IL, GO	5.500		01/01/35		1,605,800
	650,000	City of Chicago IL, GO	5.500		01/01/37		695,597
	500,000	City of Chicago IL, GO	5.500		01/01/42		533,951
	150,000	Cook County School District No 78 Rosemont	5.000		12/01/31		179,791
	1,750,000	County of Cook IL	5.000		11/15/31		1,936,769
	1,160,000	County of Cook IL Sales Tax Revenue	5.000		11/15/36		1,348,716
	700,000	Illinois State Toll Highway Authority	4.000		01/01/42		742,792
	630,000	Illinois State Toll Highway Authority	4.000		01/01/46		662,560
	305,000	Metropolitan Pier & Exposition Authority	4.000		06/15/52		300,899
	2,000,000	Metropolitan Water Reclamation District of Greater Chicago	5.000		12/01/30		2,242,278
	1,500,000	Sales Tax Securitization Corp	5.000		01/01/30		1,680,673
	115,000	Sales Tax Securitization Corp	2.857		01/01/31		108,609
	2,000,000	State of Illinois	5.000		06/01/28		2,169,874
	1,500,000	State of Illinois	5.000		03/01/37		1,663,633
	250,000	Village of Broadview IL	5.000		12/01/28		288,829
	200,000	Village of Broadview IL	5.000		12/01/29		230,371
	545,000	Village of Broadview IL	5.000		12/01/30		625,881
	745,000	Village of Broadview IL	5.000		12/01/33		852,150
		TOTAL ILLINOIS					32,367,606

297

TIAA-CREF FUNDS - 5-15 Year Laddered Tax-Exempt Bond Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
INDIANA - 0.6%
$	1,365,000		City of Whiting IN	5.000	%	12/01/44	$	1,495,306
			TOTAL INDIANA					1,495,306
IOWA - 0.2%
	475,000		Iowa Higher Education Loan Authority	5.000		10/01/27		542,055
			TOTAL IOWA					542,055
KENTUCKY - 1.0%
	1,250,000		Paducah Electric Plant Board	5.000		10/01/34		1,397,915
	1,250,000		Paducah Electric Plant Board	5.000		10/01/35		1,396,780
			TOTAL KENTUCKY					2,794,695
LOUISIANA - 1.3%
	480,000		City of New Orleans LA Sewerage Service Revenue	4.000		06/01/36		519,243
	750,000		Louisiana Local Government Environmental Facilities & Community Development Authority	5.000		10/01/27		853,384
	500,000		New Orleans Aviation Board	5.000		10/01/33		580,074
	1,250,000		St. Tammany Parish Hospital Service District No	5.000		07/01/33		1,423,849
			TOTAL LOUISIANA					3,376,550
MAINE - 0.0%
	750,000	*,†,g,q	Finance Authority of Maine	5.375		12/15/33		84,324
			TOTAL MAINE					84,324
MARYLAND - 0.8%
	2,000,000		County of Baltimore MD	4.000		01/01/29		2,196,743
			TOTAL MARYLAND					2,196,743
MASSACHUSETTS - 1.1%
	500,000		Massachusetts Development Finance Agency	5.000		12/01/29		559,629
	2,100,000		University of Massachusetts Building Authority	5.000		11/01/29		2,500,130
			TOTAL MASSACHUSETTS					3,059,759
MICHIGAN - 4.4%
	500,000		Charlotte Public School District	4.000		05/01/36		560,672
	2,000,000		Michigan Finance Authority	5.000		04/01/25		2,163,224
	2,000,000		Michigan Finance Authority	5.000		11/15/28		2,219,894
	1,000,000		Michigan Finance Authority	5.000		12/01/36		1,173,326
	1,650,000		Michigan Finance Authority	5.000		07/01/44		1,666,021
	1,750,000		State of Michigan Trunk Line Revenue	5.000		11/15/30		2,113,848
	385,000		Wayne County Airport Authority	5.000		12/01/29		440,271
	1,250,000		Wayne County Airport Authority	5.000		12/01/29		1,417,204
			TOTAL MICHIGAN					11,754,460
MINNESOTA - 0.7%
	1,055,000		City of Minneapolis MN	5.000		11/15/33		1,216,929
	70,000		Duluth Economic Development Authority	5.000		02/15/33		79,385
	500,000		Northern Municipal Power Agency	5.000		01/01/28		548,800
			TOTAL MINNESOTA					1,845,114

298

TIAA-CREF FUNDS - 5-15 Year Laddered Tax-Exempt Bond Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
MISSISSIPPI - 1.3%
$	1,045,000		Mississippi Development Bank	5.000	%	03/01/26	$	1,155,656
	1,000,000		Mississippi Development Bank	5.000		06/01/27		1,139,682
	1,000,000		Mississippi Development Bank	5.000		03/01/35		1,099,096
			TOTAL MISSISSIPPI					3,394,434
MISSOURI - 3.0%
	1,225,000		City of Kansas City MO	5.000		10/01/26		1,345,947
	2,500,000		City of Kansas City MO Sanitary Sewer System Revenue	3.000		01/01/37		2,507,268
	1,000,000		City of St. Louis MO Parking Revenue	5.000		12/15/26		1,102,528
	900,000		Health & Educational Facilities Authority of the State of Missouri	5.000		02/15/28		1,032,418
	1,745,000		St. Louis Municipal Finance Corp	5.000		02/15/26		1,924,433
			TOTAL MISSOURI					7,912,594
NEVADA - 0.4%
	1,000,000		Las Vegas Redevelopment Agency	5.000		06/15/26		1,089,699
			TOTAL NEVADA					1,089,699
NEW HAMPSHIRE - 0.1%
	130,000		New Hampshire Business Finance Authority	5.000		04/01/31		149,472
			TOTAL NEW HAMPSHIRE					149,472
NEW JERSEY - 5.9%
	350,000		Gloucester County Improvement Authority	5.000		07/01/34		407,963
	1,000,000		New Jersey Economic Development Authority	5.000		06/15/27		1,113,730
	2,500,000		New Jersey Economic Development Authority	5.000		11/01/35		2,792,888
	1,000,000		New Jersey Educational Facilities Authority	5.000		07/01/27		1,109,229
	1,000,000		New Jersey Transportation Trust Fund Authority	5.000		06/15/29		1,106,605
	765,000		New Jersey Transportation Trust Fund Authority	5.000		12/15/33		852,836
	1,120,000		New Jersey Transportation Trust Fund Authority	4.000		06/15/34		1,175,347
	4,000,000		New Jersey Transportation Trust Fund Authority	5.000		06/15/34		4,451,743
	1,000,000		New Jersey Transportation Trust Fund Authority	4.000		06/15/36		1,042,577
	1,025,000	h	New Jersey Transportation Trust Fund Authority	4.000		06/15/39		1,057,880
	500,000		South Jersey Port Corp	5.000		01/01/48		533,761
			TOTAL NEW JERSEY					15,644,559
NEW YORK - 6.0%
	1,000,000		Brooklyn Arena Local Development Corp	5.000		07/15/26		1,107,763
	10,000		Metropolitan Transportation Authority	4.000		11/15/34		10,341
	1,250,000		Metropolitan Transportation Authority	5.000		11/15/50		1,361,014
	160,000		New York City Industrial Development Agency	3.000		01/01/46		140,489
	1,750,000		New York State Dormitory Authority	5.000		07/01/33		1,974,631
	1,000,000		New York State Urban Development Corp	5.000		03/15/35		1,157,738
	375,000		New York Transportation Development Corp	5.000		07/01/30		396,438
	1,080,000		New York Transportation Development Corp	4.000		10/01/30		1,118,846
	1,000,000		New York Transportation Development Corp	5.000		08/01/31		1,008,662
	715,000		New York Transportation Development Corp	5.000		01/01/36		776,914
	505,000		New York Transportation Development Corp	5.000		12/01/36		562,879
	635,000		New York Transportation Development Corp	5.000		12/01/36		706,773
	1,500,000		Port Authority of New York & New Jersey	5.000		07/15/31		1,735,538
	1,000,000		Port Authority of New York & New Jersey	4.000		11/01/34		1,050,232
	1,000,000		Port Authority of New York & New Jersey	5.000		11/01/35		1,132,384
	1,625,000		Port Authority of New York & New Jersey	4.000		07/15/36		1,700,600
			TOTAL NEW YORK					15,941,242

299

TIAA-CREF FUNDS - 5-15 Year Laddered Tax-Exempt Bond Fund

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE
NORTH CAROLINA - 1.6%
$	1,355,000		County of Duplin NC	5.000	%	04/01/27	$	1,487,652
	1,000,000		North Carolina Capital Facilities Finance Agency	5.000		05/01/31		1,161,981
	210,000		North Carolina Medical Care Commission	4.000		02/01/36		232,282
	255,000		North Carolina Medical Care Commission	3.000		07/01/36		250,636
	1,000,000		The Charlotte-Mecklenburg Hospital Authority	5.000		01/15/26		1,105,789
			TOTAL NORTH CAROLINA					4,238,340
NORTH DAKOTA - 0.4%
	1,000,000		North Dakota Housing Finance Agency	2.400		01/01/26		999,847
			TOTAL NORTH DAKOTA					999,847
OHIO - 2.8%
	1,000,000		American Municipal Power, Inc	5.000		02/15/34		1,148,968
	1,000,000		City of Cleveland OH Airport System Revenue	5.000		01/01/27		1,103,086
	200,000		City of Cleveland OH Income Tax Revenue	5.000		10/01/27		228,790
	250,000		City of Cleveland OH Income Tax Revenue	5.000		10/01/28		288,791
	240,000		City of Toledo OH	4.000		12/01/29		262,959
	250,000		City of Toledo OH	4.000		12/01/30		275,533
	200,000		City of Toledo OH	4.000		12/01/31		219,387
	1,500,000		County of Miami OH	5.000		08/01/32		1,715,153
	725,000		County of Montgomery OH	5.000		08/01/36		855,688
	300,000		Lebanon City School District	3.000		12/01/36		298,005
	700,000		Miami University	5.000		09/01/28		815,841
	175,000		State of Ohio	5.000		01/15/35		198,084
			TOTAL OHIO					7,410,285
OKLAHOMA - 0.9%
	750,000		Oklahoma Development Finance Authority	5.000		08/15/28		848,673
	1,500,000		Oklahoma Development Finance Authority	5.250		08/15/48		1,609,198
			TOTAL OKLAHOMA					2,457,871
OREGON - 0.5%
	3,000,000	*,†,g,q	Oregon State Business Development Commission	6.500		04/01/31		219,000
	1,000,000	*,†,q	Oregon State Business Development Commission	11.500		04/01/31		60,000
	625,000	†,g	Oregon State Business Development Commission	0.000		04/01/37		45,625
	1,000,000		Tri-County Metropolitan Transportation District of Oregon	5.000		10/01/28		1,149,112
			TOTAL OREGON					1,473,737
PENNSYLVANIA - 3.2%
	1,100,000		Allegheny County Higher Education Building Authority	5.000		03/01/29		1,199,933
	480,000		Borough of Columbia PA	4.000		06/15/38		482,931
	740,000		Coatesville School District	5.000		08/01/25		808,319
	500,000		Lancaster County Career & Technology Center Authority	4.000		02/01/25		525,672
	500,000		Lancaster County Career & Technology Center Authority	4.000		02/01/26		533,463
	670,000		Lancaster County Career & Technology Center Authority	4.000		02/01/30		724,207
	500,000		Pennsylvania Economic Development Financing Authority	5.000		10/15/34		591,192
	415,000		Pittsburgh Water & Sewer Authority	5.000		09/01/27		474,028
	1,500,000		School District of the City of Erie	5.000		04/01/28		1,708,130
	500,000		South Wayne County Water and Sewer Authority	4.000		02/15/37		540,545
	915,000		Township of Northampton PA	4.000		05/15/33		972,244
			TOTAL PENNSYLVANIA					8,560,664

300

TIAA-CREF FUNDS - 5-15 Year Laddered Tax-Exempt Bond Fund

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE
RHODE ISLAND - 0.3%
$	825,000	Rhode Island Commerce Corp	5.000	%	06/15/27	$	930,944
		TOTAL RHODE ISLAND					930,944
SOUTH CAROLINA - 2.1%
	2,000,000	Center for Arts & Health Sciences Public Facilities Corp	4.000		10/01/37		2,216,123
	265,000	City of Rock Hill SC Combined Utility System Revenue	5.000		01/01/27		297,592
	170,000	City of Rock Hill SC Combined Utility System Revenue	5.000		01/01/28		194,328
	265,000	City of Rock Hill SC Combined Utility System Revenue	5.000		01/01/29		307,935
	500,000	South Carolina Public Service Authority	4.000		12/01/37		532,688
	890,000	South Carolina Public Service Authority	4.000		12/01/40		943,666
	1,000,000	Spartanburg Regional Health Services District	4.000		04/15/37		1,082,305
		TOTAL SOUTH CAROLINA					5,574,637
TENNESSEE - 1.3%
	180,000	Metropolitan Government Nashville & Davidson County Health & Educational Facs Bd	4.000		05/01/37		194,328
	2,305,000	Metropolitan Nashville Airport Authority	5.000		07/01/35		2,605,804
	755,000	Tennessee Energy Acquisition Corp	4.000		11/01/49		780,117
		TOTAL TENNESSEE					3,580,249
TEXAS - 9.5%
	350,000	Atascosa County Industrial Development Corp	5.000		12/15/28		391,692
	350,000	Atascosa County Industrial Development Corp	5.000		12/15/29		395,550
	400,000	Atascosa County Industrial Development Corp	5.000		12/15/30		456,013
	1,100,000	Central Texas Regional Mobility Authority	5.000		01/01/27		1,223,763
	1,210,000	Central Texas Regional Mobility Authority	5.000		01/01/29		1,362,290
	750,000	Central Texas Regional Mobility Authority	4.000		01/01/36		794,912
	400,000	City of Austin TX Airport System Revenue	5.000		11/15/27		446,962
	900,000	City of Austin TX Airport System Revenue	5.000		11/15/39		951,792
	1,000,000	City of El Paso TX	4.000		08/15/35		1,097,615
	2,000,000	City of El Paso TX Airport Revenue	5.000		08/15/28		2,249,448
	1,970,000	City of Houston TX	5.000		03/01/32		2,204,976
	3,000,000	City of Houston TX Combined Utility System Revenue	5.000		11/15/29		3,559,903
	1,000,000	Conroe Independent School District	2.500		02/15/37		933,412
	500,000	County of Galveston TX	4.000		02/01/38		530,504
	150,000	Harris County Toll Road Authority	4.000		08/15/36		164,959
	1,000,000	North Texas Tollway Authority	5.000		01/01/30		1,145,040
	420,000	Port Freeport TX	5.000		06/01/28		469,860
	825,000	Port Freeport TX	5.000		06/01/29		922,696
	865,000	Port Freeport TX	5.000		06/01/30		977,100
	935,000	Port Freeport TX	5.000		06/01/32		1,047,964
	2,500,000	Texas Private Activity Bond Surface Transportation Corp	5.000		12/31/35		2,798,534
	1,000,000	University of North Texas	5.000		04/15/27		1,136,424
		TOTAL TEXAS					25,261,409
UTAH - 1.0%
	475,000	Salt Lake City Corp Airport Revenue	5.000		07/01/31		530,532
	1,000,000	Salt Lake City Corp Airport Revenue	5.000		07/01/32		1,115,511
	1,000,000	Salt Lake City Corp Airport Revenue	5.000		07/01/33		1,112,841
		TOTAL UTAH					2,758,884

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	$	2,142,559
	2,500,000	g	Virgin Islands Public Finance Authority	5.000		09/01/33		2,692,222
			TOTAL VIRGIN ISLANDS					4,834,781
VIRGINIA - 0.2%
	400,000		Virginia Small Business Financing Authority	5.000		12/31/47		445,729
			TOTAL VIRGINIA					445,729
WASHINGTON - 1.7%
	500,000		Klickitat County Public Utility District No	5.000		12/01/27		573,630
	1,000,000		Pend Oreille County Public Utility District No  Box Canyon	5.000		01/01/29		1,110,649
	1,000,000		Pierce County School District No 403 Bethel	4.000		12/01/37		1,113,296
	1,500,000	i	Washington Health Care Facilities Authority	4.000		10/01/42		1,660,694
			TOTAL WASHINGTON					4,458,269
WEST VIRGINIA - 1.3%
	1,000,000		West Virginia Higher Education Policy Commission	5.000		07/01/27		1,140,924
	750,000		West Virginia Hospital Finance Authority	5.000		01/01/29		855,464
	1,215,000		West Virginia Hospital Finance Authority	5.000		01/01/30		1,380,593
			TOTAL WEST VIRGINIA					3,376,981
			TOTAL LONG-TERM MUNICIPAL BONDS					261,491,882
			(Cost $270,706,524)
			TOTAL INVESTMENTS - 97.9%					261,491,882
			(Cost $270,706,524)
			OTHER ASSETS & LIABILITIES, NET - 2.1%					5,573,901
			NET ASSETS - 100.0%				$	267,065,783

GO	General Obligation
*	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 3/31/22, the aggregate value of these securities is $6,909,906 or 2.6% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.
i	Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.
q	In default

302

TIAA-CREF FUNDS - Green Bond Fund

TIAA-CREF FUNDS

GREEN BOND FUND

SCHEDULE OF INVESTMENTS

March 31, 2022

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
BANK LOAN OBLIGATIONS - 0.9%
COMMERCIAL & PROFESSIONAL SERVICES - 0.5%
$	496,256	i	LTR Intermediate Holdings, Inc	LIBOR  3M + 4.500%		5.500	%	05/05/28	$	486,331
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES							486,331
UTILITIES - 0.4%
	488,748	i	Exgen Renewables IV LLC	LIBOR  3M + 2.500%		3.500		12/15/27		483,558
			TOTAL UTILITIES							483,558
			TOTAL BANK LOAN OBLIGATIONS							969,889
			(Cost $977,994)
BONDS - 92.2%
CORPORATE BONDS - 55.3%
AUTOMOBILES & COMPONENTS - 0.7%
	250,000		Dana, Inc			4.250		09/01/30		228,800
	250,000		Ford Motor Co			3.250		02/12/32		223,283
	350,000	g	Hyundai Capital Services, Inc			1.250		02/08/26		321,047
			TOTAL AUTOMOBILES & COMPONENTS							773,130
BANKS - 4.6%
	1,200,000	g	ABN AMRO Bank NV			2.470		12/13/29		1,096,796
	250,000	g	Bank Hapoalim BM			3.255		01/21/32		230,000
	250,000		Bank of America Corp			0.981		09/25/25		236,952
	475,000		Bank of America Corp			2.456		10/22/25		466,735
	1,000,000		Canadian Imperial Bank of Commerce			0.950		10/23/25		919,944
	250,000		Citigroup, Inc			0.776		10/30/24		241,520
	1,000,000	g	ING Groep NV			1.400		07/01/26		925,132
	250,000	g	Itau Unibanco Holding S.A.			3.875		04/15/31		236,875
	250,000		NatWest Group plc			2.359		05/22/24		247,969
	200,000	g	Shinhan Financial Group Co Ltd			3.340		02/05/30		196,946
			TOTAL BANKS							4,798,869
CAPITAL GOODS - 1.8%
	250,000		Johnson Controls International plc			1.750		09/15/30		223,194
	1,000,000		Xylem, Inc			1.950		01/30/28		925,484
	755,000		Xylem, Inc			2.250		01/30/31		685,796
			TOTAL CAPITAL GOODS							1,834,474
COMMERCIAL & PROFESSIONAL SERVICES - 0.9%
	1,000,000		International Bank for Reconstruction & Development			0.000		03/31/27		943,723
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES							943,723

303

TIAA-CREF FUNDS - Green Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
CONSUMER DURABLES & APPAREL - 0.2%
$	250,000		Whirlpool Corp			2.400	%	05/15/31	$	227,502
			TOTAL CONSUMER DURABLES & APPAREL							227,502
CONSUMER SERVICES - 1.9%
	250,000		Conservation Fund			3.474		12/15/29		249,786
	260,000	i	Nature Conservancy	LIBOR 3 M + 1.080%		1.397		02/01/24		259,999
	500,000		Nature Conservancy			1.511		07/01/29		437,537
	1,000,000		Nature Conservancy			3.957		03/01/52		1,032,097
			TOTAL CONSUMER SERVICES							1,979,419
DIVERSIFIED FINANCIALS - 2.6%
	1,000,000		Kreditanstalt fuer Wiederaufbau			2.000		09/29/22		1,004,147
	280,000	g	Starwood Property Trust, Inc			3.750		12/31/24		271,600
	1,000,000		Toyota Motor Credit Corp			2.150		02/13/30		927,471
	500,000	g	WLB Asset II C Pte Ltd			3.900		12/23/25		479,943
			TOTAL DIVERSIFIED FINANCIALS							2,683,161
ENERGY - 0.5%
	250,000	g	Renewable Energy Group, Inc			5.875		06/01/28		268,532
	270,000	e,g	Sunnova Energy Corp			5.875		09/01/26		258,358
			TOTAL ENERGY							526,890
FOOD & STAPLES RETAILING - 1.6%
	250,000		SYSCO Corp			2.400		02/15/30		232,482
	1,575,000		Walmart, Inc			1.800		09/22/31		1,432,750
			TOTAL FOOD & STAPLES RETAILING							1,665,232
FOOD, BEVERAGE & TOBACCO - 1.1%
	250,000	g	NBM US Holdings, Inc			6.625		08/06/29		263,050
	1,000,000		PepsiCo, Inc			2.875		10/15/49		926,367
			TOTAL FOOD, BEVERAGE & TOBACCO							1,189,417
HEALTH CARE EQUIPMENT & SERVICES - 1.0%
	1,000,000		Kaiser Foundation Hospitals			2.810		06/01/41		873,202
	250,000		Stanford Health Care			3.027		08/15/51		221,055
			TOTAL HEALTH CARE EQUIPMENT & SERVICES							1,094,257
MATERIALS - 3.0%
	250,000	g	Celulosa Arauco y Constitucion S.A.			5.150		01/29/50		247,190
	525,000	g	Inversiones CMPC S.A.			4.375		04/04/27		549,124
	500,000	g	LG Chem Ltd			3.625		04/15/29		500,718
	1,000,000		Sonoco Products Co			2.250		02/01/27		946,827
	1,000,000		Sonoco Products Co			2.850		02/01/32		934,636
			TOTAL MATERIALS							3,178,495

304

TIAA-CREF FUNDS - Green Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
REAL ESTATE - 5.4%
$	500,000		Alexandria Real Estate Equities, Inc		2.950	%	03/15/34	$	470,396
	250,000		Equinix, Inc		1.000		09/15/25		229,731
	1,300,000		Federal Realty Investment Trust		1.250		02/15/26		1,196,319
	250,000	g	HAT Holdings I LLC		6.000		04/15/25		256,250
	250,000	g	HAT Holdings I LLC		3.375		06/15/26		237,500
	250,000	g	HAT Holdings I LLC		3.750		09/15/30		225,000
	300,000		Healthpeak Properties, Inc		2.125		12/01/28		275,863
	1,000,000		Host Hotels & Resorts LP		2.900		12/15/31		893,854
	250,000		Kilroy Realty LP		2.500		11/15/32		217,286
	1,000,000		Kilroy Realty LP		2.650		11/15/33		866,410
	285,000	g	Starwood Property Trust, Inc		4.375		01/15/27		276,450
	250,000		UDR, Inc		1.900		03/15/33		208,844
	275,000		Vornado Realty LP		2.150		06/01/26		257,018
			TOTAL REAL ESTATE						5,610,921
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 1.3%
	250,000	g	NXP BV		3.400		05/01/30		242,314
	1,275,000	g	SK Hynix, Inc		2.375		01/19/31		1,111,347
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT						1,353,661
SOFTWARE & SERVICES - 0.3%
	300,000		Mastercard, Inc		1.900		03/15/31		277,541
			TOTAL SOFTWARE & SERVICES						277,541
TECHNOLOGY HARDWARE & EQUIPMENT - 2.1%
	1,000,000		Apple, Inc		2.850		02/23/23		1,008,321
	948,000		Apple, Inc		3.000		06/20/27		958,918
	250,000		HP, Inc		2.650		06/17/31		223,675
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						2,190,914
TELECOMMUNICATION SERVICES - 1.0%
	1,000,000		Verizon Communications, Inc		3.875		03/01/52		1,004,789
			TOTAL TELECOMMUNICATION SERVICES						1,004,789
UTILITIES - 25.3%
	1,250,000		AES Corp		1.375		01/15/26		1,149,465
	350,000		AES Corp		2.450		01/15/31		312,989
	250,000	g	AES Gener S.A.		6.350		10/07/79		246,877
	270,000	g	Atlantica Sustainable Infrastructure plc		4.125		06/15/28		260,188
	1,777,000		Avangrid, Inc		3.200		04/15/25		1,771,504
	300,000	g	Clearway Energy Operating LLC		4.750		03/15/28		301,299
	225,000	g	Clearway Energy Operating LLC		3.750		02/15/31		210,396
	215,000	g	Consorcio Transmantaro SA		4.700		04/16/34		216,935
	246,563	g	Continuum Energy Levanter Pte Ltd		4.500		02/09/27		237,070
	1,000,000		Dominion Energy, Inc		2.250		08/15/31		900,749
	1,000,000		DTE Electric Co		1.900		04/01/28		930,197
	1,000,000		Duke Energy Florida LLC		2.500		12/01/29		940,508
	1,000,000		Duke Energy Progress LLC		3.450		03/15/29		1,001,969
	250,000	g	EDP Finance BV		1.710		01/24/28		220,472

305

TIAA-CREF FUNDS - Green Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	250,000	g	Electricite de France S.A.		3.625	%	10/13/25	$	250,479
	250,000		Evergy, Inc		2.550		07/01/26		244,417
	747,000		Georgia Power Co		3.250		04/01/26		749,474
	292,050	g	India Cleantech Energy		4.700		08/10/26		273,460
	1,650,000		Interstate Power & Light Co		3.600		04/01/29		1,648,402
	750,000	g	Liberty Utilities Finance GP		2.050		09/15/30		657,559
	250,000		MidAmerican Energy Co		3.100		05/01/27		249,886
	120,000		MidAmerican Energy Co		3.150		04/15/50		110,211
	500,000		MidAmerican Energy Co		2.700		08/01/52		427,393
	1,075,000	g	New York State Electric & Gas Corp		2.150		10/01/31		953,851
	950,000	g	Niagara Mohawk Power Corp		1.960		06/27/30		844,246
	500,000		Northwest Natural Gas Co		3.078		12/01/51		422,349
	250,000		NorthWestern Corp		4.176		11/15/44		263,404
	1,000,000		PacifiCorp		2.900		06/15/52		873,707
	100,000	g	Pattern Energy Operations LP		4.500		08/15/28		98,381
	529,000		Public Service Co of Colorado		3.700		06/15/28		539,691
	250,000		Public Service Co of Colorado		3.200		03/01/50		233,280
	1,000,000		Public Service Electric and Gas Co		3.100		03/15/32		987,912
	750,000		San Diego Gas & Electric Co		2.950		08/15/51		658,820
	1,000,000		SCE Recovery Funding LLC		2.943		11/15/42		959,300
	960,000		SCE Recovery Funding LLC		3.240		11/15/46		896,458
	250,000	g	Sociedad de Transmision Austral S.A.		4.000		01/27/32		242,390
	500,000		Southwestern Electric Power Co		3.250		11/01/51		429,919
	500,000		Southwestern Public Service Co		3.150		05/01/50		447,655
	209,675	g	Star Energy Geothermal Wayang Windu Ltd		6.750		04/24/33		221,207
	500,000	g	Sweihan PV Power Co PJSC		3.625		01/31/49		461,760
	337,155	g	Topaz Solar Farms LLC		4.875		09/30/39		356,541
	525,000		Tucson Electric Power Co		1.500		08/01/30		449,141
	192,383	g	UEP Penonome II S.A.		6.500		10/01/38		182,764
	500,000		Union Electric Co		2.625		03/15/51		413,800
	1,075,000	*,h	Union Electric Co		3.900		04/01/52		1,112,138
	1,050,000	g	Vistra Corp		7.000		N/A‡		1,022,143
			TOTAL UTILITIES						26,382,756
			TOTAL CORPORATE BONDS						57,715,151
			(Cost $59,810,816)
GOVERNMENT BONDS - 16.7%
AGENCY SECURITIES - 3.7%
	223,427		Overseas Private Investment Corp (OPIC)		1.790		10/15/29		214,513
	223,427		OPIC		2.360		10/15/29		219,282
	1,639,887		OPIC		3.430		06/01/33		1,678,683
	1,125,276		OPIC		2.940		07/31/33		1,121,717
	250,000		United States International Development Finance Corp		1.650		04/15/28		235,315
	223,427		United States International Development Finance Corp		1.050		10/15/29		208,354
	246,799		United States International Development Finance Corp		1.630		07/15/38		222,492
			TOTAL AGENCY SECURITIES						3,900,356

306

TIAA-CREF FUNDS - Green Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
FOREIGN GOVERNMENT BONDS - 6.8%
$	300,000	g	Arab Petroleum Investments Corp		1.483	%	10/06/26	$	280,982
	579,000		Asian Development Bank		1.750		08/14/26		559,766
	750,000		Asian Development Bank		3.125		09/26/28		777,602
	250,000	g	CDP Financial, Inc		1.000		05/26/26		233,410
	250,000		Chile Government International Bond		3.500		01/25/50		228,548
	200,000	g	Egypt Government International Bond		5.250		10/06/25		192,305
	250,000		European Bank for Reconstruction & Development		1.625		09/27/24		244,652
	250,000		European Investment Bank		0.625		10/21/27		224,754
	250,000		European Investment Bank		1.625		10/09/29		235,467
	2,000,000		European Investment Bank		0.750		09/23/30		1,746,825
	500,000		International Bank for Reconstruction & Development		2.125		03/03/25		493,467
	500,000		International Bank for Reconstruction & Development		3.125		11/20/25		508,513
	235,000	g	Korea Electric Power Corp		1.125		06/15/25		220,508
	500,000		Kreditanstalt fuer Wiederaufbau		1.000		10/01/26		468,049
	250,000		North American Development Bank		2.400		10/26/22		251,298
	300,000	g	Perusahaan Penerbit SBSN Indonesia III		3.750		03/01/23		303,750
			TOTAL FOREIGN GOVERNMENT BONDS						6,969,896
MORTGAGE BACKED - 0.4%
	250,000	i	Federal National Mortgage Association (FNMA)		1.510		11/25/30		223,905
	250,000	i	FNMA		1.250		01/25/31		218,978
			TOTAL MORTGAGE BACKED						442,883
MUNICIPAL BONDS - 5.8%
	180,000	g	California Municipal Finance Authority		6.375		11/15/48		182,057
	300,000		City of Cleveland OH Income Tax Revenue		3.072		10/01/41		267,800
	600,000		City of Los Angeles Department of Airports Customer Facility Charge Revenue		4.242		05/15/48		591,786
	250,000		City of San Francisco CA Public Utilities Commission Water Revenue		2.825		11/01/41		219,556
	400,000	g	Florida Development Finance Corp		6.750		12/01/56		388,233
	600,000		Grant County Public Utility District No 2		1.544		01/01/23		599,831
	250,000		Grant County Public Utility District No 2		3.210		01/01/40		234,899
	235,000		Great Lakes Water Authority Sewage Disposal System Revenue		3.056		07/01/39		220,772
	100,000		Klickitat County Public Utilities		3.688		12/01/38		101,978
	315,000		Massachusetts Clean Energy Cooperative Corp		2.485		07/01/32		295,355
	500,000		Metropolitan Transportation Authority		5.175		11/15/49		572,091
	170,000		Morris County Improvement Authority		1.298		06/15/27		158,832
	210,000		Mount Shasta Public Financing Authority		3.000		08/01/35		211,546
	220,000		Mount Shasta Public Financing Authority		2.625		08/01/36		207,847
	120,000		Mount Shasta Public Financing Authority		2.625		08/01/37		112,999
	160,000		Mount Shasta Public Financing Authority		2.750		08/01/38		150,662
	165,000		Mount Shasta Public Financing Authority		2.750		08/01/39		151,951
	65,000		New York State Energy Research & Development Authority		4.577		04/01/35		67,054
	105,000		New York State Environmental Facilities Corp		2.506		11/15/22		105,452
	500,000	g	Ohio Air Quality Development Authority		4.500		01/15/48		512,243
	250,000	g	Pennsylvania Economic Development Financing Authority		10.000		12/01/29		243,952
	500,000	g	Warm Springs Reservation Confederated Tribe		2.800		11/01/22		502,319
			TOTAL MUNICIPAL BONDS						6,099,215
			TOTAL GOVERNMENT BONDS						17,412,350
			(Cost $18,074,564)

307

TIAA-CREF FUNDS - Green Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
STRUCTURED ASSETS - 20.2%
ASSET BACKED - 10.9%
$	250,000	g,i	BFLD Trust	LIBOR 1 M + 2.100%		2.497	%	10/15/35	$	246,871
			Series - 2020 EYP (Class C)
	90,039	g	GoodLeap Sustainable Home Solutions Trust			2.100		05/20/48		82,954
			Series - 2021 3CS (Class A)
	319,805	g	GoodLeap Sustainable Home Solutions Trust			1.930		07/20/48		289,519
			Series - 2021 4GS (Class A)
	265,000	g	GoodLeap Sustainable Home Solutions Trust			2.560		10/20/48		238,891
			Series - 2021 5CS (Class B)
	499,139	g	GoodLeap Sustainable Home Solutions Trust			2.700		01/20/49		466,716
			Series - 2022 1GS (Class A)
	139,274	g	HERO Funding Trust			4.050		09/20/41		139,919
			Series - 2016 1A (Class A)
	212,784	g	HERO Funding Trust			3.910		09/20/42		212,035
			Series - 2016 3A (Class A2)
	127,403	g	HERO Funding Trust			4.290		09/20/47		127,419
			Series - 2016 4A (Class A2)
	59,162	g	HERO Funding Trust			4.460		09/20/47		59,652
			Series - 2017 1A (Class A2)
	138,906	g	HERO Funding Trust			3.190		09/20/48		136,612
			Series - 2017 3A (Class A1)
	279,895	g	HERO Funding Trust			3.950		09/20/48		276,185
			Series - 2017 3A (Class A2)
	149,680	g	HERO Funding Trust			2.720		09/20/57		144,137
			Series - 2020 1A (Class A)
	191,483	g	Loanpal Solar Loan Ltd			2.290		01/20/48		174,962
			Series - 2021 1GS (Class A)
	239,364	†,g	Mosaic Solar Loan Trust			0.000		04/20/46		208,247
			Series - 2020 1A (Class R)
	496,421	g	Mosaic Solar Loan Trust			2.100		04/20/46		468,984
			Series - 2020 1A (Class A)
	167,024	g	Mosaic Solar Loan Trust			1.440		08/20/46		152,168
			Series - 2020 2A (Class A)
	920,242	g	Mosaic Solar Loan Trust			2.050		12/20/46		848,322
			Series - 2021 1A (Class B)
	382,539	g	Mosaic Solar Loan Trust			2.250		12/20/46		367,597
			Series - 2021 1A (Class C)
	625,937	g	Mosaic Solar Loan Trust			1.440		06/20/52		570,807
			Series - 2021 3A (Class A)
	1,000,000	g	Mosaic Solar Loan Trust			1.770		06/20/52		924,206
			Series - 2021 3A (Class C)
	204,741	g	Renew			2.060		11/20/56		190,473
			Series - 2021 1 (Class A)
	1,191,289	g	Sunnova Helios VIII Issuer LLC			2.790		02/22/49		1,140,071
			Series - 2022 A (Class A)
	231,219	g	Sunrun Athena Issuer LLC			5.310		04/30/49		237,682
			Series - 2018 1 (Class A)
	470,195	g	Sunrun Atlas Issuer LLC			3.610		02/01/55		460,821
			Series - 2019 2 (Class A)

308

TIAA-CREF FUNDS - Green Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	393,296	g	Sunrun Callisto Issuer LLC			3.980	%	06/30/54	$	386,935
			Series - 2019 1A (Class A)
	238,749	g	Sunrun Vulcan Issuer LLC			2.460		01/30/52		219,950
			Series - 2021 1A (Class A)
	131,336	g	Tesla Auto Lease Trust			2.160		10/20/22		131,504
			Series - 2019 A (Class A3)
	250,000	g	Tesla Auto Lease Trust			2.200		11/21/22		250,418
			Series - 2019 A (Class A4)
	250,000	g	Tesla Auto Lease Trust			0.780		12/20/23		247,306
			Series - 2020 A (Class A4)
	250,000	g	Tesla Auto Lease Trust			2.330		02/20/24		248,487
			Series - 2020 A (Class D)
	250,000	g	Tesla Auto Lease Trust			0.560		03/20/25		242,331
			Series - 2021 A (Class A3)
	300,000	g	Tesla Auto Lease Trust			0.600		09/22/25		289,644
			Series - 2021 B (Class A3)
	550,067	g	Vivint Colar Financing V LLC			7.370		04/30/48		551,936
			Series - 2018 1A (Class B)
	702,612	g	Vivint Solar Financing VII LLC			2.210		07/31/51		633,246
			Series - 2020 1A (Class A)
			TOTAL ASSET BACKED							11,367,007
OTHER MORTGAGE BACKED - 9.3%
	250,000	g,i	Alen Mortgage Trust	LIBOR 1 M + 1.650%		2.047		04/15/34		244,123
			Series - 2021 ACEN (Class B)
	100,000	g	BBCMS Trust			4.498		08/10/35		101,661
			Series - 2015 SRCH (Class B)
	250,000	g,i	Cityline Commercial Mortgage Trust			2.778		11/10/31		247,574
			Series - 2016 CLNE (Class A)
	500,000	g	COMM Mortgage Trust			3.178		02/10/35		491,316
			Series - 2015 3BP (Class A)
	100,000	g	COMM Mortgage Trust			3.376		01/10/39		96,644
			Series - 2022 HC (Class C)
	500,000	g	CPT Mortgage Trust			2.865		11/13/39		471,818
			Series - 2019 CPT (Class A)
	500,000	g,i	DBUBS Mortgage Trust			3.530		10/10/34		481,541
			Series - 2017 BRBK (Class D)
	210,000	g,i	GCT Commercial Mortgage Trust	LIBOR 1 M + 0.800%		1.197		02/15/38		206,425
			Series - 2021 GCT (Class A)
	1,102,000	g,i	GS Mortgage Securities Corp II			4.577		03/10/33		1,113,008
			Series - 2018 GS10 (Class WLSA)
	345,000	g,i	Hudson Yards Mortgage Trust			3.443		07/10/39		318,318
			Series - 2019 30HY (Class E)
	1,255,000	g,i	J.P. Morgan Chase Commercial Mortgage Securities Trust	LIBOR 1 M + 1.370%		1.767		10/15/33		1,232,909
			Series - 2020 609M (Class A)
	1,000,000	g,i	J.P. Morgan Chase Commercial Mortgage Securities Trust	LIBOR 1 M + 1.770%		2.167		10/15/33		972,348
			Series - 2020 609M (Class B)
	167,795	g	JP Morgan Chase Commercial Mortgage Securities Trust			3.093		07/05/32		167,788
			Series - 2012 HSBC (Class A)
	1,000,000	g	Manhattan West Mortgage Trust			2.130		09/10/39		924,286
			Series - 2020 1MW (Class A)
	250,000	g,i	MFT Trust			3.283		08/10/40		210,542
			Series - 2020 B6 (Class B)

309

TIAA-CREF FUNDS - Green Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	250,000	g,i	Morgan Stanley Capital I Trust			2.428	%	04/05/42	$	216,625
			Series - 2020 CNP (Class C)
	350,586	g,i	Natixis Commercial Mortgage Securities Trust	LIBOR 1 M + 1.500%		1.897		07/15/36		348,796
			Series - 2019 MILE (Class A)
	500,000	g,i	Natixis Commercial Mortgage Securities Trust	LIBOR 1 M + 2.750%		3.147		07/15/36		495,514
			Series - 2019 MILE (Class D)
	250,000	g,i	Natixis Commercial Mortgage Securities Trust	LIBOR 1 M + 4.250%		4.647		07/15/36		241,279
			Series - 2019 MILE (Class F)
	11,470,000	g,i	NYC Commercial Mortgage Trust			0.226		04/10/43		221,193
			Series - 2021 909 (Class X)
	500,000	g	One Bryant Park Trust			2.516		09/15/54		462,440
			Series - 2019 OBP (Class A)
	400,000	g,i	STWD Mortgage Trust	LIBOR 1 M + 2.305%		2.702		11/15/36		389,836
			Series - 2021 LIH (Class D)
	100,000	g,i	VNDO Trust			3.903		01/10/35		93,750
			Series - 2016 350P (Class D)
			TOTAL OTHER MORTGAGE BACKED							9,749,734
			TOTAL STRUCTURED ASSETS							21,116,741
			(Cost $21,761,561)
			TOTAL BONDS							96,244,242
			(Cost $99,646,941)

SHARES			COMPANY
PREFERRED STOCKS - 1.1%
REAL ESTATE - 0.4%
	10,000		Brookfield Property Partners LP			205,600
	10,000		Brookfield Property Partners LP			210,800
			TOTAL REAL ESTATE			416,400
UTILITIES - 0.7%
	20,000		Brookfield Infrastructure Partners LP			411,400
	16,000		Brookfield Renewable Partners LP			362,560
			TOTAL UTILITIES			773,960
			TOTAL PREFERRED STOCKS			1,190,360
			(Cost $1,400,000)
PRINCIPAL			ISSUER
SHORT-TERM INVESTMENTS - 9.4%
REPURCHASE AGREEMENT - 9.1%
$	9,530,000	r	Fixed Income Clearing Corp (FICC)	0.250	04/01/22	9,530,000
			TOTAL REPURCHASE AGREEMENT			9,530,000

310

TIAA-CREF FUNDS - Green Bond Fund

SHARES			COMPANY	RATE			VALUE
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 0.3%
	259,024	c	State Street Navigator Securities Lending Government Money Market Portfolio		0.290	%	$	259,024
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES					259,024
			TOTAL SHORT-TERM INVESTMENTS					9,789,024
			(Cost $9,789,024)
			TOTAL INVESTMENTS - 103.6%					108,193,515
			(Cost $111,813,959)
			OTHER ASSETS & LIABILITIES, NET - (3.6)%					(3,750,006	)
			NET ASSETS - 100.0%				$	104,443,509

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 $255,487.
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 3/31/22, the aggregate value of these securities is $39,628,691 or 37.9% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.
i	Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.
r	Agreement with Fixed Income Clearing Corp (FICC), 0.250% dated 3/31/22 to be repurchased at $9,530,000 on 4/1/22, collateralized by Government Agency Securities, with coupon rate 2.375% and maturity date 3/31/29, valued at $9,720,638.

311

TIAA-CREF FUNDS - High-Yield Fund

TIAA-CREF FUNDS

HIGH-YIELD FUND

SCHEDULE OF INVESTMENTS

March 31, 2022

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
BANK LOAN OBLIGATIONS - 8.1%
AUTOMOBILES & COMPONENTS - 0.0%
$	36,000	i,h	Truck Hero, Inc	LIBOR 1M + 3.250%		4.000	%	01/31/28	$	34,830
			TOTAL AUTOMOBILES & COMPONENTS							34,830
CAPITAL GOODS - 0.0%
	12,727	i	Vertiv Group Corp	LIBOR 1 M + 2.750%		2.991		03/02/27		12,392
			TOTAL CAPITAL GOODS							12,392
COMMERCIAL & PROFESSIONAL SERVICES - 1.4%
	13,894,946	i	Intrado Corp	LIBOR 3M + 4.000%		5.000		10/10/24		12,655,517
	11,246,000	i	PECF USS Intermediate Holding III Corp	LIBOR 3M + 4.250%		4.758		12/15/28		11,125,555
	19,477,813	i	Spin Holdco, Inc	LIBOR 3M + 4.000%		4.750		03/04/28		19,304,655
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES							43,085,727
CONSUMER SERVICES - 0.3%
	9,883,641	i	ClubCorp Holdings, Inc	LIBOR 3M + 2.750%		3.756		09/18/24		9,358,622
			TOTAL CONSUMER SERVICES							9,358,622
DIVERSIFIED FINANCIALS - 0.4%
	14,349,038	i	Astra Acquisition Corp	LIBOR 1M + 5.250%		5.750		10/25/28		13,900,630
			TOTAL DIVERSIFIED FINANCIALS							13,900,630
ENERGY - 0.1%
	3,969,375	i	ChampionX Holding, Inc	LIBOR 3M + 5.000%		6.000		06/03/27		3,976,004
			TOTAL ENERGY							3,976,004
FOOD, BEVERAGE & TOBACCO - 0.6%
	8,027,750	i	Chobani LLC	LIBOR 1M + 3.500%		4.500		10/20/27		7,877,230
	9,511,296	i	Triton Water Holdings, Inc	LIBOR 3M + 3.500%		4.506		03/31/28		9,261,624
			TOTAL FOOD, BEVERAGE & TOBACCO							17,138,854
HEALTH CARE EQUIPMENT & SERVICES - 1.2%
	20,996,334	i	Surgery Center Holdings, Inc	LIBOR 1M + 3.750%		4.500		09/03/26		20,810,097
	15,647,492	i	Verscend Holding Corp	LIBOR 1M + 4.000%		4.457		08/27/25		15,569,254
			TOTAL HEALTH CARE EQUIPMENT & SERVICES							36,379,351
HOUSEHOLD & PERSONAL PRODUCTS - 0.2%
	7,425,000	i	Kronos Acquisition Holdings, Inc	LIBOR 3M + 3.750%		4.250		12/22/26		6,899,087
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS							6,899,087
MATERIALS - 0.3%
	9,411,778	i	Sylvamo Corp	LIBOR 1M + 4.500%		5.000		08/20/28		9,176,483
			TOTAL MATERIALS							9,176,483

312

TIAA-CREF FUNDS - High-Yield Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
MEDIA & ENTERTAINMENT - 0.4%
$	9,896,579	i	Abe Investment Holdings	LIBOR 3M + 4.500%		5.063	%	02/19/26	$	9,816,219
	1,606,002	i	Diamond Sports Group LLC	SOFR 1M + 8.000%		9.000		05/25/26		1,626,302
			TOTAL MEDIA & ENTERTAINMENT							11,442,521
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.6%
	4,571,429	h,i	Bausch Health Cos, Inc	LIBOR 1 M + 5.250%		5.750		01/27/27		4,520,000
	14,857,600	i	Jazz Financing Lux Sarl	LIBOR 1M + 3.500%		4.000		05/05/28		14,788,958
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES							19,308,958
RETAILING - 0.6%
	10,646,475	i	Jo-Ann Stores LLC	LIBOR 3M + 4.750%		5.500		07/07/28		9,239,650
	9,603,438	i	Staples, Inc	LIBOR 3M + 5.000%		5.317		04/16/26		9,056,234
			TOTAL RETAILING							18,295,884
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.2%
	11,999,858	h,i	Bright Bidco BV	LIBOR 3M + 3.500%		4.774		06/30/24		7,152,396
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT							7,152,396
SOFTWARE & SERVICES - 1.4%
	19,822,047	i	Finastra USA, Inc	LIBOR 3M + 3.500%		4.500		06/13/24		19,547,313
	9,900,000	i	Greeneden US Holdings II LLC	LIBOR 1M + 4.000%		4.750		12/01/27		9,875,250
	14,858	i	Rackspace Technology Global, Inc	LIBOR 3M + 2.750%		3.500		02/03/28		14,556
	14,917,350	i	Rocket Software, Inc	LIBOR 1M + 4.250%		4.750		11/28/25		14,693,589
			TOTAL SOFTWARE & SERVICES							44,130,708
TRANSPORTATION - 0.4%
	12,785,000	i	Air Canada	LIBOR 3M + 3.500%		4.250		08/11/28		12,651,780
			TOTAL TRANSPORTATION							12,651,780
			TOTAL BANK LOAN OBLIGATIONS							252,944,227
			(Cost $258,466,797)
BONDS - 85.5%
CORPORATE BONDS - 85.5%
AUTOMOBILES & COMPONENTS - 3.4%
	12,450,000	g	Adient Global Holdings Ltd			4.875		08/15/26		11,848,790
	6,695,000		Dana, Inc			5.375		11/15/27		6,653,156
	11,470,000		Dana, Inc			4.500		02/15/32		10,265,650
	5,825,000		Ford Motor Co			9.625		04/22/30		7,585,927
	22,075,000	g	Gates Global LLC			6.250		01/15/26		22,095,640
	6,815,000	g	Goodyear Tire & Rubber Co			5.000		07/15/29		6,348,581
	15,000,000	e	Goodyear Tire & Rubber Co			5.250		04/30/31		14,043,975
	4,540,000	g	Goodyear Tire & Rubber Co			5.250		07/15/31		4,198,138
	5,000,000		Goodyear Tire & Rubber Co			5.625		04/30/33		4,600,000
	1,100,000	g,o	IHO Verwaltungs GmbH			4.750		09/15/26		1,078,000
	19,800,000	g,o	IHO Verwaltungs GmbH			6.375		05/15/29		19,503,000
			TOTAL AUTOMOBILES & COMPONENTS							108,220,857
CAPITAL GOODS - 1.4%
	9,519,000	g	H&E Equipment Services, Inc			3.875		12/15/28		8,924,062
	8,950,000	g	Rolls-Royce plc			5.750		10/15/27		9,186,280
	12,250,000		TransDigm UK Holdings plc			6.875		05/15/26		12,475,400
	4,000,000		TransDigm, Inc			7.500		03/15/27		4,120,000

313

TIAA-CREF FUNDS - High-Yield Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	7,560,000	g	WESCO Distribution, Inc		7.250	%	06/15/28	$	8,029,741
			TOTAL CAPITAL GOODS						42,735,483
COMMERCIAL & PROFESSIONAL SERVICES - 7.3%
	5,245,000	g	ADT Corp		4.875		07/15/32		4,825,400
	13,105,000	g	ADT Security Corp		4.125		08/01/29		12,171,269
	13,945,000	g	Albion Financing SARL		6.125		10/15/26		13,456,925
	27,345,000	g	Albion Financing 2SARL		8.750		04/15/27		26,325,031
	11,100,000	g	Allied Universal Holdco LLC		6.625		07/15/26		11,231,313
	26,000,000	g	Allied Universal Holdco LLC		4.625		06/01/28		24,567,400
	8,785,000	g	ASGN, Inc		4.625		05/15/28		8,561,425
	21,600,000	g	Garda World Security Corp		4.625		02/15/27		20,702,520
	1,960,000	g	GFL Environmental, Inc		5.125		12/15/26		1,976,660
	6,500,000	g	GFL Environmental, Inc		4.750		06/15/29		6,183,125
	10,000,000	e,g	Pitney Bowes, Inc		6.875		03/15/27		9,458,200
	15,000,000	e,g	Pitney Bowes, Inc		7.250		03/15/29		14,149,050
	20,075,000	g	Prime Security Services Borrower LLC		5.750		04/15/26		20,480,013
	5,325,000	g	Prime Security Services Borrower LLC		3.375		08/31/27		4,871,789
	23,100,000	g	Prime Security Services Borrower LLC		6.250		01/15/28		22,605,545
	6,750,000	g	Science Applications International Corp		4.875		04/01/28		6,651,045
	19,618,000	g	WASH Multifamily Acquisition, Inc		5.750		04/15/26		19,667,045
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES						227,883,755
CONSUMER DURABLES & APPAREL - 0.3%
	8,880,000	g	Wolverine World Wide, Inc		4.000		08/15/29		7,881,000
			TOTAL CONSUMER DURABLES & APPAREL						7,881,000
CONSUMER SERVICES - 3.5%
	11,845,000	g	Carnival Corp		4.000		08/01/28		11,015,850
	20,995,000	g,h	CDI Escrow Issuer, Inc		5.750		04/01/30		21,204,950
	7,840,000	g	Constellation Merger Sub, Inc		8.500		09/15/25		7,350,000
	11,140,000	g	Fertitta Entertainment LLC		4.625		01/15/29		10,555,150
	9,135,000	g	Hilton Grand Vacations Borrower Escrow LLC		5.000		06/01/29		8,717,485
	3,880,000	g	International Game Technology plc		4.125		04/15/26		3,831,500
	4,650,000	g	International Game Technology plc		6.250		01/15/27		4,898,542
	2,025,000	g	International Game Technology plc		5.250		01/15/29		2,019,937
	16,300,000	g	Life Time, Inc		5.750		01/15/26		16,283,537
	11,425,000	g	Live Nation Entertainment, Inc		6.500		05/15/27		12,167,854
	2,715,000	g	Marriott Ownership Resorts, Inc		4.500		06/15/29		2,558,888
	10,000,000	g	Penn National Gaming, Inc		5.625		01/15/27		9,908,300
			TOTAL CONSUMER SERVICES						110,511,993
DIVERSIFIED FINANCIALS - 6.0%
	23,335,000		Ford Motor Credit Co LLC		2.300		02/10/25		22,149,990
	10,000,000		Ford Motor Credit Co LLC		3.375		11/13/25		9,774,450
	13,035,000		Ford Motor Credit Co LLC		4.950		05/28/27		13,253,988
	10,000,000		Ford Motor Credit Co LLC		5.113		05/03/29		10,059,300
	9,700,000		Icahn Enterprises LP		5.250		05/15/27		9,519,822
	15,375,000		Icahn Enterprises LP		4.375		02/01/29		14,106,563
	11,335,000	g	LCM Investments Holdings II LLC		4.875		05/01/29		10,705,680
	4,600,000	e,g	LPL Holdings, Inc		4.625		11/15/27		4,518,166
	11,800,000	g	LPL Holdings, Inc		4.375		05/15/31		11,409,951
	8,000,000		Navient Corp		6.125		03/25/24		8,140,000
	5,000,000		Navient Corp		6.750		06/25/25		5,136,625
	4,000,000		Navient Corp		5.000		03/15/27		3,810,000

314

TIAA-CREF FUNDS - High-Yield Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	10,000,000		Navient Corp		4.875	%	03/15/28	$	9,196,575
	5,330,000		Navient Corp		5.500		03/15/29		4,963,563
	13,465,000		OneMain Finance Corp		3.500		01/15/27		12,455,125
	15,650,000		OneMain Finance Corp		4.000		09/15/30		13,811,125
	5,000,000	g	Rocket Mortgage LLC		2.875		10/15/26		4,590,725
	10,000,000	g	Rocket Mortgage LLC		3.875		03/01/31		9,050,000
	10,960,000		Springleaf Finance Corp		5.375		11/15/29		10,648,407
			TOTAL DIVERSIFIED FINANCIALS						187,300,055
ENERGY - 15.8%
	8,375,000		AmeriGas Partners LP		5.875		08/20/26		8,349,372
	5,900,000	g	Antero Midstream Partners LP		7.875		05/15/26		6,384,508
	13,075,000	g	Antero Midstream Partners LP		5.750		03/01/27		13,315,449
	4,245,000	g	Antero Resources Corp		8.375		07/15/26		4,680,112
	10,000,000		Apache Corp		5.100		09/01/40		10,075,000
	9,550,000	g	Archrock Partners LP		6.875		04/01/27		9,657,151
	11,681,000	g	Archrock Partners LP		6.250		04/01/28		11,512,677
	5,200,000	g	Ascent Resources Utica Holdings LLC		7.000		11/01/26		5,332,548
	6,000,000	g	Calumet Specialty Products Partners LP		11.000		04/15/25		6,222,150
	4,170,000	g	Calumet Specialty Products Partners LP		8.125		01/15/27		3,878,100
	9,000,000		Cheniere Energy, Inc		4.625		10/15/28		9,030,150
	1,335,279	†,o	Cloud Peak Energy, Inc		12.000		05/01/25		1,166,994
	5,700,000	g	Crestwood Midstream Partners LP		5.625		05/01/27		5,647,788
	11,800,000	g	Crestwood Midstream Partners LP		6.000		02/01/29		11,755,750
	11,775,000	g	DT Midstream, Inc		4.125		06/15/29		11,289,929
	2,975,000	g	DT Midstream, Inc		4.375		06/15/31		2,848,562
	2,932,000	g	Energean Israel Finance Ltd		4.500		03/30/24		2,901,166
	1,630,000	g	Energean Israel Finance Ltd		4.875		03/30/26		1,572,852
	1,630,000	g	Energean Israel Finance Ltd		5.375		03/30/28		1,569,945
	5,079,000	g	Energean Israel Finance Ltd		5.875		03/30/31		4,844,941
	10,000,000		Energy Transfer LP		6.500		N/A‡		9,828,002
	1,569,000	g	EnLink Midstream LLC		5.625		01/15/28		1,600,380
	5,210,000		EnLink Midstream LLC		5.375		06/01/29		5,196,975
	3,168,000		EnLink Midstream Partners LP		4.150		06/01/25		3,157,007
	5,000,000		EnLink Midstream Partners LP		4.850		07/15/26		5,000,000
	4,400,000	g	EQM Midstream Partners LP		6.000		07/01/25		4,488,198
	7,200,000	g	EQM Midstream Partners LP		6.500		07/01/27		7,520,688
	4,250,000	g	EQM Midstream Partners LP		4.500		01/15/29		3,973,750
	5,125,000	g	EQM Midstream Partners LP		4.750		01/15/31		4,791,875
	20,285,000	g	Ferrellgas Escrow LLC		5.375		04/01/26		19,154,314
	22,178,000	g	Ferrellgas Escrow LLC		5.875		04/01/29		20,469,629
	9,400,000		Genesis Energy LP		6.500		10/01/25		9,271,220
	15,000,000		Genesis Energy LP		6.250		05/15/26		14,524,500
	13,825,000	g	Hess Midstream Operations LP		5.625		02/15/26		14,183,759
	6,340,000	g	Hilcorp Energy I LP		5.750		02/01/29		6,343,804
	6,166,000	g	Hilcorp Energy I LP		6.000		02/01/31		6,181,415
	15,000,000		Laredo Petroleum, Inc		9.500		01/15/25		15,639,825
	8,000,000		Matador Resources Co		5.875		09/15/26		8,146,400
	8,750,000	g	Moss Creek Resources Holdings, Inc		10.500		05/15/27		8,577,450
	13,482,000		Murphy Oil Corp		5.875		12/01/27		13,717,935
	19,075,000	g	New Fortress Energy, Inc		6.500		09/30/26		18,898,938
	8,750,000	g	NGL Energy Operating LLC		7.500		02/01/26		8,607,287
	2,275,000		NuStar Logistics LP		6.375		10/01/30		2,305,803
	310,000		Occidental Petroleum Corp		3.000		02/15/27		303,025
	10,000,000		Occidental Petroleum Corp		8.500		07/15/27		11,837,190

315

TIAA-CREF FUNDS - High-Yield Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	17,875,000		Occidental Petroleum Corp		6.375	%	09/01/28	$	20,131,719
	4,700,000		Occidental Petroleum Corp		3.500		08/15/29		4,629,500
	11,800,000		Occidental Petroleum Corp		8.875		07/15/30		15,133,500
	700,000		Occidental Petroleum Corp		6.125		01/01/31		787,500
	10,000,000		Occidental Petroleum Corp		6.450		09/15/36		11,746,850
	336,000		Occidental Petroleum Corp		6.200		03/15/40		372,960
	3,000,000		Occidental Petroleum Corp		4.500		07/15/44		2,866,905
	516,000		Occidental Petroleum Corp		6.600		03/15/46		606,300
	1,479,000		Occidental Petroleum Corp		4.400		04/15/46		1,405,050
	1,364,000		Occidental Petroleum Corp		4.200		03/15/48		1,275,340
	678,000		Occidental Petroleum Corp		4.400		08/15/49		637,320
	6,658,000	g	Parkland Corp		4.500		10/01/29		6,172,931
	9,440,000	g	Parkland Corp		4.625		05/01/30		8,779,200
	6,665,000	e,g	Range Resources Corp		4.750		02/15/30		6,619,545
	5,900,000	e	SM Energy Co		6.750		09/15/26		6,066,823
	7,500,000	e	SM Energy Co		6.625		01/15/27		7,688,700
	1,200,000		SM Energy Co		6.500		07/15/28		1,238,316
	8,175,000		Suburban Propane Partners LP		5.875		03/01/27		8,287,406
	1,800,000	g	Suburban Propane Partners LP		5.000		06/01/31		1,687,500
	4,527,000		Sunoco LP		4.500		05/15/29		4,270,930
	18,000,000		USA Compression Partners LP		6.875		04/01/26		18,162,000
	2,650,000		USA Compression Partners LP		6.875		09/01/27		2,660,176
	8,575,000		Western Midstream Operating LP		5.300		02/01/30		8,532,125
			TOTAL ENERGY						495,513,109
FOOD & STAPLES RETAILING - 0.8%
	10,665,000	g	Performance Food Group, Inc		4.250		08/01/29		9,718,481
	14,665,000	h	Yum! Brands, Inc		5.375		04/01/32		14,698,143
			TOTAL FOOD & STAPLES RETAILING						24,416,624
FOOD, BEVERAGE & TOBACCO - 1.5%
	13,325,000	g	Chobani LLC		4.625		11/15/28		12,292,312
	10,284,000	g	Post Holdings, Inc		4.625		04/15/30		9,260,228
	19,950,000	g	Primo Water Holdings, Inc		4.375		04/30/29		18,056,745
	10,000,000	g	Triton Water Holdings, Inc		6.250		04/01/29		8,525,900
			TOTAL FOOD, BEVERAGE & TOBACCO						48,135,185
HEALTH CARE EQUIPMENT & SERVICES - 5.8%
	2,500,000	g	CHS/Community Health Systems, Inc		8.000		03/15/26		2,603,550
	2,275,000	g	CHS/Community Health Systems, Inc		5.625		03/15/27		2,316,940
	3,850,000	g	CHS/Community Health Systems, Inc		8.000		12/15/27		4,082,501
	11,675,000	g	CHS/Community Health Systems, Inc		6.875		04/15/29		11,470,687
	7,725,000	g	CHS/Community Health Systems, Inc		6.125		04/01/30		7,187,881
	11,215,000	g	CHS/Community Health Systems, Inc		5.250		05/15/30		10,764,045
	12,815,000	g	DaVita, Inc		4.625		06/01/30		11,966,647
	8,100,000		Encompass Health Corp		4.500		02/01/28		7,938,000
	15,000,000	g	Global Medical Response, Inc		6.500		10/01/25		14,887,500
	15,000,000	g	LifePoint Health, Inc		4.375		02/15/27		14,491,425
	14,475,000	g	LifePoint Health, Inc		5.375		01/15/29		13,677,174
	14,250,000	g	MPH Acquisition Holdings LLC		5.500		09/01/28		13,660,264
	6,895,000	g	Owens & Minor, Inc		6.625		04/01/30		7,095,024
	7,500,000	g	Tenet Healthcare Corp		4.625		06/15/28		7,359,375
	12,050,000	g	Tenet Healthcare Corp		6.125		10/01/28		12,245,813
	10,000,000	g	Tenet Healthcare Corp		4.250		06/01/29		9,587,500
	33,000,000	g	Tenet Healthcare Corp		4.375		01/15/30		31,677,690
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						183,012,016

316

TIAA-CREF FUNDS - High-Yield Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
HOUSEHOLD & PERSONAL PRODUCTS - 1.3%
$	9,447,000	g	Compass Group Diversified Holdings LLC		5.250	%	04/15/29	$	8,880,180
	10,000,000	g	Compass Group Diversified Holdings LLC		5.000		01/15/32		9,050,000
	16,700,000	g	Coty, Inc		5.000		04/15/26		16,261,625
	7,950,000	e,g	Kronos Acquisition Holdings, Inc		7.000		12/31/27		6,717,750
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS						40,909,555
INSURANCE - 1.4%
	18,513,000	g	Acrisure LLC		4.250		02/15/29		16,817,579
	11,725,000	g	Alliant Holdings Intermediate LLC		4.250		10/15/27		11,277,926
	10,085,000	g	AmWINS Group, Inc		4.875		06/30/29		9,681,802
	8,190,000	g	BroadStreet Partners, Inc		5.875		04/15/29		7,637,175
			TOTAL INSURANCE						45,414,482
MATERIALS - 7.1%
	5,000,000	g	Ardagh Metal Packaging Finance USA LLC		3.250		09/01/28		4,537,500
	7,225,000	g	Ardagh Metal Packaging Finance USA LLC		4.000		09/01/29		6,510,809
	3,625,000	g,h	Clydesdale Acquisition Holdings, Inc		6.625		04/15/29		3,665,781
	3,250,000		Commercial Metals Co		4.125		01/15/30		3,034,687
	7,110,000		Commercial Metals Co		4.125		03/15/32		6,603,412
	10,385,000	g	Consolidated Energy Finance S.A.		5.625		10/15/28		9,606,125
	9,325,000	e,g	Constellium SE		3.750		04/15/29		8,369,187
	10,000,000	g	EverArc Escrow Sarl		5.000		10/30/29		9,137,500
	3,000,000	g	First Quantum Minerals Ltd		7.500		04/01/25		3,045,000
	4,750,000	g	First Quantum Minerals Ltd		6.875		03/01/26		4,882,288
	5,000,000	g	First Quantum Minerals Ltd		6.875		10/15/27		5,237,500
	9,250,000	g	James Hardie International Finance DAC		5.000		01/15/28		9,105,793
	8,961,000	g	Joseph T Ryerson & Son, Inc		8.500		08/01/28		9,700,283
	5,000,000	g	LABL, Inc		6.750		07/15/26		4,943,750
	10,500,000	g	LABL, Inc		5.875		11/01/28		9,843,750
	9,606,000	g	OCI NV		4.625		10/15/25		9,678,045
	16,990,000	g	Olympus Water US Holding Corp		4.250		10/01/28		15,430,063
	15,110,000	g	Pactiv Evergreen Group Issuer, Inc		4.375		09/30/28		13,883,219
	14,357,000	g	Rayonier AM Products, Inc		7.625		01/15/26		14,213,430
	6,975,000	g	Standard Industries, Inc		5.000		02/15/27		6,914,178
	15,690,000	g	SunCoke Energy, Inc		4.875		06/30/29		14,792,061
	7,000,000	g	Trinseo Materials Operating S.C.A		5.375		09/01/25		6,921,810
	7,000,000	g	Trinseo Materials Operating S.C.A		5.125		04/01/29		6,459,110
	13,112,000	g	Tronox, Inc		4.625		03/15/29		12,276,110
	12,155,000	g	Unifrax Escrow Issuer Corp		5.250		09/30/28		11,291,205
	3,800,000	g	WR Grace Holdings LLC		4.875		06/15/27		3,718,110
	8,025,000	g	WR Grace Holdings LLC		5.625		08/15/29		7,504,178
			TOTAL MATERIALS						221,304,884
MEDIA & ENTERTAINMENT - 9.2%
	8,860,000	g	Arches Buyer, Inc		4.250		06/01/28		8,265,140
	12,375,000	g	Cablevision Lightpath LLC		3.875		09/15/27		11,570,625
	5,000,000	g	CCO Holdings LLC		5.000		02/01/28		4,947,500
	5,000,000	g	CCO Holdings LLC		5.375		06/01/29		5,000,000
	12,250,000	g	CCO Holdings LLC		4.500		08/15/30		11,494,083
	19,025,000	g	CCO Holdings LLC		4.250		02/01/31		17,265,187
	10,800,000		CCO Holdings LLC		4.500		05/01/32		9,878,760
	8,175,000	g	Cinemark USA, Inc		8.750		05/01/25		8,553,094
	11,115,000	e,g	Cinemark USA, Inc		5.250		07/15/28		10,380,076
	10,850,000	g	CSC Holdings LLC		5.500		04/15/27		10,755,062
	6,725,000	g	CSC Holdings LLC		5.750		01/15/30		5,985,250

317

TIAA-CREF FUNDS - High-Yield Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	15,000,000	g	CSC Holdings LLC		4.125	%	12/01/30	$	13,152,975
	4,400,000	g	CSC Holdings LLC		3.375		02/15/31		3,707,000
	8,175,000	g	Diamond Sports Group LLC		5.375		08/15/26		3,167,812
	15,900,000	g	DIRECTV Holdings LLC		5.875		08/15/27		15,641,625
	9,400,000	e	DISH DBS Corp		7.375		07/01/28		8,906,500
	10,125,000		DISH DBS Corp		5.125		06/01/29		8,622,349
	7,725,000	g	Gray Escrow, Inc		5.375		11/15/31		7,386,761
	6,900,000	g	Gray Television, Inc		4.750		10/15/30		6,408,375
	9,375,000		Lamar Media Corp		4.875		01/15/29		9,304,687
	14,650,000	g	LCPR Senior Secured Financing DAC		5.125		07/15/29		13,986,282
	6,117,000	g	News Corp		3.875		05/15/29		5,780,565
	790,000	g	News Corp		5.125		02/15/32		794,203
	7,100,000	g	Sirius XM Radio, Inc		3.125		09/01/26		6,712,858
	5,450,000	g	Sirius XM Radio, Inc		4.000		07/15/28		5,177,500
	12,425,000		TEGNA, Inc		4.625		03/15/28		12,359,396
	17,575,000	g	Univision Communications, Inc		4.500		05/01/29		16,729,379
	10,000,000	g	UPC Broadband Finco BV		4.875		07/15/31		9,388,700
	9,325,000	g	Virgin Media Secured Finance plc		5.500		05/15/29		9,255,063
	30,400,000	g	VZ Secured Financing BV		5.000		01/15/32		28,424,000
			TOTAL MEDIA & ENTERTAINMENT						289,000,807
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 4.7%
	10,795,000	g	Avantor Funding, Inc		4.625		07/15/28		10,676,255
	15,000,000	g	Bausch Health Cos, Inc		5.000		01/30/28		12,353,550
	9,350,000	g	Bausch Health Cos, Inc		4.875		06/01/28		8,952,625
	10,000,000	g	Bausch Health Cos, Inc		5.250		01/30/30		7,855,400
	5,000,000	g	Embecta Corp		5.000		02/15/30		4,716,025
	6,605,000	g,h	Embecta Corp		6.750		02/15/30		6,621,513
	15,125,000	e,g	Emergent BioSolutions, Inc		3.875		08/15/28		13,568,487
	9,952,000	g	Endo Luxembourg Finance Co I Sarl		6.125		04/01/29		9,081,200
	15,725,000	g	Organon Finance LLC		4.125		04/30/28		14,981,286
	23,650,000	g	Organon Finance LLC		5.125		04/30/31		22,822,250
	8,000,000	g	Par Pharmaceutical, Inc		7.500		04/01/27		7,465,200
	10,215,000		Teva Pharmaceutical Finance Netherlands III BV		4.750		05/09/27		9,805,889
	5,000,000		Teva Pharmaceutical Finance Netherlands III BV		5.125		05/09/29		4,806,100
	4,750,000	g	Valeant Pharmaceuticals International, Inc		9.000		12/15/25		4,921,356
	4,750,000	g	Valeant Pharmaceuticals International, Inc		9.250		04/01/26		4,864,760
	5,235,000	g	VRX Escrow Corp		6.125		04/15/25		5,280,806
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						148,772,702
REAL ESTATE - 3.2%
	8,925,000	g	Cushman & Wakefield US Borrower LLC		6.750		05/15/28		9,326,625
	14,915,000	g	HAT Holdings I LLC		3.375		06/15/26		14,169,250
	4,776,000	g	Howard Hughes Corp		4.125		02/01/29		4,481,130
	5,099,000	g	Howard Hughes Corp		4.375		02/01/31		4,793,060
	12,000,000	g	Hunt Cos, Inc		5.250		04/15/29		11,431,800
	13,425,000	g	Iron Mountain, Inc		4.875		09/15/27		13,273,969
	8,472,000		Kennedy-Wilson, Inc		4.750		03/01/29		8,168,109
	11,771,000		Kennedy-Wilson, Inc		5.000		03/01/31		11,300,160
	15,380,000	g	Realogy Group LLC		5.250		04/15/30		14,149,600
	4,495,000	g	RLJ Lodging Trust LP		3.750		07/01/26		4,270,250
	5,265,000	g	RLJ Lodging Trust LP		4.000		09/15/29		4,869,388
			TOTAL REAL ESTATE						100,233,341

318

TIAA-CREF FUNDS - High-Yield Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
RETAILING - 3.2%
$	10,700,000	g	Academy Ltd		6.000	%	11/15/27	$	10,954,981
	10,000,000	g	Asbury Automotive Group, Inc		4.625		11/15/29		9,312,500
	10,000,000	g	Asbury Automotive Group, Inc		5.000		02/15/32		9,295,400
	9,175,000	g	Group 1 Automotive, Inc		4.000		08/15/28		8,544,219
	6,650,000		L Brands, Inc		5.250		02/01/28		6,689,168
	7,250,000	g	L Brands, Inc		6.625		10/01/30		7,612,500
	17,587,000	g	Magic Mergeco, Inc		5.250		05/01/28		16,146,625
	10,000,000	g	Magic Mergeco, Inc		7.875		05/01/29		8,562,500
	15,000,000	g	Staples, Inc		7.500		04/15/26		14,566,575
	9,836,000	g	Superior Plus LP		4.500		03/15/29		9,242,201
			TOTAL RETAILING						100,926,669
SOFTWARE & SERVICES - 2.1%
	3,375,000	g	CA Magnum Holdings		5.375		10/31/26		3,324,375
	6,175,000	g	Clarivate Science Holdings Corp		3.875		07/01/28		5,889,530
	6,810,000	g	Fair Isaac Corp		4.000		06/15/28		6,592,897
	9,672,000	g	j2 Global, Inc		4.625		10/15/30		9,209,920
	4,455,000	g	NCR Corp		5.000		10/01/28		4,265,662
	8,695,000	g	Presidio Holdings, Inc		8.250		02/01/28		8,868,900
	16,108,000	g	Rackspace Technology Global, Inc		3.500		02/15/28		14,410,620
	5,000,000	g	Rocket Software, Inc		6.500		02/15/29		4,537,500
	10,000,000	g	Virtusa Corp		7.125		12/15/28		9,300,000
			TOTAL SOFTWARE & SERVICES						66,399,404
TECHNOLOGY HARDWARE & EQUIPMENT - 2.5%
	20,700,000	g	Ahead DB Holdings LLC		6.625		05/01/28		18,493,794
	9,150,000	g	Diebold Nixdorf, Inc		9.375		07/15/25		9,295,211
	53,520,000	g	Imola Merger Corp		4.750		05/15/29		51,537,619
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						79,326,624
TELECOMMUNICATION SERVICES - 2.6%
	23,000,000	g	Altice France S.A.		5.125		07/15/29		20,613,750
	9,160,000	g	Altice France S.A.		5.500		10/15/29		8,219,085
	15,775,000	g	Avaya, Inc		6.125		09/15/28		15,556,832
	11,125,000	g	Cogent Communications Group, Inc		3.500		05/01/26		10,568,750
	10,000,000	e,g	Frontier Communications Holdings LLC		6.000		01/15/30		9,250,000
	7,695,000	g	Iliad Holding SASU		6.500		10/15/26		7,715,776
	9,175,000	g	Iliad Holding SASU		7.000		10/15/28		9,188,579
			TOTAL TELECOMMUNICATION SERVICES						81,112,772
TRANSPORTATION - 1.1%
	10,000,000	g	American Airlines, Inc		5.500		04/20/26		10,075,000
	11,950,000	g	Cargo Aircraft Management, Inc		4.750		02/01/28		11,664,156
	7,115,000	g	First Student Bidco, Inc		4.000		07/31/29		6,634,880
	3,550,000	g	United Airlines, Inc		4.375		04/15/26		3,492,046
	3,550,000	g	United Airlines, Inc		4.625		04/15/29		3,375,872
			TOTAL TRANSPORTATION						35,241,954
UTILITIES - 1.3%
	7,400,000	g	Clearway Energy Operating LLC		4.750		03/15/28		7,432,042
	10,000,000		Edison International		5.375		N/A‡		9,647,500

319

TIAA-CREF FUNDS - High-Yield Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	10,000,000	g	TerraForm Power Operating LLC		5.000	%	01/31/28	$	9,957,500
	12,480,000	g	TerraForm Power Operating LLC		4.750		01/15/30		12,171,744
			TOTAL UTILITIES						39,208,786
			TOTAL CORPORATE BONDS						2,683,462,057
			(Cost $2,790,436,028)
			TOTAL BONDS						2,683,462,057
			(Cost $2,790,436,028)
SHARES			COMPANY				EXPIRATION DATE
COMMON STOCKS - 0.0%
ENERGY - 0.0%
	7,963	*,†	Cloud Peak Energy, Inc						79
			TOTAL ENERGY						79
			TOTAL COMMON STOCKS						79
			(Cost $0)
RIGHTS/WARRANTS - 0.1%
ENERGY - 0.1%
	1,014,286		Spectacle Bidco Holding, Inc				11/24/25		2,958,165
			TOTAL ENERGY						2,958,165
			TOTAL RIGHTS/WARRANTS						2,958,165
			(Cost $10,582,142)
PRINCIPAL			ISSUER				MATURITY DATE
SHORT-TERM INVESTMENTS - 7.2%
GOVERNMENT AGENCY DEBT - 4.0%
$	5,000,000		Federal Agricultural Mortgage Corp (FAMC)		0.000		05/03/22		4,999,111
	17,379,000		Federal Farm Credit Bank (FFCB)		0.000		04/29/22		17,376,704
	20,000,000		Federal Home Loan Bank (FHLB)		0.000		04/01/22		20,000,000
	10,000,000		FHLB		0.000		04/08/22		9,999,670
	10,000,000		FHLB		0.000		04/25/22		9,998,868
	10,000,000		FHLB		0.000		04/27/22		9,998,773
	15,000,000		FHLB		0.000		05/04/22		14,994,238
	10,000,000		FHLB		0.000		05/06/22		9,995,926
	10,000,000		FHLB		0.000		05/18/22		9,994,530
	20,000,000		FHLB		0.000		05/24/22		19,987,663
			TOTAL GOVERNMENT AGENCY DEBT						127,345,483

320

TIAA-CREF FUNDS - High-Yield Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
REPURCHASE AGREEMENT - 1.6%
$	48,950,000	r	Fixed Income Clearing Corp (FICC)		0.250	%	04/01/22	$	48,950,000
			TOTAL REPURCHASE AGREEMENT						48,950,000
TREASURY DEBT - 0.3%
	10,000,000		United States Cash Management Bill		0.000		04/19/22		9,999,306
			TOTAL TREASURY DEBT						9,999,306
SHARES			COMPANY
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 1.3%
	41,688,554	c	State Street Navigator Securities Lending Government Money Market Portfolio		0.290				41,688,554
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES						41,688,554
			TOTAL SHORT-TERM INVESTMENTS						227,983,343
			(Cost $227,991,871)
			TOTAL INVESTMENTS - 100.9%						3,167,347,871
			(Cost $3,287,476,838)
			OTHER ASSETS & LIABILITIES, NET - (0.9)%						(29,434,885	)
			NET ASSETS - 100.0%					$	3,137,912,986

LIBOR	London Interbank Offered Rate
M	Month
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 $50,045,221.
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 3/31/22, the aggregate value of these securities is $2,100,880,738 or 67.0% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.
i	Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.
o	Payment in Kind Bond
r	Agreement with Fixed Income Clearing Corp (FICC), 0.250% dated 3/31/22 to be repurchased at $48,950,000 on 4/1/22, collateralized by Government Agency Securities, with coupon rate 2.375% and maturity date 3/31/29, valued at $49,929,008.

321

TIAA-CREF FUNDS - Inflation-Linked Bond Fund

TIAA-CREF FUNDS

INFLATION-LINKED BOND FUND

SCHEDULE OF INVESTMENTS  

March 31, 2022

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
BONDS - 98.9%
CORPORATE BONDS - 0.1%
TRANSPORTATION - 0.1%
$	5,000,000	g	Grupo Aeromexico SAB de C.V.		8.500	%	03/17/27	$	5,023,250
			TOTAL TRANSPORTATION						5,023,250
			TOTAL CORPORATE BONDS						5,023,250
			(Cost $5,000,000)
GOVERNMENT BONDS - 98.8%
AGENCY SECURITIES - 0.4%
	1,498,891		HNA LLC		2.369		09/18/27		1,472,135
	8,270,000		Montefiore Medical Center		2.895		04/20/32		7,921,379
	2,631,579		Reliance Industries Ltd		2.444		01/15/26		2,612,572
			TOTAL AGENCY SECURITIES						12,006,086
MORTGAGE BACKED - 2.0%
	9,814,621		Government National Mortgage Association (GNMA)		3.600		09/15/31		9,932,495
	5,040,652		GNMA		3.700		10/15/33		5,091,459
	1,473,991		GNMA		3.380		07/15/35		1,476,995
	1,403,758		GNMA		3.870		10/15/36		1,427,134
	5,101,252		GNMA		3.940		03/15/37		5,198,821
	18,748,516		GNMA		1.730		07/15/37		17,898,528
	13,336,149		GNMA		1.650		07/15/42		12,631,532
	13,155,970		GNMA		2.750		01/15/45		13,315,253
			TOTAL MORTGAGE BACKED						66,972,217
U.S. TREASURY SECURITIES - 96.4%
	97,515,761	k	United States Treasury Inflation Indexed Bonds		0.625		04/15/23		101,671,608
	132,120,504	k	United States Treasury Inflation Indexed Bonds		0.375		07/15/23		138,680,080
	137,679,695	k	United States Treasury Inflation Indexed Bonds		0.625		01/15/24		144,803,006
	25,653,517	k	United States Treasury Inflation Indexed Bonds		0.500		04/15/24		26,962,247
	160,020,173	d,k	United States Treasury Inflation Indexed Bonds		0.125		07/15/24		167,927,419
	98,365,864	k	United States Treasury Inflation Indexed Bonds		0.125		10/15/24		102,892,231
	131,402,658	k	United States Treasury Inflation Indexed Bonds		0.250		01/15/25		137,795,705
	90,131,502	k	United States Treasury Inflation Indexed Bonds		2.375		01/15/25		100,038,926
	33,785,409	k	United States Treasury Inflation Indexed Bonds		0.125		04/15/25		35,313,671
	136,263,843	k	United States Treasury Inflation Indexed Bonds		0.375		07/15/25		144,101,675
	121,687,579	k	United States Treasury Inflation Indexed Bonds		0.125		10/15/25		127,550,923
	110,176,474	k	United States Treasury Inflation Indexed Bonds		0.625		01/15/26		117,456,299
	56,092,739	k	United States Treasury Inflation Indexed Bonds		2.000		01/15/26		62,850,161
	40,506,904	k	United States Treasury Inflation Indexed Bonds		0.125		04/15/26		42,339,209
	110,942,140	k	United States Treasury Inflation Indexed Bonds		0.125		07/15/26		116,606,257
	143,994,710	k	United States Treasury Inflation Indexed Bonds		0.125		10/15/26		151,357,565
	127,331,956	k	United States Treasury Inflation Indexed Bonds		0.375		01/15/27		134,951,977
	52,653,187	k	United States Treasury Inflation Indexed Bonds		2.375		01/15/27		61,078,725
	102,074,571	k	United States Treasury Inflation Indexed Bonds		0.375		07/15/27		108,715,398
	140,479,974	k	United States Treasury Inflation Indexed Bonds		0.500		01/15/28		150,264,185
	63,815,790	k	United States Treasury Inflation Indexed Bonds		1.750		01/15/28		73,056,615
	43,064,248	k	United States Treasury Inflation Indexed Bonds		3.625		04/15/28		54,542,721
	79,211,191	k	United States Treasury Inflation Indexed Bonds		0.750		07/15/28		86,624,864
	82,065,871	k	United States Treasury Inflation Indexed Bonds		0.875		01/15/29		90,604,248

322

TIAA-CREF FUNDS - Inflation-Linked Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	48,025,408	k	United States Treasury Inflation Indexed Bonds		2.500	%	01/15/29	$	58,498,137
	30,664,204	k	United States Treasury Inflation Indexed Bonds		3.875		04/15/29		40,539,035
	57,655,525	k	United States Treasury Inflation Indexed Bonds		0.250		07/15/29		61,545,021
	64,637,690	k	United States Treasury Inflation Indexed Bonds		0.125		01/15/30		68,225,587
	114,577,368	k	United States Treasury Inflation Indexed Bonds		0.125		07/15/30		121,501,243
	84,218,940	k	United States Treasury Inflation Indexed Bonds		0.125		01/15/31		89,125,680
	126,303,331	k	United States Treasury Inflation Indexed Bonds		0.125		07/15/31		134,323,098
	50,225,612	k	United States Treasury Inflation Indexed Bonds		3.375		04/15/32		70,829,885
	7,773,048	k	United States Treasury Inflation Indexed Bonds		0.125		02/15/51		7,948,852
	13,365,267	k	United States Treasury Inflation Indexed Bonds		0.125		02/15/52		13,842,970
	3,909,019	e,k	United States Treasury Inflation Indexed Bonds		0.125		01/15/32		4,157,073
			TOTAL U.S. TREASURY SECURITIES						3,148,722,296
			TOTAL GOVERNMENT BONDS						3,227,700,599
			(Cost $3,100,548,860)
			TOTAL BONDS						3,232,723,849
			(Cost $3,105,548,860)
SHORT-TERM INVESTMENTS - 0.6%
REPURCHASE AGREEMENT - 0.5%
	14,760,000	r	Fixed Income Clearing Corp (FICC)		0.250		04/01/22		14,760,000
			TOTAL REPURCHASE AGREEMENT						14,760,000
SHARES			COMPANY
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 0.1%
	4,212,962	c	State Street Navigator Securities Lending Government Money Market Portfolio		0.290				4,212,962
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES						4,212,962
			TOTAL SHORT-TERM INVESTMENTS						18,972,962
			(Cost $18,972,962)
			TOTAL INVESTMENTS - 99.5%						3,251,696,811
			(Cost $3,124,521,822)
			OTHER ASSETS & LIABILITIES, NET - 0.5%						16,060,799
			NET ASSETS - 100.0%					$	3,267,757,610
	c		Investments made with cash collateral received from securities on loan.
	d		All or a portion of these securities have been segregated to cover margin requirements on open futures contracts.
	e		All or a portion of these securities are out on loan. The aggregate value of securities on loan is $4,139,733.
	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 3/31/22, the aggregate value of these securities is $5,023,250 or 0.2% of net assets.
	k		Principal amount for interest accrual purposes is periodically adjusted based on changes in the Consumer Price Index.
	r		Agreement with Fixed Income Clearing Corp (FICC), 0.250% dated 3/31/22 to be repurchased at $14,760,000 on 4/1/22, collateralized by Government Agency Securities, with coupon rate 2.375% and maturity date 3/31/29, valued at $15,055,296.

Futures contracts outstanding as of March 31, 2022 were as follows:

Description	Number of long (short) contracts			Expiration date	Notional amount			Value			Unrealized appreciation (depreciation)
US Ultra 30 Year Bond (CBT)		(50	)	06/21/22	$	(9,184,989	)	$	(8,856,250	)	$	328,739

323

TIAA-CREF FUNDS - Short Duration Impact Bond Fund

TIAA-CREF FUNDS

SHORT DURATION IMPACT BOND FUND

SCHEDULE OF INVESTMENTS

March 31, 2022

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE		VALUE
BANK LOAN OBLIGATIONS - 2.5%
COMMERCIAL & PROFESSIONAL SERVICES - 1.3%
$	496,256	i	LTR Intermediate Holdings, Inc	LIBOR  3M + 4.500%	5.500	%	05/05/28	$	486,331
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES						486,331
UTILITIES - 1.2%
	488,748	i	Exgen Renewables IV LLC	LIBOR  3M + 2.500%	3.500		12/15/27		483,558
			TOTAL UTILITIES						483,558
			TOTAL BANK LOAN OBLIGATIONS						969,889
			(Cost $977,994)
BONDS - 94.9%
CORPORATE BONDS - 36.8%
AUTOMOBILES & COMPONENTS - 0.5%
	200,000		Aptiv plc		2.396		02/18/25		194,824
			TOTAL AUTOMOBILES & COMPONENTS						194,824
BANKS - 9.4%
	326,000	i	Banco Santander S.A.	LIBOR 3 M + 1.560%	1.796		04/11/22		326,065
	250,000		Bank of America Corp		0.981		09/25/25		236,952
	250,000	i	Bank of America Corp	SOFR + 0.970%	1.112		07/22/27		248,798
	200,000		Citigroup, Inc		1.281		11/03/25		190,322
	500,000	i	Citigroup, Inc	LIBOR 3 M + 1.250%	2.217		07/01/26		504,905
	250,000		HSBC Holdings plc		3.033		11/22/23		250,623
	250,000		Lloyds Banking Group plc		4.500		11/04/24		255,451
	250,000		National Bank of Canada		0.550		11/15/24		240,532
	250,000		NatWest Group plc		2.359		05/22/24		247,969
	400,000	i	Truist Bank	LIBOR 3 M + 0.590%	1.059		05/17/22		399,774
	300,000	g,i	UBS AG.	SOFR + 0.450%	0.626		08/09/24		298,378
	400,000	g	USAA Capital Corp		1.500		05/01/23		396,274
			TOTAL BANKS						3,596,043
CAPITAL GOODS - 0.7%
	250,000	g,i	Siemens Financieringsmaatschappij NV	SOFR + 0.430%	0.683		03/11/24		249,807
			TOTAL CAPITAL GOODS						249,807
COMMERCIAL & PROFESSIONAL SERVICES - 0.6%
	250,000		International Bank for Reconstruction & Development		0.000		03/31/27		235,931
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES						235,931

324

TIAA-CREF FUNDS - Short Duration Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE		VALUE
CONSUMER SERVICES - 2.8%
$	550,000		Nature Conservancy		0.467	%	07/01/23	$	534,688
	260,000	i	Nature Conservancy	LIBOR 3 M + 1.080%	1.397		02/01/24		259,999
	300,000		Nature Conservancy		2.668		03/01/26		294,421
			TOTAL CONSUMER SERVICES						1,089,108
DIVERSIFIED FINANCIALS - 9.7%
	200,000	i	AerCap Ireland Capital DAC	SOFR + 0.680%	0.951		09/29/23		198,049
	202,000	g,i	BPCE S.A.	LIBOR 3 M + 1.220%	1.700		05/22/22		202,187
	395,000		Federation des Caisses Desjardins du Quebec		0.450		10/07/23		383,229
	250,000		Goldman Sachs Group, Inc		0.855		02/12/26		232,906
	500,000		Kreditanstalt fuer Wiederaufbau		2.000		09/29/22		502,073
	500,000		Morgan Stanley		0.791		01/22/25		479,984
	260,000	g	NongHyup Bank		1.250		07/20/25		244,442
	250,000		Reinvestment Fund, Inc		3.477		02/15/23		250,543
	250,000	g,i	Societe Generale S.A.	SOFR + 1.050%	1.178		01/21/26		246,742
	250,000		Unilever Capital Corp		0.626		08/12/24		239,281
	250,000	g	WLB Asset II B Pte Ltd		3.950		12/10/24		242,350
	250,000	g	WLB Asset II C Pte Ltd		3.900		12/23/25		239,972
	250,000	g	WLB Asset II Pte Ltd		4.000		01/14/24		249,930
			TOTAL DIVERSIFIED FINANCIALS						3,711,688
ENERGY - 1.3%
	250,000	g	Aker BP ASA		2.875		01/15/26		243,036
	270,000	e,g	Sunnova Energy Corp		5.875		09/01/26		258,357
			TOTAL ENERGY						501,393
INSURANCE - 1.3%
	250,000	g	Five Corners Funding Trust		4.419		11/15/23		255,510
	250,000	g	HCA, Inc		3.125		03/15/27		244,273
			TOTAL INSURANCE						499,783
MATERIALS - 0.6%
	250,000		Sonoco Products Co		1.800		02/01/25		239,571
			TOTAL MATERIALS						239,571
REAL ESTATE - 1.3%
	300,000		Federal Realty Investment Trust		1.250		02/15/26		276,074
	250,000	g	HAT Holdings I LLC		3.375		06/15/26		237,500
			TOTAL REAL ESTATE						513,574
TECHNOLOGY HARDWARE & EQUIPMENT - 0.7%
	250,000		Apple, Inc		2.850		02/23/23		252,080
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						252,080
TELECOMMUNICATION SERVICES - 0.7%
	250,000	i	Verizon Communications, Inc	SOFR + 0.790%	1.062		03/20/26		249,736
			TOTAL TELECOMMUNICATION SERVICES						249,736

325

TIAA-CREF FUNDS - Short Duration Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE		VALUE
TRANSPORTATION - 0.6%
$	250,000		Canadian Pacific Railway Co		1.350	%	12/02/24	$	239,699
			TOTAL TRANSPORTATION						239,699
UTILITIES - 6.6%
	250,000		AES Corp		1.375		01/15/26		229,893
	300,000		Avangrid, Inc		3.200		04/15/25		299,072
	345,000	i	CenterPoint Energy Resources Corp	LIBOR 3 M + 0.500%	1.004		03/02/23		343,934
	292,050	g	India Cleantech Energy		4.700		08/10/26		273,460
	300,000	g	Korea Hydro & Nuclear Power Co Ltd		3.750		07/25/23		304,341
	300,000		National Fuel Gas Co		5.500		01/15/26		317,642
	300,000		OGE Energy Corp		0.703		05/26/23		293,905
	470,000		SCE Recovery Funding LLC		1.977		11/15/28		453,782
			TOTAL UTILITIES						2,516,029
			TOTAL CORPORATE BONDS						14,089,266
			(Cost $14,381,181)
GOVERNMENT BONDS - 34.0%
AGENCY SECURITIES - 9.3%
	250,000		Federal Home Loan Mortgage Corp (FHLMC)		0.375		05/05/23		246,113
	250,000		FHLMC		1.500		02/12/25		243,016
	500,000		Federal National Mortgage Association (FNMA)		0.250		07/10/23		488,529
	223,427		Overseas Private Investment Corp (OPIC)		1.790		10/15/29		214,513
	570,478		Penta Aircraft Leasing LLC		1.691		04/29/25		561,743
	1,000,000		Private Export Funding Corp (PEFCO)		2.050		11/15/22		1,002,778
	230,502		Thirax  LLC		0.968		01/14/33		206,135
	223,427		United States International Development Finance Corp		1.050		10/15/29		208,354
	250,000		US Department of Housing and Urban Development (HUD)		2.618		08/01/23		250,461
	138,137	i	Washington Aircraft 2 Co Ltd	LIBOR 3 M + 0.430%	1.396		06/26/24		138,451
			TOTAL AGENCY SECURITIES						3,560,093
FOREIGN GOVERNMENT BONDS - 6.4%
	500,000	g	European Stability Mechanism		1.375		09/11/24		486,491
	250,000		International Bank for Reconstruction & Development		0.625		04/22/25		235,811
	500,000	g	International Development Association		2.750		04/24/23		503,900
	250,000		International Finance Corp		2.000		10/24/22		251,062
	235,000	g	Korea Electric Power Corp		1.125		06/15/25		220,508
	250,000	g	Nederlandse Waterschapsbank NV		1.750		01/15/25		244,418
	500,000	g	Perusahaan Penerbit SBSN Indonesia III		3.750		03/01/23		506,250
			TOTAL FOREIGN GOVERNMENT BONDS						2,448,440
MORTGAGE BACKED - 0.3%
	65,959		Federal National Mortgage Association (FNMA)		2.500		10/01/36		65,287
	35,448		Government National Mortgage Association (GNMA)		4.000		12/20/44		37,244
			TOTAL MORTGAGE BACKED						102,531

326

TIAA-CREF FUNDS - Short Duration Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE		VALUE
MUNICIPAL BONDS - 8.7%
$	45,000	g	California Municipal Finance Authority		4.250	%	11/01/23	$	44,781
	440,000		California Municipal Finance Authority		1.622		08/15/25		419,266
	700,000		City of Detroit MI		1.817		04/01/22		700,000
	200,000		City of Detroit MI		2.189		04/01/24		194,086
	150,000	i	Connecticut Housing Finance Authority	SOFR + 0.650%	0.930		05/15/49		150,035
	25,000		County of Saline AR		3.550		06/01/42		25,225
	250,000	g	Florida Development Finance Corp		6.750		12/01/56		242,646
	650,000		Morris County Improvement Authority		0.468		06/15/23		638,904
	330,000		New York State Energy Research & Development Authority		1.624		10/01/22		328,866
	250,000	h	Pharr Economic Development Corp		3.016		08/15/26		248,961
	150,000		Redevelopment Authority of the City of Philadelphia		1.377		09/01/25		141,384
	200,000	g	Warm Springs Reservation Confederated Tribe		3.050		11/01/24		198,396
			TOTAL MUNICIPAL BONDS						3,332,550
U.S. TREASURY SECURITIES - 9.3%
	860,000		United States Treasury Note		0.125		06/30/22		859,026
	585,000		United States Treasury Note		0.125		10/31/22		581,389
	1,500,000		United States Treasury Note		2.625		12/31/23		1,509,551
	390,000	e	United States Treasury Note		1.500		02/29/24		384,318
	245,000		United States Treasury Note		1.750		03/15/25		239,813
			TOTAL U.S. TREASURY SECURITIES						3,574,097
			TOTAL GOVERNMENT BONDS						13,017,711
			(Cost $13,197,264)
STRUCTURED ASSETS - 24.1%
ASSET BACKED - 18.2%
	227,577		Delta Air Lines Pass Through Trust Series - 2020 1 (Class AA)		2.000		06/10/28		207,361
	259,338		Delta Air Lines Pass Through Trust Series - 2020 1 (Class A)		2.500		06/10/28		240,736
	319,805	g	GoodLeap Sustainable Home Solutions Trust Series - 2021 4GS (Class A)		1.930		07/20/48		289,519
	265,000	g	GoodLeap Sustainable Home Solutions Trust Series - 2021 5CS (Class B)		2.560		10/20/48		238,891
	139,274	g	HERO Funding Trust Series - 2016 1A (Class A)		4.050		09/20/41		139,919
	212,784	g	HERO Funding Trust Series - 2016 3A (Class A2)		3.910		09/20/42		212,035
	149,680	g	HERO Funding Trust Series - 2020 1A (Class A)		2.720		09/20/57		144,137
	149,524	g	Mosaic Solar Loan Trust Series - 2020 1A (Class A)		2.100		04/20/46		141,260
	334,048	g	Mosaic Solar Loan Trust Series - 2020 2A (Class A)		1.440		08/20/46		304,336
	392,379	g	Mosaic Solar Loan Trust Series - 2021 3A (Class A)		1.440		06/20/52		357,819

327

TIAA-CREF FUNDS - Short Duration Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE		VALUE
$	250,000	g	Mosaic Solar Loan Trust Series - 2021 3A (Class C)		1.770	%	06/20/52	$	231,052
	33,706	g	Renew Series - 2017 1A (Class A)		3.670		09/20/52		32,932
	270,000	g,i	STWD Mortgage Trust Series - 2021 LIH (Class C)	LIBOR 1 M + 1.955%	2.352		11/15/36		264,251
	223,618	g	Sunnova Helios VII Issuer LLC Series - 2021 C (Class A)		2.030		10/20/48		206,364
	287,895	g	Sunnova Helios VIII Issuer LLC Series - 2022 A (Class A)		2.790		02/22/49		275,517
	470,195	g	Sunrun Atlas Issuer LLC Series - 2019 2 (Class A)		3.610		02/01/55		460,821
	393,296	g	Sunrun Callisto Issuer LLC Series - 2019 1A (Class A)		3.980		06/30/54		386,935
	317,649	g	Sunrun Callisto Issuer LLC Series - 2021 2A (Class A)		2.270		01/30/57		289,164
	250,000	g	Tesla Auto Lease Trust Series - 2019 A (Class A4)		2.200		11/21/22		250,418
	250,000	g	Tesla Auto Lease Trust Series - 2020 A (Class D)		2.330		02/20/24		248,487
	250,000	g	Tesla Auto Lease Trust Series - 2021 A (Class A3)		0.560		03/20/25		242,331
	600,000	g	Tesla Auto Lease Trust Series - 2021 B (Class A3)		0.600		09/22/25		579,287
	654,803		Toyota Auto Receivables Owner Trust Series - 2021 B (Class A2)		0.140		01/16/24		652,169
	550,067	g	Vivint Colar Financing V LLC Series - 2018 1A (Class B)		7.370		04/30/48		551,936
			TOTAL ASSET BACKED						6,947,677
OTHER MORTGAGE BACKED - 5.9%
	250,000	g,i	Alen Mortgage Trust Series - 2021 ACEN (Class C)	LIBOR 1 M + 2.250%	2.647		04/15/34		244,199
	250,000	g,i	BX TRUST Series - 2022 AHP (Class C)		2.391		01/17/39		246,321
	250,000	g,i	Cityline Commercial Mortgage Trust Series - 2016 CLNE (Class A)		2.778		11/10/31		247,574
	32,348	i	Connecticut Avenue Securities Series - 2014 C03 (Class 1M2)	LIBOR 1 M + 3.000%	3.457		07/25/24		32,510
	40,000	g,i	Connecticut Avenue Securities Trust Series - 2021 R03 (Class 1M2)		1.749		12/25/41		37,863
	250,000	g,i	DBUBS Mortgage Trust Series - 2017 BRBK (Class D)		3.530		10/10/34		240,771
	30,000	g,i	Freddie Mac STACR REMIC Trust Series - 2021 DNA5 (Class M2)		1.749		01/25/34		29,513
	166,059		GS Mortgage Securities Trust Series - 2016 GS2 (Class AAB)		2.922		05/10/49		165,429
	250,000	g,i	MAD Mortgage Trust Series - 2017 330M (Class A)		2.976		08/15/34		244,636
	250,000	g,i	Natixis Commercial Mortgage Securities Trust Series - 2019 MILE (Class A)	LIBOR 1 M + 1.500%	1.897		07/15/36		248,724
	250,000	g,i	Natixis Commercial Mortgage Securities Trust Series - 2019 MILE (Class C)	LIBOR 1 M + 2.200%	2.597		07/15/36		248,071
	250,000	g,i	Natixis Commercial Mortgage Securities Trust Series - 2019 MILE (Class F)	LIBOR 1 M + 4.250%	4.647		07/15/36		241,279

328

TIAA-CREF FUNDS - Short Duration Impact Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE		VALUE
$	18,769	g,i	OBX Trust Series - 2018 1 (Class A2)	LIBOR 1 M + 0.650%	1.107	%	06/25/57	$	18,536
			TOTAL OTHER MORTGAGE BACKED						2,245,426
			TOTAL STRUCTURED ASSETS						9,193,103
			(Cost $9,556,735)
			TOTAL BONDS						36,300,080
			(Cost $37,135,180)
SHORT-TERM INVESTMENTS - 5.1%
REPURCHASE AGREEMENT - 3.4%
	1,300,000	r	Fixed Income Clearing Corp (FICC)		0.250		04/01/22		1,300,000
			TOTAL REPURCHASE AGREEMENT						1,300,000
SHARES			COMPANY
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 1.7%
	647,468	c	State Street Navigator Securities Lending Government Money Market Portfolio		0.290				647,468
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES						647,468
			TOTAL SHORT-TERM INVESTMENTS						1,947,468
			(Cost $1,947,468)
			TOTAL INVESTMENTS - 102.5%						39,217,437
			(Cost $40,060,642)
			OTHER ASSETS & LIABILITIES, NET - (2.5)%						(959,528	)
			NET ASSETS - 100.0%					$	38,257,909

LIBOR	London Interbank Offered Rate
M	Month
SOFR	Secure Overnight Financing Rate
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 $635,863.
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 3/31/22, the aggregate value of these securities is $14,528,848 or 38.0% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.
i	Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.
r	Agreement with Fixed Income Clearing Corp (FICC), 0.250% dated 3/31/22 to be repurchased at $1,300,000 on 4/1/22, collateralized by Government Agency Securities, with coupon rate 0.125% and maturity date 1/15/32, valued at $1,326,107.

329

TIAA-CREF FUNDS - Short-Term Bond Fund

TIAA-CREF FUNDS

SHORT-TERM BOND FUND

SCHEDULE OF INVESTMENTS

March 31, 2022

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
BANK LOAN OBLIGATIONS - 2.1%
CAPITAL GOODS - 0.0%
$	682,500	i	American Builders & Contractors Supply Co, Inc	LIBOR  1M + 2.000%		2.457	%	01/15/27	$	673,034
			TOTAL CAPITAL GOODS							673,034
COMMERCIAL & PROFESSIONAL SERVICES - 0.1%
	995,000	i	AECOM	LIBOR  1M + 1.750%		2.197		04/13/28		991,975
	320,935	i	Prime Security Services Borrower LLC	LIBOR  3M + 2.750%		3.500		09/23/26		318,262
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES							1,310,237
CONSUMER SERVICES - 0.3%
	1,481,061	i	1011778 BC ULC	LIBOR  1M + 1.750%		2.207		11/19/26		1,447,426
	1,943,891	i	Hilton Worldwide Finance LLC	LIBOR  1M + 1.750%		2.207		06/22/26		1,921,789
	804,486	i	KFC Holding Co	LIBOR  1M + 1.750%		2.218		03/09/28		796,272
	1,930,000	i	Wyndham Hotels & Resorts, Inc	LIBOR  1M + 1.750%		2.207		05/30/25		1,910,352
			TOTAL CONSUMER SERVICES							6,075,839
HEALTH CARE EQUIPMENT & SERVICES - 0.1%
	2,474,684	i	DaVita, Inc	LIBOR  1M + 1.750%		2.207		08/12/26		2,452,807
			TOTAL HEALTH CARE EQUIPMENT & SERVICES							2,452,807
HOUSEHOLD & PERSONAL PRODUCTS - 0.2%
	2,478,722	i	Energizer Holdings, Inc	LIBOR  1M + 2.250%		2.750		12/16/27		2,435,344
	990,000	i	Spectrum Brands, Inc	LIBOR  3M + 2.000%		2.500		03/03/28		975,774
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS							3,411,118
MATERIALS - 0.3%
	1,280,500	i	Asplundh Tree Expert LLC	LIBOR  1M + 1.750%		2.207		09/07/27		1,264,673
	1,791,687	i	Berry Global, Inc	LIBOR  1M + 1.750%		2.071		07/01/26		1,763,970
	1,976,979	i	Reynolds Consumer Products LLC	LIBOR  1M + 1.750%		2.207		02/04/27		1,941,670
			TOTAL MATERIALS							4,970,313
MEDIA & ENTERTAINMENT - 0.3%
	3,431,483	i	Charter Communications Operating LLC	LIBOR  1M + 1.750%		2.210		04/30/25		3,414,325
	1,369,150	i	CSC Holdings LLC	LIBOR  1M + 2.250%		2.647		07/17/25		1,344,341
	793,130	i	Nielsen Finance LLC	LIBOR  1M + 2.000%		2.306		10/04/23		791,893
	1,290,299	i	Outfront Media Capital LLC	LIBOR  1M + 1.750%		2.207		11/18/26		1,265,563
			TOTAL MEDIA & ENTERTAINMENT							6,816,122
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.4%
	1,322,780	i	Bausch Health Americas, Inc	LIBOR  1M + 2.750%		3.207		11/27/25		1,309,552
	1,985,000	i	Catalent Pharma Solutions, Inc	LIBOR  1M + 2.000%		2.500		02/22/28		1,980,038
	947,025	i	Elanco Animal Health Inc	LIBOR  1M + 1.750%		1.981		08/01/27		930,746
	1,000,000	i	Horizon Therapeutics USA, Inc	LIBOR  1M + 2.000%		2.500		05/22/26		988,250
	992,500	i	Horizon Therapeutics USA, Inc	LIBOR 1 M + 1.750%		2.250		03/15/28		981,334
	1,000,000	h,i	Prestige Brands, Inc	LIBOR 3 M + 2.000%		2.000		01/26/24		995,500
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES							7,185,420

330

TIAA-CREF FUNDS - Short-Term Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
SOFTWARE & SERVICES - 0.3%
$	902,425	i	IQVIA, Inc	LIBOR  1M + 1.750%		2.207	%	03/07/24	$	893,627
	1,389,098	i	IQVIA, Inc	LIBOR 1 M + 1.750%		2.207		01/14/25		1,376,943
	951,067	i	IQVIA, Inc	LIBOR 3 M + 1.750%		2.756		06/11/25		944,172
	1,857,697	i	Open Text Corp	LIBOR  1M + 1.750%		2.207		05/30/25		1,855,375
	463,505	*,i	SS&C Technologies, Inc	LIBOR  1M + 1.750%		2.207		04/16/25		455,755
	376,264	*,i	SS&C Technologies, Inc	LIBOR  1M + 1.750%		2.207		04/16/25		369,972
			TOTAL SOFTWARE & SERVICES							5,895,844
TRANSPORTATION - 0.1%
	1,804,288	i	Avis Budget Car Rental LLC	LIBOR  1M + 1.750%		2.210		08/06/27		1,763,691
			TOTAL TRANSPORTATION							1,763,691
UTILITIES - 0.0%
	559,205	i	Vistra Operations Co LLC	LIBOR  1M + 1.750%		2.191		12/31/25		552,970
			TOTAL UTILITIES							552,970
			TOTAL BANK LOAN OBLIGATIONS							41,107,395
			(Cost $41,535,233)
BONDS - 94.8%
CORPORATE BONDS - 33.7%
AUTOMOBILES & COMPONENTS - 0.3%
	2,725,000	g	Denso Corp			1.239		09/16/26		2,515,366
	1,150,000		Genuine Parts Co			1.750		02/01/25		1,098,078
	2,250,000	g	Hyundai Capital Services, Inc			2.125		04/24/25		2,156,792
			TOTAL AUTOMOBILES & COMPONENTS							5,770,236
BANKS - 10.2%
	2,100,000	g	Banco de Credito del Peru			2.700		01/11/25		2,044,140
	2,375,000	g	Banco del Estado de Chile			2.704		01/09/25		2,353,624
	2,855,000	g	Banco do Brasil S.A.			3.250		09/30/26		2,747,966
	750,000	g	Banco Santander Mexico S.A.			4.125		11/09/22		755,070
	2,000,000	g	Banco Santander Mexico S.A. Institucion de Banca Multiple Grupo Financiero Santand			5.375		04/17/25		2,087,070
	5,000,000		Banco Santander S.A.			3.496		03/24/25		5,003,250
	5,125,000		Bancolombia S.A.			3.000		01/29/25		4,985,088
	24,300,000		Bank of America Corp			3.004		12/20/23		24,361,354
	5,000,000		Bank of America Corp			0.976		04/22/25		4,792,208
	8,000,000		Bank of America Corp			0.981		09/25/25		7,582,477
	5,000,000		Bank of America Corp			3.384		04/02/26		4,993,269
	500,000		Citigroup, Inc			0.776		10/30/24		483,041
	23,600,000		Citigroup, Inc			0.981		05/01/25		22,497,343
	2,500,000		Citigroup, Inc			1.281		11/03/25		2,379,020
	5,000,000		Cooperatieve Rabobank UA			0.375		01/12/24		4,804,989
	1,825,000	g	Credicorp Ltd			2.750		06/17/25		1,757,050
	4,000,000	g	Dexia Credit Local S.A.			2.375		09/20/22		4,017,826

331

TIAA-CREF FUNDS - Short-Term Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	650,000		Discover Bank		3.350	%	02/06/23	$	656,249
	5,000,000	g	DNB Boligkreditt AS.		3.250		06/28/23		5,054,403
	1,250,000		HSBC USA, Inc		3.500		06/23/24		1,262,108
	2,800,000	g	Itau Unibanco Holding S.A.		3.250		01/24/25		2,780,960
	1,445,000		JPMorgan Chase & Co		3.200		01/25/23		1,460,174
	8,700,000		JPMorgan Chase & Co		3.207		04/01/23		8,700,000
	10,000,000		JPMorgan Chase & Co		2.776		04/25/23		10,002,328
	5,000,000		JPMorgan Chase & Co		4.023		12/05/24		5,080,043
	725,000		JPMorgan Chase & Co		0.563		02/16/25		692,868
	20,000,000		JPMorgan Chase & Co		0.824		06/01/25		19,071,423
	3,000,000		Mitsubishi UFJ Financial Group, Inc		2.623		07/18/22		3,011,642
	5,000,000		Mitsubishi UFJ Financial Group, Inc		0.848		09/15/24		4,845,792
	2,875,000		National Bank of Canada		0.550		11/15/24		2,766,116
	5,000,000		NatWest Group plc		3.875		09/12/23		5,051,199
	1,625,000		NatWest Group plc		2.359		05/22/24		1,611,798
	2,000,000	g	NBK SPC Ltd		2.750		05/30/22		2,000,508
	2,000,000		Royal Bank of Canada		2.800		04/29/22		2,002,507
	5,000,000	g	Skandinaviska Enskilda Banken AB		0.550		09/01/23		4,851,596
	5,000,000		Sumitomo Mitsui Financial Group, Inc		0.508		01/12/24		4,807,956
	2,100,000	g	Svenska Handelsbanken AB		0.625		06/30/23		2,055,255
	1,000,000		Synchrony Bank		3.000		06/15/22		1,001,700
	3,000,000		Toronto-Dominion Bank		0.750		06/12/23		2,945,583
	5,000,000		Toronto-Dominion Bank		0.450		09/11/23		4,861,755
	1,680,000		Truist Financial Corp		3.750		12/06/23		1,711,557
	5,000,000	g	UBS AG.		0.450		02/09/24		4,766,592
	4,000,000	g	United Overseas Bank Ltd		1.250		04/14/26		3,733,996
			TOTAL BANKS						204,430,893
CAPITAL GOODS - 0.8%
	3,721,000		Air Lease Corp		2.250		01/15/23		3,722,351
	2,000,000	g	BOC Aviation Ltd		3.500		10/10/24		1,997,732
	5,000,000		Boeing Co		1.433		02/04/24		4,836,045
	2,500,000	g	DAE Funding LLC		2.625		03/20/25		2,370,826
	272,000		Raytheon Technologies Corp		3.650		08/16/23		275,521
	3,000,000	g	TSMC Global Ltd		0.750		09/28/25		2,778,222
			TOTAL CAPITAL GOODS						15,980,697
COMMERCIAL & PROFESSIONAL SERVICES - 0.1%
	2,000,000		ADT Corp		4.125		06/15/23		2,021,780
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES						2,021,780
CONSUMER DURABLES & APPAREL - 0.1%
	1,455,000		Lennar Corp		4.875		12/15/23		1,494,563
			TOTAL CONSUMER DURABLES & APPAREL						1,494,563
CONSUMER SERVICES - 0.1%
	1,475,000		Hyatt Hotels Corp		1.300		10/01/23		1,437,371
			TOTAL CONSUMER SERVICES						1,437,371

332

TIAA-CREF FUNDS - Short-Term Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
DIVERSIFIED FINANCIALS - 7.3%
$	7,000,000		AerCap Ireland Capital DAC		3.150	%	02/15/24	$	6,887,146
	15,000,000		AerCap Ireland Capital DAC		1.650		10/29/24		14,166,137
	2,050,000		American Express Co		2.750		05/20/22		2,051,457
	3,000,000		American Honda Finance Corp		0.875		07/07/23		2,948,950
	5,000,000	g	Banco BTG Pactual S.A.		2.750		01/11/26		4,612,550
	1,325,000	g	BBVA Bancomer S.A.		1.875		09/18/25		1,262,725
	1,500,000	g,i	BX TRUST		1.867		02/15/39		1,468,128
	4,000,000		Capital One Bank USA NA		3.375		02/15/23		4,030,100
	3,000,000		Credit Suisse AG.		1.000		05/05/23		2,954,530
	5,000,000		Credit Suisse AG.		0.495		02/02/24		4,783,848
	2,950,000		Deutsche Bank AG.		0.898		05/28/24		2,808,838
	3,000,000		Discover Financial Services		3.850		11/21/22		3,036,806
	10,000,000	g	Federation des Caisses Desjardins du Quebec		0.700		05/21/24		9,530,164
	2,170,000		General Motors Financial Co, Inc		3.150		06/30/22		2,175,370
	5,000,000		General Motors Financial Co, Inc		3.550		07/08/22		5,025,457
	5,000,000		General Motors Financial Co, Inc		1.700		08/18/23		4,946,090
	3,910,000		General Motors Financial Co, Inc		3.950		04/13/24		3,970,669
	4,000,000		General Motors Financial Co, Inc		1.200		10/15/24		3,797,180
	3,000,000		Goldman Sachs Group, Inc		0.627		11/17/23		2,961,862
	5,000,000		Goldman Sachs Group, Inc		0.673		03/08/24		4,893,788
	5,000,000		Goldman Sachs Group, Inc		0.657		09/10/24		4,835,914
	3,000,000	g	Kookmin Bank		2.125		02/15/25		2,927,017
	6,105,000		Morgan Stanley		3.125		01/23/23		6,164,151
	5,000,000		Morgan Stanley		0.529		01/25/24		4,918,652
	4,175,000		Morgan Stanley		0.731		04/05/24		4,088,942
	5,000,000		Morgan Stanley		0.790		05/30/25		4,750,168
	5,000,000		Morgan Stanley		1.164		10/21/25		4,749,695
	2,775,000		Morgan Stanley		1.512		07/20/27		2,550,790
	7,000,000	g	Nationwide Building Society		1.700		02/13/23		6,980,101
	2,700,000	g	NatWest Markets plc		0.800		08/12/24		2,541,688
	1,125,000	g	REC Ltd		4.750		05/19/23		1,138,015
	4,500,000		Toyota Motor Credit Corp		0.500		08/14/23		4,391,992
	4,725,000	g	UBS Group AG		1.008		07/30/24		4,596,254
	2,000,000	g	United Overseas Bank Ltd		3.059		04/07/25		2,000,000
			TOTAL DIVERSIFIED FINANCIALS						144,945,174
ENERGY - 2.1%
	3,000,000		Canadian Natural Resources Ltd		2.050		07/15/25		2,876,580
	5,000,000		Enbridge, Inc		0.550		10/04/23		4,845,560
	2,230,000	g	Energean Israel Finance Ltd		4.500		03/30/24		2,206,548
	5,000,000		Energy Transfer Operating LP		4.500		04/15/24		5,115,845
	3,500,000	g	Leviathan Bond Ltd		5.750		06/30/23		3,542,554
	1,000,000		Marathon Petroleum Corp		4.700		05/01/25		1,039,173
	4,000,000		MPLX LP		3.375		03/15/23		4,029,929
	2,200,000	g	Pertamina Persero PT		4.875		05/03/22		2,200,618
	265,000		Petroleos Mexicanos		2.000		12/20/22		265,028
	2,000,000		Petroleos Mexicanos		3.500		01/30/23		2,000,500
	486,500		Petroleos Mexicanos		2.378		04/15/25		484,454

333

TIAA-CREF FUNDS - Short-Term Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	1,000,000		Petroleos Mexicanos		4.500	%	01/23/26	$	978,500
	1,350,000		Phillips 66		0.900		02/15/24		1,306,397
	5,000,000	g	Saudi Arabian Oil Co		2.875		04/16/24		4,979,447
	5,000,000		TransCanada PipeLines Ltd		1.000		10/12/24		4,750,293
	1,925,000	g	Tullow Oil plc		10.250		05/15/26		1,961,344
			TOTAL ENERGY						42,582,770
FOOD & STAPLES RETAILING - 0.2%
	5,000,000		Walmart, Inc		2.350		12/15/22		5,022,050
			TOTAL FOOD & STAPLES RETAILING						5,022,050
FOOD, BEVERAGE & TOBACCO - 0.3%
	1,850,000		BAT Capital Corp		3.222		08/15/24		1,849,322
	2,450,000		ConAgra Brands, Inc		0.500		08/11/23		2,371,623
	2,000,000		Constellation Brands, Inc		3.200		02/15/23		2,019,733
			TOTAL FOOD, BEVERAGE & TOBACCO						6,240,678
HEALTH CARE EQUIPMENT & SERVICES - 0.5%
	4,925,000		CVS Health Corp		2.625		08/15/24		4,908,754
	3,300,000		Humana, Inc		0.650		08/03/23		3,219,443
	2,950,000		Zimmer Biomet Holdings, Inc		1.450		11/22/24		2,829,217
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						10,957,414
INSURANCE - 0.6%
	3,000,000	g	MassMutual Global Funding II		0.850		06/09/23		2,947,296
	3,000,000	g	Principal Life Global Funding II		0.750		04/12/24		2,867,325
	2,500,000	g	Principal Life Global Funding II		0.875		01/12/26		2,281,726
	5,000,000	g	Protective Life Global Funding		0.473		01/12/24		4,776,447
			TOTAL INSURANCE						12,872,794
MATERIALS - 1.2%
	6,250,000		Berry Global, Inc		0.950		02/15/24		5,983,405
	1,000,000		Celulosa Arauco y Constitucion S.A.		4.500		08/01/24		1,027,510
	3,000,000	g	Fresnillo plc		5.500		11/13/23		3,123,780
	1,350,000	g	Midwest Connector Capital Co LLC		3.625		04/01/22		1,350,000
	2,225,000	g	Orbia Advance Corp SAB de C.V.		1.875		05/11/26		2,084,380
	1,550,000	g	SABIC Capital II BV		4.000		10/10/23		1,576,902
	3,000,000		Sasol Financing International plc		4.500		11/14/22		3,000,000
	2,000,000		Westlake Chemical Corp		0.875		08/15/24		1,917,858
	3,000,000		WRKCo, Inc		3.000		09/15/24		2,971,933
			TOTAL MATERIALS						23,035,768
MEDIA & ENTERTAINMENT - 1.2%
	5,100,000		Charter Communications Operating LLC		4.464		07/23/22		5,118,698
	3,250,000		DH Europe Finance II Sarl		2.200		11/15/24		3,183,506
	6,875,000	g	Magallanes, Inc		3.638		03/15/25		6,916,772
	3,400,000	g	Misc Capital Two Labuan Ltd		3.625		04/06/25		3,397,545
	1,075,000		TSMC Arizona Corp		1.750		10/25/26		1,007,428

334

TIAA-CREF FUNDS - Short-Term Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	1,100,000		Viatris, Inc		1.125	%	06/22/22	$	1,099,933
	3,000,000		Walt Disney Co		1.650		09/01/22		3,002,452
			TOTAL MEDIA & ENTERTAINMENT						23,726,334
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 1.9%
	18,000,000		AbbVie, Inc		2.300		11/21/22		18,060,683
	4,450,000		AbbVie, Inc		3.800		03/15/25		4,532,691
	2,500,000		Bristol-Myers Squibb Co		2.600		05/16/22		2,502,347
	4,406,000		Gilead Sciences, Inc		0.750		09/29/23		4,302,985
	5,000,000		Takeda Pharmaceutical Co Ltd		4.400		11/26/23		5,123,330
	2,000,000		Teva Pharmaceutical Finance Co BV		2.950		12/18/22		1,987,500
	1,045,000		Teva Pharmaceutical Finance Netherlands III BV		4.750		05/09/27		1,003,148
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						37,512,684
REAL ESTATE - 1.6%
	2,000,000		American Tower Corp		3.375		05/15/24		2,006,010
	1,450,000		AvalonBay Communities, Inc		3.500		11/15/24		1,465,366
	2,600,000		Boston Properties LP		3.125		09/01/23		2,615,465
	1,044,000		Brandywine Operating Partnership LP		4.100		10/01/24		1,056,228
	3,000,000		Brixmor Operating Partnership LP		3.650		06/15/24		3,021,748
	5,000,000		Essex Portfolio LP		3.875		05/01/24		5,056,584
	410,000		Federal Realty Investment Trust		3.950		01/15/24		415,305
	850,000		Highwoods Realty LP		3.625		01/15/23		853,983
	1,665,000	g	SBA Tower Trust		2.836		01/15/25		1,637,880
	13,365,000	g	SBA Tower Trust		1.884		01/15/26		12,609,339
	2,500,000	g	SBA Tower Trust		1.631		11/15/26		2,349,362
			TOTAL REAL ESTATE						33,087,270
RETAILING - 0.5%
	5,000,000	g	GSK Consumer Healthcare Capital UK plc		3.125		03/24/25		4,984,442
	2,150,000	g	Kia Corp		1.000		04/16/24		2,053,420
	1,335,000	g	Kia Corp		2.375		02/14/25		1,297,519
	1,600,000	g	Volkswagen Group of America Finance LLC		3.125		05/12/23		1,610,868
			TOTAL RETAILING						9,946,249
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.4%
	5,000,000		NVIDIA Corp		0.584		06/14/24		4,794,480
	3,000,000	g	SK Hynix, Inc		1.500		01/19/26		2,775,209
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT						7,569,689
SOFTWARE & SERVICES - 1.0%
	5,000,000	e	Adobe, Inc		1.900		02/01/25		4,887,860
	5,000,000		Fidelity National Information Services, Inc		0.600		03/01/24		4,786,776
	5,146,000		Fiserv, Inc		3.500		10/01/22		5,167,349
	2,100,000	g	HCL America, Inc		1.375		03/10/26		1,922,652
	3,000,000	g	Prosus NV		3.257		01/19/27		2,740,691
			TOTAL SOFTWARE & SERVICES						19,505,328

335

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	$	1,853,130
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						1,853,130
TELECOMMUNICATION SERVICES - 0.8%
	7,000,000		AT&T, Inc		2.625		12/01/22		7,033,679
	4,440,000		AT&T, Inc		4.450		04/01/24		4,569,440
	5,000,000		T-Mobile USA, Inc		3.500		04/15/25		5,033,088
			TOTAL TELECOMMUNICATION SERVICES						16,636,207
TRANSPORTATION - 0.5%
	5,000,000		Canadian Pacific Railway Co		1.350		12/02/24		4,793,985
	3,000,000	g	Grupo Aeromexico SAB de C.V.		8.500		03/17/27		3,013,950
	2,200,000	g	Transnet SOC Ltd		4.000		07/26/22		2,164,580
			TOTAL TRANSPORTATION						9,972,515
UTILITIES - 1.9%
	2,000,000	g	AIG Global Funding		0.800		07/07/23		1,955,628
	3,000,000		Atmos Energy Corp		0.625		03/09/23		2,955,390
	3,225,000	e	Consumers Energy Co		0.350		06/01/23		3,142,634
	3,000,000		DTE Energy Co		2.250		11/01/22		3,003,968
	4,775,000		Enbridge, Inc		2.500		02/14/25		4,667,595
	2,000,000	g	Hanwha Energy USA Holdings Corp		2.375		07/30/22		2,003,106
	2,000,000	g	KSA Sukuk Ltd		2.894		04/20/22		2,000,188
	5,000,000		NextEra Energy Capital Holdings, Inc		0.650		03/01/23		4,928,171
	5,000,000	g	Southern Natural Gas Co LLC		0.625		04/28/23		4,900,905
	3,000,000	g	State Grid Overseas Investment Ltd		2.750		05/04/22		3,000,630
	3,000,000	g	Tengizchevroil Finance Co International Ltd		2.625		08/15/25		2,637,670
	2,020,000		WEC Energy Group, Inc		0.550		09/15/23		1,962,045
			TOTAL UTILITIES						37,157,930
			TOTAL CORPORATE BONDS						673,759,524
			(Cost $691,011,943)
GOVERNMENT BONDS - 34.4%
AGENCY SECURITIES - 1.1%
	2,470,000		Montefiore Medical Center		2.152		10/20/26		2,401,415
	5,900,000		Private Export Funding Corp (PEFCO)		1.750		11/15/24		5,752,453
	4,210,526		Reliance Industries Ltd		1.870		01/15/26		4,132,470
	4,000,000		Reliance Industries Ltd		2.060		01/15/26		3,940,682
	5,263,158		Reliance Industries Ltd		2.444		01/15/26		5,225,143
	415,477		San Clemente Leasing LLC		3.030		11/22/22		416,907
			TOTAL AGENCY SECURITIES						21,869,070
FOREIGN GOVERNMENT BONDS - 10.5%
	1,450,000	e,g	African Export-Import Bank		2.634		05/17/26		1,346,465
	3,325,000	g	Arab Petroleum Investments Corp		4.125		09/18/23		3,395,087

336

TIAA-CREF FUNDS - Short-Term Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	7,000,000	g	Bermuda Government International Bond			4.138	%	01/03/23	$	7,049,070
	3,000,000	g	BNG Bank NV			0.875		05/18/26		2,783,515
	3,250,000		Brazilian Government International Bond			2.625		01/05/23		3,267,160
	2,500,000		Brazilian Government International Bond			2.875		06/06/25		2,448,850
	5,000,000	g	Caisse d’Amortissement de la Dette Sociale			0.375		09/23/25		4,615,359
	10,000,000	g	CDP Financial, Inc			0.875		06/10/25		9,448,700
	2,500,000	g	Development Bank of Japan, Inc			0.500		03/04/24		2,406,394
	1,725,000	g	Egypt Government International Bond			5.577		02/21/23		1,725,168
	1,500,000	g	Egypt Government International Bond			4.550		11/20/23		1,465,369
	3,200,000		Export-Import Bank of India			4.000		01/14/23		3,219,738
	4,000,000		Export-Import Bank of Korea			0.750		09/21/25		3,708,418
	1,000,050	g	Honduras Government International Bond			7.500		03/15/24		990,350
	8,900,000	g	International Development Association			2.750		04/24/23		8,969,420
	6,100,000		Japan Bank for International Cooperation			1.750		01/23/23		6,096,700
	6,650,000	g	Japan Finance Organization for Municipalities			3.375		09/27/23		6,742,762
	4,500,000	g	Japan Finance Organization for Municipalities			3.000		03/12/24		4,533,035
	1,560,000	g	Kommunalbanken AS.			2.750		02/05/24		1,570,242
	10,000,000	g	Kommunalbanken AS.			0.375		09/11/25		9,245,773
	5,667,000	g	Kommuninvest I Sverige AB			2.625		09/15/22		5,706,272
	5,400,000	g	Kommuninvest I Sverige AB			0.250		12/01/22		5,351,800
	1,400,000	g	Korea Electric Power Corp			1.125		06/15/25		1,313,662
	1,875,000	g	Korea Housing Finance Corp			3.000		10/31/22		1,881,038
	2,800,000	g	Korea Hydro & Nuclear Power Co Ltd			1.250		04/27/26		2,605,668
	12,000,000	i	Kreditanstalt fuer Wiederaufbau	SOFR + 1.000%		1.176		02/12/24		12,190,652
	9,000,000		Kreditanstalt fuer Wiederaufbau			0.625		01/22/26		8,357,390
	10,000,000		Mexico Government International Bond			2.659		05/24/31		9,102,000
	2,025,000	g	Morocco Government International Bond			4.250		12/11/22		2,048,207
	3,000,000	g	Morocco Government International Bond			2.375		12/15/27		2,733,597
	5,950,000	g	OMERS Finance Trust			2.500		05/02/24		5,940,195
	15,000,000	g	Ontario Teachers’ Finance Trust			1.625		09/12/24		14,658,600
	5,000,000	g	Perusahaan Penerbit SBSN Indonesia III			3.750		03/01/23		5,062,500
	3,400,000	g	Perusahaan Penerbit SBSN Indonesia III			3.900		08/20/24		3,503,700
	10,400,000	e	Province of British Columbia Canada			1.300		01/29/31		9,290,584
	1,300,000		Province of New Brunswick Canada			8.750		05/01/22		1,307,150
	5,000,000		Province of Quebec Canada			1.900		04/21/31		4,672,496
	3,000,000	g	Qatar Government International Bond			3.375		03/14/24		3,042,189
	4,000,000	g	Qatar Government International Bond			4.000		03/14/29		4,261,321
	6,800,000		Republic of Italy Government International Bond			2.375		10/17/24		6,681,173
	1,500,000	g	Republic of Paraguay Government International Bond			4.625		01/25/23		1,515,000
	2,000,000	g	Republic of Uzbekistan International Bond			4.750		02/20/24		1,998,852
	5,200,000	g	Saudi Government International Bond			3.250		10/26/26		5,312,243
	1,540,000		Svensk Exportkredit AB			1.750		12/12/23		1,524,898
	5,000,000		Svensk Exportkredit AB			0.500		08/26/25		4,642,300
			TOTAL FOREIGN GOVERNMENT BONDS							209,731,062

337

TIAA-CREF FUNDS - Short-Term Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
MORTGAGE BACKED - 3.5%
$	1,500,000	g,i	Connecticut Avenue Securities Trust		1.999	%	12/25/41	$	1,430,498
	236		Federal National Mortgage Association (FNMA)		5.500		09/25/22		237
	6,225,000	g,i	Freddie Mac STACR REMIC Trust		2.349		08/25/33		6,170,257
	15,000,000	g,i	Freddie Mac STACR REMIC Trust		1.099		01/25/42		14,735,426
	7,727,895		Government National Mortgage Association (GNMA)		2.000		05/15/31		7,486,941
	18,748,516		GNMA		1.730		07/15/37		17,898,528
	21,490,148		GNMA		4.250		09/15/38		22,079,367
			TOTAL MORTGAGE BACKED						69,801,254
MUNICIPAL BONDS - 2.0%
	5,000,000		Bay Area Toll Authority		2.254		04/01/24		4,958,957
	19,755,000		City of New York NY		2.280		08/01/25		19,413,552
	10,000,000		Massachusetts Water Resources Authority		2.083		08/01/25		9,780,635
	6,000,000		Massachusetts Water Resources Authority		3.104		08/01/39		5,747,522
			TOTAL MUNICIPAL BONDS						39,900,666
U.S. TREASURY SECURITIES - 17.3%
	12,177,000	k	United States Treasury Inflation Indexed Bonds		0.125		01/15/23		12,601,768
	29,211,793	k	United States Treasury Inflation Indexed Bonds		0.625		01/15/24		30,723,160
	39,008,400	k	United States Treasury Inflation Indexed Bonds		0.500		04/15/24		40,998,438
	7,102,380	d,k	United States Treasury Inflation Indexed Bonds		0.125		07/15/24		7,453,337
	16,432,800	k	United States Treasury Inflation Indexed Bonds		0.125		10/15/24		17,188,965
	14,161,400	k	United States Treasury Inflation Indexed Bonds		2.000		01/15/26		15,867,406
	28,937,790	k	United States Treasury Inflation Indexed Bonds		0.125		04/15/26		30,246,773
	3,085,800	k	United States Treasury Inflation Indexed Bonds		0.125		10/15/26		3,243,586
	21,290,000		United States Treasury Note		0.125		06/30/22		21,265,883
	27,700,000		United States Treasury Note		0.125		10/31/22		27,529,039
	2,500,000		United States Treasury Note		0.125		01/31/23		2,470,410
	25,995,000		United States Treasury Note		0.125		03/31/23		25,589,844
	5,200,000		United States Treasury Note		0.125		05/31/23		5,093,766
	42,525,000		United States Treasury Note		0.125		08/31/23		41,372,174
	9,705,000		United States Treasury Note		0.250		09/30/23		9,435,459
	14,630,000	e	United States Treasury Note		1.500		02/29/24		14,416,836
	21,014,000		United States Treasury Note		1.750		03/15/25		20,569,094
	3,575,000		United States Treasury Note		1.875		02/28/27		3,479,201
	17,275,000		United States Treasury Note		1.875		02/15/32		16,589,398
			TOTAL U.S. TREASURY SECURITIES						346,134,537
			TOTAL GOVERNMENT BONDS						687,436,589
			(Cost $702,609,837)

338

TIAA-CREF FUNDS - Short-Term Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
STRUCTURED ASSETS - 26.7%
ASSET BACKED - 11.2%
$	90,376		Aames Mortgage Trust (Step Bond)			7.396	%	06/25/32	$	87,455
			Series - 2002 1 (Class A3)
	55,677	†,g	Asset Backed Funding Corp NIM Trust			5.900		07/26/35		1
			Series - 2005 WMC1 (Class N1)
	1,333,347	i	Asset Backed Securities Corp Home Equity Loan Trust	LIBOR 1 M + 1.650%		2.047		03/15/32		1,325,534
			Series - 2002 HE1 (Class M1)
	4,214,000	i	Bayview Financial Mortgage Pass-Through Trust	LIBOR 1 M + 1.125%		1.572		02/28/41		4,189,153
			Series - 2006 A (Class M4)
	130,812	i	Bear Stearns Asset Backed Securities Trust	LIBOR 1 M + 1.230%		1.687		08/25/43		132,896
			Series - 2005 SD1 (Class 1M3)
	1,978,951	g	Capital Automotive REIT			1.440		08/15/51		1,847,880
			Series - 2021 1A (Class A1)
	2,115,000	g	Capital Automotive REIT			1.920		08/15/51		1,970,917
			Series - 2021 1A (Class A3)
	374,999		CarMax Auto Owner Trust			3.360		09/15/23		376,356
			Series - 2018 4 (Class A3)
	323,189		CarMax Auto Owner Trust			3.050		03/15/24		324,410
			Series - 2019 1 (Class A3)
	8,600,000		CarMax Auto Owner Trust			0.740		10/15/26		8,071,910
			Series - 2021 1 (Class B)
	7,000,000		CarMax Auto Owner Trust			1.000		03/15/27		6,564,888
			Series - 2021 3 (Class B)
	1,599		Centex Home Equity			5.540		01/25/32		1,573
			Series - 2002 A (Class AF6)
	53,445	i	Centex Home Equity	LIBOR 1 M + 0.645%		1.102		03/25/34		51,962
			Series - 2004 B (Class M1)
	9,803,362	g	CF Hippolyta LLC			1.690		07/15/60		9,263,684
			Series - 2020 1 (Class A1)
	122,341	i	Chase Funding Mortgage Loan Asset-Backed Certificates			5.700		02/26/35		125,076
			Series - 2004 2 (Class 1M2)
	2,000,000	i	Citibank Credit Card Issuance Trust	LIBOR 1 M + 0.370%		0.680		08/08/24		2,001,786
			Series - 2017 A7 (Class A7)
	2,000,000	i	Citibank Credit Card Issuance Trust	LIBOR 1 M + 0.330%		0.779		01/20/25		2,002,392
			Series - 2018 A2 (Class A2)
	2,540,000		CNH Equipment Trust			0.900		01/16/29		2,376,355
			Series - 2021 B (Class B)
	112,015	g	Credit-Based Asset Servicing & Securitization LLC (Step Bond)			4.689		12/25/37		111,666
			Series - 2007 SP1 (Class A4)
	6,783,000	g	DB Master Finance LLC			2.045		11/20/51		6,188,375
			Series - 2021 1A (Class A2I)
	2,000,000	i	Discover Card Execution Note Trust	LIBOR 1 M + 0.330%		0.727		08/15/25		2,001,585
			Series - 2018 A2 (Class A2)

339

TIAA-CREF FUNDS - Short-Term Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	10,917,500	g	Domino’s Pizza Master Issuer LLC			2.662	%	04/25/51	$	10,121,800
			Series - 2021 1A (Class A2I)
	4,779,178	g	FCI Funding LLC			1.130		04/15/33		4,730,300
			Series - 2021 1A (Class A)
	3,204,897	g	FNA VI LLC			1.350		01/10/32		3,058,868
			Series - 2021 1A (Class A)
	5,900,000		Ford Credit Auto Lease Trust			0.470		05/15/24		5,777,138
			Series - 2021 A (Class B)
	1,849,224		Ford Credit Auto Owner Trust			1.040		08/15/24		1,841,717
			Series - 2020 A (Class A3)
	2,000,000		Ford Credit Auto Owner Trust			1.350		07/15/25		1,963,027
			Series - 2020 A (Class A4)
	4,500,000		Ford Credit Auto Owner Trust			0.700		10/15/26		4,217,964
			Series - 2021 A (Class B)
	1,500,000	g	Ford Credit Auto Owner Trust			1.610		10/17/33		1,388,799
			Series - 2021 1 (Class B)
	170,141		GM Financial Consumer Automobile Receivables Trust			3.210		10/16/23		170,477
			Series - 2018 4 (Class A3)
	3,350,000		GM Financial Consumer Automobile Receivables Trust			0.750		05/17/27		3,158,799
			Series - 2021 1 (Class B)
	235,414		Honda Auto Receivables Owner Trust			2.830		03/20/23		235,997
			Series - 2019 1 (Class A3)
	6,500,000	g	Hyundai Auto Lease Securitization Trust			0.610		10/15/25		6,351,305
			Series - 2021 A (Class B)
	1,847,708	g,i	Invitation Homes Trust	LIBOR 1 M + 0.900%		1.297		06/17/37		1,841,351
			Series - 2018 SFR2 (Class A)
	2,250,274	g,i	Invitation Homes Trust	LIBOR 1 M + 1.000%		1.441		07/17/37		2,250,273
			Series - 2018 SFR3 (Class A)
	1,000,000	g,i	Irvine Core Office Trust			3.174		05/15/48		1,001,730
			Series - 2013 IRV (Class A2)
	6,914,201	g	MMAF Equipment Finance LLC			2.010		12/12/24		6,898,229
			Series - 2019 B (Class A3)
	3,369,089	g	Navient Private Education Refi Loan Trust			0.840		05/15/69		3,216,636
			Series - 2021 A (Class A)
	3,000,000	g	Oportun Funding XIV LLC			1.210		03/08/28		2,912,716
			Series - 2021 A (Class A)
	2,000,000	g	Oportun Issuance Trust			1.960		05/08/31		1,904,284
			Series - 2021 B (Class B)
	1,327,901	i	Park Place Securities, Inc	LIBOR 1 M + 1.245%		1.702		01/25/36		1,323,438
			Series - 2005 WCH1 (Class M4)
	7,000,000	g	PFS Financing Corp			0.710		04/15/26		6,645,201
			Series - 2021 A (Class A)
	5,500,000	g	Santander Consumer Auto Receivables Trust			0.710		08/17/26		5,185,475
			Series - 2021 AA (Class B)
	7,580,149		SCE Recovery Funding LLC			0.861		11/15/31		6,824,528
	2,475,000	g	ServiceMaster Funding LLC			2.841		10/30/51		2,241,048
			Series - 2020 1 (Class A2I)

340

TIAA-CREF FUNDS - Short-Term Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	5,706,875	g	SERVPRO Master Issuer LLC			2.394	%	04/25/51	$	5,131,690
			Series - 2021 1A (Class A2)
	2,823,166	g	Sierra Timeshare Receivables Funding LLC			0.990		11/20/37		2,695,068
			Series - 2021 1A (Class A)
	117,095	g	SoFi Professional Loan Program LLC			2.360		12/27/32		117,226
			Series - 2016 C (Class A2B)
	384,787	g	SoFi Professional Loan Program LLC			2.340		04/25/33		384,692
			Series - 2016 D (Class A2B)
	131,052	g	SoFi Professional Loan Program LLC			2.630		07/25/40		131,017
			Series - 2017 C (Class A2B)
	3,750,000	g	Stack Infrastructure Issuer LLC			1.893		08/25/45		3,515,373
			Series - 2020 1A (Class A2)
	12,807,900	g	Taco Bell Funding LLC			1.946		08/25/51		11,583,401
			Series - 2021 1A (Class A2I)
	8,876,833	g	TES LLC			4.330		10/20/47		8,747,340
			Series - 2017 1A (Class A)
	6,700,000	g	Tesla Auto Lease Trust			0.660		03/20/25		6,452,516
			Series - 2021 A (Class A4)
	5,000,000	g	Tesla Auto Lease Trust			1.020		03/20/25		4,838,044
			Series - 2021 A (Class B)
	39,401		Toyota Auto Receivables Owner			3.180		03/15/23		39,440
			Series - 2018 D (Class A3)
	10,185,000		Verizon Master Trust			0.890		05/20/27		9,706,928
			Series - 2021 1 (Class C)
	9,000,000		Verizon Owner Trust			3.020		09/20/23		9,039,381
			Series - 2019 A (Class B)
	17,500,000		Verizon Owner Trust			0.680		02/20/25		16,919,338
			Series - 2020 B (Class B)
	2,388,147		Volkswagen Auto Loan Enhanced Trust			0.980		11/20/24		2,373,155
			Series - 2020 1 (Class A3)
	1,500,000		Volkswagen Auto Loan Enhanced Trust			1.260		08/20/26		1,471,115
			Series - 2020 1 (Class A4)
	5,766,425	g	Wendy’s Funding LLC			2.370		06/15/51		5,128,728
			Series - 2021 1A (Class A2I)
			TOTAL ASSET BACKED							222,551,406
OTHER MORTGAGE BACKED - 15.5%
	53,800	g,i	ACE Securities Corp Manufactured Housing Trust			6.500		08/15/30		53,953
			Series - 2003 MH1 (Class M1)
	3,808,214	g,i	ACRE Commercial Mortgage Ltd	LIBOR 1 M + 0.830%		1.298		12/18/37		3,780,338
			Series - 2021 FL4 (Class A)
	5,242,000	g,i	Angel Oak Mortgage Trust			3.161		12/25/59		5,176,819
			Series - 2020 1 (Class M1)
	7,500,000	g,i	BAMLL Commercial Mortgage Securities Trust			2.452		01/15/39		7,424,755
			Series - 2022 DKLX (Class C)
	4,119,000	g,i	BBCMS Trust	LIBOR 1 M + 1.000%		1.397		07/15/37		4,072,801
			Series - 2018 CBM (Class A)

341

TIAA-CREF FUNDS - Short-Term Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	462,190	i	Bear Stearns ALT-A Trust	LIBOR 1 M + 0.600%		1.057	%	06/25/34	$	464,788
			Series - 2004 4 (Class A1)
	1,280,510	g,i	BHP Trust	LIBOR 1 M + 0.975%		1.372		08/15/36		1,261,205
			Series - 2019 BXHP (Class A)
	2,415,134	g,i	BX Commercial Mortgage Trust	LIBOR 1 M + 1.800%		2.197		11/15/35		2,413,678
			Series - 2018 IND (Class F)
	3,060,000	g,i	BX Commercial Mortgage Trust	LIBOR 1 M + 1.250%		1.647		10/15/36		3,032,098
			Series - 2019 XL (Class C)
	4,879,819	g,i	BX Commercial Mortgage Trust	LIBOR 1 M + 0.998%		1.395		10/15/38		4,766,593
			Series - 2021 XL2 (Class B)
	8,246,895	g,i	BX Commercial Mortgage Trust	LIBOR 1 M + 1.197%		1.594		10/15/38		8,050,162
			Series - 2021 XL2 (Class C)
	1,463,946	g,i	BX Commercial Mortgage Trust	LIBOR 1 M + 1.846%		2.243		10/15/38		1,427,186
			Series - 2021 XL2 (Class E)
	1,000,000	g,i	BX TRUST			2.141		01/17/39		983,789
			Series - 2022 AHP (Class B)
	4,278,788	g,i	Chase Mortgage Trust			3.750		12/25/45		4,203,004
			Series - 2016 SH2 (Class M2)
	22,776		Citicorp Mortgage Securities Trust			5.500		02/25/26		22,795
			Series - 2006 1 (Class 5A1)
	1,400,000	i	Citigroup Commercial Mortgage Trust			4.134		04/10/46		1,400,895
			Series - 2013 GC11 (Class C)
	1,120,816	g,i	Citigroup Mortgage Loan Trust	LIBOR 1 M + 0.290%		2.631		09/25/36		1,097,790
			Series - 2006 AMC1 (Class A1)
	3,000,000	g	COMM Mortgage Trust			3.376		01/10/39		2,899,318
			Series - 2022 HC (Class C)
	3,623,360	g	COMM Mortgage Trust			3.397		03/10/46		3,605,019
			Series - 2013 CR6 (Class B)
	1,600,000	g,i	COMM Mortgage Trust			4.901		08/10/46		1,610,675
			Series - 2013 CR10 (Class C)
	2,983,000	g,i	COMM Mortgage Trust			4.901		08/10/46		2,939,806
			Series - 2013 CR10 (Class D)
	2,014,904		COMM Mortgage Trust			4.701		03/10/47		2,034,091
			Series - 2014 UBS2 (Class B)
	2,000,000	i	COMM Mortgage Trust			4.703		08/10/47		2,017,349
			Series - 2014 CR19 (Class B)
	1,000,000	g,i	COMM Mortgage Trust			4.705		08/10/47		939,425
			Series - 2014 CR19 (Class D)
	4,115,000	i	COMM Mortgage Trust			4.334		07/10/48		4,148,924
			Series - 2015 LC21 (Class B)
	3,000,000	i	COMM Mortgage Trust			3.463		08/10/48		2,699,959
			Series - 2015 CR24 (Class D)
	3,970,000	i	COMM Mortgage Trust			4.530		08/10/48		3,993,280
			Series - 2015 CR25 (Class B)
	2,500,000	i	COMM Mortgage Trust			4.478		10/10/48		2,519,755
			Series - 2015 CR26 (Class B)
	796,544	i	Connecticut Avenue Securities	LIBOR 1 M + 2.600%		3.057		05/25/24		797,539
			Series - 2014 C02 (Class 1M2)
	3,226,143	i	Connecticut Avenue Securities	LIBOR 1 M + 3.000%		3.457		07/25/24		3,242,299
			Series - 2014 C03 (Class 1M2)

342

TIAA-CREF FUNDS - Short-Term Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	5,822,176	i	Connecticut Avenue Securities	LIBOR 1 M + 2.200%		2.657	%	01/25/30	$	5,850,857
			Series - 2017 C05 (Class 1M2)
	10,000,000	g,i	Connecticut Avenue Securities Trust			1.649		10/25/41		9,660,770
			Series - 2021 R01 (Class 1M2)
	13,098,212	g,i	Connecticut Avenue Securities Trust			0.949		12/25/41		12,932,766
			Series - 2021 R03 (Class 1M1)
	2,523,039	g	Credit Suisse Commercial Mortgage Trust			3.304		09/15/37		2,465,778
			Series - 2014 USA (Class A1)
	8,756		Credit Suisse First Boston Mortgage Securities Corp			5.750		09/25/33		8,750
			Series - 2003 23 (Class 3A4)
	4,150,000	g,i	Credit Suisse Mortgage Capital Certificates	LIBOR 1 M + 0.980%		1.377		05/15/36		4,127,591
			Series - 2019 ICE4 (Class A)
	1,400,000	g	CSMC			2.816		08/15/37		1,336,447
			Series - 2020 NET (Class B)
	3,206,237	g	CSMC Trust			1.414		05/25/65		3,153,750
			Series - 2020 NQM1 (Class A2)
	46,174		Deutsche Mortgage Securities, Inc Mortgage Loan Trust (Step Bond)			5.940		07/25/34		45,332
			Series - 2004 5 (Class A5B)
	1,025,000	g,i	ELP Commercial Mortgage Trust	LIBOR 1 M + 2.118%		2.515		11/15/38		992,186
			Series - 2021 ELP (Class E)
	10,000,000	g,i	Freddie Mac STACR REMIC Trust			1.749		01/25/34		9,837,688
			Series - 2021 DNA5 (Class M2)
	8,966,612	g,i	Freddie Mac Structured Agency Credit Risk Debt Notes			1.349		02/25/42		8,912,526
			Series - 2022 DNA2 (Class M1A)
	1,050,000	g	GS Mortgage Securities Corp II			3.419		10/10/32		1,052,402
			Series - 2017 SLP (Class A)
	3,000,000	g	GS Mortgage Securities Corp II			2.954		11/05/34		2,995,349
			Series - 2012 BWTR (Class A)
	5,956,000	g	GS Mortgage Securities Corp II			3.682		02/10/46		5,970,199
			Series - 2013 GC10 (Class B)
	2,598,000	g,i	GS Mortgage Securities Corp II			4.402		02/10/46		2,370,571
			Series - 2013 GC10 (Class D)
	2,000,000	g,i	GS Mortgage Securities Trust	LIBOR 1 M + 1.090%		1.490		10/15/31		1,969,722
			Series - 2018 HART (Class A)
	1,321,000	g,i	GS Mortgage Securities Trust			3.349		07/10/52		1,299,201
			Series - 2019 GC40 (Class DBA)
	9,000,000	g,i	GS Mortgage Securities Trust			3.501		07/10/52		8,797,374
			Series - 2019 GC40 (Class DBB)
	5,000,000	g,i	GS Mortgage Securities Trust			3.550		07/10/52		4,847,752
			Series - 2019 GC40 (Class DBC)
	3,581,451	i	GS Mortgage-Backed Securities Corp Trust			3.000		03/27/51		3,454,550
			Series - 2020 PJ5 (Class A4)
	349,309		IMC Home Equity Loan Trust (Step Bond)			5.432		08/20/29		343,280
			Series - 1998 3 (Class A7)
	73,286	i	Impac CMB Trust	LIBOR 1 M + 0.660%		1.117		03/25/35		73,945
			Series - 2004 11 (Class 2A1)

343

TIAA-CREF FUNDS - Short-Term Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	4,724,484	g,i	JP Morgan Chase Commercial Mortgage Securities Corp	LIBOR 1 M + 0.800%		1.197	%	04/15/38	$	4,648,958
			Series - 2021 MHC (Class A)
	2,000,000		JP Morgan Chase Commercial Mortgage Securities Corp			3.372		12/15/47		2,011,084
			Series - 2013 C10 (Class AS)
	600,000	g	JP Morgan Chase Commercial Mortgage Securities Trust			4.021		07/05/32		600,780
			Series - 2012 HSBC (Class C)
	3,843,000	i	JP Morgan Chase Commercial Mortgage Securities Trust			4.077		01/15/46		3,852,981
			Series - 2013 C13 (Class C)
	1,573,529	g,i	JP Morgan Chase Commercial Mortgage Securities Trust			5.013		02/15/46		1,537,332
			Series - 2011 C3 (Class B)
	2,300,000		JP Morgan Chase Commercial Mortgage Securities Trust			2.870		08/15/49		2,238,761
			Series - 2016 JP3 (Class A5)
	82,656	g,i	JP Morgan Mortgage Trust	LIBOR 1 M + 0.950%		1.407		10/25/49		82,827
			Series - 2019 INV1 (Class A11)
	250,694		JPMBB Commercial Mortgage Securities Trust			3.657		09/15/47		253,264
			Series - 2014 C23 (Class ASB)
	1,200,000	i	JPMBB Commercial Mortgage Securities Trust			4.622		08/15/48		1,212,566
			Series - 2015 C31 (Class B)
	7,000,000	g,i	MHC Commercial Mortgage Trust	LIBOR 1 M + 0.801%		1.198		04/15/38		6,886,105
			Series - 2021 MHC (Class A)
	5,000,000	g,i	MHC Commercial Mortgage Trust	LIBOR 1 M + 1.101%		1.498		04/15/38		4,915,257
			Series - 2021 MHC (Class B)
	1,840,629	g	Morgan Stanley Bank of America Merrill Lynch Trust			3.989		12/15/46		1,830,178
			Series - 2014 C19 (Class LNC1)
	3,986,816	g,i	Morgan Stanley Capital I Inc	LIBOR 1 M + 1.377%		1.774		11/15/23		3,867,006
			Series - 2021 ILP (Class C)
	1,500,000	g	MRCD Mortgage Trust			2.718		12/15/36		1,376,979
			Series - 2019 PARK (Class E)
	3,500,000	g	MRCD Mortgage Trust			2.718		12/15/36		3,236,683
			Series - 2019 PARK (Class D)
	7,530,000	g,i	MTN Commercial Mortgage Trust			1.946		03/15/39		7,483,197
			Series - 2022 LPFL (Class B)
	9,500,000	g,i	Natixis Commercial Mortgage Securities Trust	LIBOR 1 M + 1.500%		1.897		07/15/36		9,451,498
			Series - 2019 MILE (Class A)
	7,500,000	g,i	Natixis Commercial Mortgage Securities Trust	LIBOR 1 M + 2.200%		2.597		07/15/36		7,442,141
			Series - 2019 MILE (Class C)
	1,000,000	g	Natixis Commercial Mortgage Securities Trust			2.966		12/15/38		977,468
			Series - 2020 2PAC (Class A)
	504,513	g,i	New Residential Mortgage Loan Trust			3.750		05/28/52		503,158
			Series - 2015 1A (Class A3)

344

TIAA-CREF FUNDS - Short-Term Bond Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	593,286	g,i	New Residential Mortgage Loan Trust			3.750	%	05/25/54	$	588,759
			Series - 2014 2A (Class A3)
	385,004	g,i	New Residential Mortgage Loan Trust			3.750		11/25/54		384,204
			Series - 2014 3A (Class AFX3)
	646,375	g,i	New Residential Mortgage Loan Trust			3.750		03/25/56		646,060
			Series - 2016 1A (Class A1)
	1,111,456	g,i	New Residential Mortgage Loan Trust			4.000		12/25/57		1,120,556
			Series - 2018 1A (Class A1A)
	657,458	g,i	New Residential Mortgage Loan Trust			4.750		12/25/57		667,488
			Series - 2018 5A (Class A1)
	957,207	g,i	OBX Trust	LIBOR 1 M + 0.650%		1.107		06/25/57		945,351
			Series - 2018 1 (Class A2)
	7,000,000	g,i	OPG Trust	LIBOR 1 M + 0.713%		0.803		10/15/36		6,765,265
			Series - 2021 PORT (Class B)
	6,000,000	g,i	OPG Trust	LIBOR 1 M + 1.529%		1.926		10/15/36		5,683,615
			Series - 2021 PORT (Class E)
	2,000,000	g,i	PKHL Commercial Mortgage Trust	LIBOR 1 M + 2.000%		2.397		07/15/38		1,933,934
			Series - 2021 MF (Class D)
	2,000,000	g	RBS Commercial Funding, Inc Trust			3.511		03/11/31		1,993,641
			Series - 2013 SMV (Class B)
	7,886,000	g,i	RLGH Trust	LIBOR 1 M + 1.165%		1.562		04/15/36		7,785,844
			Series - 2021 TROT (Class B)
	55,610	g,i	Sequoia Mortgage Trust			3.500		03/25/50		55,558
			Series - 2020 2 (Class A4)
	3,858,362	g,i	SMR Mortgage Trust			2.701		02/15/39		3,812,186
			Series - 2022 IND (Class B)
	2,000,000	g,i	SREIT Trust	LIBOR 1 M + 1.171%		1.568		11/15/36		1,959,825
			Series - 2021 MFP2 (Class B)
	1,283,597	i	Structured Adjustable Rate Mortgage Loan Trust	LIBOR 1 M + 0.370%		0.827		07/25/34		1,276,004
			Series - 2004 9XS (Class A)
	859,090	g,i	UBS-Citigroup Commercial Mortgage Trust			6.265		01/10/45		858,021
			Series - 2011 C1 (Class B)
	2,930,968	g	Verus Securitization Trust			2.938		07/25/59		2,931,444
			Series - 2019 3 (Class A2)
	175,000	g,i	Verus Securitization Trust			3.139		07/25/59		174,859
			Series - 2019 3 (Class M1)
	4,856,841	g	Verus Securitization Trust			2.417		01/25/60		4,837,037
			Series - 2020 1 (Class A1)
	4,576,906	g	Verus Securitization Trust			2.724		01/25/60		4,551,091
			Series - 2020 1 (Class A3)
	2,278,061	g	Verus Securitization Trust			2.321		05/25/65		2,235,933
			Series - 2020 4 (Class A3)
	9,228,634	g,i	Verus Securitization Trust			2.240		10/25/66		8,703,734
			Series - 2021 7 (Class A3)
	1,274,000		Wells Fargo Commercial Mortgage Trust			3.539		10/15/45		1,278,269
			Series - 2012 LC5 (Class AS)
	1,482,000		Wells Fargo Commercial Mortgage Trust			4.142		10/15/45		1,488,992
			Series - 2012 LC5 (Class B)
	896,000	g,i	Wells Fargo Commercial Mortgage Trust			4.747		10/15/45		895,516
			Series - 2012 LC5 (Class D)

345

TIAA-CREF FUNDS - Short-Term Bond Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	1,000,000	i	WFRBS		3.910	%	05/15/45	$	982,583
			Series - 2013 C13 (Class C)
	2,750,000	i	WFRBS Commercial Mortgage Trust		4.182		03/15/45		2,754,202
			Series - 2013 C11 (Class C)
	530,000	i	WFRBS Commercial Mortgage Trust		4.153		08/15/46		532,129
			Series - 2013 C15 (Class A4)
	2,500,000	i	WFRBS Commercial Mortgage Trust		4.204		11/15/47		2,377,597
			Series - 2014 C24 (Class B)
			TOTAL OTHER MORTGAGE BACKED						310,206,794
			TOTAL STRUCTURED ASSETS						532,758,200
			(Cost $551,504,154)
			TOTAL BONDS						1,893,954,313
			(Cost $1,945,125,934)
SHORT-TERM INVESTMENTS - 3.9%
GOVERNMENT AGENCY DEBT - 1.0%
	10,000,000		Federal Home Loan Bank (FHLB)		0.000		04/01/22		10,000,000
	10,000,000		FHLB		0.000		04/08/22		9,999,670
			TOTAL GOVERNMENT AGENCY DEBT						19,999,670
REPURCHASE AGREEMENT - 1.8%
	36,180,000	r	Fixed Income Clearing Corp (FICC)		0.250		04/01/22		36,180,000
			TOTAL REPURCHASE AGREEMENT						36,180,000
TREASURY DEBT - 0.1%
	1,800,000		United States Treasury Bill		0.000		06/16/22		1,798,423
			TOTAL TREASURY DEBT						1,798,423
SHARES			COMPANY
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 1.0%
	18,922,258	c	State Street Navigator Securities Lending Government Money Market Portfolio		0.290				18,922,258
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES						18,922,258
			TOTAL SHORT-TERM INVESTMENTS						76,900,351
			(Cost $76,901,684)
			TOTAL INVESTMENTS - 100.8%						2,011,962,059
			(Cost $2,063,562,851)
			OTHER ASSETS & LIABILITIES, NET - (0.8)%						(15,244,142	)
			NET ASSETS - 100.0%					$	1,996,717,917

346

TIAA-CREF FUNDS - Short-Term Bond Fund

LIBOR	London Interbank Offered Rate
M	Month
REIT	Real Estate Investment Trust
REMIC	Real Estate Mortgage Investment Conduit
SOFR	Secure Overnight Financing Rate
*	Non-income producing
†	Security is categorized as Level 3 in the fair value hierarchy.
c	Investments made with cash collateral received from securities on loan.
d	All or a portion of these securities have been segregated to cover margin requirements on open futures contracts.
e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $23,903,262.
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 3/31/22, the aggregate value of these securities is $731,995,700 or 36.7% 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.
k	Principal amount for interest accrual purposes is periodically adjusted based on changes in the Consumer Price Index.
r	Agreement with Fixed Income Clearing Corporation, 0.250% dated 3/31/22 to be repurchased at $36,180,000 on 4/1/22, collateralized by Government Agency Securities, with coupon rate 2.375% and maturity date 3/31/29, valued at $36,903,690.

Futures contracts outstanding as of March 31, 2022 were as follows:

Description	Number of long (short) contracts			Expiration date	Notional amount			Value			Unrealized appreciation (depreciation)
US Long Bond (CBT)		(38	)	06/21/22	$	(5,865,580	)	$	(5,702,375	)	$	163,205
US 10-Year Note (CBT)		(542	)	06/21/22		(68,407,136	)		(66,598,250	)		1,808,886
US 10 Year Ultra (CBT)		(170	)	06/21/22		(23,734,264	)		(23,029,688	)		704,576
US 5 Year Note (CBT)		(245	)	06/30/22		(28,772,081	)		(28,098,437	)		673,644
Total		(995	)		$	(126,779,061	)	$	(123,428,750	)	$	3,350,311

347

TIAA-CREF FUNDS - Short-Term Bond Index Fund

TIAA-CREF FUNDS
SHORT-TERM BOND INDEX FUND
SCHEDULE OF INVESTMENTS
March 31, 2022

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
BONDS - 99.7%
CORPORATE BONDS - 23.2%
AUTOMOBILES & COMPONENTS - 0.2%
$	400,000		Aptiv plc		2.396	%	02/18/25	$	389,648
	200,000		General Motors Co		5.400		10/02/23		206,936
	225,000		Genuine Parts Co		1.750		02/01/25		214,841
	1,000,000		Honda Motor Co Ltd		2.271		03/10/25		982,980
	500,000		Toyota Motor Corp		0.681		03/25/24		482,636
			TOTAL AUTOMOBILES & COMPONENTS						2,277,041
BANKS - 6.2%
	1,000,000		Asian Development Bank		1.625		03/15/24		986,080
	200,000		Banco Bilbao Vizcaya Argentaria S.A.		0.875		09/18/23		194,309
	400,000		Banco Santander S.A.		3.125		02/23/23		402,876
	200,000		Banco Santander S.A.		3.848		04/12/23		202,604
	1,000,000		Banco Santander S.A.		0.701		06/30/24		970,793
	600,000		Banco Santander S.A.		3.496		03/24/25		600,390
	500,000		Bank of America Corp		1.486		05/19/24		492,699
	500,000		Bank of America Corp		0.523		06/14/24		485,989
	1,200,000		Bank of America Corp		3.864		07/23/24		1,213,566
	700,000		Bank of America Corp		4.200		08/26/24		717,013
	1,250,000		Bank of America Corp		0.810		10/24/24		1,209,392
	1,000,000		Bank of America Corp		1.843		02/04/25		977,729
	1,000,000		Bank of America Corp		3.458		03/15/25		1,006,033
	1,000,000		Bank of America Corp		0.976		04/22/25		958,442
	750,000		Bank of America Corp		0.981		09/25/25		710,857
	1,000,000		Bank of America Corp		2.456		10/22/25		982,601
	2,500,000	i	Bank of America Corp		1.530		12/06/25		2,390,747
	500,000		Bank of America Corp		3.384		04/02/26		499,327
	250,000		Bank of Montreal		0.450		12/08/23		241,410
	1,500,000		Bank of Montreal		0.625		07/09/24		1,425,404
	1,000,000		Bank of Montreal		4.338		10/05/28		1,015,522
	1,000,000		Bank of Nova Scotia		0.700		04/15/24		959,207
	200,000		Bank of Nova Scotia		4.650		N/A‡		193,050
	1,000,000		Barclays plc		4.375		09/11/24		1,013,100
	500,000		Barclays plc		1.007		12/10/24		480,035
	750,000		Barclays plc		3.650		03/16/25		750,499
	500,000		BNP Paribas S.A.		4.250		10/15/24		511,184
	400,000		Canadian Imperial Bank of Commerce		0.950		06/23/23		392,526
	750,000		Canadian Imperial Bank of Commerce		0.500		12/14/23		724,229
	750,000		Canadian Imperial Bank of Commerce		1.000		10/18/24		712,374
	1,250,000		Citigroup, Inc		1.678		05/15/24		1,239,741
	1,000,000		Citigroup, Inc		4.000		08/05/24		1,022,240
	750,000		Citigroup, Inc		0.776		10/30/24		724,561
	1,000,000		Citigroup, Inc		0.981		05/01/25		953,277

348

TIAA-CREF FUNDS - Short-Term Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE
$	600,000	Citigroup, Inc		1.281	%	11/03/25	$	570,965
	1,500,000	Citigroup, Inc		2.014		01/25/26		1,444,018
	750,000	Citigroup, Inc		3.290		03/17/26		747,469
	300,000	Comerica, Inc		3.700		07/31/23		303,981
	1,000,000	Cooperatieve Rabobank UA		0.375		01/12/24		960,998
	500,000	Discover Bank		3.350		02/06/23		504,807
	300,000	Discover Bank		2.450		09/12/24		294,724
	250,000	Discover Bank		4.682		08/09/28		253,513
	300,000	Fifth Third Bancorp		1.625		05/05/23		297,322
	1,000,000	Fifth Third Bancorp		3.650		01/25/24		1,012,327
	250,000	First Horizon National Corp		3.550		05/26/23		251,461
	250,000	First Republic Bank		1.912		02/12/24		247,747
	175,000	FNB Corp		2.200		02/24/23		173,955
	380,000	HSBC Holdings plc		3.033		11/22/23		380,947
	500,000	HSBC Holdings plc		4.250		03/14/24		507,309
	800,000	HSBC Holdings plc		3.950		05/18/24		807,867
	800,000	HSBC Holdings plc		0.732		08/17/24		773,742
	1,000,000	HSBC Holdings plc		1.162		11/22/24		965,560
	650,000	HSBC Holdings plc		0.976		05/24/25		617,071
	1,000,000	HSBC Holdings plc		2.999		03/10/26		980,457
	300,000	Huntington Bancshares, Inc		2.625		08/06/24		297,255
	250,000	Huntington National Bank		1.800		02/03/23		249,169
	300,000	Industrial & Commercial Bank of China Ltd		2.957		11/08/22		300,561
	400,000	ING Groep NV		4.100		10/02/23		406,736
	1,000,000	JPMorgan Chase & Co		0.697		03/16/24		981,004
	1,000,000	JPMorgan Chase & Co		3.559		04/23/24		1,009,288
	500,000	JPMorgan Chase & Co		1.514		06/01/24		493,236
	700,000	JPMorgan Chase & Co		3.797		07/23/24		707,966
	750,000	JPMorgan Chase & Co		3.875		09/10/24		766,095
	500,000	JPMorgan Chase & Co		0.653		09/16/24		486,184
	750,000	JPMorgan Chase & Co		4.023		12/05/24		762,006
	300,000	JPMorgan Chase & Co		0.563		02/16/25		286,704
	1,000,000	JPMorgan Chase & Co		0.824		06/01/25		953,571
	1,000,000	JPMorgan Chase & Co		0.969		06/23/25		954,762
	500,000	JPMorgan Chase & Co		0.768		08/09/25		473,934
	500,000	JPMorgan Chase & Co		2.301		10/15/25		489,693
	1,500,000	JPMorgan Chase & Co		1.561		12/10/25		1,435,786
	1,000,000	JPMorgan Chase & Co		2.595		02/24/26		980,724
	750,000	KeyBank NA		0.423		01/03/24		738,968
	150,000	Lloyds Banking Group plc		1.326		06/15/23		149,626
	300,000	Lloyds Banking Group plc		4.050		08/16/23		305,340
	300,000	Lloyds Banking Group plc		2.907		11/07/23		300,421
	1,000,000	Lloyds Banking Group plc		0.695		05/11/24		974,056
	1,000,000	Mitsubishi UFJ Financial Group, Inc		3.407		03/07/24		1,010,242
	600,000	Mitsubishi UFJ Financial Group, Inc		0.848		09/15/24		581,495
	600,000	Mitsubishi UFJ Financial Group, Inc		2.193		02/25/25		580,077
	1,500,000	Mitsubishi UFJ Financial Group, Inc		0.953		07/19/25		1,421,796
	750,000	Mizuho Financial Group, Inc		0.849		09/08/24		727,012
	300,000	Mizuho Financial Group, Inc		2.839		07/16/25		296,581
	1,000,000	Mizuho Financial Group, Inc		2.651		05/22/26		973,269
	500,000	National Bank of Canada		0.750		08/06/24		473,954

349

TIAA-CREF FUNDS - Short-Term Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE
$	250,000	National Bank of Canada		0.550	%	11/15/24	$	240,532
	1,250,000	NatWest Group plc		2.359		05/22/24		1,239,845
	500,000	Nordic Investment Bank		2.625		04/04/25		500,565
	500,000	PNC Bank NA		3.500		06/08/23		505,967
	500,000	PNC Financial Services Group, Inc		3.500		01/23/24		507,050
	500,000	Royal Bank of Canada		0.500		10/26/23		484,499
	750,000	Royal Bank of Canada		0.425		01/19/24		723,794
	1,000,000	Royal Bank of Canada		0.650		07/29/24		950,930
	500,000	Royal Bank of Canada		0.750		10/07/24		474,293
	300,000	Royal Bank of Scotland Group plc		3.498		05/15/23		300,417
	1,000,000	Royal Bank of Scotland Group plc		4.519		06/25/24		1,015,060
	500,000	Royal Bank of Scotland Group plc		4.269		03/22/25		505,799
	200,000	Santander Holdings USA, Inc		3.400		01/18/23		201,205
	150,000	Santander Holdings USA, Inc		3.244		10/05/26		146,218
	450,000	Santander UK Group Holdings plc		4.796		11/15/24		460,220
	1,000,000	Santander UK Group Holdings plc		1.089		03/15/25		951,164
	1,500,000	State Street Corp		1.746		02/06/26		1,444,989
	502,000	Sumitomo Mitsui Financial Group, Inc		3.102		01/17/23		506,237
	1,000,000	Sumitomo Mitsui Financial Group, Inc		0.508		01/12/24		961,591
	300,000	Sumitomo Mitsui Financial Group, Inc		2.696		07/16/24		297,094
	500,000	Sumitomo Mitsui Financial Group, Inc		2.448		09/27/24		491,172
	1,000,000	Toronto-Dominion Bank		0.550		03/04/24		962,306
	1,000,000	Toronto-Dominion Bank		0.700		09/10/24		949,065
	500,000	Toronto-Dominion Bank		1.250		12/13/24		480,407
	1,000,000	Truist Bank		2.636		09/17/29		983,515
	750,000	Truist Financial Corp		3.750		12/06/23		764,088
	1,000,000	US Bancorp		2.400		07/30/24		993,420
	500,000	US Bank NA		3.400		07/24/23		506,686
	900,000	Wells Fargo & Co		4.125		08/15/23		920,046
	1,250,000	Wells Fargo & Co		4.480		01/16/24		1,287,239
	400,000	Wells Fargo & Co		1.654		06/02/24		395,200
	1,000,000	Wells Fargo & Co		0.805		05/19/25		954,650
	500,000	Wells Fargo & Co		2.406		10/30/25		489,465
	1,000,000	Wells Fargo & Co		2.164		02/11/26		967,268
	400,000	Westpac Banking Corp		2.000		01/13/23		400,311
	1,000,000	Westpac Banking Corp		1.019		11/18/24		957,641
		TOTAL BANKS						84,943,505
CAPITAL GOODS - 1.4%
	350,000	Air Lease Corp		2.250		01/15/23		350,127
	300,000	Air Lease Corp		3.875		07/03/23		303,025
	750,000	Air Lease Corp		0.700		02/15/24		716,476
	1,000,000	Air Lease Corp		0.800		08/18/24		941,781
	800,000	Boeing Co		4.508		05/01/23		813,569
	500,000	Boeing Co		1.950		02/01/24		488,849
	1,250,000	Boeing Co		1.433		02/04/24		1,209,011
	1,000,000	Carlisle Cos, Inc		0.550		09/01/23		968,815
	300,000	Caterpillar Financial Services Corp		0.450		09/14/23		292,428
	500,000	Caterpillar Financial Services Corp		0.950		01/10/24		487,082
	1,000,000	Caterpillar Financial Services Corp		0.450		05/17/24		956,532

350

TIAA-CREF FUNDS - Short-Term Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	750,000		Caterpillar Financial Services Corp		0.600	%	09/13/24	$	714,737
	100,000		CNH Industrial Capital LLC		1.950		07/02/23		98,967
	200,000		CNH Industrial Capital LLC		4.200		01/15/24		203,970
	200,000		CNH Industrial NV		4.500		08/15/23		204,093
	460,000		General Dynamics Corp		3.375		05/15/23		465,494
	500,000	g	Huntington Ingalls Industries, Inc		0.670		08/16/23		485,106
	525,000		John Deere Capital Corp		1.200		04/06/23		520,634
	500,000		John Deere Capital Corp		0.400		10/10/23		486,828
	500,000		John Deere Capital Corp		0.900		01/10/24		486,524
	1,000,000		John Deere Capital Corp		0.450		01/17/24		966,143
	1,000,000		John Deere Capital Corp		0.450		06/07/24		952,410
	500,000	e	John Deere Capital Corp		0.625		09/10/24		478,485
	500,000		John Deere Capital Corp		1.250		01/10/25		481,278
	750,000		John Deere Capital Corp		2.125		03/07/25		737,875
	500,000		L3Harris Technologies, Inc		3.850		06/15/23		507,004
	300,000		Lennox International, Inc		3.000		11/15/23		300,334
	750,000		Quanta Services, Inc		0.950		10/01/24		711,063
	500,000		Rockwell Automation, Inc		0.350		08/15/23		486,114
	1,000,000		Stanley Black & Decker, Inc		2.300		02/24/25		981,511
	500,000		Teledyne Technologies, Inc		0.650		04/01/23		491,470
	500,000		Teledyne Technologies, Inc		0.950		04/01/24		479,965
	200,000		Wabtec Corp		4.400		03/15/24		203,690
			TOTAL CAPITAL GOODS						18,971,390
COMMERCIAL & PROFESSIONAL SERVICES - 0.1%
	500,000		International Bank for Reconstruction & Development		2.250		03/28/24		498,175
	100,000		Leidos, Inc		2.950		05/15/23		100,215
	200,000		RELX Capital, Inc		3.500		03/16/23		201,714
	164,000		Republic Services, Inc		4.750		05/15/23		167,062
	300,000		Republic Services, Inc		2.500		08/15/24		296,812
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES						1,263,978
CONSUMER DURABLES & APPAREL - 0.0%
	250,000		Brunswick Corp		0.850		08/18/24		236,328
	500,000		Lennar Corp		4.875		12/15/23		513,596
			TOTAL CONSUMER DURABLES & APPAREL						749,924
CONSUMER SERVICES - 0.2%
	500,000		CommonSpirit Health		2.760		10/01/24		496,066
	200,000		Expedia Group, Inc		3.600		12/15/23		201,654
	300,000		Expedia Group, Inc		4.500		08/15/24		307,927
	100,000		Hyatt Hotels Corp		1.300		10/01/23		97,449
	250,000		Hyatt Hotels Corp		1.800		10/01/24		240,535
	500,000		Las Vegas Sands Corp		3.200		08/08/24		477,345
	500,000		Marriott International, Inc		3.600		04/15/24		505,128
	300,000		McDonald’s Corp		3.350		04/01/23		303,718
	200,000		Starbucks Corp		3.100		03/01/23		201,808
			TOTAL CONSUMER SERVICES						2,831,630

351

TIAA-CREF FUNDS - Short-Term Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
DIVERSIFIED FINANCIALS - 5.1%
$	250,000		AerCap Ireland Capital DAC		4.500	%	09/15/23	$	251,880
	1,000,000		AerCap Ireland Capital DAC		1.150		10/29/23		957,239
	500,000		AerCap Ireland Capital DAC		3.150		02/15/24		491,939
	300,000		AerCap Ireland Capital DAC		2.875		08/14/24		291,759
	500,000		AerCap Ireland Capital DAC		1.650		10/29/24		472,205
	500,000		AerCap Ireland Capital DAC		1.750		10/29/24		471,141
	200,000		Ally Financial, Inc		3.050		06/05/23		200,730
	800,000		Ally Financial, Inc		1.450		10/02/23		781,214
	300,000		American Express Co		3.400		02/27/23		303,626
	1,000,000		American Express Co		0.750		11/03/23		975,377
	600,000		American Express Co		2.500		07/30/24		597,006
	1,500,000		American Express Co		2.250		03/04/25		1,473,008
	200,000		American Honda Finance Corp		1.950		05/10/23		199,058
	750,000		American Honda Finance Corp		0.875		07/07/23		737,237
	300,000		American Honda Finance Corp		0.650		09/08/23		292,385
	750,000		American Honda Finance Corp		0.550		07/12/24		715,264
	1,000,000		American Honda Finance Corp		0.750		08/09/24		952,679
	500,000		American Honda Finance Corp		1.500		01/13/25		481,755
	300,000		Ares Capital Corp		3.500		02/10/23		301,599
	500,000		Bank of , Nova Scotia		2.440		03/11/24		497,744
	1,000,000		Bank of , Nova Scotia		0.650		07/31/24		951,124
	500,000	e	Bank of , Nova Scotia		1.450		01/10/25		479,995
	500,000		Bank of Montreal		2.150		03/08/24		495,040
	500,000		Bank of Montreal		1.500		01/10/25		479,003
	750,000		Bank of New York Mellon Corp		0.350		12/07/23		725,121
	1,000,000		Bank of New York Mellon Corp		0.500		04/26/24		957,376
	750,000		Bank of New York Mellon Corp		0.850		10/25/24		717,822
	1,000,000	h	Canadian Imperial Bank of Commerce		3.300		04/07/25		999,119
	500,000		Capital One Financial Corp		2.600		05/11/23		501,480
	750,000		Capital One Financial Corp		3.300		10/30/24		754,082
	1,000,000		Capital One Financial Corp		1.343		12/06/24		969,721
	1,000,000		Capital One Financial Corp		2.636		03/03/26		978,501
	200,000		Celanese US Holdings LLC		3.500		05/08/24		200,514
	1,000,000		Charles Schwab Corp		0.750		03/18/24		966,749
	1,000,000		Cooperatieve Rabobank UA		1.375		01/10/25		956,753
	1,500,000		Credit Suisse AG.		0.520		08/09/23		1,459,326
	750,000		Credit Suisse AG.		0.495		02/02/24		717,577
	1,000,000		Credit Suisse Group Funding Guernsey Ltd		3.750		03/26/25		996,300
	250,000		Deutsche Bank AG.		3.950		02/27/23		252,421
	1,000,000		Deutsche Bank AG.		0.962		11/08/23		969,519
	600,000		Deutsche Bank AG.		0.898		05/28/24		571,289
	300,000		Deutsche Bank AG.		2.222		09/18/24		293,435
	1,000,000		Deutsche Bank AG.		1.447		04/01/25		955,066
	500,000		FS KKR Capital Corp		1.650		10/12/24		471,252
	300,000		General Motors Financial Co, Inc		3.250		01/05/23		302,549
	1,000,000		General Motors Financial Co, Inc		1.700		08/18/23		989,218
	1,000,000		General Motors Financial Co, Inc		1.050		03/08/24		962,430
	400,000		General Motors Financial Co, Inc		1.200		10/15/24		379,718
	1,000,000		General Motors Financial Co, Inc		2.900		02/26/25		976,771
	709,000		Goldman Sachs Group, Inc		3.200		02/23/23		715,302
	750,000		Goldman Sachs Group, Inc		0.523		03/08/23		737,950
	1,000,000		Goldman Sachs Group, Inc		1.217		12/06/23		975,828
	750,000		Goldman Sachs Group, Inc		0.673		03/08/24		734,068
	750,000		Goldman Sachs Group, Inc		3.000		03/15/24		749,050

352

TIAA-CREF FUNDS - Short-Term Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	1,000,000		Goldman Sachs Group, Inc		0.657	%	09/10/24	$	967,183
	500,000		Goldman Sachs Group, Inc		0.925		10/21/24		484,651
	1,000,000		Goldman Sachs Group, Inc		1.757		01/24/25		974,902
	1,000,000		Goldman Sachs Group, Inc		3.272		09/29/25		1,001,893
	500,000		ING Groep NV		3.869		03/28/26		502,425
	750,000		J Paul Getty Trust		0.391		01/01/24		722,550
	3,000,000		Kreditanstalt fuer Wiederaufbau		1.250		01/31/25		2,894,430
	1,000,000		Lloyds Banking Group plc		3.511		03/18/26		995,099
	1,480,000		Morgan Stanley		3.125		01/23/23		1,494,339
	1,000,000		Morgan Stanley		0.529		01/25/24		983,730
	500,000		Morgan Stanley		0.731		04/05/24		489,694
	1,000,000		Morgan Stanley		3.737		04/24/24		1,009,896
	1,500,000		Morgan Stanley		0.791		01/22/25		1,439,951
	1,000,000		Morgan Stanley		0.790		05/30/25		950,034
	2,250,000	i	Morgan Stanley		1.164		10/21/25		2,137,363
	1,000,000		Morgan Stanley		2.630		02/18/26		980,940
	1,000,000		National Rural Utilities Cooperative Finance Corp		0.350		02/08/24		958,161
	500,000		National Rural Utilities Cooperative Finance Corp		1.000		10/18/24		476,930
	500,000		National Rural Utilities Cooperative Finance Corp		1.875		02/07/25		484,399
	1,300,000		Oesterreichische Kontrollbank AG.		2.875		03/13/23		1,312,403
	750,000		Oesterreichische Kontrollbank AG.		0.500		09/16/24		714,131
	1,000,000		PACCAR Financial Corp		0.350		02/02/24		963,309
	300,000		PACCAR Financial Corp		0.500		08/09/24		286,405
	750,000		PACCAR Financial Corp		0.900		11/08/24		717,103
	300,000		PACCAR Financial Corp		2.850		04/07/25		299,922
	1,000,000	e	Royal Bank of Canada		1.600		01/21/25		961,185
	160,000		Shire Acquisitions Investments Ireland DAC		2.875		09/23/23		160,444
	300,000		State Street Corp		2.653		05/15/23		300,068
	500,000		Synchrony Financial		4.375		03/19/24		509,280
	500,000		Toronto-Dominion Bank		2.350		03/08/24		497,008
	500,000	e	Toronto-Dominion Bank		1.450		01/10/25		478,902
	500,000		Toyota Motor Credit Corp		0.500		08/14/23		487,999
	500,000		Toyota Motor Credit Corp		1.350		08/25/23		493,836
	1,000,000	e	Toyota Motor Credit Corp		0.450		01/11/24		965,773
	500,000		Toyota Motor Credit Corp		2.500		03/22/24		499,981
	1,000,000		Toyota Motor Credit Corp		0.500		06/18/24		954,526
	750,000		Toyota Motor Credit Corp		0.625		09/13/24		712,731
	500,000		Toyota Motor Credit Corp		1.450		01/13/25		481,696
	200,000		Unilever Capital Corp		3.125		03/22/23		202,133
	300,000		Unilever Capital Corp		0.375		09/14/23		292,352
			TOTAL DIVERSIFIED FINANCIALS						69,026,071
ENERGY - 1.6%
	1,000,000		Baker Hughes Holdings LLC		1.231		12/15/23		976,071
	500,000		BP Capital Markets America, Inc		2.750		05/10/23		502,278
	400,000		BP Capital Markets plc		3.814		02/10/24		408,340
	1,000,000		BP Capital Markets plc		3.506		03/17/25		1,019,037
	250,000		Canadian Natural Resources Ltd		2.950		01/15/23		251,218
	200,000		Canadian Natural Resources Ltd		3.800		04/15/24		202,811
	750,000		ConocoPhillips Co		2.125		03/08/24		743,111
	750,000		ConocoPhillips Co		2.400		03/07/25		741,368
	500,000	g	Coterra Energy, Inc		4.375		06/01/24		510,048
	200,000		Enable Midstream Partners LP		3.900		05/15/24		201,182

353

TIAA-CREF FUNDS - Short-Term Bond Index Fund

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE
$	500,000	Enbridge, Inc		0.550	%	10/04/23	$	484,556
	800,000	Energy Transfer Operating LP		4.250		03/15/23		808,713
	200,000	Energy Transfer Operating LP		4.200		09/15/23		202,635
	500,000	Energy Transfer Operating LP		5.875		01/15/24		520,905
	200,000	Energy Transfer Operating LP		4.500		04/15/24		204,634
	300,000	Enterprise Products Operating LLC		3.350		03/15/23		302,239
	300,000	EOG Resources, Inc		2.625		03/15/23		300,621
	1,000,000	Equinor ASA		3.700		03/01/24		1,019,873
	375,000	Exxon Mobil Corp		1.902		08/16/22		375,919
	600,000	Exxon Mobil Corp		1.571		04/15/23		598,075
	600,000	Exxon Mobil Corp		2.709		03/06/25		599,526
	200,000	Halliburton Co		3.500		08/01/23		201,813
	200,000	HollyFrontier Corp		2.625		10/01/23		197,958
	750,000	Kinder Morgan Energy Partners LP		4.250		09/01/24		767,899
	400,000	Kinder Morgan, Inc		3.150		01/15/23		402,109
	300,000	MPLX LP		3.375		03/15/23		302,245
	750,000	MPLX LP		4.000		02/15/25		761,666
	500,000	ONEOK, Inc		2.750		09/01/24		496,889
	200,000	Phillips 66		3.700		04/06/23		202,781
	325,000	Phillips 66		0.900		02/15/24		314,503
	300,000	Plains All American Pipeline LP		3.850		10/15/23		302,547
	500,000	Sabine Pass Liquefaction LLC		5.625		04/15/23		511,574
	500,000	Sabine Pass Liquefaction LLC		5.750		05/15/24		523,319
	750,000	Sabine Pass Liquefaction LLC		5.625		03/01/25		792,974
	400,000	Schlumberger Investment S.A.		3.650		12/01/23		406,459
	500,000	Shell International Finance BV		0.375		09/15/23		487,041
	500,000	Spectra Energy Partners LP		4.750		03/15/24		514,492
	300,000	Suncor Energy, Inc		2.800		05/15/23		300,443
	300,000	Total Capital Canada Ltd		2.750		07/15/23		301,235
	500,000	Total Capital International S.A.		3.700		01/15/24		508,485
	250,000	TransCanada PipeLines Ltd		3.750		10/16/23		253,578
	750,000	TransCanada PipeLines Ltd		1.000		10/12/24		712,544
	750,000	Williams Cos, Inc		4.550		06/24/24		770,431
	300,000	Williams Partners LP		4.500		11/15/23		306,239
		TOTAL ENERGY						21,312,384
FOOD & STAPLES RETAILING - 0.1%
	1,000,000	Walgreens Boots Alliance, Inc		0.950		11/17/23		974,420
	260,000	Walmart, Inc		2.350		12/15/22		261,147
	300,000	Walmart, Inc		3.400		06/26/23		305,112
		TOTAL FOOD & STAPLES RETAILING						1,540,679
FOOD, BEVERAGE & TOBACCO - 0.7%
	600,000	BAT Capital Corp		3.222		08/15/24		599,780
	500,000	BAT Capital Corp		2.789		09/06/24		493,431
	500,000	Campbell Soup Co		3.650		03/15/23		505,869
	131,000	ConAgra Brands, Inc		3.200		01/25/23		131,927
	250,000	ConAgra Brands, Inc		0.500		08/11/23		242,002
	500,000	Constellation Brands, Inc		4.750		11/15/24		520,166
	500,000	Diageo Capital plc		2.125		10/24/24		491,515
	250,000	General Mills, Inc		3.700		10/17/23		254,043
	1,000,000	Hormel Foods Corp		0.650		06/03/24		960,026

354

TIAA-CREF FUNDS - Short-Term Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	400,000		Kellogg Co		2.650	%	12/01/23	$	400,091
	151,000		Keurig Dr Pepper, Inc		4.057		05/25/23		153,623
	400,000		Keurig Dr Pepper, Inc		3.130		12/15/23		403,192
	1,000,000		Keurig Dr Pepper, Inc		0.750		03/15/24		963,168
	700,000		Mondelez International, Inc		2.125		03/17/24		694,855
	400,000		PepsiCo, Inc		2.750		03/01/23		403,075
	750,000		PepsiCo, Inc		0.750		05/01/23		739,193
	500,000		PepsiCo, Inc		0.400		10/07/23		488,274
	750,000		Philip Morris International, Inc		1.125		05/01/23		741,134
	200,000		Philip Morris International, Inc		2.125		05/10/23		199,418
	200,000		Reynolds American, Inc		4.850		09/15/23		204,875
			TOTAL FOOD, BEVERAGE & TOBACCO						9,589,657
HEALTH CARE EQUIPMENT & SERVICES - 0.7%
	500,000		Abbott Laboratories		3.400		11/30/23		508,271
	500,000		AmerisourceBergen Corp		3.400		05/15/24		504,670
	500,000		Anthem, Inc		0.450		03/15/23		491,736
	750,000	g	Baxter International, Inc		0.868		12/01/23		726,195
	750,000	g	Baxter International, Inc		1.322		11/29/24		716,167
	516,000		Cigna Corp		3.750		07/15/23		523,533
	200,000		Cigna Corp		0.613		03/15/24		191,798
	500,000		CVS Health Corp		2.625		08/15/24		498,351
	300,000		HCA, Inc		4.750		05/01/23		307,489
	1,000,000		HCA, Inc		5.000		03/15/24		1,036,562
	700,000		Humana, Inc		0.650		08/03/23		682,912
	750,000		Laboratory Corp of America Holdings		3.600		02/01/25		757,526
	750,000		Stryker Corp		0.600		12/01/23		727,436
	1,500,000		UnitedHealth Group, Inc		0.550		05/15/24		1,436,924
	575,000		Zimmer Biomet Holdings, Inc		1.450		11/22/24		551,457
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						9,661,027
INSURANCE - 0.3%
	500,000		Aetna, Inc		2.800		06/15/23		501,853
	200,000		Allstate Corp		5.750		08/15/53		199,000
	1,000,000		American International Group, Inc		4.125		02/15/24		1,022,515
	300,000		Brown & Brown, Inc		4.200		09/15/24		305,925
	500,000	g	Corebridge Financial, Inc		3.500		04/04/25		499,605
	1,000,000	g	Jackson Financial, Inc		1.125		11/22/23		969,896
	500,000		Marsh & McLennan Cos, Inc		3.500		03/10/25		503,581
	300,000		Prudential Financial, Inc		5.875		09/15/42		302,250
	500,000		Prudential Financial, Inc		5.625		06/15/43		503,125
			TOTAL INSURANCE						4,807,750
MATERIALS - 0.5%
	750,000		Avery Dennison Corp		0.850		08/15/24		713,221
	325,000		Berry Global, Inc		0.950		02/15/24		311,137
	200,000		Celulosa Arauco y Constitucion S.A.		4.500		08/01/24		205,502
	900,000		DowDuPont, Inc		4.205		11/15/23		920,954
	1,000,000	e	Ecolab, Inc		0.900		12/15/23		974,518
	285,000		LyondellBasell Industries NV		5.750		04/15/24		297,483

355

TIAA-CREF FUNDS - Short-Term Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	1,000,000		Martin Marietta Materials, Inc		0.650	%	07/15/23	$	976,246
	300,000		Mosaic Co		4.250		11/15/23		306,353
	300,000		Nutrien Ltd		1.900		05/13/23		297,743
	300,000		PPG Industries, Inc		2.400		08/15/24		295,698
	15,000		Sherwin-Williams Co		2.750		06/01/22		15,020
	1,000,000		Sonoco Products Co		1.800		02/01/25		958,285
	200,000		Westlake Chemical Corp		0.875		08/15/24		191,786
			TOTAL MATERIALS						6,463,946
MEDIA & ENTERTAINMENT - 0.8%
	750,000		AstraZeneca Finance LLC		0.700		05/28/24		720,454
	200,000		Baidu, Inc		3.500		11/28/22		200,572
	300,000		Baidu, Inc		3.875		09/29/23		302,556
	500,000	g	Blackstone Private Credit Fund		1.750		09/15/24		469,740
	750,000	g	Blackstone Private Credit Fund		2.350		11/22/24		715,149
	500,000	g	Blackstone Private Credit Fund		2.700		01/15/25		477,488
	500,000	g	Blackstone Private Credit Fund		4.700		03/24/25		507,298
	250,000		Blackstone Secured Lending Fund		3.650		07/14/23		251,382
	750,000		Charter Communications Operating LLC		4.500		02/01/24		767,126
	1,000,000		Comcast Corp		3.700		04/15/24		1,020,837
	158,000		Discovery Communications LLC		2.950		03/20/23		158,352
	750,000		Fox Corp		4.030		01/25/24		765,673
	500,000	g	GSK Consumer Healthcare Capital US LLC		3.024		03/24/24		499,782
	750,000	g	Magallanes, Inc		3.428		03/15/24		754,111
	500,000	g	Magallanes, Inc		3.528		03/15/24		499,550
	525,000	g	Magallanes, Inc		3.638		03/15/25		528,190
	500,000	g	Magallanes, Inc		3.788		03/15/25		500,025
	500,000	g	OWL Rock Core Income Corp		5.500		03/21/25		498,729
	200,000		Time Warner Entertainment Co LP		8.375		03/15/23		210,565
	500,000		Walt Disney Co		1.750		08/30/24		491,002
			TOTAL MEDIA & ENTERTAINMENT						10,338,581
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 1.0%
	750,000		AbbVie, Inc		2.300		11/21/22		752,528
	500,000		AbbVie, Inc		2.850		05/14/23		502,980
	300,000		AbbVie, Inc		3.750		11/14/23		305,735
	750,000		AbbVie, Inc		3.850		06/15/24		764,666
	1,500,000		AbbVie, Inc		3.800		03/15/25		1,527,874
	300,000		Agilent Technologies, Inc		3.875		07/15/23		304,464
	300,000		Amgen, Inc		2.250		08/19/23		301,051
	200,000		AstraZeneca plc		3.500		08/17/23		203,061
	1,000,000		Bristol-Myers Squibb Co		0.537		11/13/23		972,118
	500,000		Bristol-Myers Squibb Co		2.900		07/26/24		503,709
	300,000		Gilead Sciences, Inc		2.500		09/01/23		300,546
	206,000		Gilead Sciences, Inc		0.750		09/29/23		201,184
	750,000		Gilead Sciences, Inc		3.700		04/01/24		763,406
	500,000		Gilead Sciences, Inc		3.500		02/01/25		506,762
	375,000		GlaxoSmithKline Capital plc		0.534		10/01/23		366,305
	500,000		GlaxoSmithKline Capital, Inc		3.375		05/15/23		507,182
	500,000		Illumina, Inc		0.550		03/23/23		490,455
	28,000		Johnson & Johnson		2.050		03/01/23		28,096

356

TIAA-CREF FUNDS - Short-Term Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	500,000		Merck & Co, Inc		2.800	%	05/18/23	$	503,874
	750,000		PerkinElmer, Inc		0.850		09/15/24		711,492
	500,000		Pfizer, Inc		3.400		05/15/24		509,917
	500,000		Royalty Pharma plc		0.750		09/02/23		485,435
	300,000		Takeda Pharmaceutical Co Ltd		4.400		11/26/23		307,400
	500,000		Thermo Fisher Scientific, Inc		0.797		10/18/23		487,761
	750,000		Thermo Fisher Scientific, Inc		1.215		10/18/24		721,228
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						13,029,229
REAL ESTATE - 0.3%
	300,000		American Tower Corp		3.500		01/31/23		302,780
	750,000		American Tower Corp		0.600		01/15/24		718,805
	500,000		Boston Properties LP		3.200		01/15/25		499,718
	300,000		Crown Castle International Corp		3.150		07/15/23		302,027
	500,000		Crown Castle International Corp		3.200		09/01/24		500,586
	500,000		GLP Capital LP		3.350		09/01/24		496,917
	42,000		Omega Healthcare Investors, Inc		4.375		08/01/23		42,646
	500,000		Simon Property Group LP		2.750		06/01/23		501,051
	500,000		Simon Property Group LP		2.000		09/13/24		490,758
	200,000		SL Green Operating Partnership LP		3.250		10/15/22		200,395
	500,000		Ventas Realty LP		2.650		01/15/25		490,541
			TOTAL REAL ESTATE						4,546,224
RETAILING - 0.5%
	700,000		Alibaba Group Holding Ltd		3.600		11/28/24		703,414
	525,000		Amazon.com, Inc		0.250		05/12/23		516,928
	500,000		Amazon.com, Inc		0.400		06/03/23		491,814
	1,000,000		Amazon.com, Inc		0.450		05/12/24		962,601
	300,000		AutoZone, Inc		3.125		07/15/23		302,181
	400,000		Chevron USA, Inc		0.426		08/11/23		391,035
	500,000		Chevron USA, Inc		3.900		11/15/24		514,960
	200,000		Dollar General Corp		3.250		04/15/23		201,440
	500,000	g	GSK Consumer Healthcare Capital UK plc		3.125		03/24/25		498,444
	2,000,000		Home Depot, Inc		2.700		04/15/25		1,993,198
	500,000		Lowe’s Cos, Inc		3.125		09/15/24		502,118
			TOTAL RETAILING						7,078,133
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.2%
	500,000		Broadcom, Inc		3.625		10/15/24		506,555
	300,000		Intel Corp		2.700		12/15/22		302,200
	200,000		Microchip Technology, Inc		4.333		06/01/23		203,141
	1,000,000		NVIDIA Corp		0.584		06/14/24		958,896
	500,000	g	NXP BV		4.875		03/01/24		513,767
	1,000,000		Skyworks Solutions, Inc		0.900		06/01/23		977,677
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT						3,462,236
SOFTWARE & SERVICES - 0.9%
	100,000		Adobe, Inc		1.700		02/01/23		99,685
	750,000		Fidelity National Information Services, Inc		0.375		03/01/23		736,528
	750,000		Fidelity National Information Services, Inc		0.600		03/01/24		718,016
	250,000		Fiserv, Inc		3.800		10/01/23		253,879
	750,000		Fiserv, Inc		2.750		07/01/24		747,691

357

TIAA-CREF FUNDS - Short-Term Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	300,000		Global Payments, Inc		4.000	%	06/01/23	$	303,773
	1,000,000		Global Payments, Inc		1.500		11/15/24		956,039
	1,500,000		International Business Machines Corp		3.000		05/15/24		1,509,921
	360,000		Microsoft Corp		2.650		11/03/22		362,031
	1,000,000		Microsoft Corp		2.375		05/01/23		1,003,820
	475,000		Oracle Corp		2.625		02/15/23		475,884
	500,000		Oracle Corp		3.625		07/15/23		506,711
	1,250,000		Oracle Corp		3.400		07/08/24		1,258,931
	500,000		PayPal Holdings, Inc		1.350		06/01/23		498,538
	1,500,000		salesforce.com, Inc		0.625		07/15/24		1,436,170
	1,000,000		VMware, Inc		0.600		08/15/23		971,839
	575,000		VMware, Inc		1.000		08/15/24		548,239
			TOTAL SOFTWARE & SERVICES						12,387,695
TECHNOLOGY HARDWARE & EQUIPMENT - 0.4%
	375,000		Apple, Inc		1.700		09/11/22		375,635
	500,000		Apple, Inc		2.100		09/12/22		501,390
	500,000		Apple, Inc		2.400		05/03/23		502,699
	1,000,000		Apple, Inc		0.750		05/11/23		987,141
	400,000		Dell International LLC		5.450		06/15/23		412,057
	300,000		Hewlett Packard Enterprise Co		2.250		04/01/23		299,715
	400,000		Hewlett Packard Enterprise Co		4.450		10/02/23		409,685
	500,000		Hewlett Packard Enterprise Co		1.450		04/01/24		485,255
	1,000,000	g	SYNNEX Corp		1.250		08/09/24		950,063
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						4,923,640
TELECOMMUNICATION SERVICES - 0.3%
	750,000		AT&T, Inc		4.050		12/15/23		766,329
	1,000,000		AT&T, Inc		0.900		03/25/24		968,021
	500,000		Bell Canada		0.750		03/17/24		482,063
	500,000		British Telecommunications plc		4.500		12/04/23		509,931
	1,000,000	g	Rogers Communications, Inc		2.950		03/15/25		992,780
			TOTAL TELECOMMUNICATION SERVICES						3,719,124
TRANSPORTATION - 0.3%
	300,000		Burlington Northern Santa Fe LLC		3.850		09/01/23		306,484
	500,000		Burlington Northern Santa Fe LLC		3.400		09/01/24		508,612
	1,000,000		Canadian Pacific Railway Co		1.350		12/02/24		958,797
	300,000		Ryder System, Inc		3.750		06/09/23		303,391
	500,000		Ryder System, Inc		2.500		09/01/24		493,452
	450,000		Southwest Airlines Co		4.750		05/04/23		459,370
	500,000		Union Pacific Corp		3.250		01/15/25		504,594
	300,000		United Parcel Service, Inc		2.500		04/01/23		301,555
			TOTAL TRANSPORTATION						3,836,255
UTILITIES - 1.4%
	750,000		American Electric Power Co, Inc		0.750		11/01/23		726,646
	750,000		American Electric Power Co, Inc		2.031		03/15/24		737,011
	200,000		Baltimore Gas & Electric Co		3.350		07/01/23		201,064
	350,000		Berkshire Hathaway Energy Co		2.800		01/15/23		352,156
	500,000		Black Hills Corp		1.037		08/23/24		477,267

358

TIAA-CREF FUNDS - Short-Term Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	500,000		CenterPoint Energy Resources Corp		0.700	%	03/02/23	$	492,668
	500,000		Consolidated Edison, Inc		0.650		12/01/23		488,213
	475,000		Consumers Energy Co		0.350		06/01/23		462,869
	1,000,000		Duke Energy Corp		3.750		04/15/24		1,014,863
	1,000,000		Emera US Finance LP		0.833		06/15/24		946,640
	725,000		Enbridge, Inc		2.500		02/14/25		708,693
	750,000		Entergy Louisiana LLC		0.620		11/17/23		727,745
	500,000		Entergy Louisiana LLC		0.950		10/01/24		476,470
	1,000,000		NextEra Energy Capital Holdings, Inc		0.650		03/01/23		985,634
	250,000		OGE Energy Corp		0.703		05/26/23		244,920
	750,000		Oklahoma Gas and Electric Co		0.553		05/26/23		733,836
	500,000		ONE Gas, Inc		1.100		03/11/24		482,298
	750,000		Pacific Gas and Electric Co		1.367		03/10/23		736,792
	200,000		Pacific Gas and Electric Co		4.250		08/01/23		201,944
	1,000,000		Pacific Gas and Electric Co		1.700		11/15/23		974,743
	750,000		Pacific Gas and Electric Co		3.250		02/16/24		746,511
	1,000,000		Public Service Enterprise Group, Inc		0.841		11/08/23		969,710
	750,000	g	Qorvo, Inc		1.750		12/15/24		715,403
	500,000		Sempra Energy		3.300		04/01/25		500,792
	1,000,000		Southern California Edison Co		1.100		04/01/24		964,990
	500,000		Southern California Edison Co		0.975		08/01/24		476,745
	300,000		Southern Co		2.950		07/01/23		301,574
	1,000,000		Southern Co		0.600		02/26/24		961,211
	200,000		Virginia Electric & Power Co		2.750		03/15/23		200,638
	500,000		WEC Energy Group, Inc		0.550		09/15/23		485,655
	500,000		WEC Energy Group, Inc		0.800		03/15/24		479,804
	350,000		Xcel Energy, Inc		0.500		10/15/23		338,977
			TOTAL UTILITIES						19,314,482
			TOTAL CORPORATE BONDS						316,074,581
			(Cost $325,372,648)
GOVERNMENT BONDS - 76.5%
AGENCY SECURITIES - 3.2%
	1,500,000		Federal Farm Credit Bank (FFCB)		0.250		05/06/22		1,500,006
	750,000		FFCB		0.125		11/23/22		744,240
	4,000,000		FFCB		0.125		02/03/23		3,951,316
	2,000,000		FFCB		0.125		04/13/23		1,966,997
	800,000		FFCB		0.125		05/10/23		784,785
	330,000		FFCB		0.250		02/26/24		318,302
	750,000		FFCB		1.125		01/06/25		722,880
	1,000,000		FFCB		1.750		02/14/25		978,740
	1,500,000		Federal Farm Credit Banks Funding Corp		0.500		12/01/23		1,458,493
	1,000,000		Federal Home Loan Bank (FHLB)		0.250		06/03/22		999,437
	500,000		FHLB		0.125		10/21/22		496,517
	1,850,000		FHLB		0.500		11/09/23		1,800,604
	4,000,000		FHLB		2.125		02/28/24		3,985,897
	2,000,000		FHLB		0.750		12/13/24		1,910,509
	2,000,000		FHLB		1.000		12/20/24		1,922,390
	1,000,000		Federal Home Loan Mortgage Corp (FHLMC)		0.125		07/25/22		997,954
	2,500,000		FHLMC		0.375		04/20/23		2,463,888
	500,000		FHLMC		0.375		05/05/23		492,226
	1,000,000		FHLMC		0.250		06/26/23		978,876

359

TIAA-CREF FUNDS - Short-Term Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	1,500,000		FHLMC		0.250	%	08/24/23	$	1,461,778
	650,000		FHLMC		0.250		09/08/23		632,518
	750,000		FHLMC		0.125		10/16/23		727,028
	1,000,000		FHLMC		0.250		11/06/23		969,855
	945,000		FHLMC		0.250		12/04/23		914,699
	2,000,000		FHLMC		1.500		02/12/25		1,944,132
	1,000,000		Federal National Mortgage Association (FNMA)		2.000		10/05/22		1,004,242
	4,500,000		FNMA		0.250		05/22/23		4,413,835
	750,000		FNMA		0.250		07/10/23		732,793
	500,000		FNMA		0.250		11/27/23		484,370
	2,000,000		FNMA		1.625		01/07/25		1,952,570
	500,000		Hashemite Kingdom of Jordan Government AID Bond		2.578		06/30/22		501,046
			TOTAL AGENCY SECURITIES						44,212,923
FOREIGN GOVERNMENT BONDS - 5.5%
	1,250,000		Asian Development Bank		1.625		01/24/23		1,249,554
	1,750,000		Asian Development Bank		0.250		07/14/23		1,708,754
	500,000		Asian Development Bank		0.250		10/06/23		485,323
	1,500,000		Asian Development Bank		0.375		06/11/24		1,434,677
	2,220,000		Asian Development Bank		0.625		10/08/24		2,118,749
	750,000		Asian Infrastructure Investment Bank		0.250		09/29/23		726,862
	1,300,000		Asian Infrastructure Investment Bank		0.500		10/30/24		1,230,067
	300,000		Chile Government International Bond		2.250		10/30/22		299,703
	500,000		Corp Andina de Fomento		2.375		05/12/23		500,185
	675,000		Corp Andina de Fomento		1.250		10/26/24		646,637
	500,000		Council of Europe Development Bank		0.250		06/10/23		489,518
	500,000		Council Of Europe Development Bank		0.250		10/20/23		484,598
	1,000,000		European Bank for Reconstruction & Development		0.250		07/10/23		976,358
	3,707,000		European Investment Bank		1.375		05/15/23		3,682,015
	1,360,000		European Investment Bank		0.250		09/15/23		1,322,320
	1,500,000		European Investment Bank		3.250		01/29/24		1,524,615
	2,000,000		European Investment Bank		0.375		07/24/24		1,907,740
	1,000,000	e	European Investment Bank		2.500		10/15/24		1,000,595
	1,000,000	e	Export-Import Bank of Korea		0.375		02/09/24		961,290
	750,000		Export-Import Bank of Korea		0.625		06/29/24		716,916
	500,000		Export-Import Bank of Korea		1.250		01/18/25		477,878
	500,000		FMS Wertmanagement AoeR		2.750		03/06/23		503,262
	500,000		FMS Wertmanagement AoeR		2.750		01/30/24		503,611
	750,000		Hungary Government International Bond		5.750		11/22/23		784,157
	1,000,000		Hungary Government International Bond		5.375		03/25/24		1,046,890
	300,000		Indonesia Government International Bond		2.950		01/11/23		302,238
	1,000,000		Inter-American Development Bank		1.750		04/14/22		1,000,422
	1,100,000		Inter-American Development Bank		2.500		01/18/23		1,106,864
	1,000,000		Inter-American Development Bank		0.500		05/24/23		982,716
	1,500,000		Inter-American Development Bank		0.250		11/15/23		1,452,371
	1,000,000		Inter-American Development Bank		2.625		01/16/24		1,005,270
	1,000,000		Inter-American Development Bank		0.500		09/23/24		952,160
	2,000,000		Inter-American Development Bank		2.125		01/15/25		1,977,334
	1,500,000		International Bank for Reconstruction & Development		0.125		04/20/23		1,472,247
	1,000,000		International Bank for Reconstruction & Development		1.875		06/19/23		997,608
	1,250,000		International Bank for Reconstruction & Development		0.250		11/24/23		1,209,597
	1,500,000		International Bank for Reconstruction & Development		1.500		08/28/24		1,467,030
	2,000,000		International Bank for Reconstruction & Development		2.500		11/25/24		2,000,318
	400,000		International Finance Corp		0.500		03/20/23		394,864

360

TIAA-CREF FUNDS - Short-Term Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	500,000		International Finance Corp		2.875	%	07/31/23	$	504,548
	250,000		Israel Government International Bond		4.000		06/30/22		251,875
	500,000		Israel Government International Bond		3.150		06/30/23		505,186
	200,000		Japan Bank for International Cooperation		1.625		10/17/22		200,157
	450,000		Japan Bank for International Cooperation		1.750		01/23/23		449,756
	800,000		Japan Bank for International Cooperation		0.625		05/22/23		785,747
	500,000		Japan Bank for International Cooperation		3.250		07/20/23		506,315
	300,000		Japan Bank for International Cooperation		0.375		09/15/23		291,752
	700,000		Japan Bank for International Cooperation		3.375		10/31/23		710,850
	1,050,000		Japan Bank for International Cooperation		0.500		04/15/24		1,009,032
	1,000,000		Japan Bank for International Cooperation		1.750		10/17/24		978,377
	300,000		Korea Development Bank		3.375		03/12/23		302,766
	550,000		Korea Development Bank		0.500		10/27/23		532,697
	500,000		Korea Development Bank		0.400		03/09/24		478,935
	500,000		Korea Development Bank		0.400		06/19/24		475,745
	1,000,000	e	Korea Development Bank		2.000		02/24/25		976,798
	500,000		Korea Government International Bond		3.875		09/11/23		510,155
	2,000,000		Kreditanstalt fuer Wiederaufbau		1.750		08/22/22		2,004,954
	1,500,000		Kreditanstalt fuer Wiederaufbau		0.250		04/25/23		1,473,810
	500,000		Kreditanstalt fuer Wiederaufbau		0.250		10/19/23		484,915
	1,400,000		Kreditanstalt fuer Wiederaufbau		0.250		03/08/24		1,344,630
	1,500,000		Kreditanstalt fuer Wiederaufbau		0.500		09/20/24		1,428,914
	500,000		Nordic Investment Bank		1.375		10/17/22		499,390
	250,000		Nordic Investment Bank		0.375		05/19/23		245,429
	1,000,000		Nordic Investment Bank		0.375		09/20/24		949,570
	300,000		Panama Government International Bond		3.750		03/16/25		305,163
	400,000		Poland Government International Bond		3.000		03/17/23		402,018
	1,000,000		Poland Government International Bond		4.000		01/22/24		1,025,395
	500,000		Province of Alberta Canada		3.350		11/01/23		507,359
	1,250,000		Province of Alberta Canada		2.950		01/23/24		1,261,212
	300,000		Province of British Columbia Canada		2.000		10/23/22		301,176
	400,000		Province of Manitoba Canada		2.125		05/04/22		400,472
	1,055,000		Province of Ontario Canada		1.750		01/24/23		1,053,621
	600,000		Province of Ontario Canada		3.400		10/17/23		609,752
	1,000,000	e	Province of Ontario Canada		3.050		01/29/24		1,011,478
	1,000,000		Province of Quebec Canada		2.875		10/16/24		1,008,070
	1,000,000		Republic of Italy Government International Bond		6.875		09/27/23		1,060,234
	1,000,000		Republic of Italy Government International Bond		0.875		05/06/24		956,652
	300,000		Republic of Italy Government International Bond		2.375		10/17/24		294,758
	300,000		Svensk Exportkredit AB		2.875		03/14/23		302,785
	1,000,000		Svensk Exportkredit AB		0.750		04/06/23		988,256
	1,000,000		Svensk Exportkredit AB		0.500		11/10/23		971,000
	500,000		Svensk Exportkredit AB		0.375		03/11/24		480,384
	925,000		Svensk Exportkredit AB		0.625		10/07/24		881,389
			TOTAL FOREIGN GOVERNMENT BONDS						74,826,790
MUNICIPAL BONDS - 0.1%
	280,000		Port Authority of New York & New Jersey		1.086		07/01/23		276,668
	1,000,000		Virginia Small Business Financing Authority		0.000		12/31/23		1,000,698
			TOTAL MUNICIPAL BONDS						1,277,366
U.S. TREASURY SECURITIES - 67.7%
	6,500,000		United States Treasury Note		0.250		04/15/23		6,400,215
	13,500,000		United States Treasury Note		0.125		04/30/23		13,261,641

361

TIAA-CREF FUNDS - Short-Term Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
$	21,500,000		United States Treasury Note		0.125	%	05/15/23	$	21,090,996
	20,500,000		United States Treasury Note		0.125		05/31/23		20,081,191
	18,000,000		United States Treasury Note		0.250		06/15/23		17,648,437
	29,000,000		United States Treasury Note		0.125		06/30/23		28,346,367
	17,600,000		United States Treasury Note		0.125		07/15/23		17,178,563
	13,800,000		United States Treasury Note		0.125		07/31/23		13,452,305
	16,500,000		United States Treasury Note		0.125		08/15/23		16,066,230
	4,250,000		United States Treasury Note		0.125		08/31/23		4,134,785
	6,750,000		United States Treasury Note		0.125		09/15/23		6,558,311
	10,500,000		United States Treasury Note		0.250		09/30/23		10,208,379
	33,750,000		United States Treasury Note		0.125		10/15/23		32,709,815
	6,750,000		United States Treasury Note		0.375		10/31/23		6,560,684
	46,250,000		United States Treasury Note		0.250		11/15/23		44,815,528
	21,000,000		United States Treasury Note		0.500		11/30/23		20,411,836
	33,250,000		United States Treasury Note		0.125		12/15/23		32,075,859
	17,200,000		United States Treasury Note		0.750		12/31/23		16,753,875
	16,600,000		United States Treasury Note		0.125		01/15/24		15,972,961
	14,000,000		United States Treasury Note		0.875		01/31/24		13,643,437
	48,243,000		United States Treasury Note		0.125		02/15/24		46,326,472
	27,750,000	e	United States Treasury Note		1.500		02/29/24		27,345,674
	42,000,000		United States Treasury Note		0.250		03/15/24		40,346,250
	18,000,000		United States Treasury Note		2.250		03/31/24		17,988,047
	34,000,000		United States Treasury Note		0.375		04/15/24		32,658,594
	33,000,000		United States Treasury Note		0.250		05/15/24		31,542,070
	41,000,000		United States Treasury Note		0.250		06/15/24		39,103,750
	35,000,000		United States Treasury Note		0.375		07/15/24		33,405,859
	53,000,000		United States Treasury Note		0.375		08/15/24		50,474,219
	32,500,000		United States Treasury Note		0.375		09/15/24		30,876,269
	30,000,000		United States Treasury Note		0.625		10/15/24		28,637,109
	44,500,000		United States Treasury Note		0.750		11/15/24		42,534,004
	44,500,000		United States Treasury Note		0.875		12/15/24		42,765,195
	26,500,000		United States Treasury Note		1.125		01/15/25		25,516,601
	24,000,000		United States Treasury Note		1.500		02/15/25		23,326,875
	44,000,000		United States Treasury Note		1.750		03/15/25		43,068,437
	5,000,000		United States Treasury Note		0.250		08/31/25		4,626,172
	4,000,000		United States Treasury Note		0.250		09/30/25		3,695,000
			TOTAL U.S. TREASURY SECURITIES						921,608,012
			TOTAL GOVERNMENT BONDS						1,041,925,091
			(Cost $1,075,297,508)
STRUCTURED ASSETS - 0.0%
ASSET BACKED - 0.0%
	200,000		Delta Air Lines Pass Through Trust		3.204		04/25/24		200,170
			Series - 2019 1 (Class AA)
			TOTAL ASSET BACKED						200,170
			TOTAL STRUCTURED ASSETS						200,170
			(Cost $210,556)
			TOTAL BONDS						1,358,199,842
			(Cost $1,400,880,712)

362

TIAA-CREF FUNDS - Short-Term Bond Index Fund

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE
SHORT-TERM INVESTMENTS - 4.0%
GOVERNMENT AGENCY DEBT - 0.4%
$	5,000,000		Federal Agricultural Mortgage Corp (FAMC)		0.000	%	05/03/22	$	4,999,111
			TOTAL GOVERNMENT AGENCY DEBT						4,999,111
REPURCHASE AGREEMENT - 1.2%
	16,150,000	r	Fixed Income Clearing Corp (FICC)		0.250		04/01/22		16,150,000
			TOTAL REPURCHASE AGREEMENT						16,150,000
SHARES			COMPANY
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 2.4%
	32,588,993	c	State Street Navigator Securities Lending Government Money Market Portfolio		0.290				32,588,993
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES						32,588,993
			TOTAL SHORT-TERM INVESTMENTS						53,738,104
			(Cost $53,738,104)
			TOTAL INVESTMENTS - 103.7% (Cost $1,454,618,816)						1,411,937,946
			OTHER ASSETS & LIABILITIES, NET - (3.7)%						(50,239,697	)
			NET ASSETS - 100.0%					$	1,361,698,249

‡	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 $31,896,663.
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 3/31/22, the aggregate value of these securities is $13,027,536 or 1.0% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.
i	Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.
r	Agreement with Fixed Income Clearing Corporation, 0.250% dated 3/31/22 to be repurchased at $16,150,000 on 4/1/22, collateralized by Government Agency Securities, with coupon rate 2.375% and maturity date 3/31/29, valued at $16,473,082.

363

TIAA-CREF FUNDS - Money Market Fund

TIAA-CREF FUNDS
MONEY MARKET FUND
SCHEDULE OF INVESTMENTS
March 31, 2022

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE
SHORT-TERM INVESTMENTS - 100.5%
GOVERNMENT AGENCY DEBT - 43.4%
$	12,500,000	Federal Agricultural Mortgage Corp (FAMC)		0.000	%	04/29/22	$	12,497,667
	1,125,000	Federal Farm Credit Bank (FFCB)		0.140		04/01/22		1,125,000
	400,000	FFCB		2.000		04/04/22		400,064
	1,400,000	FFCB		0.250		04/06/22		1,400,034
	3,203,000	FFCB		0.375		04/08/22		3,203,177
	4,940,000	FFCB		0.000		04/20/22		4,939,322
	13,642,000	FFCB		0.000		04/21/22		13,640,333
	6,500,000	FFCB		0.000		04/27/22		6,499,061
	2,125,000	FFCB		0.300		04/27/22		2,124,991
	775,000	FFCB		0.250		05/06/22		775,112
	2,800,000	FFCB		0.000		05/12/22		2,799,777
	3,225,000	FFCB		0.000		05/16/22		3,224,718
	2,150,000	FFCB		0.160		05/18/22		2,149,276
	3,025,000	FFCB		0.000		05/25/22		3,024,682
	4,400,000	FFCB		0.060		06/09/22		4,396,252
	30,656,000	Federal Home Loan Bank (FHLB)		0.000		04/01/22		30,656,000
	56,155,000	FHLB		0.000		04/04/22		56,153,830
	30,538,000	FHLB		0.000		04/06/22		30,537,252
	5,733,000	FHLB		0.000		04/08/22		5,732,714
	12,000,000	FHLB		0.000		04/11/22		11,999,267
	27,920,000	FHLB		0.000		04/13/22		27,917,944
	7,000,000	FHLB		0.000		04/14/22		6,999,608
	15,992,000	FHLB		0.000		04/18/22		15,990,157
	7,000,000	FHLB		0.000		04/19/22		6,999,370
	26,450,000	FHLB		0.000		04/20/22		26,447,230
	65,618,000	FHLB		0.000		04/22/22		65,611,215
	38,002,000	FHLB		0.000		04/25/22		37,995,420
	16,250,000	FHLB		0.000		04/27/22		16,247,785
	6,300,000	FHLB		0.080		04/28/22		6,299,953
	2,175,000	FHLB		0.000		05/02/22		2,174,532
	4,275,000	FHLB		0.000		05/04/22		4,274,034
	16,959,000	FHLB		0.000		05/05/22		16,955,341
	15,000,000	FHLB		0.000		05/06/22		14,996,383
	18,650,000	FHLB		0.000		05/11/22		18,643,617
	7,500,000	FHLB		0.000		05/17/22		7,497,173
	13,000,000	FHLB		0.000		05/18/22		12,995,078
	4,350,000	FHLB		0.000		05/24/22		4,348,143
	1,000,000	FHLB		0.000		05/25/22		999,550
	30,000,000	FHLB		0.000		05/27/22		29,984,087
	7,500,000	FHLB		0.000		06/02/22		7,494,510
	1,000,000	FHLB		0.250		06/03/22		1,000,240
	14,000,000	FHLB		0.000		06/10/22		13,989,655
	4,700,000	FHLB		2.125		06/10/22		4,718,324
	105,000	FHLB		0.000		06/17/22		104,899
	7,500,000	FHLB		0.000		07/01/22		7,490,142
	100,000	Federal Home Loan Mortgage Corp (FHLMC)		0.250		06/08/22		100,026
	7,536,000	Federal National Mortgage Association (FNMA)		1.875		04/05/22		7,537,444
	645,000	FNMA		2.250		04/12/22		645,424

364

TIAA-CREF FUNDS - Money Market Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	44,094,000		FNMA			0.000	%	05/04/22	$	44,084,058
	3,750,000		FNMA			0.000		05/11/22		3,748,667
	16,899,000		FNMA			0.000		05/18/22		16,893,484
			TOTAL GOVERNMENT AGENCY DEBT							628,462,022
TREASURY DEBT - 24.5%
	35,700,000		United States Cash Management Bill			0.000		04/05/22		35,699,499
	34,400,000		United States Cash Management Bill			0.000		04/12/22		34,397,877
	15,000,000		United States Cash Management Bill			0.000		04/19/22		14,998,805
	54,107,000		United States Cash Management Bill			0.000		04/26/22		54,103,168
	24,314,000		United States Cash Management Bill			0.000		05/03/22		24,310,319
	8,030,000		United States Cash Management Bill			0.000		05/10/22		8,027,653
	3,000		United States Cash Management Bill			0.000		05/31/22		2,998
	16,500,000		United States Cash Management Bill			0.000		06/14/22		16,485,838
	40,776,000		United States Treasury Bill			0.000		04/07/22		40,775,388
	24,269,000		United States Treasury Bill			0.000		05/05/22		24,264,625
	26,961,000		United States Treasury Bill			0.000		05/12/22		26,953,211
	1,000		United States Treasury Bill			0.000		05/19/22		1,000
	14,000,000		United States Treasury Bill			0.000		05/24/22		13,993,976
	7,500,000		United States Treasury Bill			0.000		05/26/22		7,496,763
	301,000		United States Treasury Bill			0.000		06/16/22		300,754
	7,150,000		United States Treasury Bill			0.000		06/30/22		7,139,313
	4,350,000		United States Treasury Bill			0.000		09/29/22		4,327,079
	5,000,000		United States Treasury Note			2.250		04/15/22		5,004,167
	11,930,000		United States Treasury Note			0.125		04/30/22		11,930,325
	3,750,000		United States Treasury Note			1.750		04/30/22		3,754,412
	15,000,000		United States Treasury Note			1.750		05/15/22		15,025,868
	6,000,000		United States Treasury Note			1.500		08/15/22		6,014,237
			TOTAL TREASURY DEBT							355,007,275
VARIABLE RATE SECURITIES - 32.6%
	8,400,000	i	Federal Agricultural Mortgage Corp (FAMC)	SOFR + 0.015%		0.285		08/18/22		8,400,000
	2,500,000	i	FAMC	SOFR + 0.020%		0.290		10/24/22		2,500,000
	10,500,000	i	FAMC	SOFR + 0.050%		0.320		03/03/23		10,500,000
	17,700,000	i	Federal Farm Credit Bank (FFCB)	SOFR + 0.040%		0.310		06/01/22		17,700,067
	20,500,000	i	FFCB	SOFR + 0.005%		0.275		07/12/22		20,499,808
	5,150,000	i	FFCB	SOFR + 0.190%		0.470		07/14/22		5,150,067
	7,500,000	i	FFCB	SOFR + 0.070%		0.350		08/11/22		7,500,000
	3,000,000	i	FFCB	SOFR + 0.050%		0.320		08/12/22		3,000,388
	20,600,000	i	FFCB	SOFR + 0.045%		0.315		09/08/22		20,600,645
	10,500,000	i	FFCB	SOFR + 0.005%		0.275		10/05/22		10,499,809
	1,400,000	i	FFCB	SOFR + 0.030%		0.300		10/12/22		1,400,113
	4,975,000	i	FFCB	SOFR + 0.060%		0.340		10/21/22		4,975,254
	19,909,000	i	FFCB	SOFR + 0.010%		0.280		11/16/22		19,908,791
	8,400,000	i	FFCB	SOFR + 0.008%		0.278		11/22/22		8,399,863
	9,400,000	i	FFCB	SOFR + 0.025%		0.295		12/06/22		9,400,000
	6,501,000	i	FFCB	SOFR + 0.060%		0.330		12/28/22		6,503,105
	8,000,000	i	FFCB	SOFR + 0.015%		0.285		01/09/23		7,999,369
	1,761,000	i	FFCB	SOFR + 0.060%		0.330		01/13/23		1,761,421
	3,600,000	i	FFCB	SOFR + 0.050%		0.320		02/17/23		3,600,957
	7,750,000	i	FFCB	SOFR + 0.015%		0.285		03/07/23		7,749,632
	1,000,000	i	FFCB	SOFR + 0.040%		0.310		03/10/23		1,000,000
	4,000,000	i	FFCB	SOFR + 0.035%		0.305		05/04/23		4,000,000
	3,500,000	i	FFCB	SOFR + 0.035%		0.305		07/12/23		3,499,773
	15,475,000	i	FFCB	SOFR + 0.018%		0.288		07/13/23		15,472,748
	11,250,000	i	FFCB	SOFR + 0.040%		0.310		08/17/23		11,249,998

365

TIAA-CREF FUNDS - Money Market Fund

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE
$	6,400,000	i	FFCB	SOFR + 0.030%		0.300	%	08/28/23	$	6,400,000
	4,225,000	i	FFCB	SOFR + 0.050%		0.320		09/15/23		4,225,000
	1,500,000	i	FFCB	SOFR + 0.040%		0.310		09/20/23		1,500,000
	2,000,000	i	FFCB	SOFR + 0.025%		0.295		09/27/23		2,000,000
	2,000,000	i	FFCB	SOFR + 0.045%		0.315		10/16/23		2,000,000
	2,150,000	i	FFCB	SOFR + 0.025%		0.295		10/27/23		2,150,000
	700,000	i	FFCB	SOFR + 0.025%		0.295		11/30/23		699,645
	2,000,000	i	FFCB	SOFR + 0.120%		0.390		01/22/24		2,002,294
	700,000	i	FFCB	SOFR + 0.040%		0.310		03/04/24		700,000
	7,000,000	i	Federal Home Loan Bank (FHLB)	SOFR - 0.000%		0.270		04/29/22		7,000,000
	10,000,000	i	FHLB	SOFR + 0.055%		0.325		05/13/22		10,000,000
	6,000,000	i	FHLB	SOFR + 0.090%		0.360		05/26/22		6,000,000
	8,000,000	i	FHLB	SOFR + 0.010%		0.280		06/23/22		8,000,000
	7,245,000	i	FHLB	SOFR + 0.005%		0.275		06/30/22		7,245,000
	8,500,000	i	FHLB	SOFR + 0.005%		0.275		07/18/22		8,500,000
	8,000,000	i	FHLB	SOFR + 0.005%		0.275		07/25/22		8,000,000
	12,900,000	i	FHLB	SOFR + 0.010%		0.280		07/26/22		12,900,208
	10,825,000	i	FHLB	SOFR + 0.045%		0.315		07/29/22		10,825,000
	11,250,000	i	FHLB	SOFR + 0.010%		0.280		08/02/22		11,250,000
	7,000,000	i	FHLB	SOFR + 0.010%		0.280		08/02/22		7,000,000
	8,000,000	i	FHLB	SOFR + 0.010%		0.280		08/04/22		8,000,000
	7,500,000	i	FHLB	SOFR + 0.010%		0.280		08/05/22		7,500,000
	7,725,000	i	FHLB	SOFR + 0.010%		0.280		08/10/22		7,725,000
	7,000,000	i	FHLB	SOFR + 0.010%		0.280		08/17/22		7,000,000
	280,000	i	FHLB	SOFR + 0.090%		0.360		09/08/22		280,093
	10,500,000	i	FHLB	SOFR + 0.010%		0.280		09/09/22		10,499,996
	13,500,000	i	FHLB	SOFR + 0.085%		0.355		10/05/22		13,501,360
	36,500,000	i	FHLB	SOFR + 0.060%		0.330		12/08/22		36,507,176
	3,725,000	i	FHLB	SOFR + 0.060%		0.330		12/23/22		3,726,373
	1,100,000	i	FHLB	SOFR + 0.015%		0.285		03/15/23		1,099,840
	8,425,000	i	FHLB	SOFR + 0.035%		0.305		05/19/23		8,425,513
	7,000,000	i	FHLB	SOFR + 0.030%		0.300		08/11/23		7,000,000
	9,000,000	i	Federal Home Loan Mortgage Corp (FHLMC)	SOFR + 0.160%		0.430		04/18/22		9,000,658
	1,500,000	i	FHLMC	SOFR + 0.190%		0.460		06/02/22		1,500,453
	150,000	i	FHLMC	SOFR + 0.130%		0.400		08/05/22		150,061
	12,650,000	i	FHLMC	SOFR + 0.095%		0.375		08/19/22		12,650,917
	3,020,000	i	Federal National Mortgage Association (FNMA)	SOFR + 0.190%		0.460		05/27/22		3,020,864
	400,000	i	FNMA	SOFR + 0.180%		0.450		07/08/22		400,185
	3,500,000	i	FNMA	SOFR + 0.120%		0.400		07/29/22		3,501,244
	1,204,000	i	United States Treasury Note	US Treasury Bill 3 M + 0.034%		0.640		04/30/23		1,204,026
			TOTAL VARIABLE RATE SECURITIES							474,362,714
			TOTAL SHORT-TERM INVESTMENTS							1,457,832,011
			(Cost $1,457,832,011)
			TOTAL INVESTMENTS- 100.5%							1,457,832,011
			(Cost $1,457,832,011)
			OTHER ASSETS & LIABILITIES, NET - (0.5)%							(7,440,993	)
			NET ASSETS - 100.0%						$	1,450,391,018

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.

366

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, 2022, the related statements of operations for the year ended March 31, 2022, the statements of changes in net assets for each of the two years in the period ended March 31, 2022, 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, 2022 (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, 2022, 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, 2022, 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.

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.

367

Our procedures included confirmation of securities owned as of March 31, 2022 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 26, 2022

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

368

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 26, 2022	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 26, 2022	By:	/s/ Bradley Finkle
			Bradley Finkle
			Principal Executive Officer and President (principal executive officer)
Dated:	May 26, 2022	By:	/s/ E. Scott Wickerham
			E. Scott Wickerham
			Principal Financial Officer, Principal Accounting Officer and Treasurer (principal financial officer)