TIAA-CREF FUNDS – Managed Allocation Fund

TIAA-CREF FUNDS

MANAGED ALLOCATION FUND

SCHEDULE OF INVESTMENTS (unaudited)

August 31, 2019

SHARES		SECURITY	VALUE
AFFILIATED INVESTMENT COMPANIES - 99.9%a
FIXED INCOME - 40.5%
	32,343,355	TIAA-CREF Bond Plus Fund	$	349,308,232
		TOTAL FIXED INCOME		349,308,232
INTERNATIONAL EQUITY - 16.8%
	2,421,526	TIAA-CREF Emerging Markets Equity Fund		26,055,622
	3,239,795	TIAA-CREF International Equity Fund		33,369,885
	2,551,363	TIAA-CREF International Opportunities Fund		33,473,888
	4,568,545	TIAA-CREF Quant International Equity Fund		31,705,700
	2,102,939	TIAA-CREF Quant International Small-Cap Equity Fund		20,545,718
		TOTAL INTERNATIONAL EQUITY		145,150,813
U.S. EQUITY - 42.6%
	5,255,059	TIAA-CREF Growth & Income Fund		75,462,641
	3,238,957	TIAA-CREF Large-Cap Growth Fund		69,022,164
	3,869,725	TIAA-CREF Large-Cap Value Fund		64,856,596
	5,385,422	TIAA-CREF Quant Large-Cap Growth Fund		77,711,647
	4,886,462	TIAA-CREF Quant Large-Cap Value Fund		48,131,648
	1,087,915	TIAA-CREF Quant Small-Cap Equity Fund		17,384,878
	1,180,476	TIAA-CREF Quant Small/Mid-Cap Equity Fund		14,071,277
		TOTAL U.S. EQUITY		366,640,851
		TOTAL AFFILIATED INVESTMENT COMPANIES		861,099,896
		(Cost $726,066,640)
		TOTAL INVESTMENTS - 99.9%		861,099,896
		(Cost $726,066,640)
		OTHER ASSETS & LIABILITIES, NET - 0.1%		575,303
		NET ASSETS - 100.0%	$	861,675,199

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

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

Organization and significant accounting policies

Part F of Form N-PORT was prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and in conformity with the applicable rules and regulations of the U.S. Securities and Exchange Commission (“Commission”) related to interim filings. Part F of Form N-PORT does not include all information and footnotes required by U.S. GAAP for complete financial statements. Certain footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from this report. For a full set of financial statement notes, please refer to the most recently filed annual or semiannual report.

Valuation of investments

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

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

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

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

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

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

As of August 31, 2019, all of the investments in the Fund were valued based on Level 1 inputs.

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