NPORT-EX 1 c94290_nportex_toqezuax.htm

TIAA-CREF LIFECYCLE FUNDS – Lifecycle Retirement Income Fund

 

TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE RETIREMENT INCOME FUND
SCHEDULE OF INVESTMENTS (unaudited)
August 31, 2019

 

SHARES     SECURITY  VALUE 
             
AFFILIATED INVESTMENT COMPANIES - 99.7%a     
             
DIRECT REAL ESTATE - 4.7%     
 2,217,252b   TIAA-CREF Real Property Fund LP (purchased 8/01/16-8/29/19; cost $23,667,666)  $26,008,370 
       TOTAL DIRECT REAL ESTATE   26,008,370 
             
FIXED INCOME - 39.3%     
 10,344,396     TIAA-CREF Bond Fund   111,512,591 
 6,715,531     TIAA-CREF Bond Plus Fund   72,527,738 
 1,182,086     TIAA-CREF Emerging Markets Debt Fund   11,950,887 
 1,004,515     TIAA-CREF High-Yield Fund   9,753,838 
 1,105,448     TIAA-CREF International Bond Fund   11,629,313 
       TOTAL FIXED INCOME   217,374,367 
             
INFLATION-PROTECTED ASSETS - 10.0%     
 4,746,037     TIAA-CREF Inflation-Linked Bond Fund   55,291,326 
       TOTAL INFLATION-PROTECTED ASSETS   55,291,326 
             
INTERNATIONAL EQUITY - 10.4%     
 903,862     TIAA-CREF Emerging Markets Equity Fund   9,779,789 
 1,208,723     TIAA-CREF International Equity Fund   12,486,107 
 949,781     TIAA-CREF International Opportunities Fund   12,508,613 
 2,162,069     TIAA-CREF Quant International Equity Fund   15,047,997 
 781,749     TIAA-CREF Quant International Small-Cap Equity Fund   7,668,956 
       TOTAL INTERNATIONAL EQUITY   57,491,462 
             
SHORT-TERM FIXED INCOME - 11.0%     
 5,825,581     TIAA-CREF Short-Term Bond Fund   60,586,042 
       TOTAL SHORT-TERM FIXED INCOME   60,586,042 
             
U.S. EQUITY - 24.3%     
 1,963,004     TIAA-CREF Growth & Income Fund   28,208,364 
 1,208,452     TIAA-CREF Large-Cap Growth Fund   25,824,620 
 1,443,849     TIAA-CREF Large-Cap Value Fund   24,271,100 
 1,564,729     TIAA-CREF Quant Large-Cap Growth Fund   22,625,979 
 2,151,217     TIAA-CREF Quant Large-Cap Value Fund   21,254,023 
 406,066     TIAA-CREF Quant Small-Cap Equity Fund   6,505,172 
 440,036     TIAA-CREF Quant Small/Mid-Cap Equity Fund   5,262,834 
       TOTAL U.S. EQUITY   133,952,092 
             
       TOTAL AFFILIATED INVESTMENT COMPANIES   550,703,659 
       (Cost $497,087,072)     
             
       TOTAL INVESTMENTS - 99.7%   550,703,659 
       (Cost $497,087,072)     
       OTHER ASSETS & LIABILITIES, NET - 0.3%   1,835,216 
       NET ASSETS - 100.0%  $552,538,875 

 

 

 

a The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP and Class W shares of the affiliated TIAA-CREF Funds.
b Restricted security. At 8/31/19, the total value of this security amounted to $26,008,370 or 4.7% of net assets.
1

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2010 Fund

 

TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2010 FUND
SCHEDULE OF INVESTMENTS (unaudited)
August 31, 2019

 

SHARES     SECURITY  VALUE 
             
AFFILIATED INVESTMENT COMPANIES - 99.5%a     
             
DIRECT REAL ESTATE - 4.7%     
 4,893,403b    TIAA-CREF Real Property Fund LP (purchased 7/01/16-8/06/19; cost $51,846,128)  $57,399,619 
       TOTAL DIRECT REAL ESTATE   57,399,619 
             
FIXED INCOME - 39.1%     
 22,741,941     TIAA-CREF Bond Fund   245,158,128 
 14,752,156     TIAA-CREF Bond Plus Fund   159,323,287 
 2,589,269     TIAA-CREF Emerging Markets Debt Fund   26,177,514 
 2,212,231     TIAA-CREF High-Yield Fund   21,480,767 
 2,431,565     TIAA-CREF International Bond Fund   25,580,066 
       TOTAL FIXED INCOME   477,719,762 
             
INFLATION-PROTECTED ASSETS - 9.6%     
 10,114,001     TIAA-CREF Inflation-Linked Bond Fund   117,828,117 
       TOTAL INFLATION-PROTECTED ASSETS   117,828,117 
             
INTERNATIONAL EQUITY - 10.7%     
 2,039,188     TIAA-CREF Emerging Markets Equity Fund   22,064,013 
 2,739,622     TIAA-CREF International Equity Fund   28,300,296 
 2,162,356     TIAA-CREF International Opportunities Fund   28,478,232 
 4,898,857     TIAA-CREF Quant International Equity Fund   34,096,043 
 1,777,468     TIAA-CREF Quant International Small-Cap Equity Fund   17,436,957 
       TOTAL INTERNATIONAL EQUITY   130,375,541 
             
SHORT-TERM FIXED INCOME - 10.6%     
 12,459,740     TIAA-CREF Short-Term Bond Fund   129,581,294 
       TOTAL SHORT-TERM FIXED INCOME   129,581,294 
             
U.S. EQUITY - 24.8%     
 4,450,380     TIAA-CREF Growth & Income Fund   63,951,956 
 2,737,897     TIAA-CREF Large-Cap Growth Fund   58,508,859 
 3,267,669     TIAA-CREF Large-Cap Value Fund   54,929,515 
 3,545,560     TIAA-CREF Quant Large-Cap Growth Fund   51,268,794 
 4,884,020     TIAA-CREF Quant Large-Cap Value Fund   48,254,122 
 919,811     TIAA-CREF Quant Small-Cap Equity Fund   14,735,371 
 996,980     TIAA-CREF Quant Small/Mid-Cap Equity Fund   11,923,876 
       TOTAL U.S. EQUITY   303,572,493 
             
       TOTAL AFFILIATED INVESTMENT COMPANIES   1,216,476,826 
       (Cost $1,043,153,666)     
             
       TOTAL INVESTMENTS - 99.5%   1,216,476,826 
       (Cost $1,043,153,666)     
       OTHER ASSETS & LIABILITIES, NET - 0.5%   6,599,418 
       NET ASSETS - 100.0%  $1,223,076,244 

 

 

 

a The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP and Class W shares of the affiliated TIAA-CREF Funds.
b Restricted security. At 8/31/19, the total value of this security amounted to $57,399,619 or 4.7% of net assets.
2

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2015 Fund

 

TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2015 FUND
SCHEDULE OF INVESTMENTS (unaudited)
August 31, 2019

 

SHARES     SECURITY  VALUE 
             
AFFILIATED INVESTMENT COMPANIES - 99.8%a     
             
DIRECT REAL ESTATE - 4.7%     
 7,343,434b    TIAA-CREF Real Property Fund LP (purchased 11/28/16-8/06/19; cost $78,203,666)  $86,138,476 
       TOTAL DIRECT REAL ESTATE   86,138,476 
             
FIXED INCOME - 38.2%     
 33,283,548     TIAA-CREF Bond Fund   358,796,643 
 21,627,168     TIAA-CREF Bond Plus Fund   233,573,410 
 3,807,423     TIAA-CREF Emerging Markets Debt Fund   38,493,043 
 3,175,896     TIAA-CREF High-Yield Fund   30,837,953 
 3,563,483     TIAA-CREF International Bond Fund   37,487,843 
       TOTAL FIXED INCOME   699,188,892 
             
INFLATION-PROTECTED ASSETS - 7.7%     
 12,063,492     TIAA-CREF Inflation-Linked Bond Fund   140,539,680 
       TOTAL INFLATION-PROTECTED ASSETS   140,539,680 
             
INTERNATIONAL EQUITY - 12.2%     
 3,486,834     TIAA-CREF Emerging Markets Equity Fund   37,727,548 
 4,708,897     TIAA-CREF International Equity Fund   48,642,905 
 3,672,859     TIAA-CREF International Opportunities Fund   48,371,551 
 8,407,723     TIAA-CREF Quant International Equity Fund   58,517,754 
 3,046,726     TIAA-CREF Quant International Small-Cap Equity Fund   29,888,380 
       TOTAL INTERNATIONAL EQUITY   223,148,138 
             
SHORT-TERM FIXED INCOME - 8.6%     
 15,201,488     TIAA-CREF Short-Term Bond Fund   158,095,470 
       TOTAL SHORT-TERM FIXED INCOME   158,095,470 
             
U.S. EQUITY - 28.4%     
 7,611,440     TIAA-CREF Growth & Income Fund   109,376,394 
 4,683,222     TIAA-CREF Large-Cap Growth Fund   100,080,452 
 5,595,127     TIAA-CREF Large-Cap Value Fund   94,054,093 
 6,064,162     TIAA-CREF Quant Large-Cap Growth Fund   87,687,778 
 8,347,806     TIAA-CREF Quant Large-Cap Value Fund   82,476,322 
 1,571,498     TIAA-CREF Quant Small-Cap Equity Fund   25,175,398 
 1,705,155     TIAA-CREF Quant Small/Mid-Cap Equity Fund   20,393,652 
       TOTAL U.S. EQUITY   519,244,089 
             
       TOTAL AFFILIATED INVESTMENT COMPANIES   1,826,354,745 
       (Cost $1,738,540,142)     
             
       TOTAL INVESTMENTS - 99.8%   1,826,354,745 
       (Cost $1,738,540,142)     
       OTHER ASSETS & LIABILITIES, NET - 0.2%   4,303,448 
       NET ASSETS - 100.0%  $1,830,658,193 

 

 

 

a The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP and Class W shares of the affiliated TIAA-CREF Funds.
b Restricted security. At 8/31/19, the total value of this security amounted to $86,138,476 or 4.7% of net assets.
3

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2020 Fund

 

TIAA-CREF LIFECYCLE FUNDS

LIFECYCLE 2020 FUND

SCHEDULE OF INVESTMENTS (unaudited)

August 31, 2019

 

SHARES     SECURITY  VALUE 
             
AFFILIATED INVESTMENT COMPANIES - 99.7%a     
             
DIRECT REAL ESTATE - 4.7%     
 15,254,607b    TIAA-CREF Real Property Fund LP (purchased 11/28/16-8/06/19; cost $162,757,532)  $178,936,536 
       TOTAL DIRECT REAL ESTATE   178,936,536 
             
FIXED INCOME - 36.5%     
 66,116,633     TIAA-CREF Bond Fund   712,737,307 
 43,060,672     TIAA-CREF Bond Plus Fund   465,055,261 
 7,605,414     TIAA-CREF Emerging Markets Debt Fund   76,890,740 
 6,303,893     TIAA-CREF High-Yield Fund   61,210,803 
 7,091,920     TIAA-CREF International Bond Fund   74,606,996 
       TOTAL FIXED INCOME   1,390,501,107 
             
INFLATION-PROTECTED ASSETS - 5.7%     
 18,553,161     TIAA-CREF Inflation-Linked Bond Fund   216,144,331 
       TOTAL INFLATION-PROTECTED ASSETS   216,144,331 
             
INTERNATIONAL EQUITY - 13.9%     
 8,272,280     TIAA-CREF Emerging Markets Equity Fund   89,506,068 
 11,171,670     TIAA-CREF International Equity Fund   115,403,356 
 8,757,731     TIAA-CREF International Opportunities Fund   115,339,323 
 19,910,887     TIAA-CREF Quant International Equity Fund   138,579,775 
 7,220,489     TIAA-CREF Quant International Small-Cap Equity Fund   70,833,002 
       TOTAL INTERNATIONAL EQUITY   529,661,524 
             
SHORT-TERM FIXED INCOME - 6.6%     
 24,324,500     TIAA-CREF Short-Term Bond Fund   252,974,795 
       TOTAL SHORT-TERM FIXED INCOME   252,974,795 
             
U.S. EQUITY - 32.3%     
 18,075,730     TIAA-CREF Growth & Income Fund   259,748,236 
 11,103,554     TIAA-CREF Large-Cap Growth Fund   237,282,959 
 13,275,793     TIAA-CREF Large-Cap Value Fund   223,166,085 
 14,405,179     TIAA-CREF Quant Large-Cap Growth Fund   208,298,894 
 19,802,404     TIAA-CREF Quant Large-Cap Value Fund   195,647,755 
 3,731,643     TIAA-CREF Quant Small-Cap Equity Fund   59,780,923 
 4,045,433     TIAA-CREF Quant Small/Mid-Cap Equity Fund   48,383,381 
       TOTAL U.S. EQUITY   1,232,308,233 
             
       TOTAL AFFILIATED INVESTMENT COMPANIES   3,800,526,526 
       (Cost $3,585,135,107)     
             
       TOTAL INVESTMENTS - 99.7%   3,800,526,526 
       (Cost $3,585,135,107)     
       OTHER ASSETS & LIABILITIES, NET - 0.3%   11,609,087 
       NET ASSETS - 100.0%  $3,812,135,613 

 

 

 

a The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP and Class W shares of the affiliated TIAA-CREF Funds.
b Restricted security. At 8/31/19, the total value of this security amounted to $178,936,536 or 4.7% of net assets.
4

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2025 Fund

 

TIAA-CREF LIFECYCLE FUNDS

LIFECYCLE 2025 FUND

SCHEDULE OF INVESTMENTS (unaudited)

August 31, 2019

 

SHARES     SECURITY  VALUE 
             
AFFILIATED INVESTMENT COMPANIES - 99.7%a    
             
DIRECT REAL ESTATE - 4.7%     
 18,584,998b    TIAA-CREF Real Property Fund LP (purchased 8/01/16-8/06/19; cost $198,553,694)  $218,002,027 
       TOTAL DIRECT REAL ESTATE   218,002,027 
             
FIXED INCOME - 31.6%     
 69,477,216     TIAA-CREF Bond Fund   748,964,386 
 45,613,985     TIAA-CREF Bond Plus Fund   492,631,040 
 8,243,623     TIAA-CREF Emerging Markets Debt Fund   83,343,030 
 6,579,238     TIAA-CREF High-Yield Fund   63,884,403 
 7,512,456     TIAA-CREF International Bond Fund   79,031,038 
       TOTAL FIXED INCOME   1,467,853,897 
             
INFLATION-PROTECTED ASSETS - 3.7%     
 14,617,422     TIAA-CREF Inflation-Linked Bond Fund   170,292,962 
       TOTAL INFLATION-PROTECTED ASSETS   170,292,962 
             
INTERNATIONAL EQUITY - 16.6%     
 12,029,916     TIAA-CREF Emerging Markets Equity Fund   130,163,687 
 16,172,537     TIAA-CREF International Equity Fund   167,062,311 
 12,755,553     TIAA-CREF International Opportunities Fund   167,990,629 
 29,000,116     TIAA-CREF Quant International Equity Fund   201,840,807 
 10,474,671     TIAA-CREF Quant International Small-Cap Equity Fund   102,756,528 
       TOTAL INTERNATIONAL EQUITY   769,813,962 
             
SHORT-TERM FIXED INCOME - 4.6%     
 20,752,856     TIAA-CREF Short-Term Bond Fund   215,829,704 
       TOTAL SHORT-TERM FIXED INCOME   215,829,704 
             
U.S. EQUITY - 38.5%     
 26,240,078     TIAA-CREF Growth & Income Fund   377,069,916 
 16,149,518     TIAA-CREF Large-Cap Growth Fund   345,115,189 
 19,314,868     TIAA-CREF Large-Cap Value Fund   324,682,925 
 20,951,513     TIAA-CREF Quant Large-Cap Growth Fund   302,958,877 
 28,772,695     TIAA-CREF Quant Large-Cap Value Fund   284,274,231 
 5,428,292     TIAA-CREF Quant Small-Cap Equity Fund   86,961,241 
 5,888,434     TIAA-CREF Quant Small/Mid-Cap Equity Fund   70,425,669 
       TOTAL U.S. EQUITY   1,791,488,048 
             
       TOTAL AFFILIATED INVESTMENT COMPANIES   4,633,280,600 
       (Cost $4,341,241,779)     
             
       TOTAL INVESTMENTS - 99.7%   4,633,280,600 
       (Cost $4,341,241,779)     
       OTHER ASSETS & LIABILITIES, NET - 0.3%   14,243,159 
       NET ASSETS - 100.0%  $4,647,523,759 

 

 

 

a The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP and Class W shares of the affiliated TIAA-CREF Funds.
b Restricted security. At 8/31/19, the total value of this security amounted to $218,002,027 or 4.7% of net assets.
5

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2030 Fund

 

TIAA-CREF LIFECYCLE FUNDS

LIFECYCLE 2030 FUND

SCHEDULE OF INVESTMENTS (unaudited)

August 31, 2019

 

SHARES     SECURITY  VALUE 
             
AFFILIATED INVESTMENT COMPANIES - 99.7%a     
             
DIRECT REAL ESTATE - 4.7%     
 18,474,944b    TIAA-CREF Real Property Fund LP (purchased 8/01/16-8/06/19; cost $197,190,956)  $216,711,087 
       TOTAL DIRECT REAL ESTATE   216,711,087 
             
FIXED INCOME - 26.6%     
 58,035,826     TIAA-CREF Bond Fund   625,626,200 
 38,534,133     TIAA-CREF Bond Plus Fund   416,168,641 
 7,135,690     TIAA-CREF Emerging Markets Debt Fund   72,141,828 
 5,352,121     TIAA-CREF High-Yield Fund   51,969,096 
 6,344,856     TIAA-CREF International Bond Fund   66,747,883 
       TOTAL FIXED INCOME   1,232,653,648 
             
INFLATION-PROTECTED ASSETS - 1.6%     
 6,586,424     TIAA-CREF Inflation-Linked Bond Fund   76,731,843 
       TOTAL INFLATION-PROTECTED ASSETS   76,731,843 
             
INTERNATIONAL EQUITY - 19.3%     
 13,957,046     TIAA-CREF Emerging Markets Equity Fund   151,015,234 
 18,721,462     TIAA-CREF International Equity Fund   193,392,698 
 14,759,114     TIAA-CREF International Opportunities Fund   194,377,529 
 33,532,761     TIAA-CREF Quant International Equity Fund   233,388,018 
 12,104,431     TIAA-CREF Quant International Small-Cap Equity Fund   118,744,471 
       TOTAL INTERNATIONAL EQUITY   890,917,950 
             
SHORT-TERM FIXED INCOME - 2.7%     
 11,772,832     TIAA-CREF Short-Term Bond Fund   122,437,452 
       TOTAL SHORT-TERM FIXED INCOME   122,437,452 
             
U.S. EQUITY - 44.8%     
 30,336,426     TIAA-CREF Growth & Income Fund   435,934,444 
 18,727,099     TIAA-CREF Large-Cap Growth Fund   400,198,103 
 22,386,596     TIAA-CREF Large-Cap Value Fund   376,318,681 
 24,213,808     TIAA-CREF Quant Large-Cap Growth Fund   350,131,666 
 33,282,385     TIAA-CREF Quant Large-Cap Value Fund   328,829,962 
 6,282,787     TIAA-CREF Quant Small-Cap Equity Fund   100,650,242 
 6,836,889     TIAA-CREF Quant Small/Mid-Cap Equity Fund   81,769,194 
       TOTAL U.S. EQUITY   2,073,832,292 
             
       TOTAL AFFILIATED INVESTMENT COMPANIES   4,613,284,272 
       (Cost $4,288,772,422)     
             
       TOTAL INVESTMENTS - 99.7%   4,613,284,272 
       (Cost $4,288,772,422)     
       OTHER ASSETS & LIABILITIES, NET - 0.3%   14,423,689 
       NET ASSETS - 100.0%  $4,627,707,961 

 

 

 

a The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP and Class W shares of the affiliated TIAA-CREF Funds.
b Restricted security. At 8/31/19, the total value of this security amounted to $216,711,087 or 4.7% of net assets.
6

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2035 Fund

 

TIAA-CREF LIFECYCLE FUNDS

LIFECYCLE 2035 FUND

SCHEDULE OF INVESTMENTS (unaudited)

August 31, 2019

 

SHARES     SECURITY  VALUE 
             
AFFILIATED INVESTMENT COMPANIES - 99.7%a     
             
DIRECT REAL ESTATE - 4.7%     
 18,643,280b   TIAA-CREF Real Property Fund LP (purchased 8/01/16-8/29/19; cost $199,011,248)  $218,685,671 
       TOTAL DIRECT REAL ESTATE   218,685,671 
             
FIXED INCOME - 22.0%     
 50,082,015     TIAA-CREF Bond Fund   539,884,123 
 30,956,880     TIAA-CREF Bond Plus Fund   334,334,306 
 5,966,552     TIAA-CREF Emerging Markets Debt Fund   60,321,839 
 4,110,609     TIAA-CREF High-Yield Fund   39,914,010 
 5,098,606     TIAA-CREF International Bond Fund   53,637,335 
       TOTAL FIXED INCOME   1,028,091,613 
             
INTERNATIONAL EQUITY - 22.0%     
 16,066,737     TIAA-CREF Emerging Markets Equity Fund   173,842,093 
 21,639,040     TIAA-CREF International Equity Fund   223,531,285 
 16,972,812     TIAA-CREF International Opportunities Fund   223,531,933 
 38,708,238     TIAA-CREF Quant International Equity Fund   269,409,339 
 13,936,421     TIAA-CREF Quant International Small-Cap Equity Fund   136,716,293 
       TOTAL INTERNATIONAL EQUITY   1,027,030,943 
             
U.S. EQUITY - 51.0%     
 34,977,826     TIAA-CREF Growth & Income Fund   502,631,358 
 21,563,572     TIAA-CREF Large-Cap Growth Fund   460,813,532 
 25,758,370     TIAA-CREF Large-Cap Value Fund   432,998,201 
 27,878,107     TIAA-CREF Quant Large-Cap Growth Fund   403,117,434 
 38,306,959     TIAA-CREF Quant Large-Cap Value Fund   378,472,758 
 7,247,029     TIAA-CREF Quant Small-Cap Equity Fund   116,097,405 
 7,897,830     TIAA-CREF Quant Small/Mid-Cap Equity Fund   94,458,048 
       TOTAL U.S. EQUITY   2,388,588,736 
             
       TOTAL AFFILIATED INVESTMENT COMPANIES   4,662,396,963 
       (Cost $4,289,226,760)     
             
       TOTAL INVESTMENTS - 99.7%   4,662,396,963 
       (Cost $4,289,226,760)     
       OTHER ASSETS & LIABILITIES, NET - 0.3%   14,279,612 
       NET ASSETS - 100.0%  $4,676,676,575 

 

 

 

a The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP and Class W shares of the affiliated TIAA-CREF Funds.
b Restricted security. At 8/31/19, the total value of this security amounted to $218,685,671 or 4.7% of net assets.
7

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2040 Fund

 

TIAA-CREF LIFECYCLE FUNDS

LIFECYCLE 2040 FUND

SCHEDULE OF INVESTMENTS (unaudited)

August 31, 2019

 

SHARES     SECURITY  VALUE 
             
AFFILIATED INVESTMENT COMPANIES - 99.7%a     
             
DIRECT REAL ESTATE - 4.7%     
 22,005,843b    TIAA-CREF Real Property Fund LP (purchased 8/01/16-8/29/19; cost $234,589,402)  $258,128,539 
       TOTAL DIRECT REAL ESTATE   258,128,539 
             
FIXED INCOME - 13.0%     
 34,941,343     TIAA-CREF Bond Fund   376,667,682 
 21,595,069     TIAA-CREF Bond Plus Fund   233,226,746 
 4,715,908     TIAA-CREF Emerging Markets Debt Fund   47,677,825 
 2,291,994     TIAA-CREF High-Yield Fund   22,255,261 
 3,555,427     TIAA-CREF International Bond Fund   37,403,089 
       TOTAL FIXED INCOME   717,230,603 
             
INTERNATIONAL EQUITY - 24.6%     
 21,365,841     TIAA-CREF Emerging Markets Equity Fund   231,178,403 
 28,693,576     TIAA-CREF International Equity Fund   296,404,635 
 22,536,358     TIAA-CREF International Opportunities Fund   296,803,829 
 51,395,422     TIAA-CREF Quant International Equity Fund   357,712,140 
 18,492,905     TIAA-CREF Quant International Small-Cap Equity Fund   181,415,403 
       TOTAL INTERNATIONAL EQUITY   1,363,514,410 
             
U.S. EQUITY - 57.4%     
 46,372,488     TIAA-CREF Growth & Income Fund   666,372,654 
 28,632,893     TIAA-CREF Large-Cap Growth Fund   611,884,925 
 34,207,084     TIAA-CREF Large-Cap Value Fund   575,021,077 
 37,011,377     TIAA-CREF Quant Large-Cap Growth Fund   535,184,514 
 50,848,275     TIAA-CREF Quant Large-Cap Value Fund   502,380,955 
 9,632,950     TIAA-CREF Quant Small-Cap Equity Fund   154,319,858 
 10,495,926     TIAA-CREF Quant Small/Mid-Cap Equity Fund   125,531,279 
       TOTAL U.S. EQUITY   3,170,695,262 
             
       TOTAL AFFILIATED INVESTMENT COMPANIES   5,509,568,814 
       (Cost $5,023,424,598)     
             
       TOTAL INVESTMENTS - 99.7%   5,509,568,814 
       (Cost $5,023,424,598)     
       OTHER ASSETS & LIABILITIES, NET - 0.3%   15,706,104 
       NET ASSETS - 100.0%  $5,525,274,918 

 

 

 

a The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP and Class W shares of the affiliated TIAA-CREF Funds.
b Restricted security. At 8/31/19, the total value of this security amounted to $258,128,539 or 4.7% of net assets.
8

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2045 Fund

 

TIAA-CREF LIFECYCLE FUNDS

LIFECYCLE 2045 FUND

SCHEDULE OF INVESTMENTS (unaudited)

August 31, 2019

 

SHARES     SECURITY  VALUE 
             
AFFILIATED INVESTMENT COMPANIES - 99.7%a     
             
DIRECT REAL ESTATE - 4.7%     
 12,670,560b    TIAA-CREF Real Property Fund LP (purchased 8/01/16-8/29/19; cost $135,887,329)  $148,625,674 
       TOTAL DIRECT REAL ESTATE   148,625,674 
             
FIXED INCOME - 5.3%     
 8,238,152     TIAA-CREF Bond Fund   88,807,279 
 5,095,230     TIAA-CREF Bond Plus Fund   55,028,489 
 1,389,061     TIAA-CREF Emerging Markets Debt Fund   14,043,404 
 256,145     TIAA-CREF High-Yield Fund   2,487,173 
 838,649     TIAA-CREF International Bond Fund   8,822,589 
       TOTAL FIXED INCOME   169,188,934 
             
INTERNATIONAL EQUITY - 27.0%     
 13,497,789     TIAA-CREF Emerging Markets Equity Fund   146,046,074 
 18,124,340     TIAA-CREF International Equity Fund   187,224,436 
 14,193,269     TIAA-CREF International Opportunities Fund   186,925,352 
 32,426,216     TIAA-CREF Quant International Equity Fund   225,686,466 
 11,655,917     TIAA-CREF Quant International Small-Cap Equity Fund   114,344,544 
       TOTAL INTERNATIONAL EQUITY   860,226,872 
             
U.S. EQUITY - 62.7%     
 29,285,298     TIAA-CREF Growth & Income Fund   420,829,738 
 18,047,432     TIAA-CREF Large-Cap Growth Fund   385,673,618 
 21,538,683     TIAA-CREF Large-Cap Value Fund   362,065,257 
 23,336,904     TIAA-CREF Quant Large-Cap Growth Fund   337,451,636 
 32,092,597     TIAA-CREF Quant Large-Cap Value Fund   317,074,862 
 6,075,305     TIAA-CREF Quant Small-Cap Equity Fund   97,326,380 
 6,597,377     TIAA-CREF Quant Small/Mid-Cap Equity Fund   78,904,630 
       TOTAL U.S. EQUITY   1,999,326,121 
             
       TOTAL AFFILIATED INVESTMENT COMPANIES   3,177,367,601 
       (Cost $2,776,285,628)     
             
       TOTAL INVESTMENTS - 99.7%   3,177,367,601 
       (Cost $2,776,285,628)     
       OTHER ASSETS & LIABILITIES, NET - 0.3%   9,818,885 
       NET ASSETS - 100.0%  $3,187,186,486 

 

 

 

a The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP and Class W shares of the affiliated TIAA-CREF Funds.
b Restricted security. At 8/31/19, the total value of this security amounted to $148,625,674 or 4.7% of net assets.
9

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2050 Fund

 

TIAA-CREF LIFECYCLE FUNDS

LIFECYCLE 2050 FUND

SCHEDULE OF INVESTMENTS (unaudited)

August 31, 2019

 

SHARES     SECURITY  VALUE 
             
AFFILIATED INVESTMENT COMPANIES - 99.7%a     
             
DIRECT REAL ESTATE - 4.7%     
 8,584,927b    TIAA-CREF Real Property Fund LP (purchased 8/01/16-8/29/19; cost $92,325,734)  $100,701,190 
       TOTAL DIRECT REAL ESTATE   100,701,190 
             
FIXED INCOME - 4.0%     
 4,244,366     TIAA-CREF Bond Fund   45,754,261 
 2,629,543     TIAA-CREF Bond Plus Fund   28,399,065 
 682,966     TIAA-CREF Emerging Markets Debt Fund   6,904,788 
 164,458     TIAA-CREF High-Yield Fund   1,596,890 
 432,101     TIAA-CREF International Bond Fund   4,545,699 
       TOTAL FIXED INCOME   87,200,703 
             
INTERNATIONAL EQUITY - 27.4%     
 9,274,240     TIAA-CREF Emerging Markets Equity Fund   100,347,281 
 12,453,235     TIAA-CREF International Equity Fund   128,641,914 
 9,750,904     TIAA-CREF International Opportunities Fund   128,419,406 
 22,282,044     TIAA-CREF Quant International Equity Fund   155,083,030 
 8,007,364     TIAA-CREF Quant International Small-Cap Equity Fund   78,552,238 
       TOTAL INTERNATIONAL EQUITY   591,043,869 
             
U.S. EQUITY - 63.6%     
 20,127,734     TIAA-CREF Growth & Income Fund   289,235,532 
 12,403,228     TIAA-CREF Large-Cap Growth Fund   265,056,992 
 14,808,086     TIAA-CREF Large-Cap Value Fund   248,923,925 
 16,040,421     TIAA-CREF Quant Large-Cap Growth Fund   231,944,485 
 22,062,419     TIAA-CREF Quant Large-Cap Value Fund   217,976,701 
 4,170,045     TIAA-CREF Quant Small-Cap Equity Fund   66,804,126 
 4,531,559     TIAA-CREF Quant Small/Mid-Cap Equity Fund   54,197,441 
       TOTAL U.S. EQUITY   1,374,139,202 
             
       TOTAL AFFILIATED INVESTMENT COMPANIES   2,153,084,964 
       (Cost $1,910,207,888)     
             
       TOTAL INVESTMENTS - 99.7%   2,153,084,964 
       (Cost $1,910,207,888)     
       OTHER ASSETS & LIABILITIES, NET - 0.3%   7,100,013 
       NET ASSETS - 100.0%  $2,160,184,977 

 

 

 

a The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP and Class W shares of the affiliated TIAA-CREF Funds.
b Restricted security. At 8/31/19, the total value of this security amounted to $100,701,190 or 4.7% of net assets.
10

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2055 Fund

 

TIAA-CREF LIFECYCLE FUNDS

LIFECYCLE 2055 FUND

SCHEDULE OF INVESTMENTS (unaudited)

August 31, 2019

 

SHARES     SECURITY  VALUE 
             
AFFILIATED INVESTMENT COMPANIES - 99.6%a     
             
DIRECT REAL ESTATE - 4.7%     
 3,089,569b    TIAA-CREF Real Property Fund LP (purchased 8/01/16-8/29/19; cost $33,564,729)  $36,240,640 
       TOTAL DIRECT REAL ESTATE   36,240,640 
             
FIXED INCOME - 2.8%     
 1,052,212     TIAA-CREF Bond Fund   11,342,841 
 652,435     TIAA-CREF Bond Plus Fund   7,046,303 
 154,873     TIAA-CREF Emerging Markets Debt Fund   1,565,762 
 56,034     TIAA-CREF High-Yield Fund   544,090 
 107,504     TIAA-CREF International Bond Fund   1,130,942 
       TOTAL FIXED INCOME   21,629,938 
             
INTERNATIONAL EQUITY - 27.7%     
 3,397,338     TIAA-CREF Emerging Markets Equity Fund   36,759,201 
 4,543,177     TIAA-CREF International Equity Fund   46,931,020 
 3,557,865     TIAA-CREF International Opportunities Fund   46,857,084 
 8,143,096     TIAA-CREF Quant International Equity Fund   56,675,949 
 2,928,043     TIAA-CREF Quant International Small-Cap Equity Fund   28,724,098 
       TOTAL INTERNATIONAL EQUITY   215,947,352 
             
U.S. EQUITY - 64.4%     
 7,355,221     TIAA-CREF Growth & Income Fund   105,694,520 
 4,527,774     TIAA-CREF Large-Cap Growth Fund   96,758,534 
 5,409,212     TIAA-CREF Large-Cap Value Fund   90,928,852 
 5,858,521     TIAA-CREF Quant Large-Cap Growth Fund   84,714,209 
 8,061,351     TIAA-CREF Quant Large-Cap Value Fund   79,646,144 
 1,521,257     TIAA-CREF Quant Small-Cap Equity Fund   24,370,531 
 1,648,412     TIAA-CREF Quant Small/Mid-Cap Equity Fund   19,715,004 
       TOTAL U.S. EQUITY   501,827,794 
             
       TOTAL AFFILIATED INVESTMENT COMPANIES   775,645,724 
       (Cost $724,714,719)     
             
       TOTAL INVESTMENTS - 99.6%   775,645,724 
       (Cost $724,714,719)     
       OTHER ASSETS & LIABILITIES, NET - 0.4%   3,184,539 
       NET ASSETS - 100.0%  $778,830,263 

 

 

 

a The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP and Class W shares of the affiliated TIAA-CREF Funds.
b Restricted security. At 8/31/19, the total value of this security amounted to $36,240,640 or 4.7% of net assets.
11

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2060 Fund

 

TIAA-CREF LIFECYCLE FUNDS

LIFECYCLE 2060 FUND

SCHEDULE OF INVESTMENTS (unaudited)

August 31, 2019

 

SHARES     SECURITY  VALUE 
             
AFFILIATED INVESTMENT COMPANIES - 99.2%a     
             
DIRECT REAL ESTATE - 4.7%     
 590,684b    TIAA-CREF Real Property Fund LP (purchased 8/01/16-8/29/19; cost $6,485,345)  $6,928,728 
       TOTAL DIRECT REAL ESTATE   6,928,728 
             
FIXED INCOME - 1.5%     
 111,174     TIAA-CREF Bond Fund   1,198,456 
 68,924     TIAA-CREF Bond Plus Fund   744,379 
 12,188     TIAA-CREF Emerging Markets Debt Fund   123,219 
 10,258     TIAA-CREF High-Yield Fund   99,606 
 10,927     TIAA-CREF International Bond Fund   114,953 
       TOTAL FIXED INCOME   2,280,613 
             
INTERNATIONAL EQUITY - 28.0%     
 658,199     TIAA-CREF Emerging Markets Equity Fund   7,121,712 
 879,475     TIAA-CREF International Equity Fund   9,084,979 
 688,516     TIAA-CREF International Opportunities Fund   9,067,749 
 1,577,377     TIAA-CREF Quant International Equity Fund   10,978,545 
 566,343     TIAA-CREF Quant International Small-Cap Equity Fund   5,555,829 
       TOTAL INTERNATIONAL EQUITY   41,808,814 
             
U.S. EQUITY - 65.0%     
 1,424,406     TIAA-CREF Growth & Income Fund   20,468,711 
 876,905     TIAA-CREF Large-Cap Growth Fund   18,739,453 
 1,047,560     TIAA-CREF Large-Cap Value Fund   17,609,476 
 1,134,492     TIAA-CREF Quant Large-Cap Growth Fund   16,404,761 
 1,561,578     TIAA-CREF Quant Large-Cap Value Fund   15,428,386 
 294,628     TIAA-CREF Quant Small-Cap Equity Fund   4,719,939 
 319,257     TIAA-CREF Quant Small/Mid-Cap Equity Fund   3,818,309 
       TOTAL U.S. EQUITY   97,189,035 
             
       TOTAL AFFILIATED INVESTMENT COMPANIES   148,207,190 
       (Cost $144,426,696)     
             
       TOTAL INVESTMENTS - 99.2%   148,207,190 
       (Cost $144,426,696)     
       OTHER ASSETS & LIABILITIES, NET - 0.8%   1,214,901 
       NET ASSETS - 100.0%  $149,422,091 

 

 

 

a The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP and Class W shares of the affiliated TIAA-CREF Funds.
b Restricted security. At 8/31/19, the total value of this security amounted to $6,928,728 or 4.7% of net assets.
12

TIAA-CREF Lifecycle Funds - Notes to Schedules 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 Funds’ own assumptions in determining the fair value of investments)

 

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

 

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

 

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

 

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

 

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

 

The following table summarizes the market value of the Funds’ investments as of August 31, 2019, based on the inputs used to value them:

13

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

 

Fund  Level 1   Level 2   Level 3   Fair value using practical expedienta   Total 
Lifecycle Retirement Income                         
Registered investment companies  $524,695,289   $-   $-   $-   $524,695,289 
TIAA-CREF Real Property Fund LP   -    -    -    26,008,370    26,008,370 
Total  $524,695,289   $-   $-   $26,008,370   $550,703,659 
Lifecycle 2010                         
Registered investment companies  $1,159,077,207   $-   $-   $-   $1,159,077,207 
TIAA-CREF Real Property Fund LP   -    -    -    57,399,619    57,399,619 
Total  $1,159,077,207   $-   $-   $57,399,619   $1,216,476,826 
Lifecycle 2015                         
Registered investment companies  $1,740,216,269   $-   $-   $-   $1,740,216,269 
TIAA-CREF Real Property Fund LP   -    -    -    86,138,476    86,138,476 
Total  $1,740,216,269   $-   $-   $86,138,476   $1,826,354,745 
Lifecycle 2020                         
Registered investment companies  $3,621,589,990   $-   $-   $-   $3,621,589,990 
TIAA-CREF Real Property Fund LP   -    -    -    178,936,536    178,936,536 
Total  $3,621,589,990   $-   $-   $178,936,536   $3,800,526,526 
Lifecycle 2025                         
Registered investment companies  $4,415,278,573   $-   $-   $-   $4,415,278,573 
TIAA-CREF Real Property Fund LP   -    -    -    218,002,027    218,002,027 
Total  $4,415,278,573   $-   $-   $218,002,027   $4,633,280,600 
Lifecycle 2030                         
Registered investment companies  $4,396,573,185   $-   $-   $-   $4,396,573,185 
TIAA-CREF Real Property Fund LP   -    -    -    216,711,087    216,711,087 
Total  $4,396,573,185   $-   $-   $216,711,087   $4,613,284,272 
Lifecycle 2035                         
Registered investment companies  $4,443,711,292   $-   $-   $-   $4,443,711,292 
TIAA-CREF Real Property Fund LP   -    -    -    218,685,671    218,685,671 
Total  $4,443,711,292   $-   $-   $218,685,671   $4,662,396,963 
Lifecycle 2040                         
Registered investment companies  $5,251,440,275   $-   $-   $-   $5,251,440,275 
TIAA-CREF Real Property Fund LP   -    -    -    258,128,539    258,128,539 
Total  $5,251,440,275   $-   $-   $258,128,539   $5,509,568,814 
Lifecycle 2045                         
Registered investment companies  $3,028,741,927   $-   $-   $-   $3,028,741,927 
TIAA-CREF Real Property Fund LP   -    -    -    148,625,674    148,625,674 
Total  $3,028,741,927   $-   $-   $148,625,674   $3,177,367,601 
Lifecycle 2050                         
Registered investment companies  $2,052,383,774   $-   $-   $-   $2,052,383,774 
TIAA-CREF Real Property Fund LP   -    -    -    100,701,190    100,701,190 
Total  $2,052,383,774   $-   $-   $100,701,190   $2,153,084,964 
Lifecycle 2055                         
Registered investment companies  $739,405,084   $-   $-   $-   $739,405,084 
TIAA-CREF Real Property Fund LP   -    -    -    36,240,640    36,240,640 
Total  $739,405,084   $-   $-   $36,240,640   $775,645,724 
Lifecycle 2060                         
Registered investment companies  $141,278,462   $-   $-   $-   $141,278,462 
TIAA-CREF Real Property Fund LP   -    -    -    6,928,728    6,928,728 
Total  $141,278,462   $-   $-   $6,928,728   $148,207,190 

 

a In accordance with ASC 820, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the schedules of investments.
14