NPORT-EX 2 c100514_LC_nportex.htm

TIAA-CREF LIFECYCLE FUNDS – Lifecycle Retirement Income Fund

 

TIAA-CREF LIFECYCLE FUNDS

LIFECYCLE RETIREMENT INCOME FUND

SCHEDULE OF INVESTMENTS (unaudited)

August 31, 2020

 

SHARES      SECURITY  VALUE 
              
AFFILIATED INVESTMENT COMPANIES—99.8%a     
              
DIRECT REAL ESTATE—4.0%    
 2,120,642   b  TIAA-CREF Real Property Fund LP (purchased 8/01/16-7/30/20; cost $22,495,576)  $22,754,489 
        TOTAL DIRECT REAL ESTATE   22,754,489 
              
FIXED INCOME—39.8%     
 10,402,670      TIAA-CREF Core Bond Fund   115,573,665 
 6,623,858      TIAA-CREF Core Plus Bond Fund   73,458,584 
 1,352,432      TIAA-CREF Emerging Markets Debt Fund   13,362,032 
 1,493,699      TIAA-CREF High-Yield Fund   13,966,082 
 1,151,323      TIAA-CREF International Bond Fund   11,766,523 
        TOTAL FIXED INCOME   228,126,886 
              
INFLATION-PROTECTED ASSETS—9.9%     
 4,645,799      TIAA-CREF Inflation-Linked Bond Fund   56,911,037 
        TOTAL INFLATION-PROTECTED ASSETS   56,911,037 
              
INTERNATIONAL EQUITY—10.9%     
 974,001      TIAA-CREF Emerging Markets Equity Fund   12,175,016 
 1,180,574      TIAA-CREF International Equity Fund   13,671,045 
 774,504      TIAA-CREF International Opportunities Fund   12,639,905 
 2,174,409      TIAA-CREF Quant International Equity Fund   15,612,258 
 822,655      TIAA-CREF Quant International Small-Cap Equity Fund   8,070,249 
        TOTAL INTERNATIONAL EQUITY   62,168,473 
              
SHORT-TERM FIXED INCOME—9.9%     
 5,385,836      TIAA-CREF Short-Term Bond Fund   56,551,280 
        TOTAL SHORT-TERM FIXED INCOME   56,551,280 
              
U.S. EQUITY—25.3%     
 932,509      Nuveen Dividend Value Fund   11,357,965 
 1,981,249      TIAA-CREF Growth & Income Fund   31,858,481 
 1,013,042      TIAA-CREF Large-Cap Growth Fund   29,793,555 
 1,556,305      TIAA-CREF Large-Cap Value Fund   26,036,981 
 1,364,428      TIAA-CREF Quant Large-Cap Growth Fund   25,951,430 
 1,018,595      TIAA-CREF Quant Large-Cap Value Fund   8,841,408 
 415,039      TIAA-CREF Quant Small-Cap Equity Fund   6,063,714 
 424,704      TIAA-CREF Quant Small/Mid-Cap Equity Fund   4,926,561 
        TOTAL U.S. EQUITY   144,830,095 
              
        TOTAL AFFILIATED INVESTMENT COMPANIES   571,342,260 
        (Cost $489,246,756)     
              
        TOTAL INVESTMENTS—99.8%   571,342,260 
        (Cost $489,246,756)     
        OTHER ASSETS & LIABILITIES, NET—0.2%   1,353,294 
        NET ASSETS—100.0%  $572,695,554 
   
   
a The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP, Class W shares of the affiliated TIAA-CREF Funds and Class R6 shares of the affiliated Nuveen Funds.
b Restricted security. At 8/31/20, the total value of this security amounted to $22,754,489 or 4.0% of net assets.
1

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2010 Fund

 

TIAA-CREF LIFECYCLE FUNDS

LIFECYCLE 2010 FUND

SCHEDULE OF INVESTMENTS (unaudited)

August 31, 2020

 

SHARES      SECURITY  VALUE 
              
AFFILIATED INVESTMENT COMPANIES—99.9%a     
              
DIRECT REAL ESTATE—4.0%     
 4,545,584   b  TIAA-CREF Real Property Fund LP (purchased 7/01/16-7/16/20; cost $47,816,524)  $48,774,116 
        TOTAL DIRECT REAL ESTATE   48,774,116 
              
FIXED INCOME—39.8%     
 22,237,174      TIAA-CREF Core Bond Fund   247,055,003 
 14,156,381      TIAA-CREF Core Plus Bond Fund   156,994,269 
 2,897,138      TIAA-CREF Emerging Markets Debt Fund   28,623,727 
 3,191,398      TIAA-CREF High-Yield Fund   29,839,569 
 2,459,980      TIAA-CREF International Bond Fund   25,140,999 
        TOTAL FIXED INCOME   487,653,567 
              
INFLATION-PROTECTED ASSETS—10.0%     
 9,943,005      TIAA-CREF Inflation-Linked Bond Fund   121,801,816 
        TOTAL INFLATION-PROTECTED ASSETS   121,801,816 
              
INTERNATIONAL EQUITY—10.8%     
 2,082,416      TIAA-CREF Emerging Markets Equity Fund   26,030,201 
 2,520,126      TIAA-CREF International Equity Fund   29,183,057 
 1,654,430      TIAA-CREF International Opportunities Fund   27,000,297 
 4,638,190      TIAA-CREF Quant International Equity Fund   33,302,204 
 1,754,351      TIAA-CREF Quant International Small-Cap Equity Fund   17,210,188 
        TOTAL INTERNATIONAL EQUITY   132,725,947 
              
SHORT-TERM FIXED INCOME—10.0%     
 11,669,428      TIAA-CREF Short-Term Bond Fund   122,528,993 
        TOTAL SHORT-TERM FIXED INCOME   122,528,993 
              
U.S. EQUITY—25.3%     
 1,989,616      Nuveen Dividend Value Fund   24,233,528 
 4,220,754      TIAA-CREF Growth & Income Fund   67,869,727 
 2,164,172      TIAA-CREF Large-Cap Growth Fund   63,648,295 
 3,319,618      TIAA-CREF Large-Cap Value Fund   55,537,209 
 2,912,768      TIAA-CREF Quant Large-Cap Growth Fund   55,400,840 
 2,203,383      TIAA-CREF Quant Large-Cap Value Fund   19,125,369 
 887,299      TIAA-CREF Quant Small-Cap Equity Fund   12,963,434 
 903,335      TIAA-CREF Quant Small/Mid-Cap Equity Fund   10,478,689 
        TOTAL U.S. EQUITY   309,257,091 
              
        TOTAL AFFILIATED INVESTMENT COMPANIES   1,222,741,530 
        (Cost $1,007,282,747)     
              
        TOTAL INVESTMENTS—99.9%   1,222,741,530 
        (Cost $1,007,282,747)     
        OTHER ASSETS & LIABILITIES, NET—0.1%   844,981 
        NET ASSETS—100.0%  $1,223,586,511 
   
   
a The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP, Class W shares of the affiliated TIAA-CREF Funds and Class R6 shares of the affiliated Nuveen Funds.
b Restricted security. At 8/31/20, the total value of this security amounted to $48,774,116 or 4.0% of net assets.
2

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2015 Fund

 

TIAA-CREF LIFECYCLE FUNDS

LIFECYCLE 2015 FUND

SCHEDULE OF INVESTMENTS (unaudited)

August 31, 2020

 

SHARES      SECURITY  VALUE 
              
AFFILIATED INVESTMENT COMPANIES—99.8%a     
              
DIRECT REAL ESTATE—4.0%     
 6,595,891   b  TIAA-CREF Real Property Fund LP (purchased 11/28/16-6/25/20; cost $69,736,896)  $70,773,905 
        TOTAL DIRECT REAL ESTATE   70,773,905 
              
FIXED INCOME—38.8%     
 31,388,451      TIAA-CREF Core Bond Fund   348,725,696 
 20,007,092      TIAA-CREF Core Plus Bond Fund   221,878,649 
 4,112,191      TIAA-CREF Emerging Markets Debt Fund   40,628,450 
 4,546,151      TIAA-CREF High-Yield Fund   42,506,507 
 3,474,927      TIAA-CREF International Bond Fund   35,513,759 
        TOTAL FIXED INCOME   689,253,061 
              
INFLATION-PROTECTED ASSETS—8.0%     
 11,593,498      TIAA-CREF Inflation-Linked Bond Fund   142,020,351 
        TOTAL INFLATION-PROTECTED ASSETS   142,020,351 
              
INTERNATIONAL EQUITY—12.3%     
 3,421,089      TIAA-CREF Emerging Markets Equity Fund   42,763,616 
 4,141,747      TIAA-CREF International Equity Fund   47,961,432 
 2,752,142      TIAA-CREF International Opportunities Fund   44,914,963 
 7,665,278      TIAA-CREF Quant International Equity Fund   55,036,697 
 2,900,051      TIAA-CREF Quant International Small-Cap Equity Fund   28,449,501 
        TOTAL INTERNATIONAL EQUITY   219,126,209 
              
SHORT-TERM FIXED INCOME—7.9%     
 13,430,498      TIAA-CREF Short-Term Bond Fund   141,020,227 
        TOTAL SHORT-TERM FIXED INCOME   141,020,227 
              
U.S. EQUITY—28.8%     
 3,288,536      Nuveen Dividend Value Fund   40,054,369 
 6,966,468      TIAA-CREF Growth & Income Fund   112,020,806 
 3,560,266      TIAA-CREF Large-Cap Growth Fund   104,707,434 
 5,480,749      TIAA-CREF Large-Cap Value Fund   91,692,936 
 4,809,052      TIAA-CREF Quant Large-Cap Growth Fund   91,468,173 
 3,711,413      TIAA-CREF Quant Large-Cap Value Fund   32,215,066 
 1,463,461      TIAA-CREF Quant Small-Cap Equity Fund   21,381,165 
 1,496,133      TIAA-CREF Quant Small/Mid-Cap Equity Fund   17,355,145 
        TOTAL U.S. EQUITY   510,895,094 
              
        TOTAL AFFILIATED INVESTMENT COMPANIES   1,773,088,847 
        (Cost $1,580,769,544)     
              
        TOTAL INVESTMENTS—99.8%   1,773,088,847 
        (Cost $1,580,769,544)     
        OTHER ASSETS & LIABILITIES, NET—0.2%   3,405,989 
        NET ASSETS—100.0%  $1,776,494,836 
   
   
a The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP, Class W shares of the affiliated TIAA-CREF Funds and Class R6 shares of the affiliated Nuveen Funds.
b Restricted security. At 8/31/20, the total value of this security amounted to $70,773,905 or 4.0% of net assets.
3

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2020 Fund

 

TIAA-CREF LIFECYCLE FUNDS

LIFECYCLE 2020 FUND

SCHEDULE OF INVESTMENTS (unaudited)

August 31, 2020

 

SHARES      SECURITY  VALUE 
              
AFFILIATED INVESTMENT COMPANIES—99.8%a     
              
DIRECT REAL ESTATE—4.0%     
 14,184,079   b  TIAA-CREF Real Property Fund LP (purchased 11/28/16-3/17/20; cost $150,420,836)  $152,195,167 
        TOTAL DIRECT REAL ESTATE   152,195,167 
              
FIXED INCOME—37.8%     
 65,732,667      TIAA-CREF Core Bond Fund   730,289,927 
 41,913,025      TIAA-CREF Core Plus Bond Fund   464,815,451 
 8,657,938      TIAA-CREF Emerging Markets Debt Fund   85,540,423 
 9,560,520      TIAA-CREF High-Yield Fund   89,390,861 
 7,285,779      TIAA-CREF International Bond Fund   74,460,665 
        TOTAL FIXED INCOME   1,444,497,327 
              
INFLATION-PROTECTED ASSETS—6.0%     
 18,729,782      TIAA-CREF Inflation-Linked Bond Fund   229,439,833 
        TOTAL INFLATION-PROTECTED ASSETS   229,439,833 
              
INTERNATIONAL EQUITY—13.8%     
 8,240,165      TIAA-CREF Emerging Markets Equity Fund   103,002,066 
 9,913,706      TIAA-CREF International Equity Fund   114,800,711 
 6,684,967      TIAA-CREF International Opportunities Fund   109,098,658 
 18,461,332      TIAA-CREF Quant International Equity Fund   132,552,363 
 6,982,201      TIAA-CREF Quant International Small-Cap Equity Fund   68,495,394 
        TOTAL INTERNATIONAL EQUITY   527,949,192 
              
SHORT-TERM FIXED INCOME—6.0%     
 21,707,053      TIAA-CREF Short-Term Bond Fund   227,924,052 
        TOTAL SHORT-TERM FIXED INCOME   227,924,052 
              
U.S. EQUITY—32.2%     
 7,915,114      Nuveen Dividend Value Fund   96,406,088 
 16,788,986      TIAA-CREF Growth & Income Fund   269,966,894 
 8,599,122      TIAA-CREF Large-Cap Growth Fund   252,900,181 
 13,213,173      TIAA-CREF Large-Cap Value Fund   221,056,385 
 11,577,004      TIAA-CREF Quant Large-Cap Growth Fund   220,194,616 
 9,184,869      TIAA-CREF Quant Large-Cap Value Fund   79,724,667 
 3,528,300      TIAA-CREF Quant Small-Cap Equity Fund   51,548,466 
 3,597,145      TIAA-CREF Quant Small/Mid-Cap Equity Fund   41,726,884 
        TOTAL U.S. EQUITY   1,233,524,181 
              
        TOTAL AFFILIATED INVESTMENT COMPANIES   3,815,529,752 
        (Cost $3,364,940,982)     
              
        TOTAL INVESTMENTS—99.8%   3,815,529,752 
        (Cost $3,364,940,982)     
        OTHER ASSETS & LIABILITIES, NET—0.2%   7,829,505 
        NET ASSETS—100.0%  $3,823,359,257 
   
   
a The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP, Class W shares of the affiliated TIAA-CREF Funds and Class R6 shares of the affiliated Nuveen Funds.
b Restricted security. At 8/31/20, the total value of this security amounted to $152,195,167 or 4.0% of net assets.
4

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2025 Fund

 

TIAA-CREF LIFECYCLE FUNDS

LIFECYCLE 2025 FUND

SCHEDULE OF INVESTMENTS (unaudited)

August 31, 2020

 

SHARES      SECURITY  VALUE 
              
AFFILIATED INVESTMENT COMPANIES—99.9%a     
              
DIRECT REAL ESTATE—4.0%     
 18,341,537   b  TIAA-CREF Real Property Fund LP (purchased 8/01/16-6/25/20; cost $195,270,868)  $196,804,693 
        TOTAL DIRECT REAL ESTATE   196,804,693 
              
FIXED INCOME—33.1%     
 73,993,440      TIAA-CREF Core Bond Fund   822,067,120 
 47,364,358      TIAA-CREF Core Plus Bond Fund   525,270,735 
 10,082,805      TIAA-CREF Emerging Markets Debt Fund   99,618,118 
 11,115,727      TIAA-CREF High-Yield Fund   103,932,044 
 8,230,303      TIAA-CREF International Bond Fund   84,113,700 
        TOTAL FIXED INCOME   1,635,001,717 
              
INFLATION-PROTECTED ASSETS—4.0%     
 16,175,604      TIAA-CREF Inflation-Linked Bond Fund   198,151,150 
        TOTAL INFLATION-PROTECTED ASSETS   198,151,150 
              
INTERNATIONAL EQUITY—16.4%     
 12,588,735      TIAA-CREF Emerging Markets Equity Fund   157,359,188 
 15,113,043      TIAA-CREF International Equity Fund   175,009,043 
 10,360,257      TIAA-CREF International Opportunities Fund   169,079,390 
 28,315,516      TIAA-CREF Quant International Equity Fund   203,305,402 
 10,708,674      TIAA-CREF Quant International Small-Cap Equity Fund   105,052,090 
        TOTAL INTERNATIONAL EQUITY   809,805,113 
              
SHORT-TERM FIXED INCOME—4.0%     
 18,742,875      TIAA-CREF Short-Term Bond Fund   196,800,185 
        TOTAL SHORT-TERM FIXED INCOME   196,800,185 
              
U.S. EQUITY—38.4%     
 12,151,117      Nuveen Dividend Value Fund   148,000,606 
 25,764,666      TIAA-CREF Growth & Income Fund   414,295,835 
 13,186,146      TIAA-CREF Large-Cap Growth Fund   387,804,544 
 20,276,202      TIAA-CREF Large-Cap Value Fund   339,220,855 
 17,769,838      TIAA-CREF Quant Large-Cap Growth Fund   337,982,320 
 14,553,612      TIAA-CREF Quant Large-Cap Value Fund   126,325,352 
 5,411,975      TIAA-CREF Quant Small-Cap Equity Fund   79,068,958 
 5,531,517      TIAA-CREF Quant Small/Mid-Cap Equity Fund   64,165,601 
        TOTAL U.S. EQUITY   1,896,864,071 
              
        TOTAL AFFILIATED INVESTMENT COMPANIES   4,933,426,929 
        (Cost $4,292,552,778)     
              
        TOTAL INVESTMENTS—99.9%   4,933,426,929 
        (Cost $4,292,552,778)     
        OTHER ASSETS & LIABILITIES, NET—0.1%   7,864,431 
        NET ASSETS—100.0%  $4,941,291,360 
   
   
a The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP, Class W shares of the affiliated TIAA-CREF Funds and Class R6 shares of the affiliated Nuveen Funds.
b Restricted security. At 8/31/20, the total value of this security amounted to $196,804,693 or 4.0% of net assets.
5

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2030 Fund

 

TIAA-CREF LIFECYCLE FUNDS

LIFECYCLE 2030 FUND

SCHEDULE OF INVESTMENTS (unaudited)

August 31, 2020

 

SHARES      SECURITY  VALUE 
              
AFFILIATED INVESTMENT COMPANIES—99.8%a     
              
DIRECT REAL ESTATE—4.0%     
 18,921,322   b  TIAA-CREF Real Property Fund LP (purchased 8/01/16-6/25/20; cost $201,894,361)  $203,025,785 
        TOTAL DIRECT REAL ESTATE   203,025,785 
              
FIXED INCOME—28.3%     
 64,870,475      TIAA-CREF Core Bond Fund   720,710,973 
 41,727,157      TIAA-CREF Core Plus Bond Fund   462,754,172 
 9,238,944      TIAA-CREF Emerging Markets Debt Fund   91,280,764 
 10,154,116      TIAA-CREF High-Yield Fund   94,940,987 
 7,253,210      TIAA-CREF International Bond Fund   74,127,810 
        TOTAL FIXED INCOME   1,443,814,706 
              
INFLATION-PROTECTED ASSETS—2.0%     
 8,434,090      TIAA-CREF Inflation-Linked Bond Fund   103,317,599 
        TOTAL INFLATION-PROTECTED ASSETS   103,317,599 
              
INTERNATIONAL EQUITY—19.0%     
 15,026,323      TIAA-CREF Emerging Markets Equity Fund   187,829,032 
 17,955,788      TIAA-CREF International Equity Fund   207,928,021 
 12,482,960      TIAA-CREF International Opportunities Fund   203,721,914 
 33,824,916      TIAA-CREF Quant International Equity Fund   242,862,898 
 12,789,127      TIAA-CREF Quant International Small-Cap Equity Fund   125,461,340 
        TOTAL INTERNATIONAL EQUITY   967,803,205 
              
SHORT-TERM FIXED INCOME—2.0%     
 9,782,615      TIAA-CREF Short-Term Bond Fund   102,717,453 
        TOTAL SHORT-TERM FIXED INCOME   102,717,453 
              
U.S. EQUITY—44.5%     
 14,543,755      Nuveen Dividend Value Fund   177,142,933 
 30,790,857      TIAA-CREF Growth & Income Fund   495,116,981 
 15,752,549      TIAA-CREF Large-Cap Growth Fund   463,282,461 
 24,220,032      TIAA-CREF Large-Cap Value Fund   405,201,141 
 21,224,111      TIAA-CREF Quant Large-Cap Growth Fund   403,682,584 
 17,895,460      TIAA-CREF Quant Large-Cap Value Fund   155,332,589 
 6,467,099      TIAA-CREF Quant Small-Cap Equity Fund   94,484,311 
 6,587,809      TIAA-CREF Quant Small/Mid-Cap Equity Fund   76,418,586 
        TOTAL U.S. EQUITY   2,270,661,586 
              
        TOTAL AFFILIATED INVESTMENT COMPANIES   5,091,340,334 
        (Cost $4,371,317,727)     
              
        TOTAL INVESTMENTS—99.8%   5,091,340,334 
        (Cost $4,371,317,727)     
        OTHER ASSETS & LIABILITIES, NET—0.2%   9,330,416 
        NET ASSETS—100.0%  $5,100,670,750 
   
   
a The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP, Class W shares of the affiliated TIAA-CREF Funds and Class R6 shares of the affiliated Nuveen Funds.
b Restricted security. At 8/31/20, the total value of this security amounted to $203,025,785 or 4.0% of net assets.
6

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2035 Fund

 

TIAA-CREF LIFECYCLE FUNDS

LIFECYCLE 2035 FUND

SCHEDULE OF INVESTMENTS (unaudited)

August 31, 2020

 

SHARES      SECURITY  VALUE 
              
AFFILIATED INVESTMENT COMPANIES—99.8%a     
              
DIRECT REAL ESTATE—4.0%     
 19,268,789   b  TIAA-CREF Real Property Fund LP (purchased 8/01/16-8/28/20; cost $205,612,321)  $206,754,106 
        TOTAL DIRECT REAL ESTATE   206,754,106 
              
FIXED INCOME—23.5%     
 54,343,679      TIAA-CREF Core Bond Fund   603,758,270 
 35,203,310      TIAA-CREF Core Plus Bond Fund   390,404,710 
 8,214,106      TIAA-CREF Emerging Markets Debt Fund   81,155,369 
 8,993,846      TIAA-CREF High-Yield Fund   84,092,456 
 6,116,676      TIAA-CREF International Bond Fund   62,512,425 
        TOTAL FIXED INCOME   1,221,923,230 
              
INFLATION-PROTECTED ASSETS—0.1%     
 213,857      TIAA-CREF Inflation-Linked Bond Fund   2,619,752 
        TOTAL INFLATION-PROTECTED ASSETS   2,619,752 
              
INTERNATIONAL EQUITY—21.6%     
 17,340,574      TIAA-CREF Emerging Markets Equity Fund   216,757,174 
 20,730,339      TIAA-CREF International Equity Fund   240,057,325 
 14,519,446      TIAA-CREF International Opportunities Fund   236,957,362 
 39,122,305      TIAA-CREF Quant International Equity Fund   280,898,150 
 14,792,772      TIAA-CREF Quant International Small-Cap Equity Fund   145,117,096 
        TOTAL INTERNATIONAL EQUITY   1,119,787,107 
              
SHORT-TERM FIXED INCOME—0.0%     
 248,357      TIAA-CREF Short-Term Bond Fund   2,607,749 
        TOTAL SHORT-TERM FIXED INCOME   2,607,749 
              
U.S. EQUITY—50.6%     
 16,775,803      Nuveen Dividend Value Fund   204,329,277 
 35,617,873      TIAA-CREF Growth & Income Fund   572,735,398 
 18,212,280      TIAA-CREF Large-Cap Growth Fund   535,623,158 
 28,048,064      TIAA-CREF Large-Cap Value Fund   469,244,104 
 24,555,093      TIAA-CREF Quant Large-Cap Growth Fund   467,037,877 
 20,986,496      TIAA-CREF Quant Large-Cap Value Fund   182,162,787 
 7,466,082      TIAA-CREF Quant Small-Cap Equity Fund   109,079,452 
 7,602,862      TIAA-CREF Quant Small/Mid-Cap Equity Fund   88,193,196 
        TOTAL U.S. EQUITY   2,628,405,249 
              
        TOTAL AFFILIATED INVESTMENT COMPANIES   5,182,097,193 
        (Cost $4,376,918,912)     
              
        TOTAL INVESTMENTS—99.8%   5,182,097,193 
        (Cost $4,376,918,912)     
        OTHER ASSETS & LIABILITIES, NET—0.2%   8,930,905 
        NET ASSETS—100.0%  $5,191,028,098 
   
   
a The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP, Class W shares of the affiliated TIAA-CREF Funds and Class R6 shares of the affiliated Nuveen Funds.
b Restricted security. At 8/31/20, the total value of this security amounted to $206,754,106 or 4.0% of net assets.
7

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2040 Fund

 

TIAA-CREF LIFECYCLE FUNDS

LIFECYCLE 2040 FUND

SCHEDULE OF INVESTMENTS (unaudited)

August 31, 2020

 

SHARES      SECURITY  VALUE 
              
AFFILIATED INVESTMENT COMPANIES—99.9%a     
              
DIRECT REAL ESTATE—4.0%     
 22,768,627   b  TIAA-CREF Real Property Fund LP (purchased 8/01/16-8/28/20; cost $242,294,641)  $244,307,366 
        TOTAL DIRECT REAL ESTATE   244,307,366 
              
FIXED INCOME—15.0%     
 39,537,190      TIAA-CREF Core Bond Fund   439,258,184 
 26,266,830      TIAA-CREF Core Plus Bond Fund   291,299,150 
 7,190,957      TIAA-CREF Emerging Markets Debt Fund   71,046,653 
 7,851,776      TIAA-CREF High-Yield Fund   73,414,106 
 4,564,049      TIAA-CREF International Bond Fund   46,644,580 
        TOTAL FIXED INCOME   921,662,673 
              
INTERNATIONAL EQUITY—24.2%     
 22,924,492      TIAA-CREF Emerging Markets Equity Fund   286,556,144 
 27,325,923      TIAA-CREF International Equity Fund   316,434,194 
 19,275,893      TIAA-CREF International Opportunities Fund   314,582,570 
 51,777,047      TIAA-CREF Quant International Equity Fund   371,759,198 
 19,570,826      TIAA-CREF Quant International Small-Cap Equity Fund   191,989,807 
        TOTAL INTERNATIONAL EQUITY   1,481,321,913 
              
U.S. EQUITY—56.7%     
 22,193,683      Nuveen Dividend Value Fund   270,319,060 
 47,084,127      TIAA-CREF Growth & Income Fund   757,112,757 
 24,072,479      TIAA-CREF Large-Cap Growth Fund   707,971,603 
 37,074,338      TIAA-CREF Large-Cap Value Fund   620,253,674 
 32,483,154      TIAA-CREF Quant Large-Cap Growth Fund   617,829,592 
 28,107,738      TIAA-CREF Quant Large-Cap Value Fund   243,975,164 
 9,872,076      TIAA-CREF Quant Small-Cap Equity Fund   144,231,033 
 10,054,044      TIAA-CREF Quant Small/Mid-Cap Equity Fund   116,626,908 
        TOTAL U.S. EQUITY   3,478,319,791 
              
        TOTAL AFFILIATED INVESTMENT COMPANIES   6,125,611,743 
        (Cost $5,092,264,793)     
              
        TOTAL INVESTMENTS—99.9%   6,125,611,743 
        (Cost $5,092,264,793)     
        OTHER ASSETS & LIABILITIES, NET—0.1%   8,737,634 
        NET ASSETS—100.0%  $6,134,349,377 
   
   
a The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP, Class W shares of the affiliated TIAA-CREF Funds and Class R6 shares of the affiliated Nuveen Funds.
b Restricted security. At 8/31/20, the total value of this security amounted to $244,307,366 or 4.0% of net assets.
8

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2045 Fund

 

TIAA-CREF LIFECYCLE FUNDS

LIFECYCLE 2045 FUND

SCHEDULE OF INVESTMENTS (unaudited)

August 31, 2020

 

SHARES      SECURITY  VALUE 
              
AFFILIATED INVESTMENT COMPANIES—99.8%a     
              
DIRECT REAL ESTATE—4.0%     
 14,050,962   b  TIAA-CREF Real Property Fund LP (purchased 8/01/16-8/28/20; cost $150,508,506)  $150,766,822 
        TOTAL DIRECT REAL ESTATE   150,766,822 
              
FIXED INCOME—6.4%     
 9,064,342      TIAA-CREF Core Bond Fund   100,704,842 
 6,689,290      TIAA-CREF Core Plus Bond Fund   74,184,230 
 2,883,840      TIAA-CREF Emerging Markets Debt Fund   28,492,342 
 3,106,109      TIAA-CREF High-Yield Fund   29,042,123 
 1,162,452      TIAA-CREF International Bond Fund   11,880,263 
        TOTAL FIXED INCOME   244,303,800 
              
INTERNATIONAL EQUITY—26.7%     
 15,645,768      TIAA-CREF Emerging Markets Equity Fund   195,572,095 
 18,617,001      TIAA-CREF International Equity Fund   215,584,878 
 13,211,918      TIAA-CREF International Opportunities Fund   215,618,503 
 35,374,544      TIAA-CREF Quant International Equity Fund   253,989,226 
 13,360,877      TIAA-CREF Quant International Small-Cap Equity Fund   131,070,205 
        TOTAL INTERNATIONAL EQUITY   1,011,834,907 
              
U.S. EQUITY—62.7%     
 15,140,812      Nuveen Dividend Value Fund   184,415,095 
 32,138,940      TIAA-CREF Growth & Income Fund   516,794,163 
 16,422,293      TIAA-CREF Large-Cap Growth Fund   482,979,639 
 25,302,463      TIAA-CREF Large-Cap Value Fund   423,310,206 
 22,161,251      TIAA-CREF Quant Large-Cap Growth Fund   421,506,996 
 19,395,272      TIAA-CREF Quant Large-Cap Value Fund   168,350,962 
 6,733,444      TIAA-CREF Quant Small-Cap Equity Fund   98,375,622 
 6,861,055      TIAA-CREF Quant Small/Mid-Cap Equity Fund   79,588,240 
        TOTAL U.S. EQUITY   2,375,320,923 
              
        TOTAL AFFILIATED INVESTMENT COMPANIES   3,782,226,452 
        (Cost $3,018,603,599)     
              
        TOTAL INVESTMENTS—99.8%   3,782,226,452 
        (Cost $3,018,603,599)     
        OTHER ASSETS & LIABILITIES, NET—0.2%   6,024,520 
        NET ASSETS—100.0%  $3,788,250,972 
   
   
a The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP, Class W shares of the affiliated TIAA-CREF Funds and Class R6 shares of the affiliated Nuveen Funds.
b Restricted security. At 8/31/20, the total value of this security amounted to $150,766,822 or 4.0% of net assets.
9

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2050 Fund

 

TIAA-CREF LIFECYCLE FUNDS

LIFECYCLE 2050 FUND

SCHEDULE OF INVESTMENTS (unaudited)

August 31, 2020

 

SHARES      SECURITY  VALUE 
              
AFFILIATED INVESTMENT COMPANIES—99.9%a     
              
DIRECT REAL ESTATE—4.0%     
 9,936,109   b  TIAA-CREF Real Property Fund LP (purchased 8/01/16-8/28/20; cost $106,790,919)  $106,614,448 
        TOTAL DIRECT REAL ESTATE   106,614,448 
              
FIXED INCOME—5.1%     
 4,645,014      TIAA-CREF Core Bond Fund   51,606,103 
 3,631,932      TIAA-CREF Core Plus Bond Fund   40,278,123 
 1,859,008      TIAA-CREF Emerging Markets Debt Fund   18,367,004 
 1,992,124      TIAA-CREF High-Yield Fund   18,626,358 
 631,114      TIAA-CREF International Bond Fund   6,449,982 
        TOTAL FIXED INCOME   135,327,570 
              
INTERNATIONAL EQUITY—27.1%     
 11,234,793      TIAA-CREF Emerging Markets Equity Fund   140,434,908 
 13,368,867      TIAA-CREF International Equity Fund   154,811,481 
 9,507,382      TIAA-CREF International Opportunities Fund   155,160,468 
 25,418,544      TIAA-CREF Quant International Equity Fund   182,505,144 
 9,603,307      TIAA-CREF Quant International Small-Cap Equity Fund   94,208,437 
        TOTAL INTERNATIONAL EQUITY   727,120,438 
              
U.S. EQUITY—63.7%     
 10,875,915      Nuveen Dividend Value Fund   132,468,639 
 23,083,599      TIAA-CREF Growth & Income Fund   371,184,278 
 11,800,032      TIAA-CREF Large-Cap Growth Fund   347,038,940 
 18,166,659      TIAA-CREF Large-Cap Value Fund   303,928,200 
 15,908,356      TIAA-CREF Quant Large-Cap Growth Fund   302,576,928 
 13,957,261      TIAA-CREF Quant Large-Cap Value Fund   121,149,023 
 4,849,231      TIAA-CREF Quant Small-Cap Equity Fund   70,847,261 
 4,937,272      TIAA-CREF Quant Small/Mid-Cap Equity Fund   57,272,356 
        TOTAL U.S. EQUITY   1,706,465,625 
              
        TOTAL AFFILIATED INVESTMENT COMPANIES   2,675,528,081 
        (Cost $2,164,887,354)     
              
        TOTAL INVESTMENTS—99.9%   2,675,528,081 
        (Cost $2,164,887,354)     
        OTHER ASSETS & LIABILITIES, NET—0.1%   3,820,093 
        NET ASSETS—100.0%  $2,679,348,174 
   
   
a The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP, Class W shares of the affiliated TIAA-CREF Funds and Class R6 shares of the affiliated Nuveen Funds.
b Restricted security. At 8/31/20, the total value of this security amounted to $106,614,448 or 4.0% of net assets.
10

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2055 Fund

 

TIAA-CREF LIFECYCLE FUNDS

LIFECYCLE 2055 FUND

SCHEDULE OF INVESTMENTS (unaudited)

August 31, 2020

 

SHARES      SECURITY  VALUE 
              
AFFILIATED INVESTMENT COMPANIES—99.8%a     
              
DIRECT REAL ESTATE—4.0%     
 3,961,688   b  TIAA-CREF Real Property Fund LP (purchased 8/01/16-8/28/20; cost $43,017,547)  $42,508,916 
        TOTAL DIRECT REAL ESTATE   42,508,916 
              
FIXED INCOME—3.8%     
 1,238,745      TIAA-CREF Core Bond Fund   13,762,462 
 1,065,739      TIAA-CREF Core Plus Bond Fund   11,819,040 
 677,891      TIAA-CREF Emerging Markets Debt Fund   6,697,567 
 727,078      TIAA-CREF High-Yield Fund   6,798,176 
 185,256      TIAA-CREF International Bond Fund   1,893,320 
        TOTAL FIXED INCOME   40,970,565 
              
INTERNATIONAL EQUITY—27.5%     
 4,540,511      TIAA-CREF Emerging Markets Equity Fund   56,756,386 
 5,383,967      TIAA-CREF International Equity Fund   62,346,333 
 3,839,135      TIAA-CREF International Opportunities Fund   62,654,683 
 10,276,332      TIAA-CREF Quant International Equity Fund   73,784,065 
 3,887,683      TIAA-CREF Quant International Small-Cap Equity Fund   38,138,166 
        TOTAL INTERNATIONAL EQUITY   293,679,633 
              
U.S. EQUITY—64.5%     
 4,410,191      Nuveen Dividend Value Fund   53,716,128 
 9,328,727      TIAA-CREF Growth & Income Fund   150,005,927 
 4,779,012      TIAA-CREF Large-Cap Growth Fund   140,550,729 
 7,339,075      TIAA-CREF Large-Cap Value Fund   122,782,728 
 6,432,045      TIAA-CREF Quant Large-Cap Growth Fund   122,337,491 
 5,654,047      TIAA-CREF Quant Large-Cap Value Fund   49,077,125 
 1,959,790      TIAA-CREF Quant Small-Cap Equity Fund   28,632,539 
 1,997,369      TIAA-CREF Quant Small/Mid-Cap Equity Fund   23,169,478 
        TOTAL U.S. EQUITY   690,272,145 
              
        TOTAL AFFILIATED INVESTMENT COMPANIES   1,067,431,259 
        (Cost $904,468,796)     
              
        TOTAL INVESTMENTS—99.8%   1,067,431,259 
        (Cost $904,468,796)     
        OTHER ASSETS & LIABILITIES, NET—0.2%   2,000,144 
        NET ASSETS—100.0%  $1,069,431,403 
   
   
a The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP, Class W shares of the affiliated TIAA-CREF Funds and Class R6 shares of the affiliated Nuveen Funds.
b Restricted security. At 8/31/20, the total value of this security amounted to $42,508,916 or 4.0% of net assets.
11

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2060 Fund

 

TIAA-CREF LIFECYCLE FUNDS

LIFECYCLE 2060 FUND

SCHEDULE OF INVESTMENTS (unaudited)

August 31, 2020

 

SHARES      SECURITY  VALUE 
              
AFFILIATED INVESTMENT COMPANIES—99.6%a     
              
DIRECT REAL ESTATE—4.0%     
 933,274   b  TIAA-CREF Real Property Fund LP (purchased 8/01/16-8/28/20; cost $10,234,350)  $10,014,029 
        TOTAL DIRECT REAL ESTATE   10,014,029 
              
FIXED INCOME—2.6%     
 145,023      TIAA-CREF Core Bond Fund   1,611,201 
 159,957      TIAA-CREF Core Plus Bond Fund   1,773,918 
 145,677      TIAA-CREF Emerging Markets Debt Fund   1,439,288 
 155,122      TIAA-CREF High-Yield Fund   1,450,395 
 27,798      TIAA-CREF International Bond Fund   284,097 
        TOTAL FIXED INCOME   6,558,899 
              
INTERNATIONAL EQUITY—27.8%     
 1,083,178      TIAA-CREF Emerging Markets Equity Fund   13,539,726 
 1,284,231      TIAA-CREF International Equity Fund   14,871,393 
 914,793      TIAA-CREF International Opportunities Fund   14,929,420 
 2,453,794      TIAA-CREF Quant International Equity Fund   17,618,243 
 929,656      TIAA-CREF Quant International Small-Cap Equity Fund   9,119,922 
        TOTAL INTERNATIONAL EQUITY   70,078,704 
              
U.S. EQUITY—65.2%     
 1,053,738      Nuveen Dividend Value Fund   12,834,528 
 2,229,215      TIAA-CREF Growth & Income Fund   35,845,778 
 1,137,712      TIAA-CREF Large-Cap Growth Fund   33,460,101 
 1,749,167      TIAA-CREF Large-Cap Value Fund   29,263,568 
 1,533,555      TIAA-CREF Quant Large-Cap Growth Fund   29,168,223 
 1,353,175      TIAA-CREF Quant Large-Cap Value Fund   11,745,559 
 467,626      TIAA-CREF Quant Small-Cap Equity Fund   6,832,014 
 477,932      TIAA-CREF Quant Small/Mid-Cap Equity Fund   5,544,011 
        TOTAL U.S. EQUITY   164,693,782 
              
        TOTAL AFFILIATED INVESTMENT COMPANIES   251,345,414 
        (Cost $220,199,244)     
              
        TOTAL INVESTMENTS—99.6%   251,345,414 
        (Cost $220,199,244)     
        OTHER ASSETS & LIABILITIES, NET—0.4%   1,160,956 
        NET ASSETS—100.0%  $252,506,370 
   
   
a The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP, Class W shares of the affiliated TIAA-CREF Funds and Class R6 shares of the affiliated Nuveen Funds.
b Restricted security. At 8/31/20, the total value of this security amounted to $10,014,029 or 4.0% 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.

13

The following table summarizes the market value of the Funds’ investments as of August 31, 2020, based on the inputs used to value them:

 

Fund  Level 1   Level 2   Level 3   Fair Value using
Practical
Expedienta		   Total 
Lifecycle Retirement Income                         
Registered investment companies  $548,587,771   $—   $—   $—   $548,587,771 
TIAA-CREF Real Property Fund LP   —    —    —    22,754,489    22,754,489 
Total  $548,587,771   $—   $—   $22,754,489   $571,342,260 
Lifecycle 2010                         
Registered investment companies  $1,173,967,414   $—   $—   $—   $1,173,967,414 
TIAA-CREF Real Property Fund LP   —    —    —    48,774,116    48,774,116 
Total  $1,173,967,414   $—   $—   $48,774,116   $1,222,741,530 
Lifecycle 2015                         
Registered investment companies  $1,702,314,942   $—   $—   $—   $1,702,314,942 
TIAA-CREF Real Property Fund LP   —    —    —    70,773,905    70,773,905 
Total  $1,702,314,942   $—   $—   $70,773,905   $1,773,088,847 
Lifecycle 2020                         
Registered investment companies  $3,663,334,585   $—   $—   $—   $3,663,334,585 
TIAA-CREF Real Property Fund LP   —    —    —    152,195,167    152,195,167 
Total  $3,663,334,585   $—   $—   $152,195,167   $3,815,529,752 
Lifecycle 2025                         
Registered investment companies  $4,736,622,236   $—   $—   $—   $4,736,622,236 
TIAA-CREF Real Property Fund LP   —    —    —    196,804,693    196,804,693 
Total  $4,736,622,236   $—   $—   $196,804,693   $4,933,426,929 
Lifecycle 2030                         
Registered investment companies  $4,888,314,549   $—   $—   $—   $4,888,314,549 
TIAA-CREF Real Property Fund LP   —    —    —    203,025,785    203,025,785 
Total  $4,888,314,549   $—   $—   $203,025,785   $5,091,340,334 
Lifecycle 2035                         
Registered investment companies  $4,975,343,087   $—   $—   $—   $4,975,343,087 
TIAA-CREF Real Property Fund LP   —    —    —    206,754,106    206,754,106 
Total  $4,975,343,087   $—   $—   $206,754,106   $5,182,097,193 
Lifecycle 2040                         
Registered investment companies  $5,881,304,377   $—   $—   $—   $5,881,304,377 
TIAA-CREF Real Property Fund LP   —    —    —    244,307,366    244,307,366 
Total  $5,881,304,377   $—   $—   $244,307,366   $6,125,611,743 
Lifecycle 2045                         
Registered investment companies  $3,631,459,630   $—   $—   $—   $3,631,459,630 
TIAA-CREF Real Property Fund LP   —    —    —    150,766,822    150,766,822 
Total  $3,631,459,630   $—   $—   $150,766,822   $3,782,226,452 
Lifecycle 2050                         
Registered investment companies  $2,568,913,633   $—   $—   $—   $2,568,913,633 
TIAA-CREF Real Property Fund LP   —    —    —    106,614,448    106,614,448 
Total  $2,568,913,633   $—   $—   $106,614,448   $2,675,528,081 
Lifecycle 2055                         
Registered investment companies  $1,024,922,343   $—   $—   $—   $1,024,922,343 
TIAA-CREF Real Property Fund LP   —    —    —    42,508,916    42,508,916 
Total  $1,024,922,343   $—   $—   $42,508,916   $1,067,431,259 
Lifecycle 2060                         
Registered investment companies  $241,331,385   $—   $—   $—   $241,331,385 
TIAA-CREF Real Property Fund LP   —    —    —    10,014,029    10,014,029 
Total  $241,331,385   $—   $—   $10,014,029   $251,345,414 

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

A10998-D (10/20)