Portfolio

of

investments

(unaudited)

Lifecycle

Index

Retirement

Income

Fund

February

28,

2023

1

SHARES

SECURITY

VALUE

AFFILIATED

INVESTMENT

COMPANIES—99.8%a

FIXED

INCOME—39.9%

25,047,196

TIAA-CREF

Bond

Index

Fund

$

236,946,477‌

TOTAL

FIXED

INCOME

236,946,477‌

INFLATION-PROTECTED

ASSETS—10.1%

5,715,356

TIAA-CREF

Inflation-Linked

Bond

Fund

59,668,321‌

TOTAL

INFLATION-PROTECTED

ASSETS

59,668,321‌

INTERNATIONAL

EQUITY—13.9%

2,473,971

TIAA-CREF

Emerging

Markets

Equity

Index

Fund

24,591,272‌

2,861,461

TIAA-CREF

International

Equity

Index

Fund

57,572,590‌

TOTAL

INTERNATIONAL

EQUITY

82,163,862‌

SHORT-TERM

FIXED

INCOME—10.0%

6,304,608

TIAA-CREF

Short-Term

Bond

Index

Fund

59,641,590‌

TOTAL

SHORT-TERM

FIXED

INCOME

59,641,590‌

U.S.

EQUITY—25.9%

5,425,043

TIAA-CREF

Equity

Index

Fund

153,745,727‌

TOTAL

U.S.

EQUITY

153,745,727‌

TOTAL

AFFILIATED

INVESTMENT

COMPANIES

592,165,977‌

(Cost

$560,979,647)

PRINCIPAL

ISSUER

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS—0.0%

GOVERNMENT

AGENCY

DEBT—0.0%

$28,000

Federal

Home

Loan

Mortgage

Corp

(FHLMC)

0

.000

%

03/01/23

28,000‌

TOTAL

GOVERNMENT

AGENCY

DEBT

28,000‌

TOTAL

SHORT-TERM

INVESTMENTS

28,000‌

(Cost

$28,000)

TOTAL

INVESTMENTS—99.8%

592,193,977‌

(Cost

$561,007,647)

OTHER

ASSETS

&

LIABILITIES,

NET—0.2%

1,064,986‌

NET

ASSETS—100.0%

$

593,258,963‌

a

The

Fund

invests

its

assets

in

Class

W

shares

of

the

affiliated

TIAA-CREF

Funds.

Lifecycle

Index

2010

Fund

February

28,

2023

Portfolio

of

investments

(unaudited)

2

SHARES

SECURITY

VALUE

AFFILIATED

INVESTMENT

COMPANIES—99.9%a

FIXED

INCOME—40.0%

26,593,728

TIAA-CREF

Bond

Index

Fund

$

251,576,668‌

TOTAL

FIXED

INCOME

251,576,668‌

INFLATION-PROTECTED

ASSETS—10.0%

6,066,889

TIAA-CREF

Inflation-Linked

Bond

Fund

63,338,326‌

TOTAL

INFLATION-PROTECTED

ASSETS

63,338,326‌

INTERNATIONAL

EQUITY—13.0%

2,453,335

TIAA-CREF

Emerging

Markets

Equity

Index

Fund

24,386,155‌

2,837,811

TIAA-CREF

International

Equity

Index

Fund

57,096,762‌

TOTAL

INTERNATIONAL

EQUITY

81,482,917‌

SHORT-TERM

FIXED

INCOME—12.7%

8,448,920

TIAA-CREF

Short-Term

Bond

Index

Fund

79,926,783‌

TOTAL

SHORT-TERM

FIXED

INCOME

79,926,783‌

U.S.

EQUITY—24.2%

5,380,835

TIAA-CREF

Equity

Index

Fund

152,492,866‌

TOTAL

U.S.

EQUITY

152,492,866‌

TOTAL

AFFILIATED

INVESTMENT

COMPANIES

628,817,560‌

(Cost

$568,561,879)

PRINCIPAL

ISSUER

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS—0.2%

GOVERNMENT

AGENCY

DEBT—0.2%

$1,119,000

Federal

Farm

Credit

Bank

(FFCB)

0

.000

%

03/01/23

1,119,000‌

TOTAL

GOVERNMENT

AGENCY

DEBT

1,119,000‌

TOTAL

SHORT-TERM

INVESTMENTS

1,119,000‌

(Cost

$1,119,000)

TOTAL

INVESTMENTS—100.1%

629,936,560‌

(Cost

$569,680,879)

OTHER

ASSETS

&

LIABILITIES,

NET—(0.1)%

(

736,842‌

)

NET

ASSETS—100.0%

$

629,199,718‌

a

The

Fund

invests

its

assets

in

Class

W

shares

of

the

affiliated

TIAA-CREF

Funds.

Portfolio

of

investments

(unaudited)

Lifecycle

Index

2015

Fund

February

28,

2023

3

SHARES

SECURITY

VALUE

AFFILIATED

INVESTMENT

COMPANIES—99.9%a

FIXED

INCOME—39.5%

43,059,720

TIAA-CREF

Bond

Index

Fund

$

407,344,950‌

TOTAL

FIXED

INCOME

407,344,950‌

INFLATION-PROTECTED

ASSETS—9.1%

9,007,613

TIAA-CREF

Inflation-Linked

Bond

Fund

94,039,483‌

TOTAL

INFLATION-PROTECTED

ASSETS

94,039,483‌

INTERNATIONAL

EQUITY—14.7%

4,546,857

TIAA-CREF

Emerging

Markets

Equity

Index

Fund

45,195,757‌

5,268,009

TIAA-CREF

International

Equity

Index

Fund

105,992,346‌

TOTAL

INTERNATIONAL

EQUITY

151,188,103‌

SHORT-TERM

FIXED

INCOME—9.1%

9,936,242

TIAA-CREF

Short-Term

Bond

Index

Fund

93,996,853‌

TOTAL

SHORT-TERM

FIXED

INCOME

93,996,853‌

U.S.

EQUITY—27.5%

10,008,623

TIAA-CREF

Equity

Index

Fund

283,644,384‌

TOTAL

U.S.

EQUITY

283,644,384‌

TOTAL

AFFILIATED

INVESTMENT

COMPANIES

1,030,213,773‌

(Cost

$901,356,308)

PRINCIPAL

ISSUER

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS—0.0%

GOVERNMENT

AGENCY

DEBT—0.0%

$297,000

Federal

Farm

Credit

Bank

(FFCB)

0

.000

%

03/01/23

297,000‌

TOTAL

GOVERNMENT

AGENCY

DEBT

297,000‌

TOTAL

SHORT-TERM

INVESTMENTS

297,000‌

(Cost

$297,000)

TOTAL

INVESTMENTS—99.9%

1,030,510,773‌

(Cost

$901,653,308)

OTHER

ASSETS

&

LIABILITIES,

NET—0.1%

1,218,088‌

NET

ASSETS—100.0%

$

1,031,728,861‌

a

The

Fund

invests

its

assets

in

Class

W

shares

of

the

affiliated

TIAA-CREF

Funds.

Lifecycle

Index

2020

Fund

February

28,

2023

Portfolio

of

investments

(unaudited)

4

SHARES

SECURITY

VALUE

AFFILIATED

INVESTMENT

COMPANIES—99.9%a

FIXED

INCOME—38.5%

119,968,099

TIAA-CREF

Bond

Index

Fund

$

1,134,898,218‌

TOTAL

FIXED

INCOME

1,134,898,218‌

INFLATION-PROTECTED

ASSETS—7.1%

20,046,094

TIAA-CREF

Inflation-Linked

Bond

Fund

209,281,219‌

TOTAL

INFLATION-PROTECTED

ASSETS

209,281,219‌

INTERNATIONAL

EQUITY—16.4%

14,551,828

TIAA-CREF

Emerging

Markets

Equity

Index

Fund

144,645,169‌

16,843,051

TIAA-CREF

International

Equity

Index

Fund

338,882,190‌

TOTAL

INTERNATIONAL

EQUITY

483,527,359‌

SHORT-TERM

FIXED

INCOME—7.1%

22,125,243

TIAA-CREF

Short-Term

Bond

Index

Fund

209,304,801‌

TOTAL

SHORT-TERM

FIXED

INCOME

209,304,801‌

U.S.

EQUITY—30.8%

31,964,351

TIAA-CREF

Equity

Index

Fund

905,869,710‌

TOTAL

U.S.

EQUITY

905,869,710‌

TOTAL

AFFILIATED

INVESTMENT

COMPANIES

2,942,881,307‌

(Cost

$2,617,646,332)

PRINCIPAL

ISSUER

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS—0.1%

GOVERNMENT

AGENCY

DEBT—0.1%

$1,869,000

Federal

Home

Loan

Bank

(FHLB)

0

.000

%

03/01/23

1,869,000‌

TOTAL

GOVERNMENT

AGENCY

DEBT

1,869,000‌

TOTAL

SHORT-TERM

INVESTMENTS

1,869,000‌

(Cost

$1,869,000)

TOTAL

INVESTMENTS—100.0%

2,944,750,307‌

(Cost

$2,619,515,332)

OTHER

ASSETS

&

LIABILITIES,

NET—0.0%

1,229,478‌

NET

ASSETS—100.0%

$

2,945,979,785‌

a

The

Fund

invests

its

assets

in

Class

W

shares

of

the

affiliated

TIAA-CREF

Funds.

Portfolio

of

investments

(unaudited)

Lifecycle

Index

2025

Fund

February

28,

2023

5

SHARES

SECURITY

VALUE

AFFILIATED

INVESTMENT

COMPANIES—99.9%a

FIXED

INCOME—36.1%

198,800,108

TIAA-CREF

Bond

Index

Fund

$

1,880,649,019‌

TOTAL

FIXED

INCOME

1,880,649,019‌

INFLATION-PROTECTED

ASSETS—5.1%

25,371,310

TIAA-CREF

Inflation-Linked

Bond

Fund

264,876,480‌

TOTAL

INFLATION-PROTECTED

ASSETS

264,876,480‌

INTERNATIONAL

EQUITY—18.7%

29,222,173

TIAA-CREF

Emerging

Markets

Equity

Index

Fund

290,468,398‌

33,825,109

TIAA-CREF

International

Equity

Index

Fund

680,561,200‌

TOTAL

INTERNATIONAL

EQUITY

971,029,598‌

SHORT-TERM

FIXED

INCOME—5.1%

27,999,259

TIAA-CREF

Short-Term

Bond

Index

Fund

264,872,993‌

TOTAL

SHORT-TERM

FIXED

INCOME

264,872,993‌

U.S.

EQUITY—34.9%

64,152,544

TIAA-CREF

Equity

Index

Fund

1,818,083,088‌

TOTAL

U.S.

EQUITY

1,818,083,088‌

TOTAL

AFFILIATED

INVESTMENT

COMPANIES

5,199,511,178‌

(Cost

$4,691,479,140)

PRINCIPAL

ISSUER

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS—0.1%

GOVERNMENT

AGENCY

DEBT—0.1%

$6,716,000

Federal

Home

Loan

Bank

(FHLB)

0

.000

%

03/01/23

6,716,000‌

TOTAL

GOVERNMENT

AGENCY

DEBT

6,716,000‌

TOTAL

SHORT-TERM

INVESTMENTS

6,716,000‌

(Cost

$6,716,000)

TOTAL

INVESTMENTS—100.0%

5,206,227,178‌

(Cost

$4,698,195,140)

OTHER

ASSETS

&

LIABILITIES,

NET—(0.0)%

(

84,379‌

)

NET

ASSETS—100.0%

$

5,206,142,799‌

a

The

Fund

invests

its

assets

in

Class

W

shares

of

the

affiliated

TIAA-CREF

Funds.

Lifecycle

Index

2030

Fund

February

28,

2023

Portfolio

of

investments

(unaudited)

6

SHARES

SECURITY

VALUE

AFFILIATED

INVESTMENT

COMPANIES—99.8%a

FIXED

INCOME—32.1%

217,827,088

TIAA-CREF

Bond

Index

Fund

$

2,060,644,248‌

TOTAL

FIXED

INCOME

2,060,644,248‌

INFLATION-PROTECTED

ASSETS—3.1%

18,896,521

TIAA-CREF

Inflation-Linked

Bond

Fund

197,279,681‌

TOTAL

INFLATION-PROTECTED

ASSETS

197,279,681‌

INTERNATIONAL

EQUITY—21.4%

41,368,725

TIAA-CREF

Emerging

Markets

Equity

Index

Fund

411,205,125‌

47,863,895

TIAA-CREF

International

Equity

Index

Fund

963,021,569‌

TOTAL

INTERNATIONAL

EQUITY

1,374,226,694‌

SHORT-TERM

FIXED

INCOME—3.1%

20,845,641

TIAA-CREF

Short-Term

Bond

Index

Fund

197,199,768‌

TOTAL

SHORT-TERM

FIXED

INCOME

197,199,768‌

U.S.

EQUITY—40.1%

90,859,302

TIAA-CREF

Equity

Index

Fund

2,574,952,626‌

TOTAL

U.S.

EQUITY

2,574,952,626‌

TOTAL

AFFILIATED

INVESTMENT

COMPANIES

6,404,303,017‌

(Cost

$5,710,444,544)

PRINCIPAL

ISSUER

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS—0.1%

GOVERNMENT

AGENCY

DEBT—0.1%

$7,304,000

Federal

Home

Loan

Bank

(FHLB)

0

.000

%

03/01/23

7,304,000‌

TOTAL

GOVERNMENT

AGENCY

DEBT

7,304,000‌

TOTAL

SHORT-TERM

INVESTMENTS

7,304,000‌

(Cost

$7,304,000)

TOTAL

INVESTMENTS—99.9%

6,411,607,017‌

(Cost

$5,717,748,544)

OTHER

ASSETS

&

LIABILITIES,

NET—0.1%

4,216,764‌

NET

ASSETS—100.0%

$

6,415,823,781‌

a

The

Fund

invests

its

assets

in

Class

W

shares

of

the

affiliated

TIAA-CREF

Funds.

Portfolio

of

investments

(unaudited)

Lifecycle

Index

2035

Fund

February

28,

2023

7

SHARES

SECURITY

VALUE

AFFILIATED

INVESTMENT

COMPANIES—99.8%a

FIXED

INCOME—26.2%

175,683,893

TIAA-CREF

Bond

Index

Fund

$

1,661,969,623‌

TOTAL

FIXED

INCOME

1,661,969,623‌

INFLATION-PROTECTED

ASSETS—1.1%

6,443,157

TIAA-CREF

Inflation-Linked

Bond

Fund

67,266,563‌

TOTAL

INFLATION-PROTECTED

ASSETS

67,266,563‌

INTERNATIONAL

EQUITY—24.8%

47,407,813

TIAA-CREF

Emerging

Markets

Equity

Index

Fund

471,233,660‌

54,823,627

TIAA-CREF

International

Equity

Index

Fund

1,103,051,374‌

TOTAL

INTERNATIONAL

EQUITY

1,574,285,034‌

SHORT-TERM

FIXED

INCOME—1.1%

7,105,244

TIAA-CREF

Short-Term

Bond

Index

Fund

67,215,607‌

TOTAL

SHORT-TERM

FIXED

INCOME

67,215,607‌

U.S.

EQUITY—46.6%

104,155,367

TIAA-CREF

Equity

Index

Fund

2,951,763,091‌

TOTAL

U.S.

EQUITY

2,951,763,091‌

TOTAL

AFFILIATED

INVESTMENT

COMPANIES

6,322,499,918‌

(Cost

$5,490,995,491)

PRINCIPAL

ISSUER

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS—0.1%

GOVERNMENT

AGENCY

DEBT—0.1%

$7,400,000

Federal

Home

Loan

Bank

(FHLB)

0

.000

%

03/01/23

7,400,000‌

TOTAL

GOVERNMENT

AGENCY

DEBT

7,400,000‌

TOTAL

SHORT-TERM

INVESTMENTS

7,400,000‌

(Cost

$7,400,000)

TOTAL

INVESTMENTS—99.9%

6,329,899,918‌

(Cost

$5,498,395,491)

OTHER

ASSETS

&

LIABILITIES,

NET—0.1%

5,171,218‌

NET

ASSETS—100.0%

$

6,335,071,136‌

a

The

Fund

invests

its

assets

in

Class

W

shares

of

the

affiliated

TIAA-CREF

Funds.

Lifecycle

Index

2040

Fund

February

28,

2023

Portfolio

of

investments

(unaudited)

8

SHARES

SECURITY

VALUE

AFFILIATED

INVESTMENT

COMPANIES—99.8%a

FIXED

INCOME—18.2%

125,973,131

TIAA-CREF

Bond

Index

Fund

$

1,191,705,820‌

TOTAL

FIXED

INCOME

1,191,705,820‌

INTERNATIONAL

EQUITY—28.4%

55,818,345

TIAA-CREF

Emerging

Markets

Equity

Index

Fund

554,834,350‌

64,557,839

TIAA-CREF

International

Equity

Index

Fund

1,298,903,720‌

TOTAL

INTERNATIONAL

EQUITY

1,853,738,070‌

U.S.

EQUITY—53.2%

122,634,357

TIAA-CREF

Equity

Index

Fund

3,475,457,690‌

TOTAL

U.S.

EQUITY

3,475,457,690‌

TOTAL

AFFILIATED

INVESTMENT

COMPANIES

6,520,901,580‌

(Cost

$5,448,967,448)

PRINCIPAL

ISSUER

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS—0.1%

GOVERNMENT

AGENCY

DEBT—0.1%

$8,861,000

Federal

Home

Loan

Bank

(FHLB)

0

.000

%

03/01/23

8,861,000‌

TOTAL

GOVERNMENT

AGENCY

DEBT

8,861,000‌

TOTAL

SHORT-TERM

INVESTMENTS

8,861,000‌

(Cost

$8,861,000)

TOTAL

INVESTMENTS—99.9%

6,529,762,580‌

(Cost

$5,457,828,448)

OTHER

ASSETS

&

LIABILITIES,

NET—0.1%

4,497,527‌

NET

ASSETS—100.0%

$

6,534,260,107‌

a

The

Fund

invests

its

assets

in

Class

W

shares

of

the

affiliated

TIAA-CREF

Funds.

Portfolio

of

investments

(unaudited)

Lifecycle

Index

2045

Fund

February

28,

2023

9

SHARES

SECURITY

VALUE

AFFILIATED

INVESTMENT

COMPANIES—99.8%a

FIXED

INCOME—12.1%

65,434,725

TIAA-CREF

Bond

Index

Fund

$

619,012,502‌

TOTAL

FIXED

INCOME

619,012,502‌

INTERNATIONAL

EQUITY—30.5%

46,882,983

TIAA-CREF

Emerging

Markets

Equity

Index

Fund

466,016,852‌

54,217,922

TIAA-CREF

International

Equity

Index

Fund

1,090,864,582‌

TOTAL

INTERNATIONAL

EQUITY

1,556,881,434‌

U.S.

EQUITY—57.2%

102,967,927

TIAA-CREF

Equity

Index

Fund

2,918,111,064‌

TOTAL

U.S.

EQUITY

2,918,111,064‌

TOTAL

AFFILIATED

INVESTMENT

COMPANIES

5,094,005,000‌

(Cost

$4,335,348,967)

PRINCIPAL

ISSUER

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS—0.2%

GOVERNMENT

AGENCY

DEBT—0.2%

$8,082,000

Federal

Home

Loan

Bank

(FHLB)

0

.000

%

03/01/23

8,082,000‌

TOTAL

GOVERNMENT

AGENCY

DEBT

8,082,000‌

TOTAL

SHORT-TERM

INVESTMENTS

8,082,000‌

(Cost

$8,082,000)

TOTAL

INVESTMENTS—100.0%

5,102,087,000‌

(Cost

$4,343,430,967)

OTHER

ASSETS

&

LIABILITIES,

NET—0.0%

1,671,883‌

NET

ASSETS—100.0%

$

5,103,758,883‌

a

The

Fund

invests

its

assets

in

Class

W

shares

of

the

affiliated

TIAA-CREF

Funds.

Lifecycle

Index

2050

Fund

February

28,

2023

Portfolio

of

investments

(unaudited)

10

SHARES

SECURITY

VALUE

AFFILIATED

INVESTMENT

COMPANIES—99.8%a

FIXED

INCOME—9.4%

42,462,892

TIAA-CREF

Bond

Index

Fund

$

401,698,959‌

TOTAL

FIXED

INCOME

401,698,959‌

INTERNATIONAL

EQUITY—31.5%

40,359,285

TIAA-CREF

Emerging

Markets

Equity

Index

Fund

401,171,290‌

46,673,993

TIAA-CREF

International

Equity

Index

Fund

939,080,746‌

TOTAL

INTERNATIONAL

EQUITY

1,340,252,036‌

U.S.

EQUITY—58.9%

88,629,541

TIAA-CREF

Equity

Index

Fund

2,511,761,183‌

TOTAL

U.S.

EQUITY

2,511,761,183‌

TOTAL

AFFILIATED

INVESTMENT

COMPANIES

4,253,712,178‌

(Cost

$3,661,264,350)

PRINCIPAL

ISSUER

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS—0.1%

GOVERNMENT

AGENCY

DEBT—0.1%

$6,070,000

Federal

Home

Loan

Bank

(FHLB)

0

.000

%

03/01/23

6,070,000‌

TOTAL

GOVERNMENT

AGENCY

DEBT

6,070,000‌

TOTAL

SHORT-TERM

INVESTMENTS

6,070,000‌

(Cost

$6,070,000)

TOTAL

INVESTMENTS—99.9%

4,259,782,178‌

(Cost

$3,667,334,350)

OTHER

ASSETS

&

LIABILITIES,

NET—0.1%

3,882,396‌

NET

ASSETS—100.0%

$

4,263,664,574‌

a

The

Fund

invests

its

assets

in

Class

W

shares

of

the

affiliated

TIAA-CREF

Funds.

Portfolio

of

investments

(unaudited)

Lifecycle

Index

2055

Fund

February

28,

2023

11

SHARES

SECURITY

VALUE

AFFILIATED

INVESTMENT

COMPANIES—99.8%a

FIXED

INCOME—8.2%

20,502,733

TIAA-CREF

Bond

Index

Fund

$

193,955,851‌

TOTAL

FIXED

INCOME

193,955,851‌

INTERNATIONAL

EQUITY—31.9%

22,787,651

TIAA-CREF

Emerging

Markets

Equity

Index

Fund

226,509,255‌

26,355,680

TIAA-CREF

International

Equity

Index

Fund

530,276,290‌

TOTAL

INTERNATIONAL

EQUITY

756,785,545‌

U.S.

EQUITY—59.7%

50,015,212

TIAA-CREF

Equity

Index

Fund

1,417,431,099‌

TOTAL

U.S.

EQUITY

1,417,431,099‌

TOTAL

AFFILIATED

INVESTMENT

COMPANIES

2,368,172,495‌

(Cost

$2,130,669,492)

PRINCIPAL

ISSUER

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS—0.2%

GOVERNMENT

AGENCY

DEBT—0.2%

$4,503,000

Federal

Home

Loan

Bank

(FHLB)

0

.000

%

03/01/23

4,503,000‌

TOTAL

GOVERNMENT

AGENCY

DEBT

4,503,000‌

TOTAL

SHORT-TERM

INVESTMENTS

4,503,000‌

(Cost

$4,503,000)

TOTAL

INVESTMENTS—100.0%

2,372,675,495‌

(Cost

$2,135,172,492)

OTHER

ASSETS

&

LIABILITIES,

NET—0.0%

775,844‌

NET

ASSETS—100.0%

$

2,373,451,339‌

a

The

Fund

invests

its

assets

in

Class

W

shares

of

the

affiliated

TIAA-CREF

Funds.

Lifecycle

Index

2060

Fund

February

28,

2023

Portfolio

of

investments

(unaudited)

12

SHARES

SECURITY

VALUE

AFFILIATED

INVESTMENT

COMPANIES—99.7%a

FIXED

INCOME—6.9%

8,707,909

TIAA-CREF

Bond

Index

Fund

$

82,376,822‌

TOTAL

FIXED

INCOME

82,376,822‌

INTERNATIONAL

EQUITY—32.3%

11,581,903

TIAA-CREF

Emerging

Markets

Equity

Index

Fund

115,124,117‌

13,393,748

TIAA-CREF

International

Equity

Index

Fund

269,482,201‌

TOTAL

INTERNATIONAL

EQUITY

384,606,318‌

U.S.

EQUITY—60.5%

25,435,747

TIAA-CREF

Equity

Index

Fund

720,849,070‌

TOTAL

U.S.

EQUITY

720,849,070‌

TOTAL

AFFILIATED

INVESTMENT

COMPANIES

1,187,832,210‌

(Cost

$1,130,496,432)

PRINCIPAL

ISSUER

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS—0.2%

GOVERNMENT

AGENCY

DEBT—0.2%

$2,339,000

Federal

Home

Loan

Bank

(FHLB)

0

.000

%

03/01/23

2,339,000‌

TOTAL

GOVERNMENT

AGENCY

DEBT

2,339,000‌

TOTAL

SHORT-TERM

INVESTMENTS

2,339,000‌

(Cost

$2,339,000)

TOTAL

INVESTMENTS—99.9%

1,190,171,210‌

(Cost

$1,132,835,432)

OTHER

ASSETS

&

LIABILITIES,

NET—0.1%

1,667,992‌

NET

ASSETS—100.0%

$

1,191,839,202‌

a

The

Fund

invests

its

assets

in

Class

W

shares

of

the

affiliated

TIAA-CREF

Funds.

Portfolio

of

investments

(unaudited)

Lifecycle

Index

2065

Fund

February

28,

2023

13

SHARES

SECURITY

VALUE

AFFILIATED

INVESTMENT

COMPANIES—99.9%a

FIXED

INCOME—5.7%

589,989

TIAA-CREF

Bond

Index

Fund

$

5,581,293‌

TOTAL

FIXED

INCOME

5,581,293‌

INTERNATIONAL

EQUITY—32.8%

971,565

TIAA-CREF

Emerging

Markets

Equity

Index

Fund

9,657,353‌

1,123,988

TIAA-CREF

International

Equity

Index

Fund

22,614,638‌

TOTAL

INTERNATIONAL

EQUITY

32,271,991‌

U.S.

EQUITY—61.4%

2,128,683

TIAA-CREF

Equity

Index

Fund

60,326,865‌

TOTAL

U.S.

EQUITY

60,326,865‌

TOTAL

AFFILIATED

INVESTMENT

COMPANIES

98,180,149‌

(Cost

$100,820,471)

PRINCIPAL

ISSUER

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS—0.4%

GOVERNMENT

AGENCY

DEBT—0.4%

$384,000

Federal

Home

Loan

Bank

(FHLB)

0

.000

%

03/01/23

384,000‌

TOTAL

GOVERNMENT

AGENCY

DEBT

384,000‌

TOTAL

SHORT-TERM

INVESTMENTS

384,000‌

(Cost

$384,000)

TOTAL

INVESTMENTS—100.3%

98,564,149‌

(Cost

$101,204,471)

OTHER

ASSETS

&

LIABILITIES,

NET—(0.3)%

(

279,588‌

)

NET

ASSETS—100.0%

$

98,284,561‌

a

The

Fund

invests

its

assets

in

Class

W

shares

of

the

affiliated

TIAA-CREF

Funds.

TIAA-CREF

Lifecycle

Index

Funds

February

28,

2023

Notes

to

portfolios

of

investments

(unaudited)

14

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 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

The

Funds’

investments

in

securities

are

recorded

at

their

estimated

fair

value

utilizing

valuation

methods

approved

by

the

Adviser,

subject

to

the

review

and

oversight

of

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:

Investments

in

registered

investment

companies:

Investments

in

investment

companies

are

valued

at

their

respective NAVs

or

share

price

on

the

valuation

date

and

are

generally

classified

as Level

1.

The

following

table

summarizes

the

market

value

of

the Funds’

investments

as

of

February

28,

2023,

based

on

the

inputs

used

to

value

them:

Fund

Level

1

Level

2

Level

3

Total

Lifecycle

Index

Retirement

Income

Registered

investment

companies

$592,165,977

$—

$—

$592,165,977

Short-term

investments

—

28,000

—

28,000

Total

$592,165,977

$28,000

$—

$592,193,977

1

1

1

1

1

Lifecycle

Index

2010

Registered

investment

companies

$628,817,560

$—

$—

$628,817,560

Short-term

investments

—

1,119,000

—

1,119,000

Total

$628,817,560

$1,119,000

$—

$629,936,560

1

1

1

1

1

Lifecycle

Index

2015

Registered

investment

companies

$1,030,213,773

$—

$—

$1,030,213,773

Short-term

investments

—

297,000

—

297,000

Total

$1,030,213,773

$297,000

$—

$1,030,510,773

1

1

1

1

1

Lifecycle

Index

2020

Registered

investment

companies

$2,942,881,307

$—

$—

$2,942,881,307

Short-term

investments

—

1,869,000

—

1,869,000

Total

$2,942,881,307

$1,869,000

$—

$2,944,750,307

1

1

1

1

1

Lifecycle

Index

2025

Registered

investment

companies

$5,199,511,178

$—

$—

$5,199,511,178

Short-term

investments

—

6,716,000

—

6,716,000

Total

$5,199,511,178

$6,716,000

$—

$5,206,227,178

1

1

1

1

1

Lifecycle

Index

2030

Registered

investment

companies

$6,404,303,017

$—

$—

$6,404,303,017

Short-term

investments

—

7,304,000

—

7,304,000

Total

$6,404,303,017

$7,304,000

$—

$6,411,607,017

1

1

1

1

1

Notes

to

portfolios

of

investments

(unaudited)

TIAA-CREF

Lifecycle

Index

Funds

February

28,

2023

15

concluded

Fund

Level

1

Level

2

Level

3

Total

Lifecycle

Index

2035

Registered

investment

companies

$6,322,499,918

$—

$—

$6,322,499,918

Short-term

investments

—

7,400,000

—

7,400,000

Total

$6,322,499,918

$7,400,000

$—

$6,329,899,918

1

1

1

1

1

Lifecycle

Index

2040

Registered

investment

companies

$6,520,901,580

$—

$—

$6,520,901,580

Short-term

investments

—

8,861,000

—

8,861,000

Total

$6,520,901,580

$8,861,000

$—

$6,529,762,580

1

1

1

1

1

Lifecycle

Index

2045

Registered

investment

companies

$5,094,005,000

$—

$—

$5,094,005,000

Short-term

investments

—

8,082,000

—

8,082,000

Total

$5,094,005,000

$8,082,000

$—

$5,102,087,000

1

1

1

1

1

Lifecycle

Index

2050

Registered

investment

companies

$4,253,712,178

$—

$—

$4,253,712,178

Short-term

investments

—

6,070,000

—

6,070,000

Total

$4,253,712,178

$6,070,000

$—

$4,259,782,178

1

1

1

1

1

Lifecycle

Index

2055

Registered

investment

companies

$2,368,172,495

$—

$—

$2,368,172,495

Short-term

investments

—

4,503,000

—

4,503,000

Total

$2,368,172,495

$4,503,000

$—

$2,372,675,495

1

1

1

1

1

Lifecycle

Index

2060

Registered

investment

companies

$1,187,832,210

$—

$—

$1,187,832,210

Short-term

investments

—

2,339,000

—

2,339,000

Total

$1,187,832,210

$2,339,000

$—

$1,190,171,210

1

1

1

1

1

Lifecycle

Index

2065

Registered

investment

companies

$98,180,149

$—

$—

$98,180,149

Short-term

investments

—

384,000

—

384,000

Total

$98,180,149

$384,000

$—

$98,564,149

1

1

1

1

1

A12147-B

(4/23)